Document:

goss-ex101_13.htm

Exhibit 10.1

 

GOSSAMER BIO, INC. 2019 INCENTIVE AWARD PLAN

RESTRICTED STOCK Unit Grant Notice

Capitalized terms not specifically defined in this Restricted Stock Unit Grant Notice (the “Grant Notice”) have the meanings given to them in the 2019 Incentive Award Plan (as amended from time to time, the “Plan”) of Gossamer Bio, Inc. (the “Company”).

The Company hereby grants to the participant listed below (“Participant”) the Restricted Stock Units described in this Grant Notice (the “RSUs”), subject to the terms and conditions of the Plan and the Restricted Stock Unit Agreement attached hereto as Exhibit A (the “Agreement”), both of which are incorporated into this Grant Notice by reference.  

		
	
Participant:
	
 

	
Grant Date:
	
 

	
Number of RSUs:
	
 

	
Vesting Commencement Date:
	
 

	
Vesting Schedule:
	
[To be specified in individual award agreements]

	
 
	
 

By electronically accepting this document, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement.  Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement.  Participant has been provided with a copy or electronic access to a copy of the prospectus for the Plan.  Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement.

 

 

Exhibit A

 

RESTRICTED STOCK UNIT AGREEMENT

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice, if not defined in the Grant Notice, in the Plan.

Article I.
general

1.1Award of RSUs.  The Company has granted the Restricted Stock Units (the “RSUs”) to Participant effective as of the grant date set forth in the Grant Notice (the “Grant Date”).  Each RSU represents the right to receive one Share, as set forth in this Agreement.  Participant will have no right to the distribution of any Shares until the time (if ever) the RSUs have vested.

1.2Incorporation of Terms of Plan.  The RSUs are subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference.  In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control.

1.3Unsecured Promise.  The RSUs will at all times prior to settlement represent an unsecured Company obligation payable only from the Company’s general assets.

Article II.
VESTING; forfeiture AND SETTLEMENT

2.1Vesting; Forfeiture.  The RSUs will vest according to the vesting schedule in the Grant Notice (the "Vesting Schedule"), except that any fraction of an RSU that would otherwise be vested will be accumulated and will vest only when a whole RSU has accumulated.  In the event of Participant’s Termination of Service for any reason, all unvested RSUs will immediately and automatically be cancelled and forfeited, except as otherwise determined by the Administrator or provided in a binding written agreement between Participant and the Company.  Unless and until the RSUs have vested in accordance with the Vesting Schedule set forth in the Grant Notice, Participant will have no right to any distribution with respect to such RSUs.

2.2Settlement.

(a)RSUs will be paid in Shares as soon as administratively practicable after the vesting of the applicable RSU, but in no event more than sixty (60) days after the applicable vesting date.  Notwithstanding the foregoing, the Company may delay any payment under this Agreement that the Company reasonably determines would violate Applicable Law until the earliest date the Company reasonably determines the making of the payment will not cause such a violation (in accordance with Treasury Regulation Section 1.409A-2(b)(7)(ii)), provided the Company reasonably believes the delay will not result in the imposition of excise taxes under Section 409A.

(b)All distributions shall be made by the Company in the form of whole shares of Common Stock.

(c)Neither the time nor form of distribution of Shares with respect to the RSUs may be changed, except as may be permitted by the Administrator in accordance with the Plan and Section 409A of the Code and the Treasury Regulations thereunder.  

 

 

Article III.
TAXATION AND TAX WITHHOLDING

3.1Representation.  Participant represents to the Company that Participant has reviewed with Participant’s own tax advisors the tax consequences of this Award and the transactions contemplated by the Grant Notice and this Agreement.  Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents.

3.2Tax Withholding.  

(a)Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the RSUs, regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the RSUs (the “Tax Withholding Obligation”).  Neither the Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or payment of the RSUs or the subsequent sale of Shares.  The Company and the Subsidiaries do not commit and are under no obligation to structure the RSUs to reduce or eliminate Participant’s tax liability.

(b)(i)Notwithstanding anything to the contrary contained in the Plan or this Section 3.2, unless Participant has a valid 10b5-1 plan in place directing the sale of Shares to cover such Tax Withholding Obligation, the Tax Withholding Obligation shall automatically, and without further action by Participant, be satisfied by having the Company withhold taxes from the proceeds of the sale of the Shares through a mandatory sale arranged by the Company on Participant’s behalf.  In the event Participant’s Tax Withholding Obligation will be satisfied under this Section 3.2(b), then the Company shall instruct any brokerage firm determined acceptable to the Company for such purpose to sell on Participant’s behalf a whole number of shares from those Shares issuable to Participant upon settlement of the RSUs as is required to generate cash proceeds sufficient to satisfy Participant’s Tax Withholding Obligation (with such Tax Withholding to be calculated based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes as of the date of delivery).  Participant acknowledges that the instruction to the broker to sell Shares pursuant to this Section 3.2(b) is intended to comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and to be interpreted to comply with the requirements of Rule 10b5-1(c)(1) under the Exchange Act (the “10b5-1 Arrangement”). This 10b5-1 Arrangement is being adopted to permit the Company to sell (on Participant’s behalf) a number of Shares issuable to Participant upon the settlement of the RSUs sufficient to pay the Tax Withholding Obligation that arises as a result of the vesting or settlement of the RSUs. Participant hereby acknowledges that the broker is under no obligation to arrange for such sale at any particular price. Participant hereby appoints the Company as Participant’s agent and attorney-in-fact to instruct the broker with respect to the number of Shares to be sold under this 10b5-1 Arrangement. Participant acknowledges that it may not be possible to sell Shares during the term of this 10b5-1 Arrangement due to (A) a legal or contractual restriction applicable to Participant or to the broker, (B) a market disruption, (C) rules governing order execution priority on the stock exchange on which the Shares are traded, (D) a sale effected pursuant to this 10b5-1 Arrangement that fails to comply (or in the reasonable opinion of the broker’s counsel is likely not to comply) with Rule 144 under the Securities Act or would result in a short-swing profit under Section 16 of the Exchange Act, or (E) the Company’s determination that sales may not be effected under this 10b5-1 Arrangement. 

(ii)This 10b5-1 Arrangement shall terminate as to the Award on the earliest of: (A) completion of the final sale of Shares withheld pursuant to this Section 3.2(b) following the final vesting date attributable to the Award; (B) termination of the Award; (C) the date of Participant’s death; or (D) as soon as practicable after (but in no event later than the end of the next business day following the announcement of (1) a tender or exchange offer for shares of Common Stock by the Company or any other person, or (2) a merger, acquisition, recapitalization or comparable transaction as a result of which Common Stock is to be exchanged or converted into shares of another company).

 

 

(iii)Participant represents that (A) Participant is not presently aware of any material nonpublic information about the Company or its securities; (B) Participant is entering into this Agreement and the 10b5-1 Arrangement in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1 or any other provision of any federal, state or foreign securities laws or regulations; (C) Participant shall have full responsibility for compliance with (1) any reporting requirements under Section 13 or 16 of the Exchange Act, (2) the short-swing profit recovery provisions under Section 16 of the Exchange Act, and (3) any federal, state or foreign securities laws or regulations concerning trading while aware of material nonpublic information; and (D) Participant is aware that in order for this 10b5-1 Arrangement to constitute an instruction pursuant to Rule 10b5-1(c), Participant must not alter or deviate from the terms of the instruction in this Section 3.2(b) (whether by changing the amount, price, or timing of any purchase or sale hereunder), exercise any subsequent discretion over the terms hereof or enter into or alter a corresponding or hedging transaction with respect to the Common Stock to be sold pursuant to this instruction or any securities convertible into or exchangeable for such Common Stock.

(iv)Participant acknowledges that this 10b5-1 Arrangement is subject to the terms of any policy adopted now or hereafter by the Company governing the adoption of 10b5-1 plans. Participant's acceptance of the Award constitutes the Participant's instruction and authorization to the Company and any brokerage firm to complete the transactions described in this Section 3.2(b).

(c)To the extent that the Tax Withholding Obligation is not fully satisfied pursuant to Section 3.2(b) or Section 3.2(b) does not apply, the Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in accordance with the Plan of any withholding tax arising in connection with the RSUs as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the Award (provided, however, that if Participant is subject to Section 16 of the Exchange Act at the time the tax withholding obligation arises, the prior approval of the Administrator shall be required for any election by the Company pursuant to this Section 3.2(c)).

Article IV.
other provisions

4.1Award Not Transferable. Without limiting the generality of any other provision hereof, the Award shall be subject to the restrictions on transferability set forth in Section 9.1 of the Plan.

4.2Adjustments.  Participant acknowledges that the RSUs and the Shares subject to the RSUs are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan.

4.3Notices.  Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number.  Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files.  By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party.  Any notice will be deemed duly given when actually received, when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation.

4.4Titles.  Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 

 

4.5Conformity to Securities Laws.  Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws.

4.6Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

4.7Limitations Applicable to Section 16 Persons.  Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement, the RSUs will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule.  To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule.

4.8Entire Agreement.  The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof.

4.9Agreement Severable.  In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement.

4.10Limitation on Participant’s Rights.  Participation in the Plan confers no rights or interests other than as herein provided.  This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust.  Neither the Plan nor any underlying program, in and of itself, has any assets.  Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to the RSUs, as and when settled pursuant to the terms of this Agreement.

4.11Not a Contract of Employment.  Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant.

4.12Counterparts.  The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument.

 

 

4.13Section 409A.

(a)Notwithstanding any other provision of the Plan, this Agreement or the Grant Notice, the Plan, this Agreement and the Grant Notice shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Grant Date, “Section 409A”).  The Administrator may, in its discretion, adopt such amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate to comply with the requirements of Section 409A.

(b)This Agreement is not intended to provide for any deferral of compensation subject to Section 409A of the Code, and, accordingly, the Shares issuable pursuant to the RSUs hereunder shall be distributed to Participant no later than the later of:  (A) the fifteenth (15th) day of the third month following Participant’s first taxable year in which such RSUs are no longer subject to a substantial risk of forfeiture, and (B) the fifteenth (15th) day of the third month following first taxable year of the Company in which such RSUs are no longer subject to substantial risk of forfeiture, as determined in accordance with Section 409A and any Treasury Regulations and other guidance issued thereunder.

4.14Governing Law. The provisions of the Plan and all Awards made thereunder, including the RSUs, shall be governed by and interpreted in accordance with the laws of the State of Delaware, disregarding choice-of-law principles of the law of any state that would require the application of the laws of a jurisdiction other than such state.

* * * * *Exhibit 4.2

 

FLEX LTD.

 

and

 

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 

 

 

3.750% Notes due 2026

 

4.875% Notes due 2030

 

 

 

Third Supplemental Indenture

 

Dated as of May 12, 2020

 

to

 

Indenture dated as of June 6, 2019

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	Article
    1

    Definitions and Other Provisions of General Application
	 
	Section 1.01.	Definitions	1
	Section 1.02. 	 Conflicts with Base Indenture	11
	 	 	 
	Article 2

 Form of Notes
	 
	Section 2.01.	Form of Notes	11
	 	 	 
	Article 3 

The Notes
	 
	Section 3.01. 	 Amount; Series; Terms	11
	Section 3.02. 	 Denominations	12
	Section 3.03. 	 Additional Notes; Repurchases	12
	Section 3.04. 	 No Sinking Fund	13
	 	 	 
	Article 4 

Redemption; Offer to Purchase
	 
	Section 4.01.	Optional Redemption	13
	Section 4.02. 	 Redemption for Tax Reasons	14
	Section 4.03. 	 Offer to Purchase	14
	 	 	 
	Article 5 

Covenants and Remedies
	 
	Section 5.01. 	 Limitation on Liens	16
	Section 5.02. 	 Limitation on Sale and Leaseback Transactions	21
	Section 5.03. 	 Repurchase of Notes Upon a Change of Control	21
	Section 5.04. 	 Events of Default; Acceleration	21
	Section 5.05.	Modification and Waiver	23
	Section 5.06.	References In Base Indenture	25
	Section 5.07. 	 Defeasance and Discharge	25
	Section 5.08. 	 Bermuda Branch; Full Recourse Obligations	25
	 	 	 
	Article 6 

Payment of Additional Amounts
	 
	Section 6.01.	Payment of Additional Amounts	25
	 	 	 
	Article 7 

Miscellaneous
	 
	Section 7.01. 	 Confirmation of Indenture	26
	Section 7.02.	Counterparts	27
	Section 7.03.	Governing Law; Submission to Jurisdiction	27
	Section 7.04.	Recitals by the Company	27
	 	 	 
	Exhibit A 	  Form of 2026 Note	A-1
	Exhibit B 	  Form of 2030
Note	 B-1

 

    i

     

    

 

THIRD SUPPLEMENTAL INDENTURE, dated as of
May 12, 2020 (“Third Supplemental Indenture”), to the Indenture dated as of June 6, 2019 (as amended, modified
or supplemented from time to time in accordance therewith, other than with respect to a particular series of debt securities, the
 “Base Indenture” and, as amended, modified and supplemented by this Third Supplemental Indenture, the “Indenture”),
by and between Flex Ltd., a Singapore registered public company limited by shares
and having company registration no. 199002645H, acting (subject to Section 1.17 of the Base Indenture) through its Bermuda branch,
as issuer (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the
 “Trustee”).

 

Each party agrees as follows for the benefit
of the other party and for the equal and ratable benefit of the Holders of the Notes:

 

WHEREAS, the Company has duly authorized
the execution and delivery of the Base Indenture to provide for the issuance from time to time of senior debt securities to be
issued in one or more series as provided in the Base Indenture;

 

WHEREAS, the Company has duly authorized
the execution and delivery, and desires and has requested the Trustee to join it in the execution and delivery, of this Third Supplemental
Indenture in order to establish and provide for the issuance by the Company of a series of Securities designated as its 3.750%
Notes due 2026 (the “2026 Notes”); and a series of Securities designated as its 4.875% Notes due 2030 (the “2030
Notes”, and together with the 2026 Notes, the “Notes”), on the terms set forth herein;

 

WHEREAS, Section 2.03 of the Base Indenture
provides that a supplemental indenture may be entered into by the parties for such purpose;

 

WHEREAS, the conditions set forth in the
Base Indenture for the execution and delivery of this Third Supplemental Indenture have been met; and

 

WHEREAS, all things necessary to make this
Third Supplemental Indenture a valid and binding agreement of the parties, in accordance with its terms, and a valid amendment
of, and supplement to, the Base Indenture with respect to the Notes have been done.

 

NOW, THEREFORE:

 

Article
1

Definitions and Other Provisions of General Application

 

Section 1.01.
Definitions. (a) Capitalized terms used herein and not otherwise defined herein have the meanings assigned to them
in the Base Indenture. To the extent terms are defined in both this Third Supplemental Indenture and the Base Indenture, the
applicable definition in this Third Supplemental Indenture shall control. The words “herein,”
 “hereof” and “hereby” and other words of similar import used in this Third Supplemental Indenture
refer to this Third Supplemental Indenture as a whole and not to any particular section hereof. Unless otherwise stated
herein, all section references herein are to Sections of this Third Supplemental Indenture.

 

    1

     

    

 

(b)      
As used herein, the following terms have the specified meanings:

 

“2026 Initial Notes”
has the meaning specified in ‎Section 3.01(b).

 

“2030 Initial Notes”
has the meaning specified in ‎Section 3.01(b).

 

“2026 Notes” has the
meaning specified in the recitals of this Third Supplemental Indenture.

 

“2030 Notes” has the
meaning specified in the recitals of this Third Supplemental Indenture.

 

“Additional Amounts”
has the meaning specified in ‎‎Section 6.01(a).

 

“Additional Notes” has
the meaning specified in ‎Section 3.03.

 

“Applicable Par Call Date”
means January 1, 2026 in the case of the 2026 Notes (the date that is one month prior to the maturity of the 2026 Notes and February
12, 2030 in the case of the 2030 Notes (the date that is three months prior to the maturity of the 2030 Notes.

 

“Attributable Debt” means,
as to any particular lease under which any Person is at the time of determination liable for a term of more than 12 months, at
any date as of which the amount thereof is to be determined, the total net amount of rent required to be paid by such Person under
such lease during the remaining term thereof (excluding any subsequent renewal or other extension options held by the lessee),
discounted from the respective due dates thereof to such date at the interest rate inherent in such lease (such rate to be determined
by any two of the following: the Chief Executive Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer,
Assistant Treasurer and the Controller of the Company), compounded annually. The net amount of rent required to be paid under any
such lease for any such period should be the aggregate amount of the rent payable by the lessee with respect to such period after
excluding amounts required to be paid on account of maintenance and repairs, services, insurance, taxes, assessments, water rates
and similar charges and contingent rents (such as those based on sales). In the case of any lease which is terminable by the lessee
upon the payment of a penalty, such net amount of rent should include the lesser of (i) the total discounted net amount of rent
required to be paid from the later of the first date upon which such lease may be so terminated or the date of the determination
of such amount of rent, as the case may be, and (ii) the amount of such penalty (in which event no rent shall be considered as
required to be paid under such lease subsequent to the first date upon which it may be so terminated).

 

“Authorized Agent” has
the meaning specified in ‎Section 7.03.

 

“bankruptcy default”
has the meaning specified in ‎Section 5.04(a)(7).

 

    2

     

    

 

“Base Indenture” has
the meaning specified in the recitals of this Third Supplemental Indenture.

 

“Capital Stock” means
(i) with respect to any Person organized as a corporation, any and all shares, interests, rights to purchase, warrants, options,
participations or other equivalents of or interest in (however designated) corporate stock, and (ii) with respect to any Person
that is not organized as a corporation, the partnership, membership or other equity interests or participations in such Person.

 

“Change in Tax Law” means
any change in or any amendment to the laws, including any applicable double taxation treaty or convention (or regulation or ruling
promulgated thereunder), of Singapore, or any Other Jurisdiction, or of any political subdivision or taxing authority thereof,
affecting taxation, or any change in the application or interpretation or official position regarding the application of such laws,
double taxation treaty or convention, which change or amendment becomes effective on or after the Issue Date or, in the case of
any Other Jurisdiction, a later date on which a successor assumes the obligations of the Company under the Notes pursuant to Section
4.01 of the Base Indenture) and, as a result of which, the Company or such successor would be required to make payments of Additional
Amounts on the next succeeding date for the payment thereof following the determination by the Company or any relevant successor
that the effect of the Change in Tax Law cannot be avoided through any reasonable measures available to the Company or such successor.

 

“Change of Control” means
the occurrence of any of the following:

 

(1) the direct or indirect sale, lease,
transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any “person”
(as that term is used in Section 13(d) and Section 14(d) of the Exchange Act) other than the Company or one of its Subsidiaries;

 

(2) the adoption of a plan relating
to the Company’s liquidation or dissolution;

 

(3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any “person” or “group”
(as those terms are used in Section 13(d)(3) of the Exchange Act), other than the Company or its Subsidiaries, becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the
combined voting power of the Company’s Voting Stock or other Voting Stock into which the Company’s Voting Stock is
reclassified, consolidated, exchanged or changed, measured by voting power rather than the number of shares;

 

(4) the Company consolidates
with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, the Company, in any such
event pursuant to a transaction in which any of the Voting Stock of the Company or such other Person is converted into or
exchanged for cash, securities or other property, other than any such transaction where the shares of Voting Stock of the
Company outstanding immediately prior to such transaction directly or indirectly constitute, or are converted into or
exchanged for, a majority of the Voting Stock of the surviving Person (held in substantially the same proportions)
immediately after giving effect to such transaction; or

 

    3

     

    

 

(5) the first day on which a majority
of the members of the board of directors of the Company are not Continuing Directors.

 

“Change of Control Repurchase Event”
means the occurrence of both a Change of Control and a Ratings Event.

 

“Code” means the Internal
Revenue Code of 1986.

 

“Company” means the party
named as such in the recitals of this Third Supplemental Indenture until a successor replaces it pursuant to the terms and conditions
of the Indenture and thereafter means the successor.

 

“Comparable Treasury Issue”
means, with respect to a series of Notes to be redeemed prior to the Applicable Par Call Date, the United States Treasury security
selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the
Notes of such series to be redeemed pursuant to ‎Section 4.01 (assuming such Notes matured on the Applicable Par Call Date)
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 a maturity most nearly equal to the Applicable Par Call Date).

 

“Comparable Treasury Price”
means, with respect to any redemption date prior to the Applicable Par Call Date pursuant to ‎Section 4.01, (1) the arithmetic
average of the Reference Treasury Dealer Quotations for such redemption date with respect to the applicable series of Notes after
excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four Reference
Treasury Dealer Quotations with respect to the applicable series of Notes, the arithmetic average of all such Reference Treasury
Dealer Quotations for such redemption date.

 

“Consolidated Net Tangible
Assets” means the total of all assets reflected on the most recent consolidated balance sheet of the Company and
its Consolidated Subsidiaries filed by the Company pursuant to Section 3.06 of the Base Indenture, prepared in accordance
with U.S. GAAP, at their net book values (after deducting related depreciation, depletion, amortization and all other
valuation reserves which, in accordance with such principles, should be set aside in connection with the business conducted),
but excluding goodwill, unamortized debt discount and all other like intangible assets, all as determined in accordance with
such principles, less the aggregate of the current liabilities of the Company and its Consolidated Subsidiaries reflected on
such balance sheet, all as determined in accordance with such principles. For purposes of this definition, “current
liabilities” includes all Indebtedness for money borrowed, incurred, issued, assumed or guaranteed by the Company
and its Consolidated Subsidiaries, and other payables and accruals, in each case payable on demand or due within one year of
the date of determination of Consolidated Net Tangible Assets, but shall exclude any portion of long-term debt maturing
within one year of the date of such determination (which excluded amount includes, for the avoidance of doubt, the portion of
such debt maturing during the last year thereof notwithstanding that such debt may then be characterized as short-term debt),
all as reflected on such consolidated balance sheet of the Company and its Consolidated Subsidiaries, prepared in accordance
with U.S. GAAP.

 

    4

     

    

 

“Consolidated Subsidiary”
means, at any date, any subsidiary or other entity the accounts of which would be consolidated with those of the Company in its
consolidated financial statements if such statements were prepared as of such date.

 

“Continuing Directors”
means, as of any date of determination, any member of the board of directors of the Company who (1) was a member of such board
of directors on the date of the issuance of the Notes; or (2) 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 of directors at the time of such nomination
or election.

 

“Credit Facilities” means
the Revolving/Term Loan A Facility, and any amendment, extension, renewal, increase, decrease, substitution or replacement (other
than the Notes) of such facility or any such substitution or replacement.

 

“Currency Agreement”
means any currency exchange contract, foreign exchange contract, currency swap agreement, cross-currency rate swap agreement, currency
options agreement or other similar agreement or arrangement.

 

“expiration date” has
the meaning specified in ‎Section 4.03(b).

 

“Event of Default” has
the meaning specified in ‎Section 5.04.

 

“Funded Debt” means Indebtedness
created, assumed or guaranteed by a Person for money borrowed which matures by its terms, or is renewable by the borrower to a
date, more than a year after the date of original creation, assumption or guarantee.

 

“Generally Accepted Accounting
Principles” or “U.S. GAAP” means generally accepted accounting principles which were in effect and
adopted by the Company during its fiscal year ended March 31, 2019. At any time after the Issue Date, the Company may elect to
apply International Financial Reporting Standards as issued by the International Account Standards Board (“IFRS”)
in lieu of U.S. GAAP and, upon any such election, references herein to U.S. GAAP or generally accepted accounting principles shall
thereafter be construed to mean IFRS on the date of such election; provided that any such election, once made, shall be
irrevocable; provided, further, that any calculation or determination in the indenture that requires the application
of U.S. GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall remain as
previously calculated or determined in accordance with U.S. GAAP.

 

“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 (i) 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 (ii) 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 has a corresponding meaning.

 

    5

     

    

 

“Indebtedness” means
(a) any liability of the Company or any of its Subsidiaries (1) for borrowed money, or under any reimbursement obligation relating
to a drawn upon letter of credit or bank guaranty, (2) evidenced by a bond, note, debenture or similar instrument (other than liabilities
for the deferred purchase price of property evidenced by a bond, note, debenture or similar instrument to the extent (i) such liability
has a regularly-scheduled maturity date that is less than one year, and (ii) solely for purposes of paragraph (4) under ‎‎Section
5.04, the non-payment of such liability is subject to a good faith dispute, including by virtue of a bona fide right of setoff),
(3) for payment obligations arising under any conditional sale or other title retention arrangement, purchase money obligation
or deferred purchase price arrangement (excluding any purchase price adjustments, earn-out or similar arrangements) made in connection
with the acquisition of any businesses, properties or assets of any kind (other than payment obligations consisting of accounts
payable for property or the deferred purchase price of property to the extent (i) such payment obligation has a regularly-scheduled
maturity date that is less than one year, and (ii) solely for purposes of paragraph (4) under ‎‎Section 5.04, the non-payment
of such payment obligation is subject to a good faith dispute, including by virtue of a bona fide right of setoff), (4) consisting
of the discounted rental stream properly classified in accordance with U.S. GAAP on the balance sheet of the Company or any of
its Subsidiaries, as lessee, as a capitalized lease obligation, or (5) under Currency Agreements and Interest Rate Agreements (but
only the net liability thereunder, if any), to the extent not otherwise included in this definition (other than any Currency Agreements
or Interest Rate Agreements entered into in connection with a bona fide hedging operation that provides offsetting benefits to
the Company or any of its Subsidiaries); (b) any liability of others of a type described in the preceding clause (a) to the extent
that the Company or any of its Subsidiaries has guaranteed or is otherwise legally obligated in respect thereof; and (c) any amendment,
supplement, modification, deferral, renewal, extension or refunding of any liability of the types referred to in clauses (a) and
(b) above. “Indebtedness” shall not be construed to include (x) trade payables or credit on open account to
trade creditors incurred in the ordinary course of business (including vendor finance programs), (y) obligations under supply or
consignment contracts in the ordinary course of business or forward sales agreements for inventory, or (z) any liability arising
from a Permitted Receivables Transaction. Accrual of interest, accretion or amortization of original issue discount will not be
deemed to be an incurrence of Indebtedness for any purpose hereunder.

 

“Indenture” has the meaning
specified in the recitals of this Third Supplemental Indenture.

 

    6

     

    

 

“Independent Investment Banker”
means an independent investment bank of national standing that is a primary U.S. government securities dealer in New York City
appointed by the Company.

 

“Initial Notes” has the
meaning set forth in ‎Section 3.01(b).

 

“Interest Payment Date”
has the meaning set forth in ‎Section 3.01(d).

 

“Interest Rate Agreement”
means, for any Person, any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement or other similar
agreement or arrangement.

 

“Investment Grade” means
a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating
of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment
grade credit rating from any additional rating agency or rating agencies selected by the Company.

 

“Issue Date” means May
12, 2020.

 

“Lien” means, with respect
to any asset, any pledge, mortgage, charge, encumbrance or security interest in respect of such asset; provided that any
transaction (including, without limitation, any sale of accounts receivable) which is treated as a sale of assets under U.S. GAAP
shall be so treated and any asset which is so sold shall not be deemed subject to a Lien. A contractual grant of a right of set-off
(which may include a security interest granted in the same collateral) or a contractual lien on property in transit to or in the
possession of the lienor, does not create a Lien in the absence of an agreement to maintain a balance or deliver property against
which such right may be exercised.

 

“Moody’s” means
Moody’s Investors Service, Inc. and any successor to its rating agency business.

 

“Notes” has the meaning
specified in the recitals of this Third Supplemental Indenture.

 

“offer” has the meaning
specified in ‎Section 4.03(a).

 

“Offer to Purchase” means
an offer by the Company to purchase a series of Notes as required by ‎Section 5.03.

 

“Other Jurisdiction”
has the meaning specified in ‎‎Section 6.01(a).

 

“Permitted Receivables
Transaction” means any transaction or series of transactions entered into by the Company or any of its Restricted
Subsidiaries in order to monetize or otherwise finance receivables, leases, Receivables Assets or other financial assets
(including, without limitation, financing contracts) or other transactions evidenced by receivables purchase agreements,
receivables sales agreement, factoring agreements and other similar agreements pursuant to which receivables are sold at a
discount (in each case whether now existing or arising in the future), and which may include a grant of a security interest
in any such receivables, leases, Receivables Assets or other financial assets (whether now existing or arising in the future)
of the Company or any of its Restricted Subsidiaries, and any assets related thereto, including all collateral securing such
receivables, leases, Receivables Assets or other financial assets, all contracts and all guarantees or other obligations in
respect thereof, proceeds thereof and other assets that are customarily transferred, or in respect of which security
interests are customarily granted, in connection with asset securitization transactions or factoring transactions involving
receivables, leases, Receivables Assets or other financial assets or other transactions evidenced by receivables purchase
agreements, receivables sales agreement, factoring agreements and other similar agreements pursuant to which receivables are
sold at a discount.

 

    7

     

    

 

“Prospectus” means the
preliminary prospectus supplement dated May 8, 2020, together with the base prospectus dated January 29, 2018, as supplemented
by the related pricing term sheet dated May 8, 2020, relating to the offering and sale of the Notes, all filed as part of
the Company’s Registration Statement on Form S-3 (No. 333-222773).

 

“purchase amount” has
the meaning specified in ‎Section 4.03(b)(1).

 

“purchase date” has the
meaning specified in ‎Section 4.03(b)(3).

 

“Rating Agency” means
(1) each of Moody’s and S&P; and (2) if Moody’s or S&P ceases to rate a series of Notes or fails to make a
rating of a series of Notes publicly available for reasons outside of the control of the Company, a “nationally recognized
statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act, selected by the Company (as
certified by a resolution of the board of directors of the Company) as a replacement agency for Moody’s or S&P with respect
to such series of Notes, as the case may be.

 

“Ratings Event” means,
with respect to a series of Notes, that the Notes of such series cease to be rated by both Rating Agencies as Investment Grade
on any day within 60 days after the earlier of (i) the occurrence of a Change of Control or (ii) public notice of the occurrence
of a Change of Control or the intention by the Company to effect a Change of Control (which period shall be extended so long as
the rating of such series of Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies)
(such period, the “Trigger Period”). If either Rating Agency is not providing a rating of a series of Notes
on any day during the Trigger Period for any reason, the rating of such Rating Agency shall be deemed to have ceased to be rated
Investment Grade with respect to such series of Notes during the Trigger Period.

 

“Receivables Assets”
means accounts receivable, Indebtedness and other obligations owed to or owned by the Company or any Restricted Subsidiary (whether
now existing or arising or acquired in the future) arising in the ordinary course of business from the sale of goods or services
(including any Indebtedness or other obligation constituting an account, chattel paper, instrument or general intangible), together
with all related security, collateral, collections, contracts, contract rights, guarantees or other obligations in respect thereof,
all proceeds and supporting obligations and all other related assets which are of the type customarily transferred in connection
with a sale, factoring, financing or securitization transaction involving accounts receivable.

 

    8

     

    

 

“record date” has the
meaning specified in ‎Section 3.01(d).

 

“Reference Treasury Dealer”
means any four primary treasury dealers selected by the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any redemption date, the arithmetic 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 by such Reference Treasury Dealer as of 3:30 p.m., New York City time, on the third Business
Day preceding such redemption date.

 

“Remaining Scheduled Payments”
means, with respect to any Note to be redeemed prior to the Applicable Par Call Date pursuant to ‎Section 4.01, the remaining
scheduled payments of the principal of and premium, if any, thereof and interest thereon that would be due after the related redemption
date but for such redemption if such Note matured on the Applicable Par Call Date; provided, however, that, if such
redemption date is not an Interest Payment Date with respect to such Note, the amount of the next scheduled interest payment thereon
will be reduced by the amount of interest accrued thereon to such redemption date.

 

“Restricted Subsidiary”
means, at any time, each and every Subsidiary at least 80% (by number of votes) of the Voting Equity of which is legally and beneficially
owned by the Company and its Wholly Owned Restricted Subsidiaries at such time.

 

“Revolving/Term Loan A Facility”
means the Credit Agreement, dated as of June 30, 2017 by and among the Company and certain of its Subsidiaries as borrowers,
Bank of America, N.A., as Administrative Agent and Swing Line Lender, and the other lenders party thereto, as amended from time
to time.

 

“S&P” means S&P
Global Ratings, a division of S&P Global, Inc., and any successor to its rating agency business.

 

“Sale and Leaseback Transaction”
has the meaning specified in ‎Section 5.02.

 

“Significant Subsidiary”
means any significant subsidiary as defined in Rule 1-02(w) of Regulation S-X promulgated by the Commission.

 

“Stated Maturity” means,
with respect to any installment of interest or principal on a series of Notes, the date on which such payment of interest or principal
was scheduled to be paid pursuant to this Indenture, and shall not include any contingent obligations to repay, redeem or repurchase
any such interest or principal prior to the date originally scheduled for the payment thereof.

 

“Subsidiary of the Company”
or similar references means any corporation, association or other business entity of which at the time of determination the Company
or one or more of the Company’s subsidiaries owns or controls more than 50% of the shares of Voting Equity.

 

    9

     

    

 

“Surety Obligations”
means any bonds, including bid bonds, advance bonds, or performance bonds, letters of credits, warranties, and similar arrangements
between the Company or any of its Restricted Subsidiaries and one or more surety providers, for the benefit of the Company’s
or any Restricted Subsidiary’s suppliers, vendors, insurers, or customers including, in each case, any related notes, guarantees,
collateral documents, instruments and agreements executed in connection therewith, in each case as amended, modified, renewed,
refunded, replaced, restated or refinanced from time to time, and in each case exclusive of obligations for the payment of borrowed
money.

 

“Taxes” has the meaning
specified in ‎‎Section 6.01(a).

 

“Tax Redemption Price”
has the meaning assigned to such term in ‎‎Section 4.02(a).

 

“Third Supplemental Indenture”
has the meaning specified in the recitals of this Third Supplemental Indenture.

 

“Treasury Rate” means,
with respect to any redemption date prior to the Applicable Par Call Date pursuant to ‎Section 4.01, the rate per annum equal
to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding that redemption date)
of the applicable Comparable Treasury Issue. In determining this rate, the Company will assume a price for the applicable Comparable
Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such redemption
date.

 

“Trigger Period” has
the meaning specified in the definition of “Ratings Event.”

 

“Voting Equity” means
stock or equivalent equity interest that ordinarily has voting power for the election of directors, managers or trustees, whether
at all times or only so long as no senior class of stock has such voting power by reason of any contingency.

 

“Voting Stock” of any
specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote generally in the election
of the board of directors of such Person.

 

“Wholly Owned Restricted Subsidiary”
means, at any time, any Restricted Subsidiary 100% of all of the equity interests (except directors’ qualifying shares) and
Voting Equity of which are owned by the Company and/or any one or more of the Company’s other Wholly Owned Restricted Subsidiaries
at such time.

 

Section 1.02. Conflicts
with Base Indenture. In the event that any provision of this Third Supplemental Indenture limits, qualifies or conflicts with
a provision of the Base Indenture, such provision of this Third Supplemental Indenture shall control.

 

    10

     

    

 

Article
2

Form of Notes

 

Section 2.01. Form
of Notes. The 2026 Notes shall be substantially in the form of Exhibit A hereto, and the 2030 Notes shall be substantially
in the form of Exhibit B hereto, each of which is hereby incorporated in and expressly made a part of the Indenture.

 

Article
3

The Notes

 

Section 3.01. Amount;
Series; Terms. (a) There is hereby created and designated two series of Securities under the Base Indenture: the title
of the 2026 Notes shall be “3.750% Notes due 2026” and the title of the 2030 Notes shall be “4.875% Notes due
2030.” The changes, modifications and supplements to the Base Indenture effected by this Third Supplemental Indenture shall
be applicable only with respect to, and govern the terms of, the applicable series of Notes and shall not apply to any other series
of Securities that may be issued under the Base Indenture unless a supplemental indenture with respect to such other series of
Securities specifically incorporates such changes, modifications and supplements.

 

(b)      
The aggregate principal amount of 2026 Notes that initially may be authenticated and delivered under this Third Supplemental
Indenture (the “2026 Initial Notes”) shall be limited to $425,000,000, subject to increase as set forth in ‎Section
3.03, and the aggregate principal amount of 2030 Notes that initially may be authenticated and delivered under this Third Supplemental
Indenture (the “2030 Initial Notes”, and together with the 2026 Initial Notes, the “Initial Notes”)
shall be limited to $325,000,000, subject to increase as set forth in ‎Section 3.03.

 

(c)      
The Stated Maturity of the 2026 Notes shall be February 1, 2026, and the Stated Maturity of the 2030 Notes shall
be May 12, 2030. The Notes shall be payable and may be presented for payment, purchase, redemption, registration of transfer and
exchange, without service charge (in accordance with and subject to Section 2.08 of the Base Indenture), at the office or agency
of the Company maintained for such purpose, which shall initially be the Corporate Trust Office.

 

(d)       The
2026 Notes shall bear interest at the rate of 3.750% per annum, and the 2030 Notes shall bear interest at the rate of 4.875%
per annum, each beginning on May 12, 2020, or from the most recent Interest Payment Date to or for which interest has been
paid or duly provided for, as further provided in the forms of Note annexed hereto as Exhibit A and Exhibit B, respectively.
Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest payment dates shall
be (x) February 1 and August 1 of each year, beginning on August 1, 2020 for the 2026 Notes and (y) May 12 and November 12 of
each year, beginning on November 12, 2020 for the 2030 Notes (each such date, with respect to the applicable series of Notes,
an “Interest Payment Date”) and the “record date” for any interest payable on each such
Interest Payment Date shall be the immediately preceding (x) January 15 and July 15, for the 2026 Notes and
(y) April 27 and October 28, for the 2030 Notes, respectively; provided that upon the Stated Maturity of the
applicable series of Notes, interest shall be payable on such Stated Maturity from the most recent date to which interest has
been paid or duly provided, and shall include the required payment of principal or premium, if any; and provided
further, the “record date” for any interest, principal, or premium, if any, payable on the Stated
Maturity of the applicable series of Notes shall be, in the case of the 2026 Notes, the immediately preceding January 15,
2026, and in the case of the 2030 Notes, the immediately preceding April 27, 2030. If any Interest Payment Date, Stated
Maturity or other payment date with respect to a series of Notes is not a Business Day, the required payment of principal,
premium, if any, or interest shall be due on the next succeeding Business Day as if made on the date that such payment was
due, and, unless the Company defaults on such payment, no interest shall accrue on that payment for the period from and after
that Interest Payment Date, Stated Maturity or other payment date, as the case may be, to the date of that payment on the
next succeeding Business Day.

 

    11

     

    

 

(e)      
Each series of Notes shall be issued in the form of one or more Global Securities, deposited with the Trustee as
custodian for the Depositary or its nominee, duly executed by the Company and authenticated by the Trustee as provided in Section
2.04 of the Base Indenture.

 

(f)       
Payment of principal of and premium, if any, and interest on a Global Security registered in the name of or held
by the Depositary or its nominee shall be made in immediately available funds to the Depositary or its nominee, as the case may
be, as the registered Holder of such Global Security. If Notes of a series are no longer represented by a Global Security, payment
of principal, premium, if any, and interest on certificated Notes of such series in definitive form may, at the Company’s
option, be made by (i) by wire transfer of immediately available funds to the accounts specified by the Holders thereof or (ii)
if no such account is specified at least 15 days prior to the applicable date for such payment, by mailing a check to the applicable
Holder’s registered address as set forth in the Securities Register.

 

Section 3.02. Denominations.
Each series of Notes shall be issuable only in registered form without coupons and only in minimum denominations of $2,000
and integral multiples of $1,000 in excess thereof.

 

Section 3.03. Additional
Notes; Repurchases. The Company may, from time to time, subject to compliance with any other applicable provisions of the
Indenture, without notice to or the consent of the Holders of a series of Notes, increase the principal amount of such series
of Notes by issuing additional Notes having the same terms and conditions as, and ranking equally and ratably with, such series
of Notes in all respects (the “Additional Notes”), except that Additional Notes:

 

(i)       may
have a different issue date from the Initial Notes of such series;

 

(ii)      may
have a different issue price from the Initial Notes of such series; and

 

(iii)     may,
if applicable, have a different interest accrual date and first Interest Payment Date following the issue date of such
Additional Notes than the Initial Notes of such series; provided that if any such Additional Notes are not fungible
with the outstanding Notes of the applicable series for U.S. federal income tax purposes, such Additional Notes shall have
one or more separate CUSIP numbers. Except as set forth in ‎Section 5.05, the applicable Initial Notes and any
Additional Notes of such series will, in each case, be consolidated and form a single series, and will have the same terms as
to ranking, redemption, repurchase, waivers, amendments or otherwise, and will vote together as one class on all matters.

 

    12

     

    

 

The Company may, to the extent permitted
by law, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), purchase Notes in the open
market or otherwise, whether by the Company or its Subsidiaries or through a private or public tender or exchange offer or through
counterparties to private agreements, including by cash-settled swaps or other derivatives. The Company shall cause any Notes so
purchased (other than Notes purchased pursuant to cash-settled swaps or other derivatives) to be surrendered to the Trustee for
cancellation, and such Notes shall no longer be considered outstanding under the Indenture upon their purchase.

 

Section 3.04. No Sinking
Fund. The Notes shall not be subject to any sinking fund.

 

Article
4

Redemption; Offer to Purchase

 

Section 4.01. Optional
Redemption. (a) Subject to ‎Section 1.02 hereof, the provisions of Article 5 of the Base Indenture, as supplemented
by the provisions of this Third Supplemental Indenture, shall apply to the Notes.

 

(b)      
At any time and from time to time, upon not less than 30 nor more than 60 days’ notice, prior to the Applicable
Par Call Date, the Company may redeem some or all of a series of the Notes at a price equal to the greater of the following amounts,
plus, in each case, accrued and unpaid interest thereon to, but not including, the redemption date:

 

(i)      
100% of the aggregate principal amount of the 2026 Notes or the 2030 Notes to be redeemed, as applicable; or

 

(ii)     
the sum of the present values of the Remaining Scheduled Payments (including interest and principal) on the 2026 Notes or
the 2030 Notes to be redeemed.

 

If the Company elects to redeem some or all of the 2026 Notes
or the 2030 Notes on or after the Applicable Par Call Date, the Company will pay a redemption price equal to 100% of the aggregate
principal amount of such Notes to be redeemed, plus, in each case, accrued and unpaid interest thereon to, but not including, the
redemption date.

 

In determining the present values of the Remaining
Scheduled Payments, the Company will discount such payments to the redemption date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) using a discount rate equal to the applicable Treasury Rate plus (x) 0.50% (50
basis points), in the case of the 2026 Notes and (y) 0.50% (50 basis points), in the case of the 2030 Notes.

 

    13

     

    

 

(c)      
Notwithstanding ‎Section 4.01‎(b), installments of interest on Notes that are due and payable on Interest
Payment Dates falling on or prior to a redemption date for such Notes shall be payable on the Interest Payment Date to the registered
Holders as of the close of business on the relevant record date in accordance with the provisions of such Notes and the Indenture.
Unless the Company defaults in the payment of the redemption price and accrued interest, if any, for any Notes called for redemption
pursuant to this ‎Section 4.01, on and after the redemption date, interest shall cease to accrue on such Notes called for
redemption.

 

Section 4.02. Redemption
for Tax Reasons. (a) The Company may, at its option, redeem the Notes of either series in whole at any time at a redemption
price equal to 100% of the principal amount thereof plus accrued and unpaid interest, if any, to the date fixed for redemption
(the “Tax Redemption Price”) if a Change in Tax Law occurs.

 

(b)      
The date and the applicable redemption price will be specified in the notice of tax redemption, which will be given
in accordance with ‎Section 5.02 of the Base Indenture not earlier than 90 days prior to, and not later than 90 days after,
the earliest date on which the Company, would be obligated to pay such Additional Amounts if a payment in respect of the Notes
were actually due on such date and, at the time such notification of redemption is given, such obligation to pay such Additional
Amounts remains in effect.

 

(c)      
Prior to giving the notice of a tax redemption, the Company will deliver to the Trustee an Officer’s Certificate
stating that the Company is entitled to effect the redemption and setting forth a statement of facts showing that the conditions
precedent to the right of the Company to so redeem have occurred and an Opinion of Counsel to that effect based on the statement
of facts.

 

Section 4.03. Offer
to Purchase. (a) An Offer to Purchase must be made by written offer (the “offer”) sent to the Holders
of the applicable series of Notes. The Company will notify the Trustee at least 15 days (or such shorter period as is acceptable
to the Trustee) prior to sending the offer to Holders of the applicable series of Notes of its obligation to make an Offer to
Purchase, and the offer will be sent by the Company or, at the Company’s request, by the Trustee in the name and at the
expense of the Company.

 

(b)      
The offer must include or state the following as to the terms of the Offer to Purchase with respect to each series
of Notes subject to such offer:

 

(1)      
the aggregate principal amount of the outstanding Notes offered to be purchased by the Company pursuant to the Offer to
Purchase (the “purchase amount”);

 

(2)      
the purchase price, including the portion thereof representing accrued interest;

 

    14

     

    

 

(3)      
an expiration date (the “expiration date”) not less than 30 days or more than 60 days after the date of the
offer, and a settlement date for purchase (the “purchase date”) not more than five Business Days after the expiration
date;

 

(4)      
information concerning the business of the Company and its Subsidiaries which the Company in good faith believes will enable
the Holders to make an informed decision with respect to the Offer to Purchase;

 

(5)      
a Holder may tender all or any portion of its Notes, subject to the requirement that any portion of a Note tendered must
be in minimum denominations of $2,000 in principal amount or an integral multiple of $1,000 in excess thereof (provided
that no Note in a denomination of other than $2,000 or an integral multiple of $1,000 in excess thereof may remain outstanding
after giving effect to such repurchase);

 

(6)      
the place or places where Notes are to be surrendered for tender pursuant to the Offer to Purchase;

 

(7)      
each Holder electing to tender a Note pursuant to the offer will be required to surrender such Note at the place or places
specified in the offer prior to the close of business on the expiration date (such Note being, if the Company or the Trustee so
requires, duly endorsed or accompanied by a duly executed written instrument of transfer);

 

(8)      
interest on any Note not tendered, or tendered but not purchased by the Company pursuant to the Offer to Purchase, will
continue to accrue;

 

(9)      
on the purchase date the purchase price will become due and payable on each Note accepted for purchase, and interest on
Notes purchased will cease to accrue on and after the purchase date;

 

(10)    
Holders are entitled to withdraw Notes tendered by giving notice, which must be received by the Company or the Trustee not
later than the close of business on the expiration date, setting forth the name of the Holder, the principal amount of the tendered
Notes, the certificate number of the tendered Notes and a statement that the Holder is withdrawing all or a portion of the tender;

 

(11)    
if any Note is purchased in part, new Notes equal in principal amount to the unpurchased portion of the Note will be issued
(provided that no Note in an unauthorized denomination may remain outstanding after any repurchase); and

 

(12)    
if any Note contains a CUSIP or CINS number, no representation is being made as to the correctness of the CUSIP or CINS
number either as printed on the Notes or as contained in the offer and that the Holder should rely only on the other identification
numbers printed on the Notes.

 

    15

     

    

 

The notice shall, if sent prior to the date of consummation
of the Change of Control, state that the Offer to Purchase is conditioned on a Change of Control Repurchase Event occurring on
or prior to the payment date specified in the notice.

 

(c)      
On or prior to the purchase date, the Company will, with respect to Notes of the applicable series, to the extent
lawful:

 

(i)      
accept for payment all Notes or portions thereof properly tendered pursuant to the Offer to Purchase;

 

(ii)     
deposit with the paying agent an amount equal to the aggregate purchase price in respect of all the Notes or portions of
the Notes properly tendered (no interest or dividends will be paid on any such deposit); and

 

(iii)    
deliver or cause to be delivered to the Trustee all Notes properly accepted, together with an Officer’s Certificate
specifying which Notes have been accepted for purchase.

 

(d)      
On the purchase date the purchase price will become due and payable on each Note accepted for purchase, and interest
on Notes purchased will cease to accrue on and after the purchase date. The paying agent will disburse to each Holder of Notes
properly tendered the purchase price for such Notes, and the Company shall execute, and the Trustee will authenticate and deliver
(or cause to be transferred by book-entry) to each Holder, a new Note (or beneficial interest in a Global Security) of the applicable
series equal in principal amount to any unpurchased portion of any Notes surrendered.

 

(e)      
The Company will comply with Rule 14e-1 under the Exchange Act and all other applicable laws in making any Offer
to Purchase, and the above procedures will be deemed modified as necessary to permit such compliance.

 

(f)       
The Company will not be required to make an offer to repurchase a series of Notes upon a Change of Control Repurchase
Event with respect to such series if a third party makes such an offer in the manner, at the times and otherwise in compliance
with the requirements for an offer made by the Company and such third party purchases all Notes of such series properly tendered
and not withdrawn under its offer.

 

Article
5

Covenants and Remedies

 

Section 5.01. Limitation
on Liens. (a) The Company will not, and will not permit any Restricted Subsidiary to create, incur or assume any Lien
on any property (including shares of Capital Stock or Indebtedness) or assets, whether now owned or hereafter acquired, to secure
Indebtedness (including Guarantees) of the Company, any Restricted Subsidiary, or any other Person, including, without limitation,
Indebtedness under the Credit Facilities, without in any such case effectively providing concurrently with the creation, incurrence
or assumption of such Lien with respect to such Indebtedness that the Notes (together with, if the Company so determines, any
other Indebtedness of the Company or such Restricted Subsidiary then existing or thereafter created which is not subordinated
in right of payment to the Notes) will be secured by any such Lien equally and ratably with (or prior to) such secured Indebtedness,
so long as such secured Indebtedness is so secured. In the case of the Credit Facilities, such obligation shall arise concurrently
with the grant of any Lien thereunder, whether or not any Indebtedness will be outstanding under the Credit Facilities at such
time. Any Lien created for the benefit of the Holders pursuant to this ‎Section 5.01 shall provide by its terms that such
Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Lien that gave rise
to the obligation to secure the Notes.

 

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(b)      
Except in the case of any Lien granted under the Credit Facilities, the foregoing restriction in ‎Section 5.01‎(a)
above shall not, however, apply to:

 

(1)      
Liens on property or assets of the Company or any Restricted Subsidiary existing on the Issue Date;

 

(2)      
Liens on property or assets of any Person, existing prior to the time such Person becomes a Restricted Subsidiary or is,
through one or a series of transactions, merged with or into or consolidated with the Company or a Restricted Subsidiary, or at
the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety, through
one or a series of transactions, to the Company or a Restricted Subsidiary, or arising thereafter pursuant to contractual commitments
entered into prior to and not in contemplation of such Person becoming a Restricted Subsidiary and not in contemplation of any
such merger or consolidation or any such sale, lease or other disposition; provided that such Liens shall not extend to any other
property or assets of the Company or any other Restricted Subsidiary;

 

(3)      
Liens on property or assets of the Company or any Restricted Subsidiary existing at the time of acquisition thereof (including
acquisition through merger or consolidation); provided that such Liens were in existence prior to and were not created in contemplation
of such acquisition and shall not extend to any other property or assets of the Company or any Restricted Subsidiary;

 

(4)       Liens
on property (including in the case of a plant or facility, the land on which it is erected and fixtures comprising a part
thereof) or assets of the Company or any Restricted Subsidiary securing the payment of all or any part of the purchase price
thereof, or the cost of development, operation, construction, alteration, repair or improvement of all or any part thereof,
or securing any Indebtedness created, incurred, assumed or guaranteed prior to, at the time of or within 180 days after, the
acquisition of such property or assets and/or the completion of any such development, operation, construction, alteration,
repair or improvement, whichever is later, for the purpose of financing all or any part of the purchase price and/or such
cost (provided, in the case of Liens securing the payment of all or any part of the purchase price of any property or assets
of the Company or any Restricted Subsidiary, as the case may be, or securing any Indebtedness created, incurred, assumed or
guaranteed for the purposes of financing all or any part of such purchase price, such Liens are limited to the property or
assets then being acquired and fixed improvements thereon and the capital stock of any Person formed to acquire such property
or assets, and, provided further, that in the case of Liens securing the payment of all or any part of the cost of
development, operation, construction, alteration, repair or improvement of any property of the Company or any Restricted
Subsidiary, as the case may be, or securing any Indebtedness created, incurred, assumed or guaranteed for the purpose of
financing all or any part of such cost, such Liens are limited to the assets or property then being developed, operated,
constructed, altered, repaired or improved and the land on which such property is erected and fixtures comprising a part
thereof and the capital stock of any Person formed to own such property or assets);

 

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(5)           
Liens which secure Indebtedness owing by (a) the Company to a Restricted Subsidiary or (b) any Subsidiary to the Company
or to a Restricted Subsidiary;

 

(6)           
Liens on the property of the Company or a Restricted Subsidiary in favor of the U.S. or any state thereof, or any department,
agency, instrumentality or political subdivision of the U.S. or any state thereof, or in favor of any other country, or any department,
agency, or instrumentality or political subdivision thereof, in each case (a) securing partial, progress, advance or other payments
pursuant to any contract or statute, (b) securing Indebtedness incurred to finance all or any part of the purchase price or cost
of constructing, installing or improving the property, including Liens to secure Indebtedness of the pollution control or industrial
revenue bond type, or (c) securing Indebtedness issued or guaranteed by the U.S., any state, any foreign country or any department,
agency, instrumentality or political subdivision of any such jurisdiction;

 

(7)           
statutory or common law landlords’, carriers’, warehouseman’s, mechanics’, suppliers’, materialmen’s,
repairmen’s, or other like Liens arising in the ordinary course of business and with respect to amounts not yet delinquent
for a period of more than 60 days (taking into account applicable grace periods) or being contested in good faith by appropriate
legal proceedings promptly instituted and diligently conducted and, in the latter case, for which a reserve or other appropriate
provision, if any, as shall be required in conformity with U.S. GAAP shall have been made;

 

(8)           
Liens for taxes, assessments or governmental charges that are not yet delinquent for a period of more than 60 days (taking
into account applicable grace periods) or are being contested in good faith by appropriate legal proceedings promptly instituted
and diligently conducted and, in the latter case, for which adequate reserves or other appropriate provisions are being maintained,
to the extent required by U.S. GAAP;

 

(9)           
zoning restrictions, easements, rights of way or defects or irregularities in title and other similar charges or encumbrances
on property not materially adversely affecting the use of such property by the Company or any Restricted Subsidiary and Liens of
a landlord, lessor or lessee under operating leases to which the Company or a Restricted Subsidiary is a party;

 

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(10)           
customary deposit or reserve arrangements entered into in connection with acquisitions;

 

(11)           
Liens incurred in the ordinary course of business securing Indebtedness under any interest rate agreement, currency agreement
or other similar agreement designed to protect the Company or any of its Restricted Subsidiaries from fluctuations in interest
rates, currencies or the price of commodities, equity or debt instruments or securities, or economic, financial or pricing indices
or measures of economic, financial or pricing risk or value;

 

(12)           
Liens incurred (a) in connection with workers’ compensation, unemployment insurance, pensions, social security or
similar laws and other types of statutory obligations or the requirements of any official body, including for the obtaining of
franchises or licenses useful in the operation of business, or (b) to secure the performance of Surety Obligations incurred in
the ordinary course of business consistent with industry practice or customs, penalty or appeal bonds, or (c) to secure performance
of bids, tenders, leases, construction, sales or servicing contracts and similar obligations incurred in the ordinary course of
business, or (d) to secure obligations in respect of customs, duties, excise taxes, value-added taxes, rents, or goods or services
(including utility services) provided to such Person by governmental entities or suppliers, or other similar items which under
U.S. GAAP constitute operating expense, or (e) to obtain or secure obligations with respect to letters of credit, guarantees, bonds
or other sureties or assurances given in connection with the activities described in clauses (a), (b), (c), and (d) of this clause
 ‎(12), in the case of each of (a), (b), (c), (d) and (e) not incurred or made in connection with the borrowing of money;

 

(13)           
Liens on receivables, leases, Receivables Assets or other financial assets incurred in connection with a Permitted Receivables
Transaction;

 

(14)           
judgment Liens against the Company or any Restricted Subsidiary not giving rise to an event of default and Liens created
pursuant to attachment, garnishee orders or other process in connection with pre-judgment court proceedings;

 

(15)           
Liens securing Indebtedness in an aggregate principal amount outstanding from time to time of no more than $250,000,000
arising in connection with (a) so-called “synthetic leases” or “tax retention operating leases,” or (b)
leases which are properly classified in accordance with U.S. GAAP as capitalized leases on the books of the Company or a Restricted
Subsidiary;

 

(16)            Liens
(x) arising in connection with the administration and operation of deposit accounts of the Company or any of the
Company’s subsidiaries operated and maintained outside of the U.S. in connection with cross-border or intracountry,
multiple currency cash pooling arrangements, including overdraft facilities; provided, however that such Liens shall not
extend beyond the amounts on deposit therein, (y) arising out of cash management, netting or set off arrangements made by
banks or financial institutions and the Company or any Subsidiary of the Company in the ordinary course of business, or over
any asset held with a clearing house and (z) arising by operation of law or by agreement in favor of collecting or payor
banks and other banks providing cash management services, in each case, having a right of setoff, revocation, refund or
chargeback against money or instruments of the Company or any Subsidiary of the Company on deposit with or in possession of
such bank to secure the payment of bank fees and other amounts owing in the ordinary course of business;

 

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(17)           
Liens pursuant to supply or consignment contracts or otherwise for the receipt of goods and services, encumbering only the
goods, inventory or equipment covered thereby, incurred in the ordinary course of business and not incurred or made in connection
with the borrowing of money;

 

(18)           
Liens securing contingent obligations in respect of acceptances, letters of credit, bank guarantees, surety bonds or similar
extensions of credit incurred in the ordinary course of business and not incurred or made in connection with the borrowing of money;

 

(19)           
any extension, renewal, substitution, refinancing or replacement (or successive extensions, renewals, substitutions, refinancings
or replacements), in whole or in part, of any of the Liens referred to in subsections ‎(1) through ‎(18) above or the
Indebtedness secured thereby;

 

(20)           
the interest of a licensor under any license of intellectual property in the ordinary course of business;

 

(21)           
Liens on assets pursuant to merger agreements, stock or asset purchase agreements and similar purchase agreements in respect
of the disposition of such assets by the Company or any Subsidiary of the Company;

 

(22)           
call arrangements, rights of first refusal and similar rights and customary reciprocal easements and other rights of use
relating to (w) investments in joint ventures, partnership and the like, (x) investments consisting of equity issued by suppliers
and other venture capital or similar direct investments, (y) ownership of undivided interests in assets subject to a joint ownership
or similar agreement or (z) assets acquired in original equipment manufacturing divestiture transactions or similar acquisitions
and arising in favor of the original seller or transferor of such assets (or their respective affiliates) pursuant to or in connection
with master services, manufacturing services or supply arrangements entered into in connection therewith; and

 

(23)           
Liens in favor of the Holders pursuant to this Indenture.

 

(c)            Except
in the case of any lien granted under the Credit Facilities (as to which no exceptions to the restrictions on Liens and the
obligation to equally and ratably secure the Notes set forth in this ‎Section 5.01(a) and ‎(b) apply), the
restriction on Liens on property or assets of the Company or any Restricted Subsidiary contained above will also not apply to
the creation, incurrence or assumption by the Company or any Restricted Subsidiary of a Lien which would otherwise be subject
to the restrictions under this ‎Section 5.01 if the aggregate principal amount of all Indebtedness secured by Liens on
property or assets of the Company and of any Restricted Subsidiary then outstanding (not including any such Indebtedness
secured by Liens permitted to be incurred pursuant to clauses ‎(1) through ‎(23) above) plus Attributable Debt of
the Company and its Restricted Subsidiaries in respect of Sale and Leaseback Transactions, that would otherwise be subject to
the restrictions of ‎Section 5.02 below (not including any such Sale and Leaseback transaction permitted under
paragraph ‎(1) thereof in reliance on an exception set forth in clauses ‎(1) through ‎(23) above of this
 ‎Section 5.01) does not at the time such Indebtedness is incurred exceed an amount equal to 15% of Consolidated Net
Tangible Assets.

 

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(d)           
For the purposes of determining compliance with this covenant, in the event that a Lien meets the criteria of more
than one of the types of Liens described above, the Company, in its sole discretion, will classify, and may reclassify, such Lien
and only be required to include the amount and type of such Lien in one of the clauses ‎(1) through ‎(23) of ‎Section
5.01(b) or ‎Section 5.01(c), and a Lien may be divided and classified and reclassified into more than one of the types of
Liens described above.

 

(e)           
For the purposes of this covenant, the creation of a Lien to secure a Guaranty or to secure Indebtedness which existed
prior to the creation of such Lien, will be deemed to involve Indebtedness in an amount equal to the lesser of (x) the fair market
value (as determined in good faith by the Company) of the asset subject to such Lien and (y) the principal amount guaranteed or
secured by such Lien, but the amount of Indebtedness secured by Liens will be computed without cumulating the underlying Indebtedness
with any guarantee thereof or lien securing the same.

 

Section 5.02. Limitation on
Sale and Leaseback Transactions. The Company will not, and will not permit any Restricted Subsidiary to, enter into any arrangement
after the Issue Date with any bank, insurance company or other lender or investor (other than the Company or another Restricted
Subsidiary) providing for the leasing by the Company or any such Restricted Subsidiary for a period of more than three years (other
than pursuant to so-called synthetic lease or tax retention operating lease transactions) of any property or assets which (x) at
the time of such lease have been or are to be owned by the Company or a Restricted Subsidiary for more than 180 days and (y) have
been or are to be sold or transferred by the Company or such Restricted Subsidiary to such lender or investor or to any person
to whom funds have been or are to be advanced by such lender or investor on the security of such property or assets (a “Sale
and Leaseback Transaction”), unless either:

 

(1)           
the Company and its Restricted Subsidiaries would be entitled, pursuant to ‎Section 5.01, to incur Indebtedness secured
by a Lien on such property or assets in a principal amount equal to or exceeding the Attributable Debt in respect of such Sale
and Leaseback Transaction without equally and ratably securing the Notes; or

 

(2)            the
Company, within 180 days after the sale or transfer, applies or causes a Restricted Subsidiary to apply an amount equal to
the greater of the net proceeds of such sale or transfer or the fair value of such property at the time of entering into such
sale and leaseback transaction (as determined by any two of the following: the Chief Executive Officer, the President, the
Chief Financial Officer, any Vice President, the Treasurer and the Controller of The Company) to the retirement of Notes or
other Funded Debt, of the Company (other than Funded Debt subordinated in right of payment to the Notes) or Funded Debt of a
Restricted Subsidiary; provided that the amount to be so applied shall be reduced by (i) the principal amount of the Notes
delivered within 180 days after such sale or transfer to the trustee for retirement and cancellation, and (ii) the principal
amount of any such Funded Debt of the Company or a Restricted Subsidiary, other than the Notes, voluntarily retired by the
Company or a Restricted Subsidiary within 180 days after such sale or transfer, excluding in the case of both (i) and (ii),
retirement pursuant to any mandatory prepayment or by payment at maturity.

 

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Section 5.03. Repurchase of
Notes Upon a Change of Control. Within 30 days following a Change of Control Repurchase Event with respect to a series of Notes,
or, at the Company’s option, prior to such Change of Control but after public announcement thereof, the Company (unless it
has exercised its right to redeem all the Notes of such series) shall make an Offer to Purchase all outstanding Notes of such series
at a purchase price equal to 101% of the aggregate principal amount plus accrued and unpaid interest to but not including the date
of purchase.

 

Section 5.04. Events of Default;
Acceleration. (a) Section 6.01 of the Base Indenture shall not apply to the Notes. Instead, each of the following events
shall be an “Event of Default” with respect to a series of Notes:

 

(1)           
the Company defaults in the payment of interest on any Note of such series, or any Additional Amounts payable with respect
thereto, when the same becomes due and payable, and the default continues for a period of 30 days;

 

(2)           
the Company defaults in the payment of the principal or any premium with respect to any Note of such series, or any Additional
Amounts payable with respect thereto, when the same becomes due and payable at maturity, upon acceleration or redemption, or otherwise;

 

(3)           
the Company defaults in the performance of or breaches any other covenant, warranty or agreement of the Company in the Indenture
with respect to such series of Notes or under such series of Notes (other than a covenant or warranty included therein solely for
the benefit of one or more series of Securities other than such series of Notes) and the default or breach continues for a period
of 90 consecutive days after written notice to the Company by the Trustee or to the Company and the Trustee by the Holders of not
less than 25% in aggregate principal amount of the applicable series of Notes specifying such default or breach and requiring it
to be remedied and stating that it is a “Notice of Default” under the Indenture;

 

(4)            there
occurs with respect to any issue or issues of Indebtedness (including any Guarantee and any other series of debt securities)
of the Company or any Significant Subsidiary having an outstanding principal amount of $100,000,000 or more in the aggregate
for all such issues of all such persons, whether such Indebtedness exists on the date hereof or shall hereafter be created,
(a) an event of default that has caused the holder thereof to declare such indebtedness to be due and payable prior to its
stated maturity and such indebtedness shall not have been discharged in full or such acceleration shall not have been
rescinded or annulled within 30 days of such acceleration and/or (b) the failure to make a principal payment at the final
(but not any interim) fixed maturity and such defaulted payment shall not have been made, waived or extended within 30 days
of such payment default;

 

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(5)           
the Company or any of its Significant Subsidiaries shall fail within 60 days to pay, bond or otherwise discharge uninsured
judgments or court orders for the payment of money in excess of $150,000,000 in the aggregate, which are not stayed on appeal or
are not otherwise being appropriately contested in good faith;

 

(6)           
an involuntary case or other proceeding is commenced against the Company or any Significant Subsidiary with respect to it
or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect seeking the appointment of a trustee,
receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and such involuntary case
or other proceeding remains undismissed and unstayed for a period of 60 days; or an order for relief is entered against the Company
or any Significant Subsidiary under the federal bankruptcy laws as now or hereafter in effect;

 

(7)           
the Company or any of its Significant Subsidiaries (i) commences a voluntary case under any applicable bankruptcy, insolvency
or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any
such law, (ii) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator
or similar official of the Company or any of its Significant Subsidiaries or of all or substantially all of the property and assets
of the Company or any of its Significant Subsidiaries or (iii) effects any general assignment for the benefit of creditors, in
each case, other than a proceeding initiated by or on behalf of the Company or a Subsidiary of the Company to effect the winding
up, dissolution or other termination of existence of a Subsidiary of the Company which is permitted under Section 3.05 of the Base
Indenture (an event of default specified in clause (6) or (7) a “bankruptcy default”);

 

(b)           
Section 6.02 of the Base Indenture shall be amended with respect to each series of Notes by replacing the first two
paragraphs of such section with the following:

 

“If an Event of Default, other than
a bankruptcy default with respect to the Company (but not any Significant Subsidiary of the Company), occurs and is continuing
under the Indenture with respect to a series of Notes, then, either the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes of such series then outstanding, by written notice to the Company (and to the Trustee if the notice is given
by the Holders), may declare the principal of and accrued interest on the Notes of such series to be immediately due and payable.
Upon a declaration of acceleration, such principal and interest will become immediately due and payable. If a bankruptcy default
occurs with respect to the Company, the principal of and accrued interest on Notes then outstanding will become immediately due
and payable without any declaration or other act on the part of the Trustee or any Holder.”

 

Section 5.05. Modification
and Waiver. (a) Article 9 of the Base Indenture, as amended by this ‎Section 5.05, shall apply to the Notes.

 

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(b)           
Section 9.01 of the Base Indenture shall not apply to the Notes. In lieu thereof, the Company and the Trustee, without
the consent of the Holders of the applicable series of Notes (or any other Security outstanding under the Base Indenture), may
modify or amend the Indenture in order:

 

(i)           
to add to the covenants of the Company in the Indenture for the benefit of the Holders of a series of Notes or to surrender
any right or power conferred upon the Company by the Indenture;

 

(ii)           
to add to the Events of Default or the covenants of the Company for the benefit of the Holders of a series of Notes;

 

(iii)           
to provide for uncertificated Notes in addition to or in place of certificated Notes of such series, provided that any such
uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code;

 

(iv)           
to evidence and provide for the acceptance of an appointment hereunder by a successor Trustee;

 

(v)           
to provide for any Guarantee of such series of Notes, to secure either series of Notes or to confirm and evidence the release,
termination or discharge of any Guarantee of or Lien securing such Notes when such release, termination or discharge is permitted
by the Indenture;

 

(vi)           
to cure any ambiguity, defect or inconsistency in the Indenture or such Notes;

 

(vii)           
to make any other change that does not materially and adversely affect the rights of any Holder of the applicable series
of Notes in any material respect;

 

(viii)           
to provide for the issuance of Additional Notes of such series, subject to the limitations set forth in ‎Section 3.03;

 

(ix)           
to comply with any requirements of the Commission in connection with the qualification of the Indenture under the Trust
Indenture Act;

 

(x)           
to provide for the assumption of the Company’s obligations in the case of a merger or consolidation and the Company’s
release and discharge upon such assumption provided that Article 4 of the Base Indenture is complied with; or

 

(xi)           
to conform the text of the Indenture or the Notes of such series to any corresponding provision of the “Description
of Notes” section of the Prospectus.

 

    24 

     

    

 

(c)           
Section 9.02 of the Base Indenture shall be amended with respect to the Notes by replacing clauses (i) through (ix)
of such Section with the following:

 

(i)           
reduce the principal amount of or change the Stated Maturity of any installment of principal of a series of Notes or any
Additional Amounts with respect thereto;

 

(ii)           
reduce the rate of or change the Stated Maturity of any interest payment on a series of Notes or any Additional Amounts
with respect thereto;

 

(iii)           
reduce the amount payable upon the redemption of a series of Notes or change the times at which such Notes may be redeemed
or, once notice of redemption has been given, the time at which it must thereupon be redeemed;

 

(iv)           
after the time an Offer to Purchase is required to have been made with respect to a series of Notes, reduce the purchase
amount or purchase price, or extend the latest expiration date or purchase date thereunder;

 

(v)           
change any place where, or the currency in which, a series of Notes are payable;

 

(vi)           
impair the right of any Holder of Notes to receive any principal payment or interest payment on such Holder’s Notes,
on or after the Stated Maturity thereof, or to institute suit for the enforcement of any such payment,

 

(vii)           
reduce the percentage of the principal amount of a series of Notes the consent of the Holders of which is required for amendments
or waivers or the requirements for a quorum or voting at a meeting of Holders; or

 

(viii)           
modify or change any provision of the Indenture affecting the ranking of (or with respect to any collateral securing a series
of Notes, the priority of) a series of Notes in a manner adverse to the Holders of such Notes.

 

Section 5.06. References
In Base Indenture. References to “Section 6.01,” “clause (a) or (b) of Section 6.01,” “clause
(c) of Section 6.01,” “Section 6.01(d)” or “Section 6.01(e)” in the Base Indenture shall be deemed
to refer to “‎Section 5.04(a),” “clause (1) or (2) of ‎Section 5.04(a),” “clause (3)
of ‎Section 5.04(a),” “‎Section 5.04(a)(6)” and ‎Section 5.04(a)(7)” of this Third Supplemental
Indenture, respectively.

 

Section 5.07. Defeasance
and Discharge. Article 8 of the Base Indenture shall apply to the Notes.

 

Section 5.08. Bermuda
Branch; Full Recourse Obligations. For the avoidance of doubt, Section 1.17 of the Base Indenture shall apply to the Notes.

 

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Article
6

Payment of Additional Amounts

 

Section 6.01. Payment
of Additional Amounts. (a) Any amounts paid, or caused to be paid, by the Company or any of its successors pursuant to
Section 3.01 of the Base Indenture will be paid without deduction or withholding for any and all present and future taxes, levies,
imposts or other governmental charges (“Taxes”) whatsoever imposed, assessed, levied or collected by or on
behalf of Singapore, including any political subdivision or taxing authority thereof, or the jurisdiction of incorporation or
residence of any successor, or any Subsidiary, branch, division or other entity through which the Company may from time to time
direct any payments of principal, premium, if any, and interest on the Notes or any political subdivision or taxing authority
thereof (an “Other Jurisdiction”). If deduction or withholding of any Taxes shall at any time be required by
Singapore or any Other Jurisdiction, the Company or any relevant successor will, subject to timely compliance by the Holders or
beneficial owners of the relevant Notes with any relevant administrative requirements, notify the Trustee and pay or cause to
be paid such additional amounts (“Additional Amounts”) in respect of principal of, premium, if any, or interest,
as may be necessary in order that the net amounts paid to the Holders of the Notes outstanding on the date of the required payment
or the Trustee as the case may be, pursuant to the Indenture, after the deduction or withholding, shall equal the respective amounts
that the Holder would have received if the Taxes had not been withheld or deducted.

 

(b)           
Notwithstanding the foregoing, no Additional Amounts shall be paid to any Holder or beneficial owner for or on account
of any of the following:

 

(i)           
any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the fact that the
Holder or beneficial owner of the relevant Note has or had some connection with Singapore or any Other Jurisdiction, including
that the Holder or beneficial owner is or has been a domiciliary, national or resident of, engages or has been engaged in a trade
or business, is or has been organized under, maintains or has maintained an office, a branch subject to taxation, or a permanent
establishment, or is or has been physically present in Singapore or any Other Jurisdiction, or otherwise has or has had some connection
with Singapore or any Other Jurisdiction, other than solely the holding or ownership of a Note, or the collection of principal
of, premium, if any, and interest on, or the enforcement of, a Note;

 

(ii)           
any present or future Taxes which would not have been so imposed, assessed, levied or collected but for the fact that, where
presentation is required, the relevant Note was presented more than 30 days after the date such payment became due or was provided
for, whichever is later;

 

(iii)           
any present or future taxes which are payable otherwise than by deduction or withholding on or in respect of the relevant
Note;

 

    26 

     

    

 

(iv)            any
present or future Taxes which would not have been so imposed, assessed, levied or collected but for the failure to comply, on
a sufficiently timely basis, with any certification, identification or other reporting requirements concerning the
nationality, residence, identity or connection with Singapore or any Other Jurisdiction of the Holder or beneficial owner of
the relevant Note, if such compliance is required by a statute or regulation or administrative practice of Singapore, the
Other Jurisdiction or any other relevant jurisdiction, or by a relevant treaty, as a condition to relief or exemption from
such taxes;

 

(v)           
any present or future Taxes (A) which would not have been so imposed, assessed, levied or collected if the beneficial owner
of the relevant Note had been the Holder of such Note, or (B) which, if the beneficial owner of such Note had held the Note as
the Holder of such Note, would have been excluded pursuant to any one or combination of clauses ‎(i) through ‎(iv)
above;

 

(vi)           
any capital gain, estate, inheritance, gift, sale, transfer, personal property or similar tax, assessment or other governmental
charge; or

 

(vii)           
any combination of the above.

 

Article
7

Miscellaneous

 

Section 7.01. Confirmation
of Indenture. The Base Indenture, as supplemented and amended by this Third Supplemental Indenture, is in all respects ratified
and confirmed, and the Base Indenture and this Third Supplemental Indenture shall be read, taken and construed as one and the
same instrument.

 

Section 7.02. Counterparts.
This Third Supplemental Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the
same agreement. The exchange of copies of this Third Supplemental Indenture and of signature pages by facsimile or PDF transmission
shall constitute effective execution and delivery of this Third Supplemental Indenture as to the parties hereto and may be used
in lieu of the original Third Supplemental Indenture and signature pages for all purposes.

 

Section 7.03. Governing
Law; Submission to Jurisdiction. This Third Supplemental Indenture and the Notes shall be governed by, and construed in accordance
with, the laws of the State of New York. To the fullest extent permitted by applicable law, the Company hereby irrevocably submits
to the jurisdiction of any Federal or State court located in the Borough of Manhattan in The City of New York, New York in any
suit, action or proceeding based on or arising out of or relating to this Indenture or any Notes and irrevocably agrees that all
claims in respect of such suit or proceeding may be determined in any such court. The Company irrevocably waives, to the fullest
extent permitted by law, any objection which it may have to the laying of the venue of any such suit, action or proceeding brought
in such a court and any claim that any suit, action or proceeding brought in such a court has been brought in an inconvenient
forum. The Company agrees that final judgment in any such suit, action or proceeding brought in such a court may be enforced in
the courts of any jurisdiction to which the Company is subject by a suit upon such judgment, provided that service of process
is effected upon the Company in the manner specified herein or as otherwise permitted by law. To the extent that the Company has
or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice,
attachment prior to judgment, attachment in aid of execution, executor or otherwise) with respect to itself or its property, the
Company hereby irrevocably waives such immunity in respect of its obligations under this Indenture, to the extent permitted by
law.

 

    27 

     

    

 

The Company hereby appoints CT Corporation
System, with offices on the date hereof at 111 Eighth Avenue, New York, New York 10011, as its authorized agent (the “Authorized
Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Indenture
or the Notes or the transactions contemplated herein that may be instituted in any State or U.S. federal court in the Borough of
Manhattan in The City of New York, by any Holder or the Trustee, and expressly accepts the non-exclusive jurisdiction of any such
court in respect of any such suit, action or proceeding. The Company hereby represents and warrants that the Authorized Agent has
accepted such appointment and has agreed to act as said agent for service of process, and the Company agrees to take any and all
action, including the filing of any and all documents, that may be necessary to continue such appointment in full force and effect
as aforesaid. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon
the Company.

 

Section 7.04. Recitals
by the Company. The recitals in this Third Supplemental Indenture are made by the Company only and not by the Trustee, and
the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency
of this Third Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company
of the Notes or the proceeds thereof. All of the provisions contained in the Base Indenture in respect of the rights, privileges,
immunities, powers and duties of the Trustee shall be applicable in respect of the Notes and of this Third Supplemental Indenture
as fully and with like effect as if set forth herein in full.

 

[Signature pages follow]

 

    28 

     

    

 

IN WITNESS WHEREOF, the parties have caused
this Third Supplemental Indenture to be duly executed as of the date first written above.

 

	 	FLEX LTD. 
	 	 
	 	By:	/s/ B. Vijayandran A/L S. Balasingam
	 	 	Name:	B. Vijayandran A/L S.
	 	 	 	Balasingam
	 	 	Title:	Authorized Signatory

 

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

 

[Signature Page – Third Supplemental Indenture]

 

     

     

    

 

EXHIBIT A

 

FORM OF NOTE

 

(FACE OF NOTE)

 

THIS SECURITY IS ISSUED IN GLOBAL FORM AND
REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”) OR A NOMINEE THEREOF. UNLESS
THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS 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.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM IN ACCORDANCE WITH THE TERMS HEREOF AND OF THE INDENTURE (AS DEFINED BELOW),
THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE
OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 

    A-1 

     

    

 

FLEX LTD.

3.750% Notes due 2026

 

No. R-[●]

CUSIP No.: [●]

ISIN No.: [●]

Initially $________________

 

FLEX LTD., a Singapore registered public
company limited by shares and having company registration no. 199002645H, promises to pay to CEDE & CO., or registered assigns,
the principal sum set forth on the Schedule of Exchanges of Securities attached hereto on February 1, 2026.

 

Issue Date: [●], 20[●]

 

Interest Rate: 3.750% per annum

 

Interest Payment Dates: February 1 and August
1

 

Record Dates: January 15 and July 15

 

Additional provisions of this Note are set
forth on the reverse hereof. This Note is a “Security” within the meaning of the Indenture, and all references to “Note”
or “Notes” herein shall be deemed to refer to “Security” or “Securities” unless the context
otherwise requires.

 

    A-2 

     

    

 

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

 

	 	FLEX LTD.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

    A-3 

     

    

 

	TRUSTEE’S CERTIFICATE
 OF AUTHENTICATION: 	 
	 	 	 	 	 
	U.S. Bank National Association, 
 as Trustee, certifies that this is 
 one of the Securities referred to 
 in the Indenture.	 	 	 

 

	By:	 	 	Dated:	 
	 	Authorized Signatory

 

    A-4 

     

    

 

[REVERSE SIDE OF NOTE]

FLEX LTD.

 

3.750% Note Due 2026

 

1.        Principal and
Interest.

 

The Company promises to pay the principal
of this Note on February 1, 2026.

 

The Company promises to pay interest on
the principal amount of this Note on each interest payment date, as set forth on the face of this Note, at the rate of 3.750% per
annum (subject to adjustment as provided below).

 

Interest will be payable semiannually in
arrears on each February 1 and August 1 (to the holders of record of this series of Notes at the close of business on the January
15 or July 15 immediately preceding the interest payment date), commencing [●], 20[●].

 

The Company must also pay certain Additional
Amounts as specified in the Indenture upon a “Change in Tax Law” as defined in the Indenture.

 

Interest on this Note will accrue from the
most recent date to which interest has been paid on this Note (or, if there is no existing default in the payment of interest and
if this Note is authenticated between a regular record date and the next Interest Payment Date, from such Interest Payment Date)
or, if no interest has been paid, from the Issue Date. Interest shall be computed on the basis of a 360-day year comprised
of twelve 30-day months.

 

The Company will pay interest on overdue
principal, premium, if any, and, to the extent lawful, interest at a rate per annum of 3.750%. Interest not paid when due and any
interest on principal, premium or interest not paid when due will be paid to the Persons that are Holders of this series of Notes
on a special record date, which will be the 15th day preceding the date fixed by the Company or the Trustee for the payment of
such interest, whether or not such day is a Business Day. At least 15 days before a special record date, the Company will send
to each Holder and to the Trustee a notice that sets forth the special record date, the payment date and the amount of interest
to be paid.

 

2.       Indenture.

 

This is one of the 3.750% Notes due
2026 (the “Notes”) issued under an Indenture dated as of June 6, 2019 (the “Base
Indenture”), as supplemented by the Third Supplemental Indenture dated as of May 12, 2020 (the
 “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”),
between the Company and U.S. Bank National Association, as Trustee. Capitalized terms used herein are used as defined in the
Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the
Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the
event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture will
control.

 

    A-5 

     

    

 

The Notes are general unsecured obligations
of the Company. The Indenture limits the original aggregate principal amount of the Notes to $425,000,000, but Additional Notes
may be issued pursuant to the Indenture, and the originally issued Notes and all such Additional Notes vote together for all purposes
as a single class.

 

3.        Redemption and
Repurchase; Discharge Prior to Redemption or Maturity.

 

This Note is subject to optional redemption,
and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption
applicable to this Note.

 

If the Company deposits or causes to be
deposited with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if
any, and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the
Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture.

 

4.        Registered Form;
Denominations; Transfer; Exchange.

 

The Notes are in registered form without
coupons in minimum denominations of $2,000 principal amount and any integral multiple of $1,000 in excess thereof. A Holder may
register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate
endorsements, transfer documents, certificates and opinions of counsel and to pay any taxes and fees required by law or permitted
by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue,
register the transfer of or exchange any Note or certain portions of a Note.

 

5.        Defaults and
Remedies.

 

Other than as set forth below, if an Event
of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the Notes may declare all the Notes to be due and payable. If a bankruptcy or insolvency default with respect to the Company
occurs and is continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except
as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes.
Subject to certain limitations, Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee
in its exercise of remedies.

 

6.       Amendment and
Waiver.

 

Subject to certain exceptions, the
Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a majority in principal
amount of the outstanding Notes, as provided in the Indenture. Without notice to or the consent of any Holder, the Company
and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or
inconsistency.

 

    A-6 

     

    

 

7.       Authentication.

 

This Note is not valid until the Trustee
(or Authenticating Agent) manually signs the certificate of authentication on the other side of this Note.

 

8.       Governing Law.

 

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

 

9.       Abbreviations.

 

Customary abbreviations may be used in the
name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint
tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act).

 

10.       Indenture.

 

Each Holder, by accepting a Note, agrees
to be bound by all of the terms and conditions of the Indenture, as the same may be amended from time to time.

 

The Company will furnish a copy of the Indenture
to any Holder upon written request and without charge.

 

    A-7 

     

    

 

 

ASSIGNMENT FORM

 

To assign this Security, fill in the form below:

 

I or we assign and transfer this Security to

 

(Insert assignee’s soc. sec. or tax I.D. No.)

 

(Print or type assignee’s name, address and zip
code)

 

and irrevocably appoint ________________ agent to transfer this
Security on the books of the Company. The agent may substitute another to act for him.

 

 

 

Dated: ________________________________

 

Signed: ________________________________

(Sign exactly as your name appears on the other side of this
Security)

 

Signature Guarantee: ________________________________

 

 

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.

 

 

 

    A-8

     

    

 

PURCHASE NOTICE UPON
A CHANGE OF CONTROL REPURCHASE EVENT

 

To: Flex Ltd.

 

The undersigned registered owner of this
Note hereby acknowledges receipt of a notice from Flex Ltd. (the “Company”) as to the occurrence of a Change
of Control Repurchase Event with respect to the Company and hereby directs the Company to pay, or cause the Trustee to pay,                                  
an amount in cash equal to 101% of the aggregate principal amount of the Notes, or the portion thereof (which is $2,000 principal
amount or an integral multiple of $1,000 in excess thereof) below designated, to be purchased plus interest accrued and unpaid
to, but excluding, the purchase date, except as provided in the Indenture. The undersigned hereby agrees that the Notes will be
purchased pursuant to the terms and conditions of the Offer to Purchase and the Indenture. Capitalized terms used herein and not
otherwise defined herein have the meanings assigned to them in the Indenture dated as of June 6, 2019 (the “Base
Indenture”), as supplemented by the Third Supplemental Indenture dated as of May 12, 2020 (the “Supplemental
Indenture” and, together with the Base Indenture, the “Indenture”), between the Company and U.S.
Bank National Association, as Trustee.

 

Principal amount to be repurchased (at least
$2,000 or an integral multiple of $1,000 in excess thereof):                      

 

Remaining principal amount following such
repurchase:                      

 

 

 

Dated: ________________________________

 

Signed: ________________________________

(Sign exactly as your name appears on the other side of this
Security)

 

Signature Guarantee: ________________________________

  

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.

 

 

 

    A-9

     

    

 

SCHEDULE OF EXCHANGES
OF SECURITIES

 

The initial principal amount of this Global Security is ________________
DOLLARS ($________________). The following exchanges of a part of this Global Security for certificated Securities or a part of
another Global Security have been made:

 

	
        Date
        of Exchange
	
        Amount
        of decrease

        in principal amount

        of this Global Security
	
        Amount
        of increase

        in principal amount

        of this Global Security
	
        Principal
        amount of

        this Global Security

        following such

        decrease (or

        increase)
	
        Signature
        of

        authorized signatory of

        Trustee

	 	 	 	 	 

 

    A-10

     

    

 

EXHIBIT B

 

FORM OF NOTE

 

(FACE OF NOTE)

 

THIS SECURITY IS ISSUED IN GLOBAL FORM AND
REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”) OR A NOMINEE THEREOF. UNLESS
THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS 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.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM IN ACCORDANCE WITH THE TERMS HEREOF AND OF THE INDENTURE (AS DEFINED BELOW),
THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE
OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 

    B-1

     

    

 

FLEX LTD.

4.875% Notes due 2030

 

No. R-[●]

CUSIP No.: [●]

ISIN No.: [●]

Initially $________________

 

FLEX LTD., a Singapore registered public
company limited by shares and having company registration no. 199002645H, promises to pay to CEDE & CO., or registered assigns,
the principal sum set forth on the Schedule of Exchanges of Securities attached hereto on May 12, 2030.

 

Issue Date: [●], 20[●]

 

Interest Rate: 4.875% per annum

 

Interest Payment Dates: May 12 and November
12

 

Record Dates: April 27 and October 28

 

Additional provisions of this Note are set
forth on the reverse hereof. This Note is a “Security” within the meaning of the Indenture, and all references to “Note”
or “Notes” herein shall be deemed to refer to “Security” or “Securities” unless the context
otherwise requires.

 

    B-2

     

    

 

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

 

	 	FLEX
    LTD.
	 	 
	 	By:	         
	 	 	Name:	 
	 	 	Title:	 

 

    B-3

     

    

 

TRUSTEE’S CERTIFICATE
 OF AUTHENTICATION:

 

U.S. Bank National Association, 
 as Trustee, certifies that this is 
 one of the Securities referred to 
 in the Indenture.    

 

	By:	 	 	Dated:	 
	 	Authorized Signatory

 

    B-4

     

    

 

[REVERSE SIDE OF NOTE]

FLEX LTD.

 

4.875% Note Due 2030

 

1.        Principal and
Interest.

 

The Company promises to pay the principal
of this Note on May 12, 2030.

 

The Company promises to pay interest on
the principal amount of this Note on each interest payment date, as set forth on the face of this Note, at the rate of 4.875% per
annum (subject to adjustment as provided below).

 

Interest will be payable semiannually in
arrears on each May 12 and November 12 (to the holders of record of this series of Notes at the close of business on the April
27 or October 28 immediately preceding the interest payment date), commencing [●], 20[●].

 

The Company must also pay certain Additional
Amounts as specified in the Indenture upon a “Change in Tax Law” as defined in the Indenture.

 

Interest on this Note will accrue from the
most recent date to which interest has been paid on this Note (or, if there is no existing default in the payment of interest and
if this Note is authenticated between a regular record date and the next Interest Payment Date, from such Interest Payment Date)
or, if no interest has been paid, from the Issue Date. Interest shall be computed on the basis of a 360-day year comprised
of twelve 30-day months.

 

The Company will pay interest on overdue
principal, premium, if any, and, to the extent lawful, interest at a rate per annum of 4.875%. Interest not paid when due and any
interest on principal, premium or interest not paid when due will be paid to the Persons that are Holders of this series of Notes
on a special record date, which will be the 15th day preceding the date fixed by the Company or the Trustee for the payment of
such interest, whether or not such day is a Business Day. At least 15 days before a special record date, the Company will send
to each Holder and to the Trustee a notice that sets forth the special record date, the payment date and the amount of interest
to be paid.

 

2.       Indenture.

 

This is one of the 4.875% Notes due
2030 Notes (the “Notes”) issued under an Indenture dated as of June 6, 2019 (the “Base
Indenture”), as supplemented by the Third Supplemental Indenture dated as of May 12, 2020 (the
 “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”),
between the Company and U.S. Bank National Association, as Trustee. Capitalized terms used herein are used as defined in the
Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the
Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the
event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture will
control.

 

    B-5

     

    

 

The Notes are general unsecured obligations
of the Company. The Indenture limits the original aggregate principal amount of the Notes to $325,000,000, but Additional Notes
may be issued pursuant to the Indenture, and the originally issued Notes and all such Additional Notes vote together for all purposes
as a single class.

 

3.        Redemption and
Repurchase; Discharge Prior to Redemption or Maturity.

 

This Note is subject to optional redemption,
and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption
applicable to this Note.

 

If the Company deposits or causes to be
deposited with the Trustee money or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, if
any, and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the
Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture.

 

4.        Registered Form;
Denominations; Transfer; Exchange.

 

The Notes are in registered form without
coupons in minimum denominations of $2,000 principal amount and any integral multiple of $1,000 in excess thereof. A Holder may
register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate
endorsements, transfer documents, certificates and opinions of counsel and to pay any taxes and fees required by law or permitted
by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue,
register the transfer of or exchange any Note or certain portions of a Note.

 

5.        Defaults and
Remedies.

 

Other than as set forth below, if an Event
of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the Notes may declare all the Notes to be due and payable. If a bankruptcy or insolvency default with respect to the Company
occurs and is continuing, the Notes automatically become due and payable. Holders may not enforce the Indenture or the Notes except
as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes.
Subject to certain limitations, Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee
in its exercise of remedies.

 

6.       Amendment and
Waiver.

 

Subject to certain exceptions, the
Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a majority in principal
amount of the outstanding Notes, as provided in the Indenture. Without notice to or the consent of any Holder, the Company
and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or
inconsistency.

 

    B-6

     

    

 

7.       Authentication.

 

This Note is not valid until the Trustee
(or Authenticating Agent) manually signs the certificate of authentication on the other side of this Note.

 

8.       Governing Law.

 

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

 

9.       Abbreviations.

 

Customary abbreviations may be used in the
name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint
tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act).

 

10.     Indenture.

 

Each Holder, by accepting a Note, agrees
to be bound by all of the terms and conditions of the Indenture, as the same may be amended from time to time.

 

The Company will furnish a copy of the Indenture
to any Holder upon written request and without charge.

 

    B-7

     

    

 

ASSIGNMENT FORM

 

To assign this Security, fill in the form below:

 

I or we assign and transfer this Security to

 

(Insert assignee’s soc. sec. or tax I.D. No.)

 

(Print or type assignee’s name, address and zip
code)

 

and irrevocably appoint ________________ agent to transfer this
Security on the books of the Company. The agent may substitute another to act for him.

 

 

 

Dated: ________________________________

 

Signed: ________________________________

(Sign exactly as your name appears on the other side of this
Security)

 

Signature Guarantee: ________________________________

 

 

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.

 

 

 

    B-8

     

    

 

PURCHASE NOTICE UPON
A CHANGE OF CONTROL REPURCHASE EVENT

 

To: Flex Ltd.

 

The undersigned registered owner of this
Note hereby acknowledges receipt of a notice from Flex Ltd. (the “Company”) as to the occurrence of a Change
of Control Repurchase Event with respect to the Company and hereby directs the Company to pay, or cause the Trustee to pay,                                  
an amount in cash equal to 101% of the aggregate principal amount of the Notes, or the portion thereof (which is $2,000 principal
amount or an integral multiple of $1,000 in excess thereof) below designated, to be purchased plus interest accrued and unpaid
to, but excluding, the purchase date, except as provided in the Indenture. The undersigned hereby agrees that the Notes will be
purchased pursuant to the terms and conditions of the Offer to Purchase and the Indenture. Capitalized terms used herein and not
otherwise defined herein have the meanings assigned to them in the Indenture dated as of June 6, 2019 (the “Base
Indenture”), as supplemented by the Third Supplemental Indenture dated as of May 12, 2020 (the “Supplemental
Indenture” and, together with the Base Indenture, the “Indenture”), between the Company and U.S. Bank
National Association, as Trustee.

 

 

 

Principal amount to be repurchased (at least
$2,000 or an integral multiple of $1,000 in excess thereof):                      

 

Remaining principal amount following such
repurchase:                      

 

 

 

Dated: ________________________________

 

Signed: ________________________________

(Sign exactly as your name appears on the other side of this
Security)

 

Signature Guarantee: ________________________________

 

 

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.

 

 

 

    B-9

     

    

 

SCHEDULE OF EXCHANGES
OF SECURITIES

 

The initial principal amount of this Global Security is ________________
DOLLARS ($________________). The following exchanges of a part of this Global Security for certificated Securities or a part of
another Global Security have been made:

 

	
        Date
        of Exchange
	
        Amount
        of decrease

        in principal amount

        of this Global Security
	
        Amount
        of increase

        in principal amount

        of this Global Security
	
        Principal
        amount of

        this Global Security

        following such

        decrease (or

        increase)
	
        Signature
        of

        authorized signatory of

        Trustee

	 	 	 	 	 

 

    B-10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]