Document:

Indenture - March 7, 2008

 EXHIBIT 4.6 
 CENTRAL EUROPEAN DISTRIBUTION CORPORATION 
  
  
 INDENTURE 
 DATED AS OF MARCH 7, 2008 
  
  
 THE BANK OF NEW YORK,

 AS TRUSTEE 

 CROSS REFERENCE TABLE1 
  

					
	 TRUST INDENTURE ACT SECTION
	  	INDENTURE
SECTION
	310	 	(a)(1)	  	7.8; 7.10
		 	(a)(2)	  	7.10
		 	(a)(3)	  	N.A.
		 	(a)(4)	  	N.A.
		 	(a)(5)	  	7.10
		 	(b)	  	7.8; 7.10
		 	(c)	  	N.A.
	311	 	(a)	  	7.11
		 	(b)	  	7.11
		 	(c)	  	N.A.
	312	 	(a)	  	2.7
		 	(b)	  	12.3
		 	(c)	  	12.3
	313	 	(a)	  	7.6
		 	(b)	  	7.6
		 	(c)	  	7.6; 12.2
		 	(d)	  	7.6
	314	 	(a)	  	4.2; 12.2
		 	(b)	  	N.A.
		 	(c)(1)	  	12.4
		 	(c)(2)	  	12.4
		 	(c)(3)	  	N.A.
		 	(d)	  	N.A.
		 	(e)	  	12.6
		 	(f)	  	4.3
	315	 	(a)	  	7.1
		 	(b)	  	7.5; 12.2
		 	(c)	  	7.1
		 	(d)	  	7.1
		 	(e)	  	6.11
	316	 	(a)(1)(A)	  	6.5
		 	(a)(1)(B)	  	6.4
		 	(a)(2)	  	N.A.
		 	(b)	  	6.7
		 	(c)	  	N.A.
	317	 	(a)(1)	  	6.8
		 	(a)(2)	  	6.9
		 	(b)	  	2.6
	318	 	(a)	  	12.1

  

	 1
	 Note: This Cross
Reference Table shall not, for any purpose, be deemed to be part of the Indenture. 

  

 i 

 TABLE OF CONTENTS2 
  

							
	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	  	1
				
	      Section	 	1.01	    	Definitions	  	1
	      Section	 	1.02	    	Other Definitions	  	6
	      Section	 	1.03	    	Incorporation by Reference of Trust Indenture Act	  	6
	      Section	 	1.04	    	Rules of Construction	  	6
		
	ARTICLE II THE SECURITIES	  	7
				
	      Section	 	2.01	    	Forms Generally	  	7
	      Section	 	2.02	    	Securities in Global Form	  	7
	      Section	 	2.03	    	Title, Terms and Denominations	  	9
	      Section	 	2.04	    	Execution, Authentication, Delivery and Dating	  	13
	      Section	 	2.05	    	Registrar and Paying Agent	  	15
	      Section	 	2.06	    	Paying Agent to Hold Money and Securities in Trust	  	16
	      Section	 	2.07	    	Securityholder Lists	  	16
	      Section	 	2.08	    	Transfer and Exchange	  	16
	      Section	 	2.09	    	Replacement Securities and Coupons	  	20
	      Section	 	2.10	    	Outstanding Securities; Determinations of Holders’ Action	  	21
	      Section	 	2.11	    	Temporary Securities	  	22
	      Section	 	2.12	    	Cancellation	  	24
	      Section	 	2.13	    	Payment of Interest; Interest Rights Preserved	  	24
	      Section	 	2.14	    	Persons Deemed Owners	  	25
	      Section	 	2.15	    	Computation of Interest	  	26
		
	ARTICLE III REDEMPTION	  	26
				
	      Section	 	3.01	    	Right to Redeem; Notices to Trustee	  	26
	      Section	 	3.02	    	Selection of Securities to be Redeemed	  	26
	      Section	 	3.03	    	Notice of Redemption	  	27
	      Section	 	3.04	    	Effect of Notice of Redemption	  	27
	      Section	 	3.05	    	Deposit of Redemption Price	  	28
	      Section	 	3.06	    	Securities Redeemed in Part	  	28
		
	ARTICLE IV COVENANTS	  	29
				
	      Section	 	4.01	    	Payment of Securities	  	29
	      Section	 	4.02	    	SEC Reports	  	29
	      Section	 	4.03	    	Compliance Certificate	  	29
	      Section	 	4.04	    	Further Instruments and Acts	  	30
	      Section	 	4.05	    	Maintenance of Office or Agency	  	30
	      Section	 	4.06	    	Additional Amounts	  	31
		
	ARTICLE V SUCCESSOR CORPORATION	  	32
				
	      Section	 	5.01	    	When Company May Merge or Transfer Assets	  	32

  

	 2
	 Note: This Table of Contents shall not, for any purpose, be deemed to be part of the Indenture.

  

 ii 

							
	ARTICLE VI DEFAULTS AND REMEDIES	  	33
				
	      Section	 	6.01	    	Events of Default	  	33
	      Section	 	6.02	    	Acceleration	  	34
	      Section	 	6.03	    	Other Remedies	  	34
	      Section	 	6.04	    	Waiver of Past Defaults	  	35
	      Section	 	6.05	    	Control by Majority	  	35
	      Section	 	6.06	    	Limitation on Suits	  	35
	      Section	 	6.07	    	Rights of Holders to Receive Payment	  	36
	      Section	 	6.08	    	Collection Suit by Trustee	  	36
	      Section	 	6.09	    	Trustee May File Proofs of Claim	  	36
	      Section	 	6.10	    	Priorities	  	37
	      Section	 	6.11	    	Undertaking for Costs	  	37
	      Section	 	6.12	    	Waiver of Stay, Extension or Usury Laws	  	37
		
	ARTICLE VII TRUSTEE	  	38
				
	      Section	 	7.01	    	Duties of Trustee	  	38
	      Section	 	7.02	    	Rights of Trustee	  	39
	      Section	 	7.03	    	Individual Rights of Trustee, Etc	  	40
	      Section	 	7.04	    	Trustee’s Disclaimer	  	40
	      Section	 	7.05	    	Notice of Defaults	  	41
	      Section	 	7.06	    	Reports by Trustee to Holders	  	41
	      Section	 	7.07	    	Compensation and Indemnity	  	41
	      Section	 	7.08	    	Replacement of Trustee	  	42
	      Section	 	7.09	    	Successor Trustee by Merger	  	43
	      Section	 	7.10	    	Eligibility; Disqualification	  	44
	      Section	 	7.11	    	Preferential Collection of Claims Against Company	  	44
		
	ARTICLE VIII SATISFACTION AND DISCHARGE	  	44
				
	      Section	 	8.01	    	Discharge of Liability on Securities	  	44
	      Section	 	8.02	    	Repayment to the Company	  	45
	      Section	 	8.03	    	Option to Effect Defeasance or Covenant Defeasance	  	46
	      Section	 	8.04	    	Defeasance and Discharge	  	46
	      Section	 	8.05	    	Covenant Defeasance	  	46
	      Section	 	8.06	    	Conditions to Defeasance or Covenant Defeasance	  	46
		
	ARTICLE IX SUPPLEMENTAL INDENTURES	  	47
				
	      Section	 	9.01	    	Supplemental Indentures without Consent of Holders	  	47
	      Section	 	9.02	    	Supplemental Indentures with Consent of Holders	  	48
	      Section	 	9.03	    	Compliance with Trust Indenture Act	  	49
	      Section	 	9.04	    	Revocation and Effect of Consents, Waivers and Actions	  	49
	      Section	 	9.05	    	Notation On or Exchange of Securities	  	50
	      Section	 	9.06	    	Trustee to Sign Supplemental Indentures	  	50
	      Section	 	9.07	    	Effect of Supplemental Indentures	  	50

  

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	ARTICLE X SINKING FUNDS	  	50
				
	      Section	 	10.01	    	Applicability of Article	  	50
	      Section	 	10.02	    	Satisfaction of Sinking Fund Payments with Securities	  	50
	      Section	 	10.03	    	Redemption of Securities for Sinking Fund	  	51
		
	ARTICLE XI ACTIONS OF HOLDERS OF SECURITIES	  	51
				
	      Section	 	11.01	    	Purposes for which Meetings May Be Called	  	51
	      Section	 	11.02	    	Call, Notice and Place of Meetings	  	51
	      Section	 	11.03	    	Persons Entitled to Vote at Meeting	  	52
	      Section	 	11.04	    	Quorum; Action	  	52
	      Section	 	11.05	    	Determination of Voting Rights; Conduct and Adjournment of Meetings	  	53
	      Section	 	11.06	    	Counting Votes and Recording Action of Meetings	  	53
	      Section	 	11.07	    	Actions of Holders Generally	  	54
		
	ARTICLE XII MISCELLANEOUS	  	55
				
	      Section	 	12.01	    	Trust Indenture Act Controls	  	55
	      Section	 	12.02	    	Notices	  	55
	      Section	 	12.03	    	Communication by Holders with Other Holders	  	57
	      Section	 	12.04	    	Certificate and Opinion as to Conditions Precedent	  	57
	      Section	 	12.05	    	Form of Documents Delivered to Trustee	  	57
	      Section	 	12.06	    	Statements Required in Certificate or Opinion	  	57
	      Section	 	12.07	    	Separability Clause	  	58
	      Section	 	12.08	    	Rules by Trustee, Paying Agent and Registrar	  	58
	      Section	 	12.09	    	Legal Holidays	  	58
	      Section	 	12.10	    	Governing Law and Jurisdiction	  	58
	      Section	 	12.11	    	Waiver of Jury Trial	  	59
	      Section	 	12.12	    	No Recourse against Others	  	59
	      Section	 	12.13	    	Successors	  	59
	      Section	 	12.14	    	Effect of Headings and Table of Contents	  	59
	      Section	 	12.15	    	Benefits of Indenture	  	59
	      Section	 	12.16	    	Multiple Originals	  	59
	      Section	 	12.17	    	Force Majeure	  	59

  

							
	EXHIBIT A	  	–	  	FORM OF CERTIFICATE RELATING TO DEBT SECURITIES	  	A-1
				
	EXHIBIT B	  	–	  	FORM OF ACCOUNTHOLDER’S CERTIFICATION	  	B-1

  

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 INDENTURE dated as of March 7, 2008, by and between Central European Distribution Corporation, a
Delaware corporation (“Company”), and The Bank of New York, a New York banking corporation, as trustee (“Trustee”). 
 RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (the “Securities”) to be issued in one or more series as in this Indenture provided. 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal
and ratable benefit of the Holders of the Securities or each series thereof as follows: 
 ARTICLE I 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01
Definitions. 
 “Affiliate” of any specified person means any other person directly or indirectly controlling or controlled
by or under direct or indirect common control with such specified person. For the purposes of this definition, “Control” when used with respect to any specified person means the power to direct or cause the direction of the
management and policies of such person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “Controlling” and “Controlled” have meanings correlative to
the foregoing. 
 “Authorized Newspaper” means a newspaper, in the English language or, at the option of the Company, in an
official language of the country of publication, customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which the term is used or in the
financial community of such place. Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different Authorized Newspapers meeting the foregoing requirements and in
each case on any Business Day. 
 “Bearer Security” means any Security in the form (to the extent applicable thereto)
established pursuant to Section 2.01 which is payable to the bearer. 
 “Board of Directors” means the board of directors of
the Company or any committee of such board authorized with respect to any matter to exercise the powers of the Board of Directors of the Company. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee. 

 “Business Day” means, except as otherwise specified as contemplated by Section 2.03(a),
with respect to any Place of Payment or any other particular location referred to in this Indenture or in the Securities, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of
Payment or other location are authorized or obligated by law or executive order to close. 
 “Capital Stock” for any
corporation means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that corporation. 
 “Cash” means such coin or currency of the United States as at any time of payment is legal tender for the payment of public and private
debts. 
 “Clearstream” means Clearstream Banking, societe anonyme. 
 “Company” means the party named as the “Company” in the first paragraph of this Indenture until a successor replaces it
pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. 
 “Company Request” or
“Company Order” means a written request or order signed in the name of the Company by its Chairman of the Board, a Vice Chairman, its Chief Executive Officer, its President, its Chief Financial Officer or a Vice President, and by
its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee or, with respect to Sections 2.04, 2.08, 2.11 and 7.02, any other employee of the Company named in an Officers’ Certificate delivered
to the Trustee. 
 “Coupon” means any interest Coupon appertaining to a Bearer Security. 
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 
 “Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in global form, the person
specified as contemplated by Section 2.03(a) as the Depositary with respect to such series of Securities, until a successor shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary”
shall mean or include such successor. 
 “Discount Security” means any Security which provides for an amount less than the
Principal Amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02. 
 “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and private debts. 
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System or any successor entity. 
  

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 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Holder” or “Securityholder,” when used with respect to any Security, means, in the case of a Registered Security, a
person in whose name a Security is registered on the Registrar’s books and, in the case of a Bearer Security, the bearer thereof and, when used with respect to any Coupon, means the bearer thereof. 
 “Indenture” means this Indenture, as amended or supplemented from time to time in accordance with the terms hereof and shall include the
terms of a particular series of Securities established as contemplated in Section 2.03(a). 
 “Interest,” when used with
respect to a Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 
 “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Maturity,” when used with respect to any Security, means the date on which the Principal of such Security or an installment of Principal or, in the case of a Discount Security, the Principal Amount
payable upon a declaration of acceleration pursuant to Section 6.02, becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Officer” means the Chairman of the Board, any Vice Chairman, the Chief Executive Officer, the President, the Chief Financial Officer,
any Vice President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company. 
 “Officers’ Certificate” means a written certificate containing, to the extent applicable, the information specified in Sections 12.04 and 12.06, signed in the name of the Company by its Chairman of the Board, a Vice
Chairman, its Chief Executive Officer, its President, its Chief Financial Officer or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion containing, to the extent applicable, the information specified in Sections 12.04 and
12.06, from legal counsel. The counsel may be an employee of, or counsel to, the Company or the Trustee. 
 “Periodic
Offering” means an offering of Securities of a series from time to time the specific terms of which Securities, including, without limitation, the rate or rates of interest, if any, thereon, the Stated Maturity or Maturities thereof, the
original issue date or dates thereof, the redemption provisions, if any, and any other terms specified as contemplated by Section 2.03(a) with respect thereto, are to be determined by the Company, or one or more of the Company’s agents
designated in an Officers’ Certificate, upon the issuance of such Securities. 
 “Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization, or government or any agency or political subdivision thereof. 
  

 3 

 “Place of Payment,” when used with respect to the Securities of any series, means the
place or places where, subject to the provisions of Section 4.05, the Principal of and any interest on the Securities of that series are payable as specified as contemplated by Section 2.03(a). 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.09 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a
mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security or the Security to which the mutilated, destroyed, lost or stolen Coupon appertains, as the case
may be. 
 “Principal” or “Principal Amount” of a Security, except as otherwise specifically provided in
this Indenture, means the outstanding principal of the Security plus the premium, if any, of the Security. 
 “Redemption
Date,” when used with respect to any Security to be redeemed, shall mean the date specified for redemption of such Security in accordance with the terms of such Security and this Indenture. 
 “Redemption Price,” when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to
this Indenture. 
 “Registered Security” means any Security in the form (to the extent applicable thereto) established
pursuant to Section 2.01 which is registered on the books of the Registrar. 
 “Regular Record Date” for the interest
payable on any Interest Payment Date on the Registered Securities of any series means the date specified for that purpose as contemplated by Section 2.03(a). 
 “SEC” means the Securities and Exchange Commission. 
 “Securities” has the
meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
 “Securityholder” or “Holder,” when used with respect to any Security, means in the case of a Registered Security, a person in whose name a Security is registered on the Registrar’s books and, in the
case of a Bearer Security, the bearer thereof and, when used with respect to any Coupon, means the bearer thereof. 
 “Special Record
Date” for the payment of any Defaulted Interest on the Registered Securities of any issue means a date fixed by the Trustee pursuant to Section 2.13. 
 “Stated Maturity,” when used with respect to any Security or any installment of Principal thereof or interest thereon, means the date specified in such Security or a Coupon representing such
installment of interest as the fixed date on which an amount equal to the Principal of such Security or an installment of Principal thereof or interest thereon, as applicable, is due and payable. 
  

 4 

 “Subsidiary” means, with respect to any person, (A) a corporation of which a
majority of the Capital Stock having voting power under ordinary circumstances to elect a majority of the board of directors of such corporation is owned by (i) such person, (ii) such person and one or more Subsidiaries or (iii) one
or more Subsidiaries of such person; or (B) any other person (other than a corporation) in which such, one or more of its subsidiaries, or such and one or more of its subsidiaries, directly or indirectly, own at least a majority ownership
interest. 
 “TIA” means the Trust Indenture Act of 1939 as in effect on the date of this Indenture, except as provided in
Section 9.03. 
 “Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust
department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of this Indenture. 
 “Trustee” means the party named as the “Trustee” in the first
paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. 
 “United States” means the United States of America, its territories, its possessions (including the Commonwealth of Puerto Rico), and other areas subject to its jurisdiction. 
 “United States Alien” means any person who, for United States Federal income tax purposes, is not a United States person. 
 “United States Person” means (i) any individual who is (or is treated as) a citizen or resident of the United States, (ii) a
corporation, partnership or other entity created or organized in or under the laws of the United States or, in the case of a partnership, otherwise is treated as a United States person under applicable U.S. treasury regulations, (iii) an estate
the income of which is subject to United States Federal income taxation regardless of its source, or (iv) a trust (a) the administration of which is subject to the primary supervision of a United States court and which has one or more
United States persons who have the authority to control all substantial decisions of the trust, or (b) that has a valid election in effect under applicable U.S. treasury regulations to be treated as a U.S person. 
  

 5 

 Section 1.02 Other Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “Bankruptcy Law”
	  	6.1    
	 “Common Depositary”
	  	2.2    
	 “Custodian”
	  	6.1    
	 “Defaulted Interest”
	  	2.13    
	 “Event of Default”
	  	6.1    
	 “Exchange Date”
	  	2.2    
	 “Legal Holiday”
	  	12.9    
	 “Notice of Default”
	  	6.1    
	 “Outstanding”
	  	2.10    
	 “Paying Agent”
	  	2.5    
	 “Permanent Global Bearer Security”
	  	2.2    
	 “Registrar”
	  	2.5    
	 “Temporary Global Bearer Security”
	  	2.2    

 Section 1.03 Incorporation by Reference of Trust Indenture Act. Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC. 
 “Indenture Securities” means the Securities. 
 “Indenture Security Holder” means a Holder or
Securityholder. 
 “Indenture to be Qualified” means this Indenture. 
 “Indenture Trustee” or “Institutional Trustee” means the Trustee. 
 “Obligor” on the indenture securities means the Company. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
 Section 1.04 Rules of Construction. Unless the context otherwise requires: 
 (i) a term has the meaning assigned to it; 
 (ii) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting principles in the United States as in effect from time to time; 
 (iii) “or” is not exclusive; 
 (iv) “including” means including, without limitation; 
  

 6 

 (v) “herein,” “hereof” and other words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision of this Indenture; and 
 (vi) words
in the singular include the plural, and words in the plural include the singular, as the context requires. 
 ARTICLE II 
 THE SECURITIES 
 Section 2.01 Forms Generally. The
Registered Securities, if any, of each series and the Bearer Securities, if any, of each series and related Coupons shall be in substantially such form (including global form) as shall be established by delivery to the Trustee of an Officers’
Certificate or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other
marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the Officers executing such Securities or Coupons as
evidenced by their execution of the Securities or Coupons. The Officers’ Certificate so establishing the form of Security or Coupons, if any, of any series shall be delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 2.04 for the authentication and delivery of such Securities or Coupons. 
 Unless otherwise specified as contemplated
by Section 2.03(a), Bearer Securities shall have interest Coupons attached. 
 The permanent Securities and Coupons, if any, shall be
printed, lithographed, engraved or word processed or produced by any combination of these methods or may be produced in any other manner, provided, that such method is permitted by the rules of any securities exchange on which such Securities
may be listed, all as determined by the Officers executing such Securities as evidenced by their execution of such Securities. 
 Section 2.02 Securities in Global Form. If Securities of a series are issuable in temporary or permanent global form, as specified as contemplated by Section 2.03(a), then, notwithstanding clause (10) of Section 2.03(a) and the
provisions of Section 2.03(b), any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time
endorsed thereon or otherwise notated on the books and records of the Registrar and that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any endorsement of a Security in
global form to reflect the amount of any increase or decrease in the amount of Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon instructions given by such person or persons as shall be specified therein
or in the Company Order to be delivered to the Trustee pursuant to Section 2.04 or Section 2.11, or as otherwise specified as contemplated by Section 2.03(a). Subject to the provisions of Section 2.04 and, if applicable, Section 2.11, the Trustee
shall deliver and redeliver any Security in global form in the manner and upon 

  

 7 

 
instructions given by the person or persons specified therein or in the applicable Company Order, except as otherwise specified as contemplated by Section
2.03(a). If a Company Order pursuant to Section 2.04 or 2.11 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or other notation on the books and records of the Registrar or delivery or redelivery
of a Security of such series in global form shall be in writing but need not comply with Section 12.04 or 12.06 and need not be accompanied by an Opinion of Counsel (except as required by Section 2.04). 
 The provisions of the last sentence of Section 2.04 shall apply to any Security represented by a Security in global form if such Security was never
issued and sold by the Company, and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 12.04 or 12.06 and need not be accompanied by an Opinion of Counsel) with
regard to the reduction in the Principal Amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 2.04. 
 Notwithstanding the provisions of Sections 2.01 and 2.13, payment of Principal of and any interest on any Security in global form shall be made to the person or persons specified therein or shall be made as specified
as contemplated by Section 2.03(a). 
 Any series of Bearer Securities shall be issued initially in the form of one temporary global Bearer
Security (the “Temporary Global Bearer Security”), which Temporary Global Bearer Security shall be deposited on behalf of the beneficial owners of the Bearer Securities represented thereby with a depositary designated by the
Company, as common depositary (the “Common Depositary”), for credit to their respective accounts (or to such other accounts as they may direct) at Euroclear Bank S.A./N.V., Brussels office, as operator of Euroclear or Clearstream.

 On or before the date 40 days after the later of the announcement of the offering of Bearer Securities and the date of settlement thereof
(the “Exchange Date”), the Company shall deliver to a Paying Agent located outside the United States, or its designated agent, a Temporary Bearer Security representing such Bearer Securities and executed by the Company. On or after
the Exchange Dates, such Temporary Global Bearer Security shall be surrendered by the Common Depositary thereof to the Trustee or its agent, as the Company’s agent for such purpose, to be exchanged, in whole or from time to time in part, at the
sole discretion of the Company for (i) Bearer Securities or (ii) a permanent global Bearer Security (the “Permanent Global Bearer Security”) without charge to Holders, and the principal Paying Agent or other Paying Agent
outside the United States shall authenticate and deliver (at an office or agency outside the United States), in exchange for the Temporary Global Bearer Security or the portions thereof to be exchanged, an equal aggregate principal amount of Bearer
Securities or the Permanent Global Bearer Security, as shall be specified by the beneficial owners thereof; provided, however, that upon such surrender by the Common Depositary, the Temporary Global Bearer Security shall be accompanied by a
certificate dated the Exchange Date or a subsequent date and signed by Euroclear as to the portion of the Temporary Global Bearer Security held for its account then to be exchanged and a certificate dated the Exchange Date or a subsequent date and
signed by Clearstream as to the portion of the Temporary Global Bearer Security held for its account then to be exchanged, each to the effect hereinafter provided. The Company and the 

  

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Trustee agree that they will cooperate in causing the paying agent located outside the United States to retain each certificate provided by Euroclear or
Clearstream for a period of four calendar years following the year in which the certificate is received and not to destroy or otherwise dispose of any such certificate without first offering to deliver it to the Company. 
 Each certificate to be provided by Euroclear and Clearstream shall be substantially in the form attached hereto as Exhibit A or with such changes therein
as shall be approved by the Company and be satisfactory to the Trustee. 
 Each certificate received by Euroclear and Clearstream from
persons appearing in their records as persons entitled to a portion of the Temporary Global Bearer Security shall be substantially to the effect set forth in this Indenture or as otherwise acceptable to the Company. 
 Upon any such exchange of a portion of the Temporary Global Bearer Security for Bearer Securities or the Permanent Global Bearer Security, the Temporary
Global Bearer Security shall be endorsed to reflect the reduction of the principal amount evidenced thereby. Until so exchanged in full, the Temporary Global Bearer Security shall in all respects be entitled to the same benefits under, and subject
to the same terms and conditions of, this Indenture as Bearer Securities authenticated and delivered hereunder, except that none of Euroclear, Clearstream or the beneficial owners of the Temporary Global Bearer Security shall be entitled to receive
payment of interest or other payments thereon or to convert the Temporary Global Bearer Security, or any portion thereof, into Common Stock of the Company or any other security (including a Registered Security or a Bearer Security, except as
provided in the fifth paragraph of this section Section 2.02), cash or other property. 
 Section 2.03 Title, Terms and Denominations.

 (a) The aggregate Principal Amount of Securities which may be authenticated and delivered under this Indenture shall be unlimited.

 The Securities may be issued in one or more series. The terms and other provisions of each series shall be established and, subject to
Section 2.04, set forth, or determined in the manner provided, in an Officers’ Certificate of the Company or established in or pursuant to one or more indentures supplemental hereto, including, without limitation: 
 (1) the title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities);

 (2) any limit upon the aggregate Principal Amount of the Securities of the series which may be authenticated and delivered
under this Indenture; 
 (3) whether Securities of the series are to be issuable as Registered Securities, Bearer Securities
or both, whether any Securities of the series may be represented initially by a Security in temporary or permanent global form and, if so, the initial Depositary with respect to any such temporary or permanent global Security, and if other than as
provided in Section 2.08 or Section 2.11, as applicable, whether and the circumstances under which beneficial owners of interests in any such temporary or permanent global Security may exchange such interests for Securities of such series and of
like tenor of any authorized form and denomination; 
  

 9 

 (4) the Authorized Newspapers for publication of notices to holders of Bearer Securities;

 (5) any other terms required for the establishment of a series of Bearer Securities, including, but not limited to, tax
compliance procedures; 
 (6) the price or prices at which the Securities of the series will be issued; 
 (7) the person to whom any interest on any Registered Security of the series shall be payable, if other than the person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, the manner in which, and the person to whom, any interest on any Bearer Security of the series shall be payable, if
otherwise than upon presentation and surrender of the Coupons appertaining thereto as they severally mature and the extent to which, or the manner in which (including any certification requirement and other terms and conditions under which), any
interest payable on a temporary or permanent global Security on an Interest Payment Date will be paid if other than in the manner provided in Section 2.02 and Section 2.04, as applicable; 
 (8) the date or dates on which the Principal of and premium, if any, on the Securities of the series is payable or the method or methods,
if any, of determination thereof; 
 (9) the rate or rates at which the Securities of the series shall bear interest, if any,
or the method or methods, if any, used to calculate those rate or rates; 
 (10) the stated maturities of installments of
interest, if any, on which any Interest on the Securities of the series will be payable and the Regular Record Dates for any Interest payable on any Securities of the series which are Registered Securities; 
 (11) the place or places where, subject to the provisions of Section 4.05, the Principal of and any premium or interest on Securities of
the series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer, Securities of the series may be surrendered for exchange and notices and demands to or upon the Company in respect of the
Securities of the series and this Indenture may be served; 
 (12) the period or periods within which, the price or prices at
which and the terms and conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of the Company; 
 (13) the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof, the conditions, if any, giving rise
to such obligation, and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be redeemed or purchased, in whole or in part, and any provisions for the remarketing of
such Securities; 
  

 10 

 (14) the denominations in which any Registered Securities of the series shall be
issuable, if other than denominations of $1,000 and any integral multiple thereof, and the denomination or denominations in which any Bearer Securities of the series shall be issuable, if other than denominations of $5,000 and $100,000; 

(15) the currency or currencies, including composite currencies, in which payment of the Principal of and any premium or interest on
the Securities of the series shall be payable if other than the currency of the United States, and if so, whether the Securities of the series may be satisfied and discharged other than as provided in ARTICLE VIII; 
 (16) if the amount of payments of Principal of and any premium or interest on the Securities of the series is to be determined with
reference to an index, formula or other method, or based on a coin or currency other than that in which the Securities are stated to be payable, the manner in which such amounts shall be determined and the calculation agent, if any, with respect
thereto; 
 (17) if other than the Principal Amount thereof, the portion of the Principal Amount of any Securities of the
series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 
 (18) if
the Company will pay additional amounts on any of the Securities and interest, if any, of the series to any Holder who is a United States Alien (including any modification in the definition of such term), in respect of any tax, assessment or
governmental charge withheld or deducted, under what circumstances and with what procedures and documentation the Company will pay such additional amounts, whether such additional amounts will be treated as interest or Principal pursuant to this
Indenture, and whether the Company will have the option to redeem such Securities rather than pay additional amounts (and the terms of any such option); 
 (19) if other than as defined in Section 1.01, the meaning of “Business Day” when used with respect to any Securities of the series; 
 (20) whether, and the terms and conditions upon which, the Securities of the series may or must be converted or exchanged into securities
of the Company or another enterprise; 
 (21) any terms applicable to Original Issue Discount, if any, (as that term is
defined in the Internal Revenue Code of 1986 and the Regulations thereunder) including the rate or rates at which such Original Issue Discount, if any, shall accrue; 
 (22) if the Securities of the series may be issued or delivered (whether upon original issuance or upon exchange of a temporary Security
of such series or otherwise), or any installment of Principal of or any interest is payable, only upon receipt of certain certificates or other documents or satisfaction of other conditions in addition to those specified in this Indenture, the form
and terms of such certificates, documents or conditions; 
  

 11 

 (23) whether the Securities of the series, in whole or any specified part, shall not be
defeasible pursuant to Section 8.04 or Section 8.05 or both such Sections and, if other than by an Officers’ Certificate, the manner in which any election by the Company to defease such Securities shall be evidenced; 
 (24) any addition to or change in the Events of Default which apply to any Securities of the series and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02; 
 (25) any addition to or change in the covenants set forth in ARTICLE IV which apply to Securities of the series; and 
 (26) any other terms of the series. 
 Notwithstanding anything in this Indenture to the contrary, in the
event of any conflict or discrepancy between the terms of a series of Securities as established pursuant to the Officers’ Certificate or supplemental indenture contemplated by this Section 2.03(a) and the terms of this Indenture, the terms of
such series as established pursuant to such Officers’ Certificate or supplemental indenture shall, for purposes of such series, apply to the extent of such conflict or discrepancy. 
 All Securities of any one series and the Coupons appertaining to any Bearer Securities of such series shall be substantially identical except as to
denomination and the rate or rates of interest, if any, and Stated Maturity, the date from which interest, if any, shall accrue and except as may otherwise be provided in or pursuant to an Officers’ Certificate pursuant to this Section 2.03(a)
or in any indenture supplemental hereto. 
 All Securities of any one series need not be issued at the same time and, unless otherwise
provided, a series may be reopened for issuances of additional Securities of such series or for the establishment of additional terms with respect to the Securities of such series. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a copy of any appropriate record of such action shall
be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. With respect to Securities of a series subject
to a Periodic Offering, such Board Resolution or Officers’ Certificate may provide general terms for Securities of such series and provide either that the specific terms of particular Securities of such series shall be specified in a Company
Order or that such terms shall be determined by the Company, or one or more of the Company’s agents designated in an Officers’ Certificate, in accordance with the Company Order as contemplated by the first proviso of the third paragraph of
Section 2.04. 
 (b) Unless otherwise provided as contemplated by Section 2.03(a) with respect to any series of Securities, any Registered
Securities of a series shall be issuable in denominations of $1,000 and any integral multiple thereof and any Bearer Securities of a series shall be issuable in denominations of $5,000 and $100,000. 
  

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 Section 2.04 Execution, Authentication, Delivery and Dating. The Securities shall be executed on
behalf of the Company by its Chairman of the Board, one of its Vice Chairmen, its Chief Executive Officer, its Chief Financial Officer, its President or one of its Vice Presidents, or the Treasurer or any Assistant Treasurer, attested by its
Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. Coupons shall bear the facsimile signature of any of the foregoing persons. 
 Securities and Coupons bearing the manual or facsimile signatures of individuals who were, at the time such signatures were imprinted on such Securities,
the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to, at or after the authentication and delivery of such Securities or did not hold such offices at
the date of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture (and subject to delivery
of the Board Resolution or Officers’ Certificate or supplemental indenture as set forth in Section 2.03 with respect to the initial issuance of Securities of any series), the Company may deliver Securities of any series together with any
Coupons appertaining thereto, executed by the Company to the Trustee or its authenticating agent for authentication, together with a Company Order for the authentication and delivery of such Securities; and the Trustee or its authenticating agent in
accordance with such Company Order shall authenticate and deliver such Securities; provided, however, that, with respect to Securities of a series subject to a Periodic Offering, (a) such Company Order may be delivered by the Company to
the Trustee or its authenticating agent prior to the delivery to the Trustee of such Securities for authentication and delivery, (b) the Trustee or the authenticating agent shall authenticate and deliver Securities of such series for original
issue from time to time, in an aggregate Principal Amount not exceeding the aggregate Principal Amount established for such series, pursuant to a Company Order or pursuant to such procedures acceptable to the Trustee as may be specified from time to
time by a Company Order, (c) the rate or rates of interest, if any, the Stated Maturity or Maturities, the original issue date or dates, the redemption provisions, if any, and any other terms of Securities of such series shall be determined by
a Company Order or pursuant to such procedures and (d) if provided for in such procedures, such Company Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company, or the Company’s duly
authorized agent or agents designated in an Officers’ Certificate, which instructions shall be promptly confirmed in writing; and provided, further, that, no Bearer Security or Coupon shall be mailed or otherwise delivered to any person
who is not a United States Alien or to any location in the United States. Except as permitted by Section 2.09, the Trustee’s authenticating agent shall not authenticate and deliver any Bearer Security unless all appurtenant Coupons for interest
then matured have been detached and cancelled. 
 If the forms or terms of the Securities of the series and any related Coupons have been
established in or pursuant to one or more Officers’ Certificates as permitted by Sections 2.01 and 2.03(a), in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities,
the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel stating: 
 (a) that the form
and terms of such Securities and any Coupons have been duly authorized by the Company and established in conformity with the provisions of this Indenture; and 
  

 13 

 (b) that such Securities, together with any Coupons appertaining thereto, when authenticated and
delivered by the Trustee or its authenticating agent and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in
accordance with their terms, subject to customary exceptions; provided, however, that, with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to receive such Opinion of Counsel only once at or
prior to the time of the first authentication of Securities of such series (provided, that such Opinion of Counsel covers all Securities of such series) and that the Opinion of Counsel above may state: 
 (x) that the forms of such Securities have been, and the terms of such Securities (when established in accordance with such procedures as may be specified
from time to time in a Company Order, all as contemplated by and in accordance with a Board Resolution or an Officers’ Certificate or supplemental indenture pursuant to Section 2.03(a), as the case may be) will have been, duly authorized by the
Company and established in conformity with the provisions of this Indenture; and 
 (y) that such Securities, together with the Coupons, if
any, appertaining thereto, when (1) executed by the Company, (2) completed, authenticated and delivered by the Trustee or in the case of Bearer Securities and Coupons, an authenticating agent located outside the United States, in
accordance with this Indenture, and (3) issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with
their terms, subject to customary exceptions. 
 With respect to Securities of a series subject to a Periodic Offering, the Trustee may
conclusively rely, as to the authorization by the Company of any of such Securities, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and other documents delivered pursuant
to Sections 2.01 and 2.03(a) and this Section, as applicable, at or prior to the time of the first authentication of Securities of such series unless and until it has received written notification that such opinion or other documents have been
superseded or revoked. In connection with the authentication and delivery of Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume, unless it has received written notice to the contrary or any of its Trust
Officers has actual knowledge to the contrary, that the Company’s instructions to authenticate and deliver such Securities do not violate any rules, regulations or orders of any governmental agency or commission having jurisdiction over the
Company. 
 Notwithstanding the provisions of Section 2.03(a) and of the preceding three paragraphs, if all Securities of a series are
subject to a Periodic Offering, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 2.03(a) at or prior to the time of authentication of each Security of such series if such Officers’
Certificate is delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 
  

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 Each Registered Security shall be dated the date of its authentication; and, unless otherwise specified
as contemplated by Section 2.03(a), each Bearer Security (including a Bearer Security represented by a temporary global Security) shall be dated as of the date of original issuance of the first Security of such series to be issued. 
 The Trustee (at the expense of the Company) may appoint an authenticating agent acceptable to the Company to authenticate Securities. Unless otherwise
provided in the appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. 
 No Security or Coupon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized signatory, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder. The Trustee’s certificate of authentication shall be in substantially the following form: 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	The Bank of New York, as Trustee
		
	By:	 	  

		 	Authorized Officer

 Notwithstanding the foregoing, if any Security shall have been duly authenticated and
delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 2.12 together with a written statement (which need not comply with Section 12.04 or
12.06 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered
hereunder and shall never be entitled to the benefits of this Indenture. 
 Section 2.05 Registrar and Paying Agent. The Company shall
maintain, with respect to each series of Securities, an office or agency where such Securities may be presented for registration of transfer or for exchange (“Registrar”) and an office or agency where such Securities may be
presented for purchase or payment (“Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying agents.
The term Paying Agent includes any additional paying agent. 
  

 15 

 The Company shall enter into an appropriate agency agreement with respect to each series of Securities
with any Registrar, Paying Agent or co-registrar (if not the Trustee). The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of any such agent. If the
Company fails to maintain a Registrar or Paying Agent for a particular series of Securities, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Company or any Subsidiary or an
Affiliate of either of them may act as Paying Agent, Registrar or co-registrar. 
 The Company initially appoints the Trustee as the
Registrar and Paying Agent in connection with each series of Securities. 
 Section 2.06 Paying Agent to Hold Money and Securities in
Trust. Not later than 10:00 am (London, England time) on each due date of the principal, premium, if any, and interest on the Securities, the Company shall deposit with the Paying Agent money in immediately available funds sufficient to pay
such principal, premium, if any, and interest so becoming due on the due date for payment under any the Securities. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust
for the benefit of Holders or the Trustee all money held by such Paying Agent for the making of payments in respect of the Securities of such series and shall notify the Trustee in writing of any default by the Company in making any such payment. At
any time during the continuance of any such default, a Paying Agent shall, upon the written request of the Trustee, forthwith pay to the Trustee all money so held in trust with respect to such Securities. If the Company, a Subsidiary or an Affiliate
of either of them acts as Paying Agent for a series of Securities, it shall segregate the money held by it as Paying Agent with respect to such Securities and hold it as a separate trust fund. The Company at any time may require a Paying Agent for a
series of Securities to pay all money held by it with respect to such Securities to the Trustee and to account for any money disbursed by it. Upon doing so, such Paying Agent shall have no further liability for the money. 
 Section 2.07 Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it
of the names and addresses of Holders of each series of Securities. If the Trustee is not the Registrar for any series of Securities, the Company shall, upon the written request of the Trustee, cause to be furnished to the Trustee at least
semiannually on June 1 and December 1 of each year a listing of Holders of such series of Securities dated within 15 days of the date on which the list is furnished. In addition, If the Trustee is not the Registrar for any series of
Securities, the Company shall provide the Trustee, at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders of such series
of Securities. 
 Section 2.08 Transfer and Exchange. Upon surrender for registration of transfer of any Security at the office or
agency of the Company designated pursuant to Section 4.05 for such purpose in a Place of Payment, the Company shall execute, and the Trustee shall authenticate 

  

 16 

 
and deliver, in the name of the designated transferee or transferees, one or more new Securities of any authorized denomination or denominations of a like
aggregate Principal Amount and tenor. The Company shall not charge a service charge for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges
that may be imposed in connection with the transfer or exchange of the Securities from the Securityholder requesting such transfer or exchange (other than any exchange of a temporary Security for a definitive Security not involving any change in
ownership or any exchange pursuant to Section 2.11, 3.06, 9.05 or 10.03, not involving any transfer). 
 Notwithstanding any other provisions
(other than the provisions set forth in the sixth and seventh paragraphs) of this Section, a Security in global form representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such
series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor
Depositary. 
 At the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same
series of any authorized denomination or denominations, of a like aggregate Principal Amount and tenor, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company
shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. Bearer Securities may not be issued in exchange for Registered Securities. 
 At the option of the Holder, Bearer Securities of any series may be exchanged for Registered Securities of the same series of any authorized denomination
or denominations and of a like aggregate Principal Amount and tenor, upon surrender of the Bearer Securities to be exchanged at any office or agency of the Company located outside the United States, with all unmatured Coupons and all matured Coupons
in default thereto appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured Coupon or Coupons or matured Coupon or Coupons in default, such exchange may be effected if the Bearer Securities are accompanied by payment
in funds acceptable to the Company and the Trustee or Paying Agent in an amount equal to the face amount of such missing Coupon or Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company, the Paying Agent and the
Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing Coupon in respect
of which such a payment shall have been made, such Holder shall be entitled to receive the amount of such payment when the same becomes due; provided, however, that, except as otherwise provided in Section 4.05, interest represented by
Coupons shall be payable only upon presentation and surrender of those Coupons at an office or agency located outside the United States. Notwithstanding the foregoing in this paragraph, in case a Bearer Security of any series is surrendered at any
such office or agency in exchange for a Registered Security of the same series and like tenor after the close of business at such office or agency on (i) any Regular Record Date and before the opening of business at such office or agency on the
relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment 

  

 17 

 
of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such Interest Payment Date or proposed date for payment, as
the case may be, and interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer
Security, but will be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture. 
 Whenever any
Securities are surrendered for exchange in accordance herewith and subject to the provisions hereof, the Company shall execute, and the Trustee or a duly appointed authenticating agent shall authenticate and deliver, the Securities which the Holder
making the exchange is entitled to receive. 
 If at any time the Depositary for the Securities of a series notifies the Company that it is
unwilling or unable to continue as Depositary for the Securities of such series, the Company shall appoint a successor Depositary with respect to the Securities of such series. If a successor Depositary for the Securities of such series is not
appointed by the Company within 90 days after the Company receives such notice, the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series, will authenticate
and deliver Securities of such series in definitive form in an aggregate Principal Amount equal to the Principal Amount of the Security or Securities in global form representing such series in exchange for such Security or Securities in global form
in accordance with the instructions, if any, of the Depositary. 
 The Company may at any time and in its sole discretion determine that the
Securities of any series issued in the form of one or more global Securities shall no longer be represented by such global Security or Securities. In such event the Company will execute, and the Trustee, upon receipt of a Company Order for the
authentication and delivery of definitive Securities of such series, will authenticate and deliver Securities of such series in definitive form and in an aggregate Principal Amount equal to the Principal Amount of the Security or Securities in
global form representing such series in exchange for such Security or Securities in global form in accordance with the instructions, if any, of the Depositary. 
 A series of Permanent Global Bearer Securities will be exchanged by the Company in whole but not only in part at the option of the holders for definitive Bearer Securities of such series in an aggregate Principal
Amount equal to the Principal Amount of the corresponding Permanent Global Bearer Securities, in all cases at the cost and expense of the Company. If the Company is notified of such a request, the Company will execute, and the Trustee, upon receipt
of a Company Order for the authentication and delivery of definitive Bearer Securities of such series in such aggregate Principal Amount, will authenticate and deliver definitive Bearer Securities of such series in such aggregate Principal Amount
outside the United States in accordance with the instructions, if any, of the Depositary, provided, however, that no definitive Bearer Security or coupon delivered in exchange for a portion of a series of Permanent Global Bearer Securities
shall be mailed or otherwise delivered to any person that is not a United States Alien, or to any location in the United States. 
 Notwithstanding the foregoing in this Section, except as otherwise specified in the preceding two paragraphs or as contemplated by Section 2.03(a), any global Security shall be 

  

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exchangeable only as provided in this paragraph. If the beneficial owners of interests in a global Security are entitled to exchange such interests for
definitive Securities of such series and of like Principal Amount and tenor but of another authorized form and denomination, as specified as contemplated by Section 2.03(a), then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities in aggregate Principal Amount equal to the Principal Amount of such global Security, executed by the Company. On or after the earliest
date on which such interests may be so exchanged, such global Security shall be surrendered by the Depositary with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or from time to time in part,
for definitive Securities without charge and the Trustee or, in the case of Bearer Securities, an authenticating agent outside the United States shall authenticate and deliver, in exchange for each portion of such global Security, an equal aggregate
Principal Amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such global Security to be exchanged which, unless the Securities of the series are not issuable both as Bearer Securities
and as Registered Securities, as specified as contemplated by Section 2.03(a), shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, as shall be specified by the beneficial owner thereof; provided,
however, that notwithstanding the last paragraph of this Section 2.08, no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of that series to be redeemed and ending on the
relevant Redemption Date; and provided, further, that no Bearer Security or Coupon delivered in exchange for a portion of a global Security shall be mailed or otherwise delivered to any person that is not a United States Alien or to any
location in the United States. If a Registered Security is issued in exchange for any portion of a global Security after the close of business at the office or agency where such exchange occurs on (i) any Regular Record Date and before the
opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, then
interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such Interest Payment Date or
proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such global Security is payable in accordance with the provisions of this Indenture. 
 Upon the exchange of a Security in global form for Securities in definitive form, such Security in global form shall be cancelled by the Trustee. All
cancelled Securities and Coupons held by the Trustee shall be disposed of by the Trustee and a certificate of their disposal delivered to the Company upon its request therefor, unless the Company directs, by Company Order, that the Trustee shall
deliver such Securities to the Company. Registered Securities issued in exchange for a Security in global form pursuant to this Section 2.08 shall be registered in such names and in such authorized denominations as the Depositary for such Security
in global form, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver such Registered Securities as instructed in writing by the Depositary. 
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same
debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
  

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 Every Registered Security presented or surrendered for registration of transfer or for exchange shall be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 
 The Company shall not be required (i) to issue, register the transfer of or exchange Securities of any series during a period beginning at the
opening of business 15 days before any selection of Securities of that series to be redeemed and ending (except as otherwise provided in the first proviso in the eighth paragraph of this Section 2.08) at the close of business on (A) if
Securities of the Series are issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B) if Securities of the series are issuable as Bearer Securities, the day of the first publication of the
relevant notice of redemption or, if Securities of the series are also issuable as Registered Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii) to register the transfer of or exchange any
Registered Security so selected for redemption, in whole or in part, except the unredeemed portion of any Security being redeemed in part, or (iii) to exchange any Bearer Security so selected for redemption except that such a Bearer Security
may be exchanged for a Registered Security of that series and like tenor, provided, that such Registered Security shall be simultaneously surrendered for redemption. 
 Section 2.09 Replacement Securities and Coupons. If (a) any mutilated Security or a Security with a mutilated Coupon appertaining thereto is
surrendered to the Trustee or paying agent outside the United States, or (b) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security or Coupon, and there is delivered to the Company
and the Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the absence of written notice to the Company, any such paying agent or the Trustee that such Security or Coupon has been acquired by a
bona fide purchaser, the Company shall execute and upon its written request the Trustee or paying agent outside the United States shall authenticate and deliver, in exchange for any such mutilated Security or Coupon or in lieu of any such
destroyed, lost or stolen Security or Coupon, or in exchange for the Security to which a mutilated, destroyed, lost or stolen Coupon appertains (with all appurtenant Coupons not mutilated, destroyed, lost or stolen), a new Security of the same
series and of like tenor and Principal Amount, bearing a number not contemporaneously outstanding, with Coupons corresponding to the Coupons, if any, appertaining to such destroyed, lost or stolen Security or Coupon, or to the Security to which such
destroyed, lost or stolen Coupon appertains. 
 In case any such mutilated, destroyed, lost or stolen Security or Coupon has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security or Coupon; provided, however, that the Principal of and any interest on Bearer Securities shall, except as otherwise
provided in Section 4.05, be payable only at an office or agency located outside the United States and, unless otherwise specified as contemplated by Section 2.03(a), any interest on Bearer Securities shall be payable only upon presentation and
surrender of the Coupons appertaining thereto. 
  

 20 

 Upon the issuance of any new Securities under this Section, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee or Paying Agent) connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Security, or in exchange for a
Security to which a mutilated, destroyed, lost or stolen Coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security and its Coupons, if any, or the
destroyed, lost or stolen Coupon shall be at any time enforceable by anyone, and any such new Security and Coupons, if any, shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Securities of that
issue and their Coupons, if any, duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons. 
 Section 2.10 Outstanding Securities; Determinations of Holders’ Action. Securities of any series “Outstanding” at any time are, as of the date of determination, all the Securities of such series theretofore
authenticated by the Trustee for such series except for those cancelled by it, those delivered to it for cancellation and those described in this Section 2.10 as not outstanding. A Security does not cease to be “Outstanding” because
the Company or an Affiliate thereof holds the Security; provided, however, that solely for purposes of determining whether the Holders of the requisite Principal Amount of Outstanding Securities have given or concurred in any request, demand,
authorization, direction, notice, consent or waiver hereunder, Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be outstanding,
except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which the Trustee knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. Subject to the foregoing, only Securities outstanding at the time of such determination shall be considered in any such determination
(including, without limitation, determinations pursuant to ARTICLE VI or ARTICLE IX). In addition, in determining whether the Holders of the requisite Principal Amount of Outstanding Securities have given or concurred in any request, demand,
authorization, direction, notice, consent or waiver hereunder, (i) the Principal Amount of a Discount Security that shall be deemed to be Outstanding shall be the amount of the Principal thereof that would be due and payable as of the date of
such determination upon acceleration of the Maturity thereof pursuant to Section 6.02, (ii) the Principal Amount of a Security denominated in a foreign currency or currencies shall be the Dollar equivalent, as determined on the date of original
issuance of such Security, of the Principal Amount (or, in the case of a Discount Security, the Dollar equivalent on the date of original issuance of such Security of the amount determined as provided in (i) above) of such Security. 

 

 21 

 If a Security has been paid pursuant to Section 2.09 or in exchange for or in lieu of which another
Security has been authenticated and delivered pursuant to this Indenture, it ceases to be Outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
 If the Trustee (other than the Company) holds, in accordance with this Indenture, on a Redemption Date or on Stated Maturity, money sufficient to pay
Securities and any Coupons thereto appertaining payable on that date, then on and after that date such Securities shall cease to be Outstanding and interest, if any, on such Securities shall cease to accrue; provided, that if such Securities
are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made. 
 Section 2.11 Temporary Securities. Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities
which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form or, if authorized, in
bearer form with one or more Coupons or without Coupons, and with such appropriate insertions, omissions, substitutions and other variations as the Officers executing such Securities may determine, as conclusively evidenced by their execution of
such Securities. Such temporary Securities may be in global form. 
 Except in the case of Securities represented by a temporary global
Security, if temporary Securities for some or all of the Securities of any series are issued, the Company will cause definitive Securities representing such Securities to be prepared without unreasonable delay. Subject to Section 2.02, after the
preparation of such definitive Securities, the temporary Securities shall be exchangeable for such definitive Securities of like tenor upon surrender of the temporary Securities at the office or agency of the Company designated for such purpose
pursuant to Section 4.05 in a Place of Payment for such series for the purpose of exchanges of Securities of such series, without charge to the Holder, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other
governmental charges that may be imposed in connection with a transfer or exchange of the Securities from the Securityholder requesting such transfer or exchange. Upon surrender for cancellation of any one or more temporary Securities of any series
(accompanied by any unmatured Coupons and all matured Coupons in default appertaining thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like Principal Amount of definitive Securities of the
same series and of like tenor of authorized denominations; provided, however, that no definitive Bearer Security or Permanent Global Bearer Security shall be delivered in exchange for a temporary Registered Security. Until so exchanged the
temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
 Unless
otherwise specified as contemplated by Section 2.03(a), if Bearer Securities of any series are represented by a Security in temporary global form, any such temporary global Security shall be delivered to the Depositary for the benefit of Euroclear
and Clearstream, for credit to the respective accounts of the beneficial owners of such Securities (or to such other accounts as they may direct). 
  

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 Without unnecessary delay but in any event not later than the Exchange Date, the Company shall deliver to
the Trustee or paying agent outside the United States permanent Securities of the same series which may be in definitive or global form at the sole discretion of the Company, in aggregate Principal Amount equal to the Principal Amount of such
temporary global Security, executed by the Company. On or after the Exchange Date, such temporary global Security shall be surrendered by the Depositary to the Trustee or paying agent outside the United States, as the Company’s agent for such
purpose, to be exchanged, in whole or from time to time in part, for permanent Securities of the same series which may be in definitive or global form at the sole discretion of the Company and of like tenor without charge and the Trustee shall
authenticate and deliver, in exchange for each portion of such temporary global Security, an equal aggregate Principal Amount of definitive Securities or interests in the Permanent Global Bearer Security of the same series of authorized
denominations and of like tenor as the portion of such temporary global Security to be exchanged. The permanent Securities to be delivered in exchange for any such temporary global Security shall be in definitive bearer form or registered form, or
shall be represented by a Permanent Global Bearer Security, or any combination thereof, as specified as contemplated by Section 2.03(a), and, if any combination thereof is so specified, as requested by the beneficial owner thereof provided,
that no beneficial owner of a registered Temporary Global Bearer Security who is not a United States Alien or who is located in the United States shall be entitled to receive Bearer Securities. 
 Unless otherwise specified in any such Temporary Global Bearer Security, the interest of a beneficial owner of Securities of a series represented by a
Temporary Global Bearer Security shall be exchanged for permanent Securities of the same series, which may be in definitive or global form at the sole discretion of the Company and of like tenor following the Exchange Date when the account holder
instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and delivers to Euroclear or Clearstream, as the case may be, any certificate specified as contemplated by Section 2.03(a). Unless otherwise specified in
such Temporary Global Bearer Security, any such exchange shall be made free of charge to the beneficial owners of such Temporary Global Bearer Security, except that a person receiving permanent Securities must bear the cost of insurance, postage,
transportation and the like in the event that such person does not take delivery of such permanent Securities in person at the offices of Euroclear or Clearstream. 
 Until exchanged in full as here-in-above provided, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as permanent Securities of the same series and of
like tenor authenticated and delivered hereunder, except that, unless otherwise specified as contemplated by Section 2.03(a), interest payable on a temporary global Security representing a series of Bearer Securities on an Interest Payment Date for
Securities of such series occurring prior to the applicable Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment Date, upon delivery by Euroclear and Clearstream to a paying agent outside the United States of any
certificate specified as contemplated by Section 2.03(a), for credit without further interest on or after such Interest Payment Date to the respective accounts of the persons who are the beneficial owners of such Temporary Global Bearer Security on
such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as the case may be, any certificate specified as contemplated by Section 2.03(a). 
  

 23 

 Section 2.12 Cancellation. All Securities or Coupons surrendered for payment, redemption,
registration of transfer or exchange, or for credit against any sinking fund payment, shall, if surrendered to any person other than the Trustee, be delivered to the Trustee and all Registered Securities and matured Coupons so delivered shall be
promptly cancelled by it. All Bearer Securities and unmatured Coupons so delivered shall be held by the Trustee and, upon instruction by a Company Order, shall be cancelled or held for reissuance. Bearer Securities and unmatured Coupons held for
reissuance may be reissued only in replacement of mutilated, lost, stolen or destroyed Bearer Securities of the same series and like tenor or the related Coupons pursuant to Section 2.09. All Bearer Securities and unmatured Coupons held by the
Trustee pending such cancellation or reissuance shall be deemed to be delivered for cancellation for all purposes of this Indenture and the Securities. The Company may at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever (including Securities received by the Company in exchange or as payment for other Securities of the Company) and may deliver to the Trustee (or to any
other person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. The Company may not
reissue, or issue new Securities to replace, Securities it has paid or delivered to the Trustee for cancellation. 
 No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted in the form of Securities for any particular series or as permitted by this Indenture. All cancelled Securities and
Coupons held by the Trustee shall be destroyed by the Trustee in accordance with its customary procedures, and a certificate of their destruction shall be delivered to the Company unless the Company directs, by Company Order, that the Trustee
deliver such Securities to the Company. 
 Section 2.13 Payment of Interest; Interest Rights Preserved. Unless otherwise provided as
contemplated by Section 2.03(a) with respect to any series of Securities, interest on any Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the person in whose name that
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such Interest Payment Date. In case a Bearer Security of any series is surrendered in exchange for a Registered Security of such
series after the close of business (at an office or agency in a Place of Payment for such series) on any Regular Record Date and before the opening of business (at such office or agency) on the next succeeding Interest Payment Date, such Bearer
Security shall be surrendered without the Coupon relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but will be
payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture. 
  

 24 

 Any interest on any Registered Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder at the close of business on the relevant Regular Record Date by virtue of having been such
Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted Interest to the persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security and the
date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably
satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the persons entitled to such Defaulted Interest as in this clause (1) provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by
the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the persons in whose names the Securities (or their respective Predecessor Securities) are registered at
the close of business on such Special Record Date and shall not be payable pursuant to the following clause (2). 
 (2) The
Company may make payment of any Defaulted Interest on the Registered Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Registered Securities may be listed, and upon such notice as
may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause (2), such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and Section 2.08, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other Security shall carry the rights to accrued and unpaid interest, and to accrue interest, which were carried by such other Security. 
 Section 2.14 Persons Deemed Owners. Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the person in
whose name such Registered Security is registered as the owner of such Registered Security for the purpose of receiving payment of Principal of and (except as otherwise specified as contemplated by Section 2.03(a) and subject to Section 2.08 and
Section 2.13) interest on such Registered Security and for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by
notice to the contrary. 
  

 25 

 Title to any Bearer Security and any Coupons appertaining thereto shall pass by delivery. The Company,
the Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security and the bearer of any Coupon as the absolute owner of such Bearer Security or Coupon for the purpose of receiving payment thereof or on account
thereof and for all other purposes whatsoever, whether or not such Bearer Security or Coupon be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 
 None of the Company, the Trustee, any Paying Agent or the Registrar will have any responsibility or liability for any aspect of the records relating to
or payments made on account of beneficial ownership interests of a Security in global form or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 Section 2.15 Computation of Interest. Except as otherwise specified as contemplated by Section 2.03(a) for Securities of any series,
(i) interest on any Securities which bear interest at a fixed rate shall be computed on the basis of a 360-day year comprised of twelve 30-day months and (ii) interest on any Securities which bear interest at a variable rate shall be
computed on the basis of the actual number of days in an interest period divided by 365 or 366 days, as applicable. 
 ARTICLE III 
 REDEMPTION 
 Section 3.01 Right to Redeem; Notices to
Trustee. Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 2.03(a) for Securities of any series) in accordance
with this Article. In the case of any redemption at the election of the Company of less than all the Securities of any series, the Company shall, within the time period specified below, notify the Trustee in writing of the Redemption Date, the
Principal Amount of and of any other information necessary to identify the Securities of such series to be redeemed and the Redemption Price. 
 Except as otherwise specified as contemplated by Section 2.03(a) for Securities of any series, the Company shall give the notice to the Trustee provided for in this Section 3.01 at least 60 days before the Redemption Date (unless a shorter
notice shall be reasonably satisfactory to the Trustee). 
 Section 3.02 Selection of Securities to be Redeemed. Unless otherwise
specified as contemplated by Section 2.03(a) with respect to any series of Securities, if less than all the Securities of any series with the same interest rate and Stated Maturity are to be redeemed, the Trustee shall select the particular
Securities to be redeemed by such method as the Trustee considers fair and appropriate, which method may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral
multiple thereof) of the Principal Amount of Registered Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. The Trustee shall make the selection not more than 60 days before the
Redemption Date from Outstanding Securities of such series not previously called for redemption. Provisions of this 

  

 26 

 
Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company
promptly in writing of the Securities to be redeemed and, in the case of any portions of Securities to be redeemed, the principal amount thereof to be redeemed. 
 Section 3.03 Notice of Redemption. Unless otherwise specified as contemplated by Section 2.03(a) with respect to any series of Securities, at least 30 days but not more than 60 days before a Redemption Date, the
Company shall mail a notice of redemption by first-class mail, postage prepaid, to each Holder of Securities to be redeemed. Except as otherwise specified as contemplated by Section 2.03(a), the notice shall identify the Securities (including
CUSIP/ISIN numbers) to be redeemed and shall state: 
 (1) the Redemption Date; 
 (2) the Redemption Price; 
 (3) if fewer than all the Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the Principal Amounts) of the particular Securities to be redeemed;

 (4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security (or portion
thereof) to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; 
 (5) the
place or places where such Securities, together in the case of Bearer Securities with all Coupons appertaining thereto, if any, maturing on or after the Redemption Date, are to be surrendered for payment of the Redemption Price; and 
 (6) that the redemption is for a sinking fund, if such is the case. 
 A notice of redemption published as contemplated by Section 12.02 need not identify particular Registered Securities to be redeemed. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense; provided,
however, that, in all cases, the text of such Company notice shall be prepared by the Company and the Company shall give the Trustee at least five (5) days’ advance notice of such request. 
 Section 3.04 Effect of Notice of Redemption. Once notice of redemption is given, Securities called for redemption become due and payable on the
Redemption Date and at the Redemption Price stated in the notice, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest and the
Coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for redemption in accordance with said notice, together with all Coupons, if
any, appertaining thereto maturing on or after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to, but excluding, the Redemption Date; provided, however, that
installments of interest on Bearer Securities whose 

  

 27 

 
Stated Maturity is prior to the Redemption Date shall be payable only at an office or agency located outside the United States (except as otherwise provided
in Section 4.05) and, unless otherwise specified as contemplated by Section 2.03(a), only upon presentation and surrender of Coupons for such interest; and provided, further, that, unless otherwise specified as contemplated by Section
2.03(a), installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of
business on the relevant Regular Record Dates according to their terms and the provisions of Sections 2.08 and 2.13. 
 If any Bearer
Security surrendered for redemption shall not be accompanied by all appurtenant Coupons maturing on or after the Redemption Date, such Security may be paid after deducting from the Redemption Price an amount equal to the face amount of all such
missing Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and a paying agent located outside the United States if there be furnished to the Company, the Trustee and such paying agent such security or indemnity
as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing Coupon in respect of which a deduction shall have been made from the Redemption
Price, such Holder shall be entitled to receive the amount so deducted; provided, however, that interest represented by Coupons shall be payable only at an office or agency located outside the United States (except as otherwise provided in
Section 4.05) and, unless otherwise specified as contemplated by Section 2.03(a), only upon presentation and surrender of those Coupons. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the Principal shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 Section 3.05 Deposit of Redemption Price. By or before 10:00 a.m. New York City time on the Redemption Date, the Company shall deposit with the
Paying Agent (or if the Company or a Subsidiary or an Affiliate of either of them is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) accrued interest on, all Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which prior thereto have been delivered by the Company to the Trustee for cancellation. If such money
is then held in trust and is not required for such purpose, it shall be discharged from such trust. 
 Section 3.06 Securities Redeemed
in Part. Any Registered Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory
to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and upon such surrender, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security a new
Registered Security or Securities of the same series and of like tenor, in an authorized denomination as requested by such Holder, equal in aggregate Principal Amount to and in exchange for the unredeemed portion of the Principal of the Security
surrendered. 
  

 28 

 ARTICLE IV 
 COVENANTS

 Notwithstanding anything in this ARTICLE IV to the contrary, this ARTICLE IV shall cease to apply at any time when no Securities are
Outstanding. 
 Section 4.01 Payment of Securities. The Company shall promptly make all payments in respect of each series of Securities
on the dates and in the manner provided in the Securities and any Coupons appertaining thereto and, to the extent not otherwise so provided, pursuant to this Indenture. An installment of Principal of or interest on the Securities shall be considered
paid on the date it is due if the Trustee or a Paying Agent holds (or, if the Company of an Affiliate of the Company is acting as its own Paying Agent, the Company of such Affiliate segregates and holds in trust) on that date funds (in the currency
or currencies of payment with respect to such Securities) designated for and sufficient to pay such installment. Unless otherwise specified as contemplated by Section 2.03(a) with respect to any series of Securities, any interest due on Bearer
Securities on or before Maturity shall be payable only upon presentation and surrender of the several Coupons for such interest installments as are evidenced thereby as they severally mature. At the Company’s option, payments of Principal or
interest may be made by check or by transfer to an account maintained by the payee, subject, in the case of Bearer Securities, to the provisions of Section 4.05. 
 Section 4.02 SEC Reports. The Company shall deliver to the Trustee, within 15 days after it files the same with the SEC, copies of such reports, information and documents (or copies of such portions of any of the
foregoing as the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act; provided, however, that the Company shall not be required to deliver
to the Trustee any material for which the Company has sought and received confidential treatment by the SEC and the Company shall not be required to deliver to the Trustee any letters delivered to the SEC in response to any comments the SEC may have
on any such reports, information or documents; provided further, each such report, information or document will be deemed to be so delivered to the Trustee if the Company files such report, information or document with the SEC through the
SEC’s EDGAR database. The Company also shall comply with the other provisions of TIA Section 314(a). 
 Delivery of such reports,
information and documents to the Trustee is for informational purposes only, and the Trustee’s receipt of the same shall not constitute constructive notice of any information contained therein or determinable from information contained therein,
including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 Section 4.03 Compliance Certificate. The Company shall deliver to the Trustee within 120 days after the end of each fiscal year (beginning with the fiscal year ending on December 31, 2008) an Officers’
Certificate stating whether or not the signers have actual knowledge of any Default that occurred during such fiscal year. If they do, such Officers’ Certificate shall describe, to the signers’ actual knowledge, the Default and its status.

  

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 The Company shall deliver to the Trustee, as soon as possible and in any event within five (5) days
after the Company becomes aware of the occurrence of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officers’ Certificate setting forth the details of such Event of
Default or default and the action which the Company proposes to take with respect thereto. 
 Section 4.04 Further Instruments and Acts.
Upon request of the Trustee, the Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 
 Section 4.05 Maintenance of Office or Agency. If Securities of a series are issuable only as Registered Securities, the Company will maintain in
each Place of Payment for such series an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and
demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company will maintain (A) in the Borough of Manhattan, The City of New
York, an office or agency where any Registered Securities of that series may be presented or surrendered for payment, where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may
be surrendered for exchange, purchase or redemption and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served and where Bearer Securities of that series and related Coupons may
be presented or surrendered for payment in the circumstances described in the following paragraph, (B) subject to any laws or regulations applicable thereto, in a Place of Payment for that series which is located outside the United States, an
office or agency where Securities of that series and related Coupons may be presented and surrendered for payment (including payment of any additional amounts payable on Securities of that series pursuant to Section 4.06), and (C) subject to
any laws or regulations applicable thereto, in a Place of Payment for that series located outside the United States an office or agency where any Registered Securities of that series may be surrendered for registration of transfer, where Securities
of that series may be surrendered for exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The office of the Trustee at One Canada Square, London E14 5AL,
Attention: Corporate Trust Administration, shall be such office or agency for all of the aforesaid purposes unless the Company shall maintain some other office or agency for such purposes and shall give prompt written notice to the Trustee of the
location, and any change in the location, of such other office or agency. In the event that Registered Securities are issued or that the Depositary shall so require, the Company will appoint a Paying Agent and Registrar in The City of New York. If
at any time the Company shall fail to maintain any such required office or agency in respect of any series of Securities or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders of Securities of that series
may be made and notices and demands may be made or served at the address of the Trustee set forth in Section 12.02, except that Bearer Securities of that series and the related Coupons may be presented and surrendered for payment (including payment
of any additional amounts payable on Bearer Securities of that series pursuant to Section 4.06) at the place specified for that purpose as contemplated by Section 2.03(a) and the Company hereby appoints the same as its agent to receive such
respective presentations, surrenders, notices and demands. 
  

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 No payment of Principal or interest on Bearer Securities shall be made at any office or agency of the
Company in the United States, by check mailed to any address in the United States, by transfer to an account located in the United States or upon presentation or surrender in the United States of a Bearer Security or Coupon for payment, even if the
payment would be credited to an account located outside the United States; provided, however, that, if the Securities of a series are denominated and payable in Dollars, payment of Principal of and any interest on any such Bearer Security
(including any additional amounts payable on Securities of such series pursuant to Section 4.06) shall be made at the office of the Company’s Paying Agent in the Borough of Manhattan, The City of New York, if (but only if) payment in Dollars of
the full amount of such Principal, interest or additional amounts, as the case may be, at all offices or agencies outside the United States maintained for such purpose by the Company in accordance with this Indenture is illegal or effectively
precluded by exchange controls or other similar restrictions. 
 The Company may also from time to time designate one or more other offices
or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such
designation or rescission and of any change in the location of any such other office or agency. 
 Section 4.06 Additional Amounts. If
specified as contemplated by Section 2.03(a), the Securities of a series may provide for the payment of additional amounts, and in such case, the Company will pay to the Holder of any Security of such series or any Coupon appertaining thereto
additional amounts as provided therein. Wherever in this Indenture there is mentioned, in any context, the payment of the Principal of or any interest on, or in respect of, any Security of any series or payment of any related Coupon, such mention
shall be deemed to include mention of the payment of additional amounts provided for in this Section to the extent that, in such context, additional amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section
and express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed as excluding additional amounts in those provisions hereof where such express mention is not made. 
 If the Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first Interest Payment Date with respect to
that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which payment of Principal is made), and at least 10 days prior to each date of payment of Principal and any interest if there
has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company will furnish the Trustee and the Company’s Paying Agent or Paying Agents, if other than the Trustee, with an Officers’
Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of Principal of and any interest on the Securities of that series shall be made to Holders of Securities of that series or any related Coupons who are
United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be required, then such Officers’ Certificate shall specify
by country the 

  

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amount, if any, required to be withheld on such payments to such Holders of Securities or Coupons and the Company will pay to the Trustee or such Paying
Agent the additional amounts required by the Securities of such series and this Section. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred
without negligence or willful misconduct on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section. 
 ARTICLE V 
 SUCCESSOR CORPORATION 
 Notwithstanding anything in this ARTICLE V to the contrary, this ARTICLE V shall cease to apply at any time when no Securities are Outstanding.

 Section 5.01 When Company May Merge or Transfer Assets. The Company shall not consolidate with or merge with or into any other person
or convey, transfer or lease its properties and assets substantially as an entirety to any person, unless: 
 (a) either (1) the Company
shall be the continuing corporation or person or (2) the person (if other than the Company) formed by such consolidation or into which the Company is merged or the person which acquires by conveyance, transfer or lease the properties and assets
of the Company substantially as an entirety (i) shall be a corporation, partnership or trust or limited liability company organized and validly existing under the laws of the United States or any state thereof or the District of Columbia and
(ii) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Securities and this Indenture; 

(b) immediately after giving effect to such transaction, no Default shall have occurred and be continuing; and 
 (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation,
merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, comply with this Article and that all conditions precedent herein provided for relating to such
transaction have been satisfied. 
 The successor person formed by such consolidation or into which the Company is merged or the successor
person to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture with the same effect as if such successor had been named as the Company
herein; and thereafter, except in the case of a lease of its properties and assets substantially as an entirety, the Company shall be discharged from all obligations and covenants under this Indenture, the Securities and Coupons. 
  

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 ARTICLE VI 
 DEFAULTS AND
REMEDIES 
 Section 6.01 Events of Default Unless otherwise specified as contemplated by Section 2.03(a) with respect to any series of
securities, an “Event of Default” occurs, with respect to each series of the Securities individually, if: 
 (1) the Company fails to pay the principal of any Security of such series, when and as the same shall become payable; 
 (2) the Company fails to pay any installment of interest on any Security of such series when the same becomes due and payable and continuance of such default for a period of 30 days; 
 (3) the Company fails to comply with any of its agreements in the Securities or this Indenture (including any indenture supplemental
hereto pursuant to which the Securities of such series were issued) (other than those referred to in clause (1) above and other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically
dealt with or which has been expressly included in this Indenture solely for the benefit of a series of Securities other than such series) and such failure continues for 60 days after receipt by the Company of a Notice of Default; 
 (4) there shall have been the entry by a court of competent jurisdiction of (a) a decree or order for relief in respect of the
Company in an involuntary case or proceeding under any applicable Bankruptcy Law or (b) a decree or order adjudging the Company bankrupt or insolvent, or seeking reorganization, arrangement, adjustment or composition of or in respect of the
Company under any applicable federal or state law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property, or ordering the wind up or
liquidation of its affairs, and any such decree or order for relief shall continue to be in effect, or any such other decree or order shall be unstayed and in effect, for a period of 60 consecutive days; 
 (5) (a) the Company commences a voluntary case or proceeding under any applicable Bankruptcy Law or any other case or proceeding to be
adjudicated bankrupt or insolvent, (b) the Company consents to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Bankruptcy Law or to the commencement of any bankruptcy
or insolvency case or proceeding against it, (c) the Company files a petition or answer or consent seeking reorganization or substantially comparable relief under any applicable federal state law, (d) the Company (x) consents to the
filing of such petition or the appointment of, or taking possession by, a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any substantial part of its property, (y) makes an assignment
for the benefit of creditors or (z) admits in writing its inability to pay its debts generally as they become due or (e) the Company takes any corporate action primarily in furtherance of any such actions in this clause (5); or 

 

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 (6) any other Event of Default provided with respect to Securities of that series;

 provided, however, that an Event of Default with respect to one series of Securities shall not, solely by virtue thereof, be
deemed to constitute an Event of Default with respect to any other series of Securities. 
 “Bankruptcy Law” means Title 11,
United States Code, or any similar Federal or state law for the relief of debtors. “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 A Default under clause (3) above is not an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in aggregate Principal
Amount of the Outstanding Securities of such series notify the Company and the Trustee, of the Default and the Company does not cure such Default within the time specified in clause (3) above after receipt of such notice. Any such notice must
specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” 
 Section 6.02
Acceleration. If an Event of Default with respect to Securities of any series at the time Outstanding (other than an Event of Default specified in Section 6.01(4) or (5)) occurs and is continuing, the Trustee by notice to the Company, or the Holders
of at least 25% in aggregate Principal Amount of the Outstanding Securities of that series by notice to the Company and the Trustee, may declare the Principal Amount (or, if any of the Securities of that series are Discount Securities, such portion
of the Principal Amount of such Securities of that series as may be specified in the terms thereof) of all the Securities of that series to be immediately due and payable. Upon such a declaration, such Principal (or portion thereof) shall be due and
payable immediately. If an Event of Default specified in Section 6.01(4) or (5) occurs and is continuing with respect to a series of Securities, the Principal (or portion thereof) of all the Outstanding Securities of that series shall become and be
immediately due and payable without any declaration or other act on the part of the Trustee or any Securityholders. The Holders of a majority in aggregate Principal Amount of the Outstanding Securities of any series, by notice to the Trustee (and
without notice to any other Securityholder) may rescind an acceleration with respect to that series and its consequences if the rescission would not conflict with any judgment or decree and all existing Events of Default with respect to Securities
of such series have been cured or waived except nonpayment of the Principal (or portion thereof) of Securities of such series that has become due solely as a result of such acceleration and if all amounts due to the Trustee under Section 7.07 have
been paid. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 
 Section 6.03 Other
Remedies. If an Event of Default with respect to a series of Outstanding Securities occurs and is continuing, the Trustee may pursue any available remedy to (a) collect the payment of the whole amount then due and payable on such Securities for
Principal and interest, with interest upon the overdue Principal and, to the extent that payment of such interest shall be legally enforceable, upon overdue installments of interest from the date such interest was due, at the rate or rates
prescribed therefor in such Securities and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including amounts due the Trustee under Section 7.07 or (b) enforce the performance of
any provision of the Securities or this Indenture. 
  

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 The Trustee may maintain a proceeding even if the Trustee does not possess any of the Securities or
Coupons or does not produce any of the Securities or Coupons in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of, or acquiescence in, the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
 Section 6.04 Waiver of Past Defaults. The Holders of a majority in aggregate Principal Amount of the Outstanding Securities of any series, by notice to the Trustee (and without notice to any other
Securityholder), may on behalf of the Holders of all the Securities of such series and any related Coupons waive an existing Default with respect to such series and its consequences except (1) an Event of Default described in Section 6.01(1)
with respect to such series or (2) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of the Holder of each Outstanding Security of such series affected. When a Default is waived, it is deemed
cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 
 Section 6.05 Control by
Majority. The Holders of a majority in aggregate Principal Amount of the Outstanding Securities of any series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or
power conferred on the Trustee with respect to the Securities of such series. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or that the Trustee determines in good faith is unduly prejudicial to the
rights of other Securityholders or would involve the Trustee in personal liability. 
 Section 6.06 Limitation on Suits. A Holder of any
Security of any series or any related Coupons may not pursue any remedy with respect to this Indenture or the Securities unless: 
 (1) the Holder gives to the Trustee written notice stating that an Event of Default with respect to the Securities of that series is continuing; 
 (2) the Holders of at least 25% in aggregate Principal Amount of the Outstanding Securities of that series make a written request to the Trustee to pursue the remedy; 
 (3) such Holder or Holders offer to the Trustee security or indemnity reasonably satisfactory to the Trustee against any loss, liability
or expense; 
 (4) the Trustee does not comply with the request within 60 days after receipt of the notice, the request and
the offer of security or indemnity; and 
 (5) the Holders of a majority in aggregate Principal Amount of the Outstanding
Securities of that series do not give the Trustee a direction inconsistent with such request during such 60-day period. 
  

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 A Securityholder may not use this Indenture to prejudice the rights of any other Securityholder or to
obtain a preference or priority over any other Securityholder. 
 Section 6.07 Rights of Holders to Receive Payment. Notwithstanding any
other provision of this Indenture, the right, which is absolute and unconditional, of any Holder of any Security or Coupon to receive payment of the Principal of and (subject to Section 2.13) interest on such Security or payment of such Coupon on
the Stated Maturity or Maturities expressed in such Security or Coupon (or, in the case of redemption, on the Redemption Date) held by such Holder, on or after the respective due dates expressed in the Securities or any Redemption Date, or to bring
suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected adversely without the consent of each such Holder. 
 Section 6.08 Collection Suit by Trustee. If an Event of Default described in Section 6.01(1) with respect to Securities of any series occurs and is continuing, the Trustee may recover judgment in its own name and
as trustee of an express trust against the Company for the whole amount owing with respect to such series of Securities and the amounts provided for in Section 7.07. 
 Section 6.09 Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding
relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the Principal of the Securities shall then be due and payable as
therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue Principal or interest) shall be entitled and empowered, by intervention in such proceeding
or otherwise, 
 (a) to file and prove a claim for the whole amount of Principal and interest owing and unpaid in respect of the Securities
and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel
and any other amount due the Trustee under Section 7.07) and of the Holders of Securities and Coupons allowed in such judicial proceeding, and 
 (b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 
 and any Custodian,
receiver, assignee, trustee, liquidator, sequestrator or similar official in any such judicial proceeding is hereby authorized by each Holder of Securities and Coupons to make such payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders of Securities and Coupons, to pay the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07. 
 Nothing herein contained shall be deemed to authorize the Trustee or the holders of the
Securities to authorize or consent to or accept or adopt on behalf of any Holder of a Security or Coupon any plan of reorganization, arrangement, adjustment or composition 

  

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affecting the Securities or Coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a
Security or Coupon in any such proceeding. 
 Section 6.10 Priorities. If the Trustee collects any money pursuant to this ARTICLE VI, it
shall pay out the money in the following order and, in case of the distribution of such money on account of Principal or interest, upon presentation of the Securities or Coupons, or both, as the case may be, and the notation thereon of the payment
if only partially paid and upon surrender thereof if fully paid: 
 FIRST: to the Trustee for amounts due under Section 7.07; 
 SECOND: to Securityholders for amounts due and unpaid for the Principal and interest on the Securities and interest evidenced by Coupons in respect of
which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities and Coupons for Principal and interest, respectively; and 

THIRD: the balance, if any, to the Company. 
 The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section 6.10. At least 15 days before such record date, the Company shall mail to each Securityholder and the Trustee a notice that
states the record date, the payment date and amount to be paid. 
 Section 6.11 Undertaking for Costs. In any suit for the enforcement
of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant (other than the Trustee) in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of
the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or to any suit instituted by any Holder of any Security or Coupon for the enforcement of the
payment of the Principal of or interest on any Security or the payment of any Coupon on or after the Stated Maturity or Maturities expressed in such Security or Coupon (or, in the case of redemption, on or after the Redemption Date). 
 Section 6.12 Waiver of Stay, Extension or Usury Laws. The Company covenants (to the extent that it may lawfully do so) that it will not at any time
insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury or other law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein
granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
  

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 ARTICLE VII 
 TRUSTEE

 Section 7.01 Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent man would exercise or use
under the circumstances in the conduct of his own affairs. 
 (b) Except during the continuance of an Event of Default with respect to
Securities of any series: 
 (1) the Trustee need perform only those duties that are specifically set forth in this Indenture
and no others; and 
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee shall examine the certificates and opinions to
determine whether or not they conform to the requirements of this Indenture but need not confirm or investigate the mathematical calculations or other facts stated therein. 
 (c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except
that: 
 (1) this paragraph (c) does not limit the effect of paragraph (b) of this Section 7.01; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee
was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee shall not be liable with respect to any action it
takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 or exercising any trust or power conferred upon the Trustee under this Indenture. 
 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), (c) and (e) of this Section 7.01.

 (e) The Trustee may refuse to perform any duty or exercise any right or power or extend or risk its own funds or otherwise incur any
financial liability unless it receives indemnity reasonably satisfactory to it against any loss, liability or expense. 
 (f) Money held by
the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall not be liable for any interest on any money received by it except as the Trustee may otherwise agree in writing with the
Company. 
  

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 Section 7.02 Rights of Trustee. 
 (a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee
need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an
Officers’ Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. 
 (c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or
powers. 
 (e) The Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution,
Officers’ Certificate, Opinion of Counsel (or both), Company Order or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, Coupon, security or other paper believed to be genuine
and to have been signed or presented by the proper party or parties. 
 (f) Any request, direction, order or demand of the Company mentioned
herein shall be sufficiently evidenced by an Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof
certified by the secretary or an assistant secretary of the Company. 
 (g) The Trustee may consult with counsel and any advice or Opinion of
Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in reliance thereon in accordance with such advice or Opinion of Counsel. 

(h) The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the request, order or direction
of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be
incurred therein or thereby. 
 (i) The Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note, Coupon, security or other paper or document unless requested in writing to do so by the Holders of not less
than a majority in the aggregate principal amount of the Securities of a series then Outstanding; provided, that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the
making of any such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such expense or liabilities
as a condition to proceeding; the reasonable expense of every such investigation shall be paid by the Company or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Company upon demand. 
  

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 (j) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys not regularly in its employ, and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder. 
 (k) In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but
not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 (l) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact
such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture. 
 (m) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of
its capacities hereunder, and each agent or custodian of, and other Person duly employed to act by, the Trustee hereunder. 
 (n) The
permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty to do so. 
 (o) The Trustee may consult with counsel and the advice of such counsel or any opinion of counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon. 
 (p) The Trustee will not be liable to any person if prevented or delayed in performing any of its
obligations or discretionary functions under this Indenture by reason of any present or future law applicable to it, by any governmental or regulatory authority. 
 (q) The Trustee shall be entitled to assume without inquiry, that the Company has performed in accordance with all of the provisions of this Indenture, unless notified in writing to the contrary. 
 Section 7.03 Individual Rights of Trustee, Etc. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities or
Coupons and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar or co-registrar or any other agent of the Company may do the same with like rights. However, the
Trustee must comply with Sections 7.10 and 7.11. 
 Section 7.04 Trustee’s Disclaimer. The recitals contained herein and in the
Securities, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity
or adequacy of this Indenture or the Securities 

  

 40 

 
or Coupons. The Trustee shall not be accountable for the Company’s use of the proceeds from the Securities and, shall not be responsible for any
statement in the registration statement for the Securities under the Securities Act of 1933, as amended, or in this Indenture or the Securities or any Coupons (other than its certificate of authentication) or for the determination as to which
beneficial owners are entitled to receive any notices hereunder. 
 Section 7.05 Notice of Defaults. If a Default with respect to the
Securities of any series occurs and is continuing and if it is known to the Trustee, the Trustee shall give to each Holder of Securities of such series notice of such Default in the manner set forth in TIA Section 315(b) within 90 days after it
occurs. Except in the case of a Default described in Section 6.01(1) with respect to any Security of any series or a Default in the payment of any sinking fund installment with respect to any Security of such series, the Trustee may withhold the
notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of the Holders of Securities of such series. 
 Section 7.06 Reports by Trustee to Holders. Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, the Trustee shall mail to each Holder of Securities a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b) and (c). 
 A copy of each such report at the time of its mailing to Holders of Securities shall be filed with the SEC and each stock exchange on which the
Securities of the relevant series may be listed. The Company agrees to notify the Trustee whenever the Securities of a particular series become listed on any stock exchange and of any delisting thereof. 
 Section 7.07 Compensation and Indemnity. The Company agrees: 
 (a) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder, including, but not limited to, additional compensation for all services rendered during and after an Event
of Default or for exceptional duties, and which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust; 
 (b) to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable
compensation and the expenses, advances and disbursements of its agents and counsel), except any such expense, disbursement or advance as shall have been determined to have been caused by its own negligence or willful misconduct; and 
 (c) to indemnify the Trustee against any and all loss, liability or reasonable expense (including reasonable attorneys’ fees and expenses) incurred
by it without willful misconduct, negligence or bad faith on its part arising out of or in connection with the administration of this trust and the performance of its duties hereunder (including the reasonable costs and expenses of defending itself
against any claim, whether asserted by the Company, any Holder or any other Person). The Trustee shall promptly notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not
relieve the Company 

  

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of its obligations hereunder, except to the extent that the Company is prejudiced by the failure to so notify the Company. Upon such notification, the
Company shall defend such claim, and the Trustee shall cooperate in such defense. The Trustee may employ separate counsel to defend any such claim, but the Trustee shall pay the fees and expenses of such counsel, unless the employment of such
counsel shall have been authorized in writing by the Company in connection with the defense of such claim or the Trustee shall have reasonably concluded that there may be defenses available to it which are different from, additional to or in
conflict with those available to the Company, in any of which events the reasonable fees and expenses of such counsel shall be borne by the Company. The Company need not pay for any settlement made without its consent, which consent may not be
unreasonably withheld or delayed. The Company shall not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct, negligence or bad faith. 
 To secure the Company’s payment obligations in this Section 7.07, the Trustee shall have a lien prior to the Securities and any Coupons on all money
or property held or collected by the Trustee, except that held in trust to pay the Principal of or interest, if any, on particular Securities or for the payment of particular Coupons. 
 The Company’s obligations pursuant to this Section 7.07 shall survive the discharge or other termination of this Indenture or the resignation or
removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(4) or (5), the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 
 Section 7.08 Replacement of Trustee. The Trustee may resign by so notifying the Company; provided, however, no such resignation shall be
effective until a successor Trustee has accepted its appointment pursuant to this Section 7.08. The Holders of a majority in aggregate Principal Amount of the Outstanding Securities of any series at the time outstanding may remove the Trustee with
respect to the Securities of such series by so notifying the Trustee and may appoint a successor Trustee. The Company shall remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 
 (2) the Trustee is adjudged bankrupt or insolvent; 
 (3) a receiver or public officer takes charge of the Trustee or its property; or 
 (4) the Trustee otherwise becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of one or more series, the Company shall promptly appoint, by resolution of its Board
of Directors, a successor Trustee with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time
there shall be only one Trustee with respect to the Securities of any series). 
 In the case of the appointment hereunder of a successor
Trustee with respect to all Securities, every such successor Trustee shall deliver a written acceptance of its appointment to 

  

 42 

 
the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall become effective and the successor Trustee shall
have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders of Securities of the particular series with respect to which such successor Trustee has been
appointed. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07. 
 In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the
Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer
and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if
the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for
or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees as co-Trustees of the same trust and that each such Trustee
shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, upon request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor
Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, subject, nevertheless, to its lien, if any, provided for in
Section 7.07. 
 If a successor Trustee with respect to the Securities of any series does not take office within 30 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in aggregate Principal Amount of the Outstanding Securities of such series at the time outstanding may petition, at the Company’s expense, any court
of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 If the Trustee fails
to comply with Section 7.10, any Holder of a Security of such series may petition any court of competent jurisdiction for the removal of such Trustee and the appointment of a successor Trustee. 
 Section 7.09 Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its
corporate trust business or assets to, another corporation, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 
  

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 Section 7.10 Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements
of TIA Section 310(a)(1) and 310(a)(5). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b),
including the optional provision permitted by the second sentence of TIA Section 310(b)(9). In determining whether the Trustee has conflicting interests as defined in TIA Section 310(b)(1), the provisions contained in the proviso to TIA
Section 310(b)(1) shall be deemed incorporated herein. 
 Section 7.11 Preferential Collection of Claims Against Company. The
Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein.

 ARTICLE VIII 
 SATISFACTION AND DISCHARGE 
 Section 8.01 Discharge of Liability on Securities. Except as otherwise specified as contemplated by Section 2.03(a), this Indenture shall upon
Company Request cease to be of further effect as to all Outstanding Securities or all Outstanding Securities of any series, as the case may be (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly
provided for, and any right to receive additional amounts, as provided in Section 4.06), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when: 

(a) either 
 (1) all
Outstanding Securities or all Outstanding Securities of such series, as the case may be, theretofore authenticated and delivered and all Coupons, if any, appertaining thereto (other than (i) Coupons appertaining to Bearer Securities surrendered
for exchange form Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section 2.08, (ii) Securities or Securities of such series, as the case may be, and Coupons, if any,
which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.09, (iii) Coupons, if any, appertaining to Securities or Securities of such series, as the case may be, called for redemption and maturing
after the relevant Redemption Date, whose surrender has been waived as provided in Section 3.04, and (iv) Securities or Securities of such series, as the case may be, and Coupons, if any, for whose payment money has theretofore been deposited
in trust or segregated and held in trust by the Company or an Affiliate of the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 8.02) have been delivered to the Trustee for cancellation; or

  

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 (2) all such Securities and, in the case of (i) or (ii) below, any Coupons
appertaining thereto not theretofore delivered to the Trustee for cancellation, 
 (i) have become due and payable, or 
 (ii) will become due and payable at their Stated Maturity within one year, or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the expense, of the Company, and 
 the Company, in the case of (i), (ii) or (iii) above, has deposited
or caused to be deposited with the Trustee as trust funds in trust for the purpose, an amount sufficient to pay and discharge the entire indebtedness on such Securities and Coupons not theretofore delivered to the Trustee for cancellation, for
principal (and premium, if any) and any interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (c) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein
provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 The Trustee shall join in the execution
of a document prepared by the Company acknowledging satisfaction and discharge of this Indenture on demand of the Company accompanied by such Officers’ Certificate and Opinion of Counsel and at the cost and expense of the Company. 

Notwithstanding the satisfaction and discharge of this Indenture with respect to the Securities of any series, the obligations of the Company to the
Trustee with respect to the Securities of that series under Section 7.07, the obligations of the Company to any Authenticating Agent appointed by the Trustee pursuant to Section 2.04 and, if money shall have been deposited with the Trustee pursuant
to clause (b) of this Section, Section 8.02 shall survive. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities. 
 Section 8.02 Repayment to the
Company. The Trustee and the Paying Agent shall return to the Company on Company Request any money held by them for the payment of any amount with respect to the Securities that remains unclaimed for two years; provided, however, that the
Trustee or such Paying Agent, before being required to make any such return, may at the expense and direction of the Company cause to be published once in an Authorized Newspaper in each Place of Payment of or mail to each such Holder notice that
such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed money then remaining will be returned to the Company. 

  

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After return to the Company, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property
law designates another person. 
 Section 8.03 Option to Effect Defeasance or Covenant Defeasance. Unless otherwise specified as
contemplated by Section 2.03(a) with respect to Securities of a particular series, the Company, may at its option, by Board Resolution, at any time, with respect to any series of Securities, elect to have either Section 8.04 or Section 8.05 be
applied to all of the outstanding Securities of any series (the “Defeased Securities”), upon compliance with the conditions set forth below in this ARTICLE VIII. 
 Section 8.04 Defeasance and Discharge. Upon the Company’s exercise under Section 8.03 of the option applicable to this Section 8.04, the
Company shall be deemed to have been discharged from its obligations with respect to the Defeased Securities on the date the conditions set forth below are satisfied (hereinafter “defeasance”). For this purpose, such defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Defeased Securities (which shall thereafter be deemed to be “outstanding” only for the purposes of Sections 2.04, 2.05,
2.06, 2.09, 2.11, 2.12, 4.01, 4.05, 6.06, 6.07,7.07, 7.08 and 8.02 of this Indenture) and to have satisfied all its other obligations under such series of Securities and this Indenture insofar as such series of Securities are concerned (and the
Trustee, at the expense of the Company, and, upon written request, shall execute proper instruments acknowledging the same). Subject to compliance with this ARTICLE VIII, the Company may exercise its option under this Section 8.04 notwithstanding
the prior exercise of its option under Section 8.05 with respect to a series of Securities. 
 Section 8.05 Covenant Defeasance. Upon
the Company’s exercise under Section 8.03 of the option applicable this Section 8.05, the Company shall be released from its obligations under Section 4.02 and 4.03 and ARTICLE V and such other provisions as may be provided as contemplated by
Section 2.03(a) with respect to Securities of a particular series and with respect to the Defeased Securities on and after the date the conditions set forth below are satisfied (hereinafter “covenant defeasance”), and the Defeased
Securities shall thereafter be deemed to be not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences if any thereof) in connection with such covenants, but shall
continue to be deemed “outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to the Defeased Securities, the Company may omit to comply with and shall have no liability in
respect of any term, condition or limitation set forth in any such Sections or such Article, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section
or Article to any other provisions herein or in any other document, and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01, but, except as specified above, the remainder of this Indenture and such
Defeased Securities shall be unaffected thereby. 
 Section 8.06 Conditions to Defeasance or Covenant Defeasance. The following shall be
the conditions to application of either Section 8.04 or Section 8.05 to a series of outstanding Securities. 
  

 46 

 (a) The Company shall have irrevocably deposited with the Trustee, in trust, (i) sufficient funds in
the currency or currency unit in which the Securities of such series are denominated to pay the Principal of and interest to Stated Maturity (or redemption) on, the Debt Securities of such series, or (ii) such amount of direct obligations of,
or obligations the principal of and interest on which are fully guaranteed by, the government which issued the currency in which the Securities of such series are denominated, and which are not subject to prepayment, redemption or call, as will,
together with the predetermined and certain income to accrue thereon without consideration of any reinvestment thereof, be sufficient to pay when due the Principal of, and interest to Stated Maturity (or redemption) on, the Debt Securities of such
series. 
 (b) The Company shall (i) have delivered to the Trustee an Opinion of Counsel that the Company has met all of the conditions
precedent to such defeasance and that the Holders of the Securities of such series will not recognize income, gain or loss for United States Federal income tax purposes as a result of such defeasance, and will be subject to United States Federal
income tax in the same manner as if no defeasance and discharge or covenant defeasance, as the case may be, had occurred or (ii) in the case of an election under Section 8.04, the Company shall have delivered to the Trustee an Opinion of
Counsel to the effect that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date this Indenture was first executed, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such Opinion of Counsel in the United States shall confirm that, the holders of Outstanding Securities of that particular series will not recognize income, gain or loss for federal
income tax purposes as a result of such defeasance. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 Section 9.01 Supplemental Indentures without Consent of Holders. Without the consent of any Holders
of Securities or Coupons, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another corporation to the Company and the assumption by any such successor of the covenants of the
Company herein and in the Securities; or 
 (2) to add to the covenants, agreements and obligations of the Company for the
benefit of the Holders of all of the Securities or any series thereof, or to surrender any right or power herein conferred upon the Company; or 
 (3) to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to Principal, to change or eliminate any restrictions (including restrictions relating to payment
in the United States) on the payment of Principal of or any premium or interest on Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be issued in exchange for Bearer
Securities of other authorized denominations or to permit the issuance of Securities in uncertificated form; or 
  

 47 

 (4) to establish the form or terms of Securities of any series and any related Coupons as
permitted by Sections 2.01 and 2.03(a), respectively; or 
 (5) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one Trustee, pursuant to the requirements of Section 7.08; or 
 (6) to cure any ambiguity, defect or inconsistency;
or 
 (7) to add to, change or eliminate any of the provisions of this Indenture (which addition, change or elimination may
apply to one or more series of Securities), provided that any such addition, change or elimination shall neither (A) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the
benefit of such provision nor (B) modify the rights of the Holder of any such Security with respect to such provision; or 
 (8) to secure the Securities; or 
 (9) to make any other change that does not adversely affect the rights of any
Securityholder in any material respect. 
 Section 9.02 Supplemental Indentures with Consent of Holders. With the written consent of the
Holders of at least a majority in aggregate Principal Amount of the Outstanding Securities of each series affected by such supplemental indenture, the Company and the Trustee may amend this Indenture or the Securities of any series or may enter into
an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of the Securities of
such series and any related Coupons under this Indenture; provided, however, that no such amendment or supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 
 (1) change the Stated Maturity of the Principal of, or any installment of Principal or interest on, any such Security, or reduce the
Principal Amount thereof or the rate of interest thereon or any premium payable upon redemption thereof or reduce the amount of Principal of any such Discount Security that would be due and payable upon a declaration of acceleration of maturity
thereof pursuant to Section 6.02, or change the Place of Payment where, or change the coin or currency in which, any Principal of, or any installment of interest on, any such Security is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date); 
 (2) reduce the percentage in Principal Amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such amendment or 

  

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supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with any provisions of this Indenture or any defaults
hereunder and their consequences) with respect to the Securities of such series provided for in this Indenture; or 
 (3)
modify any of the provisions of this Section, Section 6.04 or 6.07, except to increase the percentage of Outstanding Securities of such series required for such actions to provide that certain other provisions of this Indenture cannot be modified or
waived without the consent of the Holder of each Outstanding Security affected thereby. 
 A supplemental indenture which changes or
eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with
respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment or supplemental indenture, but it shall be sufficient if such consent approves
the substance thereof. 
 After an amendment or supplemental indenture under this Section 9.02 becomes effective, the Company shall mail to
each Holder of the particular Securities affected thereby a notice briefly describing the amendment. 
 Section 9.03 Compliance with
Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall comply with the TIA as then in effect. 
 Section 9.04 Revocation and Effect of Consents, Waivers and Actions. Until an amendment or waiver with respect to a series of Securities becomes effective, a consent to it or any other action by a Holder of a Security of that series
hereunder is a continuing consent by the Holder and every subsequent Holder of that Security or portion of that Security that evidences the same obligation as the consenting Holder’s Security, even if notation of the consent, waiver or action
is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent, waiver or action as to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the Company or
an agent of the Company certifies to the Trustee that the consent of the requisite aggregate Principal Amount of the Securities of that series has been obtained. After an amendment, waiver or action becomes effective, it shall bind every Holder of
Securities of the relevant series. 
 The Company may, but shall not be obligated to, fix a record date for the purpose of determining the
Holders entitled to consent to any amendment or waiver with respect to a series of Securities. If a record date is fixed, then notwithstanding the first two sentences of the immediately preceding paragraph, those persons who were Holders of
Securities of that series at such record date (or their duly designated proxies), and only those persons, shall be entitled to revoke any consent previously given, whether or not such persons continue to be Holders after such record date. No such
consent shall be valid or effective for more than 90 days after such record date. 
  

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 Section 9.05 Notation On or Exchange of Securities. Securities of any series authenticated and
delivered after the execution of any supplemental indenture with respect to such series pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities of such series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for outstanding Securities of that series. 
 Section 9.06 Trustee to Sign
Supplemental Indentures. The Trustee shall sign any supplemental indenture authorized pursuant to this ARTICLE IX if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may,
but need not, sign it. In signing such amendment, the Trustee shall be provided with, and shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by
this Indenture. 
 Section 9.07 Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article,
this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be
bound thereby, except to the extent otherwise set forth therein. 
 ARTICLE X 
 SINKING FUNDS 
 Section 10.01 Applicability of Article. The provisions of this Article shall be
applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated by Section 2.03(a) for Securities of such series. 
 The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “Mandatory
Sinking Fund Payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “Optional Sinking Fund Payment.” If provided for by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 10.02. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of
the Securities of such series. 
 Section 10.02 Satisfaction of Sinking Fund Payments with Securities. The Company (1) may deliver
Outstanding Securities of a series with the same interest rate and Stated Maturity (other than any previously called for redemption), together, in the case of any Bearer Securities of such series, with the same interest rate and Stated Maturity with
all unmatured Coupons appertaining thereto, and (2) may apply as a credit Securities of a series with the same interest rate and Stated Maturity which have been redeemed either at the election of the Company pursuant to the terms of such
Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any 

  

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part of any mandatory sinking fund payment with respect to the Securities of such series with the same interest rate and Stated Maturity; provided,
that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund, and
the amount of such sinking fund payment shall be reduced accordingly. 
 Section 10.03 Redemption of Securities for Sinking Fund. Not
less than 60 days (or such shorter period as shall be reasonably acceptable to the Trustee) prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the
amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering
and crediting Securities of that series pursuant to Section 10.02 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.03. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.04 and 3.06. 
 ARTICLE XI 

ACTIONS OF HOLDERS OF SECURITIES 
 Section 11.01
Purposes for which Meetings May Be Called. A meeting of Holders of Securities of any series may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such series. 
 Section 11.02 Call, Notice and Place of Meetings. 
 (a) The Trustee may at any time call a meeting of Holders of Securities of
any series for any purpose specified in Section 11.01, to be held at such time and at such place in the Borough of Manhattan, The City of New York or, for a series of Securities issued as Bearer Securities, in London as the Trustee shall determine
or, with the approval of the Company, at any other place. Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting,
shall be given, in the manner provided in Section 12.02, not less than 21 nor more than 180 days prior to the date fixed for the meeting. 
 (b) In case at any time the Company or the Holders of at least 10% in Principal Amount of the Outstanding Securities of any series shall have requested the Trustee to call a meeting of the Holders of Securities of such series for any
purpose specified in Section 11.01, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after
receipt of such request or shall not thereafter proceed to cause the meeting to be held 

  

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as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time
and the place in the Borough of Manhattan, The City of New York, or for a series of Securities issued as Bearer Securities, in London, or in such other place as shall be determined and approved by the Company, for such meeting and may call such
meeting for such purposes by giving notice thereof as provided in subsection (a) of this Section 11.02. 
 Section 11.03 Persons
Entitled to Vote at Meeting. To be entitled to vote at any meeting of Holders of Securities of any series, a person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a person appointed by an instrument in
writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders. The only persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be
the persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 
 Section 11.04 Quorum; Action. The persons entitled to vote a majority in Principal Amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of Holders of Securities of such series.
In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved. In any other case, the meeting may be adjourned for a
period determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period determined by the chairman of the
meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 11.02(a), except that such notice need be given only once not less than five days prior to the date
on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall
constitute a quorum. 
 Except as limited by the proviso to Section 9.02, any resolution presented to a meeting or adjourned meeting duly
reconvened at which a quorum is present as aforesaid may be adopted by the affirmative vote of the Holders of a majority in Principal Amount of the Outstanding Securities of that series; provided, however, that, except as limited by the
proviso to Section 9.02, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified
percentage, which is less than a majority, in Principal Amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the
Holders of such specified percentage in Principal Amount of the Outstanding Securities of that series. 
 Any resolution passed or decision
taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities of such series and the related Coupons, whether or not present or represented at the meeting.

  

 52 

 Section 11.05 Determination of Voting Rights; Conduct and Adjournment of Meetings. 
 (a) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of
Holders of Securities of a series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies,
certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding of Securities shall be
proved in the manner specified in Section 11.07 and the appointment of any proxy shall be proved in the manner specified in Section 11.07 or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank
or banker authorized by Section 11.07 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in
Section 11.07 or other proof. 
 (b) The Trustee shall, by an instrument in writing, appoint a chairman of the meeting, unless the meeting
shall have been called by the Company or by Holders of Securities as provided in Section 11.02(b), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a chairman.

 (c) At any meeting, each Holder of a Security of a series or proxy shall be entitled to vote with respect to the Outstanding Securities of
such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect to any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The
chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy. 
 (d) Any meeting of Holders
of Securities of any series duly called pursuant to Section 11.02 at which a quorum is present may be adjourned from time to time by persons entitled to vote a majority in Principal Amount of the Outstanding Securities of such series represented at
the meeting; and the meeting may be held as so adjourned without further notice. 
 Section 11.06 Counting Votes and Recording Action of
Meetings. The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed signatures of the Holders of Securities of such series or of their representatives by
proxy and the Principal Amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or
against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of
Securities of any series shall be prepared by the secretary of the meeting, and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 11.02 and, if applicable, Section 11.04. Each copy shall be signed and verified by the affidavits of the chairman
and secretary of the meeting and one such copy shall be 

  

 53 

 
delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.
Any record so signed and verified shall be conclusive evidence of the matters therein stated. 
 Section 11.07 Actions of Holders
Generally. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. If Securities of a series are issuable as Bearer
Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders of such series may, alternatively, be embodied in and evidenced by the record of Holders of
Securities of such series voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of this Article, or a
combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby
expressly required, to the Company. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any person of a Security, shall be sufficient for any purpose of this Indenture and conclusive in favor of
the Trustee and the Company, if made in the manner provided in this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 11.06. 
 (b) The fact and date of the execution by any person of any such instrument or writing, or the authority of the persons executing the same, may be proved
in any reasonable manner which the Trustee deems sufficient. 
 (c) The Principal Amount and serial numbers of Registered Securities held by
the person, and the date of holding the same, shall be proved by the books of the Registrar. 
 (d) The Principal Amount and serial numbers
of Bearer Securities held by any person, and the date of holding the same, may be proved by the production of such Bearer Securities or by a certificate executed by any trust company, bank, banker or other depositary, wherever situated, as
depositary, if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date therein mentioned such person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts
may be proved by the certificate or affidavit of the person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of any Bearer
Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other person, or (3) such
Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding. The Principal Amount and serial numbers of Bearer Securities held by any person, and the date of holding the same, may
also be proved in any other manner which the Trustee deems sufficient. 
  

 54 

 (e) Any request, demand, authorization, direction, notice, consent, waiver or other act of the Holder of
any Security in accordance with this Section shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything
done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 (f) If the Company shall solicit from the Holders any request, demand, authorization, direction, notice, consent, waiver or other act in accordance with this Section, the Company may, at its option, by or pursuant to
an Officers’ Certificate delivered to the Trustee, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or such other act, but the Company shall
have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other act may be given before or after such record date, but only the Holders of record at the close of business
on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite percentage of Outstanding Securities or Outstanding Securities of a series, as the case may be, have authorized or agreed or consented
to such request, demand, authorization, direction, notice, consent, waiver or other act, and for that purpose the Outstanding Securities or Outstanding Securities of the series, as the case may be, shall be computed as of such record date;
provided, that no such authorization, agreement or consent by the Holders as of the close of business on the record date shall be deemed effective unless such request, demand, authorization, direction, notice, consent, waiver or other act
shall become effective pursuant to the provisions of clause (a) of this Section 11.07 not later than six months after the record date. 
 ARTICLE XII

 MISCELLANEOUS 
 Section 12.01 Trust
Indenture Act Controls. If any provision of this Indenture limits, qualifies or conflicts with another provision hereof which is required to be included in this Indenture by the TIA, the required provision shall control. 
 Section 12.02 Notices. Any notice or communication shall be in writing and delivered in person or mailed by first-class mail, postage prepaid;
provided, that any notice or communication by and among the Trustee and the Company may be made by telecopy or other commercially accepted electronic means and shall be effective upon receipt thereof and shall be confirmed in writing, mailed
by first-class mail, postage prepaid, and addressed as follows: 
 if to the Company: 
 Central European Distribution Corporation 
 Two Bala Plaza, Suite 300 
 Bala Cynwyd, Pennsylvania 19004 
 Fax (610) 667-3308 
  

 55 

 if to the Trustee: 
 The Bank of New York 
 One Canada Square 
 London E14 5AL 
 Fax 44-207-964-2536 
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication given to a Holder of Registered Securities shall be mailed to such Holder at the Holder’s address as it appears on
the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. Notice shall be sufficiently given to Holders of Bearer Securities if published in an Authorized Newspaper in The City of New York and
in such other city or cities as may be specified in such Securities on a Business Day at least twice, the first such publication to be not earlier than the earliest date, and not later than the latest date, prescribed for the giving of such notice.

 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its
sufficiency with respect to other Holders of Securities of the same series. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not received by the addressee. 
 If the Company mails a notice or communication to the Holders of Securities of a particular series, it shall mail a copy to the Trustee and each
Registrar, co-registrar or Paying Agent, as the case may be, with respect to such series. 
 In case by reason of the suspension of regular
mail service or by reason of any other cause it shall be impracticable to give notice to Holders of Registered Securities by mail, then such notification as shall be made with the acceptance of the Trustee shall constitute a sufficient notification
for every purpose hereunder. In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall
affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein. 
 In case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be
impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for
every purpose hereunder. Neither the failure to give notice by publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice to Holders of Registered Securities
given as provided herein. 
  

 56 

 Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this
Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication. 
 Section 12.03 Communication by Holders with Other Holders. Securityholders may communicate pursuant to TIA Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company
and the Trustee, the Registrar or the Paying Agent with respect to a particular series of Securities, and anyone else, shall have the protection of TIA Section 312(c). 
 Section 12.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee to take any action
under this Indenture, the Company shall furnish to the Trustee: 
 (1) an Officers’ Certificate stating that, in the
opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (2) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 Section 12.05 Form of Documents Delivered to Trustee. In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such
matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion
of, or representations by, an officer or officers of the Company with respect to such factual matters, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to
such matters are erroneous. 
 Section 12.06 Statements Required in Certificate or Opinion. Each Officers’ Certificate or Opinion
of Counsel with respect to compliance with a covenant or condition provided for in this Indenture shall include: 
 (1)
statement that each person making such Officers’ Certificate or Opinion of Counsel has read such covenant or condition; 
  

 57 

 (2) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such Officers’ Certificate or Opinion of Counsel are based; 
 (3) a
statement that, in the opinion of each such person, he has made such examination or investigation as is necessary to enable such person to express an informed opinion as to whether or not such covenant or condition has been complied with; and

 (4) a statement that, in the opinion of such person, such covenant or condition has been complied with. 
 Section 12.07 Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 12.08
Rules by Trustee, Paying Agent and Registrar. With respect to the Securities of a particular series, the Trustee with respect to such series of Securities may make reasonable rules for action by or a meeting of Holders of such series of Securities.
With respect to the Securities of a particular series, the Registrar and the Paying Agent with respect to such series of Securities may make reasonable rules for their functions. 
 Section 12.09 Legal Holidays. A “Legal Holiday” is any day other than a Business Day. If any specified date (including an Interest
Payment Date, Redemption Date or Stated Maturity of any Security, or a date for giving notice) is a Legal Holiday at any Place of Payment or place for giving notice, then (notwithstanding any other provision of this Indenture or of the Securities or
Coupons other than a provision in the Securities of any series which specifically states that such provision shall apply in lieu of this Section) payment of interest or Principal need not be made at such Place of Payment, or such other action need
not be taken, on such date, but the action shall be taken on the next succeeding day that is not a Legal Holiday at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated
Maturity or such other date and to the extent applicable no Original Issue Discount or interest, if any, shall accrue for the intervening period. 
 Section 12.10 Governing Law and Jurisdiction. THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW
YORK. THE COMPANY, THE TRUSTEE, AND EACH HOLDER OF A SECURITY (BY ACCEPTANCE THEREOF) THEREBY, (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN
CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING RELATED TO THIS INDENTURE, (II) IRREVOCABLY WAIVES ANY DEFENSE OF LACK OF PERSONAL JURISDICTION IN SUCH SUITS AND (III) IRREVOCABLY WAIVES TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE
LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING BROUGHT IN THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK AND THAT SUCH SUIT, ACTION OR
PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
  

 58 

 Section 12.11 Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 Section 12.12 No Recourse against Others. A director, officer, employee, stockholder or agent, as such, of the Company shall not have any liability
for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Holder of such Security shall waive and release all
such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 
 Section 12.13 Successors.
All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 
 Section 12.14 Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section 12.15 Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any person, other than the
parties hereto and their successors hereunder and the Holders of Securities, any benefits or any legal or equitable right, remedy or claim under this Indenture. 
 Section 12.16 Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is
enough to prove this Indenture. 
 Section 12.17 Force Majeure. In no event shall the Trustee be responsible or liable for any failure
or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which
are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 [The Remainder of This Page Intentionally Left Blank; Signature Page Follows] 
  

 59 

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

					
		 	 CENTRAL EUROPEAN DISTRIBUTION CORPORATION,
 as Issuer

			
		 	By:	 	 /s/ Christopher Biedermann

		 	Name:	 	Christopher Biedermann
		 	Title:	 	Vice President and Chief Financial Officer

			
	 THE BANK OF NEW YORK,
 as
Trustee

		
	By:	 	 /s/ Jason Blondell

	Name:	 	Jason Blondell
	Title:	 	Authorised Signatory

 EXHIBIT A 
 FORM OF CERTIFICATE RELATING TO 
 DEBT SECURITIES 
 [CURRENCY][AMOUNT] 
 [TITLE OF NOTES]

 This is to certify that, based on certificates we have received from our member organizations substantially in the form set out in Exhibit
B to the Indenture relating to the above-captioned Securities, as of the date hereof, U.S.$             principal amount of the above-captioned Securities acquired from Central European
Distribution Corporation (i) is owned by Persons that are not United States Persons (as defined below), (ii) is owned by United States Persons that are (a) foreign branches of United States financial institutions (as defined in United
States Treasury Regulations Section 1.165-12(c)(1)(iv) (“financial institutions”)) purchasing for their own account or for resale or (b) United States Persons who acquired the Securities through foreign branches of United
States financial institutions and who hold the Securities through such financial institutions on the date hereof (and in the case of either clause (a) or (b), each such financial institution has agreed for the benefit of Central European
Distribution Corporation to comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United States Internal Revenue Code of 1986, as amended, and the regulations thereunder) or (iii) is owned by financial
institutions for purposes of resale during the restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)). Financial institutions described in clause (iii) of the preceding sentence (whether or not
also described in clause (i) or (ii)) have certified that they have not acquired the Securities for purposes of resale directly or indirectly to United States Persons or to persons within the United States or its possessions. 
 As used in this Certificate, “United States Persons” means citizens or residents of the United States, corporations, partnerships or
other entities created or organized in or under the laws of the United States or any political subdivision thereof or estates or trusts the income of which is subject to United States Federal income taxation regardless of its source; “United
States” means the United States of America (including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction; and its “possessions” include Puerto Rico, the
U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 
 We further certify that (i) we are not
making available herewith for exchange any portion of the Temporary Global Bearer Security (as defined in the Indenture) enclosed herewith that is excepted in the certificates referred to in the first paragraph hereof and (ii) as of the date
hereof, we have not received any notification from any of our member organizations to the effect that the statements made by such member organizations are no longer true and cannot be relied upon as of the date hereof. 
  

 A-1 

 We understand that this certificate is required in connection with certain tax laws of the United States.
In connection therewith, if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate to any interested party in such
proceedings or as you otherwise deem appropriate. We agree to retain each statement provided by a member organization for a period of four calendar years following the year in which the statement is received. 
 Dated:                      * 
  

	*	To be dated no earlier than the Exchange Date. 

  

			
	[    ]	 	
		
	[    ]	 	
	
	  

  

 A-2 

 EXHIBIT B 
 FORM OF ACCOUNTHOLDER’S CERTIFICATION 
 Central European Distribution Corporation 
 (incorporated with limited liability under 
 the
laws of the State of Delaware, United States of America) 
 [CURRENCY][AMOUNT] 
 [TITLE OF NOTES] 
 This is to certify that as of the date hereof, and except as set forth below, the
above-captioned Securities held by you for our account (a) are owned by persons that are not (i) citizens or residents of the United States (as defined below), (ii) corporations, partnerships or other entities created or organized in
or under the laws of the United States, (iii) estates if the income of such estates falls within the federal income tax jurisdiction of the United States regardless of the source of such income, or (iv) trusts the administration over which
a United States court is able to exercise primary supervision and the substantial decisions of which one or more United States Persons have the authority to control (collectively, “United States Persons”), (b) are owned by
United States Person(s) that (i) are foreign branches of a United States financial institution (as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(iv)) (“financial institutions”) purchasing for their own
account or for resale, or (ii) acquired the Securities through foreign branches of United States financial institutions and who hold the Securities through such United States financial institutions on the date hereof (and in either case
(i) or (ii), each such United States financial institution hereby agrees, on its own behalf or through its agent, that you may advise Central European Distribution Corporation (the “Issuer”) or the Issuer’s agent that, for
the benefit of the Issuer and the Issuer’s agent, it will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (c) are owned
by United States or foreign financial institution(s) for purposes of resale during the restricted period (as defined in U.S. Treasury Regulations Section 1.163- 5(c)(2)(i)(D)(7)), and in addition if the owner of the Securities is a United
States or foreign financial institution described in clause (c) (whether or not also described in clause (a) or (b)) this is to further certify that such financial institution has not acquired the Securities for purposes of resale directly
or indirectly to a United States Person or to a person within the United States or its possessions. 
 [If the Securities are of the category contemplated in
Rule 903(b)(3) of Regulation S under the Securities Act of 1933, as amended (the “Act”), then this is also to certify that, except as set forth below, the Securities are beneficially owned by (1) non-U.S. person(s) or
(2) U.S. person(s) who purchased the Securities in transactions which did not require registration under the Act. As used in this paragraph the term “U.S. person” has the meaning given to it by Regulation S under the Act.]

 As used herein, “United States” means the United States of America (including the States and the District of Columbia); and its
“possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. We undertake to 

  

 B-1 

 
advise you promptly by confirmed telex on or prior to the date on which you intend to submit your certification relating to the Securities held by you for
our account in accordance with your operating procedures if any applicable statement herein is not or ceases to be correct, and in the absence of any such notification it may be assumed that this certification is correct. This certification excepts
and does not relate to [currency] [amount] of such interest in the above Securities in respect of which we are not able to certify and as to which we understand exchange and delivery of definitive Securities (or, if relevant, exercise of any rights
or collection of any interest) cannot be made until we do so certify. This certificate is intended to comply with U.S. Treasury Regulation Section 1.163-5(c)(2)(i)(D) and shall be interpreted and retained in accordance therewith. We understand
that this certification is required in connection with certain tax laws and, if applicable, certain securities laws of the United States. In connection therewith, if administrative or legal proceedings are commenced or threatened in connection with
which this certification is or would be relevant, we irrevocably authorize you to produce this certification to any interested party in such proceedings or as you otherwise deem appropriate. 
 Dated:                      
 [NAME OF ACCOUNT HOLDER] 
 AS, OR AS AGENT FOR, 
 THE BENEFICIAL OWNER(S) OF THE SECURITIES 
 TO WHICH THIS CERTIFICATE RELATES.

  

			
	By:	 	  

		 	Authorized signatory

  

 B-2Registration Rights Agmt

 EXHIBIT 4.9 
 REGISTRATION RIGHTS AGREEMENT 
 This REGISTRATION RIGHTS AGREEMENT dated as of 21 October 2008 (this
“Agreement”), is between (i) CENTRAL EUROPEAN DISTRIBUTION CORPORATION, a Delaware corporation (the “Company”), and (ii) BARCLAYS WEALTH TRUSTEES (JERSEY) LIMITED as Trustee of The First National Trust
(the “Initial Shareholder”). 
 WHEREAS, on the date hereof, the Initial Shareholder has been issued the number of shares of
common stock, par value $0.01 per share, of the Company (“Common Stock”) set forth on Schedule A attached hereto, in connection with the Company’s purchase from the Initial Shareholder of 50% minus one vote of the voting power
of Peulla Enterprises Limited, a private limited liability company by shares organized under the laws of Cyprus (the “SPV”) and 75% of the economic interest in the SPV pursuant to that certain Share Sale and Purchase Agreement dated
as of May 23, 2008 by and between the Company, the Initial Shareholder and certain other parties thereto (the “Purchase Agreement”); 
 WHEREAS, the shares of Common Stock issued (and to be issued) to the Shareholder have not been registered under the Securities Act (as hereinafter defined) or any state securities laws; and the certificates
representing such shares of Common Stock bear a legend restricting their transfer; and 
 WHEREAS, in connection with the foregoing, the
Company has agreed, subject to the terms, conditions and limitations set forth in this Agreement, to provide the Shareholder with certain registration rights in respect of shares of Common Stock. 
 NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS

 1.1 Definitions. Capitalized words and phrases used and not otherwise defined in this Agreement shall have the following
meanings: 
 “100% Affiliate” means, with respect to the Initial Shareholder, either Mark Kaoufman or any direct or indirect
Affiliate of Mark Kaoufman one hundred per cent. of whose securities are directly or indirectly owned by Mark Kaoufman and with respect to any other Shareholder means an Affiliate (i) that directly or indirectly owns one hundred per cent. of
the securities of such Shareholder, (ii) one hundred per cent. of whose securities are directly or indirectly owned by such Shareholder, or (iii) one hundred per cent. of whose securities are directly or indirectly owned by an Affiliate
that directly or indirectly owns one hundred per cent. of the securities of such Shareholder. 
 “Affiliate” means, with
respect to any party, any other party that, directly or indirectly through one or more intermediaries, Controls, is Controlled by or is under common Control with such first party; provided that solely for purposes of this Agreement, Mark Kaoufman
shall be deemed an Affiliate of the Initial Shareholder. 
 “Commission” means the Securities and Exchange Commission or any
other federal agency at the time administering the Securities Act. 

 “Control” means, as to any party, the power to direct or cause the direction of the
management and policies of such party, whether through the ownership of voting securities, by contract or otherwise. The terms “Controlled” and “under common Control with” shall be construed accordingly. 
 “Demand Registration” has the meaning set forth in Section 2.1. 
 “Equity Interest” means: 
  

	 	(a)	with respect to a company, any and all shares of capital stock; 

  

	 	(b)	with respect to a partnership, limited liability company, trust, or similar Person, any and all units, interests or other partnership or limited liability company interests; and

  

	 	(c)	any other direct equity ownership or participation in a Person. 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Known Competitor” means
a Person who, at the time of such transfer, the Shareholder knows is a competitor of the Company. 
 “Lock–Up Period”
means the period starting on the date hereof and ending on November 23, 2008. 
 “Losses” has the meaning set forth in
Section 6.1. 
 “Misstatement/Omission” has the meaning set forth in Section 6.1. 
 “Non-Registration Expenses” means (a) all overhead and compensation expenses relating to officers, directors, and employees of the
Company performing legal or accounting duties, and (b) qualification, filing, printing, messenger and delivery fees and expenses and all reasonable fees and disbursements of legal counsel, accountants, management and other advisors relating to
any filings of the Company made with the Commission prior to and following the filing of a registration statement pursuant to this Agreement, whether or not filed in connection with causing the registration of Registrable Securities pursuant to this
Agreement, or causing any such registration to be declared effective pursuant to this Agreement, other than such fees and expenses directly relating to supplements or amendments to registration statements filed in connection herewith. 
 “Parent” means, with respect to any Person, any such other Person that owns, directly or indirectly, fifty per cent. or more of the
outstanding capital stock or other Equity Interests of such Person, and in the case of the Shareholder, any of the direct or indirect ultimate beneficial holders of shares of the Shareholder and any immediate family member thereof. 
 “Person” means any individual, corporation, partnership, trust or other entity of any nature whatsoever. 
 “Piggyback Registration” has the meaning set forth in Section 3.1. 
 “register”, “registered”, and “registration”, when used with respect to the capital stock of the
Company, mean a registration effected by preparing and filing a registration statement or similar document in compliance with the Securities Act which has been declared or ordered effective, or is automatically effective on filing, in accordance
with the Securities Act. 
  

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 “Registrable Securities” means (i) the shares of Common Stock issued to the
Shareholder in connection with the Purchase Agreement, (ii) any Common Stock issued (or issuable upon the conversion or exercise of any warrant, right, option or other convertible security which is issued) as a dividend or other distribution
with respect to, or in exchange for, or in replacement of, the Common Stock referred to in clause (i) above, and (iii) any Common Stock issued by way of a stock split of the Common Stock referred to in clauses (i) or (ii) above.
Shares of Common Stock shall cease to be Registrable Securities when (A) a registration statement with respect to the sale of such shares of Common Stock shall have become effective under the Securities Act pursuant to Section 2.1 or 3.1
of this Agreement, (B) such shares of Common Stock shall have been sold or otherwise distributed pursuant to Rule 144 (or any successor provision) under the Securities Act, (C) the one year anniversary of the issuance of the shares of
Common Stock issued pursuant to the Purchase Agreement occurs, (D) such shares of Common Stock are Transferred in accordance with Section 9.1(b) or are otherwise no longer held by the Shareholders, or (E) such shares of Common Stock
shall have ceased to be outstanding. 
 “Registration Expenses” means all registration, qualification, filing, printing,
messenger and delivery fees and expenses and all reasonable fees and disbursements of legal counsel, accountants and other advisors relating to the registration of Registrable Securities pursuant to this Agreement, relating to causing such
registration to become effective pursuant to this Agreement, and relating to causing such registration to remain effective for the time periods set forth in this Agreement, but excluding all underwriting discounts and selling commissions applicable
to the registration and sale of Registrable Securities pursuant to this Agreement. 
 “Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder. 
 “Shareholder” or
“Shareholders” means individually or collectively, as applicable: (i) the Initial Shareholder; (ii) a Person who owns Registrable Securities pursuant to a transfer of such Registrable Securities that meets the terms and
conditions set forth in ARTICLE IX hereof and who has agreed to be bound by the terms of this Agreement; (iii) upon the death of any natural Shareholder, the executor of such Shareholder or such Shareholder’s heirs, devisees, legatees or
assigns; or (iv) upon the disability of any natural Shareholder, any guardian or conservator of such Shareholder. 
 “Shareholder Indemnified Parties” has the meaning set forth in Section 6.1. 
 “Transfer”
means any transfer, sale, gift, assignment, distribution, conveyance, pledge, hypothecation, encumbrance or other voluntary or involuntary transfer of title or beneficial interest, whether or not for value, including, without limitation, any
disposition by operation of law or any grant of a derivative or economic interest therein. 
 “Ultimate Parent” means, in
relation to any Person, any Parent of such Person who is not a Subsidiary of another Person. 
 ARTICLE II 
 DEMAND REGISTRATION 
 2.1 Demand
Registration. If, at any time after the expiration of the Lock–Up Period, the Shareholders make a written request to the Company requesting that the Company register under the Securities Act all or any part of the issued and outstanding
Registrable Securities (a “Demand Registration”), then, subject to the restrictions contained herein, the Company shall file a registration statement under the Securities Act with the Commission, and use commercially reasonable
efforts to cause such Registrable Securities to be registered under the Securities Act, in accordance with Article V below. 
  

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 2.2 Number of Demand Registrations. The Shareholders shall be entitled to request one
(1) Demand Registration. 
 2.3 Expenses. With respect to the Demand Registration, the Company shall bear sole responsibility for
all Registration Expenses and Non-Registration Expenses incurred in connection with such Demand Registration. 
 2.4 Underwriting. If
the Shareholders intend to distribute the Registrable Securities covered by their request by means of an underwriting, then they shall so advise the Company as a part of their request. In such case, the Shareholders shall negotiate with an
underwriter selected by them and approved by the Company, which approval shall not be unreasonably withheld, with regard to the underwriting of such requested registration. The right of the Shareholders to include Registrable Securities in such
registration shall be conditioned upon (i) the Shareholders’ participation in such underwriting and the inclusion of such Shareholder’s Registrable Securities in the underwriting (unless otherwise agreed by a majority in interest of
the Shareholders requesting such registration), (ii) the entry of the participating Shareholders (together with the Company and other holders distributing their securities through such underwriting) into an underwriting agreement in customary
form with the underwriter or underwriters selected for such underwriting, and (iii) the completion and execution by the participating Shareholders of all questionnaires, powers of attorney, indemnities and other documents required under the
terms of such underwriting arrangements. If any Shareholder of Registrable Securities disapproves of the terms of the underwriting, such Shareholder may elect to withdraw all of its Registrable Securities by written notice to the Company, the
managing underwriter and the other Shareholders; provided, that, subject to Section 2.5 hereof, such registration shall be counted as a Demand Registration for the purposes of calculating the remaining number of Demand Registrations to which
the Shareholders are entitled pursuant to this Section 2.4. The securities so withdrawn shall also be withdrawn from registration. 
 2.5 Shareholder Withdrawal. Shareholders may, at any time prior to the effective date of the registration statement in respect of a Demand Registration, revoke such Demand Registration by providing a written notice to the Company to
such effect, and such revoked Demand Registration shall not be deemed to be a Demand Registration pursuant to this ARTICLE II; provided, that only one Demand Registration may be revoked pursuant to this Section 2.5. 
 2.6 Registration on Form S–3. If, at the time of delivery of a request to the Company pursuant to Section 2.1, the Company is a
registrant entitled to use Form S–3 or any successor thereto to register shares of Common Stock, then the Company shall use its commercially reasonable efforts to effect the Demand Registration on Form S–3 or any successor thereto.

 2.7 Priority for Demand Registrations. Notwithstanding any other provision of this ARTICLE II, if the managing underwriter
(which managing underwriter shall be an internationally recognized financial institution experienced in securities offerings registered under the Securities Act, selected by the Shareholder subject to the Company’s reasonable approval) advises
the Company that the marketability of the offering would be adversely affected by the number of securities included in such offering, then the Company shall so advise all Shareholders, and the number of shares of Registrable Securities that may be
included in the registration and underwriting shall be reduced as required by the underwriter(s), and the Company shall include in such registration the maximum number of Registrable Securities permitted by the underwriter to be included therein,
pro rata among the respective Shareholders thereof on the basis of the amount of Registrable Securities requested to be included in such registration by each such Shareholder; provided that no Shareholder shall be subject to any such pro rata
reduction 

  

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unless and until any securities proposed by the Company to be registered for its own account and any securities proposed to be registered, pursuant to the
exercise of their piggyback registration rights or otherwise, by other holders shall first have been required to withdraw all such securities from the registration. The first time the Shareholders are prohibited from registering all of the
Registrable Securities requested to be included in such registration because of reductions required by this Section 2.7, the Shareholders shall not be deemed to have exercised a Demand Registration. Any other Demand Registration that is
required to be reduced pursuant to this Section 2.6 will, however, be deemed to be a properly exercised Demand Registration. 
 ARTICLE III 
 PIGGYBACK REGISTRATION 
 3.1 Right to Piggyback Registrations. At any time after the receipt by the Shareholders of the shares of Common Stock issued to the Shareholders pursuant to the Purchase Agreement, whenever the Company or
another party having registration rights proposes that the Company register any of the Company’s equity securities under the Securities Act for any reason (other than a registration on Form S-4 or Form S-8 or any successor forms thereto),
whether or not for sale for the Company’s own account, the Company will give written notice of such proposed registration to all Shareholders at least 30 days before the anticipated filing date. Such notice shall offer such Shareholders the
opportunity to register such amount of Registrable Securities as they shall request (a “Piggyback Registration”). The Company shall use commercially reasonable efforts to include in each such Piggyback Registration all Registrable
Securities with respect to which the Company has received written requests for inclusion therein within 20 days after notice has been given by the Company to the Shareholders. If the registration statement relating to the Piggyback Registration is
for an underwritten offering, such Registrable Securities shall be included in the underwriting on the same terms and conditions as the securities otherwise being sold through the underwriters. The Shareholder shall be permitted to withdraw all or
part of the Registrable Securities from a Piggyback Registration prior to the effective time of such Piggyback Registration on one occasion and in exercising such Piggyback Registration the Shareholder shall not be deemed to have exercised its
rights under this Section 3.1. The right of any Shareholder to a Piggyback Registration shall be conditioned upon such Shareholder entering into an underwriting agreement in customary form with the managing underwriter or underwriters for such
registered offering. No registration pursuant to this ARTICLE III will relieve the Company of its obligations to register Registrable Securities pursuant to a Demand Registration contemplated by ARTICLE II hereof. The rights to Piggyback
Registration may be exercised an unlimited number of occasions. 
 3.2 Priority for Piggyback Registrations. If the underwriter of a
Piggyback Registration advises the Company that, in its opinion, the amount of Registrable Securities requested to be included in such Piggyback Registration exceeds the amount which can be sold in such offering without adversely affecting the
distribution of the securities being offered, then the Company will allocate the securities to be included in such registration as follows: 
  

	 	(i)	first, pro rata among (A) the Company, to the extent the Company proposes to register any securities for its own account, and (B) another party having registration rights
causing the Company to effect a registration, to the extent such party proposes to register any securities; and 

  

	 	(ii)	second, pro rata to the Shareholders and any others requesting registration of securities of the Company. 

  

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 ARTICLE IV 
 PERMITTED DELAYS IN REGISTRATION 
 4.1 Suspension of Company Obligations. Notwithstanding
anything to the contrary set forth in this Agreement, the Company’s obligation under ARTICLE II of this Agreement to file any registration statement and to cause Registrable Securities to be registered as provided therein shall be suspended in
the event that (i) the Company is currently engaged in an underwritten primary offering, or (ii) a registration statement for a public offering of the Company’s securities was declared effective within the previous 180 days. In
addition, the Company’s obligation under ARTICLE II of this Agreement to file any registration statement, to cause Registrable Securities to be registered, and to maintain the effectiveness of such registration statement shall be suspended
(and, to the extent applicable, the Shareholders shall suspend the disposition of any Registrable Securities pursuant to a then currently effective registration statement) for a period not to exceed 90 days in the event that, in the good faith
opinion of the Company’s Board of Directors, effecting or maintaining the effectiveness of the registration of Registrable Securities would be detrimental to any financing, acquisition, merger, disposition of assets, disposition of stock or
other comparable transaction then being pursued by the Company or would require the Company to make public disclosure of information which could have an adverse effect upon the Company. The Company shall notify the Shareholders in writing of the
existence of any suspension event set forth in this Section 4.1, and such notice and all facts and circumstances relating to such suspension event shall be kept confidential by the Shareholders. 
 ARTICLE V 
 REGISTRATION PROCEDURES

 5.1 Registration Procedures. Whenever the Company is obligated to register the Registrable Securities pursuant to this
Agreement, the Company shall use its commercially reasonable efforts to: 
 (a) prepare and file with the Commission a registration statement
with respect to such Shareholder’s Registrable Securities in a reasonable amount of time after receiving the appropriate request from the Shareholders, and to include in such registration statement the Registrable Securities which the Company
has been requested to register; 
 (b) cause all such Registrable Securities to be registered under the Securities Act in a reasonable amount
of time and, subject to Section 4.1, to cause such registration statement to remain effective until the earlier of (i) the one year anniversary of the issuance of the shares of Common stock issued pursuant to the Purchase Agreement, and
(ii) the completion of the distribution described in the registration statement relating thereto; 
 (c) furnish the Shareholders, their
underwriters, if any, and their respective counsel, at such times so as to permit their reasonable review, the opportunity to review the registration statement, each prospectus included therein or filed with the Commission, and each amendment
thereof or supplement thereto, and to consider in good faith incorporating any comments reasonably requested by the Shareholders, their underwriters, if any, and their respective counsel, provided that the Shareholders’, the underwriters’,
if any, and their respective counsels’ review of such documents shall not delay the filing of the registration statement so long as such parties have been provided a reasonable time to review the same; 
  

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 (d) make available for reasonable inspection by, or give reasonable access to, any underwriter
participating in any disposition of Registrable Securities all pertinent financial and other records, pertinent corporate documents and properties of the Company, and to cause its senior management to participate in such management presentations and
one roadshow as such underwriters may reasonably request (provided that such managers are given reasonable advanced notice of such presentations and roadshow and that such managers shall only be obligated to participate in one roadshow of reasonably
customary duration) and to cause the Company’s directors, officers and employees to supply all information reasonably requested by any such underwriter in connection with the offering thereunder; 
 (e) furnish, without charge, to the Shareholders and to the underwriters of the securities being registered such number of copies of the registration
statement, preliminary prospectus, final prospectus and other documents incident thereto as such underwriters and the Shareholders from time to time may reasonably request; 
 (f) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement; 
 (g) register or qualify the Registrable Securities covered by such registration statement under such other securities laws or state blue sky laws of such
U.S. jurisdictions as shall be reasonably requested by the Shareholders for the distribution of the Registrable Securities covered by the registration statement; provided that the Company shall not be required to qualify to do business or to file a
general consent to service of process in any such states or jurisdictions or to subject itself to taxation in any such states or jurisdictions wherein it would not but for the requirements of this paragraph (g) be required to do so; 

(h) enter into customary agreements in form and substance reasonably satisfactory to the Company (including a customary underwriting agreement in form
and substance reasonably satisfactory to the Company, if the offering is to be underwritten, in whole or in part); 
 (i) notify the
Shareholders at any time when a prospectus relating thereto covered by such registration statement is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing and,
at the request of any Shareholder, promptly prepare and furnish to such Shareholder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such
securities, such prospectus shall not include an untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing;
provided that, upon receipt of such notice from the Company, the Shareholders will forthwith discontinue disposition of their Registrable Securities pursuant to the registration statement covering such Registrable Securities until the Shareholders
receive the copies of the supplemented or amended prospectus covering such Registrable Securities (and the Shareholders shall return to the Company all copies of the unsupplemented or unamended prospectus covering such Registrable Securities);

 (j) list all Registrable Securities covered by such registration statement on the NASDAQ or on such other securities exchange on which
shares of Common Stock are then currently listed; 
  

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 (k) prevent the issuance of any order suspending the effectiveness of a registration statement or
suspending the qualification (or exemption from qualification) of any of the Registrable Securities included therein for sale in any U.S. jurisdiction, and, in the event of the issuance of any stop order suspending the effectiveness of a
registration statement, or of any order suspending the qualification of any Registrable Securities included in such registration statement for sale in any U.S. jurisdiction, the Company will use commercially reasonable efforts to promptly obtain the
withdrawal of such order; 
 (l) obtain “cold comfort” letters and updates thereof reasonably satisfactory to the managing
underwriters from the independent certified public accountants of the Company, addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in
connection with underwritten offerings; and 
 (m) obtain opinions of independent counsel to the Company reasonably satisfactory to the
managing underwriters, addressed to each of the underwriters covering the matters customarily covered in opinions of issuer’s counsel requested in underwritten offerings. 
 ARTICLE VI 
 INDEMNIFICATION 
 6.1 Indemnification by the Company. In the event of any registration of any Registrable Securities pursuant to this Agreement under the Securities
Act, the Company will indemnify, hold harmless and reimburse each participating Shareholder, each of the directors, officers, employees, managers, stockholders, partners, members, counsel, agents, trustees or representatives of such Shareholder and
its Affiliates and each Person who controls any such Person, if any, and each other Person who participates as an underwriter for the Shareholders in the offering or sale of such securities and each other Person (including its officers and
directors) who controls any such underwriter within the meaning of the Securities Act (collectively, “Shareholder Indemnified Parties”), against any Registration Expenses, Non-Registration Expenses losses, claims, damages or
liabilities, joint or several, to which such participating Shareholder or any such Person, underwriter or controlling person may become subject under the Securities Act or otherwise (collectively “Losses”), insofar as such Losses
arise out of or are based on any untrue statement or alleged untrue statement of any material fact contained in the registration statement, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading (a “Misstatement/Omission”), under which such Registrable Securities were registered under the Securities Act, in any preliminary prospectus, final prospectus or summary prospectus contained
therein, or in any amendment or supplement thereto, and shall reimburse such Shareholder Indemnified Parties, such Person participating as an underwriter for the Shareholders in the offering or sale of such securities and each other Person
(including its officers and directors) who controls any such underwriter within the meaning of the Securities Act for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Losses; provided,
however, that the Company shall not be liable in any such case to the extent that any such Losses or expense arises out of or is based upon a Misstatement/Omission made in such registration statement, preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity with information furnished to the Company by any participating Shareholder or any other Person who participates as an underwriter in the offering or sale of such
securities or any of their controlling persons. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of any such participating Shareholder or any such underwriter or controlling person and shall
survive the transfer of such securities by the Shareholder. 
 6.2 Indemnification by Participating Shareholders. Each of the
participating Shareholders whose Registrable Securities are included or are to be included in any registration statement, as a 

  

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condition to including Registrable Securities in such registration statement, hereby agrees to indemnify, hold harmless and reimburse (in the same manner and
to the same extent as set forth in Section 6.1) the Company, each of its directors, officers, employees, managers, stockholders, counsel, agents or representatives and the Company’s Affiliates and each Person who controls any such Person
within the meaning of the Securities Act, and each other Person who participates as an underwriter in the offering or sale of such securities and each other Person who controls any such underwriter within the meaning of the Securities Act with
respect to any Losses that arise out of or are based on any Misstatement/Omission, from such registration statement, preliminary prospectus, final prospectus or summary prospectus, or any amendment or supplement thereto, if such untrue statement or
alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with information furnished to the Company by any participating Shareholder. Notwithstanding the foregoing, the obligation to indemnify will be
individual (several and not joint) to each Shareholder and will be limited to the net amount of proceeds received by such Shareholder from the sale of Registrable Securities pursuant to such registration statement giving rise to such indemnification
obligation. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Company or any such director, officer, or any such underwriter or controlling person and shall survive the transfer of such
securities by any participating Shareholder. 
 6.3 Notices of Claims. Promptly after receipt by an indemnified party of notice of the
commencement of any action or proceeding involving a claim referred to in Section 6.1 or 6.2, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party, give written notice to the latter of the
commencement of such action; provided, however, that the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations under Section 6.1 or 6.2, except to the extent that the
indemnifying party is actually prejudiced by such failure to give notice. In case any such action is brought against an indemnified party, unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified
and indemnifying parties may exist in respect of such claim, the indemnifying party shall be entitled to participate in and to assume the defense of such action, jointly with any other indemnifying party similarly notified to the extent that it may
wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to the
indemnified party for any legal or other expenses subsequently incurred by the indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided, that the indemnified party may participate in such
defense at the indemnified party’s expense and provided, further, that all indemnified parties shall have the right to employ one counsel to represent them if, in the reasonable judgment of such indemnified parties, it is advisable for them to
be represented by separate counsel by reason of having legal defenses which are different from or in addition to those available to the indemnifying party, and in that event the reasonable fees and expenses of such one counsel shall be paid by the
indemnifying party. If the indemnifying party is not entitled to, or elects not to, assume the defense of a claim, it will not be obligated to pay the fees and expenses of more than one counsel for the indemnified parties with respect to such claim,
unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay
the fees and expenses of such additional counsel for the indemnified parties. No indemnifying party shall consent to entry of any judgment or enter into any settlement without the consent of the indemnified party which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. No indemnifying party shall be subject to any liability for any settlement made
without its written consent. The indemnifying party’s liability to any such indemnified party hereunder shall not be extinguished solely because any other indemnified party is not entitled to indemnity hereunder. 
  

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 6.4 Survival. The indemnification provided for under this Agreement will (i) remain in full
force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party, (ii) survive the transfer of securities and (iii) survive the
termination of this Agreement. 
 6.5 Contribution. If, for any reason, the foregoing indemnity is unavailable, or is insufficient to
hold harmless an indemnified party, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of the expense, loss, claim, damage or liability in such proportion as is appropriate to reflect the
relative fault of the indemnifying party on the one hand and the indemnified party on the other (determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission
relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission), as well as any other
relevant equitable considerations. The amount paid or payable by a party as a result of the expense, loss, claim, damage or liability referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party
in connection with any investigation or proceeding. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 6.5 were determined by pro rata allocation or by any other means of allocation, unless
such contribution takes into account the equitable considerations referred to in this paragraph. Notwithstanding the provisions of this Section 6.5, a Shareholder shall not be required to contribute any amount in excess of the amount by which
(i) the amount at which the securities that were sold by such Shareholder and distributed to the public were offered to the public exceeds (ii) the amount of any damages which such Shareholder has otherwise been required to pay by reason
of such Misstatement/Omission or violation. No indemnified party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any indemnifying party who was not guilty
of such fraudulent misrepresentation. 
 ARTICLE VII 
 INFORMATION BY PARTICIPATING SHAREHOLDERS 
 7.1 Information Regarding Participating
Shareholders. If any Registrable Securities are to be included in any registration, each participating Shareholder shall promptly furnish to the Company and any applicable underwriter such information regarding such Shareholder and the
distribution proposed by such Shareholder as the Company or such underwriter reasonably believes is required in connection with any registration, qualification or compliance referred to in this Agreement. 
 ARTICLE VIII 
 RULE 144 SALES 

 8.1 Reporting. With a view to making available to the Shareholders the benefits of certain rules and regulations of the Commission
which may permit the sale of Registrable Securities to the public without registration or through short form registration forms, the Company agrees to use its commercially reasonable efforts to: 
 (a) make and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act; and 
 (b) file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act.

  

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 ARTICLE IX 
 RESTRICTIONS ON TRANSFER 
 9.1 Restrictions on Transferability. 
 (a) During the Lock–Up Period, the Registrable Securities held by the Shareholders may not be Transferred without the prior written consent of CEDC,
in whole or in part, except in accordance with Section 9.1(b). After the Lock–Up Period, the Registrable Securities held by the Shareholders may be Transferred, in whole or in part, to any Person provided, that: 
  

	 	(i)	there is in effect a registration statement under the Securities Act covering such proposed Transfer and such Transfer is made in accordance with such registration statement; or

  

	 	(ii)	such Transfer is eligible under Rule 144 or such Transfer is otherwise made in accordance with applicable securities law, and (A) the Shareholders shall have notified the
Company of the proposed Transfer and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed Transfer, provided that such detailed statement is kept confidential and is not disclosed to any other
Person until prior written consent from the Shareholder is given which explicitly authorizes the disclosure of the information in such detailed statement, or (B) the Shareholders provide the Company and the Company’s transfer agent with a
legal opinion from independent internationally recognized legal counsel experienced in such matters, which legal opinion shall be in customary form reasonably acceptable to the Company and shall state that such Transfer is eligible under Rule 144 or
is otherwise made in accordance with applicable securities laws. 

 (b) The Registrable Securities held by the Shareholders may
be transferred at any time, in whole or in part, (i) to any Person that is a 100% Affiliate of an Ultimate Parent, so long as such Person (A) remains a 100% Affiliate of such Ultimate Parent and (B) agrees in writing to be bound by
the terms and conditions of this Agreement, (ii) pursuant to a tender offer within the meaning of the Exchange Act for any or all of the shares of Common Stock of the Company, (iii) in connection with any plan of reorganization,
restructuring, bankruptcy, insolvency, merger or consolidation, reclassification, recapitalization, or, in each case, similar corporate event of the Company, or (iv) an involuntary transfer pursuant to operation of law. 
 (c) Any proposed Transfer of any Registrable Securities held by any Shareholder to a Known Competitor of the Company, including the circumstances
surrounding such proposed Transfer, shall be disclosed in writing to the Company 10 days before such proposed Transfer is effected. 
 (d)
Each Shareholder is aware of the following Telephone Interpretation in the SEC Manual of Publicly Available Telephone Interpretations (July 1997): 
 A.65. Section 5 
 An issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet
effective. One of the selling shareholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not be made
before the registration statement 

  

 -11- 

 
becomes effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation
of Section 5 if the shares were effectively sold prior to the effective date. 
 (e) The Company is required to refuse to register any
transfer of the Shares which is not made in accordance with Regulation S under the Securities Act, pursuant to a registration statement under the Securities Act or pursuant to an available exemption therefrom. 
 9.2 Restrictions on Sales During Registration Periods. In addition to the restrictions set forth in Section 9.1, each Shareholder agrees not
to, except with respect to a 100% Affiliate of an Ultimate Parent that (a) remains a 100% Affiliate of such Ultimate Parent and (b) agrees in writing to be bound by the terms and conditions of this Agreement, offer, sell (including
pursuant to Rule 144), distribute, sell short, loan, grant an option for the purchase of, enter into any swap or hedge agreement in connection with, or otherwise Transfer any Common Stock or any securities convertible into or exchangeable or
exercisable for Common Stock, during the 15 days prior to and the 180 days after the effective date of any underwritten public offering of the Company’s securities, unless the Company’s Board of Directors and the underwriters managing such
public offering otherwise agree. The Shareholders shall not take any action with respect to any distribution deemed to be made pursuant to any Demand Registration that would constitute a violation of Regulation M under the Exchange Act. 

9.3 No Participation in Other Securities Offerings. The rights granted by the Company hereunder shall be the exclusive rights granted to
Shareholders with respect to Registrable Securities. Except as otherwise provided herein, the Shareholders shall have no rights to participate in any offering of securities by the Company to third parties, whether such offering is effected pursuant
to registration under the Securities Act or pursuant to an exemption from registration thereunder. 
 ARTICLE X 
 COVENANTS 
 10.1 Shareholders.
Each Shareholder hereby agrees (i) to cooperate with the Company and to furnish to the Company all such information regarding such Shareholder, its ownership of Registrable Securities and the disposition of such securities in connection with
the preparation of the registration statement and any filings with any state securities commissions as the Company may reasonably request, (ii) to the extent required by the Securities Act, to deliver or cause delivery of the Prospectus
contained in the registration statement, any amendment or supplement thereto, to any purchaser of the Registrable Securities covered by the registration statement from the Shareholder, (iii) if requested by the Company, to notify the Company of
any sale of Registrable Securities by such Shareholder and (iv) not to sell any of its Registrable Securities held by such holder for a period of six months following the Closing Date. 
 ARTICLE XI 
 TERMINATION 
 11.1 Termination. This Agreement and the rights provided hereunder shall terminate and be of no further force and effect with respect to each
Shareholder on the date the Registrable Securities held by such Shareholder cease to be Registrable Securities pursuant to the terms of this Agreement. This Section 11.1 shall not, however, apply to the provisions of ARTICLE VI of this
Agreement, which shall survive the termination of this Agreement. 
  

 -12- 

 ARTICLE XII 
 MISCELLANEOUS 
 12.1 Decisions or Actions of the Shareholders. For the purposes of this
Agreement, an action or decision shall be deemed to have taken by all of the Shareholders if such action or decision shall have been made by Shareholders holding a majority of the Registrable Securities. 
 12.2 Successors and Assigns. Subject to the provisions of Section 9.1, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective successors, assigns and transferees of the parties. If any successor, assignee or transferee of any Shareholder shall acquire Registrable Securities, in any manner, whether by operation of law or otherwise, such
Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by all of the terms and provisions hereof.

 12.3 Notices. All notices and other communications provided for hereunder shall be in writing and sent by registered or certified
mail, return receipt requested, postage prepaid or delivered in person or by courier, telecopier or electronic mail, and shall be deemed to have been duly given on the date on which personally delivered to, or actually received by, the party to whom
such notice is to be given at its address set forth below, or at such other address for the party as shall be specified by notice given pursuant hereto: 
  

	 	(a)	If to the Company, to: 

 Central European Distribution
Company 
 Two Bala Plaza 
 Suite
#300 
 Bala Cynwyd, Pennsylvania 19004 
 United States of America 
 Attn: William V. Carey, President 
 with a copy (which shall not constitute notice) to: 
 Dewey & LeBoeuf LLP 
 1301 Avenue of the Americas 
 New York, New York 10019 
 United States of
America 
 Attn: Frank R. Adams, Esq. 
  

	 	(b)	If to the Shareholders, to: 

 Barclays Wealth Trustees
(Jersey) Limited as Trustee 
 of The First National Trust 
 39-41 Broad Street, 
 St Helier 
 Jersey JE4 5PS 
 The Channel Islands 
 Attn: Robert Kerley 
  

 -13- 

 with a copy (which shall not constitute notice) to: 
 Darrois Villey Maillot Brochier 
 69 avenue
Victor Hugo 
 75116 Paris 
 France 
 Attn: Ben Burman 
 12.4 Governing Law. This Agreement and any controversy or claim arising out of or relating to this Agreement shall be governed by the laws of the State of New York, without giving effect to the principles of conflicts of laws.

 12.5 Entire Agreement; Amendments and Waivers. This Agreement constitutes the entire agreement among the parties pertaining to the
subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions whether oral or written, of the parties. No supplement, modification or waiver of this Agreement shall be binding unless executed in writing by
all parties. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly
provided. 
 12.6 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Copies of executed counterparts transmitted by telecopy or other electronic transmission service shall be considered original executed counterparts. 
 12.7 Severability. In the event that any one or more of the provisions contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. 
 12.8 Headings. The headings of the Articles and Sections herein are inserted for convenience of reference only and are not intended to be part of or to affect the meaning or interpretation of this Agreement. 
 12.9 Gender and Other References. Unless the context clearly indicates otherwise, the use of any gender pronoun in this Agreement shall be deemed
to include all other genders, and singular references shall include the plural and vice versa. 
 [SIGNATURE PAGE FOLLOWS] 
  

 -14- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

					
		 	CENTRAL EUROPEAN DISTRIBUTION CORPORATION
			
		 	By:	 	 /s/ William Carey

		 	Name:	 	William Carey
		 	Title:	 	President
		
		 	 BARCLAYS WEALTH TRUSTEES (JERSEY) LIMITED
 as Trustee of The First National Trust

			
		 	By:	 	 /s/ Paul Sinel

		 	Name:	 	Paul Sinel
		 	Title:	 	Director

 Schedule A 
  

			
	 Name of Shareholder
	 	 Number of Shares of Common Stock

	 BARCLAYS WEALTH TRUSTEES (JERSEY) LIMITED
 as Trustee of The First National Trust
	 	843,524

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