Document:

Junior Subordinated Debt Indenture

 Exhibit 4.1 
  

 JUNIOR SUBORDINATED INDENTURE 
 between 
 NATIONWIDE FINANCIAL SERVICES, INC. 
 and 
 WILMINGTON TRUST COMPANY, 
 as Trustee 
 Dated as of May 18, 2007

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I
 Definitions and Other Provisions
 of General Application

			
	 SECTION 1.01.
	  	 Definitions
	  	1
	 SECTION 1.02.
	  	 Compliance Certificate and Opinions
	  	7
	 SECTION 1.03.
	  	 Forms of Documents Delivered to Trustee
	  	8
	 SECTION 1.04.
	  	 Acts of Holders
	  	8
	 SECTION 1.05.
	  	 Notices, etc., to Trustee and Company
	  	9
	 SECTION 1.06.
	  	 Notice to Holders; Waiver
	  	10
	 SECTION 1.07.
	  	 Conflict with Trust Indenture Act
	  	10
	 SECTION 1.08.
	  	 Effect of Headings and Table of Contents
	  	10
	 SECTION 1.09.
	  	 Successors and Assigns
	  	10
	 SECTION 1.10.
	  	 Separability Clause
	  	10
	 SECTION 1.11.
	  	 Benefits of Indenture
	  	10
	 SECTION 1.12.
	  	 Governing Law
	  	10
	 SECTION 1.13.
	  	 Nonbusiness Days
	  	11
	
	 ARTICLE II
 Security Forms

			
	 SECTION 2.01.
	  	 Forms Generally
	  	11
	 SECTION 2.02.
	  	 Form of Trustee’s Certificate of Authentication
	  	11
	
	 ARTICLE III
 The Securities

			
	 SECTION 3.01.
	  	 Amount Unlimited; Issuable in Series
	  	11
	 SECTION 3.02.
	  	 Denominations
	  	13
	 SECTION 3.03.
	  	 Execution, Authentication, Delivery and Dating
	  	13
	 SECTION 3.04.
	  	 Temporary Securities
	  	15
	 SECTION 3.05.
	  	 Registration, Transfer and Exchange
	  	15
	 SECTION 3.06.
	  	 Mutilated, Destroyed, Lost and Stolen Securities
	  	17
	 SECTION 3.07.
	  	 Payment of Interest; Interest Rights Preserved
	  	17
	 SECTION 3.08.
	  	 Persons Deemed Owners
	  	19
	 SECTION 3.09.
	  	 Cancellation
	  	19
	 SECTION 3.10.
	  	 Computation of Interest
	  	19
	 SECTION 3.11.
	  	 CUSIP Numbers
	  	19
	
	 ARTICLE IV
 Satisfaction and Discharge

			
	 SECTION 4.01.
	  	 Satisfaction and Discharge of Indenture
	  	19

  

 -i- 

					
	 SECTION 4.02.
	  	 Application of Trust Money
	  	20
	 SECTION 4.03.
	  	 Applicability of Defeasance Provisions; Company’s Option to Effect Defeasance or Covenant Defeasance
	  	20
	 SECTION 4.04.
	  	 Defeasance and Discharge
	  	21
	 SECTION 4.05.
	  	 Covenant Defeasance
	  	21
	 SECTION 4.06.
	  	 Conditions to Defeasance or Covenant Defeasance
	  	22
	 SECTION 4.07.
	  	 Deposited Money and Government Obligations to be Held in Trust
	  	23
	 SECTION 4.08.
	  	 Repayment to Company
	  	23
	 SECTION 4.09.
	  	 Indemnity For Government Obligations
	  	23
	 SECTION 4.10.
	  	 Reimbursement
	  	24
	
	 ARTICLE V
 Remedies

			
	 SECTION 5.01.
	  	 Events of Default
	  	24
	 SECTION 5.02.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	26
	 SECTION 5.03.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	27
	 SECTION 5.04.
	  	 Trustee May File Proofs of Claim
	  	28
	 SECTION 5.05.
	  	 Trustee May Enforce Claim Without Possession of Securities
	  	29
	 SECTION 5.06.
	  	 Application of Money Collected
	  	29
	 SECTION 5.07.
	  	 Limitation on Suits
	  	29
	 SECTION 5.08.
	  	 Unconditional Right of Holders To Receive Principal, Premium and Interest
	  	30
	 SECTION 5.09.
	  	 Restoration of Rights and Remedies
	  	30
	 SECTION 5.10.
	  	 Rights and Remedies Cumulative
	  	30
	 SECTION 5.11.
	  	 Delay or Omission Not Waiver
	  	30
	 SECTION 5.12.
	  	 Control by Holders
	  	30
	 SECTION 5.13.
	  	 Waiver of Past Defaults
	  	31
	 SECTION 5.14.
	  	 Undertaking for Costs
	  	31
	 SECTION 5.15.
	  	 Waiver of Stay or Extension Laws
	  	32
	
	 ARTICLE VI
 The Trustee

			
	 SECTION 6.01.
	  	 Certain Duties and Responsibilities
	  	32
	 SECTION 6.02.
	  	 Notice of Defaults
	  	33
	 SECTION 6.03.
	  	 Certain Rights of Trustee
	  	33
	 SECTION 6.04.
	  	 Not Responsible for Recitals or Issuance of Securities
	  	35
	 SECTION 6.05.
	  	 May Hold Securities
	  	35
	 SECTION 6.06.
	  	 Money Held In Trust
	  	35
	 SECTION 6.07.
	  	 Compensation and Reimbursement
	  	35
	 SECTION 6.08.
	  	 Disqualification; Conflicting Interest
	  	36
	 SECTION 6.09.
	  	 Corporate Trustee Required; Eligibility
	  	36
	 SECTION 6.10.
	  	 Resignation and Removal; Appointment of Successor
	  	36
	 SECTION 6.11.
	  	 Acceptance of Appointment by Successor
	  	37
	 SECTION 6.12.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	38
	 SECTION 6.13.
	  	 Preferential Collection of Claims Against Company
	  	39

  

 -ii- 

					
	 SECTION 6.14.
	  	 Appointment of Authenticating Agent
	  	39
	 SECTION 6.15.
	  	 Trustee’s Application for Instructions from the Company
	  	40
	
	 ARTICLE VII
 Holders’ Lists and Reports by Trustee and Company

			
	 SECTION 7.01.
	  	 Company To Furnish Trustee Names and Addresses of Holders
	  	40
	 SECTION 7.02.
	  	 Preservation of Information, Communications to Holders
	  	41
	 SECTION 7.03.
	  	 Reports by Trustee
	  	42
	 SECTION 7.04.
	  	 Reports by Company
	  	42
	
	 ARTICLE VIII
 Consolidation, Merger, Conveyance, Transfer or Lease

			
	 SECTION 8.01.
	  	 Company May Consolidate, etc., Only on Certain Terms
	  	43
	 SECTION 8.02.
	  	 Successor Corporation Substituted
	  	43
	
	 ARTICLE IX
 Supplemental Indentures

			
	 SECTION 9.01.
	  	 Supplemental Indentures Without Consent of Holders
	  	44
	 SECTION 9.02.
	  	 Supplemental Indentures with Consent of Holders
	  	45
	 SECTION 9.03.
	  	 Execution of Supplemental Indentures
	  	46
	 SECTION 9.04.
	  	 Effect of Supplemental Indentures
	  	46
	 SECTION 9.05.
	  	 Conformity with Trust Indenture Act
	  	46
	 SECTION 9.06.
	  	 Reference in Securities to Supplemental Indentures
	  	46
	
	 ARTICLE X
 Covenants

			
	 SECTION 10.01.
	  	 Payment of Principal, Premium and Interest
	  	46
	 SECTION 10.02.
	  	 Maintenance of Office or Agency
	  	46
	 SECTION 10.03.
	  	 Money for Security Payments To Be Held in Trust
	  	47
	 SECTION 10.04.
	  	 Payment of Taxes and Other Claims
	  	48
	 SECTION 10.05.
	  	 Statement as to Compliance
	  	48
	 SECTION 10.06.
	  	 Waiver of Certain Covenants
	  	48
	 SECTION 10.07.
	  	 Calculation of Original Issue Discount
	  	49
	
	 ARTICLE XI
 Redemption of Securities

			
	 SECTION 11.01.
	  	 Applicability of This Article
	  	49
	 SECTION 11.02.
	  	 Election To Redeem; Notice to Trustee
	  	49
	 SECTION 11.03.
	  	 Selection of Securities To Be Redeemed
	  	49
	 SECTION 11.04.
	  	 Notice of Redemption
	  	50
	 SECTION 11.05.
	  	 Deposit of Redemption Price
	  	50
	 SECTION 11.06.
	  	 Payment of Securities Called for Redemption
	  	50

  

 -iii- 

					
	 ARTICLE XII
 Sinking Funds

			
	 SECTION 12.01.
	  	 Applicability of Article
	  	51
	 SECTION 12.02.
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	51
	 SECTION 12.03.
	  	 Redemption of Securities for Sinking Fund
	  	51
	
	 ARTICLE XIII
 Subordination

			
	 SECTION 13.01.
	  	 Agreement of Securityholders that Securities Subordinated to Extent Provided
	  	53
	 SECTION 13.02.
	  	 Rights of Holders of Senior Indebtedness.
	  	53
	 SECTION 13.03.
	  	 Securities Subordinated to Prior Payment of all Senior Indebtedness on Dissolution, Liquidation or
Reorganization
of Company
	  	53
	 SECTION 13.04.
	  	 Obligation of the Company Unconditional
	  	54
	 SECTION 13.05.
	  	 Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice
	  	55
	 SECTION 13.06.
	  	 Application by Trustee of Monies Deposited With It
	  	55
	 SECTION 13.07.
	  	 Subordination Rights not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness
	  	55
	 SECTION 13.08.
	  	 Securityholders Authorize Trustee to Effectuate Subordination of Securities
	  	55
	 SECTION 13.09.
	  	 Right of Trustee to Hold Senior Indebtedness
	  	55
	 SECTION 13.10.
	  	 Article XIII Not to Prevent Events of Default
	  	56
	 SECTION 13.11.
	  	 Subrogation
	  	56
	
	 ARTICLE XIV
 Miscellaneous

			
	 SECTION 14.01.
	  	 Miscellaneous
	  	56

  

 -iv- 

 CROSS-REFERENCE TABLE* 
  

					
	 Section of Trust Indenture Act of 1939, as
amended
	  	Section of Indenture
	 §310
	 	 (a)(1)
	  	             6.09

		 	 (a)(2)
	  	             6.09

		 	 (a)(3)
	  	             Not Applicable

		 	 (a)(4)
	  	             Not Applicable

		 	 (a)(5)
	  	             6.09

		 	 (b)
	  	             6.08,6.10

	 §311
	 	 (a)
	  	             6.13

		 	 (b)
	  	             6.13

	 §312
	 	 (a)
	  	             7.01, 7.02(a)

		 	 (b)
	  	             7.02(b)

		 	 (c)
	  	             7.02(c)

	 §313
	 	 (a)
	  	             7.03(a)

		 	 (b)
	  	             Not Applicable

		 	 (c)
	  	             7.03(a)

		 	 (d)
	  	             7.03(b)

	 §314
	 	 (a)
	  	             7.04

		 	 (b)
	  	             Not Applicable

		 	 (c)(1)
	  	             1.02

		 	 (c)(2)
	  	             1.02

		 	 (c)(3)
	  	             Not Applicable

		 	 (d)
	  	             Not Applicable

		 	 (e)
	  	             1.02

	 §315
	 	 (a)
	  	             6.01(a)

		 	 (b)
	  	             6.02

		 	 (c)
	  	             6.01 (b)

		 	 (d)
	  	             6.01(c)

		 	 (d)(1)
	  	             6.01(a), 6.01 (c)

		 	 (d)(2)
	  	             6.01(c)

		 	 (d)(3)
	  	             6.01 (c)

		 	 (e)
	  	             5.14

	 §316
	 	 (a)(last sentence)
	  	             1.41

		 	 (a)(1)(A)
	  	             5.12

		 	 (a)(1)(B)
	  	             5.02, 5.13

		 	 (a)(2)
	  	             Not Applicable

		 	 (b)
	  	             5.08

	 §317
	 	 (a)(1)
	  	             5.03

		 	 (a)(2)
	  	             5.04

		 	 (b)
	  	             10.03

	 §318
	 	 (a)
	  	             1.07

	 *
	 This cross-reference table does not constitute part of the Indenture and shall not affect the interpretation of any of its terms or provisions.

 JUNIOR SUBORDINATED INDENTURE (this “Indenture”), dated as of May 18,
2007, between NATIONWIDE FINANCIAL SERVICES, INC., a Delaware corporation (hereinafter called the “Company”), having its principal office at One Nationwide Plaza, Columbus, Ohio 43215, and WILMINGTON TRUST COMPANY, a banking corporation
duly incorporated and existing under the laws of the State of Delaware, as Trustee (hereinafter called the “Trustee”). 
 RECITALS OF THE COMPANY 
 WHEREAS the Company has duly authorized the execution and delivery of this
Indenture to provide for the issuance from time to time of its unsecured junior subordinated debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”) to be issued in one or more series, authenticated and
delivered in accordance with this Indenture. 
 WHEREAS the Company has duly authorized the execution and delivery of this
Indenture to provide, among other things, for the authentication, delivery and administration of the Securities. 
 WHEREAS
all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE: 
 For and in consideration of the premises and the purchases of the Securities by the Holders
(as defined below) thereof, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 
 ARTICLE I 
 Definitions and Other
Provisions 
 of General Application 
 SECTION 1.01. Definitions. For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
 (a) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 (b) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein,
have the meanings assigned to them therein; 
 (c) all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles
which are generally accepted at the date or time of such computation; provided that when two or more principles are so generally accepted, it shall mean that set of principles consistent with those in use by the Company; and 

 (d) the words “therein”, “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 Certain terms, used principally in Article VI, are defined in that Article. 
 “Act” when used with
respect to any Holder has the meaning specified in Section 1.04. 
 “Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to
Section 6.14 to act on behalf of the Trustee to authenticate Securities of one or more series. 
 “Board of
Directors” means either the board of directors of the Company or any committee of that board duly authorized to act hereunder. 
 “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, or such committee of the Board of Directors or officers of
the Company to which authority to act on behalf of the Board of Directors has been delegated, and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means every day except a Saturday, Sunday or a day on which banking institutions in the City of New York, New
York or the City of Wilmington, Delaware, are permitted or required by any applicable law or executive order to close. 
 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934, as amended, or if at any time after the execution of this instrument such Commission
is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 
 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Company” shall mean such successor corporation. 
 “Company Request” and
“Company Order” mean, respectively, the written request or order signed in the name of the Company by the President or a Vice President, and by the Treasurer, an Associate Treasurer, an Assistant Treasurer, the Controller, the Secretary or
an Assistant Secretary of the Company, and delivered to the Trustee. 
  

 -2- 

 “Consolidated Total Assets” means, in respect of the Company, as of any date of
determination, the amount of total assets shown on the consolidated balance sheet of the Company and its consolidated Subsidiaries contained in the most recent annual or quarterly report filed with the Commission. 
 “Corporate Trust Office” means the principal office of the Trustee in the City of Wilmington, Delaware, at which at any
particular time its corporate trust business shall be administered, which office at the date of initial execution of this Indenture is 1100 North Market Street, Wilmington, Delaware, 19890, Attention: Corporate Capital Markets. 
 “Corporation” includes corporations, associations, companies and business trusts. 
 “Defaulted Interest” has the meaning specified in Section 3.07. 
 “Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in the form of one or
more Global Securities, the Person designated as Depositary by the Company pursuant to Section 3.01 with respect to such series (or any successor thereto). 
 “Dollar” means the currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts. 
 “Event of Default” unless otherwise specified in the supplemental indenture creating a series of Securities, has the meaning
specified in Article V. 
 “Foreign Currency” means any currency issued by the government of one or more countries
other than the United States of America or by any recognized confederation or association of such governments. 
 “Global Security” means a Security in the form prescribed herein evidencing all or part of a series of Securities, issued to the Depositary or its nominee for such series, and registered in the name of such Depositary or its
nominee. 
 “Government Obligations” means, with respect to the Securities of any series, securities which are
(i) direct obligations of the United States of America or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally
guaranteed by the United States of America and which, in either case, are full faith and credit obligations of the United States of America and are not callable or redeemable at the option of the issuer thereof and shall also include a depository
receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government Obligation
held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of the Government Obligation evidenced by such depository receipt. 
  

 -3- 

 “Holder”, “Securityholder” or other similar terms mean a Person in
whose name a Security is registered in the Securities Register. 
 “Indenture” means this instrument as originally
executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of each particular series of Securities
established as contemplated by Section 3.01. 
 “Interest Payment Date” means as to each series of Securities
the Stated Maturity of an installment of interest on such Securities. 
 “Interest Rate” means the rate of interest
specified or determined as specified in each Security as being the rate of interest payable on such Security. 
 “Maturity” when used with respect to any Security means the date on which the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call
for redemption or otherwise. 
 “Notice of Default” has the meaning specified in Section 5.01(d). 

“Officers’ Certificate” means a certificate signed by the President or a Vice President, and by the Treasurer, an
Associate Treasurer, an Assistant Treasurer, the Controller, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company. 
 “Original Issue Date” means the date of issuance specified as such in each Security. 
 “Original Issue 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 5.02. 
 “Outstanding” means, as of the date of determination, all Securities theretofore
authenticated and delivered under this Indenture, except: 
 (i) securities theretofore canceled by the Trustee or delivered
to the Trustee for cancellation; 
 (ii) securities for whose payment money in the necessary amount has been theretofore
deposited with the Trustee or any Paying Agent in trust for the Holders of such Securities; and 
 (iii) securities in
substitution for or in lieu of which other Securities have been authenticated and delivered or which have been paid pursuant to Section 3.06, unless proof satisfactory to the Trustee is presented that any such Securities are held by Holders in
whose hands such Securities are valid, binding and legal obligations of the Company; 
  

 -4- 

 provided, however, that in determining whether the Holders of the requisite principal
amount of Outstanding Securities have given 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 a
Responsible Officer of the Trustee actually 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 such other obligor. Upon request of the Trustee, the Company shall
furnish to the Trustee promptly an Officers’ Certificate listing and identifying all Securities, if any, known by the Company to be owned or held by or for the account of the Company, or any other obligor on the Securities or any Affiliate of
the Company or such obligor, and, subject to the provisions of Section 6.01, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities not
listed therein are Outstanding for the purpose of any such determination. 
 “Paying Agent” means the Trustee or
any Person authorized by the Company to pay the principal of or interest on any Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of Payment” means, with respect to the Securities of any series, the place or places where the principal of (and
premium, if any) and interest on the Securities of such series are payable pursuant to Section 3.01 or 10.02. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any security
authenticated and delivered under Section 3.06 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security. 
 “Regular Record Date” for the interest payable on any Interest Payment Date with respect to the Securities of a series means,
unless otherwise provided pursuant to Section 3.01 with respect to Securities of a series, the date which is 15 calendar days next preceding such Interest Payment Date (whether or not a Business Day). 
 “Responsible Officer”, when used with respect to the Trustee, means any officer within the Corporate Trust Office of the
Trustee, including any vice president, any assistant vice president, any assistant secretary, the treasurer, any assistant treasurer or other officer of the Corporate Trust Office of the Trustee customarily performing functions similar to those
performed by any of the above designated officers and also means, with respect to a particular 

  

 -5- 

 
corporate trust matter, any other officer to whom such matter is referred because of that officer’s knowledge of and familiarity with the particular
subject. 
 “Restricted Subsidiary” means (a) so long as they are Subsidiaries of the Company, Nationwide Life
Insurance Company and Nationwide Life and Annuity Insurance Company, (b) any other present or future Subsidiary which is incorporated in any state of the United States or in the District of Columbia and which is a regulated insurance company
principally engaged in one or more of the property, casualty and life insurance businesses; provided that no such Subsidiary shall be a Restricted Subsidiary if (i) the Consolidated Total Assets of such Subsidiary are less than 20% of the
Consolidated Total Assets of the Company and its consolidated Subsidiaries (including such Subsidiary), in each case as set forth on the most recent fiscal year-end balance sheets of such Subsidiary and the Company and its consolidated Subsidiaries,
respectively, and computed in accordance with generally accepted accounting principles, or (ii) in the judgment of the Board of Directors, as evidenced by a Board Resolution, such Subsidiary is not material to the financial condition of the
Company and its consolidated Subsidiaries taken as a whole, and (c) any Subsidiary which is a successor, by merger or otherwise, to substantially all of the business or properties of any Subsidiary referred to or described in clause (a) or
(b). 
 “Securities” or “Security” means any debt securities or debt security, as the case may be,
authenticated and delivered under this Indenture. 
 “Securities Register” and “Securities Registrar”
have the respective meanings specified in Section 3.05. 
 “Senior Indebtedness” means, with respect to the
Company, the principal of and premium, if any, and interest on (a) all indebtedness of the Company, whether outstanding on the date of this Indenture or thereafter created, (i) for money borrowed by the Company (including the
Company’s outstanding 7.899% Junior Subordinated Deferrable Interest Debentures due March 1, 2037 issued by the Company to Nationwide Financial Services Capital Trust and any other similar debt securities to a subsidiary-trust of the
Company), (ii) for money borrowed by, or obligations of, others and either assumed or guaranteed, directly or indirectly, by the Company, (iii) in respect of letters of credit and acceptances issued or made by banks, or
(iv) constituting purchase money indebtedness, or indebtedness secured by property included in the property, plant and equipment accounts of the Company at the time of the acquisition of such property by the Company, for the payment of which
the Company is directly liable, and (b) all deferrals, renewals, extensions and refunding of, and amendments, modifications and supplements to, any such indebtedness. As used in the preceding sentence, the term “purchase money
indebtedness” means indebtedness evidenced by a note, debenture, bond or other instrument (whether or not secured by any lien or other security interest) issued or assumed as all or part of the consideration for the acquisition of property,
whether by purchase, merger, consolidation or otherwise, unless by its terms such indebtedness is subordinate to other indebtedness of the Company. Notwithstanding anything to the contrary in this Indenture or the Securities, Senior Indebtedness
shall not include, (i) any indebtedness of the Company which, by its terms or the terms of the instrument creating or evidencing it, is subordinate in right of payment to or pari passu with the Securities or (ii) any indebtedness of the
Company to a Subsidiary of the Company. 
  

 -6- 

 “Special Record Date” for the payment of any Defaulted Interest means a date
fixed by the Trustee pursuant to Section 3.07. 
 “Stated Maturity” when used with respect to any Security or
any installment of principal thereof or interest thereon means the date specified in such Security as the fixed date on which the principal of such Security or such installment of interest is due and payable. 
 “Subsidiary” means any corporation, partnership or entity of which, at the time of determination, the Company owns or controls
directly or indirectly more than 50% of the outstanding shares of Voting Stock. 
 “Trustee” means the Person named
as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who
is then a Trustee hereunder and, if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbb), as amended and as in effect on
the date as of this Indenture, except as provided in Section 9.05. 
 “Vice President” when used with respect
to the Company, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
 “Voting Stock” means stock of any class or classes having general voting power under ordinary circumstances to elect a majority of the board of directors, managers or trustees of the
entity in question, provided that, for the purposes hereof, stock which carries only the right to vote conditionally on the happening of an event shall not be considered Voting Stock whether or not such event shall have happened. 
 SECTION 1.02. Compliance Certificate and Opinions. Upon any application or request by the Company to the Trustee to take any
action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent (including covenants, compliance with which constitutes a condition precedent), if any,
provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent (including covenants compliance with which constitute a
condition precedent), if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular
application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect
to compliance with a condition or covenant provided for in this Indenture (other than the certificates provided pursuant to Section 10.05) shall include: 
  

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 (a) a statement that each individual signing such certificate or opinion has read such
covenant or condition and the definitions herein relating thereto; 
 (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (c)
a statement that, in the opinion of each such individual, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied
with; and 
 (d) a statement as to whether, in the opinion of each such individual, such condition or covenant has been
complied with. 
 SECTION 1.03. Forms 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 matters upon which his or her certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the
information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are
erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION 1.04. Acts of Holders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given to 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; and, except as herein otherwise expressly provided, such action shall become effective when such
instrument or instruments is or are delivered to the Trustee, and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the
“Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 6.01)

  

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conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this Section. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of
such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him or her the execution thereof. Where
such execution is by a Person acting in other than his or her individual capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority. 
 (c) The fact and date of the execution by any Person of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee
deems sufficient and in accordance with such reasonable rules as the Trustee may determine. 
 (d) The ownership of
Securities shall be proved by the Securities Register. 
 (e) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or
suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 (f) The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to take any action under this Indenture by vote or consent. Except as otherwise provided
herein, such record date shall be the later of 30 days prior to the first solicitation of such consent or vote or the date of the most recent list of Holders furnished to the Trustee pursuant to Section 7.01 prior to such solicitation. If a
record date is fixed, those persons who were Holders at such record date (or their duly designated proxies), and only those persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent previously given, whether
or not such persons continue to be Holders after such record date; provided, however, that unless such vote or consent is obtained from the Holders (or their duly designated proxies) of the requisite principal amount of Outstanding
Securities prior to the date which is the 120th day after such record date, any such vote or consent previously given shall automatically and without further action by any Holder be canceled and of no further effect. 
 SECTION 1.05. Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent, waiver or Act
of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (a) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust office; or 
 (b) the Company by the Trustee or by any Holder shall be sufficient for every purpose (except as otherwise provided in Section 5.01
hereof) hereunder if in writing and mailed, first class, postage prepaid, to the Company addressed to it at the address of its principal office 

  

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specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company. 
 SECTION 1.06. Notice to Holders; Waiver. Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Securities Register, not later than the
latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the
event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee upon its receipt thereof, but such filing shall not be a condition precedent to the validity of any action taken in reliance
upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 
 SECTION 1.07. Conflict with Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with the duties
imposed by any of Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c) thereof, such imposed duties shall control. 
 SECTION 1.08. Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction
hereof. 
 SECTION 1.09. Successors and Assigns. All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not. 
 SECTION 1.10. Separability Clause. In case any
provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 1.11. Benefits of Indenture. Nothing in this Indenture or in the Securities, express or implied, shall give to any Person,
other than the parties hereto, any Paying Agent and their successors and assigns and the Holders of the Securities, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 1.12. Governing Law. This Indenture and the Securities shall be governed by and construed in accordance with the laws of
the State of New York, except as may otherwise be required by mandatory provisions of law. 
  

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 SECTION 1.13. Nonbusiness Days. In any case where any Interest Payment Date or
Stated Maturity of any Security shall not be a Business Day, then (notwithstanding any other provision of this Indenture or the Securities) payment of interest or principal need not be made on such date, but may be made on the next succeeding
Business Day with the same force and effect as if made on the Interest Payment Date or at the Stated Maturity, except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding
Business Day, in each case with the same force and effect as if made on such Interest Payment Date, or at the Stated Maturity, and it being understood that no additional interest shall accrue in respect of such delay. 
 ARTICLE II 
 Security Forms

 SECTION 2.01. Forms Generally. The definitive Securities of each series shall be in substantially such form or
forms as shall be established pursuant to Section 3.01, 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 the Company may deem appropriate and as are not contrary to the provisions of this Indenture, or as may be required to comply with the rules of any securities exchange or of any
automated quotation or book-entry system, or to conform to usage, all as may be determined by the officers executing such Securities, as evidenced by their execution of the Securities. 
 The Securities of each series shall be issuable in registered form without coupons. The definitive Securities shall be produced in such
manner as shall be determined by the officers executing such Securities, as evidenced by their execution thereof. 
 SECTION
2.02. Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of authentication shall be in substantially the form set forth below: 
 This is one of the Securities referred to in the within-mentioned Indenture. 
  

					
	 Dated:
                        
	  	Wilmington Trust Company, as Trustee,
		
		  	Authorized Signatory By:
                                    

 ARTICLE III 
 The Securities 
 SECTION 3.01. Amount Unlimited; Issuable in Series. The
aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
  

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 The Securities may be issued in one or more series. There shall be established in or
pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of a series: 
 (a) the title or designation of the securities of such series, which shall distinguish the Securities of the series from all other
Securities; 
 (b) the limit, if any, upon the aggregate principal amount of the Securities of such series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 3.04, 3.05, 3.06, 9.06
or 11.06); provided, however, that the authorized aggregate principal amount of such series may be increased above such amount by a Board Resolution to such effect; 
 (c) the Stated Maturity or Maturities on which the principal of the Securities of such series is payable or the method of determination
thereof; 
 (d) the rate or rates, if any, at which the Securities of such series shall bear interest, the Interest Payment
Dates on which such interest shall be payable, the right, if any, of the Company to defer or extend an Interest Payment Date and the minimum length of any such deferral period, and the Regular Record Date for the interest payable on any Interest
Payment Date or the method by which any of the foregoing shall be determined; 
 (e) the place or places where the principal
of (and premium, if any) and interest on the Securities of such series shall be payable, the place or places where the Securities of such series may be presented for registration of transfer or exchange, and the place or places where notices and
demands to or upon the Company in respect of the Securities of such series may be made; 
 (f) the period or periods within
or the date or dates on which, if any, the price or prices at which and the terms and conditions upon which the Securities of such series may be redeemed, in whole or in part, at the option of the Company, pursuant to any sinking fund or otherwise;

 (g) the obligation or the right, if any, of the Company to redeem, repay or purchase the Securities of such series
pursuant to any sinking fund, amortization or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which, the currency or currencies (including currency unit or units) in which and
the other terms and conditions upon which Securities of the series shall be redeemed, repaid or purchased, in whole or in part, pursuant to such obligation; 
 (h) the denominations in which any Securities of such series shall be issuable, if other than denominations of $1,000 and any integral multiple thereof; 
 (i) if other than Dollars, the currency or currencies (including currency unit or units) in which the principal of (and premium, if any)
and interest, if any, on the Securities of the series shall be payable, or in which the Securities of the series shall be denominated; 
  

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 (j) the additions, modifications or deletions, if any, in the Events of Default or
covenants of the Company set forth herein with respect to the Securities of such series; 
 (k) if other than the principal
amount thereof, the portion of the principal amount of Securities of such series that shall be payable upon declaration of acceleration of the Maturity thereof; 
 (l) the additions or changes, if any, to this Indenture with respect to the Securities of such series as shall be necessary to permit or facilitate the issuance of the Securities of such series
in bearer form, registrable or not registrable as to principal, and with or without interest coupons; 
 (m) any index or
indices used to determine the amount of payments of principal of and premium, if any, on the Securities of such series or the manner in which such amounts will be determined; 
 (n) the issuance of a temporary Global Security representing all of the Securities of such series and exchange of such temporary Global Security for definitive Securities of such series;

 (o) whether the Securities of the series shall be issued in whole or in part in the form of one or more Global Securities
and, in such case, the Depositary for such Global Securities, which Depositary shall be a clearing agency registered under the Securities Exchange Act of 1934 as amended; 
 (p) the appointment of any Paying Agent or Agents for the Securities of such series; and 
 (q) any other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of this Indenture). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided herein or in or pursuant to such Board Resolution and set forth
in such Officers’ Certificate or in any such indenture supplemental hereto. 
 If any of the terms of the series are
established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the
Officers’ Certificate setting forth the terms of the series. 
 SECTION 3.02. Denominations. The Securities of
each series shall be in registered form without coupons and shall be issuable in denominations of $1,000 and any integral multiple thereof, unless otherwise specified as contemplated by Section 3.01. 
 SECTION 3.03. Execution, Authentication, Delivery and Dating. The Securities shall be executed on behalf of the Company by its
President or one of its Vice Presidents under its corporate seal reproduced or impressed thereon and attested by its Secretary 

  

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or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind
the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. At any time and from time to
time after the execution and delivery of this Indenture, the Company may deliver Securities executed by the Company to the Trustee for authentication. Securities may be authenticated on original issuance from time to time and delivered pursuant to
such procedures acceptable to the Trustee (“Procedures”) as may be specified from time to time by Company Order. Procedures may authorize authentication and delivery pursuant to written or electronic instructions of the Company or a duly
authorized agent. 
 Prior to the delivery of a Security in any such form to the Trustee for authentication, the Company
shall deliver to the Trustee the following: 
 (a) a Company Order requesting the Trustee’s authentication and delivery
of all or a portion of the Securities of such series, and, if less than all, setting forth procedures for such authentication; 
 (b) the Board Resolution by or pursuant to which such form of Security has been approved, and the Board Resolution, if any, by or pursuant to which the terms of the Securities of such series have been approved, and, if pursuant to a Board
Resolution, an Officers’ Certificate describing the action taken; 
 (c) an Officers’ Certificate dated the date
such certificate is delivered to the Trustee, stating that all conditions precedent provided for in this Indenture relating to the authentication and delivery of Securities in such form and with such terms have been complied with; and 
 (d) an Opinion of Counsel stating that (i) the form of such Securities has been duly authorized and approved in conformity with the
provisions of this Indenture; (ii) the terms of such Securities have been duly authorized and determined in conformity with the provisions of this Indenture, or, if such terms are to be determined pursuant to Procedures, when so determined such
terms shall have been duly authorized and determined in conformity with the provisions of this Indenture; and (iii) Securities in such form when completed by appropriate insertions and executed and delivered by the Company to the Trustee for
authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this Indenture within the authorization as to aggregate principal amount established from time to time by the Board of Directors and sold
in the manner specified in such Opinion of Counsel, will be the legal, valid and binding obligations of the Company entitled to the benefits of this Indenture, subject to applicable bankruptcy, reorganization, insolvency and similar laws generally
affecting creditors’ rights, and subject to general equitable principles except as enforcement thereof may be limited by (A) requirements that a claim with respect to any Securities denominated other than in Dollars (or a Foreign
Currency or currency unit judgment in respect of such claim) be converted into Dollars at a rate of exchange prevailing on a date 

  

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determined pursuant to applicable law or (B) governmental authority to limit, delay or prohibit the making of payments in Foreign Currencies or currency
units or payments outside the United States and subject to such other qualifications as such counsel shall conclude do not materially affect the rights of Holders of such Securities; 
 provided, however, that the Trustee shall be entitled to receive the documents referred to in clauses (b), (c) and (d) above only at or prior to the first request of the
Company to the Trustee to authenticate Securities of such series. The Trustee shall have the right to decline to authenticate and deliver any Securities under this Section if the Trustee, being advised in writing by counsel, determines within a
reasonable amount of time that such action may not lawfully be taken or if the Trustee in good faith determines within a reasonable amount of time that such action would expose the Trustee to personal liability to existing Holders. 
 Each Security shall be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in
the form provided for herein executed by the Trustee by the manual signature of one of its authorized signatories, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder. 
 SECTION 3.04. 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 denomination,
substantially of the tenor of the definitive Securities of such series in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as
evidenced by their execution of such Securities. 
 If temporary Securities of any series are issued, the Company will cause
definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities upon surrender of the temporary Securities at
the office or agency of the Company designated for that purpose without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities, 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 of authorized denominations having the same Original Issue Date and Stated Maturity and having the same terms as such temporary Securities. Until so exchanged, the
temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 
 SECTION 3.05. Registration, Transfer and Exchange. The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register in which, subject to such reasonable regulations as it may prescribe, the Company shall
provide for the registration of Securities and of transfers of Securities. Such register is herein sometimes referred to as the “Securities Register”. The Trustee is hereby appointed “Securities Registrar” for the purpose of
registering Securities and transfers of Securities as herein provided. 
  

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 Upon surrender for registration of transfer of any Security at the office or agency of
the Company designated for that purpose, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series of any authorized
denominations, of a like aggregate principal amount, of the same Original Issue Date and Stated Maturity and having the same terms. 
 At the option of the Holder, Securities may be exchanged for other Securities of the same series of any authorized denominations, of a like aggregate principal amount, of the same Original Issue Date and Stated Maturity and having the same
terms, 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. 
 All Securities issued upon any 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 transfer or exchange. 
 Every Security presented or surrendered for transfer or exchange shall (if so required by the Company or the Securities Registrar) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Securities Registrar, duly executed by the Holder thereof or his or her attorney duly authorized in writing. 
 No service charge shall be made to a Holder for any transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Securities. 
 Notwithstanding any of the foregoing, any Global Security of a series shall be exchangeable pursuant to this Section 3.05 for Securities registered in the names of Persons other than the Depositary for such
Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the
Securities Exchange Act of 1934, as amended, and a successor Depositary registered as a clearing agency under the Securities Exchange Act of 1934, as amended, is not appointed by the Company within 90 days of such notice, (ii) the Company
executes and delivers to the Trustee a Company Order that such Global Security shall be so exchangeable or (iii) there shall have occurred and be continuing an Event of Default with respect to the Securities of such series. Any Global Security
that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as such Depositary shall direct. 
 Notwithstanding any other provision in this Indenture, a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary or by a nominee
of such Depositary to such Depositary or another nominee of such Depositary. 
 Neither the Company nor the Trustee shall be
required, pursuant to the provisions of this Section, (a) to issue, transfer or exchange any Security of any series during a period 

  

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beginning at the opening of 15 business days before the day of selection for redemption of Securities pursuant to Article XI and ending at the close of
business on the day of mailing of notice of redemption or (b) to transfer or exchange any Security so selected for redemption in whole or in part, except, in the case of any Security to be redeemed in part, any portion thereof not to be
redeemed. 
 SECTION 3.06. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered
to the Trustee together with such security or indemnity as may be required by the Company or the Trustee to save each of them harmless, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of
the same issue and series of like tenor and principal amount, having the same Original Issue Date and Stated Maturity and bearing the same Interest Rate as such mutilated Security, and bearing a number not contemporaneously outstanding. 

If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of
any Security and (ii) such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a Protected Purchaser, as such term
is used in Section 8-405(a)(1) of the UCC as in effect in the State of Delaware (1994 Rev), the issuing Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen
Security, a new Security of the same issue and series of like tenor and principal amount, having the same Original Issue Date and Stated Maturity and bearing the same Interest Rate as such destroyed, lost or stolen Security, and bearing a number not
contemporaneously outstanding. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
the Trustee) connected therewith. 
 Every new Security issued pursuant to this Section in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities 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. 
 SECTION 3.07. Payment of Interest; Interest Rights Preserved. Interest on any Security of any series 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 

  

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Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest in respect of Securities of such series, except
that, unless otherwise provided in the Securities of such series, interest payable on the Stated Maturity of a Security shall be paid to the Person to whom principal is paid. The initial payment of interest on any Security of any series which is
issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Security or in the Board Resolution pursuant to Section 3.01 with respect to the related series of Securities. 
 Any interest on any Security which is payable, but is not timely paid or duly provided for, on any Interest Payment Date for Securities
of such series (herein called “Defaulted Interest”), shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the
Company, at its election in each case, as provided in clause (a) or (b) below. 
 (a) The Company may elect to make
payment of any Defaulted Interest to the Persons in whose names the Securities of such series in respect of which interest is in default (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date
for the payment of such Defaulted Interest, which shall be fixed in the following manner: The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date of the proposed payment,
and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior
to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment
of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall
promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first class, postage
prepaid, to each Holder of a Security of such series at the address of such Holder as it appears in the Securities Register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the name and at the expense
of the Company, cause a similar notice to be published at least once in a newspaper, customarily published in the English language on each Business Day and of general circulation in the City of Wilmington, Delaware, but such publication shall not be
a condition precedent to the establishment of such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered on such Special Record Date and shall no longer be payable pursuant to the following clause (b). 
 (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of the series in respect of which interest is in default may be listed and, upon such notice as may be required by such exchange (or by the Trustee if the Securities are not listed), if, 

  

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after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such payment shall be deemed practicable by the Trustee.

 Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon transfer of or in
exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 SECTION 3.08. Persons Deemed Owners. The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Security is registered as the owner of such
Security for the purpose of receiving payment of principal of and (subject to Section 3.07) interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the contrary. 
 SECTION 3.09. Cancellation. All
Securities surrendered for payment, redemption, transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and Securities surrendered directly to the Trustee for any such
purpose shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all
Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled
Securities shall be destroyed or otherwise disposed of by the Trustee in accordance with its usual practices and the Trustee shall, upon request, deliver to the Company a certificate of such destruction. 
 SECTION 3.10. Computation of Interest. Except as otherwise specified as contemplated by Section 3.01 for Securities of any
series, interest on the Securities of each series shall be computed on the basis of a 360 day year consisting of twelve 30-day months and, with respect to any period less than a full calendar month, on the basis of the actual number of days elapsed
during such period in relation to the deemed 30 days of such month. 
 SECTION 3.11. CUSIP Numbers. The Company in
issuing the Securities may use “CUSIP” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and
any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the CUSIP numbers. 
 ARTICLE IV 
 Satisfaction and Discharge 
 SECTION 4.01. Satisfaction and Discharge of Indenture. (1) This Indenture shall cease to be of further effect (except as to
(i) any surviving rights of transfer, substitution and exchange of Securities, (ii) rights hereunder of Holders to receive payments of principal of 

  

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(and premium, if any) and interest on the Securities and other rights, duties and obligations of the Holders as beneficiaries hereof with respect to the
amounts, if any, so deposited with the Trustee and (iii) the rights and obligations of the Trustee hereunder), and the Trustee, upon a Company Request specifying such action to be taken and at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when (a) either (i) all Securities theretofore authenticated and delivered (other than (A) Securities which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 3.06 and (B) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from
such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or (ii) all such Securities not theretofore delivered to the Trustee for cancellation (x) have become due and payable, or (y) will
become due and payable at their Stated Maturity (or scheduled for redemption) within one year of the date of deposit, and the Company, in the case of (x) or (y) above, has deposited or caused to be deposited with the Trustee as trust funds
in trust for such purpose an amount in the currency or currencies in which the Securities of such series are payable sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal (and premium, if any) and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity; (b) the Company has paid or caused to be paid all other sums
payable hereunder by the Company (including any amounts due to the Trustee in respect of its compensation and expense reimbursement); and (c) the Company has delivered to the Trustee a Company Request specifying such action to be taken and 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. 
 (2) Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under
Section 6.07 and, if money shall have been deposited with the Trustee pursuant to this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive. 
 SECTION 4.02. Application of Trust Money. Subject to the provisions of the last paragraph of Section 10.03, all money
deposited with the Trustee pursuant to Section 4.01 or money or Government Obligations deposited with the Trustee pursuant to Section 4.03, or received by the Trustee in respect of Government Obligations deposited with the Trustee pursuant
to Section 4.03, shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money or obligations have been deposited with or received by the Trustee; provided,
however, such moneys need not be segregated from other funds except to the extent required by law. 
 SECTION 4.03.
Applicability of Defeasance Provisions; Company’s Option to Effect Defeasance or Covenant Defeasance. If pursuant to Section 3.01 provision is made for either both of (i) defeasance of the Securities of any series under
Section 4.04 or (ii) covenant defeasance of the Securities of any series under Section 4.05, then the provisions of such Section or Sections, as the case may be, together with the provisions of Sections 4.06 through 4.09 

  

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inclusive, with such modifications thereto as may be specified pursuant to Section 3.01 with respect to any Securities, shall be applicable to such
Securities, and the Company may at its option by or pursuant to Board Resolution, at any time, with respect to such Securities, elect to have Section 4.04 (if applicable) or Section 4.05 (if applicable) be applied to such Outstanding
Securities upon compliance with the conditions set forth below in this Article IV. 
 SECTION 4.04. Defeasance and
Discharge. Upon the Company’s exercise of the option specified in Section 4.03 applicable to this Section with respect to the Securities of any series, the Company shall be deemed to have been discharged from its obligations with
respect to such Securities on and after the date the conditions set forth in Section 4.06 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 such Securities which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 4.07 and the other Sections of this Indenture referred to in clause (ii) of this
Section, and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall on a Company Order execute proper instruments
acknowledging the same), except the following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of such Securities to receive, solely from the trust funds described in Section 4.06(a) and as
more fully set forth in such Section, payments in respect of the principal of, premium, if any, and interest, if any, on such Securities when such payments are due; (ii) the Company’s obligations with respect to such Securities under
Sections 3.05, 3.06, 10.02 and 10.03 and with respect to the payment of additional amounts, if any, payable with respect to such Securities as specified pursuant to Section 3.01; (iii) the rights, powers, trusts, duties and immunities
of the Trustee hereunder and (iv) this Article IV. Subject to compliance with this Article IV, the Company may exercise its option under this Section notwithstanding the prior exercise of its option under Section 4.05 with
respect to such Securities. Following a defeasance, payment of such Securities may not be accelerated because of an Event of Default. 
 SECTION 4.05. Covenant Defeasance. Upon the Company’s exercise of the option specified in Section 4.03 applicable to this Section with respect to any Securities of any series, the Company shall be
released from its obligations under Section 8.01 and, if specified pursuant to Section 3.01, its obligations under any other covenant with respect to such Securities on and after the date the conditions set forth in Section 4.06 are
satisfied (hereinafter, “covenant defeasance”), and such 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 of
any thereof) in connection with Section 8.01 or such other covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such
Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or such other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of
Default under Section 5.01(d) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. 
  

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 SECTION 4.06. Conditions to Defeasance or Covenant Defeasance. The following shall
be the conditions to application of Section 4.04 or Section 4.05 to any Securities of a series: 
 (a) The Company
shall have deposited or caused to be deposited irrevocably with the Trustee (or another Trustee satisfying the requirements of Section 6.09 who shall agree to comply with, and shall be entitled to the benefits of, the provisions of
Sections 4.03 through 4.09 inclusive and the last paragraph of Section 10.03 applicable to the Trustee, for purposes of such Sections also a “Trustee”) as trust funds in trust for the purpose of making the payments referred to in
clauses (X) and (Y) of this Section 4.06(a), specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, with instructions to the Trustee as to the application thereof, (i) money
in an amount (in such currency, currencies or currency unit or units in which such Securities are then specified as payable at maturity), or (ii) if Securities of such Series are not subject to repayment at the option of Holders, Government
Obligations which through the payment of interest and principal in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment referred to in clause (X) or (Y) of this
Section 4.06(a), money in an amount or (iii) a combination thereof in an amount sufficient, without reinvestment, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee to pay and discharge, (X) the principal of, premium, if any, and interest, if any, on Securities on the maturity (or redemption) of
such principal or installment of principal or interest and (Y) any mandatory sinking fund payments applicable to such Securities on the day on which such payments are due and payable in accordance with the terms of this Indenture and such
Securities. Before such a deposit the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or dates in accordance with Article XI which shall be given effect in applying the foregoing.

 (b) Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default or Event
of Default under, this Indenture or result in a breach or violation of, or constitute a default under, any other material agreement or instrument to which the Issuer is a party or by which it is bound. 
 (c) In the case of an election under Section 4.04, the Company shall have delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the
applicable Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such
defeasance and will be subject to Federal income tax on the same amounts and in the same manner and at the same times, as would have been the case if such deposit, defeasance and discharge had not occurred. 
 (d) In the case of an election under Section 4.05, the Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that the Holders of such Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will be subject to Federal income tax on the same amounts, in the same 

  

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manner and at the same times as would have been the case if such covenant defeasance had not occurred. 
 (e) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance under Section 4.04 or the covenant defeasance under Section 4.05 (as the case may be), including those contained in this Section 4.06 other than the 90 day period specified in
Section 4.06(g), have been complied with. 
 (f) This Company shall have delivered to the Trustee an Officer’s
Certificate to the effect that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 
 (g) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or any
other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 5.01(e) and (f), at any time on or prior to the 90th day after the date of such deposit (it being
understood that this condition shall not be deemed satisfied until after such 90th day). 
 (h) Such defeasance or covenant
defeasance shall not result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act of 1940 unless such trust shall be registered under such Act or exempt from registration
thereunder. 
 (i) Such defeasance or covenant defeasance shall be effected in compliance with any additional or substitute
terms, conditions or limitations which may be imposed on the Company in connection therewith as contemplated by Section 3.01. 
 SECTION 4.07. Deposited Money and Government Obligations to be Held in Trust. Subject to the provisions of the last paragraph of Section 10.03, all money and Government Obligations (or other property as may be provided pursuant
to Section 3.01) (including the proceeds thereof) deposited with the Trustee pursuant to Section 4.06 in respect of any Securities of any series shall be held in trust and applied by the Trustee, in accordance with the provisions of such
Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own paying agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due
thereon in respect of principal, premium, if any, and interest, if any, but such money need not be segregated from other funds except to the extent required by law. 
 SECTION 4.08. Repayment to Company. The Trustee (or any paying agent) shall promptly pay to the Company upon Company Order any excess money or securities held by them at any time.

 SECTION 4.09. Indemnity For Government Obligations. The Company shall pay, and shall indemnify the Trustee against,
any tax, fee or other charge imposed on or assessed against Government Obligations deposited pursuant to this Article IV or the principal and interest and any other amount received on such Government Obligations. 
  

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 SECTION 4.10. Reimbursement. If the Trustee or the paying agent is unable to apply
any money in accordance with this Article IV with respect to any Securities by reason of any order or judgment of any court or government authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this
Indenture and such Securities from which the Company has been discharged or released pursuant to Section 4.04 or 4.05 shall be revived and reinstated as though no deposit had occurred pursuant to this Article IV with respect to such Securities,
until such time as the Trustee or paying agent is permitted to apply all money held in trust pursuant to Section 4.07 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of
principal of or any premium or interest on any such Security following such reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in
trust. 
 ARTICLE V 
 Remedies 
 SECTION 5.01. Events of Default. “Event of Default”, wherever used herein with
respect to the Securities of any series, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation
of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (a) default in the payment of all or any part of the principal of (or premium, if any, on) any Security of that series when due, either at its Maturity (or upon any redemption), by declaration or otherwise;

 (b) default in the payment of any interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; provided, however that if the Company is permitted by the terms of the Securities of the applicable series to defer the payment in question, the date on which such payment is due and payable shall
be the date on which the Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms of the Securities of that series; 
 (c) default in the payment of any sinking fund installment as and when the same shall become due and payable by the terms of the Securities of such series; 
 (d) failure on the part of the Company duly to observe or perform any other of the covenants or agreements on the part of the Company in
the Securities of such series (other than a covenant or agreement in respect of the Securities of such series a default in the performance or breach of which is elsewhere in this Section specifically dealt with) or contained in this Indenture
(other than a covenant or agreement included in this Indenture solely for the benefit of a series of Securities other than such series) for a period of 60 days after the date on which written notice specifying such failure, stating that such notice
is a “Notice of Default” hereunder and demanding that the Company remedy the same, shall have been given by registered or certified mail, return receipt requested, to the Company by the Trustee, or to the 

  

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Company and the Trustee by the holders of at least 25% in aggregate principal amount of the Outstanding Securities of all series affected thereby; or

 (e) the entry of a decree or order by a court having jurisdiction in the premises adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law, or
appointing a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property or ordering the winding up or liquidation of its affairs, and the continuance of any such decree
or order unstayed and in effect for a period of 60 consecutive days; 
 (f) the institution by the Company of proceedings to
be adjudicated a bankrupt or insolvent, or the consent by it to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal
or State bankruptcy, insolvency, reorganization or other similar law, or the consent by it to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company
or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due and its willingness to be adjudicated a
bankrupt, or the taking of corporate action by the Company in furtherance of any such action; 
 (g) an event of default, as
defined in any one or more mortgages, indentures, instruments, bonds, debentures, notes or other similar instruments under which there may be issued, or by which there may be secured or evidenced, any indebtedness (other than the Securities of such
series or nonrecourse obligations) (“Indebtedness”) in excess of $50,000,000 for money borrowed by the Company or a Restricted Subsidiary shall occur, if such event of default shall result in the acceleration of such Indebtedness prior to
its expressed maturity unless such Indebtedness is discharged or such acceleration is cured, waived, rescinded or annulled within 10 days after written notice thereof shall have been given by registered or certified mail, return receipt requested,
to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities (treated as one class) which notice shall state that it is a “Notice of Default”
hereunder; or 
 (h) any other Event of Default with respect to that Series, including an Event of Default provided in the
supplemental indenture under which such series of Securities is issued or in the form of Security for such series; 
 provided, that if any
such default or acceleration referred to in clause (g) above shall cease or be cured, waived, rescinded or annulled, then the Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon cured. 
 If an Event of Default described in clauses (a), (b), (c), (d) or (h) (if the Event of Default under clause (d) or (h), as
the case may be, is with respect to less than all series of Securities then Outstanding) occurs and is continuing, then, and in each and every such case, except for any series of Securities the principal of which shall have already become due and

  

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payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of each such affected series then Outstanding
hereunder (treated as a single class) by notice in writing to the Company (and to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of any such affected series are Original Issue Discount Securities,
such portion of the principal amount as may be specified in the terms of such series) of all Securities of all such affected series, and the interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration, the same
shall become immediately due and payable. If an Event of Default described in clause (d) or (h) (if the Event of Default under clause (d) or (h), as the case may be, is with respect to all series of Securities then Outstanding) or
(g) occurs and is continuing, then and in each and every such case, unless the principal of all the Securities shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of
all the Securities then Outstanding hereunder (treated as one class), by notice in writing to the Company (and to the Trustee if given by Securityholders), may declare the entire principal (or, if any Securities are Original Issue Discount
Securities, such portion of the principal as may be specified in the terms thereof) of all the Securities then Outstanding, and interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become
immediately due and payable. If an Event of Default specified in clause (e) or (f) occurs, all unpaid principal (or, if any Securities are Original Issue Discount Securities, such portion of the principal as may be specified in the terms
thereof) of all the Securities then Outstanding, and interest accrued thereon, if any, shall be due and payable immediately, without any declaration or other act on the part of the Trustee or any Securityholder. 
 SECTION 5.02. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series
at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if the Securities of
that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series) of all the Securities of that series to be due and payable immediately, by a notice in writing to the Company
(and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. 
 At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its
consequences if: 
 (a) the Company has paid or deposited with the Trustee a sum sufficient to pay: 
 (i) all overdue installments of interest on all Securities of that series; 
 (ii) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such
declaration of acceleration and interest thereon at the rate borne by the Securities; 
  

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 (iii) to the extent that payment of such interest is lawful, interest
upon overdue installments of interest at the rate borne by the Securities; 
 (iv) sums paid or advanced by
the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (b) all Events of Default with respect to Securities of that series, other than the nonpayment of the principal of Securities of that series which has become due solely by such acceleration, have been cured or waived
as provided in Section 5.13. 
 No such rescission shall affect any subsequent default or impair any right consequent
thereon. Upon receipt by the Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be
established for determining Holders of Outstanding Securities of such series entitled to join in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their
duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date; provided that, unless such declaration of acceleration, or rescission and annulment, as the
case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 60 days after such record date, such notice of declaration of acceleration, or rescission and annulment, as the
case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 60-day period, a new
written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date
shall be established pursuant to the provisions of this Section 5.02. 
 SECTION 5.03. Collection of Indebtedness and
Suits for Enforcement by Trustee. The Company covenants that if: 
 (a) default is made in the payment of any installment of
interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days; or 
 (b) default is made in the payment of the principal of (and premium, if any, on) any Security at the Maturity thereof; the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole
amount then due and payable on such Securities for principal, including any sinking fund payment or analogous obligations (and premium, if any) and interest, including, to the extent that payment of such interest shall be lawful, interest on any
overdue principal (and premium if any) and on any overdue installments of interest at the rate borne by the Securities; and, in addition thereto, all amounts owing the Trustee under Section 6.07. 
  

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 If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any
other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement
of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 5.04. 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; 
 (a) the Trustee (irrespective of whether the principal of the Securities of any series 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 (and premium, if any) or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (i) to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in
respect to the Securities and to file such other papers or documents as may be necessary or advisable and to take any and all actions as are authorized under the Trust Indenture Act in order to have the claims of the Holders and any predecessor to
the Trustee under Section 6.07 and of the Holders allowed in any such judicial proceedings; 
 (ii) and
in particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same in accordance with Section 5.06; and 
 (b) any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding is
hereby authorized by each Holder to make such payments to the Trustee for distribution in accordance with Section 5.06, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due to it and any predecessor Trustee under Section 6.07. 
 Nothing herein contained shall be deemed
to authorize or require the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder 

  

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thereof, or to authorize or require the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 5.05. Trustee May Enforce Claim Without Possession of Securities. All rights of action and claims under this Indenture or
the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own
name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of all the amounts owing the Trustee and any predecessor Trustee under Section 6.07, its agents and counsel, be for the ratable benefit of
the Holders of the Securities in respect of which such judgment has been recovered. 
 SECTION 5.06. Application of Money
Collected. Any money or property collected or to be applied by the Trustee with respect to a series of Securities pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the
distribution of such money or property on account of principal (or premium, if any) or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

first, to the payment of all amounts due the Trustee and any predecessor Trustee under Section 6.07; 
 second, to the payment of the amounts then due and unpaid upon such series of Securities for principal (and premium, if any) and
interest, 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 series of Securities for principal (and premium, if any)
and interest, respectively; and 
 third, the balance, if any, to the Person or Persons entitled thereto. 
 SECTION 5.07. Limitation on Suits. No Holder of any Securities of any series shall have any right to institute, against the
Company, any proceeding, judicial or otherwise, with respect to this Indenture or for the appointment of a receiver, assignee, trustee, liquidator, sequestrator (or other similar official) or for any other remedy hereunder, unless: 
 (a) such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that
series; 
 (b) the Holders of not less than 25% in principal amount of the Outstanding Securities of each affected series
(treated as one class) shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (c) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding;
and 
  

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 (e) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of each affected series (treated as one class); 
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the
rights of any other Holders of Securities, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable
benefit of all such Holders. 
 SECTION 5.08. Unconditional Right of Holders To Receive Principal, Premium
and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if any) and (subject to
Section 3.07) interest on such Security on the respective Stated Maturities expressed in such Security and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

 SECTION 5.09. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Company, the Trustee and the
Holders shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such
proceeding had been instituted. 
 SECTION 5.10. Rights and Remedies Cumulative. Except as otherwise provided in the
last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 SECTION 5.11. Delay or Omission Not Waiver.
Except as otherwise provided in the last paragraph of Section 3.06, no delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or
constitute a waiver of any such Event of Default or an acquiescence therein. 
 Every right and remedy given by this Article
or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 5.12. Control by Holders. The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising 

  

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any trust or power conferred on the Trustee, with respect to the Securities of such series; provided that: 
 (a) such direction shall not be in conflict with any rule of law or with this Indenture; 
 (b) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 
 (c) subject to the provisions of Section 6.01, the Trustee shall have the right to decline to follow such direction if the Trustee
in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would be unjustly prejudicial to the Holders not joining in any such direction or would involve the Trustee in personal liability.

 Upon receipt by the Trustee of any written notice directing the time, method or place of conducting any such proceeding or
exercising any such trust or power, with respect to Securities of a series all or part of which is represented by a Global Security, a record date shall be established for determining Holders of Outstanding Securities of such series entitled to join
in such notice, which record date shall be at the close of business on the day the Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice,
whether or not such Holders remain Holders after such record date; provided that, unless the Holders of a majority in principal amount of the Outstanding Securities of such series shall have joined in such notice prior to the day which is 90 days
after such record date, such notice shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such
90-day period, a new notice identical to a notice which has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.12. 
 SECTION 5.13. Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the Outstanding Securities
of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default: 
 (a) in the payment of the principal of (or premium, if any) or interest on any Security of such series, or 
 (b) in respect of a covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder
of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
 SECTION 5.14. Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Security by his or her acceptance
thereof shall be deemed to have agreed, 

  

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that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee
for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of
the principal of (or premium, if any) or interest on any Security on or after the respective Stated Maturities expressed in such Security (or in the case of redemption, on or after the date of such redemption). 
 SECTION 5.15. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it will not
at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee,
but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VI 
 The Trustee 
 SECTION
6.01. Certain Duties and Responsibilities. (a) Except during the continuance of an Event of Default: 
 (i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (ii) 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; but in the case of any such certificates or opinions which by any provisions hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 (b) In case an Event of Default has occurred and is continuing,
the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his or her own
affairs. 
  

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 (c) No provision of this Indenture shall be construed to relieve the Trustee from
liability for its own negligent action, its own negligent failure to act, or its own willful misconduct except that: 
 (i) this Subsection shall not be construed to limit the effect of Subsection (a) of this Section; 
 (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of Holders pursuant to Section 5.12 relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under
this Indenture with respect to the Securities of such series. 
 (d) No provision of this Indenture shall require the Trustee
to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 
 (e) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject
to the provisions of this Section. 
 SECTION 6.02. Notice of Defaults. Within 60 days after actual knowledge of the
occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Securities Register, notice of such default
hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security of such
series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the
withholding of such notice is in the interests of the Holders of Securities of such series; and provided further that, in the case of any default of the character specified in Section 5.01(d), no such notice to Holders of Securities of such
series shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with
respect to Securities of such series. 
 SECTION 6.03. Certain Rights of Trustee. Subject to the provisions of
Section 6.01: 
 (a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon
any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other evidence of indebtedness, 

  

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Security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and
any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 
 (c) whenever in the
administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in
the absence of bad faith on its part, rely upon an Officers’ Certificate; 
 (d) the Trustee may consult with counsel of
its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (e) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such
request or direction; 
 (f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, indenture, Security or other paper or document, but the Trustee in its discretion may make such inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney, at the sole cost of
the Company, and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of
any agent or attorney appointed with due care by it hereunder; 
 (h) the Trustee shall not be liable for any action taken,
suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; and 
 (i) 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. 
  

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 SECTION 6.04. Not Responsible for Recitals or Issuance of Securities. The recitals
contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations
as to the validity or sufficiency of this Indenture or of the Securities. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of the Securities or the proceeds thereof. 
 SECTION 6.05. May Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent, Securities Registrar or any other
agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 6.08 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee,
Paying Agent, Securities Registrar or such other agent. 
 SECTION 6.06. Money Held In Trust. Money held by the
Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the
Company. 
 SECTION 6.07. Compensation and Reimbursement. The Company agrees: 
 (a) to pay to the Trustee from time to time such compensation as shall be agreed to in writing between the Company and the Trustee for all
services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (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 and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
 (c) to indemnify each of the Trustee and any Predecessor Trustee and their respective officers, directors, stockholders, employees and
agents for, and to hold each of them harmless against, any loss, liability or expense (including the reasonable compensation and the expenses and disbursements of its agents and counsel) to the extent incurred without negligence or bad faith,
arising out of or in connection with the acceptance or administration of this trust or the performance of its duties hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder. 
 When the Trustee incurs expenses or renders services after an Event
of Default specified in Section 5.01(e) or (f) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under the Bankruptcy Reform Act of 1978 or a successor statute. 
 The provisions of this Section 6.07 shall survive the termination of this Indenture. 
  

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 SECTION 6.08. Disqualification; Conflicting Interest. The Trustee for the
Securities of any series issued hereunder shall be subject to the provisions of Section 3.10(b) of the Trust Indenture Act. Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the second to
last paragraph of Section 3.10(b) of the Trust Indenture Act. 
 SECTION 6.09. Corporate Trustee Required;
Eligibility. There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America or of any state, territory or the District of Columbia, authorized under such
laws to exercise corporate trust powers and subject to supervision or examination by Federal, state, territorial or District of Columbia authority, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination
by Federal or state authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then, for the purpose of this Section, the combined
capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions
of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. Neither the Company nor any Person directly or indirectly controlling, controlled by or under common control with the Company shall
serve as Trustee for the Securities of any series issued hereunder. 
 SECTION 6.10. Resignation and Removal; Appointment
of Successor. (a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee under Section 6.11.

 (b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice
thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (c) The Trustee may
be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time: 
 (i) the Trustee shall fail to comply with Section 6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months; or 
 (ii) the Trustee shall cease to be eligible under Section 6.09 and shall fail to resign after written request
therefor by the Company or by any such Holder; or 
  

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 (iii) the Trustee shall become incapable of acting or shall be adjudged a
bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation;

 then, in any such case, (A) the Company by Board Resolution may remove the Trustee, or (B) subject to Section 5.14, any
Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee. 
 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur
in the office of Trustee for any cause with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee with respect to the Securities of that or those series. If, within one year
after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall not have been appointed by the Company, a successor Trustee shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, and the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the
successor Trustee with respect to the Securities of such series and supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the
Holders and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Security for at least six months may, subject to Section 5.14, on behalf of himself or herself and all others similarly
situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any
series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Securities of such series as their names and addresses appear in the Securities Register. Each notice shall include the name of the successor
Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 SECTION 6.11.
Acceptance of Appointment by Successor. (a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee and the resigning or removed Trustee shall be therefrom deemed released and discharged of the trusts and duties hereunder; but, on the request of the Company or the successor
Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee hereunder. 
  

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 (b) 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 (i) 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, (ii) 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 (iii) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that
nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder
administered by any other such Trustee and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee,
without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts, and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates. 
 (c) Upon request of any such successor
Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may
be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee
shall be qualified and eligible under this Article. 
 SECTION 6.12. Merger, Conversion, Consolidation or Succession to
Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities so authenticated, and in case any Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any
predecessor Trustee or in the name of such successor Trustee, and in all cases 

  

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the certificate of authentication shall have the full force which it is provided anywhere in the Securities or in this Indenture that the certificate of the
Trustee shall have. 
 SECTION 6.13. Preferential Collection of Claims Against Company. If and when the Trustee shall
be or become a creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor).

 SECTION 6.14. Appointment of Authenticating Agent. The Trustee may appoint an Authenticating Agent or Agents with
respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and
delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, or of any state, territory or the District of Columbia, authorized under such laws to act as
Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or state authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its
most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect
specified in this Section. 
 Any corporation into which an Authenticating Agent may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of an
Authenticating Agent shall be the successor Authenticating Agent hereunder, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and
to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give notice of
such appointment in the manner provided in Section 1.06 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall
become vested with all the rights, powers and duties of its predecessor 

  

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hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the
provision of this Section. 
 The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section. 
 If an appointment with respect to one or more series is made pursuant to
this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 
 This is one of the Securities referred to in the within mentioned Indenture. 
 Dated: 
 , as
Trustee,             
  
  

			
	 As Authenticating Agent
	 	 By:                                     
           

		
	 Authorized Signatory
	 	 By:                                      
          

 SECTION 6.15. Trustee’s Application for Instructions from the
Company. Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after
which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in
such application (which date shall not be less than five Business Days after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking
any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 
 ARTICLE VII 
 Holders’ Lists and
Reports by Trustee and Company 
 SECTION 7.01. Company To Furnish Trustee Names and Addresses of Holders. The
Company will furnish or cause to be furnished to the Trustee: 
 (a) semiannually, not more than 15 days after June 1 and
December 1, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of such June 1 and December 1; and 
  

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 (b) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 excluding from any such list names and addresses received by the Trustee in its capacity as Securities Registrar. 
 SECTION 7.02. Preservation of Information, Communications to Holders. (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Securities Registrar. The Trustee may destroy any list furnished to it as provided in
Section 7.01 upon receipt of a new list so furnished. 
 (b) If three or more Holders of Securities of the same series
(herein referred to as “applicants”) apply in writing to the Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Security of such series for a period of at least six months preceding the date of such
application, and such application states that the applicants’ desire to communicate with other Holders of such series with respect to their rights under this Indenture or under the Securities of such series and is accompanied by a copy of the
form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five business days after the receipt of such application, at its election, either 
 (i) afford such applicants access to the information with respect to the Holders of such series preserved at the time by
the Trustee in accordance with paragraph (a) of this Section, or 
 (ii) inform such applicants as to the
approximate number of Holders of such series whose names and addresses appear in the information preserved at the time by the Trustee in accordance with paragraph (a) of this Section, and as to the approximate cost of mailing to such Holders
the form of proxy or other communication, if any, specified in such application. 
 If the Trustee shall elect
not to afford such applicants access to such information, the Trustee shall, upon the written request of such applicants, mail to each Holder of such series whose name and address appear in the information preserved at the time by the Trustee in
accordance with paragraph (a) of this Section a copy of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or
provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material to be mailed, a written
statement to the effect that, in the opinion of the Trustee, such mailing would be contrary to the best interest of the Holders of such series or would be in violation of applicable law. Such written statement shall specify the basis of such
opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one 

  

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or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall
enter an order so declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or
duty to such applicants respecting their application. 
 (c) Every Holder of Securities, by receiving and holding the same,
agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of information as to the names and addresses of the Holders made pursuant to the
Trust Indenture Act. 
 SECTION 7.03. Reports by Trustee. (a) The Trustee shall transmit to Holders such reports
concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act, at the times and in the manner provided pursuant thereto. 
 (b) Within 60 days after May 15 of each year commencing with the year 1999, the Trustee shall transmit by mail to all Holders of Securities as provided in Section 313(c) of the Trust
Indenture Act, a brief report dated as of May 15, if required by and in compliance with Section 313(a) of the Trust Indenture Act. 
 (c) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which the Securities are listed and also with the Commission. The Company will
promptly notify the Trustee whenever the Securities are listed on any stock exchange. 
 SECTION 7.04. Reports by
Company. The Company shall file with the Trustee and with the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and
in the manner provided in the Trust Indenture Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as
amended, shall be filed with the Trustee within 15 days after the same is required to be filed with the Commission. Notwithstanding that the Company may not be required to remain subject to the reporting requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, as amended, the Company shall continue to file with the Commission and provide the Trustee and Holders with the annual reports and the information, documents and other reports which are specified in Sections 13
and 15(d) of the Securities Exchange Act of 1934, as amended. The Company also shall comply with the other provisions of Trust Indenture Act Section 3.14(a). 
 Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute 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).

  

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 ARTICLE VIII 
 Consolidation, Merger, Conveyance, Transfer or Lease 
 SECTION 8.01. Company May
Consolidate, etc., Only on Certain Terms. The Company shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets in entirety or substantially as an entirety to any Person, and no Person
shall consolidate with or merge into the Company or convey, sell, transfer or lease its properties and assets in entirety or substantially as an entirety to the Company, unless: 
 (a) in case the Company shall consolidate with or merge into another corporation or convey, sell, transfer or lease its properties and assets in entirety or substantially as an entirety to any
Person, the corporation formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance, sale or transfer, or which leases, the properties and assets of the Company in entirety or substantially as an
entirety shall be a corporation organized and existing under the laws of the United States of America or any State or the District of Columbia, and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee,
in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or
observed; 
 (b) immediately after giving effect to such transaction, no Event of Default, and no event which, after notice
or lapse of time, or both, would become an Event of Default, shall have happened and be continuing; and 
 (c) the Company
has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance, sale, transfer or lease and any such supplemental indenture complies with this Article and that all
conditions precedent herein provided for relating to such transaction have been complied with; and the Trustee, subject to Section 6.01, may rely upon such Officers’ Certificate and Opinion of Counsel as conclusive evidence that such
transaction complies with this Section 8.01. 
 SECTION 8.02. Successor Corporation Substituted. Upon any
consolidation or merger by the Company with or into any other corporation, or any conveyance, sale, transfer or lease by the Company of its properties and assets in entirety or substantially as an entirety to any Person in accordance with
Section 8.01, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, sale, 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 corporation had been named as the Company herein; and in the event of any such conveyance, sale, transfer or lease the Company shall be discharged from all
obligations and covenants under the Indenture and the Securities and may be dissolved and liquidated. 
 Such successor
corporation may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and,
upon the order of such successor corporation instead of the Company and subject to all the terms, 

  

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conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Securities which previously shall have been
signed and delivered by the officers of the Company to the Trustee for authentication pursuant to such provisions and any Securities which such successor corporation thereafter shall cause to be signed and delivered to the Trustee on its behalf for
the purpose pursuant to such provisions. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture
as though all of such Securities had been issued at the date of the execution hereof. 
 In case of any such consolidation,
merger, sale, conveyance or lease, such changes in phraseology and form may be made in the Securities thereafter to be issued as may be appropriate. 
 ARTICLE IX 
 Supplemental Indentures 
 SECTION 9.01. Supplemental Indentures Without Consent of Holders. Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and
from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (a) to evidence the succession of another corporation to the Company, and the assumption by any such successor corporation of the covenants of the Company herein and in the Securities contained; 
 (b) to provide for the issuance under this Indenture of Securities in bearer form (including securities registrable as to principal only)
and to provide for exchangeability of such Securities for Securities issued hereunder in fully registered form, and to make all appropriate changes for such purpose; 
 (c) to add to the covenants of the Company for the benefit of the Holders of all or one or more specified series of Securities (and if such covenants are to be for the benefit of fewer than all
series of Securities or fewer than all Securities of a Series, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company; 
 (d) to secure the Securities; 
 (e) to establish the form or terms of Securities of any series as permitted by Sections 2.01 and 3.01; 
 (f) to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under
this Indenture, provided such action shall not adversely affect the interest of the Holders of Securities of any series; or 
 (g) 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 

  

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of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 6.11(b). 
 SECTION 9.02. Supplemental Indentures with Consent of
Holders. With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected (voting as one class) by such supplemental indenture, by Act of said Holders delivered to the Company
and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Security affected thereby: 
 (a) extend the Stated Maturity of the principal of any Outstanding Security, or
reduce the principal amount thereof or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or change currency in which the principal thereof (including any amount in respect of
Original Issue Discount Security), premium, if any, or interest thereon is payable or reduce the amount of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof; 
 (b) reduce the percentage in principal amount of
the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture; or 
 (c) modify any of the provisions of this
Section, Section 5.13 or Section 10.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each 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 any Act of Holders
under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 This Indenture may not be amended to alter the subordination provisions contained in Article XIII hereof without the consent of each holder of Senior Indebtedness outstanding that would be
adversely affected by such amendment or alteration. 
  

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 SECTION 9.03. Execution of Supplemental Indentures. In executing or accepting the
additional trusts created by any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully
protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture, and that all conditions precedent have been complied with. The
Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 9.04. Effect of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, this
Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby. 
 SECTION 9.05. Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this
Article shall conform to the requirements of the Trust Indenture Act as then in effect. 
 SECTION 9.06. Reference in
Securities to Supplemental Indentures. Securities authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee
as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may
be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 
 ARTICLE X 
 Covenants 
 SECTION 10.01. Payment of Principal, Premium and Interest. The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of (and premium, if
any) and interest on the Securities of that series in accordance with the terms of such Securities and this Indenture. 
 SECTION 10.02. Maintenance of Office or Agency. The Company will maintain in each Place of Payment for any series, an office or agency where Securities of that series may be presented or surrendered for payment and an office or
agency where Securities may be surrendered for transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company initially appoints the Trustee, acting through its
Corporate Trust Office, as its agent for said purposes. The Company will give prompt written notice to the Trustee of any change in the location of any such office or agency. If at any time the Company shall fail to maintain such office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the 

  

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Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies where the Securities may be presented or
surrendered for any or all of such purposes, and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office
or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation and any change in the location of any such office or agency. 
 SECTION 10.03. Money for Security Payments To Be Held in Trust. If the Company shall at any time act as its own Paying Agent with
respect to any series of Securities, it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its failure so to act. 

Whenever the Company shall have one or more Paying Agents, it will, prior to each due date of the principal of or interest on any
Securities, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal and premium (if any) or interest,
and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its failure so to act. 
 The
Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:

 (a) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on Securities in trust
for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 
 (b) give the Trustee notice of any default by the Company (or any other obligor upon the Securities) in the making of any payment of principal (and premium, if any) or interest; and 
 (c) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all
sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as
those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by the Company or any 

  

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Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of (and
premium, if any) or interest on any Security and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall (unless otherwise required by mandatory provision of applicable escheat or
abandoned or unclaimed property law) be paid on Company Request to the Company, or (if then held by the Company) shall (unless otherwise required by mandatory provision of applicable escheat or abandoned or unclaimed property law) be discharged from
such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a
newspaper published in the English language, customarily published on each Business Day and of general circulation in the city of Wilmington, Delaware, notice that such money remains unclaimed and that, after a date specified therein, which shall
not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid the Company. 
 SECTION 10.04. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (a) all taxes, assessments and governmental
charges levied or imposed upon the Company or any Restricted Subsidiary or upon the income, profits or property of the Company or any Restricted Subsidiary, and (b) all lawful claims for labor, materials and supplies which, if unpaid, might by
law become a lien upon the property of the Company or any Restricted Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim
whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 
 SECTION 10.05.
Statement as to Compliance. The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate, signed by at least one of the principal
executive officer, principal financial officer or principal accounting officer of the Company, covering the preceding calendar year, stating whether or not to the best knowledge of the signers thereof the Company is in default in the performance,
observance or fulfillment of or compliance with any of the terms, provisions, covenants and conditions of this Indenture, and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have
knowledge. For the purpose of this Section 10.05, compliance shall be determined without regard to any grace period or requirement of notice provided pursuant to the terms of this Indenture. 
 SECTION 10.06. Waiver of Certain Covenants. The Company may omit in any particular instance to comply with any covenant or
condition set forth in Section 10.04, with respect to the Securities of any series if before or after the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by

  

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Act of such Holders, either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall
extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company in respect of any such covenant or condition shall remain in full force and
effect. 
 SECTION 10.07. Calculation of Original Issue Discount. The Company shall file with the Trustee promptly at
the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific
information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE XI 
 Redemption of Securities 
 SECTION 11.01. Applicability of This Article. Redemption of Securities (whether by operation of a sinking fund or otherwise) as permitted or required by any form of Security issued
pursuant to this Indenture shall be made in accordance with such form of Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any provision of this Article, the provision of such form
of Security shall govern. Except as otherwise set forth in the form of Security for such series, each Security shall be subject to partial redemption only in the amount of $1,000 or integral multiples of $1,000. 
 SECTION 11.02. Election To Redeem; Notice to Trustee. The election of the Company to redeem any Securities shall be evidenced by
or pursuant to a Board Resolution. In case of any redemption at the election of the Company, the Company shall, at least 60 days prior to the date fixed for redemption (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee (by Company Request) of such date and of the principal amount of Securities of that series to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of
such Securities, the Company shall furnish the Trustee with an Officers’ Certificate and an Opinion of Counsel evidencing compliance with such restriction. 
 SECTION 11.03. Selection of Securities To Be Redeemed. If less than all the Securities of a particular series and having the same terms are to be redeemed, the Trustee shall select, not
more than 60 days prior to the date fixed for redemption, in such manner as in its sole discretion it shall deem appropriate and fair, the Securities or portions thereof of such series to be redeemed. The Trustee shall promptly notify the Company in
writing of the Securities selected for partial redemption and the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed. If the Company shall so direct, Securities registered in the name of the
Company, any Affiliate or any Subsidiary thereof shall not be included in the Securities selected for redemption. 
  

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 SECTION 11.04. Notice of Redemption. Notice of redemption shall be given by
first-class mail, postage prepaid, mailed not later than the 30th day, and not earlier than the 60th day, prior to the date fixed for redemption, to each Holder of Securities to be redeemed, at the address of such Holder as it appears in the
Securities Register. 
 With respect to Securities of each series to be redeemed, each notice of redemption shall identify
the Securities to be redeemed (including CUSIP number(s), if any) and shall state: 
 (a) the date fixed for redemption for
Securities of such series; 
 (b) the redemption price at which Securities of such series are to be redeemed; 
 (c) if less than all Outstanding Securities of such particular series and having the same terms are to be redeemed, the identification
(and, in the case of partial redemption, the respective principal amounts) of the particular Securities to be redeemed; 
 (d) that on the date fixed for redemption, the redemption price at which such Securities are to be redeemed will become due and payable upon each such Security or portion thereof, and that interest thereon, if any, shall cease to accrue on
and after said date; 
 (e) the place or places where such Securities are to be surrendered for payment of the redemption
price at which such Securities are to be redeemed; and 
 (f) that the redemption is for a sinking fund, if such is the case.

 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the
Company’s written request, by the Trustee in the name and at the expense of the Company. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice.
In any case, a failure to give such notice by mail or any defect in the notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security.

 SECTION 11.05. Deposit of Redemption Price. Prior to the redemption date specified in the notice of redemption
given as provided in Section 11.04, the Company will deposit with the Trustee or with one or more paying agents an amount of money sufficient to redeem on the redemption date all the Securities so called for redemption at the applicable
redemption price. 
 SECTION 11.06. Payment of Securities Called for Redemption. If any notice of redemption has been
given as provided in Section 11.04, the Securities or portion of Securities with respect to which such notice has been given shall become due and payable on the date and at the place or places stated in such notice at the applicable redemption
price. On presentation and surrender of such Securities at a place of payment in said notice specified, the said securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price. 

 

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 Upon presentation of any Security redeemed in part only, the Company shall execute and
the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of the same series, of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the
Security so presented and having the same Original Issue Date, Stated Maturity and terms. If a Global Security is so surrendered, such new Security will also be a new Global Security. 
 ARTICLE XII 
 Sinking Funds 
 SECTION 12.01. Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement
of Securities of any series except as otherwise specified as contemplated by Section 3.01 for such Securities. 
 The
minimum amount of any sinking fund payment provided for by the terms of any Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any sinking fund payment in excess of such minimum amount which is
permitted to be made by the terms of such Securities of any series is herein referred to as an “optional sinking fund payment”. If provided for by the term of any Securities of any series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 12.02. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of such Securities. 
 SECTION 12.02. Satisfaction of Sinking Fund Payments with Securities. In lieu of making all or any part of a mandatory sinking
fund payment with respect to any Securities of a series in cash, the Company may at its option, at any time no more than 16 months and no less than 30 days prior to the date on which such sinking fund payment is due, deliver to the Trustee
Securities of such series theretofore purchased or otherwise acquired by the Company, except Securities of such series that have been redeemed through the application of mandatory or optional sinking fund payments pursuant to the terms of the
Securities of such series, accompanied by a Company Order instructing the Trustee to credit such obligations and stating that the Securities of such series were originally issued by the Company by way of bona fide sale or other negotiation for
value; provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the redemption price for such Securities, as specified in
the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 SECTION 12.03. Redemption of Securities for Sinking Fund. Not less than 60 days 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 such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash in the
currency in which the Securities of such series are payable (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to Section 12.02 and will
also deliver to the Trustee any Securities to be so delivered. Such Certificate shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments 

  

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therein referred to, if any, on or before the succeeding sinking fund payment date. In the case of the failure of the Company to deliver such Certificate
(or, as required by this Indenture and the Securities specified in such Certificate), the sinking fund payment due on the succeeding sinking fund payment date for such series shall be paid entirely in cash and shall be sufficient to redeem the
principal amount of the Securities of such series subject to a mandatory sinking fund payment without the right to deliver or credit securities as provided in Section 12.02 and without the right to make the optional sinking fund payment with
respect to such series at such time. 
 Any sinking fund payment or payments (mandatory or optional) made in cash plus any
unused balance of any preceding sinking fund payments made with respect to the Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date
on which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of Securities of such series at the redemption price
specified in such Securities with respect to the sinking fund. Any sinking fund moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent, segregated and held in trust as provided in
Section 10.03) for such series and together with such payment (or such amount so segregated) shall be applied in accordance with the provisions of this Section 12.03. Any and all sinking fund moneys with respect to the Securities of any
particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 10.03) on the last sinking fund payment date with respect to Securities of such series and not held
for the payment or redemption of particular Securities of such series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other moneys, if necessary, to be deposited (or segregated)
sufficient for the purpose, to the payment of the principal of the Securities of such series at Maturity. The Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and
cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and
in the manner stated in Section 11.06. On or before each sinking fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in
Section 10.03) in cash a sum in the currency in which Securities of such series are payable (except as provided pursuant to Section 3.01) equal to the principal and any interest accrued to the redemption date for Securities or portions
thereof to be redeemed on such sinking fund payment date pursuant to this Section 12.03. 
 Neither the Trustee nor the
Company shall redeem any Securities of a series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the sinking fund for such series during the continuance of a default in payment of interest, if
any, on any Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the securities of such series, except that if the notice of redemption shall have been
provided in accordance with the provisions hereof, the Trustee (or the Company if the Company is then acting as its own Paying Agent) shall redeem such Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated
by the Company) for that purpose in accordance with the terms of this Article XII. Except as aforesaid, any moneys in the sinking fund for such series at the time when 

  

 -52- 

 
any such default or Event of Default shall occur and any moneys thereafter paid into such sinking fund shall, during the continuance of such default or Event
of Default, be held as security for the payment of the Securities of such series; provided, however, that in case such default or Event of Default shall have been cured or waived herein, such moneys shall thereafter be applied on the
next sinking fund payment date for the Securities of such series on which such moneys may be applied pursuant to the provisions of this Section 12.03. 
 ARTICLE XIII 
 Subordination 
 SECTION 13.01. Agreement of Securityholders that Securities Subordinated to Extent Provided. The Company, for itself, its
successors and assigns, covenants and agrees and each Holder of the Securities by his acceptance thereof likewise covenants and agrees that the payment of the principal of, premium, if any, and interest, if any, on each and all of the Securities
(other than Securities discharged or defeased pursuant to Article IV) is hereby expressly subordinated and junior in right of payment, to the extent and in the manner hereinafter set forth, to the prior payment in full, in cash or cash equivalents,
of all Senior Indebtedness. The provisions of this Article shall constitute a continuing offer to all persons who, in reliance upon such provisions, become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the
benefit of the holders of Senior Indebtedness, and such holders are hereby made obligees hereunder the same as if their names were written herein as such, and they and/or each of them may proceed to enforce such provisions. 
 SECTION 13.02. Rights of Holders of Senior Indebtedness. 
 (a) If Senior Indebtedness has not been paid when due and any applicable grace period with respect to such default has ended and such default has not been cured or waived or ceased to exist, then
no payment of the principal of (including redemption payments), premium, if any, or interest on the Securities shall be made; 
 (b) If the maturity of any Senior Indebtedness is accelerated because of an event of default, no payment of the principal of (including redemption payments) premium, if any, or interest on the Securities shall be made until such Senior
Indebtedness is paid in full or such acceleration has been rescinded; and 
 (c) No holder of Senior Indebtedness shall be
prejudiced in his or her right to enforce subordination of the Securities by any act or failure to act on the part of the Company. 
 SECTION 13.03. Securities Subordinated to Prior Payment of all Senior Indebtedness on Dissolution, Liquidation or Reorganization of Company. Upon any distribution of assets of the Company, to creditors upon any dissolution,
winding up, liquidation or reorganization, whether voluntary or involuntary, or in bankruptcy, insolvency, receivership or other proceedings of the Company: 
 (a) the holders of all Senior Indebtedness shall first be entitled to receive payment in full in cash or cash equivalents of the principal thereof, premium, if any, and interest (including any
interest accrued on such Senior Indebtedness subsequent to the commencement of a bankruptcy, insolvency, receivership or similar proceeding), if any, due thereon before the 

  

 -53- 

 
Holders of the Securities are entitled to receive any payment on account of the principal of, premium, if any, or interest, if any, on the Securities or any
distribution of any assets or securities; 
 (b) any payment or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to which the Holders of the Securities or the Trustees would be entitled except for the provisions of this Article Fourteen, shall be paid by the trustee in bankruptcy, receiver, liquidating
trustee, custodian, assignee, agent or other person making such payment or distribution directly to the holders of Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture under which any
instruments evidencing any of such Senior Indebtedness may have been issued, to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid, after giving effect to any concurrent payment or distribution or provision
therefor to the holders of such Senior Indebtedness; 
 (c) in the event that notwithstanding the foregoing provisions of
this Section 13.03, the Company shall make any payment to the Trustee on account of the principal of or premium, if any, or interest, if any, on the Securities, or on account of any sinking fund, or the Holders of the Securities shall receive
any such payment when such payment is prohibited by this Section 13.03 and before all amounts payable on, under or in connection with Senior Indebtedness are paid in full in cash or cash equivalents, then and in such event, such payment
(subject to the provisions of Sections 13.06 and 13.07) shall be held by the Trustee or the Holders of the Securities, as the case may be, in trust for the benefit of, and shall be paid over and delivered forthwith to the trustee in bankruptcy,
receiver, liquidating trustee, custodian, assignee, agent or other person making payment or distribution of assets of the Company for application to the payment of all Senior Indebtedness remaining unpaid to the extent necessary to pay all Senior
Indebtedness in full in accordance with the terms of such Senior Indebtedness, after giving effect to any concurrent payment or distribution or provision therefor to the holders of such Senior Indebtedness. 
 SECTION 13.04. Obligation of the Company Unconditional. Nothing contained in this Article XIII or elsewhere in this Indenture or
in the Securities is intended to or shall impair as between the Company and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities the principal of, premium, if any,
and interest, if any, on the Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than
the holders of the Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the
rights, if any, under this Article XIII of the holders of Senior Indebtedness in respect of cash, property, or securities of the Company received upon the exercise of any such remedy. Upon any distribution of assets of the Company referred to in
this Article XIII, the Trustee, subject to the provisions of Section 6.01, and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such liquidation, dissolution,
winding up, or reorganization proceedings are pending, or a certificate of the liquidating trustee or agent or other person making any distribution to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the 

  

 -54- 

 
persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XIII. 
 SECTION 13.05. Trustee Entitled to Assume Payments Not Prohibited in Absence of Notice. The Trustee shall not at any time be charged with knowledge of the existence of any facts which would prohibit the making of any payment of
monies to or by the Trustee, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company or from one or more holders of Senior Indebtedness or from any trustee therefor; and, prior to the receipt
of any such written notice, the Trustee, subject to the provisions of Section 6.01, shall be entitled to assume conclusively that no such facts exist. 
 SECTION 13.06. Application by Trustee of Monies Deposited With It. Anything in this Indenture to the contrary notwithstanding, any deposit of monies by the Company with the Trustee or any
paying agent (whether or not in trust) for the payment of the principal of or premium, if any, or interest, if any, on any Securities shall be subject to the provisions of Sections 13.01, 13.02 and 13.03 except that, if prior to the date on
which by the terms of this Indenture any such monies may become payable for any purpose (including, without limitation, the payment of either the principal of or the interest or premium, if any, on any Security) a Responsible Officer of the Trustee
shall not have received with respect to such monies the notice provided for in Section 13.05, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such monies and to apply
the same to the purpose for which they were received, and shall not be affected by any notice to the contrary which may be received by it on or after such date. 
 SECTION 13.07. Subordination Rights not Impaired by Acts or Omissions of Company or Holders of Senior Indebtedness. No right of any present or future holders of any Senior Indebtedness to
enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by
the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof which any such holder may have or be otherwise charged with. 
 SECTION 13.08. Securityholders Authorize Trustee to Effectuate Subordination of Securities. Each Holder of the Securities by his acceptance thereof authorizes and expressly directs
the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XIII and appoints the Trustee his attorney-in-fact for such purpose, including, in the event of any
dissolution, winding up, liquidation or reorganization of the Company (whether in bankruptcy, insolvency or receivership proceedings or upon an assignment for the benefit of creditors or otherwise) tending towards liquidation of the business and
assets of the Company, the immediate filing of a claim for the unpaid balance of its or his Securities in the form required in said proceedings and cause said claim to be approved. 
 SECTION 13.09. Right of Trustee to Hold Senior Indebtedness. The Trustee shall be entitled to all of the rights set forth in this
Article XIII in respect of any Senior Indebtedness at any time held by it to the same extent as any other holder of Senior Indebtedness, 

  

 -55- 

 
and nothing in Section 6.13 or elsewhere in this Indenture shall be construed to deprive the Trustee of any of its rights as such Holder. 
 SECTION 13.10. Article XIII Not to Prevent Events of Default. The failure to make a payment on account of principal, interest or
sinking fund by reason of any provision in this Article XIII shall not be construed as preventing the occurrence of an Event of Default under Section 5.01. 
 SECTION 13.11. Subrogation. Subject to the payment in full of all amounts due in respect of Senior Indebtedness, the rights of the Holders shall be subrogated to the rights of the holders
of such Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company, as the case may be, applicable to such Senior Indebtedness until the principal of (and premium, if any) and interest on the Securities
shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Senior Indebtedness of any cash, property or securities to which the Holders or the Trustee would be entitled except for the
provisions of this Article XIII, and no payment over pursuant to the provisions of this Article XIII to or for the benefit of the holders of such Senior Indebtedness by Holders or the Trustee, shall, as between the Company, its creditors other than
holders of Senior Indebtedness of the Company, and the Holders, be deemed to be a payment by the Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article XIII are and are intended solely for the
purposes of defining the relative rights of the Holders, on the one hand, and the holders of such Senior Indebtedness, on the other hand. 
 ARTICLE XIV 
 Miscellaneous 
 SECTION 14.01. Miscellaneous. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument. 
  

 -56- 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed,
and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

			
	 NATIONWIDE FINANCIAL SERVICES, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
	 Seal
	 		 	
		
	 Attest:
	 	
		
	  
	 	
	                 Secretary
	 	

  

			
	 WILMINGTON TRUST COMPANY,

	 as Trustee

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
	 Seal
	 		 	
		
	 Attest:
	 	
		
	  
	 	
	Assistant Secretary	 	

  

 -57-First Supplemental Indenture

 Exhibit 4.2 
 NATIONWIDE FINANCIAL SERVICES, INC. 
 AND 
 WILMINGTON TRUST COMPANY 
 as Trustee

 FIRST SUPPLEMENTAL INDENTURE 
 Dated as of May 18, 2007 
 to the 
 INDENTURE 
 Dated as of May 18, 2007 

 TABLE OF CONTENTS 
  

			
	 	  	PAGE
	ARTICLE 1	  	
	DEFINITIONS	  	
		
	 Section 1.01. Definitions
	  	1
		
	ARTICLE 2	  	
	TERMS OF SERIES OF SECURITIES	  	
		
	 Section 2.01. Terms of Series of Securities
	  	19
		
	ARTICLE 3	  	
	REPAYMENT OF THE NOTES	  	
		
	 Section 3.01. Repayment
	  	35
	 Section 3.02. Selection of Securities To Be Repaid
	  	35
	 Section 3.03. Notice of Repayment
	  	35
	 Section 3.04. Deposit of Repayment Amount
	  	36
	 Section 3.05. Payment of Notes Subject to Repayment
	  	36
		
	ARTICLE 4	  	
	SUPPLEMENTAL INDENTURES	  	
		
	 Section 4.01. Supplemental Indentures Without Consent of Holders
	  	37
	 Section 4.02. Supplemental Indentures With Consent of Holders
	  	38
		
	ARTICLE 5	  	
	MISCELLANEOUS	  	
		
	 Section 5.01. Relationship to Trust Indenture Act
	  	39
	 Section 5.02. Headers
	  	40
	 Section 5.03. Successors and Assigns
	  	40
	 Section 5.04. Separability
	  	40
	 Section 5.05. Rules of Construction
	  	40
	 Section 5.06. Governing Law
	  	40
	 Section 5.07. No Representation by Trustee
	  	40
	 Section 5.08. No Consent Required for Amendments to Achieve Consistency.
	  	40

  

 i 

 FIRST SUPPLEMENTAL INDENTURE, dated as of May 18, 2007 (the “Supplemental
Indenture”), between NATIONWIDE FINANCIAL SERVICES, INC., a Delaware corporation (the “Company”) having its principal office at One Nationwide Plaza, Columbus, Ohio 43215, and WILMINGTON TRUST COMPANY, as Trustee (the
“Trustee”). 
 WITNESSETH: 
 WHEREAS, the Company and the Trustee have heretofore executed and delivered a certain Indenture, dated as of May 18, 2007 (the “Indenture”; capitalized terms not otherwise defined herein shall
have the meanings set forth in the Indenture), providing for the issuance from time to time of Securities; 
 WHEREAS,
Section 9.01 of the Indenture provides that a supplemental indenture may be entered into by the Company and the Trustee without the consent of any Holder of any Securities to establish the form or terms of Securities of any series as permitted
by Section 2.01 or 3.01 of the Indenture; 
 WHEREAS, pursuant to Sections 2.01 and 3.01 of the Indenture, the Company
desires to provide for the establishment of a new series of Securities under the Indenture, the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Supplemental
Indenture; 
 WHEREAS, the conditions set forth in the Indenture for the execution and delivery of this Supplemental
Indenture have been satisfied; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of
the Company and the Trustee, in accordance with its terms, and a valid amendment of, and supplement to, the Indenture have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Securities of the series established by this Supplemental Indenture by the Holders thereof from time to time on or after the date hereof, it is
mutually covenanted and agreed, for the equal and proportionate benefit of all such Holders, that the Indenture is supplemented and amended, to the extent and for the purposes expressed herein, as follows: 
 ARTICLE 1 
 DEFINITIONS

 Section 1.01. Definitions. For all purposes of this Supplemental Indenture, except as otherwise expressly
provided or unless the context otherwise requires, (i) references to any Article, Section or subdivision thereof are references to an Article, Section or other subdivision of this Supplemental Indenture and (ii)

 
capitalized terms not otherwise defined herein shall have the meanings set forth in the Indenture and the following terms used in this Supplemental Indenture
have the following respective meanings: 
 “Additional Interest” means the interest, if any, that shall
accrue on any interest on the Notes the payment of which has not been made on the applicable Interest Payment Date and which shall accrue at the rate per annum specified or determined as specified in Section 2.01(g) from the applicable Interest
Payment Date. 
 “Alternative Payment Mechanism” has the meaning set forth in Section 2.01(j).

 “APM Commencement Date” has the meaning set forth in Section 2.01(i)(iii). 
 “APM Qualifying Securities” means, with respect to an RCC Alternative Payment Mechanism, one or more of the following
(as designated in the transaction documents for the Qualifying Capital Securities that include an RCC Alternative Payment Mechanism, a Mandatory Trigger Provision or Debt Exchangeable for Preferred Equity): 
  

	 	 (a)
	 Common Stock; 

  

	 	 (b)
	 rights to purchase Common Stock; 

  

	 	 (c)
	 Mandatorily Convertible Preferred Stock; or 

  

	 	 (d)
	 Qualifying Non-Cumulative Preferred Stock, 

 in each case, issued by the Company; 
 provided that if the APM Qualifying Securities for any RCC
Alternative Payment Mechanism, Mandatory Trigger Provision or Debt Exchangeable for Preferred Equity include both Common Stock and rights to purchase Common Stock, such RCC Alternative Payment Mechanism, Mandatory Trigger Provision or Debt
Exchangeable for Preferred Equity may permit, but need not require, the Company to issue rights to purchase Common Stock, or Qualifying Non-Cumulative Preferred Stock; provided, further, that if such RCC Alternative Payment Mechanism,
Mandatory Trigger Provision or Debt Exchangeable for Preferred Equity includes all of the securities included in (a) through (d) above, it may allow for an amendment of the terms of such security to eliminate Common Stock, rights to
purchase Common Stock and Mandatorily Convertible Preferred Stock as APM Qualifying Securities if the Company has been advised in writing by a nationally recognized independent accounting firm that there is more than an 

  

 2 

 
insubstantial risk that the failure to do so would result in a reduction in the Company’s earnings per share as calculated for financial reporting
purposes. 
 “Applicable Governmental Authority” means the Federal Reserve Board, the Office of the
Comptroller of the Currency, the Office of Thrift Supervision or any state or other federal authority with regulatory oversight over the Company’s capitalization. 
 “Applicable Percentage” means the result, expressed as a percentage, of one divided by (a) 0.75 with respect to any redemption, purchase or payment on or prior to the date
that is 50 years prior to the Final Maturity Date and (b) 0.50 with respect to any redemption, purchase or payment after the date that is 50 years prior to the Final Maturity Date and on or prior to the date that is 30 years prior to the Final
Maturity Date and (c) 0.25 with respect to any redemption, purchase or payment after the date that is 30 years prior to the Final Maturity Date. 
 “Bankruptcy Claim Limitation Provision” means, with respect to any securities or combination of securities that have an RCC Alternative Payment Mechanism or a Mandatory Trigger Provision (together in
this definition, “such securities”), provisions that, upon any liquidation, dissolution, winding up or reorganization or in connection with any insolvency, receivership or proceeding under any bankruptcy law with respect to the
issuer, limit the claim of the holders of such securities to Distributions that accumulate during (A) any deferral period, in the case of securities that have an RCC Alternative Payment Mechanism or (B) any period in which the issuer fails
to satisfy one or more financial tests set forth in the terms of such securities or related transaction agreements, in the case of securities having a Mandatory Trigger Provision, to: 
 (i) in the case of securities having an RCC Alternative Payment Mechanism or Mandatory Trigger Provision with respect to which the APM
Qualifying Securities do not include Qualifying Non-Cumulative Preferred Stock or Mandatorily Convertible Preferred Stock, 25% of the stated or principal amount of such securities then outstanding; and 
 (ii) in the case of any other securities, an amount not in excess of: (A) the amount of accumulated and unpaid Distributions
(including compounded amounts) that relate to the earliest two years of the portion of the deferral period for which Distributions have not been paid or (B) the sum of (1) the amount of accumulated and unpaid Distributions (including
compounded amounts) that relate to the earliest two years of the portion of the deferral period for which Distributions have not been paid and (2) an amount equal to the excess, if any, of the Preferred Cap over the aggregate amount of net
proceeds from the sale of Qualifying Non-Cumulative Preferred Stock and unconverted Mandatorily Convertible Preferred Stock that the issuer has applied to pay such Distributions pursuant to the RCC Alternative Payment Mechanism or the Mandatory
Trigger Provision; provided that the holders of such securities are deemed to agree that, to 

  

 3 

 
the extent the remaining claim exceeds the amount set forth in subclause (1), the amount they receive shall not exceed the amount they would have received
had such claim ranked pari passu with the interests of the holders, if any, of Qualifying Non-Cumulative Preferred Stock. 
 “Bankruptcy Event” means any of the events set forth in Section 5.01(e) or Section 5.01(f) of the Indenture. 
 “Business Day” means each day, other than (a) a Saturday or Sunday or (b) a day on which banking institutions in Wilmington, Delaware or The City of New York are authorized or required by
law or executive order to remain closed or, on or after May 15, 2037, a day that is not a day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 
 “Calculation Agent” means Wilmington Trust Company, or any other firm appointed by the Company, acting as calculation
agent for the Notes. 
 “Commercially Reasonable Efforts” has, with respect to the Replacement Capital
Obligation, the meaning set forth in Section 2.01(f)(vi), and with respect to the Alternative Payment Mechanism, the meaning set forth in Section 2.01(j)(iv). 
 “Common Equity Issuance Cap” has the meaning set forth in Section 2.01(j)(ii). 
 “Common Stock” means any of the equity securities of the Company (including equity securities held as treasury shares) or rights to purchase equity securities that have no preference in payment or
dividends or amounts payable upon the Company’s liquidation, dissolution or winding-up (including a security that tracks the performance of, or relates to the results of, a business, unit or division of the Company), and any equity securities
that have no preference in payment or dividends or amounts payable upon the Company’s liquidation, dissolution or winding-up and are issued in exchange therefor in connection with a merger, consolidation, binding share exchange, business
combination, recapitalization or other similar event. 
 “Comparable Treasury Issue” means the U.S. Treasury
security selected by the Premium Calculation Agent as having a maturity comparable to the term remaining from the Early Redemption Date to May 15, 2037 (the “Remaining Life”) that would be utilized, at the time of selection and
in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable term. 
 “Comparable Treasury Price” means, with respect to an Early Redemption Date (1) the average of five Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference

  

 4 

 
Treasury Dealer Quotations, or (2) if the Premium Calculation Agent obtains fewer than five such Reference Treasury Dealer Quotations, the average of
all such quotations. 
 “Current Market Price” means, for the Common Stock on any date, the closing sale
price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions by the
New York Stock Exchange or, if the Common Stock is not then listed on the New York Stock Exchange, as reported by the principal U.S. securities exchange on which such Common Stock is traded or quoted. If such Common Stock is not either listed or
quoted on any U.S. securities exchange on the relevant date, the Current Market Price shall be the last quoted bid price per share for such Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau
or similar organization. If such Common Stock is not so quoted, the Current Market Price shall be the average of the mid-point of the last bid and ask prices per share for the Common Stock on the relevant date from each of at least three nationally
recognized independent investment banking firms selected by the Company for this purpose. If such Common Stock is not so quoted, and if bid and ask prices for such Common Stock are not available, the “current price” shall be determined by
the expert opinion of a nationally recognized independent investment banking firm selected by the Company’s Board of Directors for this purpose. 
 “Debt Exchangeable for Common Equity” means a security (or combination of securities) that: 
 (i) gives the holder a beneficial interest in (A) the Company’s debt securities that are not redeemable prior to settlement of the stock purchase contract referred to in subclause (B) and (B) a
fractional interest in a stock purchase contract for a share of Common Stock that will be settled in three years or less, with the number of shares of Common Stock purchasable pursuant to such stock purchase contract to be within a range established
at the time of issuance of such debt securities; 
 (ii) provides that the investors directly or indirectly grant the Company
a security interest in such debt securities and their proceeds (including any substitute collateral permitted under the transaction documents) to secure the investors’ direct or indirect obligation to purchase Common Stock pursuant to such
stock purchase contracts; 
 (iii) includes a remarketing feature pursuant to which the Company’s debt securities are
remarketed to new investors commencing not later than the first “distribution date” that is at least one (1) month prior to the settlement date of the stock purchase contract; and 
  

 5 

 (iv) provides for the proceeds raised in the remarketing to be used to purchase Common
Stock under the stock purchase contracts and, if there has not been a successful remarketing by the settlement date of the stock purchase contract, provides that the stock purchase contracts will be settled by the Company acquiring the
Company’s respective debt securities or other collateral directly or indirectly pledged by investors in the Debt Exchangeable for Common Equity in satisfaction of the investors’ obligations under the stock purchase contracts. 

“Debt Exchangeable for Preferred Equity” means a security (or combination of securities, together in this definition
“such securities”) that: 
 (i) gives the holder a beneficial interest in (a) the subordinated debt
securities of the Company that include a provision requiring the Company to issue (or use commercially reasonable efforts to issue) one or more types of APM Qualifying Securities raising aggregate proceeds at least equal to the deferred
Distributions on such subordinated debt securities commencing not later than the second anniversary of the commencement of such deferral period and that are the most junior subordinated debt of the Company (or rank pari passu with the most
junior subordinated debt of the Company) and (b) a fractional interest in a stock purchase contract for Qualifying Non-Cumulative Preferred Stock; 
 (ii) includes a remarketing feature pursuant to which the subordinated debt of the Company is remarketed to new investors commencing not later than the first Distribution Date that is at least five years after the
date of issuance of the security or earlier in the event of an early settlement event based on (a) the dissolution of the issuer of such securities or (b) one or more capital ratios or financial tests set forth in the terms of such
securities or related transaction agreements; 
 (iii) provides that the investors directly or indirectly grant the Company a
security interest in such debt securities and their proceeds (including any substitute collateral permitted under the transaction documents) to secure the investors’ direct or indirect obligation to purchase Qualifying Non-Cumulative Preferred
Stock pursuant to such stock purchase contracts; 
 (iv) provides for the proceeds raised in the remarketing to be used to
purchase Qualifying Non-Cumulative Preferred Stock; 
 (v) includes a replacement capital covenant substantially similar to
the Replacement Capital Covenant, provided that such replacement capital covenant will apply to such security (or combination of securities) and to the Qualifying Non-Cumulative Preferred Stock and will not include Debt Exchangeable for
Common Equity or Debt Exchangeable for Preferred Equity in the definition of Qualifying Capital Securities; 
  

 6 

 (vi) after the issuance of such Qualifying Non-Cumulative Preferred Stock, provides the
holder of the security with a beneficial interest in such Qualifying Non-Cumulative Preferred Stock; and 
 (vii) includes a
provision specifying that if the debt securities are not successfully remarketed by the sixth anniversary of the issue date of the securities, the Qualifying Non-Cumulative Preferred Stock will be acquired in exchange for the debt securities in
satisfaction of the investors’ obligations under the stock purchase contracts. 
 “Deferral Period” has
the meaning set forth in Section 2.01(i)(ii). 
 “Distribution Date” means, as to any securities or
combination of securities, the dates on which periodic Distributions on such securities are scheduled to be made. 
 “Distribution Period” means, as to any securities or combination of securities, each period from and including a Distribution Date for such securities to but excluding the next succeeding Distribution Date for such
securities. 
 “Distributions” means, as to a security or combination of securities, dividends, interest
payments or other income distributions to the holders thereof that are not Subsidiaries of the Company. 
 “Early
Redemption Date” means any date fixed for redemption of the Notes by the Company, at the Company’s option, provided that, unless otherwise specified by the Company, a Repayment Date will not be an Early Redemption Date.

 “Eligible Proceeds” means, with respect to any Interest Payment Date, the net proceeds (after
underwriters’ or placement agents’ fees, commissions or discounts and other expenses relating to the issuance or sale) the Company has received during the 180-day period prior to such Interest Payment Date from the issuance or sale of
Qualifying Securities, subject to the Common Equity Issuance Cap, the Preferred Stock Issuance Cap and the Share Cap, as applicable, to Persons that are not Subsidiaries. 
 “Final Maturity Date” means, initially, May 15, 2067, subject to extension pursuant to Section 2.01(e). 
 “Intent-Based Replacement Disclosure” means, as to any security or combination of securities, that the issuer has
publicly stated its intention, either in the prospectus or other offering document under which such securities were initially offered for sale or in filings with the Commission made by the issuer under the Exchange Act prior to or contemporaneously
with the issuance of such securities, that the issuer will (and will permit its subsidiaries to) redeem, 

  

 7 

 
purchase, pay or defease such securities only with the proceeds of Replacement Capital Securities that have terms and provisions at the time of payment,
redemption, purchase, or defeasance that are as or more equity-like than the securities then being paid, redeemed, purchased, or defeased, raised within the 180-day period prior to the applicable redemption, purchase, payment or defeasance date.

 “Interest Payment Date” means a Quarterly Interest Payment Date or a Semi-Annual Interest Payment Date,
as the case may be. 
 “Interest Period” means the period from and including any Interest Payment Date (or,
in the case of the first Interest Payment Date, May 18, 2007) to but excluding the next Interest Payment Date. 
 “Make-Whole Price” means, for any Early Redemption Date, the sum, as calculated by the Premium Calculation Agent, of the present values of the outstanding principal (discounted from May 15, 2037) and remaining
scheduled payments of interest that would have been payable to and including May 15, 2037 (discounted from their respective Interest Payment Dates) on the Notes to be redeemed (not including any portion of such payments of interest accrued to
the Early Redemption Date) to the Early Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus accrued and unpaid interest on the principal amount being
redeemed to the Early Redemption Date. 
 “Mandatorily Convertible Preferred Stock” means cumulative
preferred stock with (a) no prepayment obligation on the part of the issuer thereof, whether at the election of the holders or otherwise, and (b) a requirement that the preferred stock convert into Common Stock within three years from the
date of its issuance at a conversion ratio within a range established at the time of issuance of the preferred stock. 
 “Mandatory Trigger Provision” means as to any security or combination of securities (together in this definition, “such securities”), provisions in the terms thereof or of the related transaction agreements
that: 
 (i) require, or at its option in the case of Perpetual Non-Cumulative Preferred Stock permit, the issuer of such
securities to make payment of distributions on such securities only to the extent it receives sufficient net proceeds from the issuance and sale of APM Qualifying Securities, within two years of a failure by the Company to satisfy one or more
financial tests set forth in the terms of such securities or related transaction agreements, in an amount such that the net proceeds of such sale are at least equal to the amount of unpaid Distributions on such securities (including without
limitation all deferred and accumulated amounts) and in either case require the application of the net proceeds of such sale to pay such unpaid Distributions; provided that (a) if the 

  

 8 

 
Mandatory Trigger Provision does not require such issuance and sale within one year of such failure, the amount of Common Stock or rights to purchase Common
Stock the net proceeds of which the issuer must apply to pay such Distributions pursuant to such provision may not exceed the Common Equity Issuance Cap; and (b) the amount of Qualifying Non-Cumulative Preferred Stock and unconverted
Mandatorily Convertible Preferred Stock the net proceeds of which the issuer may apply to pay such Distributions pursuant to such provision may not exceed the Preferred Stock Issuance Cap; 
 (ii) prohibit the issuer from purchasing or redeeming any APM Qualifying Securities or any of its securities ranking junior to or pari
passu with any APM Qualifying Securities the proceeds of which were used to settle deferred Distributions during the relevant deferral period until at least six months after all deferred Distributions have been paid, or, if the provisions
described in clause (i) do not require such issuance and sale of APM Qualifying Securities within one year of such failure, until at least one year after all deferred Distributions have been paid; and 
 (iii) in the case of securities other than Qualifying Non-Cumulative Preferred Stock, include a Bankruptcy Claim Limitation Provision.

 No remedy other than Permitted Remedies will arise by the terms of such securities or related transaction agreements in
favor of the holders of such securities as a result of the issuer’s failure to pay Distributions because of the Mandatory Trigger Provision or as a result of the issuer’s exercise of its right under an Optional Deferral Provision or a Ten
Year Optional Deferral Provision until Distributions have been deferred for one or more Distribution Periods that total together at least ten years. 
 “Market Disruption Event” means for purposes of sales of Qualifying Securities pursuant to the Alternative Payment Mechanism or sales of Replacement Capital Securities pursuant to the Replacement
Capital Obligation, as applicable (collectively, the “Permitted Securities”), the occurrence or existence of any of the following events or sets of circumstances: 
 (a) trading in securities generally (or shares of the Company’s securities specifically) on the New York Stock Exchange or any other
national securities exchange or over-the-counter market on which Qualifying Securities are then listed or traded shall have been suspended or their settlement generally shall have been materially disrupted or minimum prices shall have been
established on any such market or exchange by the Commission, by the relevant exchange or by any other regulatory body or governmental authority having jurisdiction such that trading in any of the Permitted Securities shall have been materially
disrupted or ceased; 
  

 9 

 (b) the Company would be required to obtain the consent or approval of its shareholders
or of a regulatory body (including, without limitation, any insurance regulator or securities exchange) or governmental authority (including, without limitation, any Applicable Governmental Authority) to issue or sell the Permitted Securities, and
the Company fails to obtain such consent or approval notwithstanding its commercially reasonable efforts to such effect; 
 (c) an event occurs and is continuing as a result of which the offering document for the offer and sale of the Permitted Securities would, in the Company’s reasonable judgment, contain an untrue statement of a material fact or omit to
state a material fact required to be stated in such offering document or necessary to make the statements in such offering document not misleading and either (i) the disclosure of such event at the time the event occurs, in the Company’s
reasonable judgment, would have a material adverse effect on its business or (ii) the disclosure relates to a previously undisclosed proposed or pending material business transaction and it has a bona fide business reason for keeping the same
confidential or the disclosure of which would impede its ability to consummate that transaction; provided that one or more events described under this clause (c) shall not constitute a Market Disruption Event with respect to more than 90
days in any 180-day period; 
 (d) the Company reasonably believes that the offering document for the offer and sale of the
Permitted Securities would not be in compliance with a rule or regulation of the Commission (for reasons other than those referred to in the immediately preceding clause (c)) and the Company is unable to comply with such rule or regulation or such
compliance is unduly burdensome; provided that no single suspension contemplated by this clause (d) may exceed 90 days in any 180-day period; 
 (e) there is a material adverse change in general domestic or international economic, political or financial conditions, including without limitation as a result of terrorist activities, or the effect of international
conditions on the financial markets in the United States shall be such that trading in any of the Permitted Securities shall have been materially disrupted or ceased; 
 (f) a material disruption shall have occurred in commercial banking or securities settlement or clearing services in the United States such that market trading in any of the Permitted Securities
shall have been materially disrupted or ceased; 
 (g) the United States shall have become engaged in hostilities, there
shall have been an escalation in hostilities involving the United States, there shall have been a declaration of a national emergency or war by the United States or there shall have occurred any other national or international calamity or crisis
such that market trading in any Permitted Securities shall have been materially disrupted or ceased; or 
  

 10 

 (h) a banking moratorium shall have been declared by federal or state authorities of the
United States, such that market trading in any of the Permitted Securities shall have been materially disrupted or ceased. 
 “Non-Cumulative” means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor
of the holders, other than one or more Permitted Remedies. Securities that include either (i) provisions requiring the Company to issue Qualifying Non-Cumulative Preferred Stock and Common Stock or rights to purchase Common Stock and apply the
proceeds to pay unpaid Distributions on terms substantially similar to the terms of the Alternative Payment Mechanism described in Section 2.01(j), or (ii) a Mandatory Trigger Provision shall also be deemed to be “Non-Cumulative”
for all purposes herein other than the definitions of “Qualifying Non-Cumulative Preferred Stock” and “Perpetual Non-Cumulative Preferred Stock” and the use of the term under (b) of “Optional Deferral Provision.”

 “Notes” has the meaning set forth in Section 2.01(a). 
 “Notice of Repayment” has the meaning set forth in Section 3.03. 
 “NRSRO” means a nationally recognized statistical rating organization within the meaning of Rule 15c3-1(c)(2)(vi)(F)
under the Securities Exchange Act of 1934. 
 “Optional Deferral Provision” means, as to any securities, a
provision in the terms thereof or of the related transaction agreements that contains the following: 
 (a) the issuer of such
securities may, in its sole discretion, defer in whole or in part payment of Distributions on such securities for one or more consecutive Distribution Periods of up to five years or, if a Market Disruption Event is continuing, ten years, without any
remedy other than Permitted Remedies; and 
 (b) an RCC Alternative Payment Mechanism. 
 “Parity Guarantees” has the meaning set forth in Section 2.01(i)(ix). 
 “Parity Securities” has the meaning set forth in Section 2.01(i)(ix). 
 “Permitted Remedies” means, with respect to any securities, one or more of the following remedies: 
 (a) rights in favor of the holders of such securities permitting such holders to elect one or more directors of the issuer (including any
such rights 

  

 11 

 
required by the listing requirements of any stock or securities exchange on which such securities may be listed or traded), and 
 (b) complete or partial prohibitions preventing the issuer from paying (and from permitting any of its Subsidiaries to pay) Distributions
on or repurchasing common stock or other securities that rank pari passu with or junior as to Distributions to such securities for so long as Distributions on such securities, including unpaid Distributions, remain unpaid. 
 “Perpetual Non-Cumulative Preferred Stock” means Non-Cumulative perpetual preferred stock issued by the Company or its
Subsidiaries that ranks pari passu with or junior to other preferred stock of the issuer, and is either subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant or has a Mandatory Trigger Provision
and is subject to Intent-Based Replacement Disclosure. 
 “Preferred Stock Issuance Cap” has the meaning set
forth in Section 2.01(j)(ii). 
 “Premium Calculation Agent” means a Reference Treasury Dealer
appointed by the Company, or any other firm appointed by the Company, or if any such firm is unwilling or unable to select the Comparable Treasury Issue or calculate the Make-Whole Price or Special Event Make-Whole Price, an investment banking
institution of national standing appointed by the Trustee after consultation with the Company. 
 “Qualifying Capital
Securities” means securities (other than Common Stock, rights to purchase Common Stock and securities convertible into Common Stock, such as Mandatorily Convertible Preferred Stock and Debt Exchangeable for Common Equity) that, in the
determination of the Company’s Board of Directors, reasonably construing the definitions and other terms hereof, meet one of the following criteria: 
 (i) in connection with any redemption, repayment or purchase of Notes on or prior to the date that is 50 years prior to the Final Maturity Date: 
 (A) securities issued by the Company or its Subsidiaries that (1) rank pari passu with or junior to the Notes
upon the liquidation, dissolution or winding-up of the Company, (2) have no maturity or a maturity of at least 60 years and (3)(a) are subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant and
have an Optional Deferral Provision or (b) have a Mandatory Trigger Provision, a Ten-Year Optional Deferral Provision and are subject to Intent-Based Replacement Disclosure; 
  

 12 

 (B) securities issued by the Company or its Subsidiaries that
(1) rank pari passu with or junior to other preferred stock of the issuer, (2) have no maturity or a maturity of at least 40 years, (3) are subject to a replacement capital covenant substantially similar to the Replacement
Capital Covenant and (4) have a Mandatory Trigger Provision and a Ten-Year Optional Deferral Provision; or 
 (C) Qualifying Non-Cumulative Preferred Stock; or 
 (ii) in connection with any repayment, redemption or purchase
of Notes after the date that is 50 years prior to the Final Maturity Date and on or prior to the date that is 30 years prior to the Final Maturity Date: 
 (A) all securities described under clause (i) of this definition; 
 (B) securities issued by the Company or its Subsidiaries that (1) rank pari passu with or junior to the Notes upon a liquidation, dissolution or winding-up of the Company, (2) have a Ten-Year Optional
Deferral Provision, (3) have no maturity or a maturity of at least 60 years and (4) are subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant; 
 (C) securities issued by the Company or its Subsidiaries that (a) rank pari passu with or junior to the Notes
upon a liquidation, dissolution or winding-up of the Company, (b) have an Optional Deferral Provision and (c) have no maturity or a maturity of at least 60 years and are subject to Intent-Based Replacement Disclosure; 
 (D) securities issued by the Company or its Subsidiaries that (1) rank pari passu with or junior to the Notes
upon a liquidation, dissolution or winding-up of the Company, (2) have no maturity or a maturity of at least 40 years and (3)(a) have an Optional Deferral Provision and are subject to a replacement capital covenant substantially similar to
the Replacement Capital Covenant or (b) have a Mandatory Trigger Provision, a Ten-Year Optional Deferral Provision and are subject to Intent-Based Replacement Disclosure; 
 (E) securities issued by the Company or its Subsidiaries that (1) would rank junior to all of the senior and
subordinated debt of the Company other than the Notes, (2) have a Mandatory Trigger Provision and a Ten-Year Optional Deferral Provision and (3) have no maturity or a maturity of at least 60 years and are subject to Intent-Based
Replacement Disclosure; 
 (F) cumulative preferred stock issued by the Company or its Subsidiaries that
(1) has no prepayment obligation on the part of the issuer 

  

 13 

 
thereof, whether at the election of the holders or otherwise, and (2) (a) has no maturity or a maturity of at least 60 years and (b) is
subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant; or 
 (G)
other securities issued by the Company or its Subsidiaries that (1) rank upon a liquidation, dissolution or winding-up of the Company either (a) pari passu with or junior to the Notes or (b) pari passu with the claims of
the Company’s trade creditors and junior to all of the Company’s long-term indebtedness for money borrowed (other than the Company’s long-term indebtedness for money borrowed from time to time outstanding that by its terms ranks
pari passu with such securities on a liquidation, dissolution or winding-up of the Company), and (2) either (a) have no maturity or a maturity of at least 40 years, are subject to Intent-Based Replacement Disclosure and have a
Mandatory Trigger Provision and a Ten-Year Optional Deferral Provision or (b) have no maturity or a maturity of at least 25 years, are subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant and have
a Mandatory Trigger Provision and a Ten-Year Optional Deferral Provision; or 
 (iii) in connection with any repayment,
redemption or purchase of Notes after the date that is 30 years prior to the Final Maturity Date: 
 (A) all
securities described under clauses (i) or (ii) of this definition; 
 (B) preferred stock issued by
the Company that (1) has no maturity or a maturity of at least 60 years and is subject to Intent-Based Replacement Disclosure and (2) has an Optional Deferral Provision or a Ten-Year Optional Deferral Provision; 
 (C) securities issued by the Company or its Subsidiaries that (1) rank pari passu with or junior to the Notes
upon a liquidation, dissolution or winding-up of the Company, (2) either (a) have no maturity or a maturity of at least 60 years and are subject to Intent-Based Replacement Disclosure or (b) have no maturity or a maturity of at least
30 years and are subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant and (3) have an Optional Deferral Provision or a Ten-Year Optional Deferral Provision; 
 (D) securities issued by the Company or its Subsidiaries that (1) would rank junior to all of the senior and
subordinated debt of the Company other than the Notes, (2) have a Mandatory Trigger Provision and a Ten-Year Optional Deferral Provision and (3) have no maturity or a 

  

 14 

 
maturity of at least 30 years and are subject to Intent-Based Replacement Disclosure; or 
 (E) cumulative preferred stock issued by the Company or its Subsidiaries that either (1) has no maturity or a
maturity of at least 60 years and is subject to Intent-Based Replacement Disclosure or (2) has a maturity of at least 40 years and is subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant.

 “Qualifying Non-Cumulative Preferred Stock” means non-cumulative perpetual preferred stock of the Company
or its Subsidiaries that ranks pari passu with or junior to other preferred stock of the issuer, and is either (a) subject to a replacement capital covenant substantially similar to the Replacement Capital Covenant or (b) has a
Mandatory Trigger Provision and is subject to Intent-Based Replacement Disclosure and contains no remedies other than Permitted Remedies. 
 “Qualifying Securities” means Common Stock, Qualifying Warrants, Perpetual Non-Cumulative Preferred Stock and Mandatorily Convertible Preferred Stock; provided that the Company may, without the
consent of Holders of the Notes, amend this definition to eliminate Common Stock, Qualifying Warrants and/or Mandatorily Convertible Preferred Stock from this definition if the Company has been advised in writing by a nationally recognized
independent accounting firm that there is more than an insubstantial risk that the failure to do so would result in a reduction of earnings per share as calculated for financial reporting purposes. 
 “Qualifying Warrants” means net share settled warrants to purchase Common Stock that have an exercise price greater than
the Current Market Price of Common Stock as of their date of issuance, that the Company is not entitled to redeem for cash and that the holders of such warrants are not entitled to require the Company to repurchase for cash in any circumstance.

 “Quarterly Interest Payment Date” has the meaning set forth in Section 2.01(g). 
 “Rating Agency Event” with respect to the Notes means a change in the methodology employed by any NRSRO that currently
publishes a rating for the Company in assigning equity credit to securities such as the Notes, as such methodology is in effect on May 14, 2007 (the “Current Criteria”), which change results in (i) any shortening of the
length of time for which such equity credit is scheduled to be in effect with respect to the Notes, or (ii) a lower equity credit being assigned by such NRSRO to the Notes as of the date of such change than the equity credit that would have
been assigned to the Notes as of the date of such change by such NRSRO pursuant to its Current Criteria. For the avoidance of doubt, a Rating Agency Event will not have occurred if at any future date the 

  

 15 

 
equity credit given to the Notes is reduced solely due to a failure to extend the Scheduled Redemption Date or the Final Maturity Date of the Notes.

 “RCC Alternative Payment Mechanism” has the meaning given to the term “Alternative Payment Mechanism”
in the Replacement Capital Covenant. 
 “Redemption Price” means the price at which the Notes are to be
redeemed, as specified herein. 
 “Reference Treasury Dealer” means (1) Morgan Stanley & Co.
Incorporated and its successors, provided, however, that if the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) the Company shall substitute therefor
another Primary Treasury Dealer and (2) any other Primary Treasury Dealers selected by the Premium Calculation Agent after consultation with the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Early Redemption Date, the average, as determined by the Premium Calculation
Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Premium Calculation Agent at 5:00 p.m., New York City time, on the third Business Day
preceding such redemption date. 
 “Regular Record Date” for the interest payable on any Interest Payment
Date with respect to the Notes means (i) in the case of Notes represented by one or more Global Securities, the Business Day preceding such Interest Payment Date and (ii) in the case of Notes not represented by one or more Global
Securities, the date which is fifteen calendar days next preceding such Interest Payment Date (whether or not a Business Day). 
 “Repayment Date” has the meaning set forth in Section 2.01(f)(ii). 
 “Replacement Capital Covenant” means the Replacement Capital Covenant, dated as of May 18, 2007, of the Company, without giving any effect to any amendment or supplement thereto. 
 “Replacement Capital Obligation” has the meaning set forth in Section 2.01(f)(ii). 
 “Replacement Capital Securities” means, 
  

	 	 (i)
	 Common Stock and rights to acquire Common Stock; 

  

	 	 (ii)
	 Mandatorily Convertible Preferred Stock; 

  

	 	 (iii)
	 Debt Exchangeable for Common Equity; 

  

 16 

	 	 (iv)
	 Debt Exchangeable for Preferred Equity; and 

  

	 	 (v)
	 Qualifying Capital Securities. 

 “Scheduled Redemption Date” means, initially, May 15, 2037, subject to extension pursuant to Section 2.01(e). 
 “Semi-Annual Interest Payment Date” has the meaning set forth in Section 2.01(g). 
 “Share Cap” has the meaning set forth in Section 2.01(j)(ii). 
 “Special Event Make-Whole Price” means, for any Early Redemption Date, the sum, as calculated by the Premium Calculation Agent, of the present values of the outstanding principal (discounted from
May 15, 2037) and remaining scheduled payments of interest that would have been payable to and including May 15, 2037 (discounted from their respective Interest Payment Dates) on the Notes to be redeemed (not including any portion of such
payments of interest accrued to the Early Redemption Date) to the Early Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, plus accrued and unpaid interest
on the principal amount being redeemed to the Early Redemption Date. 
 “Supplemental Notice” has the
meaning set forth in Section 3.03. 
 “Tax Event” means that the Company has requested and received an
Opinion of Counsel experienced in such matters to the effect that, as a result of any: 
 (a) amendment to or change in the
laws or regulations of the United States or any political subdivision or taxing authority of or in the United States that is enacted or becomes effective after May 18, 2007, the date of initial issuance of the Notes; 
 (b) proposed change in those laws or regulations that is announced after May 18, 2007, the date of initial issuance of the Notes;

 (c) official administrative decision or judicial decision or administrative action or other official pronouncement
interpreting or applying those laws or regulations that is announced after May 18, 2007, the date of initial issuance of the Notes; or 
 (d) threatened challenge asserted in connection with an audit of the Company or its Subsidiaries, or a threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance
of securities that are substantially similar to the Notes, which challenge becomes publicly known or 

  

 17 

 
otherwise becomes widely known to tax practitioners after May 18, 2007, the date of initial issuance of the Notes, there is more than an insubstantial
risk that interest payable by the Company on the Notes is not, or will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes. 
 “Ten-Year Optional Deferral Provision” means, as to any securities, a provision in the terms thereof or of the related transaction agreements to the effect that the issuer of
such securities thereof may, in its sole discretion, defer in whole or in part payment of Distributions on such securities for one or more consecutive Distribution Periods of up to ten years without any remedy other than Permitted Remedies.

 “Three-month LIBOR” means, with respect to any Interest Period from and including May 15, 2037, the
rate (expressed as a percentage per annum) for deposits in U.S. dollars for a three-month period commencing on the first day of that Interest Period ending on the next Interest Payment Date (for the purposes of this definition, the “Relevant
Period”) that appears on Reuters Page LIBOR01 as of 11:00 a.m. (London time) on the LIBOR determination date for that Interest Period. If such rate does not appear on Reuters Page LIBOR01 as of 11:00 a.m. (London time) on the LIBOR
determination date for that interest period, three-month LIBOR shall be determined on the basis of the rates at which deposits in U.S. dollars for the Relevant Period and in a principal amount of not less than $1,000,000 are offered, at
approximately 11:00 a.m., London time on the LIBOR determination date to prime banks in the London interbank market by four major banks in the London interbank market selected by the Calculation Agent (after consultation with the Company) for that
Interest Period. The Calculation Agent shall request the principal London office of each of such banks to provide a quotation of its rate. If at least two such quotations are provided, three-month LIBOR with respect to that Interest Period shall be
the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, three-month LIBOR with respect to that Interest Period shall be the arithmetic mean (rounded
upward if necessary to the nearest whole multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Calculation Agent (after consultation with the Company), at approximately 11:00 a.m., New York City time, on the
first day of that Interest Period for loans in U.S. dollars to leading European banks for the Relevant Period and in a principal amount of not less than $1,000,000. However, if fewer than three banks selected by the Calculation Agent to provide
quotations are quoting as described above, three-month LIBOR for that Interest Period shall be the same as three-month LIBOR as determined for the previous Interest Period or, in the case of the Interest Period commencing on May 15, 2037, the
interest rate on the Notes shall be 6.75%. The establishment of three-month LIBOR for each Interest Period commencing on or after May 15, 2037 by the Calculation Agent shall (in the absence of manifest error) be final and 

  

 18 

 
binding. For purposes of this definition, “London banking day” means any day on which commercial banks are open for general business
(including dealings in deposits in U.S. dollars) in London, England; “LIBOR determination date” means the second London banking day immediately preceding the first day of the relevant Interest Period; and “Reuters Page
LIBOR01” means the display designated on page LIBOR01 on Reuters 3000 Xtra (or such other page as may replace the LIBOR01 page on the service or such other service as may be nominated by the British Bankers’ Association for the purpose
of displaying London interbank offered rates for U.S. Dollar deposits). 
 “Treasury Rate” means, with
respect to any Early Redemption Date, the yield, calculated on the third Business Day preceding the Early Redemption Date, under the heading that represents the average for the immediately preceding week, appearing in the most recently published
statistical release designated H.15(519) or any successor publication that is published weekly by the Board of Governors of the Federal Reserve System and that establishes yields on actively traded U.S. Treasury securities adjusted to constant
maturity under the caption Treasury Constant Maturities, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life (as defined under “Comparable Treasury
Issue” above), yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis,
rounding to the nearest month); or if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such date of redemption. 
 ARTICLE 2 
 TERMS
OF SERIES OF SECURITIES 
 Section 2.01. Terms of Series
of Securities. Pursuant to Sections 2.01 and 3.01 of the Indenture, there is hereby established a series of Securities, the terms of which shall be as follows: 
 (a) Designation. The Securities of this series shall be known and designated as the “6.75% Fixed-To-Floating Rate Junior Subordinated Notes” of the Company (the
“Notes”). 
 (b) Issue Price and Aggregate Principal Amount. The Notes shall be issued at a price of
99.848% per each $1,000 principal amount of the Notes. Notes in an initial aggregate principal amount of $400,000,000 shall, upon execution of this Supplemental Indenture, be executed by the Company and 

  

 19 

 
delivered to the Trustee or an Authenticating Agent for authentication, and the Trustee or an Authenticating Agent shall thereupon authenticate and deliver
said Notes in accordance with an order of the Company. Additional Notes may be issued pursuant to this Supplemental Indenture so long as such additional Notes are fungible for U.S. tax purposes with the Notes issued as of the date of this
Supplemental Indenture. Any additional Notes issued under this Supplemental Indenture will rank equally and ratably in right of payment with the Notes issued on the date of this Supplemental Indenture and together will be treated as a single series
of Notes. 
 (c) Denominations. The Notes shall be issued only in fully registered form, and the authorized
denominations of the Notes shall be $1,000 principal amount and any integral multiple thereof. 
 (d) Scheduled Redemption
Date and Final Maturity Date. Subject to Sections 2.01(e) and 2.01(f), the Company has agreed to repay the principal amount of the Notes, together with accrued and unpaid interest, on the Scheduled Redemption Date. Any principal amount of the
Notes, together with any accrued and unpaid interest, not repaid by the Final Maturity Date shall be due and payable on the Final Maturity Date. 
 (e) Extension of Scheduled Redemption Date and Final Maturity Date (i) The Company may elect to extend each of the Scheduled Redemption Date and the Final Maturity Date, in each case, up to two times in
10-year increments on either or both of May 15, 2017 and May 15, 2027 (each an “Extension Date”), and as a result the Scheduled Redemption Date may be extended to May 15, 2047 or May 15, 2057, and the Final
Maturity Date may be extended to May 15, 2077 or May 15, 2087, if on any Extension Date all of the following criteria are satisfied: 
 (A) on the applicable Extension Date the Notes are rated investment grade by Moody’s Investor Services, Inc. (“Moody’s”) or Standard & Poor’s, a division
of The McGraw-Hill Companies, Inc. (“S&P”), or, if Moody’s and S&P (or their respective successors) are no longer in existence, the equivalent rating by an NRSRO; 
 (B) during the three years prior to the applicable Extension Date (1) no event of default has occurred in respect of
any of the Company’s then outstanding debt for money borrowed and (2) the Company did not have any outstanding deferred payments under any of the Company’s then outstanding preferred stock or debt for money borrowed; and 

(C) on the applicable Extension Date the Company delivered a written certification to the Trustee dated as of such

  

 20 

 
date stating that on the applicable Extension Date the Company (i) believes that the likelihood that it will elect to defer interest on the Notes is
remote, (ii) expects to make all required payments on the Notes in accordance with the terms of the Notes, and (iii) expects to be able to satisfy its obligations under the Replacement Capital Covenant. 
 (ii) To the extent the criteria of clause (e)(i) above are satisfied and the Company elects to extend the Scheduled
Redemption Date and/or the Final Maturity Date, from and after the applicable Extension Date, the Scheduled Redemption Date will be the Scheduled Redemption Date as so extended and the Final Maturity Date will be the Final Maturity Date as so
extended. No modification of the criteria of clause (e)(i) above will be effective against any Holder of Notes without such Holder’s consent. If the Scheduled Redemption Date or the Final Maturity Date would otherwise be a date that is not a
Business Day, such date will be postponed until the immediately succeeding Business Day. 
 (f) Repayment on the Scheduled
Redemption Date. (i) The Company shall repay the Notes on the Scheduled Redemption Date from and to the extent of the net proceeds raised from the issuance of Replacement Capital Securities on or before the Scheduled Redemption Date
pursuant to Section 2.01(f)(ii), and valuing, in the case of Mandatorily Convertible Preferred Stock, Debt Exchangeable for Common Equity, Debt Exchangeable for Preferred Equity or Qualifying Capital Securities, the net proceeds raised at 100%,
and in the case of Common Stock and rights to acquire Common Stock (including Common Stock and rights to acquire Common Stock issued pursuant to the Company’s reinvestment plan or employee benefit plans), the net proceeds raised at the
Applicable Percentage. If the Company has not raised sufficient net proceeds to repay the Notes in full on the Scheduled Redemption Date, it shall (i) not redeem the Notes except to the extent of the proceeds so raised and the unpaid amount
shall remain outstanding and (ii) continue to comply with Section 2.01(f)(ii). For the avoidance of doubt, a Repayment Date shall not constitute a Maturity for the purposes of Section 5.01(b) or 5.03(b) of the Indenture, unless the
Company has given notice to the Trustee fixing such date for redemption and stating that the Company has determined to treat that date as a Maturity, in which case such date shall constitute a Maturity for the Notes specified in the applicable
Notice of Repayment or Supplemental Notice, as the case may be. 
 (ii) The Company shall use its Commercially
Reasonable Efforts, subject to a Market Disruption Event, to raise sufficient net proceeds from the issuance of Replacement Capital Securities in a 180-day period ending on the date a Notice of Repayment is given pursuant to Section 3.03 to
permit repayment of the Notes Outstanding in full on the Scheduled Redemption Date (the “Replacement Capital Obligation”). If the Company has not raised sufficient net proceeds pursuant to the 

  

 21 

 
preceding sentence to permit repayment of all principal and accrued and unpaid interest on the Notes on the Scheduled Redemption Date, it shall not otherwise
redeem Notes in excess of the proceeds allocated to the Notes as provided below, the unpaid amount shall remain outstanding from quarter to quarter and bear interest, payable, subject to Section 2.01(i) on the Quarterly Interest Payment Dates,
until repaid, and the Replacement Capital Obligation shall continue to apply to each subsequent Quarterly Interest Payment Date (substituting the relevant Quarterly Interest Payment Date for the Scheduled Redemption Date and a 90-day period for the
180-day period in the definition of “Replacement Capital Obligation”) (the Scheduled Redemption Date and each such subsequent Quarterly Interest Payment Date, a “Repayment Date”) and shall terminate (A) on the
Interest Payment Date on which the Company has redeemed the Notes in full in accordance with the Replacement Capital Obligation, (B) when the Notes are otherwise paid in full on the Final Maturity Date or (C) upon an Event of Default
resulting in acceleration of the Notes pursuant to Section 5.02 of the Indenture. Unless the Replacement Capital Obligation shall have terminated as aforesaid and except under the circumstances set forth in Section 2.01(f)(vii), the
Company’s failure to use Commercially Reasonable Efforts to raise sufficient proceeds from the issuance of Replacement Capital Securities to redeem the Notes in full in connection with the redemption of the Notes on a Repayment Date shall
constitute a default under the Indenture, but shall in no event constitute an Event of Default. Notwithstanding anything to the contrary in the Indenture or this Supplemental Indenture, the Trustee shall have no obligation to exercise any remedies
with respect to any such default unless directed to do so in accordance with and subject to the conditions set forth in Sections 5.12 and 6.03(e) of the Indenture. The Trustee may conclusively assume that the Replacement Capital Obligation has been
complied with unless the Company or the Holders of 25% in aggregate principal amount of the Notes have given the Trustee notice to the contrary. The Company may modify or terminate the Replacement Capital Obligation only in accordance with
Section 9.02 of the Indenture except that the Company may amend the Replacement Capital Obligation at any time in accordance with Section 9.01 of the Indenture, (A) where such amendment is not adverse to the Holders of the Notes and
the Company has delivered to such Holders and the Trustee an Officers’ Certificate stating that such amendment is not adverse to such Holders, (B) to impose additional restrictions on the types of securities qualifying as Replacement
Capital Securities, and the Company has delivered to such Holders and the Trustee an Officers’ Certificate to that effect or (C) to eliminate Common Stock and/or Mandatorily Convertible Preferred Stock, as securities the proceeds of which
may be included for purposes of the Replacement Capital Obligation if, in the case of this clause (C), the Company has been advised in writing by a nationally recognized 

  

 22 

 
independent accounting firm that there is more than an insubstantial risk that the failure to do so would result in a reduction in the Company’s
earnings per share as calculated for financial reporting purposes. 
 (iii) Notwithstanding anything to the
contrary in this Supplemental Indenture, if the Company redeems the Notes pursuant to this Section 2.01(f) or Section 2.01(m) when any deferred interest remains unpaid and at a time when the Alternative Payment Mechanism is otherwise
applicable, the unpaid deferred interest (including Additional Interest thereon) may only be paid pursuant to the Alternative Payment Mechanism. 
 (iv) Any principal amount of the Notes, together with accrued and unpaid interest, shall be due and payable on the Final Maturity Date, regardless of the amount of Replacement Capital Securities
the Company has issued and sold by that time. 
 (v) If any date fixed for redemption or repayment pursuant to
this Section 2.01(f) is not a Business Day, then payment of the Redemption Price or repayment of the principal amount of the Notes due on that date shall be made on the next day that is a Business Day, without any interest or other payment as a
result of such delay. 
 (vi) “Commercially Reasonable Efforts” to sell Replacement Capital
Securities means commercially reasonable efforts by the Company to complete the offer and sale of Replacement Capital Securities to third parties that are not Subsidiaries of the Company in public offerings or private placements. The Company shall
not be considered to have made Commercially Reasonable Efforts to effect a sale of Replacement Capital Securities if it determines not to pursue or complete the sale of Replacement Capital Securities due to pricing, coupon, dividend rate or dilution
considerations. 
 (vii) The Company shall not be required to redeem the Notes on any Repayment Date, and such
failure to redeem shall not constitute a default, to the extent of the net proceeds the Company was not able to raise as a result of the occurrence of a Market Disruption Event. The Company shall deliver to the Trustee an Officer’s Certificate
(which the Trustee shall promptly forward upon receipt to each Holder of the Notes) on the date the related Notice of Repayment pursuant to Section 3.03 is given, or prior to the date the related Notice of Repayment required by
Section 3.03 would have been given, certifying that: 
 (A) a Market Disruption Event was existing during
the 180-day period preceding the date of such certificate or, in the 

  

 23 

 
case of any Quarterly Interest Payment Date, the 90-day period preceding the date of such certificate; and 
 (B) either (1) the Market Disruption Event continued for the entire 180-day period or 90-day period, as the case may
be, or (2) the Market Disruption Event continued for only part of the period, but the Company was unable after Commercially Reasonable Efforts to raise sufficient net proceeds during the rest of that period to permit repayment of the Notes in
full. 
 (viii) Net proceeds that the Company is permitted to apply to repayment of the Notes on the Repayment
Dates pursuant to Section 2.01(f)(i) above shall be applied, first, to pay deferred interest in chronological order to the extent of Eligible Proceeds under the Alternative Payment Mechanism (the amount thereof to be certified by the Company to
the Trustee in an Officers’ Certificate), second, to pay current interest that the Company is not paying from other sources and, third, to repay the principal of the Notes; provided, that if the Company raises less than $5 million of net
proceeds from the sale of Replacement Capital Securities during the applicable 180- or 90-day period preceding the date the applicable Notice of Repayment is given pursuant to Section 3.03, the Company shall deliver the Trustee an
Officers’ Certificate to such effect and the Company shall not be required to repay any Notes on such Repayment Date, but the Company shall use those net proceeds to repay the Notes on the next Repayment Date as of which the Company has raised
at least $5 million of net proceeds; provided, further, that if the net proceeds allocable to repay the principal of the Notes shall not be divisible by the authorized denominations of the Notes into a whole number, the net proceeds so
allocable shall be deemed to be equal to the next lower amount divisible by such authorized denominations into a whole number; provided, further, that if the Company is obligated to use Commercially Reasonable Efforts to sell
Replacement Capital Securities and apply the net proceeds to payments of principal of or interest on any outstanding securities in addition to the Notes and the Company shall deliver the Trustee an Officers’ Certificate to such effect, then on
any date and for any period the amount of net proceeds received by the Company from those sales and available for such payments shall be applied to the Notes and those other securities having the same scheduled repayment date or scheduled redemption
date as the Notes pro rata in accordance with their respective outstanding principal amounts and none of such net proceeds shall be applied to any other securities having a later scheduled repayment date or scheduled redemption date until the
principal of and all accrued and unpaid interest on the Notes has been paid in full. 
 (ix) In the event the
Company has delivered a notice to the Trustee pursuant to Section 3.01 in connection with any Repayment Date, 

  

 24 

 
the principal amount of Notes payable on such Repayment Date, if any, shall be the principal amount set forth in the Notice of Repayment accompanying such
notice and such principal amount of Notes shall be repaid on such Repayment Date pursuant to Article 3, subject to this Section 2.01(f). 
 (x) The obligation of the Company to repay the Notes pursuant to this Section 2.01(f) on any date prior to the Final Maturity Date shall be subject to its obligations under Article 13 of the
Indenture to the holders of Senior Indebtedness. 
 (g) Rate of Interest. Interest on the Notes shall accrue from the
most recent Interest Payment Date to which interest has been paid or duly provided for, or if no interest has been paid or duly provided for, from May 18, 2007. The Notes shall bear interest (i) from and including May 18, 2007 to but
excluding May 15, 2037 at the annual rate of 6.75%, computed on the basis of a 360-day year comprised of twelve 30-day months and (ii) from and including May 15, 2037 at an annual rate equal to Three-month LIBOR plus 2.33%, computed
on the basis of a 360-day year and the actual number of days elapsed. Subject to Section 2.01(i) and Section 2.01(j), interest on the Notes shall be payable in cash (i) semi-annually in arrears on May 15 and November 15 of
each year, commencing on November 15, 2007, until May 15, 2037 (each such date, a “Semi-Annual Interest Payment Date”) and (ii) quarterly in arrears on May 15, August 15, November 15 and
February 15, commencing August 15, 2037 until the Final Maturity Date (each such date, a “Quarterly Interest Payment Date”). Any installment of interest (or portion thereof) deferred in accordance with Section 2.01(i)
or otherwise unpaid shall bear interest, to the extent permitted by law, at the rate of interest then in effect on the Notes, from the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date, until paid in accordance with
Section 2.01(j). If any Semi-Annual Interest Payment Date would otherwise fall on a day that is not a Business Day, the interest payment due on that date shall be postponed to the next day that is a Business Day and no interest shall accrue as
a result of that postponement. If any Quarterly Interest Payment Date is not a Business Day, the Quarterly Interest Payment Date shall be postponed to the following Business Day unless such Business Day would fall in the next calendar month, in
which case the Quarterly Interest Payment Date shall be the preceding Business Day. However, if any Quarterly Interest Payment Date falls on a date fixed for early redemption, or other redemption or repayment, and such day is not a Business Day, the
interest payment due on that date shall be postponed to the next day that is a Business Day and no interest shall accrue as a result of that postponement. 
 (h) To Whom Interest is Payable. Interest shall be payable on each Interest Payment Date to each Person in whose name the Notes are registered at the close of business on the Regular Record Date for such
Interest Payment Date, except that (i) interest payable on any Notes on any Repayment Date or 

  

 25 

 
Redemption Date and (ii) interest payable on the Final Maturity Date shall be paid to the Person to whom principal is paid. 
 (i) Option to Defer Interest Payments. (i) So long as no Event of Default with respect to the Notes has occurred and is
continuing, the Company may, on one or more occasions, elect to defer payment of interest on the Notes for a period of up to ten years without giving rise to an Event of Default and without permitting acceleration of the Notes. The Company may not
defer interest beyond the earlier to occur of (A) the Final Maturity Date or (B) the earlier repayment or redemption in full of all the then outstanding Notes. Deferred interest on the Notes shall accrue at the then-applicable interest
rate on the Notes, compounded on each Interest Payment Date, subject to applicable law. 
 (ii) A
“Deferral Period” with respect to the Notes refers to the period beginning on an Interest Payment Date with respect to which the Company elects to defer interest and ending on the earlier of (i) the tenth anniversary of that
Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all deferred interest (including compounded amounts thereon) and all other accrued and unpaid interest on the Notes. 
 (iii) Immediately following the earlier of (A) the Business Day immediately following the first Interest Payment Date
during a Deferral Period on which the Company elects to pay current interest and (B) the fifth anniversary of the beginning of the relevant Deferral Period (such earlier date, an “APM Commencement Date”), unless the Company has
delivered to the Trustee notice of a Market Disruption Event, the Company shall be required to use Commercially Reasonable Efforts to sell Qualifying Securities pursuant to the Alternative Payment Mechanism, subject to the Common Equity Issuance
Cap, the Preferred Stock Issuance Cap and the Share Cap, and to apply the Eligible Proceeds to the payment of any deferred interest (and Additional Interest thereon) on the next Interest Payment Date. This requirement shall continue in effect until
the end of the Deferral Period. The Company shall not pay deferred interest on the Notes (and Additional Interest thereon) prior to the Final Maturity Date from any source other than Eligible Proceeds, unless the principal amount of the Notes has
been accelerated and such acceleration has not been rescinded or, in the case of a business combination, to the extent described in clause (v) below. The Company may pay current interest at all times from any available funds. 
 (iv) The Company’s failure to pay interest on the Notes in accordance with the Alternative Payment Mechanism as
required by this Supplemental Indenture shall constitute a default under the Indenture, but shall in no event constitute an Event of Default. Notwithstanding anything to the contrary in the Indenture or this Supplemental Indenture, the Trustee

  

 26 

 
shall have no obligation to exercise any remedies with respect to any such default unless directed to do so in accordance with and subject to the conditions
set forth in Sections 5.12 and 6.03(e) of the Indenture. The Trustee may conclusively assume that the Alternative Payment Mechanism has been complied with unless the Company or the Holders of 25% in aggregate principal amount of the Notes have given
the Trustee notice to the contrary. 
 (v) If the Company is involved in a business combination with a third
party where immediately after the consummation of such combination more than 50% of the surviving entity’s voting stock is owned by shareholders of the other party to the business combination, then the Alternative Payment Mechanism shall not
apply to any outstanding deferred interest as of the date of consummation of the business combination if the Deferral Period is terminated on the next Interest Payment Date immediately following such combination. The Alternative Payment Mechanism
shall apply, however, to any interest on the Notes that is deferred after such date. 
 (vi) To the extent
that the Company applies Eligible Proceeds from the sale of Qualifying Securities to pay interest, the Company shall allocate the proceeds to pay deferred interest (and Additional Interest thereon) in chronological order based on the date each
payment was first deferred. 
 (vii) At the end of a 10-year Deferral Period, the Company must pay all accrued
and unpaid deferred interest, and the failure to pay all accrued and unpaid deferred interest at the conclusion of such 10-year Deferral Period shall, after the lapse of 30 days immediately following the last day of such 10-year Deferral Period,
constitute an Event of Default permitting acceleration of the Notes. If the Company shall have paid all deferred interest, the Company may at any time start a new Deferral Period. 
 (viii) The Company shall give written notice to the Trustee and the Holders of Notes for each Interest Payment Date on
which payment of interest will be deferred not less than 1 nor more than 60 Business Days prior to the Regular Record Date for such Interest Payment Date. However, the failure of the Company to pay interest on the Notes on any Interest Payment Date
shall itself constitute the commencement of a Deferral Period unless the Company pays such interest within five Business Days after the Interest Payment Date, whether or not it provides a notice of deferral. 
 (ix) So long as any Notes remain Outstanding during any Deferral Period, the Company shall not, and shall not permit any
of its 

  

 27 

 
Subsidiaries to (A) declare or pay any dividends or Distributions on, or redeem, purchase, acquire or make a liquidation payment on, any shares of the
Company’s capital stock, (B) make any payment of principal of, or interest or premium, if any, on, or repay, repurchase or redeem any of the Company’s securities that rank pari passu with the Notes (“Parity
Securities”) or junior to the Notes or (C) make any guarantee payment with respect to any guarantee by the Company of securities of any of its Subsidiaries if such guarantee ranks pari passu with the Notes (“Parity
Guarantees”) or junior to the Notes. However, at any time, including during any Deferral Period, the Company shall be permitted to: (A) pay dividends or Distributions to common shareholders in the form of additional shares of Common
Stock; (B) declare or pay a dividend in connection with the implementation of a shareholders’ rights plan, or issue stock under such a plan, or redeem or repurchase any rights distributed pursuant to such a plan; (C) purchase Common
Stock for issuance pursuant to any employee benefit plans; (D) make payments of current or deferred interest in respect of Parity Securities that are made pro rata in respect of the amounts due on such Parity Securities and the Notes
(provided that such payments are made in accordance with clause 2.01(j)(iii) to the extent it applies) and make payments of deferred interest on Parity Securities that, if not made, would cause the Company to breach the terms of the instrument
governing such Parity Securities; and (E) make payments of principal in respect of Parity Securities having an earlier Scheduled Redemption Date than the Notes, as required under a provision of such Parity Securities that is substantially the
same as the Replacement Capital Obligation and make payments in respect of Parity Securities having the same Scheduled Redemption Date as the Notes, as required by such a provision, that are made on a pro rata basis among one or more series
of Parity Securities having such a provision and the Notes. In addition, if any Deferral Period lasts longer than one year, the Company shall not, subject to the limited exceptions set forth in this Section 2.01(i)(ix) and unless required to do
so by any applicable regulatory authority, repurchase, or permit its Subsidiaries to purchase, any of the Company’s securities ranking junior to or pari passu with any Qualifying Securities the proceeds of which were used to settle
deferred interest during the relevant Deferral Period for a one-year period following the date on which all deferred interest has been paid pursuant to the Alternative Payment Mechanism. If the Company is involved in a business combination with a
third party where immediately after the consummation of such combination more than 50% of the surviving entity’s voting stock is owned by the shareholders of the other party to the business combination, then the immediately preceding sentence
shall not apply to any Deferral Period that is terminated on the next Interest Payment Date immediately following such combination. 
  

 28 

 (j) Alternative Payment Mechanism. (i) Subject to the occurrence of a Market
Disruption Event, if the Company defers interest on the Notes, it shall be required beginning on the relevant APM Commencement Date to use Commercially Reasonable Efforts to sell Qualifying Securities until the Company has raised an amount of
Eligible Proceeds that is sufficient to pay all deferred interest (and Additional Interest thereon) accrued up to such Interest Payment Date. The Company shall not pay deferred interest (and Additional Interest thereon) on the Notes prior to the
Final Maturity Date from any source other than Eligible Proceeds, unless otherwise required at the time by any applicable regulatory authority. This method of funding the payment of accrued and unpaid interest is referred to as the
“Alternative Payment Mechanism.” 
 (ii) Under the Alternative Payment Mechanism, the Company
shall not issue Common Stock or Qualifying Warrants for the purposes of the Alternative Payment Mechanism prior to the fifth anniversary of the commencement of any Deferral Period if the number of shares of Common Stock issued or issuable upon the
exercise of such Qualifying Warrants plus the number of shares of Common Stock previously issued or issuable upon the exercise of previously issued Qualifying Warrants during such Deferral Period, would exceed 2% of the total number of issued and
outstanding shares of Common Stock as of the date of the Company’s then most recent publicly available consolidated financial statements (the “Common Equity Issuance Cap”). In addition, the Company shall not issue Perpetual
Non-Cumulative Preferred Stock or Mandatorily Convertible Preferred Stock for the purposes of the Alternative Payment Mechanism to the extent that the net proceeds of any issuance of Perpetual Non-Cumulative Preferred Stock or Mandatorily
Convertible Preferred Stock applied to pay deferred interest on the Notes, together with the net proceeds of all prior issuances of Perpetual Non-Cumulative Preferred Stock and unconverted Mandatorily Convertible Preferred Stock so applied, would
exceed 25% of the aggregate principal amount of the Notes Outstanding (the “Preferred Stock Issuance Cap”). Once the Company reaches the Common Equity Issuance Cap for any Deferral Period, it may not issue more Common Stock or
Qualifying Warrants prior to the fifth anniversary of the commencement of such Deferral Period pursuant to the Alternative Payment Mechanism even if there is a subsequent increase in the number of outstanding shares of Common Stock. The Common
Equity Issuance Cap shall cease to apply following the fifth anniversary of the commencement of any Deferral Period, at which point the Company must pay any deferred interest, regardless of the time at which it was deferred (other than on the Final
Maturity Date), using the Alternative Payment Mechanism, subject to the Preferred Stock Issuance Cap, the Share Cap and any Market Disruption Event. If the Common Equity Issuance Cap has been reached during a Deferral Period and the Company
subsequently pays all deferred payments 

  

 29 

 
(and Additional Interest thereon) prior to the fifth anniversary of such Deferral Period, the Common Equity Issuance Cap shall cease to apply, and shall only
apply again once the Company starts a new Deferral Period. The Preferred Stock Issuance Cap shall apply so long as the Notes remain Outstanding and all proceeds of issuances of Perpetual Non-Cumulative Preferred Stock and unconverted Mandatorily
Convertible Preferred Stock used to pay deferred interest hereunder shall count against such cap. The Company shall not issue Common Stock, Qualifying Warrants or Mandatorily Convertible Preferred Stock for the purposes of the Alternative Payment
Mechanism if the number of shares of Common Stock issued or issuable upon the exercise of such Qualifying Warrants or the conversion of such Mandatorily Convertible Preferred Stock plus the number of shares of Common Stock previously issued or
issuable upon the exercise of previously issued Qualifying Warrants or the conversion of such Mandatorily Convertible Preferred Stock, exceeds 15 million shares (the “Share Cap”). The Share Cap shall apply so long as the Notes
remain Outstanding, other than on the Final Maturity Date. The Company shall use commercially reasonable efforts to increase the Share Cap from time to time (without having to comply with Article 9 of the Indenture) to a number of shares of Common
Stock that would allow it to satisfy its obligations with respect to the Alternative Payment Mechanism by delivering to the Trustee an Officers’ Certificate setting forth the increased Share Cap. The Share Cap shall be adjusted proportionately
for any change in the number of outstanding shares of Common Stock by reason of any stock split, reverse stock split, stock dividend, reclassification, recapitalization, split-up, combination, exchange of shares or other similar transaction,
effective upon the effective date of any such transaction. 
 (iii) If, due to a Market Disruption Event or
otherwise, the Company were able to raise some, but not all, Eligible Proceeds necessary to pay all deferred interest (including Additional Interest thereon) on any Interest Payment Date, the Company shall apply any available Eligible Proceeds to
pay accrued and unpaid interest on the applicable Interest Payment Date in chronological order based on the date each payment was first deferred, subject, if applicable, to the Common Equity Issuance Cap, the Preferred Stock Issuance Cap and the
Share Cap. If the Company shall have outstanding Parity Securities under which the Company is obligated to sell Qualifying Securities and apply the net proceeds to the payment of deferred interest or Distributions and the Company shall deliver to
the Trustee an Officers’ Certificate to such effect, then on any date and for any period the amount of net proceeds received by the Company from those sales and available for payment of the deferred interest and Distributions shall be applied
to the Notes and those other Parity Securities on a pro rata basis in proportion to the total amounts that are 

  

 30 

 
due on the Notes and such other Parity Securities, or on such other basis as any applicable regulator may approve. 
 (iv) The Company shall be relieved of its obligations under the Alternative Payment Mechanism in respect of any Interest
Payment Date if it delivers an Officers’ Certificate to the Trustee (which the Trustee shall promptly forward upon receipt to each Holder of the Notes) no more than 30 and no less than 5 Business Days in advance of that Interest Payment Date
certifying that a Market Disruption Event was existing after the immediately preceding Interest Payment Date; and either: 
 (1) the Market Disruption Event continued for the entire period from the Business Day immediately following the preceding Interest Payment Date to the Business Day immediately preceding the date on which such
certification is provided; or 
 (2) the Market Disruption Event continued for only part of this period, but
the Company was unable after using Commercially Reasonable Efforts to raise sufficient Eligible Proceeds during the rest of that period to pay all accrued and unpaid interest. 
 “Commercially Reasonable Efforts” to sell securities in accordance with the Alternative Payment Mechanism
means commercially reasonable efforts to complete the offer and sale of Qualifying Securities to third parties that are not Subsidiaries of the Company in public offerings or private placements. The Company shall not be relieved of its obligations
under the Alternative Payment Mechanism if it determines not to pursue or complete the sale of Qualifying Securities solely due to pricing, dividend rate or dilution considerations. 
 (k) Events of Default. Solely for purposes of the Notes, Section 5.01 of the Indenture shall be deleted and replaced by the
following: 
 SECTION 5.01. Events of Default. 
 “Event of Default”, wherever used herein with respect to the Notes, means each one of the following
events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any
order, rule or regulation of any administrative or governmental body): 
 (a) default in the payment of
interest (including Additional Interest), in full on any Note for a period of 30 days after the conclusion of a 10-year period following the commencement of any Deferral Period; 
  

 31 

 (b) the failure to pay the principal of any Notes when due and payable,
whether at the Final Maturity Date, upon redemption (which, unless otherwise specified by the Company, will not include the Scheduled Redemption Date), upon a declaration of acceleration or otherwise; 
 (e) the entry of a decree or order by a court having jurisdiction in the premises adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law, or
appointing a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property or ordering the winding up or liquidation of its affairs, and the continuance of any such decree
or order unstayed and in effect for a period of 60 consecutive days; or 
 (f) the institution by the Company
of proceedings to be adjudicated a bankrupt or insolvent, or the consent by it to the institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law, or the consent by it to the filing of any such petition or to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due and its
willingness to be adjudicated a bankrupt, or the taking of corporate action by the Company in furtherance of any such action. 
 For the avoidance of doubt, and without prejudice to any other remedies that may be available to the Trustee or the Holders of the Notes under the Indenture, no breach by the Company of any other covenant or
obligation under the Indenture, the Supplemental Indenture or the terms of the Notes shall be an Event of Default with respect to the Notes. 
 (l) Acceleration of Maturity; Rescission and Annulment. Solely for purposes of the Notes, Section 5.02 of the Indenture shall be deleted and replaced by the following: 
 SECTION 5.02. Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default (other than an Event of Default under Section 5.01(e) or (f)) occurs and is continuing, then
in every such case the Trustee or the Holders of not less than 25% in principal amount of the 

  

 32 

 
Notes may declare the principal amount of all of the Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if
given by Holders), and upon any such declaration such principal amount shall become immediately due and payable. 
 In case of an Event of Default under Section 5.01(e) or (f) which occurs and is continuing with respect to the Notes, then all unpaid principal of and accrued interest on all of the Notes shall become immediately due and payable
without any notice or other action on the part of the Trustee or the Holders. 
 At any time after such a
declaration of acceleration with respect to the Notes has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as provided in Article Five of the Indenture, the Holders of a majority in aggregate
principal amount of the Notes, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 
 (a) the Company has paid or deposited with the Trustee a sum sufficient to pay: 
 (i) all overdue interest on all Notes , 
 (ii) the principal of (and
premium, if any, on) the Notes which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in the Notes, 
 (iii) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates
prescribed therefor in the Notes, and 
 (iv) all sums paid or advanced by the Trustee and any predecessor
Trustee hereunder and all sums due the Trustee and any predecessor Trustee under Section 6.07; and 
 (b)
all Events of Default with respect to the Notes, other than the non-payment of the principal of the Notes which has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 
 No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 
  

 33 

 (m) Redemption. (i) Subject to obtaining any then-required regulatory
approval, the Notes are redeemable (A) in whole or in part, at any time on or after May 15, 2037 at their principal amount plus accrued and unpaid interest to the date of redemption, provided that in the event of a redemption in
part that the principal amount outstanding after such redemption is at least $50,000,000; (B) in whole or in part, prior to May 15, 2037, in cases not involving a Tax Event or Rating Agency Event, at their principal amount plus accrued and
unpaid interest to the date of redemption or, if greater, the Make-Whole Price, provided that in the event of a redemption in part the principal amount outstanding after such redemption is at least $50,000,000; and (C) in whole, but not
in part, prior to May 15, 2037, within 90 days after the occurrence of a Tax Event or Rating Agency Event, at their principal amount plus accrued and unpaid interest to the date of redemption or, if greater, the Special Event Make-Whole Price.

 (ii) If any date fixed for redemption pursuant to this clause (l) is not a Business Day, then payment
of the Redemption Price shall be made on the next day that is a Business Day, without any interest or other payment for the delay. 
 (iii) The Make-Whole Price and the Special Event Make-Whole Price shall be determined on the third Business Day prior to the applicable Redemption Date. The Company shall notify the Trustee of the Make-Whole Price or
the Special Event Make-Whole Price, as applicable, promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. Notwithstanding Section 11.04 of the Indenture, notice of redemption pursuant to this
clause (l) shall be given not more than 30 nor less than 15 days prior to the Redemption Date. 
 (n) Limitation on
Claims in the Event of Bankruptcy, Insolvency or Receivership. Each Holder, by such Holder’s acceptance of the Notes, agrees that if a Bankruptcy Event shall occur prior to the redemption or repayment of such Notes, such Holder shall only
have a claim for, and right to receive, deferred and unpaid interest (including Additional Interest thereon) that has not been paid prior to such event through the application of the Alternative Payment Mechanism to the extent such interest
(including Additional Interest thereon) relates to the earliest two years of the portion of the Deferral Period for which interest has not so been paid. 
 (o) Sinking Fund. The Notes shall not be subject to any sinking fund or similar provisions. 
 (p) Forms. The Notes shall be substantially in the form of Annex A attached hereto, with such modifications thereto as may be approved by the authorized officer executing the same and shall be issued in the form of one or more Global
Securities. The Depositary for such Global Securities shall be The Depository Trust Company. 
  

 34 

 (q) Subordination. The subordination provisions of Article 13 of the Indenture
shall apply. 
 (r) Defeasance. Section 4.01(1)(a)(ii)(y), Section 4.03 and Section 4.04 of the
Indenture shall not apply to the Notes. 
 (s) The Trustee shall be the Paying Agent and Security Registrar for the Notes and
the Corporate Trust Office shall be the initial Place of Payment. 
 ARTICLE 3 
 REPAYMENT OF THE NOTES 
 Section 3.01. Repayment. The Company shall, not more than 30 and not less than 15 days prior to each Repayment Date, notify the Trustee of the principal amount of Notes to be repaid on such date pursuant
to Section 2.01(f), which notice shall have attached thereto the Notice of Repayment, which shall be given by the Trustee to the Holders as soon as practicable thereafter. If the Company anticipates that it will repay the Notes in part, and not
in full, on any Repayment Date, the Company shall use its commercially reasonable efforts to deliver notice pursuant to this Section 3.01 to the Trustee 30 days prior to such Repayment Date. 
 Section 3.02. Selection of Securities To Be Repaid. If less than all the Notes are to be repaid on any Repayment Date (unless
such repayment affects only a single Note), the particular Notes to be repaid shall be selected not more than 30 days prior to such Repayment Date by the Trustee in accordance with Section 11.03 of the Indenture. 
 The Trustee shall promptly notify the Company in writing of the Notes selected for partial repayment and the principal amount thereof to
be repaid, it being understood that if the Notes are evidenced by one Global Security, no such notice shall be required. For all purposes hereof, unless the context otherwise requires, all provisions relating to the repayment of Notes shall relate,
in the case of any Note repaid or to be repaid only in part, to the portion of the principal amount of such Note which has been or is to be repaid. If the Company shall so direct, Notes registered in the name of the Company, any Affiliate or any
Subsidiary thereof shall not be included in the Notes selected for repayment. 
 Section 3.03. Notice of Repayment. Notice of repayment (each a “Notice of Repayment”) shall be given by first-class mail, postage prepaid, or by facsimile electronic transmission, mailed
or transmitted not more than 30 and not less than 5 days prior to the Repayment Date, to each Holder of the Notes to be repaid, at the address of such Holder as it appears in the Security Register; provided that if the Notice of Repayment has
been given prior to the 10th day prior to the Repayment Date, additional notices (each a “Supplemental
Notice”) may 

  

 35 

 
be given to the Holders specifying additional details relating to such repayment no later than the 10th day prior to the Repayment Date. 
 Each Notice of Repayment, to the extent not specified thereafter by any applicable Supplemental Notice, shall identify the Notes to be
repaid (including CUSIP number, if a CUSIP number has been assigned to the Notes) and shall state: 
 (a) the Repayment Date
and the price at which the Notes are to be repaid; 
 (b) if less than all Outstanding Notes are to be repaid, the
identification (and, in the case of partial repayment, the respective principal amounts) of the particular Notes to be redeemed; 
 (c) that on the Repayment Date, the principal amount of the Notes to be repaid shall become due and payable upon each such Note or portion thereof, and that interest thereon shall cease to accrue on and after said date; and 
 (d) the place or places where such Notes are to be surrendered for payment of the principal amount thereof. 
 Notice of Repayment shall be given by the Trustee in the name and at the expense of the Company and shall be irrevocable. The notice if
mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, a failure to give such notice by mail or any defect in the notice to the Holder of any Notes
designated for repayment as a whole or in part shall not affect the validity of the proceedings for the repayment of any other Notes. 
 Section 3.04. Deposit of Repayment Amount. Prior to 10:00 a.m. New York City time on the Repayment Date specified in the Notice of Repayment, the Company shall deposit with the Trustee or with one or more
Paying Agents (or if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 10.03 of the Indenture) an amount of money sufficient to pay the principal amount of, and any accrued
interest (including Additional Interest thereon) on, all the Notes which are to be repaid on that date. 
 Section 3.05. Payment of Notes Subject to Repayment. If any Notice of Repayment has been given, the Notes or portion of the Notes with respect to which such notice has been given, or if any Supplemental Notice is given which
identifies the particular Notes to be redeemed, the Notes or portion thereof so identified, shall become due and payable on the date and at the place or places stated in such notice. On presentation and surrender of such Notes at a Place of Payment
in said notice specified, the Notes or the specified portion thereof shall 

  

 36 

 
be paid by the Company at their principal amount, together with accrued interest (including any Additional Interest thereon) to the Repayment Date.

 Upon presentation of any Note repaid in part only, the Company shall execute and the Trustee shall authenticate and make
available for delivery to the Holder thereof, at the expense of the Company, a new Note or Notes, of authorized denominations, in aggregate principal amount equal to the portion of the Note not repaid and so presented and having the same date of
original issuance, Stated Maturity and terms. 
 If any Note called for repayment shall not be so paid upon surrender
thereof, the principal of such Note shall, until paid, bear interest from the Repayment Date at the rate prescribed therefore in the Note. 
 ARTICLE 4 
 SUPPLEMENTAL INDENTURES 
 Section 4.01. Supplemental Indentures Without Consent of Holders. Solely for purposes of the Notes, Section 9.01 of the
Indenture shall be deleted and replaced with the following: 
 SECTION 9.01. Supplemental Indentures Without Consent Of
Holders 
 Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any
time and from time to time, may supplement or amend the Indenture and this Supplemental Indenture for any of the following purposes: 
 (a) to evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company herein and in the Notes; 
 (b) to add to or modify the covenants of the Company for the benefit of the Holders of Notes or to surrender any right or power herein
conferred upon the Company; provided that no such amendment or modification may add Events of Default or acceleration events with respect to the Notes; 
 (c) to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent with any other provision contained
herein or in any supplemental indenture, or to make such other provisions in regard to matters or questions arising under the Indenture or this Supplemental Indenture, provided that no action under this clause (c) shall adversely affect the
interests of the Holders of Notes; provided, however, that any amendment made solely to conform the provisions of the Indenture and this Supplemental Indenture to the description of 

  

 37 

 
the Notes contained in the prospectus or other offering document pursuant to which the Notes were sold will not be deemed to adversely affect the interests
of the Holders of Notes; 
 (d) to modify or amend the Indenture and this Supplemental Indenture to permit the qualification
of the Indenture or any indentures supplemental hereto under the Trust Indenture Act; 
 (e) to add guarantees with respect
to the Notes; 
 (f) to evidence and provide for the acceptance of appointment hereunder by a successor or separate Trustee
with respect to the Notes or to add to or change any of the provisions of the Indenture and this Supplemental Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant
to the requirements of Section 6.11; and 
 (g) to increase the Share Cap. 
 Section 4.02 Supplemental Indentures With Consent of Holders. Solely for purposes of the Notes, Section 9.02 of the
Indenture shall be deleted and replaced with the following: 
 SECTION 9.02. Supplemental Indentures With Consent Of
Holders 
 Supplemental Indentures with Consent of Holders. With the consent of the Holders of at least a majority
in principal amount of the Notes, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture and this Supplemental Indenture or of modifying in any manner the rights of the Holders of Notes; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each Note Outstanding affected thereby: 
 (a) change the
Stated Maturity of the principal of any Outstanding Note, (except any extension pursuant to Section 2.01(e) of this Supplemental Indenture); 
 (b) reduce the rate of or extend the time for payment of interest thereon, (except pursuant to Section 2.01(i) of this Supplemental Indenture) or alter the manner of calculation of interest payable on the Notes;

 (c) reduce the principal amount of or premium, if any, on the Notes; 
 (d) make the principal of, premium, if any, or interest on the Notes payable in a different currency; 
  

 38 

 (e) reduce the percentage in principal amount of the Outstanding Notes, the consent of
whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the Indenture and this Supplemental Indenture or certain defaults hereunder and their
consequences) provided for in the Indenture and this Supplemental Indenture; 
 (f) change the place of payment where the
Notes or interest thereon is payable; 
 (g) modify the interest rate reset provisions of the Notes; 
 (h) impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof; or 
 (i) modify any of the provisions of this Section or Section 5.13 or Section 10.06 of the Indenture, except to increase any such
percentage or to provide that certain other provisions of the Indenture or this Supplemental Indenture cannot be modified or waived without the consent of the Holder of each Security affected thereby 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Supplemental 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 Supplemental Indenture or the Holders of Securities of any other series. 
 It shall not be necessary for any Act
of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 The Indenture and this Supplemental Indenture may not be amended to alter the subordination provisions contained in Article XIII of the Indenture without the consent of each holder of Senior
Indebtedness outstanding that would be adversely affected by such amendment or alteration. 
 ARTICLE 5 
 MISCELLANEOUS 
 Section 5.01. Relationship to Trust Indenture Act. If any provision of this Supplemental Indenture limits, qualifies or conflicts with the duties imposed by any of Sections 310 to 317, inclusive, of the Trust Indenture Act of
1939 through operation of Section 318(c) thereof, such imposed duties shall control. 
  

 39 

 Section 5.02. Headers. The Article headings herein are for convenience only
and shall not affect the construction hereof. 
 Section 5.03. Successors and Assigns. All covenants and
agreements in this Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 5.04. Separability. In case any provision of this Supplemental Indenture 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 5.05. Rules of Construction. Nothing in this Supplemental Indenture is intended
to or shall provide any rights to any parties other than those expressly contemplated by this Supplemental Indenture. 
 Section 5.06. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 Section 5.07. No Representation by Trustee. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. The recitals and statements herein
are deemed to be those of the Company and not of the Trustee and the Trustee makes no representations as to validity or sufficiency of this Supplemental Indenture. 
 Section 5.08. No Consent Required for Amendments to Achieve Consistency. Notwithstanding anything to the contrary contained in this Supplemental Indenture, the consent of the Holders
of the Notes shall not be required to effect any amendment required in order to make this Supplemental Indenture consistent with the description of the Supplemental Indenture contained in the Prospectus, dated May 14, 2007, as supplemented by
the Prospectus Supplement, dated May 14, 2007. 
 This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
  

 40 

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

			
	 NATIONWIDE FINANCIAL SERVICES, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 WILMINGTON TRUST COMPANY, as
 Trustee

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 Annex A 
 [Form of Note] 
 FACE OF SECURITY 
 [THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE
DEPOSITORY TRUST COMPANY OR A NOMINEE OF THE DEPOSITORY TRUST COMPANY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED
IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY TO A NOMINEE OF THE DEPOSITORY TRUST COMPANY OR BY A NOMINEE OF THE DEPOSITORY TRUST COMPANY TO THE DEPOSITORY TRUST COMPANY OR ANOTHER NOMINEE OF THE
DEPOSITORY TRUST COMPANY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE,
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 
 NATIONWIDE FINANCIAL SERVICES, INC. 
 6.75% Fixed-To-Floating Rate Junior Subordinated Note 
  

			
	 No.
	 	$400,000,000
		 	CUSIP No. 638612AJ0
		 	ISIN US638612AJ06

 NATIONWIDE FINANCIAL
SERVICES, INC., a corporation organized and existing under the laws of Delaware (hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received,
hereby promises to pay [Cede & Co.]* or its 
  

	 *
	 Insert for Global Securities only. 

  

 A-1 

 
registered assigns, the principal amount of $400,000,000 on May 15, 2067 or such later date as extended in accordance with the Supplemental Indenture
(the “Final Maturity Date”); provided that the principal amount of, and all accrued and unpaid interest on, this Security shall be payable in full on May 15, 2037 or such later date as extended in accordance with the
Supplemental Indenture (the “Scheduled Redemption Date”) or any subsequent Interest Payment Date to the extent, and subject to the conditions, set forth in the Supplemental Indenture; provided further that, if any date fixed
for redemption or repayment is not a Business Day, redemption or repayment of the principal amount will be made on the next day that is a Business Day, without any interest or other payment as a result of such delay. 
 The Company further promises to pay interest on said principal amount from May 18, 2007 or from the most recent Interest Payment
Date for which interest has been paid or duly provided for. This Security shall bear interest (i) from and including May 18, 2007 to but excluding May 15, 2037 at the annual rate of 6.75%, payable, and subject to deferral, in each
case as set forth in the Supplemental Indenture, and (ii) from and including May 15, 2037 to but excluding the Final Maturity Date (or if earlier, until the principal hereof is paid in full), at an annual rate equal to Three-month LIBOR
plus 2.33%, payable, and subject to deferral, in each case as set forth in the Supplemental Indenture. 
 The Company shall
have the right, at any time and from time to time prior to the Final Maturity Date to defer the payment of interest on this Security as set forth in, and subject to the conditions specified in, the Supplemental Indenture. 
 Each Holder, by such Holder’s acceptance hereof, agrees that if a Bankruptcy Event shall occur prior to the redemption or repayment
of this Security, such Holder shall only have a claim for, and right to receive, deferred and unpaid interest (including Additional Interest) that has not been paid prior to such Bankruptcy Event through the application of the Alternative Payment
Mechanism to the extent such interest (including Additional Interest) relates to the earliest two years of the portion of the Deferral Period for which such interest has not been so paid. 
 The Company may, at its option and subject to the terms and conditions of the Supplemental Indenture and Article 11 of the Indenture,
redeem this Security (i) in whole or in part at any time on or after May 15, 2037 at a Redemption Price equal to 100% of the principal amount of this Security plus accrued and unpaid interest to the date of redemption as further specified
in the Supplemental Indenture, (ii) in whole or in part, prior to May 15, 2037, in cases not involving a Tax Event or Rating Agency Event, at a Redemption Price equal to 100% of the principal amount of this Security plus accrued and unpaid
interest to the date of redemption or, if greater, a Make-Whole Price specified in the Supplemental Indenture, and (iii) in whole but not in part, upon the occurrence of a Tax Event or Rating Agency Event, at a Redemption Price equal to 100% of
the principal 

  

 A-2 

 
amount of this Security plus accrued and unpaid interest to the date of redemption or, if greater, a Special Event Make-Whole Price specified in the
Supplemental Indenture. 
 The Securities are subordinated in right of payment, in the manner and to the extent set forth in
the Indenture, to the prior payment in full of all Senior Indebtedness. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take
such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his attorney-in-fact for any and all such purposes. Each Holder hereof, by his acceptance hereof, waives all notice of the
acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature,
this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 This
Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of May 18, 2007 (herein called the
“Indenture”, and such supplemental indenture dated as of May 18, 2007, herein called the “Supplemental Indenture”), between the Company and Wilmington Trust Company, as Trustee (herein called the
“Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Trustee, the Company and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. 
 All terms used in this Security that are defined in the Supplemental Indenture or in the Indenture shall have the meanings assigned to
them in the Supplemental Indenture or the Indenture, as the case may be. 
 Reference is hereby made to the further
provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  

 A-3 

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

  

			
	 NATIONWIDE FINANCIAL SERVICES, INC.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

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

			
	 WILMINGTON TRUST COMPANY, as Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

 Dated: 

 REVERSE OF SECURITY 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for
registration of transfer at the office or agency of the Company maintained under Section 10.02 of the Indenture duly endorsed by, or accompanied by written instrument of transfer in form satisfactory to the Company and the Security Registrar
duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations and for the same aggregate principal amount, will be issued to the designated
transferee or transferees. No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is
registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for like aggregate principal amount of Securities of a different authorized denomination, as requested by the
Holder surrendering the same. 
 The Company and, by its acceptance of this Security or a beneficial interest therein, the
Holder of, and any Person that acquires beneficial interest in, this Security agree that, for United States federal, state and local tax purposes, it is intended that this Security constitute indebtedness. 
 THE INDENTURE, THE SUPPLEMENTAL INDENTURE AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK.

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