Document:

Form of Subordinated Indenture

 FORM OF SUBORDINATED INDENTURE 
 EXHIBIT 4.08 
  
  
 LABORATORY CORPORATION OF AMERICA HOLDINGS 
 ISSUER 
 AND 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. 
 TRUSTEE 
 INDENTURE 
 DATED AS OF
[                    ], [                    ]

 SUBORDINATED DEBT SECURITIES 

 CROSS-REFERENCE TABLE1 
  

			
	 Section of Trust Indenture Act of 1939, as Amended
	  	Indenture
	 310(a)
	  	7.10
	 310(b)
	  	7.08; 7.10
	 310(c)
	  	Inapplicable
	 311(a)
	  	7.11
	 311(b)
	  	7.11
	 311(c)
	  	Inapplicable
	 312(a)
	  	5.01; 5.02(a)
	 312(b)
	  	5.02(c)
	 312(c)
	  	Inapplicable
	 313(a)
	  	7.06
	 313(b)
	  	7.06
	 313(c)
	  	7.06
	 313(d)
	  	7.06
	 314(a)
	  	4.06; 5.03
	 314(b)
	  	Inapplicable
	 314(c)
	  	12.07
	 314(d)
	  	Inapplicable
	 314(e)
	  	12.07
	 314(f)
	  	Inapplicable
	 315(a)
	  	7.01
	 315(b)
	  	7.05
	 315(c)
	  	7.01
	 315(d)
	  	7.01
	 315(e)
	  	6.11; 7.07
	 316(a)
	  	6.04
	 316(b)
	  	6.07
	 316(c)
	  	8.01
	 317(a)
	  	6.08
	 317(b)
	  	4.03
	 318(a)
	  	12.09

  

	 1
	 This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the
interpretation of any of its terms or provisions. 

 Table of Contents2 
  

					
	 	 	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
	 SECTION 1.01
	 	DEFINITIONS OF TERMS.	  	1
	 ARTICLE II ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	  	8
	 SECTION 2.01
	 	DESIGNATION AND TERMS OF SECURITIES.	  	8
	 SECTION 2.02
	 	FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE.	  	10
	 SECTION 2.03
	 	DENOMINATIONS: PROVISIONS FOR PAYMENT.	  	11
	 SECTION 2.04
	 	EXECUTION AND AUTHENTICATION.	  	12
	 SECTION 2.05
	 	REGISTRATION OF TRANSFER AND EXCHANGE.	  	13
	 SECTION 2.06
	 	TEMPORARY SECURITIES.	  	14
	 SECTION 2.07
	 	MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES.	  	14
	 SECTION 2.08
	 	CANCELLATION.	  	15
	 SECTION 2.09
	 	BENEFITS OF INDENTURE.	  	16
	 SECTION 2.10
	 	AUTHENTICATING AGENT.	  	16
	 SECTION 2.11
	 	GLOBAL SECURITIES.	  	17
	 SECTION 2.12
	 	CUSIP NUMBERS.	  	18
	 SECTION 2.13
	 	OUTSTANDING SECURITIES.	  	18
	 ARTICLE III REDEMPTION OF SECURITIES
	  	19
	 SECTION 3.01
	 	REDEMPTION.	  	19
	 SECTION 3.02
	 	NOTICES TO TRUSTEE.	  	19
	 SECTION 3.03
	 	SELECTION OF SECURITIES TO BE REDEEMED.	  	19
	 SECTION 3.04
	 	NOTICE OF REDEMPTION.	  	19
	 SECTION 3.05
	 	EFFECT OF NOTICE OF REDEMPTION.	  	20
	 SECTION 3.06
	 	DEPOSIT OF REDEMPTION PRICE.	  	20
	 SECTION 3.07
	 	SECURITIES REDEEMED IN PART.	  	21
	 ARTICLE IV COVENANTS
	  	21
	 SECTION 4.01
	 	PAYMENT OF SECURITIES.	  	21
	 SECTION 4.02
	 	MAINTENANCE OF OFFICE OR AGENCY FOR REGISTRATION OF TRANSFER, EXCHANGE AND PAYMENT OF SECURITIES.	  	21
	 SECTION 4.03
	 	PROVISION AS TO PAYING AGENT.	  	22
	 SECTION 4.04
	 	APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE.	  	23
	 SECTION 4.05
	 	WHEN COMPANY MAY MERGE OR TRANSFER ASSETS.	  	23
	 SECTION 4.06
	 	STATEMENT BY OFFICERS AS TO DEFAULT.	  	24
	 ARTICLE V SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	  	24

  
  

	 2
	 This Table of Contents does not constitute part of the Indenture and shall not have any bearing on the interpretation of
any of its terms or provisions. 

  

 i 

					
	 SECTION 5.01
	 	COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS.	  	24
	 SECTION 5.02
	 	PRESERVATION OF INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS.	  	24
	 SECTION 5.03
	 	REPORTS BY THE COMPANY.	  	25
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	25
	 SECTION 6.01
	 	EVENTS OF DEFAULT.	  	25
	 SECTION 6.02
	 	ACCELERATION.	  	27
	 SECTION 6.03
	 	OTHER REMEDIES.	  	27
	 SECTION 6.04
	 	WAIVER OF PAST DEFAULTS.	  	28
	 SECTION 6.05
	 	CONTROL BY MAJORITY.	  	28
	 SECTION 6.06
	 	LIMITATION ON SUITS.	  	28
	 SECTION 6.07
	 	RIGHTS OF HOLDERS TO RECEIVE PAYMENT.	  	29
	 SECTION 6.08
	 	COLLECTION SUIT BY TRUSTEE.	  	29
	 SECTION 6.09
	 	TRUSTEE MAY FILE PROOFS OF CLAIM.	  	29
	 SECTION 6.10
	 	PRIORITIES.	  	29
	 SECTION 6.11
	 	UNDERTAKING FOR COSTS.	  	30
	 SECTION 6.12
	 	WAIVER OF STAY OR EXTENSION LAWS.	  	30
	 ARTICLE VII CONCERNING THE TRUSTEE
	  	30
	 SECTION 7.01
	 	DUTIES OF TRUSTEE.	  	30
	 SECTION 7.02
	 	RIGHTS OF TRUSTEE.	  	31
	 SECTION 7.03
	 	INDIVIDUAL RIGHTS OF TRUSTEE.	  	33
	 SECTION 7.04
	 	TRUSTEE’S DISCLAIMER.	  	33
	 SECTION 7.05
	 	NOTICE OF DEFAULTS.	  	33
	 SECTION 7.06
	 	REPORTS BY TRUSTEE TO HOLDERS.	  	33
	 SECTION 7.07
	 	COMPENSATION AND INDEMNITY.	  	34
	 SECTION 7.08
	 	REPLACEMENT OF TRUSTEE.	  	34
	 SECTION 7.09
	 	SUCCESSOR TRUSTEE BY MERGER.	  	35
	 SECTION 7.10
	 	ELIGIBILITY; DISQUALIFICATION.	  	36
	 SECTION 7.11
	 	PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY.	  	36
	 ARTICLE VIII CONCERNING THE SECURITYHOLDERS
	  	36
	 SECTION 8.01
	 	EVIDENCE OF ACTION BY SECURITYHOLDERS.	  	36
	 SECTION 8.02
	 	PROOF OF EXECUTION BY SECURITYHOLDERS.	  	37
	 SECTION 8.03
	 	WHO MAY BE DEEMED OWNERS.	  	37
	 SECTION 8.04
	 	CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED.	  	37
	 SECTION 8.05
	 	ACTIONS BINDING ON FUTURE SECURITYHOLDERS.	  	38
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	38
	 SECTION 9.01
	 	SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS.	  	38
	 SECTION 9.02
	 	SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS.	  	39
	 SECTION 9.03
	 	EFFECT OF SUPPLEMENTAL INDENTURES.	  	40
	 SECTION 9.04
	 	SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES.	  	41
	 SECTION 9.05
	 	EXECUTION OF SUPPLEMENTAL INDENTURES.	  	41

  

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	 SECTION 9.06
	 	PAYMENT FOR CONSENT	  	41
	 ARTICLE X SATISFACTION AND DISCHARGE; DEFEASANCE
	  	42
	 SECTION 10.01
	 	SATISFACTION AND DISCHARGE.	  	42
	 SECTION 10.02
	 	DEFEASANCE.	  	43
	 SECTION 10.03
	 	CONDITIONS TO DEFEASANCE.	  	43
	 SECTION 10.04
	 	APPLICATION OF TRUST MONEY.	  	45
	 SECTION 10.05
	 	REPAYMENT TO COMPANY.	  	45
	 SECTION 10.06
	 	INDEMNITY FOR GOVERNMENTAL OBLIGATIONS.	  	45
	 SECTION 10.07
	 	REINSTATEMENT.	  	45
	 ARTICLE XI IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	45
	 SECTION 11.01
	 	NO RECOURSE.	  	45
	 ARTICLE XII MISCELLANEOUS PROVISIONS
	  	46
	 SECTION 12.01
	 	EFFECT ON SUCCESSORS AND ASSIGNS.	  	46
	 SECTION 12.02
	 	ACTIONS BY SUCCESSOR.	  	46
	 SECTION 12.03
	 	SURRENDER OF COMPANY POWERS.	  	46
	 SECTION 12.04
	 	NOTICES.	  	46
	 SECTION 12.05
	 	GOVERNING LAW.	  	47
	 SECTION 12.06
	 	TREATMENT OF SECURITIES AS DEBT.	  	47
	 SECTION 12.07
	 	COMPLIANCE CERTIFICATES AND OPINIONS.	  	47
	 SECTION 12.08
	 	PAYMENTS ON BUSINESS DAYS.	  	48
	 SECTION 12.09
	 	CONFLICT WITH TRUST INDENTURE ACT.	  	48
	 SECTION 12.10
	 	COUNTERPARTS.	  	48
	 SECTION 12.11
	 	SEPARABILITY.	  	48
	 SECTION 12.12
	 	ASSIGNMENT.	  	48
	 SECTION 12.13
	 	WAIVER OF JURY TRIAL.	  	49
	 SECTION 12.14
	 	FORCE MAJEURE.	  	49
	 ARTICLE XIII SUBORDINATION OF SECURITIES
	  	49
	 SECTION 13.01
	 	SUBORDINATION TERMS.	  	49

  

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 INDENTURE, dated as of
[                    ], [                    ],
between LABORATORY CORPORATION OF AMERICA HOLDINGS, a Delaware corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the “Trustee”):

 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance of unsecured subordinated debt securities (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture
provided, as registered Securities without coupons, to be authenticated by the certificate of the Trustee; 
 WHEREAS, to
provide the terms and conditions upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this Indenture a valid and legally binding agreement of the Company, in accordance with its terms,
have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Securities by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities or of series thereof. 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01         DEFINITIONS OF TERMS. 
 The terms defined in this Section (except as in this Indenture otherwise expressly provided or unless the context otherwise requires) for all purposes of
this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture
Act or that are by reference in said Trust Indenture Act defined in the Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture
Act and in said Securities Act as in force at the date of the execution of this instrument. 
 “ADJUSTED TREASURY RATE” means, with
respect to any redemption date, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or 

 
after the remaining term of the Securities of the series being redeemed, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (ii) 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 year equal to the semi- annual equivalent yield to maturity of the Comparable Treasury Issue (expressed as a percentage of its principal amount)
assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price for such redemption date, in each case calculated on the third Business Day preceding the redemption date, plus the make-whole spread specified in the Board
Resolution, Officers’ Certificate or supplemental indenture establishing the terms of the series of Securities being redeemed in accordance with Section 2.01. 
 “AFFILIATE” means, as applied to any Person, (i) any other Person, directly or indirectly, Controlling or Controlled by or under direct or indirect common Control with such specified Person or
(ii) any Person who is a director or officer (A) of such Person, (B) of any Subsidiary of such Person or (C) of any Person described in clause (i) above. 
 “AUTHENTICATING AGENT” means an authenticating agent with respect to all or any of the series of Securities appointed with respect to all or
any series of the Securities by the Trustee pursuant to Section 2.10. 
 “BANKRUPTCY LAW” means Title 11, U.S. Code, or any
similar federal or state law for the relief of debtors. 
 “BOARD OF DIRECTORS” means the Board of Directors of the Company or any
duly authorized committee of such Board. 
 “BOARD RESOLUTION” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 
 “BUSINESS DAY” means a day other than a Legal Holiday. 
 “CAPITALIZED LEASE” means any
obligation of a Person to pay rent or other amounts incurred with respect to real property or equipment acquired or leased by such Person and used in its business that is required to be recorded as a capital lease in accordance with GAAP.

 “CERTIFICATE” means a certificate signed by the principal executive officer, the principal financial officer or the principal
accounting officer of the Company. The Certificate need not comply with the provisions of Section 12.07. 
 “COMMISSION” means
the Securities and Exchange Commission. 
  

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 “COMPANY” means Laboratory Corporation of America Holdings, a corporation duly organized and
existing under the laws of the State of Delaware until a successor replaces it in accordance with Article V and thereafter means the successor and, for purposes of any provision contained herein and required by the TIA, each other obligor on the
Securities. 
 “COMPARABLE TREASURY ISSUE” means the United States Treasury security selected by the Quotation Agent as having a
maturity comparable to the remaining term from the redemption date to the maturity date of the Securities being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of the Securities. 
 “COMPARABLE TREASURY PRICE” means,
with respect to any redemption date, if clause (ii) of the Adjusted Treasury Rate is applicable, the average of three, or such lesser number as is obtained by the Trustee, Reference Treasury Dealer Quotations for such redemption date.

 “CONTROL” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a person, whether through the ownership of voting securities, by contract or otherwise, and the terms “Controlled” and “Controlling” shall have meanings correlative thereto. 
 “CORPORATE TRUST OFFICE” means the principal office of the Trustee at which, at any particular time, this corporate trust account shall be
principally administered, which office at the date hereof is located at 10161 Centurion Parkway, Jacksonville, FL 32256. 
 “COVENANT
DEFEASANCE OPTION” has the meaning given in Section 10.02. 
 “CUSTODIAN” means any receiver, trustee, assignee,
liquidator, or similar official under any Bankruptcy Law. 
 “DEFAULT” means any event, act or condition which is, or that with
notice or lapse of time, or both, would constitute an Event of Default. 
 “DEFAULTED INTEREST” has the meaning given in
Section 2.03. 
 “DEPOSITARY” means, with respect to Securities of any series, for which the Company shall determine that such
Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute or regulation, which, in
each case, shall be designated by the Company pursuant to either Section 2.01 or 2.11. 
 “EVENT OF DEFAULT” means, with
respect to Securities of a particular series any event specified in Section 6.01, continued for the period of time, if any, therein designated. 
  

 3 

 “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended, or any successor statute
or statutes thereto. 
 “GAAP” means generally accepted accounting principles in the United States of America in effect from time
to time, including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements of pronouncements of the Financial Accounting Standards Board or such
other entity as are approved by a significant segment of the accounting profession. 
 “GLOBAL SECURITY” means, with respect to any
series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary
or its nominee. 
 “GOVERNMENTAL OBLIGATIONS” means securities that are (i) direct obligations of the United States of America
for the payment of which its full faith and credit is pledged 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 as a full faith and credit obligation by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by such custodian for the account of the holder of
such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect
of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 
 “HEREIN”, “HEREOF” and “HEREUNDER”, and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “INDEBTEDNESS” of any Person means, without duplication (i) any obligation of such Person for money borrowed, (ii) any obligation of
such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) any reimbursement obligation of such Person in respect of letters of credit or other similar instruments which support financial obligations which would
otherwise become Indebtedness, and (iv) any obligation of such Person under Capitalized Leases; provided, however, that “Indebtedness” of such Person shall not include any obligation of such Person to any Subsidiary of such Person or
to any Person with respect to which such Person is a Subsidiary. 
 “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 in accordance with the terms hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of
the Trust Indenture Act that are deemed to be a part of 

  

 4 

 
and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular
series of Securities established as contemplated by Section 2.01. 
 “INTEREST PAYMENT DATE”, when used with respect to any
installment of interest on a Security of a particular series, means the date specified in such Security or in or pursuant to a Board Resolution, in an Officers’ Certificate or in an indenture supplemental hereto with respect to such series as
the fixed date on which an installment of interest with respect to Securities of that series is due and payable. 
 “LEGAL DEFEASANCE
OPTION” has the meaning given in Section 10.02. 
 “LEGAL HOLIDAY” means a Saturday, a Sunday or a day on which
commercial banking institutions are not required to be open in the State of New York. 
 “LIEN” means any mortgage, pledge,
hypothecation, encumbrance, lien or other security interest. 
 “MAKE-WHOLE AMOUNT” means the sum, as determined by a Quotation
Agent, of the present values of the scheduled payments of principal and interest (exclusive of interest to the redemption date) from the redemption date to the maturity date of the Securities being redeemed, in each case discounted to the redemption
date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus accrued and unpaid interest on the principal amount of the Securities being redeemed to the redemption date. 
 “OFFICERS’ CERTIFICATE” means a certificate signed by the President or a Vice President and by the Treasurer or an Assistant Treasurer or
the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance with the terms hereof. Each such certificate shall include the statements provided for in
Section 12.07, if and to the extent required by the provisions thereof. 
 “OPINION OF COUNSEL” means an opinion in writing of
legal counsel, who may be an employee of or counsel for the Company that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 12.07, if and to the extent
required by the provisions thereof. 
 “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 Stated Maturity thereof. 
 “PAYING
AGENT” has the meaning given in Section 4.03. 
  

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 “PERSON” means any individual, corporation, limited liability company, partnership,
joint-venture, joint-stock company, unincorporated organization or government or any agency or political subdivision thereof. 
 “PREDECESSOR SECURITY” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security. 
 “PRINCIPAL OF” a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is
to become due at the relevant time. 
 “QUOTATION AGENT” means the Reference Treasury Dealer selected by the Company. 

“REFERENCE TREASURY DEALER” means Banc of America Securities LLC and its successors and assigns, and two other nationally recognized
investment banking firms selected by the Company that are primary U.S. government securities dealers. 
 “REFERENCE TREASURY DEALER
QUOTATIONS” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, 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 Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 
 “RESPONSIBLE OFFICER” when used with respect to the Trustee means any officer within the corporate trust department of the Trustee, including
any vice president, assistant treasurer, any trust officer or any other officer or assistant officer of the Trustee customarily performing functions similar to those performed by the Persons who at the time shall be such officers, respectively, or
to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 
 “SECURITIES” means the debt Securities authenticated and delivered under this Indenture. 
 “SECURITIES ACT” means the Securities Act of 1933, as amended, or any successor statute or statutes thereto. 
 “SECURITYHOLDER”, “HOLDER of SECURITIES”, “REGISTERED HOLDER”, “HOLDER” or other similar term, means the Person
or Persons in whose name or names a 

  

 6 

 
particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture. 
 “SECURITY REGISTER” has the meaning given in Section 2.05. 
 “SECURITY REGISTRAR” has the meaning given in Section 2.05. 
 “SENIOR INDEBTEDNESS”
means the principal, premium (if any) and unpaid interest on all present and future (i) indebtedness of the Company for borrowed money; (ii) obligations of the Company evidenced by bonds, debentures, notes or similar instruments;
(iii) obligations of the Company under (a) interest rate swaps, caps, collars, options and similar arrangements, (b) any foreign exchange contract, currency swap contract, futures contract, currency option contract, or other foreign
currency hedge and (c) credit swaps, caps, floors, collars and similar arrangements; (iv) indebtedness incurred, assumed or guaranteed by the Company in connection with the acquisition by it or a subsidiary of the Company of any business,
properties or assets (except purchase-money indebtedness classified as accounts payable under U.S. generally accepted accounting principles); (v) all obligations and liabilities (contingent or otherwise) in respect of leases of the Company
required, in conformity with U.S. generally accepted accounting principles, to be accounted for as capitalized lease obligations on the balance sheet of the Company and all obligations and liabilities (contingent or otherwise) under any lease or
related document (including a purchase agreement) in connection with the lease or real property which provides that the Company is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a
minimum residual value of the leased property to the lessor and the obligations of the Company under such lease or related document to purchase or to cause a third party to purchase such leased property; (vi) reimbursement obligations of the
Company in respect of letters of credit relating to indebtedness or other obligations of the Company that qualify as indebtedness or obligations of the kind referred to in clauses (i) through (v) above; and (vii) obligations of the
Company under direct or indirect guaranties in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds
referred to in clauses (i) through (vi) above, in each case as to clauses (i) through (vii) above unless in the instrument creating or evidencing the indebtedness or obligation or pursuant to which the same is outstanding
provides that (x) such indebtedness or obligation is not senior in right of payment to the Securities or (y) such indebtedness or obligation is subordinated to any other indebtedness or obligation of the Company, unless such indebtedness
or obligation expressly provides that such indebtedness or obligations be senior in right of payment to the Securities. 
 “STATED
MATURITY” means, with respect to any Security of a series, the date specified in such Security as the fixed date on which the final payment of principal of such Security is due and payable. 
 “SUBSIDIARY” means, with respect to any Person, (i) any corporation at least a majority of whose outstanding Voting Stock shall at the
time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its 

  

 7 

 
Subsidiaries, (ii) any general partnership, limited liability company, joint venture or similar entity, at least a majority of whose outstanding
partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited partnership of which such Person or any of its
Subsidiaries is a general partner. 
 “TRUSTEE” means The Bank of New York Mellon Trust Company, N.A., and, subject to the
provisions of Article VII, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term “Trustee” as used with
respect to a particular series of the Securities shall mean the trustee with respect to that series. 
 “TRUST INDENTURE ACT” and
“TIA” means the Trust Indenture Act of 1939, as amended, subject to the provisions of Sections 9.01, 9.02, and 12.09, as in effect at the date of execution of this instrument. 
 “UNIFORM COMMERCIAL CODE” means the New York Uniform Commercial Code as in effect from time to time. 
 “VOTING STOCK”, as applied to stock of any Person, means shares, interests, participations or other equivalents in the equity interest (however
designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by reason of the
occurrence of a contingency. 
 ARTICLE II 
 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE 
 OF SECURITIES 
 SECTION 2.01         DESIGNATION AND TERMS OF SECURITIES. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in
one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution, pursuant to an Officers’ Certificate or pursuant to one or more indentures supplemental
hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution, and set forth in an Officers’ Certificate, or established in an Officers’ Certificate or established in one
or more indentures supplemental hereto: 
 (1)         the title of the Security of the series
including CUSIP numbers (which shall distinguish the Securities of the series from all other Securities); 
  

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 (2)         any limit upon the aggregate principal amount of the
Securities of that series that 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 that series);

 (3)         the date or dates on which the principal of the Securities of the series is payable
and the place(s) of payment; 
 (4)         the rate or rates at which the Securities of the series
shall bear interest or the manner of calculation of such rate or rates, if any; 
 (5)         the
date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the manner of determination of such Interest Payment Dates, the place(s) of payment, and the record date or other method for
the determination of holders to whom interest is payable on any such Interest Payment Dates; 
 (6)
        the right, if any, to extend the interest payment periods and the duration of such extension; 
 (7)         the period or periods within which, the price or prices at which and the terms and conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of
the Company; 
 (8)         the obligation, if any, of the Company to redeem or purchase Securities
of the series or at the option of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation; 
 (9)         any additional or different subordination terms applicable to the
Securities of the series; 
 (10)       the form of the Securities of the series including the form of the
Trustee’s certificate of authentication for such series; 
 (11)       if other than denominations of one
thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the Securities of the series shall be issuable; 
 (12)       any and all other terms with respect to such series (which terms shall not be inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms which may be
required by or advisable under U.S. laws or regulations or advisable in connection with the marketing of Securities of that series; 
  

 9 

 (13)       whether the Securities of the series are issuable as a Global
Security and, in such case, the identity of the Depositary for such series; 
 (14)       whether the
Securities of the series will be convertible into shares of common stock or other securities of the Company and, if so, the terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion
period; 
 (15)       if other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01 and the amount that will be deemed to be the principal amount of the Securities for any other purpose; 

(16)       any additional or different Events of Default or restrictive covenants provided for with respect to the
Securities of the series and any change in the right of the Trustee or the Holders to declare the principal amount of the Securities of a series due and payable; 
 (17)       whether the Securities of the series shall not be defeasible pursuant to Section 10.02 and, if other than by a Board Resolution, the manner in which any election by the
Company to defease such Securities shall be evidenced; and 
 (18)       if other than the currency of the
United States of America, the currency, currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the
United States of America for any purpose. 
 All Securities of any one series shall be substantially identical except as to denomination and
except as may otherwise be provided in or pursuant to any such Board Resolution, Officers’ Certificate or in any indentures 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. Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of
interest may be determined, with different dates on which such interest may be payable and with different redemption dates. Notwithstanding Section 2.01(2) and unless otherwise expressly provided with respect to a series of Securities, the
aggregate principal amount of a series of Securities may be increased and additional Securities of such series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased. 
 SECTION 2.02         FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE. 
 The Securities of any series and the Trustee’s certificate of authentication to be borne by such Securities shall be substantially of the tenor and
purport as set forth in one or more 

  

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indentures supplemental hereto or as provided in or pursuant to a Board Resolution or in an Officers’ Certificate. The Securities may have such letters,
numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be
required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that series may be listed, or to conform to usage. 
 SECTION 2.03         DENOMINATIONS: PROVISIONS FOR PAYMENT. 
 The Securities shall be issuable as registered Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple
thereof, subject to Section 2.01(11). The Securities of a particular series shall bear interest payable on the dates and at the rates specified or provided for with respect to that series. Except as contemplated by Section 2.01(18), the
principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender
for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York; provided, however, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. Each Security shall be dated the date of its authentication by the Trustee. Except as contemplated by Section 2.01(4), interest on
the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. Except as contemplated by Section 2.01(5), the interest installment on any Security that is payable, and is punctually paid or duly provided for,
on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest
installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest
Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest
Payment Date for Securities of the same 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 shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1)
        The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (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 such 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 

  

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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 not be more than 15 nor 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
Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date
therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date. 
 (2)         The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner
not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant
to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Unless otherwise set forth in or pursuant to a Board
Resolution, in an Officers’ Certificate or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with
respect to a series of Securities with respect to any Interest Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the first day of a month, or the first day of the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such
Interest Payment Date is the fifteenth day of a month, whether or not such date is a Business Day. Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or
in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 
 SECTION 2.04         EXECUTION AND AUTHENTICATION. 
 The
Securities shall be signed on behalf of the Company by any of two of its President, any Vice President, its Treasurer, any Assistant Treasurer, its Secretary or any Assistant Secretary. Signatures may be in the form of a manual or facsimile
signature. The Company may use the facsimile signature of any Person who shall have been a President or Vice President thereof, or of any Person who shall have been the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary
thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be the President or a Vice President, or the Treasurer, an Assistant Treasurer, the Secretary or
an Assistant Secretary, of the Company. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. A Security shall not be valid until authenticated manually by an authorized signatory of the
Trustee, or by an Authenticating Agent. 

  

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The Securities shall be dated the date of their authentication. Such signature shall be conclusive evidence that the Security so authenticated has been duly
authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed
by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by its President or any Vice President and its Secretary or any Assistant Secretary, and
the Trustee in accordance with such written order shall authenticate and deliver such Securities. In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall
be provided with, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof have been established in conformity with the provisions of this Indenture and that such
Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company enforceable
in accordance with their terms, subject to any Bankruptcy Law or other insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity
principles and that applicable laws and legal requirements (with reasonable and customary exceptions and qualification for such an Opinion of Counsel) in respect to the execution and delivery by the Company of such Securities have been complied
with. The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise
in a manner that is not reasonably acceptable to the Trustee. 
 SECTION 2.05         REGISTRATION
OF TRANSFER AND EXCHANGE. 
 (a)         Securities of any series may be exchanged upon
presentation thereof at the office or agency of the Company designated for such purpose in the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, with the same terms, and for a like
aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the
Trustee shall authenticate and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously
outstanding. 
 (b)         The Company shall keep, or cause to be kept, at its office or agency
designated for such purpose in the Borough of Manhattan, the City and State of New York, or such other location designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the
purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by or pursuant to a Board Resolution or an Officers’ Certificate (the “Security Registrar”). Upon surrender for transfer
of any Security at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate 

  

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and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security
presented for a like aggregate principal amount. All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a
written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 
 (c)        No service charge shall be made for any exchange or registration of transfer of Securities, or issue
of new Securities in case of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto (including the fees and expenses of the Trustee), other than
exchanges pursuant to Section 2.06, Section 3.07 and Section 9.04 not involving any transfer. The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of redemption of less than all the outstanding Securities of the same series and ending at the close of business on the day of such mailing, nor (ii) to register the transfer
of or exchange any Securities of any series or portions thereof called for redemption. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 
 SECTION 2.06         TEMPORARY SECURITIES. 
 Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary
Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions, insertions and
variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in
substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities
of such series may be surrendered in exchange therefor (without charge to the holders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the City and State of New York, and the Trustee shall authenticate
and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not
be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and
delivered hereunder. 
 SECTION 2.07         MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES. 

 In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the 

  

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Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not
contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the
Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their
satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of
the Company. Upon the issuance of any substituted Security, 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. In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment
of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. Every replacement Security issued pursuant to the provisions of this Section
shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect
to the replacement or payment of negotiable instruments or other securities without their surrender. 
 SECTION 2.08
        CANCELLATION. 
 All Securities surrendered for the purpose of payment, redemption,
exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu
thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence
of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company upon its request therefor. If the Company shall otherwise acquire any of the
Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 
  

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 SECTION 2.09         BENEFITS OF INDENTURE. 
 Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties hereto and
the holders of the Securities (and, with respect to the provisions of Section 4.05, the holders of Senior Indebtedness) any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or
provision herein contained; all such covenants, conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities (and, with respect to the provisions of Section 4.05, the holders of Senior
Indebtedness). 
 SECTION 2.10         AUTHENTICATING AGENT. 
 So long as any of the Securities of any series remain outstanding there may be an Authenticating Agent for any or all such series of Securities which the
Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, 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. All references in this Indenture to the authentication of Securities by the Trustee
shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently reported or
determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is subject to
supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such
Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor
Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 
 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 the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided that 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. 
  

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 SECTION 2.11         GLOBAL SECURITIES. 
 (a)         If the Company shall establish pursuant to Section 2.01 that the Securities of a particular
series are to be issued as a Global Security, then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that 
 (1)         shall represent, and shall be denominated in an amount equal to the aggregate principal amount of,
all or a portion of the outstanding Securities of such series, 
 (2)         shall be registered in
the name of the Depositary or its nominee, 
 (3)         shall be delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, and 
 (4)         shall bear a legend
substantially to the following effect: 
 “Except as otherwise provided in Section 2.11 of the Indenture, this Security may be
transferred, in whole but not in part, only to the Depositary, another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 
 (b)         Notwithstanding the provisions of Section 2.05, the Global Security of a series may be
transferred, in whole but not in part and in the manner provided in Section 2.05, only to the Depositary for such series, another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by
the Company or to a nominee of such successor Depositary. 
 (c)         If at any time the
Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the
Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this
Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered form
without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. In addition, the Company may at any time determine that the
Securities of any series shall no longer be represented by a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and subject to
Section 2.05, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange 

  

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for such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such
authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose
names such Securities are so registered. 
 SECTION 2.12         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
in writing of any change in the “CUSIP” numbers. 
 SECTION 2.13         OUTSTANDING
SECURITIES. 
 Securities of a series outstanding at any time are all Securities of such series authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation and those described in this Section 2.13 as not outstanding. Subject to the provisions of Section 8.04, a Security of a series does not cease to be outstanding because the
Company or an Affiliate of the Company holds the Security. 
 If a Security is replaced pursuant to Section 2.07, it ceases to be
outstanding unless the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a protected person (as such term is defined in Section 8-303 of the Uniform Commercial Code). 
 If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or at Stated Maturity money sufficient to pay
all principal and interest payable on that date with respect to the Securities of a series (or a portion thereof) to be redeemed or maturing, as the case may be, then on and after that date such Securities (or portions thereof) cease to be
outstanding and interest on them ceases to accrue. 
  

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 ARTICLE III 
 REDEMPTION OF SECURITIES 
 SECTION 3.01
        REDEMPTION. 
 (a)         The Company may redeem
the Securities of any series issued hereunder on and after the dates and as set forth herein and in accordance with the terms established for such series pursuant to Section 2.01 hereof. 
 (b)         Unless otherwise provided for in Section 2.01 hereof, the Company may redeem the Securities of
any series at any time at a redemption price equal to the greater of (1) 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest to the redemption date or (2) the Make-Whole Amount for the Securities
of the series being redeemed. 
 SECTION 3.02         NOTICES TO TRUSTEE. 
 If the Company elects to redeem Securities of any series issued hereunder pursuant to Section 3.01, it shall notify the Trustee in writing of the
redemption date and the principal amount of Securities to be redeemed. The Company shall give each notice to the Trustee provided for in this Section at least 45 days before the redemption date unless the Trustee consents to a shorter period. Such
notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel to the effect that such redemption will comply with the conditions herein. 
 SECTION 3.03         SELECTION OF SECURITIES TO BE REDEEMED. 
 If fewer than all the Securities of any series are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by a method that complies with applicable legal and securities exchange requirements, if any,
and that the Trustee in its sole discretion shall deem to be fair and appropriate and in accordance with methods generally used at the time of selection by fiduciaries in similar circumstances. The Trustee shall make the selection from outstanding
Securities of a series not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $1,000. Securities and portions of them the Trustee selects to be redeemed
shall be in principal amounts of $1,000 or a whole multiple of $1,000. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Company
promptly of the Securities or portions of Securities to be redeemed. 
 SECTION 3.04
        NOTICE OF REDEMPTION. 
 At least 30 days but not more than 60 days before a date for
redemption of Securities of any series, the Company shall mail a notice of redemption by first-class mail to each Holder of Securities to be redeemed at such Holder’s registered address. 
  

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 The notice shall identify the Securities to be redeemed (including CUSIP numbers) and shall state:

 (1)         the redemption date; 
 (2)         a description of how the redemption price will be calculated; 
 (3)         the name and address of the Paying Agent; 
 (4)         that Securities called for redemption must be surrendered to the Paying Agent to collect the
redemption price; 
 (5)         if fewer than all the outstanding Securities of any series are to be
redeemed, the identification and principal amounts of the particular Securities to be redeemed; 
 (6)
        that, unless the Company defaults in making such redemption payment, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; and 

(7)         that no representation is made as to the correctness or accuracy of the CUSIP number, if any,
listed in such notice or printed on the Securities. 
 The Trustee shall give the notice of redemption in the Company’s name and at the
Company’s expense. The Company shall provide the Trustee with the information required by this Section. In such event the Company shall give the Trustee 10 days (or such shorter notice as shall be agreed to by the Trustee) prior notice prior to
the delivery of the notice. 
 SECTION 3.05         EFFECT OF NOTICE OF REDEMPTION.

 Once notice of redemption is mailed, Securities called for redemption become due and payable on the redemption date and at the
redemption price stated in the notice. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, which shall include accrued interest to the redemption date (subject to the right of Holders of
record on the relevant record date to receive interest due on the related interest payment date). Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 
 SECTION 3.06         DEPOSIT OF REDEMPTION PRICE. 
 On the Business Day next preceding a redemption date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is the Paying
Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of all Securities to be redeemed on such date other than Securities or portions of Securities called for redemption which have been delivered by the Company to
the Trustee for cancellation. On or after the redemption date, 

  

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interest shall cease to accrue on such Securities or portions thereof called for redemption so long as the Company has deposited with the Paying Agent funds
sufficient to pay the principal of, plus accrued but unpaid interest, if any, on the Securities to be redeemed. 
 SECTION 3.07
        SECURITIES REDEEMED IN PART. 
 Upon surrender of a Security that is redeemed in part,
the Company shall execute and the Trustee shall authenticate for the Holder (at the Company’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE IV 
 COVENANTS

 SECTION 4.01         PAYMENT OF SECURITIES. 
 The Company shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided herein and established with
respect to such Securities and in this Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance with this Indenture money sufficient to pay all principal and
interest then due. 
 Notwithstanding anything to the contrary contained in this Indenture, the Company may, to the extent it is required to
do so by law, deduct or withhold income or other similar taxes imposed by applicable law from principal or interest payments hereunder. 
 The Company shall pay interest on overdue principal at the rate specified therefor in the Securities, and subject to Section 2.11, it shall pay interest on overdue installments of interest at the same rate to the extent lawful.

 SECTION 4.02         MAINTENANCE OF OFFICE OR AGENCY FOR REGISTRATION OF TRANSFER, EXCHANGE AND
PAYMENT OF SECURITIES. 
 So long as any of the Securities shall remain outstanding, the Company shall maintain an office or agency in
the Borough of Manhattan, The City of New York, State of New York, where the Securities of a series may be surrendered for exchange or registration of transfer as in this Indenture provided, and where notices and demands to or upon the Company in
respect to such Securities may be served, and where such Securities may be presented or surrendered for payment. The Company may also from time to time designate one or more other offices or agencies where Securities of a series may be presented or
surrendered for any and all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the
Borough of Manhattan, The City of New York, State of New York for such purposes. The Company shall give to the Trustee prompt written notice of the location of 

  

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any such office or agency and of any change of location thereof. The Company initially appoints the Trustee, The Bank of New York Mellon Trust Company, N.A.,
10161 Centurion Parkway, Jacksonville, FL 32256, for each of said purposes. In case the Company shall fail to maintain any such office or agency or shall fail to give such notice of the location or of any change in the location thereof, such
surrenders, presentations and demands may be made and notices may be served at the principal office of the Trustee, and the Company hereby appoints the Trustee its agent to receive at the aforesaid office all such surrenders, presentations, notices
and demands. The Trustee shall give the Company prompt notice of any change in location of the Trustee’s principal office. 
 SECTION
4.03         PROVISION AS TO PAYING AGENT. 
 (a)
        If the Company shall appoint one or more paying agents for all or any series of the Securities (each a “Paying Agent” and collectively, the “Paying Agents”) other than the Trustee,
it shall cause such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall undertake, subject to the provisions of this Section 4.03, 
 (1)         that it shall hold all sums held by it as such agent for the payment of the principal of or interest
on the Securities of any series such sums which have been paid to it by the Company (or by any other obligor on the Securities) in trust for the benefit of the Holders of the Securities of such series and shall notify the Trustee of the receipt of
sums to be so held, 
 (2)         that it shall give the Trustee notice of any failure by the
Company (or by any other obligor on the Securities) to make any payment of the principal of or interest on the Securities of any series when the same shall be due and payable, 
 (3)         that it shall at any time during the continuance of any Event of Default specified in
Section 6.01(1) or 6.01(2), upon the written request of the Trustee, deliver to the Trustee all sums so held in trust by it, and 
 (4)
        acknowledge, accept and agree to comply in all aspects with the provisions of this Indenture relating to the duties, rights and liabilities of such Paying Agent. 
 (b)         If the Company shall not act as its own Paying Agent, it shall, by the opening of business (New York
City time) on each due date of the principal and interest on any Security, deposit with such Paying Agent a sum in same day funds sufficient to pay the principal of or interest so becoming due, such sum to be held in trust for the benefit of the
Holders of Securities of a series entitled to such principal of or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee of its failure so to act. 
 (c)         If the Company shall act as its own Paying Agent, it shall, by the opening of business (New York City
time) on each due date of the principal and interest on any Security, set aside, segregate and hold in trust for the benefit of the persons entitled thereto, a sum sufficient 

  

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to pay such principal or interest so becoming due and shall notify the Trustee of any failure to take such action. 
 (d)         Anything in this Section 4.03 to the contrary notwithstanding, the Company may, at any time, for
the purpose of obtaining a satisfaction and discharge of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by it, or any Paying Agent hereunder, as required by this Section 4.03, such sums to
be held by the Trustee upon the trusts herein contained. 
 (e)        Anything in this
Section 4.03 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 4.03 is subject to the provisions of Sections 10.05 and 10.07. 
 SECTION 4.04         APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE. 
 The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, shall appoint, in the manner provided in Section 7.08, a
Trustee, so that there shall at all times be a Trustee hereunder. 
 SECTION 4.05         WHEN
COMPANY MAY MERGE OR TRANSFER ASSETS. 
 The Company shall not, while any of the Securities remain outstanding, consolidate or merge with
or into any Person, or sell, lease, convey or otherwise dispose of all or substantially all of its assets, or assign any of its obligations under this Indenture or any series of Securities, to any Person, unless: 
 (1)         the Person formed by or surviving such consolidation or merger (if other than the Company), or to
which such sale, lease, conveyance or other disposition or arrangement shall be made (collectively, the “Successor Company”), is a corporation organized and existing under the laws of the United States or any State thereof or the District
of Columbia and the Successor Company assumes by supplemental indenture in a form reasonably satisfactory to the Trustee all of the obligations of the Company under this Indenture and under the Securities; 
 (2)         immediately after giving effect to such transaction no Default shall have occurred and be continuing;
and 
 (3)         the Company shall have delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. 
 The Successor Company shall be the successor to the Company and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture, 

  

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and the predecessor Company (except in the case of a lease) shall be released from the obligation to pay the principal of and interest on the Securities.

 SECTION 4.06         STATEMENT BY OFFICERS AS TO DEFAULT. 
 The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an Officers’ Certificate, stating that
in the course of the performance by the signers of their duties as Responsible Officers of the Company they would normally have knowledge of any Default and whether or not the signers know of any Default or Event of Default that occurred during such
period. If they do, the certificate shall describe the Default or Event of Default, its status and what action the Company is taking or proposes to take with respect thereto. The Company also shall comply with TIA Section 314(a)(4). 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). 
 ARTICLE V 
 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY

 AND THE TRUSTEE 
 SECTION 5.01         COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS. 
 The Company will furnish or cause to be furnished to the Trustee 
 (1)         not more
than 15 days after each regular record date (as defined in Section 2.03) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date, provided
that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company, and 
 (2)         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; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee
shall be the Security Registrar. 
 SECTION 5.02         PRESERVATION OF INFORMATION;
COMMUNICATIONS WITH SECURITYHOLDERS. 
 (a)         The Trustee shall preserve, in as current a
form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and 

  

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addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity). 
 (b)         The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a
new list so furnished. 
 (c)         Securityholders may communicate as provided in
Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities. 
 SECTION 5.03         REPORTS BY THE COMPANY. 
 Without regard
to whether the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with the Commission (so long as permitted by the Commission) and provide the Trustee and Securityholders with
such annual reports and such information, documents and other reports as are specified in Sections 13 and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such Sections, such information, documents and other reports to be so
filed and provided at the times specified for the filing of such information, documents and reports under such Sections. The Company also shall comply with the other provisions of TIA Section 314(a). 
 ARTICLE VI 
 DEFAULTS AND REMEDIES

 SECTION 6.01         EVENTS OF DEFAULT. 
 An “Event of Default” occurs with respect to a series of Securities if: 
 (1)         the Company defaults in any payment of interest on any of the Securities of that series when the same
becomes due and payable and such default continues for a period of 30 days; 
 (2)         the
Company defaults in the payment of the principal of any of the Securities of that series when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon declaration or otherwise; 
 (3)         the Company fails to comply with Section 4.05; 
 (4)         the Company fails to comply with any of its agreements in the Securities of that series or this
Indenture (other than those referred to in clauses (1), (2) or (3) above) and such failure continues for 90 days after the notice specified below; 
  

 25 

 (5)        any default or event of default under any Indebtedness
of the Company or any of its Subsidiaries (other than any Indebtedness of the Company or any Subsidiary to the seller of a business or asset incurred in connection with the purchase thereof) which default or event of default results in at least
$50.0 million of aggregate principal amount of such Indebtedness being declared due and payable prior to maturity (the “cross acceleration provision”); 
 (6)        failure by the Company or any of its Subsidiaries to pay at maturity or otherwise when due (after giving effect to any applicable grace period) at least $50.0 million
aggregate principal amount of Indebtedness at any one time; 
 (7)        the Company pursuant to or
within the meaning of any Bankruptcy Law: 
 (A)        commences a voluntary case; 
 (B)        consents to the entry of an order for relief against it in an involuntary case; 
 (C)        consents to the appointment of a Custodian of it or for any substantial part of its property;

 (D)        makes a general assignment for the benefit of its creditors; or 
 (E)        takes any comparable action under any foreign laws relating to insolvency; or 
 (8)        a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A)        is for relief against the Company in an involuntary case; 
 (B)        appoints a Custodian of the Company or for any substantial part of its property; or 
 (C)        orders the winding up or liquidation of the Company; 
 or any similar relief is granted under any foreign laws and the order, decree or relief remains unstayed and in effect for 60 days. 
 The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is
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. No Event of Default with respect to a single series of Securities issued hereunder
(and under or pursuant to any Supplemental Indenture, Officers’ Certificate or Board Resolution) specific to such series shall constitute an Event of Default with 

  

 26 

 
respect to any other series of Securities unless otherwise provided in this Indenture or any Supplemental Indenture, Officers’ Certificate or Board
Resolution with respect to any other series of Securities. 
 Notwithstanding the foregoing, a default under Section 6.01(4) shall not
constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities of such series notify the Company of the default and the Company does not cure such default within the time specified
in Section 6.01(4) after receipt of such notice. Such notice must specify the default, demand that it be remedied and state that such notice is a “Notice of Default.” 
 The Company shall deliver to the Trustee, promptly after the occurrence thereof, written notice in the form of an Officers’ Certificate of any Event
of Default under clauses (3), (5), (6), (7) and (8) and, within 60 days after the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under clause (4), its
status and what action the Company is taking or proposes to take with respect thereto. 
 SECTION
6.02        ACCELERATION. 
 If an Event of Default (other than an Event of Default specified in
Section 6.01(7) or (8)) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in outstanding principal amount of the Securities of such series by notice to the Company and the Trustee, may declare
the principal of and accrued and unpaid interest on all the Securities of such series to be due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in
Section 6.01(7) or (8) occurs, the principal of and accrued and unpaid interest on all the Securities of such series shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee
or any Holders. The Holders of a majority in principal amount of the Securities of such series outstanding by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and
if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become due solely because of acceleration. No such rescission shall affect any subsequent Default or Event of Default or impair any right
consequent thereto. 
 SECTION 6.03        OTHER REMEDIES. 
 If an Event of Default occurs and is continuing with respect to a series of Securities, the Trustee may pursue any available remedy to collect the
payment of principal of or interest on the Securities of such series or to enforce the performance of any provision of the Securities of such series or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities of such series or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising
any right or remedy accruing upon an Event of Default shall 

  

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not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available
remedies are cumulative. 
 SECTION 6.04        WAIVER OF PAST DEFAULTS. 
 The Holders of a majority in outstanding principal amount of the Securities of such series by notice to the Trustee may waive an existing Default and its
consequences except (i) a Default in the payment of the principal of or interest on a Security or (ii) a Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each Holder affected. When a
Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 
 SECTION 6.05        CONTROL BY MAJORITY. 
 The Holders of a majority in outstanding
principal amount of the Securities of such series may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may
refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee reasonably determines is unduly prejudicial to the rights of other Holders or would involve the Trustee in personal
liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory
to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 
 SECTION
6.06        LIMITATION ON SUITS. 
 Except to enforce the right to receive payment of principal
or interest when due, no Holder of Securities of a particular series may pursue any remedy with respect to this Indenture or the Securities of such series unless: 
 (1)        the Holder gives to the Trustee written notice stating that an Event of Default is continuing; 
 (2)        the Holders of at least 25% in outstanding principal amount of the Securities of such series make a
written request to the Trustee to pursue the remedy; 
 (3)        such Holder or Holders offer to
the Trustee reasonable security or indemnity satisfactory to it against any loss, liability or expense; 
 (4)        the Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (5)        the Holders of a majority in principal amount of the Securities of such series do not give the Trustee
a direction inconsistent with the request during such 60-day period. 
  

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 A Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference
or priority over another Holder. 
 SECTION 6.07        RIGHTS OF HOLDERS TO RECEIVE PAYMENT. 

 Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the
Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of
such Holder. 
 SECTION 6.08        COLLECTION SUIT BY TRUSTEE. 
 If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as
Trustee of an express trust against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07. 
 SECTION 6.09        TRUSTEE MAY FILE PROOFS OF CLAIM. 
 The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee and
the Holders allowed in any judicial proceedings relative to the Company, its Subsidiaries or their respective creditors or properties and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a
trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee 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 it for the compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07.

 SECTION 6.10        PRIORITIES. 
 If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in the following order: 
 FIRST: to the Trustee for amounts due under Section 7.07; 
 SECOND: to Holders for amounts due and unpaid on the Securities of such series for principal and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the
Securities of such series for principal and interest, respectively; and 
 THIRD: to the Company. 
  

 29 

 Notwithstanding anything to the contrary in Section 2.03, the Trustee may fix a record date and
payment date for any payment to Holders pursuant to this Section 6.10. At least 15 days before such record date, the Company shall mail to each Holder and the Trustee a notice that states the record date, the payment date and amount to be paid.

 SECTION 6.11        UNDERTAKING FOR COSTS. 
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as
Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in outstanding principal amount of the Securities of such series. 
 SECTION
6.12        WAIVER OF STAY OR EXTENSION LAWS. 
 The Company (to the extent it may lawfully do
so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law 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 shall not hinder, delay or impede the execution of any power herein granted to the
Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE VII

 CONCERNING THE TRUSTEE 
 SECTION 7.01        DUTIES OF TRUSTEE. 
 (a)        If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their
exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
 (b)        Except during the continuance of an Event of Default: 
 (1)        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 
 (2)        in the absence of bad faith on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or 

  

 30 

 
opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of certificates or opinions specifically
required by any provision hereof to be furnished to it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of any
mathematical calculations or other facts stated therein). 
 (c)        The Trustee may not be
relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (1)        this paragraph does not limit the effect of Section 7.01(b); 
 (2)        the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer unless it is proved that the Trustee was negligent in ascertaining the pertinent facts;
and 
 (3)        the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05. 
 (d)        The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company. 
 (e)        Money held in trust by the Trustee need not be segregated from other funds except to the extent
required by law. 
 (f)        No provision of this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 (g)        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 7.01 and to the provisions of the TIA. 
 SECTION 7.02        RIGHTS OF TRUSTEE. 
 (a)        The Trustee may conclusively rely on any document (whether in original or facsimile form) believed by
it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b)        Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action
it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 
  

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 (c)        The Trustee may act through its attorneys and agents
and shall not be responsible for the willful misconduct or negligence of any attorney or agent appointed with due care. 
 (d)        The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the
Trustee’s conduct does not constitute willful misconduct or negligence. 
 (e)        The
Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect to
any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
 (f)        The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture,
unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 (g)        In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or
damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 
 (h)        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. 
 (i)        The rights, privileges, protections, immunities and benefits given to the
Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 
 (j)        Any request or direction of the Company mentioned herein shall be sufficiently evidenced by a company
order and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution. 
 (k)        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, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee
shall determine to make such further 

  

 32 

 
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. 
 SECTION
7.03        INDIVIDUAL RIGHTS OF TRUSTEE. 
 The Trustee in its individual or any other capacity
may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like
rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
 SECTION
7.04        TRUSTEE’S DISCLAIMER. 
 The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, it shall not be responsible for the use or application of any money
received by any Paying Agent (other than itself as Paying Agent), and it shall not be responsible for any statement in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the
Trustee’s certificate of authentication. 
 SECTION 7.05        NOTICE OF DEFAULTS.

 If a Default or Event of Default occurs and is continuing and it is known to a Responsible Officer of the Trustee, the Trustee shall
mail to each Holder notice of the Default or Event of Default within 60 days after it occurs or promptly upon the Trustee’s attaining knowledge of such Default or Event of Default, whichever comes first. Except in the case of a Default or Event
of Default in payment of principal of, or interest on, any Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Holders.

 SECTION 7.06        REPORTS BY TRUSTEE TO HOLDERS. 
 As promptly as practicable after each May 15 beginning with the May 15 following the date of this Indenture, and in any event prior to
July 15 in each year, if required by TIA Section 313, the Trustee shall mail to each Holder a brief report dated as of such May 15 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b).
The Trustee shall also transmit by mail all reports required by TIA Section 313(c). 
 A copy of each report at the time of its mailing
to Holders shall be filed by the Company with the Commission and each stock exchange (if any) on which the Securities are listed. The Company agrees to notify promptly the Trustee whenever the Securities become listed on any stock exchange and of
any delisting thereof. 
  

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 SECTION 7.07        COMPENSATION AND INDEMNITY.

 The Company shall pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation for its
services. The Trustee’s compensation shall not be limited by any law on compensation of a Trustee of an express trust. The Company shall reimburse the Trustee upon request for all out-of-pocket expenses incurred or made by it, including costs
of collection, costs of preparing and reviewing reports, certificates and other documents, costs of preparation and mailing of notices to Holders and reasonable fees and expenses of counsel retained by the Trustee in addition to the compensation for
its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall indemnify and hold harmless the Trustee against any and
all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses) incurred by it in connection with the administration of this trust and the performance of its duties hereunder, including the costs and expenses
of enforcing this Indenture (including this Section 7.07) and of defending itself against any claims (whether asserted by any Holder, the Company or otherwise). The Trustee, upon a Responsible Officer receiving written notice thereof, shall
notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee may have
separate counsel and the Company shall pay the fees and expenses of such counsel. The Company need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful
misconduct, negligence or bad faith. 
 To secure the Company’s payment obligations in this Section 7.07, the Trustee shall have a
Lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. The Trustee’s right to receive payment of any amounts
due under this Section 7.07 shall not be subordinate to any other liability or indebtedness of the Company. 
 The Company’s
payment obligations pursuant to this Section 7.07 shall survive the discharge of this Indenture and the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(7)
or (8) with respect to the Company, the expenses are intended to constitute expenses of administration under any Bankruptcy Law. 
 SECTION 7.08        REPLACEMENT OF TRUSTEE. 
 The Trustee may resign at any time by
so notifying the Company. The Holders of a majority in outstanding principal amount of the Securities of a series may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee as to such series. The Company shall remove the
Trustee if: 
 (1)        the Trustee fails to comply with Section 7.10; 
 (2)        the Trustee is adjudged bankrupt or insolvent; 
  

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

 If the Trustee resigns, is removed by the Company, is removed by the Holders of a majority in outstanding principal amount of the
Securities of a series and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company
shall promptly appoint a successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall
mail a notice of its succession to the Securityholders. The retiring Trustee shall (upon payment of its charges) promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section 7.07.

 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the
Holders of 10% in outstanding principal amount of the Securities of a series at the expense of the Company may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor Trustee. 
 Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the
Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 
 SECTION
7.09        SUCCESSOR TRUSTEE BY MERGER. 
 If the Trustee consolidates with, merges or converts
into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or banking association without any further act shall be the
successor Trustee. 
 If at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the
trusts created by this Indenture, any of the Securities of a series shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such
Securities so authenticated; and if at that time any of the Securities of a series shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases 

  

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such certificates shall have the full force which it is anywhere in the Securities of a series or in this Indenture provided that the certificate of the
Trustee shall have. 
 SECTION 7.10        ELIGIBILITY; DISQUALIFICATION. 
 The Trustee shall at all times satisfy the requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus of at least $50
million as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(1) any indenture or
indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(1) are met. 
 SECTION 7.11        PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY. 
 The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned
or been removed shall be subject to TIA Section 311(a) to the extent indicated. 
 ARTICLE VIII 
 CONCERNING THE SECURITYHOLDERS 
 SECTION 8.01        EVIDENCE OF ACTION BY SECURITYHOLDERS. 
 Whenever in this
Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice,
consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of
instruments of similar tenor executed by such holders of Securities of that series in Person or by agent or proxy appointed in writing. If the Company shall solicit from the Securityholders of any series any request, demand, authorization,
direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of Securityholders entitled to give such request,
demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other action may
be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of
outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective 

  

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unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 
 SECTION 8.02        PROOF OF EXECUTION BY SECURITYHOLDERS. 
 Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require notarization)
or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a)        The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 
 (b)        The ownership of Securities shall be proved by the Security Register of such Securities or by a
certificate of the Security Registrar thereof. 
 (c)        The Trustee may require such additional
proof of any matter referred to in this Section as it shall deem necessary. 
 SECTION
8.03        WHO MAY BE DEEMED OWNERS. 
 Prior to the due presentment for registration of
transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security
(whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of (and premium,
if any) and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 
 SECTION 8.04        CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED. 
 In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any direction,
consent or waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common control
with the Company or any other obligor on the Securities of that series shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected
in relying on any such direction, consent or waiver, only Securities of such series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be
regarded as outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right so to act with 

  

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respect to such Securities and that the pledgee is not a Person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any such other obligor. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee. Also, subject to the foregoing, only Securities of a
series outstanding at the time shall be considered in any such determination. 
 SECTION
8.05        ACTIONS BINDING ON FUTURE SECURITYHOLDERS. 
 At any time prior to (but not after)
the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in
connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of
holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and
owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of
all the Securities of that series. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 SECTION 9.01        SUPPLEMENTAL
INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS. 
 In addition to any supplemental indenture otherwise authorized by this Indenture,
the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the
Securityholders, for one or more of the following purposes: 
 (1)        to cure any ambiguity,
defect, or inconsistency herein, or in the Securities of any series; 
 (2)        to comply with
Section 4.05; 
 (3)        to provide for uncertificated Securities in addition to or in place
of certificated Securities; 
  

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 (4)        to add to the covenants of the Company for the benefit
of the holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, 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 or to add any additional Events of Default for the benefit of the holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all
series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series); 
 (5)        to make any change that does not adversely affect the rights of any Securityholder in any material respect; 
 (6)        to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form
of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities; or 
 (7)        to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with
respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the
requirements of Section 7.08. 
 The Trustee is hereby authorized to join with the Company in the execution of any such supplemental
indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this Section may be executed by
the Company and the Trustee without the consent of the holders of any of the Securities at the time outstanding, notwithstanding any of the provisions of Section 9.02. 
 SECTION 9.02        SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS. 
 With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the Securities
of each series affected by such supplemental indenture or indentures at the time outstanding, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental 

  

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indenture shall, without the consent of the holders of each Security then outstanding and affected thereby: 
 (1)        change the maturity of the principal of, or any installment of principal of or interest on, any
Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be
due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01 or change the coin or currency in which any Security or any premium or interest thereon is payable, or impair the right to institute suit for
the enforcement of any such payment on or after the maturity thereof (or, in the case of redemption, on or after the redemption date), or 
 (2)        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 certain defaults hereunder and their consequences provided for in this Indenture, or 
 (3)        modify any of the provisions of this Section or Section 6.04 relating to waivers of default, 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 outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the
references to “the Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the requirements of Sections 7.08 and 9.01(8); or 
 (4)        modify the provisions of this Indenture with respect to the subordination of such Security in a manner
adverse to the holder thereof. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture
which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the holders of Securities of such series with respect to such covenant or other provision, shall be deemed not
to affect the rights under this Indenture of the holders of Securities of any other series. It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 SECTION
9.03        EFFECT OF SUPPLEMENTAL INDENTURES. 
 Upon the execution of any supplemental
indenture pursuant to the provisions of this Article, this Indenture shall, with respect to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and
immunities under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments,
and all the terms and 

  

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conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

 SECTION 9.04        SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES. 
 Securities of any series, affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental indenture pursuant
to the provisions of this Article, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon which such series may be listed, as to any matter provided for in such supplemental indenture. If
the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared by
the Company, authenticated by the Trustee and delivered in exchange for the Securities of that series then outstanding. 
 SECTION
9.05        EXECUTION OF SUPPLEMENTAL INDENTURES. 
 Upon the request of the Company, accompanied
by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the
Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not
be obligated to enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, shall be provided with an Opinion of Counsel and Officers’ Certificate as conclusive evidence that any supplemental indenture
executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution thereof; provided, however, that such
Opinion of Counsel and Officers’ Certificate need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall
transmit at the expense of the Company by mail, first class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names and addresses
appear upon the Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 
 SECTION 9.06        PAYMENT FOR CONSENT 
 Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of
interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of the Securities of a series or this Indenture with respect to the Securities of a series unless such 

  

 41 

 
consideration is offered to be paid to all Holders of a series of Securities that so consent, waive or agree to amend in the time frame set forth in
solicitation documents relating to such consent, waiver or agreement. 
 ARTICLE X 
 SATISFACTION AND DISCHARGE; DEFEASANCE 
 SECTION 10.01        SATISFACTION AND DISCHARGE. 
 This Indenture will be discharged
and will cease to be of further effect with respect to a series of Securities (except as to any surviving rights of registration of transfer or exchange of such series of Securities herein expressly provided for), and the Trustee, at the expense of
the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to such series, when: 
 (1)        either (A) all Securities of that series theretofore authenticated and delivered (other than (i) any Securities that shall have been destroyed, lost or stolen and that shall have
been replaced or paid as provided in Section 2.07 and (ii) Securities for whose payment money or noncallable Governmental Obligations have 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 10.05) have been delivered to the Trustee for cancellation; or (B) all Securities of such series not theretofore delivered to the Trustee for cancellation
(i) have become due and payable, or (ii) will by their terms become due and payable within one year, or (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds in trust for such purpose (x) moneys in an amount, or (y) noncallable Governmental Obligations the scheduled principal of and interest on
which in accordance with their terms will provide, not later than the due date of any payment, money in an amount, or (z) a combination thereof, sufficient, in the case of (y) or (z), in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, at maturity or upon redemption, all Securities of that series not theretofore delivered to the Trustee for cancellation,
including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be; 
 (2)        the Company has paid or caused to be paid all other sums payable hereunder with respect to such series by the Company; and 
 (3)        the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all the conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series of Securities have been complied with. Notwithstanding the satisfaction and discharge of this
Indenture with respect to a series of Securities, the obligations of the Trustee under Section 7.07 and, if money and or securities shall have been deposited with the Trustee pursuant to subclause (iii) of clause (1) of 

  

 42 

 
this Section, the obligations of the Trustee under Sections 10.04 and 10.05 shall survive such satisfaction and discharge. 
 SECTION 10.02        DEFEASANCE. 
 (a)        Subject to Sections 10.02(b) and 10.03, the Company at any time may terminate (1) all of its
obligations under a particular series of Securities and under this Indenture with respect to that series of Securities (“legal defeasance option”) or (2) with respect to a particular series of Securities, its obligations under
Sections 2.01(16), 9.01(4) and 9.01(7) (“covenant defeasance option”); provided, however, no deposit under this Article X shall be effective to terminate the obligations of the Company under a series of Securities or this Indenture with
respect to that series of Securities prior to 91 days following any such deposit. The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. 
 If the Company exercises its legal defeasance option, payment of the Securities may not be accelerated because of an Event of Default. If the Company
exercises its covenant defeasance option, payment of the Securities may not be accelerated because of an Event of Default specified in Sections 6.01(4) due to a violation of Sections 2.01(16), 9.01(4) and 9.01(7). 
 Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge of those
obligations that the Company terminates. 
 (b)        The Company’s obligations in Sections
2.05, 2.06, 2.07, 7.07 and 7.08 and this Article X shall survive until the Securities have been paid in full. Thereafter, the Company’s obligations in Sections 7.07 and 10.05 shall survive. 
 SECTION 10.03        CONDITIONS TO DEFEASANCE. 
 The Company may exercise its legal defeasance option or its covenant defeasance option with respect to a series of Securities only if: 
 (1)        the Company irrevocably deposits in trust with the Trustee money or Governmental Obligations for the
payment of principal of and interest on that series of the Securities to Stated Maturity or redemption, as the case may be; 
 (2)        the Company delivers to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due
and without reinvestment on the deposited Governmental Obligations plus any deposited money without reinvestment will provide cash at such times and in such amounts as will be sufficient to pay principal and interest when due on all the Securities
of that series to Stated Maturity or redemption, as the case may be; 
  

 43 

 (3)        91 days pass after the deposit is made and during the
91-day period no Default specified in Sections 6.01(7) or (8) occurs which is continuing at the end of the periods; 
 (4)        the deposit does not constitute a default under any other agreement binding on the Company; 
 (5)        the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute, or is qualified as, a regulated
investment company under the Investment Company Act of 1940; 
 (6)        in the case of the legal
defeasance option, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (B) since the date of this
Indenture there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Securityholders 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, in the same manner and at the same times as would have been the case if such legal defeasance had not occurred; 
 (7)        in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Securityholders shall not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and shall be subject to Federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such covenant defeasance had not occurred; 
 (8)        the Securityholders shall have a perfected security interest under applicable law in the cash or Governmental Obligations deposited pursuant to Section 10.03(1) above; 
 (9)        the Company shall have delivered to the Trustee an Opinion of Counsel, in form and substance
reasonably satisfactory to the Trustee, to the effect that, after the passage of 91 days following the deposit, the trust funds shall not be subject to any applicable bankruptcy, insolvency, reorganization or similar law affecting creditors’
rights generally; 
 (10)      such defeasance shall not cause the Trustee to have a conflicting interest with
respect to any securities of the Company; and 
 (11)      the Company delivers to the Trustee an
Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities and this Indenture as contemplated by this Article X have been complied with. 
 Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in accordance
with Article III. 
  

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 SECTION 10.04        APPLICATION OF TRUST MONEY.

 The Trustee shall hold in trust money or Governmental Obligations deposited with it pursuant to this Article X. It shall apply the
deposited money and the money from Governmental Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities. 
 SECTION 10.05        REPAYMENT TO COMPANY. 
 The Trustee and the Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by them on account of any
series of Securities in accordance with this Article X upon payment of all principal of and interest on the Securities of that series. Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon
request any money held by them for the payment of principal of or interest on the Securities that remains unclaimed for two years, and, thereafter, Securityholders entitled to the money must look to the Company for payment as general creditors.

 SECTION 10.06        INDEMNITY FOR GOVERNMENTAL OBLIGATIONS. 
 The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited Governmental
Obligations or the principal and interest received on such Governmental Obligations. 
 SECTION
10.07        REINSTATEMENT. 
 If the Trustee or Paying Agent is unable to apply any money or
Governmental Obligations in accordance with this Article X by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
obligations of the Company under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article X until such time as the Trustee or Paying Agent is permitted to apply all such money or
Governmental Obligations in accordance with this Article X; provided, however, that, if the Company has made any payment of interest on or principal of any Securities because of the reinstatement of its obligations, the Company shall be subrogated
to the rights of the Holders of such Securities to receive such payment from the money or Governmental Obligations held by the Trustee or Paying Agent. 
 ARTICLE XI 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND 
 DIRECTORS 
 SECTION
11.01        NO RECOURSE. 
 No recourse under or upon any obligation, covenant or agreement of
this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against 

  

 45 

 
any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this
Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the
Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the
Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator,
stockholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom,
are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 
 ARTICLE XII 
 MISCELLANEOUS PROVISIONS 
 SECTION 12.01        EFFECT ON SUCCESSORS AND ASSIGNS. 
 All the covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of the Company shall bind its successors and
assigns, whether so expressed or not. 
 SECTION 12.02        ACTIONS BY SUCCESSOR.

 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or
officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Company. 
 SECTION 12.03        SURRENDER OF COMPANY POWERS. 
 The Company by instrument in writing executed by authority of its Board of Directors and delivered to the Trustee may surrender any of the powers
reserved to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation. 
 SECTION 12.04        NOTICES. 
 Except as otherwise expressly provided herein any
notice, instruction, request or demand that by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the holders of Securities to or on the Company may be given or served by being 

  

 46 

 
deposited first class postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company with the Trustee), as
follows: 358 South Main Street, Burlington, North Carolina 27215. Any notice, election, request or demand by the Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given
or made in writing at the Corporate Trust Office of the Trustee. 
 SECTION 12.05        GOVERNING
LAW. 
 This Indenture and each Security shall be deemed to be a contract made under the internal laws of the State of New York, and for
all purposes shall be construed in accordance with the laws of said State, but without giving effect to the applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby.

 SECTION 12.06        TREATMENT OF SECURITIES AS DEBT. 
 It is intended that the Securities will be treated as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture
shall be interpreted to further this intention. 
 SECTION 12.07        COMPLIANCE CERTIFICATES
AND OPINIONS. 
 (a)        Upon any application or demand by the Company to the Trustee to take
any action under any of the provisions of this Indenture, the Company, shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent 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 have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically
required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 
 (b)        Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture
shall include 
 (i)        a statement that the Person making such certificate or
opinion has read such covenant or condition; 
 (ii)       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; 
 (iii)      a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to enable him to express an 

  

 47 

 
informed opinion as to whether or not such covenant or condition has been complied with; and 
 (iv)      a statement as to whether or not, in the opinion of such Person, such condition or covenant has
been complied with. 
 SECTION 12.08        PAYMENTS ON BUSINESS DAYS. 
 Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, pursuant to an Officers’ Certificate, or pursuant to one or more
indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if
any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 
 SECTION 12.09        CONFLICT WITH TRUST INDENTURE ACT. 
 If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of
the Trust Indenture Act, such imposed duties shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this
Indenture as so modified or to be excluded, as the case may be. 
 SECTION
12.10        COUNTERPARTS. 
 This Indenture may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 SECTION
12.11        SEPARABILITY. 
 In case any one or more of the provisions contained in this
Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such
Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 12.12        ASSIGNMENT. 
 The Company will have the
right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect wholly-owned Subsidiary of the Company, provided that, in the event of any such assignment, the Company, will remain liable for all such
obligations. Subject to the foregoing, the Indenture is binding upon and inures to the benefit of the parties thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 
  

 48 

 SECTION 12.13        WAIVER OF JURY TRIAL. 
 EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 SECTION
12.14        FORCE MAJEURE. 
 In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or
military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 ARTICLE XIII 
 SUBORDINATION OF SECURITIES 
 SECTION 13.01        SUBORDINATION TERMS. 
 The payment by the Company of the principal of, premium, if any, and interest on any series of Securities issued hereunder shall be subordinated to the
extent set forth in an indenture supplemental hereto relating to such securities. 
  

 49 

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

			
	LABORATORY CORPORATION OF AMERICA HOLDINGS
		
	By:	 	
	
	  

	Name:	 	
	
	  

	Title:	 	
	
	  

	
	  
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as
Trustee

		
	By:	 	
	
	  

	Name:	 	
	
	  

	Title:	 	
	
	  

  

 50Resignation Agreement

 Exhibit 10.1 
 RESIGNATION AGREEMENT 
 This Resignation Agreement (“Agreement”) is hereby entered
into by and between Orexigen Therapeutics, Inc., a Delaware corporation (the “Company”), and Gary D. Tollefson, M.D., Ph.D. (“Executive”). The Company and Executive are sometimes referred to herein as a
“Party” or collectively as the “Parties.” 
 RECITALS 
 WHEREAS, Executive was employed by the Company as its President and Chief Executive Officer and serves on the Board of Directors of the Company
(the “Board”); 
 WHEREAS, Executive is currently on a leave of absence, effective November 10, 2008;

 WHEREAS, Executive and the Company previously entered into an Employment Agreement dated as of April 6, 2007, as amended by
Amendment No. 1 to Employment Agreement dated as of August 22, 2007 (together, the “Employment Agreement”); 
 WHEREAS, Executive and the Company wish to enter into this Agreement for the purpose of terminating and superseding the Employment Agreement in its entirety; and 
 WHEREAS, Executive and the Company wish to terminate their employment relationship through Executive’s resignation effective as of
December 10, 2008 (the “Resignation Date”), and to resolve amicably all of their obligations to each other, including, without limitation, under the Employment Agreement. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the mutual covenants
contained in this Agreement, and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the Parties hereby agree as follows: 
  

	 	1.	Employment Agreement. The Employment Agreement shall be superseded entirely by this Agreement, and the Employment Agreement shall be terminated and be of no further force or
effect. 

  

	 	2.	Employment and Officer Status. Executive hereby resigns as an employee of the Company effective as of the Resignation Date. Executive’s separation from employment shall
be reflected in the Company’s records as a voluntary resignation. Executive hereby resigns from his position as President and Chief Executive Officer of the Company (and any other officer positions he may hold with the Company or any of its
subsidiaries) effective as of the date hereof. Executive shall execute any additional documentation necessary to effectuate such resignation. Executive’s “separation from service” for purposes of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), shall be the Resignation Date. 

  

	 	3.	Resignation from Board. Executive hereby resigns from his position as a member of the Board effective as of the date hereof. Executive shall execute any additional
documentation necessary to effectuate such resignation. 

  

 1 

	 	4.	Compensation. 

  

	 	(a)	Base Salary and Accrued Benefits. Prior to or on the Resignation Date, the Company shall issue to Executive his final paycheck, reflecting (i) his earned but unpaid base
salary through the Resignation Date and (ii) all accrued, unused vacation due Executive through the Resignation Date. Except as otherwise provided in this Section 4 and Section 5 below, Executive acknowledges and agrees
that with his final check, Executive will have received all monies, bonuses, commissions, expense reimbursement, paid time off, or other compensation he earned or was due during his employment by the Company. 

  

	 	(b)	Expense Reimbursements. The Company, within thirty (30) days after the Resignation Date, will reimburse Executive for any and all reasonable and necessary business
expenses incurred by Executive in connection with the performance of his job duties prior to the Resignation Date, which expenses shall be submitted to the Company with supporting receipts and/or documentation no later than twenty-one (21) days
after the Resignation Date. 

  

	 	(c)	Benefits. Executive’s entitlement to benefits from the Company, and eligibility to participate in the Company’s benefit plans, shall cease on the Resignation Date,
except to the extent Executive elects to and is eligible to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), for himself and any
covered dependents, at his sole expense in accordance with the provisions of COBRA. 

  

	 	(d)	Equity Awards. As of the Resignation Date, Executive has been granted and not exercised options to purchase shares of the Company’s common stock pursuant to the stock
option agreements identified on Exhibit A attached hereto (the “Option Agreements”). In accordance with the terms of such Option Agreements, and except as set forth in Section 5, on the Resignation Date,
Executive’s stock options shall cease to vest and all of the unvested stock options held by Executive pursuant to the Option Agreements shall terminate on the earlier of December 31, 2010, or consummation of a Change of Control (as defined
in the Employment Agreement). 

  

	 	(e)	Taxes. Executive understands and agrees that all payments under this Agreement will be subject to appropriate tax withholding and other deductions, as and to the extent
required by law. 

  

	 	5.	Severance Benefits. In exchange for Executive’s agreement to be bound by the terms of this Agreement, including, but not limited to, the release of claims in
Section 6, Executive shall be entitled to receive the following, which shall be the exclusive severance benefits to which Executive is entitled, unless Executive has breached the provisions of this Agreement, in which case the provisions
of Section 18(b) shall apply: 

  

	 	(a)	Severance Payments. The Company shall pay to Executive (i) the sum of $212,500 on the date which is six (6) months following the Resignation Date (June 10, 2009)
and (ii) three (3) installments in the amount of $35,417 each, payable on July 10, 2009, August 10, 2009, and September 10, 2009. 

  

	 	(b)	Payment In Lieu of Bonus. The Company shall pay Executive in a lump sum the amount of $255,000 in lieu of his 2008 bonus, within five (5) business days following
expiration of the revocation period set forth in Section 6(c)(v) (the “Effective Date”), provided Executive does not give notice of revocation. 

  

 2 

	 	(c)	Relocation Expenses. The Company shall reimburse Executive for reasonable and customary realtor expenses, closing costs and moving expenses actually incurred by Executive in
connection with the sale of his Del Mar, California residence on or before the twenty-four (24) month anniversary of the Resignation Date (provided that the residence has been listed for sale during such time, without substantial
interruptions), in an amount not to exceed $325,000.00. Such reimbursement shall be conditioned upon receipt by the Company of supporting receipts and/or documentation and/or receipts in form and substance reasonably satisfactory to the Company
(“Supporting Documentation”). To the extent that any payments or reimbursements provided to the Executive under this Agreement are deemed to constitute compensation to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would
apply, such amounts shall be paid or reimbursed to the Executive within ten (10) business days after the Company’s receipt of the Supporting Documentation, but in no event later than December 31 of the year following the year in which
the expense is incurred (or such earlier date as is set forth in this Section 5(c) with respect to such expense). The amount of any such payments eligible for reimbursement in one year shall not affect the payments or expenses that are
eligible for payment or reimbursement in any other taxable year, and the Executive’s right to such payments or reimbursement shall not be subject to liquidation or exchange for any other benefit. 

  

	 	(d)	Stock Options. Effective as of the Effective Date (whether before or after the Resignation Date), the vesting and/or exercisability of each of Executive’s outstanding
options granted pursuant to the Option Agreements shall be automatically accelerated as to the number of options that would vest over the twelve (12) month period following the Resignation Date had Executive remained continuously employed by
the Company during such period, as set forth on Exhibit A. In addition, in the event of a Change in Control on or before December 31, 2010, all of Executive’s outstanding options that were unvested as of the Resignation Date (after
giving effect to the accelerated vesting pursuant to the preceding sentence) shall vest and become exercisable. In the event that no Change in Control occurs on or before December 31, 2010, all of the unvested stock options held by Executive
pursuant to the Option Agreements shall terminate on such date. Following the Resignation Date, Executive’s vested options shall remain exercisable through December 31, 2010. The foregoing supersedes any contrary provision in the Option
Agreements or any plan under which such options were issued. 

  

	 	(e)	Attorneys’ Fees. The Company shall reimburse Executive’s reasonable and customary attorney’s fees incurred in connection with the preparation of this
Agreement, in an amount not to exceed $15,000.00. Any amounts payable under this Section 5(e) shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid to Executive within ten (10) business days
after the Company’s receipt of notice from Executive as to the amount of such attorneys’ fees, but in no event later than the last day of Executive’s taxable year following the taxable year in which Executive incurred the expenses.
The amounts provided under this Section 5(e) during any taxable year of Executive’s will not affect such amounts provided in any other taxable year of Executive’s, and Executive’s right to reimbursement for such amounts shall not
be subject to liquidation or exchange for any other benefit. 

  

 3 

 In the event of Executive’s death prior to payment of any cash amounts due under
Section 4 and Section 5(a), (b) and (e), all such remaining amounts shall be paid to Executive’s estate within five (5) days of Executive’s death (but in no event earlier than January 1, 2009). In
such event, amounts due under Section 5(c) shall remain payable for the period set forth therein. In such event, notwithstanding any contrary provision in the Option Agreements, or any plan governing such Stock Options, the options covered by
the Option Agreement shall remain exercisable and vest in accordance with Section 5(d). 
  

	 	6.	Release by Executive. 

  

	 	(a)	General Release of Claims by Executive. As a material inducement for the Company to enter into this Agreement, and in exchange for the payments provided for herein, Executive
knowingly and voluntarily waives and releases all rights and claims, known and unknown, which Executive may have against the Company and/or any of the Company’s related or affiliated entities or successors, or any of their current or former
officers, directors, managers, employees, agents, insurance carriers, auditors, accountants, attorneys or representatives (collectively, the “Company Releasees”), including any and all charges, complaints, claims, liabilities,
obligations, promises, agreements, contracts, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses of any kind. This includes, but is not limited to, claims for employment discrimination,
harassment, wrongful termination, constructive termination, violation of public policy, breach of any express or implied contract, breach of any implied covenant, fraud, intentional or negligent misrepresentation, emotional distress, defamation, or
any other claims relating to Executive’s relationship with the Company. This also includes a release of any claims under any federal, state or local laws or regulations, including, but not limited to: (1) Title VII of the Civil Rights Act
of 1964, 42 U.S.C. § 2000(e) et seq. (race, color, religion, sex, and national origin discrimination); (2) the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq. (age discrimination) (“ADEA”);
(3) Section 1981 of the Civil Rights Act of 1866, 42 U.S.C. 1981 (race discrimination); (4) the Equal Pay Act of 1963, 29 U.S.C. § 206 (equal pay); (5) the California Fair Employment and Housing Act, Cal. Gov’t. Code
§ 12900, et seq. (discrimination, including race, color, national origin, ancestry, disability, medical condition, marital status, sex, sexual orientation; sexual or racial harassment and age); (6) the California Labor Code §
200, et seq. (salary, commission, compensation, benefits and other matters); (7) the Fair Labor Standards Act, 29 U.S.C. § 201, et seq. (wage and hour matters, including overtime pay); (8) COBRA; (9) Executive Order
11141 (age discrimination); (10) Section 503 of the Rehabilitation Act of 1973, 29 U.S.C. § 701, et seq. (disability discrimination); (11) the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §
1001, et seq. (employee benefits); (12) Title I of the Americans with Disabilities Act (disability discrimination); (13) California Labor Code Section 132(a) (discrimination based on filing a workers’ compensation claim);
(14) California Civil Code § 1786, et seq. (investigation reports); (15) the Family and Medical Leave Act of 1993, 29 U.S.C. § 2601 et seq.; (16) the False Claims Act , 31 U.S.C. § 3729 et seq.;
(17) the Worker Adjustment and Retraining Notification Act, as amended, 29 U.S.C. § 2101 et seq.; (18) the Sarbanes-Oxley Act of 2002; (19) the California Equal Pay Law, as amended, Cal. Lab. Code §§ 1197.5(a),
1199.5; (20) the Moore-Brown-Roberti Family Rights Act of 1991, as amended, Cal. Gov’t Code §§12945.2, 19702.3; (21) California Labor Code §§ 1101, 1102, 69 Ops. Cal. Atty. Gen. 80 (1986); (22) California
Labor Code §§ 1102.5(a),(b); (23) the California WARN Act, Cal. Lab. Code § 1400 et seq.; (24) the California False Claims Act, Cal. Gov’t Code § 12650 et seq.; (25) the California Corporate
Criminal Liability Act, Cal. Penal Code § 387; (26) any applicable California Industrial Welfare Commission Order (wage matters); (27) federal and state securities laws; and (28) or any other federal, state or local law of
similar effect. The matters that are the subject of the releases referred to in this Section 6(a) shall be referred to collectively as the “Released Matters.” This General Release shall not, however, constitute a waiver
of any of Executive’s rights under this Agreement or claims Executive may have to vested or earned compensation and benefits under the Company’s employee benefit plans. 

  

 4 

	 	(b)	Release of Unknown Claims by Executive. Executive expressly waives all rights under Section 1542 of the Civil Code of the State of California, which reads as follows:

 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 With full
awareness and understanding of the above provisions, Executive hereby waives any rights he may have under Section 1542, as well as under any other statutes or common law principles of similar effect. Executive intends to, and hereby does,
release the Company Releasees from claims which Executive does not presently know or suspect to exist at this time. 
  

	 	(c)	ADEA Matters. Executive understands and acknowledges that: 

  

	 	(i)	This Agreement constitutes a voluntary waiver of any and all rights and claims he has against the Company as of the date of the execution of this Agreement, including rights or
claims arising under the ADEA. 

  

	 	(ii)	He has waived rights or claims pursuant to this Agreement and in exchange for consideration, the value of which exceeds payment or remuneration to which Executive was already
entitled. 

  

	 	(iii)	He is hereby advised that he may consult with an attorney of his choosing concerning this Agreement prior to executing it. 

  

	 	(iv)	He has been afforded a period of at least twenty-one (21) days to consider the terms of this Agreement, and in the event he should decide to execute this Agreement in fewer
than twenty-one (21) days, he has done so with the express understanding that he has been given and declined the opportunity to consider this Agreement for a full twenty- one (21) days, and waives the balance of the twenty-one
(21) day period. 

  

	 	(v)	He may revoke this Agreement at any time during the seven (7) days following the date of execution of this Agreement, and this Agreement shall not become effective or
enforceable until such revocation period has expired. Executive understands that if he revokes this Agreement, he shall not be entitled to any of the benefits provided by this Agreement. 

  

	 	(d)	 No Assignment. Executive warrants and represents that no portion of any of the Released Matters, and no portion of any recovery or settlement to which
Executive might be entitled, has been assigned or transferred to any other person, firm or corporation not a party to this Agreement, in any manner, including by way of subrogation or 

  

 5 

	 	 
operation of law or otherwise. If any claim, action, demand or suit should be made or instituted against the Company or any affiliate of the Company because
of any such purported assignment, subrogation or transfer, Executive agrees to indemnify and hold harmless the Company or any affiliate of the Company against such claim, action, suit or demand, including necessary expenses of investigation,
attorneys’ fees and costs. 

  

	 	7.	Limited Release by the Company. 

  

	 	(a)	The Company, on behalf of itself and its officers, directors, shareholders, subsidiaries, and affiliates, hereby knowingly and voluntarily releases and forever discharges Executive
and his heirs, executors, successors, and assigns from any and all rights, claims, demands, liabilities, actions, causes of action, and damages of whatever nature whatsoever, known or unknown, fixed or contingent, in law or in equity, which the
Company may have or claim to have arising out of, based upon, or relating to Executive’s employment by the Company, or service on the Board of Directors of the Company, other than claims arising out of, based upon, or relating to
Executive’s illegal conduct, fraud, embezzlement, intentional material misconduct, breach of fiduciary duty, or actions taken without due authorization. 

  

	 	(b)	Release of Unknown Claims by the Company. Subject to the limitations of Section 7(a), the Company expressly waives all rights under Section 1542 of the Civil
Code of the State of California, which reads as follows: 

 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH A CREDITOR DOES
NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 With full awareness and understanding of the above provisions, the Company hereby waives any rights it may have under Section 1542, as well as under
any other statutes or common law principles of similar effect, subject to the limitations of Section 7(a). The Company intends to, and hereby does, release Executive from claims which it does not presently know or suspect to exist at
this time, subject to the limitations of Section 7(a). 
  

	 	8.	 Proprietary Information. Executive acknowledges that certain information, observations and data obtained by him during the course of or related to his
employment with the Company (including, without limitation, information with respect to the Company’s and its affiliates’ operations, processes, products, inventions, business practices, finances, vendors, suppliers, customers, potential
customers, stockholders, business plans, marketing plans, proposals or methods, costs, prices, contractual relationships, regulatory status, compensation paid to employees or other terms of employment) are the sole property of the Company and
constitute trade secrets of the Company. Promptly following the execution of this Agreement (but in any event within five (5) days), Executive agrees to return all files, customer lists, financial information or other Company documentation
(excluding documents that have been publicly filed with the Securities and Exchange Commission) which are in Executive’s possession or control without making copies thereof. Except as required pursuant to applicable law, rule or regulation or
other legal compulsion or in order to assert any rights under this Agreement, Executive further agrees that he will not disclose to any person or use for his own account any of the above described trade secret 

  

 6 

	 	 
information, observations or data without the written consent of the Board. Further, Executive acknowledges that any unauthorized use of the above described
confidential information will cause irreparable harm to the Company and its affiliates and will give rise to an immediate action by any of them for injunctive relief. Executive acknowledges that he continues to be bound by the Proprietary
Information and Inventions Agreement that he signed in connection with his employment, in accordance with the terms thereof. 

  

	 	9.	Noninterference. For a period of one (1) year following the Resignation Date, Executive agrees not to interfere with the business of the Company by (a) soliciting
or attempting to solicit any employee or consultant of the Company to terminate such employee’s or consultant’s employment or service in order to become an employee, consultant or independent contractor to or for any competitor of the
Company or (b) soliciting or attempting to solicit any client, customer or other person either directly or indirectly, to direct his or its purchase of the Company’s products and/or services to any person, firm, corporation, institution or
other entity in competition with the business of the Company. 

  

	 	10.	Cooperation Clause. Executive agrees to provide reasonable assistance to the Company (including the Board and any committees thereof) and its counsel and accountants in any
financial audits or internal investigation involving securities, financial, accounting, or other matters, and in its defense of, or other participation in, any administrative, judicial, or other proceeding arising from any charge, complaint or other
action which has been or may be filed relating to the period during which Executive was employed by the Company. The Company agrees to reimburse Executive for his reasonable and actual expenses incurred in providing any cooperation or assistance
contemplated by this Agreement, and if such services exceed eight (8) hours in any calendar month to pay to Executive $250 per hour for each additional hour of service; provided, however, that the Company shall have no obligation
to compensate Executive under this Section 10 for his cooperation or assistance in any matter in which he is named as a defendant or respondent, or with respect to which Executive requests indemnification pursuant to
Section 15. 

  

	 	11.	Confidentiality of Agreement. Except as expressly set forth in Section 12 or to the extent required to comply with applicable legal requirements (including the
terms of the listing of the Company’s stock), neither Party shall issue any press release or make any public statement regarding the matters contemplated hereby without the prior approval of the other Party. The Parties acknowledge that this
Agreement must be filed by the Company with the Securities and Exchange Commission as an exhibit to its next periodic or current report, and Executive hereby consents to such filing. 

  

	 	12.	Press Release; Mutual Nondisparagement. If the Company issues any press release regarding Executive’s departure from its Company following the date hereof, the Company
shall allow Executive to review and approve it in advance. Executive agrees to present a positive public image regarding the Company and not to disparage or otherwise publish or communicate negative statements or opinions about the Company in any
way. Company agrees to present a positive public image regarding Executive and not to disparage or otherwise publish or communicate negative statements or opinions about Executive in any way. For purposes of this Section 12, internal
communications between or among management personnel, officers, and directors of the Company are not subject to the preceding sentence. Except as required by law or authorized in advance by the Board, Executive shall not communicate, directly or
indirectly, with stockholders of the Company or their representatives concerning the management of the Company, the operations of the Company, the development programs of the Company or the financial status of the Company. 

 

 7 

	 	13.	Application of Insider Trading Policies Applicable to Executive. On the third business day following the earlier of (i) the Company’s release of the one-year data
from its NB-302 clinical trial, or (ii) the Company’s financial results press release with respect to the year and quarter ending December 31, 2008, Executive will be released from the Company’s insider trading policy. Executive
acknowledges that he is aware of the prohibitions on insider trading contained in the federal securities laws. 

  

	 	14.	Section 16. Executive acknowledges that following the date hereof he will continue to be subject to certain provisions of Section 16 of the Securities Exchange Act
of 1934, as amended, and he agrees to comply with such provisions. Absent a legal determination to the contrary, the Company’s records will show that the date hereof was the last date that Executive was an “executive officer” of the
Company (as such term is defined under the Securities Exchange Act of 1934, as amended). 

  

	 	15.	Indemnification. Executive will continue to be indemnified by any applicable insurance policies, agreements, certificate of incorporation, or bylaws of the Company and as
otherwise required by law for his actions as an employee, officer, and director prior to the Resignation Date to the same extent as during his employment to the fullest extent provided by law. 

  

	 	16.	Return of Equipment. Within five (5) days of the Resignation Date, Executive shall return to the Company in good working order any equipment, instruments, or accessories
of the Company in his custody for the purpose of conducting the business of the Company without deleting, removing, or duplicating any data reflecting the Company’s proprietary information, or if not returned, account to the Company to its
reasonable satisfaction for all such equipment, instruments, or accessories. 

  

	 	17.	Dispute Resolution. Unless otherwise prohibited by law or specified below, all disputes, claims and causes of action, in law or equity, arising from or relating to this
Agreement or the Employment Agreement or their enforcement, performance, breach, or interpretation shall be resolved solely and exclusively by final and binding arbitration held in San Diego, California through JAMS (“JAMS”) under
the then existing JAMS Employment Arbitration Rules and Procedures. However, nothing in this Section is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such
arbitration. Each party in any such arbitration shall be responsible for its own attorneys’ fees, costs and necessary disbursement; provided, however, that if one party refuses to arbitrate and the other party seeks to compel
arbitration by court order, if such other party prevails, it shall be entitled to recover reasonable attorneys’ fees, costs and necessary disbursements. Pursuant to California Civil Code Section 1717, each party warrants that it was
represented by counsel in the negotiation and execution of this Agreement, including the attorneys’ fees provision herein. 

  

 8 

	 	18.	Miscellaneous Provisions. 

  

	 	(a)	The provisions of this Agreement are severable. If any provision is held to be invalid or unenforceable it shall not affect the validity or enforceability of any other provision.

  

	 	(b)	If Executive materially violates any provision of this Agreement (and such violation, if unintentional on the part of Executive, continues for a period of thirty (30) days
following receipt of written notice from the Company), any severance payments then or thereafter due from the Company to Executive may be terminated forthwith and upon such election by the Company, the Company’s obligation to pay and
Executive’s right to receive such severance payments shall terminate and be of no further force or effect. Executive’s obligations under this Agreement shall not be limited or affected by, and such provisions shall remain in full force and
effect notwithstanding the termination of any severance payments by the Company in accordance with this Section 18(b). The exercise of the right to terminate such payments shall not be deemed to be an election of remedies by the Company
and shall not in any manner modify, limit or preclude the Company from exercising any other rights or seeking any other remedies available to it at law or in equity. Notwithstanding the foregoing, in the event the Company elects to exercise its
termination rights hereunder, it shall promptly (i) remit any withheld payments into a separate account and notify Executive thereof in writing and (ii) unless otherwise agreed with Executive, commence a declaratory relief action seeking
an appropriate court determination of the validity of such interpretation. 

  

	 	(c)	Except as expressly stated herein, this Agreement, the Proprietary Information and Inventions Agreement between the Company and Executive and the exhibits hereto and thereto
represent the sole and entire agreement between the Parties with respect to the subject matters contained herein and therein and supersede all prior documents, agreements, negotiations and discussions between the Parties with respect to the subject
matters contained herein and therein. The Parties acknowledge and agree that there are no collateral agreements or representations, written or oral, regarding the terms and conditions of Executive’s employment with the Company, the separation
of Executive’s employment with the Company, and settlement of all claims between the Parties other than those expressly set forth in this Agreement and the Proprietary Information and Inventions Agreement between the Company and Executive. This
Agreement supersedes and terminates the Employment Agreement. Upon the Parties’ execution of this Agreement, neither Party shall have any further obligation to the other under the Employment Agreement. 

  

	 	(d)	No provision of this Agreement may be altered, modified or amended unless such alteration, modification, or amendment is agreed to in writing and signed by Executive on the one hand
and an executive officer of the Company on the other, which writing expressly states the intent of the Parties to modify this Agreement. 

  

	 	(e)	This Agreement shall be construed as a whole in accordance with its fair meaning and in accordance with the laws of the State of California. Any suit brought hereon shall be brought
in the state or federal courts sitting in San Diego County, California, the Parties hereby waiving any claim or defense that such forum is not convenient or proper. Each party hereby agrees that any such court shall have in personam jurisdiction
over it and consents to service of process in any manner authorized by California law. 

  

 9 

	 	(f)	The language in this Agreement shall not be construed for or against any particular Party. The headings used herein are for reference only and shall not affect the construction of
this Agreement. This Agreement has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms, and, therefore, the normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation of this Agreement. 

  

	 	(g)	No waiver by any Party hereto at any time of any breach of, or compliance with, any condition or provision of this Agreement to be performed by any other Party hereto shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

  

	 	(h)	This Agreement may be executed in one or more counterparts, and by facsimile, each of which shall be deemed to be an original as against any Party that has signed it, but all of
which together will constitute one and the same instrument. 

  

	 	(i)	Executive acknowledges that the payments and benefits provided in this Agreement may have tax ramifications to him. The Company has provided no tax or other advice to Executive on
such matters and Executive is free to consult with an accountant, legal counsel, or other tax advisor regarding the tax consequences he may face. 

  

	 	(j)	EXECUTIVE ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT CAREFULLY, UNDERSTANDS ALL OF ITS TERMS, AND AGREES TO THOSE TERMS KNOWINGLY, FREELY, VOLUNTARILY, AND WITHOUT DURESS.

  

	 	(k)	Any and all notices or other communications or deliveries required or permitted to be given or made shall be in writing and delivered personally, or sent by certified or registered
mail, return receipt requested and postage prepaid, or sent by overnight courier service as follows: 

 If to the Company, at:

 Orexigen Therapeutics, Inc. 
 3344 N. Torrey Pines Court, Suite 200 
 La Jolla, California 92037 
 Attention: General Counsel 
 If to Executive,
at: 
 Gary D. Tollefson, M.D., Ph.D. 
 9052 Diamond Pointe Drive 
 Indianapolis, IN 46236 
 or at such other address as any party may specify by notice given to such other party in accordance with this Section 18(k). The date of giving of any such notice shall be the date of hand delivery, five days
after the date of the posting of the mail or the day immediately following the date when deposited with the overnight courier. 
  

 10 

	 	(l)	To the extent the payments and benefits under this Agreement are subject to Section 409A of the Code, this Agreement shall be interpreted, construed and administered in a
manner that satisfies the requirements of Sections 409A(a)(2), (3) and (4) of the Code and the Treasury Regulations thereunder (and any applicable transition relief under Section 409A of the Code). As provided in Internal Revenue
Notice 2007-86, notwithstanding any other provision of this Agreement, with respect to an election or amendment to change a time or form of payment under this Agreement made on or after January 1, 2008 and on or before December 31, 2008,
the election or amendment shall apply only with respect to payments that would not otherwise be payable in 2008, and shall not cause payments to be made in 2008 that would not otherwise be payable in 2008. 

  

	 	(m)	Executive expressly agrees and acknowledges that if any taxes are imposed upon Executive under Section 409A of the Code in respect of any compensation or benefits payable to
the Executive, whether in connection with this Agreement or otherwise, then (i) the payment of such taxes shall be solely the Executive’s responsibility, and (ii) neither the Company, its affiliated entities nor any of their
respective past or present directors, officers, employees or agents shall have any liability for any such taxes. 

  
 [Signature Page Follows] 
  

 11 

 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the dates indicated below.

  

									
	EXECUTIVE	 		 	OREXIGEN THERAPEUTICS, INC.
				
	/s/ Gary D. Tollefson	 		 	By:	 	/s/ Eckard Weber
	Gary D. Tollefson, M.D., Ph.D.	 		 	Name:	 	Eckard Weber, M.D.,
		 		 		 	Its:	 	Executive Chairman and Interim
		 		 	President and Chief Executive Officer
		 		 	
	Dated: December 4, 2008	 		 	Dated: December 4, 2008
			
	APPROVED AS TO FORM:	 		 	
		 		 	
	STRADLING YOCCA CARLSON & RAUTH	 		 	LATHAM & WATKINS LLP
					
	By:	 	/s/ Lawrence B. Cohn	 		 	By:	 	/s/ Mark S. Pulliam
		 	Lawrence B. Cohn	 		 		 	Mark S. Pulliam
	Attorney for Gary D. Tollefson, M.D., Ph.D.	 		 	Attorney for Orexigen Therapeutics, Inc.
		 		 		 		 	
	Dated: December 4, 2008	 		 	Dated: December 4, 2008

  

 12 

 EXHIBIT A 
 STOCK OPTION AGREEMENTS 
  

	1.	Notice of Stock Option Grant and Stock Option Agreement (No.8—NQ) dated May 27, 2005 granting option to purchase 408,434 shares (subsequently converted into 204,217 shares
following one-for-two reverse stock split) of the Company’s common stock. Effective as of the Effective Date, the option shall be vested and exercisable (after accounting for the acceleration of the vesting and exercisability of such option
pursuant to Section 5(d) of the Agreement) as to 174,217 of the shares subject thereto. (Options for 30,000 shares previously exercised.) 

  

	2.	Notice of Stock Option Grant and Stock Option Agreement (No. 9—ISO) dated May 27, 2005 granting option to purchase 1,333,332 shares (subsequently converted into 666,666
shares following one-for-two reverse stock split) of the Company’s common stock. Effective as of the Effective Date, the option shall be vested (after accounting for the acceleration of the vesting and exercisability of such option pursuant to
Section 5(d) of the Agreement) as to 666,666 of the shares subject thereto. 

  

	3.	Notice of Stock Option Grant and Stock Option Agreement (No. 180—NQ) dated September 28, 2006 granting option to purchase 400,000 shares (subsequently converted into
200,000 shares following one-for-two reverse stock split) of the Company’s common stock. Effective as of the Effective Date, the option shall be vested (after accounting for the acceleration of the vesting and exercisability of such option
pursuant to Section 5(d) of the Agreement) as to 162,500 of the shares subject thereto. 

  

	4.	Notice of Stock Option Grant and Stock Option Agreement (No. 181—ISO) dated December 20, 2007 granting option to purchase 18,699 shares of the Company’s common stock.
Effective as of the Effective Date, the option shall be vested (after accounting for the acceleration of the vesting and exercisability of such option pursuant to Section 5(d) of the Agreement) as to 4,675 of the shares subject thereto.

  

	5.	Notice of Stock Option Grant and Stock Option Agreement (No. 182—NQ) dated December 20, 2007 granting option to purchase 61,301 shares of the Company’s common stock.
Effective as of the Effective Date, the option shall be vested (after accounting for the acceleration of the vesting and exercisability of such option pursuant to Section 5(d) of the Agreement) as to 35,325 of the shares subject thereto.

  

	6.	Notice of Stock Option Grant and Stock Option Agreement (No. 183 – NQ) dated August 15, 2008 granting option to purchase 310,000 shares of the Company’s common stock.
Effective as of the Effective Date, the option shall be vested (after accounting for the acceleration of the vesting and exercisability of such option pursuant to Section 5(d) of the Agreement) as to 96,875 of the shares subject thereto.

  

 13

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