Document:

Exhibit 10.2

 Exhibit 10.2 
 NORTHROP GRUMMAN CORPORATION 
 TERMS AND CONDITIONS APPLICABLE TO

 2012 RESTRICTED PERFORMANCE STOCK RIGHTS 
 GRANTED UNDER THE 2011 LONG-TERM INCENTIVE STOCK PLAN 
 These Terms and
Conditions (“Terms”) apply to certain “Restricted Performance Stock Rights” (“RPSRs”) granted by Northrop Grumman Corporation (the “Company”) in 2012 under its 2011 Long-Term Incentive Stock Plan. If you were
granted an RPSR award by the Company in 2012, the date of grant of your RPSR award and the target number of RPSRs applicable to your award are set forth in the letter from the Company announcing your RPSR award (your “Grant Letter”) and
are also reflected in the electronic stock plan award recordkeeping system (“Stock Plan System”) maintained by the Company or its designee. These Terms apply only with respect to the 2012 RPSR award. If you were granted an RPSR award, you
are referred to as the “Grantee” with respect to your award. Capitalized terms are generally defined in Section 10 below if not otherwise defined herein. 
 Each RPSR represents a right to receive one share of the Company’s Common Stock, or cash of equivalent value as provided herein subject to vesting as provided herein. The performance period
applicable to your award is January 1, 2012 to December 31, 2014 (the “Performance Period”). The target number of RPSRs subject to your award is subject to adjustment as provided herein. The RPSR award is subject to all of the
terms and conditions set forth in these Terms, and is further subject to all of the terms and conditions of the Plan, as it may be amended from time to time, and any rules adopted by the Committee, as such rules are in effect from time to time.

 

	1.	Vesting; Payment of RPSRs. 

 The RPSRs are subject to the vesting and payment provisions established by the Committee with respect to the Performance Period. RPSRs (and any Dividend Equivalents (as defined below)) that vest based on
such provisions will be paid as provided below. No fractional shares will be issued. 
 1.1 Performance-Based
Vesting of RPSRs. Subject to Sections 2 and 5 below, the RPSRs subject to the award shall vest and become nonforfeitable based on the performance methodology and goals established by the Committee for the Performance Period. At the
conclusion of the Performance Period, the Committee shall determine whether and the extent to which the performance goals have been achieved. The percentage of target RPSRs subject to the award (if any) that have vested for the Performance Period
(the “Earnout Percentage”) shall be determined by the Committee based on the methodology and goals as established by the Committee, and its determination of the Earnout Percentage shall be conclusive and binding. Any RPSRs (and related
Dividend Equivalents) subject to the award that are not vested as of the conclusion of the Performance Period after giving effect to the Committee’s determinations under this Section 1.1 shall terminate and become null and void as of the
last day of the Performance Period. 
 1.2 Payment of RPSRs. The number of RPSRs payable at the
conclusion of the Performance Period (“Vested RPSRs”) shall be determined by multiplying the Earnout Percentage by the target number of RPSRs subject to the award. The Vested RPSRs and any RPSRs that vest and become payable pursuant

 
to Section 2 or 5 may be paid out in either an equivalent number of shares of Common Stock, or, in the discretion of the Committee, in cash or in a combination of shares of Common Stock and
cash. In the event of a cash payment, the amount of payment for each Vested RPSR to be paid in cash will equal the Fair Market Value (as defined below) of a share of Common Stock as of the date the Committee determines the extent to which the
applicable RPSR performance criteria have been achieved. Vested RPSRs will be paid in the calendar year following the calendar year containing the last day of the Performance Period (and generally will be paid in the first 75 days of such year).

 1.3 Dividend Equivalents. The Grantee shall be entitled to payment for Dividend Equivalents (if any)
with respect to any Vested RPSRs and any RPSRs that vest and become payable pursuant to Section 2 or 5. For purposes of these Terms, “Dividend Equivalents” means the aggregate amount of dividends paid by the Company on a number of
shares of Common Stock equivalent to the number of Vested RPSRs (or the number of RPSRs that vest and become payable pursuant to Section 2 or 5) during the period from the beginning of the Performance Period until the date the Vested RPSRs (or
the RPSRs that vest and become payable pursuant to Section 2 or 5) are paid, without interest or other adjustments to reflect the time value of money. For these purposes, any Vested RPSRs or RPSRs that vest and become payable pursuant to
Section 2 or 5 in excess of the target number of RPSRs subject to the award shall be considered to have been granted at the beginning of the Performance Period. Dividend Equivalents (if any) will be paid at the same time as the Vested RPSRs (or
the RPSRs that vest and become payable pursuant to Section 2 or 5) to which

 

  
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they relate are paid. Dividend Equivalents will be paid in cash. 
  

	2.	Early Termination of Award; Termination of Employment. 

 2.1 General. The RPSRs (and related Dividend Equivalents) subject to the award shall terminate and become null and void prior to the conclusion of the Performance Period if and
when (a) the award terminates in connection with a Change in Control pursuant to Section 5 below, or (b) except as provided below in this Section 2 and in Section 5, the Grantee ceases for any reason to be an employee of the
Company or one of its subsidiaries. 
 2.2 Termination of Employment Due to Retirement, Death or
Disability. The number of RPSRs (and related Dividend Equivalents) subject to the award shall vest on a prorated basis as provided herein if the Grantee’s employment by the Company and its subsidiaries terminates due to the
Grantee’s Retirement, death, or Disability and, in each case, only if the Grantee has completed at least six (6) consecutive calendar months of employment with the Company or a subsidiary during the three-year Performance Period.
Such prorating of RPSRs (and related Dividend Equivalents) shall be based on the number of full months the Grantee was actually employed by the Company or one of its subsidiaries out of the 36 month Performance Period (the number of prorated RPSRs,
the “Prorated RPSRs”). Partial months of employment during the Performance Period, even if substantial, shall not be counted for purposes of prorated vesting. Any RPSRs (and related Dividend Equivalents) subject to the award that do not
vest in accordance with this Section 2.2 upon a termination of the Grantee’s employment due to Retirement, death or Disability shall terminate immediately upon such termination of employment. 

Death or Disability. In the case of death or Disability (a) the Earnout Percentage of the
Grantee’s Prorated RPSRs (and related Dividend Equivalents) will be deemed to be 100% (target), regardless of actual performance, and (b) payment of the Prorated RPSRs (and related Dividend Equivalents) that vest pursuant to this
Section 2.2 will be made in the calendar year containing the 75th day following the date of the Grantee’s death or Disability (and generally will be paid on or about such 75th day). 
 Retirement in General. Subject to the following provisions of this Section 2.2, in the case of Retirement, (a) the entire Performance Period will be used to calculate the Grantee’s
Vested RPSRs, (b) the Earnout Percentage of the Grantee’s Prorated RPSRs (and related Dividend Equivalents) will be determined based on actual performance for the Performance

 
Period, and (c) payment of the Prorated RPSRs that become Vested RPSRs (and related Dividend Equivalents) will be made in the calendar year following the calendar year containing the last
day of the Performance Period (and generally will be paid in the first 75 days of such year). 
 In determining the
Grantee’s eligibility for Retirement, service is measured by dividing (a) the number of days the Grantee was employed by the Company or a subsidiary in the period commencing with his or her last date of hire by the Company or a subsidiary
through and including the date on which the Grantee is last employed by the Company or a subsidiary, by (b) 365. If the Grantee ceased to be employed by the Company or a subsidiary and was later rehired by the Company or a subsidiary, the
Grantee’s service prior to the break in service shall be disregarded in determining service for such purposes; provided that, if the Grantee’s employment with the Company or a subsidiary had terminated due to the Grantee’s Retirement,
or by the Company or a subsidiary as part of a reduction in force (in each case, other than a termination by the Company or a subsidiary for cause) and, within the two-year period following such termination of employment (the “break in
service”) the Grantee was subsequently rehired by the Company or a subsidiary, then the Grantee’s period of service with the Company or a subsidiary prior to and ending with the break in service will be included in determining service for
such purposes. In the event the Grantee is employed by a business that is acquired by the Company or a subsidiary, the Company shall have discretion to determine whether the Grantee’s service prior to the acquisition will be included in
determining service for such purposes. 
 Retirement Due to Government Service. In the case of a
Governmental Service Retirement by the Grantee (a) the Performance Period used to calculate the Grantee’s Vested RPSRs will be deemed to have ended as of the most recent date that performance has been measured by the Company with respect
to the RPSRs prior to the Grantee’s Retirement (but in no event shall such date be more than one year before the Grantee’s Retirement), (b) the Earnout Percentage of the Grantee’s Prorated RPSRs (and related Dividend Equivalents)
will be determined based on actual performance for that short Performance Period, and (c) payment of the Prorated RPSRs that become Vested RPSRs (and Dividend Equivalents thereon) will be made within 10 days after Retirement. 

 2.3 Other Terminations of Employment. Subject to Section 5.2, all RPSRs (and related
Dividend Equivalents) subject to the award shall terminate immediately upon a termination of the Grantee’s employment: (a) for any reason other than due to the Grantee’s Retirement, death or Disability; or (b) for Retirement,
death or Disability, if the six-month 

 

  
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employment requirement under Section 2.2 above is not satisfied. 

2.4 Leave of Absence. Unless the Committee otherwise provides (at the time of the leave or otherwise), if the
Grantee is granted a leave of absence by the Company, the Grantee (a) shall not be deemed to have incurred a termination of employment at the time such leave commences for purposes of the award, and (b) shall be deemed to be employed by
the Company for the duration of such approved leave of absence for purposes of the award. A termination of employment shall be deemed to have occurred if the Grantee does not timely return to active employment upon the expiration of such approved
leave or if the Grantee commences a leave that is not approved by the Company. 
 2.5 Salary
Continuation. Subject to Section 2.4 above, the term “employment” as used herein means active employment by the Company and salary continuation without active employment (other than a leave of absence approved by the Company
that is covered by Section 2.4) will not, in and of itself, constitute “employment” for purposes hereof (in the case of salary continuation without active employment, the Grantee’s cessation of active employee status shall,
subject to Section 2.4, be deemed to be a termination of “employment” for purposes hereof). Furthermore, salary continuation will not, in and of itself, constitute a leave of absence approved by the Company for purposes of the award.

 2.6 Sale or Spinoff of Subsidiary or Business Unit. For purposes of the RPSRs (and related Dividend
Equivalents) subject to the award, a termination of employment of the Grantee shall be deemed to have occurred if the Grantee is employed by a subsidiary or business unit and that subsidiary or business unit is sold, spun off, or otherwise divested,
the Grantee does not otherwise continue to be employed by the Company or one of its subsidiaries after such event, and the divested entity or business (or its successor or a parent company) does not assume the award in connection with such
transaction. In the event of such a termination of employment, the termination shall be deemed to be a Retirement treated as provided for in Section 2.2 (subject to Section 5). 

2.7 Continuance of Employment Required. Except as expressly provided in Section 2.2, Section 2.4 and in
Section 5, the vesting of the RPSRs (and related Dividend Equivalents) subject to the award requires continued employment through the last day of the Performance Period as a condition to the vesting of any portion of the award. Employment for
only a portion of the Performance Period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment. Nothing
contained in these Terms, the Grant Letter, the Stock Plan System, or the

 
Plan constitutes an employment commitment by the Company or any subsidiary, affects the Grantee’s status (if the Grantee is otherwise an at-will employee) as an employee at will who is
subject to termination without cause, confers upon the Grantee any right to continue in the employ of the Company or any subsidiary, or interferes in any way with the right of the Company or of any subsidiary to terminate such employment at any
time. 
 2.8 Death. In the event of the Grantee’s death subsequent to the vesting of RPSRs but prior
to the delivery of shares or other payment with respect to such RPSRs (and related Dividend Equivalents), the Grantee’s Successor shall be entitled to any payments to which the Grantee would have been entitled under these Terms with respect to
such RPSRs. 
  

	3.	Non-Transferability and Other Restrictions. 

 3.1 Non-Transferability. The award, as well as the RPSRs (and related Dividend Equivalents) subject to the award, are non-transferable and shall not be subject in any manner to sale,
transfer, anticipation, alienation, assignment, pledge, encumbrance or charge. The foregoing transfer restrictions shall not apply to transfers to the Company. Notwithstanding the foregoing, the Company may honor any transfer required pursuant to
the terms of a court order in a divorce or similar domestic relations matter to the extent that such transfer does not adversely affect the Company’s ability to register the offer and sale of the underlying shares on a Form S-8 Registration
Statement and such transfer is otherwise in compliance with all applicable legal, regulatory and listing requirements. 

3.2 Recoupment of Awards. Any payments or issuances of shares with respect to the award are subject to recoupment
pursuant to the Company’s Policy Regarding the Recoupment of Certain Performance-Based Compensation Payments as in effect from time to time as well as any recoupment or similar provisions of applicable law, and the Grantee shall promptly make
any reimbursement requested by the Board or Committee pursuant to such policy or applicable law with respect to the award. Further, the Grantee agrees, by accepting the award, that the Company and its affiliates may deduct from any amounts it may
owe the Grantee from time to time (such as wages or other compensation) to the extent of any amounts the Grantee is required to reimburse the Company pursuant to such policy or applicable law with respect to the award. 

 

	4.	Compliance with Laws; No Stockholder Rights Prior to Issuance. 

The Company’s obligation to make any payments or issue any shares with respect to the award is subject to

 

  
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full compliance with all then applicable requirements of law, the Securities and Exchange Commission, or other regulatory agencies having jurisdiction over the Company and its shares, and of any
exchange upon which stock of the Company may be listed. The Grantee shall not have the rights and privileges of a stockholder, including without limitation the right to vote or receive dividends (except as expressly provided in these Terms with
respect to Dividend Equivalents), with respect to any shares which may be issued in respect of the RPSRs until the date appearing on the certificate(s) for such shares (or, in the case of shares entered in book entry form, the date that the shares
are actually recorded in such form for the benefit of the Grantee), if such shares become deliverable. 
  

	5.	Adjustments; Change in Control. 

 5.1 Adjustments. The RPSRs and the shares subject to the award are subject to adjustment upon the occurrence of events such as stock splits, stock dividends and other changes in
capitalization in accordance with Section 6(a) of the Plan. In addition, for RPSRs that do not use a relative total shareholder return metric as the applicable performance criterion, the applicable performance criteria and goals are subject to
adjustment pursuant to Section 8 of the Plan. Any such adjustment or determination not to make any adjustment shall be conclusive and binding. 
 5.2 Possible Acceleration on Change in Control. Notwithstanding the provisions of Section 2 hereof, and further subject to the Company’s ability to terminate the award as
provided in Section 5.3 below, the Grantee shall be entitled to vesting of the award as provided below in the event of the Grantee’s termination of employment if at the time of the termination, the termination occurs either within the
Protected Period corresponding to a Change in Control of the Company or within twenty-four (24) calendar months following the date of a Change in Control of the Company, and the Grantee’s employment by the Company and its subsidiaries is
involuntarily terminated by the Company and its subsidiaries for reasons other than Cause or by the Grantee for Good Reason. 

Notwithstanding anything else contained herein to the contrary, the termination of the Grantee’s employment (or other events
giving rise to Good Reason) shall not entitle the Grantee to any accelerated vesting pursuant to this Section 5.2 if there is objective evidence that, as of the commencement of the Protected Period, the Grantee had specifically been identified
by the Company as an employee whose employment would be terminated as part of a corporate restructuring or downsizing program that commenced prior to the Protected Period and such termination of employment was expected at that time to occur within
six (6) months. 

 In the event the Grantee is entitled to payment in accordance with
the foregoing provisions of this Section 5.2, then the Grantee will be eligible for payment of a number of RPSRs (and related Dividend Equivalents) determined in accordance with the following formula: (a) the Earnout Percentage determined
in accordance with Section 1 but calculated based on performance for the portion of the three-year Performance Period ending on the last day of the month coinciding with or immediately preceding the date of the termination of the Grantee’s
employment, multiplied by (b) the target number of RPSRs subject to the award. Payment of any amount due under this Section 5.2 will be made in the calendar year following the calendar year containing the last day of the Performance Period
(and generally will be paid in the first 75 days of such year) unless: (i) the Grantee dies or has a Disability, in which case such payment will be made in the calendar year containing the 75th day following the date of the Grantee’s death or Disability, as
the case may be (and generally will be paid on or about such 75th day), or (ii) a Governmental Service Retirement by the Grantee, in which case payment will be made within 10 days after Retirement. In the event the Grantee is entitled to payment in accordance with
the foregoing provisions of this Section 5.2, then this Section 5.2 shall control as to the amount and timing of the payment of the award notwithstanding anything in Section 2.2 to the contrary. 

5.3 Automatic Acceleration; Early Termination. If the Company undergoes a Change in Control triggered by clause
(iii) or (iv) of the definition thereof and the Company is not the surviving entity and the successor to the Company (if any) (or a Parent thereof) does not agree in writing prior to the occurrence of the Change in Control to continue and
assume the award following the Change in Control, or if for any other reason the award would not continue after the Change in Control, then upon the Change in Control the Grantee shall be entitled to a payment of the RPSRs (and related Dividend
Equivalents) as provided below and the award shall terminate. Unless the Committee expressly provides otherwise in the circumstances, no acceleration of vesting of the award shall occur pursuant to this Section 5.3 in connection with a Change
in Control if either (a) the Company is the surviving entity, or (b) the successor to the Company (if any) (or a Parent thereof) agrees in writing prior to the Change in Control to assume the award. The Committee may make adjustments
pursuant to Section 6(a) of the Plan and/or deem an acceleration of vesting of the award pursuant to this Section 5.3 to occur sufficiently prior to an event if necessary or deemed appropriate to permit the Grantee to realize the benefits
intended to be conveyed with respect to the shares underlying the award; provided, however, that, the Committee may reinstate the original terms of the award if the related event does not actually occur.

 

  
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 In the event the Grantee is entitled to a payment in accordance with
the foregoing provisions of this Section 5.3, then the Grantee will be eligible for payment of a number of RPSRs (and related Dividend Equivalents) determined in accordance with the following formula: (a) the Earnout Percentage determined
in accordance with Section 1 but calculated based on performance for the portion of the three-year Performance Period ending on the date of the Change in Control of the Company, multiplied by (b) the target number of RPSRs subject to the
award. Payment of any amount due under this Section 5.3 will be made in the calendar year following the calendar year containing the last day of the Performance Period (and generally will be paid in the first 75 days of such year) unless:
(i) the Grantee dies or has a Disability, in which case such payment will be made in the calendar year containing the
75th day following the date of the Grantee’s death or
Disability, as the case may be (and generally will be paid on or about such 75th day), or (ii) a Governmental Service Retirement by the Grantee, in which case payment will be made within 10 days after Retirement. In the event the Grantee is employed by the Company or a
subsidiary immediately prior to the Change in Control and is entitled to payment in accordance with the foregoing provisions of this Section 5.3, then this Section 5.3 shall control as to the amount and timing of the payment of the award
notwithstanding anything in Section 2.2 or 5.2 to the contrary. In the event of the Grantee’s Retirement pursuant to Section 2.2 prior to a Change in Control described in the first paragraph of this Section 5.3 in which the award
is to be terminated, the Earnout Percentage shall no longer be based on the portion of the Performance Period otherwise considered for purposes of Section 2.2 but shall instead be calculated based on performance for the portion of the
three-year Performance Period ending on the date of the Change in Control of the Company. 
  

	6.	Tax Matters. 

 6.1 Tax Withholding. The Company or the subsidiary which employs the Grantee shall be entitled to require, as a condition of making any payments or issuing any shares
upon vesting of the RPSRs and related Dividend Equivalents, that the Grantee or other person entitled to such shares or other payment pay the minimum sums required to be withheld by federal, state, local or other applicable tax law with respect to
such vesting or payment. Alternatively, the Company or such subsidiary, in its discretion, may make such provisions for the withholding of taxes as it deems appropriate (including, without limitation, withholding the taxes due from compensation
otherwise payable to the Grantee or reducing the number of shares otherwise deliverable with respect to the award (valued at their then Fair Market Value) by the amount necessary to satisfy such statutory minimum withholding obligations).

 6.2 Transfer Taxes. The Company will pay all federal and state transfer taxes, if any, and other
fees and expenses in

 
connection with the issuance of shares in connection with the vesting of the RPSRs. 
 6.3 Compliance with Code. The Committee shall administer and construe the award, and may amend the Terms of the award, in a manner designed to comply with the Code and to avoid
adverse tax consequences under Code Section 409A or otherwise. 
 6.4 Unfunded Arrangement. The
right of the Grantee to receive payment under the award shall be an unsecured contractual claim against the Company. As such, neither the Grantee nor any Successor shall have any rights in or against any specific assets of the Company based on the
award. Awards shall at all times be considered entirely unfunded for tax purposes. 
  

	7.	Committee Authority. 

 The Committee has the discretionary authority to determine any questions as to the date when the Grantee’s employment terminated and the cause of such termination and to interpret any provision of
these Terms, the Grant Letter, the Stock Plan System, the Plan, and any other applicable rules. Any action taken by, or inaction of, the Committee relating to or pursuant to these Terms, the Grant Letter, the Stock Plan System, the Plan, or any
other applicable rules shall be within the absolute discretion of the Committee and shall be conclusive and binding on all persons. 
  

	8.	Plan; Amendment. 

 The RPSRs (and related Dividend Equivalents) subject to the award are governed by, and the Grantee’s rights are subject to, all of the terms and conditions of the Plan and any other rules adopted by
the Committee, as the foregoing may be amended from time to time. The Grantee shall have no rights with respect to any amendment of these Terms or the Plan unless such amendment is in writing and signed by a duly authorized officer of the Company.
In the event of a conflict between the provisions of the Grant Letter and/or the Stock Plan System and the provisions of these Terms and/or the Plan, the provisions of these Terms and/or the Plan, as applicable, shall control. 

 

	9.	Required Holding Period. 

 The holding requirements of this Section 9 shall apply to any Grantee who is an elected or appointed officer of the Company on the date any RPSRs are paid (or, if earlier, on the date the
Grantee’s employment by the Company and its subsidiaries terminates for any reason). Any Grantee subject to this Section 9 shall not be permitted to sell, transfer, anticipate, alienate, assign, pledge, encumber or charge 50% of the total
number (if 

 

  
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any) of shares of Common Stock the Grantee receives as payment for the RPSRs until the earlier of (A) the third anniversary of the date such shares of Common Stock are paid to the Grantee,
(B) the date the Grantee’s employment by the Company and its subsidiaries terminates due to the Grantee’s death or Disability, or (C) the occurrence of a Change in Control that results in termination and payment under
Section 5.2 or 5.3 above. Should the Grantee’s employment by the Company and its subsidiaries terminate (regardless of the reason for such termination, but other than due to the Grantee’s death or Disability or a Change in Control
related termination under Section 5.2), such holding period requirement shall not apply as to any shares acquired upon payment of RPSRs to the extent such payment is made more than one year after such termination of employment. (For purposes of
clarity, in such circumstances the holding period requirement will apply as to any shares acquired upon payment of RPSRs within one year after such a termination of employment.) For purposes of this Section 9, the total number of shares of
Common Stock the Grantee receives as payment for RPSRs shall be determined on a net basis after taking into account any shares otherwise deliverable with respect to the award that the Company withholds to satisfy tax obligations pursuant to
Section 6.1. Any shares of Common Stock received in respect of shares that are covered by the holding period requirements of this Section 9 (such as shares received in respect of a stock split or stock dividend) shall be subject to the
same holding period requirements as the shares to which they relate. 
  

	10.	Definitions. 

 Whenever used in these Terms, the following terms shall have the meanings set forth below and, when the meaning is intended, the initial letter of the word is capitalized: 

“Board” means the Board of Directors of the Company. 

“Cause” means the occurrence of either or both of the following: 

 

	 	(i)	The Grantee’s conviction for committing an act of fraud, embezzlement, theft, or other act constituting a felony (other than traffic related offenses, as a result
of vicarious liability, or as a result of good faith actions as an officer of the Company); or 

  

	 	(ii)	The willful engaging by the Grantee in misconduct that is significantly injurious to the Company. However, no act, or failure to act, on the Grantee’s part shall
be considered “willful” unless done, or omitted to be done, by the Grantee not in good faith and without reasonable belief that his or her action or omission was in the best interest of the Company.

 “Change in Control” is used as defined in the Plan. 

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

“Committee” means the Company’s Compensation Committee or any successor committee appointed by the Board to
administer the Plan. 
 “Common Stock” means the Company’s common stock. 

“Disability” means, with respect to a Grantee, that the Grantee: (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months; or (ii) is, by reason of any
medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Grantee’s employer; all construed and interpreted consistent with the definition of “Disability” set forth in Code Section 409A(a)(2)(C). 

“Fair Market Value” is used as defined in the Plan; provided, however, the Committee in determining such Fair Market
Value for purposes of the award may utilize such other exchange, market, or listing as it deems appropriate. 
 “Good
Reason” means, without the Grantee’s express written consent, the occurrence of any one or more of the following: 
  

	 	(i)	 A material and substantial reduction in the nature or status of the Grantee’s authorities or responsibilities (when such authorities and/or
responsibilities are viewed in the aggregate) from their level in effect on the day immediately prior to the start of the Protected Period, other than (A) an inadvertent act that is remedied by the Company promptly after receipt of notice
thereof given by the Grantee, and/or (B) changes in the nature or status of the Grantee’s authorities or responsibilities that, in the aggregate, would generally be viewed by a nationally-recognized executive placement firm as resulting in
the Grantee having not materially and substantially fewer authorities and responsibilities (taking into consideration the Company’s industry) when compared to the authorities and responsibilities

 

  
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applicable to the position held by the Grantee immediately prior to the start of the Protected Period. The Company may retain a nationally-recognized executive placement firm for purposes of
making the determination required by the preceding sentence and the written opinion of the firm thus selected shall be conclusive as to this issue. 

 In addition, if the Grantee is a vice president, the Grantee’s loss of vice-president status will constitute “Good Reason”; provided that the loss of the title of “vice president”
will not, in and of itself, constitute Good Reason if the Grantee’s lack of a vice president title is generally consistent with the manner in which the title of vice president is used within the Grantee’s business unit or if the loss of
the title is the result of a promotion to a higher level office. For the purposes of the preceding sentence, the Grantee’s lack of a vice-president title will only be considered generally consistent with the manner in which such title is used
if most persons in the business unit with authorities, duties, and responsibilities comparable to those of the Grantee immediately prior to the commencement of the Protected Period do not have the title of vice-president. 

 

	 	(ii)	A reduction by the Company in the Grantee’s annualized rate of base salary as in effect on the first to occur of the start of the Performance Period or the start
of the Protected Period, or as the same shall be increased from time to time. 

  

	 	(iii)	A material reduction in the aggregate value of the Grantee’s level of participation in any of the Company’s short and/or long-term incentive compensation
plans (excluding stock-based incentive compensation plans), employee benefit or retirement plans, or policies, practices, or arrangements in which the Grantee participates immediately prior to the start of the Protected Period provided; however,
that a reduction in the aggregate value shall not be deemed to be “Good Reason” if the reduced value remains substantially consistent with the average level of other employees who have positions commensurate with the position held by the
Grantee immediately prior to the start of the Protected Period. 

  

	 	(iv)	A material reduction in the Grantee’s aggregate level of participation in the Company’s stock-based incentive compensation plans from the level in effect
immediately prior to the start of the Protected Period; provided, however, that a reduction in the aggregate level of participation shall not be deemed to be “Good Reason” if the reduced level of participation remains

	 	
substantially consistent with the average level of participation of other employees who have positions commensurate with the position held by the Grantee immediately prior to the start of the
Protected Period. 

  

	 	(v)	The Grantee is informed by the Company that his or her principal place of employment for the Company will be relocated to a location that is greater than fifty
(50) miles away from the Grantee’s principal place of employment for the Company at the start of the corresponding Protected Period; provided that, if the Company communicates an intended effective date for such relocation, in no event
shall Good Reason exist pursuant to this clause (v) more than ninety (90) days before such intended effective date. 

 The Grantee’s right to terminate employment for Good Reason shall not be affected by the Grantee’s incapacity due to physical or mental illness. The Grantee’s continued employment shall not
constitute a consent to, or a waiver of rights with respect to, any circumstances constituting Good Reason herein. 

“Governmental Service Retirement” means a Retirement by the Grantee where the Grantee accepts a position in the
federal government or a state or local government and an accelerated distribution under the award is permitted under Code Section 409A based on such government employment and related ethics rules. 

“Parent” is used as defined in the Plan. 
 “Plan” means the Northrop Grumman 2011 Long-Term Incentive Stock Plan, as it may be amended form time to time. 
 The “Protected Period” corresponding to a Change in Control of the Company shall be a period of time determined in accordance with the following: 

 

	 	(i)	If the Change in Control is triggered by a tender offer for shares of the Company’s stock or by the offeror’s acquisition of shares pursuant to such a tender
offer, the Protected Period shall commence on the date of the initial tender offer and shall continue through and including the date of the Change in Control; provided that in no case will the Protected Period commence earlier than the date that is
six (6) months prior to the Change in Control. 

  

	 	(ii)	 If the Change in Control is triggered by a merger, consolidation, or reorganization of the Company with or involving any other corporation, the
Protected Period shall commence on the date that serious and substantial discussions first take

 

  
 7 

	 	
place to effect the merger, consolidation, or reorganization and shall continue through and including the date of the Change in Control; provided that in no case will the Protected Period
commence earlier than the date that is six (6) months prior to the Change in Control. 

  

	 	(iii)	In the case of any Change in Control not described in clause (i) or (ii) above, the Protected Period shall commence on the date that is six (6) months
prior to the Change in Control and shall continue through and include the date of the Change in Control. 

“Retirement” or “Retire” means that the Grantee’s employment terminates in any of the following
circumstances and other than in connection with a termination by the Company or a subsidiary for cause: 
  

	 	(i)	a termination of employment after the Grantee has attained age 55 with at least 10 years of service. 

 

	 	(ii)	a termination of employment by the Company or a subsidiary as part of a reduction in force and, at the time of such termination, the Grantee has attained age 53 with at
least 10 years of service. 

  

	 	(iii)	a termination of employment by the Company or a subsidiary as part of a reduction in force and, at the time of such termination, the sum of the Grantee’s age and
years of service is at least 75. 

 In the case of a Grantee who is an officer of the Company subject to the Company’s
mandatory retirement at age 65 policy, “Retirement” or “Retire” shall also include as to that Grantee (without limiting the Grantee’s ability to Retire pursuant to the preceding sentence) a termination of the Grantee’s
employment pursuant to such mandatory retirement policy (regardless of the Grantee’s years of service and other than in connection with a termination by the Company or a subsidiary for cause). 

“Successor” means the person acquiring a Grantee’s rights to a grant under the Plan by will or by the laws of
descent or distribution. 

 
 

  
 8Form of Indenture

 Exhibit 4.1 
 BIODELIVERY SCIENCES INTERNATIONAL, INC. 
 and 

                       
                                         
                    , as Trustee 
 FORM OF INDENTURE 
 Dated as of
            ,             
 TABLE OF CONTENTS 
  

							
	 	    	 	  	PAGE	 
	 ARTICLE 1       DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	 1.1.
	    	 DEFINITIONS
	  	 	1	  
			
	 1.2.
	    	 OTHER DEFINITIONS
	  	 	5	  
			
	 1.3.
	    	 INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT
	  	 	6	  
			
	 1.4.
	    	 RULES OF CONSTRUCTION
	  	 	6	  
		
	 ARTICLE 2       THE SECURITIES
	  	 	7	  
			
	 2.1.
	    	 ISSUABLE IN SERIES
	  	 	7	  
			
	 2.2.
	    	 ESTABLISHMENT OF TERMS OF SERIES OF SECURITIES
	  	 	7	  
			
	 2.3.
	    	 EXECUTION AND AUTHENTICATION
	  	 	9	  
			
	 2.4.
	    	 REGISTRAR AND PAYING AGENT
	  	 	10	  
			
	 2.5.
	    	 PAYING AGENT TO HOLD ASSETS IN TRUST
	  	 	11	  
			
	 2.6.
	    	 SECURITYHOLDER LISTS
	  	 	12	  
			
	 2.7.
	    	 TRANSFER AND EXCHANGE
	  	 	12	  
			
	 2.8.
	    	 REPLACEMENT SECURITIES
	  	 	12	  
			
	 2.9.
	    	 OUTSTANDING SECURITIES
	  	 	13	  
			
	 2.10.
	    	 WHEN TREASURY SECURITIES DISREGARDED; DETERMINATION OF HOLDERS’ ACTION
	  	 	13	  
			
	 2.11.
	    	 TEMPORARY SECURITIES
	  	 	14	  
			
	 2.12.
	    	 CANCELLATION
	  	 	14	  
			
	 2.13.
	    	 PAYMENT OF INTEREST; DEFAULTED INTEREST; COMPUTATION OF INTEREST
	  	 	14	  

							
	 2.14.
	    	CUSIP NUMBER	  	 	15	  
			
	 2.15.
	    	PROVISIONS FOR GLOBAL SECURITIES	  	 	15	  
			
	 2.16.
	    	PERSONS DEEMED OWNERS	  	 	16	  
		
	 ARTICLE 3       REDEMPTION
	  	 	16	  
			
	 3.1.
	    	NOTICES TO TRUSTEE	  	 	16	  
			
	 3.2.
	    	SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED	  	 	17	  
			
	 3.3.
	    	NOTICE OF REDEMPTION	  	 	17	  
			
	 3.4.
	    	EFFECT OF NOTICE OF REDEMPTION	  	 	18	  
			
	 3.5.
	    	DEPOSIT OF REDEMPTION PRICE	  	 	18	  
			
	 3.6.
	    	SECURITIES REDEEMED IN PART	  	 	19	  
		
	 ARTICLE 4       COVENANTS
	  	 	19	  
			
	 4.1.
	    	PAYMENT OF SECURITIES	  	 	19	  
			
	 4.2.
	    	SEC REPORTS	  	 	19	  
			
	 4.3.
	    	COMPLIANCE CERTIFICATE	  	 	20	  
			
	 4.4.
	    	CORPORATE EXISTENCE	  	 	20	  
		
	 ARTICLE 5       SUCCESSOR CORPORATION
	  	 	21	  
			
	 5.1.
	    	LIMITATION ON CONSOLIDATION, MERGER AND SALE OF ASSETS	  	 	21	  
			
	 5.2.
	    	SUCCESSOR PERSON SUBSTITUTED	  	 	21	  
		
	 ARTICLE 6       DEFAULTS AND REMEDIES
	  	 	22	  
			
	 6.1.
	    	EVENTS OF DEFAULT	  	 	22	  
			
	 6.2.
	    	ACCELERATION	  	 	23	  
			
	 6.3.
	    	REMEDIES	  	 	23	  
			
	 6.4.
	    	WAIVER OF PAST DEFAULTS AND EVENTS OF DEFAULT	  	 	24	  
			
	 6.5.
	    	CONTROL BY MAJORITY	  	 	24	  
			
	 6.6.
	    	LIMITATION ON SUITS	  	 	24	  
			
	 6.7.
	    	RIGHTS OF HOLDERS TO RECEIVE PAYMENT	  	 	25	  
			
	 6.8.
	    	COLLECTION SUIT BY TRUSTEE	  	 	25	  
			
	 6.9.
	    	TRUSTEE MAY FILE PROOFS OF CLAIM	  	 	25	  

							
	 6.10.
	    	PRIORITIES	  	 	26	  
			
	 6.11.
	    	UNDERTAKING FOR COSTS	  	 	26	  
		
	 ARTICLE 7       TRUSTEE
	  	 	27	  
			
	 7.1.
	    	DUTIES OF TRUSTEE	  	 	27	  
			
	 7.2.
	    	RIGHTS OF TRUSTEE	  	 	28	  
			
	 7.3.
	    	INDIVIDUAL RIGHTS OF TRUSTEE	  	 	29	  
			
	 7.4.
	    	TRUSTEE’S DISCLAIMER	  	 	29	  
			
	 7.5.
	    	NOTICE OF DEFAULT	  	 	29	  
			
	 7.6.
	    	REPORTS BY TRUSTEE TO HOLDERS	  	 	29	  
			
	 7.7.
	    	COMPENSATION AND INDEMNITY	  	 	30	  
			
	 7.8.
	    	REPLACEMENT OF TRUSTEE	  	 	30	  
			
	 7.9.
	    	SUCCESSOR TRUSTEE BY CONSOLIDATION, MERGER OR CONVERSION	  	 	31	  
			
	 7.10.
	    	ELIGIBILITY; DISQUALIFICATION	  	 	31	  
			
	 7.11.
	    	PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY	  	 	32	  
			
	 7.12.
	    	PAYING AGENTS	  	 	32	  
		
	 ARTICLE 8       AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	 	32	  
			
	 8.1.
	    	WITHOUT CONSENT OF HOLDERS	  	 	32	  
			
	 8.2.
	    	WITH CONSENT OF HOLDERS	  	 	33	  
			
	 8.3.
	    	COMPLIANCE WITH TRUST INDENTURE ACT	  	 	34	  
			
	 8.4.
	    	REVOCATION AND EFFECT OF CONSENTS	  	 	34	  
			
	 8.5.
	    	NOTATION ON OR EXCHANGE OF SECURITIES	  	 	35	  
			
	 8.6.
	    	TRUSTEE TO SIGN AMENDMENTS, ETC.	  	 	35	  
		
	 ARTICLE 9       DISCHARGE OF INDENTURE; DEFEASANCE
	  	 	35	  
			
	 9.1.
	    	DISCHARGE OF INDENTURE	  	 	35	  
			
	 9.1.
	    	LEGAL DEFEASANCE	  	 	36	  
			
	 9.3.
	    	COVENANT DEFEASANCE	  	 	36	  
			
	 9.4.
	    	CONDITIONS TO LEGAL DEFEASANCE OR COVENANT DEFEASANCE	  	 	37	  
			
	 9.5.
	    	DEPOSITED MONEY AND U.S. AND FOREIGN GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS	  	 	38	  

							
	 9.6.
	    	REINSTATEMENT	  	 	39	  
			
	 9.7.
	    	MONEYS HELD BY PAYING AGENT	  	 	39	  
			
	 9.8.
	    	MONEYS HELD BY TRUSTEE	  	 	39	  
		
	 ARTICLE 10       MISCELLANEOUS
	  	 	40	  
			
	 10.1.
	    	TRUST INDENTURE ACT CONTROLS	  	 	40	  
			
	 10.2.
	    	NOTICES	  	 	40	  
			
	 10.3.
	    	COMMUNICATIONS BY HOLDERS WITH OTHER HOLDERS	  	 	41	  
			
	 10.4.
	    	CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT	  	 	41	  
			
	 10.5.
	    	STATEMENT REQUIRED IN CERTIFICATE AND OPINION	  	 	42	  
			
	 10.6.
	    	RULES BY TRUSTEE AND AGENTS	  	 	42	  
			
	 10.7.
	    	BUSINESS DAYS; LEGAL HOLIDAYS; PLACE OF PAYMENT	  	 	42	  
			
	 10.8.
	    	GOVERNING LAW	  	 	42	  
			
	 10.9.
	    	NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS	  	 	43	  
			
	 10.10.
	    	NO RECOURSE AGAINST OTHERS	  	 	43	  
			
	 10.11.
	    	SUCCESSORS	  	 	43	  
			
	 10.12.
	    	MULTIPLE COUNTERPARTS	  	 	43	  
			
	 10.13.
	    	TABLE OF CONTENTS, HEADINGS, ETC.	  	 	43	  
			
	 10.14.
	    	SEVERABILITY	  	 	43	  
			
	 10.15.
	    	SECURITIES IN A FOREIGN CURRENCY OR IN EUROS	  	 	43	  
			
	 10.16.
	    	JUDGMENT CURRENCY	  	 	44	  

 CROSS-REFERENCE TABLE 

 

			
	 TIA SECTION
	  	 INDENTURE SECTION

	310(a)(1)(2)(5)	  	7.10
	310(a)(3)(4)	  	Inapplicable
	310(b)	  	7.8; 7.10
	310©	  	Inapplicable
		
	311(a)(b)	  	7.11
	311©	  	Inapplicable
		
	312(a)	  	2.6
	312(b)(c)	  	10.3
		
	313(a)(b)	  	7.6
	313©	  	7.6; 10.2
	313(d)	  	7.6
		
	314(a)	  	4.2; 4.4; 10.2
	314(b)	  	N/A
	314©(1)(2)	  	10.4; 10.5
	314©(3)	  	Inapplicable
	314(d)	  	Inapplicable
	314(e)	  	10.5
	314(f)	  	Inapplicable
		
	315(a)	  	7.1, 7.2
	315(b)	  	7.5; 10.2
	315©	  	7.1
	315(d)	  	7.1; 7.2
	315(e)	  	6.11
		
	316(a)(last sentence)	  	2.10
	316(a)(1)(A)	  	6.5
	316(a)(1)(B)	  	6.4
	316(a)(2)	  	8.2
	316(b)	  	6.7
	316©	  	8.4
		
	317(a)(1)	  	6.8
	317(a)(2)	  	6.9
	317(b)	  	2.5; 7.12
		
	318(a)	  	10.1

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

 FORM OF INDENTURE 

INDENTURE, dated as
of                     ,         , by and between BioDelivery Sciences International, Inc., a Delaware
corporation, as Issuer (the “Company”) and                             , a
                             organized under the laws of
                            , as Trustee (the “Trustee”). 

RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its secured or unsecured debentures, notes, bonds or other evidences of
indebtedness to be issued in one or more series (the “Securities”), as herein provided, on such terms and up to such principal amount as may from time to time be authorized in or pursuant to one or more resolutions of the Board of
Directors or by supplemental indenture. 
 All things necessary to make this Indenture a valid agreement of the Company in
accordance with its terms have been done, and the execution and delivery thereof have been in all respects duly authorized by the parties hereto. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of
the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities of a Series thereof, as follows: 

ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 
  

	1.1.	DEFINITIONS. 

“Affiliate” of any specified Person means any other Person which, directly or indirectly through one or more intermediaries,
controls, or is controlled by or is under common control with, such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of
voting securities, by agreement or otherwise. 
 “Agent” means any Registrar, Paying Agent, co-registrar or agent for
service of notices and demands. 
 “Board of Directors” means the Board of Directors of the Company or any committee
duly authorized to act therefor. 
 “Board Resolution” means a copy of a resolution certified pursuant to an
Officers’ Certificate to have been duly adopted by the Board of Directors of the Company and to be in full force and effect on the date of such certification which has been delivered to the Trustee. 

“Capital Stock” means, with respect to any Person, any and all shares or other equivalents (however designated) of capital
stock, partnership interests or any other participation, right or other interest in the nature of an equity interest in such Person or any option, warrant or other security convertible into any of the foregoing. 

“Company” means the party named as such in the first paragraph of this Indenture until a successor replaces such party pursuant
to Article 5 of this Indenture, and thereafter means the successor and any other primary obligor on the Securities. 

 “Company Order” means a written order signed in the name of the Company by two
Officers, one of whom must be its Chief Executive Officer or its Chief Financial Officer. 
 “Company Request” means
any written request signed in the name of the Company by its Chief Executive Officer, its President, any Vice President, its Chief Financial Officer or its Treasurer and attested to by its Secretary or any Assistant Secretary. 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be
principally administered. 
 “Default” means any event that is, or that with the passing of time or giving of notice
or both would be, an Event of Default. 
 “Depository” means, with respect to the Securities of any Series issuable or
issued in whole or in part in the form of one or more Global Securities, the Person designated as Depository for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange Act, until a successor Depository
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depository” shall mean each Person who is then a Depository hereunder, and if at any time there is more than one such Person, such Persons.

 “Dollars” means the currency of the United States of America. 

“Euro” means the single currency of participating member states of the economic and monetary union as contemplated in the
Treaty on European Union. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of the United States of
America. 
 “Foreign Government Obligations” means, with respect to Securities that are denominated in a Foreign
Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by, or
acting as an agency or instrumentality of, such government, the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i) and (ii), are not callable
or redeemable at the option of the issuer thereof. 
 “GAAP” means generally accepted accounting principles
consistently applied as in effect in the United States of America from time to time. 
 “Global Security” or
“Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2, evidencing all or part of a Series of Securities issued to the Depository for such Series or its nominee, and
registered in the name of such Depository or nominee, and bearing the legend set forth in Section 2.15(c) (or such other legend(s) as may be applied to such Securities in accordance with Section 2.2(24)). 

“Holder” or “Securityholder” means the Person in whose name a Security is registered on the Registrar’s books.

 “Indebtedness” means (without duplication), with respect to any Person, any indebtedness at any time outstanding,
secured or unsecured, contingent or otherwise, which is for borrowed money (whether or not the recourse of the lender is to the whole of the assets of such Person or only to a portion thereof), or evidenced by bonds, notes, debentures or similar
instruments, or representing the balance deferred and unpaid of the purchase price of any property (excluding any balances that constitute accounts payable or trade payables, and other accrued liabilities arising in the ordinary course of business),
if and to the extent any of the foregoing indebtedness would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP. 

 “Indenture” means this Indenture as amended, restated or supplemented from time to
time. 
 “Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment
of interest on such Security. 
 “Lien” means, with respect to any property or assets of any Person, any mortgage or
deed of trust, pledge, hypothecation, assignment, deposit arrangement, security interest, lien, charge, easement, encumbrance, preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with
respect to such property or assets (including, without limitation, any capitalized lease obligation, conditional sales or other title retention agreement having substantially the same economic effect as any of the foregoing). 

“Maturity,” when used with respect to any Security, means the date on which the principal of such Security, or an installment
of principal, becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption, notice of option to elect payment or otherwise. 

“Officer” means the Chief Executive Officer, the President, any Vice President, the Chief Financial Officer, the Treasurer or
the Secretary of the Company, or any other officer designated by the Board of Directors, as the case may be. 

“Officers’ Certificate” means, with respect to any Person, a certificate signed by the Chairman, Chief Executive Officer,
President or any Senior or Executive Vice President and the Chief Financial Officer or any Treasurer of such Person, that shall comply with applicable provisions of this Indenture. 

“Opinion of Counsel” means a written opinion from legal counsel, which counsel is reasonably acceptable to the Trustee. The
counsel may be an employee of or counsel to the Company. 
 “Person” means any individual, corporation, limited
liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government (including any agency or political subdivision thereof). 

“Redemption Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption pursuant to
this Indenture. 
 “Responsible Officer,” when used with respect to the Trustee, means any officer within the
corporate trust department or division of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers, and also means,
with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 
 “SEC” means the United States Securities and Exchange Commission as constituted from time to time, or any successor performing substantially the same functions. 

“Securities” means the securities that are issued under this Indenture, as amended or supplemented from time to time pursuant
to this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Series” or “Series of Securities” means each series of debentures, notes, bonds or other debt instruments of the
Company created pursuant to Sections 2.1 and 2.2. 
 “Significant Subsidiary” means (i) any direct or indirect
Subsidiary of the Company that would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the date hereof, or (ii) any group
of direct or indirect Subsidiaries of the Company that, taken together as a group, would be a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is
in effect on the date hereof. 

 “Stated Maturity,” when used with respect to any Security or any installment of
principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security, or such installment of principal or interest, is due and payable, and when used with respect to any other
Indebtedness, means the date specified in the instrument governing such Indebtedness as the fixed date on which the principal of such Indebtedness, or any installment of interest thereon, is due and payable. 

“Subsidiary” of any specified Person means any corporation, limited liability company, partnership, joint venture, association
or other business entity, whether now existing or hereafter organized or acquired, (i) in the case of a corporation, of which more than 50% of the total voting power of the Capital Stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors thereof is held, directly or indirectly, by such Person or any of its Subsidiaries; or (ii) in the case of a partnership, joint venture, association or other business entity, with respect to
which such Person or any of its Subsidiaries has the power to direct or cause the direction of the management and policies of such entity by contract or otherwise, or if in accordance with GAAP such entity is consolidated with such Person for
financial statement purposes. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Section 77aaa-77bbbb)
as in effect on the date of this Indenture (except as provided in Section 8.3). 
 “Trustee” means the party
named as such in this Indenture until a successor replaces it pursuant to this Indenture, and thereafter means the successor, and if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any
Series shall mean the Trustee with respect to Securities of that Series. 
 “U.S. Government Obligations” means direct
non-callable obligations of, or non-callable obligations guaranteed by, the United States of America for the payment of which obligation or guarantee the full faith and credit of the United States of America is pledged. 

 

	1.2.	OTHER DEFINITIONS. 

 The
definitions of the following terms may be found in the sections indicated as follows: 
  

			
	 TERM
	  	 DEFINED IN SECTION

		
	 “Bankruptcy Law”
	  	6.1
		
	 “Business Day”
	  	10.7
		
	 “Covenant Defeasance”
	  	9.3
		
	 “Custodian”
	  	6.1
		
	 “Event of Default”
	  	6.1
		
	 “Journal”
	  	10.15
		
	 “Judgment Currency”
	  	10.16
		
	 “Legal Defeasance”
	  	9.2
		
	 “Legal Holiday”
	  	10.7
		
	 “Market Exchange Rate”
	  	10.15
		
	 “Paying Agent”
	  	2.4
		
	 “Place of Payment”
	  	10.7
		
	 “Registrar”
	  	2.4
		
	 “Required Currency”
	  	10.16
		
	 “Service Agent”
	  	2.4

	1.3.	INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. 

 Whenever this Indenture refers to a provision of the TIA, the portion of such provision required to be incorporated herein in order for this Indenture to be qualified under the TIA is incorporated by
reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 
 “indenture securities” means the Securities. 
 “indenture
securityholder” means a Holder or Securityholder. 
 “indenture to be qualified” means this Indenture.

 “indenture trustee” or “institutional trustee” means the Trustee. 

“obligor on the indenture securities” means the Company. 

All other terms used in this Indenture that are defined by the TIA, defined in the TIA by reference to another statute or defined by SEC
rule have the meanings therein assigned to them. 
  

	1.4.	RULES OF CONSTRUCTION. 

 Unless
the context otherwise requires: 
 (1) a term has the meaning assigned to it herein, whether defined expressly or by reference;

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

(3) “or” is not exclusive; 
 (4) words in the singular include the plural, and in the plural include the singular; 
 (5) words used herein implying any gender shall apply to each gender; and 
 (6)
the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

ARTICLE 2 

THE SECURITIES 
  

	2.1.	ISSUABLE IN SERIES. 

 The
aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is $[        ]. The Securities may be issued in one or more Series. All Securities of a Series shall be
identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority granted under a Board Resolution. In the case of Securities
of a Series to be issued from time to time, the Board Resolution, 

 
Officers’ Certificate or supplemental indenture may provide for the method by which specified terms (such as interest rate, Stated Maturity, record date or date from which interest shall
accrue) are to be determined. Securities may differ between Series in respect of any matters, PROVIDED, that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture. 

 

	2.2.	ESTABLISHMENT OF TERMS OF SERIES OF SECURITIES. 

 At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2(1) and either as to such Securities within the
Series or as to the Series generally in the case of Subsections 2.2(2) through 2.2(24)) by a Board Resolution, a supplemental indenture or an Officers’ Certificate, in each case, pursuant to authority granted under a Board Resolution:

 (1) the title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any
other Series); 
 (2) any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 8.5);

 (3) the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series
will be issued; 
 (4) the date or dates on which the principal of the Securities of the Series is payable; 

(5) the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates
(including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or
dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any Interest Payment Date; 
 (6) the place or places where the principal of, and interest and premium, if any, on, the Securities of the Series shall be payable, or the method of such payment, if by wire transfer, mail or other
means; 
 (7) if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon
which the 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 the Securities of the Series pursuant to any sinking fund or analogous provisions 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) the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof, and other detailed terms and
provisions of such repurchase obligations; 
 (10) if other than denominations of
$[        ] and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable; 
 (11) the forms of the Securities of the Series in bearer (if to be issued outside of the United States of America) or fully registered form (and, if in fully registered form, whether the Securities will
be issuable as Global Securities); 

 (12) if other than the principal amount thereof, the portion of the principal amount of the
Securities of the Series that shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.2; 
 (13) the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, including, but not limited to, the Euro, and, if such currency of denomination is a
composite currency other than the Euro, the agency or organization, if any, responsible for overseeing such composite currency; 

(14) the designation of the currency, currencies or currency units in which payment of the principal of, and interest and premium, if
any, on, the Securities of the Series will be made; 
 (15) if payments of principal of, or interest or premium, if any, on, the
Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

 (16) the manner in which the amounts of payment of principal of, or interest and premium, if any, on, the Securities of the
Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

(17) the provisions, if any, relating to any collateral provided for the Securities of the Series; 

(18) any addition to or change in the covenants set forth in Articles 4 or 5 that applies to Securities of the Series; 

(19) any addition to or change in the Events of Default which applies to any Securities of the Series, and any change in the right of the
Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2; 
 (20) the terms and conditions, if any, for conversion of the Securities into or exchange of the Securities for shares of common stock or preferred stock of the Company that apply to Securities of the
Series; 
 (21) any depositories, interest rate calculation agents, exchange rate calculation agents or other agents with
respect to Securities of such Series if other than those appointed herein; 
 (22) the terms and conditions, if any, upon which
the Securities shall be subordinated in right of payment to other Indebtedness of the Company; 
 (23) if applicable, that the
Securities of the Series, in whole or any specified part, shall be defeasible pursuant to Article 9; and 
 (24) any other terms
of the Securities of the Series (which terms shall not be inconsistent with the provisions of this Indenture, except as permitted by Section 8.1, but which may modify or delete any provision of this Indenture insofar as it applies to such
Series). 
 All Securities of any one Series need not be issued at the same time, and may be issued from time to time,
consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture or Officers’ Certificate referred to above, however, the authorized principal amount of any Series may not be increased
to provide for issuances of additional Securities of such Series, unless otherwise provided in such Board Resolution, supplemental indenture or Officers’ Certificate. 

 

	2.3.	EXECUTION AND AUTHENTICATION. 

The Securities shall be executed on behalf of the Company by two Officers of the Company or an Officer and an Assistant Secretary of the
Company. Each such signature may be either manual or facsimile. The Company’s seal may be impressed, affixed, imprinted or reproduced on the Securities and may be in facsimile form. 

 If an Officer whose signature is on a Security no longer holds that office at the time the
Security is authenticated, the Security shall nevertheless be valid. 
 A Security shall not be valid until authenticated by the
manual signature of the Trustee or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. The Trustee shall at any time, and from time to time, authenticate Securities for
original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order. Such Company Order may authorize authentication and delivery
pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing. Each Security shall be dated the date of its authentication. 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal
amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8. 

Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.1) shall be fully
protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that
Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section 10.4. 

The Trustee shall have the right to decline to authenticate and deliver any Securities of any Series: (a) if the Trustee, being
advised in writing by outside counsel, determines that such action may not lawfully be taken; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or
vice-presidents shall reasonably determine that such action would expose the Trustee to personal liability, or cause it to have a conflict of interest with respect to Holders of any then outstanding Series of Securities. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may
authenticate Securities whenever the Trustee may do so. Any appointment shall be evidenced by an instrument signed by an authorized officer of the Trustee, a copy of which shall be furnished to the Company. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company. 

 

	2.4.	REGISTRAR AND PAYING AGENT. 

 The
Company shall maintain in each Place of Payment for any Series of Securities (i) an office or agency where such Securities may be presented for registration of transfer or for exchange (“Registrar”), (ii) an office or agency
where such Securities may be presented for payment (“Paying Agent”), and PROVIDED, 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 register for the Securities maintained by the Registrar), and (iii) an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served (“Service Agent”). The
Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying agents. The Company shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office, or to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands
may be made or served at the address of the Trustee as set forth in Section 10.2. If the Company acts as Paying Agent, it shall segregate the money held by it for the payment of principal of, and interest and premium, if any, on, the Securities
and hold it as a separate trust fund. The Company may change any Paying Agent, Registrar, co-registrar or any other Agent without notice to any Securityholder. 

 The Company may also from time to time designate one or more other offices or agencies where
the Securities may be presented or surrendered for any or all such purposes, and may from time to time rescind such designations; PROVIDED, HOWEVER, that no such designation or rescission shall in any manner relieve the Company of its obligation to
maintain an office or agency in each Place of Payment for Securities of any Series for such purposes. The Company hereby initially designates the Corporate Trust Office of the Trustee as such office of the Company. The Company shall give prompt
written notice to the Trustee of such designation or rescission, and of any change in the location of any such other office or agency. 
 The Company shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to
such Agent. The Company shall notify the Trustee of the name and address of any such Agent. If the Company fails to maintain a Registrar or Paying Agent, or agent for service of notices and demands, or fails to give the foregoing notice, the Trustee
shall act as such. The Company hereby appoints the Trustee as the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time
Securities of that Series are first issued. 
  

	2.5.	PAYING AGENT TO HOLD ASSETS IN TRUST. 

 The Trustee as Paying Agent shall, and the Company shall require each Paying Agent other than the Trustee to agree in writing that each Paying Agent shall, hold in trust for the benefit of the Holders of
any Series of Securities or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest or premium, if any, on, such Series of Securities (whether such assets have been distributed to it by the Company or any other
obligor on such Series of Securities), and the Company and the Paying Agent shall notify the Trustee in writing of any Default by the Company (or any other obligor on such Series of Securities) in making any such payment. The Company at any time may
require a Paying Agent to distribute all assets held by it to the Trustee and account for any assets disbursed, and the Trustee may, at any time during the continuance of any payment default with respect to any Series of Securities, upon written
request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the
Paying Agent, the Paying Agent shall have no further liability for such assets. 
  

	2.6.	SECURITYHOLDER LISTS. 

 The
Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities. If the Trustee is not the Registrar, the Company shall furnish
to the Trustee as of each regular record date for the payment of interest on the Securities of a Series and before each related Interest Payment Date, and at such other times as the Trustee may request in writing, a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of Securityholders of each Series of Securities. 
  

	2.7.	TRANSFER AND EXCHANGE. 

 When
Securities of a Series are presented to the Registrar with a request to register the transfer thereof, the Registrar shall register the transfer as requested if the requirements of applicable law are met, and when such Securities of a Series are
presented to the Registrar with a request to exchange them for an equal principal amount of other authorized denominations of Securities of the same Series, the Registrar shall make the exchange as requested. To permit transfers and exchanges, upon
surrender of any Security for registration of transfer at the office or agency maintained pursuant to Section 2.4, the Company shall execute and the Trustee shall authenticate Securities at the Registrar’s request. 

If Securities are issued as Global Securities, the provisions of Section 2.15 shall apply. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 

 Every Security presented or surrendered for registration of transfer or for exchange shall
(if so required by the Company or the Registrar or a co-registrar) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar or a co-registrar, duly executed by the Holder thereof
or his attorney duly authorized in writing. 
 Any exchange or transfer shall be without charge, except that the Company may
require payment by the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation to a transfer or exchange, but this provision shall not apply to any exchange pursuant to Section 2.11, 3.6 or 8.5.
The Trustee shall not be required to register transfers of Securities of any Series, or to exchange Securities of any Series, for a period of [    ] days before the record date for selection for redemption of such Securities. The
Trustee shall not be required to exchange or register transfers of Securities of any Series called or being called for redemption in whole or in part, except the unredeemed portion of such Security being redeemed in part. 

 

	2.8.	REPLACEMENT SECURITIES. 

 If a
mutilated Security is surrendered to the Trustee, or if the Holder of a Security presents evidence to the satisfaction of the Company and the Trustee that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the
Trustee shall authenticate a replacement Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding. An indemnity bond may be required by the Company or the Trustee that is sufficient in
the reasonable judgment of the Company or the Trustee, as the case may be, to protect the Company, the Trustee or any Agent from any loss which any of them may suffer if a Security is replaced. The Company may charge such Holder for the
Company’s out-of-pocket expenses in replacing a Security, including the fees and expenses of the Trustee. Every replacement Security shall constitute an original additional obligation of the Company, whether or not the destroyed, lost or stolen
Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder. 

 

	2.9.	OUTSTANDING SECURITIES. 

Securities outstanding at any time are all Securities authenticated by the Trustee, except for those canceled by it, those delivered to it
for cancellation and those described in this Section 2.9 as not outstanding. 
 If a Security is replaced pursuant to
Section 2.8 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding until the Company and the Trustee receive proof satisfactory to each of them that the replaced Security is held by a bona fide purchaser. A
mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof pursuant to Section 2.8. 
 If a Paying Agent holds on a Redemption Date or the Stated Maturity money sufficient to pay the principal of, premium, if any, and accrued interest on, Securities payable on that date, and is not
prohibited from paying such money to the Holders thereof pursuant to the terms of this Indenture (PROVIDED, that if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made), then on and after that date such Securities cease to be outstanding and interest on them ceases to accrue. 
 A Security does not cease to be outstanding solely because the Company or an Affiliate holds the Security. 
  

	2.10.	WHEN TREASURY SECURITIES DISREGARDED; DETERMINATION OF HOLDERS’ ACTION. 

 In determining whether the Holders of the required aggregate principal amount of the Securities of any Series have concurred in any direction, waiver or consent, the Securities of any Series owned by the
Company or any other obligor on such Securities, or by any Affiliate of any of them, shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only
Securities of such Series which the Trustee actually knows are so owned 

 
shall be so disregarded. Securities of such Series so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to the Securities of such Series and that the pledgee is not the Company or any other obligor on the Securities of such Series, or an Affiliate of any of them. 

 

	2.11.	TEMPORARY SECURITIES. 

 Until
definitive Securities are ready for delivery, the Company may prepare and execute, and the Trustee shall authenticate, temporary Securities. Temporary Securities shall be substantially in the form, and shall carry all rights, of definitive
Securities, but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and execute, and the Trustee shall authenticate, definitive Securities in exchange for
temporary Securities without charge to the Holder. 
  

	2.12.	CANCELLATION. 

 All Securities
surrendered for payment, redemption or registration of transfer or exchange, or for credit against any sinking fund payment, shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee for cancellation. The Company may at
any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the
Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for transfer, exchange or
payment. The Trustee or, at the direction of the Trustee, the Registrar or the Paying Agent, and no one else, shall cancel, and at the written request of the Company shall dispose of, all Securities surrendered for transfer, exchange, payment or
cancellation. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the Indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for
cancellation pursuant to this Section 2.12. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section 2.12, except as expressly permitted by this Indenture. 

 

	2.13.	PAYMENT OF INTEREST; DEFAULTED INTEREST; COMPUTATION OF INTEREST. 

 Except as otherwise provided as contemplated by Section 2.2 with respect to any Series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Person in whose name that Security is registered at the close of business on the regular record date for such interest, as provided in the Board Resolution, supplemental indenture hereto or Officers’
Certificate establishing the terms of such Series. 
 If the Company defaults in a payment of interest on the Securities, it
shall pay the defaulted amounts, plus any interest payable on defaulted amounts pursuant to Section 4.1, to the Persons who are Securityholders on a subsequent special record date, which date shall be the [    ] day next
preceding the date fixed by the Company for the payment of defaulted interest, or the next succeeding Business Day if such date is not a Business Day. At least [    ] days before the special record date, the Company shall mail or
cause to be mailed to each Securityholder, with a copy to the Trustee, a notice that states the special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid.

 Except as otherwise specified as contemplated by Section 2.2 for Securities of any Series, interest on the Securities of
each Series shall be computed on the basis of a 360-day year of twelve 30-day months. 
  

	2.14.	CUSIP NUMBER. 

 The Company in
issuing the Securities may use one or more “CUSIP” numbers, and, if the Company does so, the Trustee shall use the CUSIP number(s) in notices of redemption or exchange as a convenience to Holders, PROVIDED, that any such notice may state
that no representation is made as to the correctness or accuracy of the CUSIP number(s) printed in the notice or on the Securities, and that reliance may be placed only on the other identification numbers printed on the Securities, and that any such
redemption or exchange shall not be affected by any defect in or omission of any such numbers. 

	2.15.	PROVISIONS FOR GLOBAL SECURITIES. 

(a) A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a
Series shall be issued in whole or in part in the form of one or more Global Securities, and the Depository for such Global Securities or Securities. 
 (b) Notwithstanding any provisions to the contrary contained in Section 2.7 and in addition thereto, if, and only if the Depository (i) at any time is unwilling or unable to continue as
Depository for such Global Security or ceases to be a clearing agency registered under the Exchange Act and (ii) a successor Depository is not appointed by the Company within [    ] days after the date the Company is so
informed in writing or becomes aware of the same, the Company promptly will execute and deliver to the Trustee definitive Securities, and the Trustee, upon receipt of a Company Request for the authentication and delivery of such definitive
Securities (which the Company will promptly execute and deliver to the Trustee) and an Officers’ Certificate to the effect that such Global Security shall be so exchangeable, will authenticate and deliver definitive Securities, without charge,
registered in such names and in such authorized denominations as the Depository shall direct in writing (pursuant to instructions from its direct and indirect participants or otherwise) in an aggregate principal amount equal to the principal amount
of the Global Security with like tenor and terms. Upon the exchange of a Global Security for definitive Securities, such Global Security shall be canceled by the Trustee. Unless and until it is exchanged in whole or in part for definitive
Securities, as provided in this Section 2.15(b), a Global Security may not be transferred except as a whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such
Depository or another nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository. 
 (c) Any Global Security issued hereunder shall bear a legend in substantially the following form: 
 “This Security is a Global Security within the meaning of the Indenture hereinafter referred to, and is registered in the name of the Depository or a nominee of the Depository. This Security is
exchangeable for Securities registered in the name of a Person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the
Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.” 

(d) The Depository, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand,
authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 
 (e) Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of, and interest and premium, if any, on, any Global
Security shall be made to the Depository or its nominee in its capacity as the Holder thereof. 
 (f) Except as provided in
Section 2.15(e) above, the Company, the Trustee and any Agent shall treat a Person as the Holder of such principal amount of outstanding Securities of any Series represented by a Global Security as shall be specified in a written statement of
the Depository (which may be in the form of a participants’ list for such Series) with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to
this Indenture, PROVIDED, that until the Trustee is so provided with a written statement, it may treat the Depository or any other Person in whose name a Global Security is registered as the owner of such Global Security for the purpose of receiving
payment of the principal of, and any premium and (subject to Section 2.13) any interest on, such Global Security and for all other purposes whatsoever, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be
affected by notice to the contrary. 

	2.16.	PERSONS DEEMED OWNERS. 

 Prior to
due presentment of a Security for registration of transfer, the Company, the Trustee, the Registrar and any agent of the Company, the Registrar or the Trustee may treat the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of the principal of, and any premium and (subject to Section 2.13) any interest on, such Security and for all other purposes whatsoever, and none of the Company, the Trustee, the Registrar or any
agent of the Company, the Trustee or the Registrar shall be affected by notice to the contrary. 
 ARTICLE 3 

REDEMPTION 
  

	3.1.	NOTICES TO TRUSTEE. 

 The Company
may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities, or may covenant to redeem and pay the Series of Securities or any part thereof, prior to the Stated Maturity thereof at such time and on
such terms as provided for in such Securities or the related Board Resolution, supplemental indenture or Officers’ Certificate. If a Series of Securities is redeemable and the Company elects to redeem all or part of such Series of Securities,
it shall notify the Trustee of the Redemption Date and the principal amount of Securities to be redeemed at least 45 days (unless a shorter notice shall be satisfactory to the Trustee) before the Redemption Date. Any such notice may be canceled at
any time prior to notice of such redemption being mailed to any Holder, and shall thereby be void and of no effect. 
  

	3.2.	SELECTION BY TRUSTEE OF SECURITIES TO BE REDEEMED. 

 Unless otherwise indicated for a particular Series of Securities by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if fewer than all of the Securities of a Series are to be
redeemed, the Trustee shall select the Securities of a Series to be redeemed pro rata, by lot or by any other method that the Trustee considers fair and appropriate (unless the Company specifically directs the Trustee otherwise) and, if such
Securities are listed on any securities exchange, by a method that complies with the requirements of such exchange. 
 The
Trustee shall make the selection from Securities of a Series outstanding and not previously called for redemption, and shall promptly notify the Company in writing of the Securities selected for redemption and, in the case of any Security selected
for partial redemption, the principal amount thereof to be redeemed at least [    ] but not more than [    ] days before the Redemption Date. Securities of a Series in denominations of
$[        ] may be redeemed only in whole. The Trustee may select for redemption portions of the principal of Securities of a Series that have denominations larger than
$[        ]. Securities of a Series and portions of them it selects shall be in amounts of $[        ] or, with respect to Securities of any Series issuable in other
denominations pursuant to Section 2.2(10), the minimum principal denomination for each Series and integral multiples thereof. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities
called for redemption. 
  

	3.3.	NOTICE OF REDEMPTION. 

 Unless
otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least [    ] days, and no more than [    ] days, before a Redemption Date,
the Company shall mail, or cause to be mailed, a notice of redemption by first-class mail to each Holder of Securities to be redeemed at his or her last address as the same appears on the registry books maintained by the Registrar. The notice shall
identify the Securities to be redeemed and shall state: 
 (1) the Redemption Date; 

(2) the redemption price, and that such redemption price shall become due and payable on the Redemption Date; 

(3) if any Security of a Series is being redeemed in part, the portion of the principal amount of such Security of a Series to be
redeemed and that, after the Redemption Date and upon surrender of such Security of a Series, a new Security or Securities in principal amount equal to the unredeemed portion will be issued; 

 (4) the name and address of the Paying Agent; 

(5) that Securities of a Series called for redemption must be surrendered to the Paying Agent to collect the redemption price, and the
place or places where each such Security is to be surrendered for such payment; 
 (6) that, unless the Company defaults in
making the redemption payment, interest on the Securities of a Series called for redemption ceases to accrue on the Redemption Date, and the only remaining right of the Holders of such Securities is to receive payment of the redemption price upon
surrender to the Paying Agent of the Securities redeemed; 
 (7) if fewer than all of the Securities of a Series are to be
redeemed, the identification of the particular Securities of a Series (or portion thereof) to be redeemed, as well as the aggregate principal amount of Securities of a Series to be redeemed and the aggregate principal amount of Securities of a
Series to be outstanding after such partial redemption. 
 (8) the CUSIP number, if any, printed on the Securities being
redeemed; and 
 (9) 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. 
 At the Company’s request, the Trustee shall give the notice of redemption in
the Company’s name and at the Company’s sole expense. 
  

	3.4.	EFFECT OF NOTICE OF REDEMPTION. 

Once the notice of redemption described in Section 3.3 is mailed, Securities of a Series called for redemption become due and payable
on the Redemption Date and at the redemption price, plus interest, if any, accrued to the Redemption Date. Upon surrender to the Trustee or Paying Agent, such Securities of a Series shall be paid at the redemption price, plus accrued interest, if
any, to the Redemption Date; PROVIDED, that if the Redemption Date is after a regular interest payment record date and on or prior to the next Interest Payment Date, the accrued interest shall be payable to the Holder of the redeemed Securities
registered on the relevant record date, as specified by the Company in the notice to the Trustee pursuant to Section 3.1. 
  

	3.5.	DEPOSIT OF REDEMPTION PRICE. 

 On
or prior to the Redemption Date (but no later than 11:00 A.M. Eastern Time on such date), the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed
on that date other than Securities or portions thereof called for redemption on that date which have been delivered by the Company to the Trustee for cancellation. 
 On and after any Redemption Date, if money sufficient to pay the redemption price of, and accrued interest on, Securities called for redemption shall have been made available in accordance with the
preceding paragraph and the Company and the Paying Agent are not prohibited from paying such moneys to Holders, the Securities called for redemption will cease to accrue interest and the only right of the Holders of such Securities will be to
receive payment of the redemption price of and, subject to the proviso in Section 3.4, accrued and unpaid interest on such Securities to the Redemption Date. If any Security called for redemption shall not be so paid, interest will be paid,
from the Redemption Date until such redemption payment is made, on the unpaid principal of the Security and any interest or premium, if any, not paid on such unpaid principal, in each case, at the rate and in the manner provided in the Securities.

	3.6.	SECURITIES REDEEMED IN PART. 

Upon surrender of a Security of a Series that is redeemed in part, the Company shall execute, and the Trustee shall authenticate, for a
Holder a new Security of the same Series equal in principal amount to the unredeemed portion of the Security surrendered. 

ARTICLE 4 

COVENANTS 
  

	4.1.	PAYMENT OF SECURITIES. 

 The
Company shall pay the principal of, and interest and premium, if any, on, each Series of Securities on the dates and in the manner provided in such Securities and this Indenture. 

An installment of principal or interest shall be considered paid on the date it is due if the Trustee or Paying Agent holds on that date
money designated for and sufficient to pay such installment and is not prohibited from paying such money to the Holders pursuant to the terms of this Indenture or otherwise. 
 The Company shall pay interest on overdue principal, and overdue interest, to the extent lawful, at the rate specified in the Series of Securities. 

 

	4.2.	SEC REPORTS. 

 The Company will
deliver to the Trustee within [    ] days after the filing of the same with the SEC, copies of the quarterly and annual reports and of the information, documents and other reports, if any, which the Company is required to file
with the SEC pursuant to Section 13 or 15(d) of the Exchange Act; PROVIDED, HOWEVER, that each such report or document will be deemed to be so delivered to the Trustee if the Company files such report or document with the SEC through the
SEC’s EDGAR database no later than the time such report or document is required to be filed with the SEC pursuant to the Exchange Act. Notwithstanding that the Company may not be subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act, the Company will file with the SEC, to the extent permitted, and provide the Trustee with, such quarterly and annual reports and such information, documents and other reports specified in Sections 13 and 15(d) of the Exchange
Act. The Company will also comply with the other provisions of TIA Section 314(a). 
  

	4.3.	COMPLIANCE CERTIFICATE. 

 (a) The
Company shall deliver to the Trustee, within [    ] days after the end of each fiscal year of the Company, an Officers’ Certificate which complies with TIA Section 314(a)(4) stating that a review of the activities of
the Company and its Subsidiaries during such fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and
further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and that there is no default in
the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action
the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of, or interest or premium, if any,
on, the Securities is prohibited, or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 
 (b) (i) If any Default or Event of Default has occurred and is continuing or (ii) if any Holder seeks to exercise any remedy hereunder with respect to a claimed Default under this Indenture or
the Securities, within five Business Days after the Company becoming aware of such occurrence the Company shall deliver to the Trustee an Officers’ Certificate specifying such event, notice or other action and what action the Company is taking
or proposes to take with respect thereto. 

	4.4.	CORPORATE EXISTENCE. 

 Subject to
Article 5, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, in accordance with the organizational documents (as the same may be amended from time to time) of the
Company and the rights (charter and statutory), licenses and franchises of the Company; PROVIDED, HOWEVER, that the Company shall not be required to preserve any such right, license or franchise, or its corporate existence, if the Board of Directors
shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is not adverse in any material respect to the Holders. 

ARTICLE 5 

SUCCESSOR CORPORATION 
  

	5.1.	LIMITATION ON CONSOLIDATION, MERGER AND SALE OF ASSETS. 

 (a) The Company will not, in any transaction or series of transactions, merge or consolidate with or into, or sell, assign, convey, transfer, lease or otherwise dispose of all or substantially all of its
properties and assets (as an entirety or substantially as an entirety in one transaction or a series of related transactions), to any Person or Persons, unless at the time of and after giving effect thereto (i) either (A) if the
transaction or series of transactions is a merger or consolidation, the Company shall be the surviving Person of such merger or consolidation, or (B) the Person formed by such consolidation or into which the Company is merged or to which the
properties and assets of the Company are transferred (any such surviving Person or transferee Person being the “Surviving Entity”) shall be a corporation organized and existing under the laws of the United States of America, any state
thereof or the District of Columbia, or a corporation or comparable legal entity organized under the laws of a foreign jurisdiction and shall expressly assume by a supplemental indenture executed and delivered to the Trustee, in form reasonably
satisfactory to the Trustee, all of the obligations of the Company (including, without limitation, the obligation to pay the principal of, and premium and interest, if any, on, the Securities and the performance of the other covenants) under the
Securities of each Series and this Indenture, and in each case, this Indenture shall remain in full force and effect; and (ii) immediately before and immediately after giving effect to such transaction or series of transactions on a pro forma
basis (including, without limitation, any Indebtedness incurred or anticipated to be incurred in connection with or in respect of such transaction or series of transactions), no Default or Event of Default shall have occurred and be continuing.

 (b) In connection with any consolidation, merger or transfer of assets contemplated by this Section 5.1, the Company
shall deliver, or cause to be delivered, to the Trustee, in form and substance reasonably satisfactory to the Trustee, an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger or transfer, and the
supplemental indenture in respect thereto, comply with this Section 5.1, and that all conditions precedent herein provided for relating to such transaction or transactions have been complied with. 

 

	5.2.	SUCCESSOR PERSON SUBSTITUTED. 

Upon any consolidation, merger or transfer of all or substantially all of the assets of the Company in accordance with Section 5.1
above, the successor corporation formed by such consolidation, or into which the Company is merged or to which such transfer is made, shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor corporation had been named as the Company herein, and thereafter (except with respect to any such transfer which is a lease) the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and the Securities. 

 ARTICLE 6 
 DEFAULTS AND REMEDIES 
  

	6.1.	EVENTS OF DEFAULT. 

 “Events
of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such
Series shall not have the benefit of said Event of Default: 
 (1) there is a default in the payment of any principal of, or
premium, if any, on, the Securities when the same becomes due and payable at Maturity, upon acceleration, redemption or otherwise; 
 (2) there is a default in the payment of any interest on any Security of a Series when the same becomes due and payable, and the Default continues for a period of [    ] days;

 (3) the Company defaults in the observance or performance of any other covenant in the Securities of a Series or in this
Indenture for [    ] days after written notice from the Trustee or the Holders of not less than [    ]% in the aggregate principal amount of the Securities of such Series then outstanding, which notice must
specify the Default, demand that it be remedied and state that the notice is a “Notice of Default”; 
 (4) the Company
or any Significant Subsidiary 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 all or substantially all of its property,

 (D) makes a general assignment for the benefit of its creditors, or 

(E) generally is not paying its debts as they become due; 

(5) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company or any Significant Subsidiary in an involuntary case; 

(B) appoints a Custodian of the Company or any Significant Subsidiary, or for all or substantially all of the property of
the Company or any Significant Subsidiary; or 
 (C) orders the liquidation of the Company or any Significant
Subsidiary, and the order or decree remains unstayed and in effect for [    ] consecutive days; or 
 (6)
any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.2(19). 

The term “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. The term
“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 
 The
Trustee may withhold notice of any Default (except in the payment of the principal of, or interest or premium, if any, on, the Securities) to the Holders of the Securities of any Series in accordance with Section 7.5. When a Default is cured,
it ceases to exist. 
  

	6.2.	ACCELERATION. 

 If an Event of
Default with respect to Securities of any Series at the time outstanding (other than an Event of Default arising under Section 6.1(4) or (5)) occurs and is continuing, the Trustee by written notice to the Company, or the Holders of not
less than [    ]% in aggregate principal amount of the Securities of that Series then outstanding by written notice to the Company and the Trustee, may declare that the entire principal amount of all the Securities of that Series
then outstanding plus accrued and unpaid interest 

 
to the date of acceleration are immediately due and payable, in which case such amounts shall become immediately due and payable; PROVIDED, HOWEVER, that after such acceleration but before a
judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate principal amount of the outstanding Securities of that Series may rescind and annul such acceleration and its consequences if
(i) all existing Events of Default, other than the nonpayment of accelerated principal, interest or premium, if any, that has become due solely because of the acceleration, have been cured or waived, (ii) to the extent the payment of such
interest is lawful, interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration of acceleration, has been paid and (iii) the rescission would not conflict with any judgment or
decree. No such rescission shall affect any subsequent Default or impair any right consequent thereto. In case an Event of Default specified in Section 6.1(4) or (5) with respect to the Company occurs, such principal, premium, if any, and
interest amount with respect to all of the Securities of that Series shall be due and payable immediately without any declaration or other act on the part of the Trustee or the Holders of the Securities of that Series. 

 

	6.3.	REMEDIES. 

 If an Event of
Default with respect to Securities of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of the principal of, or interest and premium, if
any, on, the Securities of that Series, or to enforce the performance of any provision of the Securities of that Series or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities of that Series or does not produce any of them in the proceeding. A delay or omission by the Trustee or any
Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available
remedies are cumulative to the extent permitted by law. 
  

	6.4.	WAIVER OF PAST DEFAULTS AND EVENTS OF DEFAULT. 

 Subject to Sections 6.2, 6.7 and 8.2, the Holders of a majority in principal amount of the Securities of any Series then outstanding have the right to waive any existing Default or Event of Default with
respect to such Series or compliance with any provision of this Indenture (with respect to such Series) or the Securities of such Series. Upon any such waiver, such Default with respect to such Series shall cease to exist, and any Event of Default
with respect to such Series arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. This
Section 6.4 shall be in lieu of TIA Section 316(a)(1)(B), and TIA Section 316(a)(1)(B) is hereby expressly excluded from this Indenture and Section as permitted by the TIA. 

 

	6.5.	CONTROL BY MAJORITY. 

 Subject to
Sections 6.2, 6.7 and 8.2, the Holders of a majority in principal amount of the Securities of any Series then outstanding may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any
trust or power conferred on the Trustee by this Indenture with respect to such Series. The Trustee, however, may refuse to follow any direction that conflicts with law or this Indenture, or that the Trustee determines may be unduly prejudicial to
the rights of another Securityholder, or that may involve the Trustee in personal liability; PROVIDED, that the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. This Section 6.5 shall
be in lieu of TIA Section 316(a)(1)(A), and TIA Section 316(a)(1)(A) is hereby expressly excluded from this Indenture and Section as permitted by the TIA. 
  

	6.6.	LIMITATION ON SUITS. 

 Subject to
Section 6.7, a Securityholder may not institute any proceeding or pursue any remedy with respect to this Indenture or the Securities of a Series unless: 
 (1) the Holder gives to the Trustee written notice of a continuing Event of Default with respect to the Securities of that Series; 

 (2) the Holders of at least [    ]% in aggregate principal amount of the
Securities of such Series then outstanding make a written request to the Trustee to pursue the remedy; 
 (3) such Holder or
Holders offer to the Trustee indemnity reasonably satisfactory to the Trustee against any loss, liability or expense to be incurred in compliance with such request; 
 (4) the Trustee does not comply with the request within [    ] days after receipt of the request and the offer of indemnity; and 

(5) no direction inconsistent with such written request has been given to the Trustee during such [    ]-day period
by the Holders of a majority in aggregate principal amount of the Securities of such Series then outstanding. 
 A
Securityholder may not use this Indenture to prejudice the rights of another Securityholder, or to obtain a preference or priority over another Securityholder. 
  

	6.7.	RIGHTS OF HOLDERS TO RECEIVE PAYMENT. 

 Notwithstanding any other provision of this Indenture, the right of any Holder of a Security of a Series to receive payment of the principal of, and interest and premium, if any, on, the Security of such
Series on or after the respective due dates expressed in the Security of such Series, or to bring suit for the enforcement of any such payment on or after such respective dates, is absolute and unconditional, and shall not be impaired or affected
without the consent of the Holder. 
  

	6.8.	COLLECTION SUIT BY TRUSTEE. 

 If
an Event of Default in payment of principal, interest or premium, if any, specified in Section 6.1(1) or (2) with respect to Securities of any Series at the time outstanding occurs and is continuing, the Trustee may recover judgment in its
own name and as trustee of an express trust against the Company (or any other obligor on the Securities of that Series) for the whole amount of unpaid principal and premium, if any, and accrued interest remaining unpaid, together with interest on
overdue principal and premium, if any, and, to the extent that payment of such interest is lawful, interest on overdue installments of interest, in each case at the rate then borne by the Securities of that Series, and such further amounts as shall
be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, as set forth in Section 7.7. 

 

	6.9.	TRUSTEE MAY FILE PROOFS OF CLAIM. 

The Trustee may file such proofs of claim and other papers or documents, and take other actions (including sitting on a committee of
creditors), as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Securityholders
allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), any of their respective creditors or any of their respective property, and the Trustee shall be entitled and empowered to collect and receive any
monies or other property payable or deliverable on any such claims, and to distribute the same after deduction of its charges and expenses to the extent that any such charges and expenses are not paid out of the estate in any such proceedings, and
any custodian in any such judicial proceeding is hereby authorized by each Securityholder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Securityholders, to pay to
the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.7. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to, or accept or adopt on behalf of any
Securityholder, any plan of reorganization, arrangement, adjustment or composition affecting the Securities of a Series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any
such proceedings. 

	6.10.	PRIORITIES. 

 If the Trustee
collects any money pursuant to this Article 6, it shall pay out the money in the following order: 
 FIRST: to the Trustee for
amounts due under Section 7.7; 
 SECOND: to Securityholders for amounts then due and unpaid for the principal of, and
interest and premium, if any, on, the Securities in respect of which, or for the benefit of which, such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities; for
principal and any premium and interest, respectively; and 
 THIRD: to the Company. 

The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section 6.10. At least
[    ] days before such record date, the Trustee shall mail to each Securityholder a notice that states the record date, the payment date and amount to be paid. 

 

	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, 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 6.7 or a suit by Holders of more than [    ]% in principal amount of the Securities
of a Series then outstanding. 
 ARTICLE 7 
 TRUSTEE 
  

	7.1.	DUTIES OF TRUSTEE. 

 (a) If an
Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the
same circumstances in the conduct of his own affairs. 
 (b) Except during the continuance of an Event of Default: 

(1) The Trustee need perform only those duties that are specifically set forth in this Indenture, and no covenants or obligations shall
be implied in this Indenture against the Trustee. 
 (2) In the absence of bad faith on its part, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture, but, in the case of any such certificates or
opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture. 

(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 paragraph (b) of this Section 7.1.

 (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. 

 (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 Sections 6.2 and 6.5. 
 (d) No provision of this Indenture
shall require the Trustee to expend or risk its own funds, or otherwise incur any financial liability, in the performance of any of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity satisfactory to it against such risk or liability is not reasonably assured to it. 
 (e) Whether or not therein
expressly so provided, paragraphs (a), (b), (c) and (d) of this Section 7.1 shall govern every provision of this Indenture that in any way relates to the Trustee. 

(f) The Trustee and Paying Agent shall not be liable for interest on any money received by either of them, except as the Trustee and
Paying Agent may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by the law. 
 (g) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, immunities and standard of care set forth in paragraphs (a), (b), (c), (d) and (f) of this
Section 7.1 and in Section 7.2 with respect to the Trustee. 
  

	7.2.	RIGHTS OF TRUSTEE. 

 (a) Subject
to Section 7.1: 
 (1) The Trustee may rely on, and shall be protected in acting or refraining from acting upon, any
document reasonably 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. 

(2) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, or both,
which shall conform to the provisions of Section 10.5. The Trustee shall be protected and shall not be liable for any action it takes or omits to take in good faith in reliance on such certificate or opinion. 

(3) The Trustee may act through agents and attorneys, and shall not be responsible for the misconduct or negligence of any agent
appointed by it with due care. 
 (4) The Trustee shall not be liable for any action it takes or omits to take in good faith
which it reasonably believes to be authorized or within its rights or powers. 
 (5) The Trustee may consult with counsel
reasonably acceptable to the Trustee, which may be counsel to the Company, and the advice or opinion of such counsel as to matters of law shall be full and complete authorization and protection from liability in respect of any action taken, omitted
or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
 (6) The Trustee shall
be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the
Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby. 

(7) The Trustee shall not be deemed to have knowledge of any fact or matter (including, without limitation, a Default or Event of
Default) unless such fact or matter is known to a Responsible Officer of the Trustee. 
 (8) Unless otherwise expressly provided
herein or in the Securities of a Series or the related Board Resolution, supplemental indenture or Officers’ Certificate, the Trustee shall not have any responsibility with respect to reports, notices, certificates or other documents filed with
it hereunder, except to make them available for inspection, at reasonable times, by Securityholders, it being understood that 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 (except as set forth in Section 4.4). 
  

	7.3.	INDIVIDUAL RIGHTS OF TRUSTEE. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities, and may make loans to, accept deposits
from, perform services for or otherwise deal with the Company, or any Affiliate thereof, with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee, however, shall be subject to Sections 7.10
and 7.11. 
  

	7.4.	TRUSTEE’S DISCLAIMER. 

 The
Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities (except that the Trustee represents that it is duly authorized to execute and deliver this Indenture and authenticate the Securities and perform its
obligations hereunder), and the Trustee shall not be accountable for the Company’s use of the proceeds from the sale of Securities or any money paid to the Company pursuant to the terms of this Indenture, and the Trustee shall not be
responsible for any statement in the Securities other than its certificates of authentication. 
  

	7.5.	NOTICE OF DEFAULT. 

 If a Default
or an Event of Default occurs and is continuing with respect to the Securities of any Series, and if it is known to the Trustee, the Trustee shall mail to each Securityholder of the Securities of that Series notice of the Default or the Event of
Default, as the case may be, within [    ] days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default (except if such Default or Event of Default has been
validly cured or waived before the giving of such notice). Except in the case of a Default or an Event of Default in payment of the principal of, or interest or premium, if any, on, any Security of any Series, the Trustee may withhold the notice if
and so long as the Board of Directors of the Trustee, the executive committee or any trust committee of such board and/or its Responsible Officers in good faith determine(s) that withholding the notice is in the interests of the Securityholders of
that Series. 
  

	7.6.	REPORTS BY TRUSTEE TO HOLDERS. 

If and to the extent required by the TIA, within 60 days after April 1 of each year, commencing the April 1 following the date
of this Indenture, the Trustee shall mail to each Securityholder a brief report dated as of such April 1 that complies with TIA Section 313(a). The Trustee also shall comply with TIA Sections 313(b) and 313(c). 

A copy of each report at the time of its mailing to Securityholders shall be filed with the SEC and any stock exchange on which the
Securities of that Series are listed. The Company shall promptly notify the Trustee when the Securities of any Series are listed on any stock exchange or any delisting thereof, and the Trustee shall comply with TIA Section 313(d). 

 

	7.7.	COMPENSATION AND INDEMNITY. 

 The
Company shall pay to the Trustee from time to time reasonable compensation for its services. The Trustee’s compensation shall not be limited by any provision of law on compensation of a trustee of an express trust. The Company shall reimburse
the Trustee within [    ] days after receipt of request for all reasonable out-of-pocket disbursements and expenses incurred or made by it in connection with its duties under this Indenture, including the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel. 
 The Company shall indemnify the Trustee for, and hold it
harmless against, any and all loss or liability incurred by it in connection with the acceptance or performance of its duties under this Indenture including the reasonable costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify the Company promptly of any claim asserted against the Trustee for which it may seek indemnity. 

 The failure by the Trustee to so notify the Company shall not however relieve the Company of
its obligations. Notwithstanding the foregoing, the Company need not reimburse the Trustee for any expense or indemnify it against any loss or liability incurred by the Trustee through its negligence or bad faith. To secure the payment obligations
of the Company in this Section 7.7, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee except such money or property held in trust to pay the principal of, interest and
premium, if any, on particular Securities of that Series. 
 When the Trustee incurs expenses or renders services after an Event
of Default specified in Section 6.1(4) or (5) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

For purposes of this Section 7.7, the term “Trustee” shall include any trustee appointed pursuant to this Article 7.

  

	7.8.	REPLACEMENT OF TRUSTEE. 

 The
Trustee may resign with respect to the Securities of one or more Series by so notifying the Company in writing at least [    ] days in advance of such resignation. 

The Holders of a majority in principal amount of the outstanding Securities of any Series may remove the Trustee with respect to that
Series by notifying the removed Trustee in writing and may appoint a successor Trustee with respect to that Series with the consent of the Company, which consent shall not be unreasonably withheld. The Company may remove the Trustee with respect to
that Series at its election if: 
 (1) the Trustee fails to comply with, or ceases to be eligible under, Section 7.10;

 (2) the Trustee is adjudged a bankrupt or an insolvent, or an order for relief is entered with respect to the Trustee, under
any Bankruptcy Law; 
 (3) a Custodian or other public officer takes charge of the Trustee or its property; or 

(4) the Trustee otherwise becomes incapable of acting. 
 (5) If the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee, with respect to any Series of Securities for any reason, the Company shall promptly appoint, by Board Resolution,
a successor Trustee. 
 If a successor Trustee with respect to the Securities of one or more Series does not take office within
[    ] days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least [    ]% in principal amount of the outstanding Securities of the applicable Series may
petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee with respect to the
Securities of one or more Series fails to comply with Section 7.10, any Securityholder of the applicable Series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company.
Immediately following such delivery, (i) the retiring Trustee with respect to one or more Series shall, subject to its rights under Section 7.7, transfer all property held by it as Trustee with respect to such Series to the successor
Trustee, (ii) the resignation or removal of the retiring Trustee shall become effective and (iii) the successor Trustee with respect to such Series shall have all the rights, powers and duties of the Trustee under this Indenture. A
successor Trustee with respect to the Securities of one or more Series shall mail notice of its succession to each Securityholder of such Series. 

	7.9.	SUCCESSOR TRUSTEE BY CONSOLIDATION, MERGER OR CONVERSION. 

 If the Trustee, or any Agent, consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust assets to, another corporation, subject to Section 7.10, the
successor corporation without any further act shall be the successor Trustee or Agent, as the case may be. 
  

	7.10.	ELIGIBILITY; DISQUALIFICATION. 

This Indenture shall always have a Trustee who satisfies the requirements of TIA Sections 310(a)(1), (2) and (5) in every
respect. The Trustee (or in the case of a Trustee that is a Person included in a bank holding company system, the related bank holding company) shall have a combined capital and surplus of at least $100,000,000 as set forth in its most recent
published annual report of condition. The Trustee shall comply with TIA Section 310(b), including the provision in Section 310(b)(1). In addition, if the Trustee is a Person included in a bank holding company system, the Trustee,
independently of such bank holding company, shall meet the capital requirements of TIA Section 310(a)(2). If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 7.10, it shall resign
immediately in the manner and with the effect specified in this Article 7. 
  

	7.11.	PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY. 

 The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA
Section 311(a) to the extent indicated therein. 
  

	7.12.	PAYING AGENTS. 

 The Company
shall cause each Paying Agent other than the Trustee to execute and deliver to it and the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section 7.12: 

(1) that it will hold all sums held by it as agent for the payment of the principal of, or interest or premium, if any, on, the
Securities (whether such sums have been paid to it by the Company or by any obligor on the Securities) in trust for the benefit of Holders of the Securities or the Trustee; 
 (2) that it will at any time during the continuance of any Event of Default, upon written request from the Trustee, deliver to the Trustee all sums so held in trust by it together with a full accounting
thereof; and 
 (3) that it will give the Trustee written notice within three Business Days after any failure of the Company (or
by any obligor on the Securities) in the payment of any installment of the principal of, or interest or premium, if any, on, the Securities when the same shall be due and payable. 

ARTICLE 8 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 
  

	8.1.	WITHOUT CONSENT OF HOLDERS. 

 The
Company, when authorized by a Board Resolution, and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without notice to or consent of any Securityholder: 

(1) to comply with Section 5.1; 
 (2) to provide for certificated Securities in addition to uncertificated Securities; 
 (3) to comply with any requirements of the SEC under the TIA; 
 (4) to cure any
ambiguity, defect or inconsistency, or to make any other change herein or in the Securities that does not materially and adversely affect the rights of any Securityholder; 
 (5) to provide for the issuance of, and establish the form and terms and conditions of, Securities of any Series as permitted by this Indenture; or 

 (6) 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.

 The Trustee is hereby authorized to join with the Company in the execution of any supplemental indenture authorized or
permitted by the terms of this Indenture, and to make any further appropriate agreements and stipulations which may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture which adversely affects
its own rights, duties or immunities under this Indenture. 
  

	8.2.	WITH CONSENT OF HOLDERS. 

 (a)
The Company, when authorized by a Board Resolution, and the Trustee may amend or supplement this Indenture or the Securities of one or more Series with the written consent of the Holders of not less than a majority in aggregate principal amount of
the outstanding Securities of such Series affected by such amendment or supplement without notice to any Securityholder. The Holders of not less than a majority in aggregate principal amount of the outstanding Securities of each such Series affected
by such amendment or supplement may waive compliance by the Company in a particular instance with any provision of this Indenture or the Securities of such Series without notice to any Securityholder. Subject to Section 8.4, without the consent
of each Securityholder affected, however, an amendment, supplement or waiver may not: 
 (1) reduce the amount of Securities
whose Holders must consent to an amendment, supplement or waiver to this Indenture or the Securities; 
 (2) reduce the rate of,
or change the time for payment of, interest on any Security; 
 (3) reduce the principal, or change the Stated Maturity, of any
Security, or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 

(4) make any Security payable in money other than that stated in the Security; 

(5) change the amount or time of any payment required by the Securities, or reduce the premium payable upon any redemption of the
Securities, or change the time before which no such redemption may be made; 
 (6) waive a Default or Event of Default in the
payment of the principal of, or interest or premium, if any, on, any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series
and a waiver of the payment default that resulted from such acceleration); 
 (7) waive a redemption payment with respect to any
Security, or change any of the provisions with respect to the redemption of any Securities; 
 (8) make any changes in
Section 6.6 or this Section 8.2, except to increase any percentage of Securities the Holders of which must consent to any matter; or 
 (9) take any other action otherwise prohibited by this Indenture to be taken without the consent of each Holder affected thereby. 
 (b) Upon the request of the Company, accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and upon the receipt by the Trustee of evidence reasonably satisfactory
to the Trustee of the consent of the Securityholders as aforesaid and of the documents described in Section 8.6, 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, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 

 (c) It shall not be necessary for the consent of the Holders under this section to approve
the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment or supplement under this Section becomes effective, the Company shall mail to Securityholders a notice briefly describing the amendment or supplement. Any failure of the Company to mail
any such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any supplemental indenture. 
  

	8.3.	COMPLIANCE WITH TRUST INDENTURE ACT. 

 Every amendment to, or supplement of, this Indenture or the Securities shall comply with the TIA as then in effect. 
  

	8.4.	REVOCATION AND EFFECT OF CONSENTS. 

 Until an amendment, supplement, waiver or other action becomes effective, a consent to it by a Holder of a Security is a continuing consent conclusive and binding upon such Holder and every subsequent
Holder of the same Security or portion thereof, and of any Security issued upon the transfer thereof or in exchange therefor or in place thereof, even if notation of the consent is not made on any such Security. Any such Holder or subsequent Holder,
however, may revoke the consent as to his Security or portion of a Security, if the Trustee receives the notice of revocation before the date the amendment, supplement, waiver or other action becomes effective. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any
amendment, supplement or waiver, which record date shall be at least [    ] days prior to the first solicitation of such consent. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were
Holders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to such amendment, supplement or waiver, or to revoke any consent previously given, whether or not such Persons continue to be
Holders after such record date. 
 After an amendment, supplement, waiver or other action becomes effective, it shall bind every
Securityholder, unless it makes a change described in any of clauses (1) through (9) of Section 8.2. In that case, the amendment, supplement, waiver or other action shall bind each Holder of a Security who has consented to it and
every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security; PROVIDED, that any such waiver shall not impair or affect the right of any Holder to receive payment of the
principal of, and interest and premium, if any, on, a Security, on or after the respective due dates expressed in such Security, or to bring suit for the enforcement of any such payment on or after such respective dates without the consent of such
Holder. 
  

	8.5.	NOTATION ON OR EXCHANGE OF SECURITIES. 

 If an amendment, supplement or waiver changes the terms of a Security of any Series, the Trustee may request the Holder of such Security to deliver it to the Trustee. In such case, the Trustee shall place
an appropriate notation on such Security about the changed terms and return it to the Holder. Alternatively, the Company, in exchange for such Security, may issue, and the Trustee shall authenticate, a new security that reflects the changed terms.
Failure to make the appropriate notation or issue a new Security shall not affect the validity and effect of such amendment, supplement or waiver. 
  

	8.6.	TRUSTEE TO SIGN AMENDMENTS, ETC. 

The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article 8 if the amendment, supplement or waiver
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such amendment, supplement or waiver the Trustee shall be entitled to receive
and, subject to Section 7.1, shall be fully protected in relying upon an Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement or waiver is authorized or permitted by this Indenture. The Company may not
sign an amendment or supplement until the Board of Directors of the Company approves it. 

 ARTICLE 9 
 DISCHARGE OF INDENTURE; DEFEASANCE 
  

	9.1.	DISCHARGE OF INDENTURE. 

 The
Company may terminate its obligations under the Securities of any Series and this Indenture with respect to such Series, except the obligations referred to in the last paragraph of this Section 9.1, if there shall have been canceled by the
Trustee, or delivered to the Trustee for cancellation, all Securities of such Series theretofore authenticated and delivered (other than any Securities of such Series that are asserted to have been destroyed, lost or stolen and that shall have been
replaced as provided in Section 2.8) and the Company has paid all sums payable by it hereunder or deposited all required sums with the Trustee. 
 After such delivery the Trustee upon request shall acknowledge in a writing prepared by or on behalf of the Company the discharge of the Company’s obligations under the Securities of such Series and
this Indenture, except for those surviving obligations specified below. 
 Notwithstanding the satisfaction and discharge of
this Indenture, the obligations of the Company in Sections 7.7, 9.5 and 9.6 shall survive. 
  

	9.2.	LEGAL DEFEASANCE. 

 The Company
may at its option, by Board Resolution, be discharged from its obligations with respect to the Securities of any Series on the date upon which the conditions set forth in Section 9.4 below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, such Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Securities of such Series and to have satisfied all its other obligations under
such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall, subject to Section 9.6, execute proper instruments acknowledging the same, as are delivered to it by the
Company), except for the following, which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of outstanding Securities of such Series to receive solely from the trust funds described in Section 9.4
and as more fully set forth in such section, payments in respect of the principal of, and interest and premium, if any, on, the Securities of such Series when such payments are due, (B) the Company’s obligations with respect to the
Securities of such Series under Sections 2.4, 2.5, 2.6, 2.7, 2.8 and 2.9, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder (including claims of, or payments to, the Trustee under or pursuant to Section 7.7)
and (D) this Article 9. Subject to compliance with this Article 9, the Company may exercise its option under this Section 9.2 with respect to the Securities of any Series notwithstanding the prior exercise of its option under
Section 9.3 below with respect to the Securities of such Series. 
  

	9.3.	COVENANT DEFEASANCE. 

 At the
option of the Company, pursuant to a Board Resolution, the Company shall be released from its obligations with respect to the outstanding Securities of any Series under Sections 4.2 through 4.5, inclusive, and Section 5.1, with respect to the
outstanding Securities of such Series, on and after the date the conditions set forth in Section 9.4 are satisfied (hereinafter, “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that the Company may omit to
comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified section or portion thereof, whether directly or indirectly by reason of any reference elsewhere herein to any such specified
Section or portion thereof or by reason of any reference in any such specified section or portion thereof to any other provision herein or in any other document, but the remainder of this Indenture and the Securities of any Series shall be
unaffected thereby. 

	9.4.	CONDITIONS TO LEGAL DEFEASANCE OR COVENANT DEFEASANCE. 

 The following shall be the conditions to application of Section 9.2 or Section 9.3 to the outstanding Securities of a Series: 

(1) the Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the
requirements of Section 7.10 who shall agree to comply with the provisions of this Article 9 applicable to it) as funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to,
the benefit of the Holders of the Securities, (A) money in an amount, or (B) U.S. Government Obligations or Foreign Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with
their terms will provide, not later than the due date of any payment, money in an amount, or (C) a combination thereof, sufficient, 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, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, the principal of, and accrued interest and premium, if any, on, the outstanding
Securities of such Series at the Stated Maturity of such principal, interest or premium, if any, or on dates for payment and redemption of such principal, interest and premium, if any, selected in accordance with the terms of this Indenture and of
the Securities of such Series; 
 (2) no Event of Default or Default with respect to the Securities of such Series shall have
occurred and be continuing on the date of such deposit, or shall have occurred and be continuing at any time during the period ending on the 91st day after the date of such deposit or, if longer, ending on the day following the expiration of the
longest preference period under any Bankruptcy Law applicable to the Company in respect of such deposit as specified in the Opinion of Counsel identified in paragraph (8) below (it being understood that this condition shall not be deemed
satisfied until the expiration of such period); 
 (3) such Legal Defeasance or Covenant Defeasance shall not cause the Trustee
to have a conflicting interest for purposes of the TIA with respect to any securities of the Company; 
 (4) such Legal
Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute default under, any other agreement or instrument to which the Company is a party or by which it is bound; 

(5) the Company shall have delivered to the Trustee an Opinion of Counsel stating that, as a result of such Legal Defeasance or Covenant
Defeasance, neither the trust nor the Trustee will be required to register as an investment company under the Investment Company Act of 1940, as amended; 
 (6) in the case of an election under Section 9.2, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling to the effect that or (ii) there has been a change in any applicable Federal income tax law with the effect that, and such opinion shall confirm that, the Holders of the outstanding Securities
of such Series or Persons in their positions will not recognize income, gain or loss for Federal income tax purposes solely as a result of such Legal Defeasance and will be subject to Federal income tax on the same amounts, in the same manner,
including as a result of prepayment, and at the same times as would have been the case if such Legal Defeasance had not occurred; 
 (7) in the case of an election under Section 9.3, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the outstanding Securities of such Series
will not recognize income, gain or loss for Federal income tax purposes as a result of such Covenant Defeasance, and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if
such Covenant Defeasance had not occurred; 
 (8) the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent provided for in this Article 9 relating to either the Legal Defeasance under Section 9.2 or the Covenant Defeasance under Section 9.3 (as the case may be) have been
complied with; 
 (9) the Company shall have delivered to the Trustee an Officers’ Certificate stating that the deposit
under clause (1) was not made by the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

 (10) the Company shall have paid, or duly provided for payment under terms mutually
satisfactory to the Company and the Trustee, all amounts then due to the Trustee pursuant to Section 7.7. 
  

	9.5.	DEPOSITED MONEY AND U.S. AND FOREIGN GOVERNMENT OBLIGATIONS TO BE HELD IN TRUST; OTHER MISCELLANEOUS PROVISIONS. 

All money, U.S. Government Obligations and Foreign Government Obligations (including the proceeds thereof) deposited with the Trustee
pursuant to Section 9.4 in respect of the outstanding Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying
Agent as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal, accrued interest and premium, if any, but such money need not be segregated from other funds except to the
extent required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the U.S. Government Obligations and Foreign Government Obligations deposited pursuant to Section 9.4 or the principal, interest and premium, if any, received in respect thereof other than any such tax, fee or other charge which
by law is for the account of the Holders of the outstanding Securities. 
 Anything in this Article 9 to the contrary
notwithstanding, but subject to payment of any of its outstanding fees and expenses, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money, U.S. Government Obligations or Foreign Government Obligations held
by the Trustee as provided in Section 9.4 which, in the opinion of a nationally-recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which
would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 
  

	9.6.	REINSTATEMENT. 

 If the Trustee
or Paying Agent is unable to apply any money, U.S. Government Obligations or Foreign Government Obligations in accordance with Section 9.1, 9.2, 9.3 or 9.4 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 Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this
Article 9 until such time as the Trustee or Paying Agent is permitted to apply all such money, U.S. Government Obligations or Foreign Government Obligations, as the case may be, in accordance with Section 9.1, 9.2, 9.3 or 9.4; PROVIDED,
HOWEVER, that if the Company has made any payment of principal of, or accrued interest or premium, if any, on, 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, U.S. Government Obligations or Foreign Government Obligations held by the Trustee or Paying Agent. 
  

	9.7.	MONEYS HELD BY PAYING AGENT. 

 In
connection with the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee, or, if sufficient moneys have been deposited
pursuant to Section 9.1, to the Company, and thereupon such Paying Agent shall be released from all further liability with respect to such moneys. 
  

	9.8.	MONEYS HELD BY TRUSTEE. 

 Any
moneys deposited with the Trustee or any Paying Agent or then held by the Company in trust for the payment of the principal of, or interest or premium, if any, on, any Security that are not applied but remain unclaimed by the Holder of such Security
for [    ] after the date upon which the principal of, or interest or premium, if any, on, such Security shall have respectively become due and payable shall be repaid to the Company upon Company Request, or if such moneys are
then held by the Company in trust, such moneys shall be released from such trust; and the Holder of such Security entitled to receive such 

 
payment shall thereafter, as an unsecured general creditor, look only to the Company for the payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money shall thereupon cease; PROVIDED, HOWEVER, that the Trustee or any such Paying Agent, before being required to make any such repayment, may, at the expense of the Company, either mail to each Securityholder affected, at the address shown in the
register of the Securities maintained by the Registrar, or cause to be published once a week for two successive weeks, in a newspaper published in the English language, customarily published each Business Day and of general circulation in the City
of New York, New York, a notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than [    ] days from the date of such mailing or publication, any unclaimed balance of such
moneys then remaining will be repaid to the Company. After payment to the Company or the release of any money held in trust by the Company, Securityholders entitled to the money must look only to the Company for payment as general creditors, unless
applicable abandoned property law designates another Person. 
 ARTICLE 10 

MISCELLANEOUS 
  

	10.1.	TRUST INDENTURE ACT CONTROLS. 

If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this
Indenture by the TIA, the required provision shall control. If any provision of this Indenture modifies or excludes any provision of the TIA 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. 
  

	10.2.	NOTICES. 

 Any notice or
communication shall be given in writing and delivered in Person, sent by facsimile (and receipt confirmed by telephone or electronic transmission report), delivered by commercial courier service or mailed by first-class mail, postage prepaid,
addressed as follows: 
 If to the Company: 
 BioDelivery Sciences International, Inc. 
 801 Corporate Center Drive, Suite 210

 Raleigh, North Carolina 27607 
 Fax: (919) 582-9051 
 Attention: Chief Executive Officer 

Copy to: 

Ellenoff Grossman & Schole LLP 
 150 East 42nd
Street 
 New York, New York 10017 
 Fax: (212) 370-7889 
 Attention: Barry Grossman, Esq. 

If to the Trustee: 
 [ 

                    ] 

 The Company or the Trustee by written notice to the other may designate additional or
different addresses for subsequent notices or communications. Any notice or communication to the Company or the Trustee shall be deemed to have been given or made as of the date so delivered if personally delivered; when receipt is confirmed by
telephone or electronic transmission report, if sent by facsimile; and three Business Days after mailing if sent by registered or certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until
actually received by the addressee). 
 Any notice or communication mailed to a Securityholder shall be mailed to such
Securityholder by first-class mail, postage prepaid, at such Securityholder’s address shown on the register kept by the Registrar. 
 Failure to mail, or any defect in, a notice or communication to a Securityholder shall not affect its sufficiency with respect to other Securityholders. If a notice or communication to a Securityholder is
mailed in the manner provided above, it shall be deemed duly given, three Business Days after such mailing, whether or not the addressee receives it. 
 In case by reason of the suspension of regular mail service, or by reason of any other cause, it shall be impossible to mail any notice as required by this Indenture, then such method of notification as
shall be made with the approval of the Trustee shall constitute a sufficient mailing of such notice. 
 In the case of Global
Securities, notices or communications to be given to Securityholders shall be given to the Depository, in accordance with its applicable policies as in effect from time to time. 

In addition to the manner provided for in the foregoing provisions, notices or communications to Securityholders shall be given by the
Company by release made to Reuters Economic Services and Bloomberg Business News. 
  

	10.3.	COMMUNICATIONS BY HOLDERS WITH OTHER HOLDERS. 

 Securityholders of any Series may communicate pursuant to TIA Section 312(b) with other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the
Securities of that Series or any other Series. The Company, the Trustee, the Registrar and any other Person shall have the protection of TIA Section 312(c). 
  

	10.4.	CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT. 

 Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee: 

(1) an Officers’ Certificate (which shall include the statements set forth in Section 10.5 below) stating that, in the opinion
of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (2) an Opinion of Counsel (which shall include the statements set forth in Section 10.5 below) stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

  

	10.5.	STATEMENT REQUIRED IN CERTIFICATE AND OPINION. 

 Each certificate and opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than pursuant to Section 4.4) shall include: 

(1) a statement that the Person making such certificate or opinion has read such covenant or condition; 

(2) 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; 

 (3) a statement that, in the opinion of such Person, it or he has made such examination or
investigation as is necessary to enable it or him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether or not, in the opinion of such Person, such covenant or condition has been complied with. 
  

	10.6.	RULES BY TRUSTEE AND AGENTS. 

The Trustee may make reasonable rules for action by or at meetings of Securityholders. The Registrar and Paying Agent may make reasonable
rules for their functions. 
  

	10.7.	BUSINESS DAYS; LEGAL HOLIDAYS; PLACE OF PAYMENT. 

 A “Business Day” is a day that is not a Legal Holiday. A “Legal Holiday” is a Saturday, a Sunday, a federally-recognized holiday or a day on which banking institutions are not
authorized or required by law, regulation or executive order to be open in the State of New York. 
 If a payment date is a
Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. “Place of Payment” means the place or places where the
principal of, and interest and premium, if any, on, the Securities of a Series are payable as specified as contemplated by Section 2.2. If the regular record date is a Legal Holiday, the record date shall not be affected. 

 

	10.8.	GOVERNING LAW. 

 THIS
INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW.

  

	10.9.	NO ADVERSE INTERPRETATION OF OTHER AGREEMENTS. 

 This Indenture may not be used to interpret another indenture, loan, security or debt agreement of the Company or any Subsidiary thereof. No such indenture, loan, security or debt agreement may be used to
interpret this Indenture. 
  

	10.10.	NO RECOURSE AGAINST OTHERS. 

 A
director, officer, employee, stockholder or incorporator, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture. Each Securityholder by accepting a Security waives and releases
all such liability. Such waiver and release are part of the consideration for the issuance of the Securities. 
  

	10.11.	SUCCESSORS. 

 All covenants and
agreements of the Company in this Indenture and the Securities shall bind the Company’s successors and assigns, whether so expressed or not. All agreements of the Trustee, any additional trustee and any Paying Agents in this Indenture shall
bind their respective successors and assigns. 
  

	10.12.	MULTIPLE COUNTERPARTS. 

 The
parties may sign multiple counterparts of this Indenture. Each signed counterpart shall be deemed an original, but all of them together represent one and the same agreement. 

 

	10.13.	TABLE OF CONTENTS, HEADINGS, ETC. 

The table of contents, cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

	10.14.	SEVERABILITY. 

 Each provision of
this Indenture shall be considered separable, and if for any reason any provision which is not essential to the effectuation of the basic purpose of this Indenture or the Securities shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and a Holder shall have no claim therefor against any party hereto. 

 

	10.15.	SECURITIES IN A FOREIGN CURRENCY OR IN EUROS. 

 Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.2 with respect to a particular Series of Securities,
whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such
time, there are outstanding Securities of any Series which are denominated in a coin or currency other than Dollars (including Euros), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of
taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such time. For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in
New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York; PROVIDED, HOWEVER, in the case of Euros, Market Exchange Rate shall mean the rate of exchange determined by the Commission of the European Union
(or any successor thereto) as published in the Official Journal of the European Union (such publication or any successor publication, the “Journal”). If such Market Exchange Rate is not available for any reason with respect to such
currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York or, in the case of Euros, the rate of exchange as published in the Journal, as of the most recent
available date, or quotations or, in the case of Euros, rates of exchange from one or more major banks in New York City or in the country of issue of the currency in question or, in the case of Euros, in Luxembourg or such other quotations or, in
the case of Euros, rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate. The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series
denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. 
 All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in the Trustee’s sole discretion,
and shall, in the absence of manifest error, be conclusive to the extent permitted by law for all purposes and irrevocably binding upon the Company and all Holders. 
  

	10.16.	JUDGMENT CURRENCY. 

 The Company
agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or interest or premium, if
any, or other amount on, the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which, in accordance
with normal banking procedures, the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a Business Day, in which instance,
the rate of exchange used shall be the rate at which, in accordance with normal banking procedures, the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the Business Day preceding the day on which
final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender or any recovery pursuant to any judgment (whether or not
entered in accordance with subsection (a)) in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to
be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the
full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture. 

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

	
	BIODELIVERY SCIENCES INTERNATIONAL, INC.
	
	By:
	Name:
	Title:
	
	[Name of Trustee]
	
	By:
	Name:
	Title:
	
	By:
	Name:
	Title:

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