Document:

Exhibit
10.1

 

SB
FINANCIAL GROUP

2017
STOCK INCENTIVE PLAN

 

ARTICLE
I

Definitions

 

Section
1.1 Definitions. As used herein, the following terms shall have the meaning set forth below, unless the context clearly requires
otherwise:

 

		(a)	“Applicable
                                         Event” shall mean:

 

		(i)	Any
“person,” including a “group” (as such terms are used in Subsections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and the rules promulgated thereunder, but excluding the Company,
any Subsidiary or any employee benefit plan of the Company or any Subsidiary) becomes the “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of, or acquires the power to direct, directly or indirectly, the
exercise of voting power with respect to, securities which represent 50% or more of the combined voting power of the Company’s
outstanding securities thereafter;

		 	 

		(ii)	Any
merger or consolidation of the Company, other than a merger or consolidation in which the voting securities of the Company immediately
prior to the merger or consolidation continue to represent (either by remaining outstanding or being converted into securities
of the surviving entity) 80% or more of the combined voting power of the Company or surviving entity immediately after the merger
or consolidation with another entity; or

		 	 

		(iii)	The
consummation of a sale or disposition by the Company of all or substantially all of the Company’s assets (or any transaction
having a similar effect).

 

		(b)	“Award”
                                         shall mean any Option, Restricted Stock, Restricted Stock Unit or Stock Appreciation
                                         Right granted under the Plan.

 

		(c)	“Award
                                         Agreement” shall mean an agreement between the Company and a Participant that describes
                                         the terms and conditions of each Award.

 

		(d)	“Board”
                                         shall mean the Board of Directors of the Company.

 

		(e)	“Change
                                         in Control Price” shall mean the transaction price per share of Stock (whether
                                         paid in cash or other property) paid in conjunction with any transaction resulting in
                                         an Applicable Event or, in the case of an Applicable Event occurring solely by reason
                                         of events not related to a transfer of Stock, the Fair Market Value of a share of Stock
                                         on the last trading day before the Applicable Event occurs.

 

		(f)	“Code”
                                         shall mean the Internal Revenue Code of 1986, as amended.

 

		(g)	“Committee”
                                         shall mean the Compensation Committee of the Board.

 

		(h)	“Company”
                                         shall mean SB Financial Group.

 

		(i)	“Director”
                                         shall mean an individual (i) who is a member of the Board, a member of the Board of Directors
                                         of a Subsidiary, or a member of an advisory board who is appointed by the Board and (ii)
                                         who is not an Employee.

 

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		(j)	“Disability”
                                         shall mean:

 

		(i)	With
                                         respect to Incentive Stock Options, disability as defined in Section 22(e)(3) of the
                                         Code; and

 

		(ii)	With
                                         respect to any other Award, (A) the Participant is unable to engage in any substantial
                                         gainful activity by reason of any medically determinable physical or mental impairment
                                         that can be expected to result in death or can be expected to last for a continuous period
                                         of not less than 12 months; or (B) the Participant is determined to be totally disabled
                                         by the Social Security Administration.

 

		(k)	“Effective
                                         Date” shall mean, with respect to the Plan, the date specified in Section 2.3 as
                                         the Effective Date.

 

		(l)	“Employee”
                                         shall mean any person, including an executive officer, who is employed by the Company
                                         or any of its Subsidiaries.

 

		(m)	“Fair
                                         Market Value” shall mean the value of a share of Stock on any relevant date, determined
                                         as follows:

 

		(i)	If
                                         the Stock is traded on an exchange, the reported “closing price” on the relevant
                                         date if it is a trading day or, otherwise, the reported “opening price” on
                                         the next trading day;

 

		(ii)	If
                                         Section 1.1(m)(i) does not apply:
	 	 	 

		(1)	With
                                         respect to any Incentive Stock Option, fair market value within the meaning of Section
                                         422 of the Code;
	 	 	 

		(2)	With
                                         respect to any Award that is subject to Section 409A of the Code or any Nonqualified
                                         Stock Option or Stock Appreciation Right, fair market value shall be determined by the
                                         reasonable application of a reasonable valuation method within the meaning of Treasury
                                         Regulation §1.409A-1(b)(5)(iv)(B); and
	 	 	 

		(3)	With
                                         respect to any other Award, fair market value shall be determined by application of such
                                         reasonable valuation methods as the Committee shall adopt or apply.
	 	 	 

		(n)	“Incentive
                                         Stock Option” shall mean an Option to purchase shares of Stock which is designated
                                         as an Incentive Stock Option by the Committee and is intended to meet the requirements
                                         of Section 422 of the Code.

 

		(o)	“Nonqualified
                                         Stock Option” shall mean an Option to purchase shares of Stock which is not an
                                         Incentive Stock Option.

 

		(p)	“Option”
                                         shall mean an option to purchase shares of Stock granted pursuant to the provisions of
                                         the Plan. Options granted under the Plan shall be either Nonqualified Stock Options or
                                         Incentive Stock Options.

 

		(q)	“Participant”
                                         shall mean a Director or Employee to whom an Award has been granted under the Plan.

 

		(r)	“Plan”
                                         shall mean the SB Financial Group 2017 Stock Incentive Plan, the terms of which are set
                                         forth herein and in any amendment which may be made hereto.

 

		(s)	“Restricted
                                         Stock” shall mean a share of Stock granted to a Participant pursuant to Article
                                         VIII of the Plan.

 

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		(t)	“Restricted
                                         Stock Unit” shall mean an Award granted pursuant to Article IX of this Plan under
                                         which a Participant is issued a right to receive a specified number of shares of Stock
                                         or a cash payment equal to a specified number of shares of Stock, the settlement of which
                                         is subject to specified restrictions on vesting and transferability.

 

		(u)	“Retirement”
                                         shall mean a voluntary termination by the Participant after (i) attaining the age of
                                         65 and (ii) completing five years of service to the Company or a Subsidiary.

 

		(v)	“Stock”
                                         shall mean the common shares, without par value, of the Company or, in the event that
                                         the outstanding shares of Stock are changed into or exchanged for different shares or
                                         securities of the Company or some other entity, such other shares or securities.

 

		(w)	“Stock
                                         Appreciation Right” shall mean a right to receive an amount equal to the excess
                                         of the Fair Market Value on the exercise date over the Fair Market Value on the date
                                         the Stock Appreciation Right is granted pursuant to the provisions of the Plan.

 

		(x)	“Subsidiary”
                                         shall mean:

 

		(i)	With
                                         respect to an Incentive Stock Option, a “subsidiary corporation” as defined
                                         in Section 424(f) of the Code; and

 

		(ii)	With
respect to any other Award, any person with whom the Company would be considered to have a controlling interest, as defined in
Treasury Regulation §1.409A-1(b)(5)(iii)(E)(1).

 

ARTICLE
II

The
Plan

 

Section
2.1 Name. The Plan shall be known as the “SB Financial Group 2017 Stock Incentive Plan.”

 

Section
2.2 Purpose. The purpose of the Plan is to advance the interests of the Company and its shareholders by affording to Directors
and Employees an opportunity to acquire or increase their proprietary interest in the Company by the grant to such persons of
Awards under the terms set forth herein. By encouraging such persons to become owners of the Company, the Company seeks to attract,
motivate, reward and retain those highly competent individuals upon whose judgment, initiative, leadership and efforts are key
to the success of the Company.

 

Section
2.3 Effective Date and Termination of Plan. The Plan shall become effective upon the affirmative vote of the Board on February
15, 2017 (the “Effective Date”); provided, however, that if the Plan is not approved by the shareholders of the Company
within twelve (12) months following such adoption, the Plan and all outstanding Awards, if any, shall be deemed null and void
and shall be of no force or effect. No shares of Stock may be issued pursuant to this Plan prior to approval of the Plan by the
shareholders of the Company. The Plan shall terminate upon the earliest of (a) February 15, 2027; (b) the date on which all Stock
available for issuance under the Plan has been issued pursuant to the exercise or settlement, as applicable, of Awards granted
hereunder or with respect to which payments have been made upon the exercise of Stock Appreciation Rights or other rights; or
(c) the determination of the Board that the Plan shall terminate. No Awards may be granted under the Plan after such termination
date, provided that the Awards granted and outstanding on such date shall continue to have force and effect in accordance with
the provisions of the Award Agreements evidencing such Awards.

 

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ARTICLE
III

Administration

 

Section
3.1 Administration.

 

		(a)	The
                                         Plan shall be administered by the Committee. Subject to the express provisions of the
                                         Plan, the Committee shall have sole discretion and authority to determine from time to
                                         time the individuals to whom Awards may be granted, the number of shares of Stock to
                                         be subject to each Award, the period during which each Option or Stock Appreciation Right
                                         may be exercised, the price at which each Option or Stock Appreciation Right may be exercised,
                                         and the terms and conditions of any Award.

 

		(b)	Meetings
                                         of the Committee shall be held at such times and places as shall be determined from time
                                         to time by the Committee. A majority of the members of the Committee shall constitute
                                         a quorum for the transaction of business. The vote of a majority of the members of the
                                         Committee shall decide any question brought before the meeting. In addition, the Committee
                                         may take any action otherwise proper under the Plan by the execution of a written action,
                                         taken without a meeting, and signed by all of the members of the Committee.

 

		(c)	All
                                         questions of interpretation and application with respect to the Plan or Awards granted
                                         thereunder shall be subject to the determination, which shall be final and binding, of
                                         a majority of the whole Committee.

 

		(d)	The
                                         Committee shall have the sole discretion and authority to determine whether an Option
                                         shall be an Incentive Stock Option or a Nonqualified Stock Option; provided that Incentive
                                         Stock Options may be granted only to persons who are Employees.

 

		(e)	Notwithstanding
                                         any provision contained herein, a grant of an Award to a Director must be approved by
                                         the full Board.

 

		(f)	Each
                                         person who is or shall have been a member of the Committee or of the Board shall be indemnified
                                         and held harmless by the Company against and from any loss, cost, liability or expense
                                         that may be imposed upon or reasonably incurred by him in connection with or resulting
                                         from any claim, action, suit or proceeding to which he may be a party or in which he
                                         may be involved by reason of any action taken or failure to act under the Plan and against
                                         and from any and all amounts paid by him in settlement thereof, with the Company’s
                                         approval, or paid by him in satisfaction of judgment in any such action, suit or proceeding
                                         against him; provided that he shall give the Company an opportunity, at its own expense,
                                         to handle and defend the same before he undertakes to handle and defend it on his own
                                         behalf. The foregoing right of indemnification shall not be exclusive of any other rights
                                         of indemnification to which such person may be entitled under the Company’s articles
                                         of incorporation or regulations, as a matter of law, or otherwise, or any power that
                                         the Company may have to indemnify him or hold him harmless.

 

Section
3.2 Company Assistance. The Company and its Subsidiaries shall supply full and timely information to the Committee on
all matters relating to eligible Employees, their employment, death, Retirement, Disability or other termination of employment
and such other pertinent facts as the Committee may require. The Company shall furnish the Committee with such clerical and other
assistance as is necessary in the performance of its duties.

 

Section
3.3 Repricing. Except in connection with a corporate transaction involving the Company (including, without limitation, any
Stock dividend, Stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off,
combination or exchange of shares of Stock), the terms of outstanding Awards may not be amended without shareholder approval to
reduce the exercise price of outstanding Options or Stock Appreciation Rights or to cancel outstanding Options or Stock Appreciation
Rights in exchange for cash, Options or Stock Appreciation Rights with an exercise price that is less than the exercise price
of the original Options or Stock Appreciation Rights, or other Awards or property.

 

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ARTICLE
IV

Participants

 

Section
4.1 Eligibility. Directors and Employees shall be eligible to participate in the Plan. The Committee may grant Awards to any
eligible individual subject to the provisions of Sections 3.1(e) and 5.1.

 

ARTICLE
V

Shares
of Stock Subject to Plan

 

Section
5.1 Grant of Awards and Limitations.

 

		(a)	Grant
                                         of Awards. The Committee shall designate the Employees and Directors eligible to
                                         receive Awards and the number of shares of Stock subject to such Awards.

 

		(b)	Stock
                                         Available for Awards. Subject to adjustment pursuant to the provisions of Section
                                         11.4 hereof, the aggregate number of shares of Stock with respect to which Awards may
                                         be granted during the term of the Plan shall not exceed 500,000. Shares with respect
                                         to which Awards may be granted may be either authorized and unissued shares of Stock
                                         or shares of Stock issued and thereafter acquired by the Company.

 

		(c)	Incentive
                                         Stock Options. In the case of Incentive Stock Options, the aggregate Fair Market
                                         Value of the shares of Stock (under all plans of the Company and all of its Subsidiaries),
                                         with respect to which Incentive Stock Options are exercisable for the first time by a
                                         Participant during any calendar year, may not exceed $100,000. Such Options that exceed
                                         $100,000 shall be treated as Nonqualified Stock Options. The maximum number of shares
                                         of Stock that may be granted under the Plan through the exercise of Incentive Stock Options
                                         shall be 500,000.

 

		(d)	Fiscal
                                         Year Limits. Subject to Section 12.4 of this Plan, during any fiscal year of the
                                         Company, the Committee may not make grants of all forms of Awards to a single Participant
                                         in this Plan covering more than an aggregate of 50,000 shares of Stock.

 

Section
5.2 Awards Under the Plan. Shares of Stock with respect to which an Award granted hereunder shall have been exercised or settled,
as applicable, shall not again be available for grant hereunder. If Awards granted hereunder shall expire, terminate or be canceled
for any reason without being wholly exercised or settled, as applicable, new Awards may be granted hereunder covering the number
of shares of Stock to which such Award’s expiration, termination or cancellation relates. For purposes of clarity, shares
of Stock that are withheld from or that are tendered by a Participant (either by delivery or attestation) in payment of an exercise
price or to cover withholding tax obligations shall not be available to future grants under the Plan.

 

ARTICLE
VI

Options

 

Section
6.1 Grant of Options. Subject to the terms, restrictions and conditions specified in the Plan and the associated Award Agreement,
the Committee may grant Nonqualified Stock Options and Incentive Stock Options to Employees and Nonqualified Stock Options to
Directors at any time during the term of the Plan. Each Option granted hereunder shall be evidenced by minutes of a meeting or
the written consent of all of the members of the Committee or the Board, as applicable, and by a written Award Agreement in such
form as the Committee shall approve from time to time. The Award Agreement shall set forth such terms and conditions of the Option
as may be determined by the Committee, consistent with the Plan.

 

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Section
6.2 Exercise Price. The exercise price of the Stock subject to an Option shall not be less than the Fair Market Value on the
date the Option is granted; provided, however, that the exercise price for an Incentive Stock Option granted to a Participant
who owns or who is deemed to own shares possessing more than 10% of the total combined voting power of all classes of shares of
the Company or any Subsidiary as determined under Section 422 of the Code (a “10 Percent Owner”), shall not be less
than 110% of the Fair Market Value on the date the Incentive Stock Option is granted.

 

Section
6.3 Option Grant and Exercise Periods. No Option may be granted after the tenth anniversary of the Effective Date. The period
for exercise of each Option shall be determined by the Committee, but in no instance shall such period extend beyond the tenth
anniversary of the date of grant of the Option. The period of exercise for each Incentive Stock Option granted to a 10 Percent
Owner may not be more than 5 years from the date of grant of the Option.

 

Section
6.4 Option Exercise.

 

		(a)	Subject
                                         to Section 6.4(b) and such terms and conditions as may be determined by the Committee
                                         in its sole discretion upon the grant of an Option, an Option may be exercised in whole
                                         or in part (but with respect to whole shares only) and from time to time by delivering
                                         to the Company at its principal office written notice of intent to exercise the Option
                                         with respect to a specified number of shares of Stock.

 

		(b)	Options
                                         shall be exercisable according to respective vesting schedules set forth in each Award
                                         Agreement as determined by the Committee; provided that vesting of any Option
                                         that is based in whole or in part on performance conditions and/or the level of achievement
                                         versus such performance conditions shall be subject to a performance period of not less
                                         than one year, and vesting of any Option based solely upon continued employment or the
                                         passage of time shall vest over a period of not less than three years from the date the
                                         Award is made, provided that such vesting may occur in pro rata installments over
                                         the three-year period, with the first installment vesting no sooner than the first anniversary
                                         of the date of grant of such Award.

 

		(c)	Subject
                                         to such terms and conditions as may be determined by the Committee in its sole discretion
                                         upon grant of any Option, payment for the shares of Stock to be acquired pursuant to
                                         exercise of the Option shall be made as follows:

 

		(i)	By
                                         delivering to the Company at its principal office a check payable to the order of “SB
                                         Financial Group” in the amount of the exercise price for the number of shares of
                                         Stock with respect to which the Option is then being exercised; or

 

		(ii)	By
                                         tendering to the Company shares of Stock owned by the Participant for at least six months
                                         prior to the date the Option is exercised (or such other period acceptable under the
                                         generally accepted accounting principles) having an aggregate Fair Market Value as of
                                         the date of exercise equal to the exercise price for the number of shares of Stock with
                                         respect to which the Option is then being exercised; or

 

		(iii)	By
                                         a cashless exercise (including by withholding shares of Stock deliverable upon exercise
                                         and through a broker-assisted arrangement to the extent permitted by applicable law);
                                         or

 

		(iv)	By
                                         any combination of payments delivered pursuant to paragraphs (c)(1), (c)(2), and (c)(3)
                                         above.

 

Section
6.5 Rights as a Shareholder. A Participant shall have no rights as a shareholder with respect to any share of Stock subject
to such Option prior to the exercise of the Option and the purchase of such shares of Stock.

 

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ARTICLE
VII

Stock
Appreciation Rights

 

Section
7.1 Stock Appreciation Rights. Subject to the terms and conditions of the Plan, the Committee may grant Stock Appreciation
Rights to Participants at any time during the term of the Plan, either alone or in tandem with other Awards. Such Stock Appreciation
Rights shall be evidenced by an Award Agreement in such form as the Committee shall from time to time approve. Such Award Agreements
shall comply with, and be subject to, the following terms and conditions:

 

		(a)	Exercise
                                         Price. The exercise price of a Stock Appreciation Right may not be less than 100%
                                         of the Fair Market Value on the date of grant.

 

		(b)	Period
                                         and Exercise. The Award Agreement will specify the period over which a Stock Appreciation
                                         Right may be exercised and the terms and conditions that must be met before it may be
                                         exercised; provided, however, that an Award Agreement may not permit the Stock Appreciation
                                         Right to be exercisable more than 10 years after the date of grant. A Participant may
                                         exercise a Stock Appreciation Right by giving written notice of exercise on a form acceptable
                                         to the Committee specifying the portion of the Stock Appreciation Right being exercised.

 

		(c)	Vesting.
                                         Stock Appreciation Rights shall be exercisable according to respective vesting schedules
                                         set forth in each Award Agreement as determined by the Committee; provided that
                                         vesting of any Stock Appreciation Right that is based in whole or in part on performance
                                         conditions and/or the level of achievement versus such performance conditions shall be
                                         subject to a performance period of not less than one year, and vesting of any Stock Appreciation
                                         Rights based solely upon continued employment or the passage of time shall vest over
                                         a period of not less than three years from the date the Award is made, provided that
                                         such vesting may occur in pro rata installments over the three-year period, with
                                         the first installment vesting no sooner than the first anniversary of the date of grant
                                         of such Award.

 

		(d)	Calculation
                                         of Appreciation. Upon the exercise of Stock Appreciation Right, the Participant shall
                                         be entitled to receive either (i) cash equal to the excess of the Fair Market Value on
                                         the exercise date over the Fair Market Value on the date the Stock Appreciation Right
                                         was granted, multiplied by the number shares of Stock with respect to which the Stock
                                         Appreciation Right is being exercised (the “Cash Amount”), or (ii) a number
                                         of shares of Stock equal to the Cash Amount, divided by the Fair Market Value on the
                                         exercise date of the Stock Appreciation Right.

 

		(e)	Payment
                                         of Appreciation. The total appreciation available to a Participant from an exercise
                                         of a Stock Appreciation Right shall be paid in a single lump sum payment in either cash
                                         or shares of Stock, as determined by the Committee.

 

		(f)	Rights
                                         as a Shareholder. A Participant shall have no rights as a shareholder with respect
                                         to any share of Stock subject to a Stock Appreciation Right.

 

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ARTICLE
VIII

Restricted
Stock

 

Section
8.1 Grant of Restricted Stock. Subject to the terms and conditions of the Plan, the Committee may grant Restricted Stock to
Participants at any time during the term of the Plan. Such Restricted Stock shall be subject to the terms and conditions that
the Committee specifies in the Award Agreement and to the terms and conditions of the Plan. At the Committee’s sole discretion,
all shares of Restricted Stock will be held by the Company as escrow agent or issued to the Participant in the form of certificates
bearing a legend describing the restrictions imposed on the shares.

 

Section
8.2 Earning Restricted Stock. Restricted Stock may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated
until the terms, restrictions and conditions imposed on the Restricted Stock have lapsed as described in the Award Agreement.
Restricted Stock will be (a) forfeited if all terms, restrictions and conditions described in the Award Agreement have not been
satisfied or (b) released from escrow and distributed (or any restrictions described in the certificates removed) as soon as practicable
after all terms, restrictions and conditions described in the Award Agreement have been satisfied. Vesting of any Restricted Stock
that is based in whole or in part on performance conditions and/or the level of achievement versus such performance conditions
shall be subject to a performance period of not less than one year, and vesting of any Restricted Stock based solely upon continued
employment or the passage of time shall vest over a period of not less than three years from the date the Award is made, provided
that such vesting may occur in pro rata installments over the three-year period, with the first installment vesting no sooner
than the first anniversary of the date of grant of such Award.

 

Section
8.3 Rights Associated with Restricted Stock. During the applicable period of restriction and unless the Award Agreement provides
otherwise, each Participant to whom Restricted Stock has been granted (a) may exercise full voting rights associated with that
Restricted Stock and (b) will be entitled to receive all dividends and other distributions paid with respect to that Restricted
Stock; provided, however, that such dividends or other distributions shall be subject to the same restrictions on transferability
and forfeitability as the shares of Restricted Stock with respect to which they were issued. This means that no accrued dividends
shall be paid to the Participant until the restrictions on the Restricted Stock lapse and such dividends shall be forfeited to
the extent that the Participant forfeits the related Restricted Stock.

 

ARTICLE
IX

RESTRICTED
STOCK UNITS

 

Section
9.1 Grant of Restricted Stock Units. Subject to the terms and conditions of this Plan, the Committee may grant Restricted
Stock Units to Participants at any time during the term of the Plan. Such Restricted Stock Units shall be subject to the terms
and conditions that the Committee specifies in the Award Agreement and the terms and conditions of the Plan.

 

Section
9.2 Award Agreement. Each Award of Restricted Stock Units shall be evidenced by an Award Agreement that specifies the number
of shares of Stock underlying the Award, the restricted period, the conditions upon which the restrictions on the Restricted Stock
Units will lapse, the time at which and form in which the Restricted Stock Units will be settled, and such other terms and conditions
as the Committee determines and which are not inconsistent with the terms and conditions of this Plan.

 

Section
9.3 Terms, Conditions and Restrictions. The Committee shall impose such other terms, conditions and restrictions on any Award
of Restricted Stock Units as the Committee may deem advisable, including, without limitation, restrictions based on the achievement
of specific performance goals, time-based restrictions, holding requirements or sale restrictions placed on the underlying shares
of Stock by the Company upon vesting of such Restricted Stock Units. Vesting of any Restricted Stock Unit that is based in whole
or in part on performance conditions and/or the level of achievement versus such performance conditions shall be subject to a
performance period of not less than one year, and vesting of any Restricted Stock Unit based solely upon continued employment
or the passage of time shall vest over a period of not less than three years from the date the Award is made, provided that
such vesting may occur in pro rata installments over the three-year period, with the first installment vesting no sooner than
the first anniversary of the date of grant of such Award.

 

Section
9.4 Form of Settlement. An Award of Restricted Stock Units may be settled in full shares of Stock, in cash or in a combination
thereof, as specified by the Committee in the related Award Agreement.

 

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Section
9.5 Dividend Equivalents. Awards of Restricted Stock Units may provide the Participant with dividend equivalents, as determined
by the Committee in the Committee’s sole discretion and as set forth in the related Award Agreement; provided, however,
that such dividend equivalents shall be subject to the same terms and conditions, including the applicable forfeiture conditions,
as the Restricted Stock Units. This means that no amount shall be paid in connection with a dividend equivalent right until shares
of Stock are issued or cash is paid in connection with the Restricted Stock Units and any dividend equivalents shall be forfeited
to the extent that the Participant forfeits the related Restricted Stock Units.

 

Section
9.6 No Voting Rights. In no event will a Participant have any voting rights with respect to the shares of Stock underlying
the Restricted Stock Units.

 

ARTICLE
X

Amendment
and Modification of Plan

 

Section
10.1 Amendment. The Board may from time to time amend or modify or make such changes in and additions to the Plan as it may
deem desirable, without further action on the part of the shareholders of the Company except as such shareholder approval may
be required (a) to satisfy the requirements of Rule 16b-3 under the Exchange Act or any successor rule or regulation; (b) to satisfy
applicable requirements of the Code; or (c) to satisfy applicable requirements of the NASDAQ Stock Market or any securities exchange
on which are listed any of the Company’s equity securities. No such action to amend the Plan shall reduce the then-existing
number of Awards granted to any Participant or adversely change the terms and conditions thereof without such Participant’s
consent.

 

ARTICLE
XI

Taxation
and Withholding

 

Section
11.1 Tax Withholding. With respect to Employees, the Company shall have the power and the right to deduct or withhold an amount
sufficient to satisfy federal, state and local taxes required by law to be withheld with respect to any grant, exercise, or payment
made under or as a result of the Plan. At the discretion of the Committee, a Participant may be permitted to pay to the Company
the withholding amount in the form of cash, shares of Stock owned by the Participant for at least the previous six months (or
such other period acceptable under the generally accepted accounting principles) or by having the Company withhold shares of Stock
from the settlement of the Award. If payment of the withholding amount is made by tendering shares of Stock, the value of the
shares of Stock delivered shall equal the Fair Market Value on the applicable day.

 

Section
11.2 Required Consent to and Notification of Code Section 83(b) Election. No election under Section 83(b) of the Code (to
include in gross income in the year of transfer the amounts specified in Code Section 83(b)) or under a similar provision
of the laws of a jurisdiction outside the United States may be made unless expressly permitted by the terms of the Award document
or by action of the Committee in writing prior to the making of such election. In any case in which a Participant is permitted
to make such an election in connection with an Award, the Participant shall notify the Company of such election within ten days
of filing notice of the election with the Internal Revenue Service or other governmental authority, in addition to any filing
and notification required pursuant to regulations issued under Code Section 83(b) or other applicable provision.

 

Section
11.3 Requirement of Notification Upon Disqualifying Disposition Under Code Section 421(b). If any Participant shall make
any disposition of shares of Stock delivered pursuant to the exercise of an Incentive Stock Option under the circumstances described
in Code Section 421(b) (i.e., a disqualifying disposition), such Participant shall notify the Company of such disposition within
ten days thereof.

 

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ARTICLE
XII

Miscellaneous

 

Section
12.1 Transferability. Except as specifically permitted in an Award Agreement, during the Participant’s lifetime, any
Award may be exercised only by the Participant or any guardian or legal representative of the Participant, and the Award shall
not be transferable except by will or the laws of descent and distribution.

 

Section
12.2 Designation of Beneficiary. A Participant may file a written designation of a beneficiary who is to receive any Stock
that is unsettled and/or cash that is unpaid in the event of the Participant’s death. Such designation of beneficiary may
be changed by the Participant at any time by written notice to the Company. Upon the death of a Participant and upon receipt by
the Company of proof of identity and the existence of a beneficiary at the time of the Participant’s death validly designated
by the Participant under the Plan, the Company shall deliver such Stock and/or cash to such beneficiary. In the event of the death
of a Participant in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s
death, the Company shall deliver such Stock and/or cash to the executor or the administrator of the estate of the Participant,
or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion,
may deliver such Stock and/or cash to the spouse or to any one or more dependents of the Participant as the Company may designate.
No beneficiary shall, prior to the death of the Participant by whom he has been designated, acquire any interest in the Stock
and/or cash credited to the Participant under the Plan.

 

Section
12.3 Effect of Termination, Death, Disability and Retirement. Unless otherwise specified in the Award Agreement, all Awards
will be exercisable or forfeited as described in this Section 12.3:

 

		(a)	Termination.
                                         If a Participant’s service as a Director or an Employee terminates for any
                                         reason, other than his Retirement, death or Disability, before the date of expiration
                                         of the Awards held by such Participant, (i) any Options and Stock Appreciation Rights
                                         that are not exercisable and any unvested Restricted Stock shall become null and void
                                         on the date of such termination and (ii) all exercisable Options and Stock Appreciation
                                         Rights shall terminate on the earlier of (1) the date of expiration of the Options and
                                         Stock Appreciation Rights, as applicable, or (2) 30 days following the date of the Participant’s
                                         termination. A Participant who terminates employment with the Company, but retains his
                                         status as a Director is not considered terminated with respect to any outstanding Award
                                         until the date the Participant ceases to be both a Director and an Employee of the Company,
                                         provided that any Incentive Stock Option that is outstanding as of the date that the
                                         Participant terminates employment with the Company shall be treated as a Nonqualified
                                         Stock Options following the date of the Participant’s termination as an employee.

 

		(b)	Death.
                                         If a Participant’s service as a Director or an Employee terminates due to his
                                         death before the expiration of the Awards held by the Participant, (i) any Options and
                                         Stock Appreciation Rights that are not exercisable shall become exercisable and all Options
                                         and Stock Appreciation Rights shall terminate on the earlier of (1) the date of expiration
                                         of the Options and Stock Appreciation Rights, as applicable, or (2) one year following
                                         the date of the Participant’s death; and (ii) any unvested Restricted Stock shall
                                         become fully vested. The executor, administrator or personal representative of the estate
                                         of a deceased Participant, or the person or persons to whom an Award granted hereunder
                                         shall have been validly transferred by the executor, the administrator or the personal
                                         representative of the Participant’s estate, shall have the right to exercise the
                                         Participant’s Option or Stock Appreciation Right or receive the Participant’s
                                         Restricted Stock. To the extent that such Options and Stock Appreciation Rights would
                                         otherwise be exercisable under the terms of the Plan and the Participant’s Award
                                         Agreement, such exercise may occur at any time prior to the termination date specified
                                         in this Section 12.3(b).

 

    	 	A-10	 

     

    

 

		(c)	Disability.
                                         If a Participant’s service as a Director or an Employee terminates due to his
                                         Disability before the expiration of the Awards held by the Participant, (i) any Options
                                         and Stock Appreciation Rights that are not exercisable shall become exercisable and all
                                         Options and Stock Appreciation Rights shall terminate on the earlier of (1) the date
                                         of expiration of the Options and Stock Appreciation Rights, as applicable, or (2) one
                                         year following the date of the Participant’s termination of service due to Disability;
                                         and (ii) any unvested Restricted Stock shall become fully vested.

 

		(d)	Retirement.
                                         If a Participant Retires before the date of expiration of the Awards held by such
                                         Participant, (i) any Options and Stock Appreciation Rights that are not exercisable shall
                                         become exercisable and all Options and Stock Appreciation Rights shall terminate on the
                                         earlier of (1) the date of expiration of the Options and Stock Appreciation Rights, as
                                         applicable, or (2) one year following the date of the Participant’s Retirement;
                                         provided, however, that an Incentive Stock Option that is not exercised within three
                                         months after the date of the Participant’s Retirement shall be treated as a Nonqualified
                                         Stock Option; and (ii) any unvested Restricted Stock shall become fully vested.

 

Section
12.4 Antidilution. If there is a Stock dividend, Stock split, recapitalization (including payment of an extraordinary dividend),
merger, consolidation, combination, spin-off, distribution of assets to shareholders, exchange of shares or other similar corporate
change affecting the Stock, the Committee will appropriately adjust (a) the number of shares of Stock that may be issued subject
to Awards that may be granted to Participants during any period, (b) the aggregate number of shares of Stock available for Awards
or subject to outstanding Awards (as well as any Stock-based limits imposed under the Plan), (c) the respective exercise price,
number of shares of Stock and other limitations applicable to outstanding Awards, and (d) and other factors, limits or terms affecting
any outstanding Awards. Notwithstanding the foregoing, an adjustment pursuant to this Section 12.4 shall be made only to the extent
such adjustment complies, to the extent applicable, with Section 409A of the Code.

 

Section
12.5 Applicable Event. In the event an Applicable Event occurs, (a) if determined by the Committee in the applicable Award
Agreement or otherwise determined by the Committee in its sole discretion, any outstanding Awards then held by Participants which
are unexercisable or otherwise unvested or subject to lapse restrictions may automatically be deemed exercisable or otherwise
vested or no longer subject to lapse restrictions, as the case may be, immediately prior to such Applicable Event and (b) the
Committee may, but shall not be obligated to (i) cancel such Awards for the Change in Control Price or (ii) provide for the issuance
of substitute Awards that will substantially preserve the otherwise applicable terms of any affected Awards previously granted
hereunder as determined by the Committee in its sole discretion or (iii) provide that for a period of at least fifteen (15) days
prior to the Applicable Event, any Options or Stock Appreciation Rights shall be exercisable as to all shares of Stock subject
thereto and that upon the occurrence of the Applicable Event, such Options and Stock Appreciation Rights shall terminate and be
of no further force and effect.

 

Section
12.6 Application of Funds. The proceeds received by the Company from the sale of Stock pursuant to Awards shall be used for
general corporate purposes.

 

Section
12.7 Tenure. Nothing in the Plan or in any Award granted hereunder or in any Award Agreement relating thereto shall confer
upon any Director or Employee the right to continue in such position with the Company or any Subsidiary.

 

Section
12.8 Other Compensation Plans. The adoption of the Plan shall not affect any other stock option or incentive or other compensation
plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company or any Subsidiary from establishing
any other forms of incentive or other compensation for Directors or Employees.

 

Section
12.9 No Obligation to Exercise Awards. The granting of an Award shall impose no obligation upon the Participant to exercise
or accept such Award.

 

    	 	A-11	 

     

    

 

Section
12.10 Plan Binding on Successors. The Plan shall be binding upon the successors and assigns of the Company.

 

Section
12.11 Compliance with Section 16. If the Company has a class of equity securities registered under Section 12 of the Exchange
Act, transactions under the Plan are intended to comply with all applicable conditions of Rule 16b-3 or its successors under the
Exchange Act. To the extent that any transaction or action by the Committee fails to so comply, the Committee may amend the Plan
and the terms of any outstanding Award, and any action of the Committee which fails to comply shall be deemed void to the extent
permitted by law and deemed advisable by the Committee.

 

Section
12.12 Requirements of Law. The grant of Awards and the issuance of shares of Stock will be subject to all applicable laws,
rules and regulations and to all required approvals of any governmental agencies or exchange, market or other quotation system
on or though which the securities of the Company are then traded. Also, no shares of Stock will be issued under the Plan unless
the Company is satisfied that the issuance of those shares of Stock will comply with applicable federal and state securities laws.
Shares of Stock tendered under the Plan may be subject to any stock transfer orders and other restrictions that the Committee
believes to be advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any exchange,
market or other quotation system on or through which the Company’s securities are then traded, or any other applicable federal
or state securities law. The Committee may cause a legend or legends to be placed on any certificates issued under the Plan to
make appropriate reference to restrictions within the scope of this section.

 

Section
12.13 Singular, Plural and Gender. Whenever used herein, nouns in the singular shall include the plural, and the masculine
pronoun shall include the feminine.

 

Section
12.14 Headings. Headings are inserted for convenience of reference; they constitute no part of the Plan.

 

Section
12.15 Governing Law. Except as otherwise required by law, the validity, construction and administration of the Plan shall
be determined under the laws of the State of Ohio.

 

Section
12.16 Section 409A of the Code. It is intended that Awards granted under the Plan comply with or be exempt from the requirements
of Section 409A of the Code and the Treasury Regulations promulgated thereunder (and any subsequent notices or guidance issued
by the Internal Revenue Service), and the Plan will be interpreted, administered and operated accordingly. Nothing herein shall
be construed as an entitlement to or guarantee of any particular tax treatment to a Participant.

 

Section
12.17 Additional Award Forfeiture Provisions. 

 

		(a)	Forfeiture
of Options and Other Awards and Gains Realized Upon Prior Option Exercises or Award Settlements. Unless otherwise determined
by the Committee, each Award granted shall be subject to the following additional forfeiture conditions, to which the Participant,
by accepting an Award hereunder, agrees. If any of the events specified in Section 12.17(b) occurs (a “Forfeiture Event”),
all of the following forfeitures will result:

 

		(i)	The
                                         unexercised portion of each Option held by the Participant, whether or not vested, and
                                         any other Award not then settled will be immediately forfeited and canceled upon the
                                         occurrence of the Forfeiture Event; and

 

		(ii)	The
Participant will be obligated to repay to the Company, in cash, within five business days after demand is made therefor by the
Company, the total amount of Award Gain (as defined herein) realized by the Participant upon each exercise of an Option or settlement
of an Award that occurred on or after (A) the date that is six months prior to the occurrence of the Forfeiture Event, if
the Forfeiture Event occurred while the Participant was employed by the Company or a subsidiary or affiliate of the Company, or
(B) the date that is six months prior to the date the Participant’s employment by the Company or a subsidiary or affiliate
of the Company terminated, if the Forfeiture Event occurred after the Participant ceased to be so employed. For purposes of this
Section, the term “Award Gain” shall mean (X) in respect of a given Option exercise, the product of (1) the
Fair Market Value per share of Stock at the date of such exercise (without regard to any subsequent change in the market price
of shares) minus the exercise price times (2) the number of shares as to which the Option was exercised at that date, and
(Y) in respect of any other settlement of an Award granted to the Participant, the Fair Market Value of the cash or Stock
paid or payable to the Participant less any cash or the Fair Market Value of any Stock or property (other than an Award or award
which would have itself then been forfeitable hereunder and excluding any payment of tax withholding) paid by the Participant
to the Company as a condition of or in connection such settlement.

 

    	 	A-12	 

     

    

 

		(b)	Events
Triggering Forfeiture. The forfeitures specified in Section 12.17(a) will be triggered upon the occurrence of any one of the
following Forfeiture Events at any time during a Participant’s employment by the Company or a subsidiary or affiliate of
the Company, or during the one-year period following termination of such employment:

 

		(i)	If
                                         the Company or a Subsidiary is required to prepare an accounting restatement due to material
                                         non-compliance of the Company or a Subsidiary with any financial reporting requirement
                                         under any applicable laws;

 

		(ii)	The
                                         Participant, acting alone or with others, directly or indirectly, (A) engages, either
                                         as employee, employer, consultant, advisor, or director, or as an owner, investor, partner,
                                         or stockholder unless the Participant’s interest is insubstantial, in any business
                                         in an area or region in which the Company or any of its Subsidiaries conducts business
                                         at the date the event occurs, which is directly in competition with a business then conducted
                                         by the Company or s Subsidiary; (B) induces any customer or supplier of the Company
                                         or any Subsidiary with which the Company or a Subsidiary has a business relationship,
                                         to curtail, cancel, not renew, or not continue his or her or its business with the Company
                                         or such Subsidiary; or (C) induces, or attempts to influence, any associate of or
                                         service provider to the Company or a Subsidiary to terminate such employment or service.
                                         The Committee shall, in its discretion, determine which lines of business the Company
                                         and its Subsidiaries conduct on any particular date and which third parties may reasonably
                                         be deemed to be in competition with the Company or a Subsidiary. For purposes of this
                                         Section 12.17(b)(i), a Participant’s interest as a stockholder is insubstantial
                                         if it represents beneficial ownership of less than five percent of the outstanding class
                                         of stock, and a Participant’s interest as an owner, investor, or partner is insubstantial
                                         if it represents ownership, as determined by the Committee in its discretion, of less
                                         than five percent of the outstanding equity of the entity;

 

		(iii)	The
Participant discloses, uses, sells, or otherwise transfers, except in the course of employment with or other service to the Company
or any Subsidiary, any confidential or proprietary information of the Company or any Subsidiary, including but not limited to
information regarding the Company’s and its Subsidiaries’ current and potential customers, organization, associates,
finances, and methods of operations and investments, so long as such information has not otherwise been disclosed to the public
or is not otherwise in the public domain (other than by the Participant’s breach of this provision), except as required
by law or pursuant to legal process, or the Participant makes statements or representations, or otherwise communicates, directly
or indirectly, in writing, orally, or otherwise, or takes any other action which may, directly or indirectly, disparage or be
damaging to the Company or any of its Subsidiaries or their respective officers, directors, associates, advisors, businesses or
reputations, except as required by law or pursuant to legal process; or

 

		(iv)	The
Participant fails to cooperate with the Company or any Subsidiary in any way, including, without limitation, by making himself
or herself available to testify on behalf of the Company or such Subsidiary in any action, suit, or proceeding, whether civil,
criminal, administrative, or investigative, or otherwise fails to assist the Company or any Subsidiary in any way, including,
without limitation, in connection with any such action, suit, or proceeding by providing information and meeting and consulting
with members of management of, other representatives of, or counsel to, the Company or such Subsidiary, as reasonably requested.

 

    	 	A-13	 

     

    

 

		(v)	The
Participant, alone or in conjunction with another person, (A) interferes with or harms, or attempts to interfere with or
harm, the relationship of the Company or any Subsidiary with any person who at any time was a customer or supplier of the Company
or any Subsidiary or otherwise had a business relationship with the Company or any Subsidiary; or (A) hires, solicits for
hire, aids in or facilitates the hire, or causes to be hired, either as an employee, contractor or consultant, any person who
is currently employed, or was employed at any time during the six-month period prior thereto, as an employee, contractor or consultant
of the Company or any Subsidiary.

 

		(c)	Agreement
Does Not Prohibit Competition or Other Participant Activities. Although the conditions set forth in this Section 12.17
shall be deemed to be incorporated into an Award, a Participant is not thereby prohibited from engaging in any activity set forth
in Section 12.17(b), including but not limited to competition with the Company and its Subsidiaries. The non-occurrence of
the Forfeiture Events set forth in Section 12.17(b) is a condition to the Participant’s right to realize and retain value
from his or her compensatory Options and Awards, and the consequence under the Plan if the Participant engages in an activity
giving rise to any such Forfeiture Event are the forfeitures specified herein. The Company and a Participant shall not be precluded
by this provision or otherwise from entering into other agreements concerning the subject matter of Section 12.17.

 

		(d)	Committee
Discretion. The Committee may, in its discretion, waive in whole or in part the Company’s right to forfeiture under
this Section 12.17, but no such waiver shall be effective unless evidenced by a writing signed by a duly authorized officer
of the Company. In addition, the Committee may impose additional conditions on Awards, by inclusion of appropriate provisions
in the document evidencing or governing any such Award.

 

 

A-14EX-4.1

 Exhibit 4.1 
  

 
 VMware, Inc. 

Debt Securities 
 Indenture

 Dated as of August 21, 2017 

The Bank of New York Mellon Trust Company, N.A., 

as Trustee 
  

 

 CROSS-REFERENCE TABLE 

This Cross-Reference Table is not a part of the Indenture 
  

			
	TIA Section	 	Indenture Section
	 310(a)(1)
	 	7.10
	 (a)(2)
	 	7.10
	 (a)(3)
	 	N.A.
	 (a)(4)
	 	N.A.
	 (b)
	 	7.08; 7.10; 11.02
		
	 311(a)
	 	7.11
	 (b)
	 	7.11
	 (c)
	 	N.A.
		
	 312(a)
	 	2.05
	 (b)
	 	11.03
	 (c)
	 	11.03
		
	 313(a)
	 	7.06
	 (b)(1)
	 	N.A.
	 (b)(2)
	 	7.06
	 (c)
	 	11.02
	 (d)
	 	7.06
		
	 314(a)
	 	4.03; 11.02
	 (b)
	 	N.A.
	 (c)(1)
	 	11.04
	 (c)(2)
	 	11.04
	 (c)(3)
	 	N.A.
	 (d)
	 	N.A.
	 (e)
	 	11.05
		
	 315(a)
	 	7.01(b)
	 (b)
	 	7.05; 11.02
	 (c)
	 	7.01(a)
	 (d)
	 	7.01(c)
	 (e)
	 	6.11
		
	 316(a)(last sentence)
	 	11.06
	 (a)(1)(A)
	 	6.05
	 (a)(1)(B)
	 	6.04
	 (a)(2)
	 	N.A.
	 (b)
	 	6.07
	 317(a)(1)
	 	6.08
	 (a)(2)
	 	6.09
	 (b)
	 	2.04
		
	 318(a)
	 	11.01

 N.A. means Not Applicable. 

  
 i 

 TABLE OF CONTENTS 

This Table of Contents is not a part of the Indenture 

ARTICLE ONE 

DEFINITIONS AND INCORPORATION BY REFERENCE 
  

							
	 Section 1.01
	 	Definitions	  	 	- 1 -	 
	 Section 1.02
	 	Other Definitions	  	 	- 3 -	 
	 Section 1.03
	 	Incorporation by Reference of Trust Indenture Act	  	 	- 4 -	 
	 Section 1.04
	 	Rules of Construction	  	 	- 4 -	 
	
	ARTICLE TWO	 
	
	THE SECURITIES	 
	 Section 2.01
	 	Form and Dating	  	 	- 4 -	 
	 Section 2.02
	 	Execution and Authentication	  	 	- 6 -	 
	 Section 2.03
	 	Registrar and Paying Agent	  	 	- 7 -	 
	 Section 2.04
	 	Paying Agent to Hold Money in Trust	  	 	- 7 -	 
	 Section 2.05
	 	Securityholder Lists	  	 	- 7 -	 
	 Section 2.06
	 	Transfer and Exchange	  	 	- 8 -	 
	 Section 2.07
	 	Replacement Securities	  	 	- 8 -	 
	 Section 2.08
	 	Outstanding Securities	  	 	- 8 -	 
	 Section 2.09
	 	Temporary Securities	  	 	- 9 -	 
	 Section 2.10
	 	Cancellation	  	 	- 9 -	 
	 Section 2.11
	 	Defaulted Interest	  	 	- 9 -	 
	 Section 2.12
	 	Treasury Securities	  	 	- 9 -	 
	 Section 2.13
	 	CUSIP/ISIN Numbers	  	 	- 9 -	 
	 Section 2.14
	 	Deposit of Moneys	  	 	- 9 -	 
	 Section 2.15
	 	Book-Entry Provisions for Global Security	  	 	- 10 -	 
	 Section 2.16
	 	No Duty to Monitor	  	 	- 11 -	 
	
	ARTICLE THREE	 
	
	REDEMPTION	 
	 Section 3.01
	 	Notices to Trustee	  	 	- 11 -	 
	 Section 3.02
	 	Selection of Securities to be Redeemed	  	 	- 12 -	 
	 Section 3.03
	 	Notice of Redemption	  	 	- 12 -	 
	 Section 3.04
	 	Effect of Notice of Redemption	  	 	- 13 -	 
	 Section 3.05
	 	Deposit of Redemption Price	  	 	- 13 -	 
	 Section 3.06
	 	Securities Redeemed in Part	  	 	- 13 -	 
	
	ARTICLE FOUR	 
	
	COVENANTS	 
	 Section 4.01
	 	Payment of Securities	  	 	- 13 -	 
	 Section 4.02
	 	Maintenance of Office or Agency	  	 	- 13 -	 
	 Section 4.03
	 	Compliance Certificate	  	 	- 13 -	 
	 Section 4.04
	 	Waiver of Stay, Extension or Usury Laws	  	 	- 14 -	 
	 Section 4.05
	 	SEC Reports	  	 	- 14 -	 

  
 ii 

							
	
	ARTICLE FIVE	 
	
	SUCCESSOR CORPORATION	 
	 Section 5.01
	 	When Company May Merge, etc.	  	 	- 14 -	 
	
	ARTICLE SIX	 
	
	DEFAULTS AND REMEDIES	 
	 Section 6.01
	 	Events of Default	  	 	- 15 -	 
	 Section 6.02
	 	Acceleration	  	 	- 16 -	 
	 Section 6.03
	 	Other Remedies	  	 	- 16 -	 
	 Section 6.04
	 	Waiver of Existing Defaults	  	 	- 16 -	 
	 Section 6.05
	 	Control by Majority	  	 	- 16 -	 
	 Section 6.06
	 	Limitation on Suits	  	 	- 16 -	 
	 Section 6.07
	 	Rights of Holders to Receive Payment	  	 	- 17 -	 
	 Section 6.08
	 	Collection Suit by Trustee	  	 	- 17 -	 
	 Section 6.09
	 	Trustee May File Proofs of Claim	  	 	- 17 -	 
	 Section 6.10
	 	Priorities	  	 	- 17 -	 
	 Section 6.11
	 	Undertaking for Costs	  	 	- 18 -	 
	
	ARTICLE SEVEN	 
	
	TRUSTEE	 
	 Section 7.01
	 	Duties of Trustee	  	 	- 18 -	 
	 Section 7.02
	 	Rights of Trustee	  	 	- 19 -	 
	 Section 7.03
	 	Individual Rights of Trustee	  	 	- 20 -	 
	 Section 7.04
	 	Trustee’s Disclaimer	  	 	- 20 -	 
	 Section 7.05
	 	Notice of Defaults	  	 	- 20 -	 
	 Section 7.06
	 	Reports by Trustee to Holders	  	 	- 20 -	 
	 Section 7.07
	 	Compensation and Indemnity	  	 	- 21 -	 
	 Section 7.08
	 	Replacement of Trustee	  	 	- 21 -	 
	 Section 7.09
	 	Successor Trustee by Merger, etc.	  	 	- 22 -	 
	 Section 7.10
	 	Eligibility; Disqualification	  	 	- 22 -	 
	 Section 7.11
	 	Preferential Collection of Claims Against Company	  	 	- 22 -	 
	
	ARTICLE EIGHT	 
	
	DISCHARGE OF INDENTURE	 
			
	 Section 8.01
	 	Defeasance upon Deposit of Moneys or Government Obligations; Satisfaction and Discharge	  	 	- 22 -	 
	 Section 8.02
	 	Survival of the Company’s Obligations	  	 	- 24 -	 
	 Section 8.03
	 	Application of Trust Money	  	 	- 24 -	 
	 Section 8.04
	 	Repayment to the Company	  	 	- 24 -	 
	 Section 8.05
	 	Reinstatement	  	 	- 25 -	 
	
	ARTICLE NINE	 
	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 
			
	 Section 9.01
	 	Without Consent of Holders	  	 	- 25 -	 
	 Section 9.02
	 	With Consent of Holders	  	 	- 26 -	 

  
 iii 

							
	 Section 9.03
	 	Compliance with Trust Indenture Act	  	 	- 27 -	 
	 Section 9.04
	 	Revocation and Effect of Consents	  	 	- 27 -	 
	 Section 9.05
	 	Notation on or Exchange of Securities	  	 	- 27 -	 
	 Section 9.06
	 	Trustee to Sign Amendments, etc.	  	 	- 27 -	 
	
	ARTICLE TEN	 
	
	SECURITIES IN FOREIGN CURRENCIES	 
	 Section 10.01
	 	Applicability of Article	  	 	- 28 -	 
	
	ARTICLE ELEVEN	 
	
	MISCELLANEOUS	 
	 Section 11.01
	 	Trust Indenture Act Controls	  	 	- 28 -	 
	 Section 11.02
	 	Notices	  	 	- 28 -	 
	 Section 11.03
	 	Communications by Holders with Other Holders	  	 	- 29 -	 
	 Section 11.04
	 	Certificate and Opinion as to Conditions Precedent	  	 	- 29 -	 
	 Section 11.05
	 	Statements Required in Certificate or Opinion	  	 	- 29 -	 
	 Section 11.06
	 	Rules by Trustee and Agents	  	 	- 30 -	 
	 Section 11.07
	 	Governing Law	  	 	- 30 -	 
	 Section 11.08
	 	No Adverse Interpretation of Other Agreements	  	 	- 30 -	 
	 Section 11.09
	 	No Recourse Against Others	  	 	- 30 -	 
	 Section 11.10
	 	Successors and Assigns	  	 	- 30 -	 
	 Section 11.11
	 	Duplicate Originals	  	 	- 30 -	 
	 Section 11.12
	 	Severability	  	 	- 30 -	 
	 Section 11.13
	 	Waiver of Jury Trial	  	 	- 30 -	 
	 Section 11.14
	 	Submission to Jurisdiction	  	 	- 30 -	 
	 Section 11.15
	 	Foreign Account Tax Compliance Act (FATCA)	  	 	- 31 -	 

 SIGNATURES 
 EXHIBIT A –
Form of Security 

  
 iv 

 INDENTURE dated as of August 21, 2017, (the “Base Indenture”), by and among
VMware, Inc., a Delaware corporation (the “Company”) and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s
debt securities issued under this Base Indenture: 
 ARTICLE ONE 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

“Affiliate” means, when used with reference to a specified person, any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Person specified. 
 “Agent” means any Registrar, Paying Agent or co-Registrar or agent for service of notices and demands. 
 “Authorizing Resolution”
means a resolution adopted by the Board of Directors or by an Officer or committee of Officers pursuant to Board delegation authorizing a Series of Securities. 

“Bankruptcy Law” means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of
debtors. 
 “Board of Directors” means either the Board of Directors of the Company or any duly authorized committee
empowered by that Board or the Executive Committee thereof to act with respect to this Indenture. 
 “Business Day” means
any calendar day that is not a Saturday, Sunday or legal holiday in New York, New York and on which commercial banks are open for business in New York, New York. 

“Capital Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents
(however designated) of or in such Person’s capital stock or other equity interests. 
 “Company” means the party
named as such in this Indenture until a successor replaces it pursuant to the Indenture and thereafter means the successor. 

“control” means, when used with respect to any Person, the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Default” means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of
Default. 
 “Definitive Security” means a certificated Security registered in the name of the Securityholder thereof. 

“Depositary” means, with respect to Securities of any Series which the Company shall determine will be issued in whole or in
part as a Global Security, DTC, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, and any other applicable U.S. or foreign statute or regulation, which, in each case, shall be designated by the Company
pursuant to Section 2.01. 
 “Dollars” and “$” mean United States Dollars. 

“DTC” means The Depository Trust Company. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 “Foreign Currency” means any currency, currency unit or composite currency,
including, without limitation, the euro, issued by the government of one or more countries other than the United States of America or by any recognized confederation or association of such governments. 

“GAAP” means generally accepted accounting principles set forth in the accounting standards codification of the Financial
Accounting Standards Board or in such other statements by such or any other entity as may be approved by a significant segment of the accounting profession of the United States, as in effect on the date of this Base Indenture. 

“Global Security” means, with respect to any Series of Securities, a Security executed by the Company and delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or its nominee. 

“Government Obligations” means securities which are (i) direct obligations of the United States or the other government
or governments in the confederation which issued the Foreign Currency in which the principal of or any interest on the Security of the applicable Series shall be payable, in each case for the payment of which its full faith and credit is pledged or
(ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States or such other government or governments, in each case the payment of which is unconditionally guaranteed as a full faith
and credit obligation by the United States or such other government or governments, which, in either case are not callable or redeemable at the option of the issuer or issuers thereof, and shall also include a depositary receipt issued by a bank or
trust company as custodian with respect to any such Government Obligations or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of a depositary receipt;
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Government
Obligation or the specific payment of interest on or principal of the Government Obligation evidenced by such depositary receipt. 

“Holder” or “Securityholder” means the Person in whose name a Security is registered on the Registrar’s
books. 
 “Indenture” means this Base Indenture as amended or supplemented from time to time, including pursuant to any
Authorizing Resolution or supplemental indenture pertaining to any Series, and including, for all purposes of this instrument and any such Authorizing Resolution or supplemental indenture, the provisions of the TIA that are deemed to be a part of
and govern this Base Indenture and any such Authorizing Resolution or supplemental indenture, respectively. 
 “Issue Date”
means, with respect to any Series of Securities, the date on which the Securities of such Series are originally issued under this Indenture. 

“NYUCC” means the New York Uniform Commercial Code, as in effect from time to time. 

“Officer” means the Chairman of the Board, the President, any Vice President, the Treasurer, the Controller or the Secretary
of the Company. 
 “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and an
Assistant Treasurer or an Assistant Secretary of the Company. 
 “Opinion of Counsel” means a written opinion, in form and
substance reasonably satisfactory to the Trustee, from legal counsel. The counsel may be an employee of or counsel to the Company. Each such opinion shall include the statements provided for in Section 11.05 if and to the extent required by the
provisions of such Section. 
 “Person” means any individual, corporation, limited liability company, partnership, joint
venture, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity of any kind. 

  
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 “principal” of a debt security means the principal of the security plus,
when appropriate, the premium, if any, on the security. 
 “Property” of any Person means all types of real, personal,
tangible, intangible or mixed property owned by such Person, whether or not included in the most recent consolidated balance sheet of such Person and its Subsidiaries under GAAP. 

“SEC” means the Securities and Exchange Commission or any successor agency performing the duties now assigned to it under the
TIA. 
 “Securities” means any Securities that are issued under this Base Indenture. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Series” means a series of Securities established under this Base Indenture. 

“Subsidiary” of any Person means any corporation or other entity of which a majority of the Capital Stock having ordinary
voting power to elect a majority of the board of directors of such entity or other persons performing similar functions is at the time directly or indirectly owned or controlled by such Person. 

“TIA” means the Trust Indenture Act of 1939, as in effect from time to time, except as otherwise provided herein. 

“Trustee” means the party named as such in this Base Indenture until a successor replaces it pursuant to this Base Indenture
and thereafter means the successor serving hereunder; provided, however, that if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any Series shall mean only the Trustee with
respect to Securities of that Series. 
 “Trust Officer” means, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, including any vice president, assistant vice president, assistant secretary, senior associate, associate, trust officer or any other officer of the Trustee who customarily performs functions similar to
those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture. 
 “United States” means the United States of America. 

Section 1.02 Other Definitions. 
  

			
	 Term
	  	Defined in Section
	 Agent Members
	  	2.15
	 Base Indenture
	  	Preamble
	 Covenant Defeasance
	  	8.01
	 Custodian
	  	6.01
	 Event of Default
	  	6.01
	 Legal Defeasance
	  	8.01
	 Paying Agent
	  	2.03
	 Payment Default
	  	6.01
	 Registrar
	  	2.03
	 Security Register
	  	2.03
	 Successor
	  	5.01

  
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 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings: 
 “Commission” means the SEC. 

“indenture securities” means the Securities of a particular Series. 

“indenture security holder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company or any other obligor on the Securities of a Series. 

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
have the meanings so assigned to them. 
 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 
  

	 	(1)	a term has the meaning assigned to it herein; 

  

	 	(2)	an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP and all accounting determinations shall be made in accordance with GAAP; 

 

	 	(3)	“or” is not exclusive and “including” means “including without limitation”; 

  

	 	(4)	words in the singular include the plural, and in the plural include the singular; 

  

	 	(5)	“herein,” “hereof” and “hereunder,” and other words of similar import, refer to this Indenture as a whole (including any Authorizing Resolution or supplemental indenture relating to the
relevant Series) and not to any particular Article, Section or other subdivision; 

  

	 	(6)	all exhibits are incorporated by reference herein and expressly made a part of this Indenture; and 

  

	 	(7)	any transaction or event shall be considered “permitted by” or made “in accordance with” or “in compliance with” this Indenture or any particular provision thereof if such transaction or
event is not expressly prohibited by this Indenture or such provision, as the case may be. 

 ARTICLE TWO 

THE SECURITIES 
 Section 2.01
Form and Dating. 
 The aggregate principal amount of Securities that may be issued under this Base Indenture is unlimited. The
Securities may be issued from time to time in one or more Series. Each Series shall be created by an Authorizing Resolution or a supplemental indenture that establishes the terms of the Series, which may include the following: 

 

	 	(1)	the title of the Series; 

  
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	 	(2)	the aggregate principal amount (or any limit on the aggregate principal amount) of the Series and, if any Securities of a Series are to be issued at a discount from their face amount, the method of computing the
accretion of such discount; 

  

	 	(3)	the interest rate or method of calculation of the interest rate; 

  

	 	(4)	the date from which interest will accrue; 

  

	 	(5)	the record dates for interest payable on Securities of the Series; 

  

	 	(6)	the dates when, places where and manner in which principal and interest are payable; 

  

	 	(7)	the Registrar and Paying Agent; 

  

	 	(8)	the terms of any mandatory (including any sinking fund requirements) or optional redemption by the Company; 

  

	 	(9)	the terms of any redemption at the option of Holders; 

  

	 	(10)	the permissible denominations in which Securities of such Series are issuable, if different from $2,000 and multiples of $1,000 in excess thereof; 

 

	 	(11)	whether Securities of such Series will be issued in registered or bearer form and the terms of any such forms of Securities; 

  

	 	(12)	whether the Securities of the Series shall be issued in whole or in part in the form of a Global Security or Securities, the terms and conditions, if different from those contained in this Base Indenture, upon which
such Global Security or Securities may be exchanged in whole or in part for Definitive Securities; the Depositary for such Global Security or Securities; the form of any legend or legends, if any, to be borne by any such Global Security or
Securities in addition to or in lieu of the legends referred to in Section 2.15; 

  

	 	(13)	the currency or currencies (including any composite currency) in which principal or interest or both may be paid; 

  

	 	(14)	if payments of principal or interest may be made in a currency other than that in which Securities of such Series are denominated, the manner for determining such payments, including the time and manner of determining
the exchange rate between the currency in which such Securities are denominated and the currency in which such Securities or any of them may be paid, and any deletions from or modifications of or additions to the terms of this Indenture to provide
for or to facilitate the issuance of Securities denominated or payable, at the election of the Company or a Holder thereof or otherwise, in a Foreign Currency; 

  

	 	(15)	provisions for electronic issuance of Securities or issuance of Securities of such Series in uncertificated form; 

  

	 	(16)	any Events of Default, covenants, defined terms and/or other terms in addition to or in lieu of those set forth in this Base Indenture; 

 

	 	(17)	whether and upon what terms Securities of such Series may be defeased or discharged if different from the provisions set forth in this Base Indenture; 

 

	 	(18)	the form of the Securities of such Series, which, unless the Authorizing Resolution or supplemental indenture otherwise provides, shall be in the form of Exhibit A; 

  
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	 	(19)	any terms that may be required by or advisable under applicable law; 

  

	 	(20)	the percentage of the principal amount of the Securities of such Series which is payable if the maturity of the Securities of such Series is accelerated in the case of Securities issued at a discount from their face
amount; 

  

	 	(21)	whether Securities of such Series will or will not have the benefit of guarantees and, if applicable, the terms and conditions upon which such guarantees may be subordinated to other indebtedness of the respective
guarantors; 

  

	 	(22)	whether the Securities of such Series are senior or subordinated debt securities, and if subordinated debt securities, the terms of such subordination; 

 

	 	(23)	whether the Securities of the Series will be convertible into or exchangeable for other Securities, common shares or other securities of any kind of the Company or another obligor, and, if so, the terms and conditions
upon which such Securities will be so convertible or exchangeable, including the initial conversion or exchange price or rate or the method of calculation, how and when the conversion price or exchange ratio may be adjusted, whether conversion or
exchange is mandatory, at the option of the holder or at the Company’s option, the conversion or exchange period, and any other provision in relation thereto; 

 

	 	(24)	if there is more than one Trustee or a Trustee other than the Trustee that is a party to this Base Indenture, the identity of the Trustee and, if not the Trustee, the identity of each Security Registrar, Paying Agent or
Authenticating Agent with respect to such Securities; and 

  

	 	(25)	any other terms in addition to or different from those contained in this Base Indenture applicable to such Series. 

All Securities of one Series need not be issued at the same time and, unless otherwise provided, a Series may be reopened for issuances of
additional Securities of such Series pursuant to an Authorizing Resolution, an Officers’ Certificate or in any indenture supplemental hereto. 

The creation and issuance of a Series and the authentication and delivery thereof are not subject to any conditions precedent. 

Section 2.02 Execution and Authentication. 

One Officer shall sign the Securities for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security
shall nevertheless be valid. 
 A Security shall not be valid until the Trustee manually signs the certificate of authentication on the
Security. The signature shall be conclusive evidence that the Security has been authenticated under this Base Indenture. 
 At any time and
from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication. Each Security shall be dated the date of its authentication. The
Trustee shall authenticate Securities for original issue upon receipt of, and shall be fully protected in relying upon: 
 (a) An order to
the Trustee signed by an officer of the Company directing the Trustee to authenticate the Securities; 

  
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 (b) a copy of the resolution or resolutions of the Board of Directors in or pursuant to which the
terms and form of the Securities were established, certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect as of the date of such certificate, and if
the terms and form of such Securities are established by an Officers’ Certificate pursuant to general authorization of the Board of Directors, such Officers’ Certificate; 

(c) a supplemental indenture, if any; 

(d) an Officers’ Certificate of the Company delivered in accordance with Section 11.04; and 

(e) an Opinion of Counsel delivered in accordance with Section 11.04, and that states that such Securities, when authenticated and
delivered by Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms,
subject to bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting the enforcement of creditors’ rights and to general equity principles. 

The Trustee shall have the right to decline to authenticate and deliver any Securities under this Section if the Trustee, being advised by
counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall determine that such action would expose the Trustee to personal liability to existing Holders. 

Section 2.03 Registrar and Paying Agent. 

The Company shall maintain an office or agency where Securities may be presented for registration of transfer or where Securities of a Series
that are convertible or exchangeable may be surrendered for conversion or exchange (“Registrar”), an office or agency where Securities may be presented for payment (“Paying Agent”) and an office or agency where
notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Registrar shall keep a register of the Securities and of their transfer and exchange (the “Security Register”). The
Company may have one or more co-Registrars and one or more additional paying agents. The term “Paying Agent” includes any additional paying agent. 

The Company shall enter into an appropriate agency agreement with any Agent not a party to this Base Indenture. The agreement shall implement
the provisions of this Indenture that relate to such Agent. The Company shall promptly notify the Trustee in writing of the name and address of any such Agent and the Trustee shall have the right to inspect the Securities Register at all reasonable
times to obtain copies thereof, and the Trustee shall have the right to rely upon such register as to the names and addresses of the Holders and the principal amounts and certificate numbers thereof. If the Company fails to maintain a Registrar or
Paying Agent or fails to give the foregoing notice, the Trustee shall act as such. 
 The Company initially appoints the Trustee as
Registrar and Paying Agent. 
 Section 2.04 Paying Agent to Hold Money in Trust. 

Each Paying Agent shall hold in trust for the benefit of Securityholders and the Trustee all money held by the Paying Agent for the payment of
principal of or interest on the Securities, and shall notify the Trustee of any default by the Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money and hold it as a separate trust
fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon doing so the Paying Agent shall have no further liability for the money. 

Section 2.05 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. If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least five (5) Business Days before each semiannual 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. 

  
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 Section 2.06 Transfer and Exchange. 

Where a Security is presented to the Registrar or a co-Registrar with a request to register a transfer,
the Registrar shall register the transfer as requested if the requirements of Section 8-401(a) of the NYUCC are met and the other provisions of this Section 2.06 are satisfied.
Where Securities are presented to the Registrar or a co-Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as
requested if the same requirements are met. To permit transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. The Registrar need not transfer or exchange any Security selected for redemption or repurchase,
except the unredeemed or repurchased part thereof if the Security is redeemed or repurchased in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed or repurchased. Any exchange or
transfer shall be without charge, except that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto except in the case of exchanges pursuant to 2.09,
3.06, or 9.05 not involving any transfer. 
 Any Holder of a Global Security shall, by acceptance of such Global Security,
agree that transfers of beneficial interests in such Global Security may be effected only through a book entry system maintained by the Holder of such Global Security (or its agent), and that ownership of a beneficial interest in the Security shall
be required to be reflected in a book entry. 
 Section 2.07 Replacement Securities. 

If the Holder of a Security claims that the Security has been lost, destroyed, mutilated or wrongfully taken, the Company shall issue and
execute a replacement security and, upon written request of any Officer of the Company, the Trustee shall authenticate such replacement Security, provided, in the case of a lost, destroyed or wrongfully taken Security, that the requirements
of Section 8-405 of the NYUCC are met. If any such lost, destroyed, mutilated or wrongfully taken Security shall have matured or shall be about to mature, the Company may, instead of issuing a substitute
Security therefor, pay such Security without requiring (except in the case of a mutilated Security) the surrender thereof. An indemnity bond must be sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee and
any Agent from any loss which any of them may suffer if a Security is replaced, including the acquisition of such Security by a bona fide purchaser. The Company and the Trustee may charge for its expenses in replacing a Security. 

Section 2.08 Outstanding Securities. 

Securities outstanding at any time are all Securities authenticated by the Trustee except for those cancelled by it and those described in this
Section. A Security does not cease to be outstanding because the Company or one of its Affiliates holds the Security. 
 If a Security is
replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a “protected purchaser” (as such term is defined in the
NYUCC). 
 If the Paying Agent holds on a redemption date, purchase date or maturity date money sufficient to pay Securities payable on that
date, then on and after that date such Securities cease to be outstanding and interest on them ceases to accrue. 
 Subject to the foregoing
provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by
such other Security. 

  
 - 8 - 

 Section 2.09 Temporary Securities. 

Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary
Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and, upon surrender for
cancellation of the temporary Security, the Company shall execute and the Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged, the temporary Securities shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities authenticated and delivered hereunder. 
 Section 2.10 Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Securities surrendered to them for registration of transfer, exchange, redemption, purchase or payment. The Trustee and no one else shall cancel and dispose of such cancelled or tendered securities, or retain in accordance with its standard
retention policy, all Securities surrendered for registration of transfer, exchange, redemption, purchase, payment or cancellation. Unless the Authorizing Resolution or supplemental indenture so provides, the Company may not issue new Securities to
replace Securities that it has previously paid or delivered to the Trustee for cancellation. 
 Section 2.11 Defaulted Interest. 

If the Company defaults in a payment of interest on the Securities of any Series, it shall pay the defaulted interest plus any interest
payable on the defaulted interest to the persons who are Securityholders of such Series on a subsequent special record date. The Company shall fix such special record date and a payment date which shall be reasonably satisfactory to the Trustee. At
least 15 days before such special record date, the Company shall send to each Securityholder of the relevant Series a notice that states the record date, the payment date and the amount of defaulted interest to be paid. On or before the date such
notice is sent, the Company shall deposit with the Paying Agent money sufficient to pay the amount of defaulted interest to be so paid. The Company may pay defaulted interest in any other lawful manner if, after notice given by the Company to the
Trustee of the proposed payment, such manner of payment shall be deemed practicable by the Trustee. 
 Section 2.12 Treasury Securities.

 In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any direction, waiver,
consent or notice, Securities owned by the Company or any of its Affiliates shall be considered as though they are not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction,
waiver or consent, only Securities which a Trust Officer of the Trustee actually knows are so owned shall be so considered. 
 Section 2.13
CUSIP/ISIN Numbers. 
 The Company in issuing the Securities of any Series may use a “CUSIP” and/or “ISIN” or
other similar number, and if so, the Trustee shall use the CUSIP and/or ISIN or other similar number in notices of redemption or exchange as a convenience to Holders of such Securities; provided that no representation is hereby deemed to be
made by the Trustee as to the correctness or accuracy of any such CUSIP and/or ISIN or other similar number printed in the notice or on such Securities, and that reliance may be placed only on the other identification numbers printed on such
Securities. The Company shall promptly notify the Trustee of any change in any CUSIP and/or ISIN or other similar number. 
 Section 2.14 Deposit
of Moneys. 
 Prior to 11:00 a.m. New York City time on each interest payment date and maturity date with respect to each Series of
Securities, the Company shall have deposited with the Paying Agent in immediately available funds money in the applicable currency sufficient to make cash payments due on such interest payment date or maturity date, as the case may be, in a timely
manner which permits the Paying Agent to remit payment to the Holders of such Series on such interest payment date or maturity date, as the case may be. 

  
 - 9 - 

 Section 2.15 Book-Entry Provisions for Global Security. 

(a) Any Global Security of a Series initially shall (i) be registered in the name of the Depositary or the nominee of such Depositary,
(ii) be delivered to the Trustee as custodian for such Depositary and (iii) bear any required legends. 
 Members of, or
participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee as its custodian, or under the Global Security,
and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of
customary practices governing the exercise of the rights of a Holder of any Security. 
 (b) Transfers of any Global Security shall be
limited to transfers in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in the Global Security may be transferred or exchanged for Definitive Securities in accordance with the
rules and procedures of the Depositary. In addition, Definitive Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Security if (i) the Depositary notifies the Company that it is
unwilling or unable to continue as Depositary for the Global Security and a successor depository is not appointed by the Company within 90 days of such notice or (ii) an Event of Default has occurred and is continuing and the Registrar has
received a request from the Depositary to issue Definitive Securities. 
 (c) In connection with any transfer or exchange of a portion of
the beneficial interest in any Global Security to beneficial owners pursuant to paragraph (b), the Registrar shall (if one or more Definitive Securities are to be issued) reflect on its books and records the date and a decrease in the
principal amount of the Global Security in an amount equal to the principal amount of the beneficial interest in the Global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or more
Definitive Securities of like Series and amount. 
 (d) In connection with the transfer of an entire Global Security to beneficial owners
pursuant to paragraph (b), the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the
Depositary in exchange for its beneficial interest in the Global Security, an equal aggregate principal amount of Definitive Securities of the same Series in authorized denominations. 

(e) The Holder of any Global Security may grant proxies and otherwise authorize any person, including Agent Members and persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities of such Series. 

(f) Unless otherwise provided in the Authorizing Resolution or supplemental indenture for a particular Series of Securities, each Global
Security of such Series shall bear legends in substantially the following forms: 
 “THIS GLOBAL SECURITY IS HELD BY THE
DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE HOLDERS OF BENEFICIAL INTERESTS HEREIN, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE
MAY MAKE ANY SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06 OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE
TRUSTEE FOR CANCELLATION PURSUANT TO THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.” 

  
 - 10 - 

 “UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN
DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR TO ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.” 
 Section 2.16 No Duty to Monitor. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members or beneficial owners of interests in any Global Security) other than to require delivery of
such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof. 
 Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the
Depositary. 
 ARTICLE THREE 

REDEMPTION 
 Section 3.01
Notices to Trustee. 
 Securities of a Series that are redeemable prior to maturity shall be redeemable in accordance with their
terms and, unless the Authorizing Resolution or supplemental indenture provides otherwise, in accordance with this Article Three. 

If the Company wants to redeem Securities pursuant to Paragraph 4 of the Securities, it shall notify the Trustee in writing of the
redemption date and the principal amount of Securities to be redeemed. Any such notice may be cancelled at any time prior to notice of such redemption being sent to Holders. Any such cancelled notice shall be void and of no effect. 

If the Company wants to credit any Securities previously redeemed, retired or acquired against any redemption pursuant to Paragraph 5
of the Securities, it shall notify the Trustee of the amount of the credit and it shall deliver any Securities not previously delivered to the Trustee for cancellation with such notice. 

The Company shall give each notice provided for in this Section 3.01 at least 15 days before the notice of any such
redemption is to be delivered to Holders (unless a shorter notice shall be satisfactory to the Trustee). 

  
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 Section 3.02 Selection of Securities to be Redeemed. 

If fewer than all of the Securities of a Series are to be redeemed, the Trustee (or depository, as applicable) shall select the Securities to
be redeemed in a manner that complies with applicable requirements of the Depositary. The selection shall be made from Securities outstanding not previously called for redemption and the party making such selection shall promptly notify the Company
of the serial numbers or other identifying attributes of the Securities so selected. Securities may be selected for redemption portions of the principal of Securities that have denominations larger than the minimum denomination for the Series.
Securities and portions of them selected shall be in amounts equal to a permissible denomination for the Series. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption.

 Unless otherwise provided in the Authorizing Resolution or supplemental indenture relating to a Series, if any Security selected for
partial redemption is converted into or exchanged for Common Stock or other securities, cash or other property in part before termination of the conversion or exchange right with respect to the portion of the Security so selected, the converted
portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted or exchanged during a selection of Securities to be redeemed shall be treated by the Trustee as outstanding
for the purpose of such selection. 
 Section 3.03 Notice of Redemption. 

At least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail, postage
prepaid (or in the case of Global Securities, deliver electronically in accordance with the applicable procedures of the Depositary), to each Holder of Securities to be redeemed. 

The notice shall identify the Securities to be redeemed and shall state: 

 

	 	(1)	the redemption date; 

  

	 	(2)	the redemption price or the formula pursuant to which such price will be calculated; 

  

	 	(3)	if any Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed and that, after the redemption date, upon surrender of such Security, a new Security or Securities in
principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Security; 

  

	 	(4)	in the case of Securities of a Series that are convertible or exchangeable into shares of the Company’s common stock or other securities, cash or other property, the conversion or exchange price or rate, the date
or dates on which the right to convert or exchange the principal of the Securities of such Series to be redeemed will commence or terminate and the place or places where such Securities may be surrendered for conversion or exchange;

  

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

  

	 	(6)	that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

  

	 	(7)	that interest on Securities called for redemption ceases to accrue on and after the redemption date; 

  

	 	(8)	that the Securities are being redeemed pursuant to the mandatory redemption or the optional redemption provisions, as applicable; and 

 

	 	(9)	the CUSIP number and that no representation is hereby deemed to be made be made by the Trustee as to the correctness or accuracy of any such CUSIP and/or ISIN or other similar number printed in the notice or on such
Securities, and that reliance may be placed only on the other identification numbers printed on such Securities. 

  
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 At the Company’s request, the Trustee shall give the notice of redemption in the
Company’s name and at its expense; provided, however, that the Company shall deliver to the Trustee at least 15 days prior to the date on which notice of redemption is to be sent or such shorter period as may be satisfactory to
the Trustee, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04 Effect of Notice of Redemption. 

Once notice of redemption is sent, Securities called for redemption become due and payable on the redemption date and at the redemption price
as set forth in the notice of redemption. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price, plus accrued and unpaid interest to the redemption date. Notices of redemption may be subject to one or more
conditions. In the event that any such conditions are not satisfied the Company may amend or revoke such notice of redemption by sending notice to Securityholders (with a copy to the Trustee) in accordance with the applicable procedures of the
Depository. 
 Section 3.05 Deposit of Redemption Price. 

On or before the redemption date, the Company shall deposit with the Paying Agent immediately available funds in the applicable currency
sufficient to pay the redemption price of and accrued interest on all Securities to be redeemed on that date. 
 Section 3.06 Securities Redeemed
in Part. 
 Upon surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate for
each Holder a new Security of the same Series equal in principal amount to the unredeemed portion of the Security surrendered. 
 ARTICLE
FOUR 
 COVENANTS 

Section 4.01 Payment of Securities. 

The Company shall pay the principal of and interest on a Series on the dates, in the currency and in the manner provided in the Securities of
the Series. An installment of principal or interest shall be considered paid on the date it is due if the Paying Agent holds on that date money in the applicable currency designated for and sufficient to pay the installment. 

The Company shall pay interest on overdue principal at the rate borne by the Series; it shall pay interest on overdue installments of interest
at the same rate. 
 Section 4.02 Maintenance of Office or Agency. 

The Company shall maintain the office or agency required under Section 2.03. The Company shall give prior 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 agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the address of the Trustee. 
 Section 4.03 Compliance Certificate.

 The Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company an Officers’
Certificate stating whether or not the signers know of any continuing Default by the Company in performing any of its obligations under this Indenture. If they do know of such a Default, the certificate shall describe the Default. In addition, the
Company will notify the Trustee within 5 business days upon the Company’s knowledge of a Default. 

  
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 Section 4.04 Waiver of Stay, Extension or Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Securities of any Series as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the Company expressly waives all benefit or
advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

Section 4.05 SEC Reports. 

The Company covenants to comply with Section 314 of the Trust Indenture Act. Delivery of such information and documents to the Trustee
under this Section 4.05 is for informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive notice or knowledge of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

ARTICLE FIVE 
 SUCCESSOR
CORPORATION 
 Section 5.01 When Company May Merge, etc. 

The Company will not consolidate with or merge into any other Person (in a transaction in which the Company is not the surviving corporation)
or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries, taken as a whole, in one or more related transactions, to another Person, unless: 

 

	 	(1)	the Person formed by such consolidation or into which the Company is merged or the Person to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made shall be a corporation,
limited liability company, partnership, trust or other business entity, shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by a
supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance and observance of every
covenant of this Indenture on the part of the Company to be performed or observed and the conversion rights shall be provided for in accordance with this Indenture, if applicable, or as otherwise specified in this Indenture, by supplemental
indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the Person (if other than the Company) formed by such consolidation or into which the Company shall have been merged or by the Person which shall have acquired
the Company’s assets, and 

  

	 	(2)	immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and

  

	 	(3)	the Company or such surviving Person has delivered to the Trustee an Officer’ Certificate and an Opinion of Counsel, each stating that such transaction and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture comply with this Indenture and that all conditions precedent therein provided for relating to such transaction have been complied with. 

  
 - 14 - 

 The foregoing provisions shall not apply to any sale, assignment, transfer, lease, conveyance or
other disposition of assets between or among the Company and any one or more of its Subsidiaries or between or among any one or more of the Company’s Subsidiaries. 

ARTICLE SIX 
 DEFAULTS
AND REMEDIES 
 Section 6.01 Events of Default. 

An “Event of Default” on a Series occurs if, voluntarily or involuntarily, whether by operation of law or otherwise, any of
the following occurs: 
  

	 	(1)	the failure by the Company to pay interest on any Security of such Series when the same becomes due and payable and the continuance of any such failure for a period of 30 days; 

 

	 	(2)	the failure by the Company to pay the principal of any Security of such Series when the same becomes due and payable at maturity, upon acceleration, redemption or otherwise; 

 

	 	(3)	the failure by the Company to comply with any of its agreements or covenants in, or provisions of, the Securities of such Series or this Indenture (as they relate thereto) and such failure continues for the period and
after the notice specified below (except as specified in the applicable supplemental indenture or Authorizing Resolution), which will constitute Events of Default with notice but without passage of time); 

 

	 	(4)	the Company pursuant to or within the meaning of any Bankruptcy Law: 

  

	 	(A)	commences a voluntary case, 

  

	 	(B)	consents to the entry of an order for relief against it in an involuntary case, 

  

	 	(C)	consents to the appointment of a Custodian of it or for all or substantially all of its Property, or 

  

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

  

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

  

	 	(A)	is for relief against the Company as debtor in an involuntary case, 

  

	 	(B)	appoints a Custodian of the Company or a Custodian for all or substantially all of the Property of the Company, or 

  

	 	(C)	orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 60 days. 

A Default as described in subclause (3) above will not be deemed an Event of Default until the Trustee notifies the
Company, or the Holders of at least 25 percent in principal amount of the then outstanding Securities of the applicable Series notify the Company and the Trustee, of the Default and (except in the case of a default with respect to Article
Five (or any other provision specified in the applicable supplemental indenture or Authorizing Resolution)) the Company does not cure the Default within 90 days after receipt of the notice. The notice must specify the Default, demand that it be
remedied and state that the notice is a “Notice of Default.” If such a Default is cured within such time period, it ceases to exist, without any action by the Trustee or any other Person. 

The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy
Law. 

  
 - 15 - 

 Section 6.02 Acceleration. 

If an Event of Default (other than an Event of Default with respect to the Company resulting from subclause (4) or (5)
above), shall have occurred and be continuing under the Indenture, the Trustee by notice to the Company, or the Holders of at least 25 percent in principal amount of the Securities of the applicable Series then outstanding by notice to the
Company and the Trustee, may declare all Securities of such Series to be due and payable immediately. Upon such declaration of acceleration, the amounts due and payable on the Securities of such Series will be due and payable immediately. If an
Event of Default with respect to the Company specified in subclauses (4) or (5) above occurs, all amounts due and payable on the Securities of such Series will ipso facto become and be immediately due and payable without any
declaration, notice or other act on the part of the Trustee and the Company or any Holder. 
 Holders of a majority in principal amount of
the then outstanding Securities of such Series may rescind an acceleration with respect to such Series and its consequence (except an acceleration due to nonpayment of principal or interest) if the rescission would not conflict with any judgment or
decree and if all existing Events of Default (other than the non-payment of accelerated principal) have been cured or waived. 

No such rescission shall extend to or shall affect any subsequent Event of Default, or shall impair any right or power consequent thereon.

 Section 6.03 Other Remedies. 

If an Event of Default on a Series occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to
collect the payment of principal of or interest on the Series or to enforce the performance of any provision in the Securities or this Indenture applicable to the Series. 

The Trustee may maintain a proceeding even if it does not possess any of the Securities 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. 
 Section 6.04 Waiver of Existing Defaults. 

Subject to Section 9.02, the Holders of a majority in principal amount of the outstanding Securities of a Series
affected by a waiver (voting as a class) on behalf of all the Holders of such Series by notice to the Trustee may waive an existing Default on such Series and its consequences. When a Default is waived, it is cured and stops continuing, and any
Event of Default arising therefrom shall be deemed to have been cured; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon. 

Section 6.05 Control by Majority. 

The Holders of a majority in principal amount of the outstanding Securities of a Series 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 it with respect to such Series. The Trustee, however, may refuse to follow any direction (i) that conflicts with law or this Indenture,
(ii) that, subject to Section 7.01, the Trustee determines is unduly prejudicial to the rights of other Securityholders, (iii) that would involve the Trustee in personal liability, if there shall be reasonable
grounds for believing that adequate indemnity against such liability is not reasonably assured to it, or (iv) if the Trustee shall not have been provided with indemnity satisfactory to it. 

Section 6.06 Limitation on Suits. 

A Securityholder of a Series may not pursue any remedy with respect to this Indenture or the Series unless: 

 

	 	(1)	the Holder gives to the Trustee written notice of a continuing Event of Default on the Series; 

  
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	 	(2)	the Holders of at least 25% of the aggregate principal amount of the outstanding Securities of the Series make a written request to the Trustee to pursue the remedy; 

 

	 	(3)	such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; 

  

	 	(4)	the Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and 

  

	 	(5)	no written request inconsistent with such written request shall have been given to the Trustee pursuant to this Section 6.06. 

A Securityholder may not use this Indenture to prejudice the rights of another Holder of Securities of the same Series or to obtain a
preference or priority over another Holder of Securities of the same Series (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances by such Holder are unduly prejudicial to
another Holder). 
 Section 6.07 Rights of Holders to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on any Security,
on or after the respective due dates expressed in the Security, 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. 
 Section 6.08 Collection Suit by Trustee. 

If an Event of Default in payment of interest or principal specified in Section 6.01(1) or (2) occurs and
is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal and interest remaining unpaid. 

Section 6.09 Trustee May File Proofs of Claim. 

The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (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 its creditors or
Property, and unless prohibited by applicable law or regulation, may vote on behalf of the Holders in any election of a Custodian, and shall be entitled and empowered to collect and receive any moneys or other Property payable or deliverable on any
such claims and to distribute the same and any Custodian in any such judicial proceeding is hereby authorized by each Securityholder to make such payments to the Trustee. Nothing herein shall be deemed to authorize the Trustee to authorize or
consent to or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder or to authorize the Trustee to vote in respect of the
claim of any Securityholder except as aforesaid for the election of the Custodian. 
 Section 6.10 Priorities. 

If the Trustee collects any money pursuant to this Article with respect to Securities of any Series, it shall pay out the money in the
following order: 
  

			
	 First:
	  	to the Trustee, its agents and its counsel for amounts due under Section 7.07;
		
	 Second:
	  	to Securityholders of the Series for amounts due and unpaid on the Series for principal and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Series for principal and
interest, respectively; and
		
	 Third:
	  	to the Company or as a court of competent jurisdiction shall direct.

  
 - 17 - 

 The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to
this Section 6.10. 
 Section 6.11 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having the due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07 or a suit by Holders of more than 10% in principal amount of the Series. 
 ARTICLE SEVEN 

TRUSTEE 
 Section 7.01 Duties of
Trustee. 
 (a) If an Event of Default has occurred and is continuing with respect to Securities of any Series, the Trustee shall,
prior to the receipt of directions from the Holders of a majority in principal amount of the Securities of the Series, exercise its rights and powers and use the same degree of care and skill in their exercise as a prudent man would exercise or use
under the circumstances in the conduct of his 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 others and no implied covenants or
obligations shall be read into 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. The Trustee, however, in the
case of certificates or opinions specifically required by any provision hereof to be furnished to it, shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture but need not confirm or
investigate the accuracy of mathematical calculations or other facts or matters stated therein. 
 (c) The Trustee may not be relieved from
liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (1) This paragraph
does not limit the effect of paragraph (b) of this Section. 
 (2) The Trustee shall not be liable for any error of judgment made
in good faith by a Trust Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (3) The Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 or any other direction of the Holders permitted hereunder. 

(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and
(c) of this Section. 
 (e) The Trustee may refuse to perform any duty or exercise any right or power unless it receives
indemnity satisfactory to it against any loss, liability or expense. 

  
 - 18 - 

 (f) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial
liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there shall be reasonable grounds for believing that the repayment of such funds or adequate indemnity against such liability is not reasonably
assured to it. 
 Section 7.02 Rights of Trustee. 

Subject to Section 7.01: 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting on any document, resolution,
certificate, instrument, report, or direction 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, resolution, certificate, instrument,
report, or direction. 
 (b) 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 Sections 11.04 and 11.05 hereof and containing such other statements as the Trustee reasonably deems necessary to perform its duties hereunder. The Trustee shall not be liable for any action it
takes or omits to take in good faith in reliance on the Officers’ Certificate, Opinion of Counsel or any other direction of the Company permitted hereunder. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. 

(d) The Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within
the discretion or rights or powers conferred upon it by this Indenture. 
 (e) The Trustee may consult with counsel of its selection, and the
advice of such counsel or any Opinion of Counsel as to matters of law shall be full and complete authorization and protection 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. 
 (f) Unless otherwise specifically provided in the Indenture, any demand, request, direction or notice from the
Company shall be sufficient if signed by an Officer of the Company. 
 (g) For all purposes under this Indenture, the Trustee shall not be
deemed to have notice or knowledge of any Event of Default unless written notice of any Event of Default is received by a Trust Officer of the Trustee at its address specified in Section 11.02 hereof and such notice
references the Securities generally, the Company and this Indenture. 
 (h) The Trustee shall be under no obligation to exercise any of the
rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against
the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 (i) The Trustee shall not
be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other
paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

  
 - 19 - 

 (j) In no event shall the Trustee be responsible or liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(k) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(l) The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture. 
 (m) In no event shall the Trustee be responsible or liable for any
failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or
military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 7.03 Individual Rights of Trustee. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or
its affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. The Trustee, however, must comply with Sections 7.10 and 7.11. 

Section 7.04 Trustee’s Disclaimer. 

The Trustee makes no representation as to the validity or adequacy of this Indenture, the Securities or of any prospectus used to sell the
Securities of any Series; it shall not be accountable for the Company’s use of the proceeds from the Securities; it shall not be accountable for any money paid to the Company, or upon the Company’s direction, if made under and in
accordance with any provision of this Indenture; it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee; and it shall not be responsible for any statement of the Company in this
Indenture or in the Securities other than its certificate of authentication. 
 Section 7.05 Notice of Defaults. 

If a Default on a Series occurs and is continuing and if it is known to the Trustee, the Trustee shall deliver to each Securityholder of the
Series notice of the Default (which shall specify any uncured Default known to it) within 90 days after the Trustee obtains such knowledge. Except in the case of a default in payment of principal of or interest on a Series, the Trustee may withhold
the notice if and so long as the board of directors of the Trustee, the executive or any trust committee of such directors and/or responsible officers of the Trustee in good faith determine(s) that withholding the notice is in the interests of
Holders of the Series. 
 Section 7.06 Reports by Trustee to Holders. 

Within 60 days after each May 15 beginning with the May 15 following the date of this Base Indenture, the Trustee shall send to each
Securityholder a brief report dated as of such May 15 that complies with TIA § 313(a) (but if no event described in TIA § 313(1) through (8) has occurred within the twelve months preceding the reporting date no report in relation
thereto need be transmitted). The Trustee also shall comply with TIA § 313(b). 
 A copy of each report at the time of its delivery to
Securityholders shall be delivered to the Company and filed by the Trustee with the SEC and each national securities exchange on which the Securities are listed. The Company agrees to notify the Trustee of each national securities exchange on which
the Securities are listed. 

  
 - 20 - 

 Section 7.07 Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time reasonable compensation for its services subject to any written agreement between the
Trustee and the Company (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust). The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. The Company shall
indemnify the Trustee, its officers, directors, employees and agents and hold it harmless against any loss, liability or expense incurred or made by or on behalf of it in connection with the administration of this Indenture or the trust hereunder
and its duties hereunder including the costs and expenses of defending itself against or investigating any claim in the premises. The Trustee shall notify the Company promptly of any claim of which it has received written notice and for which it may
seek indemnity. The Company need not reimburse any expense or indemnify against any loss or liability incurred by the Trustee through the Trustee’s, or its officers’, directors’, or employees’ negligence or willful misconduct.

 Unless otherwise provided in any supplemental indenture or Authorizing Resolution relating to any Series, to ensure the Company’s
payment obligations in this Section, the Trustee shall have a claim prior to the Securities of all Series on all money or Property held or collected by the Trustee, except that held in trust to pay principal of or interest on particular Securities.
When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01 or in connection with Article Six hereof, the expenses (including the reasonable fees and expenses
of its counsel) and the compensation for services in connection therewith are to constitute expenses of administration under any Bankruptcy Law. Section 7.07 shall survive the discharge of the Indenture or resignation of Trustee. 

Section 7.08 Replacement of Trustee. 

The Trustee may resign with respect to Securities of any or all Series by so notifying the Company 30 days prior to its effectiveness. The
Holders of a majority in principal amount of the outstanding Securities (or of the relevant Series) may remove the Trustee by so notifying the removed Trustee in writing 30 days prior to its effectiveness and may appoint a successor trustee with the
Company’s consent. The Trustee for one or more Series of Securities may be removed by the Company, so long as no Event of Default has occurred and is continuing with respect to such Series. Such resignation or removal shall not take effect
until the appointment by the Securityholders of the relevant Series or the Company as hereinafter provided of a successor trustee and the acceptance of such appointment by such successor trustee. The Company may remove the Trustee and any
Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee for any or no reason, including if: 
  

	 	(1)	the Trustee fails to comply with Section 7.10 after written request by the Company or any bona fide Securityholder who has been a Securityholder for at least six months; 

 

	 	(2)	the Trustee is adjudged a bankrupt or an insolvent; 

  

	 	(3)	a receiver or other public officer takes charge of the Trustee or its Property; or 

  

	 	(4)	the Trustee becomes incapable of acting. 

 If the Trustee resigns or is removed or if a vacancy
exists in the office of Trustee for any reason, the Company shall promptly appoint a successor trustee with respect to the Securities of the relevant Series. If a successor trustee does not take office within 30 days after the retiring Trustee
resigns or is removed, the retiring Trustee at the expense of the Company, the Company or any Holder may petition any court of competent jurisdiction for 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 after that,
the retiring Trustee shall, upon payment of its charges hereunder, transfer all Property held by it as Trustee to the successor trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor trustee shall have
all the rights, powers and duties of the Trustee under this Indenture. A successor trustee shall send notice of its succession to each Securityholder. 

  
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 Section 7.09 Successor Trustee by Merger, etc. 

If the Trustee consolidates with, merges with or into or converts into, or transfers all or substantially all of its corporate trust business
to, another corporation, the successor corporation without any further act shall be the successor trustee. 
 Section 7.10 Eligibility;
Disqualification. 
 This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1). The Trustee
shall have a combined capital and surplus of at least $10,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b). 

Section 7.11 Preferential Collection of Claims Against Company. 

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

DISCHARGE OF INDENTURE 

Section 8.01 Defeasance upon Deposit of Moneys or Government Obligations; Satisfaction and Discharge. 

(a) The Company may, at its option and at any time, elect to have either paragraph (b) or paragraph (c) below be
applied to the outstanding Securities of any Series upon compliance with the applicable conditions set forth in paragraph (d). 
 (b)
Upon the Company’s exercise under paragraph (a) of the option applicable to this paragraph (b) with respect to any Series, the Company shall be deemed to have been released and discharged from its obligations with
respect to the outstanding Securities of the Series on the date the applicable conditions set forth 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 outstanding Securities of a Series, which shall thereafter be deemed to be “outstanding” only for the purposes of the Sections and matters under this Indenture
referred to in (i) and (ii) below, and the Company shall be deemed to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned, except for the following which shall survive until
otherwise terminated or discharged hereunder: (i) the rights of Holders of outstanding Securities of a Series to receive solely from the trust fund described in paragraph (d) below and as more fully set forth in such paragraph,
payments in respect of the principal of and interest on such Securities when such payments are due and (ii) obligations listed in Section 8.02, subject to compliance with this Section 8.01.
The Company may exercise its option under this paragraph (b) with respect to a Series notwithstanding the prior exercise of its option under paragraph (c) below with respect to the Securities of the Series. 

(c) Upon the Company’s exercise under paragraph (a) of the option applicable to this paragraph (c) with respect to
a Series, the Company shall be released and discharged from the obligations under any covenant contained in Article Five and any other covenant contained in or referenced in the Authorizing Resolution or supplemental indenture relating to
such Series (to the extent such release and discharge shall not be prohibited thereby), on and after the date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of such Series shall
thereafter be deemed to be not “outstanding” for the purpose of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed
“outstanding” for all other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to the outstanding Securities of a Series, 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 covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in
any other document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01(3) or otherwise, but, except as specified above, the remainder of this Indenture and such Securities
shall be unaffected thereby. 

  
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 (d) The following shall be the conditions to application of either paragraph (b) or
paragraph (c) above to the outstanding Securities of the applicable Series: 
 (1) The Company shall have irrevocably deposited
in trust with the Trustee (or another qualifying trustee), pursuant to an irrevocable trust and security agreement in form and substance reasonably satisfactory to the Trustee, money in the currency in which the Securities of such Series are payable
or Government Obligations or a combination thereof in such amounts and at such times as are sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of and interest on the outstanding
Securities of such Series to maturity or redemption; provided, however, that the Trustee (or other qualifying trustee) shall have received an irrevocable written order from the Company instructing the Trustee (or other qualifying
trustee) to apply such money or the proceeds of such Government Obligations to said payments with respect to the Securities of such Series to maturity or redemption; 

(2) No Default or Event of Default (other than a Default or Event of Default resulting from
non-compliance with any covenant from which the Company is released upon effectiveness of such Legal Defeasance or Covenant Defeasance pursuant to paragraph (b) or (c) hereof, as applicable)
shall have occurred and be continuing on the date of such deposit or result therefrom; 
 (3) Such deposit will not result in a breach or
violation of, or constitute a default under, any other material instrument or agreement to which the Company or any of any of its Restricted Subsidiaries is a party or by which it or any of their Property is bound; 

(4) (i) In the event the Company elects paragraph (b) hereof, the Company shall deliver to the Trustee an Opinion of Counsel in the
United States, in form and substance reasonably satisfactory to the Trustee, to the effect that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the Issue Date pertaining
to such Series, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall state that, or (ii) in the event the Company elects paragraph
(c) hereof, the Company shall deliver to the Trustee an Opinion of Counsel in the United States, in form and substance reasonably satisfactory to the Trustee, to the effect that, in the case of clauses (i) and (ii), and
subject to customary assumptions and exclusions, Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and the defeasance contemplated hereby and will be subject
to federal income tax in the same amounts and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; 

(5) 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 preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company or
others; and 
 (6) The Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent specified herein relating to the defeasance contemplated by this Section 8.01 have been complied with. 

In the event all or any portion of the Securities of a Series are to be redeemed through such irrevocable trust, the Company must make
arrangements satisfactory to the Trustee, at the time of such deposit, for the giving of the notice of such redemption or redemptions by the Trustee in the name and at the expense of the Company. 

(e) In addition to the Company’s rights above under this Section 8.01, the Company may terminate all of its
obligations under this Indenture with respect to a Series, when: 

  
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 (1) All Securities of such Series theretofore authenticated and delivered (other than Securities
which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.07 and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by
the Company and thereafter repaid to the Company or discharged from such trust) have been delivered to the Trustee for cancellation or all such Securities not theretofore delivered to the Trustee for cancellation (A) have become due and
payable, (B) will become due and payable at maturity within one year or (C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name,
and at the expense, of the Company, and in each such case, the Company has irrevocably deposited or caused to be deposited with the Trustee (or another qualifying trustee) as trust funds in trust solely for that purpose an amount of money in the
currency in which the Securities of such Series are payable or Government Obligations or a combination thereof sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay and discharge the entire indebtedness
on the Securities of such Series not theretofore delivered to the Trustee for cancellation, for principal of and interest on the Securities of such Series, on the date of such deposit or to the maturity or redemption date, as the case may be; 

(2) The Company has paid or caused to be paid all other sums payable hereunder by the Company; 

(3) The Company has delivered irrevocable instructions to the Trustee (or such other qualifying trustee), to apply the deposited money toward
the payment of the Securities of such Series at maturity or redemption, as the case may be; and 
 (4) The Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, stating that all conditions precedent specified in this Section 8.01(e) relating to the satisfaction and discharge of this Indenture have been complied with.

 Section 8.02 Survival of the Company’s Obligations. 

Notwithstanding the satisfaction and discharge of this Indenture under Section 8.01, the Company’s obligations
in Paragraph 8 of the Securities and Sections 2.03 through 2.07, 4.01, 7.07, 7.08, 8.04 and 8.05, however, shall survive until the Securities of an applicable Series are no longer outstanding.
Thereafter, the Company’s obligations in Paragraph 8 of the Securities of such Series and Sections 7.07, 8.04 and 8.05 shall survive (as they relate to such Series) such satisfaction and discharge. 

Section 8.03 Application of Trust Money. 

The Trustee shall hold in trust money or Government Obligations deposited with it pursuant to Section 8.01. It shall
apply the deposited money and the money from Government Obligations in accordance with this Indenture to the payment of principal of and interest on the Securities of the defeased Series. 

Section 8.04 Repayment to the Company. 

The Trustee and the Paying Agent shall promptly pay to the Company upon request any excess money or securities held by them at any time. The
Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years, provided, however, that the Trustee or such Paying Agent, before
being required to make any such repayment, may at the expense of the Company cause to be published once in a newspaper of general circulation in the City of New York or send to each such Holder notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed balance of such money then remaining will be repaid to the Company. After payment to the Company, Securityholders
entitled to the money must look to the Company for payment as general creditors unless applicable abandoned property law designates another person and all liability of the Trustee or such Paying Agent with respect to such money shall cease. 

  
 - 24 - 

 Section 8.05 Reinstatement. 

If the Trustee is unable to apply any money or Government Obligations in accordance with Section 8.01 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 relating to
the Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee is permitted to apply all such money or Government Obligations in accordance with
Section 8.01; provided, however, that (a) if the Company has made any payment of interest on or principal of any Securities of the Series because of the reinstatement of its obligations hereunder, the
Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Obligations held by the Trustee and (b) unless otherwise required by any legal proceeding or any order or judgment
of any court or governmental authority, the Trustee shall return all such money or Government Obligations to the Company promptly after receiving a written request therefor at any time, if such reinstatement of the Company’s obligations has
occurred and continues to be in effect. 
 ARTICLE NINE 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 9.01 Without Consent of Holders. 

The Company and the Trustee may amend or supplement this Indenture or the Securities of a Series without notice to or consent of any
Securityholder of such Series: 
  

	 	(1)	to cure any ambiguity, omission, defect or inconsistency; 

  

	 	(2)	to comply with Article Five; 

  

	 	(3)	to provide that specific provisions of this Indenture shall not apply to a Series not previously issued or to make a change to specific provisions of this Indenture that only applies to any Series not previously issued
or to additional Securities of a Series not previously issued; 

  

	 	(4)	to create a Series and establish its terms; 

  

	 	(5)	to provide for uncertificated Securities in addition to or in place of certificated Securities; 

  

	 	(6)	to release a guarantor in respect of any Series which, in accordance with the terms of this Indenture applicable to the particular Series, ceases to be liable in respect of its guarantee; 

 

	 	(7)	to add a guarantor in respect of any Series; 

  

	 	(8)	to secure any Series; 

  

	 	(9)	to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 

  

	 	(10)	to make any change that would provide any additional rights or benefits to holders of any Series of Securities; 

(11) to make any other change that does not materially adversely affect the rights of Securityholders; and 

 

	 	(12)	to conform the provisions of the Indenture to the final offering memorandum in respect of any Series. 

  
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 After an amendment under this Section 9.01 becomes effective, the
Company shall send notice of such amendment to the Securityholders. 
 Section 9.02 With Consent of Holders. 

The Company and the Trustee may amend or supplement this Indenture or the Securities of a Series without notice to any Securityholder of such
Series but with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by the amendment (voting as a class) (including consents obtained in connection with a purchase of,
or tender offer or exchange offer for, Securities of such Series). The Holders of a majority in principal amount of the outstanding Securities of each Series affected by a waiver (voting as a class) may waive compliance by the Company with any
provision of the Securities of each such Series or of this Indenture relating to each such Series without notice to any Securityholder (including any waiver granted in connection with a purchase of, or tender offer or exchange offer for, Securities
of such Series). Without the consent of each Holder of a Security affected thereby, however, an amendment, supplement or waiver, including a waiver pursuant to Section 6.04, may not: 

(1) reduce the amount of Securities of the relevant Series whose Holders must consent to an amendment, supplement or waiver; 

(2) reduce the rate of or extend the time for payment of interest, including defaulted interest, on any Security; 

(3) reduce the principal of or extend the fixed maturity of any Security or alter the provisions (including related definitions) with respect
to redemption of any Security pursuant to Article Three hereof or with respect to any obligations on the part of the Company to offer to purchase or to redeem Securities of a Series pursuant to the Authorizing Resolution or supplemental
indenture pertaining to such Series (it being understood that only the consent of the Holders of a majority of the principal amount of the applicable Series of Securities will be required in connection with the waiver or modification of any
obligation by the Company to make an offer to purchase the Securities of such Series as a result of a change of control prior to the occurrence of a change of control); 

(4) make any change that adversely affects any right of a Holder to convert or exchange any Security into or for shares of the Company’s
common stock or other securities, cash or other property in accordance with the terms of such Security; 
 (5) modify the ranking or priority
of the Securities of the relevant Series or any guarantee thereof; 
 (6) release any guarantor of any Series from any of its obligations
under its guarantee or this Indenture otherwise than in accordance with the terms of this Indenture; 
 (7) make any change in Sections
6.04, 6.07 or this Section 9.02; 
 (8) waive a continuing Default or Event of Default in the payment of
the principal of or interest on any Security; or 
 (9) make any Security payable at a place or in money other than that stated in the
Security, or impair the right of any Securityholder to bring suit as permitted by Section 6.07. 
 An amendment of
a provision included solely for the benefit of one or more Series does not affect the interests of Securityholders of any other Series. 

It shall not be necessary for the consent of the Holders under this Section to approve the particular form of any proposed supplement, but it
shall be sufficient if such consent approves the substance thereof. 

  
 - 26 - 

 Section 9.03 Compliance with Trust Indenture Act. 

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

Section 9.04 Revocation and Effect of Consents. 

A consent to an amendment, supplement or waiver by a Holder shall bind the Holder and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. Unless otherwise provided in the consent or the consent solicitation statement or other document describing
the terms of the consent, any Holder or subsequent Holder may revoke the consent as to its Security or portion of a Security. Any revocation of a consent by the Holder of a Security or any such subsequent Holder shall be effective only if the
Trustee receives the notice of revocation before the date on which the Trustee receives an Officers’ Certificate from the Company certifying that the requisite number of consents have been received. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Securities of any Series
entitled to consent to any amendment, supplement or waiver, which record date shall be at least 10 days prior to the first solicitation of such consent. If a record date is fixed, and if Holders otherwise have a right to revoke their consent under
the consent or the consent solicitation statement or other document describing the terms of the consent, then notwithstanding the second to last sentence of the immediately preceding paragraph, those Persons who were Holders at such record date (or
their duly designated proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 90
days after such record date. 
 An amendment, supplement or waiver with respect to a Series becomes effective upon the (i) receipt by
the Company or the Trustee of the requisite consents, (ii) satisfaction of any conditions to effectiveness as set forth in this Indenture or any indenture supplemental hereto containing such amendment, supplement or waiver and
(iii) execution of such amendment, supplement or waiver (or the related supplemental indenture) by the Company and the Trustee. After an amendment, supplement or waiver with respect to a Series becomes effective, it shall bind every Holder of
such Series, unless it makes a change described in any of clauses (1) through (9) of Section 9.02, in which case, the amendment, supplement or waiver shall bind a Holder of a Security who is affected
thereby only if it has consented to such amendment, supplement or waiver 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 no such waiver
shall impair or affect the right of any Holder to receive payment of principal of and interest 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. 
 Section 9.05 Notation on or Exchange of Securities. 

If an amendment, supplement or waiver changes the terms of a Security, the Company may require the Holder of the Security to deliver it to the
Trustee, at which time the Trustee shall place an appropriate notation on the Security about the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so determines, the Company in exchange for the Security shall
issue and the Trustee shall authenticate a new Security that reflects the changed terms. 
 Section 9.06 Trustee to Sign Amendments, etc.

 Subject to Section 7.02(b), the Trustee shall sign any amendment, supplement or waiver authorized pursuant
to this Article 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 or
supplemental indenture, the Trustee shall be provided with and shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that such amendment, supplement or waiver is authorized or
permitted by this Indenture, and (solely with respect to such Opinion of Counsel) that it will be valid and binding upon the Company and enforceable in accordance with its terms. 

  
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 ARTICLE TEN 

SECURITIES IN FOREIGN CURRENCIES 

Section 10.01 Applicability of Article. 

Whenever this Indenture provides for (i) any action by, or the determination of any of the rights of, Holders of Securities of any Series
in which not all of such Securities are denominated in the same currency, or (ii) any distribution to Holders of Securities, in the absence of any provision to the contrary pursuant to this Indenture or the Securities of any particular Series,
any amount in respect of any Security denominated in a Foreign Currency shall be treated for any such action or distribution as that amount of Dollars that could be obtained for such amount on such reasonable basis of exchange and as of the record
date with respect to Securities of such Series (if any) for such action, determination of rights or distribution (or, if there shall be no applicable record date, such other date reasonably proximate to the date of such action, determination of
rights or distribution) as the Company may specify in a written notice to the Trustee or, in the absence of such written notice, as the Trustee may determine. 

ARTICLE ELEVEN 

MISCELLANEOUS 
 Section 11.01
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. 
 Section 11.02 Notices. 

Any order, consent, notice or communication shall be sufficiently given if in writing and delivered in person or mailed by first class mail,
postage prepaid, or delivered by commercial courier service, addressed as follows: 
 if to the Company: 

VMware, Inc. 

3401 Hillview Avenue 

Palo Alto, California 94304 

Attention: Chief Financial Officer 

if to the Trustee: 

The Bank of New York Mellon Trust Company, N.A. 

400 South Hope Street, Suite 500 

Los Angeles, California 90071 

Attention: Corporate Trust Unit 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 Any notice or communication mailed to a Securityholder shall be mailed to him by first class mail, or delivered by commercial courier
service, at his address as it appears on the registration books of the Registrar, or, in the case of Global Securities sent electronically in accordance with the procedures of the Depositary, and shall be sufficiently given to him if so sent within
the time prescribed. 
 Failure to send a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency
with respect to other Securityholders. If a notice or communication is sent in the manner provided above, it is duly given, whether or not the addressee receives it except that notice to the Trustee shall only be effective upon receipt thereof by
the Trustee. 

  
 - 28 - 

 If the Company sends notice or communications to the Securityholders, it shall send a copy to the
Trustee at the same time. 
 In addition to the foregoing, the Trustee agrees to accept and act upon notice, instructions or directions
pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee e-mail
or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall
not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written
instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting
on unauthorized instructions, and the risk of interception and misuse by third parties. 
 Notwithstanding any other provision of this
Indenture or any Security, where this Indenture or any Security provides for notice of any event to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee)
pursuant to the standing instructions from the Depositary or its designee. 
 Section 11.03 Communications by Holders with Other Holders.

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

Section 11.04 Certificate and Opinion as to Conditions Precedent. 

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

	 	(1)	an Officers’ Certificate (which shall include the statements set forth in Section 11.05) stating that, in the opinion of the signers (who may rely upon an Opinion of Counsel with respect
to matters of law), 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 11.05) stating that, in the opinion of such counsel (who may rely upon an Officers’ Certificate or
certificates of public officials as to matters of fact), all such conditions precedent and covenants, compliance with which constitutes a condition precedent, if any, provided for in this Indenture relating to the proposed action or inaction, have
been complied with. 

 Section 11.05 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture 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; 

  
 - 29 - 

	 	(3)	a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an 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 condition or covenant has been complied with. 

Section 11.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or a meeting of Securityholders. The Registrar or Paying Agent may make reasonable rules
for its functions. 
 Section 11.07 Governing Law. 

The laws of the State of New York shall govern this Indenture and the Securities of each Series. 

Section 11.08 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan
or debt agreement may not be used to interpret this Indenture. 
 Section 11.09 No Recourse Against Others. 

All liability described in Paragraph 12 of the Securities of any director, officer, employee or stockholder, as such, of the Company is,
to the fullest extent permitted by applicable law, waived and released. 
 Section 11.10 Successors and Assigns. 

All covenants and agreements of the Company in this Indenture and the Securities shall bind its successors and assigns. All agreements of the
Trustee in this Indenture shall bind its successors and assigns. 
 Section 11.11 Duplicate Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. Signatures of the parties hereto transmitted by facsimile or other electronic transmission shall be deemed to be their original signatures for all purposes. 

Section 11.12 Severability. 

In case any one or more of the provisions contained in this Indenture or in the Securities of a Series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities. 

Section 11.13 Waiver of Jury Trial. 

EACH OF THE COMPANY, THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL
RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 

Section 11.14 Submission to Jurisdiction. 

The Company hereby irrevocably submits to the jurisdiction of any New York State court sitting in the Borough of Manhattan in the City of
New York or any federal court sitting in the Southern District in the Borough of Manhattan in the City of New York in respect of any suit, action or proceeding arising out of or relating to this Indenture and the Securities, and irrevocably accepts
for itself and in respect of its property, generally and unconditionally, jurisdiction of the aforesaid courts. 

  
 - 30 - 

 Section 11.15 Foreign Account Tax Compliance Act (FATCA). 

The Company agrees (i) to provide to the Trustee sufficient information about holders or other applicable parties and/or transactions
(including any modification to the terms of such transactions) as it has in its possession to enable the Trustee to determine whether any payments pursuant to the Indenture are subject to the withholding requirements described in
Section 1471(b) of the Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations or agreements thereunder or official interpretations thereof (“Applicable Law”), and (ii) that the Trustee
shall be entitled to make any withholding or deduction from payments under the Indenture to the extent necessary to comply with Applicable Law. The terms of this section shall survive the termination of this Indenture. 

 

  
 - 31 - 

 SIGNATURES 

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

 

			
	VMware, Inc.
		
	By:	 	 /s/ Zane Rowe

 
			
	Name:	 	Zane Rowe
	Title:	 	Executive Vice President and Chief Financial Officer
	
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	 /s/ Karen Yu

	Name:	 	Karen Yu
	Title:	 	Vice President

 [Signature Page to Base Indenture] 

 

 EXHIBIT A 
  

			
	No. ___________	  	CUSIP/ISIN No.: ________

 [Title of Security] 

VMware, Inc. 
 a Delaware
corporation 
 promises to pay to __________________________________________________ or registered assigns the principal 

sum of ________________________________________________ [Dollars]* on ___________________________. 

Interest Payment Dates: _____________________________ and _____________________________ 

Record Dates: _____________________________ and _____________________________ 

Authenticated: _____________________________ Dated: _____________________________ 

 

			
	 VMware, Inc.

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	[___________________], as Trustee, certifies that this is one of the Securities referred to in the within mentioned Indenture.
		
	By:	 	  

		 	Authorized Signatory

  

	*	Or other currency. Insert corresponding provisions on reverse side of Security in respect of foreign currency denomination or interest payment requirement. 

  
 A-1 

 VMware, Inc. 

[Title of Security] 
 VMware,
Inc., a Delaware corporation (together with its successors and assigns, the “Company”), issued this Security under an Indenture dated as of
                     , (as amended, modified or supplemented from time to time in accordance therewith, the “Base Indenture”), as
supplemented by the Supplemental Indenture dated as of                         , (the “Supplemental Indenture”
and together with the Base Indenture, the “Indenture”), by and among the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (in such capacity, the “Trustee”), to which reference is hereby made
for a statement of the respective rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which the Securities are, and are to be, authorized and delivered. All terms used in this
Security that are defined in the Indenture shall have the meanings assigned to them therein. 
 1. Interest. The
Company promises to pay interest on the principal amount of this Security at the rate per annum shown above. The Company will pay interest semiannually on
                     and                      of
each year, commencing                     ,             , until the principal is paid or
made available for payment. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from
                                        ,
                        , provided that, if there is no existing default in the payment of interest, and if this Security
is authenticated between a record date referred to on the face hereof and the next succeeding interest payment date, interest shall accrue from such interest payment date. Interest will be computed on the basis of a
360-day year of twelve 30-day months. 
 2.
Method of Payment. The Company will pay interest on the Securities (except defaulted interest, if any, which will be paid on such special payment date to Holders of record on such special record date as may be fixed by the
Company) to the persons who are registered Holders of Securities at the close of business on the [Insert record dates] immediately preceding the interest payment date. Holders must surrender Securities to a Paying Agent to collect principal
payments. The Company will pay principal and interest in money of [Insert applicable country or currency] that at the time of payment is legal tender for payment of public and private debts. 

3. Paying Agent and Registrar. Initially, the Trustee will act as Paying Agent and Registrar. The Company may
change or appoint any Paying Agent, Registrar or co-Registrar without notice. The Company or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Registrar or co-Registrar. 
 4. Optional Redemption.1 The Company may redeem the Securities at any time on or after                     , in whole
or in part, at its option, prior to                     , at a redemption price as calculated by the Company equal to the greater of: 

 

	 	•	 	100% of the principal amount of the Securities to be redeemed; or 

  

	 	•	 	the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due [on the maturity date][if the Securities of such series matured on
                    ] (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus          basis points,

 plus, in each case, accrued and unpaid interest, if any, on the amount being redeemed to, but excluding the date of redemption. 

Notice of redemption will be sent at least 30 but not more than 60 days before the redemption date to each holder of record of the Securities
to be redeemed at its registered address. The notice of redemption for the Securities will state, among other things, the series and amount of Securities to be redeemed, the redemption date, 

 

	1 	 If applicable. 

  
 A-2 

 
the redemption price and the place or places that payment will be made upon presentation and surrender of Securities to be redeemed. Unless we default in the payment of the redemption price,
interest will cease to accrue on any Securities that have been called for redemption at the redemption date. If fewer than all of the Securities are to be redeemed at any time, not more than 45 days prior to the redemption date, the particular
Securities or portions thereof for redemption from the outstanding Securities not previously called shall be selected in accordance with the procedures of DTC. The Trustee shall have no obligation to calculate any redemption price or premium. 

5. Mandatory Redemption.2 The Company shall redeem
[                    ]% of the aggregate principal amount of Securities originally issued under the Indenture on each of
[                    ], which redemptions are calculated to retire [        ]% of the Securities originally
issued prior to maturity. Such redemptions shall be made at a redemption price equal to 100% of the principal amount thereof, together with accrued interest to the redemption date. The Company may reduce the principal amount of Securities to be
redeemed pursuant to this Paragraph 5 by the principal amount of any Securities previously redeemed, retired or acquired, otherwise than pursuant to this Paragraph 5, that the Company has delivered to the Trustee for cancellation and
not previously credited to the Company’s obligations under this Paragraph 5. Each such Security shall be received and credited for such purpose by the Trustee at the redemption price and the amount of such mandatory redemption payment
shall be reduced accordingly. 
 6. Denominations, Transfer, Exchange. The Securities are in registered form
only without coupons in denominations of                     3 and integral multiples of
                    in excess thereof.4 A Holder may transfer or exchange Securities by
presentation of such Securities to the Registrar or a co-Registrar with a request to register the transfer or to exchange them for an equal principal amount of Securities of other denominations. The Registrar
may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Security selected for
redemption or purchase, except the unredeemed or unpurchased part thereof if the Security is redeemed or purchased in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed or purchased.

 7. Persons Deemed Owners. The registered Holder of this Security shall be treated as the owner of it for all
purposes. 
 8. Unclaimed Money. Subject to any applicable abandoned property law, the Trustee and the Paying
Agent shall pay to the Company upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and thereafter, Holders entitled to the money must look to the Company for payment as general
creditors. 
 9. Amendment, Supplement, Waiver. Subject to certain exceptions, the Indenture or the Securities
may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by the amendment and any past default or compliance with any provision relating to any
Series of the Securities may be waived in a particular instance with the consent of the Holders of a majority in principal amount of the outstanding Securities of such Series.5 Without the consent
of any Securityholder, the Company and the Trustee may amend or supplement the Indenture or the Securities in certain respects as specified in the Indenture. 

10. Successor Corporation. When a successor corporation assumes all the obligations of its predecessor under the
Securities and the Indenture, the predecessor corporation will be released from those obligations. 
  

 

	2 	If applicable. 

	3 	Insert applicable denominations and multiples. 

	4 	Insert applicable denominations and multiples. 

	5 	If different terms apply, insert a brief summary thereof. 

  
 A-3 

 11. Trustee Dealings With Company. Subject to certain limitations
imposed by the TIA, the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its affiliates, and may otherwise deal with the Company or its affiliates,
as if it were not Trustee, including owning or pledging the Securities. 
 12. No Recourse Against Others. A
director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of, such obligations or
their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. The waiver may not be effective to waive liabilities under the federal
securities laws. 
 13. Discharge of Indenture. The Indenture contains certain provisions pertaining to
defeasance and discharge, which provisions shall for all purposes have the same effect as if set forth herein. 
 14.
Authentication. This Security shall not be valid until an authorized signatory of the Trustee signs the certificate of authentication on the other side of this Security. 

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

16. GOVERNING LAW. THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK. 
 17. CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP and ISIN numbers to be printed on the Securities and has directed the Trustee to use CUSIP and ISIN numbers in notices of repurchase as a convenience to Holders. No representation is
made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of repurchase and reliance may be placed only on the other identification numbers placed thereon. 

18. Copies. The Company will furnish to any Holder upon written request and without charge a copy of the Indenture
and the applicable Authorizing Resolution or supplemental indenture. Requests may be made to: VMware, Inc., 3401 Hillview Avenue, Palo Alto, California 94304, Attention: [Chief Financial Officer]. 

  
 A-4 

 ASSIGNMENT FORM 

If you the Holder want to assign this Security, fill in the form below: 

I or we assign and transfer this Security to
                                         
                    (insert assignee’s social security or tax ID number) 

 
  

 
  

 
  

 
  

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

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

			
	 Date:
                                         
                           
	 	  
 Your
signature
 (Sign exactly as your name appears on the other side of this Security)

 Signature Guarantee: 
  

                          
                                         
                  

  
 A-5

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