Document:

EX-4.4

 Exhibit 4.4 

EXECUTION VERSION 
 AXA EQUITABLE
HOLDINGS, INC., 
 ISSUER 

WILMINGTON SAVINGS FUND SOCIETY, FSB, 

TRUSTEE 
 AND 

CITIBANK, N.A., 
 PAYING AGENT,
SECURITY REGISTRAR AND CALCULATION AGENT 
  

 
 INDENTURE 

DATED AS OF APRIL 20, 2018 
  

 
 PROVIDING FOR
ISSUANCE OF DEBT SECURITIES IN SERIES 

 CROSS-REFERENCE TABLE(1) 

 

			
	 TRUST INDENTURE ACT

SECTION
	  	 SECTION OF INDENTURE

	310(a)	  	7.09
	310(b)	  	7.08
	311(a)	  	7.13
	311(b)	  	7.13
	312(a)	  	5.01; 5.02(a)
	312(b)	  	5.02(c)
	312(c)	  	5.01(d)
	313(a)	  	5.04(a)
	313(b)	  	5.04(b)
	313(c)	  	5.04(b)
	313(d)	  	5.04(c)
	314(a)	  	5.03; 4.04; 14.07
	314(b)	  	Inapplicable
	314(c)	  	14.07
	314(d)	  	Inapplicable
	314(e)	  	14.07
	315(a)	  	7.01
	315(b)	  	6.01(b)
	315(c)	  	7.01(a); 7.02(d)
	315(d)	  	7.01(b)
	315(e)	  	6.08
	316(a)	  	6.07; 6.09
	316(b)	  	6.05
	316(c)	  	8.01
	317(a)	  	6.02
	317(b)	  	4.03
	318(a)	  	14.10

  

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

 TABLE OF CONTENTS 
  

							
	 	 	 	  	PAGE	 
	
	ARTICLE I	 
	
	DEFINITIONS	 
			
	 Section 1.01
	 	 Definitions of Terms
	  	 	1	 
	
	ARTICLE II	 
	
	DESCRIPTION, TERMS, EXECUTION,	 
	REGISTRATION AND EXCHANGE OF SECURITIES	 
			
	 Section 2.01
	 	 Designation and Terms of Securities
	  	 	8	 
	 Section 2.02
	 	 Form of Securities and Trustee’s Certificate
	  	 	11	 
	 Section 2.03
	 	 Denominations; Provisions for Payment
	  	 	11	 
	 Section 2.04
	 	 Execution and Authentication
	  	 	13	 
	 Section 2.05
	 	 Registration of Transfer and Exchange
	  	 	14	 
	 Section 2.06
	 	 Temporary Securities
	  	 	15	 
	 Section 2.07
	 	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	16	 
	 Section 2.08
	 	 Cancellation
	  	 	17	 
	 Section 2.09
	 	 Benefits of Indenture
	  	 	17	 
	 Section 2.10
	 	 Authenticating Agent
	  	 	17	 
	 Section 2.11
	 	 Global Securities
	  	 	18	 
	 Section 2.12
	 	 CUSIP Numbers, ISINs, Etc.
	  	 	19	 
	 Section 2.13
	 	 Calculation Agent
	  	 	19	 
	
	ARTICLE III	 
	
	REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS	 
			
	 Section 3.01
	 	 Redemption
	  	 	20	 
	 Section 3.02
	 	 Notice of Redemption
	  	 	20	 
	 Section 3.03
	 	 Payment upon Redemption
	  	 	21	 
	 Section 3.04
	 	 Sinking Fund
	  	 	22	 
	 Section 3.05
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	22	 
	 Section 3.06
	 	 Redemption of Securities for Sinking Fund
	  	 	22	 

  
 i 

							
	ARTICLE IV	 
	
	CERTAIN COVENANTS	 
			
	 Section 4.01
	 	 Payment of Principal, Premium and Interest
	  	 	23	 
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	23	 
	 Section 4.03
	 	 Paying Agents
	  	 	24	 
	 Section 4.04
	 	 Statement by Officers as to Default
	  	 	25	 
	 Section 4.05
	 	 Existence
	  	 	26	 
	 Section 4.06
	 	 Limitation on Liens on Stock of AXA Equitable Life Insurance Company and ABLP
	  	 	26	 
	 Section 4.07
	 	 Limitations on Disposition of Stock of Certain Subsidiaries
	  	 	27	 
	 Section 4.08
	 	 Waiver of Certain Covenants
	  	 	27	 
	 Section 4.09
	 	 Appointment to Fill Vacancy in Office of Trustee
	  	 	27	 
	
	ARTICLE V	 
	
	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	 
			
	 Section 5.01
	 	 Company to Furnish Trustee with Names and Addresses of Securityholders
	  	 	28	 
	 Section 5.02
	 	 Preservation of Information; Communications with Securityholders
	  	 	28	 
	 Section 5.03
	 	 Reports by the Company
	  	 	29	 
	 Section 5.04
	 	 Reports by the Trustee
	  	 	29	 
	
	ARTICLE VI	 
	
	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	 
			
	 Section 6.01
	 	 Events of Default
	  	 	29	 
	 Section 6.02
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	33	 
	 Section 6.03
	 	 Application of Moneys Collected
	  	 	34	 
	 Section 6.04
	 	 Limitation on Suits
	  	 	35	 
	 Section 6.05
	 	 Unconditional Right of Securityholders to Receive Principal and Interest
	  	 	35	 
	 Section 6.06
	 	 Rights and Remedies Cumulative; Delay or Omission Not Waiver
	  	 	35	 
	 Section 6.07
	 	 Control by Securityholders
	  	 	36	 
	 Section 6.08
	 	 Undertaking to Pay Costs
	  	 	36	 
	 Section 6.09
	 	 Waiver of Past Defaults
	  	 	36	 

  
 ii 

							
	ARTICLE VII	 
	
	CONCERNING THE TRUSTEE	 
			
	 Section 7.01
	 	 Certain Duties and Responsibilities of Trustee
	  	 	37	 
	 Section 7.02
	 	 Certain Rights of Trustee
	  	 	38	 
	 Section 7.03
	 	 Trustee Not Responsible for Recitals or Issuance or Securities
	  	 	40	 
	 Section 7.04
	 	 May Hold Securities
	  	 	40	 
	 Section 7.05
	 	 Moneys Held in Trust
	  	 	41	 
	 Section 7.06
	 	 Compensation and Reimbursement
	  	 	41	 
	 Section 7.07
	 	 Reliance on Officers’ Certificate
	  	 	42	 
	 Section 7.08
	 	 Disqualification; Conflicting Interests
	  	 	42	 
	 Section 7.09
	 	 Corporate Trustee Required; Eligibility
	  	 	42	 
	 Section 7.10
	 	 Resignation and Removal; Appointment of Successor
	  	 	43	 
	 Section 7.11
	 	 Acceptance of Appointment By Successor
	  	 	44	 
	 Section 7.12
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	45	 
	 Section 7.13
	 	 Preferential Collection of Claims against the Company
	  	 	46	 
	 Section 7.14
	 	 Agents
	  	 	46	 
	
	ARTICLE VIII	 
	
	CONCERNING THE SECURITYHOLDERS	 
			
	 Section 8.01
	 	 Evidence of Action by Securityholders
	  	 	46	 
	 Section 8.02
	 	 Proof of Execution by Securityholders
	  	 	47	 
	 Section 8.03
	 	 Who May be Deemed Owners
	  	 	47	 
	 Section 8.04
	 	 Certain Securities Owned by Company Disregarded
	  	 	48	 
	 Section 8.05
	 	 Actions Binding on Future Securityholders
	  	 	48	 
	
	ARTICLE IX	 
	
	SUPPLEMENTAL INDENTURES	 
			
	 Section 9.01
	 	 Supplemental Indentures without the Consent of Securityholders
	  	 	48	 
	 Section 9.02
	 	 Supplemental Indentures with Consent of Securityholders
	  	 	50	 
	 Section 9.03
	 	 Effect of Supplemental Indentures
	  	 	51	 
	 Section 9.04
	 	 Securities Affected by Supplemental Indentures
	  	 	51	 
	 Section 9.05
	 	 Execution of Supplemental Indentures
	  	 	52	 

  
 iii 

							
	ARTICLE X	 
	
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	 
			
	 Section 10.01
	 	 When the Company May Consolidate, Merge, Etc.
	  	 	52	 
	
	ARTICLE XI	 
	
	SATISFACTION AND DISCHARGE	 
			
	 Section 11.01
	 	 Satisfaction and Discharge of Indenture
	  	 	53	 
	 Section 11.02
	 	 Discharge of Obligations
	  	 	54	 
	 Section 11.03
	 	 Deposited Moneys to be Held in Trust
	  	 	54	 
	 Section 11.04
	 	 Payment of Moneys Held by Paying Agents
	  	 	55	 
	 Section 11.05
	 	 Repayment to Company
	  	 	55	 
	
	ARTICLE XII	 
	
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	 
			
	 Section 12.01
	 	 No Recourse
	  	 	55	 
	
	ARTICLE XIII	 
	
	DEFEASANCE AND COVENANT DEFEASANCE	 
			
	 Section 13.01
	 	 Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	56	 
	 Section 13.02
	 	 Defeasance and Discharge
	  	 	56	 
	 Section 13.03
	 	 Covenant Defeasance
	  	 	57	 
	 Section 13.04
	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	57	 
	 Section 13.05
	 	 Deposited Money and Government Obligations to Be Held in Trust; Miscellaneous
Provisions
	  	 	59	 
	 Section 13.06
	 	 Reinstatement
	  	 	59	 
	
	ARTICLE XIV	 
	
	MISCELLANEOUS PROVISIONS	 
			
	 Section 14.01
	 	 Effect on Successors and Assigns
	  	 	60	 
	 Section 14.02
	 	 Actions by Successor
	  	 	60	 
	 Section 14.03
	 	 Notices
	  	 	60	 
	 Section 14.04
	 	 Governing Law
	  	 	61	 

  
 iv 

							
	 Section 14.05
	 	 Waiver of Jury Trial
	  	 	62	 
	 Section 14.06
	 	 Submission to Jurisdiction
	  	 	62	 
	 Section 14.07
	 	 Compliance Certificates and Opinions
	  	 	62	 
	 Section 14.08
	 	 Form of Documents Delivered to Trustee
	  	 	63	 
	 Section 14.09
	 	 Payments on Business Days
	  	 	63	 
	 Section 14.10
	 	 Conflict with Trust Indenture Act
	  	 	63	 
	 Section 14.11
	 	 Counterparts
	  	 	64	 
	 Section 14.12
	 	 Separability
	  	 	64	 
	 Section 14.13
	 	 Assignment
	  	 	64	 
	 Section 14.14
	 	 Headings and Table of Contents
	  	 	64	 

  
 v 

 INDENTURE, dated as of April 20, 2018, among AXA Equitable Holdings, Inc., a Delaware
corporation, Wilmington Savings Fund Society, FSB, a federal savings bank duly organized and existing under the laws of the United States of America, not in its individual capacity but solely in its capacity as trustee hereunder (together with its
successors and assigns in such capacity, the “Trustee”), and Citibank, N.A., a national banking association, as Security Registrar, Paying Agent, and Calculation Agent. 

WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the
issuance of unsecured debt securities, debentures, notes, bonds or other evidences of indebtedness (hereinafter referred to as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or
more series, as provided in this Indenture; 
 WHEREAS, to provide the terms and conditions upon which the Securities are to be
authenticated, issued and delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary
to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration
of the premises and the purchase of the Securities by the holders of Securities, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions of Terms. 

The terms defined in this Section (except as in this Indenture otherwise expressly provided or unless the context otherwise requires) for all
purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the
Trust Indenture Act of 1939, as amended, or that are by reference in such Act defined in the Securities Act of 1933, as amended (except as herein otherwise expressly provided or unless the context otherwise requires), shall have the meanings
assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of the execution of this instrument. All accounting terms not otherwise defined herein have the meanings assigned to them in accordance with
generally accepted accounting principles in the United States of America. 
 “ABLP” means AllianceBernstein L.P., a
Delaware limited partnership, or any successor in interest thereto. 

 “Affiliate” of any specified Person means any other Person, directly or
indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. When used with respect to any Person, “control” means the power, directly or indirectly, to direct or cause the direction of
the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” and “under common control with” have meanings
correlative to the foregoing. 
 “Agents” means the Authenticating Agent, the Paying Agent, the Security Registrar and the
Calculation Agent, and each of their successor or assigns duly appointed herein. 
 “Authenticating Agent” means an
authenticating agent with respect to all or any of the series of Securities appointed with respect to all or any series of the Securities by the Company or the Trustee pursuant to Section 2.10. 

“AXA Equitable Life” means AXA Equitable Life Insurance Company, a stock insurance company duly organized and existing under
the insurance laws of the State of New York, or any successor in interest thereto. 
 “Bankruptcy Law” means Title 11, U.S.
Code, or any similar federal or state bankruptcy, insolvency, reorganization or other law for the relief of debtors. 
 “Board of
Directors” means the Board of Directors of the Company or any duly authorized committee of such Board. 
 “Board
Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification. 

“Business Day” means, with respect to any series of Securities, any day other than a Saturday or Sunday, legal holiday or a
day on which federal or state banking institutions in the Borough of Manhattan, The City of New York, are authorized or obligated by law, executive order or regulation to close. 

“Calculation Agent” has the meaning stated in Section 2.13 of this Indenture. 

“Capital Stock” of any Person means any and all shares or units of, rights to purchase, warrants or options for, or other
equivalent interests in equity of such Person, including Preferred Stock. 
 “Certificate” means a certificate signed by
the principal executive officer, the principal financial officer or the principal accounting officer of the Company. The Certificate need not comply with the provisions of Section 14.07. 

  
 2 

 “Company” means AXA Equitable Holdings, Inc., a corporation duly organized and
existing under the laws of the State of Delaware, or any successor in interest thereto. 
 “Commission” means the
Securities and Exchange Commission, from time to time constituted, created under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or, if at any time after the execution of this instrument such Commission is not
existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

“Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business shall
be principally administered, which office at the date hereof is located at Wilmington Savings Fund Society, FSB, WSFS Bank Center, 500 Delaware Avenue, 11th Floor, Wilmington, Delaware 19801-7411, Attention: Global Capital Markets, Raye D.
Goldsborough. 
 “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator, custodian or similar official
under any Bankruptcy Law. 
 “Default” means any event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default. 
 “Depositary” means, with respect to Securities of any series, for which the Company
shall determine that such Securities will be issued as a Global Security, The Depository Trust Company, New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or other applicable statute
or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01 or Section 2.11. 

“Event of Default” means, with respect to Securities of a particular series any event specified in Section 6.01,
continued for the period of time, if any, therein designated. 
 “Global Security” means, with respect to any series of
Securities, a Security executed by the Company and delivered by the Trustee or Authenticating Agent to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of
the Depositary or its nominee. 
 “Governmental Obligations” means securities that are (i) direct obligations
of the United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the
payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America that, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary
receipt issued by a bank (as defined in Section 3(a)(2) of the 

  
 3 

 
Securities Act of 1933, as amended) as custodian with respect to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held by
such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depositary receipt from any amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest on the Governmental Obligation evidenced by such depositary receipt. 

“herein,” “hereof” and “hereunder,” and other words of similar import, refer to this
Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “Indebtedness” of any Person means
the principal of and premium, if any, and interest due on indebtedness of such Person, whether outstanding on the date of this Indenture or thereafter created, incurred or assumed, which is (a) indebtedness for money borrowed, and
(b) any amendments, renewals, extensions, modifications and refundings of any such indebtedness. For the purposes of this definition, “indebtedness for money borrowed” means (i) any obligation of, or any obligation
guaranteed by, such Person for the repayment of borrowed money, whether or not evidenced by bonds, debentures, notes or other written instruments, (ii) any obligation of, or any such obligation guaranteed by, such Person evidenced by
bonds, debentures, notes or similar written instruments, including obligations assumed or incurred in connection with the acquisition of property, assets or businesses (provided that the deferred purchase price of any other business or
property or assets shall not be considered Indebtedness if the purchase price thereof is payable in full within 90 days from the date on which such indebtedness was created) and (iii) any obligations of such Person as lessee under leases
required to be capitalized on the balance sheet of the lessee under generally accepted accounting principles and leases of property or assets made as part of any sale and lease-back transaction to which such Person is a party. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 2.01. 

“Interest Payment Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on a
Security of a particular series. 
 “Lien” means any mortgage, pledge, lien, security interest or other encumbrance. 

  
 4 

 “Officers’ Certificate” means a certificate signed by the Chief Executive
Officer, Chief Financial Officer, President or a Vice President and by the Treasurer or an Assistant Treasurer or the Controller or an Assistant Controller or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee
and the Agent (as applicable) in accordance with the terms hereof. Each such certificate shall include the statements provided for in Section 14.07, if and to the extent required by the provisions thereof. 

“Opinion of Counsel” means an opinion in writing of legal counsel, who may be an employee of or counsel for the Company that
is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 14.07, if and to the extent required by the provisions thereof. 

“Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01(c). 

“Outstanding,” when used with reference to Securities of any series, means, subject to the provisions of Section 8.04,
as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee or the Authenticating Agent under this Indenture, except (a) Securities theretofore canceled by the Trustee or any Paying
Agent, or delivered to the Trustee or any Paying Agent for cancellation or that have previously been canceled; (b) Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in the necessary
amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent); provided,
however, that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as in Article Three provided, or provision satisfactory to the Trustee shall
have been made for giving such notice; (c) Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of Section 2.07; and (d) Securities as to
which Defeasance (as defined in Section 13.02) has been effected pursuant to Section 13.02; provided, however, that in determining whether the Securityholders of the requisite principal amount of the Outstanding Securities
have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be
Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the maturity thereof to such date pursuant to Section 6.01(c), (B) if, as of such date, the principal
amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 2.01,
(C) the principal amount of a Security denominated in one 

  
 5 

 
or more foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by
Section 2.01, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and (D) Securities owned by the Company or any
Affiliate of the Company shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other
action, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any Affiliate of the Company. 

“Paying Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any
Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, limited liability company,
joint-venture, joint-stock company, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment,” when used with respect to the Securities of any series, means the place or places where the principal of
and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 2.01 or, if not so specified, New York, New York. 

“Preferred Stock” as applied to the Capital Stock of any corporation or company means Capital Stock of any class or classes
that by its terms is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation or company, over Capital Stock of any other class of such corporation
or company. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion
of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence
the same debt as the lost, destroyed or stolen Security. 
 “Redemption Date,” when used with respect to any Security to be
redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price,” when used with
respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 

  
 6 

 “Responsible Officer,” when used with respect to the Trustee or the Agent (as
applicable), means any officer within the corporate trust department of the Trustee or the Agent (as applicable), including any vice president, assistant vice president, trust officer or any other officer of the Trustee or the Agent (as applicable)
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. 
 “Securities” has
the meaning stated in the preamble of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 

“Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to
time. 
 “Security Register” has the meaning stated in Section 2.05(b) of this Indenture. 

“Security Registrar” has the meaning stated in Section 2.05(b) of this Indenture. 

“Securityholder,” “holder of Securities,” “registered holder,” or other similar term, means
the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this Indenture. 

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

“Subsidiary” means, with respect to any Person, (i) any corporation at least a majority of whose outstanding
Voting Stock shall at the time be owned, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii) any general partnership, joint venture or similar entity,
at least a majority of whose outstanding partnership or similar interests shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries and (iii) any limited
partnership of which such Person or any of its Subsidiaries is a general partner. 
 “Trustee” means Wilmington Savings
Fund Society, FSB, and, subject to the provisions of Article Seven, shall also include its successors and assigns and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person.
The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series. 

  
 7 

 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in
effect at the date of execution of this Indenture, except as otherwise provided herein. 
 “Voting Stock,” as applied to
stock of any Person, all classes of Capital Stock of such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person. 

“Yield to Maturity” means the yield to maturity on a series of securities calculated at the time of issuance of such series
or, if applicable, of the most recent redetermination of interest on such series, and calculated in accordance with accepted financial practice. 

ARTICLE II 

DESCRIPTION, TERMS, EXECUTION, 

REGISTRATION AND EXCHANGE OF SECURITIES 

Section 2.01 Designation and Terms of Securities. 

(a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may
be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution of the Company or pursuant to one or more indentures supplemental hereto. Prior to
the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officers’ Certificate of the Company, or established in one or more indentures supplemental
hereto: 
 (1) the title of the Security of the series (which shall distinguish the Securities of the series from all other
Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of that series that may be authenticated
and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of that series); 

(3) the price or prices at which the Company will sell the Securities; 

(4) the Stated Maturity of the Securities; 

(5) the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or
rates, if any; 
 (6) the date or dates from which such interest shall accrue, the Interest Payment Dates on which such
interest will be payable or the manner of determination of such Interest Payment Dates and the record date for the determination of holders of Securities to whom interest is payable on any such Interest Payment Dates; 

  
 8 

 (7) if the amount of principal of or any premium or interest on any Securities of
the series may be determined with reference to any index, formula, or other method, such as one or more currencies, commodities, equity indices or other indices, and the manner in which such amounts shall be determined; 

(8) the place or places where the principal of and any premium and interest on any Securities of the series shall be payable;

 (9) the period or periods within which, the price or prices at which and the terms and conditions upon which, Securities
of the series may be redeemed, in whole or in part, at the option of the Company, and the manner in which the particular Securities of such series (if less than all Securities of such series are to be redeemed) are to be selected for redemption;

 (10) the obligation, if any, of the Company to redeem, repay or purchase Securities of the series pursuant to any sinking
fund or analogous provisions (including payments made in cash in participation of future sinking fund obligations) or at the option of a holder of Securities and the period or periods within which, the price or prices at which, and the terms and
conditions upon which, Securities of the series shall be redeemed, repaid or purchased, in whole or in part, pursuant to such obligation; 

(11) if other than denominations of $2,000 and any integral multiples of $1,000 in excess thereof, the denominations in which
the Securities of the series shall be issuable; 
 (12) if other than the full principal amount thereof, the portion or,
methods of determining the portion, of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

(13) if other than the currency of the United States of America, the currency, currencies or currency units in which the
principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition
of “Outstanding” in Section 1.01; 
 (14) provisions granting special rights to Securityholders upon
the occurrence of specific events; 

  
 9 

 (15) any deletions from, modifications of or additions to the Events of Default
or the Company’s covenants provided for with respect to the Securities of the series; 
 (16) if applicable, that the
Securities of the series, in whole or any specified part, shall be defeasible pursuant to Section 13.02 or Section 13.03 or both such Sections and, if other than by a Board Resolution, the manner in which any election by the Company to
defease such Securities shall be evidenced; 
 (17) whether the Securities will be convertible into shares of common stock or
other securities or property of the Company and, if so, the terms and conditions upon which such Securities will be so convertible, including the conversion price and the conversion period; 

(18) whether the Securities are issuable as a Global Security and, in such case, the identity for the Depositary for such
series and the terms and conditions upon which Global Securities may be exchanged for certificated debt securities; 
 (19)
the forms of the Securities of the series; 
 (20) any special tax implications of the Securities of the series, including
any provisions for Original Issue Discount Securities, if offered; 
 (21) any change in the right of the Trustee or the
requisite Securityholders to declare the principal amount thereof due and payable pursuant to Section 6.01; 
 (22) any
trustees, authenticating or Paying Agents, transfer agents or registrars, calculation agents or other agents with respect to the Securities; 

(23) any restrictions on the registration, transfer or exchange of the Securities; and 

(24) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as
permitted by Section 9.01(10), but which may modify or delete any provision of this Indenture with respect to such series). 
 All
Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any indentures supplemental hereto. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate
record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate of the Company setting forth the terms of the series. 

  
 10 

 Securities of any particular series may be issued at various times, with different dates on which
the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different
redemption dates. 
 Section 2.02 Form of Securities and Trustee’s Certificate. 

The Securities of any series and the Trustee’s or Authenticating Agent’s certificate of authentication to be borne by such Securities
shall be substantially of the tenor and purport as set forth in one or more indentures supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officers’ Certificate of the Company and may have such
letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as
may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that series may be listed, or to conform to usage. 

Section 2.03 Denominations; Provisions for Payment. 

The Securities shall be issuable in fully registered form, without coupons, and in denominations of $2,000 and integral multiples of $1,000 in
excess thereof, subject to Section 2.01(11). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect to that series. Unless otherwise provided pursuant to Section 2.01, the
principal of and the interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender
for public and private debt, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York. Each Security shall be dated the date of its authentication. Interest on the Securities
shall be computed on the basis of a 360-day year composed of twelve 30-day months, except as otherwise specified under Section 2.01 for Securities of any series.

 The interest installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for
Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment. In the event that any Security
of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be
paid upon presentation and surrender of such Security as provided in Section 3.03. 

  
 11 

 Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 2.01, any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder of Securities; and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause
(1) or clause (2) below: 
 (1) The Company may make payment of any Defaulted Interest on Securities to the Persons
in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall
notify the Trustee and the Paying Agent in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Paying Agent an amount of
money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee and the Paying Agent for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more
than 15 nor less than 10 days prior to the date of the proposed payment and not less than 5 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record
date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her
address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed
as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall be no longer payable pursuant to the following clause
(2). 
 (2) The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee and the Paying Agent of the proposed
payment pursuant to this clause, such manner of payment shall be deemed practicable by the Paying Agent. 

  
 12 

 Unless otherwise set forth in a Board Resolution of the Company or one or more indentures
supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof, the term “regular record date” as used in this Section with respect to a series of Securities with respect to any Interest Payment
Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is
the first day of a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day
of a month, whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each Security of a series
delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

Section 2.04 Execution and Authentication. 

The Securities shall be signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, President, or one of its Vice
Presidents, or its Treasurer, or one of its Assistant Treasurers, or its Secretary, or one of its Assistant Secretaries. Signatures may be in the form of a manual or facsimile signature. The Company may use the facsimile signature of any Person who
shall have been a Chief Executive Officer, Chief Financial Officer, President or Vice President thereof, or of any Person who shall have been a Treasurer or Assistant Treasurer, Secretary or Assistant Secretary thereof, notwithstanding the fact that
at the time the Securities shall be authenticated and delivered or disposed of such Person shall have ceased to be the Chief Executive Officer, the Chief Financial Officer, the President or a Vice President, the Treasurer or Assistant Treasurer or
the Secretary or an Assistant Secretary, of the Company. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee or
an Authenticating Agent. 
 A Security shall not be valid until authenticated manually by an authorized signatory of the Trustee or by an
Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the Securityholder is entitled to the benefits of this Indenture. 

  
 13 

 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 or an Authenticating Agent for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by its President
or any Vice President and its Secretary or any Assistant Secretary, and the Trustee or an Authenticating Agent in accordance with such written order shall authenticate and deliver such Securities. 

In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the
Trustee shall be entitled to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel to the effect that the form and terms thereof have been established in conformity with the provisions of this
Indenture. 
 The Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture
will affect the Trustee’s own rights, protections, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

Section 2.05 Registration of Transfer and Exchange. 

(a) Securities of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in
the Borough of Manhattan, the City and State of New York, for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee or an Authenticating Agent shall authenticate and such office or agency shall deliver in exchange
therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 

(b) The Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and
State of New York, or such other location designated by the Company a register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall
register the Securities and the transfers of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The Company may appoint one or more
co-registrars for the purpose of registering Securities and transfer of Securities as herein provided (the “Security Registrar”). The Company initially appoints Citibank, N.A. as the Security
Registrar. 

  
 14 

 Upon surrender for the registration of transfer of any Security at the office or agency of the
Company designated for such purpose, the Company shall execute, the Trustee or an Authenticating Agent shall authenticate and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same
series as the Security presented for a like aggregate principal amount. 
 All Securities presented or surrendered for exchange or
registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar,
duly executed by the registered holder or by such holder’s duly authorized attorney in writing. 
 (c) No service charge shall be made
for any exchange or registration of transfer of Securities, or issue of new Securities in case of partial redemption of any series, but the Company, the Trustee or the Paying Agent may require payment of a sum sufficient to cover any tax or other
governmental charge in relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving any transfer. 

(d) The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the transmittal of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day of such transmittal, nor
(ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption. The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof.

 Section 2.06 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and the Trustee or an Authenticating Agent shall
authenticate and deliver, temporary Securities (printed, lithographed or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive Securities in lieu of which they are issued, but
with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and be authenticated by the Trustee or an
Authenticating Agent upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such
series and thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the Securityholders), at the office or agency of the Company designated for the purpose in the Borough of Manhattan, the
City and State of New York, and the Trustee or an Authenticating Agent shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series,
unless the Company advises the Trustee or an Authenticating 

  
 15 

 
Agent to the effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be
entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder. 

Section 2.07 Mutilated, Destroyed, Lost or Stolen Securities. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the Company’s request, the Trustee or an Authenticating Agent (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the
Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the
destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee or an Authenticating Agent may authenticate any such substituted Security and deliver the same upon the written request or authorization of any
officer of the Company. Upon the issuance of any substituted Security, the Company, the Trustee or the Paying Agent may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a
substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they
may require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 

Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the
Company whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other
Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or
other securities without their surrender. 

  
 16 

 Section 2.08 Cancellation. 

All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or
any Paying Agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be canceled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this
Indenture. On timely written request of the Company at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such written request the Trustee may dispose of canceled
Securities in accordance with its standard procedures and deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction
of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

Section 2.09 Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties
hereto and the holders of Securities any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for the
sole benefit of the parties hereto and holders of Securities. 
 Section 2.10 Authenticating Agent. 

So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of Securities
which the Company or the Trustee shall have the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently
reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is
subject to supervision or examination by federal or state authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

  
 17 

 Any Authenticating Agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon
resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment
hereunder, shall become vested with all the rights, protections, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 

The Company initially appoints Citibank, N.A. to act as an Authenticating Agent. 

Section 2.11 Global Securities. 

(a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global
Security, then the Company shall execute and the Trustee or an Authenticating Agent shall, in accordance with Section 2.04, authenticate and deliver, a Global Security that (i) shall represent, and shall be denominated in an amount
equal to the aggregate principal amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee or the
Authenticating Agent to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend substantially to the following effect: “Except as otherwise provided in Section 2.11 of the Indenture, this
Security may be transferred, in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor Depositary.” 

(b) Notwithstanding the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in
the manner provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary. 

(c) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary
for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the
Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and
subject to Section 2.05, the Trustee or an Authenticating Agent will authenticate (or cause to authenticate) and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an
aggregate principal amount equal to the principal amount of the Global Security of such 

  
 18 

 
series in exchange for such Global Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the
provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and subject to Section 2.05, the Trustee or an Authenticating Agent, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate (or cause to authenticate) and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate
principal amount equal to the principal amount of the Global Security of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such Securities in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall be registered in such names and in such
authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Security Registrar shall deliver such Securities to the Depositary for delivery to the
Persons in whose names such Securities are so registered. 
 Section 2.12 CUSIP Numbers, ISINs, Etc. 

The Company in issuing the Securities may use “CUSIP” numbers, ISINs and “Common Code” numbers (if then generally in use),
and if so, the Trustee may use the CUSIP numbers, ISINs and “Common Code” numbers in notices of redemption or exchange as a convenience to holders of Securities; provided, however, that any such notice may state that no
representation is made as to the correctness or accuracy of such numbers printed in the notice or on the Securities; that reliance may be placed only on the other identification numbers printed on the Securities; and that any redemption shall not be
affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee and the Security Registrar in writing of any change in CUSIP numbers. 

Section 2.13 Calculation Agent 

The Company initially appoints Citibank, N.A. as the Calculation Agent. All calculations made by the Calculation Agent for the purposes of
calculating interest on any series shall be conclusive and binding on the Trustee, the Company, and the registered holders, absent manifest errors. 

  
 19 

 ARTICLE III 

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

Section 3.01 Redemption. 

The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for
such series pursuant to Section 2.01 hereof. 
 Section 3.02 Notice of Redemption. 

(a) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series in
accordance with the right reserved so to do, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed by transmitting a notice of such redemption not less than
30 days and not more than 60 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register unless a shorter period is specified in the Securities to be
redeemed. Any notice that is transmitted in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of
any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee and the Paying Agent with an Officers’
Certificate evidencing compliance with any such restriction. 
 Each such notice of redemption shall specify the date fixed for redemption
and the redemption price at which Securities of that series are to be redeemed, and shall state that payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the Borough of Manhattan,
the City and State of New York, upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, that from and after said date interest will cease to accrue and that
the redemption is for a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in whole or in part shall specify the particular
Securities to be so redeemed. In case any Security is to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption
date, upon surrender of such Security, a new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 

  
 20 

 (b) If less than all the Securities of a series are to be redeemed, the Company shall give the
Trustee and the Paying Agent at least 15 days’ (or such shorter period as the Trustee and the Paying Agent may agree) notice in advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be
redeemed, and thereupon the Trustee shall select, by lot or in such other manner as it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal to $2,000 and any integral multiple of
$1,000 in excess thereof) of the principal amount of such Securities of a denomination larger than $2,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Securities to be redeemed, in
whole or in part. 
 The Company may, if and whenever it shall so elect, instruct the Trustee or any Paying Agent to call all or any part of
the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the Trustee or such Paying Agent may deem advisable. In
any case in which notice of redemption is to be given by the Trustee or any such Paying Agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such Paying Agent, as the case may be, such Security
Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such Paying Agent to give any notice that may be required under the provisions of this Section. 

Section 3.03 Payment upon Redemption. 

(a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series
to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such
Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion
thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, such Securities shall be paid and redeemed at the applicable redemption price for such series,
together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable on such date shall be payable to the registered holder at the close of
business on the applicable record date pursuant to Section 2.03). 
 (b) Upon presentation of any Security of such series that is to be
redeemed in part only, the Company shall execute and the Trustee or the Authenticating Agent shall authenticate and the office or agency where the Security is presented shall deliver to the Securityholder thereof, at the expense of the Company, a
new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented. 

  
 21 

 Section 3.04 Sinking Fund. 

The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series, except as
otherwise specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to
as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be
applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 Section 3.05
Satisfaction of Sinking Fund Payments with Securities. 
 The Company (i) may deliver Outstanding Securities of a series
(other than any Securities previously called for redemption) and (ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant
to the terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee and the Security
Registrar at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

Section 3.06 Redemption of Securities for Sinking Fund. 

Not less than 30 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee and
the Paying Agent an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting
Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 15 days before each such
sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 

  
 22 

 ARTICLE IV 

CERTAIN COVENANTS 

Section 4.01 Payment of Principal, Premium and Interest. 

(a) The Company shall pay or cause to be paid the principal of and premium, if any, and interest on the Securities on or prior to the dates and
in the manner provided in such Securities or pursuant to this Indenture. An installment of principal, premium, if any, or interest shall be considered paid on the applicable due date if on such date the Trustee or the Paying Agent holds, in
accordance with this Indenture, money sufficient to pay all of such installment then due. 
 Section 4.02 Maintenance of Office or
Agency. 
 So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough
of Manhattan, the City and State of New York, with respect to each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (i) Securities of that series may be presented for
payment, (ii) Securities of that series may be presented as hereinabove authorized for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be given or served, such designation to continue with respect to such office or agency until the Company shall, by written notice signed by its President or a Vice President and delivered to the trustee, designate some other
office or agency for such purposes or any of them. 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, notices and demands may be
made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands. 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain
an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office
or agency. 

  
 23 

 Section 4.03 Paying Agents. 

(a) If the Company shall appoint one or more Paying Agents for all or any series of the Securities, other than the Trustee or the initial
Paying Agent, the Company will cause each such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section: 

(1) that it will hold all sums held by it as such agent for the payment of the principal of and premium, if any or interest on
the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons entitled thereto; 

(2) that it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any
payment of the principal of and premium, if any or interest on the Securities of that series when the same shall be due and payable; 

(3) that it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2) above, upon
the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and 
 (4)
that it will perform all other duties of Paying Agent as set forth in this Indenture. 
 The Company initially appoints Citibank, N.A., as
Paying Agent. 
 (b) If the Company shall act as its own Paying Agent with respect to any series of the Securities, it will on or before each
due date of the principal of, and premium, if any, or interest on Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay such principal, and premium, if any, or
interest so becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such
Securities) to take such action. Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal of, and premium, if any, or interest on any Securities of that series,
deposit with the Paying Agent a sum sufficient to pay the principal, and premium, if any, or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such
Paying Agent is the Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 

  
 24 

 (c) Notwithstanding anything in this Section to the contrary, (i) the agreement to
hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (ii) the Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other
purpose, pay, or direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums were held by the Company
or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

(d) Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 2.01, any money or
Government Obligations deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after
such principal, premium or interest has become due and payable shall be paid to the Company at its option at the request of the Company, or (if then held by the Company) shall be discharged from such trust; and the holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon
cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language,
customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days
from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 (e) Upon any
bankruptcy or reorganization proceedings relating to the Company, the Citibank, N.A. will serve as Paying Agent for the Securities. 

Section 4.04 Statement by Officers as to Default. 

The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an
Officers’ Certificate, to the effect that to the best knowledge of the signers thereof (on behalf of the Company) the Company is or is not in default in the performance and observance of any of the terms, provisions and conditions of this
Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

The Company shall, so long as any of the Securities are Outstanding, deliver to a Responsible Officer of the Trustee, within ten Business Days
upon any officer of the Company becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default. 

  
 25 

 Section 4.05 Existence. 

Subject to Article X, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its existence
and its rights and franchises; provided that nothing in this Section 4.05 shall prevent the abandonment or termination of any right or franchise of the Company if, in the opinion of the Company, such abandonment or termination is in the
best interests of the Company and not prejudicial in any material respect to the holders of the Securities. 
 Section 4.06
Limitation on Liens on Stock of AXA Equitable Life Insurance Company and ABLP. 
 Except as otherwise specified with respect to a
series of Securities in accordance with the provisions of Section 2.01, and for so long as any Securities are Outstanding, the Company shall not, and shall not permit any Subsidiary of the Company to, at any time directly or indirectly, create,
assume, incur or guarantee any Indebtedness secured by a Lien on the Capital Stock of AXA Equitable Life or ABLP, of any successor to substantially all of the business of AXA Equitable Life or ABLP that is a direct or indirect Subsidiary of the
Company, or of any Person (other than the Company) having direct or indirect control of AXA Equitable Life or ABLP or any such successor, in each case provided that such Person or successor is a direct or indirect Subsidiary of the Company, without
making effective provision whereby the Securities then Outstanding (and, if the Company so elects, any other Indebtedness of the Company that is not subordinate to the Securities and with respect to which the governing instruments require, or
pursuant to which the Company is otherwise obligated or required, to provide such security) shall be secured equally and ratably with (or prior to) such secured Indebtedness so long as such other Indebtedness shall be secured. 

If the Company shall hereafter be required to secure the Securities equally and ratably with (or prior to) any other Indebtedness pursuant to
this Section, (i) the Company will promptly deliver to the Trustee an Officers’ Certificate to the effect that the foregoing covenant has been complied with and an Opinion of Counsel to the effect that in the opinion of such counsel
the foregoing covenant has been complied with and that any instruments executed by the Company or any Subsidiary of the Company in the performance of the foregoing covenant comply with the requirements of the foregoing covenant and
(ii) the Trustee is hereby authorized to enter into an indenture or agreement supplemental hereto and to take such action, if any, as it may deem advisable to enable it to enforce the rights of the Securityholders of the Securities so
secured. 

  
 26 

 Section 4.07 Limitations on Disposition of Stock of Certain Subsidiaries. 

(a) Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 2.01 and except in a
transaction governed by Article X of this Indenture, so long as any Securities are Outstanding, the Company shall not, and shall not permit any Subsidiary of the Company to sell or otherwise dispose of any shares of Capital Stock (other than
Preferred Stock having no voting rights of any kind) of (i) AXA Equitable Life or ABLP, (ii) any successor to substantially all of the business of AXA Equitable Life or ABLP, that is also a direct or indirect Subsidiary of
the Company, or (iii) any Person (other than the Company) having direct or indirect control of AXA Equitable Life or ABLP or any such successor. 

(b) Notwithstanding the forgoing, Section 4.07(a) shall not apply to (i) a sale or other disposition of any shares of such
Capital Stock to the Company or to one of its direct or indirect wholly-owned Subsidiaries, (ii) a sale or other disposition of any shares of such Capital Stock for at least fair market value (as determined by the board of directors of
the Person effecting such sale or disposition, acting in good faith), or (iii) a sale or other disposition required to comply with an order of a court or regulatory authority of competent jurisdiction, other than an order issued at the
Company’s request or the request of any of its Subsidiaries. 
 Section 4.08 Waiver of Certain Covenants. 

Except as otherwise specified as contemplated by Section 2.01 for Securities of such series, the Company may, with respect to the
Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Sections 2.01(a)(15), 9.01(4) or 9.01(7) for the benefit of the holder of such series or in any
of Sections 4.06 and 4.07, if before the time for such compliance the holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by act of such holders, either waive such compliance in such
instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

Section 4.09 Appointment to Fill Vacancy in Office of Trustee. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10,
a Trustee, so that there shall at all times be a Trustee hereunder. 

  
 27 

 ARTICLE V 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.01 Company to Furnish Trustee with Names and Addresses of Securityholders. 

The Company will furnish or cause to be furnished to the Trustee and the Security Registrar (a) on a semi-annual basis not more
than 10 days after each regular record date a list, in such form as the Trustee or the Security Registrar may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record date; provided
that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee and the Security Registrar by the Company; and
(b) at such other times as the Trustee or the Security Registrar may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is furnished; provided, however, that, in either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar. 

Section 5.02 Preservation of Information; Communications with Securityholders. 

(a) The Trustee and the Security Registrar shall preserve, in as current a form as is reasonably practicable, all information as to the names
and addresses of the Securityholders contained in the most recent list furnished to them as provided in Section 5.01 and as to the names and addresses of Securityholders received by the Trustee or the Security Registrar. 

(b) The Trustee and the Security Registrar may destroy any list furnished to them as provided in Section 5.01 upon receipt of a new list
so furnished. 
 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders
with respect to their rights under this Indenture or under the Securities. 
 (d) Every Securityholder, by receiving and holding the same,
agrees with the Company, the Trustee and the Security Registrar that neither the Company, nor the Trustee, nor the Security Registrar, nor any agent of any of them, shall be held accountable by reason of any disclosure of information as to names and
addresses of Securityholders made pursuant to the Trust Indenture Act. 

  
 28 

 Section 5.03 Reports by the Company. 

Following the qualification of this Indenture under the Trust Indenture Act, the Company shall comply with the provisions of
Section 314(a) of the Trust Indenture Act. Delivery of such reports, documents and information to the Trustee is for informational purposes only, and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). The Trustee shall not
be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the terms of this Article V or the posting of any reports, documents and information on the EDGAR system or any website. 

Section 5.04 Reports by the Trustee. 

(a) On or before July 15 in each year in which any of the Securities are Outstanding, the Trustee shall transmit to the Securityholders,
as their names and addresses appear upon the Security Register, a brief report dated as of the preceding May 15, if and to the extent required under Section 313(a) of the Trust Indenture Act. 

(b) The Trustee shall comply with Sections 313(b) and 313(c) of the Trust Indenture Act. 

(c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with each
stock exchange upon which any Securities are listed (if so listed) and also with the Commission. 
 ARTICLE VI 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 

Section 6.01 Events of Default. 

(a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the
following events that has occurred and is continuing, unless such event is specifically deleted or modified in accordance with Section 2.01: 

(1) the Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when
the same shall become due and payable, and continuance of such default for a period of 30 days; 

  
 29 

 (2) the Company defaults in the payment of the principal of, or premium, if any,
on any of the Securities of that series as and when the same shall become due and payable whether at maturity, upon redemption, because of acceleration or otherwise, or in any payment required by any sinking or analogous fund established with
respect to that series; provided, however, that a valid extension of the maturity of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment of principal or
premium, if any; provided further, that no Event of Default shall occur if the failure to make payment when due and payable results solely from nonpayment by reason of mistake, oversight or transfer difficulties and does not continue beyond
three Business Days; 
 (3) the Company fails to observe or perform any other of its covenants or agreements with respect to
that series contained in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the
benefit of one or more series of Securities other than such series) for a period of 90 days after the date on which written notice of such failure, requiring the same to be remedied and to the effect that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by registered or certified United States mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at
the time Outstanding; 
 (4) an event of default, as defined in any mortgage, indenture or instrument under which there may
be issued, or by which there may be secured or evidenced, any Indebtedness for money borrowed of the Company (other than a default under this Indenture with respect to Securities of any series or a default with respect to any non-recourse Indebtedness), whether such Indebtedness now exists or shall hereafter be created, shall happen and shall result in a principal amount in excess of $100,000,000 of Indebtedness becoming or being
declared due and payable prior to the date on which it would otherwise have become due and payable, and such acceleration shall not have been rescinded or annulled, or such Indebtedness shall not have been discharged, within a period of 15 days
after there has been given, by registered or certified United States mail, to the Company by the Trustee or to the Company and the Trustee by the holders of at least 25% in aggregate principal amount of the Outstanding Securities of that series a
written notice specifying such event of default and requiring the Company to cause such acceleration to be rescinded or annulled or to cause such Indebtedness to be discharged and to the effect that such notice is a “Notice of
Default” hereunder; 

  
 30 

 (5) the entry by a court of competent jurisdiction of: 

(i) a decree or order for relief in respect of the Company in an involuntary proceeding under any applicable Bankruptcy Law and
such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; 
 (ii) a decree or order
adjudging the Company to be insolvent, or approving a petition seeking reorganization, arrangement, adjustment or composition of the Company and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(iii) a final and non-appealable order appointing a Custodian of the Company or of any
substantial part of the property of the Company, or ordering the winding up or liquidation of the affairs of the Company; 

(6) the Company pursuant to or within the meaning of any Bankruptcy Law: (i) commences a voluntary case or
proceeding; (ii) consents to the entry of an order for relief against it in an involuntary case or proceeding; (iii) files a petition or answer or consent seeking reorganization or relief or consents to such filing or to the
appointment of or taking possession by a Custodian of it or for all or substantially all of its property, and such Custodian is not discharged within 60 days; (iv) makes a general assignment for the benefit of its creditors; or
(v) admits in writing its inability to pay its debts generally as they become due; or 
 (7) any other Event of
Default provided for pursuant to Section 2.01 with respect to Securities of that series. 
 (b) The Trustee shall, within 90 days after
the occurrence of a Default (of which it has received written notice and which is continuing) with respect to the Securities of any series (without regard to any grace period or notice requirements), to give to the Securityholders of the Securities
of such series notice of such Default; provided, however, that, except in the case of a Default in the payment of the principal of (and premium, if any) or interest on any Securities, the Trustee shall be protected in withholding such
notice if it in good faith determines that the withholding of such notice is in the interests of the Securityholders of the Securities of such series. 

(c) Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 2.01, if an Event of
Default (other than an Event of Default specified in Sections 6.01(a)(5) or 6.01(a)(6)) with respect to Securities of any series at the time Outstanding occurs and is continuing, either the Trustee or the Securityholders of not less than 25% in
aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the principal of all the Securities

  
 31 

 
of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of such series) to be due and
payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in Sections 6.01(a)(5) or 6.01(a)(6) with respect to Securities of any series at the time Outstanding
occurs, the principal amount of all the Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) shall
automatically, and without any declaration or other action on the part of the Trustee or any Securityholder, become immediately due and payable. 

(d) At any time after the principal of the Securities of that series shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Securityholders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to
the Company, the Trustee and the Paying Agent may rescind and annul such declaration and its consequences if: (i) the Company has paid or deposited with the Trustee or Paying Agent a sum sufficient to pay all matured installments of
interest upon all the Securities of that series and the principal of, and premium, if any, on any and all Securities of that series that shall have become due otherwise than by acceleration (with interest upon such principal and premium, if any,
and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate per annum or Yield to Maturity (in the case of Original Issue Discount Securities) expressed in the Securities of that
series (or at the respective rates of interest or Yields to Maturity of all the Securities, as the case may be) to the date of such payment or deposit) and the amount payable to the Trustee under Section 7.06, and (ii) any and all
Events of Default under the Indenture with respect to such series, other than the nonpayment of principal on Securities of that series (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount
as may be specified in the terms of such series) that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.09. 

No such rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 

(e) In case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such
proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, and the Trustee shall be restored
respectively to their former positions and rights hereunder, and all rights, protections, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken. 

  
 32 

 Section 6.02 Collection of Indebtedness and Suits for Enforcement by Trustee. 

(a) The Company covenants that (1) in case it shall default in the payment of any installment of interest on any of the Securities
of a series as and when the same shall have become due and payable, and such default shall have continued for a period of 30 days, or (2) in case it shall default in the payment of the principal of, or premium, if any, on any of the
Securities of a series when the same shall have become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise, then, upon demand of the Trustee, the Company will pay to the Trustee,
for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such Securities for principal, and premium, if any, or interest, or both, as the case may be, with interest
upon the overdue principal, and premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of that series; and, in
addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under Section 7.06. 

(b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust,
shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such
judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or other obligor upon the
Securities of that series, wherever situated. 
 (c) In case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the court and
shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of such series
allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to collect and receive
any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee and Agents under Section 7.06; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to the Trustee and Agents, and, in the event that the Trustee and Agents shall consent to the making of such payments directly to such
Securityholders, to pay to the Trustee and Agents any amount due it under Section 7.06. 

  
 33 

 (d) All rights of action and of asserting claims under this Indenture, or under any of the terms
established with respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or proceeding
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the
holders of the Securities of such series. 
 In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect
and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for
the specific enforcement of any covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any
such proceeding. 
 Section 6.03 Application of Moneys Collected. 

Any moneys collected by the Trustee pursuant to this Article with respect to a particular series of Securities shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal, or premium, if any, or interest, upon presentation of the Securities of that series, and notation thereon the
payment, if only partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and expenses of
collection and of all amounts payable to the Trustee and the Agents under Section 7.06; 
 SECOND: To the payment of the
amounts then due and unpaid upon Securities of such series for principal, and premium, if any, and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind,
according to the amounts due and payable on such Securities for principal, and premium, if any, and interest, respectively and 

  
 34 

 THIRD: To the payment of the remainder, if any, to the Company, its successors or
assigns or to whomever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 
 Section 6.04
Limitation on Suits. 
 No holder of any Security of any series shall have any right by virtue or by availing of any provision of this
Indenture to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder
previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; (ii) the holders of
not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder;
(iii) such holder or holders shall have offered to the Trustee such indemnity satisfactory to it as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee for
60 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or proceeding; and (v) during such 60 day period, the holders of a majority in principal amount of the
Securities of that series do not give the Trustee a direction inconsistent with the request. 
 Section 6.05 Unconditional Right of
Securityholders to Receive Principal and Interest. 
 Notwithstanding any other provision of this Indenture, the right of any
Securityholder to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security, or to institute suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected without the consent of such Securityholder. 

Section 6.06 Rights and Remedies Cumulative; Delay or Omission Not Waiver. 

(a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the Securityholders, by judicial proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 

  
 35 

 (b) No delay or omission of the Trustee or of any Securityholder to exercise any right or power
accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of any such default or on acquiescence therein; and, subject to the provisions of Section 6.04
or Section 6.05, every power and remedy given by this Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

Section 6.07 Control by Securityholders. 

The Securityholders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in
accordance with Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series;
provided, however, that such direction shall not be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights of Securityholders of any other series at the time Outstanding determined in accordance
with Section 8.04. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that
the proceeding so directed would involve the Trustee in personal liability. 
 Section 6.08 Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of Securities by such holder’s acceptance thereof shall be deemed to have agreed,
that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good
faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than 10%
in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of, or premium, if any, or interest on any Security of such series, on or
after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 Section 6.09 Waiver of Past
Defaults. 
 Subject to Section 6.01(d), the Securityholders of not less than a majority in principal amount of the Outstanding
Securities of any series, determined in accordance with Section 8.04, may on behalf of the Securityholders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default

  
 36 

 (1) in the payment of the principal of or any premium or interest on any Security
of such series, or 
 (2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended
without the consent of the Securityholder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall
cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

ARTICLE VII 
 CONCERNING
THE TRUSTEE 
 Section 7.01 Certain Duties and Responsibilities of Trustee. 

(a) The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events
of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no
implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities
of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs.

 (b) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that: 
 (1) prior to the occurrence of an Event of Default
with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred: 

(a) the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 

  
 37 

 (b) in the absence of bad faith on the part of the Trustee, the Trustee may with
respect to the Securities of such series conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture; 
 (2) the Trustee shall not be liable for any error of judgment made in good
faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the Securityholders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and 

(4) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it
under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 
 Section 7.02 Certain
Rights of Trustee. 
 Except as otherwise provided in Section 7.01: 

(a) The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b) Any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board
Resolution or an instrument signed in the name of the Company, by the President or any Vice President and by the Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer thereof (unless other evidence in respect thereof is
specifically prescribed herein); 

  
 38 

 (c) The Trustee may consult with counsel, investment bankers, accountants or
other professionals and the written advice of such counsel, investment bankers, accountants or other professionals or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or
omitted hereunder in good faith and in reliance thereon; 
 (d) The Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities that may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default with respect to a
series of the Securities (that has not been cured or waived) to exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct of his or her own affairs; 
 (e) The Trustee
shall not be liable for any action taken or omitted to be taken 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; 

(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested in writing so to do by the Securityholders of not less than a majority in principal amount of the
Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely
to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity satisfactory to it
against such costs, expenses or liabilities as a condition to so proceeding. The expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; and 

 

  
 39 

 (g) The Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

(h) Whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a
matter be proved or established prior to taking or suffering any action to be taken hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or bad faith on the part
of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate and delivered to the Trustee and such Officers’ Certificate, in the absence of gross negligence or bad faith on the part of the Trustee, shall
be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 

(i) 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 that are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances. 
 Section 7.03 Trustee Not Responsible for
Recitals or Issuance or Securities. 
 (a) The recitals contained herein and in the Securities shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the same. 
 (b) The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Securities. 
 (c) The Trustee shall not be accountable for the use or application by the
Company of any of the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the
use or application of any moneys received by any Paying Agent other than the Trustee. 
 Section 7.04 May Hold Securities. 

The Trustee or any Paying Agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities
with the same rights it would have if it were not Trustee, Paying Agent or Security Registrar. 

  
 40 

 Section 7.05 Moneys Held in Trust. 

Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in
trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may
agree with the Company to pay thereon. 
 Section 7.06 Compensation and Reimbursement. 

(a) The Company covenants and agrees to pay to the Trustee and the Agents, and the Trustee and the Agents shall be entitled to, such reasonable
compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company, and the Trustee or the Agents may from time to time agree in writing, for all services rendered by it
in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee or the Agents, and, except as otherwise expressly provided herein, the Company will pay or reimburse the
Trustee and the Agents upon their request for all reasonable expenses, disbursements and advances incurred or made by the Trustee or the Agents in accordance with any of the provisions of this Indenture (including the reasonable compensation and the
expenses and disbursements of their counsel and of all Persons not regularly in their employ) except any such expense, disbursement or advance as may arise directly from their negligence, willful misconduct or bad faith. The Company also covenants
to indemnify the Trustee and the Agents (and their officers, agents, directors and employees) for, and to hold them harmless against, any and all claims, obligation, losses, liabilities, damages, injuries, penalties, stamp or other similar taxes,
actions, suits, judgment, reasonable costs and expenses (including reasonable attorneys’ fees and agents’ fees and expenses) of whatever kind or nature regardless of their merit, demanded, asserted, or claimed against the Trustee (whether
asserted by any Securitiyholder, the Company or otherwise) directly or indirectly related to, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending themselves against any
claim of liability in the premises, reasonable attorneys’ and consultants’ fees and expenses and court costs, enforcing this Indenture (including this Section 7.06) and of defending themselves against any claims except to the extent
caused directly by the Trustee’s or Agents’ negligence, willful misconduct or bad faith. The obligations of the Company under this Section 7.06(a) shall survive the satisfaction and discharge of this Indenture and the earlier
resignation or removal of the Trustee or an Agent. 
 (b) The obligations of the Company under this Section to compensate and indemnify the
Trustee and Agents and to pay or reimburse the Trustee and Agents for expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by a lien prior to that of the Securities
upon all property and funds held or collected by the Trustee or Agents as such, except funds held in trust for the benefit of the Securityholders of particular Securities. 

  
 41 

 (c) Without prejudice to any other rights available to the Trustee or the Agents under applicable
law, when the Trustee or the Agents incur expenses or render services after an Event of Default specified in Section 6.01(a)(5) or Section 6.01(a)(6) occurs, the expenses and the compensation for the services are intended to constitute
expenses of administration under any bankruptcy, insolvency or similar laws. 
 Section 7.07 Reliance on
Officers’ Certificate. 
 Except as otherwise provided in Section 7.01, whenever in the administration of the
provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be
herein specifically prescribed) may, in the absence of negligence, willful misconduct or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence, willful misconduct or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the
faith thereof. 
 Section 7.08 Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act,
the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 

Section 7.09 Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and
doing business under the laws of the United States of America or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under such laws to exercise
corporate trust powers, having a combined capital and surplus of at least $50,000,000, and subject to supervision or examination by federal, state, territorial, or District of Columbia authority. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In case at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 

  
 42 

 Section 7.10 Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series by giving
written notice thereof to the Company and by transmitting notice of resignation to the Securityholders of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation, the Company shall
promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to
the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the transmitting of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and
all others similarly situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any one of the following shall occur: 

(1) the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or
by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (2) the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company or by any such Securityholder; or 

(3) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary
bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation; 
 then, in any such case, (i) the Company may remove the Trustee with respect to all Securities and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or (ii) unless the
Trustee’s duty to resign is stayed as provided herein, any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that 

  
 43 

 
Securityholder and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee. Such court may thereupon
after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 
 (c) The
Securityholders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a
successor Trustee for such series with the consent of the Company. 
 (d) Any resignation or removal of the Trustee and appointment of a
successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(e) Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all of
such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 
 Section 7.11
Acceptance of Appointment By Successor. 
 (a) In case of the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such
retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
trustee all property and money held by such retiring Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor trustee
with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein
each successor trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (2) shall contain such provisions as shall be deemed necessary or desirable to confirm that
all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in

  
 44 

 
the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be
trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder;
and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those
series to which the appointment of such successor trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture, and each such
successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such
successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture, the property and
money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee relates. 

(c) Upon request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and
confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and
eligible under this Article. 
 (e) Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall
transmit notice of the succession of such trustee hereunder to the Securityholders, as their names and addresses appear upon the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 
 Section 7.12
Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor
of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of 

  
 45 

 
Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein
to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

Section 7.13 Preferential Collection of Claims against the Company. 

The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

Section 7.14 Agents. 

The rights, protections, immunities and indemnities afforded to the Trustee under this Indenture shall also be afforded to each Agent
hereunder; provided (i) an Agent shall only be liable to extent of its gross negligence, willful misconduct or bad faith; and (ii) in and during an Event of Default, only the Trustee, and not any Agent, shall be subject to the
prudent person standard. 
 ARTICLE VIII 

CONCERNING THE SECURITYHOLDERS 

Section 8.01 Evidence of Action by Securityholders. 

Whenever in this Indenture it is provided that the holders of Securities of a majority or specified percentage in aggregate principal amount of
the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders
of Securities of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of substantially similar tenor executed by such holders of Securities of that series in Person
or by agent or proxy appointed in writing. 
 If the Company shall solicit from the Securityholders of any series any request, demand,
authorization, direction, notice, consent, waiver or other action, the Company may, at its option fix in advance a record date for such series for the determination of Securityholders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, 

  
 46 

 
consent, waiver or other action may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be
Securityholders for the purposes of determining whether Securityholders of the requisite proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent,
waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new
record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this
paragraph shall be construed to render ineffective any action taken by Securityholders of the requisite principal amount of Outstanding Securities on the date such action is taken. 

Section 8.02 Proof of Execution by Securityholders. 

Subject to the provisions of Section 8.01, proof of the execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 

(a) The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable
to the Trustee. 
 (b) The ownership of Securities shall be proved by the Security Register of such Securities or by a
certificate of the Security Registrar thereof. 
 (c) The Trustee may require such additional proof of any matter referred to
in this Section as it shall deem necessary. 
 Section 8.03 Who May be Deemed Owners. 

Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, the Paying Agent and the Security
Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership
or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes;
and neither the Company nor the Trustee nor the Paying Agent nor the Security Registrar shall be affected by any notice to the contrary. 

  
 47 

 Section 8.04 Certain Securities Owned by Company Disregarded. 

In determining whether the Securityholders of the requisite aggregate principal amount of Securities of a particular series have concurred in
any direction, consent of waiver under this Indenture, the Securities of that series that are not Outstanding shall be disregarded for the purpose of any such determination. In case of a dispute as to such right, any decision by the Trustee taken
upon the advice of counsel shall be full protection to the Trustee. 
 Section 8.05 Actions Binding on Future Securityholders.

 At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be
included in the Securities the holders of which have consented to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as
aforesaid any such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer
thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular
series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 

ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 9.01 Supplemental Indentures without the Consent of Securityholders. 

In addition to any supplemental indenture otherwise authorized by this Indenture, the Company and the Trustee may from time to time and at any
time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following purposes: 

(1) to cure any ambiguity, mistake, omission, defect or inconsistency herein or in the Securities of any series; 

(2) to comply with Article X; 

  
 48 

 (3) to provide for uncertificated Securities in addition to or in place of
certificated Securities; 
 (4) to add to the covenants of the Company for the benefit of the holders of all or any series of
Securities (and if such covenants are to be for the benefit of less than all series of Securities, to the effect that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein
conferred upon the Company; 
 (5) to add to, delete from, or revise the conditions, limitations, and restrictions on the
authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth; 
 (6) to
make any change that does not materially adversely affect the rights of any Securityholder, provided that any change to the terms of the Indenture or to a series of Securities made solely to conform to the description of such series of Securities in
an offering document, prospectus supplement or other similar offering document relating to the initial offering of such series of Securities shall be deemed to not materially adversely affect the rights of the Securityholders of such series; 

(7) to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the Securityholders of any series of Securities; 

(8) to add any additional Events of Default for the benefit of the Securityholders of all or any series of Securities (and if
such additional Events of Default are to be for the benefit of less than all series of Securities, to the effect that such additional Events of Default are expressly being included solely for the benefit of such series); 

(9) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate
the issuance of Securities in uncertificated form; 
 (10) to add to, change or eliminate any of the provisions of this
Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Securityholder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security
Outstanding; 

  
 49 

 (11) to secure the Securities; or 

(12) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities
of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of
Section 7.11. 
 The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, and to
make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, protections, duties or
immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this Section may be executed by
the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

Section 9.02 Supplemental Indentures with Consent of Securityholders. 

With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the
Securities of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform
to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any
manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security
then Outstanding and affected thereby: 
 (i) extend the fixed maturity of any Securities of any series, or reduce the
principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof; 

(ii) reduce the amount of principal of an Original Issue Discount Security or any other Security payable upon acceleration of
the maturity thereof pursuant to Section 6.01(c); 
 (iii) change the obligation of the Company to maintain an office or
agency and for the purposes specified in this Indenture; 

  
 50 

 (iv) change the currency in which any Security or any premium or interest is
payable; 
 (v) impair the right to enforce any payment on or with respect to any Security; 

(vi) adversely change the right to convert or exchange, including decreasing the conversion rate or increasing the conversion
price of, such Security (if applicable); 
 (vii) reduce the percentage in principal amount of outstanding Securities of any
series, the consent of whose Securityholders is required for modification or amendment of this Indenture or for waiver of compliance with certain provisions of this Indenture or for waiver of certain defaults; 

(viii) reduce the requirements contained in this Indenture for the consent of holders of the Notes of any series; or 

(ix) modify any of the above provisions. 

It shall not be necessary for the consent of the Securityholders of any series affected thereby under this Section 9.02 to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Section 9.03 Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Article X, this Indenture shall, with respect
to such series, be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the holders of Securities
of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed
to be part of the terms and conditions of this Indenture for any and all purposes. 
 Section 9.04 Securities Affected by
Supplemental Indentures. 
 Securities of any series, affected by a supplemental indenture, authenticated and delivered after the
execution of such supplemental indenture pursuant to the provisions of this Article or of Article X, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon which such series may

  
 51 

 
be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform to any modification of this
Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee or the Authenticating Agent and delivered in exchange for the Securities of that series then Outstanding. 

Section 9.05 Execution of Supplemental Indentures. 

Upon the request of the Company, and upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto
as aforesaid, the Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, protections, duties or immunities under this Indenture or otherwise, in
which case the Trustee may, in its discretion, but shall not be obligated to, enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, shall receive an Opinion of Counsel (in addition to the documents
required under Section 14.07 hereunder) as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms to, the terms of this Article and that it is proper for the Trustee
under the provisions of this Article to join in the execution thereof; provided, however, that such Opinion of Counsel need not be provided in connection with the execution of a supplemental indenture that establishes the terms of a
series of Securities pursuant to Section 2.01 hereof. 
 Promptly after the execution by the Company and the Trustee of any
supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series affected thereby as their names
and addresses appear upon the Security Register. Any failure of the Trustee to transmit such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

ARTICLE X 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 10.01 When the Company May Consolidate, Merge, Etc. 

The Company may not (a) merge with or into or consolidate with another Person, or (b) convey, lease or otherwise
transfer all or substantially all of its assets to any Person other than to a direct or indirect wholly-owned subsidiary of the Company, and no Person may merge with or into or consolidate with the Company, in each case unless: 

(a) the Company is the surviving Person, or the Person formed by or surviving such merger or consolidation or to which such
conveyance, lease or 

  
 52 

 
transfer shall have been made (the “Successor”), if other than the Company, 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 indenture supplemental hereto, executed and delivered to the Trustee, all the obligations of the Company under the Securities and this Indenture; 

(b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;
and 
 (c) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each to the effect
that such supplemental indenture complies with this Indenture. 
 This Section 10.01 shall not prohibit (i) the direct or
indirect conveyance or transfer of all or any portion of the capital stock, assets or liabilities of any of the Company’s direct or indirect wholly-owned Subsidiaries to the Company or any of its direct or indirect wholly-owned Subsidiaries or
(ii) the consolidation or merger of any of the Company’s direct or indirect wholly-owned Subsidiaries (including AXA Financial, Inc.) with and into the Company. 

The Successor will be the successor to the Company, and will succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture and become the obligor on the Securities with the same effect as if the Successor had been named as the Company herein, and thereafter the predecessor Company shall be relieved of all of its obligations and covenants
under this Indenture, but, in the case of a lease of all or substantially all of the assets of the Company, the predecessor Company will not be released from its obligations to pay the principal of, premium, if any, and interest on the Securities.

 ARTICLE XI 

SATISFACTION AND DISCHARGE 

Section 11.01 Satisfaction and Discharge of Indenture. 

If at any time: (a) the Company shall have delivered to the Trustee for cancellation all Securities of a series theretofore
authenticated (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities for whose payment money or Governmental Obligations have theretofore
been deposited in trust or segregated and held in trust by the Company (and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b) all such Securities of a particular series not
theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption 

  
 53 

 
within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with the Trustee as trust funds the
entire amount in moneys or Governmental Obligations sufficient, without reinvestment, or a combination thereof, sufficient in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal, and premium, if any, and interest due or to become due to such date of
maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with respect to such series by the Company then this Indenture shall thereupon cease to be of further
effect with respect to such series except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall
survive to such date and thereafter, and the Trustee, on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

Section 11.02 Discharge of Obligations. 

If at any time all such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due
and payable as described in Section 11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds money in U.S. dollars sufficient or an amount of non-callable
Governmental Obligations, the principal of and interest on which when due, will be sufficient, without reinvestment, or a combination thereof, sufficient in the opinion of a nationally recognized firm of independent accountants expressed in a
written certification thereof delivered to the Trustee, to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal, and premium, if any, and interest due or
to become due to such date of maturity or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company with respect to such series, then after the date such
moneys or Governmental Obligations, as the case may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease to be of further effect except for the provisions of Sections 2.03,
2.05, 2.07, 4.01, 4.02, 4.03, 7.06, 7.10 and 11.05 hereof that shall survive until such Securities shall mature and be paid. Thereafter, Sections 7.06 and 11.05 shall survive. 

Section 11.03 Deposited Moneys to be Held in Trust. 

All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be
available for payment as due, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the Securityholders of the particular series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee. 

  
 54 

 Section 11.04 Payment of Moneys Held by Paying Agents. 

In connection with the satisfaction and discharge of this Indenture all moneys or Governmental Obligations then held by any Paying Agent under
the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such Paying Agent shall be released from all further liability with respect to such moneys or Governmental Obligations. 

Section 11.05 Repayment to Company. 

Any moneys or Governmental Obligations deposited with any Paying Agent or the Trustee, or then held by the Company, in trust for payment of
principal of or premium or interest on the Securities of a particular series that are not applied but remain unclaimed by the Securityholders of such Securities for at least two years after the date upon which the principal of, and premium, if any,
or interest on such Securities shall have respectively become due and payable, shall be repaid to the Company on May 31 of each year or (if then held by the Company) shall be discharged from such trust; and thereupon the Paying Agent and the
Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the Securityholder of any of the Securities entitled to receive such payment shall thereafter, as an unsecured general creditor, look
only to the Company for the payment thereof. 
 ARTICLE XII 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

Section 12.01 No Recourse. 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or
otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or
successor corporation, or any of them, because of the creation of the indebtedness hereby 

  
 55 

 
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of
the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issuance of such Securities. 
 ARTICLE XIII 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 13.01 Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option at any time, to have Section 13.02 or Section 13.03 applied to any Securities or any series of
Securities, as the case may be, designated pursuant to Section 2.01 as being defeasible pursuant to such Sections 13.02 or 13.03, in accordance with any applicable requirements provided pursuant to Section 2.01 and upon compliance with the
conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 2.01 for such Securities. 

Section 13.02 Defeasance and Discharge. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case
may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called
“Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such
Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated
or discharged hereunder: (1) the rights of Securityholders to receive, solely from the trust fund described in Section 13.04 and as more fully set forth in such Section, payments in respect of the principal of and any premium and
interest on such Securities when payments are due, (2) the Company’s obligations with respect to such Securities under Sections 2.05, 2.06, 2.07, 4.01, 4.02 and 4.03, (3) the rights, protections, powers, trusts, duties
and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to any Securities notwithstanding the prior exercise of its
option (if any) to have Section 13.03 applied to such Securities. 

  
 56 

 Section 13.03 Covenant Defeasance. 

Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case
may be, (1) the Company shall be released from its obligations under Article X, Sections 4.06 and 4.07, and any covenants provided pursuant to Sections 2.01(a)(15), 9.01(4) or 9.01(7) for the benefit of the holders of such Securities and
(2) the occurrence of any event specified in Sections 6.01(a)(3) (with respect to any of Article X, Sections 4.06 and 4.07, and any such covenants provided pursuant to Sections 2.01(a)(15), 9.01(4) or 9.01(7) and 6.01(a)(7)) shall
be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 13.04 are satisfied (hereinafter called “Covenant
Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such
specified Section (to the extent so specified in the case of Section 6.01(a)(3)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 

Section 13.04 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 13.02 or Section 13.03 to any Securities or any series of
Securities, as the case may be: 
 (1) The Company shall irrevocably have deposited or caused to be deposited with the
Trustee or Paying Agent (or another trustee which satisfies the requirements contemplated by Section 7.09 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefits of the holders of such Securities, (A) money in an amount, or (B) Governmental Obligations which through the scheduled payment of principal
and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient, without reinvestment, in
the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying
trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. 

  
 57 

 (2) In the event of an election to have Section 13.02 apply to any
Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that (A) the Company has received from, or there has been published by, the Internal Revenue
Service a ruling or (B) since the date of this Indenture, there has been a change in the applicable federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the holders
of such Securities will not recognize gain or loss for federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to federal income tax on the same amount, in
the same manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3) In the event of an election to have Section 13.03 apply to any Securities or any series of Securities, as the case may
be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the holders of such Securities will not recognize gain or loss for federal income tax purposes as a result of the deposit and Covenant Defeasance to be
effected with respect to such Securities and will be subject to federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that it has been informed by
the relevant securities exchange(s) that neither such Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 

(5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such
Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections 6.01(a)(5) and 6.01(a)(6), at any time on or prior to the 90th day after the date of such
deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 
 (6) Such
Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any indenture or other agreement or instrument for borrowed money, pursuant to which in excess of $100,000,000 principal amount is then
outstanding, to which the Company is a party or by which it is bound. 
 (7) The Company shall have delivered to the Trustee
an Officers’ Certificate and an Opinion of Counsel, each to the effect that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

  
 58 

 Section 13.05 Deposited Money and Government Obligations to Be Held in Trust;
Miscellaneous Provisions. 
 Subject to the provisions of Section 4.03(d), all money and Governmental Obligations (including the
proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 13.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to
Section 13.04 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any such Paying Agent (including
the Company acting as its own Paying Agent) as the Trustee may determine, to the holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so held in trust need not be
segregated from other funds except to the extent required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against the Governmental Obligations deposited pursuant to Section 13.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account
of the holders of Outstanding Securities. 
 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon request of the Company any money or Governmental Obligations held by it as provided in Section 13.04 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to
such Securities. 
 Section 13.06 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released pursuant
to Sections 13.02 or 13.03 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust
pursuant to Section 13.05 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the holders of such Securities to receive such payment from the money so held in trust. 

  
 59 

 ARTICLE XIV 

MISCELLANEOUS PROVISIONS 

Section 14.01 Effect on Successors and Assigns. 

All the covenants and agreements in this Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so
expressed or not. 
 Section 14.02 Actions by Successor. 

Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of
the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the successor of the Company. 

Section 14.03 Notices. 

Except as otherwise expressly provided herein, any notice or demand that by any provision of this Indenture is required or permitted to be
given or served by the Trustee or by the holders of Securities to or on the Company may be given or served by being deposited first class postage prepaid in a post-office letterbox addressed (until another address is filed in writing by the Company
with the Trustee), as follows: AXA Equitable Holdings, Inc., 1290 Avenue of the Americas, New York, New York 10104, Attention: Treasurer, with copies of any notice of an Event of Default to the attention of the General Counsel at the same address.
Any notice, election, request or demand by the Company or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee.
Any notice, election, request or demand by the Company or any Securityholder to or upon the Paying Agent or Security Registrar shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at Citibank, N.A.
388 Greenwich Street, 6th Floor, New York, NY 10013, Attention: AXA Equitable Holdings, Inc. 

The Trustee shall have the right to accept and act upon instructions or directions pursuant to this Indenture sent in the form of a manually
signed document by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that the Company shall provide to the Trustee an incumbency
certificate listing designated persons with the authority to provide such instructions and containing specimen signatures of such designated persons, which incumbency certificate shall be amended whenever a person is to be added or deleted from the
listing. If the Company 

  
 60 

 
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 that such instructions conflict or are inconsistent with a subsequent written instruction. The Company 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. 

Where this Indenture provides for notice to holders of Securities of any event, such notice shall be sufficiently given (unless otherwise
herein expressly provided) if in writing and mailed, first-class postage prepaid, to each such holder affected by such event, at his address as it appears in the Security Register, within the time prescribed for the giving of such notice. In any
case where notice to holders of Securities, is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular holder shall affect the sufficiency of such notice with respect to other holders of
Securities. Any notice mailed to a holder of Securities in the manner herein prescribed shall be conclusively deemed to have been received by such holder, whether or not such holder actually receives such notice. 

If by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice as
provided above, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. If it is impossible or, in the opinion of the Trustee, impracticable to give any notice
by publication in the manner herein required, then such publication in lieu thereof as shall be made with the approval of the Trustee shall constitute a sufficient publication of such notice. 

Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this Indenture shall be in the English
language, except that any published notice may be in an official language of the country of publication. 
 Where this Indenture provides
for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be equivalent of such notice. Waivers of notice by holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 

Section 14.04 Governing Law. 

THIS INDENTURE AND EACH SECURITY SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 61 

 Section 14.05 Waiver of Jury Trial. 

EACH OF THE COMPANY, THE HOLDERS OF SECURITIES, THE SECURITY REGISTRAR, THE PAYING AGENT 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 TRANSACTIONS CONTEMPLATED HEREBY. 

Section 14.06 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 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. 
 Section 14.07 Compliance Certificates and
Opinions. 
 (a) Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this
Indenture, the Company, shall furnish to the Trustee an Officers’ Certificate to the effect that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel to the
effect that all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be furnished. 
 (b) Each certificate or opinion provided for in
this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant in this Indenture shall include (1) a statement that the Person making such certificate or opinion has read such covenant or condition;
(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such
Person, 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. 

  
 62 

 Section 14.08 Form of Documents Delivered to Trustee. 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that
all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel. 

Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or
representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company. 

Any certificate, statement or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters,
upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Company. 
 Where any
Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 14.09 Payments on Business Days. 

Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and as set forth in an Officers’ Certificate, or
established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or
principal, and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date. 

Section 14.10 Conflict with Trust Indenture Act. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust
Indenture Act, such imposed duties shall control. 

  
 63 

 Section 14.11 Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 Section 14.12 Separability. 

In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such
invalid or illegal or unenforceable provision had never been contained herein or therein. 
 Section 14.13 Assignment. 

The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect
wholly-owned Subsidiary of the Company with the prior written consent of the parties hereto; provided that, in the event of any such assignment, the Company will remain liable for all such obligations, subject to Section 10.01 of this
Indenture. Subject to the foregoing, this Indenture shall be binding upon and inure to the benefit of the parties thereto and their respective successors and assigns and may not otherwise be assigned by the parties thereto. 

Section 14.14 Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction thereof. 

  
 64 

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

			
	AXA EQUITABLE HOLDINGS, INC.
		
	By:	 	 /s/ Anders B. Malmström.

		 	Name: Anders B. Malmström
		 	 Title: Senior Executive Vice

  President and Chief Financial

  Officer

 [Signature Page to Indenture] 

 
			
	WILMINGTON SAVINGS FUND SOCIETY, FSB, not in its individual capacity but solely in its capacity as Trustee
		
	By:	 	 /s/ Raye D. Goldsborough

		 	Name: Raye D. Goldsborough
		 	Title: Assistant Vice President

 [Signature Page to Indenture] 

 
			
	CITIBANK, N.A.,
	as Paying Agent, Security Registrar and Calculation Agent
		
	By:	 	 /s/ Jennifer McCourt

		 	Name: Jennifer McCourt
		 	Title: Senior Trust Officer

 [Signature Page to Indenture]EX-4.5

 Exhibit 4.5 

EXECUTION VERSION 
 FIRST
SUPPLEMENTAL INDENTURE 
 among 

AXA EQUITABLE HOLDINGS, INC., 

ISSUER, 
 WILMINGTON SAVINGS FUND
SOCIETY, FSB, 
 TRUSTEE 
 AND

 CITIBANK, N.A.,  

PAYING AGENT, SECURITY REGISTRAR AND CALCULATION AGENT 

DATED AS OF APRIL 20, 2018 

3.900% SENIOR NOTES DUE 2023 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	
	ARTICLE I	 
	NOTES	 
			
	 SECTION 1.01
	 	 Definitions
	  	 	1	 
	 SECTION 1.02
	 	 Establishment
	  	 	4	 
	 SECTION 1.03
	 	 Payment of Principal and Interest
	  	 	4	 
	 SECTION 1.04
	 	 Global Securities
	  	 	6	 
	 SECTION 1.05
	 	 Transfer and Exchange
	  	 	7	 
	 SECTION 1.06
	 	 Restricted Legends
	  	 	8	 
	 SECTION 1.07
	 	 Exchange Offer
	  	 	9	 
	 SECTION 1.08
	 	 Defeasance
	  	 	9	 
	 SECTION 1.09
	 	 No Sinking Fund
	  	 	9	 
	 SECTION 1.10
	 	 Redemption at the Option of the Company
	  	 	10	 
	 SECTION 1.11
	 	 Reporting Covenant
	  	 	12	 
	 SECTION 1.12
	 	 Special Mandatory Redemption
	  	 	13	 
	 SECTION 1.13
	 	 Interest Rate Determination
	  	 	14	 
	
	ARTICLE II	 
	MISCELLANEOUS PROVISIONS	 
			
	 SECTION 2.01
	 	 Notes Unaffected by Other Supplemental Indentures
	  	 	14	 
	 SECTION 2.02
	 	 Trustee Not Responsible for Recitals
	  	 	14	 
	 SECTION 2.03
	 	 Ratification and Incorporation of Base Indenture
	  	 	14	 
	 SECTION 2.04
	 	 Governing Law
	  	 	14	 
	 SECTION 2.05
	 	 Separability
	  	 	14	 
	 SECTION 2.06
	 	 Executed in Counterparts
	  	 	14	 

 EXHIBITS 
  

			
	Exhibit A	  	Form of Notes
		
	Exhibit B	  	Form of Rule 144A Certificate
		
	Exhibit C	  	Form of Regulation S Certificate
		
	Exhibit D	  	Restricted Legends
		
	Exhibit E	  	Temporary Regulation S Legend

  
 i 

 FIRST SUPPLEMENTAL INDENTURE, dated as of April 20, 2018 (this “First Supplemental
Indenture”), among AXA Equitable Holdings, Inc., a Delaware corporation (the “Company”), Wilmington Savings Fund Society, FSB, duly organized and existing under the laws of the United States of America, not in
its individual capacity but solely in its capacity as trustee hereunder (together with its successors and assigns in such capacity, the “Trustee”), and Citibank, N.A., as paying agent, security registrar and calculation agent (the
“Agent”), supplementing the Indenture, dated as of April 20, 2018 (the “Base Indenture”), among the Company, the Trustee and the Agent. 

RECITALS 

WHEREAS, the Company executed and delivered the Base Indenture to the Trustee to provide for the future issuance of the Company’s senior
debt securities (the “Securities”), to be issued from time to time in one or more series as might be determined by the Company under the Base Indenture; 

WHEREAS, pursuant to the terms of the Base Indenture and this First Supplemental Indenture (together, the “Indenture”),
the Company has duly authorized the creation and issuance of $800,000,000 principal amount of its 3.900% Senior Notes due 2023 (the “Notes”), the form and substance of such Notes, and the terms, provisions and conditions
thereof to be set forth herein as provided in the Indenture; 
 WHEREAS, the Company has requested that the Trustee, in respect to the
Notes, execute and deliver this First Supplemental Indenture in such capacity; and 
 WHEREAS, all requirements necessary to make this First
Supplemental Indenture a valid instrument in accordance with its terms and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee or an Authenticating Agent, the valid obligations of the Company, have been
done and performed, and the execution and delivery of this First Supplemental Indenture has been duly authorized in all respects; 
 NOW
THEREFORE, in consideration of the purchase and acceptance of the Notes by the holders thereof, and for the purpose of setting forth, as provided in the Indenture, the form and substance of the Notes, and the terms, provisions and conditions
thereof, the parties hereto hereby agree as follows: 

  
 1 

 ARTICLE I 

NOTES 

SECTION 1.01 Definitions. 

Unless the context otherwise requires or unless otherwise set forth herein: 

(a) a term not defined herein that is defined in the Base Indenture, has the same meaning when used in this First Supplemental Indenture; 

(b) the definition of any term in this First Supplemental Indenture that is also defined in the Base Indenture, shall for the purposes of this
First Supplemental Indenture supersede the definition of such term in the Base Indenture; 
 (c) a term defined anywhere in this First
Supplemental Indenture has the same meaning throughout; 
 (d) the definition of a term in this First Supplemental Indenture is not intended
to have any effect on the meaning or definition of an identical term that is defined in the Base Indenture insofar as the use or effect of such term in the Base Indenture, as previously defined, is concerned; 

(e) the singular includes the plural and vice versa; 

(f) headings are for convenience of reference only and do not affect interpretation; and 

(g) the following terms have the meanings given to them in this Section 1.01(g): 

“Additional Interest” means all additional interest then owing pursuant to Section 4 of the Registration Rights
Agreement. 
 “Exchange Notes” means notes issued by the Company hereunder containing terms identical to the Original Notes
(except (i) that interest thereon shall accrue from the last date on which interest was paid on the Original Notes or, if no such interest has been paid, from the Original Issue Date, (ii) that the legend or legends relating to
transferability and other related matters set forth on the Original Notes, including the Restricted Legend, shall be removed or appropriately altered and (iii) as otherwise set forth herein), to be offered to holders of Original Notes in
exchange for Exchange Notes pursuant to the Exchange Offer. 
 “Exchange Offer” means a Registered Exchange Offer as
defined in the Registration Rights Agreement. 
 “Initial Purchasers” means the several initial purchasers listed in
Schedule I of the Purchase Agreement, dated April 17, 2018, between the Company and Representatives. 
 “Interest Payment
Date” shall mean April 20 and October 20 of each year, commencing October 20, 2018. 

  
 2 

 “Notes” means the Original Notes and the Exchange Notes, if any, that are issued
under this Indenture, as amended or supplemented from time to time. 
 “Original Issue Date” means April 20,
2018. 
 “Original Notes” means the Company’s 3.900% Senior Notes due 2023. 

“Par Call Date” means March 20, 2023. 

“Qualifying IPO” means the initial public offering of shares of common stock of the Company as set forth in the Registration
Statement on Form S-1 (File No. 333-221521) describing AXA S.A.’s plans to offer and sell shares of the Company’s common stock in an initial public
offering of at least 10 percent of the outstanding shares of common stock of the Company. 
 “Redemption Date”
means the date fixed for the redemption of the Notes by or pursuant to the Indenture. 
 “Registration Rights
Agreement” means the Registration Rights Agreement, dated as of the Original Issue Date, between the Company and the Representatives. 

“Regular Record Date” means with respect to each Interest Payment Date, the close of business on the preceding
April 5 or October 5, as the case may be (whether or not a Business Day). 
 “Regulation S” means Regulation S as
promulgated under the Securities Act. 
 “Representatives” means Citigroup Global Markets Inc., J.P. Morgan Securities LLC
and Wells Fargo Securities, LLC, acting as representatives of the several initial purchasers under the Purchase Agreement, dated April 17, 2018, between the Company and Representatives. 

“Restricted Legend” means the legend set forth in Exhibit D. 

“Rule 144” means Rule 144 promulgated by the SEC under the Securities Act, or any successor provision. 

“Rule 144A” means Rule 144A promulgated under the Securities Act or any successor provision. 

“Special Mandatory Redemption Date” means the tenth business day following March 31, 2019; provided that a
Qualifying IPO has not occurred on or prior to March 31, 2019. 
 “Stated Maturity” means April 20, 2023.

  
 3 

 “Temporary Regulation S Legend” means the legend set forth in Exhibit E. 

SECTION 1.02 Establishment. 

(a) There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the Company’s
“3.900% Senior Notes due 2023”. 
 (b) There are to be authenticated and delivered the Notes, initially limited in aggregate
principal amount to $800,000,000, and no further Notes shall be authenticated and delivered except as provided by Sections 2.05, 2.07, 2.11, 3.03 or 9.04 of the Base Indenture; provided, however, that the aggregate principal
amount of the Notes may be increased in the future with no limit, without the consent of the holders of the Notes, on the same terms and with the same CUSIP and ISIN numbers as the Notes, except for the issue price, Original Issue Date and, if
applicable, the first Interest Payment Date and the initial interest accrual date; provided that no Event of Default with respect to the Notes shall have occurred and be continuing. The Notes shall be issued in fully registered form.

 (c) The Original Notes and the Exchange Notes shall be issued in the form of one or more Global Securities, registered in the name of the
Depositary (as defined below) or its nominee. Each Original Note and each Exchange Note and the Trustee’s or Authenticating Agent’s Certificate of Authentication thereof, shall be in substantially the form set forth in Exhibit A
hereto. The depositary with respect to the Notes shall be The Depository Trust Company (the “Depositary”). 
 (d) Each Note
shall be dated the date of authentication thereof and shall bear interest from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 

SECTION 1.03 Payment of Principal and Interest. 

(a) The principal of the Notes shall be due at the Stated Maturity. The unpaid principal amount of the Notes shall bear interest at the rate of
3.900% per year until paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date, commencing on October 20, 2018, to the Person in whose name the Notes are registered on the Regular Record Date for
such Interest Payment Date; provided that interest payable at the Stated Maturity or upon redemption will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly provided for will
forthwith cease to be payable to the holders on such Regular Record Date and may be paid as provided in Section 2.03 of the Base Indenture. 

(b) Payments of interest on the Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments
for the Notes shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. 

  
 4 

 (c) If any date on which interest is payable on the Notes is not a Business Day, then a payment
of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year,
such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date the payment was originally payable. 

(d) The Agent is hereby designated as Paying Agent for the Notes and all payments of the principal of, and premium, if any, and interest due on
the Notes at the Stated Maturity or upon redemption will be made upon surrender of the Notes at the Corporate Trust Office of the Trustee in Wilmington, Delaware or of the Paying Agent in the Borough of Manhattan, The City of New York. 

(e) The principal of, and premium, if any, and interest due on the Notes shall be paid in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts. Payments of interest (including interest on any Interest Payment Date) and Additional Interest will be made, subject to such surrender where applicable and subject,
in the case of a Global Security, to the Trustee’s or Paying Agent’s arrangements with the Depositary, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear
in the Security Register, or (ii) by wire transfer at such place and to such account at a banking institution in the United States of America as may be designated in writing to the Trustee and Paying Agent at least 15 days prior to the
date for payment by the Person entitled thereto. 
 (f) Pursuant to the Registration Rights Agreement, the Company will be obligated upon the
occurrence of certain events to consummate an exchange offer pursuant to which the holders of the Original Notes shall have the right to exchange the Original Notes for the Exchange Notes, which have been registered under the Securities Act, in like
principal amount and having terms identical in all material respects as the Original Notes. Holders will be entitled to the payment of Additional Interest at a rate of 0.25% per annum (which rate shall increase by an additional 0.25% per annum for
each subsequent 90-day period that such additional interest continues to accrue, up to a maximum of 0.50% per annum on the Notes) in the event such exchange offer is not consummated and upon certain other
conditions, all pursuant to and in accordance with the terms of the Registration Rights Agreement. The Company shall give the Trustee and the Paying Agent written notice of any Additional Interest that begins to accrue on the Notes as a result of
this Section 1.03(f). The Trustee or the Agents shall not be responsible for knowing the terms of, or monitoring, the Registration Rights Agreement. 

  
 5 

 SECTION 1.04 Global Securities. 

(a) Except under the limited circumstances described below, Notes represented by Global Securities will not be exchangeable for, and will not
otherwise be issuable as, Notes in definitive form. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary or to a successor Depositary or its nominee. 
 (b) Except as otherwise provided in this First Supplemental Indenture, owners of
beneficial interests in such Global Securities will not be considered the holders thereof for any purpose under the Indenture, and no Global Security representing a Note shall be exchangeable, except for another Global Security of like denomination
and to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee. The rights of holders of such Global Securities shall be exercised only through the Depositary. 

(c) A Global Security shall be exchangeable in whole or, from time to time, in part for Notes in definitive registered form only as provided in
the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Notes or if at any time the Depositary shall no longer be registered or in good standing as a
“clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, at such time as the Depositary is required to be so registered and
the Depositary so notifies the Company and, in each case, the Company does not appoint a successor Depositary within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be or (ii) subject to
the procedures of the Depositary, the Company in its sole discretion determines that the Notes shall be exchangeable for Notes in definitive registered form and executes and, in each case, delivers to the Security Registrar a written order of the
Company providing that the Notes shall be so exchangeable, the Notes shall be exchangeable for Notes in definitive registered form; provided that the definitive Notes so issued in exchange for the Notes shall be in denominations of
$2,000 and any integral multiple of $1,000 in excess thereof, and be of like aggregate principal amount and tenor as the portion of the Notes to be exchanged. Except as provided herein, owners of beneficial interests in the Notes will not be
entitled to have Notes registered in their names, will not receive or be entitled to physical delivery of Notes in definitive registered form and will not be considered the holders thereof for any purpose under the Indenture. Neither the Company,
the Trustee, any Paying Agent nor the Security Registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in the Notes, or for maintaining, supervising
or reviewing any records relating to such beneficial ownership interests. Any Global Security that is exchangeable pursuant to this Section 1.04(c) shall be exchangeable for Notes registered in such names as the Depositary shall direct. 

  
 6 

 SECTION 1.05 Transfer and Exchange. 

(a) The Agent is hereby designated as Security Registrar for the Notes. No service charge will be made for any registration of transfer or
exchange of Notes, but payment will be required of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

(b) The transfer or exchange of any Notes (or a beneficial interest therein) may only be made in accordance with this Section 1.05 and, in
the case of a Global Security (or a beneficial interest therein), Section 1.04 and the applicable rules and procedures of the Depositary. The Security Registrar shall refuse to register any requested transfer or exchange that does not comply
with the preceding sentence. 
 (c) The Company or the Security Registrar shall not be required to effect any transfer (other than to the
Company or The Depository Trust Company or its nominee) of any individual Security on the Security Registrar unless (i) it receives a certificate substantially in the form of the Rule 144A Certificate duly executed by the holder or his
attorney duly authorized in writing, (ii) it receives a certificate substantially in the form of the Regulation S Certificate duly executed by the holder or his attorney duly authorized in writing or (iii) any other exemption
from the registration requirements under the Securities Act is available and, in each case, the Company or the Trustee or the Agent receives such documentation, including opinions of counsel, requested by the Company, the Trustee or the Agent in
order to confirm compliance with the transfer restrictions set forth herein; provided that, if the requested transfer or exchange is made by the registered holder of an individual Security that does not bear the Restricted Legend or Temporary
Regulation S Legend, then no certification is required. In the event that a Global Security or an individual Security that does not bear the Restricted Legend or Temporary Regulation S Legend is surrendered for transfer or exchange, upon transfer or
exchange the Trustee or the Agent shall deliver an individual Security that does not bear the Restricted Legend or Temporary Regulation S Legend. 

(d) No certification is required in connection with any transfer or exchange of any Note (or a beneficial interest therein) after such Note is
eligible for resale pursuant to Rule 144 without being subject to any conditions as provided in Rule 144; provided that the Company has provided the Trustee or the Agents with an Officers’ Certificate to that effect, and the Company may
require from any Person requesting a transfer or exchange in reliance upon this clause an opinion of counsel and any other reasonable certifications and evidence in order to support such certificate. Any individual Security delivered in reliance
upon this paragraph will not bear the Restricted Legend or Temporary Regulation S Legend. 

  
 7 

 (e) The Trustee or the Agents will retain copies of all certificates, opinions and other
documents received in connection with the transfer or exchange of a Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Trustee or the
Agents. 
 (f) The Trustee or the Agents shall have no obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this First Supplemental Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depositary participants 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 First Supplemental Indenture,
and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 (g) Notwithstanding the
foregoing, through the 40-day distribution compliance period as defined in Regulation S, a beneficial interest in a Global Security issued in reliance on Regulation S may be held only through designated
members of, or participants in, the Depositary holding on behalf of Euroclear Bank SA/NV or Clearstream Banking, S.A. 
 SECTION 1.06
Restricted Legends. 
 (a) Except as otherwise provided in paragraph (d) of this Section 1.06, Section 1.04(a),
Section 1.05(c) or Section 1.05(d), each Note shall bear the Restricted Legend and any temporary Global Security authenticated and delivered for any Notes offered and sold in offshore transactions in reliance on Regulation S shall bear the
Temporary Regulation S Legend. Following the expiration of the distribution compliance period set forth in Regulation S with respect to any temporary Global Securities, beneficial interests in such temporary Global Securities shall be exchanged as
provided in Section 1.05, for one or more permanent Global Securities. 
 (b) The Notes shall initially be issued in the form of one or
more individual Securities registered in the name of the Depositary. Any such Global Securities shall be Global Securities for purposes of the Base Indenture and shall be subject to the provisions thereof governing Global Securities, except as
modified hereby. 
 (c) If the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may
reasonably require) that a Note is eligible for resale pursuant to Rule 144 without compliance with any limits thereunder and that the Restricted Legend or Temporary Regulation S Legend is no longer necessary or appropriate in order to ensure that
subsequent transfers of the Note (or a beneficial interest therein) are effected in compliance with the Securities Act, the Company may instruct the Trustee or the Agents in an Officers’ Certificate to cancel the Note and issue

  
 8 

 
to the holder thereof (or to its transferee) a new Note of like tenor and amount of the same series, registered in the name of the registered holder thereof (or its transferee), that does not
bear the Restricted Legend or Temporary Regulation S Legend, and the Trustee or the Agents will comply with such instruction. 
 (d) By its
acceptance of any Note bearing the Restricted Legend or Temporary Regulation S Legend (or any beneficial interest in such a Note), each registered holder thereof and each owner of a beneficial interest therein acknowledges the restrictions on
transfer of such Note (and any such beneficial interest) set forth in this First Supplemental Indenture and in the Restricted Legend and Temporary Regulation S Legend and agrees that it will transfer such Note (and any such beneficial interest) only
in accordance with this First Supplemental Indenture and such legend. 
 SECTION 1.07 Exchange Offer. 

Upon the occurrence of an Exchange Offer in accordance with the Registration Rights Agreement, the Company shall issue and, upon receipt of an
authentication order, the Trustee or an Authenticating Agent shall authenticate (i) one or more Global Securities without the Restricted Legend or the Temporary Regulation S Legend in an aggregate principal amount equal to the principal
amount of the beneficial interests in the Global Securities with the Restricted Legend or Temporary Regulation S Legend accepted for exchange in the Exchange Offer and (ii) definitive Notes without the Restricted Legend or Temporary
Regulation S Legend in an aggregate principal amount equal to the principal amount of the definitive Notes with the Restricted Legend or Temporary Regulations S Legend accepted for exchange in the Exchange Offer. Concurrently with the issuance of
such Notes, the Trustee shall cause the aggregate principal amount of the applicable Global Securities with the Restricted Legend or Temporary Regulation S Legend to be reduced accordingly. Any Original Notes that remain outstanding after the
consummation of an Exchange Offer, and Exchange Notes issued in connection with an Exchange Offer, shall be treated as a single class of Notes under this Indenture. 

SECTION 1.08 Defeasance. 

The provisions of Sections 13.02 and 13.03 of the Base Indenture will apply to the Notes. An election by the Company to defease the Notes may
be evidenced by a Certificate. 
 SECTION 1.09 No Sinking Fund. 

The Notes shall not be entitled to any sinking fund. 

  
 9 

 SECTION 1.10 Redemption at the Option of the Company. 

(a) At any time and from time to time prior to the Par Call Date, the Notes will be redeemable at the Company’s option, in whole or in
part, at a redemption price equal to the greater of 100% of the principal amount of Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the Redemption Date and the Make-Whole Redemption Amount (as defined below). 

(b) At any time and from time to time on or after the Par Call Date, the Notes will be redeemable at the Company’s option, in whole or in
part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

“Make-Whole Redemption Amount” means the sum, as calculated by the Premium Calculation Agent, of the present values of the
remaining scheduled payments of principal of and interest on the Notes to be redeemed (not including any portion of those payments of interest accrued as of any Redemption Date), as if they were redeemed on the Par Call Date, discounted from their
respective scheduled payment dates to such Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus
20 basis points, plus accrued and unpaid interest thereon to, but excluding, such Redemption Date. 
 For purposes of the preceding
definition: 
 (i) “Treasury Rate” means, with respect to any Redemption Date, the rate per annum
equal to the semi-annual equivalent yield to maturity of the applicable Comparable Treasury Issue, calculated using a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding such Redemption Date. 

(ii) “Premium Calculation Agent” means an investment banking institution of national standing appointed
by the Company. 
 (iii) “Comparable Treasury Issue” means, with respect to any Redemption Date, the
U.S. Treasury security selected by the Premium Calculation Agent as having a maturity or interpolated maturity (on a day-count basis) comparable to the term remaining from such Redemption Date to the Par Call
Date (the “Remaining Life”) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life. 

  
 10 

 (iv) “Comparable Treasury Price” means, with respect to
any Redemption Date, (1) the average of five applicable Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Premium
Calculation Agent obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 

(v) “Reference Treasury Dealers” means each of (1) Citigroup Global Markets Inc., J.P.
Morgan Securities LLC and Wells Fargo Securities, LLC, and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a
“Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) any other Primary Treasury Dealers selected by the Premium Calculation Agent after consultation with the Company.

 (vi) “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Premium Calculation Agent, of the bid and ask prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to the
Premium Calculation Agent by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

(c) Notice of any redemption will be mailed (or, if the Notes are represented by one or more Global Securities, transmitted in accordance with
The Depositary Trust Company’s standard procedures therefor) at least 30 days (unless the trustee agrees to a shorter period) but not more than 60 days before the Redemption Date to each holder of the Notes to be redeemed. Unless the Company
defaults in payment of the redemption price, on or after the Redemption Date, interest will cease to accrue on the Notes called for redemption and all rights under such Notes will terminate. 

(d) Notwithstanding Section 3.02 of the Base Indenture, the notice of redemption with respect to any redemption pursuant to
Section 3.01 need not set forth the Redemption Price but only the manner of calculation thereof as described above. 
 (e) The Company
shall notify the Trustee and the Agents of the Redemption Price with respect to any redemption pursuant to Section 3.01 promptly after the calculation thereof. The Trustee and the Agents shall not be responsible for calculating said Redemption
Price. 
 (f) If less than all of the Notes are to be redeemed, the Notes or portions of the Notes to be redeemed shall be selected in
accordance with the procedures of the Depositary. Such Notes may be selected in amounts of $2,000 and integral multiples of $1,000 in excess thereof (provided that the unredeemed portion of any Note to be

  
 11 

 
redeemed in part will not be less than $2,000), and the Trustee or the Security Registrar shall thereafter promptly notify the Company in writing of the numbers of Notes to be redeemed, in whole
or in part; provided that if the Notes are represented by one or more Global Securities, interests in such Global Securities shall be selected for redemption by the Depositary in accordance with its standard procedures therefor. 

SECTION 1.11 Reporting Covenant 

(a) Unless the Company has filed the financial statements referred to in (i) and (ii) below with the Commission in accordance with
Section 1.11(b), the Company shall post on its public website and, within 15 days after the Company posts such financial statements or reports on its public website, to make available to the Trustee and to the holders of the Notes, without cost
to any holder: 
 (i) Within 110 days after the end of each fiscal year, the Company’s audited annual financial
statements, together with the related report of the Company’s independent auditors thereon, prepared in accordance with the requirements that would be applicable to such audited annual financial statements if appearing in an annual report on
Form 10-K filed by the Company as a non-accelerated filer (within the meaning of Rule 12b-2 under the Exchange Act) subject to
the reporting requirements of Section 13 or Section 15(d) of the Exchange Act, or any successor or comparable form; and 

(ii) Within 55 days after the end of each of the first three fiscal quarters of each fiscal year (beginning with the fiscal
quarter ending June 30, 2018), the Company’s unaudited interim financial statements, prepared in accordance with the requirements that would be applicable to such unaudited interim financial statements if appearing in a quarterly report on
Form 10-Q filed by the Company as a non-accelerated filer (within the meaning of Rule 12b-2 under the Exchange Act) subject to
the reporting requirements of Section 13 or Section 15(d) of the Exchange Act, or any successor or comparable form. 
 (b) For so
long as the Company is subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act, the Company shall file with the Trustee and make available to the holders of the Securities (without exhibits), without cost
to any holder, copies of all documents that the Company files with, or furnishes to, the Commission under the Exchange Act, within 15 days after the Company files them with, or furnishes them to, the Commission. Any such documents that are publicly
available through the EDGAR system of the Commission (or any successor system) shall be deemed to have been filed with the Trustee and made available to holders in accordance with the Company’s obligations under this Section 1.11. If at
any time the Company is not subject to Section 13 or Section 15(d) of the Exchange Act, and to the extent not satisfied by the foregoing, Holdings will make available to the holders of the Securities and to prospective investors, for so
long as any Securities are outstanding, in accordance with the rules and regulations prescribed from time to time by the Commission, such information as may be required pursuant to Rule 144A(d)(4) of the Securities Act. 

  
 12 

 (c) Delivery of such reports, statements, information and documents to the Trustee shall be for
informational purposes only and the Trustee’s receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of the covenants contained in this Indenture (as to which the Trustee will be entitled to conclusively rely upon an Officers’ Certificate). 

SECTION 1.12 Special Mandatory Redemption. 

(a) If the consummation of a Qualifying IPO has not occurred on or prior to March 31, 2019, the Company shall redeem the Notes on the
Special Mandatory Redemption Date, in whole, at 101% of the then-outstanding aggregate principal amount of the Notes together with accrued and unpaid interest on the Notes from the Original Issue Date or the
last date on which interest has been paid to, but excluding, the Special Mandatory Redemption Date. 
 (b) Notwithstanding the Special
Mandatory Redemption Date, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or before the Special Mandatory Redemption Date will be payable on such Interest Payment Dates to the registered holders of
Notes as of the close of business on the relevant Regular Record Dates in accordance with the Notes and the Indenture. 
 (c) The Company
shall cause a notice of the Special Mandatory Redemption to be sent, with a copy to the Trustee or the Agents, not later than five Business Days after March 31, 2019 to each holder of the Notes at its registered address (or, if the Notes are
represented by one or more Global Securities, transmitted in accordance with the Depositary’s standard procedures therefor). The notice shall specify the Special Mandatory Redemption Date. Unless the Company defaults on the payment of the
Special Mandatory Redemption Price with respect to the Notes outstanding on the Special Mandatory Redemption Date, on and after such date, interest will cease to accrue on the Notes and all rights under the Notes will terminate. 

ARTICLE II 

MISCELLANEOUS PROVISIONS 

This First Supplemental Indenture will become effective upon its execution and delivery. 

  
 13 

 SECTION 2.01 Notes Unaffected by Other Supplemental Indentures. 

To the extent the terms of the Base Indenture are amended as provided herein, no such amendment shall in any way affect the terms of any other
supplemental indenture or any other series of Securities. This First Supplemental Indenture shall relate and apply solely to the Notes. 

SECTION 2.02 Trustee Not Responsible for Recitals. 

The recitals herein contained are made by the Company and not by the Trustee or the Agents, and neither the Trustee nor the Agents assume any
responsibility for the correctness thereof. Neither the Trustee nor the Agents make any representation as to the validity or sufficiency of this First Supplemental Indenture or the Notes. 

SECTION 2.03 Ratification and Incorporation of Base Indenture. 

As supplemented hereby, the Base Indenture is in all respects ratified and confirmed, and the Base Indenture and this First Supplemental
Indenture shall be read, taken and construed as one and the same instrument. 
 SECTION 2.04 Governing Law. 

THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 2.05 Separability. 

In case any one or more of the provisions contained in this First Supplemental Indenture or in the Notes 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 First Supplemental Indenture or of the Notes, but this First Supplemental Indenture and the Notes shall
be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 2.06
Executed in Counterparts. 
 This First Supplemental Indenture may be executed in any number of counterparts, each of which shall be
an original; but such counterparts shall together constitute but one and the same instrument. 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have caused
this First Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized, all as of the day and year first above written. 

 

			
	AXA EQUITABLE HOLDINGS, INC., as Issuer
		
	By:	 	 /s/ Anders B. Malmström.

		 	Name: Anders B. Malmström
		 	Title: Senior Executive Vice President
		 	and Chief Financial Officer

 [First Supplemental Indenture] 

 
			
	WILMINGTON SAVINGS FUND SOCIETY, FSB, not in its individual capacity but solely in its capacity as Trustee
		
	By:	 	 /s/ Raye D. Goldsborough

		 	Name: Raye D. Goldsborough
		 	Title: Assistant Vice President

 [First Supplemental Indenture] 

			
	 CITIBANK, N.A.,
 as Paying Agent,
Security Registrar and
 Calculation Agent

		
	By:	 	 /s/ Jennifer McCourt

		 	Name: Jennifer McCourt
		 	Title:   Senior Trust Officer

 [First Supplemental Indenture] 

 EXHIBIT A 

(FORM OF 3.900% SENIOR NOTES DUE 2023) 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE BASE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY
OR A NOMINEE OF A DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, TO AXA EQUITABLE HOLDINGS, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

EXCEPT AS OTHERWISE PROVIDED IN SECTION 1.04 OF THE FIRST SUPPLEMENTAL INDENTURE, THIS NOTE MAY BE TRANSFERRED IN WHOLE, BUT NOT IN PART, ONLY
TO DTC, TO ANOTHER NOMINEE OF DTC OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
  

					
	No. [●]	  		  	 CUSIP No.: 054561AA31 /
U0507EAA22
 ISIN No.: US054561AA303 / USU0507EAA204

 AXA EQUITABLE HOLDINGS, INC. 

Global Certificate initially representing 

$[•] aggregate principal amount of 

3.900% Senior Notes due 2023 
  

			
	Regular Record Date:	  	With respect to each Interest Payment Date, the close of business on the preceding April 5 or October 5, as the case may be (whether or not a Business Day).
		
	Original Issue Date:	  	April 20, 2018

  

	1 	For 144A Notes 

	2 	For Reg S Notes 

	3 	For 144 Notes 

	4 	For Reg S Notes 

  
 A-1 

 EXHIBIT A 
  

			
	Stated Maturity:	  	April 20, 2023
		
	Interest Payment Dates:	  	April 20 and October 20 of each year, commencing October 20, 2018
		
	Interest Rate:	  	3.900% per year
		
	Authorized Denomination:	  	$2,000 and any integral multiple of $1,000 in excess thereof

 This Global Certificate is in respect of a duly authorized issue of 3.900% Senior Notes due 2023 (the
“Notes”) of AXA Equitable Holdings, Inc., a Delaware corporation (the “Company,” which term includes any successor corporation under the Indenture referred to on the reverse hereof). The Company, for value
received, hereby promises to pay to Cede & Co., or registered assigns, the amount of principal of the Notes represented by this Global Certificate on the Stated Maturity shown above, and to pay interest thereon from the Original Issue Date
shown above, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on each Interest Payment Date as specified above, commencing October 20, 2018, and on the Stated Maturity
at the Interest Rate per year shown above until the principal hereof is paid or made available for payment and on any overdue principal and on any overdue installment of interest at such rate to the extent permitted by law. The interest so payable,
and punctually paid or duly provided for, on any Interest Payment Date (other than an Interest Payment Date that is the Stated Maturity or any Redemption Date) will, as provided in the Indenture, be paid to the Person in whose name this Note is
registered at the close of business on the Regular Record Date as specified above next preceding such Interest Payment Date, provided that any interest payable at Stated Maturity or on any Redemption Date will be paid to the Person to
whom principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the holders on such Regular Record Date and may be paid as provided in Section 2.03 of the Base Indenture.

 Payments of interest on this Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments
for this Note shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. In the event that any date on which interest is payable on
this Note is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business
Day is in the next succeeding calendar year, payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date the payment was originally payable. 

  
 A-2 

 EXHIBIT A 

The holder of this Note is entitled to the benefits of the Registration Rights Agreement. Additional Interest will be payable in cash
semi-annually on April 20 and October 20 of each year, or if any such date is not a Business Day, on the next succeeding Business Day. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy
Law) on overdue installments of Additional Interest, if any, hereon from time to time on demand at the same rate to the extent lawful. 

Payment of the principal of, and premium, if any, and interest due on this Note at the Stated Maturity or upon redemption will be made upon
surrender of this Note at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York. The principal of, and premium, if any, and interest due on this Note shall be paid in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts. Payment of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable and subject to the
Trustee’s arrangements with the Depositary, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or (ii) by wire transfer at such place
and to such account at a banking institution in the United States of America as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the Person entitled thereto. 

The Notes will be unsecured obligations of the Company and will rank equally in right of payment with all of the Company’s existing and
future unsecured and unsubordinated indebtedness. The Notes will rank senior to any subordinated indebtedness of the Company. 
 REFERENCE
IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 

Unless the certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Note
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 

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

Dated: 
  

			
	AXA EQUITABLE HOLDINGS, INC.
		
	By:	 	  

	Name:
	Title:

  
 A-1 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes referred to in the within mentioned Indenture. 

 

			
	CITIBANK, N.A., 
	as the Authentication Agent
		
	By:	 	  

		 	Authorized Signatory

 Dated: 

  
 A-2 

 (Reverse of Note) 

3.900% Senior Notes due 2023 
 1.
This Note is one of a duly authorized issue of senior debt securities of the Company (the “Securities”) issued and issuable in one or more series under an Indenture dated as of April 20, 2018 (the “Base
Indenture”), as supplemented by the First Supplemental Indenture, dated as of April 20, 2018 (the “First Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), among the
Company, Wilmington Savings Fund Society, FSB, as trustee (the “Trustee”) and Citibank, N.A., as paying agent and security registrar (the “Agent), to which the Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the holders of the Notes issued thereunder and of the terms upon which said Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the face hereof as the 3.900% Senior Notes due 2023, initially limited in aggregate principal amount of $800,000,000; provided, however, that (subject to the
provisions of the First Supplemental Indenture) the aggregate principal amount of the Notes may be increased in the future with no limit, without the consent of the holders of the Notes, on the same terms and with the same CUSIP and ISIN numbers as
the Notes, except for the issue price, Original Issue Date and, if applicable, the first Interest Payment Date and the initial interest accrual date, provided that no Event of Default with respect to the Notes shall have occurred and be continuing.
Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture. 
 2. This Note
is exchangeable in whole or, from time to time, in part for Notes in definitive registered form only as provided herein and in the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to
continue as Depositary for this Note or if at any time the Depositary shall no longer be registered or in good standing as a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of
1934, as amended, or other applicable statute or regulation, at such time as the Depositary is required to be so registered and the Depositary so notifies the Company and, in each case, the Company does not appoint a successor Depositary within 90
days after the Company receives such notice or becomes aware of such condition, as the case may be, (ii) any Event of Default or Default has occurred and is continuing with respect to the Notes or (iii) subject to the
procedures of the Depositary, the Company in its sole discretion determines that this Note shall be exchangeable for Notes in definitive registered form and executes and delivers to the Security Registrar a written order of the Company providing
that this Note shall be so exchangeable, this Note shall be exchangeable for Notes in definitive registered form, provided that the definitive Notes so issued in exchange for this Note shall be in denominations of $2,000 and integral multiples of
$1,000 in excess thereof and be of like aggregate principal amount and tenor as the portion of this Note to be exchanged. Except 

  
 A-3 

 
as provided above or in the First Supplemental Indenture, owners of beneficial interests in this Note will not be entitled to have Notes registered in their names, will not receive or be entitled
to physical delivery of Notes in definitive registered form and will not be considered the holders thereof for any purpose under the Indenture. Neither the Company, the Trustee, the Paying Agent nor the Security Registrar shall have any
responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in this Note, or for maintaining, supervising or reviewing any records relating to such beneficial ownership
interests. 
 3. If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared
due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 
 4. The Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the holders of the Securities under the Indenture at any time by the Company and the Trustee with the
consent of the holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the holders of specified percentages in
principal amount of the Notes at the time Outstanding, on behalf of the holders of all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the holder of this Note shall be conclusive and binding upon such holder and upon all future holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note. 
 5. The Indenture contains provisions for defeasance at any time of
(a) the entire indebtedness of the Company pursuant to this Note and (b) restrictive covenants and the related Events of Default, upon compliance by the Company with certain conditions set forth therein, which provisions
apply to this Note. 
 6. (a) At any time and from time to time prior to March 20, 2023 (the “Par Call Date”), the
Notes will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to the greater of 100% of the principal amount of Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the
Redemption Date and the Make-Whole Redemption Amount (as defined below). 
 (b) At any time and from time to time on or after the Par Call
Date, the Notes will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to, but excluding, the Redemption
Date. 

  
 A-4 

 “Make-Whole Redemption Amount” means the sum, as calculated by the Premium
Calculation Agent, of the present values of the remaining scheduled payments of principal of and interest on the Notes to be redeemed (not including any portion of those payments of interest accrued as of any Redemption Date), as if they were
redeemed on the Par Call Date, discounted from their respective scheduled payment dates to such Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued and unpaid interest thereon to, but excluding, such Redemption Date. 

For purposes of the preceding definition: 

(i) “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the applicable Comparable Treasury Issue, calculated using a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date. The Treasury Rate will be calculated on the third Business Day preceding such Redemption Date. 
 (ii)
“Premium Calculation Agent” means an investment banking institution of national standing appointed by the Company. 

(iii) “Comparable Treasury Issue” means, with respect to any Redemption Date, the U.S. Treasury
security selected by the Premium Calculation Agent as having a maturity or interpolated maturity (on a day-count basis) comparable to the term remaining from such Redemption Date to the Par Call Date (the
“Remaining Life”) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life. 

(iv) “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the
average of five applicable Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Premium Calculation Agent obtains fewer than five such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 (v) “Reference Treasury
Dealers” means each of (1) Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, and their respective successors; provided, however, that if any of the foregoing shall
cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (2) any other Primary
Treasury Dealers selected by the Premium Calculation Agent after consultation with the Company. 

  
 A-5 

 (vi) “Reference Treasury Dealer Quotations” means, with
respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Premium Calculation Agent, of the bid and ask prices for the applicable Comparable Treasury Issue (expressed, in each case, as a percentage of its
principal amount) quoted in writing to the Premium Calculation Agent by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

(c) Notice of any redemption will be mailed (or, if the Notes are represented by one or more Global Securities, transmitted in accordance with
The Depositary Trust Company’s (“DTC”) standard procedures therefor) at least 30 days (unless the trustee agrees to a shorter period) but not more than 60 days before the Redemption Date to each holder of the Notes to be
redeemed. Unless the Company defaults in payment of the redemption price, on or after the Redemption Date, interest will cease to accrue on the Notes called for redemption and all rights under such Notes will terminate. 

(d) The notice of redemption need not set forth the Redemption Price but only the manner of calculation thereof as described above. 

7. (a) If the consummation of a Qualifying IPO has not occurred on or prior to March 31, 2019, the Company shall redeem the Notes on the
Special Mandatory Redemption Date, in whole, at 101% of the then-outstanding aggregate principal amount of the Notes together with accrued and unpaid interest on the Notes from the Original Issue Date or the
last date on which interest has been paid to, but excluding, the Special Mandatory Redemption Date. 
 (b) Notwithstanding the Special
Mandatory Redemption Date, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or before the Special Mandatory Redemption Date will be payable on such Interest Payment Dates to the registered holders of
Notes as of the close of business on the relevant Regular Record Dates in accordance with the Notes and the Indenture. 
 (c) The Company
shall cause a notice of the Special Mandatory Redemption to be sent, with a copy to the Trustee and the Agents, not later than five Business Days after March 31, 2019 to each holder of the Notes at its registered address (or, if the Notes are
represented by one or more Global Securities, transmitted in accordance with the Depositary’s standard procedures therefor). The notice shall specify the Special Mandatory Redemption Date. Unless the Company defaults on the payment of the
Special Mandatory Redemption Price with respect to the Notes outstanding on the Special Mandatory Redemption Date, on and after such date, interest will cease to accrue on the Notes and all rights under the Notes will terminate. 

  
 A-6 

 8. The Company shall be responsible for calculating the Redemption Price with respect to any
redemption occurring prior to the Par Call Date. 
 9. If less than all of the Notes are to be redeemed, the Trustee shall select the Notes
or portions of Notes to be redeemed in accordance with the procedures of DTC. The Trustee may select for redemption Notes and portions of Notes in amounts of $2,000 and integral multiples of $1,000 in excess thereof (provided that the unredeemed
portion of any Note to be redeemed in part will not be less than $2,000) and shall thereafter promptly notify the Company and the Agents in writing of the numbers of Notes to be redeemed, in whole or in part; provided that if the Notes are
represented by one or more Global Securities, interests in such Global Securities shall be selected for redemption by the Depositary in accordance with its standard procedures therefor. 

10. No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of, and premium, if any, and interest due on this Note at the time, place and rate, and in the coin or currency, herein prescribed. 

11. (a) As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company or the
Security Registrar and duly executed by, the holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and of like tenor and for the same aggregate principal amount, will be issued to
the designated transferee or transferees. No service charge shall be made for any such exchange or registration of transfer, but the Company will require payment of a sum sufficient to cover any tax or other governmental charge payable in connection
therewith. 
 (b) Prior to due presentment of this Note for registration of transfer, the Company, the Trustee, the Paying Agent and the
Security Registrar of the Company or the Trustee may deem and treat the Person in whose name this Note is registered as the absolute owner hereof for all purposes (subject to Section 1.03(a) of the First Supplement Indenture), whether or not
this Note be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar, and neither the Company nor the Trustee nor the Paying Agent nor the Security Registrar shall be affected by notice
to the contrary. Except as provided in Section 1.03(a) of the First Supplemental Indenture, all payments of the principal of and premium, if any, and interest due on this Note made to or upon the order of the registered holder hereof shall, to
the extent of the amount or amounts so paid, effectually satisfy and discharge liability for moneys payable on this Note. 

  
 A-7 

 (c) The Notes are issuable only in registered form without coupons in denominations of $2,000, or
any integral multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as
requested by the holder surrendering the same upon surrender of the Note or Notes to be exchanged at the office or agency of the Company. 

12. No recourse shall be had for payment of the principal of, or premium, if any, or interest on this Note, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

 13. THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH LAWS OF THE STATE OF NEW YORK. 
 14. [Pursuant to the Registration Rights Agreement, the
Company will be obligated upon the occurrence of certain events to consummate the Exchange Offer pursuant to which the holder of this Note shall have the right to exchange this Original Note for the Company’s Exchange Notes, which have been
registered under the Securities Act, in like principal amount and having terms identical in all material respects as the Original Notes. The holders of this Note shall be entitled to receive Additional Interest in the event such Exchange Offer is
not consummated and upon certain other conditions, all pursuant to and in accordance with the terms of the Registration Rights Agreement.]5 

 

	5 	To be included in any Original Note. 

  
 A-8 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

					
	TEN COM	  	- as tenants in common	  	 UNIF GIFT MIN ACT—Custodian under
 Uniform
Gift to Minors Act

			
		  		  	  

		  		  	(State)
	TEN ENT	  	- as tenants by the entireties	  	
	JT TEN	  	- as joint tenants with right of survivorship and not as tenants in common.	  	

 Additional abbreviations may also be used though not on the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  

	
	  

	
	  

	
	  

 (please insert Social Security or other identifying number of assignee) 

the within Note and all rights thereunder, hereby irrevocably constituting and appointing 

 

	
	  

	
	  

	
	  

 agent to transfer said Note on the books of the Company, with full power of substitution in the premises. 

 

					
	Dated:	 	  
	  	  

		 		  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatsoever.

  
 A-9 

 EXHIBIT B 

Rule 144A Certificate 

                    
        ,          
 Wilmington
Savings Fund Society, FSB 
 WSFS Bank Center 
 500 Delaware
Avenue, 11th Floor 
 Wilmington, Delaware 19801-7411 

Attention: Global Capital Markets, Raye D. Goldsborough 

Citibank, N.A. 
 388 Greenwich Street, 6th Floor 
 New York, NY 10013 

Attention: AXA Equitable Holdings, Inc. 
  

	 	Re:	AXA Equitable Holdings, Inc. (the “Company”) 

 3.900% Senior
Notes due 2023 (the “Notes”) 
 Reference is made to the Indenture, dated as of April 20, 2018 (the “Base
Indenture”), as amended and supplemented by the First Supplemental Indenture, dated as of April 20, 2018 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), relating
to the Notes. Terms used herein and defined in the Indenture or in Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), are used herein as so defined. 

This certificate relates to U.S.$_____________ principal amount of Notes, which are evidenced by the following certificate(s) (the
“Specified Securities”): 
 CUSIP No.: 054561AA3 

CERTIFICATE No(s). _____________________ 

The person in whose name this certificate is executed below (the “Undersigned”) hereby certifies that (i) it is the sole
registered holder of the Specified Securities, or (ii) it is acting on behalf of all the registered holders of the Specified Securities and is duly authorized by them to do so. Such registered holder or holders are referred to herein
collectively as the “Holder”. 
 The Holder has requested that the Specified Securities be transferred. In connection with such
transfer, the Holder hereby certifies that the transfer is being effected in accordance with Rule 144A under the Securities Act and all applicable securities laws of the states of the United States and other jurisdictions. Accordingly, the Holder
hereby further certifies as follows: 

  
 B-1 

	 	1.	the Specified Securities are being transferred to a person that the Holder and any person acting on its behalf reasonably believe is a “qualified institutional buyer” within the meaning of Rule 144A, acquiring
for its own account or for the account of a qualified institutional buyer; and 

  

	 	2.	the Holder and any person acting on its behalf have taken reasonable steps to ensure that such transferee of the Specified Securities is aware that the Holder may be relying on Rule 144A in connection with the transfer.

 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

Date: _________________ 
 Very
truly yours, 
  

			
	 By:
	 	  

		 	 Name:

		 	 Title:

		 	 Address:

	
	(If the Undersigned, as such term is defined in the third paragraph of this certificate, is a corporation, partnership or fiduciary, the title of the person signing on behalf of the Undersigned must be stated.)

  
 B-2 

 EXHIBIT C 

FORM OF REGULATION S CERTIFICATE 

            
                ,
                 
 Wilmington Savings Fund
Society, FSB 
 WSFS Bank Center 
 500 Delaware Avenue, 11th
Floor 
 Wilmington, Delaware 19801-7411 
 Attention: Global
Capital Markets, Raye D. Goldsborough 
 Citibank, N.A. 
 388
Greenwich Street, 6th Floor 
 New York, NY 10013 

Attention: AXA Equitable Holdings, Inc. 
  

			
	    Re:	  	 AXA Equitable Holdings, Inc. (the “Company”)

3.900% Senior Notes due 2023 (the “Notes”)

 Dear Sirs: 
 In connection with
our proposed sale of $                 aggregate principal amount at maturity of the Notes, we confirm that such sale has been effected
pursuant to and in accordance with Regulation S under the Securities Act of 1933, as amended, and, accordingly, we represent that: 

(1) the offer of the Notes was not made to a person in the United States; 

(2) at the time the buy order was originated, the transferee was outside the United States or we and any person acting on our
behalf reasonably believed that the transferee was outside the United States; 
 (3) no directed selling efforts have been
made by us in the United States in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S, as applicable; and 

(4) the transaction is not part of a plan or scheme to evade the registration requirements of the U.S. Securities Act of 1933.

 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. Terms used in this letter have the meanings set forth in Regulation S. 

 

			
	Very truly yours,
	
	[Name of Transferor]
		
	By:	 	          

		 	Authorized Signature

  
 C-1 

 EXHIBIT D 

Restricted Legends 
 Each
Global Security offered and sold in reliance on Rule 144A or in an offshore transaction in reliance on Regulation S shall contain the following legend: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF
ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS
OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A
NOTES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY
PREDECESSOR OF SUCH SECURITY), IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN
DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT,
(C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON U.S. PERSONS THAT OCCUR OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR
TO ANY SUCH OFFER, SALE OR 

  
 D-1 

 
TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE CERTIFICATION AND/ OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE EARLIER OF THE TRANSFER OF THIS
SECURITY PURSUANT TO CLAUSE (B) ABOVE OR REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY OF THE RESALE RESTRICTIONS REFERRED
TO IN THIS PARAGRAPH. IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE
TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 
 BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER HEREOF WILL BE
DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (AN “ERISA
PLAN”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO
INCLUDE “PLAN ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR A
SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 BY ITS ACQUISITION OF THIS SECURITY, EACH PURCHASER OF THIS SECURITY THAT IS USING
ASSETS OF ANY ERISA PLAN TO ACQUIRE OR HOLD THIS SECURITY WILL BE DEEMED TO REPRESENT THAT (i) NONE OF THE COMPANY, THE INITIAL PURCHASERS OR ANY OF THE COMPANY’S OR THEIR RESPECTIVE AFFILIATES HAS ACTED AS THE ERISA PLAN’S FIDUCIARY,
OR HAS BEEN RELIED UPON FOR ANY ADVICE, WITH RESPECT TO THE PURCHASER’S DECISION TO ACQUIRE, HOLD, SELL, EXCHANGE, VOTE OR PROVIDE ANY CONSENT WITH RESPECT TO THE SECURITIES AND NONE OF THE COMPANY, THE INITIAL PURCHASERS, AND ANY OF THE
COMPANY’S OR THEIR RESPECTIVE AFFILIATES SHALL AT ANY TIME BE 

  
 D-2 

 
RELIED UPON AS THE ERISA PLAN’S FIDUCIARY WITH RESPECT TO ANY DECISION TO ACQUIRE, CONTINUE TO HOLD, SELL, EXCHANGE, VOTE OR PROVIDE ANY CONSENT WITH RESPECT TO THE SECURITIES AND
(ii) THE DECISION TO INVEST IN THE SECURITIES HAS BEEN MADE AT THE RECOMMENDATION OR DIRECTION OF AN “INDEPENDENT FIDUCIARY” DESCRIBED IN U.S. CODE OF FEDERAL REGULATIONS 29 C.F.R. SECTION
2510.3-21(c)(1)(i), AS AMENDED FROM TIME TO TIME, WHO (A) IS INDEPENDENT OF THE COMPANY, THE INITIAL PURCHASERS AND THE COMPANY’S AND THEIR RESPECTIVE AFFILIATES; (B) IS CAPABLE OF EVALUATING
INVESTMENT RISKS INDEPENDENTLY, BOTH IN GENERAL AND WITH RESPECT TO PARTICULAR TRANSACTIONS AND INVESTMENT STRATEGIES; (C) IS A FIDUCIARY (UNDER ERISA AND/OR SECTION 4975 OF THE CODE) WITH RESPECT TO THE PURCHASER’S INVESTMENT IN THE
SECURITIES AND IS RESPONSIBLE FOR EXERCISING INDEPENDENT JUDGMENT IN EVALUATING THE INVESTMENT IN THE SECURITIES; AND (D) IS AWARE OF AND ACKNOWLEDGES THAT (I) NONE OF THE COMPANY, THE INITIAL PURCHASERS OR ANY OF THE COMPANY’S OR
THEIR RESPECTIVE AFFILIATES IS UNDERTAKING TO PROVIDE IMPARTIAL INVESTMENT ADVICE, OR TO GIVE ADVICE IN A FIDUCIARY CAPACITY, IN CONNECTION WITH THE PURCHASER’S INVESTMENT IN THE SECURITIES, AND (II) THE INITIAL PURCHASERS AND THEIR
RESPECTIVE AFFILIATES HAVE A FINANCIAL INTEREST IN THE PURCHASER’S INVESTMENT IN THE SECURITIES ON ACCOUNT OF THE FEES AND OTHER REMUNERATION THE INITIAL PURCHASERS AND/OR THEIR RESPECTIVE AFFILIATES EXPECT TO RECEIVE IN CONNECTION WITH
TRANSACTIONS CONTEMPLATED HEREUNDER AND THAT IT HAS BEEN FAIRLY INFORMED OF THE EXISTENCE AND NATURE OF SUCH FINANCIAL INTERESTS. THE REPRESENTATIONS IN THIS PARAGRAPH ARE INTENDED TO COMPLY WITH THE DEPARTMENT OF LABOR’S REG. SECTIONS 29
C.F.R. 2510.3-21(a) AND (c)(1) AS PROMULGATED ON APRIL 8, 2016 (81 FED. REG. 20,997). IF THESE REGULATIONS ARE REVOKED, REPEALED OR NO LONGER EFFECTIVE, THESE REPRESENTATIONS SHALL BE DEEMED TO BE NO
LONGER IN EFFECT. 

  
 D-3 

 EXHIBIT E 

Temporary Regulation S Legend 

Each Global Security offered and sold in an offshore transaction in reliance on Regulation S, as a temporary Global Security, shall also
initially bear the following legend on the face thereof: 
 BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S.
PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON, AND IS ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 

EXCEPT AS SPECIFIED IN THE INDENTURE, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOT BE EXCHANGEABLE FOR
INTERESTS IN THE PERMANENT REGULATION S GLOBAL NOTE OR ANY OTHER NOTE REPRESENTING AN INTEREST IN THE NOTES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40 DAY DISTRIBUTION
COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(b)(2) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON RECEIPT BY THE TRUSTEE OF THE REGULATION S CERTIFICATE DULY EXECUTED BY THE HOLDER OR HIS ATTORNEY DULY AUTHORIZED IN WRITING.
DURING SUCH 40 DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY NOT BE SOLD, PLEDGED OR TRANSFERRED TO A U.S. PERSON OR FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON. 

  
 E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]