Document:

EX-4.2

 Exhibit 4.2 

 
  

GENERAL MOTORS FINANCIAL COMPANY, INC., 

AS ISSUER 
  

 
 FLOATING RATE
NOTES DUE 2021 
 4.200% SENIOR NOTES DUE 2021 
  

 
 THIRTY-THIRD
SUPPLEMENTAL INDENTURE 
 Dated as of November 6, 2018 

to 
 INDENTURE 

Dated as of October 13, 2015 
  

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

AS TRUSTEE 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	 
		
	 Section 1.01 Definitions
	  	 	1	 
	 Section 1.02 Incorporation by Reference of Trust Indenture Act
	  	 	7	 
	 Section 1.03 Rules of Construction
	  	 	7	 
	 Section 1.04 Relationship with Base Indenture
	  	 	7	 
		
	 ARTICLE 2 THE NOTES
	  	 	7	 
		
	 Section 2.01 Establishment, Form and Dating
	  	 	7	 
	 Section 2.02 Registrar and Paying Agent
	  	 	8	 
		
	 ARTICLE 3 REDEMPTION OF NOTES
	  	 	8	 
		
	 Section 3.01 Optional Redemption
	  	 	8	 
	 Section 3.02 Mandatory Redemption
	  	 	8	 
		
	 ARTICLE 4 COVENANTS
	  	 	9	 
		
	 Section 4.01 Liens
	  	 	9	 
	 Section 4.02 Corporate Existence
	  	 	9	 
		
	 ARTICLE 5 DEFEASANCE
	  	 	9	 
		
	 ARTICLE 6 NO GUARANTEES
	  	 	9	 
		
	 ARTICLE 7 MISCELLANEOUS
	  	 	9	 
		
	 Section 7.01 Governing Law
	  	 	9	 
	 Section 7.02 Successors
	  	 	10	 
	 Section 7.03 Severability
	  	 	10	 
	 Section 7.04 Counterpart Originals
	  	 	10	 
	 Section 7.05 Table of Contents, Headings, Etc
	  	 	10	 
	 Section 7.06 Calculation Agent
	  	 	10	 

  
 i 

 This THIRTY-THIRD SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”),
dated as of November 6, 2018, between General Motors Financial Company, Inc., a Texas corporation (the “Company”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”). 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture, dated as of October 13, 2015 (as amended or
supplemented to the date hereof, the “Base Indenture” and, together with this Supplemental Indenture, the “Indenture), between the Company and the Trustee, providing for the issuance by the Company from time to time of
one or more series of Securities; 
 WHEREAS, the Company has duly authorized the execution and delivery of this Supplemental Indenture to
provide for the issuance of (i) its floating rate notes due 2021 (the “Floating Rate Notes”) and (ii) its 4.200% senior notes due 2021 (the “2021 Notes” and, together with the Floating Rate Notes, the
“Notes”); 
 WHEREAS, the Company desires and has requested the Trustee to join with it in the execution and delivery of
this Supplemental Indenture in order to supplement the Base Indenture and to add covenants to and remove covenants from the Base Indenture with respect to the Notes as and to the extent set forth herein to provide for the issuance and the terms of
the Notes; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid indenture and agreement of the Company according
to its terms have been done. 
 NOW, THEREFORE: 

In consideration of the premises and the purchase of the Notes by the Holders thereof, the Company and the Trustee mutually covenant and agree
for the equal and proportionate benefit of all Holders from time to time of the Notes as follows. 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Definitions. 

Certain terms used principally in certain Articles hereof are defined in those Articles. Capitalized terms used but not defined in this
Supplemental Indenture shall have the meaning ascribed to them in the Base Indenture or in this Article. In the event of any conflict between any term defined in the Base Indenture and this Supplemental Indenture, the defined terms in this
Supplemental Indenture shall govern and control. 
 “Additional Notes” means any additional Notes of a particular series
issued under the Indenture as part of such series of Notes. 
 “Bank Lines” means, with respect to the Company or any of
its Restricted Subsidiaries, one or more debt facilities with banks or other lenders providing for revolving credit loans and/or letters of credit. 

“Base Indenture” has the meaning assigned to it in the recitals hereto, as amended, supplemented or otherwise modified from
time to time in accordance with the terms thereof. 
 “Board of Directors” means the Company’s board of directors or
any committee of that board duly authorized to act generally or in any particular respect for the Company under the Indenture. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in the City of New York
are authorized or obligated by law, regulation or executive order to remain closed and, in the case of calculating the Three-Month LIBOR with respect to the Floating Rate Notes, is also a London Business Day. 

“Calculation Agent” shall initially mean Wells Fargo Bank, National Association, or any successor appointed from time to time
by the Company, acting as calculation agent. 

 “Comparable Treasury Issue” means the United States Treasury security or
securities selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the 2021 Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the 2021 Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury
Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such quotations. 
 “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable reserves and
other properly deductible items) after deducting therefrom all current liabilities and all goodwill, trade names, trademarks, unamortized debt discounts and expense and other like intangibles of the Company and its consolidated Subsidiaries, all as
set forth in the most recent balance sheet of the Company and its consolidated Subsidiaries prepared in accordance with GAAP. 

“Credit Enhancement Agreements” means, collectively, any documents, instruments, guarantees or agreements entered into
by the Company, any of its Restricted Subsidiaries or any Receivables Entity for the purpose of providing credit support for one or more Receivables Entities or any of their respective securities, debt instruments, obligations or other Indebtedness.

 “Fixed Rate Interest Payment Date” means each day on which interest on the 2021 Notes will be paid, which will be
semi-annually in arrears on May 6 and November 6 of each year, commencing on May 6, 2019, and at maturity. 

“Floating Rate Interest Payment Date” means each day on which interest on the Floating Rate Notes will be paid, which will be
quarterly in arrears on February 6, May 6, August 6 and November 6 of each year, commencing on February 6, 2019, and at maturity. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time,
including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as have been approved by a significant segment of the accounting profession, consistently applied. 

“Global Notes” means, individually and collectively, each certificated Note deposited with or on behalf of and registered in
the name of the Depositary or its nominee, substantially in the forms of Exhibit A and Exhibit B hereto and each of which has the “Schedule of Exchanges of Interests in the Global Note” attached thereto. As of the date of
this Supplemental Indenture, all of the Notes are represented by one or more Global Notes. 
 “Hedging Obligations” means,
with respect to any Person, the obligations of such Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements and (ii) other agreements or arrangements designed to protect such Person
against fluctuations in interest or currency exchange rates. 
 “Indebtedness” means, with respect to any Person, without
duplication, any indebtedness of such Person in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof), except any such balance that constitutes
an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness (other than letters of credit) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP (but does not include
contingent liabilities which appear only in a footnote to a balance sheet). 
 “Indenture” has the meaning assigned to it
in the preamble hereto. 

  
 2 

 “Initial Interest Period” means the period from and including the date of
this Supplemental Indenture to, but excluding, the first Floating Rate Interest Payment Date. 
 “Initial Notes” means
(i) with respect to the Floating Rate Notes, the first $350,000,000 aggregate principal amount of the Floating Rate Notes and (ii) with respect to the 2021 Notes, the first $1,000,000,000 aggregate principal amount of the 2021 Notes, in
each case, issued under the Indenture on the date hereof. 
 “Interest Determination Date” means, with respect to any
Interest Period, the second London Business Day immediately preceding the first day of such Interest Period. 
 “Interest
Period” means the period from and including a Floating Rate Interest Payment Date to, but excluding, the immediately succeeding Floating Rate Interest Payment Date; provided that the final Interest Period for the Floating Rate Notes
will be the period from and including the Floating Rate Interest Payment Date immediately preceding the maturity date of the Floating Rate Notes to, but excluding, the maturity date. 

“LIBOR” means the London Interbank Offered Rate. 

“London Business Day” means a day that is a Monday, Tuesday, Wednesday, Thursday or Friday and is a day on which dealings in
deposits in U.S. dollars are transacted in the London interbank market. 
 “Non-Domestic
Entity” means a Person not organized or existing under the laws of the United States, any state thereof or the District of Columbia. 

“Notes” has the meaning assigned to it in the recitals hereto. For purposes of the Indenture, all references to the notes to
be issued or authenticated upon transfer or replacement of or in exchange for Notes shall be deemed to refer to Notes. In addition, unless the context otherwise requires, all references to the “Notes” shall include the Initial Notes and
any Additional Notes. 
 “Permitted Liens” means: 
  

	 	(i)	 Liens existing on the date of the Base Indenture; 

 

	 	(ii)	 Liens to secure securities, debt instruments or other Indebtedness of one or more Receivables Entities or
guarantees thereof; 

  

	 	(iii)	 Liens to secure Indebtedness under a Residual Funding Facility or guarantees thereof; 

 

	 	(iv)	 Liens to secure Indebtedness and other obligations (including letter of credit indemnity obligations and
obligations relating to expenses with respect to debt facilities) under Bank Lines or guarantees thereof; 

  

	 	(v)	 Liens on spread accounts, reserve accounts and other credit enhancement assets, Liens on the Capital Stock of
Subsidiaries of the Company, substantially all of the assets of which are spread accounts, reserve accounts and/or other credit enhancement assets, and Liens on interests in one or more Receivables Entities, in each case incurred in connection with
Credit Enhancement Agreements, Residual Funding Facilities or issuances of securities, debt instruments or other Indebtedness by a Receivables Entity; 

  

	 	(vi)	 Liens on property existing at the time of acquisition of such property (including properties acquired through
merger or consolidation); 

  

	 	(vii)	 Liens securing Indebtedness incurred to finance the construction or purchase of property of the Company or any
of its Subsidiaries (but excluding Capital Stock of another Person); provided that any such Lien may not extend to any other property owned by the Company or any of its Subsidiaries at the time the Lien is incurred, and the Indebtedness
secured by the Lien may not be incurred more than 180 days after the later of the acquisition or completion of construction of the property subject to the Lien; 

  
 3 

	 	(viii)	 Liens securing Hedging Obligations; 

 

	 	(ix)	 Liens to secure any Refinancing Indebtedness incurred to refinance any Indebtedness and all other obligations
secured by any Lien referred to in the foregoing clause (i); provided that such new Lien shall be limited to all or part of the same property or type of property that secured the original Lien, and the Indebtedness secured by such Lien at
such time is not increased to any amount greater than the outstanding principal amount or, if greater, committed amount of the Indebtedness described under clause (i) of this definition at the time the original Lien became a Permitted Lien;

  

	 	(x)	 Liens in favor of the Company or any of its Restricted Subsidiaries; 

 

	 	(xi)	 Liens of the Company or any Restricted Subsidiary of the Company with respect to obligations that do not exceed
five percent of Consolidated Net Tangible Assets; 

  

	 	(xii)	 Liens to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other
obligations of a like nature incurred in the ordinary course of business (including, without limitation, landlord Liens on leased properties); 

  

	 	(xiii)	 Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being
contested in good faith by appropriate proceedings; provided, that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; 

 

	 	(xiv)	 Liens imposed by law or regulation, such as carriers’, warehousemen’s, materialmen’s,
repairmen’s and mechanics’ and similar Liens, in each case for sums not yet overdue for a period of more than 30 days or that are being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards
against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; provided, that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have
been made therefor; 

  

	 	(xv)	 Liens related to minor survey exceptions, minor encumbrances, ground leases, easements or reservations of, or
rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, drains, telegraph and telephone and cable television lines, gas and oil pipelines and
other similar purposes, or zoning, building codes or other restrictions (including, without limitation, minor defects or irregularities in title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the
business of such Person or to the ownership of its properties which were not incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the
operation of the business of such Person; 

  

	 	(xvi)	 Liens on equipment of the Company or any of its Restricted Subsidiaries granted in the ordinary course of
business; 

  

	 	(xvii)	 deposits made or other security provided to secure liabilities to insurance carriers under insurance or
self-insurance arrangements in the ordinary course of business; 

  

	 	(xviii)	 purported Liens evidenced by filings of precautionary UCC financing statements relating solely to operating
leases of personal property; 

  

	 	(xix)	 Liens evidenced by UCC financing statement filings (or similar filings) regarding or otherwise arising under
leases entered into by the Company or any Restricted Subsidiary in the ordinary course of business; (xx) Liens on accounts, payment intangibles, chattel paper, instruments and/or other Receivables granted in connection with sales of any of such
assets; and 

  
 4 

	 	(xxi)	 Liens on Receivables and related assets and proceeds thereof arising in connection with a Permitted Receivables
Financing. 

 “Permitted Receivables Financing” means any facility, arrangement, transaction or agreement
(i) pursuant to which the Company or any Restricted Subsidiary finances the acquisition or origination of Receivables with, or sells Receivables that it has acquired or originated to, a third party on terms that the Board of Directors has
concluded are customary and market-standard, and/or (ii) that grants Liens to, or permits filings of precautionary UCC financing statements by, the third party against the Company or its Restricted Subsidiaries, as applicable, under such
facility, arrangement, transaction or agreement relating to the subject Receivables, related assets and/or proceeds. 
 “Quotation
Agent” means a Reference Treasury Dealer appointed by the Company. 
 “Receivable” means each of the following:
(i) any right to payment of a monetary obligation, including, without limitation, any promissory note, financing agreement, installment sale contract, lease contract, insurance or service contract, or any credit, debit or charge card
receivable, and (ii) any assets related to such receivables, including, without limitation, any collateral securing, or property leased under, such receivables. 

“Receivables Entity” means each of the following: (i) any Person (whether or not a Subsidiary of the Company)
established for the purpose of transferring or holding Receivables or issuing securities, debt instruments or other Indebtedness backed by Receivables and/or Receivable-backed securities, regardless of whether such Person is an issuer of securities,
debt instruments or other Indebtedness; and (ii) any Subsidiary of the Company formed exclusively for the purpose of satisfying the requirements of Credit Enhancement Agreements, regardless of whether such Person is an issuer of securities,
debt instruments or other Indebtedness. 
 “Redemption Price” has the meaning assigned to it in Section 3.02(a)
hereto. 
 “Reference Treasury Dealer” means (i) any of BNP Paribas Securities Corp., Citigroup Global Markets Inc.
and Mizuho Securities USA 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 New York City (a “Primary Treasury
Dealer”), the Company will substitute therefor another Primary Treasury Dealer; (ii) a Primary Treasury Dealer selected by Credit Agricole Securities (USA) Inc. and its successors; and (iii) any other Primary Treasury Dealer(s)
selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by
such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange
for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund, other Indebtedness of the Company or any of its Restricted Subsidiaries. 

“Remaining Scheduled Payments” means the remaining scheduled payments of principal of and interest on the 2021 Notes called
for redemption that would be due after the related redemption date but for that redemption (exclusive of interest accrued and unpaid as of the date of redemption). 

“Residual Funding Facility” means any funding arrangement with a financial institution or institutions or other lenders or
purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness. 

“Restricted Subsidiary” means any Subsidiary of the Company that is not a Receivables Entity or Non-Domestic Entity. 

  
 5 

 “Supplemental Indenture” has the meaning assigned to it in the preamble
hereto. 
 “Three-Month LIBOR” shall be determined by the Calculation Agent for any Interest Period in the following
manner: 
  

	 	(i)	 LIBOR will be the rate for deposits in U.S. dollars for a period of three months, commencing on the first day
of such Interest Period, that appears on Reuters screen page “LIBOR01”, or any successor page, at approximately 11:00 a.m., London time, on the Interest Determination Date. 

 

	 	(ii)	 If no such rate appears on Reuters screen page “LIBOR01”, or any successor page, on the relevant
Interest Determination Date at approximately 11:00 a.m., London time, then the Calculation Agent shall request the principal London offices of each of four major reference banks in the London interbank market, selected by the Calculation Agent as
directed by the Company, to provide the Calculation Agent with its offered quotation for deposits in U.S. dollars for a period of three months, commencing on the first day of such Interest Period, to prime banks in the London interbank market at
approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. If at least two quotations are provided, LIBOR
determined on that Interest Determination Date will be the arithmetic mean of those quotations. If fewer than two quotations are provided, LIBOR will be determined for the first day of such Interest Period as the arithmetic mean of the rates quoted
at approximately 11:00 a.m., New York City time, on that Interest Determination Date, by three major banks in New York City, selected by the Calculation Agent as directed by the Company, for loans in U.S. dollars to leading European banks, for a
period of three months, commencing on the first day of such Interest Period, and in a principal amount that is representative of a single transaction in U.S. dollars in that market at that time. 

 

	 	(iii)	 Notwithstanding paragraph (ii) above, if the Calculation Agent determines that LIBOR has been permanently
discontinued, the Calculation Agent will use, as a replacement for LIBOR for each future Interest Period, an alternative rate selected by the central bank, reserve bank, monetary authority or any similar institution (including any committee or
working group thereof) to replace LIBOR, that is consistent with accepted market practice (the “Alternative Rate”). As part of such replacement, the Calculation Agent will make any adjustments to the Alternative Rate or the spread
thereon, as well as the Business Day convention, Interest Period, Interest Determination Date and related provisions and definitions, in each case that are consistent with accepted market practice for the use of the Alternative Rate
(“Adjustments”). If the Calculation Agent determines that there is no clear market consensus as to an Alternative Rate or Adjustments thereto, then (a) the Calculation Agent may elect to resign as Calculation Agent, in which
case we will appoint a successor Calculation Agent, and (b) the interest rate will be the same as LIBOR plus the spread thereon on the immediately preceding Interest Determination Date or, if LIBOR was not available on such Interest
Determination Date, the interest rate will be the same as LIBOR plus the spread thereon on the last Interest Determination Date for which LIBOR was available. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, calculated by the Quotation Agent on the third Business Day preceding the redemption date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date. 

  
 6 

 “Trustee” means Wells Fargo Bank, National Association, until a successor
replaces it in accordance with the applicable provisions of this Indenture, and thereafter means the successor serving thereunder. 

Section 1.02 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA have the meanings so assigned to them. 
 Section 1.03 Rules of Construction. 

Unless the context otherwise requires: 

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

(b)    “or” is not exclusive; 

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

(d)    provisions apply to successive events and transactions; and 

(e)    references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement or
successor sections or rules adopted by the SEC from time to time. 
 Section 1.04 Relationship with Base Indenture. 

The terms and provisions contained in the Base Indenture shall constitute, and are hereby expressly made, a part of this Supplemental
Indenture, and the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of the Base Indenture conflicts
with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. 

ARTICLE 2 
 THE NOTES 

Section 2.01 Establishment, Form and Dating. 

(a)    There is hereby established two new series of Securities to be issued under the Base Indenture, to be designated as
(i) the Company’s Floating Rate Notes due 2021 and (ii) the Company’s 4.200% Senior Notes due 2021. 

(b)    There are to be authenticated and delivered (i) $350,000,000 principal amount of Floating Rate Notes and
(ii) $1,000,000,000 principal amount of 2021 Notes, and such principal amount of each series of Notes may be increased from time to time pursuant to Section 2.02 of the Base Indenture by the issuance of Additional Notes. Any such
Additional Notes will have the same interest rate, maturity and other terms as the Initial Notes of such series, except, in some cases, for their issue price and, if applicable, the initial interest accrual date and the initial interest payment
date, and shall constitute a single series of Securities with the Initial Notes of such series; provided that if such Additional Notes are not fungible with the applicable series of Initial Notes for U.S. federal income tax purposes, they
will have a separate CUSIP number. No Notes shall be authenticated and delivered in addition to Notes for the principal amount as so increased except as provided by Sections 2.09, 2.10, 2.13 or 3.08 of the Base Indenture. The Notes shall be
senior debt securities and shall be issued in fully registered form. 
 (c)    The Floating Rate Notes and the
Trustee’s certificate of authentication with respect thereto will be substantially in the form of Exhibit A hereto, and the 2021 Notes and the Trustee’s certificate of 

  
 7 

 
authentication with respect thereto will be substantially in the form of Exhibit B hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule
or usage. Each Note will be dated the date of its authentication, and except as provided in Section 2.09 of the Base Indenture, will be issued in the form of one or more Global Notes. The principal of, and any premium or interest on, the Notes
shall be payable in U.S. dollars. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

(d)    The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of the
Indenture and the Company and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions
of the Indenture, the provisions of the Indenture shall govern and be controlling. 
 Section 2.02 Registrar and Paying Agent.

 (a)    The Company will maintain a Registrar and Paying Agent with respect to the Notes. The Registrar will keep a
register with respect to the Notes and of their transfer and exchange. 
 (b)    The Company initially appoints The
Depository Trust Company to act as Depositary with respect to the Global Notes. 
 (c)    The Company initially appoints
the Trustee to act as the Registrar and Paying Agent with respect to the Notes and to act as custodian for the Depositary with respect to the Global Notes. 

ARTICLE 3 
 REDEMPTION OF NOTES

 Section 3.01 Optional Redemption. 

(a)    The Floating Rate Notes are not subject to optional redemption prior to maturity. 

(b)    The 2021 Notes may be redeemed, in whole or in part, at the option of the Company pursuant to Section 3.01(c)
hereof. Other than as specifically provided in this Article 3, any redemption pursuant to this Article 3 will be made pursuant to the provisions of Article 3 of the Base Indenture. 

(c)    Prior to maturity, the Company may redeem the 2021 Notes, in whole or in part from time to time, at a redemption
price (the “Redemption Price”) equal to the greater of: (1) 100% of the principal amount of the 2021 Notes to be redeemed; and (2) as determined by the Quotation Agent, the sum of the present values of the Remaining
Scheduled Payments, discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 20 basis points, plus, in each case, accrued and unpaid interest thereon to, but excluding, the date of redemption. 

(d)    If the redemption date is after a record date and on or prior to a corresponding interest payment date, interest
will be paid on the redemption date to the holder of record on the record date. 
 (e)    The Redemption Price will be
calculated assuming a 360-day year consisting of twelve 30-day months. 

(f)    The Trustee shall not be responsible for the calculation of such Redemption Price. The Company shall calculate such
Redemption Price and promptly notify the Trustee in writing thereof. 
 Section 3.02 Mandatory Redemption. 

(a)    The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

  
 8 

 ARTICLE 4 

COVENANTS 
 The Notes shall be
subject to the following covenants in addition to the provisions of Article 4 of the Base Indenture (provided that Section 4.07 of the Base Indenture shall not be applicable to the Notes): 

Section 4.01 Liens. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, create, incur or assume any Lien of any kind (other than
Permitted Liens) upon any of its or their property or assets, now owned or hereafter acquired, unless all payments due under this Indenture and the Notes are secured on an equal and ratable basis with the obligations so secured until such time as
such obligations giving rise to such Lien are no longer secured by a Lien. 
 Section 4.02 Corporate Existence. 

Subject to Article 5 of the Base Indenture, the Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect (i) its corporate existence in accordance with the organizational documents (as the same may be amended from time to time) of the Company and (ii) the rights (charter and statutory), licenses and franchises of the Company;
provided that the Company shall not be required to preserve any such right license or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and
its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 
 ARTICLE
5 
 DEFEASANCE 
 Legal
Defeasance of the Notes under Section 8.04 of the Base Indenture and Covenant Defeasance of the Notes under Section 8.05 of the Base Indenture shall be applicable to the Notes, and the Company may at its option by a resolution of the Board
of Directors, at any time, with respect to any series of the Notes, elect to have Section 8.04 or Section 8.05 of the Base Indenture be applied to the outstanding Notes of such series upon compliance with the conditions set forth in
Section 8.06 of the Base Indenture. Article 4 of this Supplemental Indenture shall be subject to Covenant Defeasance under Section 8.05 of the Base Indenture. 

ARTICLE 6 
 NO GUARANTEES 

The provisions of Article 10 of the Base Indenture shall be inapplicable to the Notes. 

ARTICLE 7 
 MISCELLANEOUS 

Section 7.01 Governing Law. 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE NOTES WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

  
 9 

 Section 7.02 Successors. 

All agreements of the Company in this Supplemental Indenture and the Notes will bind its successors. All agreements of the Trustee in this
Supplemental Indenture will bind its successors. 
 Section 7.03 Severability. 

In case any provision in this Supplemental Indenture or in the Notes is invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions will not in any way be affected or impaired thereby. 
 Section 7.04 Counterpart
Originals. 
 The parties may sign any number of copies of this Supplemental Indenture. Each signed copy will be an original, but all of
them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or .pdf transmission shall constitute effective execution and delivery of this instrument as to the parties hereto
and may be used in lieu of the original instrument for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their original signatures for all purposes. 

Section 7.05 Table of Contents, Headings, Etc. 

The Table of Contents and headings of the Articles and Sections of this Supplemental Indenture have been inserted for convenience of reference
only, are not to be considered a part of this Indenture and will in no way modify or restrict any of the terms or provisions hereof. 

Section 7.06 Calculation Agent. 

The Calculation Agent’s determination of any interest rate and its calculation of the amount of interest for any Floating Rate Interest
Period will be final and binding in the absence of manifest error. All percentages resulting from any calculation are to be rounded to the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point rounded upward. Dollar amounts used in the calculation are to be rounded to the nearest cent (with one-half cent being rounded
upward). So long as Three-Month LIBOR is required to be determined with respect to the Floating Rate Notes, there will at all times be a Calculation Agent. In the event that any then-acting Calculation Agent shall be unable or unwilling to act, or
that such Calculation Agent shall fail duly to establish the Three-Month LIBOR for any Interest Period, or that the Company proposes to remove such Calculation Agent, the Company shall appoint the Company or another person which is a bank, trust
company, investment banking firm or other financial institution to act as the Calculation Agent. 
 [Signature Pages Follow] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date set forth above. 
  

			
	GENERAL MOTORS FINANCIAL COMPANY, INC.
		
	By:	 	/s/ Richard A. Gokenbach, Jr.
	Name:	 	Richard A. Gokenbach, Jr.
	Title:	 	Executive Vice President and Treasurer

  
 [Signature Page to
Supplemental Indenture] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	/s/ Gregory S. Clarke
	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

  
 [Signature Page to
Supplemental Indenture] 

 Exhibit A 

THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF, AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN
SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO GENERAL MOTORS FINANCIAL COMPANY, 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.1 

BY ITS ACQUISITION AND HOLDING OF THIS DEBT SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) THE HOLDER
IS NOT ACQUIRING OR HOLDING THE SECURITY FOR OR ON BEHALF OF, AND NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY, OR ANY INTEREST THEREIN, 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”), 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”) 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 (COLLECTIVELY, “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, HOLDING, AND SUBSEQUENT DISPOSITION 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. 

 

	1 	 Insert in Global Notes only. 

			
	CUSIP No.:	  	37045X CN4
	ISIN No.:	  	US37045XCN49

 Floating Rate Note due 2021 
  

			
	No. R-[        ]	  	$[                    ]

 GENERAL MOTORS FINANCIAL COMPANY, INC. promises to pay to [CEDE & CO.]2 or registered assigns, the principal sum of $[                    ][(subject to the
decreases and increases in principal amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto)]3 on November 6, 2021. 

Interest Payment Dates: February 6, May 6, August 6 and November 6, commencing February 6, 2019. 

Interest Rate: The interest rate for the Initial Interest Period will be Three-Month LIBOR, as determined on November 2, 2018, plus 1.100% per annum.
Thereafter, the interest rate for any Interest Period will be Three-Month LIBOR, as determined on the applicable Interest Determination Date, plus 1.100% per annum. The interest rate will be reset quarterly on each Interest Payment Date. 

Record Dates: 15 calendar days prior to each Floating Rate Interest Payment Date. 
  

 
  

	2 	 Insert in Global Notes only. 

	3 	 Insert in Global Notes only. 

  
 A-2 

 Dated: 
  

					
	GENERAL MOTORS FINANCIAL COMPANY, INC.
		
	By:	 	 
	Name:	 	Richard A. Gokenbach, Jr.
	Title:	 	Executive Vice President and Treasurer

  
 A-3 

 This is one of the Global 

Notes referred to in the 
 within-mentioned Indenture: 

Dated: 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 

as Trustee 
  

					
		
	By:	 	 
	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

  
 A-4 

 [Back of Note] 

Floating Rate Notes due 2021 

This Note is one of a duly authorized issue of Securities of General Motors Financial Company, Inc. (the “Company,” which
term includes any successor Person under the Base Indenture hereinafter referred to), issued and issuable in one or more series under an indenture, dated as of October 13, 2015 (as amended or supplemented to the date hereof, the “Base
Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities issued thereunder and of the terms upon
which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as Floating Rate Notes due 2021 (the “Notes”), which was issued under the Thirty-Third Supplemental
Indenture, dated as of November 6, 2018, to the Base Indenture (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) and which is initially limited to $350,000,000 in principal
amount. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture. 

1.    INTEREST. The Notes will bear interest at a floating rate, reset quarterly, equal to Three-Month LIBOR plus
1.100%. The Company will pay interest quarterly in arrears on February 6, May 6, August 6 and November 6 of each year, commencing on February 6, 2019, and at maturity. If the February 6, May 6, August 6 or
November 6 of any year is not a Business Day, then the next succeeding Business Day will be the applicable Floating Rate Interest Payment Date and interest on the Notes will be paid on such next succeeding Business Day (unless such next
succeeding Business Day falls in the succeeding calendar month, in which case the applicable Floating Rate Interest Payment Date will be the Business Day immediately preceding such February 6, May 6, August 6 or November 6, and
interest on the Notes will be paid on such immediately preceding Business Day). If the maturity date of the Notes is not a Business Day, the payment of principal of, and interest on, the Notes will be made on the next succeeding Business Day, and no
interest will accrue for the period from and after the maturity date. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 6, 2018; provided that if
there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Floating Rate Interest Payment Date, interest shall accrue from such next
succeeding Floating Rate Interest Payment Date; provided, further, that the first Floating Rate Interest Payment Date shall be February 6, 2019. The Company shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy
Law) on overdue installments of interest from time to time on demand at the same rate to the extent lawful. Notwithstanding the foregoing, the interest rate on the Notes will in no event be higher than the maximum rate permitted by New York law as
the same may be modified by U.S. law of general application. Interest on the Notes will be computed on the basis of the actual number of days elapsed over a 360-day year. 

2.    METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who
are registered Holders of Notes at the close of business on the record date on the next preceding Floating Rate Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Floating Rate Interest Payment Date,
except as provided in Section 2.08 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest, if any, at the office or agency of the Trustee maintained for such purpose within
the City and State of New York. The Company will make payments of principal, premium, if any, and interest, if any, in 

  
 A-5 

 
respect of the Notes in book-entry form to the Depositary in immediately available funds, while disbursement of such payments to owners of beneficial interests in Notes in book-entry form will be
made in accordance with the procedures of the Depositary and its participants in effect from time to time. 

3.    PAYING AGENT, CALCULATION AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee
under the Indenture, will act as Paying Agent, Calculation Agent and Registrar. The Company may change any Paying Agent, Calculation Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such
capacity. 
 4.    INDENTURE. The Company issued the Notes under the Indenture. The terms of the Notes include
those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of
this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are general unsecured obligations of the Company and are not limited as to aggregate principal amount. The
Notes, including any Additional Notes issued hereunder, shall contain the terms set forth herein and in the Indenture and shall constitute and be treated as one series of Notes for all purposes. 

5.    OPTIONAL REDEMPTION. The Notes not are subject to optional redemption prior to maturity. 

6.    MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption payments with respect to
the Notes. 
 7.    DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents, and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the
period between a record date and the corresponding Floating Rate Interest Payment Date. 
 8.    PERSONS DEEMED
OWNERS. The registered Holder of a Note will be treated as its owner for all purposes. 
 9.    AMENDMENT,
SUPPLEMENT AND WAIVER. The Indenture or the Notes may be amended or supplemented as provided in Article 9 of the Base Indenture. 

10.    DEFAULTS AND REMEDIES. The terms of Article 6 of the Base Indenture shall be applicable to the Notes. 

11.    TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to,
accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

12.    NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or shareholder of the Company, as
such, shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

  
 A-6 

 13.    AUTHENTICATION. This Note shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent. 
 14.    ABBREVIATIONS.
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in
common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 15.    CUSIP NUMBERS.
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience
to Holders. No representation is made as to the accuracy of such numbers, either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

16.    NOTICES. The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to: 
 General Motors Financial Company, Inc. 

801 Cherry Street, Suite 3500 

Fort Worth, Texas 76102 

Attention: Chief Financial Officer 

17.    GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND
THE INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

  
 A-7 

 Assignment Form 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to: 

 
       

 
 (Insert assignee’s soc. sec. or
tax I.D. no.) 
  
       

 
  

      

 
  

      

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

			
	and irrevocably appoint:	 	 

 to transfer this Note on the books of the Registrar. The agent may substitute another to act for him. 

 

			
	Date:	 	 

  

			
	Your Signature:	 	 

 (Sign exactly as your name appears on the face of this Note) 

  
 A-8 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of Decrease in
Principal
Amount of this
Global Note
	 	 Amount of Increase in
Principal
Amount of this
Global Note
	  	 Principal Amount of this
Global Note
Following
Such Decrease (or
Increase)
	  	 Signature of Authorized
Officer of
Trustee or
Note Custodian

		 		 		  		  	

  
 A-9 

 Exhibit B 

THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF, AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN
SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO GENERAL MOTORS FINANCIAL COMPANY, 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.4 

BY ITS ACQUISITION AND HOLDING OF THIS DEBT SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) THE HOLDER
IS NOT ACQUIRING OR HOLDING THE SECURITY FOR OR ON BEHALF OF, AND NO PORTION OF THE ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY, OR ANY INTEREST THEREIN, 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”), 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”) 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 (COLLECTIVELY, “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, HOLDING, AND SUBSEQUENT DISPOSITION 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. 

 
  

	4 	 Insert in Global Notes only. 

			
	CUSIP No.:	  	37045X CP9
	ISIN No.:	  	US37045XCP96

 4.200% Senior Notes due 2021 
  

			
	No. R-[        ]	  	$[                    ]

 GENERAL MOTORS FINANCIAL COMPANY, INC. promises to pay to [CEDE & CO.]5 or registered assigns, the principal sum of $[                    ][(subject to the
decreases and increases in principal amount set forth on the Schedule of Exchanges of Interests in the Global Note attached hereto)]6 on November 6, 2021. 

Interest Payment Dates: May 6 and November 6, commencing May 6, 2019. 

Record Dates: 15 calendar days prior to each Fixed Rate Interest Payment Date. 
  

 
  

	5 	 Insert in Global Notes only. 

	6 	 Insert in Global Notes only. 

  
 B-2 

 Dated: 
  

					
	GENERAL MOTORS FINANCIAL COMPANY, INC.
		
	By:	 	 
	Name:	 	Richard A. Gokenbach, Jr.
	Title:	 	Executive Vice President and Treasurer

  
 B-3 

 This is one of the Global 

Notes referred to in the 
 within-mentioned Indenture: 

Dated: 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 

as Trustee 
  

					
		
	By:	 	 
	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

  
 B-4 

 [Back of Note] 

4.200% Senior Note due 2021 

This Note is one of a duly authorized issue of Securities of General Motors Financial Company, Inc. (the “Company,” which
term includes any successor Person under the Base Indenture hereinafter referred to), issued and issuable in one or more series under an indenture, dated as of October 13, 2015 (as amended or supplemented to the date hereof, the “Base
Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities issued thereunder and of the terms upon
which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as 4.200% Senior Notes due 2021 (the “Notes”), which was issued under the Thirty-Third Supplemental
Indenture, dated as of November 6, 2018, to the Base Indenture (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) and which is initially limited to $1,000,000,000 in principal
amount. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture. 

1.    INTEREST. The Notes will bear interest at 4.200% per annum. The Company will pay interest semi-annually in
arrears on May 6 and November 6 of each year, commencing on May 6, 2019, and at maturity. If any Fixed Rate Interest Payment Date, stated maturity date or earlier redemption date for the Notes is not a Business Day, the Company will
make the required payment of principal, premium, if any, and interest, if any, on the next succeeding Business Day, and no interest will accrue on the amount so payable for the intervening period. Interest on the Notes will accrue from and including
the most recent date to which interest has been paid or, if no interest has been paid, from November 6, 2018; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record
date referred to on the face hereof and the next succeeding Fixed Rate Interest Payment Date, interest shall accrue from such next succeeding Fixed Rate Interest Payment Date; provided, further, that the first Fixed Rate Interest
Payment Date shall be May 6, 2019. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum
in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest from time to time on demand at the same rate to the extent lawful. Interest
will be computed on the basis of a 360-day year of twelve 30-day months. 

2.    METHOD OF PAYMENT. The Company will pay interest on the Notes (except defaulted interest) to the Persons who
are registered Holders of Notes at the close of business on the record date on the next preceding Fixed Rate Interest Payment Date, even if such Notes are cancelled after such Record Date and on or before such Interest Payment Date, except as
provided in Section 2.08 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, and interest, if any, at the office or agency of the Trustee maintained for such purpose within the City
and State of New York. The Company will make payments of principal, premium, if any, and interest, if any, in respect of the Notes in book-entry form to the Depositary in immediately available funds, while disbursement of such payments to owners of
beneficial interests in Notes in book-entry form will be made in accordance with the procedures of the Depositary and its participants in effect from time to time. 

3.    PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the
Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

  
 B-5 

 4.    INDENTURE. The Company issued the Notes under the
Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of
such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are general unsecured obligations of the Company and are not
limited as to aggregate principal amount. The Notes, including any Additional Notes issued hereunder, shall contain the terms set forth herein and in the Indenture and shall constitute and be treated as one series of Notes for all purposes. 

5.    OPTIONAL REDEMPTION. The Notes are subject to redemption as provided in Article 3 of the Indenture.

 6.    MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption payments with
respect to the Notes. 
 7.    DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents, and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or
portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed
or during the period between a record date and the corresponding Fixed Rate Interest Payment Date. 
 8.    PERSONS
DEEMED OWNERS. The registered Holder of a Note will be treated as its owner for all purposes. 
 9.    AMENDMENT,
SUPPLEMENT AND WAIVER. The Indenture or the Notes may be amended or supplemented as provided in Article 9 of the Base Indenture. 

10.    DEFAULTS AND REMEDIES. The terms of Article 6 of the Base Indenture shall be applicable to the Notes. 

11.    TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to,
accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

12.    NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or shareholder of the Company, as
such, shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

13.    AUTHENTICATION. This Note shall not be valid until authenticated by the manual signature of the Trustee or
an authenticating agent. 
 14.    ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or
an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act). 

  
 B-6 

 15.    CUSIP NUMBERS. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to
the accuracy of such numbers, either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

16.    NOTICES. The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to: 
 General Motors Financial Company, Inc. 

801 Cherry Street, Suite 3500 

Fort Worth, Texas 76102 

Attention: Chief Financial Officer 

17.    GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS NOTE AND
THE INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

  
 B-7 

 Assignment Form 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to: 

 
       

 
 (Insert assignee’s soc. sec. or
tax I.D. no.) 
  
       

 
  

      

 
  

      

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

			
	and irrevocably appoint:	 	 

 to transfer this Note on the books of the Registrar. The agent may substitute another to act for him. 

 

			
	Date:	 	 

  

			
	Your Signature:	 	 

 (Sign exactly as your name appears on the face of this Note) 

  
 B-8 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of Decrease in
Principal
Amount of this
Global Note
	 	 Amount of Increase in
Principal
Amount of this
Global Note
	  	 Principal Amount of this
Global Note
Following
Such Decrease (or
Increase)
	  	 Signature of Authorized
Officer of
Trustee or
Note Custodian

		 		 		  		  	

  
 B-9irwd_Ex10_1

		
			EXHIBIT 10.1
		

		
			 
		

		
			IRONWOOD PHARMACEUTICALS, INC.
		

		
			 
		

		
			Stock Option Grant Notice
		

		
			 
		

		
			Stock Option Grant under the
		

		
			Amended and Restated 2010 Employee, Director and Consultant Equity Incentive Plan
		

		
			 
		

		
			Name and Address of Participant:
		

		
			Grant Number:
		

		
			Plan: 2010 Plan
		

		
			 
		

		
			Ironwood Pharmaceuticals, Inc. (the “Company”) hereby grants to the above-named Participant an option to purchase shares of Class A Common Stock of the Company, subject to the additional terms and conditions in the Stock Option Agreement and the Amended and Restated 2010 Employee, Director and Consultant Equity Incentive Plan (the “2010 Plan”) which are delivered concurrently herewith and incorporated by reference, as follows:
		

		
			 
		

		
			Date of Grant:
		

		
			Type of Option:
		

		
			Total Number of Shares for which this Option is exercisable (the “Shares”):
		

		
			Exercise Price Per Share:
		

		
			Vesting Commencement Date:
		

		
			Option Expiration Date:
		

		
			 
		

		
			Vesting Schedule: This option will become exercisable, or “vest”, as follows, provided the Participant is an employee, director or Consultant of the Company or of an Affiliate on the applicable vesting date:
		

		
			 
		

		
			If your option is intended to qualify to the extent possible as an “incentive stock option”, or ISO, under the Internal Revenue Code (the “Code”) and the Company determines on the grant date, that some, but not all, of your option shares qualify as such because the aggregate fair market value (as determined on the grant date) of your option shares that are exercisable during any calendar year exceeds the $100,000 limit set forth in the Code, your option will be divided and documented as two separate option grants with the same grant date: an ISO for the qualifying shares and a nonqualified stock option for the remainder of the shares. In the event that you have two such related options, for purposes of the vesting schedule set forth above, the word “Shares” means the sum of your ISO shares and the corresponding nonqualified shares. The number of shares exercisable under each option is displayed in your E*Trade stock plan account.
		

		
			 
		

		
			

		 

 

By your acceptance of this Stock Option Grant, you acknowledge receipt of this Stock Option Grant Notice, the Stock Option Agreement, the 2010 Plan (collectively, the “Grant Documents”) and the prospectus for the 2010 Plan, and you further agree to be bound by all of the terms and conditions of the Grant Documents.
		

		
			 
		

		
			      
		

			
					
						IRONWOOD PHARMACEUTICALS, INC.

					
						 

					
					
						 

					
						 

				
	
					
						 

					
						 

					
					
						 

					
						 

				
	
					
						By:

					
						 

					
					
						 

					
						 

					
					
						 

					
						 

				
	
					
						Name:

					
						 

					
					
						 

					
						 

					
					
						 

					
						 

				
	
					
						Title:

					
						 

					
					
						 

					
						 

					
					
						 

					
						 

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

 

IRONWOOD PHARMACEUTICALS, INC.
		

		
			 
		

		
			STOCK OPTION AGREEMENT - INCORPORATED TERMS AND CONDITIONS
		

		
			 
		

		
			AGREEMENT made as of the date of grant set forth in the Stock Option Grant Notice between Ironwood Pharmaceuticals, Inc. (the “Company”), a Delaware corporation, and the individual whose name appears on the Stock Option Grant Notice (the “Participant”).
		

		
			 
		

		
			WHEREAS, the Company desires to grant to the Participant an Option to purchase shares of its Class A Common Stock, $0.001 par value per share (the “Shares”), under and for the purposes set forth in the Company’s Amended and Restated 2010 Employee, Director and Consultant Equity Incentive Plan (the “Plan”);
		

		
			 
		

		
			WHEREAS, the Company and the Participant understand and agree that any terms used and not defined herein have the same meanings as in the Plan; and
		

		
			 
		

		
			WHEREAS, the Company and the Participant each intend that the Option granted herein shall be of the type set forth in the Stock Option Grant Notice.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and subject to the Participant’s continued compliance with any restrictive covenants contained in the Participant’s Employee Agreement or other agreement with the Company, the parties hereto hereby agree as follows:
		

		
			 
		

		
			1.GRANT OF OPTION.
		

		
			 
		

		
			The Company hereby grants to the Participant the right and option to purchase all or any part of an aggregate of the number of Shares set forth in the Stock Option Grant Notice, on the terms and conditions and subject to all the limitations set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by reference.  The Participant acknowledges receipt of a copy of the Plan.
		

		
			 
		

		
			2.EXERCISE PRICE.
		

		
			 
		

		
			The exercise price of the Shares covered by the Option shall be the amount per Share set forth in the Stock Option Grant Notice, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares after the date hereof (the “Exercise Price”).  Payment shall be made in accordance with Paragraph 9 of the Plan.
		

		
			 
		

		
			3.EXERCISABILITY OF OPTION.
		

		
			 
		

		
			Subject to the terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become exercisable as set forth in the Stock Option Grant Notice and is subject to the other terms and conditions of this Agreement and the Plan.
		

		
			 
		

		
			

		 

 

		

		
			 
		

		
			4.TERM OF OPTION.
		

		
			 
		

		
			This Option shall terminate ten years from the date of this Agreement or, if this Option is designated in the Stock Option Grant Notice as an ISO and the Participant owns as of the date hereof more than 10% of the total combined voting power of all classes of capital stock of the Company or an Affiliate, five years from the date of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan.
		

		
			 
		

		
			If the Participant ceases to be an employee, director or Consultant of the Company or of an Affiliate for any reason other than the death or Disability of the Participant, or termination of the Participant for Cause,  the Option may be exercised, if it has not previously terminated, within three months after the date the Participant ceases to provide service to the Company or an Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter except as set forth below.  In such event, the Option shall be exercisable only to the extent that the Option has become exercisable and is in effect at the date of such cessation of service.
		

		
			 
		

		
			If this Option is designated in the Stock Option Grant Notice as an ISO and the Participant ceases to be an employee of the Company or of an Affiliate but continues after termination of employment to provide service to the Company or an Affiliate as a director or Consultant, this Option shall continue to vest in accordance with Section 3 above as if this Option had not terminated until the Participant is no longer providing services to the Company.  In such case, this Option shall automatically convert and be deemed a Non-Qualified Option as of the date that is three months from termination of the Participant's employment and this Option shall continue on the same terms and conditions set forth herein until such Participant is no longer providing service to the Company or an Affiliate.
		

		
			 
		

		
			Notwithstanding the foregoing, in the event of the Participant’s Disability or death within three months after the termination of service, the Participant or the Participant’s Survivors may exercise the Option within one year after the date of the Participant’s termination of service, but in no event after the date of expiration of the term of the Option.
		

		
			 
		

		
			In the event the Participant’s service is terminated by the Company or an Affiliate for Cause, the Participant’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Participant is notified his or her service is terminated for Cause, and this Option shall thereupon terminate.  Notwithstanding anything herein to the contrary, if subsequent to the Participant’s termination, but prior to the exercise of the Option, the Administrator determines that, either prior or subsequent to the Participant’s termination, the Participant engaged in conduct which would constitute Cause, then the Participant shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate.
		

		
			 
		

		
			In the event of the Disability of the Participant, as determined in accordance with the Plan, the Option shall be exercisable within one year after the Participant’s termination of service or, if earlier, within the term originally prescribed by the Option.  In such event, the Option 

		 

 

shall be exercisable to the extent that the Option has become exercisable but has not been exercised as of the date of Disability.
		

		
			 
		

		
			In the event of the death of the Participant while an employee, director or Consultant of the Company or of an Affiliate, the Option shall be exercisable by the Participant’s Survivors within one year after the date of death of the Participant or, if earlier, within the originally prescribed term of the Option.  In such event, the Option will accelerate and vest in full, and shall be exercisable to the extent that the Option has become exercisable but has not been exercised as of the date of death. 
		

		
			 
		

		
			5.METHOD OF EXERCISING OPTION.
		

		
			 
		

		
			Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto (or in such other form acceptable to the Company, which may include electronic notice).  Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option (which signature may be provided electronically in a form acceptable to the Company).  Payment of the Exercise Price for such Shares shall be made in accordance with Paragraph 9 of the Plan.  The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws).  The Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register in the name of the person so exercising the Option (or, if the Option shall be exercised by the Participant and if the Participant shall so request in the notice exercising the Option, shall be registered in the Company’s share register in the name of the Participant and another person jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option.  In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than the Participant, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option.  All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable.
		

		
			 
		

		
			6.PARTIAL EXERCISE.
		

		
			 
		

		
			Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except that no fractional share shall be issued pursuant to this Option.
		

		
			 
		

		
			7.NON‐ASSIGNABILITY.
		

		
			 
		

		
			The Option shall not be transferable by the Participant otherwise than by will or by the laws of descent and distribution.  If this Option is a Non-Qualified Option then it may also be transferred pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security Act or the rules thereunder.  Except as provided above in this paragraph, the Option shall be exercisable, during the Participant’s lifetime, only by the 

		 

 

Participant (or, in the event of legal incapacity or incompetency, by the Participant’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process.  Any attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be null and void.
		

		
			 
		

		
			8.NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE.
		

		
			 
		

		
			The Participant shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Participant.  Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration.
		

		
			 
		

		
			9.ADJUSTMENTS.
		

		
			 
		

		
			The Plan contains provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers.  Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference.
		

		
			 
		

		
			10.TAXES.
		

		
			 
		

		
			The Participant acknowledges that any income or other taxes due from him or her with respect to this Option or the Shares issuable pursuant to this Option shall be the Participant’s responsibility.  The Participant acknowledges and agrees that (i) the Participant was free to use professional advisors of his or her choice in connection with this Agreement, has received advice from his or her professional advisors in connection with this Agreement, understands its meaning and import, and is entering into this Agreement freely and without coercion or duress; (ii) the Participant has not received and is not relying upon any advice, representations or assurances made by or on behalf of the Company or any Affiliate or any employee of or counsel to the Company or any Affiliate regarding any tax or other effects or implications of the Option, the Shares or other matters contemplated by this Agreement and (iii) neither the Administrator, the Company, its Affiliates, nor any of its officers or directors, shall be held liable for any applicable costs, taxes, or penalties associated with the Option if, in fact, the Internal Revenue Service were to determine that the Option constitutes deferred compensation under Section 409A of the Code.  
		

		
			 
		

		
			If this Option is designated in the Stock Option Grant Notice as an ISO and there is a Disqualifying Disposition (as defined in Section 15 below) or if the Option is converted into a Non-Qualified Option and such Non-Qualified Option is exercised, the Participant agrees that the Company may withhold from the Participant’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such amount that is considered compensation includable in such person’s gross income.  At the Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Participant on exercise of the Option.  The Participant further 

		 

 

agrees that, if the Company does not withhold an amount from the Participant’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Participant will reimburse the Company on demand, in cash, for the amount under-withheld.
		

		
			 
		

		
			11.PURCHASE FOR INVESTMENT.
		

		
			 
		

		
			Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively registered under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless the Company has determined that such exercise and issuance would be exempt from the registration requirements of the 1933 Act and until the following conditions have been fulfilled:
		

		
			 
		

		
			(a)The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend which shall be endorsed upon any certificate(s) evidencing the Shares issued pursuant to such exercise:
		

		
			 
		

		
			“The shares represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and
		

		
			 
		

		
			(b)If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise in compliance with the 1933 Act without registration thereunder.  Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including without limitation state securities or “blue sky” laws).
		

		
			 
		

		
			12.RESTRICTIONS ON TRANSFER OF SHARES.
		

		
			 
		

		
			12.1The Participant agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and such Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will not transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during 

		 

 

such period as is determined by the Company and the underwriters, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the Financial Industry Regulatory Authority, Inc. or similar rules thereto (such period, the “Lock-Up Period”).  Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and conditions.  Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the end of the Lock-Up Period.
		

		
			 
		

		
			12.2The Participant acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the service of the Participant by the Company, including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity.
		

		
			 
		

		
			13.NO OBLIGATION TO MAINTAIN RELATIONSHIP.
		

		
			 
		

		
			The Company is not by the Plan or this Option obligated to continue the Participant as an employee, director or Consultant of the Company or an Affiliate.  The Participant acknowledges:  (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Participant’s participation in the Plan is voluntary; (v) that the value of the Option is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and (vi) that the Option is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.
		

		
			 
		

		
			14.IF OPTION IS INTENDED TO BE AN ISO.  
		

		
			 
		

		
			If this Option is designated in the Stock Option Grant Notice as an ISO so that the Participant (or the Participant’s Survivors) may qualify for the favorable tax treatment provided to holders of Options that meet the standards of Section 422 of the Code then any provision of this Agreement or the Plan which conflicts with the Code so that this Option would not be deemed an ISO is null and void and any ambiguities shall be resolved so that the Option qualifies as an ISO.  The Participant should consult with the Participant’s own tax advisors regarding the tax effects of the Option and the requirements necessary to obtain favorable tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements.
		

		
			 
		

		
			

		 

 

		

		
			Notwithstanding the foregoing, to the extent that the Option is designated in the Stock Option Grant Notice as an ISO and is not deemed to be an ISO pursuant to Section 422(d) of the Code because the aggregate fair market value (determined as of the date hereof) of any of the Shares with respect to which this ISO is granted becomes exercisable for the first time during any calendar year in excess of $100,000, the portion of the Option representing such excess value shall be treated as a Non-Qualified Option and the Participant shall be deemed to have taxable income measured by the difference between the then fair market value of the Shares received upon exercise and the price paid for such Shares pursuant to this Agreement. 
		

		
			 
		

		
			Neither the Company nor any Affiliate shall have any liability to the Participant, or any other party, if the Option (or any part thereof) that is intended to be an ISO is not an ISO or for any action taken by the Administrator, including without limitation the conversion of an ISO to a Non-Qualified Option.
		

		
			 
		

		
			15.NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION OF AN ISO.
		

		
			 
		

		
			If this Option is designated in the Stock Option Grant Notice as an ISO then the Participant agrees to notify the Company in writing immediately after the Participant makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the ISO.  A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale) of such Shares before the later of (a) two years after the date the Participant was granted the ISO or (b) one year after the date the Participant acquired Shares by exercising the ISO, except as otherwise provided in Section 424(c) of the Code.  If the Participant has died before the Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter.
		

		
			 
		

		
			16.NOTICES.
		

		
			 
		

		
			Any notices required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows:
		

		
			 
		

		
			If to the Company: 
		

		
			 
		

		
			Ironwood Pharmaceuticals, Inc.
		

		
			301 Binney Street
		

		
			Cambridge, MA  02142
		

		
			Attention:  General Counsel
		

		
			 
		

		
			If to the Participant at the address set forth on the Stock Option Grant Notice 
		

		
			 
		

		
			or to such other address or addresses of which notice in the same manner has previously been given.  Any such notice shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail.
		

		
			 
		

		
			

		 

 

		

		
			17.GOVERNING LAW.
		

		
			 
		

		
			This Agreement shall be construed and enforced in accordance with the law of the State of Delaware, without giving effect to the conflict of law principles thereof.  For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction in Massachusetts and agree that such litigation shall be conducted in the state courts of Middlesex County, Massachusetts or the federal courts of the United States for the District of Massachusetts.
		

		
			 
		

		
			18.BENEFIT OF AGREEMENT.
		

		
			 
		

		
			Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto.
		

		
			 
		

		
			19.ENTIRE AGREEMENT.
		

		
			 
		

		
			This Agreement, together with the Stock Option Grant Notice and Plan, embody the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof.  No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however, in any event, this Agreement shall be subject to and governed by the Plan.
		

		
			 
		

		
			20.MODIFICATIONS AND AMENDMENTS.
		

		
			 
		

		
			The terms and provisions of this Agreement may be modified or amended as provided in the Plan.
		

		
			 
		

		
			21.WAIVERS AND CONSENTS.
		

		
			 
		

		
			Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions.  No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar.  Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent.
		

		
			 
		

		
			22.DATA PRIVACY.
		

		
			 
		

		
			By entering into this Agreement, the Participant:  (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of options 

		 

 

and the administration of the Plan; (ii) waives any data privacy rights he or she may have with respect to such information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form.
		

		
			 
		

		
			[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
		

		
			 
		

		
			

		 

 

		

		
			Exhibit A
		

		
			 
		

		
			 
		

		
			NOTICE OF EXERCISE OF STOCK OPTION
		

		
			under
		

		
			Amended and Restated 2010 Employee, Director and Consultant Equity Incentive Plan
		

		
			 
		

		
			[Form for Shares registered in the United States]
		

		
			 
		

		
			To:Ironwood Pharmaceuticals, Inc.
		

		
			 
		

		
			IMPORTANT NOTICE:  This form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the Securities and Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective.
		

		
			 
		

		
			 
		

		
			Ladies and Gentlemen:
		

		
			 
		

		
			I hereby exercise my Stock Option to purchase ___________ shares (the “Shares”) of the Class A Common Stock, $0.001 par value, of Ironwood Pharmaceuticals, Inc. (the “Company”), at the exercise price of $________ per share, pursuant to and subject to the terms of that Stock Option Grant Notice dated _______________, 20__.
		

		
			 
		

		
			I understand the nature of the investment I am making and the financial risks thereof.  I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws affecting the exercise of the Option and the purchase and subsequent sale of the Shares.
		

		
			 
		

		
			I am paying the option exercise price for the Shares as follows:
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Please issue the Shares (check one):
		

		
			 
		

		
			 to me; or 
		

		
			 
		

		
			 to me and ____________________________, as joint tenants with right of survivorship,
		

		
			 
		

		
			at the following address:
		

		
			 
		

			
					
						 

				
	
					
						 

				
	
					
						 

				

		
			

		 

		

			A-1

		

 

		

		
			 
		

		
			My mailing address for shareholder communications, if different from the address listed above, is:
		

		
			 
		

			
					
						 

				
	
					
						 

				
	
					
						 

				

		
			 
		

		
			 
		

		
			Very truly yours,
		

		
			 
		

		
			 
		

		
			
		

		
			Participant (signature)
		

		
			 
		

		
			 
		

		
			
		

		
			Print Name
		

		
			 
		

		
			 
		

		
			
		

		
			Date
		

		
			 
		

		
			 
		

		
			
		

		
			Social Security Number
		

		
			 
		

		
			 
		

		
			 
		

		 

		

			A-2

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