Document:

EX-4.1

 Exhibit 4.1 

Execution Version 
 ENTEGRIS,
INC. 
 as Issuer, 

the GUARANTORS named herein 

as Guarantors, 
 and

 WELLS FARGO BANK, NATIONAL ASSOCIATION 

as Trustee, 
 INDENTURE

 Dated as of April 30, 2020 

$400,000,000 
 4.375%
Senior Unsecured Notes Due 2028 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	ARTICLE ONE	  

	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 

			
	 SECTION 101.
	 	 Rules of Construction
	  	 	1	
	 SECTION 102.
	 	 Definitions
	  	 	2	
	 SECTION 103.
	 	 Compliance Certificates and Opinions
	  	 	26	
	 SECTION 104.
	 	 Form of Documents Delivered to Trustee
	  	 	26	
	 SECTION 105.
	 	 Acts of Holders
	  	 	27	
	 SECTION 106.
	 	 Notices, Etc., to Trustee, Issuer, any Guarantor and Agent
	  	 	28	
	 SECTION 107.
	 	 Notice to Holders; Waiver
	  	 	28	
	 SECTION 108.
	 	 Effect of Headings and Table of Contents
	  	 	29	
	 SECTION 109.
	 	 Successors and Assigns
	  	 	29	
	 SECTION 110.
	 	 Severability Clause
	  	 	29	
	 SECTION 111.
	 	 Benefits of Indenture
	  	 	29	
	 SECTION 112.
	 	 Governing Law
	  	 	29	
	 SECTION 113.
	 	 Legal Holidays
	  	 	30	
	 SECTION 114.
	 	 No Personal Liability of Directors, Managers, Officers, Employees and Stockholders
	  	 	30	
	 SECTION 115.
	 	 Concerning the TIA
	  	 	30	
	 SECTION 116.
	 	 Counterparts
	  	 	30	
	 SECTION 117.
	 	 USA PATRIOT Act
	  	 	30	
	 SECTION 118.
	 	 Waiver of Jury Trial
	  	 	30	
	 SECTION 119.
	 	 Force Majeure
	  	 	30	
	
	ARTICLE TWO	  

	
	NOTE FORMS	 

			
	 SECTION 201.
	 	 Form and Dating
	  	 	31	
	 SECTION 202.
	 	 Execution, Authentication, Delivery and Dating
	  	 	31	

  
 -i- 

							
	ARTICLE THREE	  

	
	THE NOTES	 

			
	 SECTION 301.
	 	 Title and Terms
	  	 	32	
	 SECTION 302.
	 	 Note Registrar, Transfer Agent and Paying Agent
	  	 	33	
	 SECTION 303.
	 	 Denominations
	  	 	34	
	 SECTION 304.
	 	 Temporary Notes
	  	 	34	
	 SECTION 305.
	 	 Registration of Transfer and Exchange
	  	 	34	
	 SECTION 306.
	 	 Mutilated, Destroyed, Lost and Stolen Notes
	  	 	35	
	 SECTION 307.
	 	 Payment of Interest; Interest Rights Preserved
	  	 	35	
	 SECTION 308.
	 	 Persons Deemed Owners
	  	 	36	
	 SECTION 309.
	 	 Cancellation
	  	 	36	
	 SECTION 310.
	 	 Computation of Interest
	  	 	37	
	 SECTION 311.
	 	 Transfer and Exchange
	  	 	37	
	 SECTION 312.
	 	 CUSIP, ISIN and Common Code Numbers
	  	 	37	
	 SECTION 313.
	 	 Issuance of Additional Notes
	  	 	37	
	
	ARTICLE FOUR	  

	
	SATISFACTION AND DISCHARGE	 

			
	 SECTION 401.
	 	 Satisfaction and Discharge of Indenture
	  	 	37	
	 SECTION 402.
	 	 Application of Trust Money
	  	 	39	
	
	ARTICLE FIVE	  

	
	REMEDIES	 

			
	 SECTION 501.
	 	 Events of Default
	  	 	39	
	 SECTION 502.
	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	41	
	 SECTION 503.
	 	 Additional Interest
	  	 	42	
	 SECTION 504.
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	43	
	 SECTION 505.
	 	 Trustee May File Proofs of Claim
	  	 	43	
	 SECTION 506.
	 	 Trustee May Enforce Claims Without Possession of Notes
	  	 	44	
	 SECTION 507.
	 	 Application of Money Collected
	  	 	44	
	 SECTION 508.
	 	 Limitation on Suits
	  	 	44	
	 SECTION 509.
	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	45	
	 SECTION 510.
	 	 Restoration of Rights and Remedies
	  	 	45	
	 SECTION 511.
	 	 Rights and Remedies Cumulative
	  	 	45	
	 SECTION 512.
	 	 Delay or Omission Not Waiver
	  	 	45	

  
 -ii- 

							
	 SECTION 513.
	 	 Control by Holders
	  	 	46	
	 SECTION 514.
	 	 Waiver of Past Defaults
	  	 	46	
	 SECTION 515.
	 	 Waiver of Stay or Extension Laws
	  	 	46	
	 SECTION 516.
	 	 Undertaking for Costs
	  	 	46	
	
	ARTICLE SIX	  

	
	THE TRUSTEE	 

			
	 SECTION 601.
	 	 Duties of the Trustee
	  	 	47	
	 SECTION 602.
	 	 Notice of Defaults
	  	 	48	
	 SECTION 603.
	 	 Certain Rights of Trustee
	  	 	48	
	 SECTION 604.
	 	 Trustee Not Responsible for Recitals or Issuance of Notes
	  	 	50	
	 SECTION 605.
	 	 May Hold Notes
	  	 	50	
	 SECTION 606.
	 	 Money Held in Trust
	  	 	50	
	 SECTION 607.
	 	 Compensation and Reimbursement
	  	 	50	
	 SECTION 608.
	 	 Corporate Trustee Required; Eligibility
	  	 	51	
	 SECTION 609.
	 	 Resignation and Removal; Appointment of Successor
	  	 	51	
	 SECTION 610.
	 	 Acceptance of Appointment by Successor
	  	 	52	
	 SECTION 611.
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	53	
	 SECTION 612.
	 	 Appointment of Authenticating Agent
	  	 	53	
	 SECTION 613.
	 	 Preferential Collection of Claims Against Issuer
	  	 	54	
	
	ARTICLE SEVEN	  

	
	HOLDERS LISTS AND REPORTS BY TRUSTEE AND ISSUER	 

			
	 SECTION 701.
	 	 Issuer to Furnish Trustee Names and Addresses
	  	 	54	
	 SECTION 702.
	 	 Reports by Trustee
	  	 	54	
	
	ARTICLE EIGHT	  

	
	MERGER, CONSOLIDATION OR SALE OF ALL OR SUBSTANTIALLY ALL ASSETS	 

			
	 SECTION 801.
	 	 Issuer May Consolidate, Etc., Only on Certain Terms
	  	 	55	
	 SECTION 802.
	 	 Successor Substituted
	  	 	55	

  
 -iii- 

							
	ARTICLE NINE	  

	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 

			
	 SECTION 901.
	 	 Amendments or Supplements Without Consent of Holders
	  	 	56	
	 SECTION 902.
	 	 Amendments, Supplements or Waivers with Consent of Holders
	  	 	57	
	 SECTION 903.
	 	 Execution of Amendments, Supplements or Waivers
	  	 	58	
	 SECTION 904.
	 	 Effect of Amendments, Supplements or Waivers
	  	 	58	
	 SECTION 905.
	 	 [Reserved]
	  	 	58	
	 SECTION 906.
	 	 Reference in Notes to Supplemental Indentures
	  	 	58	
	 SECTION 907.
	 	 Notice of Supplemental Indentures
	  	 	58	
	
	ARTICLE TEN	  

	
	COVENANTS	 

			
	 SECTION 1001.
	 	 Payment of Principal, Premium, if any, and Interest
	  	 	58	
	 SECTION 1002.
	 	 Maintenance of Office or Agency
	  	 	59	
	 SECTION 1003.
	 	 Money for Notes Payments to Be Held in Trust
	  	 	59	
	 SECTION 1004.
	 	 Organizational Existence
	  	 	60	
	 SECTION 1005.
	 	 [Reserved]
	  	 	60	
	 SECTION 1006.
	 	 [Reserved]
	  	 	60	
	 SECTION 1007.
	 	 [Reserved]
	  	 	60	
	 SECTION 1008.
	 	 Statement by Officer as to Default
	  	 	60	
	 SECTION 1009.
	 	 Reports and Other Information
	  	 	60	
	 SECTION 1010.
	 	 Limitation on Liens
	  	 	62	
	 SECTION 1011.
	 	 Limitation on Subsidiary Debt
	  	 	62	
	 SECTION 1012.
	 	 Limitation on Sale and Leaseback Transactions
	  	 	65	
	 SECTION 1013.
	 	 Change of Control Repurchase Event
	  	 	66	
	 SECTION 1014.
	 	 Escrow Fundings
	  	 	67	
	
	ARTICLE ELEVEN	  

	
	REDEMPTION OF NOTES	 

			
	 SECTION 1101.
	 	 Right of Redemption
	  	 	67	
	 SECTION 1102.
	 	 [Reserved]
	  	 	68	
	 SECTION 1103.
	 	 Election to Redeem; Notice to Trustee
	  	 	68	
	 SECTION 1104.
	 	 Selection by Trustee of Notes to Be Redeemed
	  	 	69	
	 SECTION 1105.
	 	 Notice of Redemption
	  	 	69	
	 SECTION 1106.
	 	 Deposit of Redemption Price
	  	 	70	
	 SECTION 1107.
	 	 Notes Payable on Redemption Date
	  	 	70	
	 SECTION 1108.
	 	 Notes Redeemed in Part
	  	 	71	

  
 -iv- 

							
	ARTICLE TWELVE	  

	
	GUARANTEES	 

			
	 SECTION 1201.
	 	 Note Guarantees
	  	 	71	
	 SECTION 1202.
	 	 Severability
	  	 	72	
	 SECTION 1203.
	 	 Additional Guarantors
	  	 	72	
	 SECTION 1204.
	 	 Limitation of Guarantors’ Liability
	  	 	73	
	 SECTION 1205.
	 	 Contribution
	  	 	73	
	 SECTION 1206.
	 	 Subrogation
	  	 	73	
	 SECTION 1207.
	 	 Reinstatement
	  	 	73	
	 SECTION 1208.
	 	 Release of a Guarantor
	  	 	74	
	 SECTION 1209.
	 	 Benefits Acknowledged
	  	 	74	
	 SECTION 1210.
	 	 Effectiveness of Note Guarantees
	  	 	74	
	
	ARTICLE THIRTEEN	  

	
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 

			
	 SECTION 1301.
	 	 Issuer’s Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	75	
	 SECTION 1302.
	 	 Legal Defeasance and Discharge
	  	 	75	
	 SECTION 1303.
	 	 Covenant Defeasance
	  	 	75	
	 SECTION 1304.
	 	 Conditions to Legal Defeasance or Covenant Defeasance
	  	 	75	
	 SECTION 1305.
	 	 Deposited Money and Government Securities To Be Held in Trust Other Miscellaneous
Provisions
	  	 	77	
	 SECTION 1306.
	 	 Reinstatement
	  	 	77	

  
 -v- 

			
	APPENDIX & EXHIBITS
		
	APPENDIX I	  	Rule 144A / Regulation S
	EXHIBIT 1 to APPENDIX I            	  	Rule 144A / Regulation S – Form of Initial Note
	EXHIBIT 2 to APPENDIX I	  	Rule 144A / Regulation S – Form of Transferee Letter of Representation

  

			
	EXHIBIT A	  	Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors
	EXHIBIT B	  	Form of Incumbency Certificate

  
 -i- 

 INDENTURE dated as of April 30, 2020 (this “Indenture”), between
ENTEGRIS, INC., a Delaware corporation (the “Issuer”), the Guarantors party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee (as defined below). 

RECITALS OF THE ISSUER 

The Issuer has duly authorized the creation of an issue of 4.375% Senior Unsecured Notes due 2028 issued on the date hereof (the
“Initial Notes”) and, to provide therefor, the Issuer and the Guarantors have duly authorized the execution and delivery of this Indenture. 

All things necessary to make the Notes (as defined herein), when executed by the Issuer and authenticated and delivered hereunder and duly
issued by the Issuer, the valid and legally binding obligations of the Issuer and to make this Indenture a valid and legally binding agreement of the Issuer, in accordance with their and its terms, have been done. 

Each of the parties hereto is entering into this Indenture for the benefit of the other parties and for the equal and ratable benefit of the
Holders (as defined below) of (i) the Initial Notes and (ii) any Additional Notes (as defined herein) that may be issued from time to time under this Indenture. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the
equal and ratable benefit of all Holders, as follows: 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

SECTION 101.    Rules of Construction. 

(a)    For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:

 (1)    the terms defined in this Article or the Appendix have the meanings assigned to them in this
Article or the Appendix and words in the singular include the plural and words in the plural include the singular; 

(2)    all accounting terms not otherwise defined herein have the meanings assigned to them in accordance
with GAAP (as defined herein); 
 (3)    the words “herein”, “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

(4)    all references to Articles, Sections, Exhibits and Appendices shall be construed to refer to
Articles and Sections of, and Exhibits and Appendices to, this Indenture; 
 (5)    “or” is not
exclusive; 
 (6)    “including” means including without limitation; 

(7)    all references to the date the Notes were originally issued shall refer to the Issue Date; and 

  
 -1- 

 (8)    any reference to interest on, or in respect of,
any Note in this Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to Section 503; any express mention of Additional Interest in any provision of this
Indenture shall not be construed as excluding Additional Interest in those provisions of this Indenture where such express mention is not made. 

(b)    When calculating the availability under any basket or ratio under this Indenture, in each case for any purpose in
connection with a Limited Condition Acquisition, the date of determination of such basket or ratio and of any Default may, at the option of the Issuer, be the date the definitive agreement(s) for such Limited Condition Acquisition is entered into.
Any such ratio or basket shall be calculated on a pro forma basis after giving effect to such Limited Condition Acquisition and other transactions in connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof and
the granting, creation, incurrence or suffering to exist of any Lien) as if they had been consummated at the beginning of the applicable period for purposes of determining the ability to consummate any such Limited Condition Acquisition;
provided, however, that if the Issuer elects to make such determination as of the date of such definitive agreement(s), then (i) if any of such ratios are no longer complied with or baskets are exceeded as a result of fluctuations in
such ratio (including due to fluctuations in EBITDA or other financial result or metric of the Issuer or the target company) or basket subsequent to such date of determination and at or prior to the consummation of the relevant Limited Condition
Acquisition, such ratios or baskets will not be deemed to have been breached or exceeded as a result of such fluctuations solely for purposes of determining whether the Limited Condition Acquisition is permitted under this Indenture and
(ii) such ratios or baskets shall not be tested at the time of consummation of such Limited Condition Acquisition or related transactions; provided further, however, that if the Issuer elects to have such determinations
occur at the time of entry into such definitive agreement(s), any such transactions (including any incurrence of Indebtedness and the use of proceeds thereof and the granting, creation, incurrence or suffering to exist of any Lien) shall be deemed
to have occurred on the date the definitive agreement(s) is entered into and shall be deemed outstanding thereafter for purposes of calculating any ratios or baskets under this Indenture after the date of such definitive agreement(s) and before the
consummation of such Limited Condition Acquisition, unless such definitive agreement(s) is terminated or such Limited Condition Acquisition or incurrence of Indebtedness or such other transaction to which pro forma effect is being given is abandoned
or with respect to which the Issuer has delivered an Officer’s Certificate to the Trustee stating that such transaction will not occur. 

SECTION 102.    Definitions. 

“2026 Notes” means the $550,000,000 aggregate principal amount of 4.625% Senior Unsecured Notes due 2026 issued by Issuer and
Guaranteed by Guarantors party thereto. 
 “Act”, when used with respect to any Holder, has the meaning specified in
Section 105. 
 “Additional Escrow Amount” means an amount equal to (a) all interest that could accrue on any
Future Escrow Debt from and including the date of issuance thereof to and including the date of any potential mandatory redemption to occur if the proceeds of such Future Escrow Debt are not released from the applicable Future Escrow Account,
plus (b) the amount of any original issue discount on such Future Escrow Debt, plus (c) all fees and expenses that are incurred in connection with the issuance of such Future Escrow Debt and all fees, expenses or other
amounts payable in connection with any redemption of such Future Escrow Debt. 
 “Additional Interest” has the meaning
specified in Section 503. 
 “Additional Notes” means any Notes issued by the Issuer pursuant to Section 313.

  
 -2- 

 “Adjusted Net Assets” has the meaning specified in Section 1205. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control”, as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control
with” have correlative meanings. 
 “Agent” means any Note Registrar, Transfer Agent,
co-registrar, Notes Custodian, Paying Agent or other agent appointed in accordance with this Indenture to perform any function that this Indenture authorized such agent to perform. 

“Aggregate Net Availability Debt” means, as of any date of determination, the sum of the following (in each case without
duplication): (a) the then outstanding aggregate principal amount of Indebtedness of the Issuer and its Subsidiaries incurred pursuant to clause (10) of the definition of “Permitted Liens”; plus (b) the then outstanding
aggregate principal amount of all Subsidiary Debt incurred after the Issue Date pursuant to Section 1011(a)(12); provided that, any such Subsidiary Debt will be excluded from this clause (b) to the extent that such Subsidiary Debt
(or the related Indebtedness) is included in clause (a) or (c) of this definition; plus (c) the then existing Attributable Debt of the Issuer and its Subsidiaries in respect of Sale and Leaseback Transactions entered into after the
Issue Date pursuant to Section 1012(c); provided that any such Attributable Debt will be excluded from this clause (c) to the extent of Indebtedness relating thereto is included in clause (a) or (b) of this definition;
provided, further, in no event will the amount of any Indebtedness (including Guarantees of such Indebtedness) be required to be included in the calculation of Aggregate Net Availability Debt more than once despite the fact that more than one
Person is obligated with respect to such Indebtedness and despite the fact that such Indebtedness is secured by the assets of more than one Person (for example, in the case where more than one Subsidiary has Guaranteed or otherwise become liable for
such Indebtedness or in the case where there are Liens on assets of one or more of the Issuer and its Subsidiaries securing such Indebtedness or one or more Guarantees thereof, the amount of Indebtedness so Guaranteed or secured shall only be
included once in the calculation of Aggregate Net Availability Debt); minus (d) the aggregate amount of cash and Company Cash Equivalents of the Issuer and its Subsidiaries (other than any Future Escrow Subsidiary) as of such date (but
disregarding the proceeds of Indebtedness that is incurred on such date). 
 For purposes of calculating the amount of “Aggregate Net
Availability Debt” for purposes of clause (10) of the definition of “Permitted Liens”, Section 1011(a)(12) and Section 1012(c), the Issuer may elect, pursuant to an Officer’s Certificate delivered to the Trustee,
to treat all or any portion of the commitment under any Indebtedness which is to be incurred or secured by such Lien, as the case may be, as being incurred as of the applicable date of determination and any subsequent incurrence of Indebtedness
under such commitment that was so treated shall not be deemed to be an incurrence of additional Indebtedness or an additional Lien at such subsequent time; provided further, however, that such committed amount shall be treated as outstanding
Indebtedness (whether or not outstanding) for each subsequent calculation of the “Aggregate Net Availability Debt” hereunder for so long as such Indebtedness is so designated. In addition, (i) any Future Escrow Debt shall be deemed to
not constitute Aggregate Net Availability Debt and (ii) any Permitted Revolving Indebtedness shall be deemed to not constitute Aggregate Net Availability Debt. 

“Appendix” has the meaning specified in Section 201. 

  
 -3- 

 “Applicable Measurement Period” in effect at any time means the
Issuer’s most recently ended four fiscal quarters immediately preceding the applicable date of determination for which internal financial statements are available (as determined in good faith by the Issuer). 

For purposes of calculating the “Aggregate Net Availability Debt” test contemplated by clause (10) of the definition of
“Permitted Liens”, Section 1011(a)(12) and Section 1012(c), Investments, acquisitions, dispositions, mergers, consolidations and disposed operations (as determined in accordance with GAAP) that have been made by the Issuer or any
Subsidiary of the Issuer during the Applicable Measurement Period or subsequent to such Applicable Measurement Period and on or prior to or simultaneously with the applicable date of determination shall be calculated on a pro forma basis assuming
that all such Investments, acquisitions, dispositions, mergers, consolidations and disposed operations (and the change in any associated Aggregate Net Availability Debt and the change in EBITDA resulting therefrom) had occurred on the first day of
the Applicable Measurement Period. If since the beginning of such period any Person that subsequently became a Subsidiary of the Issuer or was merged with or into the Issuer or any Subsidiary of the Issuer since the beginning of such period shall
have made any Investment, acquisition, disposition, merger, consolidation or disposed operation that would have required adjustment pursuant to this definition, then the applicable amount shall be calculated giving pro forma effect thereto for such
Applicable Measurement Period as if such Investment, acquisition, disposition, merger, consolidation or disposed operation had occurred at the beginning of the Applicable Measurement Period. 

“Applicable Premium” means, with respect to any Note on any Redemption Date, the greater of: 

(1)    1.00% of the then outstanding principal amount of such Note; and 

(2)    the excess, if any, of (a) the present value at such Redemption Date of (i) the Redemption
Price (such Redemption Price being set forth in the table appearing in Section 1101) of such Note at April 15, 2023, plus (ii) all required interest payments due on such Note through April 15, 2023 (excluding accrued
interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate as of such Redemption Date plus 50 basis points; over (b) the then-outstanding principal amount of such Note. 

Calculation of the Applicable Premium will be made by the Issuer or on behalf of the Issuer by such Person as the Issuer shall designate;
provided, however, that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. 

“Applicable Procedures” means, with respect to any payment, tender, redemption, transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary that apply to such payment, tender, redemption, transfer or exchange. 

“Attributable Debt” means, with respect to any Sale and Leaseback Transaction, at the time of determination, the lesser of
(a) the sale price of the property so leased multiplied by a fraction the numerator of which is the remaining portion of the base term of the lease included in such transaction and the denominator of which is the base term of such lease, and
(b) the total obligation (discounted to the present value at the implicit interest factor, determined in accordance with GAAP, included in the rental payments) of the lessee for rental payments (other than amounts required to be paid on account
of property taxes as well as maintenance, repairs, insurance, water rates and other items which do not constitute payments for property rights) during the remaining portion of the base term of the lease included in such transaction. Notwithstanding
the foregoing, if such Sale and Leaseback Transaction results in a Finance Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Finance Lease Obligation”. 

  
 -4- 

 “Authenticating Agent” has the meaning specified in Section 612. 

“Bankruptcy Law” means Title 11, United States Bankruptcy Code of 1978, as amended, or any similar United States federal or
state law and the law of any other jurisdiction relating to bankruptcy, insolvency, receivership, winding-up, liquidation, reorganization or relief of debtors or any amendment to, succession to or change in
any such law. 
 “Board of Directors” means: 
  

	 	(1)	 with respect to a corporation, the board of directors of the corporation or any committee thereof duly
authorized to act on behalf of such board; 

 (2)    with respect to a partnership, the
board of directors of the general partner of the partnership; 
 (3)    with respect to a limited
liability company, the managing member or members or any controlling committee of managing members thereof; and 

(4)    with respect to any other Person, the board or committee of such Person serving a similar function.

 “Board Resolution” means with respect to the Issuer, a duly adopted resolution of the Board of Directors of the Issuer
or any committee of such Board of Directors. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on
which the Trustee or banking institutions in New York, New York are authorized or required by law to close. 
 “Capital
Stock” means: 
  

	 	(1)	 in the case of a corporation, corporate stock, 

 

	 	(2)	 in the case of an association or business entity, any and all shares, interests, participations, rights or
other equivalents (however designated) of corporate stock, 

  

	 	(3)	 in the case of a partnership or limited liability company, partnership interests (whether general or limited)
or membership interests, and 

  

	 	(4)	 any other interest or participation that confers on a Person the right to receive a share of the profits and
losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.

 “CFC” means any Subsidiary of the Issuer that is a “controlled foreign corporation” within
the meaning of Section 957 of the Internal Revenue Code of 1986. 
 “CFC Holding Company” means any Domestic
Subsidiary that is treated as a partnership or a disregarded entity for United States federal income tax purposes and that has no material assets other than Capital Stock in one or more Subsidiaries of the Issuer that are CFCs. 

  
 -5- 

 “Change of Control” means the occurrence of any of the following: 

 

	 	(1)	 the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger,
consolidation or other business combination transaction), in one or a series of related transactions, of all or substantially all of the assets of the Issuer and its Subsidiaries taken as a whole to any “person” (as that term is used in
Section 13(d) and Section 14(d) of the Exchange Act) other than to the Issuer or one of its Subsidiaries; 

(2)    the consummation of any transaction (including any merger or consolidation or purchase of Capital
Stock) the result of which is that any “person” (as that term is used in Section 13(d) and Section 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule
13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, of more than 50.00% of the outstanding Voting Stock of the Issuer, or other Voting Stock into which
the Voting Stock of the Issuer is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; 

(3)    the Issuer consolidates with, or merges with or into, any Person, or any Person consolidates with,
or merges with or into, the Issuer, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Issuer or such other Person is converted into or exchanged for cash, securities or other property, other than any
such transaction where the shares of the Voting Stock of the Issuer outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving
effect to such transaction; or 
 (4)    the adoption of a plan relating to the liquidation or
dissolution of the Issuer. 
 “Change of Control Offer” has the meaning specified in Section 1013. 

“Change of Control Payment” has the meaning specified in Section 1013. 

“Change of Control Payment Date” has the meaning specified in Section 1013. 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Ratings Event. 

“Company Cash Equivalents” means, as at any date of determination, any of the following: 

(1)    money, currency or a credit balance in any demand or deposit account; 

(2)    marketable securities (i) issued or directly and unconditionally Guaranteed as to interest and
principal by the United States of America or (ii) issued by any agency of the United States of America, in each case maturing within two years after such date; 

(3)    marketable direct obligations issued by any State of the United States of America or the District of
Columbia or any political subdivision of any such State or District or any public instrumentality thereof, in each case maturing within two years after such date and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; 

(4)    corporate obligations maturing no more than 270 days from the date of creation thereof and having,
at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; 

  
 -6- 

 (5)    certificates of deposit or bankers’
acceptances maturing within one year after such date and issued or accepted by any commercial bank organized under the laws of the United States of America, any State thereof or the District of Columbia that (i) is at least “adequately
capitalized” (as defined in the regulations of its primary Federal banking regulator) and (ii) has Tier 1 capital (as defined in such regulations) of not less than $1,000,000,000; 

(6)    fully collateralized repurchase agreements with a term of not more than 30 days for securities
described in clause (1) above and entered into with a financial institution satisfying the criteria of clause (5) above; 

(7)    shares of any money market mutual fund that (i) has substantially all its assets invested
continuously in the types of investments referred to in clauses (1) through (4) above, (ii) has net assets of not less than $5,000,000,000 and (iii) has the highest rating obtainable from either S&P or Moody’s; 

(8)    in the case of any Foreign Subsidiary, other short-term investments that are analogous to the
foregoing, are of comparable credit quality and are customarily used by companies in the jurisdiction of such Foreign Subsidiary for cash management purposes; and 

(9)    marketable corporate bonds for which an active trading market exists and price quotations are
available, in each case maturing within two years after such date and issued by Persons that are not Affiliates of the Issuer and where such persons (i) in the case of any such bonds maturing more than 12 months from the date of the acquisition
thereof, have a long-term credit rating of at least AA- from S&P or Aa3 from Moody’s or (ii) in the case of any such bonds maturing less than or equal to 12 months from the date of the
acquisition thereof, have a long-term credit rating of at least A+ from S&P or A1 from Moody’s; provided, however, that the portfolio of any such bonds included as Company Cash Equivalents at any time shall have a weighted average
maturity of not more than 360 days. 
 “Consolidated Net Tangible Assets” of any Person as of any date means the total
assets of such Person and its Subsidiaries as of the most recent fiscal quarter end for which a consolidated balance sheet of such Person and its Subsidiaries is available, minus all current liabilities of such Person and its Subsidiaries
reflected on such balance sheet and minus total goodwill and other intangible assets of such Person and its Subsidiaries reflected on such balance sheet, all calculated on a consolidated basis in accordance with GAAP. 

“Consolidated Total Assets” means the total consolidated assets of the Issuer and its Subsidiaries, on a consolidated basis,
as shown on the most recent balance sheet of the Issuer, calculated in accordance with GAAP. 
 “Contingent Obligations”
means, with respect to any Person, any obligation of such Person Guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in
any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor,
(ii) to advance or supply funds (A) for the purchase or payment of any such primary obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the
primary obligor, or (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss
in respect thereof. 

  
 -7- 

 “continuing” means, with respect to any Default, that such Default has not
been cured or waived. 
 “Corporate Trust Office” means the corporate trust office of the Trustee, at which at any
particular time its corporate trust business in relation to this Indenture shall be principally administered, which office at the date of execution of this Indenture is located at Wells Fargo Bank, National Association, 600 South Fourth Street,
Sixth Floor, MAC N9300-060 Minneapolis, MN 55415, Attn: Corporate Trust Services, and for Agent services such office shall also mean the office or agency of the Trustee located at Corporate Trust Operations,
MAC N9300-070, 600 South Fourth Street, Seventh Floor, Minneapolis, MN 55415. 
 “Covenant
Defeasance” has the meaning specified in Section 1303. 
 “Credit and Guaranty Agreement” means the credit
and guaranty agreement, dated as of November 6, 2018 (as amended, supplemented or otherwise modified from time to time), among the Issuer, the guarantors party thereto, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as
administrative agent and collateral agent thereunder. 
 “Credit Facility” means, with respect to the Issuer or any
Subsidiary of the Issuer, (1) the Revolving Credit Facility and the Term Loan Facility and (2) one or more debt facilities or other financing arrangements (including commercial paper facilities with banks or other institutional lenders or
investors or indentures) providing for revolving credit loans, term loans, letters of credit or other long-term indebtedness, including any notes, mortgages, Guarantees, collateral documents, instruments and agreements executed in connection
therewith, and any amendments, supplements, modifications, extensions, renewals, restatements or refundings thereof, in whole or in part, and any indentures or credit facilities or commercial paper facilities with banks or other institutional
lenders or investors that renew, refund, refinance or replace any part of the loans, notes or other securities, other credit facilities or commitments thereunder, including any such refinancing facility or indenture that increases the amount
permitted to be borrowed or issued thereunder or alters the maturity thereof or adds Subsidiaries of the Issuer as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or
holders. 
 “Default” means any event that is, or with the passage of time or the giving of notice or both would be, an
Event of Default. 
 “Defaulted Interest” has the meaning specified in Section 307(b). 

“Depositary” means The Depository Trust Company, its nominees and their respective successors. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case, at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, other than as a result of a change of control, asset sale or
casualty or condemnation event pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder of the Capital Stock, other than as a result of a change of control, asset sale or casualty or condemnation event, in
whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that the Issuer and
its Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends. 

  
 -8- 

 “Domestic Subsidiary” means any Subsidiary of the Issuer that was formed
under the laws of the United States or any state of the United States or the District of Columbia. 
 “EBITDA” means, for
any period, 
 (1)    the net income (or loss) of the Issuer and its Subsidiaries for such period,
determined on a consolidated basis in conformity with GAAP and to the extent attributable to the Issuer, provided that (a) any net income (or loss) of any Person (including any Person accounted for by the equity method of accounting)
that is not the Issuer or a Subsidiary of the Issuer shall be excluded, except to the extent of the amount of cash and Company Cash Equivalents (or of other assets, but only to the extent of cash and Company Cash Equivalents received substantially
contemporaneously with such distribution of such assets as a result of a conversion of such assets into cash or Company Cash Equivalents) actually distributed during such period by any such Person to the Issuer or a Subsidiary of the Issuer as a
dividend or similar distribution (and except that the provisions of this clause (a) will not apply to the extent inclusion of net income (or loss) of such Person is required for any calculation of EBITDA with such pro forma adjustments as are
appropriate and consistent with the pro forma adjustment provisions set forth below and in the second paragraph of the definition of “Applicable Measurement Period”), (b) the net income (or loss) of any Person accrued prior to the date it
becomes a Subsidiary of the Issuer or is merged or consolidated with or into the Issuer or any of its Subsidiaries shall be excluded (except to the extent inclusion of such net income (or loss) of such Person is required for any calculation of
EBITDA with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth below and in the second paragraph of the definition of “Applicable Measurement Period”), (c) the cumulative effect
of a change in accounting principles during such period shall be excluded and (d) the accounting effects during such period of adjustments to inventory, property and equipment, goodwill and other intangible assets and deferred revenue required
or permitted by GAAP (including the effects of such adjustments pushed down to the Issuer and its Subsidiaries), and all other impacts of the application of purchase accounting, as a result of any acquisition shall be excluded, plus 

(2)    an amount which, has been deducted for such period pursuant to the calculation in clause
(1) above (or, in the case of amounts pursuant to clauses (ix) and (xi) below, not already included in clause (1) above) for, without duplication: 
  

	 	(i)	 total interest expense determined in conformity with GAAP (including, (A) amortization of original issue
discount resulting from the issuance of Indebtedness at less than par, (B) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers’ acceptances,
(C) non-cash interest payments, (D) the interest component of Finance Lease Obligations, (E) net payments, if any, made (less net payments, if any, received) pursuant to interest rate hedge
agreements with respect to Indebtedness, (F) amortization or write-off of deferred financing fees, debt issuance costs, commissions, fees and expenses, including commitment, letter of credit and
administrative fees and charges with respect to the credit facilities established hereunder and with respect to other Indebtedness permitted to be incurred hereunder, and (G) any expensing of commitment and other financing fees) and, to the
extent not reflected in such total interest expense, any losses on Hedging Obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of interest income and gains on such Hedging Obligations, and
costs of surety bonds in connection with financing activities (whether amortized or immediately expensed), for such period, 

  
 -9- 

	 	(ii)	 provision for taxes based on income, revenues, profits or capital, including Federal, foreign, state, local,
franchise, excise and similar taxes and foreign withholding taxes paid or accrued during such period, including (A) penalties and interest related to such taxes or arising from any tax examinations and (B) in respect of repatriated funds,
for such period, 

  

	 	(iii)	 total depreciation expense and total amortization expense for such period, 

 

	 	(iv)	 extraordinary, unusual or nonrecurring charges, expenses or losses for such period, 

 

	 	(v)	 any charges, expenses or losses for such period attributable to disposed, abandoned or discontinued operations,

  

	 	(vi)	 any after-tax losses attributable to any disposition of assets by the
Issuer or any Subsidiary of the Issuer, other than dispositions of inventory and other dispositions in the ordinary course of business, 

  

	 	(vii)	 non-cash charges, expenses or losses for such period, including
(A) impairment charges and reserves and any other write-down or write-off of assets, (B) non-cash fair value adjustments of Investments and (C) non-cash compensation expense, but excluding (1) any such non-cash charge, expense or loss to the extent that it represents an amortization of a prepaid cash
expense that was paid and not expensed in a prior period or write-down or write-off or reserves with respect to accounts receivable (including any addition to bad debt reserves or bad debt expense) or
inventory and (2) any non-cash charge, expense or loss to the extent it represents an accrual of or a reserve for cash expenditures in any future period, provided, however, that, at the
option of the Issuer, notwithstanding the exclusion in this clause (2) any such noncash charge, expense or loss may be added back in determining EBITDA for the period in which it is recognized, so long as any cash expenditure made on account
thereof in any future period is deducted pursuant to clause (4) below, 

  

	 	(viii)	 restructuring charges, accruals and reserves, severance costs, relocation costs, retention and completion
bonuses, integration costs and business optimization expenses, including any restructuring costs, business optimization expenses and integration costs related to acquisitions, project start-up costs,
transition costs, costs related to the opening, closure or consolidation of offices and facilities (including the termination or discontinuance of activities constituting a business), contract termination costs, recruiting, signing and completion
bonuses and expenses, future lease commitments, systems establishment costs, conversion costs, excess pension charges and curtailments or modifications to pension and post-retirement employee benefit plans (including any settlement of pension
liabilities) and consulting fees, for such period, 

  

	 	(ix)	 the amount of net cost savings, operating expense reductions, other operating improvements and synergies
projected by the Issuer in good faith to be realized (calculated on a pro forma basis as though such items had been realized on the first day of the Applicable Measurement Period) as a result of actions taken or to be taken in connection with any
pro forma event, net of the amount of actual benefits realized during such period that are otherwise included in the calculation of EBITDA from such actions, provided, however, that (A)(1) any such cost savings, operating expense reductions
or other operating improvements or synergies are reasonably identifiable, factually supportable and reasonably anticipated to be realized within the timeframe set forth in 

  
 -10- 

	 	
clause (2) below, as determined in good faith by the Issuer, and (2) such actions (or substantial steps in respect of such actions) have been taken or are to be taken within 18 months
after the consummation of the merger or such other pro forma event, as applicable, which is expected to result in such cost savings, operating expense reductions, operating improvements or synergies, (B) no cost savings, operating expense
reductions, operating improvements and synergies shall be added pursuant to this clause (ix) to the extent duplicative of any items otherwise added in calculating EBITDA for such period, (C) projected (and not yet realized) amounts may no
longer be added in calculating EBITDA pursuant to this clause (ix) after 18 months after the consummation of any pro forma event and (D) the aggregate amount of such cost savings, operating expense reductions, other operating improvements
and synergies added in reliance on this clause (ix) for any period of four consecutive fiscal quarters shall not exceed 20% of EBITDA for such period calculated before giving effect to any such addbacks and adjustments, 

 

	 	(x)	 transaction fees and expenses incurred, or amortization thereof, during such period in connection with, to the
extent permitted hereunder, any acquisition or other Investment, any disposition (other than in the ordinary course of business), any insurance condemnation, any incurrence of Indebtedness, any issuance of Equity Interests or any amendments or
waivers of the Credit and Guaranty Agreement or any agreements or instruments relating to any other Indebtedness permitted hereunder, in each case, whether or not consummated, 

 

	 	(xi)	 charges, expenses, losses and lost profits for such period to the extent indemnified or insured by a third
party, including expenses covered by indemnification provisions in connection with any acquisition or disposition permitted by this Indenture and lost profits covered by business interruption insurance, in each case, to extent that coverage has not
been denied and only so long as such amounts are either actually reimbursed to the Issuer or any Subsidiary of the Issuer during such period or the Issuer has made a good faith determination that there exists reasonable evidence that such amounts
will be reimbursed to the Issuer or any Subsidiary of the Issuer within 12 months after the related amount is first added to EBITDA pursuant to this clause (xi), 

 

	 	(xii)	 cash receipts (or any netting arrangements resulting in reduced cash expenses) during such period not included
in EBITDA in any prior period to the extent non-cash gains relating to such receipts were deducted in the calculation of EBITDA pursuant to clause (3) below for any prior period and not added back,

  

	 	(xiii)	 net losses during such period (A) resulting from fair value accounting required by FASB ASC 815, (B)
relating to mark-to-market of amounts denominated in foreign currencies resulting from the application of FASB ASC 830 or (C) attributable to foreign currency
translation, 

  

	 	(xiv)	 any losses for such period attributable to early extinguishment of Indebtedness or obligations under any hedge
agreement or other derivative instrument, 

  

	 	(xv)	 cash expenses relating to contingent or deferred payments in connection with any acquisition or other
Investment permitted hereunder (including earn-outs, non-compete payments, consulting payments and similar obligations) and any adjustments thereof and any purchase price adjustments for such period, and

  
 -11- 

	 	(xvi)	 any income (or loss) attributable to non-controlling interests in any non-wholly owned Subsidiary of the Issuer; minus 

(3)    an amount which, in the calculation made pursuant to clause (1) above for such period, has been
included for, without duplication: 
  

	 	(i)	 all extraordinary, unusual or nonrecurring gains and items of income during such period, 

 

	 	(ii)	 any gains or income attributable to disposed, abandoned or discontinued operations, 

 

	 	(iii)	 any after-tax gains attributable to any disposition of assets by the
Issuer or any Subsidiary of the Issuer, other than dispositions of inventory and other dispositions in the ordinary course of business, 

  

	 	(iv)	 any non-cash gains or income (other than the accrual of revenue in the
ordinary course) during such period, but excluding any such items in respect of which cash was received in a prior period or will be received in a future period, 

 

	 	(v)	 net gains during such period (A) resulting from fair value accounting required by FASB ASC 815, (B)
relating to mark-to-market of amounts denominated in foreign currencies resulting from the application of FASB ASC 830 or (C) attributable to foreign currency
translation, and 

  

	 	(vi)	 any gains for such period attributable to early extinguishment of Indebtedness or obligations under any hedge
agreement or other derivative instrument; minus 

 (4)    to the extent not
deducted in the calculation made pursuant to clause (1) above during such period, all cash payments made during such period on account of non-cash charges that were added back in calculating EBITDA for a
prior period in reliance on the proviso to clause (2)(vii) above. 
 For purposes of this definition, whenever pro forma effect is to be
given to a transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer (and may include, without duplication, the amount of
“run-rate” cost savings, synergies and operating expense reductions resulting from or related to any such Investment, acquisition, merger or consolidation which is being given pro forma effect that
have been or are expected to be realized and for which the actions necessary to realize such cost savings, operating expense reductions and synergies are taken, committed to be taken or with respect to which substantial steps have been taken or are
expected to be taken no later than 18 months after the date of any such transaction given pro forma effect (in each case as though such cost savings and synergies had been realized on the first day of the applicable period and as if such cost
savings and synergies were realized for the entirety of such period)). For the purposes of this definition, “run-rate” means the full recurring benefit for a period that is associated with any action
taken, committed to be taken, or with respect to which substantial steps have been taken or are expected to be taken (including any savings expected to result from the elimination of a public target’s compliance costs with public company
requirements), net of the amount of actual benefits realized during such period from such actions. 
 “Equity Interests”
means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 

  
 -12- 

 “Equity Offering” means a public or private sale of common stock or
preferred stock (excluding Disqualified Stock) of the Issuer consummated after the Issue Date, other than (i) public offerings with respect to common stock registered on Form S-4 or Form S-8 (or any similar offering in any other jurisdiction or otherwise issuable under any employee benefit plan of the Issuer) or (ii) an issuance to any Subsidiary of the Issuer. 

“Event of Default” has the meaning set forth in Section 501. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Excluded Subsidiary” means (i) any CFC Holding Company, (ii) any CFC or (iii) any Subsidiary
of a CFC. 
 “Finance Lease Obligation” means, at the time any determination is to be made, the amount of the liability in
respect of a finance lease that would at that time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of
the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Finance Subsidiary” means any Subsidiary, whether now existing or hereafter created or acquired, (a) of which at least
ninety percent (90%) of all of the issued and outstanding voting and beneficial Equity Interests are owned, directly or indirectly, by the Issuer; (b) that has no material assets, operations, revenues or cash flows other than those related to
the incurrence, administration and repayment of Indebtedness; and (c) whose Indebtedness is Guaranteed by the Issuer. 

“Foreign Subsidiary” means any Subsidiary of the Issuer that is not a Domestic Subsidiary. “Funding Guarantor” has
the meaning specified in Section 1205. 
 “Future Escrow Account” means a deposit or securities account at a financial
institution reasonably satisfactory to the trustee under any Future Escrow Notes Indenture (any such institution, a “Future Escrow Agent”) into which any Future Escrow Funds are deposited. 

“Future Escrow Account Documents” means the agreement(s) governing a Future Escrow Account and any other documents entered
into in order to provide the applicable Future Escrow Agent (or its designee) Liens on the related Future Escrow Funds. 
 “Future
Escrow Agent” has the meaning set forth in the definition of the term “Future Escrow Account”. 
 “Future Escrow
Debt” means debt securities of a Future Escrow Subsidiary issued after the Issue Date (which may not be Guaranteed or receive credit support from any Person other than a Future Escrow Subsidiary); provided that the net proceeds of
such debt securities are deposited into a Future Escrow Account upon the issuance thereof. 
 “Future Escrow Debt
Documents” mean the Future Escrow Notes Indentures, the Future Escrow Account Documents and any other documents entered into by a Future Escrow Subsidiary in connection with any Future Escrow Debt. 

  
 -13- 

 “Future Escrow Funds” means the sum of (a) the net proceeds of any
Future Escrow Debt, plus (b) the related Additional Escrow Amount, plus (c) so long as they are retained in a Future Escrow Account, any income, proceeds or products of the foregoing. 

“Future Escrow Notes Indentures” means the indenture(s) pursuant to which any Future Escrow Debt shall be issued. 

“Future Escrow Subsidiary” means a Subsidiary of the Issuer that (a) shall have been identified to the Trustee promptly
following its formation and (b) at no time shall contain any assets or liabilities other than any Future Escrow Debt, any Future Escrow Funds, any Future Escrow Accounts and such Subsidiary’s rights and obligations under any Future Escrow
Debt Documents. 
 “GAAP” means generally accepted accounting principles in the United States as are in effect on the Issue
Date. At any time after the Issue Date, the Issuer may elect to apply IFRS accounting principles as in effect on the Issue Date and, upon any such election, references herein to GAAP and GAAP concepts shall thereafter be construed to refer to IFRS
and corresponding IFRS concepts (except as otherwise provided in this Indenture); provided, however, that any such election, once made, shall be irrevocable; provided further, however, that any calculation or determination in
this Indenture that requires the application of GAAP for periods that include fiscal quarters ended prior to the Issuer’s election to apply IFRS shall remain as previously calculated or determined in accordance with GAAP. The Issuer shall give
written notice of any such election made in accordance with this definition to the Trustee and the Holders. Notwithstanding anything to the contrary in this Indenture, solely making the IFRS election (without any other action) referred to in this
definition will not be treated as an incurrence of Indebtedness. 
 “Global Notes” means Notes issued in global form. 

“Government Securities” means direct obligations of, or obligations Guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Guarantee” means a guarantee other than by
endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in
respect thereof, of all or any part of any Indebtedness. 
 “Guarantors” means any Subsidiary of the Issuer that executes a
Note Guarantee in accordance with the provisions of this Indenture, and their respective successors and assigns, in each case, until the Note Guarantee of such Person has been released in accordance with the provisions of this Indenture. 

“Hedging Obligations” means, with respect to any specified Person, the obligations of such Person under: 

 

	 	(1)	 currency exchange, interest rate or commodity swap agreements (whether from fixed to floating or from floating
to fixed), currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; 

  

	 	(2)	 other agreements or arrangements designed to manage interest rates or interest rate risk; and

  
 -14- 

 (3)    other agreements or arrangements designed to
manage, hedge or protect such Person against fluctuations in currency exchange, interest rates or commodity prices. 

“Holder” means a registered holder of the Notes. 

“IFRS” means the International Financial Reporting Standards as issued by the International Accounting Standards Board. 

“Indebtedness” means, with respect to any Person, 

(1)    any indebtedness (including principal and premium) of such Person, 

(a)    in respect of borrowed money, 

(b)    evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’
acceptances (or, without double counting, reimbursement agreements in respect thereof), 

(c)    representing the balance, deferred and unpaid, of the purchase price of any property, except
(i) any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case accrued in the ordinary course of business and (ii) any indemnification, adjustment of purchase price earn-out or similar obligation until such obligation, after 60 days of becoming due and payable, has not been paid and is reflected as a liability on the balance sheet of such Person in accordance with GAAP, 

(d)    representing Finance Lease Obligations, or 

(e)    representing any Hedging Obligations, 

 

	 	(2)	 to the extent not otherwise included, any obligation by such Person to be liable for, or to pay, as obligor,
guarantor or otherwise, on the obligations of the type referred to in clause (1) of another Person (whether or not such items would appear upon the balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments
for collection in the ordinary course of business, and 

 (3)    to the extent not
otherwise included, the obligations of the type referred to in clause (1) of another Person secured by a Lien on any assets owned by such Person, whether or not such Indebtedness is assumed by such Person; provided, however, that
the amount of such Indebtedness will be the lesser of: (a) the fair market value of such assets at such date of determination, and (b) the amount of such Indebtedness of such other Person; 

if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet
(excluding the footnotes thereto) of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset owned by the specified Person (whether or
not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person (other than by endorsement of negotiable instruments for collection in
the ordinary course of business). Indebtedness shall be calculated without giving effect to the effects of Statement of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or
decrease an amount of Indebtedness for any purpose 

  
 -15- 

 
under this Indenture as a result of accounting for any embedded derivatives created by the terms of such Indebtedness; provided, however, that notwithstanding the foregoing, Indebtedness
shall be deemed not to include Contingent Obligations incurred in the normal course of business and not in respect of borrowed money. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this Indenture and any such supplemental indenture, any provisions of the TIA that are deemed to be part of and govern this
instrument and any such supplemental indenture, respectively. 
 “Initial Default” has the meaning specified in
Section 502(c). 
 “Initial Notes” has the meaning set forth in the first recital. 

“Interest Payment Date” means the Stated Maturity of an installment of interest on the Notes. 

“Investment Grade” means (a) BBB- (with a stable outlook) or above, in the case
of S&P (or its equivalent under any successor rating categories of S&P) and Baa3 (with a stable outlook) or above, in the case of Moody’s (or its equivalent under any successor rating categories of Moody’s), or (b) the
equivalent in respect of the rating categories of any Rating Agency. 
 “Investments” means, with respect to any Person,
all investments by such Person in other Persons (including Affiliates) in the form of loans (including Guarantees), advances or capital contributions (excluding accounts receivable, trade credit, advances to customers, commissions, travel and
similar advances to officers and employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments
that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other
property. 
 “Issue Date” means April 30, 2020. 

“Issuer” has the meaning set forth in the preamble hereto. 

“Issuer Request” or “Issuer Order” means a written request or order signed in the name of the Issuer by two
Officers or one Officer and either an Assistant Treasurer or an Assistant Secretary of the Issuer, and delivered to the Trustee. 

“Joint Venture” means, with respect to any Person, any partnership, corporation or other entity in which up to and including
50% of the Equity Interests is owned, directly or indirectly, by such Person and/or one or more of its Subsidiaries. A Joint Venture is not treated as a Subsidiary. 

“Legal Defeasance” has the meaning specified in Section 1302. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction; provided that in no event shall an operating lease be deemed to constitute a
Lien. 

  
 -16- 

 “Limited Condition Acquisition” means any acquisition or other Investment,
including by way of merger, amalgamation or consolidation, by the Issuer or one or more of its Subsidiaries, with respect to which the Issuer or any of such Subsidiaries has entered into an agreement or is otherwise contractually committed to
consummate such transaction and the consummation of such transaction is not conditioned upon the availability of, or on obtaining, financing from a third party in the applicable definitive agreement with respect thereto. 

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

“Moody’s” means Moody’s Investors Service, Inc. 

“Note Guarantee” means the Guarantee by each Guarantor of the Issuer’s obligations under this Indenture and the Notes,
executed pursuant to the provisions of this Indenture. 
 “Note Register” and “Note Registrar” have the
respective meanings specified in Section 302. 
 “Notes” means any Notes authenticated and delivered under this
Indenture. 
 “Notes Custodian” means the custodian with respect to a Global Note (as appointed by the Depositary) or any
successor Person thereto, which shall initially be the Trustee. 
 “Obligations” means any principal, interest, penalties,
fees, indemnifications, reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit), damages and other liabilities, and Guarantees of payment of such principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“Offering Memorandum” means that certain offering memorandum dated April 23, 2020, relating to the Issuer’s
$400.0 million 4.375% Senior Unsecured Notes due 2028. 
 “Officer” means, with respect to the Issuer or any other
obligor upon the Notes, the Chairman of the Board, the Chief Executive Officer, the President, any Vice President (or the equivalent thereof), the Chief Financial Officer, Treasurer, Corporate Controller, Director of Treasury Operations, the General
Counsel or Secretary (a) of such Person (or any designee thereof) or (b) if such Person is owned or managed by a single entity, of such entity, or any other individual designated as an “Officer” for the purposes of this Indenture
by the Board of Directors of the Issuer. 
 “Officer’s Certificate” means a certificate signed on behalf of the Issuer
by an Officer of the Issuer who is the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer, or the equivalent, of the Issuer. 

“Opinion of Counsel” means a written opinion from legal counsel (which may be subject to customary assumptions, exclusions,
limitations and exceptions). The counsel may be an employee of or counsel to the Issuer or other counsel reasonably acceptable to the Trustee. 

“Outstanding”, when used with respect to Notes, means, as of the date of determination, all Notes theretofore authenticated
and delivered under this Indenture, except: 
  

	 	(1)	 Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

  
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 (2)    Notes, or portions thereof, for whose payment or
redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Issuer or any of its Subsidiaries) in trust or set aside and segregated in trust by the Issuer (if the Issuer shall act as
its own Paying Agent) for the Holders of such Notes in accordance with any applicable provisions of this Indenture; provided, however, that, if such Notes are to be redeemed, written notice of such redemption has been duly given
pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3)    Notes, except to the extent provided in Sections 1302 and 1303, with respect to which the Issuer has
effected Legal Defeasance or Covenant Defeasance as provided in Article Thirteen; and 
 (4)    Notes
which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of which there shall have been presented to
the Trustee proof satisfactory to it that such Notes are held by a Protected Purchaser in whose hands the Notes are valid obligations of the Issuer; 

provided, however, that, in determining whether the Holders of the requisite principal amount of Outstanding Notes have given any request, demand,
authorization, direction, consent, notice or waiver hereunder, Notes owned by the Issuer or any other obligor upon the Notes or any Affiliate of the Issuer or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in making such calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes which a Responsible Officer of the Trustee actually knows to
be so owned shall be so disregarded. 
 “Paying Agent” means any Person (including the Issuer acting as Paying Agent)
authorized by the Issuer to pay the principal of, and premium, if any, or interest on, any Notes on behalf of the Issuer. 

“Payment Default” has the meaning specified in Section 501(6)(A). 

“Permitted Liens” means, with respect to any Person: 

 

	 	(1)	 Liens securing Indebtedness on any Principal Property existing at the time of its acquisition and Liens created
contemporaneously with or within 270 days after (or created pursuant to firm commitment financing arrangements obtained within that period) the later of (a) the acquisition or completion of construction or completion of reconstruction,
renovation, remodeling, expansion or improvement (each, an “improvement”) of such Principal Property or (b) the placing in operation of such Principal Property after the acquisition or completion of any such construction or
improvement; 

 (2)    Liens on property or assets or shares of Capital Stock securing
Indebtedness of a Person existing at the time it is merged, combined or amalgamated with or into or consolidated with, or its assets or Capital Stock are acquired by, the Issuer or any of its Subsidiaries or it otherwise becomes a Subsidiary of the
Issuer; provided, however, that in each case (a) the Indebtedness secured by such Lien was not incurred in contemplation of such merger, combination, amalgamation, consolidation, acquisition or transaction in which such Person
becomes a Subsidiary of the Issuer and (b) such Lien extends only to the Capital Stock and assets of such Person (and Subsidiaries of such Person) and/or to property other than any Principal Property; 

  
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 (3)    Liens securing Indebtedness in favor of the
Issuer and/or one or more of its Subsidiaries; 
 (4)    Liens in favor of or required by a governmental
unit in any relevant jurisdiction, including any department or instrumentality thereof, to secure payments under any contract or statute, or to secure debts incurred in financing the acquisition or construction of or improvements or alterations to
property subject thereto; 
 (5)    Liens in favor of any customer arising in respect of and not
exceeding the amount of performance deposits and partial, progress, advance or other payments by that customer for goods produced or services rendered to that customer in the ordinary course of business and consignment arrangements (whether as
consignor or as consignee) or similar arrangements for the sale or purchase of goods in the ordinary course of business; 

(6)    Liens existing on the Issue Date (other than Liens incurred or to be incurred under the Revolving
Credit Facility, the Term Loan Facility or any other Credit Facility); 
 (7)    Liens to secure any
extension, renewal, refinancing, refunding or replacement (or successive extensions, renewals, refinancings, refundings or replacements), in whole or in part, of any Indebtedness secured by Liens referred to in clauses (1), (2) or (6) above or
clauses (10) or (11) below or Liens created in connection with any amendment, consent or waiver relating to such Indebtedness, so long as (a) such Lien is limited to (i) all or part of substantially the same property which secured the
Indebtedness extended, renewed, refinanced, refunded or replaced and/or (ii) property other than any Principal Property and (b) the amount of Indebtedness secured is not increased (other than by the amount equal to any costs, expenses,
premiums, fees or prepayment penalties incurred in connection with any extension, renewal, refinancing, refunding or replacement); provided that (i) any such Lien incurred pursuant to this clause (7) with respect to clause
(10) shall, for purposes of determining amounts outstanding and the availability under clause (10), be deemed to be outstanding under clause (10) and not this clause (7), and (ii) any such Lien incurred pursuant to this clause
(7) with respect to clause (11) shall, for purposes of determining amounts outstanding and the availability under clause (11), be deemed to be outstanding under clause (11) and not this clause (7); 

(8)    Liens in respect of cash in connection with the operation of cash management programs and Liens
associated with the discounting or sale of letters of credit and customary rights of set-off, banker’s Lien, revocation, refund or chargeback or similar rights under deposit disbursement, concentration
account agreements or under the Uniform Commercial Code or arising by operation of law; 
 (9)    Liens
resulting from the deposit of funds or evidences of Indebtedness in trust for the purpose of defeasing or effecting a satisfaction and discharge of any Indebtedness of the Issuer or any of its Subsidiaries, and legal or equitable encumbrances deemed
to exist by reason of negative pledges; 
 (10)    Liens securing Indebtedness; provided that, as
of the date such Indebtedness is incurred, and after giving effect to such incurrence, the Aggregate Net Availability Debt does not exceed the greatest of (a) $1,000.0 million, (b) 15% of the Consolidated Net Tangible Assets of

  
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the Issuer measured as of the date any such Indebtedness is incurred (after giving pro forma effect to the application of the net proceeds therefrom and any transaction in connection with which
such Indebtedness is being incurred) and (c) 3.75 times EBITDA of the Issuer for the Applicable Measurement Period; 

(11)    Liens securing Permitted Revolving Indebtedness; 

(12)    Liens imposed by law or regulation, such as carriers’, warehousemen’s,
materialmen’s, contractors’, landlords’ and mechanic’s Liens and other similar Liens arising in the ordinary course of business, Liens in connection with legal proceedings and Liens arising solely by virtue of any statutory or
common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; 

(13)    Liens for taxes, assessments or other governmental charges not yet overdue for a period of more
than 30 days or subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings; 

(14)    Liens, pledges, deposits or security to secure the performance of bids, trade or commercial
contracts, government contracts, purchase, construction, sales and servicing contracts (including utility contracts), leases, statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature, in
each case in the ordinary course of business and to secure letters of credit, Guarantees, bonds or other sureties or similar instruments given in connection with the foregoing or in connection with workers’ compensation, unemployment insurance,
employers’ health tax or other types of social security or similar laws and regulations; 

(15)    licenses of intellectual property of the Issuer and its Subsidiaries granted in the ordinary course
of business; 
 (16)    Liens on, and consisting of, deposits made by the Issuer or a Guarantor to
discharge or defease the Notes and this Indenture or any other Indebtedness; 
 (17)    Liens on stock,
partnership or other Equity Interests in any Joint Venture of the Issuer or any of its Subsidiaries or in any Subsidiary of the Issuer that owns an Equity Interest in a Joint Venture to secure Indebtedness contributed or advanced solely to that
Joint Venture; provided that, in each case, the Indebtedness secured by such Lien is not secured by a Lien on any other property of the Issuer or any Subsidiary of the Issuer; 

(18)    Liens and deposits securing netting services, business credit card programs, overdraft protection
and other treasury, depository and cash management services or incurred in connection with any automated clearing-house transfers of funds or other fund transfer or payment processing services; 

(19)    Liens on insurance policies and the proceeds thereof incurred in connection with the financing of
insurance premiums; 
 (20)    easements, rights of way, minor encroachments, protrusions, municipal and
zoning and building ordinances and similar charges, encumbrances, title defects or other irregularities, governmental restrictions on the use of property or conduct of business, and Liens in favor of governmental authorities and public utilities,
that do not materially interfere with the ordinary course of business of the Issuer and its Subsidiaries, taken as a whole; 

  
 -20- 

 (21)    Liens on specific items of inventory or other
goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances or trade letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such
inventory or other goods; 
 (22)    leases, subleases, licenses or sublicenses (including of
intellectual property) to or from third parties granted in the ordinary course of business; 

(23)    Liens arising from Uniform Commercial Code (or equivalent statute) financing statement filings
regarding operating leases or consignments entered into by the Issuer or any Subsidiary of the Issuer in the ordinary course of business; 

(24)    Liens on equipment of the Issuer or any Subsidiary of the Issuer granted in the ordinary course of
business to the Issuer’s or such Subsidiary’s client at which such equipment is located; 

(25)    Liens arising by operation of law under Article 2 of the Uniform Commercial Code; 

(26)    Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of
customs duties in connection with the importation of goods in the ordinary course of business; 

(27)    Liens (i) of a collection bank arising under
Section 4-210 of the Uniform Commercial Code or any comparable or successor provision on items in the course of collection, (ii) attaching to pooling, commodity trading accounts or other commodity
brokerage accounts incurred in the ordinary course of business and (iii) in favor of banking or other financial institutions or electronic payment service providers arising as a matter of law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking or finance industry; 

(28)    restrictive covenants affecting the use to which real property may be put; provided,
however, that such restrictive covenants are complied with; 
 (29)    security given to a public
utility or any municipality or governmental authority when required by such utility or authority in connection with the operations of that Person in the ordinary course of business; 

(30)    zoning by-laws and other land use restrictions, including
site plan agreements, development agreements and contract zoning agreements; 
 (31)    Liens securing
Indebtedness incurred pursuant to Section 1011(a)(9)(a), provided, however, that such Liens may not extend to any assets other than assets owned by the Foreign Subsidiary incurring such Indebtedness; or 

(32)    Liens arising out of judgments, decrees, orders or awards in respect of which the Issuer or any
Subsidiary shall in good faith be prosecuting an appeal or proceedings for review, which appeal or proceedings shall not have been finally terminated, or if the period within which such appeal or proceedings may be initiated shall not have expired.

  
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 In the event that an item of secured Indebtedness meets the criteria of more than one of the categories of
Permitted Liens described in clauses (1) through (32) above on the date of incurrence, the Issuer will be permitted on the date of incurrence to classify such item of Indebtedness, and such item of secured Indebtedness will be treated as having
been incurred, pursuant to only one of such categories. For purposes of clauses (10) and (11) above, (a) with respect to any revolving Credit Facility secured by a Lien, the full amount of Indebtedness that may be borrowed thereunder will
be deemed to be incurred at the time any revolving credit commitment thereunder is first extended or increased and will not be deemed to be incurred when such revolving Credit Facility is drawn upon and (b) if a Lien by the Issuer or any of its
Subsidiaries is granted to secure Indebtedness that was previously unsecured, such Indebtedness will be deemed to be incurred as of the date such Indebtedness is secured. Any Lien permitted under clauses (1) through (32) above that secures
Indebtedness shall also be permitted to secure any Obligations associated with such Indebtedness. 
 “Permitted Parties”
has the meaning specified in Section 1009(b). 
 “Permitted Refinancing Indebtedness” means any Indebtedness of any
Subsidiary of the Issuer issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge, within 90 days following the date of incurrence or issuance thereof, other Subsidiary Debt;
provided that: 
  

	 	(1)	 the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not
exceed the principal amount (or accreted value, if applicable) of the Subsidiary Debt renewed, refunded, refinanced, replaced, defeased or discharged (plus all accrued interest on the Subsidiary Debt the amount of all fees and expenses, including
premiums, incurred in connection therewith); 

 (2)    such Permitted Refinancing
Indebtedness has (a) a final maturity date later than the final maturity date of, and a Weighted Average Life to Maturity that is equal to or greater than the remaining Weighted Average Life to Maturity of, the Subsidiary Debt being renewed,
refunded, refinanced, replaced, defeased or discharged, or (b) a final maturity date later than, and a Weighted Average Life to Maturity that is equal to or greater than, the date that is 90 days after the final maturity date of the Notes; 

(3)    if the Subsidiary Debt being renewed, refunded, refinanced, replaced, defeased or discharged is
subordinated in right of payment to the Notes, such Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes on terms at least as favorable to the Holders of Notes as those contained in the documentation governing the
Subsidiary Debt being renewed, refunded, refinanced, replaced, defeased or discharged; and 
 (4)    such
Subsidiary Debt is incurred either by the Subsidiary of the Issuer that was the obligor on the Subsidiary Debt being renewed, refunded, refinanced, replaced, defeased or discharged or any other Subsidiary that Guaranteed such Subsidiary Debt and is
Guaranteed only by Persons who were obligors on such Subsidiary Debt. 
 “Permitted Revolving Indebtedness” means
Indebtedness incurred by the Issuer or any Guarantor pursuant to the Revolving Credit Facility or any other Credit Facility that is a revolving credit facility; provided, however, that, the aggregate principal amount of all Permitted
Revolving Indebtedness 

  
 -22- 

 
outstanding at any time shall not exceed the greater of (a) $110.0 million and (b) the sum of (x) 40.00% of the book value of the inventory of the Issuer and its Subsidiaries and (y)
75.00% of the book value of the accounts receivable of the Issuer and its Subsidiaries. 
 “Person” means any individual,
corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization, limited liability company, government or any other entity. 

“Predecessor Note” of any particular Note means every previous Note evidencing all or a portion of the same debt as that
evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 306 in exchange for a mutilated Note or in lieu of a destroyed, lost or stolen Note shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Note. 
 “preferred stock” means any Equity Interest with
preferential rights of payment of dividends or upon liquidation, dissolution or winding up. 
 “Principal Property” means
any manufacturing plant or facility owned by the Issuer or any of its Subsidiaries that (i) is located in the United States and (ii) has a book value, as of the date of determination, in excess of 1% of the Issuer’s most recently
calculated Consolidated Net Tangible Assets. 
 “Protected Purchaser” has the meaning specified in Section 306. 

“Qualifying Trustee” has the meaning specified in Section 1305. 

“Rating Agencies” means (a) S&P and Moody’s or (b) if S&P or Moody’s or both of them are not
making ratings publicly available, a nationally recognized statistical rating organization within the meaning of Rule 15c3-1(c)(2) under the Exchange Act, as the case may be, selected by the Issuer, which will
be substituted for S&P or Moody’s or both, as the case may be. 
 “Rating Date” means the date that is 60 days
prior to the earlier of (a) a Change of Control or (b) public notice of the occurrence of a Change of Control or the intention by the Issuer to effect a Change of Control. 

“Ratings Event” means the occurrence of either event described in clause (a) or (b) of this definition on, or within 60
days after, the earlier of (i) the occurrence of a Change of Control and (ii) public notice of the occurrence of a Change of Control or the intention by the Issuer to effect a Change of Control (which period shall be extended so long as
the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies): 

(a)    if the Notes are rated by one or both Rating Agencies on the Rating Date as Investment Grade, the rating of the
Notes shall be reduced so that the Notes are rated below Investment Grade by both Rating Agencies; or 
 (b)    if the
Notes are rated below Investment Grade by both Rating Agencies on the Rating Date, the rating of the Notes shall be reduced by both Rating Agencies; 

provided, however, that a Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect
of a particular Change of Control (and thus will not be deemed a Ratings Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Issuer that the
reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect 

  
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of, the applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the Ratings Event). The Trustee shall not have any obligation to monitor the
occurrence or dates of any Ratings Event and may rely conclusively on such Officer’s Certificate related to such Change of Control Repurchase Event. The Trustee shall not have any obligation to notify the holders of the occurrence or dates of
any Ratings Event. 
 “Redemption Date” means, with respect to any redemption of Notes, the date of redemption with respect
thereto. 
 “Redemption Price”, when used with respect to any Note to be redeemed, means the price at which it is to be
redeemed pursuant to this Indenture. 
 “Regular Record Date” has the meaning specified in Section 301. 

“Responsible Officer” means any vice president, any assistant treasurer, any trust officer or assistant trust officer, or any
other officer of the Trustee within the Corporate Trust Office customarily performing functions similar to those performed by any of the above designated officers, who shall have direct responsibility for the administration of this Indenture, and
also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

“Revolving Credit Facility” means the revolving credit facility contained in the Credit and Guaranty Agreement, and any other
facility or financing arrangement that renews, refunds, refinances or replaces, in whole or in part, any such revolving credit facility. 

“S&P” means S&P Global Ratings (a division of S&P Global, Inc.) or any successor to the rating agency business
thereof. 
 “Sale and Leaseback Transaction” has the meaning specified in Section 1012. 

“Screened Affiliate” means any Affiliate of a holder (i) that makes investment decisions independently from such holder
and any other Affiliate of such holder that is not a Screened Affiliate, (ii) that has in place customary information screens between it and such holder and any other Affiliate of such holder that is not a Screened Affiliate and such screens
prohibit the sharing of information with respect to the Issuer or its Subsidiaries, (iii) whose investment policies are not directed by such holder or any other Affiliate of such holder that is acting in concert with such holder in connection
with its investment in the Notes, and (iv) whose investment decisions are not influenced by the investment decisions of such holder or any other Affiliate of such holder that is acting in concert with such holder in connection with its
investment in the Notes. 
 “SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated
thereunder. 
 “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined
in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such regulation is in effect on the Issue Date. 

“Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Issuer pursuant to
Section 307. 

  
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 “Stated Maturity” means, with respect to any installment of interest or
principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the Issue Date, and will not include any contingent obligations to repay,
redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 

“Subsidiary” means, with respect to any specified Person, 

(1)    any corporation, association or other business entity of which more than 50% of the total voting
power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of
directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof);
and 
 (2)    any partnership or limited liability company of which (a) more than 50% of the capital
accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or
a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (b) such Person or any Wholly Owned Subsidiary of such Person is a controlling general partner or otherwise controls
such entity. 
 “Subsidiary Debt” has the meaning specified in Section 1011(a). 

“Successor Company” has the meaning specified in Section 801(a)(1). 

“Term Loan Facility” means the term loan facility contained in the Credit and Guaranty Agreement, and any other facility or
financing arrangement that renews, refunds, refinances or replaces in whole or in part any such term loan facility. 

“TIA” means the Trust Indenture Act of 1939, as amended. 

“Transfer Agent” has the meaning specified in Section 302. 

“Treasury Rate” means, as of the applicable Redemption Date, the yield to maturity as of such Redemption Date of United
States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to such Redemption Date (or, if such
Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such Redemption Date to April 15, 2023; provided, however, that if the period from such Redemption
Date to April 15, 2023 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“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 hereunder. 
 “U.S. Person” means a U.S. Person as
defined in Rule 902(k) promulgated under the Securities Act. 

  
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 “Vice President”, when used with respect to the Issuer or the Trustee,
means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 

“Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied
to any Indebtedness, Disqualified Stock or preferred stock, as the case may be, at any date, the quotient obtained by dividing: 
  

	 	(1)	 the sum of the products of the number of years from the date of determination to the date of each successive
scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or preferred stock multiplied by the amount of such payment, by 

 

	 	(2)	 the sum of all such payments. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors’ qualifying shares and shares issued to foreign nationals under applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person or by such
Person and one or more Wholly Owned Subsidiaries of such Person. 
 SECTION 103.    Compliance Certificates and
Opinions. Upon any application or request by the Issuer to the Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent,
if any, provided for in this Indenture (including any covenant compliance with which constitutes a condition precedent) relating to the proposed action have been complied with and, other than in connection with the addition of a new Guarantor or
parent guarantor, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such
documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than pursuant to
Section 1008(a)) shall include: 
 (1)    a statement that each individual signing such certificate
or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (2)    a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

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

(4)    a statement as to whether, in the opinion of each such individual, such condition or covenant has
been complied with. 
 SECTION 104.    Form of Documents Delivered to Trustee. In any case where several matters
are required to be certified by, or covered by an opinion of, any specified Person, it is not 

  
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necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify
or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of,
or representations by, counsel, unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or opinion may be based,
insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Issuer stating that the information with respect to such factual matters is in the possession of the Issuer, unless such
counsel knows that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required
to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

SECTION 105.    Acts of Holders. 

(a)    Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to
be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agents duly appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and
conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. 
 (b)    The fact
and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also
constitute sufficient proof of authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. 

(c)    The principal amount and serial numbers of Notes held by any Person, and the date of holding the same, shall be
proved by the Note Register. 
 (d)    If the Issuer shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Issuer may, at its option, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but
the Issuer shall have no obligation to do so. Such record date shall be a date not earlier than the date 30 days prior to the first solicitation of Holders generally in connection therewith and not later than the date such solicitation is completed.
If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be
deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of 

  
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Outstanding Notes have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Notes shall
be computed as of such record date; provided, however, that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture
not later than eleven months after the record date. Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued
upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee, the Issuer or any Guarantor in reliance thereon, whether or not notation of such action
is made upon such Note. 
 SECTION 106.    Notices, Etc., to Trustee, Issuer, any Guarantor and Agent. Any
request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 

(1)    the Trustee by any Holder or by the Issuer or any Guarantor shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing via facsimile, email in PDF format or mailed, first class postage prepaid, or delivered by recognized overnight courier, to or with the Trustee at the Corporate Trust Office, or 

(2)    the Issuer or any Guarantor by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if made, given, furnished or delivered in writing via facsimile, or email in PDF or mailed, first class postage prepaid, or delivered by recognized overnight courier, to the Issuer or such
Guarantor addressed to Entegris, Inc., 129 Concord Road, Billerica, Massachusetts, 01821, or at any other address previously furnished in writing to the Trustee by the Issuer or such Guarantor. 

A copy of all notices to any Agent shall be sent to the Trustee at the address shown above. Any Person may change its address by giving notice
of such change as set forth herein. 
 SECTION 107.    Notice to Holders; Waiver. Where this Indenture provides
for notice of any event to Holders by the Issuer or the Trustee, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and delivered electronically or mailed, first class postage prepaid, to each Holder
affected by such event, at his address as it appears in the Note Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Notices given by publication shall be deemed given on the first date
on which publication is made; notices given by first-class mail, postage prepaid, shall be deemed given five calendar days after mailing; notices sent by overnight delivery service will be deemed given when delivered; and notices given
electronically shall be deemed given when sent. Any notices required to be given to the Holders of Notes that are in global form will be given to the Depositary pursuant to Applicable Procedures. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such
instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Issuer elects to give the
Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such
instructions shall be deemed controlling. The Trustee 

  
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shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding that such
instructions conflict or are inconsistent with a subsequent written instruction. The Issuer agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 
 In case
by reason of the suspension of or irregularities in regular mail service or by reason of any other cause, it shall be impracticable to mail notice of any event to Holders when such notice is required to be given pursuant to any provision of this
Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice for every purpose hereunder. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights
under this Indenture or the Notes. The Issuer, the Guarantors, the Trustee, each Agent and any other Person shall have the protection of TIA Section 312(c). 

Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event
(including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the standing instructions from the
Depositary or its designee, including by electronic mail in accordance with Applicable Procedures. 
 SECTION
108.    Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience of reference only, are not intended to be considered a part hereof and shall not
affect the construction hereof. 
 SECTION 109.    Successors and Assigns. All agreements of the Issuer in this
Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided in
Section 1208 hereof. 
 SECTION 110.    Severability Clause. In case any provision in this Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 111.    Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to
any Person, other than the parties hereto, any Agent, Paying Agent, any Note Registrar and their respective successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under this Indenture. 

SECTION 112.    Governing Law. This Indenture, the Notes and the Note Guarantees shall be governed by and construed
in accordance with the laws of the State of New York. THE PARTIES HERETO AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING
OUT OF OR RELATING TO THIS INDENTURE OR THE NOTES. 

  
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 SECTION 113.    Legal Holidays. In any case where any Interest
Payment Date, Redemption Date or Stated Maturity or Maturity of any Note shall not be a Business Day, then (notwithstanding any other provision of this Indenture or of the Notes) payment of principal, and premium, if any, or interest need not be
made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the Interest Payment Date, Redemption Date, or at the Stated Maturity or Maturity; provided, however, that no interest
shall accrue for purposes of such payment for the period from and after such Interest Payment Date, Redemption Date, Stated Maturity or Maturity, as the case may be. 

SECTION 114.    No Personal Liability of Directors, Managers, Officers, Employees and Stockholders. No past,
present or future director, manager, officer, employee, incorporator or stockholder of the Issuer or any Guarantor or any of their Subsidiaries, as such, shall have any liability for any obligations of the Issuer or the Guarantors under the Notes,
the Note Guarantees or this 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 to the fullest extent permitted by applicable
law. The waiver and release are part of the consideration for issuance of the Notes. 
 SECTION 115.    Concerning
the TIA. Except with respect to specific provisions of the TIA expressly referenced in the provisions of this Indenture, the TIA shall not be applicable to, and shall not govern, this Indenture and the Notes; 

SECTION 116.    Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be
original; but such counterparts shall together constitute but one and the same instrument. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall
constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture 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 117.    USA PATRIOT Act. The parties hereto acknowledge that in
accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies
each person or legal entity that establishes a relationship or opens an account. The Issuer agrees that it will provide the Trustee with information about the Issuer as the Trustee may reasonably request in order for the Trustee to satisfy the
requirements of the USA PATRIOT Act. 
 SECTION 118.    Waiver of Jury Trial. EACH OF THE ISSUER, ANY GUARANTOR
AND THE TRUSTEE AND EACH HOLDER OF A NOTE, BY ITS ACCEPTANCE THEREOF, THEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREBY OR HEREBY. 
 SECTION 119.    Force Majeure.
In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware)

  
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services, or other unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility; it being understood that the Trustee shall use reasonable efforts that are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

ARTICLE TWO 
 NOTE FORMS

 SECTION 201.    Form and Dating. Provisions relating to the Initial Notes are set forth in Appendix I
attached hereto (the “Appendix”) which is hereby incorporated in, and expressly made part of, this Indenture. The Initial Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit 1 to
the Appendix which is hereby incorporated in, and expressly made a part of, this Indenture. The Notes may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer is subject, if any, or usage
(provided, however, that any such notation, legend or endorsement is in a form reasonably acceptable to the Issuer). Each Note shall be dated the date of its authentication. The terms of the Note set forth in the Appendix are part of
the terms of this Indenture. 
 SECTION 202.    Execution, Authentication, Delivery and Dating. The Notes shall
be executed on behalf of the Issuer by at least one Officer. The signature of any Officer on the Notes may be manual or facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the
Notes. 
 Notes bearing the manual or facsimile signature of an individual who was at any time the proper officer of the Issuer shall bind
the Issuer, notwithstanding that such individual has ceased to hold such office prior to the authentication and delivery of such Notes or did not hold such office at the date of such Notes. 

At any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver Notes executed by the Issuer to
the Trustee for authentication, together with an Issuer Order for the authentication and delivery of such Notes, and the Trustee in accordance with such Issuer Order shall authenticate and deliver such Notes. 

On the Issue Date, the Issuer shall deliver the Initial Notes in the aggregate principal amount of $400,000,000 executed by the Issuer to the
Trustee for authentication, together with an Issuer Order for the authentication and delivery of such Notes, specifying the principal amount and registered holder of each Note and directing the Trustee to authenticate the Notes and deliver the same
to the persons named in such Issuer Order and the Trustee in accordance with such Issuer Order shall authenticate and deliver such Initial Notes. At any time and from time to time after the Issue Date, the Issuer may deliver Additional Notes
executed by the Issuer to the Trustee for authentication, and in connection with any Automatic Exchange pursuant to Section 2.3(c)(vii) in the Appendix, the Global Note that is not a Transfer Restricted Note, together with an Issuer Order for
the authentication and delivery of such Additional Notes, or Global Note that is not a Transfer Restricted Note in connection with such Automatic Exchange, specifying the principal amount of and registered holder of each Note, directing the Trustee
to authenticate the Additional Notes, or Global Note that is not a Transfer Restricted Note in connection with such Automatic Exchange and deliver the same to the persons in such Issuer Order and the Trustee in accordance with such Issuer Order
shall authenticate and deliver such Additional Notes, or Global Note that is not a Transfer Restricted Note in connection with such Automatic Exchange. In each case, the Trustee shall receive an Officer’s Certificate and an Opinion of Counsel
of the Issuer that it may reasonably require in connection with such authentication of Notes. Such Issuer Order shall specify the amount of Notes to be authenticated and the date on which such Notes are authenticated. 

  
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 No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose unless there appears on such Note a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized signatory, and such certificate upon any Note shall be
conclusive evidence, and the only evidence, that such Note has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. 

In case the Issuer or any Guarantor, pursuant to Article Eight of this Indenture, shall be consolidated or merged with or into any other
Person or shall convey, transfer, lease or otherwise dispose of its properties and assets substantially as an entirety to any Person, and the successor Person resulting from such consolidation, or surviving such merger, or into which the Issuer or
such Guarantor shall have been merged, or the Person which shall have received a conveyance, transfer, lease or other disposition as aforesaid, shall have executed a supplemental indenture hereto with the Trustee pursuant to Article Eight of this
Indenture, any of the Notes authenticated or delivered prior to such consolidation, merger, conveyance, transfer, lease or other disposition may, from time to time, at the request of the successor Person, be exchanged for other Notes executed in the
name of the successor Person with such changes in phraseology and form as may be appropriate, but otherwise in substance of like tenor as the Notes surrendered for such exchange and of like principal amount; and the Trustee, upon Issuer Request of
the successor Person, shall authenticate and deliver Notes as specified in such request for the purpose of such exchange. If Notes shall at any time be authenticated and delivered in any new name of a successor Person pursuant to this Section in
exchange or substitution for or upon registration of transfer of any Notes, such successor Person, at the option of the Holders but without expense to them, shall provide for the exchange of all Notes at the time Outstanding for Notes authenticated
and delivered in such new name. 
 The Trustee may appoint an authenticating agent acceptable to the Issuer to authenticate Notes. An
authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with
Holders or an affiliate of the Issuer. 
 ARTICLE THREE 

THE NOTES 
 SECTION
301.    Title and Terms. The aggregate principal amount of Notes which may be authenticated and issued under this Indenture is not limited; provided, however, that any Additional Notes issued under this
Indenture are issued in accordance with Sections 202 and 313 hereof, as part of the same series as the Initial Notes. 
 The terms and
provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture, and the Issuer, the Guarantors and the Trustee, by their execution and delivery of this 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 this Indenture, the provisions of this Indenture shall govern and be controlling. 

The Notes shall be known and designated as the “4.375% Senior Unsecured Notes Due 2028” of the Issuer. The Stated Maturity of the
Notes shall be April 15, 2028, and the Notes shall bear interest at the rate of 4.375% per annum from the Issue Date, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable on October 15,
2020 and semiannually 

  
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thereafter on April 15 and October 15 in each year and at said Stated Maturity, until the principal thereof is paid or duly provided for and to the Person in whose name the Note (or any
Predecessor Note) is registered at the close of business on April 1 and October 1 immediately preceding such Interest Payment Date, whether or not a Business Day (each, a “Regular Record Date”). 

The principal of, and premium, if any, and interest on, the Notes shall be payable at the offices or agencies of the Issuer set forth in
Section 302, or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders of the Notes at their respective addresses set forth in the Note Register; provided, however, that all payments of principal,
premium, if any, and interest with respect to Notes represented by one or more permanent Global Notes registered in the name of or held by the Depositary will be made by wire transfer of immediately available funds to the Depositary. 

Holders shall have the right to require the Issuer to purchase their Notes, in whole or in part, in the event of a Change of Control
Repurchase Event pursuant to Section 1013. 
 The Notes shall be redeemable as provided in Article Eleven. 

The due and punctual payment of principal of, and premium, if any, and interest on, the Notes payable by the Issuer is fully and
unconditionally Guaranteed, to the extent set forth herein, by each of the Guarantors. 
 SECTION 302.    Note
Registrar, Transfer Agent and Paying Agent. The Issuer shall maintain one or more Paying Agents for the Notes in the continental United States. The Issuer hereby appoints the Trustee as the initial Paying Agent. 

The Issuer shall be responsible for making calculations called for under the Notes, including but not limited to determination of Redemption
Price or other amounts payable on the Notes. The Issuer will make the calculations in good faith and, absent manifest error, its calculations will be final and binding on the Holders. The Issuer will provide a schedule of its calculations to the
Trustee when requested by the Trustee, and the Trustee is entitled to rely conclusively on the accuracy of the Issuer’s calculations without independent verification. The Trustee shall forward the Issuer’s calculations to any Holder of the
Notes upon the written request of such Holder. 
 The Issuer will also maintain one or more registrars (each, a “Note
Registrar”) with offices in the continental United States. The Issuer will also maintain a transfer agent (each, a “Transfer Agent”) in the continental United States. The Issuer hereby appoints the Trustee as the initial
Note Registrar and Transfer Agent. The Note Registrar and the Transfer Agent shall keep a register of the Notes and of their transfer and exchange (the register maintained in such office and in any other office or agency designated pursuant to
Section 1002 being herein sometimes referred to as the “Note Register”). The Note Register shall be in written form or any other form capable of being converted into written form within a reasonable time. At all reasonable
times, the Note Register shall be open to inspection by the Trustee. The Issuer may change the Paying Agents, the Note Registrars or the Transfer Agents without prior notice to the Holders. The Issuer may have one or more co-registrars and one or more additional paying agents. The term “Note Registrar” includes any co-registrars. 

If any Notes are listed on an exchange and the rules of such exchange so require, the Issuer will satisfy any requirement of such exchange as
to paying agents, registrars and transfer agents and will comply with any notice requirements required under such exchange in connection with any change of Paying Agent, Registrar or Transfer Agent. 

  
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 The Issuer shall enter into an appropriate agency agreement with any Note Registrar or
Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Issuer shall notify the Trustee in writing of the name and address of any such Agent. If the Issuer fails to
maintain a Note Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 607. The Issuer or any Affiliate thereof may act as Paying Agent or Note Registrar. 

The Issuer acknowledges that neither the Trustee nor any Agent makes any representations as to the interpretation or characterization of the
transactions herein undertaken for tax or any other purpose, in any jurisdiction. 
 SECTION
303.    Denominations. The Notes shall be issuable only in registered form without coupons and only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

SECTION 304.    Temporary Notes. Pending the preparation of definitive Notes, the Issuer may execute, and upon
Issuer Order the Trustee shall authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Notes in lieu of
which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Notes may determine, as conclusively evidenced by their execution of such Notes. 

If temporary Notes are issued, the Issuer will cause definitive Notes to be prepared without unreasonable delay. After the preparation of
definitive Notes, the temporary Notes shall be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer designated for such purpose pursuant to Section 1002, without charge to the Holder.
Upon surrender for cancellation of any one or more temporary Notes, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Notes of authorized denominations. Until so
exchanged, the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as definitive Notes. 
 SECTION
305.    Registration of Transfer and Exchange. 
 Upon surrender for registration of transfer of any Note at the
office or agency of the Issuer designated pursuant to Section 1002, the Issuer shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes of any authorized
denomination or denominations of a like aggregate principal amount. 
 At the option of the Holder, Notes may be exchanged for other Notes
of any authorized denomination and of a like aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, the Issuer shall execute, and the Trustee shall
authenticate and deliver, the Notes which the Holder making the exchange is entitled to receive. 
 All Notes issued upon any registration
of transfer or exchange of Notes shall be the valid obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 

Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Issuer or the Note Registrar) be
duly endorsed, or be accompanied by written instruments of transfer, in form satisfactory to the Issuer and the Note Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing. The transferor of any Note shall also
provide or cause to be 

  
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provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations
under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. Neither the Note Registrar nor the Issuer will be required to
register the transfer or exchange of any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection of Notes to be
redeemed. 
 No service charge shall be made for any registration of transfer or exchange or redemption of Notes, but the Issuer may require
payment of a sum sufficient to cover any taxes, fees or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to Sections 202, 304, 906, 1013 or 1108 not
involving any transfer. 
 SECTION 306.    Mutilated, Destroyed, Lost and Stolen Notes. If (a) any mutilated
Note is surrendered to the Trustee, or (b) the Issuer and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Note, and there is delivered to the Issuer and the Trustee such security or indemnity to save
each of them harmless from any claim, loss, cost or liability resulting from such lost or stolen Note, then, in the absence of written notice to the Issuer or the Trustee that such Note has been acquired by a Protected Purchaser (as defined in Section 8-303 of the Uniform Commercial Code) (a “Protected Purchaser”), the Issuer shall execute and upon Issuer Order the Trustee shall authenticate and deliver, in exchange for any such
mutilated Note or in lieu of any such destroyed, lost or stolen Note, a new Note of like tenor and principal amount, bearing a number not contemporaneously outstanding. 

In case any such mutilated, destroyed, lost or stolen Note has become or is about to become due and payable, the Issuer in its discretion may,
instead of issuing a new Note, pay such Note. 
 Upon the issuance of any new Note under this Section, the Issuer may require the payment of
a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

Every new Note issued pursuant to this Section in lieu of any mutilated, destroyed, lost or stolen Note shall constitute an original
additional contractual obligation of the Issuer and each Guarantor, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes. 

SECTION 307.    Payment of Interest; Interest Rights Preserved. 

(a)    Interest on any Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date
shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Issuer maintained for such purpose pursuant to
Section 1002; provided, however, that, subject to Section 301 hereof, each installment of interest may at the Issuer’s option be paid by mailing a check for such interest, payable to or upon the written order of the Person
entitled thereto pursuant to Section 308, to the address of such Person as it appears in the Note Register; provided, however, that payment by wire transfer of immediately available funds shall be required with respect to principal of,
premium, if any, and interest on, all Notes in global form and all other Notes the Holders of which shall have provided wire transfer instructions to the Issuer and the Paying Agent at least ten days in advance of the applicable payment date. 

  
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 (b)    Any interest on any Note which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on the Regular Record Date by virtue of having been such Holder, and such defaulted interest and (to the extent lawful) interest on such
defaulted interest at the rate borne by the Notes (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”) may be paid by the Issuer, at its election in each case, as provided in clause
(1) or (2) below: 
 (1)    the Issuer may elect to make payment of any Defaulted Interest to the
Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the date of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the Issuer shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Issuer shall promptly notify the Trustee of such Special Record Date, and in the name and at the expense of the Issuer, the
Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given in the manner provided for in Section 107, not less than 10 days prior to such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor having been so given, such Defaulted Interest shall be paid to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close
of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2); or 

(2)    the Issuer may make payment of any Defaulted Interest in any other lawful manner not inconsistent
with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee. 
 (c)    Subject to the foregoing provisions of this
Section, each Note delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. 

SECTION 308.    Persons Deemed Owners. Prior to the due presentment of a Note for registration of transfer, the
Issuer, any Guarantor, the Trustee and any agent of the Issuer or the Trustee may treat the Person in whose name such Note is registered as the owner of such Note for the purpose of receiving payment of principal of, and premium, if any, and
(subject to Sections 305 and 307) interest on, such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, the Trustee or any agent of the Issuer or the Trustee shall be affected by notice to the
contrary. 
 SECTION 309.    Cancellation. All Notes surrendered for payment, redemption, registration of
transfer or exchange shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be cancelled by the Trustee in accordance with its customary procedures. The 

  
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Issuer may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and may
deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Notes previously authenticated hereunder which the Issuer has not issued and sold, and all Notes so delivered shall be cancelled by the Trustee in
accordance with its customary procedures. If the Issuer shall so acquire any of the Notes, however, such acquisition shall not operate as a satisfaction of the indebtedness represented by such Notes unless and until the same are surrendered to the
Trustee for cancellation. No Notes shall be authenticated in lieu of or in exchange for any Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Notes held by the Trustee shall be disposed of by
the Trustee in accordance with its customary procedures. 
 SECTION 310.    Computation of Interest. Interest on
the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 

SECTION 311.    Transfer and Exchange. The Notes shall be issued in registered form and shall be transferable only
upon the surrender of a Note for registration of transfer. When a Note is presented to the Note Registrar or a co-registrar with a request to register a transfer, the Note Registrar shall register the transfer as requested if the requirements of
this Indenture and Section 8-401(a) of the Uniform Commercial Code are met. When Notes are presented to the Note Registrar or a co-registrar with a request to
exchange them for an equal principal amount of Notes of other denominations, the Note Registrar shall make the exchange as requested if the same requirements are met. 

SECTION 312.    CUSIP, ISIN and Common Code Numbers. The Issuer in issuing the Notes may use CUSIP, ISINs and
“Common Code” numbers (in each case, if then generally in use) in addition to serial numbers, and, if so, the Trustee shall use such CUSIP, ISINs and “Common Code” numbers in addition to serial numbers in notices of redemption,
repurchase or other notices to Holders as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such CUSIP, ISINs and “Common Code” numbers either
as printed on the Notes or as contained in any notice of a redemption or repurchase or other notice and that reliance may be placed only on the serial or other identification numbers printed on the Notes, and any such redemption or repurchase or
other notice shall not be affected by any defect in or omission of such numbers. The Issuer will promptly notify the Trustee in writing of any change in the CUSIP, ISINs and “Common Code” numbers applicable to the Notes. 

SECTION 313.    Issuance of Additional Notes. The Issuer may issue additional Notes having identical terms and
conditions to the Initial Notes issued on the Issue Date (the “Additional Notes”). The Initial Notes issued on the Issue Date and any Additional Notes subsequently issued shall be treated as a single class for all purposes
under this Indenture; provided, however, that Additional Notes will not be issued with the same CUSIP, if any, as Initial Notes unless such Additional Notes are fungible with Initial Notes for U.S. Federal income tax purposes. 

ARTICLE FOUR 

SATISFACTION AND DISCHARGE 

SECTION 401.    Satisfaction and Discharge of Indenture. This Indenture shall upon Issuer Request and at the
Issuer’s expense cease to be of further effect (except as set forth in the last paragraph of this Section and as to surviving rights of registration of transfer or exchange of Notes 

  
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expressly provided for herein or pursuant hereto) and the Trustee, at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture when:

 (1)    either, 

(A)    all Notes that have been authenticated (other than (i) Notes which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 306 and (ii) Notes for whose payment money has been deposited in trust with the Trustee or any Paying Agent or segregated and held in trust by the Issuer and thereafter
repaid to the Issuer or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

(B)    all such Notes that have not been delivered to the Trustee for cancellation, 

(i)    have become due and payable by reason of the giving of a notice of redemption pursuant to
Section 1105 or otherwise, or 
 (ii)    will become due and payable by reason of the giving of a
notice of redemption or otherwise within one year, 
 and the Issuer or any Guarantor, in the case of (i) or (ii) above, (x) has
irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of the Notes, cash in U.S. dollars, non-callable Government Securities, or a
combination thereof, in amounts as will be sufficient, without consideration of any reinvestment of interest to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation, for principal of, and interest and
premium, if any, on, the Notes to the Stated Maturity or Redemption Date, as the case may be, and (y) solely in the case in which Government Securities are being deposited with the Trustee pursuant to the foregoing clause (x), deliver to the
Trustee an opinion of an investment bank, appraisal firm or firm of independent public accountants, in each case, that is nationally recognized in the United States, stating that such amounts deposited are sufficient, without consideration of any
reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal of, and interest or premium, if any, on, the Notes to the Stated Maturity or Redemption Date; 

(2)    in respect of clause (1)(B), no Default has occurred and is continuing on the date of the deposit
(other than a Default resulting from the borrowing of funds to be applied to such deposit and any similar deposit relating to other Indebtedness and, in each case, the granting of Liens to secure such borrowings) and the deposit shall not result in
a breach or violation of, or constitute a default under any other instrument to which the Issuer or any Guarantor is a party or by which the Issuer or any Guarantor is bound (other than with respect to the borrowing of funds to be applied
concurrently to make the deposit required to effect such satisfaction and discharge and any similar concurrent deposit relating to other Indebtedness and, in each case, the granting of Liens to secure such borrowings); 

(3)    the Issuer or any Guarantor has paid or caused to be paid all sums payable by it under this
Indenture; 
 (4)    the Issuer has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of such Notes at the Stated Maturity or on the Redemption Date, as the case may be; and 

  
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 (5)    the Issuer has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein to the satisfaction and discharge of this Indenture have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer to the Trustee under Section 607, the
obligations of the Issuer to any Authenticating Agent under Section 612 and, if money or Government Securities shall have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003 shall survive such satisfaction and discharge. 
 SECTION
402.    Application of Trust Money. Subject to the provisions of the last paragraph of Section 1003, all money or Government Securities deposited with the Trustee pursuant to Section 401 shall be held in trust
and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) of the principal (and premium, if any) and
interest for whose payment such money or Government Securities has been deposited with the Trustee; but such money or Government Securities need not be segregated from other funds except to the extent required by law. 

If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 401 by reason of any
legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s and any Guarantor’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 401 until such time as the Trustee or Paying Agent is permitted to apply all such money or Government Securities in accordance with Section 401;
provided, however, that if the Issuer has made any payment of principal of, and premium, if any, or interest on, any Notes because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such
Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 
 ARTICLE FIVE 

REMEDIES 
 SECTION
501.    Events of Default. “Event of Default”, wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it be voluntary or involuntary or be effected
by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1)    a default in the payment of interest on the Notes when due that continues for 30 days; 

(2)    a default in the payment when due (at maturity, upon redemption, upon required purchase or
otherwise) of the principal of, or premium, if any, on the Notes; 
 (3)    the failure by the Issuer to
comply with any of the provisions described under Article Eight hereof; 
 (4)    the failure by the
Issuer for a period of 30 days after written notice to the Issuer by the Trustee, or by the Holders of at least 25% in aggregate principal amount of the Outstanding Notes to the Issuer and the Trustee, to comply with the provisions under
Section 1013 (other than a failure to purchase the Notes); 

  
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 (5)    the failure by the Issuer or any of its
Subsidiaries for 60 days after written notice by the Trustee or the Holders of at least 25% in aggregate principal amount of the Outstanding Notes to the Issuer and the Trustee to comply with any of the agreements in this Indenture (other than those
failures referred to in clauses (1), (2), (3) and (4) above); 
 (6)    a default under any
mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness for money borrowed by the Issuer or any of its Subsidiaries (or the payment of which is Guaranteed by the Issuer or any of its
Subsidiaries, other than Indebtedness owed to the Issuer or any of its Subsidiaries), whether such Indebtedness or Guarantee now exists or is created after the Issue Date, if that Default: 

(A)    is caused by a failure to make principal payments (including a payment at final maturity)
aggregating in excess of $75.0 million on any such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or 

(B)    results in the acceleration of such Indebtedness prior to its express stated maturity, and, in each
case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $75.0 million or
more at one time outstanding; 
 (7)    the failure by the Issuer or any Significant Subsidiary to pay
final judgments entered by a court or courts of competent jurisdiction aggregating in excess of $75.0 million (net of amounts covered by insurance policies issued by reputable insurance companies), which final judgments are not paid, discharged
or stayed, for a period of more than 60 days after the applicable judgment becomes final, and, with respect to any such judgments covered by insurance, an enforcement proceeding has been commenced by any creditor upon such judgment or decree which
is not promptly stayed; 
 (8)    except as permitted by this Indenture, any Note Guarantee of any
Subsidiary of the Issuer that is a Significant Subsidiary, or of any group of Subsidiaries of the Issuer that, taken together as of the date of the most recent audited financial statements of the Issuer, would constitute a Significant Subsidiary, is
held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect or any Guarantor denies or disaffirms its obligations under its Note Guarantee, other than by reason of the release of such Note
Guarantee in accordance with the terms of this Indenture; and 
 (9)    any of the following events with
respect to the Issuer or any Significant Subsidiary: 
 (A)    the Issuer or any Significant Subsidiary
(or any group of Subsidiaries that taken together (as of the latest consolidated financial statements of the Issuer made available to the Holders) would constitute a Significant Subsidiary) pursuant to or within the meaning of any Bankruptcy Law:

 (i)    commences a voluntary case; 

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

  
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 (iii)    consents to the appointment of a custodian of
it or for all or substantially all of its property; 
 (iv)    takes any comparable action under any
foreign laws relating to insolvency; or 
 (B)    a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that: 
 (i)    is for relief against the Issuer or any Significant
Subsidiary (or any group of Subsidiaries that taken together (as of the latest consolidated financial statements of the Issuer made available to the Holders) would constitute a Significant Subsidiary) in an involuntary case; 

(ii)    appoints a custodian of the Issuer or any Significant Subsidiary (or any group of Subsidiaries
that taken together (as of the latest consolidated financial statements of the Issuer made available to the Holders) would constitute a Significant Subsidiary) or for all or substantially all of its property; or 

(iii)    orders the winding up or liquidation of the Issuer or any Significant Subsidiary (or any group of
Subsidiaries that taken together (as of the latest consolidated financial statements of the Issuer made available to the Holders) would constitute a Significant Subsidiary); 

(iv)    and the order or decree remains unstayed and in effect for 60 days. 

SECTION 502.    Acceleration of Maturity; Rescission and Annulment. 

(a)    If any Event of Default (other than an Event of Default specified in Section 501(9) above with respect to the
Issuer) occurs and is continuing, the Trustee or the Holders of at least 25.00% in principal amount of the Outstanding Notes issued under this Indenture may declare the principal of, and interest, premium, if any, and any other monetary obligations
on, all the Outstanding Notes to be due and payable immediately, by a notice in writing to the Issuer (and to the Trustee if given by Holders). 

(b)    Upon the effectiveness of a declaration under Section 502(a), such principal, premium, if any, and interest
will be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising under Section 501(9) with respect to the Issuer, any Subsidiary of the Issuer that is a Significant Subsidiary or any group of
Subsidiaries of the Issuer that, taken together, would constitute a Significant Subsidiary, all Outstanding Notes will become due and payable immediately without further action or notice. 

(c)    If a Default for a failure to report or failure to deliver a required certification in connection with another
Default (the “Initial Default”) occurs, then at the time such Initial Default is cured, such Default for a failure to report or failure to deliver a required certificate in connection with another Default that resulted solely
because of that Initial Default will also be cured without any further action. Any Default for the failure to comply with the provisions under Section 1009 or otherwise to deliver any notice or certificate pursuant to any other provision of
this Indenture shall be deemed to be cured upon the delivery of any such report required by Section 1009 or such notice or certificate, as applicable, even though such delivery is not within the prescribed period specified in this Indenture.

  
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 (d)    Holders of a majority in aggregate principal amount of the
Outstanding Notes, by written notice to the Trustee, may (i) at any time after a declaration of acceleration has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter provided in
this Article, rescind and annul such declaration and its consequences, so long as such rescission and annulment would not conflict with any judgment of a court of competent jurisdiction and all amounts owing to the Trustee have been paid and
(ii) waive an existing Default or Event of Default and its consequences hereunder (except a continuing Default in the payment of principal of, or interest or premium, if any, on, any Outstanding Note held by a
non-consenting Holder which has become due otherwise than by such declaration of acceleration); provided, however, that no such rescission or waiver shall affect any subsequent default or impair any
right consequent thereon. 
 (e)    Notwithstanding the preceding paragraph, in the event of any Event of Default
specified in Section 501(6) above, such Event of Default and all consequences thereof (excluding any resulting payment default, other than as a result of acceleration of the Notes) shall be annulled, waived and rescinded, automatically and
without any action by the Trustee or the Holders, if within 20 days after such Event of Default arose, 

(1)    the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged, or

 (2)    the holders thereof have rescinded or waived the acceleration, notice or action (as the case
may be) giving rise to such Event of Default, or 
 (3)    if the default that is the basis for such
Event of Default has been cured or is no longer continuing. 
 SECTION 503.    Additional Interest.
Notwithstanding anything else in this Indenture or in the Notes, in the event of the Issuer’s failure to comply with its obligations under Section 1009: (a) the sole remedy of the Holders and the Trustee after the occurrence of any such
failure shall, for the first 180 days following the occurrence of such failure, consist exclusively of the right to receive additional interest (“Additional Interest”) with respect to the Notes at a rate equal to 0.25% per
annum of the principal amount of such Notes, which Additional Interest shall accrue from and including the date on which such failure first occurred to the 180th day thereafter (or such earlier date on which such failure shall have been cured or
waived); (b) during such 180 day period, any such failure shall be deemed to not be an Event of Default; and (c) on the 181st day after such failure (if such failure shall not have been cured or waived prior to such 181st day), such failure
will then constitute an Event of Default without any further notice or lapse of time and the Notes will be subject to acceleration as provided in Section 502. If Additional Interest is payable on the Notes, the Issuer shall provide an
Officer’s Certificate to the Trustee on or before the Regular Record Date for each Interest Payment Date such Additional Interest is payable setting forth the accrual period and the amount of such Additional Interest payable. The Trustee may
provide a copy of such Officer’s Certificate relating to Additional Interest to any holder upon request. Unless and until a Responsible Officer of the Trustee receives such a certificate, the Trustee may assume without inquiry that no such
Additional Interest is payable. The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Additional Interest is payable, or with respect to the nature, extent, or calculation of the amount of any
Additional Interest owed, or with respect to the method employed in such calculation of any Additional Interest. If the Issuer shall have paid Additional Interest directly to the persons entitled to it, the Issuer shall deliver to the Trustee an
Officer’s Certificate setting forth the particulars of such payment. 

  
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 SECTION 504.    Collection of Indebtedness and Suits for Enforcement
by Trustee. The Issuer covenants that if: 
 (1)    default is made in the payment of any installment
of interest on any Note when such interest becomes due and payable and such default continues for a period of 30 days, or 

(2)    default is made in the payment of the principal of or premium, if any, on any Note at the Maturity
thereof, 
 the Issuer will, upon demand of the Trustee, pay to the Trustee for the benefit of the Holders of such Notes, the whole amount then due and
payable on such Notes for principal of, and interest or premium, if any, on, the Notes when due, and interest or premium, if any, on any overdue principal, and, to the extent that payment of such interest shall be legally enforceable, upon any
overdue installment of interest, at the rate borne by the Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel. 
 If the Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its
own name as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Issuer, any Guarantor or
any other obligor upon the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Issuer, any Guarantor or any other obligor upon the Notes, wherever situated. 

If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of
the Holders under this Indenture and the Note Guarantees by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, including seeking recourse against any Guarantor, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy, including seeking recourse against any Guarantor. 

SECTION 505.    Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Issuer or any other obligor including any Guarantor, upon the Notes or the property of the Issuer or of such other obligor or
their creditors, the Trustee (irrespective of whether the principal of the Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Issuer for
the payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 

(1)    to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing
and unpaid in respect of the Notes and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(2)    to collect and receive any moneys or other property payable or deliverable on any such claims and to
distribute the same; 

  
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 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or similar official in any such
judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay the Trustee any amount due it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any
plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. The Trustee may, on behalf of
the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ committee or other similar committee. 

SECTION 506.    Trustee May Enforce Claims Without Possession of Notes. All rights of action and claims under this
Indenture or the Notes may be prosecuted and enforced by the Trustee without the possession of any of the Notes or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its
own name and as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit
of the Holders in respect of which such judgment has been recovered. 
 SECTION 507.    Application of Money
Collected. Any money or property collected by the Trustee pursuant to this Article, or after the occurrence and during the continuance of an Event of Default any money or property distributable in respect of the Issuer’s or Guarantors’
obligations under this Indenture, shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, interest or premium, if any, upon presentation of the Notes
and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST: To
the payment of all amounts due the Trustee (including any predecessor Trustee) under Section 607; 
 SECOND: To
the payment of the amounts then due and unpaid for principal of, and interest or premium, if any, on, the Notes in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind,
according to the amounts due and payable on such Notes for principal, and interest or premium, if any, respectively; and 

THIRD: The balance, if any, to the Issuer or as a court of competent jurisdiction may direct in writing; provided,
however, that all sums due and owing to the Holders and the Trustee have been paid in full as required by this Indenture. 

The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 507. 

SECTION 508.    Limitation on Suits. Except to enforce the right to receive payment of principal, premium, if any,
or interest when due, no Holder of a Note shall pursue any remedy with respect to this Indenture or the Notes, unless: 

(1)    such Holder has previously given the Trustee written notice that an Event of Default is continuing;

  
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 (2)    Holders of at least 25.00% in aggregate principal
amount of the Outstanding Notes have requested in writing the Trustee to pursue the remedy; 

(3)    such Holder or Holders have offered and, if requested, provided to the Trustee security or indemnity
reasonably satisfactory to the Trustee against any loss, liability or expense; 
 (4)    the Trustee does
not comply with such request within 60 days after receipt of the request and the offer of security or indemnity; and 

(5)    during such 60-day period, Holders of a majority in
aggregate principal amount of the Outstanding Notes do not give the Trustee a direction inconsistent with such request, 
 it being understood and intended
that no one or more Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or the Note Guarantees to affect, disturb or prejudice the rights of any other Holders, or to obtain or to seek
to obtain priority or preference over any other Holders or to enforce any right under this Indenture or the Note Guarantees, except in the manner herein provided and for the equal and ratable benefit of all the Holders (it being further understood
that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 

SECTION 509.    Unconditional Right of Holders to Receive Principal, Premium and Interest. Notwithstanding any
other provision in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment, as provided herein (including, if applicable, Article Eleven) and in such Note of the principal of, and premium,
if any, and (subject to Section 307) interest on, such Note on the respective Stated Maturities expressed in such Note (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment on or
after such respective dates, and such rights shall not be impaired without the consent of such Holder. 
 SECTION
510.    Restoration of Rights and Remedies. If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture or the Note Guarantees and such proceeding has been discontinued or
abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuer, any Guarantor, any other obligor of the Notes, the Trustee and the
Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

SECTION 511.    Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Notes in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and
every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or
remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION 512.    Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Note to
exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

  
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 SECTION 513.    Control by Holders. The Holders of not less than
a majority in principal amount of the Outstanding Notes shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or of exercising any trust or power conferred on the Trustee with
respect to the Notes; provided, however, that: 
 (1)    such direction shall not be in
conflict with any rule of law or with this Indenture, and such Holders have complied with Section 603(6), 

(2)    the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with
such direction, and 
 (3)    the Trustee need not take any action which might involve it in personal
liability or be unjustly prejudicial to the Holders not consenting (it being further understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unjustly prejudicial to such Holders).

 SECTION 514.    Waiver of Past Defaults. Subject to Sections 509 and 902, the Holders of not less than a
majority in principal amount of the Outstanding Notes by written notice to the Trustee may on behalf of the Holders of all such Notes waive any existing Default or Event of Default and its consequences hereunder (except (1) a continuing Default
or Event of Default in the payment of principal of, or interest or premium, if any, on, such Note held by a non-consenting Holder, or (2) in respect of a covenant or provision hereof or in any Note
Guarantee which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Note affected, which shall require the consent of all such Holders) and rescind any acceleration and its consequences with respect
to the Notes; provided, however, such rescission would not conflict with any judgment of a court of competent jurisdiction. 

Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

SECTION 515.    Waiver of Stay or Extension Laws. Each of the Issuer, the Guarantors and any other obligor on the
Notes covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and each of the Issuer, the Guarantors and any other obligor on the Notes (to the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

SECTION 516.    Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorney’s
fees and expenses, against any 

  
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party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 516 does not apply to a suit by the Trustee, a
suit by a Holder relating to right to payment hereof, or a suit by Holders of more than 10% in principal amount of the then Outstanding Notes. 

ARTICLE SIX 
 THE
TRUSTEE 
 SECTION 601.    Duties of the Trustee. 

(a)    Except during the continuance of an Event of Default, 

(1)    the Trustee undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2)    in the absence of bad faith, gross negligence or willful misconduct on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such
certificates or opinions specifically required by any provision hereof to be provided to it, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture, but not to verify the
contents thereof including, any mathematical calculations or other facts stated therein. 
 (b)    If an Event of
Default has occurred and is continuing of which a Responsible Officer has actual knowledge or of which written notice of such Event of Default shall have been given to a Responsible Officer by the Issuer, any other obligor of the Notes or by Holders
of at least 25% of the aggregate principal amount of the Notes, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent Person would exercise
or use under the circumstances in the conduct of such Person’s own affairs. 
 (c)    No provision of this
Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 

(1)    this paragraph (c) shall not be construed to limit the effect of paragraph (a) of this
Section; 
 (2)    the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer or Agent, unless it shall be proved in a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and 

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

  
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 (d)    Whether or not therein expressly so provided, every provision of
this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 

(e)    No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers vested in it by this Indenture, if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 SECTION 602.    Notice of Defaults.
Within 90 days after the earlier of receipt from the Issuer of notice of the occurrence of any Default or Event of Default hereunder or the date when such Default or Event of Default becomes actually known to a Responsible Officer of the Trustee,
the Trustee shall transmit notice of such Default or Event of Default hereunder known to the Trustee to the Holders, unless such Default or Event of Default shall have been cured or waived; provided, however, that, except in the case
of a Default or Event of Default in the payment of the principal of, or interest or premium, if any, on, any Note, the Trustee shall be protected in withholding such notice if and so long as Responsible Officers of the Trustee in good faith
determine that the withholding of such notice is in the interest of the Holders. 
 SECTION 603.    Certain Rights of
Trustee.  
 (1)    the Trustee may conclusively rely and shall be fully protected in acting
or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document (whether in original or
facsimile form) believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(2)    any request or direction of the Issuer mentioned herein shall be sufficiently evidenced by an Issuer
Request or Issuer Order or Officer’s Certificate and any resolution of the Board of Directors may be sufficiently evidenced by a certified Board Resolution and an Opinion of Counsel; 

(3)    whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter
be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Issuer Request,
Issuer Order, Officer’s Certificate or Opinion of Counsel and shall be full and complete authorization in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(4)    the Trustee shall not be charged with knowledge of any fact, Default or Event of Default with
respect to the Notes unless either (i) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (ii) written notice of such fact, Default or Event of Default shall have been given by the Issuer or by the
Holders of at least 25% of the aggregate principal amount of the Notes and received by a Responsible Officer at the Corporate Trust Office and references this Indenture and the Notes. Delivery of reports to the Trustee pursuant to Section 1009
shall not constitute knowledge of, or notice to, the Trustee of the information contained therein; 

(5)    the Trustee may consult with counsel of its own selection and the advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with the advice or opinion of such counsel or Opinion of Counsel; 

  
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 (6)    the Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders of the Notes pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory
to it against any loss, liability or expense; 
 (7)    the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, or
inquire as to the performance by the Issuer or the Guarantors of any of their covenants in this Indenture or inquire as to the performance by the Issuer or the Guarantors of any of their covenants in this Indenture, but the Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Issuer, personally or by agent or attorney at the expense of the Issuer and shall incur no liability of any kind by reason of such inquiry or investigation; 

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

(9)    the Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 

(10)    the rights, privileges, protections, immunities and benefits given to the Trustee, including its
rights to be compensated, reimbursed and indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder whether as an Agent or otherwise, and each agent, custodian and other Person employed to act
hereunder; 
 (11)    the Trustee may request that the Issuer deliver an Incumbency Certificate
substantially in the form of Exhibit B hereto setting forth the names of individuals or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Incumbency Certificate may be signed by any person
authorized to sign an Officer’s Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded; 

(12)    the Trustee shall not be required to give any note, bond or surety in respect of the execution of
the trusts and powers under this Indenture; 
 (13)    the permissive right of the Trustee to take
actions permitted by this Indenture shall not be construed as an obligation or duty to do so; and 

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

  
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 SECTION 604.    Trustee Not Responsible for Recitals or Issuance of
Notes. The recitals contained herein and in the Notes, except for the Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and neither the Trustee nor any Agent assumes responsibility for their
correctness. Neither the Trustee nor any Agent makes representations as to and shall not be responsible for the validity or sufficiency of this Indenture or of the Notes or Note Guarantees, except that the Trustee represents that it is duly
authorized to execute and deliver this Indenture, authenticate the Notes and perform its obligations hereunder. Neither the Trustee nor any Agent shall be accountable for the use or application by the Issuer of Notes or the proceeds thereof or the
Offering Memorandum or any other documents used in connection with the sale or distribution of the Notes. The Trustee shall not be accountable for any money paid to the Issuer or upon the Issuer’s direction under any provision of this
Indenture. The Trustee shall not be bound to ascertain or inquire as to the performance, observance, or breach of any covenants, conditions, representations, warranties or agreements on the part of the Issuer or the Guarantors but the Trustee may
require full information and advice as to the performance of the aforementioned covenants. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Notes or the Note Guarantees. The Trustee
shall have no obligation to pursue any action that is not in accordance with applicable law. The Trustee shall have no obligation to independently determine or verify if any Rating Event or other event has occurred or notify the Holders of any event
dependent upon the rating of the Notes, or if the rating on the Notes has been changed, suspended or withdrawn by any Rating Agency. The Trustee shall have no obligation to independently determine or verify if any Change of Control, Change of
Control Repurchase Event, or any other event has occurred or if a Change of Control Offer is required to be made, or notify the Holders of any such event. 

SECTION 605.    May Hold Notes. The Trustee, any Paying Agent, any Note Registrar or any other agent of the Issuer
or of the Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer with the same rights it would have if it were not the Trustee, Paying Agent, Note Registrar or such other
agent; provided, however, that, if it acquires any “conflicting interest” (within the meaning of TIA Section 310(b)), it must eliminate such conflict within 90 days or resign. 

SECTION 606.    Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other
funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Issuer. 

SECTION 607.    Compensation and Reimbursement. The Issuer and the Guarantors, jointly and severally, agree: 

(1)    to pay to the Trustee from time to time such compensation as shall be agreed in writing between the
Issuer and the Trustee for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2)    except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or willful misconduct as finally adjudicated by a court of competent jurisdiction; and 

  
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 (3)    to indemnify the Trustee (including its officers,
directors, employees and agents) and any predecessor Trustee for, and to hold it harmless against, any and all loss, liability, claim, damage or fee, cost or other expense, including taxes (other than the taxes based on the income of the Trustee)
and reasonable attorneys’ fees and expenses, incurred without negligence or willful misconduct on its part as finally adjudicated by a court of competent jurisdiction, arising out of or in connection with the acceptance or administration of
this trust, including the reasonable costs and expenses of defending itself against any claim regardless of whether the claim is asserted by the Issuer, a Guarantor, a Holder or any other Person or liability in connection with the exercise or
performance of any of its powers or duties hereunder, including the reasonable costs and expenses of enforcing this Indenture or a Note Guarantee against the Issuer or a Guarantor (including this Section 607), and including reasonable
attorneys’ fees and expenses and court costs incurred in connection with any action, claim or suit brought to enforce the Trustee’s right to compensation, reimbursement or indemnification. 

The obligations of the Issuer and the Guarantors under this Section to compensate the Trustee, to pay or reimburse the Trustee for expenses,
disbursements and advances and to indemnify and hold harmless the Trustee shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture and resignation or removal of the Trustee. As security
for the performance of such obligations of the Issuer, the Trustee shall have a claim prior to the Notes upon all property and funds held or collected by the Trustee as such, except funds held in trust solely for the benefit of the Holders entitled
thereto for the payment of principal of, or interest or premium, if any, on, particular Notes. 
 When the Trustee incurs expenses or
renders services in connection with an Event of Default specified in Section 501(7), the expenses (including the reasonable charges and expenses of its counsel) of and the compensation for such services are intended to constitute expenses of
administration under any applicable Bankruptcy Law. “Trustee” for the purposes of this Section 607 shall include any predecessor Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person
employed to act hereunder as permitted by this Indenture; provided, however, that the negligence or willful misconduct of any predecessor Trustee hereunder shall not affect the rights of any other successor Trustee hereunder (other than a
successor Trustee that is successor by merger or consolidation to such predecessor Trustee). 
 The provisions of this Section shall survive
the satisfaction and discharge of this Indenture and resignation or removal of the Trustee. 
 SECTION
608.    Corporate Trustee Required; Eligibility. There shall be at all times a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and Section 310(a)(5) and shall have a
combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of federal, State, territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

SECTION 609.    Resignation and Removal; Appointment of Successor. 

(a)    No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 610. 

  
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 (b)    The Trustee may resign at any time by giving written notice
thereof to the Issuer. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee by written instrument, a copy of which shall be delivered to the resigning Trustee and a copy to the successor Trustee. If the
instrument of acceptance by a successor Trustee required by Section 610 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Issuer, any court of competent jurisdiction for the appointment of a successor Trustee. 
 (c)    The Trustee may be
removed at any time by Act of the Holders of not less than a majority in principal amount of the Outstanding Notes, delivered to the Trustee and to the Issuer. If the instrument of acceptance by a successor Trustee required by Section 610 shall
not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Issuer, any court of competent jurisdiction for the appointment of a successor Trustee.

 (d)    The Trustee shall comply with TIA Section 310(b); provided, however, that, there shall be excluded
from the operation of TIA Section 310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuer are outstanding if the requirements for such exclusion set forth
in TIA Section 310(b)(1) are met. 
 (e)    If the Trustee shall resign, be removed or become incapable of acting,
or if a vacancy shall occur in the office of Trustee for any cause, the Issuer shall promptly appoint a successor Trustee. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee
shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Notes delivered to the Issuer and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become
the successor Trustee and supersede the successor Trustee appointed by the Issuer. If no successor Trustee shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner hereinafter provided, any Holder who has been
a bona fide Holder of a Note for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(f)    The Issuer shall give notice of each resignation and each removal of the Trustee and each appointment of a
successor Trustee to the Holders in the manner provided for in Section 107. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. 

SECTION 610.    Acceptance of Appointment by Successor. 

(a)    Every successor Trustee appointed hereunder shall execute, acknowledge and deliver to the Issuer and to the retiring
Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on request of the Issuer or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all
the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. Upon request of any such successor Trustee, the Issuer shall
execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. 

(b)    No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee
shall be qualified and eligible under this Article. 

  
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 SECTION 611.    Merger, Conversion, Consolidation or Succession to
Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder; provided, however, such corporation shall be otherwise qualified and eligible under this Article,
without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Notes shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or
consolidation to such authenticating Trustee may adopt such authentication and deliver the Notes so authenticated with the same effect as if such successor Trustee had itself authenticated such Notes. In case at that time any of the Notes shall not
have been authenticated, any successor Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor Trustee. In all such cases such certificates shall have the full force and effect which this
Indenture provides for the certificate of authentication of the Trustee shall have; provided, however, that, the right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Notes in the name of any
predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 
 SECTION
612.    Appointment of Authenticating Agent. At any time when any of the Notes remain Outstanding, the Trustee may appoint one or more agents (each an “Authenticating Agent”) with respect to the
Notes which shall be authorized to act on behalf of the Trustee to authenticate Notes and the Trustee shall give written notice of such appointment to all Holders of Notes with respect to which such Authenticating Agent will serve, in the manner
provided for in Section 107. Notes so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced by
an instrument in writing signed by an authorized signatory of the Trustee, and a copy of such instrument shall be promptly furnished to the Issuer. Wherever reference is made in this Indenture to the authentication and delivery of Notes by the
Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the
Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Issuer. 
 Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all
or substantially all the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent; provided, however, such corporation shall be otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustee and to the Issuer. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Issuer. Upon
receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Issuer and shall give written notice of such appointment to all Holders of Notes, in the manner provided for in Section 107. Any successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of
this Section. 

  
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 The Issuer agrees to pay to each Authenticating Agent from time to time such compensation
for its services under this Section as shall be agreed in writing between the Issuer and such Authenticating Agent. 
 If an appointment is
made pursuant to this Section, the Notes may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form: 

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

 

							
		 		 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION
		 		 		 	 as Trustee

				
	Date:                                     
	 		 		 	By:                                     
                                         
               
		 		 		 	as Authenticating Agent

 SECTION 613.    Preferential Collection of Claims Against Issuer. 

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

HOLDERS LISTS AND REPORTS BY TRUSTEE AND ISSUER 

SECTION 701.    Issuer to Furnish Trustee Names and Addresses. The Issuer will furnish or cause to be furnished to
the Trustee: 
 (1)    semiannually, not more than 10 days after each Regular Record Date, a list, in
such form as the Trustee may reasonably require, of the names and addresses of the Holders as of such Regular Record Date; and 

(2)    at such other times as the Trustee may reasonably request in writing, within 30 days after receipt
by the Issuer of any such request, a list of similar form and content to that in clause (1) hereof as of a date not more than 15 days prior to the time such list is furnished; 

provided, however, that, if and so long as the Trustee shall be a Note Registrar, no such list need be furnished. 

SECTION 702.    Reports by Trustee. 

Within 60 days after August 1 of each year commencing with August 1, 2020, the Trustee shall transmit to the Holders of Notes (with a
copy to the Issuer at the address specified in Section 106), in the manner and to the extent provided in TIA Section 313(c), a brief report dated as of such August 1 that complies with TIA Section 313(a). The Trustee also shall
comply with TIA Section 313(b). A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Notes are listed, and with the SEC and mailed to the Issuer.
The Issuer will promptly notify the Trustee in writing when the Notes are listed on any stock exchange and any delisting thereof. 

  
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 ARTICLE EIGHT 

MERGER, CONSOLIDATION OR SALE 

OF ALL OR SUBSTANTIALLY ALL ASSETS 

SECTION 801.    Issuer May Consolidate, Etc., Only on Certain Terms. 

(a)    The Issuer will not, directly or indirectly: (i) consolidate or merge with or into another Person (whether or
not the Issuer is the surviving Person), or (ii) sell, assign, transfer, convey, lease or otherwise dispose of all or substantially all of the properties or assets of the Issuer and its Subsidiaries, taken as a whole, in one or more related
transactions, to another Person unless: 
 (1)    either (A) in the case of a consolidation or
merger, the Issuer is the surviving Person or (B) the Person formed by or surviving any such consolidation or merger (if other than the Issuer) or to which such sale, assignment, transfer, conveyance, lease or other disposition has been made
(the “Successor Company”) is an entity organized or existing under the laws of the United States, any state of the United States or the District of Columbia; and, if the Successor Company is not a corporation, a co-obligor of the Notes is a corporation organized or existing under any such laws; 

(2)    the Successor Company assumes all the obligations of the Issuer under this Indenture and the Notes
pursuant to a supplemental indenture in form and substance reasonably satisfactory to the Trustee; 

(3)    immediately after such transaction, no Default exists; and 

(4)    in any transaction in which the Issuer is not the surviving Person, the Successor Company shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, assignment, transfer, conveyance, lease or other disposition and such supplemental indentures, if any, comply with
this Indenture. 
 (b)    The Successor Company will succeed to, and be substituted for, the Issuer under this Indenture
and the Notes, as applicable and the Issuer will automatically be released and discharged from its obligations thereunder; provided that, in the case of a lease of all or substantially all of the Issuer’s assets, the predecessor company
shall not be so released. 
 (c)    Notwithstanding anything else herein, (A) Section 8.01(a) shall not apply
to any sale, assignment, transfer, conveyance, lease or other disposition of assets between or among the Issuer and its Subsidiaries and (B) clause (3) of Section 801(a), shall not apply to (1) the Issuer consolidating with, merging
into or selling, assigning, transferring, conveying, leasing or otherwise disposing of all or part of its properties and assets to one of the Issuer’s Subsidiaries for any purpose, (2) any Subsidiary consolidating with, merging into or
selling assigning, transferring, conveying, leasing or otherwise disposing of all or part of its properties and assets to the Issuer or to another Subsidiary for any purpose (provided that, in the event that such Subsidiary is a Guarantor, it
may consolidate with, merge into or sell, assign transfer, convey, lease or otherwise dispose of all or part of its properties and assets solely to the Issuer or another Subsidiary who becomes a Guarantor), (3) the Issuer merging with or into an
Affiliate solely for the purpose of reincorporating in another jurisdiction, or (4) the Issuer converting into a Person organized or existing under the laws of a jurisdiction in the United States. 

SECTION 802.    Successor Substituted. Upon any consolidation or merger, or any sale, assignment, conveyance,
transfer, lease or disposition of all or substantially all of the assets of the Issuer 

  
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in accordance with Section 801 hereof, the successor Person formed by such consolidation or into which the Issuer is merged or the successor Person to which such sale, assignment,
conveyance, transfer, lease or disposition is made, shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such successor Person had been named as the Issuer
herein. When a successor Person assumes all obligations of its predecessor hereunder and under the Notes such predecessor shall be released from all obligations; provided, however, that in the event of a transfer or lease, the
predecessor shall not be released from the payment of principal and interest or other obligations on the Notes. 
 ARTICLE NINE 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

SECTION 901.    Amendments or Supplements Without Consent of Holders. Without the consent of any Holder, the
Issuer, any Guarantor (with respect to any amendment relating to its Note Guarantee) and the Trustee, at any time and from time to time, may amend or supplement this Indenture, the Notes and any related Note Guarantee, in form reasonably
satisfactory to the Trustee, for any of the following purposes: 
 (1)    to cure any ambiguity,
omission, mistake, defect or inconsistency; 
 (2)    to provide for uncertificated Notes in addition to
or in place of certificated Notes; 
 (3)    to provide for the assumption of the Issuer’s or a
Guarantor’s obligations to Holders of the Notes and the Note Guarantees in the case of a merger or consolidation or sale of all or substantially all of the Issuer’s or such Guarantor’s assets, as applicable; 

(4)    to make any change that would provide any additional rights or benefits to the Holders or that does
not materially adversely affect the legal rights under this Indenture of any such Holder; 
 (5)    to
conform the text of this Indenture, the Note Guarantees or the Notes to any provision of the “Description of Notes” section of the Offering Memorandum; 

(6)    to provide for the issuance of Additional Notes, in accordance with this Indenture; 

(7)    to allow any Guarantor to execute a supplemental indenture or Note Guarantee with respect to the
Notes; provided that any such supplemental indenture may be signed by the Issuer, the Guarantor providing the Note Guarantee, and the Trustee. 

(8)    to secure the Notes or add covenants for the benefit of the Holders of Notes or to surrender any
right or power conferred upon the Issuer or any Guarantor; 
 (9)    to comply with the requirements of
the SEC in order to effect or maintain the qualification of this Indenture under the TIA; 
 (10)    to
amend the provisions of this Indenture relating to the transfer and legending of Notes as permitted by this Indenture, including to facilitate the issuance and administration of the Notes; provided, however, that, (A) compliance with
this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (B) such amendment does not materially and adversely affect the rights of Holders to transfer
Notes; 

  
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 (11)    to evidence and provide for the acceptance and
appointment under this Indenture of a successor Trustee pursuant to the requirements of Sections 609 and 610 hereof; or 

(12)    to release a Guarantor of the Notes upon its sale or other permitted release from its Note
Guarantee; provided that such sale, designation, or release is in accordance with the applicable provisions of this Indenture. 

SECTION 902.    Amendments, Supplements or Waivers with Consent of Holders. 

(a)    With the consent of the Holders of not less than a majority in principal amount of the Outstanding Notes (including
any Additional notes, if any) voting as a single class (including consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), by Act of said Holders delivered to the Issuer and the Trustee, the Issuer, any
Guarantor (with respect to any Note Guarantee to which it is a party or this Indenture) and the Trustee may amend or supplement this Indenture, any Note Guarantee or the Notes for the purpose of adding any provisions hereto or thereto, changing in
any manner or eliminating any of the provisions or of modifying in any manner the rights of the Holders hereunder or thereunder and any existing Default (other than a Default in the payment of the principal of, or interest or premium, if any, on,
the Notes, except for a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture, the Notes or the Note Guarantees may be waived with the consent of the Holders of not less than a
majority in principal amount of the Outstanding Notes (including, Additional Notes, if any) voting as a single class (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes); provided,
however, that, without consent of the Holder of each Outstanding Note affected thereby, no such amendment, supplement or waiver shall, with respect to any Notes held by a non-consenting Holder: 

(1)    reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or
waiver; 
 (2)    reduce the principal of or change the Stated Maturity of any such Note or alter or
waive any of the provisions with respect to the redemption of the Notes (except those provisions set forth in Section 1013); 

(3)    reduce the rate of or change the time for payment of interest, including Default Interest on any
Note; 
 (4)    waive a Default in the payment of principal of, or interest or premium, if any, on, the
Notes, except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the Outstanding Notes and a waiver of the payment default that resulted from such acceleration; 

(5)    make any Note payable in money other than that stated in the Notes; 

(6)    make any change in Section 514 or the rights of Holders of the Notes to receive payments of
principal of, or interest or premium, if any, on, the Notes; 
 (7)    waive a redemption payment with
respect to any Note (other than a payment required by Section 1013); 

  
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 (8)    release any Guarantor from any of its obligations
under its Note Guarantee or this Indenture, except in accordance with the terms of this Indenture; or 

(9)    make any changes to this Section 902. 

(b)    It shall not be necessary for the consent of Holders under this Section 902 to approve the particular form of
any proposed amendment or waiver, and it shall be sufficient if such consent approves the substance thereof. 
 SECTION
903.    Execution of Amendments, Supplements or Waivers. In executing, or accepting the additional trusts created by, any amendment, supplement or waiver permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be provided with, and shall be fully protected in relying upon, the provision to the Trustee of evidence reasonably satisfactory to the Trustee of the consent of the Holders of Notes if applicable, and an
Officer’s Certificate and an Opinion of Counsel stating that the execution of such amendment, supplement or waiver is authorized and permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding
obligation of the Issuer and any Guarantors party thereto, enforceable against them in accordance with its terms, subject to customary exceptions and qualifications, and complies with the provisions hereof. Guarantors may, but shall not be required
to, execute supplemental indentures that do not modify such Guarantor’s Note Guarantee. The Trustee may, but shall not be obligated to, enter into any such amendment, supplement or waiver that affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 
 SECTION 904.    Effect of Amendments, Supplements or Waivers.
Upon the execution of any supplemental indenture, amendment or waiver under this Article, this Indenture shall be modified in accordance therewith, and such amendment, supplement or waiver shall form a part of this Indenture for all purposes; and
every Holder of Notes theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
 SECTION
905.    [Reserved]. 
 SECTION 906.    Reference in Notes to Supplemental Indentures.
Notes authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Issuer shall so determine, new Notes so modified as to conform, in the opinion of the Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and
delivered by the Trustee in exchange for Outstanding Notes. 
 SECTION 907.    Notice of Supplemental Indentures.
Promptly after the execution by the Issuer, any Guarantor and the Trustee of any supplemental indenture pursuant to the provisions of Section 902, the Issuer shall give notice thereof to the Holders of each Outstanding Note affected, in the
manner provided for in Section 107, setting forth in general terms the substance of such supplemental indenture. 
 ARTICLE TEN

 COVENANTS 

SECTION 1001.    Payment of Principal, Premium, if any, and Interest. The Issuer covenants and agrees for the
benefit of the Holders that it will duly and punctually pay the principal of, and premium, if any, and interest on, the Notes in accordance with the terms of the Notes and this Indenture. Principal, premium, if any, and interest shall be considered
paid on the date due if the Paying 

  
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Agent, if other than the Issuer, holds as of 12:00 noon Eastern Time on the due date money deposited by the Issuer in immediately available funds and designated for and sufficient to pay all
principal, premium, if any, and interest then due. 
 SECTION 1002.    Maintenance of Office or Agency. The
Issuer will maintain in the continental United States an office or agency where Notes may be presented or surrendered for payment, where Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the
Issuer in respect of the Notes and this Indenture may be served. The Corporate Trust Office of the Trustee shall be such office or agency of the Issuer in continental United States, unless the Issuer shall designate and maintain some other office or
agency for one or more of such purposes. The Issuer will give prompt written notice to the Trustee of any change in the location of such office or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall
fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Issuer hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands. 
 The Issuer may also from time to time designate one or more other offices or agencies
where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind any such designation; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its
obligation to maintain an office or agency in continental United States. The Issuer will give prompt written notice to the Trustee of any such designation or rescission and any change in the location of any such other office or agency. 

SECTION 1003.    Money for Notes Payments to Be Held in Trust. If the Issuer shall at any time act as its own
Paying Agent, it will, on or before each due date of the principal of, or premium, if any, or interest on, any of the Notes, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, or
premium, if any, or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee in writing of its action or failure so to act. 

Whenever the Issuer shall have one or more Paying Agents for the Notes, it will, on or before each due date of the principal of, or premium,
if any, or interest on, any Notes in accordance with Section 1001, deposit with a Paying Agent a sum sufficient to pay the principal, interest or premium, if any, so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee in writing of such action or any failure so to act. 

Each Paying Agent agrees: 

(1)    that it will hold all sums received by it as Paying Agent for the payment of the principal of or
interest on any Notes in trust for the benefit of the Holders or of the Trustee; 
 (2)    that it will
give the Trustee notice of any failure by the Issuer to make any payment of the principal of or interest on any Notes and any other payments to be made by or on behalf of the Issuer under this Indenture or the Notes when the same shall be due and
payable; and 
 (3)    that it will pay any such sums so held in trust by it to the Trustee forthwith
upon the Trustee’s written request at any time during the continuance of the failure referred to in clause (2) above. 

  
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 The Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Issuer or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which
such sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such sums. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Issuer, in trust for the payment of the principal of, or
premium, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Issuer on Issuer Request, or (if then held by the Issuer) shall be discharged
from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Issuer as Trustee thereof, shall thereupon cease. 
 SECTION 1004.    Organizational Existence. Subject to
Article Eight, the Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its organizational existence and its organizational rights (charter and statutory) and franchises; provided,
however, that the Issuer shall not be required to preserve any such right or franchise if the Board of Directors of the Issuer shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Issuer
and its Subsidiaries, taken as a whole. 
 SECTION 1005.    [Reserved]. 

SECTION 1006.    [Reserved]. 

SECTION 1007.    [Reserved]. 

SECTION 1008.    Statement by Officer as to Default. 

(a)    The Issuer will deliver to the Trustee within 120 days after the end of each fiscal year, a brief certificate
(which need not comply with the requirements of the definition of “Officer’s Certificate” set forth herein) from the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer, or
the equivalent, of the Issuer on its behalf as to his or her knowledge of the Issuer’s and the Guarantors’ compliance with all covenants and agreements under this Indenture required to be complied with by the Issuer or such Guarantor. Such
certificate need not include a reference to any non-compliance that has been fully cured prior to the date as of which such certificate speaks. 

(b)    When any Default has occurred and is continuing under this Indenture, the Issuer shall deliver to the Trustee by
registered or certified mail or facsimile transmission an Officer’s Certificate specifying such event, notice or other action within ten Business Days of any Officer becoming aware of such occurrence. 

SECTION 1009.    Reports and Other Information.  

(a)    Notwithstanding that the Issuer may not be required to be or remain subject to the reporting requirements of
Section 13(a) or 15(d) of the Exchange Act, the Issuer will file with the SEC (unless such filing is not permitted under the Exchange Act or by the SEC), so long as any Notes are Outstanding, the annual reports, information, documents and other
reports that the Issuer is required to file with the SEC pursuant to such Section 13(a) or 15(d) or would be so required to file if the Issuer were so subject. 

  
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 (b)    Notwithstanding the foregoing, the Issuer will not be obligated
to file such reports with the SEC if the SEC does not permit such filing; provided, however, in such case, the Issuer shall provide such information to the Trustee and the Holders, prospective investors that certify they are qualified
institutional buyers, securities analysts and market makers (“Permitted Parties”) by the date the Issuer would be required to file such information pursuant to the preceding paragraph. The requirements set forth in this paragraph
and the preceding paragraph may be satisfied by delivering such information electronically to the Trustee and posting copies of such information on a website (which may be nonpublic and may be maintained by the Issuer or a third party) to which
Permitted Parties are given access and to which such information is posted. 
 (c)    For so long as the Issuer is
subject to the reporting requirements of Section 13(a) or 15(d) of the Exchange Act, the Issuer shall use its commercially reasonable efforts, consistent with its judgment as to what is prudent at the time, to participate in quarterly and
annual conference calls to discuss results of operations with Permitted Parties. The Issuer shall issue a press release which will provide the date and time of any such call and will direct Permitted Parties to contact the investor relations office
of the Issuer to obtain access to the conference call. 
 (d)    At any time when the Issuer is not subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, the Issuer shall use its reasonable efforts to participate in quarterly and annual private conference calls to discuss results of operations with Permitted Parties within 15
business days after the date on which quarterly and annual, as the case may be, reports are required to be furnished under this Indenture. The Issuer shall employ commercially reasonably means expected to reach Permitted Parties no fewer than three
business days prior to the date of the conference call required to be held to announce the time and date of such conference call and either including all information necessary to access the call or directing Permitted Parties to contact the
appropriate person at the Issuer to obtain such information. 
 (e)    At any time when the Issuer is not subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act, the Issuer will furnish to Holders and to prospective investors, upon the requests of such Holders, any information required to be delivered pursuant to Rule 144A(d)(4) under
the Securities Act so long as the Notes are “restricted securities” under Rule 144 under the Securities Act. 

(f)    Notwithstanding anything else contained in this Indenture, if the Issuer has filed with the SEC the reports
described in the preceding paragraphs (including via the EDGAR system or any successor electronic filing system), the Issuer shall be deemed to be in compliance with clauses (a), (b) and (e) above. 

(g)    Delivery of reports, information and documents to the Trustee is for informational purposes only and its receipt of
such reports shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants under this Indenture or the Notes (as to
which the Trustee is entitled to rely exclusively on Officer’s Certificates). The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, our compliance with the covenants or with respect to any reports or
other documents filed with the SEC or EDGAR or website under this Indenture, or participate in any conference calls. 

  
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 SECTION 1010.    Limitation on Liens. The Issuer shall not, and
shall not permit any of its Subsidiaries to, create, incur or assume any Lien (other than Permitted Liens) upon any Principal Property to secure Indebtedness of the Issuer, any Subsidiary of the Issuer or any other Person, without securing the Notes
equally and ratably with or, at the option of the Issuer, prior to, such other Indebtedness for so long as such other Indebtedness is so secured. Any Lien that is granted to secure the Notes under this Section 1010 shall be automatically
released and discharged at the same time as the release of the Lien that gave rise to the obligation to secure the Notes under this Section 1010. The foregoing restriction shall not apply to any Subsidiary that constitutes an Excluded
Subsidiary for so long as it constitutes an Excluded Subsidiary. 
 SECTION 1011.    Limitation on Subsidiary
Debt. 
 (a)    The Issuer will not permit any of its Subsidiaries (other than any Excluded Subsidiary for so long as
it constitutes an Excluded Subsidiary) to create, assume, incur, Guarantee or otherwise become liable for or suffer to exist any Indebtedness (any such Indebtedness of a Subsidiary of the Issuer, “Subsidiary Debt”), without,
within 60 days of creating, assuming, incurring, Guaranteeing or otherwise becoming liable for or suffering to exist such Subsidiary Debt, entering into a supplemental indenture pursuant to which it agrees to provide a Note Guarantee.
Notwithstanding anything else in this Indenture, the Notes or any Note Guarantee, a Subsidiary of the Issuer will not be required to provide a Note Guarantee pursuant to the foregoing restriction or otherwise as a result of such Subsidiary creating,
assuming, incurring, Guaranteeing or otherwise becoming liable for or suffering to exist any Subsidiary Debt described in clauses (1) through (12) below: 

(1)    Indebtedness of a Person existing at the time it is merged, combined, amalgamated or consolidated
with or into any such Subsidiary or at the time of a sale, lease or other disposition of the properties and assets of such Person (or a division thereof) as an entirety or substantially as an entirety to any such Subsidiary and is assumed by such
Subsidiary; provided that such Indebtedness was not incurred in contemplation thereof and is not Guaranteed by any other Subsidiary (other than any Guarantee existing at the time of such merger, combination, amalgamation, consolidation or
sale, lease or other disposition of properties and assets and that was not issued in contemplation thereof); 

(2)    Indebtedness of a Person existing at the time such Person becomes a Subsidiary of the Issuer;
provided that any such Indebtedness was not incurred in contemplation thereof; 

(3)    Indebtedness owed to the Issuer or any Subsidiary of the Issuer; 

(4)    Indebtedness (including Finance Lease Obligations), Disqualified Stock and preferred stock incurred
or issued by the Issuer or any Subsidiary of the Issuer, to finance the purchase, lease, construction, installation, development, repair, replacement or improvement of property (real or personal) or equipment that is used or useful in a similar
business to that of the Issuer or any Subsidiary, including through the direct purchase of assets or the Capital Stock of any Person owning such assets, and all Permitted Refinancing Indebtedness incurred to refinance any Indebtedness, Disqualified
Stock and preferred stock incurred pursuant to this clause (4); provided, however, that such Indebtedness exists at the date of such purchase, lease, construction, installation, repair, replacement or improvement or is created within 270 days
of the completion thereof; 
 (5)    Indebtedness or Guarantees in respect of netting services, business
credit card programs, overdraft protection and other treasury, depository and cash management services or incurred in connection with any automated clearing-house transfers of funds or other fund transfer or payment processing services; 

  
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 (6)    Indebtedness or Guarantees arising from the
honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business; provided that any such Indebtedness or Guarantee is extinguished within five
Business Days of its incurrence; 
 (7)    (i) reimbursement obligations incurred in the ordinary course
of business with respect to letters of credit, bankers’ acceptances, bank guarantees, warehouse receipts or similar facilities issued or entered into in the ordinary course of business, including letters of credit in respect of workers’
compensation claims, performance or surety bonds, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance, or other Indebtedness with respect to reimbursement or indemnification obligations
regarding workers’ compensation claims, performance or surety bonds, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance and (ii) Indebtedness of any Subsidiary supported by a letter
of credit issued pursuant to any Credit Facility, in a principal amount not in excess of the stated amount of such letter of credit; 

(8)    client advances and deposits received in the ordinary course of business; 

(9)    (a) Indebtedness or Guarantees incurred by Foreign Subsidiaries in an aggregate principal amount at
any time outstanding pursuant to this clause (9) not to exceed the greater of (i) $250.0 million and (ii) 4.50% of Consolidated Total Assets, determined as of the end of the Issuer’s most recently ended fiscal quarter for which a
balance sheet is available (or the equivalent thereof, measured at the time of each incurrence, in the applicable foreign currency) and (b) Indebtedness of any Finance Subsidiary and the extension, renewal, replacement or refinancing thereof;

 (10)    Indebtedness or Guarantees incurred (i) in respect of workers’ compensation claims,
payment obligations in connection with health or other types of social security benefits, unemployment or other insurance obligations, reclamation and statutory obligations, (ii) in connection with the financing of insurance premiums or
self-insurance obligations or take-or-pay obligations contained in supply agreements, and (iii) in respect of guarantees, warranty or contractual service
obligations, indemnity, bid, performance, warranty, release, appeal, surety and similar bonds, letters of credit and banker’s acceptances for operating purposes or to secure any Indebtedness or other obligations referred to in clauses
(1) through (8) or this clause (10), payment (other than for payment of Indebtedness) and completion Guarantees, in each case provided or incurred (including Guarantees thereof) in the ordinary course of business; 

(11)    Indebtedness outstanding on the Issue Date (other than the Subsidiaries’ Guarantees of the
Term Loan Facility, the Revolving Credit Facility and the 2026 Notes) and any Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to renew, refund, replace, defease or discharge, any Indebtedness existing on the
Issue Date or referred to, or incurred under, clauses (1), (2), (4) or (9)(a) above or (12) below; provided, however, that any Permitted Refinancing Indebtedness incurred pursuant to this clause (11) with respect to clauses (1),
(2), (4) or (9)(a) above or (12) below, as the case may be, shall, for purposes of determining amounts outstanding and the availability under the applicable such clause, be deemed to be outstanding under such clauses (1), (2), (4) or (9)(a)
above or (12) below, as applicable, and not this clause (11); or 

  
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 (12)    Indebtedness or Guarantees created or incurred
by any Subsidiary of the Issuer, if, as of the date such Indebtedness is incurred and after giving effect to such incurrence, Aggregate Net Availability Debt does not exceed the greatest of (a) $1,000.0 million, (b) 15% of the Consolidated Net
Tangible Assets of the Issuer measured as of the date any such Indebtedness is incurred (after giving pro forma effect to the application of the net proceeds therefrom and any transaction in connection with which such Indebtedness is being incurred)
and (c) 3.75 times EBITDA of the Issuer for the Applicable Measurement Period. 
 (b)    Any such Subsidiary also may,
without Guaranteeing the payment of the principal of, or premium, if any, or interest on, the Notes, extend, renew, replace, refinance or refund any Subsidiary Debt permitted pursuant to Section 1011(a); provided that any Subsidiary Debt
incurred to so extend, renew, replace, refinance or refund shall be incurred within 360 days of the maturity, retirement or other repayment or prepayment of the Subsidiary Debt being extended, renewed, replaced, refinanced or refunded and the
principal amount of the Subsidiary Debt incurred to so extend, renew, replace, refinance or refund shall not exceed the principal amount of Subsidiary Debt being extended, renewed, replaced, refinanced or refunded plus any premium or fee (including
tender premiums) or other reasonable amounts payable, plus the amount of fees, expenses and other costs incurred, in connection with any such extension, renewal, replacement, refinancing or refunding. 

(c)    For purposes of determining compliance with this Section 1011, (i) any other obligation of the obligor on such
Indebtedness (or of any other Person who could have incurred such Indebtedness under this Section 1011 under clauses (a)(1) through (a)(12) above) arising under any Guarantee, Lien or letter of credit, bankers’ acceptance or other similar
instrument or obligation supporting such Indebtedness shall be disregarded to the extent that such Guarantee, Lien or letter of credit, bankers’ acceptance or other similar instrument or obligation secures the principal amount of such
Indebtedness; (ii) in the event that an item of Indebtedness meets the criteria of more than one of the categories of Subsidiary Debt described in clauses (a)(1) through (a)(12) above, the Issuer will be permitted to classify such item of
Indebtedness on the date of its incurrence, and such item of Indebtedness will be treated as having been incurred pursuant to only one of such categories; and (iii) the accrual of interest, the accretion or amortization of original issue
discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, will not be deemed to be an incurrence of Indebtedness for purposes of this Section 1011. 

(d)    For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of
Indebtedness, where the Indebtedness incurred is denominated in a different currency, the amount of such Indebtedness will be the U.S. dollar equivalent determined on the date of the incurrence of such Indebtedness; provided, however, that if
any such Indebtedness denominated in a different currency is subject to a currency agreement with respect to U.S. dollars covering all principal, premium, if any, or interest payable on such Indebtedness, the amount of such Indebtedness expressed in
U.S. dollars will be as provided in such currency agreement. The principal amount of any refinancing Indebtedness incurred in the same currency as the Indebtedness being refinanced will be the U.S. dollar equivalent of the Indebtedness being
refinanced, except to the extent that (1) such U.S. dollar equivalent was determined based on a currency agreement, in which case the refinancing Indebtedness will be determined in accordance with the preceding sentence, and (2) the
principal amount of the refinancing Indebtedness exceeds the principal amount of the Indebtedness being refinanced, in which case the U.S. dollar equivalent of such excess will be determined on the date such refinancing Indebtedness is incurred. The
maximum amount of Indebtedness that any Subsidiary of the Issuer may incur pursuant to this Section 1011 shall not be deemed to be exceeded, with respect to any outstanding Indebtedness, solely as a result of fluctuations in exchange rates or
currency values. 
 (e)    The amount of any Indebtedness outstanding as of any date will be: 

(1)    the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue
discount; 

  
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 (2)    the principal amount of the Indebtedness, in the
case of any other Indebtedness; and 
 (3)    in respect of Indebtedness of another Person secured by a
Lien on the assets of the specified Person, the lesser of: 
 (A)    the fair market value of such assets
at the date of determination; and 
 (B)    the amount of the Indebtedness of the other Person. 

SECTION 1012.    Limitation on Sale and Leaseback Transactions. 

(a)    The Issuer will not, nor will it permit any of its Subsidiaries to, enter into any arrangement with any other Person
pursuant to which the Issuer or any of its Subsidiaries leases any Principal Property that has been or is to be sold or transferred by the Issuer or the Subsidiary to such other Person (a “Sale and Leaseback Transaction”). 

(b)    The following Sale and Leaseback Transactions are not subject to the limitation above or the restrictions set forth
in Section 1010: 
 (1)    temporary leases for a term, including renewals at the option of the
lessee, of not more than three years; 
 (2)    leases between only the Issuer and a Subsidiary of the
Issuer or only between Subsidiaries of the Issuer or leases with an Excluded Subsidiary for so long as it constitutes an Excluded Subsidiary; 

(3)    leases where the proceeds from the sale of the subject property are at least equal to the fair
market value (as determined in good faith by the Issuer) of the subject property and the Issuer applies an amount equal to the net proceeds of the sale to the retirement of long term Indebtedness or the purchase, construction, development, expansion
or improvement of other property or equipment used or useful in its business, within 270 days of the closing date of such sale; provided that in lieu of applying such amount to the retirement of long-term Indebtedness, the Issuer may deliver
Notes to the Trustee or other debt securities to the trustee of such long-term Indebtedness for cancellation; and 

(4)    leases of property executed by the time of, or within 270 days after the latest of, the acquisition,
the completion of construction, development, expansion or improvement, or the commencement of commercial operation, of the subject property. 

(c)    Notwithstanding the foregoing, the Issuer and its Subsidiaries may enter into any Sale and Leaseback Transaction
that would otherwise be subject to the restrictions set forth in the first paragraph above, if after giving effect thereto and at the date of determination, Aggregate Net Availability Debt does not exceed the greatest of (a) $1,000.0 million,
(b) 15% of the Consolidated Net Tangible Assets of the Issuer measured as of the closing date of such Sale and Leaseback Transaction and (c) 3.75 times EBITDA of the Issuer for the Applicable Measurement Period. 

  
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 SECTION 1013.    Change of Control Repurchase Event. 

(a)    If a Change of Control Repurchase Event occurs, unless the Issuer at such time has given notice of redemption
pursuant to Article Four or Eleven with respect to all the Outstanding Notes and all conditions to such redemption have been either satisfied or waived, each Holder will have the right to require the Issuer to repurchase all or any part (in a
principal amount equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes pursuant to an offer to repurchase on the terms described below (the “Change of Control Offer”). In the Change
of Control Offer, the Issuer will offer a price in cash (the “Change of Control Payment”) equal to 101.00% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to,
but not including the date of purchase, subject to the rights of Holders of record on the relevant Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to the Change of Control Payment Date. Within 30 days
following any Change of Control Repurchase Event, unless the Issuer at such time has given notice of redemption pursuant to Article Four or Eleven with respect to all of the Outstanding Notes, the Issuer will mail by first class mail or overnight
mail, with a copy to the Trustee sent in the same manner, to each Holder (such mailing to be sent to the address of such Holder appearing in the Note Register or otherwise delivered in accordance with the procedures of the Depositary) and to the
Trustee describing the transaction or transactions that constitute the Change of Control and offering to repurchase Notes on the date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such
notice is mailed or otherwise sent (the “Change of Control Payment Date”), and such notice shall include the following information: 

(1)    that, unless the Issuer defaults in the payment of the Change of Control Payment, all Notes accepted
for payment pursuant to the Change of Control Offer shall cease to accrue interest on the Change of Control Payment Date; 

(2)    if such notice is delivered prior to the occurrence of a Change of Control Repurchase Event, stating
that the Change of Control Offer is conditional on the occurrence of such Change of Control Repurchase Event and if applicable, shall state that, in the Issuer’s discretion, the Change of Control Payment Date may be delayed until such time as
the Change of Control Repurchase Event shall occur, or that such redemption may not occur and such notice may be rescinded in the event that the Issuer shall determine that such condition will not be satisfied by the Change of Control Payment Date,
or by the Change of Control Payment Date as so delayed; and 
 (3)    the other instructions, as
determined by the Issuer, consistent with this Section 1013, that a Holder must follow. 
 (b)    The Issuer shall
comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the
repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section 1013, the Issuer shall comply with the applicable
securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1013 by virtue of such compliance, and the foregoing procedures will be deemed modified as necessary to permit such compliance. 

(c)    On the Change of Control Payment Date, the Issuer shall, to the extent lawful, 

(1)    accept for payment all Notes or portions of Notes (in a principal amount equal to $2,000 or an
integral multiple of $1,000 in excess thereof) properly tendered and not withdrawn pursuant to the Change of Control Offer, 

  
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 (2)    deposit with the Paying Agent an amount equal to
the Change of Control Payment in respect of all Notes or portions of Notes properly tendered and not withdrawn and 

(3)    deliver, or cause to be delivered, to the Trustee the Notes properly accepted together with an
Officer’s Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Issuer. 

(d)    In the event that the Issuer makes a Change of Control Payment, the Paying Agent shall promptly mail or deliver to
each Holder of Notes properly tendered and not withdrawn the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in principal
amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note shall be in a principal amount equal to $2,000 or an integral multiple of $1,000 in excess thereof. The Issuer shall publicly announce the
results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 

(e)    The Issuer shall not be required to make a Change of Control Offer following a Change of Control Repurchase Event
if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Issuer and purchases all such
Notes properly tendered and not withdrawn under such Change of Control Offer, or (2) a notice of redemption has been given pursuant to Article Four or Article Eleven at any time prior to 30 days following any Change of Control Repurchase Event
with respect to all outstanding Notes, unless and until there is a Default in the payment of the applicable redemption price. Notwithstanding anything else herein, a Change of Control Offer may be made in advance of a Change of Control Repurchase
Event, conditioned upon the consummation of such Change of Control, if a definitive agreement is in place for the Change of Control at the time of the making of such Change of Control Offer. 

SECTION 1014.    Escrow Fundings. Notwithstanding anything else in this Indenture or the Notes, nothing contained
in this Indenture shall restrict or prohibit (a) the formation of a Future Escrow Subsidiary, (b) the holding of any Future Escrow Funds in any Future Escrow Account and the granting or existence of any Liens on any Future Escrow Account
or the Future Escrow Funds or pursuant to any Future Escrow Account Document, in each case, in favor of the applicable Future Escrow Agent (or its designee), (c) any transactions by and among the Issuer or one or more of its Subsidiaries, on the one
hand, and any Future Escrow Subsidiary, on the other hand, in connection with transactions contemplated by any Future Escrow Debt Documents and (d) any Investment in a Future Escrow Subsidiary (it being understood that for so long as the
applicable Future Escrow Funds remain in the Future Escrow Account and the corresponding Future Escrow Debt is solely the obligation of the Future Escrow Subsidiary, any such Future Escrow Debt shall not constitute Indebtedness and shall be
disregarded when determining the amount of Aggregate Net Availability Debt). 
 ARTICLE ELEVEN 

REDEMPTION OF NOTES 

SECTION 1101.    Right of Redemption. At any time prior to April 15, 2023, the Issuer may at its option on any
one or more occasions redeem all or a part of the Notes, upon notice as set forth in Section 1105, at a Redemption Price equal to 100.00% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid
interest, if any, to, but not including, the Redemption Date, subject to the rights of Holders of record of Notes on the relevant Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to such Redemption Date).
In connection with any such redemption, the Issuer will notify the Trustee of the Applicable Premium promptly after the calculation has been determined. 

  
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 On and after April 15, 2023, the Issuer may at its option redeem the Notes, in whole or
in part, on any one or more occasions, upon notice as set forth in Section 1105, at the Redemption Prices (expressed as percentages of principal amount of Notes to be redeemed) set forth below, plus accrued and unpaid interest thereon, if any,
to, but not including, the applicable Redemption Date, if such Redemption Date for the Notes being redeemed occurs during the twelve-month period beginning on April 15 of each of the years indicated below, subject to the right of Holders of
record of Notes on the relevant Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to such Redemption Date: 
  

					
	 Year
	  	Percentage	 
	 2023
	  	 	102.188	% 
	 2024
	  	 	101.094	% 
	 2025 and thereafter
	  	 	100.000	% 

 In addition, at any time prior to April 15, 2023, the Issuer may, at its option, upon notice as set forth
in Section 1105, on one or more occasions redeem up to 40.00% of the aggregate principal amount of Notes issued under this Indenture (calculated after giving effect to any issuance of Additional Notes) at a Redemption Price equal to 104.375% of
the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest thereon, if any, to, but not including, the applicable Redemption Date, subject to the right of Holders of record of Notes on the relevant Regular Record Date to
receive interest due on an Interest Payment Date that is on or prior to such Redemption Date, with an amount of cash equal to the net cash proceeds of an Equity Offering by the Issuer; provided, however, that at least 60.00% of the aggregate
principal amount of Notes issued under this Indenture (calculated after giving effect to any Additional Notes issued under this Indenture after the Issue Date and excluding Notes held by the Issuer and its Subsidiaries) remains outstanding
immediately after the occurrence of each such redemption; provided further, however, that each such redemption occurs within 120 days of the date of closing of such Equity Offering. 

SECTION 1102.    [Reserved]. 

SECTION 1103.    Election to Redeem; Notice to Trustee. If the Issuer elects to redeem some or all of the Notes
pursuant to Section 1101, it shall furnish to the Trustee, at or prior to the date notice of such redemption is required to be given to Holders, an Officer’s Certificate stating (i) the clause of Section 1101 of this Indenture
pursuant to which the redemption shall occur, (ii) the Redemption Date, (iii) the principal amount of Notes to be redeemed, (iv) the Redemption Price (or manner of calculation if not then known), (v) that such election has been duly
authorized by all requisite corporate action on the part of the Issuer, and (vi) that such redemption complies, or will comply, with any applicable covenants or conditions precedent set forth in this Indenture. Notice of redemption of Notes to
be redeemed at the election of the Issuer shall be given to the Trustee by the Issuer or, at the Issuer’s request and provision of the notice to be given containing such notice information five Business Days (unless a shorter notice shall be
agreed to by the Trustee) prior to the date notice is to be given to the Holders, by the Trustee in the name and at the expense of the Issuer. Any redemption may be cancelled by the Issuer upon written notice to the Trustee at any time prior to
notice of redemption being sent to any Holder and thereafter shall be null and void. If the Redemption Price is not known at the time such notice is to be given, the actual Redemption Price, calculated as described in the terms of the Notes, will be
set forth in an Officer’s Certificate delivered to the Trustee no later than two Business Days prior to the Redemption Date. 

  
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 SECTION 1104.    Selection by Trustee of Notes to Be Redeemed. If
less than all of the Notes are to be redeemed at any time, the Trustee will select the Notes for redemption on a pro rata basis (or, in the case of Notes issued in global form, subject to the applicable procedures of the Depositary) unless otherwise
required by law or applicable stock exchange or depositary requirements. 
 No Notes with a principal amount of $2,000 or less can be
redeemed in part. Notices of redemption shall be delivered by first class mail (or otherwise in accordance with the procedures of the Depositary), at least 10 but not more than 60 days before the Redemption Date to each Holder of Notes to be
redeemed at such Holder’s registered address, except that redemption notices may be mailed or sent more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge
of this Indenture. If any Note is to redeemed in part only, any notice of redemption that relates to such Note shall state the portion of the principal amount thereof that has been or is to be redeemed. 

If any Notes are to be redeemed in part only, the Issuer shall issue a new Note (or cause to be transferred by book entry) in principal amount
equal to the unredeemed portion of the original Note in the name of the Holder thereof upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption, subject to the satisfaction of any applicable
conditions. On and after the Redemption Date, unless the Issuer defaults in payment of the Redemption Price, interest shall cease to accrue on Notes or portions of Notes called for redemption (unless the Issuer defaults in the payment of the
applicable redemption payment). 
 SECTION 1105.    Notice of Redemption. Notice of redemption shall be given in
the manner provided for in Section 107 not less than 10 nor more than 60 days prior to the Redemption Date, to each Holder to be redeemed. 

All notices of redemption shall identify the Notes and state: 

(1)    the Redemption Date, 

(2)    the Redemption Price (or manner of calculation if not then known) and the amount of accrued interest
to the Redemption Date payable as provided in Section 1107, if any, 
 (3)    if less than all
Outstanding Notes are to be redeemed, the identification (and, in the case of a partial redemption, the principal amounts) of the particular Notes to be redeemed, 

(4)    in case any Note is to be redeemed in part only, the notice which relates to such Note shall state
that on and after the Redemption Date, upon surrender of such Note, the Holder will receive, without charge, a new Note or Notes of authorized denominations for the principal amount thereof remaining unredeemed, 

(5)    that on the Redemption Date the Redemption Price (and accrued interest, if any, to the Redemption
Date payable as provided in Section 1107) will become due and payable upon each such Note, or the portion thereof, to be redeemed, and that, if the redemption occurs, interest thereon will cease to accrue on and after said date, 

(6)    any condition precedent to the redemption; 

  
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 (7)    the place or places where such Notes are to be
surrendered for payment of the Redemption Price and accrued interest, if any, 
 (8)    the name and
address of the Paying Agent, 
 (9)    that Notes called for redemption must be surrendered to the Paying
Agent to collect the Redemption Price, 
 (10)    the CUSIP, ISIN or “Common Code” number and
that no representation is made as to the accuracy or correctness of the CUSIP, ISIN or “Common Code” number, if any, listed in such notice or printed on the Notes, and 

(11)    the clause of Section 1101 and/or the paragraph of the Notes pursuant to which the Notes are
to be redeemed. 
 Any redemption may, at the Issuer’s discretion, be subject to one or more conditions precedent, which shall be set
forth in the related notice of redemption, including, but not limited to, completion of an Equity Offering, other offering or other transaction or event. In addition, if such redemption is subject to satisfaction of one or more conditions precedent,
such notice shall describe each such condition, and if applicable, shall state that, in the Issuer’s discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not
occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date, or by the Redemption Date as so delayed. 

If any such condition precedent has not been satisfied, the Issuer shall provide written notice to the Trustee prior to the close of business
two Business Days prior to the Redemption Date (or such shorter period as may be acceptable to the Trustee). Upon receipt of such notice, the notice of redemption shall be rescinded or delayed, and the redemption of the Notes shall be rescinded or
delayed as provided in such notice. Upon receipt, the Trustee shall provide such notice to each Holder in the same manner in which the notice of redemption was given. 

The Issuer or its Affiliates may acquire Notes by means other than a redemption, whether by tender offer, open market purchases, negotiated
transactions or otherwise, so long as such acquisition does not otherwise violate the terms of this Indenture. 
 SECTION
1106.    Deposit of Redemption Price. No later than 12:00 noon (New York City time) on any Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the Issuer is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and accrued interest on, all the Notes which are to be redeemed on that date. 

SECTION 1107.    Notes Payable on Redemption Date. Notice of redemption having been given to the Holders in
accordance with Section 1105, the Notes so to be redeemed shall, on the Redemption Date, become due and payable, unless such redemption is conditioned on the happening of a future event, at the Redemption Price therein specified (together with
accrued interest to the Redemption Date), and from and after such date (unless the Issuer shall default in the payment of the Redemption Price and accrued interest) such Notes shall cease to bear interest. Upon surrender of any such Note for
redemption in accordance with said notice, the Redemption Price for such Note , together with accrued interest to the Redemption Date, shall be paid by the Issuer and such Notes shall be canceled by the Trustee; provided, however, that
installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Notes, or one or more Predecessor Notes, registered as such at the close of business on the relevant Regular Record Dates
according to their terms and the provisions of Section 307. 

  
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 If the Redemption Price for any Note called for redemption, together with accrued interest
to the Redemption Date, shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Notes, unless such redemption is conditioned
on the happening of a future event. 
 SECTION 1108.    Notes Redeemed in Part. Any Note which is to be redeemed
only in part (pursuant to the provisions of this Article) shall be surrendered at an office or agency of the Issuer maintained for such purpose pursuant to Section 1002 (with, if the Issuer or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing), and the Issuer shall execute, and the Trustee shall authenticate and
deliver (or transfer by book entry) to the Holder of such Note without service charge, a new Note or Notes, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion
of the principal of the Note so surrendered. 
 ARTICLE TWELVE 

GUARANTEES 
 SECTION
1201.    Note Guarantees. Subject to this Article Twelve, each Guarantor hereby jointly and severally, fully and unconditionally Guarantees, on a senior basis, the Notes and Obligations of the Issuer hereunder and
thereunder, and Guarantees to each Holder of a Note authenticated and delivered by the Trustee, and to the Trustee for itself and on behalf of such Holder, that: (1) the principal of, and interest and premium, if any, on, the Notes will be paid
in full when due, whether at Stated Maturity, by acceleration or otherwise (including the amount that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Law), together with interest on the
overdue principal, if any, and interest on any overdue interest, to the extent lawful, and all other obligations of the Issuer to the Holders or the Trustee hereunder or thereunder will be paid in full or performed, all in accordance with the terms
hereof and thereof; and (2) in case of any extension of time of payment or renewal of any Notes or of any such other obligations, the same shall be paid in full when due or performed in accordance with the terms of the extension or renewal,
whether at Stated Maturity, by acceleration or otherwise, subject, however, in the case of clauses (1) and (2) above, to the limitation set forth in Section 1204 hereof. 

Each Guarantor hereby agrees (to the extent permitted by applicable law) that its obligations hereunder shall be unconditional, irrespective
of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, any release of any other Guarantor,
the recovery of any judgment against the Issuer, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. 

Each Guarantor hereby waives (to the extent permitted by law) the benefits of diligence, presentment, demand for payment, filing of claims
with a court in the event of insolvency or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer or any other Person, protest, notice and all demands whatsoever and covenants that the Note Guarantee of such Guarantor
shall not be discharged as to any Note except by complete performance of the obligations contained in such Note, this Indenture and such Note Guarantee. Each Guarantor acknowledges that the Note Guarantee is a Guarantee of payment, performance and
compliance when due and not of collection. Each of the 

  
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Guarantors hereby agrees that, in the event of a default in payment of principal, interest or premium, if any, with respect to such Note, whether at its Stated Maturity, by acceleration, purchase
or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of such Note, subject to the terms and conditions set forth in this Indenture, directly against each of the Guarantors to enforce such Guarantor’s
Note Guarantee without first proceeding against the Issuer or any other Guarantor. Each Guarantor agrees that if, after the occurrence and during the continuance of an Event of Default, the Trustee or any of the Holders are prevented by applicable
law from exercising their respective rights to accelerate the Maturity of the Notes, to collect interest on the Notes or to enforce or exercise any other right or remedy with respect to the Notes, such Guarantor shall pay to the Trustee for the
account of the Holder the amount that would otherwise have been due and payable had such rights and remedies been permitted to be exercised by the Trustee or any of the Holders. 

If any Holder or the Trustee is required by any court or otherwise to return to the Issuer or any Guarantor, or any custodian, trustee,
liquidator or other similar official acting in relation to either the Issuer or any Guarantor, any amount paid by any of them to the Trustee or such Holder, the Note Guarantee of each of the Guarantors, to the extent theretofore discharged, shall be
reinstated in full force and effect. Each Guarantor further agrees that, as between each Guarantor, on the one hand, and the Holders and the Trustee on the other hand, (1) subject to this Article Twelve, the Maturity of the obligations
Guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of the Note Guarantee of such Guarantor notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations
Guaranteed hereby, and (2) in the event of any acceleration of such obligation as provided in Article Five hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by each Guarantor for the purpose of the
Note Guarantee of such Guarantor. 
 Each Note Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Issuer for liquidation, reorganization, should the Issuer become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the
Issuer’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in
amount, or must otherwise be restored or returned by any obligee on the Notes, whether as a “voidable preference”, “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the event that
any payment or any part thereof, is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned.

 SECTION 1202.    Severability. In case any provision of any Note Guarantee shall be invalid, illegal or
unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby to the extent permitted by applicable law. 

SECTION 1203.    Additional Guarantors. The Issuer shall cause any Subsidiary required to Guarantee payment of the
Notes pursuant to the terms and provisions of Section 1011 to execute and deliver to the Trustee any amendment pursuant to Section 901(7) or supplement to this Indenture (in the case of such supplement, substantially in the form of Exhibit
A) in accordance with the provisions of Article Nine of this Indenture pursuant to which such Subsidiary shall Guarantee all of the obligations on the Notes, whether for principal, premium, if any, interest (including interest accruing after the
filing of, or which would have accrued but for the filing of, a petition by or against the Issuer under any Bankruptcy Law, whether or not such interest is allowed as a claim after such filing in any proceeding under such law) and other amounts due
in connection therewith (including any fees, expenses and indemnities), on an unsecured senior basis. Upon the execution of any such amendment or 

  
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supplement, the obligations of the Guarantors and any such Subsidiary under their respective Note Guarantees shall become joint and several and each reference to the “Guarantor” in this
Indenture shall, subject to Section 1208, be deemed to refer to all Guarantors, including such Subsidiary. Such Note Guarantee shall be released in accordance with Section 802 and Section 1208. 

SECTION 1204.    Limitation of Guarantors’ Liability. Each Guarantor and by its acceptance
hereof each Holder confirms that it is the intention of all such parties that the Guarantee by each such Guarantor pursuant to its Note Guarantee not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions of its local law relating to fraudulent transfer or conveyance. To effectuate the foregoing intention, the Holders and each such
Guarantor hereby irrevocably agree that the obligations of such Guarantor under its Note Guarantee shall be limited to the maximum amount that will not, after giving effect to all other contingent and fixed liabilities of such Guarantor and after
giving effect to any collections from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under its Note Guarantee or pursuant to this Section 1204, result in the obligations of such
Guarantor under its Note Guarantee constituting such fraudulent transfer or conveyance. 
 SECTION
1205.    Contribution. In order to provide for just and equitable contribution among the Guarantors, the Guarantors agree, inter se, that in the event any payment or distribution is made by any Guarantor (a
“Funding Guarantor”) under a Note Guarantee, such Funding Guarantor shall be entitled to a contribution from all other Guarantors in a pro rata amount based on the Adjusted Net Assets (as defined below) of each
Guarantor (including the Funding Guarantor) for all payments, damages and expenses incurred by that Funding Guarantor in discharging the Issuer’s obligations with respect to the Notes or any other Guarantor’s obligations with respect to
the Note Guarantee of such Guarantor. “Adjusted Net Assets” of such Guarantor at any date shall mean the lesser of (1) the amount by which the fair value of the property of such Guarantor exceeds the total amount
of liabilities, including contingent liabilities (after giving effect to all other fixed and contingent liabilities incurred or assumed on such date), but excluding liabilities under the Note Guarantee of such Guarantor at such date and (2) the
amount by which the present fair salable value of the assets of such Guarantor at such date exceeds the amount that will be required to pay the probable liability of such Guarantor on its debts (after giving effect to all other fixed and contingent
liabilities incurred or assumed on such date), excluding debt in respect of the Note Guarantee of such Guarantor, as they become absolute and matured. 

SECTION 1206.    Subrogation. Each Guarantor shall be subrogated to all rights of Holders against the Issuer in
respect of any amounts paid by any Guarantor pursuant to the provisions of Section 1201; provided, however, that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any
payments arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Issuer under this Indenture or the Notes shall have been paid in full. 

SECTION 1207.    Reinstatement. Each Guarantor hereby agrees (and each Person who becomes a Guarantor shall agree)
that the Note Guarantee provided for in Section 1201 shall continue to be effective or be reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligations or interest thereon is rescinded or must otherwise be
restored by a Holder to the Issuer upon the bankruptcy or insolvency of the Issuer or any Guarantor. 

  
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 SECTION 1208.    Release of a Guarantor. Any Note Guarantee by a
Guarantor of the Notes shall be automatically and unconditionally released and discharged upon: 

(1)    in connection with any sale or other disposition of all or substantially all of the assets of such
Guarantor, by way of merger, consolidation or otherwise, to a Person that is not (either before or after giving effect to such transaction) the Issuer or a Subsidiary of the Issuer; 

(2)    in connection with any sale or other disposition of Capital Stock of such Guarantor to a Person that
is not (either before or after giving effect to such transaction) the Issuer or a Subsidiary of the Issuer, if the Guarantor ceases to be a Subsidiary of the Issuer as a result of the sale or other disposition; 

(3)    upon the merger or consolidation of such Guarantor with or into the Issuer or another Guarantor that
is the surviving Person in such merger or consolidation, or upon the liquidation of such Guarantor following the transfer of all of its assets to the Issuer or another Guarantor; 

(4)    the exercise of the Legal Defeasance of the Notes under Section 1302 hereof, or the Covenant
Defeasance of the Notes under Section 1303 hereof, or if the Issuer’s obligations under this Indenture are discharged in accordance with Section 401 of this Indenture; 

(5)    in the case of a Guarantor that becomes an Excluded Subsidiary, upon delivery to the Trustee of an
Officer’s Certificate certifying that such Guarantor has become an Excluded Subsidiary; or 

(6)    upon the release or discharge of the Guarantee by such Subsidiary of such Indebtedness of the Issuer
or any Subsidiary, or the repayment of all the Indebtedness, in each case, that resulted in an obligation to provide a Note Guarantee (including, the release, discharge or repayment of all outstanding amounts under the Term Loan Facility, the
Revolving Credit Facility and the 2026 Notes with respect to any Guarantor that provided a Note Guarantee as of the Issue Date). 
 SECTION
1209.    Benefits Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and from its Guarantee and waivers pursuant to
its Note Guarantees under this Article Twelve. 
 SECTION 1210.    Effectiveness of Note Guarantees. 

This Indenture and the Note Guarantees shall be effective upon its execution and delivery by the parties hereto. Each Guarantor hereby agrees
that its Note Guarantee pursuant to this Article Twelve shall be effective notwithstanding the absence of an endorsement of any notation of such Note Guarantee on the Notes. 

  
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 ARTICLE THIRTEEN 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 1301.    Issuer’s Option to Effect Legal Defeasance or Covenant Defeasance. The Issuer
may, at its option, at any time, with respect to the Notes, elect to have either Section 1302 or Section 1303 be applied to all Outstanding Notes upon compliance with the conditions set forth below in this Article Thirteen. 

SECTION 1302.    Legal Defeasance and Discharge. Upon the Issuer’s exercise under Section 1301 of the
option applicable to this Section 1302, the Issuer and each of the Guarantors shall be deemed to have been discharged from their respective obligations with respect to all Outstanding Notes, the Note Guarantees and this Indenture on the date
the conditions set forth in Section 1304 are satisfied (hereinafter, “Legal Defeasance”). For this purpose, such Legal Defeasance means that the Issuer and each of the Guarantors shall be deemed to have paid and discharged the
entire indebtedness represented by the Outstanding Notes (including the Note Guarantees), which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1305 and the other Sections of this Indenture referred to
in (1) and (2) below, and to have satisfied all its other obligations under such Notes, the Note Guarantees and this Indenture (and the Trustee, at the expense of the Issuer, shall execute proper instruments acknowledging the same), except for
the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Outstanding Notes to receive payments in respect of the principal of, and interest or premium, if any, on, such Notes when such
payments are due, from the trust described in Section 1305, (2) the Issuer’s obligations with respect to such Notes under Sections 303, 304, 305, 306, 1002 and 1003 and (3) the rights, powers, trusts, duties and immunities of the
Trustee hereunder, and the obligations of each of the Guarantors and the Issuer in connection therewith. Subject to compliance with this Section 1302, the Issuer may exercise its option under this Section 1302 notwithstanding the prior
exercise of its option under Section 1303 with respect to the Notes. 
 SECTION 1303.    Covenant
Defeasance. Upon the Issuer’s exercise under Section 1301 of the option applicable to this Section 1303, each of the Issuer and the Guarantors shall be released from its respective obligations under Sections 801 and 1004 and
Sections 1009 through and including 1013 with respect to the Outstanding Notes on and after the date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not to
be “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “Outstanding” for all
other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to the Outstanding Notes, the Issuer or any Guarantor, as applicable, may omit to comply with and shall have no liability in respect of any term, condition
or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document
and such omission to comply shall not constitute a Default or Event of Default under Section 501, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. 

SECTION 1304.    Conditions to Legal Defeasance or Covenant Defeasance. The following shall be the conditions to
application of either Section 1302 or Section 1303 to the Outstanding Notes: 
 (1)    the
Issuer shall (A) irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 608 who shall agree to comply with the provisions of this Article Thirteen applicable to it)
as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to the benefit of the Holders of such Notes; cash in U.S. dollars,
non-callable Government Securities, or a combination thereof, in amounts as will be sufficient, to pay the principal of, and 

  
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interest or premium, if any, on, the Outstanding Notes on the stated date for payment thereof or on the applicable Redemption Date, as the case may be, (B) solely in the case in which
Government Securities are being deposited with the Trustee pursuant to the foregoing clause (A), deliver to the Trustee an opinion of an investment bank, appraisal firm or firm of independent public accountants, in each case, that is nationally
recognized in the United States, stating that such amounts deposited are sufficient to pay the principal of, and interest or premium, if any, on, the Outstanding Notes on the stated date for payment thereof or on the applicable Redemption Date, as
the case may be, and (C) specify whether the Notes are being defeased to such stated date for payment or to a particular Redemption Date; provided, however, that the Trustee shall have been irrevocably instructed to apply such cash or
the proceeds of such Government Securities or combination thereof to said payments with respect to the Notes. Before such a deposit, the Issuer may give to the Trustee, in accordance with Section 1103 hereof, a notice of its election to redeem
all of the Outstanding Notes at a future date in accordance with Article Eleven hereof, which notice shall be irrevocable. Such irrevocable redemption notice, if given, shall be given effect in applying the foregoing; 

(2)    in the case of Legal Defeasance, the Issuer shall have delivered to the Trustee an Opinion of
Counsel to the Trustee confirming that, 
 (A)    the Issuer has received from, or there has been
published by, the United States Internal Revenue Service a ruling, or 
 (B)    since the Issue Date,
there has been a change in the applicable U.S. Federal income tax law, 
 in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, subject to customary assumptions and exclusions, the Holders of the Outstanding Notes will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. Federal
income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3)    in the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee an Opinion of
Counsel to the Trustee confirming that, the Holders of the Outstanding Notes will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. Federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(4)    no Default shall have occurred and be continuing on the date of such deposit (other than a Default
resulting from the borrowing of funds to be applied to such deposit (and any similar and concurrent deposit relating to other Indebtedness), and the granting of Liens to secure such borrowings); 

(5)    such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or
constitute a default under any material agreement or instrument (other than this Indenture and the agreements governing any other Indebtedness being defeased, discharged or replaced) to which, the Issuer or any of its Subsidiaries is a party or by
which any of them is bound; 
 (6)    the Issuer shall have delivered to the Trustee an Officer’s
Certificate stating that the deposit was not made by the Issuer with the intent of preferring the Holders over the other creditors of the Issuer or with the intent of defeating, hindering, delaying or defrauding any creditors of the Issuer or
others; and 

  
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 (7)    the Issuer shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with. 

SECTION 1305.    Deposited Money and Government Securities To Be Held in Trust Other Miscellaneous Provisions.
Subject to the provisions of the last paragraph of Section 1003, all cash and Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 1305,
the “Qualifying Trustee”) pursuant to Section 1304 in respect of the Outstanding Notes shall be held in trust and applied by the Qualifying Trustee, in accordance with the provisions of such Notes and this Indenture, to
the payment, either directly or through any Paying Agent (including the Issuer acting as its own Paying Agent) as the Qualifying Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal,
interest and premium, if any, but such money or Government Securities need not be segregated from other funds except to the extent required by law. 

The Issuer shall pay and indemnify the Qualifying Trustee against any tax, fee or other charge imposed on or assessed against the Government
Securities deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Notes. 

Anything in this Article Thirteen to the contrary notwithstanding, the Qualifying Trustee shall deliver or pay to the Issuer from time to time
upon Issuer Request any money or Government Securities held by it as provided in Section 1304 which are in excess of the amount thereof which would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant
Defeasance, as applicable, in accordance with this Article; provided that, solely in a case involving Government Securities, such determination shall be accompanied by an opinion of an investment bank, appraisal firm or firm of independent
public accountants, in each case, that is nationally recognized in the United States, expressed in a written certification thereof delivered to the Qualifying Trustee to the effect that such amounts are in excess of the amount thereof which would
then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance, as applicable, in accordance with this Article. 

SECTION 1306.    Reinstatement. If the Trustee or any Paying Agent is unable to apply any money or Government
Securities in accordance with Section 1305 by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuer’s and each Guarantor’s obligations
under this Indenture and the Outstanding Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 1302 or 1303, as the case may be, until such time as the Trustee or Paying Agent is permitted to apply all such
money or Government Securities in accordance with Section 1305; provided, however, that, if the Issuer makes any payment of principal of, or interest or premium, if any, on, any Note following the reinstatement of its obligations,
the Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the Trustee or Paying Agent. 

[Signature Pages Follow] 

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

					
	ENTEGRIS, INC.
		
	By:	 	 /s/ Gregory B. Graves

		 	Name:	 	Gregory B. Graves
		 	Title:	 	Executive Vice President, Chief Financial
		 		 	Officer and Treasurer
	
	GUARANTORS:
	
	ENTEGRIS INTERNATIONAL HOLDINGS, INC.
	ENTEGRIS INTERNATIONAL HOLDINGS IV LLC
	ENTEGRIS INTERNATIONAL HOLDINGS V LLC
	ENTEGRIS PROFESSIONAL SOLUTIONS, INC.
	ENTEGRIS SPECIALTY MATERIALS, LLC
	ENTEGRIS TAIWAN HOLDINGS, INC.
	ENTEGRIS GP, INC.
	ISOSCIENCES, LLC
	MPD CHEMICALS, LLC
	NORQUAY, LLC
	SILAR, LLC
		
	By:	 	 /s/ Gregory B. Graves

		 	Name:	 	Gregory B. Graves
		 	Title:	 	Executive Vice President, Chief
		 		 	Financial Officer and Treasurer
	
	POCO GRAPHITE, INC.
		
	By:	 	 /s/ Gregory B. Graves

		 	Name:	 	Gregory B. Graves
		 	Title:	 	Vice President and Treasurer
	
	ENTEGRIS PACIFIC LTD.
		
	By:	 	 /s/ Gregory B. Graves

		 	Name:	 	Gregory B. Graves
		 	Title:	 	Treasurer

  
 [Signature Page to
Indenture] 

 The undersigned agrees to act as Trustee, Paying Agent, Note Registrar and Notes Custodian:

  

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

		 	Name:	 	Gregory S. Clarke
		 	Title:	 	Vice President

  
 [Signature Page to
Indenture] 

 APPENDIX I - Rule 144A / Regulation S 

PROVISIONS RELATING TO THE NOTES 
  

	 	1.	 Definitions 

  

	 	1.1.	 Definitions. 

For the purposes of this Appendix the following terms shall have the meanings indicated below: 

“Definitive Note” means a certificated Note that is not a Global Note bearing, if required, the appropriate restricted notes
legend set forth in Section 2.3(d). 
 “Depositary” means The Depository Trust Company, its nominees and their
respective successors. 
 “Distribution Compliance Period”, with respect to any Notes, means the period of 40 consecutive
days beginning on and including the latest of the Issue Date, the original issue date of the issuance of any Additional Notes and the date on which any such Notes (or any predecessor of such Notes) were first offered to persons other than
distributors (as defined in rule 902 of Regulation S) in reliance on Regulation S. 
 “Initial Purchasers” means
(1) with respect to the Notes issued on the Issue Date, Morgan Stanley & Co. LLC, BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, PNC Capital Markets LLC, SunTrust Robinson
Humphrey, Inc. and Wells Fargo Securities, LLC, and (2) with respect to each issuance of Additional Notes, the Persons purchasing such Additional Notes under the related Purchase Agreement. 

“Notes” means (1) $400,000,000 aggregate principal amount of 4.375% Senior Unsecured Notes Due 2028 issued on the Issue Date
and (2) Additional Notes, if any. 
 “Notes Custodian” means the custodian with respect to a Global Note (as appointed
by the Depositary), or any successor Person thereto and shall initially be the Trustee. 
 “Purchase Agreement” means
(1) with respect to the Notes issued on the Issue Date, the Purchase Agreement dated April 23, 2020, among the Issuer, the Guarantors party thereto and the Representatives on behalf of the Initial Purchasers, and (2) with respect to
each issuance of Additional Notes, the purchase agreement or underwriting agreement among the Issuer, the Guarantors and the Persons purchasing such Additional Notes. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Regulation S Global Note” means a Global Note in the form of Exhibit 1 hereto bearing the applicable restricted notes legend
set forth in Exhibit 1 hereto and deposited with or on behalf of and registered in the name of the Depositary, issued in a denomination equal to the outstanding principal amount of the Regulation S Global Notes; provided, however, that any
such Regulation S Global Note shall be deemed to be a “temporary global security” for purposes of Rule 904 under Regulation S until the expiration of the Distribution Compliance Period. 

“Representative” means Morgan Stanley & Co. LLC, as representative of the Initial Purchasers. 

 “Rule 144A Notes” means all Notes offered and sold to QIBs in reliance on
Rule 144A. “Securities Act” means the Securities Act of 1933. 
 “Transfer Restricted Notes” means Notes that
bear or are required to bear the legend relating to restrictions on transfer relating to the Securities Act set forth in Section 2.3(d) hereto. 
  

	 	1.2.	 Other Definitions. 

 

			
	 Term
	  	Defined in
Section:
	 “Agent Members”
	  	2.1(b)
	 “Automatic Exchange”
	  	2.3(c)
	 “Automatic Exchange Date”
	  	2.3(c)
	 “Automatic Exchange Notice”
	  	2.3(c)
	 “Automatic Exchange Notice Date”
	  	2.3(c)
	 “Global Notes”
	  	2.1(a)
	 “Regulation S”
	  	2.1(a)
	 “Rule 144A”
	  	2.1(a)
	 “Rule 144A Global Note”
	  	2.1(a)

  

	 	2.	 The Notes. 

2.1.    (a) Form and Dating. The Notes will be offered and sold by the Issuer pursuant to a Purchase Agreement. The
Notes will be resold initially only to (i) QIBs in reliance on Rule 144A under the Securities Act (“Rule 144A”) and (ii) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S under the
Securities Act (“Regulation S”). Notes may thereafter be transferred to, among others, QIBs and purchasers in reliance on Regulation S, subject to the restrictions on transfer set forth herein. Notes initially resold pursuant to
Rule 144A shall be issued initially in the form of one or more permanent global notes in fully registered form (collectively, the “Rule 144A Global Note”); and Notes initially resold pursuant to Regulation S shall be issued
initially in the form of one or more Regulation S Global Notes, in each case without interest coupons and with the global notes legend and the applicable restricted notes legend set forth in Exhibit 1 hereto, which shall be deposited on behalf of
the purchasers of the Notes represented thereby with the Notes Custodian and registered in the name of the Depositary, duly executed by the Issuer and authenticated by the Trustee as provided in this Indenture. Beneficial ownership interests
in the Regulation S Global Note will not be exchangeable for interests in a Rule 144A Global Note, or any other Note prior to the expiration of the Distribution Compliance Period and then, after the expiration of the Distribution Compliance Period,
may be exchanged for interests in a Rule 144A Global Note, a Regulation S Global Note or a Definitive Note only (i) upon certification in form reasonably satisfactory to the Trustee that beneficial ownership interests in such Regulation S
Global Note are owned either by non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require registration under the Securities Act, and (ii) in the case of an
exchange for a Definitive Note, in compliance with the requirements of Section 2.4(a) hereof. 
 Beneficial interests in a Rule 144A
Global Note may be transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Note, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first delivers to the
Trustee a written certificate (in the form provided in this Indenture) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable). 

The Rule 144A Global Note and the Regulation S Global Note are collectively referred to herein as “Global Notes”. The
aggregate principal amount of the Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary as hereinafter provided. 

  
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 (b)    Book-Entry Provisions. This Section 2.1(b) shall
apply only to a Global Note deposited with or on behalf of the Depositary. 
 The Issuer shall execute and the Trustee shall, in accordance
with this Section 2.1(b), authenticate and deliver initially one or more Global Notes that (a) shall be registered in the name of the Depositary and (b) shall be delivered by the Trustee to the Depositary or pursuant to the
Depositary’s instructions or held by the Trustee as custodian for the Depositary. The Issuer has entered into a letter of representations with the Depositary in the form provided by the Depositary and the Trustee and each Agent is hereby
authorized to act in accordance with such letter and Applicable Procedures. 
 Members of, or participants in the Depositary (“Agent
Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary or by the Trustee as the custodian of the Depositary or under such Global Note, and the Issuer, the Trustee and any
agent of the Issuer or the Trustee shall be entitled to treat the Depositary as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of
the Issuer or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair as between the Depositary and its Agent Members, the operation of customary practices of the Depositary
governing the exercise of the rights of a holder of a beneficial interest in any Global Note. 
 (c)    Definitive
Notes. Except as provided in this Section 2.1, 2.3 or 2.4, owners of beneficial interests in Global Notes shall not be entitled to receive physical delivery of Definitive Notes. 

(d)    Certain Authorizations. Subject to the provisions of Section 2.4(b) hereof, the registered Holder of a
Global Note shall be entitled to grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the
Notes. 
 2.2    Authentication. The Trustee shall authenticate and deliver: (1) on the Issue Date, an
aggregate principal amount of $400,000,000 4.375% Senior Unsecured Notes Due 2028, (2) any Additional Notes for an original issue in an aggregate principal amount specified in the written order of the Issuer pursuant to Section 202 of this
Indenture and (3) in connection with any Automatic Exchange pursuant to Section 2.3(c)(vii) of this Appendix, the Global Note that is not a Transfer Restricted Note, in each case upon a written order of the Issuer signed by two Officers or
by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Issuer. Such order shall specify the amount of the Notes to be authenticated and the date on which the original issue of Notes is to be authenticated. 

2.3    Transfer and Exchange. 

(a)    Transfer and Exchange of Definitive Notes. When Definitive Notes are presented to the Note Registrar with a
request: 
 (x)    to register the transfer of such Definitive Notes; or 

(y)    to exchange such Definitive Notes for an equal principal amount of Definitive Notes of other authorized
denominations, 

  
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the Note Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided, however, that the Definitive Notes
surrendered for transfer or exchange: 
 (i)    shall be duly endorsed or accompanied by a written instrument of
transfer in form reasonably satisfactory to the Issuer and the Note Registrar, duly executed by the Holder thereof or its attorney duly authorized in writing; and 

(ii)    if such Definitive Notes are required to bear a restricted notes legend, they are being transferred or exchanged
pursuant to an effective registration statement under the Securities Act, pursuant to Section 2.3(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and documents, as applicable:

 (A)    if such Definitive Notes are being delivered to the Note Registrar by a Holder for registration
in the name of such Holder, without transfer, a certification from such Holder to that effect; or 

(B)    if such Definitive Notes are being transferred to the Issuer, a certification to that effect; or

 (C)    if such Definitive Notes are being transferred (x) pursuant to an exemption from
registration in accordance with Rule 144A, Regulation S or Rule 144 under the Securities Act; or (y) in reliance upon another exemption from the requirements of the Securities Act: (i) a certification to that effect (in the form set forth
on the reverse of the Note) and (ii) if the Issuer so requests, an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth in Section 2.3(d)(i). 

(b)    Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note. A Definitive Note
may not be exchanged for a beneficial interest in a Rule 144A Global Note or a Regulation S Global Note except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Note, duly endorsed or accompanied by
appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 

(i)    certification, in the form set forth on the reverse of the Note, that such Definitive Note is either
(A) being transferred to a QIB in accordance with Rule 144A or (B) being transferred after expiration of the Distribution Compliance Period by a Person who initially purchased such Note in reliance on Regulation S to a buyer who elects to
hold its interest in such Note in the form of a beneficial interest in the Regulation S Global Note; and 

(ii)    written instructions directing the Trustee to make, or to direct the Notes Custodian to make, an
adjustment on its books and records with respect to such Rule 144A Global Note (in the case of a transfer pursuant to clause (b)(i)(A)) or Regulation S Global Note (in the case of a transfer pursuant to clause (b)(i)(B)) to reflect an increase in
the aggregate principal amount of the Notes represented by the Rule 144A Global Note or Regulation S Global Note, as applicable, such instructions to contain information regarding the Agent Member account to be credited with such increase, 

then the Trustee shall cancel such Definitive Note and cause, or direct the Notes Custodian to cause, in accordance with the standing instructions and
procedures of the Depositary and the Notes Custodian, the aggregate principal amount of Notes represented by the Rule 144A Global Note or Regulation S Global Note, as applicable, to be increased by the aggregate principal amount of the Definitive
Note to be 

  
 -4- 

 
exchanged and shall credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Rule 144A Global Note or Regulation S Global Note, as
applicable, equal to the principal amount of the Definitive Note so canceled. If no Rule 144A Global Notes or Regulation S Global Notes, as applicable, are then outstanding, the Issuer shall issue and the Trustee shall authenticate, upon written
order of the Issuer in the form of an Officer’s Certificate of the Issuer, a new Rule 144A Global Note or Regulation S Global Note, as applicable, in the appropriate principal amount. 

(c)    Transfer and Exchange of Global Notes. 

(i)    The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the Depositary,
in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Note shall deliver to the Note Registrar a
written order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the Global Note. The Note Registrar shall, in accordance
with such instructions instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in the Global Note and to debit the account of the Person making the transfer the beneficial interest in the
Global Note being transferred. 
 (ii)    If the proposed transfer is a transfer of a beneficial interest in one Global
Note to a beneficial interest in another Global Note, the Note Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note to which such interest is being transferred in an amount equal to the
principal amount of the interest to be so transferred, and the Note Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Note from which such interest is being transferred. 

(iii)    Notwithstanding any other provisions of this Appendix (other than the provisions set forth in Section 2.4),
a Global Note may not be transferred as a whole except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor
depositary or a nominee of such successor depositary. 
 (iv)    In the event that a Global Note is exchanged for a
Definitive Note pursuant to Section 2.4 of this Appendix, such Notes may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.3 (including the certification requirements
set forth on the reverse of the Notes intended to ensure that such transfers comply with Rule 144A, Regulation S or another applicable exemption under the Securities Act, as the case may be) and such other procedures as may from time to time be
adopted by the Issuer. 
 (v)    During the Distribution Compliance Period, beneficial ownership interests in Regulation
S Global Notes may only be sold, pledged or transferred in accordance with the Applicable Procedures and only (i) to the Issuer, (ii) in an offshore transaction in accordance with Regulation S (other than a transaction resulting in an
exchange for an interest in a Regulation S Global Note) or (iii) pursuant to an effective registration statement under the Securities Act, in each case in accordance with any applicable securities laws of any State of the United States. 

(vi)    In the event that a Global Note is exchanged for Definitive Notes pursuant to Section 2.4, such Notes may be
exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.3 (including the certification requirements set forth on the reverse of the Initial Notes intended to ensure that such
transfers comply with Rule 144A, Regulation S or such other applicable exemption from registration under the Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Issuer. 

  
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 (vii)    Upon the Issuer’s satisfaction that the Notes are no
longer Transfer Restricted Notes and the legends in Section 2.3(e) below shall no longer be required in order to maintain compliance with the Securities Act, beneficial interests in a Transfer Restricted Note that is a Global Note may, at the
Issuer’s option, be automatically exchanged into beneficial interests in a Global Note that is not a Transfer Restricted Note without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on
or after the date that is the 366th calendar day after (A) with respect to the Initial Notes issued on the Issue Date, the Issue Date or (B) with respect to Additional Notes, if any, the issue date of such Additional Notes, or, in each
case, if such day is not a Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”). Upon the Issuer’s satisfaction that the Notes are no longer Transfer Restricted Notes and the legend in
Section 2.3(d) below shall no longer be required in order to maintain compliance with the Securities Act, the Issuer may (i) provide written notice to the Trustee at least 10 calendar days prior to any Automatic Exchange, instructing the
Trustee to direct the Depositary to exchange all of the outstanding beneficial interests in a particular Transfer Restricted Note that is a Global Note to a Global Note that is not a Transfer Restricted Note, which the Issuer shall have previously
otherwise made eligible for exchange with the Depositary, (ii) provide prior written notice (the “Automatic Exchange Notice”) to each Holder at such Holder’s address appearing in the register of Holders at least 10
calendar days prior to any Automatic Exchange (an “Automatic Exchange Notice Date”), which notice must include (w) the Automatic Exchange Date, (x) the section of this Indenture pursuant to which the Automatic Exchange
shall occur, (y) the “CUSIP” number of the Transfer Restricted Note from which such Holder’s beneficial interests will be transferred and (z) the “CUSIP” number of the Global Note that is not a Transfer Restricted
Note into which such Holder’s beneficial interests will be transferred, and (iii) on or prior to the date of the Automatic Exchange, deliver to the Trustee for authentication one or more Global Notes that are not Transfer Restricted Notes,
duly executed by the Issuer, in an aggregate principal amount equal to the aggregate principal amount of Transfer Restricted Notes to be exchanged. At the Issuer’s request on no less than five calendar days’ notice, the Trustee shall
deliver, in the Issuer’s name and at its expense, the Automatic Exchange Notice to each Holder at such Holder’s address appearing in the register of Holders. Notwithstanding anything to the contrary in this Section 2.3(c)(vii), during
the 10 day period between the Automatic Exchange Notice Date and the Automatic Exchange Date, no transfers or exchanges other than pursuant to this Section 2.3(c)(vii) shall be permitted without the prior written consent of the Issuer. As a
condition to any Automatic Exchange, the Issuer shall provide, and the Trustee shall be entitled to rely upon, an Officer’s Certificate reasonably acceptable to the Trustee to the effect that such Automatic Exchange shall be effected in
compliance with the Securities Act and that the restrictions on transfer contained herein and in the legends in Section 2.3(d) below shall no longer be required in order to maintain compliance with the Securities Act, and that the aggregate
principal amount of the particular Global Notes that are Transfer Restricted Notes may be transferred to the particular Global Notes that are note Transfer Restricted Notes by adjustment made on the records of the Trustee, as the depositary
custodian, to reflect such Automatic Exchange. Upon such exchange of beneficial interests pursuant to this Section 2.3(c)(vii), the aggregate principal amount of the Global Notes shall be increased or decreased by adjustments made on the
records of the Trustee, as depositary custodian, to reflect the relevant increase or decrease in the principal amount of such Global Note resulting from the applicable exchange. The Transfer Restricted Note from which beneficial interests are
transferred pursuant to an Automatic Exchange shall be canceled following such Automatic Exchange. 

  
 -6- 

 (d)    Legend. 

(i)    Except as permitted by the following paragraphs (ii), (iii) and (iv), each Note certificate evidencing the Global
Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form: 
 THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE
HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS
[IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATEST OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),] [IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATEST OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE DATE ON WHICH THIS SECURITY (OR
ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS
A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED
INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED
INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF $250,000 OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT
PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. A SECURITY NOT BEARING THIS LEGEND WILL BE ISSUED
AFTER THE RESALE RESTRICTION TERMINATION DATE IN ACCORDANCE WITH APPLICABLE PROCEDURES OF THE DEPOSITORY TRUST COMPANY, OR IF THE SECURITIES ARE NOT GLOBAL SECURITIES, UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. [IN
THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A 

  
 -7- 

 
U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.] 

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE
ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN,
INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN
ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION
4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 Each Definitive Note shall also bear the following additional legend: 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER SHALL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION REQUIRED
BY THE INDENTURE OR AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

(ii)    Upon any sale or transfer of a Transfer Restricted Note (including any Transfer Restricted Note represented by a
Global Note) pursuant to Rule 144 under the Securities Act, the Note Registrar shall permit the transferee thereof to exchange such Transfer Restricted Note for a certificated Note that does not bear the legend set forth above and rescind any
restriction on the transfer of such Transfer Restricted Note, if the transferor thereof certifies in writing to the Note Registrar that such sale or transfer was made in reliance on Rule 144 (such certification to be in the form set forth on the
reverse of the Note). 
 (iii)    After a transfer of any Initial Notes during the period of the effectiveness of a
Shelf Registration Statement with respect to such Initial Notes, all requirements pertaining to the restricted notes legend on such Initial Securities shall cease to apply and the requirements that any such Initial Notes be issued in global form
shall continue to apply. 
 (e)    Cancellation or Adjustment of Global Note. At such time as all beneficial
interests in a Global Note have either been exchanged for Definitive Notes, redeemed, purchased or canceled, such Global Note shall be returned to the Depositary for cancellation or retained and canceled by the Trustee. At any time prior to such
cancellation, if any beneficial interest in a Global Note is exchanged for certificated Notes, redeemed, purchased or canceled, the principal amount of Notes represented by such Global Note shall be reduced and an adjustment shall be made on the
books and records of the Trustee (if it is then the Notes Custodian for such Global Note) with respect to such Global Note, by the Trustee or the Notes Custodian, to reflect such reduction. 

  
 -8- 

 (f)    No Obligation of the Trustee. 

(i)    The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a
participant in the Depositary or other Person with respect to the accuracy of the records of the Depositary or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any
participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the
Holders and all payments to be made to Holders under the Notes shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary in the case of a Global Note). The rights of beneficial owners in any Global
Note shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its
members, participants and any beneficial owners. Neither the Trustee nor any Agent shall have responsibility for any actions taken or not taken by the Depositary. 

(ii)    The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among the Depositary participants, members or beneficial owners in any Global
Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial
compliance as to form with the express requirements hereof. 
 2.4    Definitive Notes. 

(a)    A Global Note deposited with the Depositary or with the Trustee as Notes Custodian for the Depositary pursuant to
Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Notes in an aggregate principal amount equal to the principal amount of such Global Note, in exchange for such Global Note, only if such transfer
complies with Section 2.3 hereof and (i) the Depositary notifies the Issuer that it is unwilling or unable to continue as depositary for such Global Note and a successor depositary is not appointed within 90 days, (ii) the Depositary
ceases to be a registered “clearing agency” under the Exchange Act and a successor depositary is not appointed within 90 days, or (iii) the Issuer, at its option, notifies the Trustee that it elects to cause the issuance of Definitive
Notes and any participant requests a Definitive Note in accordance with the Depositary’s procedures. 
 (b)    Any
Global Note that is transferable to the beneficial owners thereof pursuant to this Section 2.4 shall be surrendered by the Depositary to the Trustee located at its Corporate Trust Office to be so transferred, in whole or from time to time in
part, without charge, and the Trustee shall authenticate and deliver, upon such transfer of each portion of such Global Note, an equal aggregate principal amount of Definitive Notes of authorized denominations. Any portion of a Global Note
transferred pursuant to this Section 2.4 shall be executed, authenticated and delivered only in denominations of $2,000 principal amount and any integral multiple of $1,000 in excess thereof and 

registered in such names as the Depositary shall direct. Any Definitive Note delivered in exchange for an interest in the Transfer Restricted Note shall,
except as otherwise provided by Section 2.3(d) hereof, bear the applicable restricted notes legend and definitive notes legend set forth in Exhibit 1 hereto. 

(c)    In the event of the occurrence of one of the events specified in Section 2.4(a) hereof, the Issuer shall
promptly make available to the Trustee a reasonable supply of Definitive Notes in 

  
 -9- 

 
definitive, fully registered form without interest coupons. In the event that such Definitive Notes are not issued, the Issuer expressly acknowledges, with respect to the right of any Holder to
pursue a remedy pursuant to this Indenture, including pursuant to Section 507, the right of any beneficial owner of Notes to pursue such remedy with respect to the portion of the Global Note that represents such beneficial owner’s Notes as
if such Definitive Notes had been issued. 
 (d)    In connection with any proposed transfer of Definitive Notes in
exchange for Global Notes, the Issuer or the Depositary shall be required to provide or cause to be provided to the Trustee all information necessary to allow the Trustee to comply with any applicable tax reporting obligations, including without
limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and shall have no responsibility to verify or ensure the accuracy of such information. 

  
 -10- 

 EXHIBIT 1 

to APPENDIX I 
 [FORM OF FACE
OF INITIAL NOTE] 
 [Global Notes Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DEPOSITARY”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY) 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. 
 TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO THE DEPOSITARY, TO NOMINEES OF THE DEPOSITARY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [Restricted Notes Legend]

 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL
OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS [IN THE CASE OF RULE 144A NOTES: ONE YEAR AFTER THE LATEST OF THE ORIGINAL ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE
ISSUANCE OF ANY ADDITIONAL NOTES AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),] [IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATEST OF THE ORIGINAL
ISSUE DATE HEREOF, THE ORIGINAL ISSUE DATE OF THE ISSUANCE OF ANY ADDITIONAL NOTES AND THE DATE ON WHICH THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) WAS FIRST OFFERED TO PERSONS OTHER THAN DISTRIBUTORS (AS DEFINED IN RULE 902 OF REGULATION
S) IN RELIANCE ON REGULATION S], ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR
RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES 

 
ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT
OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED
STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS NOT A QUALIFIED
INSTITUTIONAL BUYER AND THAT IS PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF $250,000 OF SECURITIES OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. A SECURITY NOT BEARING THIS LEGEND WILL BE ISSUED AFTER THE RESALE RESTRICTION TERMINATION DATE IN ACCORDANCE WITH APPLICABLE PROCEDURES OF THE DEPOSITORY TRUST COMPANY, OR IF THE
SECURITIES ARE NOT GLOBAL SECURITIES, UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. [IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT
PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.] 

BY ITS ACQUISITION OF THIS SECURITY, THE HOLDER THEREOF WILL BE DEEMED TO HAVE REPRESENTED AND WARRANTED THAT EITHER (1) NO PORTION OF THE
ASSETS USED BY SUCH HOLDER TO ACQUIRE OR HOLD THIS SECURITY CONSTITUTES THE ASSETS OF AN EMPLOYEE BENEFIT PLAN THAT IS SUBJECT TO TITLE I OF THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OF A PLAN,
INDIVIDUAL RETIREMENT ACCOUNT OR OTHER ARRANGEMENT THAT IS SUBJECT TO SECTION 4975 OF THE U.S. INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR PROVISIONS UNDER ANY OTHER FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SIMILAR TO SUCH PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAWS”), OR OF AN ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN
ASSETS” OF ANY SUCH PLAN, ACCOUNT OR ARRANGEMENT, OR (2) THE ACQUISITION AND HOLDING OF THIS SECURITY WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION
4975 OF THE CODE OR A SIMILAR VIOLATION UNDER ANY APPLICABLE SIMILAR LAWS. 
 [Definitive Notes Legend] 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 A-2 

			
	No             	  	$            

 Entegris, Inc., a Delaware corporation, promises to pay to [    ]1 a, or registered assigns, the principal sum [of    U.S. dollars]2 on April 15, 2028. 

Interest Payment Dates: October 15 and April 15 (commencing on October 15, 2020). 

Record Dates: October 1 and April 1. 

Additional provisions of this Note are set forth on the other side of this Note. 

Dated: 
  

			
	ENTEGRIS, INC.
		
	By:	 	
                     
                            

		 	Name:
		 	Title:

  
  

	1 	 For Global Notes insert: Cede & Co. 

	2 	 For Global Notes insert: set forth on the Schedule of Increases or Decreases of Global Note attached hereto.

  
 A-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

Dated:                      

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

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	
                     
                    

	Authorized Signatory

  
 A-4 

 [FORM OF REVERSE SIDE OF INITIAL NOTE] 

4.375% Senior Unsecured Note Due 2028 
  

	1.	 Principal and Interest. 

The Issuer will pay the principal of this Note on April 15, 2028. 

The Issuer promises to pay interest on the principal amount of this Note on each Interest Payment Date, as set forth below, at the rate of
4.375% per annum. 
 Interest will be payable semi-annually (to the Holders of record of the Notes (or any Predecessor Notes) at the close
of business on October 1 or April 1 immediately preceding the Interest Payment Date) on each Interest Payment Date, commencing October 15, 2020. 

Interest on this Note will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from April 30,
2020; provided, however, that, if there is no existing Default in the payment of interest and if this Note is authenticated between a Regular Record Date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such Interest Payment Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

The Issuer shall pay interest on overdue principal and premium, if any, and interest on overdue installments of interest, to the extent
lawful, at a rate per annum equal to the rate of interest applicable to the Notes. 
  

	2.	 Method of Payment. 

The Issuer will pay interest (except Defaulted Interest) on the principal amount of the Notes on each October 15 and April 15
(commencing on October 15, 2020) to the Persons who are Holders (as reflected in the Note Register at the close of business on October 1 and April 1 immediately preceding the Interest Payment Date), in each case, even if the Note is
cancelled on registration of transfer or registration of exchange after such Regular Record Date; provided, however, that, with respect to the payment of principal, the Issuer will make payment to the Holder that surrenders this Note
to any Paying Agent on or after April 15, 2028. 
 The Issuer will pay principal, interest and premium, if any in U.S. dollars. 

However, the Issuer may pay principal, interest or premium, if any, by its check payable in such money; provided, that all payments of
principal, premium, if any, and interest with respect to Notes represented by one or more permanent Global Notes registered in the name of or held by the Depositary will be made by wire transfer of immediately available funds to the Depositary;
provided, further, that all payments of principal, premium, if any, and interest with respect to certificated Notes will be made by wire transfer of immediately available funds to any Holder of such Notes in certificate form in immediately available
funds to accounts specified by the holders of such certificate notes at least ten days in advance of the applicable payment date. Subject to the foregoing sentence, the Issuer may make payments on the Notes by mailing a check for such interest to a
Holder’s registered address (as reflected in the Note Register). If a payment date is a date other than a Business Day at a place of payment, payment may be made at that place on the next succeeding day that is a Business Day and no interest
shall accrue for the intervening period. 

  
 A-5 

	3.	 Paying Agent and Note Registrar. 

The Issuer initially appoints Wells Fargo Bank, National Association, as Paying Agent and Note Registrar. The Issuer may change any Paying
Agent or Note Registrar upon written notice thereto. The Issuer, any Subsidiary or any Affiliate of any of them may act as Paying Agent, Note Registrar or co-registrar. 

 

	4.	 Indenture. 

The Issuer issued the Notes under an Indenture dated as of April 30, 2020 (the “Indenture”), among the Issuer, the
Guarantors party thereto and the Trustee. Capitalized terms herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the
Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note
and the terms of the Indenture, the terms of the Indenture shall control. 
 The Notes are unsecured senior obligations of the Issuer. The
Indenture does not limit the aggregate principal amount of the Notes. 
  

	5.	 Redemption. 

Optional Redemption. At any time prior to April 15, 2023, the Issuer may at its option on any one or more occasions redeem all or a part
of the Notes, upon written notice as described in Section 1105 of the Indenture, at a Redemption Price equal to 100.00% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to,
but not including, the Redemption Date, subject to the rights of Holders of record of Notes on the relevant Regular Record Date to receive interest due on an Interest Payment Date that is on or prior to such Redemption Date. 

On and after April 15, 2023, the Issuer may at its option redeem the Notes, in whole or in part, on any one or more occasions, upon notice as
described in Section 1105 of the Indenture, at the Redemption Prices (expressed as percentages of principal amount of the Notes to be redeemed) set forth below, plus accrued and unpaid interest, if any, to, but not including, the applicable
Redemption Date, if such Redemption Date for the Notes being redeemed occurs during the twelve-month period beginning on April 15 of each of the years indicated below, subject to the right of Holders of record of Notes on the relevant Regular
Record Date to receive interest on an Interest Payment Date that is on or prior to such Redemption Date: 
  

					
	 Year
	  	Percentage	 
	 2023
	  	 	102.188	% 
	 2024
	  	 	101.094	% 
	 2025 and thereafter
	  	 	100.000	% 

 In addition, at any time prior to April 15, 2023, the Issuer may, at its option, upon notice as described in
Section 1105 of the Indenture, on any one or more occasions redeem up to 40.00% of the aggregate principal amount of Notes issued under the Indenture (calculated after giving effect to any issuance of Additional Notes) at a Redemption Price
equal to 104.375% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon, if any, to, but not including, the applicable Redemption Date, subject to the right of Holders of record of notes on the relevant Regular Record
Date to receive interest due on an Interest Payment Date that is on or prior to such Redemption Date, with an amount of cash equal to the net cash proceeds of an Equity Offering by the Issuer; provided, however, that at least 60.00% of the aggregate
principal amount of Notes issued under the Indenture (calculated after giving effect to any issuance of Additional Notes and excluding Notes held by the Issuer and its 

  
 A-6 

 Subsidiaries) remains outstanding immediately after the occurrence of each such redemption;
provided further, however, that each such redemption occurs within 120 days of the date of closing of each such Equity Offering. 
  

	6.	 Repurchase upon a Change of Control. 

Upon the occurrence of a Change of Control Repurchase Event, the Holders of the Notes will have the right to require that the Issuer purchase
such Holder’s outstanding Notes, in whole or in part, at a purchase price of 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but not including, the date of purchase. 

 

	7.	 Denominations; Transfer; Exchange. 

The Notes are in registered form without coupons in denominations of $2,000 principal amount and integral multiples of $1,000 in excess
thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Note Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law
or permitted by the Indenture. The Note Registrar need not register the transfer or exchange of any Notes selected for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or any Notes for a
period of 15 days before a selection of Notes to be redeemed. 
  

	8.	 Persons Deemed Owners. 

A registered Holder may be treated as the owner of a Note for all purposes. 

 

	9.	 Unclaimed Money. 

If money for the payment of principal (and premium, if any) or interest remains unclaimed for two years, the Trustee and the Paying Agent will
pay the money back to the Issuer at its written request. After that, Holders entitled to the money must look to the Issuer for payment, unless an abandoned property law designates another Person, and all liability of the Trustee and such Paying
Agent with respect to such money shall cease. 
  

	10.	 Discharge and Defeasance Prior to Redemption or Maturity. 

If the Issuer irrevocably deposits, or causes to be deposited, with the Trustee money or Government Securities sufficient to pay the then
outstanding principal of, and premium, if any, and accrued interest on, the Notes (a) to the Redemption Date or Maturity Date, the Issuer will be discharged from its obligations under the Indenture and the Notes, except in certain circumstances
for certain covenants set forth in the Indenture, and (b) to the Stated Maturity, the Issuer will be discharged from certain covenants set forth in the Indenture. 
  

	11.	 Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority
in aggregate principal amount of the Outstanding Notes, and any existing Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the Outstanding Notes. Without notice to
or the 

  
 A-7 

 
consent of any Holder, the parties thereto may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, omission, mistake, defect or inconsistency and make any
change that does not adversely affect the rights of any Holder. 
  

	12.	 Restrictive Covenants. 

The Indenture contains certain covenants, including covenants with respect to the following matters: (i) Limitation on Liens;
(ii) Limitation on Subsidiary Debt; (iii) Limitation on Sale and Leaseback Transactions; (iv) mergers, consolidations and certain transfers of assets; and (v) purchase of Notes upon a Change of Control Repurchase Event. Within
120 days after the end of each fiscal year, the Issuer must report to the Trustee on compliance with such limitations. 
  

	13.	 Successor Persons. 

When a successor Person or other entity assumes all the obligations of its predecessor under the Notes and the Indenture in accordance with the
terms of the Indenture, the predecessor Person will be released from those obligations. 
  

	14.	 Remedies for Events of Default. 

If an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the Outstanding Notes may declare all the Notes to be immediately due and payable. If a bankruptcy or insolvency Default with respect to the Issuer occurs and is continuing, the Notes automatically become immediately due and payable. Subject to
the provisions of the Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any rights or powers under the Indenture at the request or direction of
any of the Holders of the Notes unless such Holders have offered indemnity or security against any loss, liability or expense satisfactory to the Trustee. Subject to certain restrictions, the Holders of a majority in principal amount of the
outstanding Notes are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow
any direction that conflicts with law or this Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability. 

 

	15.	 Guarantees. 

The Issuer’s obligations under the Notes are fully and unconditionally guaranteed on a senior unsecured basis, to the extent set forth in
the Indenture, by each of the Guarantors. 
  

	16.	 Trustee Dealings with Issuer. 

The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may make loans to,
accept deposits from, perform services for, and otherwise deal with, the Issuer and its Affiliates as if it were not the Trustee. 
  

	17.	 Authentication. 

This Note shall not be valid until the Trustee manually signs the certificate of authentication on the other side of this Note. 

  
 A-8 

	18.	 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). 
  

	19.	 CUSIP Numbers. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to
be printed on the Notes and the Trustee may use CUSIP numbers in notices 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 and reliance may be
placed only on the other identification numbers placed thereon. 
  

	20.	 Governing Law. 

THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. THE PARTIES HERETO AGREE TO SUBMIT
TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SECURITY OR THE INDENTURE. 

The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to Entegris, Inc.,
129 Concord Road, Billerica, Massachusetts, 01821. 
 Capitalized terms used herein but not defined herein shall have the meanings given to
such terms in the Indenture. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
 (Print or type assignee’s name, address and zip code) 

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

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

                          
                                         
                                         
                                         
                                         
                                         
         

Date:                       
               Your Signature:                       
                                         
                                         
                                         
                    

                          
                                         
                                         
                                         
                                         
                                         
       
 Sign exactly as your name appears on the other side of this Note. 

In connection with any transfer of any of the Notes evidenced by this certificate occurring prior to the date that is one year after the later of the date of
original issuance of such Notes and the last date, if any, on which such Notes were owned by the Issuer or any “Affiliate” of the Issuer within the meaning of the Securities Act of 1933, as amended (the “Securities Act”),
the undersigned confirms that such Notes are being transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 

☐  to the Issuer or a Subsidiary of the Issuer; or 

(1)    ☐ to the Registrar for registration in the name of the Holder, without transfer; or 

(2)    ☐ pursuant to an effective registration statement under the Securities Act; or 

(3)    ☐ inside the United States to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance
with Rule 144A under the Securities Act; or 
 (4)    ☐ outside the United States in an offshore
transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act; or 

(5)    ☐ pursuant to the exemption from registration provided by Rule 144 under the Securities
Act; or 
 (6)    ☐ to an institutional “accredited investor” (as defined in Rule
501(a)(1), (2), (3) or under the Securities Act), that has furnished to the Trustee a signed letter in the form of Exhibit 2 to Appendix I containing certain representations and agreements relating to the transfer of this Note. 

Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate in the name of any person other than
the registered holder thereof; provided, however, that if box (4) is checked, the Trustee shall be entitled to require, prior to registering any such transfer of the 

  
 A-10 

 
Notes, such legal opinions, certifications and other information as the Issuer has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act, such as the exemption provided by Rule 144 under such Act. 
  

					
	  
	  		  	
	Signature	  		  	
			
	Signature Guarantee:	  		  	
			
	  
	  		  	  

	Signature must be guaranteed	  		  	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Note Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 TO BE COMPLETED BY
PURCHASER IF (2) ABOVE IS CHECKED. 
 The undersigned represents and warrants that it is purchasing this Note for its own account or an
account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act, and is aware that the sale to it is being
made in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the
transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

			
	
Dated:                  
   
	  	
		  	Notice: To be executed by an executive officer

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The Initial principal amount of this Global Note is $        . The following increases or decreases 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
signatory of
Trustee or Notes
Custodian	 
		 				 				 				 			
		 				 				 				 			
		 				 				 				 			

  
 A-11 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 1013 of the Indenture, check the
box:  ☐ 
 ☐  If you want to elect to have only part of this Note purchased by the Issuer pursuant to
Section 1013 of the Indenture, state the amount in principal amount: $         
  

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

  

					
	
	Signature
Guarantee:                                       
                                         
                                         
                                         
                   
	(Signature must be guaranteed)

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar,
which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 A-12 

 EXHIBIT 2 

to APPENDIX I 
 Form of 

Transferee Letter of Representation 
 Entegris,
Inc. 
 129 Concord Road 
 Billerica, MA 01821 

Wells Fargo Corporate Trust-DAPS Reorg 
 600 Fourth Street South,
7th Floor 
 MAC N9300-070 

Minneapolis, MN 55415 
 Phone: 1-800-344-5128 
 Fax: 1-866-969-1290 
 Email: dapsreorg@wellsfargo.com 

Ladies and Gentlemen: 
 This certificate is delivered to request
a transfer of $         principal amount of the 4.375% Senior Unsecured Notes Due 2028 (the “Notes”) of Entegris, Inc., a Delaware corporation (the “Issuer”). 

Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows: 

Name:                         
                                 

Address:     
                                         
                    
 Taxpayer ID
Number:                       

The undersigned represents and warrants to you that: 

1.    We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under
the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Notes, and we are
acquiring the Notes not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits
and risks of our investment in the Notes, and we invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its
investment. 
 2.    We understand that the Notes have not been registered under the Securities Act and, unless so
registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date that is
one year after the later of the date of original issue and the last date on which the Issuer or any affiliate of the Issuer was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination Date”) only
(i) to the Issuer, (ii) pursuant to a registration statement that has been declared effective under the Securities Act, (iii) in a transaction complying with the requirements of Rule 144A under the Securities Act (“Rule
144A”), to a person we reasonably believe 

  
 A-13 

 
is a qualified institutional buyer under Rule 144A (a “QIB”) that is purchasing for its own account or for the account of a QIB and to whom notice is given that the transfer is
being made in reliance on Rule 144A, (iv) pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act, (v) to an institutional “accredited investor” within the
meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is purchasing for its own account or for the account of such an institutional “accredited investor,” in each case in a minimum principal amount of Securities of
$250,000, or (vi) pursuant to any other available exemption from the registration requirements of the Securities Act, subject in each of the foregoing cases to any requirement of law that the disposition of our property or the property of such
investor account or accounts be at all times within our or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any
resale or other transfer of the Notes is proposed to be made pursuant to clause (v) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to
the Issuer and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring
such Notes for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Issuer and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction
Termination Date of the Notes pursuant to clause (iv), (v) or (vi) above to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Issuer and the Trustee. 

 

			
	TRANSFEREE:	 	
    ,

 

			
	By:	 	         

  
 A-14 

 EXHIBIT A 

FORM OF SUPPLEMENTAL INDENTURE 

TO BE DELIVERED BY SUBSEQUENT GUARANTORS 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of          20
    , among the Issuer, (the “Guaranteeing Subsidiary”), a subsidiary of the Issuer and Wells Fargo Bank, National Association, as trustee under the Indenture referred to below (the “Trustee”).

 W I T N E S S E T H 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture dated as of April 30, 2020 (the
“Indenture”), providing for the issuance of 4.375% Senior Unsecured Notes due 2028 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note
Guarantee”); and 
 WHEREAS, pursuant to Section 901 of the Indenture, the Trustee is authorized to execute and deliver this
Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1.    CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture. 
 2.    AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to provide an unconditional Note
Guarantee on the terms and subject to the conditions set forth in the Indenture, including, but not limited to, Article 12 thereof. 

3.    NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, incorporator, stockholder or
agent of the Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Issuer or any Guaranteeing Subsidiary under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

4.    GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. THE PARTIES HERETO AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
SUPPLEMENTAL INDENTURE. 
 5.    COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement. 

  
 A-1 

 
The exchange of copies of the Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of the Supplemental Indenture as to
the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

6    EFFECT OF HEADINGS. The Section headings herein are for convenience or reference only and are not intended to be
considered a part hereof and shall not affect the construction hereof. 
 7.    THE TRUSTEE. The Trustee makes no
representation as to and shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely
by the Guaranteeing Subsidiary and the Issuer. 

  
 A-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written. 
 Dated:              , 20
     
  

			
	ENTEGRIS, INC.
		
	By:	 	             

	Name:	 	
	Title:	 	
	
	[GUARANTEEING SUBSIDIARY],
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 EXHIBIT B 

INCUMBENCY CERTIFICATE 
 The
undersigned,                      , being the
                     of Entegris, Inc., a Delaware corporation (the “Issuer”), does hereby certify, in such capacity and not in any
individual capacity, that the individuals listed below are qualified and acting officers of the applicable entity as set forth in the right column opposite their respective names and the signatures appearing in the extreme right column opposite the
name of each such officer is a true specimen of the genuine signature of such officer and such individuals have the authority to execute documents to be delivered to, or upon the request of, Wells Fargo Bank, National Association, as Trustee under
the Indenture dated as of April 30, 2020, by and among the Issuer, the Guarantors party thereto and Wells Fargo Bank, National Association. 
  

					
	Name	  	Title and Entity	  	Signature
		  		  	
		  		  	

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this 

Certificate as of the              day of
            , 20    . 
  

			
	ENTEGRIS, INC.
		
	By:	 	         

	Name:	 	
	Title:	 	

  
 B-1Exhibit

Exhibit 10.1

EXECUTION VERSION
CONFIDENTIAL

OPTION AGREEMENT
This Option Agreement (including all Schedules, exhibits and annexes attached hereto or referenced herein, which in each case are made a part hereof, this “Agreement”) is entered into and effective as of January 6, 2020 (the “Effective Date”) by and between Pabst Brewing Company, LLC, a Delaware limited liability company (“Pabst”), MillerCoors LLC, a Delaware limited liability company (“MillerCoors”) and MillerCoors USA LLC, a Delaware limited liability company (“Optionor”).  Each of Pabst, MillerCoors and Optionor may be referred to herein collectively as the “Parties” and separately as a “Party.” 
RECITALS
WHEREAS, MillerCoors and Pabst entered into a Settlement Agreement dated as of the date hereof (the “Settlement Agreement”);
WHEREAS, Optionor owns the fee simple interest in and to the parcels of real property as legally described in Exhibit A attached hereto and incorporated herein by reference (the “Land”), together with all buildings and improvements located thereon (the “Improvements”), which Improvements include the brewery at 81 East First Street and 15801 First Street in Irwindale, California (the “Brewery”); 
WHEREAS, in accordance with the terms provided for herein, Optionor and MillerCoors hereby agree to grant to Pabst an option to acquire the Purchased Assets (as hereinafter defined), which includes the Brewery and certain additional assets, and Pabst hereby agrees to accept the option to acquire the Purchased Assets, upon the terms and provisions set forth more fully below; and 
WHEREAS, capitalized terms have the meanings ascribed to them in this Agreement, including in Annex A hereto.
NOW, THEREFORE, for good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged by the Parties, the Parties hereto agree as follows:
1.OPTION GRANT; TERM; EXERCISE NOTICE; CLOSING.
1.1    Option Grant.  Optionor and MillerCoors hereby grant Pabst an option (the “Option”) to purchase, subject to and in accordance with the terms of this Agreement (including, without limitation, the conditions precedent contained in Section 7.2 below), all of the Optionor’s right, title and interest in and to the Purchased Assets.  The purchase price for the Purchased Assets shall be One Hundred Fifty Million and No/100 US Dollars ($150,000,000.00) (the “Purchase Price”), subject to adjustment in accordance with Article 9.  No later than sixty (60) days following the Exercise Date (as defined below), Optionor shall deliver to Pabst a valuation study by a third-party appraiser allocating the Purchase Price among the Purchased Assets (the “Allocation Appraisal”). Optioner shall choose the third party appraiser (i) with the prior written consent of Pabst (not to be unreasonably withheld) for any nationally recognized appraiser of breweries or (ii) in its sole discretion for any “Big Four” accounting firm.  Pabst shall have fifteen (15) days thereafter 

SC1:4886116.33

to review and raise any objections with respect to the Allocation Appraisal.  If Pabst does not timely raise any objections, Pabst will be deemed to have approved the Allocation Appraisal as delivered by Optionor for purposes of: (i) the filing of all tax returns and any other forms relating to state and federal income taxes, transfer taxes, excise taxes, sales taxes and/or similar taxes in the event of a Closing (such returns and forms, the “Tax Returns”) and (ii) valuing the Land other than the Pits for purposes of Section 1.10(a).  If Pabst raises any such objections, Pabst and Optionor shall, for the thirty (30) days thereafter, exercise good faith efforts to resolve those objections, and, if Pabst and Optionor cannot resolve any disagreements relating to the Allocation Appraisal within such thirty (30)-day period, Pabst and Optionor shall submit the matter for resolution to the Independent Accountants as provided in Section 12.5 below, who shall in such case make the final determination with respect to the Allocation Appraisal.  Each of the Parties shall file all Tax Returns and other forms with all applicable tax authorities on a basis consistent with the Allocation Appraisal.
1.2    Purchased Assets.  
(a)The Purchased Assets shall include the Land, the Improvements (including, without limitation, the Brewery) and all rights, privileges and easements appurtenant to Optionor’s interest in the Land and the Improvements, including (without limitation) all of Optionor’s right, title and interest, if any, in and to all mineral and water rights and all easements, covenants and other rights of way or other appurtenances used in connection with the beneficial use and enjoyment of the Land and the Improvements, including (without limitation) any easements for parking, accesses or utilities (the Land, the Improvements and all such easements, rights and appurtenances, collectively, the “Real Property”), together with the following assets (hereinafter referred to collectively with the Real Property as the “Purchased Assets”):
		
	(i)
	Brewery Assets.  All of the owned machinery, equipment (including, for the avoidance of doubt, the keg line and all equipment (including the CIP system) related thereto), furniture, fixtures, trade fixtures, maintenance, repair and operations inventory (“MRO Inventory”; MRO Inventory, for the avoidance of doubt, shall not be considered inventory for purposes of Section 1.2(c)(v)), improvements, office equipment, office supplies, and other tangible personal property, which are used primarily in the operation of the Brewery (including without limitation the manufacturing, packaging, bottling, canning, and distribution processes) and are located on or at the Real Property (collectively, with the computer equipment described in (iii) below, and excluding, for the avoidance of doubt, the Excluded Assets, the “Brewery Assets”), provided that Brewery Assets shall not include any property that is leased by an Optionor Party from a third party, it being understood that the scope of leased Purchased Assets is provided for below in Section 1.2(a)(ii).

		
	(ii)
	Leased Assets and Equipment Leases.  All rights and interest in and to all equipment leases and other leases for Leased Assets located on or at the Real Property and used primarily at the Real Property, (the 

2

SC1:4886116.33

“Equipment Leases”), to the extent assignable and save and except the Cancelled Contracts; provided that any equipment leases and/or master equipment leases which include any equipment located outside of the Real Property (the “Master Leases”) shall not be transferred.
		
	(iii)
	Computer Equipment. (1) All (x) computer equipment located on or at the Real Property and used in Brewery operations specifically designated as “Brewery” and containing a “Y” in Column H, in Schedule 1.2(a)(iii) attached hereto (collectively, “Brewery Computer Equipment”) that is owned by Optionor or MillerCoors and (y) all rights and interest in and to all leases and licenses (if any) for Brewery Computer Equipment, to the extent assignable and save and except the Cancelled Contracts, and (2)  all software (i) applications contained in the Brewery Computer Equipment or (ii) designated as “Brewery” and containing a “Y” in Column G in Schedule 1.2(a)(iii) attached hereto (collectively “Transferred Software”), save and except the Cancelled Contracts, provided that the Transferred Software shall only include software subject to the ability to transfer such software to Pabst, and subject to consents of third parties as necessary. For the avoidance of doubt, Transferred Software does not include proprietary data that includes MillerCoors' competitively sensitive information as determined by MillerCoors, including without limitation, specifications, recipes and formulas that are not used to produce Pabst beer.

		
	(iv)
	Union Contracts.  All right, title and interest in and to any agreements with any union, including collective bargaining agreements, side letters and memoranda of understanding covering employees located at the Brewery as written on the Effective Date with any amendments as required by law or as mandated by amendments to or otherwise required by a Union Employee Benefit Plan (the “Union Contracts”), as such contracts may be amended at or prior to Closing by Pabst (subject to the terms of Section 1.7(d) and paragraph (c) of Schedule 1.4).

		
	(v)
	Service Contracts.  All right, title and interest in and to all service contracts and maintenance contracts pertaining primarily to the Purchased Assets (the “Service Contracts”), to the extent assignable, and all warranties, guarantees, and other agreements pertaining solely to the Purchased Assets, to the extent assignable, in all cases save and except the Cancelled Contracts.

		
	(vi)
	Licenses and Permits.  All licenses, permits, approvals, qualifications, registrations and governmental authorizations (the “Permits”) 

3

SC1:4886116.33

related primarily to the Purchased Assets, but (subject to Sections 4.2 and 7.1(e)) only to the extent assignable or transferable, and, further, not including any licenses and/or permits issued by the Alcohol and Tobacco Tax and Trade Bureau or any state alcoholic beverage commission (the “TTB Licenses”).
		
	(vii)
	Records.  All engineering data, designs, drawings, surveys, maintenance records, equipment manuals and equipment records to the extent related solely to the Purchased Assets (“Records”), but subject to Section 4.4, not including formulas, competitively sensitive information, accounting records, recipes, and/or trade secrets of Optionor, MillerCoors and/or their Affiliates or any employment information of any employee or former employee of MillerCoors or any of its Affiliates.  Notwithstanding the foregoing, Purchased Assets shall include the relevant employment information and records of current employees of Optionor, MillerCoors and/or their Affiliates who consent in writing to the transfer of such information/records.

		
	(viii)
	Non-union Benefit Plans.   The Kaiser Permanente Traditional HMO Plan (the “Kaiser Plan”), to the extent such plan is assignable.  

		
	(ix)
	Union Employee Benefit Plans. All rights to the Multiemployer Plans provided under any of the collective bargaining agreements with the unions at the Brewery, as amended pursuant to Section 1.2(a)(iv) (each, a “Union Employee Benefit Plan”).

		
	(x)
	Leases. Subject to Section 1.8, all space leases, subleases, licenses and other occupancy agreements, together with any and all amendments, modifications or supplements thereto and guaranties related thereto, relating to the Purchased Assets or any portion thereof and pursuant to which Optionor or any Optionor Party is lessor or sublessor and the counterparty thereunder is not an Optionor Party (the “Leases”).

		
	(xi)
	Keg and Pallets. Any 1/2 barrel kegs and pallets associated with such kegs located at the Real Property.  

		
	(xii)
	Greenhouse Credits. All greenhouse gas emission credits, carbon credits or similar environmental tax credits related to the Brewery and allocated to the Brewery for periods from and after Closing.  

Notwithstanding anything to the contrary in this Section 1.2(a), the Purchased Assets shall not include any assets located as of the Effective Date at any brewery other than the Brewery.
(b)    The Purchased Assets may be subject to the Permitted Liens.  As used herein, the term “Permitted Liens” shall mean (i) statutory liens for current taxes, assessments, fees and 

4

SC1:4886116.33

other charges by Governmental Entities that are not due and payable as of the Closing Date, (ii) zoning restrictions, building codes and other land use laws regulating the use or occupancy of the Brewery or activities conducted thereon, (iii) easements, rights of way, imperfections in title, covenants, conditions, encroachments, restrictions, and similar encumbrances against real property, in each case of record as of the Exercise Date and which do not, individually or in the aggregate, hinder the use or operation of the Purchased Assets, (v) any survey matters which would be revealed, as of the Exercise Date, by an accurate ALTA/ACSM survey of the Brewery; and (vi) those statutory and contractual liens granted by Optionor to any lessor or licensor under any leases or licenses assumed by Pabst under Section 1.2 (provided that any such statutory or contractual liens granted in violation of Article 4 shall not be considered Permitted Liens).  For purposes of clarity, Permitted Liens shall mean all matters disclosed in the title commitment and surveys obtained by Pabst prior to the Exercise Date, other than the Mandatory Cure Items, as hereinafter defined. Notwithstanding the foregoing, Optionor shall be required prior to the Closing to cure and cause the removal from title to the Real Property of all monetary liens related to the Real Property or any portion of the Purchased Assets, including without limitation all mortgage liens, mechanic’s liens and judgment liens suffered or incurred (or arising from actions or omissions) by Optionor or its Affiliate (“Mandatory Cure Items”), and, notwithstanding anything to the contrary herein, Mandatory Cure Items shall not constitute Permitted Liens.
(c)    Notwithstanding the foregoing, the following assets of Optionor (the “Excluded Assets”) shall not be transferred to Pabst even though they may relate primarily to a Purchased Asset:
		
	(i)
	Cash.  All cash, cash equivalents, bank accounts and securities.

		
	(ii)
	All prepaid expenses.  Subject to the provisions of Article 9, all (A) prepaid expenses and advance payments in respect of periods following the Closing Date, and (B) security deposits.

		
	(iii)
	Accounts Receivable.  All accounts receivables, notes receivables, affiliate receivables, and similar rights of Optionor. 

		
	(iv)
	TTB Licenses.  The TTB Licenses.

		
	(v)
	Inventory.  All inventory (but not MRO Inventory), finished goods and work in progress, other than the specific kegs and related pallets described in Section 1.2(a)(xi).

		
	(vi)
	[Omitted.]

		
	(vii)
	Raw Materials.  All of the raw materials, including without limitation, Optionor’s hops, its wort streams, its yeasts, its cans, its bottles and its ingredients. 

		
	(viii)
	Software.  All software and all right, title and interest in and to all the software licenses for any software located or used at the Brewery 

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that are, in each case, identified in Schedule 1.2(a)(iii) and containing an “N” in column G attached hereto (the “Excluded Software”) and any software located or used at the Brewery which cannot be transferred to Pabst under the terms of the applicable agreement or for which a consent from the third party provider has not been obtained at or prior to the Closing.   
		
	(ix)
	Computer Equipment.  All (A) laptops, (B) all computer equipment which is not located at the Real Property and (C) if Optionor discovers additional computer equipment at the Brewery after the Effective Date (i.e., equipment not referenced as of the Effective Date on Schedule 1.2(a)(iii)), and if in each case such additional equipment is not integral to Brewery operations, then any such additional equipment of which MillerCoors notices Pabst in writing that it is excluding pursuant to this Section 1.2(a)(ix) within sixty (60) days of the Effective Date (collectively, “Excluded Computer Equipment”).  

		
	(x)
	Employee Benefit Plans.  All employee benefit plans, programs or arrangements providing for compensation, bonuses, profit sharing, stock option or other forms of deferred compensation,  fringe benefits, health or medical benefits, employee assistance program, disability or sick leave benefits, workers’ compensation, supplemental unemployment benefits, severance benefits and post-employment or retirement benefits (including compensation, pension, health, medical or life insurance benefits), including any assets related to such employee benefit plans; provided that the benefit plans listed as Purchased Assets would be transferred.

		
	(xi)
	Intellectual Property Assets.  All of the U.S. and foreign patents, patent applications, trademarks, trademark registrations, trademark applications, copyrights, copyright registrations, copyright applications, mask works, service marks, service mark registrations, service mark applications, European Community design rights, domain names, web sites, trade names, inventions, research and development, discoveries, and recipes, formula, trade secrets, know-how, proprietary information, confidential information, technical knowledge, advertising rights, goodwill and related rights of the Optionor, MillerCoors and/or their Affiliates (collectively, the “Intellectual Property”); provided that any DBA filings, if any, with the Los Angeles County Registrar’s office related to Pabst or any Pabst products and any derivations thereof shall not be Excluded Assets.  

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	(xii)
	Retained Entities.  Any right, title and interest in any entity owned directly or indirectly by Molson Coors Beverage Company.

		
	(xiii)
	MillerCoors USA.  Optionor’s franchise to be a limited liability company, organizational costs, certificate of formation, operating agreement, minute books, corporate seals and other corporate records having to do with its organization and capitalization.  

		
	(xiv)
	Rights.  All rights to any action, suit or claim of any nature available to or being pursued by Optionor, whether arising by way of counterclaim or otherwise.

		
	(xv)
	Retained Breweries.  All right, title and interest in any breweries, other than the Brewery.  

		
	(xvi)
	Real Estate Leases. All right, title and interest in and to any real estate leases not demising the Purchased Assets or any portion thereof. 

		
	(xvii)
	Certain Intangible Assets.  All (A) customer and distributor lists, (B) supplier lists, other than any specific suppliers whose raw materials are used in the operation of the Brewery, and (C) research and development materials unrelated to the brewing of Pabst products.

		
	(xviii)
	Taxes.  All tax refunds, credits and prepayments relating to the period on or prior to the Closing Date.

		
	(xix)
	Records.  All books of account, ledgers, billing records, accounting records, correspondence, manuals, marketing and sales literature, and other books and records of Optionor, including any information containing any confidential information, formulas and/or trade secrets of Optionor, MillerCoors and/or their Affiliates, in each case not relating primarily to the production or packaging of Pabst products, and all employment records of employees or former employees unless such individual consents to the transfer to Pabst.

		
	(xx)
	Miscellaneous Assets.  All artwork and any historic memorabilia and rights therein. 

		
	(xxi)
	Vehicles and Trailers.  All vehicles and trailers.

		
	(xxii)
	Supply Agreements.  All rights to supply agreements with any third parties.

		
	(xxiii)
	Insurance.  All rights to MillerCoors’ and/or their Affiliates’ insurance policies, except for any monetary awards which Pabst is entitled to receive pursuant to Article 5 (Damage or Condemnation).

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	(xxiv)
	Greenhouse Credits.  All greenhouse gas emission credits, carbon credits or similar environmental tax credits related to the Brewery and allocated to the Brewery for periods prior to the Closing Date.

		
	(xxv)
	All Other Assets.  All other assets of Optionor, other than those assets specifically set forth in the definition of Purchased Assets.

(d)    Signage.  Optionor shall not have any obligation (including financial) to remove any logos and signs related to the Optionor, MillerCoors and their brands, including all signage and skins on any vats included within the Purchased Assets (collectively, “Signage”).  Should Pabst exercise the Option and a Closing occur, Pabst shall have the right from and following Closing to remove and dispose of Signage. 
(e)    Kegs and Pallets.  For clarity, any kegs and pallets which are included in the Purchased Assets shall count towards 85,000 1/2 barrel kegs and pallets associated with such kegs to be delivered to Pabst pursuant to the Settlement Agreement.
(f)    Contracts.  To the extent any Permits or Assumed Contracts included as part of the Purchased Assets require any fees, costs or expenses to be paid to any Person (other than an Affiliate of Optionor or MillerCoors) in connection with the transfer or assignment of such Purchased Assets at the Closing, Pabst shall be solely responsible for the payment of such fees, costs and expenses associated with the transfer or assignment to Pabst of any such Permits or Assumed Contracts.  Pabst shall also be responsible for any costs to be paid to any Person (other than an Affiliate of Optionor or MillerCoors) to obtain licenses to software and to configure any software to allow Pabst to operate the Brewery.
(g)    Covenant Not to Sue. From and after the Closing Date, Optionor and MillerCoors shall not, and shall cause their Affiliates not to, directly or indirectly, sue or initiate, be a party to, or otherwise assert or participate in any way with respect to any action against Pabst or its current or future Affiliates or their respective successors or assigns for any infringement, misappropriation, or other violation of any Brewery IP (defined herein) in connection with the: (i) use, copying, modification, development, creation of derivative works, or other exploitation of any and all such Brewery IP for purposes of the operation of the Brewery, or (ii) use of such Brewery IP to make or otherwise produce any Pabst product (currently existing or developed in the future) at the Brewery or the sale, offer for sale, import or other distribution of any such product. Optionor and MillerCoors, on behalf of themselves and their Affiliates, acknowledge and agree that the covenant not to sue granted under this Section 1.2(g) shall be binding upon any assignee, exclusive licensee, or any other successor-in-interest.  Pabst shall not brew any of MillerCoors' or its Affiliates' beer at the Brewery following the Closing Date, without a written alternation agreement.  This Section 1.2(g) shall survive the Closing indefinitely. For clarity, the foregoing does not represent an obligation that MillerCoors or its Affiliates will obtain a covenant not to sue from any third party, including software providers.
(h)    Brewery IP.  “Brewery IP” means patents, copyrights, trade secrets (only as they relate to the Brewery and the operation of the Brewery with respect to the manufacture, packaging, bottling, canning and distribution of Pabst’s beer, including its wort streams used to 

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make Pabst products), related know-how, and specific applications corresponding to Transferred Software (including any specific configurations or customized environments specific to the Brewery) owned by Optionor or MillerCoors or their Affiliates and used in the operation of the Brewery. For the avoidance of doubt, Brewery IP does not include any (1) any formulas, recipes, and/or trade secrets of Optionor, MillerCoors and/or their Affiliates not related to the Brewery and the production of Pabst's products at the Brewery, (2) any third-party software, (3) trademarks, service marks, goodwill and related rights of Optionor, MillerCoors and/or their Affiliates or (4) any Intellectual Property not used at the Brewery.
(i)    IT Acknowledgement.  Pabst acknowledges that it will not be obtaining Optionor's ERP system and certain other hardware servers and software that are necessary for the Brewery to operate, designated by an “N” in columns G and H on the Schedule 1.2(a)(iii) hereto and any third-party software which is not permitted to be transferred or cannot be transferred without consent.  Pabst acknowledges that it must obtain at its election its own licenses for all software that is listed with a “Y” in column G on Schedule 1.2(a)(iii) and such software will only be assigned to Pabst with the approval of the third parties and if such license can be separated.  Pabst acknowledges that it will not be entitled to any software that is listed with a “N” on Schedule 1.2(a)(iii).  
1.3    No Assumption; Liability Disclosure Notice.  
(a)    Subject to Section 12.15 (As-Is Sale) and other than pursuant to applicable laws or the express terms of this Agreement, Pabst shall not assume or have any responsibility for any Liability relating to the Purchased Assets (or any portion thereof) for any acts, omissions or occurrences of the Optionor Parties prior to the Closing, and, notwithstanding anything to the contrary herein, Optionor and MillerCoors shall retain, and Optionor and MillerCoors shall discharge and perform when due and payable, all Liabilities relating to the Purchased Assets (or any portion thereof) for any acts, omissions or occurrences of the Optionor Parties prior to the Closing.  For instance, if an employee of MillerCoors brings a wage and hour claim after Closing relating to acts, omissions or occurrences of the Optionor Parties that exist or arise prior to Closing or amends a pre-Closing claim after Closing to add additional claims such as waiting time penalties relating to acts, omissions or occurrences of the Optionor Parties that exist or arise prior to Closing, MillerCoors shall be responsible for any resulting Liabilities.  The Parties acknowledge and agree that Pabst shall assume all Liabilities arising from the Assumed Contracts (including with respect to the Leased Assets leased thereunder) following the Closing pursuant to the Assignment and Bill of Sale entered into at Closing, as well as the Permits assigned thereunder.  For clarity, any claim pursuant to this Section 1.3(a) shall be made pursuant to Section 11.2(d). 
(b)    Within sixty (60) days of the Effective Date, Optionor agrees to deliver to Pabst a list, as of such date of delivery, of any pending or, to Optionor's Knowledge, threatened (in writing) lawsuits or governmental actions, which are of the type to be set forth on Schedule 3.1(d) (the “Liability Disclosure Notice”).
(c)    In the event the Closing occurs, MillerCoors shall not assume or have any responsibility for any Liability relating to the Purchased Assets (or any portion thereof) for acts or occurrences on or after the Closing, and Pabst shall assume, and shall discharge and perform when due and payable, all Liabilities relating to the Purchased Assets (or any portion thereof) for acts or 

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occurrences on or after the Closing.  MillerCoors shall have no obligation to maintain any insurance on the Purchased Assets after the Closing.  For instance, if an employee falls or is injured by an unsafe piece of equipment the day following the Closing, Pabst shall be responsible for any Liabilities related to a claim arising from such fall or injury.  In the event that an employee or third party contractor falls and is injured the day prior to the Closing, Optionor shall be responsible for any Liabilities related to a claim arising from such fall or injury.  For clarity, any claim pursuant to this Section 1.3(c) shall be made pursuant to Section 11.3(a)(iv).  
(d)    Pabst shall be responsible for any Liabilities solely for Pabst’s unlawful actions with respect to Optionor’s and MillerCoors’ employees prior to or after the Closing (including wrongful termination, discrimination, retaliation or unlawful harassment claims) (any such Liabilities, “Pabst’s Hiring Liability”).  
(e)    This Section 1.3 shall survive the Closing.
1.4    Employees.  The Parties agree to the terms and conditions of Schedule 1.4.  Further, in connection with the termination of any of its employees, MillerCoors and its Affiliates shall pay out all paid time off to its employees in accordance with California law for the pre-Closing period.  This Section 1.4 shall survive the Closing indefinitely.
1.5    Option Term.  
(a)    Exercise.  Pabst may exercise the Option by delivering (i) written notice to Optionor electing to purchase the Purchased Assets (the “Exercise Notice”; and the date of delivery of the Exercise Notice, the “Exercise Date”) at any time during the one hundred twenty (120) days following Pabst’s receipt of the Closure Notice and (ii) the Deposit (as defined below) to Escrow Agent in accordance with Section 6.1 below.  If Pabst fails to timely deliver the Exercise Notice and the Deposit in accordance with this Section 1.5 and Section 6.1 below, the Option and this Agreement shall immediately expire, terminate and be of no further force or effect, and Optionor may (x) commence the Plant Closure, (y) commence to market the Purchased Assets for sale, and/or (z) sell any of the Purchased Assets free of Pabst’s Option.  
(b)    Plant Closure. Optionor shall elect, prior to March 1, 2020 (the timing of such election prior to March 1, 2020 to be made by Optionor in its sole and absolute discretion), to discontinue its operations at the Brewery and close the Brewery (hereinafter referred to as a “Plant Closure”); provided that MillerCoors shall comply with its obligations set forth in Article 4.  Optionor shall provide Pabst with written notice of its election to effectuate a Plant Closure no later than March 1, 2020 (the “Closure Notice”; and the date of delivery (including deemed delivery), the “Closure Notice Delivery Date”), it being understood that if Optionor does not timely provide the Closure Notice to Pabst, the Closure Notice shall be deemed delivered by Optionor and received by Pabst on March 1, 2020.  Optionor and Pabst agree to discuss any modifications to the Plant Closure process to allow for a more seamless transition and sale process; provided that MillerCoors and its Affiliates shall not be required to pay any stay bonuses to any of its employees or to guarantee the number of employees who will continue to work through any transition.  

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(c)    Closing Date.  The Exercise Notice must include a date for the closing of the purchase and sale of the Purchased Assets (the “Closing”), which Closing shall be within six (6) months after the Exercise Date, but in no event earlier than September 1, 2020 or later than December 31, 2020.  The date of the Closing, as the same may be extended pursuant to Section 10.1 and/or Section 10.2, is referred to herein as the “Closing Date.”
(d)    Transition Services. Within sixty (60) days of the Exercise Date upon the prior written request by Pabst delivered to Optionor, the Parties will use commercially reasonable efforts to negotiate a transition services agreement (the “Transition Services Agreement”) that would remain in place for a maximum of ninety (90) days after the Closing; provided however, that Optionor shall not be liable for any damages under the Transition Services Agreement (except breach by Optionor of the standard of service set forth in the Transition Services Agreement) and the Transition Services Agreement shall provide commercially reasonable compensation to Optionor for the services provided thereunder.  The Transition Services Agreement shall cap MillerCoors’ liability at 10% of the amount it is paid under the Transition Services Agreement.
1.6    Option Consideration.  The Option is granted in part as consideration for the Settlement Agreement, separate and independent of the Deposit.  The Purchase Price contained herein is not subject to reduction or credit except as set forth in Sections 9.1 and 9.2.
1.7    Inspections.  

(a)    Data Room.  From the Effective Date until the Closing or earlier termination of this Agreement in accordance with its terms, Optionor shall grant and provide access to the Data Room to Pabst and such Authorized Persons as Pabst from time to time requests.  From and following the Effective Date, (1) to the extent not heretofore made available to Pabst and uploaded to the Data Room, Optionor and MillerCoors shall use commercially reasonable efforts to deliver to Pabst the information and documents included in Schedule 1.7(a)(1) (the “Transition Outline”) and the information and documents included in Schedule 1.7(a)(2) (the “Due Diligence List”) in each case via the Data Room and in approximately the timeframes set forth therein (if any, otherwise reasonably promptly upon request), and in each case other than any materials or information which the Transition Outline or the Due Diligence List states will not be provided, and (2) to the extent not heretofore completed, MillerCoors shall use its commercially reasonable efforts to do such acts as the Transition Outline specifically provides in approximately the timeframes set forth therein.  Promptly (and in any case no later than sixty (60) days following the Closure Notice Delivery Date), Optionor shall populate the Data Room with all Contracts, but only to the extent in each case that such items are to the then-current knowledge of Optionor or MillerCoors then in the possession or reasonable control of the Optionor Parties.  Optionor shall reasonably promptly after any request by Pabst therefor from time to time upload to the Data Room such documents as Pabst may reasonably request from time to time with respect to the Purchased Assets, subject to the succeeding provisions of this Section 1.7(a); other than any materials or information, which the Transition Outline and the Due Diligence List states will not be provided.  Notwithstanding anything to the contrary herein, no Optionor Party has any obligation under this Section 1.7(a) to deliver or make available to Pabst any Optionor Party’s internal memoranda, internally-produced reports, financial statements, attorney-client privileged materials, information which would cause a breach of any obligations to a third party (including confidentiality), any competitively sensitive information and/or any pricing 

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or costs.  Except as may be otherwise specifically and expressly set forth in Article 3 below, Optionor Parties make no representations or warranties of any kind regarding the accuracy, thoroughness or completeness of, or conclusions drawn in, the information contained in the Documents.  The Parties agree that, in an effort to minimize or eliminate the risk of any unintended antitrust concerns arising from the exchange of information in the diligence process, upon request of any Party, the Parties will implement reasonable customary precautions to protect information provided in the diligence process (such as, by way of example only, establishing a “clean team” to review certain diligence materials).
(b)    General. Upon execution of this Agreement until the earlier of Closing and termination of this Agreement in accordance with its terms, Pabst and Pabst’s employees, agents, consultants, representatives and contractors (hereinafter collectively referred to as “Pabst’s Agents”) shall have the right to enter upon the Real Property at reasonable times during normal business hours to perform such inspections, testing, and surveys at the Real Property, at Pabst’s sole risk, cost and expense, provided that the times and methods of such inspections and investigations shall, prior to the Closure Notice Delivery Date, be subject to MillerCoors’ prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed. Pabst’s and Pabst’s Agents’ access to the Real Property shall be for the purposes of (a) reviewing such materials in Optionor’s or MillerCoors’ possession regarding the Purchased Assets as may be provided or made available to Pabst at the Real Property by Optionor (or its Affiliates, agents or representatives), (b) inspecting the physical condition of the Real Property and the other Purchased Assets and conducting physical and environmental tests and assessments of the Real Property, including a Phase I and Phase II environmental site assessment or any similar testing of the Real Property, (c) performing a land title survey of the Real Property (the “Survey”), and (d) otherwise conducting Pabst’s diligence review of the Purchased Assets consistent with the terms of this Agreement.  Optionor agrees that Pabst’s and Pabst’s Agents’ access and inspection rights may include the following:  (I) PZR or another third party zoning consultant engaged by Pabst may make contact with the zoning and/or building department of the city and/or county in which the Real Property is located as part of Pabst’s customary due diligence to confirm compliance with applicable zoning and building code requirements, and (II) only after the delivery of an Exercise Notice, Pabst may contact Governmental Entities having jurisdiction over the Real Property and/or Optionor in order to discuss Pabst’s acquisition of the Brewery. Pabst shall not have any contact or conversations with Optionor’s nor MillerCoors’ employees (other than those who are on the transition team for the Transaction) or unions until after the Closure Notice Delivery Date.  Furthermore, with regard to any Phase II environmental testing or any invasive testing of building materials, Pabst shall first provide Optionor with a detailed explanation of the reasons and methods for such test and obtain Optionor’s prior written consent to such testing, which consent shall not be unreasonably conditioned, withheld or delayed.  Furthermore, unless required by law, Pabst agrees not to discuss or disclose the results of such Phase II environmental testing nor the results of the tests on building materials with or to Optionor and shall treat such information as Confidential Information.  For avoidance of doubt, this is an “as is, where is” transaction intended to resolve ongoing disputes between the Parties and, therefore, Optionor shall be under no obligation whatsoever to reduce the Purchase Price further nor to provide Pabst with any credits (except as expressly provided in Section 9) under any circumstances, including but not limited to in the event Pabst’s inspections and/or due diligence investigation of the Purchased Assets reveal any material defects, liabilities or imperfections.  Pabst 

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agrees not to renegotiate the Purchase Price. Provided that Optionor and MillerCoors have complied with Section 4.1 (and, with respect to the following prong (y) only, Section 4.2 below) and subject to the provisions of Section 7.3 and Section 10.2 below, if Pabst (x) discovers any material defect, liabilities or imperfections with the Purchased Assets at any time prior to Closing or (y) is unable to secure all Material Consents or permission to transfer or assume any of Material Agreements and Permits, then Pabst may (i) waive such finding or condition precedent or (ii) as its sole and exclusive remedy, terminate this Agreement and forfeit the Deposit (if the Option has been exercised), without any further recourse against MillerCoors and/or Optionor. 
(c)    Others at the Property; Notice. Pabst agrees that, in exercising its rights under this Section 1.7, Pabst will not, and will cause Pabst’s Agents not to, unreasonably interrupt or interfere with the activities of Optionor’s employees, guests, tenants or other persons or entities occupying or providing service at the Real Property or with respect to its operation of the Brewery. Pabst shall, upon at least three days’ prior notice before entering upon the Real Property for purpose of the permitted activities set forth in this Section 1.7, give Optionor notice of its intention to conduct such activity (which such notice may be given by e-mail to the member of the transition team designated by the officers of MillerCoors) so that Optionor shall have an opportunity to have a representative present during any such inspection. Following delivery of an Exercise Notice, Pabst may (subject to the terms of Section 1.7(b)) discuss the Purchased Assets with any Governmental Entities. 
(d)    Employee Matters.  At any time within one (1) year after the Closure Notice Delivery Date, Pabst may initiate discussions and make offers of employment to any of Optionor’s or MillerCoors’ employees at the Brewery that Pabst would like to retain, provided that such offers of employment are not effective until on or after Closing. In addition, at any time after the Closure Notice Delivery Date, Pabst may initiate discussions with any or all of the unions representing employees at the Brewery, provided that Pabst gives at least 3 days advance notice to MillerCoors.  Pabst may consult with certain of Optionor’s or MillerCoors’ employees regarding the discussions with the unions but whether any employee or representative of Optionor or MillerCoors participates in the union meetings shall be at Pabst sole and absolute discretion.  Optionor and MillerCoors agree to make such personnel, including but not limited to labor relations and human resources employees, reasonably available to Pabst.  Any agreement(s) reached between Pabst and any union may be binding but shall not have an effective date prior to Closing. The Parties will keep each other reasonably informed on an ongoing basis about their respective negotiations with the unions.  Notwithstanding the foregoing, after the Closure Notice Delivery Date or earlier if MillerCoors gives notice to Pabst that it will be issuing notices pursuant to the WARN Laws, Pabst shall be permitted at Pabst's own expense to offer retention incentives to non-union employees it may wish to retain, and such offers may be payable at any time at, before or after Closing, provided Pabst pays all taxes associated with such retention incentives.  Similarly, Pabst shall be permitted to negotiate with the unions retention incentives for certain union employees it may wish to retain, and such offers may be payable by Pabst at any time before or after Closing, as well as all taxes associated therewith. The Parties agree to follow the additional procedures set forth on Schedule 1.7(d) with respect to the Unions. 

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(e)    Restoration. With respect to any damage or alteration of the physical condition of the Real Property (or any other Purchased Assets) caused by Pabst or Pabst’s Agents’ entry upon and on-site inspections of the Real Property (and the Purchased Assets), Pabst shall, at its sole cost and expense, promptly repair and restore the Real Property (or any other Purchased Assets) to the same condition as existed prior to such inspection.  
(f)    Independent Investigation.  During the 120 day period after the Closure Notice Delivery Date, Pabst is to conduct its own independent investigation, review and analysis of the Purchased Assets.  In the event Pabst makes a decision to provide an Exercise Notice, Pabst is making its own decision at such time to exercise the Option or not and to consummate the transactions contemplated hereby, and Pabst acknowledges it is to rely on its own investigation.  
(g)    Indemnification.  Pabst agrees to indemnify, defend and hold Optionor and MillerCoors pursuant to Article 11 free and harmless from any loss, damage, claim, liability, cost or expense (including reasonable attorneys’ fees and costs) caused by Pabst or Pabst’s Agent’s entry upon and inspection of the Real Property, excluding any loss or damage arising from (i) the mere discovery of pre-existing conditions at the Real Property without exacerbation by Pabst or Pabst’s Agents and (ii) Optionor’s (or its agents’, employees’, representatives’ or contractors’) negligence or willful misconduct (the “Pabst Inspection Liabilities”).  

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1.8    Assumed Contracts.  Within sixty (60) days after the Exercise Date, Pabst shall notify Optionor in writing as to which of the Service Contracts and Equipment Leases (which, for the avoidance of doubt, do not include the Master Leases) and all other Contracts which Pabst elects (in its sole discretion) to assume (each of the foregoing, subject to obtaining any third-party consents needed for such assignments, and each of the Lease(s), an “Assumed Contract”).   At Closing, (x) Pabst shall assume all obligations of Optionor accruing after the Closing Date under each Assumed Contract and Pabst shall be responsible for the payment of the assumption fee in respect of each such Assumed Contract (if any); and (y) all other Contracts (herein, collectively, the “Cancelled Contracts”) shall be cancelled by Optionor at Closing, it being agreed that at Closing Optionor shall, at Optionor’s expense and risk, (i) terminate all such Cancelled Contracts (in which case Optionor shall deliver to Pabst at or promptly following Closing copies of such written notices and/or agreements of termination of all such Cancelled Contracts; provided, that Optionor shall not be required to deliver such written notices of termination with regard to such Cancelled Contracts until if, as and when the Closing occurs, at which time Optionor shall deliver such notices of termination (and provide copies of such notices to Pabst) in accordance with the applicable terms and provisions of each such Cancelled Contract) and/or (ii) maintain such Cancelled Contracts at no liability to Pabst.  In the event Pabst provides notice of a Cancelled Contract, Optionor Party may cancel such contract at any time prior to the Closing Date.  Notwithstanding the above, if the Closing occurs, Pabst must assume the Union Contracts as currently written or as amended pursuant to Sections 1.2(a)(iv) and 1.7(d).  Pabst shall not be permitted to cancel or terminate the Union Contracts (as currently written or as amended pursuant to Section 4.6) at or prior to Closing pursuant to this Section 1.8, provided that if a Closing occurs Pabst complies with its obligations to assume the Union Contracts either as written or amended pursuant to Section 4.6.  Notwithstanding the above, if the Closing occurs, Pabst must assume the Leases affecting the Land and Improvements.
1.9    Non-Assignable Assets.  Notwithstanding anything to the contrary in this Agreement, to the extent that the sale, assignment, transfer, conveyance or delivery, or attempted sale, assignment, transfer, conveyance or delivery, to Pabst of any Purchased Asset would result in a violation of applicable law, or would require the consent, authorization, approval or waiver of a Person who is not a Party to this Agreement or an Affiliate of a Party to this Agreement (including any Governmental Entity), and such consent, authorization, approval or waiver shall not have been obtained prior to the Closing, this Agreement shall not constitute a sale, assignment, transfer, conveyance or delivery, or an attempted sale, assignment, transfer, conveyance or delivery, thereof; provided, however, that, subject to the satisfaction or waiver (by the applicable Party for whom such condition was intended to benefit) of the conditions contained in Article VII, the Closing shall occur notwithstanding the foregoing without any adjustment to the Purchase Price on account thereof.  Following the Closing, the Parties shall use commercially reasonable efforts (applying Section 4.2 mutatis mutandis) to obtain any such required consent, authorization, approval or waiver.  Once such consent, authorization, approval or waiver is obtained, Optionor Parties shall sell, assign, transfer, convey and deliver to Pabst the relevant Purchased Asset to which such consent, authorization, approval or waiver relates for no additional consideration.  Applicable sales, transfer and other similar taxes in connection with such sale, assignment, transfer, conveyance or license shall be paid in accordance with Section 12.1.
1.10    Post-Closing Transactions.

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(a)     The Parties agree to the terms and provisions of Schedule 1.10(a). 
(b)     The Parties agree to the terms and provisions of Schedule 1.10(b).  

(c)    Competitors.  For five (5) years after the Closing Date, Pabst shall not sell title to all or a material portion of the Brewery to any of the Prohibited Transferees (as defined on Schedule 1.10(c)) or any Affiliate directly or indirectly controlled by any of the Prohibited Transferees; provided, that, the foregoing restriction shall not apply to a Security Transaction or any “Sale of Pabst”, meaning (i) any change of control of, or direct or indirect sale of, Pabst or its any of its direct or indirect owners (or any other transaction effected at the Pabst level or above), or (ii) any direct or indirect investment in Pabst or any of its direct or indirect owners, or a merger, restructuring or change of control of Pabst or any of its direct parent entities.
(d)    Audit Rights.
		
	(i)
	As Optionor reasonably deems appropriate and at Optionor’s reasonable request, but in no event more often than once per calendar year, and only after Optionor and its independent auditors shall have entered into an appropriate confidentiality agreement with Pabst, the independent auditors of Pabst will examine the relevant books and records of Pabst to verify its compliance with the provisions of this Section 1.10 or that an Excluded Transaction has occurred (“Compliance”).  Pabst’s auditors will promptly thereafter disclose the results of the audit and their work product to the independent auditors of Optionor, provided that the independent auditors of Optionor have entered into the appropriate confidentiality agreements prohibiting them from disclosing the details of such audit to Optionor.

		
	(ii)
	As to any Dispute arising between the Parties pertaining to Compliance,  both parties agree to be bound by any mutual resolution of that Dispute reached by Optionor’s and Pabst’s respective auditors. 

		
	(iii)
	The details of each audit shall remain confidential to the respective auditors and only the ultimate result of the audit will be communicated to Optionor, except that  if  a Dispute regarding Compliance is not mutually resolved by the parties’ respective independent auditors, then Optionor’s auditors may disclose the details of the audit to Optionor to the extent necessary to fully apprise Optionor of the issues underlying the Dispute; provided that in no event shall any competitively sensitive information (including details regarding bills of materials) be disclosed to Optionor for any reason whatsoever.  Notwithstanding anything to the contrary in the Agreement, (i) neither Pabst nor any of its Affiliates shall be required to transfer or make available to MillerCoors any tax returns or information with respect to Taxes of Pabst or any of its Affiliates, and (ii) Optionor’s 

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auditors may not disclose to any Person any tax returns or information with respect to Taxes of Pabst or any of its Affiliates; provided that Optionor’s auditors may disclose to MillerCoors information with respect to Taxes of Pabst or its Affiliates solely and specifically relating to the consideration received by Pabst in exchange for the Pits in a Qualifying Transaction (other than any Excluded Transaction).
		
	(iv)
	Thereafter, at either Party’s request, the Dispute will be submitted to the Independent Accountants as set forth in Section 12.5.  Optionor and Pabst hereby agree to be bound by the decision of such third party accounting firm. Such third party accounting firm may be required by either party to execute an appropriate confidentiality agreement.  

		
	(v)
	The cost of the original audit conducted by Optionor shall be borne by Optionor; provided that Pabst shall reimburse Optionor the amount of the fee up to and including the net amount found by the auditor to be due to Optionor pursuant to this Section 1.10(d) and Section 12.5, as applicable. The Independent Accountants shall determine the percentage of its fees and expenses to be paid by Pabst and the Optionor Parties, with such fees and expenses being borne in inverse proportion to the degree to which the accountants accepted the positions of the respective parties. Payment of any such reimbursements will be due within eleven (11) Business Days of the Independent Accountants’ final determination.

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1.11    Further Acknowledgements.  Pabst acknowledges that the B3 line included in the Purchased Assets was decommissioned in 2008.  Pabst acknowledges that the B5 line is currently decommissioned and is only capable of running a grenade shaped bottle.  
1.12    Asset List and Hardware and Software List.  The asset list attached hereto as Schedule 1.12 (the “Asset List”) includes certain key equipment used in the operation of the Brewery according to various records relied upon by Optionor over the last 5 years at differing times, and the Asset List is intended as a general matter to detail the Equipment to be included in the Purchased Assets at Closing, it being agreed that property ancillary to such Equipment needed to make such Equipment functional (for example, piping, valves and the like) shall be included in the sale to the extent not specifically excluded herein.  The parties acknowledge that the Asset List and Schedule 1.2(a)(iii) shall be updated by Optionor within sixty (60) days from the Effective Date (and Schedule 1.12 and Schedule 1.2(a)(iii) shall thereby be deemed updated accordingly) by delivery of a written notice to Pabst, (1) in the case of the Asset List,  containing a more detailed list, with additions or deletions to the Equipment that have occurred in the ordinary course prior to the Effective Date and (2) in the case of Schedule 1.2(a)(iii), in good faith populating columns J and K therein (it being understood that the analysis contained in such columns shall be for reference only and that Pabst will conduct its own review as to the transferability of items referenced in Schedule 1.2(a)(iii)).  
1.13    Possible Transition of Coors’ Products. On the Exercise Date and concurrent with the Exercise Notice, Pabst shall notify MillerCoors as to whether it intends to produce, package and ship Pabst products from the Brewery immediately after the Closing Date.  If Pabst provides notice that it will not produce, package and ship Pabst products from the Brewery immediately after the Closing Date (a “Notice of Intent to Transition”), (i) MillerCoors shall prior to the Closing Date transition the production of Pabst products produced at the Brewery to MillerCoors’ other facility or facilities (such as the Golden, Colorado brewery), which transition and production shall be governed by the Brewing Agreement and (ii) Pabst agrees to the use of Coors’ yeast with respect to any Pabst products brewed in the Golden Colorado Brewery.  To the extent Pabst provides notice that it will produce, package and ship Pabst products from the Brewery immediately after the Closing Date, Pabst agrees that, upon Closing and notwithstanding anything contained in the parties’ Brewing Agreement to the contrary, Optionor or its Affiliates shall no longer be required to brew the Pabst products made at the Brewery, and Optionor and its Affiliates shall not be required to move the production of Pabst products which are made at the Brewery to other locations within MillerCoors and its affiliates’ other breweries.   To the extent that Pabst provides a Notice of Intent to Transition and subsequently determines to produce, package and ship Pabst products from the Brewery, Pabst shall provide notice thereof to MillerCoors pursuant to the terms of and in the time periods required by the Brewing Agreement and Pabst and MillerCoors shall transition the volume subject to such notice from MillerCoors’ facility or facilities to the Brewery in accordance with the terms of the Brewing Agreement.  This Section 1.13 shall survive the Closing.  
2.    REPRESENTATIONS AND WARRANTIES OF EACH PARTY

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2.1    As of the Effective Date, as of the Exercise Date and as of the Closing, each of Optionor and MillerCoors represent to Pabst, and Pabst represents to Optionor:
(a)    Due Organization and Good Standing.  Such Party is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. 
(b)    Authority. Such Party has all requisite power and authority to enter into and perform its obligations hereunder and under each of the Transition Services Agreement (if applicable) and those agreements and instruments to be (if the Exercise Notice is delivered in accordance with this Agreement) entered into or delivered at Closing (collectively, the “Ancillary Agreements”) and has all requisite corporate or similar power and authority and has taken all organizational action necessary in order to execute, deliver and perform its obligations under this Agreement and each of the Ancillary Agreements. This Agreement has been, and (if applicable) each of the Ancillary Agreements will be at Closing, duly executed and delivered by such Party and, when executed and delivered by the other Parties, will constitute a valid and binding agreement of such Party, enforceable against such Party in accordance with its terms, except as limited by bankruptcy, receivership, insolvency, reorganization, moratorium, or other such laws concerning the rights of creditor. 
(c)    Brokers.  Such Party and its agents have incurred no obligation or liability, contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other similar payment in connection with this Agreement.
(d)    Not a Foreign Person.  Such Party is not a “foreign person” or “foreign corporation” as those terms are defined in Section 1445 of the Internal Revenue Code of 1986, as amended (and the regulations promulgated thereunder).
(e)    OFAC.  Such Party is not, nor, to such Party’s knowledge, are any of its Affiliates, nor any of their respective partners, members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents, is a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action.
2.2    Pabst represents and warrants to the Optionor Parties that, as of the Representation Date, as of the Closing, and immediately after giving effect to the transactions contemplated hereby: (a) Pabst is and shall be solvent and able to pay its debts as they become due; (b) Pabst owns assets that have a fair market value greater than the amounts required to pay its debts (including a reasonable estimate of the amount of all contingent liabilities); (c) Pabst has adequate capital to carry on its business; (d) no transfer of property is being made by Pabst and no obligation is being incurred by Pabst in connection with the transactions contemplated hereby with the intent to hinder, delay or defraud either present or future creditors of Pabst or the Optionor Parties; and 

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(e) in connection with the transactions contemplated hereby.  Pabst has not incurred, nor does Pabst plan to incur, debts beyond its ability to pay as they become absolute and matured.
3.    ADDITIONAL REPRESENTATIONS AND WARRANTIES. 
3.1    Optionor and MillerCoors hereby represent and warrant to Pabst as of the date that is sixty (60) days following the Effective Date (the “Representation Date), as follows: 
(a)    Authority; Qualification. Optionor (i) has all requisite corporate or similar power and authority to own the Purchased Assets and operate the Purchased Assets (including the Brewery) as such operations are presently conducted, and (ii) is qualified to do business and is in good standing as a foreign legal entity in each jurisdiction where such ownership and operation of the Purchased Assets requires such qualification. 
(b)    Governmental Filings; No Violations.
		
	(i)
	Other than the filings and/or notices under the HSR Act and consents, notices and filings set forth on Schedule 3.1(b)(i), no notices, reports or other filings are required to be made by Optionor or any of its Affiliates with, nor are any consents, registrations, approvals, permits or authorizations required to be obtained by Optionor or any other Optionor Party from, any Governmental Entity, in connection with the execution, delivery and performance of this Agreement and the Ancillary Agreements by Optionor and the consummation of the transactions contemplated hereby and thereby, including the purchase and sale of the Purchased Assets (the “Transaction”), except those that the failure to make or obtain would not, individually or in the aggregate, reasonably be likely to prevent, materially delay or materially impair the consummation of the Transaction.

		
	(ii)
	Except with respect to any Cancelled Contracts and except as set forth on Schedule 3.1(b)(ii), the execution, delivery and performance by Optionor of this Agreement and the Ancillary Agreements, and the consummation of the Transaction, will not conflict with or result in any violation or default as of the Closing Date (with or without notice, lapse of time, or both) under, or give rise to a right of termination or loss of rights or result in the creation of any Lien on, over, upon or in respect of any of the Purchased Assets under any provision of (A) the governing documents of Optionor or MillerCoors, (B) any material contract, note, mortgage, indenture, arrangement or other obligation binding upon Optionor or MillerCoors related to the Purchased Assets.

(c)    Absence of Certain Changes.  Except as set forth on Schedule 3.1(c), from November 28, 2018 until the Closure Notice Delivery Date, Optionor and the other Optionor Parties 

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have operated (or did operate) the Brewery in the ordinary course, consistent with past practices in all material respects. 
(d)    Litigation. Except as set forth on Schedule 3.1(d), there are no material civil, criminal or administrative actions, suits, demands, claims, hearings, arbitrations, investigations or other proceedings pending or for which Optionor Parties have received notice in the last two years or to Optionor's Knowledge threatened in the last two years against Optionor or any of the other Optionor Parties related to the Purchased Assets that would, or would be reasonably likely to have or cause material liability or a material adverse impact on the Purchased Assets or on the operation of the Brewery. Except as set forth on Schedule 3.1(d), neither Optionor nor any of the other Optionor Parties is a party to or subject to the provisions of any Order which has had, or would, individually or in the aggregate, reasonably be likely to have or cause a material liability or otherwise have an material adverse impact on the Purchased Assets or on the operation of the Brewery.  For clarity, the Regional Groundwater Plume need not be disclosed on Schedule 3.1(d) as no claim has been made that any Optionor Party is a potentially responsible party for such action.  
(e)    Compliance with Laws. Except as set forth on Schedule 3.1(e), the operation of the Brewery and the other Purchased Assets has not in the past two (2) years been, and is not being, conducted in material violation of any Laws. In the last two years, no investigation or review by any Governmental Entity with respect to Optionor or any of the Optionor Parties is pending for which Optionor or MillerCoors has received notice or, to Optionor’s Knowledge, threatened, in each case in connection with any of the Purchased Assets. Except as set forth on Schedule 3.1(e), in the prior two years, Optionor has not received any notice or communication of any material noncompliance in connection with any of the Purchased Assets with any Law that has not been cured. Except as set forth on Schedule 3.1(e), during the prior two years, Optionor obtained and is in material compliance with all permits, licenses, certifications, approvals, registrations, consents, authorizations, franchises, variances, exemptions and orders issued or granted by any Governmental Entity necessary to conduct the business of the Brewery as presently conducted and to own and operate the Purchased Assets as currently owned and operated.  Except as set forth on Schedule 3.1(e), all requisite material certificates of occupancy and other Permits or approvals required with respect to the Improvements and the occupancy and current use of the Improvements and the other Purchased Assets have been obtained and are currently in effect.  
(f)    Documents; Assumed Contracts.  Except as set forth on Schedule 3.1(f) and assuming receipt of any consents affecting any Assumed Contract and required to be obtained in connection with the Transaction, each Assumed Contract is valid, binding and enforceable on Optionor, and, to Optionor’s Knowledge, each other party thereto, and is in full force and effect. Except as set forth on Schedule 3.1(f), to Optionor’s Knowledge there is no uncured material violation of, or uncured default under, any Assumed Contract by Optionor or any of its Affiliates, no material default by the counterparty under any Assumed Contract, and no event has occurred that, with the lapse of time or the giving of notice or both, would constitute a default thereunder by Optionor or any of its Affiliates.  For the avoidance of doubt, this representation shall not be applicable with respect to any Cancelled Contracts.
(g)    Title; Sufficiency of Assets. 

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	(i)
	Except as set forth on Schedule 3.1(g)(i), Optionor is the sole owner of the Real Property and has, and if the Exercise Notice is timely delivered and the Closing occurs, Optionor shall transfer to Pabst, good, indefeasible and marketable fee simple title to the Real Property, free and clear of all Liens other than Permitted Liens. 

		
	(ii)
	Other than the rights of Pabst pursuant to this Agreement, Optionor has not granted nor are there any preemptive or other outstanding options, warrants, purchase rights, rights of first offer or first negotiation, rights of first refusal or any similar rights in favor of any other party to purchase the Real Property (or any portion thereof) or that require any Optionor Party to sell or offer the owned property included within the Purchased Assets or any portion thereof (nor, to Optionor’s Knowledge, the leased property included in the Purchased Assets).  

		
	(iii)
	Optionor has valid and marketable title to all owned items of personal property and equipment located on or used in connection with the Real Property or other Purchased Assets (collectively, the “Personal Property”), free and clear of all Liens other than Permitted Liens and Mandatory Cure Items.  Other than the rights of Pabst pursuant to this Agreement, Optionor has not granted nor are there any preemptive or other outstanding options, warrants, purchase rights, rights of first offer or first negotiation, rights of first refusal or any similar rights in favor of any other party to purchase any of the Purchased Assets or any portion thereof (it being understood that this representation does not apply to the Real Property, which is not addressed in this paragraph (g)(iii)) or that require any Optionor Party to sell or offer the Purchased Assets or any portion thereof (other than the Real Property, which is not addressed in this paragraph (g)(iii)).  

		
	(iv)
	The Purchased Assets include such land, equipment and personal property as are necessary for Brewery operations to continue with respect to Pabst's products in materially the same manner following the Closing as such operations have been conducted in the ordinary course of business as of the Effective Date (other than any asset specifically excluded from the Purchased Assets, including without limitation any Excluded Software, Excluded Computer Equipment, and rights under any non-assignable contracts, rights under any contracts for which consents have not been obtained, the Cancelled Contracts and Master Leases, each of which shall not be transferred at Closing, and the Leased Assets leased pursuant to any of the foregoing).

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	(v)
	Except as set forth on Schedule 3.1(g)(v), all work done for Optionor or its Affiliates or materials furnished to Optionor or its Affiliates with respect to any Real Property have been paid for in full or will be paid in full and discharged by the Closing Date.

		
	(vi)
	Hardware and Software.  To the Optionor's Knowledge, Schedule 3.1(g)(vi) identifies all material categories of hardware and software and all material software, in each case licensed by Optionor or MillerCoors that are considered materially necessary for the operation of the Brewery.

(h)    Insurance.  Schedule 3.1(h) lists the current fire and casualty, property, and general insurance policies maintained by Optionor or its Affiliates with respect to the Purchased Assets (“Insurance Policies”) and the carriers with respect to each such policy, and (y) each Insurance Policy is in full force and effect and all applicable premiums due with respect to all Insurance Policies have been paid. Except as set forth on Schedule 3.1(h), to Optionor’s Knowledge, neither Optionor or MillerCoors has received any written notice in the last 12 months from any insurance company requesting or demanding the performance of any material work or alteration with respect to any Purchased Asset that has not been satisfied. 
(i)    Rights. Other than as set forth on Schedule 3.1(i), there are no written or oral leases, subleases, licenses, concessions, occupancy agreements or other contracts or arrangements granting to any Person the current or future right of use, occupancy or possession of the Real Property or any portion thereof, and there is no Person (other than Optionor) in possession of the Real Property (or any portion thereof).
(j)    Condemnation. Except as set forth on Schedule 3.1(j), Optionor has received no written notice of any pending condemnation, eminent domain, annexation or other similar proceedings affecting the Real Property in the last three (3) years, or, to Optionor’s Knowledge, at any earlier time, and, to Optionor’s Knowledge, no such proceedings are currently threatened.  
(k)    Environmental Matters.  Except as set forth on Schedule 3.1(k): (i) during the prior two years, and to Optionor’s Knowledge, prior thereto, no Optionor Party has received any written notice alleging any material violation of or any material liability under Environmental Laws with respect to the Real Property; (ii) to Optionor’s Knowledge, no Optionor Party (or agent or employee of any Optionor Party) has disposed of or released any Hazardous Material on, in or under the Real Property in violation of or as would reasonably be expected to require remediation under Environmental Laws (except in de minimis quantities that are typical of facility operations and are not reasonably expected to give rise to any material liability under Environmental Laws); (iii) except as set forth on Schedule 3.1(k), to Optionor’s Knowledge, no Hazardous Materials have been disposed of or released at on, in or under the Real Property in violation of or as would reasonably be expected to require remediation under Environmental Laws (except in de minimis quantities that are typical of facility operations and are not reasonably expected to give rise to any material liability under Environmental Laws); (iv), Optionor has provided to Pabst all environmental studies and site assessments with respect to the Real Property conducted during the prior two years, and to Optionor's Knowledge the periods prior thereto; and (v) Optionor has provided Pabst with all air audits and 

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other material audits conducted within the prior 2 years.  For clarity, Optionor is making no representation with respect to the Regional Groundwater Plume other than that no Optionor Party has disposed of any Hazardous Materials which caused or contributed to the Regional Groundwater Plume.
(l)    IRCA. Except as set forth on Schedule 3.1(l), Optionor and MillerCoors maintain I-9 Forms for all employees at the Brewery that comply in all material respects with the Immigration Reform & Control Act (IRCA).
(m)    Benefits Plans.
		
	(i)
	Schedule 3.1(m)(i) sets forth a list of each benefit plan that is a Purchased Asset pursuant to Section 1.2(a)(ix), each of which is a “multiemployer plan” within the meaning of Section 3(37) of ERISA to which the Optionor or its ERISA Affiliates contributes with respect to employees at the Brewery (the “Multiemployer Plans”, and together with the Kaiser Plan, the “Benefits Plans”).  For purposes of this Agreement, “ERISA Affiliate” means all employers (whether or not incorporated) that would be treated together with Optionor or its Affiliates as a “single employer” within the meaning of Section 414 of the Code.

		
	(ii)
	Optionor or its Affiliates have made available to Pabst, to the extent applicable, accurate and complete copies of (1) the Kaiser Plan insurance contract, and (2) the most recent summary plan description together with any summaries of all material modifications thereto.

		
	(iii)
	Except as set forth on Schedule 3.1(m)(iii) with respect to (1) the Kaiser Plan and (2) to Optionor’s Knowledge, the Multiemployer Plans, (A) such plan has been established, operated and administered in all material respects in compliance with its terms and applicable Laws, including, without limitation, ERISA and the Code, (B) all contributions or other amounts payable by Optionor with respect to such plan in respect of current or prior plan years have been paid or accrued in accordance with generally accepted accounting principles, and (3) there are no pending or, to Optionor’s Knowledge, threatened claims (other than routine claims for benefits) or proceedings by a Governmental Entity by, on behalf of or against such plan which could reasonably be expected to result in any Liability to Pabst.

(n)    Documents.  To Optionor’s Knowledge, the copies of all Assumed Contracts which Optionor has provided to Pabst via the Data Room are complete copies of all Documents in Optionor’s or any Optionor Party’s possession. 

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(o)     Asset List. The Asset List is the asset list used by MillerCoors for its internal purposes with respect to the Brewery, and the information set forth in Section 1.12 is true in all material respects.  

3.2     Union Contracts.      Optionor and MillerCoors hereby represent and warrant to Pabst that, to Optionor’s Knowledge, as of the Effective Date, the copies of all collective bargaining agreements, and side letters and memorandums of understanding with respect thereto, which Optionor has provided to Pabst via the Data Room are complete copies of all collective bargaining agreements, and side letters and memorandums of understanding with respect thereto.   For purposes of Sections 3.1(m) and 3.2 only, Optionor’s Knowledge shall mean the actual knowledge of Steven Avalos (Director of Labor Relations).   
3.3    No Other Representations and Warranties.  Except for the representations and warranties set forth in Article II and III, the Optionor Parties make no other express or implied warranties, whether written or oral, on behalf of any Optionor Party, including any representations regarding the accuracy or completeness of any information regarding the Purchased Assets furnished or made available to Pabst in the Data Room (nor regarding any information, documents or materials in any other form or any other representation or warranty arising from statute or otherwise in law).
4.    COVENANTS
4.1    Pre-Closing Operating Covenant.  From and after the Effective Date until the earlier of the Closing or the termination of this Agreement in accordance with its terms: 
(a)    Optionor shall not (i) sell, lease, license, transfer, grant an option, warrant or purchase right with respect to or dispose of Purchased Assets or any portion thereof or directly or indirectly market the Purchased Assets or any portion thereof or make or solicit any offer with respect to any of the foregoing, nor (ii) encumber or pledge (unless such pledge or encumbrance shall be, and is, removed and cleared from title at or prior to the Closing at Optionor’s sole cost and expense) Purchased Assets or any portion thereof, in each case with a fair market value in excess of One Hundred Thousand Dollars ($100,000) in any one instance, or Five Hundred Thousand Dollars ($500,000) collectively (the “Fundamental Covenant”);
(b)    Optionor will continue to operate, manage and maintain the Brewery and the other Purchased Assets in the ordinary course of business until the Closure Notice Delivery Date. From the Closure Notice Delivery Date until the Closing or earlier termination of this Agreement in accordance with its terms, Optionor shall maintain the machinery and equipment included within the Purchased Assets to OEM standards and in accordance with its practices prior to the Closure Notice Delivery Date, and shall maintain the Improvements and the other Purchased Assets in material accordance with its past practices prior to delivery of the Closure Notice.  Optionor shall use commercially reasonable efforts to operate and manage the Brewery and other Purchased Assets to allow for the transition of the Brewery’s operations to Pabst (it being understood that Optionor will likely not be able to maintain its current levels of employment or operations in light of the Closure Notice); provided further that Pabst acknowledges that certain contracts and licenses used to operate the Brewery may not be transferred to Pabst under the terms of this Agreement. Notwithstanding the foregoing, Optionor shall not be required to make any capital expenditures in 

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excess of $10,000 individually and $50,000 in the aggregate by operation of any provision of this Section 4.1(b);
(c)    The Optionor Parties shall not materially change the use or purpose of the Purchased Assets, except at the request of Pabst;
(d)    Subject to Section 4.1(a) above, Optionor shall not remove any Purchased Assets from the Real Property, except as is reasonably needed for repair or replacement thereof or with respect to any Leased Assets under the terms of the applicable lease agreement or at Pabst's request; provided that, for the avoidance of doubt, MRO Inventory that are consumables may be used and disposed of in the ordinary course of business.  Any material Purchased Assets replaced after the Effective Date shall be promptly installed and shall be of substantially similar quality to the Purchased Assets replaced (subject to Section 4.1(b) above);
(e)    Optionor shall maintain insurance coverages in kind, levels, and amounts on all of the Purchased Assets in such amounts as Optionor reasonably deems appropriate for the operations of its breweries generally, and in any case not materially different than the Insurance Policies;
(f)    Optionor will not, without the prior written consent of Pabst, ‎which consents will not be unreasonably withheld, conditioned or delayed (and which, after the Exercise Notice is delivered, may be withheld in Pabst’s sole and absolute discretion), enter into, amend, modify or supplement any lease or license for space in, on or under the Real Property or lease or license any of the Purchased Assets to any person or entity which would remain in effect after the Closing Date; 
(g)    Optionor shall not make or agree to make any change to the zoning or other entitlements of the Real Property or any portion thereof or approve of the terms of any restrictive covenant affecting the Real Property or any portion thereof, including any variance with respect to a special use permit, nor shall Optionor subdivide the Real Property or any portion thereof;
(h)    Optionor shall not suffer, enter into or allow any Lien on, over or in respect of any of the Purchased Assets (or any portion thereof) in a manner which would  hinder the current use or operation of the Purchased Assets (or any portion thereof) and would survive the Closing, unless such Lien can and will be removed by Optionor at or prior to Closing (it being understood that any such item will be a Mandatory Cure Item);
(i)    If to Optionor’s Knowledge during the pendency of this Agreement any of Optionor’s representations or warranties would be untrue in any material respect if remade (whether at the time Optionor so becomes aware or at the Closing Date), Optionor shall promptly deliver written notice to Pabst disclosing such matter and updating (or producing) the applicable representation schedule (each, a “Representation Schedule Update”);
(j)    Optionor shall not take or permit to be taken (or agree to take or permit to be taken) any action that would frustrate the purpose of this Agreement; 

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(k)    Optionor shall on the Effective Date deliver to Pabst Optionor’s original executed and notarized signature page to the Option Memorandum, dated as of the Effective Date; 
(l)    Neither MillerCoors nor Optionor shall, except as required pursuant to the terms of any Benefit Plan in effect as of the date hereof, in accordance with the terms of this Agreement (including negotiations and effects bargaining contemplated in Section 1.7(d) herein), or as otherwise required by applicable Law, (A) increase in any manner the severance or termination pay of any Brewery employee in a manner that could be binding on Pabst following the Closing, or (B) become a party to, establish, adopt, amend (except as required pursuant to the terms of the applicable Benefit Plan), commence participation in or terminate any Benefit Plan that will be a Purchased Asset or any arrangement that would have been a Benefit Plan that will be a Purchased Asset had it been entered into prior to this Agreement; and 
(m)    No Optionor Party shall recognize any union not currently representing Brewery employees, enter into any neutrality or card check agreement covering any Brewery employees, or expand or alter the scope of any existing bargaining unit without Pabst’s prior written consent.   
4.2    Material Consents.  From and after the Exercise Date until the earlier of Closing or the termination of this Agreement in accordance with its terms, and subject to the terms of this Agreement, the Parties hereby agree to use their commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to consummate the transactions contemplated by this Agreement as promptly as practicable and to cooperate with each other in connection with the foregoing; provided, for the avoidance of doubt, that Pabst’s election whether or not to deliver the Exercise Notice shall be made in Pabst’s sole discretion. Promptly following receipt of the Exercise Notice (or, if Pabst requests, promptly following the Closure Notice Delivery Date) until the earlier of the Closing or the termination of this Agreement in accordance with its terms, Pabst shall use commercially reasonable efforts in an effort to obtain any Permits (including, without limitation, any TTB Licenses) and Contracts required in order for Pabst to be able to operate, manage and maintain the Brewery and the other Purchased Assets as operated, managed and maintained by Optionor in the ordinary course of business as of the Effective Date (such Permits and Contracts, the “Material Agreements and Permits”) and to cause all Governmental Entities and other third parties to deliver such consents as are needed for the transfer, assignment, novation or re-issuance of any Material Agreements and Permits (the “Material Consents”) (including, without limitation, the consent to Pabst’s assumption of the Water Supply Agreement).  MillerCoors and Optionor agree, at no cost, to cooperate with Pabst’s effort to obtain the Material Consents, using their commercially reasonable efforts, which shall not include payment of any fees or costs by MillerCoors or any of its Affiliates.  For the avoidance of doubt, the failure of any Governmental Entity or other third party to grant any consent contemplated herein shall not constitute a default by any Party, provided such Party used the requisite efforts and requisite cooperation and assistance to obtain such consent and without prejudice to Article 7 below.  Pabst shall be solely responsible for any and all fees payable to Governmental Entities and any other parties to Material Agreements and Permits in connection with the transfer, assignment, novation or re-issuance of any Material Agreements and Permits.  

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4.3    Regulatory Filings/Approvals
(a)    Submission of Filings and Notices.
		
	(i)
	Exchanging Information.  Optionor and Pabst shall each, upon request by the other, furnish the other (or if requested, its outside counsel) with all information concerning itself, its Affiliates, and their respective directors, officers and stockholders and such other matters as may be reasonably necessary or advisable in connection with any statement, filing, notice or application made by or on behalf of Pabst, Optionor, MillerCoors or any of their respective Affiliates to any Governmental Entity in connection with the Transaction.

		
	(ii)
	Initial Submissions.  Optionor and Pabst shall prepare and file as promptly as reasonably practicable all documentation to effect all necessary notices, reports and other filings and to obtain as promptly as practicable all consents, clearances, registrations, approvals, permits and authorizations necessary or advisable to be obtained from any Governmental Entity in order to consummate the Transaction.  Without limiting the foregoing, each of Optionor and Pabst shall cause Molson Coors Beverage Company and Blue Ribbon Intermediate Holdings LLC to make its respective filing pursuant to the HSR Act with respect to the Transaction as promptly as reasonably practicable after the Exercise Date and no later than twenty (20) Business Days after the Exercise Date.  Whether or not the Transaction is consummated, Pabst shall be responsible for all fees and payments to any Governmental Entity (including filing fees) incurred in order to obtain any consent, clearance, registration, approval, permit or authorization or any expiration or termination or a waiting period.

		
	(iii)
	Subsequent Submissions.  Optionor and Pabst shall promptly provide (or cause their respective Affiliates to provide) all non-privileged information and documents requested by any Governmental Entity to the extent necessary or advisable to obtain as promptly as practicable all consents, registrations, approvals, permits and authorizations necessary or advisable to be obtained from such Governmental Entity in order to consummate the Transaction.

		
	(iv)
	Conduct of Interactions with Governmental Entities.  Subject to applicable Laws relating to the exchange of information, outside counsel for Pabst and Optionor shall have the right to review in advance and, to the extent practicable, the Parties will consult with the other on and consider in good faith the views of the other in connection with, all the information relating to Pabst or Optionor, as the case may be, and any of their respective Affiliates, that appears 

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in any filing made with, or written materials submitted to, any Governmental Entity in connection with the Transaction.  In exercising the foregoing rights, Optionor and Pabst shall act reasonably and as promptly as practicable. 
(b)    Remedies.  Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement, including Section 4.4(a), shall require Pabst or any of its Affiliates (except where, following a change of control of Pabst, such action or inaction would not materially impair the benefits or advantages Pabst or any of its Affiliates expects to receive from the transactions contemplated hereby or give rise to a material adverse effect on the business plan or business strategy of Pabst or any of its Affiliates) to: (a) proffer to, agree to, or to sell, divest, lease, license, transfer, dispose of or otherwise encumber or hold separate, before or after the Closing, any material assets of Pabst (including, for the avoidance of doubt, any of the Purchased Assets) or any of its Affiliates (or to consent thereto); (b) proffer to, agree to or implement any changes in (including through a licensing arrangement), or any restrictions on or other impairment of, Pabst’s ability to use, own, operate or take any other actions with respect to any material assets of Pabst or any of its Affiliates or the operation of the Brewery; or (c) take any action to overturn, defend against or oppose any action by any Governmental Entity to prohibit the Transaction or prevent consummation of the Transaction.
4.4    Supplier Lists. Within 30 days following the Effective Date, (i) Optionor shall provide Pabst with a list of all utility providers and suppliers for Pabst’s products brewed at the Brewery (the “Supplier List”) and (ii)  MillerCoors will provide Pabst with complete copies of all of the formulas and recipes for Pabst’s beer brewed at the Brewery (which, for the avoidance of doubt, any modifications, changes to or improvements to formulas, recipes and related know-how of Pabst shall be considered Purchased Assets for all purposes of this Agreement).  In the event of any conflict between this Section 4.4 and any other provision of this Agreement, including the provisions of Section 1.2, this Section 4.4 shall govern. 
4.5    Software Configurations. Promptly upon the request of Pabst, Optionor, MillerCoors, or any affiliate, agent or representative of Optionor or MillerCoors (1) shall provide (for no additional consideration) all required consents from Optionor, MillerCoors, or any Affiliate, for Pabst to obtain and use any specific configurations or customized environments of third-party software used at the Brewery for the production of Pabst beer, and (2) shall use commercially reasonable efforts to make introductions to third-party vendors for the software set forth on Schedule 1.2(a)(iii) as needed to make available to Pabst (at Pabst’s sole expense) any such configurations or customized environments to use at the Brewery in substantially the same manner as currently used (provided, for the avoidance of doubt, that neither Optionor nor MillerCoors shall have any obligation to cause any third-party vendor to make available to Pabst such configurations or customized environments); provided it does not involve MillerCoors’ or its Affiliates’ owned intellectual property. The covenant required in this Section 4.5 shall survive the Closing for twelve (12) months.
4.6    Pabst Notice to MillerCoors. The parties agree to the terms and provisions set forth in Schedule 4.6.

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4.7    Estoppels.  At Pabst’s request, Optionor shall deliver estoppel certificates or certifications in the form required or permitted by any Lease(s) or contract or agreement counterparties (or as otherwise reasonably approved by Pabst if no such form exists) to any tenant(s) under the Lease(s) and/or contract or agreement counterparties and shall use commercially reasonable efforts to obtain such tenant(s)’ or contract counterparties’ execution of such estoppels and deliver them to Pabst; provided, for the avoidance of doubt, that the delivery of any tenant estoppel(s) shall not be a condition precedent to Closing or (for the avoidance of doubt, without prejudice to Section 9.1(d)), the basis for a Purchase Price reduction. 
4.8     Legal Description.  If a Closing occurs, MillerCoors and Optionor covenant to convey to Pabst at the Closing pursuant to the Deed all real property that any Optionor Party owns and which is located at or in the near vicinity of 81 East First Street and 15801 First Street in Irwindale, California, including without limitation all real property owned by any Optionor Party designated by the following tax parcel identification numbers: APN 8533-011-052, 8533-009-023, 8533-009-024 and 8533-009-021.  In furtherance of the foregoing, and to account for any changes reasonably requested by Pabst, MillerCoors and Optionor agree, at Pabst’s request, to cooperate with Pabst prior to the Closing to update the legal description attached as Exhibit A hereto and intended to be included in the Deed. Further, the real property excepted out of the legal description and described on the last two pages of Exhibit A hereto shall only be so excepted from the real property conveyed to Pabst at Closing to the extent that such real property (1) was actually conveyed to Metro Gold Line Foothill Construction Authority pursuant to the Condemnation Judgment and, (2) for the avoidance of doubt, is not as of the Effective Date owned by any Optionor Party.

5.    DAMAGE OR CONDEMNATION
5.1    Damage or Condemnation.  All risk of loss resulting from any fire, flood or any other casualty before the Closing shall remain with Optionor.  If, before the Closing, any Purchased Assets shall be materially damaged, or if the Purchased Assets or any material portion thereof shall become the subject of any proceedings, judicial, administrative or otherwise, with respect to the taking by eminent domain or condemnation, Optionor shall notify Pabst in writing in reasonable detail within five (5) Business Days of the damage or taking, and, if Pabst has prior to its receipt of such notice delivered the Exercise Notice to Optionor, then Pabst may terminate this Agreement by written notice to Optionor given within ten (10) Business Days after Pabst receives written notice from Optionor of the damage or taking, in which event Escrow Agent shall deliver the Deposit to Pabst.  If the Closing Date is within the aforesaid 10-Business Day period, then Closing shall be extended to the next Business Day following the end of said 10-Business Day period.  If no such election to terminate is made, and in any event if the taking or damage is not material (as applicable), this Agreement shall remain in full force and effect and, upon the Closing, Optionor shall assign, transfer and set over to Pabst all of the right, title and interest of Optionor in and to any awards that have been or that have or may thereafter be made for such taking, and Optionor shall assign, transfer and set over to Pabst any insurance proceeds that may thereafter be made for such damage or destruction, less any amounts reasonably and actually expended by Optionor to collect any such insurance proceeds or to remedy any unsafe conditions at the Real Property or, to the extent reasonably approved by Pabst (it being understood that it would not be considered “reasonable” for Pabst not to approve any repair or restoration work that any Optionor is required by applicable law) 

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to repair or restore any damage provided and the Purchase Price allocated to the Property will be credited by the amount of the deductible applicable to such insurance payout to the extent not paid or satisfied as of the Closing.  For the purposes of this paragraph, the phrases “material damage”, “materially damaged”, “material portion”, and “material taking” shall mean, damage to, or one or more takings of, all or any portion of the Purchased Assets, (a) exceeding in the cost of repair and/or value of taken property $5,000,000 in the aggregate, (b) not covered by insurance, unless Optionor agrees to credit the Purchase Price for the repair cost of such uninsured casualty not expended by Optionor prior to Closing or (c) adversely affecting access to the Real Property or Brewery operations.  
6.    ESCROW PROVISIONS
6.1    Deposit.  Not later than two (2) Business Days after the Exercise Date, Pabst shall deposit in escrow with First American Title Insurance Company and, in such capacity, the “Escrow Agent”; and in its capacity as issuer of the Title Policy, the “Title Company”), in immediately available federal funds, the sum of Ten Million Dollars ($10,000,000) (including interest thereon, the “Deposit”).  In the event that Pabst fails to timely deposit the Deposit with the Escrow Agent, this Agreement shall terminate and be of no further force and effect except for such obligations as expressly survive the termination of this Agreement.  At Closing, the Deposit shall be applied to the Purchase Price.  Otherwise, the Deposit shall be delivered to the Party entitled to receive the Deposit in accordance with the provisions of this Article 6.  The Party that receives the benefit of the Deposit shall be responsible for any income taxes on the interest portion (if any) of the Deposit. 
6.2    Investment and Use of Funds.  The Escrow Agent shall invest the Deposit in government insured interest‐bearing accounts satisfactory to Pabst and Optionor, shall not commingle the Deposit with any funds of the Escrow Agent or others, and shall promptly provide Pabst and Optionor with confirmation of the investments made.  If the Closing under this Agreement occurs, the Escrow Agent shall apply the Deposit to the Purchase Price at Closing and deliver it to Optionor. 
6.3    Termination.  Except as otherwise expressly provided in this Agreement, upon not less than ten (10) Business Days’ prior written notice to the Escrow Agent and the other Party, Escrow Agent shall deliver the Deposit to the Party requesting the same; provided, however, that if the other Party shall, within said ten (10) Business Day period, deliver to the requesting Party and the Escrow Agent a written notice that it disputes the claim to the Deposit, Escrow Agent shall retain the Deposit until it receives written instructions executed by both Optionor and Pabst as to the disposition and disbursement of the Deposit, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Deposit to a particular Party, in which event the Escrow Agent shall deliver the Deposit in accordance with such notice, instruction, order, decree or judgment.
6.4    Interpleader.  Pabst and Optionor mutually agree that in the event of any controversy regarding the Deposit, unless mutual written instructions are received by the Escrow Agent directing the Deposit’s disposition, the Escrow Agent shall not take any action, but instead shall await the disposition of any proceeding relating to the Deposit or, at the Escrow Agent’s option, the Escrow Agent may interplead all parties and deposit the Deposit with a court of competent jurisdiction in 

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which event the Escrow Agent may recover all of its court costs and reasonable attorneys’ fees.  Pabst and Optionor, whichever loses in any such interpleader action, shall be solely obligated to pay such costs and fees of the Escrow Agent, as well as the reasonable attorneys’ fees of the prevailing party in accordance with the other provisions of this Agreement.
6.5    Liability of Escrow Agent.  The Parties acknowledge that the Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that the Escrow Agent shall not be deemed to be the agent of either of the Parties, and that the Escrow Agent shall not be liable to either of the Parties for any action or omission on its part taken or made in good faith, and not in disregard of this Agreement, but shall be liable for its negligent acts and for any loss, cost or expense incurred by Pabst or Optionor resulting from the Escrow Agent’s mistake of law respecting the Escrow Agent’s scope or nature of its duties. Optionor and Pabst jointly and severally indemnify and hold the Escrow Agent harmless from and against all costs, claims and expenses, including reasonable attorneys’ fees, incurred in connection with the performance of the Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or made by the Escrow Agent in bad faith, in disregard of this Agreement or involving negligence on the part of the Escrow Agent.
7.    CLOSING CONDITIONS
7.1    Conditions Precedent to Pabst’s Obligations 
The obligation of Pabst to consummate the purchase of the Purchased Assets in accordance with this Agreement following the Exercise Date is subject to the satisfaction at or prior to the Closing Date (as the same may be extended pursuant to Section 10.2) of the following conditions, any of which may be waived in writing by Pabst (in its sole discretion): 
(a)    Accuracy of Optionor’s Representations and Warranties. The representations and warranties of Optionor and MillerCoors shall have been true and correct in all material respects when made and shall be true and correct in all material respects when remade on as of the Closing Date (without giving effect to any materiality qualifier in such representations and warranties themselves), as if made at each such time, in each case after giving effect to any Representation Schedule Update (but only if such Representation Schedule Updates (i) are delivered in accordance with the terms of this Agreement, (ii) are not the cause or result of a breach of Optionor’s or MillerCoors’ covenants or agreements herein, and (iii) are not material; 
(b)    Performance by Optionor under this Agreement.  Optionor and MillerCoors shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement; 
(c)    Material Consents.  Pabst shall have received all Material Consents;
(d)    Material Agreements and Permits.  All Material Agreements and Permits shall have been transferred to Pabst as of the Closing Date;

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(e)    Delivery of Documents.  Optionor shall have timely executed and delivered or caused to be delivered to Pabst or Escrow Agent (as applicable) the deliveries listed in Section 8.2; 
(f)    Absence of Prohibitions.  No Law or Order (as defined below) shall have been enacted, entered, issued, promulgated or enforced, in each case that is in effect on the Closing Date and that prohibits or restricts the transactions contemplated by this Agreement.  
(g)    Liens; Survey; Title Insurance.  The Purchased Assets shall be free and clear of all Liens except the Permitted Liens, and Pabst shall have obtained the Title Policy (or Title Company’s irrevocable commitment to issue the Title Policy at and as of the Closing) subject to the Permitted Liens;
(h)    Casualty; Condemnation. Pabst shall have not elected to terminate this Agreement pursuant to Section 5.1.
(i)    HSR.  All filings required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), in connection with Pabst’s acquisition of the Purchased Assets shall have been made and the applicable waiting periods under the HSR Act shall have expired or terminated. 
(j)    Schedule 7.1(j).  The condition set forth on Schedule 7.1(j). 
7.2    Conditions Precedent to Optionor’s Obligations.
The obligations of Optionor and MillerCoors to consummate the sale, transfer and assignment to Pabst of the Purchased Assets in accordance with this Agreement following receipt of the Exercise Notice are subject to satisfaction at or prior to the Closing Date (as the same may be extended pursuant to Section 10.1) of the following conditions, any of which may be waived in writing by Optionor (in its sole discretion):
(a)    Accuracy of Pabst’s Representations and Warranties. The representations and warranties of Pabst contained in this Agreement shall have been true and correct in all material respects when made and shall be true and correct in all material respects when remade on and as of the Closing Date (in each case without giving effect to any materiality qualifier in such representations and warranties themselves). 
(b)    Performance by Pabst.  Pabst shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required to be performed or complied with by Pabst under this Agreement on the Closing Date (including payment of the Purchase Price). 
(c)    Delivery of Documents.  Pabst shall have timely executed and delivered or caused to be delivered to Optionor or Escrow Agent, as applicable, the deliveries listed in Section 8.3; 

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(d)    Absence of Prohibitions.  No Law or Order shall have been enacted, entered, issued, promulgated or enforced, in each case in effect on the Closing Date and that prohibits or restricts the transactions contemplated by this Agreement.  
(e)    HSR.  All filings required by the HSR Act in connection with Pabst’s acquisition of the Purchased Assets shall have been made and the applicable waiting periods under the HSR Act shall have expired or terminated. 
7.3    Failure or Waiver of Conditions Precedent. 
(a)    Either Optionor or Pabst may, at its election, at any time or times on or before the Closing Date, waive in writing the benefit of any of the conditions set forth in Section 7.1 or Section 7.2 above, as applicable.  If any of the conditions set forth in Section 7.1 or Section 7.2 are not fulfilled or waived by the Party for whose benefit they are provided as of the Closing Date, the Party to be benefitted by such unfulfilled conditions may, by written notice to the other Party, terminate this Agreement as its sole recourse other than as set forth in Section 7.3(b), whereupon all rights and obligations hereunder of each Party shall be at an end except those that expressly survive any termination.  
(b)    If this Agreement is terminated as a result of the failure of any condition set forth in Section 7.1(a)-(b), Section 7.1(e)-(i) or Section 7.2(d)-(e), Pabst shall be entitled to a return of the Deposit.  
(c)    Subject to the provisions of Article 10, if this Agreement is terminated as a result of the failure of any condition set forth in Section 7.1(c)-(d), Section 7.1(j), or Section 7.2(a)-(c), then Optionor shall be entitled to the Deposit.
8.    CLOSING
8.1    Closing.  The Closing shall occur on the Closing Date at the offices of the Escrow Agent or through Escrow Agent pursuant to escrow arrangements reasonably satisfactory to Optionor and Pabst.  Upon completion of the deliveries pursuant to Section 8.2 and Section 8.3, and satisfaction of the other conditions to Closing set forth in Article 7, the Parties shall direct Escrow Agent to release such deliveries and disbursements according to the terms of this Agreement.
8.2    Optionor Parties’ Deliveries in Escrow.  On or before 2 P.M. Central Time on the Closing Date, the Optionor and/or MillerCoors shall deliver in escrow to the Escrow Agent the following:
(a)    Deed.  A grant deed for the Real Property (the “Deed”) in the form set forth in Schedule A attached hereto, executed and acknowledged by Optionor.
(b)    Assignment of Leases and Contracts and Bill of Sale.  An Assignment of Leases and Contracts and Bill of Sale for each class of the Purchased Assets in the form of Exhibit D attached hereto, executed by Optionor (the “Assignment and Bill of Sale”). 

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(c)    State Law Disclosures.  Such disclosures and reports as are required from Optionor by applicable state and local law in connection with the conveyance of the Real Property and other Purchased Assets being conveyed by Optionor hereunder, but excepting property disclosure statements which are hereby waived by Pabst to the fullest extent allowed by law.
(d)    IRS Form W-9.  Optionor shall deliver an IRS Form W-9, duly completed and executed by Optionor and MillerCoors.
(e)    Optionor’s Certificate.  A certificate (“Optionor’s Rep Certificate”) executed by Optionor and MillerCoors certifying that all of the representations and warranties of Optionor set forth in Article 2 and Article 3 are true and correct in all material respects (without giving effect to any materiality qualifier in such representations and warranties themselves) on and as of the Closing Date, after giving effect to the Representations Schedule Updates.  Optionor and Pabst acknowledge that any matter disclosed in the Optionor’s Rep Certificate that makes any of the representations and warranties of Optionor after giving effect to the Representation Schedule Updates set forth in Article 2 or Article 3 untrue in any material respect shall be subject to the provisions of Section 10.2.
(f)    Evidence of Authority.  Documentation to establish, to the reasonable satisfaction of the Title Company, the due authorization, execution and delivery by Optionor and MillerCoors of this Agreement and the transaction and of all other documents contemplated by this Agreement to be executed and delivered by Optionor and/or MillerCoors.
(g)    Evidence of Termination.  Documentation evidencing the termination of or the written notices of termination sent with respect to all Cancelled Contracts.
(h)    Memorandum.  A memorandum of the restrictions in Section 1.10. 
(i)    Tax Forms.  All applicable real property transfer tax, personal property transfer tax and other document recording tax forms and related documents (collectively, the “Transfer Tax Returns”) as are required from Optionor in order to permit the recording of the Deed or are otherwise required by applicable law in connection with the transfer of the Property provided for herein (including a California State Form 593-C certificate from Optionor or its applicable parent entity sufficient to exempt Optionor from any California state withholding requirement with respect to the transfer contemplated herein), in each case, duly executed by Optionor.
(j)    Owner’s Affidavit. An owner’s affidavit executed and acknowledged by Optionor which is acceptable to the Title Company in order to issue (i) an ALTA 2006 Owner’s Title Insurance Policy insuring the Real Property, (ii) customary “gap” protection through the date of recording of the Deed, (iii) any CLTA or ALTA owner endorsement or affirmative insurance requested by Pabst and issuable in California, and (b) any other affidavit(s) reasonably required by the Title Company in order to issue (i), (ii) and (iii).
(k)    Liability Disclosure.  An updated and final Liability Disclosure Notice. 

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(l)    Additional Documents.  Such additional documents as Escrow Agent or the Title Company or any other title insurer issuing coverage in connection with the transfer or financing of the Property may reasonably require for the consummation of the transactions contemplated by this Agreement.
8.3    Pabst’s Deliveries in Escrow.  On or before 2 P.M. Central Time on the Closing Date, Pabst shall deliver in escrow to the Escrow Agent the following:
(a)    Purchase Price.  The Purchase Price in cash, less the Deposit (which is to be applied to the Purchase Price), plus or minus applicable prorations and adjustments under Article 9, deposited by Pabst with the Escrow Agent in same‐day federal funds wired for credit into the Escrow Agent’s escrow account;
(b)    Assignment of Leases and Contracts and Bill of Sale.  The Assignment and Bill of Sale executed by Pabst; 
(c)    Evidence of Authority.  Documentation to establish to Title Company’s reasonable satisfaction the due authorization of Pabst’s execution of this Agreement and the due authorization of Pabst of the transaction and all documents contemplated by this Agreement, including a certificate of secretary;
(d)    Pabst's Certificate. A certificate executed by Pabst certifying that all of the representations and warranties of Pabst set forth in Article 2 are true and correct in all respects on and as of the Closing Date.
(e)    State Law Disclosures.  Such disclosures and reports as are by applicable state and local law in connection with the conveyance of the Real Property and Purchased Assets, but excepting property disclosure statements which are hereby waived by MillerCoors to the fullest extent allowed by law; 
(f)    Memorandum.  A memorandum of the restrictions in Section 1.10; and
(g)    Additional Documents.  Such additional documents as Escrow Agent or the Title Company may reasonably require for the consummation of the transactions contemplated by this Agreement.
(h)    Tax Forms.  The (i) Transfer Tax Returns as are required from Pabst in order to permit the recording of the Deed or are otherwise required by applicable law in connection with the transfer of the Property provided for herein (including a Preliminary Change of Ownership Report to be filed with the Deed at Closing), in each case, duly executed by Pabst and (ii) if applicable, exemption certificate in form and substance necessary to claim the partial manufacturing exemption from California sales and use tax in connection with the sale of the Purchased Assets and any resale exemption certificate for any inventory included within the Purchased Assets.

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8.4    Closing Statements/Escrow Fees.  At the Closing, Optionor and Pabst shall deposit with the Escrow Agent an executed closing statement consistent with this Agreement in the form required by the Escrow Agent.
8.5    Post-Closing Deliveries.  Promptly after the Closing, Optionor shall deliver to the Real Property or to such address as Pabst shall otherwise request at or prior to Closing, to the extent in Optionor’s or its Affiliates’ possession or control all keys, combinations and codes to all locks on the Real Property or the other Purchased Assets. 
8.6    Closing Costs. Each Party shall pay its portion of the Closing costs as set forth in Section 12.1.  The provisions of this Section 8.6 shall survive the Closing and any earlier termination of this Agreement. 
8.7    Close of Escrow.  Upon satisfaction or completion of the foregoing conditions and deliveries, the Parties shall direct the Escrow Agent to close this transaction by making disbursements according to the closing statements executed by Optionor and Pabst, and thereafter to record and deliver the documents described above to the appropriate parties.
9.    PRORATIONS
Prorations and adjustments with respect to the Purchased Assets shall be made as of the Closing Date as set forth in this Article 9.  

9.1    Prorations.  All prorations hereinafter provided to be made as of the Closing shall each be made as of the end of the day before the Closing Date. Optionor shall provide Pabst with a schedule of proposed prorations no later than seven (7) Business Days prior to the Closing Date and the Parties shall cooperate with each other in a commercially reasonable manner to finalize the prorations prior to the Closing. In each such proration set forth below, the portion thereof applicable to periods beginning as of Closing shall be credited to Pabst or charged to Pabst as applicable and the portion thereof applicable to periods ending immediately prior to the Closing shall be credited to Optionor or charged to Optionor as applicable. At the Closing, the Purchase Price shall be adjusted by the net prorations made pursuant to this Article 9.
(a)        Operating Costs.  Maintenance costs and expenses, utility (including without limitation water, sewer, electric and gas) and other operating costs and expenses (collectively, “Operating Costs”) in connection with the ownership, operation, maintenance and management of the Purchased Assets shall be prorated as of the Closing (and reasonably estimated by the Parties if final bills or meter readings (as applicable) are not available). 
(b)    Taxes and Assessments.  Taxes and Assessments.  Real property ad valorem taxes and assessments and personal property ad valorem taxes and assessments (all such real property and personal property taxes and assessments, “Property Taxes”) and installments for special assessments or similar taxes applicable to the Land and Improvements (“Special Assessments”) imposed by Governmental Entity applicable to tax year in which the Closing occurs, shall be prorated as of the Closing Date (with amounts allocable to the portion of the year on or prior to the Closing Date being allocated to Optionor and amounts allocable to the portion of the year after the Closing 

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Date being allocated to Pabst), and Pabst shall be responsible for payment of all such amounts payable after the Closing; provided that if Pabst is required to pay to any Governmental Entity an amount that is allocable to Optionor under this Section 9.1(b), then such amount shall be paid by Optionor to Pabst within three (3) days of payment by Pabst to the applicable Governmental Entity.  Optionor shall receive a credit at Closing for any taxes and assessments paid by Optionor and applicable to any period, or portion thereof, after the Closing. Notwithstanding anything else in this Agreement to the contrary, Optionor shall be responsible for any Property Taxes and any Special Assessments imposed or assessed with respect to a period (or portion thereof) ending on or prior to the Closing Date, including, for the avoidance of doubt, any such Property Taxes and such Special Assessments assessed or levied after the Closing in respect of periods prior to Closing.   Any refund or rebate of taxes resulting from a tax audit, protest, challenge or appeal, including, without limitation, the ongoing property tax appeal with Los Angeles County for the years 2013 through 2019, (an “Appeal”) for a tax year, or portion thereof, ending on or prior to the Closing Date shall belong to Optionor, whether received before or after Closing, and Optionor shall have the sole authority to prosecute such Appeal; provided that Pabst shall allow Optionor, its Affiliates, and its representatives access to the Purchased Assets (including site tours of the Land and Improvements) as reasonably requested by Optionor in connection with an Appeal; provided, further, that Pabst, at its own expense, may participate in such Appeal; provided, further, that Optionor shall not settle or compromise any Appeal without the written consent of Pabst (which consent shall not be unreasonably withheld, conditioned or delayed) if such settlement or compromise may reasonably be expected to result in an increase in the taxes for any tax year ending after the Closing Date.  Any refund or rebate of taxes, less costs incurred in connection therewith, resulting from an Appeal for the tax year in which the Closing Date occurs shall be prorated between the parties as of the Closing Date, whether received before or after Closing, and Optionor and its Affiliates and Pabst shall mutually cooperate in the prosecution of any such Appeal.  Any reasonable costs that Optionor and its Affiliates or Pabst incurs in such cooperation will be paid out of any refund or rebate of taxes arising from such protest or other Appeal.    Optionor shall pay any and all sales taxes owed for periods prior to the Closing and assist Pabst in obtaining a tax clearance certificate evidencing the payment of all such taxes owed for periods prior to Closing and owed in connection with the Closing promptly following the Closing. The foregoing obligations of Optionor and Pabst shall survive the Closing without limitation.  
(c)    Fees and Charges under Service Contracts, Licenses and Permits.  Except for any transfer or assignment fees incurred under Section 4.2, which are the responsibility of Pabst, fees and charges under such of the Service Contracts, licenses and permits as are being assigned to and assumed by Pabst at the Closing, shall be prorated on the basis of the periods to which such fees and charges under said Service Contracts, licenses and permits relate.

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(d)    Collected Rent.  All collected rent and other collected income under leases demising the Purchased Assets in effect on the Closing Date shall be prorated as of the Closing.
(e)    Carbon Credits.  Optionor and its Affiliates shall retain all greenhouse gas emission credits, carbon credits or similar environmental tax credits which are related to the Brewery allocated to the Brewery for periods prior to the Closing Date. 
(f)    Final Adjustment After Closing.  If final prorations cannot be made at Closing for any item being prorated under this Section 9.1, then Pabst and Optionor agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing but no later than sixty (60) days after the Closing (except as to real property ad valorem taxes and personal property ad valorem taxes applicable to the tax year in which the Closing occurs, the final adjustment with respect to which shall take place not later than thirty (30) days after receipt of the tax notice or the final disposition of any Appeal thereof), to the effect that income and expenses (other than ad valorem taxes) are received and paid by the Parties on an accrual basis with respect to their period of ownership.  Payments in connection with the final adjustment shall be due within ten (10) days of written notice.  In the event Optionor’s Appeal of the taxes due for the year of Closing are successful, the parties agree to re-prorate the taxes based on the results of said Appeal within ninety (90) days after the finalization of the Appeal. 
9.2    Deposits.  Pabst shall be responsible for making any deposits and prepaid expenses relating to the post-Closing period required with utility companies or under the terms of any other Assumed Contracts. Any of Optionor’s (or its Affiliates) deposits, prepaid expenses or advances relating to the post-Closing period shall be returned to Optionor and its Affiliates or paid to Optionor and its Affiliates at Closing.
9.3    Survival.  The provisions of this Article 9 shall survive the Closing.

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10.    DEFAULT AND DAMAGES
10.1    Default by Pabst. If Pabst, following delivery of the Exercise Notice, defaults in its obligation to purchase the Purchased Assets on the Closing Date, Optionor shall have the right, after written notice to Pabst and a thirty (30) day opportunity for Pabst to cure the same (provided however, that in no event may the Closing Date be extended beyond December 31, 2020), to terminate this Agreement by written notice to Pabst and thereafter to obtain and retain the Deposit as liquidated damages to recompense the Optionor and MillerCoors for time spent, labor and services performed, and the loss of its bargain.  Pabst and MillerCoors and Optionor agree that it would be impracticable or extremely difficult to affix damages if Pabst so defaults and that the Deposit represents a reasonable estimate of Optionor’s damages.  Optionor and MillerCoors agree to accept the Deposit as Optionor’s total damages and relief hereunder if Pabst defaults in any of its obligations to be performed on the Closing Date, and Optionor thereafter exercises its termination right.  If this Agreement is so terminated, Pabst shall have no further right to purchase the Purchased Assets and the Option shall have no force and effect. 
/s/ RU        /s/ GH            /s/ GH
____________                  ______________                 _________________
Pabst’s Initials                Optionor’s Initials                  MillerCoors’ Initials

10.2    Default by Optionor.  If (i) Optionor or MillerCoors default in a material obligation under this Agreement to be performed on or prior to the Closing Date, then, in each case, Pabst may elect, after written notice to Optionor and MillerCoors and a thirty (30) day opportunity for Optionor to cure the same:  (a) to terminate this Agreement on or prior to the Closing Date, in which event Pabst shall be entitled to the return of the Deposit to Pabst without any further action by Optionor and MillerCoors and to recover from Optionor and MillerCoors (on a joint and several basis) an amount equal to third party out-of-pocket costs and expenses incurred by Pabst in connection with this Agreement and the transactions contemplated hereby, (b) to bring a suit for specific performance of this Agreement or any of its terms, and/or (c) to pursue any and all other remedies at law or in equity, but (1) in respect of any claims for breach of the Fundamental Covenant, subject to a liability cap of $40,000,000, and (2) in respect of any claims for breach of any other covenant, subject to a liability cap of $10,000,000, except in each case in the event of intentional misconduct that materially impairs the value of, or Pabst’s use or operation of, the Purchased Assets.  In the event that a Representation Schedule Update or Optionor’s Rep Certificate discloses information revealing that any of the representations and warranties of Optionor and/or MillerCoors set forth in Article 2 or Article 3 is or was untrue in any manner which would have a Material Adverse Effect or would be untrue in a material respect were it to be re-made at Closing without the benefit of such Representation Schedule Update or the inclusion of such information in such Optionor’s Rep Certificate, then, provided that the relevant information became untrue after the Representation Date and is not the cause or result of a breach of Optionor’s or MillerCoors’ covenants or agreements herein, then Pabst may elect in its sole discretion (i) to waive such breach or (ii) to terminate this Agreement, in which event Pabst shall be entitled to the return of the Deposit to Pabst without any further action by Optionor and MillerCoors and (if such Representation Schedule Update or Optionor’s Rep Certificate evidences a material impairment to the value, use or operation of the 

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Purchased Assets), to recover from Optionor and MillerCoors (on a joint and several basis) an amount equal to third party out-of-pocket costs and expenses incurred by Pabst in connection with this Agreement and the transactions contemplated hereby, but not to exceed Five Hundred Thousand and No/100 ($500,000.00). 
The provisions of this Article 10 shall survive the Closing or the termination of this Agreement.
11.    SURVIVAL; INDEMNIFICATION; CERTAIN REMEDIES
11.1    Survival. 
(a)    The representations and warranties of the Parties contained in this Agreement (other than the Optionor’s Fundamental Representations and Pabst’s Fundamental Representations) and all claims with respect thereto shall survive for one (1) year after the Closing Date, whereupon they shall terminate and be without any further effect.
(b)    The Optionor’s Fundamental Representations and the Pabst’s Fundamental Representations shall survive for so long as the applicable statute of limitations with respect thereto after the Closing Date, whereupon they shall terminate and be without any further force or effect.  All covenants and agreements contained in this Agreement (a) that contemplate performance in full on or prior to the Closing, and all claims with respect thereto, shall survive the Closing until the date which is one (1) year from the Closing Date, whereupon they shall terminate and be without any further effect; and (b) that contemplate performance, in full or in part, following the Closing (including, without limitation, the provisions of Section 11.2(d) and Section 11.3(a)(iv), and all claims with respect thereto, shall survive the Closing until the expiration of the applicable statute of limitations period therefor, whereupon they shall terminate and be without any further effect. Each aforementioned period (including as set forth in Section 11.1(a)) is referred to herein as the “Survival Period” as applicable to the corresponding representation and warranty, covenant or agreement.  The Parties agree that in the event notice of any claim for indemnification under this Article 11 has been delivered within the applicable Survival Period, such claim and the representations and warranties, covenants, agreements and/or other terms and provisions that are the subject of such claim shall survive until such time as such claim is finally resolved.  
11.2    Indemnification by Optionor and MillerCoors. From and after the Closing, Optionor and MillerCoors shall indemnify, defend and hold harmless Pabst, its Affiliates and their respective directors, officers, shareholders, partners, members, agents, representatives and employees and their heirs, successors and permitted assigns, each in their capacity as such (the “Pabst Indemnified Parties”), from, against and in respect of any damages, losses, claims, charges, Liabilities, proceedings, payments, judgments, settlements, assessments, deficiencies, taxes, interest, penalties, and costs and expenses (including removal costs, remediation costs, closure costs, fines, penalties and expenses of investigation, successful enforcement and ongoing monitoring, reasonable attorneys’ fees and other reasonable out of pocket disbursements) (collectively, “Losses”) actually imposed on, sustained, incurred or suffered by, or asserted against, any of the Pabst Indemnified Parties, whether in respect of Third Party Claims, claims between the Parties or otherwise, arising out of:

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(a)    any breach of any representation or warranty made by Optionor contained in Article 2 or Article 3 attached hereto; 
(b)    any breach of any covenant or agreement of Optionor contained in this Agreement;
(c)    any taxes for which Optionor is responsible under this Agreement; 
(d)    any Liabilities retained by Optionor or MillerCoors pursuant to Section 1.3, but only in respect of Third Party Claims; 
(e)    Employment Liabilities for which Optionor or MillerCoors are responsible under this Agreement; 
(f)    any matter contained in the Liability Disclosure Notice(s); and 
(g)    the Optionor WARN Liabilities.
From and after the Effective Date, Optionor and MillerCoors shall indemnify, defend and hold harmless the Pabst Indemnified Parties from, against and in respect of any Losses actually imposed on, sustained, incurred or suffered by, or asserted against, any of the Pabst Indemnified Parties, whether in respect of Third Party Claims, claims between the Parties or otherwise, arising out of the MC 4.6 Indemnity.  
11.3    Indemnification by Pabst.
(a)    From and after the Closing, Pabst shall indemnify, defend and hold harmless Optionor, MillerCoors and their Affiliates and their respective directors, officers, shareholders, partners, members, agents, representatives and employees and their heirs, successors and permitted assigns, each in their capacity as such (the “Optionor Indemnified Parties” and, collectively with the Pabst Indemnified Parties, the “Indemnified Parties”), from, against and in respect of any Losses actually imposed on, sustained, incurred or suffered by, or asserted against, any of the Optionor Indemnified Parties, whether in respect of Third Party Claims, claims between the Parties or otherwise, arising out of:
		
	(i)
	any breach of any representation or warranty made by Pabst contained in Article 2;

		
	(ii)
	any breach of a covenant or agreement of Pabst contained in this Agreement;

		
	(iii)
	any taxes for which Pabst is responsible under this Agreement; 

		
	(iv)
	any Liabilities assumed by Pabst pursuant to Section 1.3, but only in respect of Third Party Claims; 

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	(v)
	Employment Liabilities for which Pabst is responsible under this Agreement; and

		
	(vi)
	the Pabst WARN Liabilities.

(b)    From and after the Effective Date, Pabst shall indemnify, defend and hold harmless the Optionor Indemnified Parties from, against and in respect of any Losses actually imposed on, sustained, incurred or suffered by, or asserted against, any of the Optionor Indemnified Parties, whether in respect of Third Party Claims, claims between the Parties or otherwise, arising out of:
(i)     Pabst Inspection Liabilities; 
(ii)    Pabst Hiring Liability; and 
(iii)          the Pabst 4.6 Indemnity.

11.4    Third Party Claim Indemnification Procedures.
(a)    From and after Closing, in the event that any written claim or demand for which an indemnifying party (an “Indemnifying Party”) may have liability to any Indemnified Party under this Agreement asserted against or sought to be collected from any Indemnified Party by a third party (a “Third Party Claim”), such Indemnified Party shall promptly, but in no event more than twenty (20) Business Days following such Indemnified Party’s receipt of a Third Party Claim, notify the Indemnifying Party in writing of such Third Party Claim, the amount or the estimated amount of damages sought thereunder to the extent then ascertainable (which estimate shall not be conclusive of the final amount of such Third Party Claim), any other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material details pertaining thereto (a “Claim Notice”); provided, however, that the failure timely to give a Claim Notice shall affect the rights of an Indemnified Party hereunder only to the extent that such failure has a prejudicial effect on the defenses or other rights available to the Indemnifying Party with respect to such Third Party Claim.  The Indemnifying Party shall have fifteen (15) Business Days (or such lesser number of days set forth in the Claim Notice as may be required by court proceeding in the event of a litigated matter) after receipt of the Claim Notice (the “Notice Period”) to notify the Indemnified Party that it desires to defend the Indemnified Party against such Third Party Claim.
(b)    In the event that the Indemnifying Party notifies the Indemnified Party within the Notice Period that it desires to defend the Indemnified Party against a Third Party Claim, the Indemnifying Party shall have the right to defend the Indemnified Party by appropriate proceedings and, subject to the provisions of Section 9.1(b) with respect to an Appeal, shall have the power to direct and control such defense at the Indemnifying Party’s expense, unless (i) the amount claimed in such Third Party Claim, together with the aggregate amount of any pending claims for indemnification by the Indemnifying Party under this Article 11, exceeds (or may exceed) the liability to the Indemnified Party, (ii) such Third Party Claim is made by any Governmental Entity 

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or (iii) such Third Party Claim is made in respect of an Order that would materially restrict or otherwise materially adversely affect the future activity or conduct of the Indemnified Party or any of its Affiliates (including, in the case of any Pabst Indemnified Party, the future operations or conduct of the Purchased Assets (or any portion thereof)).  If the Indemnifying Party does not have the right to defend the Indemnified Party pursuant to the previous sentence, then the Indemnified Party shall take all reasonable steps necessary to defend diligently such Third Party Claim within ten (10) Business Days after the date on which the Claim Notice was required to be delivered.  The Indemnified Party (or the Indemnifying Party if the Indemnifying Party does not have the right to direct and control defense of a matter) shall have the right, but not the obligation, to participate in any such defense and to employ separate counsel of its choosing.  If the Indemnified Party elects to participate and employ separate counsel, the fees and expenses of such counsel shall not constitute Losses unless the Indemnifying Party does not have the right to direct and control the defense of such matter or has the right to direct and control the defense of such matter and fails to take all reasonable steps to defend diligently such claim, in which case such fees and expenses shall constitute Losses.  The Indemnifying Party shall not, without the prior written consent of the Indemnified Party, settle, compromise or offer to settle or compromise any Third Party Claim on a basis that would result in %3. the imposition of an Order that would  restrict or otherwise adversely affect the future activity or conduct of the Indemnified Party or any of its Affiliates (including, in the case of any Pabst Indemnified Party, the future operations or conduct of the Purchased Assets (or any portion thereof)), %3. a finding or admission of a violation of Law or violation of the rights of any Person by the Indemnified Party or any of its Affiliates, %3. any monetary liability of the Indemnified Party that will not be fully and promptly indemnified hereunder by the Indemnifying Party, or %3. such Indemnified Party not being completely and unconditionally released from any and all liabilities (including any and all debts, guaranties, assurances, commitments and obligations of any kind, whether fixed, contingent or absolute) claimed in the Third Party Claim.
(c)    If the Indemnifying Party %3. elects not to defend the Indemnified Party against a Third Party Claim, whether by not delivering the Indemnified Party timely notice of its election to so defend or otherwise, or %3. after assuming the defense of a Third Party Claim, fails to take reasonable steps necessary to defend diligently such Third Party Claim within ten (10) Business Days after receiving written notice from the Indemnified Party to the effect that the Indemnifying Party has so failed, the Indemnified Party shall have the right but not the obligation to assume its own defense (including settling, compromising or offering to settle or compromise such Third Party Claim, without the Indemnifying Party’s consent); provided that the Indemnified Party’s right to indemnification for a Third Party Claim shall not be adversely affected by assuming the defense of such Third Party Claim.  
(d)    The Indemnified Party and the Indemnifying Party shall reasonably cooperate in the defense of a Third Party Claim pursuant to Section 11.4(b), including by providing reasonable access to each other’s relevant information, business records and other documents, and employees; provided that any costs and expenses related to the investigation and defense of a Third Party Claim incurred by the Indemnified Party shall be counted as Losses.
(e)    The Indemnified Party and the Indemnifying Party shall use reasonable efforts to avoid production of confidential information (consistent with applicable law), and to cause 

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employees, counsel and others representing any party to a Third Party Claim to avoid production or disclosure of information that would reasonably be expected to cause the loss or waiver of the protection of any attorney-client privilege, attorney work product or other relevant legal privilege.
11.5    Direct Claims. In the event of a Closing, if an Indemnified Party wishes to make a claim for indemnification under this Agreement for a Loss that does not result from a Third Party Claim (a “Direct Claim”), the Indemnified Party shall notify the Indemnifying Party in writing of such Direct Claim, the amount or the estimated amount of damages sought thereunder to the extent then ascertainable (which estimate shall not be conclusive of the final amount of such Direct Claim), any other remedy sought thereunder, any relevant time constraints relating thereto and, to the extent practicable, any other material details pertaining thereto as soon as reasonably practicable, but in any event no more than twenty (20) Business Days after the Indemnified Party becomes aware of circumstances indicating that the Indemnified Party has incurred or could reasonably be expected to incur Losses in respect of which it is entitled to indemnification hereunder; provided, however, that the failure to timely deliver notice of a Direct Claim pursuant to this Section 11.5 shall affect the rights of an Indemnified Party hereunder only to the extent that such failure has a prejudicial effect on the defenses or other rights available to the Indemnifying Party with respect to such Direct Claim.  If the Indemnifying Party rejects all or any part of the Direct Claim or fails to respond within twenty (20) Business Days of such notice, the Indemnified Party shall be free to seek enforcement of its rights to indemnification under this Agreement with respect to such Direct Claim.
11.6    Payments.  The Indemnifying Party shall pay all amounts payable pursuant to this Article 11, by wire transfer of immediately available funds, promptly following receipt from an Indemnified Party of an invoice, together with all accompanying reasonably detailed back-up documentation (including bank account information), for a Loss that is the subject of indemnification hereunder, unless the Indemnifying Party in good faith disputes the Loss, in which event it shall so notify the Indemnified Party.  In any event, the Indemnifying Party shall pay to the Indemnified Party, by wire transfer of immediately available funds, the amount of any Loss for which it is liable hereunder no later than three (3) Business Days following any final determination of such Loss and the Indemnifying Party’s liability therefor.  A “final determination” shall exist when %4. the Parties have reached an agreement in writing, or %4. with respect to any Dispute, when such Dispute has been finally settled by arbitration pursuant to and in accordance with Section 12.4 of this Agreement or by the Independent Accountants pursuant to and in accordance with Section 12.5 of this Agreement. 
11.7    Characterization of Indemnification Payments.  All payments made by an Indemnifying Party to an Indemnified Party in respect of any claim pursuant to Section 11.2 or Section 11.3 shall be treated as adjustments to the Purchase Price for tax purposes.  
11.8    Remedies.  If the Closing occurs, the rights and remedies of the Parties under this Article 11 shall be exclusive and in lieu of any and all other rights and remedies the Parties may have after the Closing under this Agreement and Optionor each expressly waives any and all other rights or causes of action it or its Affiliates may have against the other Party or its Affiliates arising under or based on applicable Law with respect to the subject matter hereof. Each Indemnified Party shall take and shall cause its Affiliates to take reasonable steps to mitigate the Losses to the extent 

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required by Law after becoming aware of any event which would reasonably be expected to give rise to any Losses.
11.9    Limitations on Indemnification.
(a)    The liability of Optionor to the Pabst Indemnified Parties in respect of any Losses imposed on, sustained, incurred or suffered by or asserted against any of the Pabst Indemnified Parties in respect of (i) any claims pursuant to Section 11.2(a) (other than with respect to Optionor’s Fundamental Representations) shall not exceed in the aggregate $1,500,000; (ii)  any claims pursuant to Section 11.2(b) other than with respect to the Fundamental Covenant shall not exceed in the aggregate $10,000,000; (iii) any claims pursuant to Section 11.2(a) with respect to the Fundamental Representation set forth in 3.1(g)(iii) and claims pursuant to Section 11.2(b) with respect to the Fundamental Covenant shall not exceed in the aggregate $40,000,000, (iv) any claims pursuant to Section 11.2(e) shall be as set forth in paragraph (b) of Schedule 1.4; and (v)  any other claims pursuant to Section 11.2 shall not exceed in the aggregate the Purchase Price.   
(b)    The liability of Pabst to the Optionor Indemnified Parties in respect of any Losses imposed on, sustained, incurred or suffered by or asserted against any of the Optionor Indemnified Parties in respect of (i) any claims pursuant to Section 11.3(a)(i) (other than with respect to Pabst’s Fundamental Representations) shall not exceed in the aggregate $1,500,000; (ii) any claims pursuant to Section 11.3(a)(ii) shall not exceed in the aggregate $10,000,000; (iii) any claims pursuant to Section 11.3(a)(v) shall be as set forth in paragraph (b) of Schedule 1.4; and (iv) any other claims pursuant to Section 11.3 shall not exceed in the aggregate the Purchase Price. 
(c)    The amount of any Losses payable under Article 11 by an Indemnifying Party will be (i) computed net of any insurance proceeds actually received by the Indemnified Party with respect thereto, and (ii) reduced by the amount of proceeds actually received by the Indemnified Party from any recovery from any third party in respect of such Loss, in each case relating to the matters described in the notice for the claim.
(d)    No claim for indemnification under Article 11 may be made by either Party for any Losses to the extent such Losses were specifically included in the calculation of the adjustment to the Purchase Price pursuant to Article IX (Proration).
(e)    Any amounts payable pursuant to the indemnification obligations under this Article 11 shall be paid without duplication, and in no event shall any Party be entitled to recover indemnification payments under different provisions of the Agreement in respect of the same Loss.
(f)    If an Indemnified Party recovers an amount from a third party in respect of a Loss after all or a portion of such Loss has been paid by an Indemnifying Party pursuant to this Article 11, the Indemnified Party shall promptly remit to the Indemnifying Party the excess (if any) of (i) the amount paid by the Indemnifying Party in respect of such Loss, plus the amount received from the third party in respect thereof, less (ii) the full amount of the Loss.
(g)    Optionor and MillerCoors shall not be liable with respect to any claim made pursuant to Section 11.2(a) for breach of representation and warranty if (i) Pabst had knowledge of 

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such breach prior to the Closing and (ii) Pabst has the right (due to such breach) to terminate this Agreement pursuant to Section 7.1(a) and nonetheless elects to Close the transactions contemplated hereunder.  For purposes of this Section 11.9, Pabst shall be deemed to have knowledge of any breach of a representation or warranty contained herein if the breach was disclosed to Pabst in the Data Room at least forty-eight (48) hours prior to Closing.  
(h)    NOTWITHSTANDING ANY PROVISION TO THE CONTRARY HEREIN, EXCEPT TO THE EXTENT AWARDED BY A COURT TO A THIRD PARTY PURSUANT TO A THIRD PARTY CLAIM, AN INDEMNIFIED PARTY WILL NOT BE ENTITLED TO RECOVER ANY CONSEQUENTIAL OR INCIDENTAL, EXEMPLARY, SPECIAL OR PUNITIVE DAMAGES IN CONNECTION WITH ANY CLAIM ASSERTED PURSUANT TO THIS ARTICLE 11 OR INCLUDING ANY RECOVERY UNDER A “MULTIPLE OF PROFITS,” “MULTIPLE OF CASH FLOW,” “MULTIPLE OF EBITDA” OR SIMILAR VALUATION METHODOLOGY IN CALCULATING THE AMOUNT OF ANY INDEMNIFIABLE LOSSES.
(i)    EXCEPT IN THE EVENT OF (A) FRAUD OR AN INTENTIONAL MISREPRESENTATION WITH AN INTENT TO MISLEAD OR DECEIVE, (B) WITH RESPECT TO THE COVENANTS OF OPTIONOR AND/OR MILLERCOORS (AND NOT ANY REPRESENTATIONS OR WARRANTIES), INTENTIONAL MISCONDUCT THAT MATERIALLY IMPAIRS THE VALUE OF, OR PABST’S USE OR OPERATION OF, THE PURCHASED ASSETS OR (C) AS OTHERWISE SPECIFICALLY SET FORTH IN THIS AGREEMENT, INCLUDING WITHOUT LIMITATION IN SECTION 10.2, SECTION 12.1 OR SECTION 12.2, THE RIGHTS OF INDEMNITY PROVIDED IN THIS ARTICLE 11 ARE PABST’S SOLE AND EXCLUSIVE REMEDY WITH RESPECT TO ANY AND ALL CLAIMS OF ANY KIND WHATSOEVER ARISING OUT OF OR RELATING IN ANY WAY TO THE SUBJECT MATTER OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (INCLUDING ANY AND ALL BREACHES OR ALLEGED BREACHES OF ANY REPRESENTATIONS, WARRANTIES, COVENANTS OR AGREEMENTS OF THE PARTIES, OR ANY OTHER PROVISION OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY) AND ALL OTHER REMEDIES AND RIGHTS OF INDEMNITY OR CONTRIBUTION, WHETHER CREATED BY LAW OR OTHERWISE, ARE HEREBY WAIVED. 
11.10    Submission to Arbitration.  All claims for indemnification pursuant to this Article 11 that are in Dispute shall be finally settled by arbitration pursuant to and in accordance with Section 12.4 of this Agreement, other than Accounting Disputes which shall be settled by the Independent Accountants in accordance with Section 12.5.
The provisions of this Article 11 shall survive the Closing indefinitely (it being understood, for the avoidance of doubt, that this provision does not extend the applicable Survival Period).  
12.    GENERAL; MISCELLANEOUS 
12.1    Expenses.  

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(a)    Fees of Agents, Advisors.  Subject to Section 12.1(b) and Section 12.1(c) below, each Party will bear its respective expenses incurred in connection with the preparation, execution, and performance of this Agreement and the contemplated transactions, including all fees and expenses of agents, representatives, counsel, and accountants, whether or not a Closing occurs.
(b)    Closing Costs. If the Closing shall occur, Optionor shall pay, at or before Closing, (a) one-half the premium for Pabst’s California owner’s policy of title insurance (the “Title Policy”), (b) all transfer, excise, sales and/or similar taxes (other than income taxes or franchise taxes) which may be assessed against any proceeds received by Optionor or MillerCoors in connection with Optionor’s and MillerCoors’ transfer to Pabst of title to the Purchased Assets (all such taxes, the “Applicable Transfer and Sales Taxes”) in excess of the amount of Applicable Transfer and Sales Taxes for which Pabst is responsible for under this Section 12.1(b), (c) one-half (1/2) the fees for recording the Deed conveying the Real Property to Pabst and (d) one-half (1/2) of the escrow fee (if any) charged by Escrow Agent in connection with the transaction that is the subject of this Agreement.  Pabst shall pay, at or before Closing, (i)  one half of all Applicable Transfer and Sales Taxes, except Pabst shall not be responsible for any Applicable Transfer and Sales Taxes applicable to the transfer of personal property in excess of $2,000,000, (ii) the cost of any extended coverage, endorsements or other modifications requested by Pabst to the Title Policy, (iii) one-half (1/2) of the escrow fee (if any) charged by Escrow Agent in connection with the transaction that is the subject of this Agreement, (iv) one-half the premium for Pabst’s California owner's policy of title insurance and (v) one-half the fees for recording the Deed.  Any other Closing costs or Closing expenses that are not expressly provided for in this Agreement shall be allocated fifty-fifty (50/50) as between MillerCoors and Optionor, on the one hand, and Pabst on the other hand. 
(c)    Dispute Costs. In the event that any Party institutes any legal suit, action, or proceeding, including arbitration, against the other Party to enforce the covenants contained in this Agreement or the Transition Services Agreement (or obtain any other remedy in respect of any breach of this Agreement or the Transition Services Agreement) arising out of or relating to this Agreement, the prevailing party in the suit, action or proceeding shall be entitled to receive, in addition to all other damages to which it may be entitled, the third party costs incurred by such Party in conducting the suit, action, or proceeding, including reasonable third party attorneys’ fees and expert expenses, other expenses and court costs. 
12.2    Confidentiality.  
(a)    Public Announcements. Unless otherwise required by applicable law or stock exchange requirements (based upon reasonable advice of counsel), no Party to this Agreement shall make any public announcements in respect of this Agreement, the transactions contemplated hereby or the information obtained regarding the Purchased Assets or otherwise communicate with any news media in respect of this Agreement without the prior written consent of the other Parties (such consent not to be unreasonably withheld).  Without the consent of Pabst, Optionor, MillerCoors and their Affiliates may (i) make a press release and/or announcements to their employees related to the Plant Closure (but not this Agreement and the transactions contemplated by this Agreement) and (ii) make an 8-K, 10-K or 10-Q filing with the U.S Securities and Exchange Commission 

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regarding this Agreement and the transactions contemplated by this Agreement; provided, however, that no such filing shall include the Schedules to the Agreement, unless otherwise required under applicable law or by regulatory authority.  No Party shall make any other press releases, and neither Optionor nor MillerCoors shall make any announcements to its employees, in each case related to this Agreement and the transactions contemplated by this Agreement, without the consent of the other Parties hereto, not to be unreasonably withheld. 
(b)    “Confidential Information” of a Party means all information (whether in written, oral, verbal, electronic, visual or any other form) and materials regarding the Purchased Assets, the employees of the Optionor Parties, or the business of the Party which such Party and/or its Affiliates, including  without limitation any employee or representative of such Party and/or its Affiliates (“Disclosing Party”) has furnished or hereafter furnishes to the other Party (“Recipient”) or its representatives which the Party and/or its Affiliates would consider to be proprietary, trade secret or other non-public information of the Disclosing Party and/or its Affiliates.  Confidential Information specifically includes all information developed or obtained by Pabst in connection with the transactions contemplated by this Agreement and the Transition Services Agreement.  A Party’s Confidential Information specifically includes, but is not limited to, such Party’s and its Affiliates’; pricing, costs and other financial information, financial projections, customer prospects, customer and supplier information, employee lists, employee records, employee information, strategic initiatives, marketing plans, business methods, operating and production procedures, drawings, artwork, designs, schematics, formulations, processes, patent applications, research procedures, models, computer programs, unpatented inventions (including inventions that are the subject of patent applications), recipes, formulas, prototypes, samples, specifications, test results, analyses, software, forecasts and studies, and any third party confidential information included within the information provided by the Disclosing Party and any notes, reports or analyses prepared by Recipient that contain the foregoing.  “Confidential Information” includes the fact that discussions or negotiations have taken place or are taking place between the Parties regarding the transactions contemplated by this Agreement (the “Purpose”) or any of the terms or conditions of this Agreement.  Notwithstanding the foregoing, Confidential Information of a Disclosing Party does not include any information or materials which (i) is or becomes generally available to the public other than as result of a breach by Recipient or its Authorized Persons (defined below) of this Agreement, (ii) was specifically known to Recipient or its Authorized Persons prior to receipt thereof by Recipient or its Authorized Persons from Disclosing Party (other than with respect to information or materials known to Recipient or its Authorized Persons subject to the terms of a separate confidentiality agreement with any Optionor Party), (iii) was or is independently developed without breaching this Agreement by the Recipient or by Recipient’s employees or agents and where Recipient can demonstrate such independent development, or (iv) is approved for release by the express written authorization of Disclosing Party, and then only after such approval and only for the purpose specified.   Notwithstanding anything in this Agreement to the contrary, no Party shall be prohibited from disclosing the Purchase Price as required by Law or applicable filings with the U.S. Securities and Exchange Commission (including an 8-K, 10-K or 10-Q) and the delivery or recording of the Deed and other Closing documents, and no Party shall be prohibited from disclosing the Purchase Price or other relevant terms or conditions of this Agreement in connection with any Appeal or other action to enforce the terms and provisions of this Agreement.

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(c)    Recipient shall keep or cause to be kept in strict confidence all Confidential Information of Disclosing Party and shall not disclose it to anyone except to it and its Affiliates, directors, officers, accountants, attorneys, and a limited group of its employees who are engaged in the evaluation of such Confidential Information in connection with the transactions contemplated by this Agreement, any other person or entity assisting Recipient with the transaction or participating in the transaction (including potential and actual co-packers or alternating proprietorships with which Pabst may transact after the Closing Date) and, in the case of Pabst, Recipient’s prospective and actual (x) debt and equity sources and (y) Financing Transaction counterparties and (z) potential and actual co-packers or alternating proprietorships with whom Pabst may brew beer for after the Closing Date (“Authorized Persons”). All Authorized Persons shall, prior to any disclosure to them, be informed of the confidentiality provisions of this Agreement and instructed to treat such information as confidential as provided for herein.  Recipient will use all Confidential Information only in connection with the Purpose (including, for the avoidance of doubt, evaluating and/or implementing the transaction with respect to the Purchased Assets, determining whether to proceed with the contemplated purchase, or if same is consummated, in connection with the ownership or operation of the Purchased Assets post-Closing) or for the purpose of fulfilling its responsibilities hereunder.  Recipient shall use at least the same degree of care in safeguarding Confidential Information of Disclosing Party as Recipient uses for its own proprietary information of like importance, but in no event less than reasonable care.  Each of the Authorized Persons of Recipient to whom Confidential Information of Disclosing Party is disclosed will be advised by Recipient of its confidential nature and of the terms of this Agreement. In the event of the breach of this Agreement by an Authorized Person, the Disclosing Party shall have rights against the Authorized Person and the Recipient to the fullest extent permitted by law, and Recipient agrees to take all steps necessary to secure such rights.  In the event that Disclosing Party deems any of the Confidential Information to be competitively sensitive information, Disclosing Party may request that such competitively sensitive information be reviewed only by Authorized Persons who are third parties and who are not directors, officers or employees of Recipient or its Affiliates. 
(d)    Upon Disclosing Party’s written request after the termination or expiration of this Agreement, Recipient will either destroy or return to Disclosing Party all Confidential Information of Disclosing Party which is in tangible form, including any copies thereof which Recipient or its Authorized Persons may have made, and Recipient will destroy all abstracts, notes and summaries thereof and destroy or delete all references thereto in its documents; provided, however, that Recipient (and its Authorized Persons) may retain copies of Confidential Information to the extent that failing to do so would be reasonably likely to violate any applicable law, regulation, request from a Governmental Entity, or would contravene Recipient’s (or such Authorized Person’s) record document retention policies or procedures for legal, compliance or regulatory purposes.  If Disclosing Party notifies Recipient in writing as to any of the Confidential Information of Disclosing Party which it does not wish copied, Recipient shall comply.  Notwithstanding anything to the contrary herein, nothing in this Agreement shall require the destruction of any standard electronic back-up or archival copies made in the ordinary course of business; provided that any Confidential Information so retained shall continue to be subject to the terms and conditions of this Agreement, subject to subsection (j) below.  If Recipient or anyone to whom Recipient transmits the Confidential Information of Disclosing Party is requested or required by applicable law or regulation, or securities exchange, or by order of a court or Governmental Entity or otherwise in connection with a legal 

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proceeding (by oral questions, interrogatories, requests for information or documents, subpoenas, civil investigative demands or otherwise) to disclose any of such Confidential Information, Recipient will use commercially reasonable efforts to provide Disclosing Party with prompt notice, if lawful, so that Disclosing Party may seek, at Disclosing Party’s expense, a protective order or other appropriate remedy or Disclosing Party will waive compliance with the provisions of this Agreement.  If such protective order or other remedy is not obtained, or if Disclosing Party waives compliance with the provisions of this Agreement, Recipient will furnish only that portion of the Confidential Information of Disclosing Party which Recipient is advised by its counsel it is legally required to be furnished.  
(e)    Recipient recognizes that irreparable injury may result to Disclosing Party if Recipient breaches any provision of this Section 12.2 and agrees money damages might not be a sufficient remedy for any breach.  Accordingly, if Recipient or any of its Representatives engage in any act in violation of any provision of this Section 12.2, Disclosing Party shall be entitled, in addition to such other remedies as may be available to it under applicable law, to seek an injunction prohibiting Recipient and its Representatives from engaging in any such act, or specifically enforcing the terms of this Section 12.2, as the case may be. The Parties waive any requirement for the posting of any bond or the showing of actual monetary damages.
(f)    Except as provided in Article 3, neither the Disclosing Party nor any of its Representatives or Affiliates makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the Confidential Information disclosed to the Recipient hereunder.  Except as expressly provided in this Agreement, neither the Disclosing Party nor any of its Representatives or its Affiliates shall be liable to the Recipient or any of its Representatives relating to or resulting from the Recipient’s use of any of the Confidential Information or any errors therein or omissions therefrom; provided that this shall apply only with respect to this Agreement and not with respect to any other agreement entered into between the Parties.
(g)    Each Party agrees to comply with all laws in connection with its receipt and any transmission of Confidential Information, including without limitation any privacy and data security laws.  Recipient shall not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney and solely for the purpose of reporting or investigating a suspected violation of law or is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.
(h)    Notwithstanding anything to the contrary in this Agreement, Pabst may record a memorandum of this Option in the form attached hereto as Exhibit C (the “Option Memorandum”) with the Los Angeles County Recorder’s Office.   
(i)    This Section 12.2 is subject to the additional terms and provisions set forth in Section 1.7 above.
(j)    The Parties’ obligations under this Section 12.2 will continue until the earlier of (a) Closing and (b) five (5) years following the Effective Date, at which time the Parties obligations under this Section 12.2 shall terminate and be of no further force or effect; provided that any trade 

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secrets shall survive for so long as such trade secret is considered to be a trade secret under applicable law.
12.3    Notices.  All notices, consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly given when (a) delivered by hand (with written confirmation of receipt), (b) sent by electronic message (email) to the email address set forth below; provided that a copy also is mailed by registered mail, return receipt requested, or (c) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested), in each case to the appropriate addresses set forth below (or to such other addresses as a Party may designate by notice to the other Parties):
Optionor:    MillerCoors USA LLC
250 S. Wacker Dr., Suite 800
Chicago IL 60606
Attn:  Chief Legal Officer
E-mail: kelly.grebe@millercoors.com

With a copy to:

Quarles & Brady LLP
Attn:  Jennifer Clements
411 E. Wisconsin Avenue
Suite 2350
Milwaukee, WI  53202
E-mail: jennifer.clements@quarles.com

Pabst:        Pabst Brewing Company, LLC
Attn: Rob Urband
10635 Santa Monica Blvd.    
Suite 350
Los Angeles, CA  90025
E-mail: rurband@pabst.com

With a copy to:

Sullivan & Cromwell LLP
Attn: Robert M. Schlein  
        125 Broad Street  
        New York, New York 10004  
        Email: schleinr@sullcrom.com

Any notice hereunder shall be deemed to have been given (i) upon receipt, if personally delivered, (ii) on the Business Day after dispatch, if sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt requested and received.

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12.4    Dispute Resolution.
(a)    Dispute.  As used in this Agreement, “Dispute” means any dispute or disagreement between or among Optionor, Pabst and/or MillerCoors concerning the interpretation of this Agreement, the validity of this Agreement, any breach or alleged breach by any Party of this Agreement or any other matter relating in any way to this Agreement; provided that Dispute shall not include a dispute concerning Section 12.2 or any other confidentiality agreement between the Parties, or a dispute with respect to the Accounting Disputes.  Further, any action for specific performance shall be governed by Section 12.7. 
(b)    Process.  If a Dispute arises, other than a Dispute with respect to an Accounting Dispute, the Parties will follow the procedures specified in subsections (c) through (e) below.
(c)    Negotiations.  The Parties will promptly attempt to resolve any Dispute by negotiations between the Optionor and Pabst.  Either the Optionor or Pabst may give the other Party written notice of any Dispute not resolved in the normal course of business.  The Optionor and Pabst will meet at a mutually acceptable time and place within twenty (20) calendar days after delivery of such notice, and thereafter as often as they reasonably deem necessary, to exchange relevant information and to attempt to resolve the Dispute.  If the Dispute has not been resolved by these Parties within thirty-five (35) calendar days of the disputing Party’s notice, or if the Parties fail to meet within such thirty (30) calendar days, either the Optionor or Pabst may initiate arbitration as provided in Section 12.4(d).  If a Party intends to be accompanied at a meeting by legal counsel, the other Party will be given at least three (3) Business Days’ notice of such intention and may also be accompanied by legal counsel.
(d)    ARBITRATION OF DISPUTES. IF A DISPUTE IS NOT RESOLVED BY NEGOTIATION PURSUANT TO SUBSECTION (C), SUCH DISPUTE SHALL BE RESOLVED BY A JAMS ARBITRATOR (WITH AT LEAST TEN (10 YEARS EXPERIENCE ARBITRATING COMMERCIAL REAL ESTATE OR MERGERS AND ACQUISITIONS DISPUTES IN CALIFORNIA) IN ACCORDANCE WITH THE JAMS COMPREHENSIVE ARBITRATION RULES AND PROCEDURES.  SUCH DECISION SHALL BE BINDING UPON THE PARTIES AND JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY COURT HAVING JURISDICTION THEREOF.  THE PLACE OF ARBITRATION SHALL ALTERNATE BETWEEN CHICAGO AND CALIFORNIA.  THE ARBITRATION SHALL BE GOVERNED BY THE INTERNAL LAWS OF CALIFORNIA.  EXCEPT AS MAY BE REQUIRED BY LAW, NEITHER A PARTY NOR ANY ARBITRATOR MAY DISCLOSE THE EXISTENCE, CONTENT, OR RESULTS OF ANY ARBITRATION HEREUNDER WITHOUT THE PRIOR WRITTEN CONSENT OF THE PARTIES.  
NOTICE:  BY INITIALLING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL.  BY INITIALLING 

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IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION.  IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE.  YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY.
WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION TO NEUTRAL ARBITRATION.
/s/ RU                _/s/ GH        /s/ GH_________                       __________             _______________
Pabst’s Initials                    Optionor’s Initials          MillerCoors’ Initials

(e)    General.
		
	(i)
	Extension of Deadlines.  All deadlines specified in this Section 12.4 may be extended by mutual agreement between the Optionor and Pabst.

		
	(ii)
	Enforcement.  The Parties regard the obligations in this Section 12.4 to constitute an essential provision of this Agreement and one that is legally binding on them. In case of a violation of the obligations in Section 12.4(b), (c) and (d) by any Party, the other Party may bring an action to seek enforcement of such obligations in a court of law as set forth in Section 12.7 (subject to the terms of Section 12.6).

		
	(iii)
	Costs.  With respect to proceedings under Section 12.4(d), the Optionor and Pabst will each pay fifty percent (50%) of the fees and expenses of the arbitrator in connection with the application of the provisions of Section 12.4(d).  

		
	(iv)
	Replacement.  With respect to proceedings under Section 12.4(d), if JAMS is no longer in business or is unable or refuses or declines to act or to continue to act under this Section 12.4 for any reason, then the functions specified in this Section 12.4 to be performed by JAMS will be performed by the American Arbitration Association (“AAA”) in accordance with its Commercial Arbitration Rules, unless another replacement is mutually agreed to by the Parties.

12.5    Independent Accountants.  The Parties shall attempt to resolve any Disputes with respect to Section 1.10 (Post-Closing Transactions), 12.1 (Expenses), any tax matter (including any Tax Returns), the Allocation Appraisal, or Article 9 (the “Accounting Disputes”); provided, however, that if no resolution is reached on or before the thirtieth (30th) day following a Party's 

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receipt of a notice of dispute, the Parties shall employ a firm of certified public accountants mutually agreed to and independent of both Parties (which shall be a large regional firm or a big 4 firm) (the “Independent Accountants”) for purposes of settling the items in dispute. In the event the Parties cannot mutually agree on the Independent Accountants after providing at least three suggestions each, either Party may choose to have an arbitrator determine the Independent Accountants as set forth in Section 12.4  Such Independent Accountants shall only review the items in dispute and shall determine whether such disputed items are consistent with this Agreement and, if not, shall make such changes thereto as are necessary to resolve such Accounting Disputes and the provisions of this Agreement.  The Independent Accountants may specify appropriate procedures for resolving the disputed items, including requesting written or oral submissions and explanations.  The decision of the Independent Accountants on each item in dispute may not be greater than the higher position of Pabst and the Optionor Parties nor the lower position of Pabst and the Optionor Parties with respect to such item.  The conclusions of the Independent Accountants shall have the legal effect of an arbitral award and shall be final and binding on the Parties.  The Independent Accountants shall determine the percentage of its fees and expenses to be paid by Pabst and the Optionor Parties, with such fees and expenses being borne in inverse proportion to the degree to which the Independent Accountants accepted the positions of the respective Parties.  
12.6    WAIVER.  EACH PARTY TO THIS AGREEMENT EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OR OTHERWISE OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT OR TORT OR OTHERWISE.  EACH PARTY AGREES THAT SUCH DISPUTES SHALL BE DECIDED BY MANDATORY ARBITRATION PURSUANT TO SECTION 12.4 OF THIS AGREEMENT.  THE PARTIES AGREE THAT THE PROVISIONS CONTAINED HEREIN HAVE BEEN NEGOTIATED ON AN ARMS-LENGTH BASIS, WITH THE PARTIES AGREEING TO THE SAME KNOWINGLY AND BEING AFFORDED THE OPPORTUNITY TO HAVE THEIR RESPECTIVE LEGAL COUNSEL ADVISE THEM AS TO THE MATTERS CONTAINED HEREIN.
12.7    Jurisdiction, Service of Process. With respect to (a) enforcement claims in respect of Disputes subject to arbitration or Accounting Disputes or (b) in the event any Party desires to seek specific performance or to enforce the confidentiality obligations under Section 12.2, the  Parties hereby submit to the exclusive venue and jurisdiction of the State of California and United States District courts located within the City of Los Angeles in respect of any suit or other proceeding brought in connection with or arising out of this Agreement, each of the Parties consents to the exclusive jurisdiction of such courts (and their respective appellate courts) in any such action or proceeding and waives any objection to venue laid therein.  Process in any action or 

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proceeding referred to in the preceding sentence may be served on any Party anywhere in the world.  Nothing in this Section 12.7 shall limit in any way the provisions of Sections 12.4 and 12.5 of this Agreement. In addition, the Parties hereby submit to the exclusive venue and jurisdiction of the State of Wisconsin and the United States Districts courts located within the City of Milwaukee for any claims related to the Settlement Agreement.  
12.8    Waiver.  The rights and remedies of the Parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by any Party in exercising any right, power, or privilege under this Agreement or the documents referred to in this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege.  Notwithstanding the foregoing, to the extent Pabst does not exercise its option rights within the time periods set forth herein, Pabst’s rights shall be deemed to be waived.  To the maximum extent permitted by applicable law, (a) no claim or right arising out of this Agreement or the documents referred to in this Agreement can be discharged by one Party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by the other Party; (b) no waiver that may be given by a Party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one Party will be deemed to be a waiver of any obligation of such Party or of the right of the Party giving such notice or demand to take further action without notice or demand as provided in this Agreement or the documents referred to in this Agreement.
12.9    Entire Agreement and Modification.  This Agreement and the Settlement Agreement supersede all prior discussions and agreements between the Parties with respect to the option to purchase the Brewery. This Agreement, the Settlement Agreement and, with respect to the site visit referenced therein, the Location Access Agreement dated January 28, 2019, constitute a complete and exclusive statement of the terms of the agreement between the Parties with respect to the Option to purchase the Brewery. This Agreement may not be amended except by a written agreement executed by all of the Parties hereto.  In the event of a conflict between this Agreement and the Settlement Agreement, this Agreement shall control.
12.10    Assignments, Successors, and No Third-Party Rights.  No Party may assign or transfer any of its rights under this Agreement, whether voluntarily or by operation of law, without the prior written consent of the other Parties, and any such assignment shall be null and void; provided, however, that Pabst shall have the right to assign and transfer this Agreement (and/or any right to acquire the Purchased Assets under this Agreement) without Optionor’s or MillerCoors’ consent if all of the following conditions are satisfied: (a) as of the date of such assignment, the assignee of Pabst must be an entity (x) in which Pabst directly or indirectly owns and controls at least a fifty one percent (51%) equity or like ownership and fifty one percent (51%) voting interest (each, a “Pabst Entity”) or (y) an entity which is at least 51% owned (directly or indirectly) by an entity which also directly or indirectly owns at least 51% of Pabst, (b) the assignee shall assume all obligations of Pabst hereunder (but, subject to the last sentence of this Section 12.10, from and after such assumption Pabst shall not be conditionally discharged from any of its obligations and liabilities under or in connection with this Agreement unless discharged in writing by Optionor and MillerCoors); and (c) a copy of the fully executed assignment and 

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assumption agreement together with evidence of control and ownership shall be delivered to Optionor at least 30 days prior to Closing. Notwithstanding the foregoing, the assignee may not be a Prohibited Transferee. If Pabst assigns this Agreement in accordance with this Section 12.10, Optionor shall not be obligated to use its commercially reasonable efforts to aid Pabst in having consents re-assigned if already obtained or re-assigned or re-issued to Pabst’s assignee. Nothing expressed or referred to in this Agreement will be construed to give any person other than the Parties to this Agreement any legal or equitable right, remedy, or claim under or with respect to this Agreement or any provision of this Agreement.  Notwithstanding anything to the contrary herein, any restriction on Pabst set forth in this Section 12.10 shall be terminated as of the Closing; provided that Section 1.10 (Post-Closing Transactions) shall be in full force and effect.  For the avoidance of doubt, no Sale of Pabst shall constitute an assignment or transfer for purposes of this Section 12.10. 
12.11    Severability.  If any provision of this Agreement is held invalid or unenforceable by any arbitrator or in the case of breaches of the confidentiality obligations or any access agreements, a court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.
12.12    Section Headings, Construction.  The headings of Sections in this Agreement are provided for convenience only and will not affect its construction or interpretation. All references to “Section” or “Sections” refer to the corresponding Section or Sections of this Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms.
12.13    Time of Essence.  With regard to all dates and time periods set forth or referred to in this Agreement, time is of the essence.  
12.14    Governing Law.  This Agreement will be governed by the laws of the State of California, without regard to conflicts of laws principles.
12.15    As-Is Sale. EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF OPTIONOR OR MILLERCOORS SET FORTH HEREIN OR IN ANY DOCUMENT OR INSTRUMENT DELIVERED AT THE CLOSING, PABST ACKNOWLEDGES AND AGREES THAT IT WILL BE PURCHASING THE PURCHASED ASSETS BASED SOLELY UPON ITS INSPECTIONS AND INVESTIGATIONS OF THE PURCHASED ASSETS AND THAT PABST  WILL BE PURCHASING THE PURCHASED ASSETS “AS IS” AND “WITH ALL FAULTS”, BASED UPON THE CONDITION OF THE PURCHASED ASSETS  AS OF THE DATE OF THIS  AGREEMENT,  ORDINARY  WEAR AND TEAR  EXCEPTED, AND THAT, EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES OF OPTIONOR OR MILLERCOORS SET FORTH HEREIN OR IN ANY DOCUMENT OR INSTRUMENT DELIVERED AT THE CLOSING, OPTIONOR AND MILLERCOORS MAKE NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR 

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A PARTICULAR PURPOSE, IN RESPECT OF THE PURCHASED ASSETS. WITHOUT LIMITING THE FOREGOING, PABST  ACKNOWLEDGES THAT, EXCEPT AS MAY OTHERWISE BE SPECIFICALLY SET FORTH ELSEWHERE IN THIS AGREEMENT OR IN ANY DOCUMENT OR INSTRUMENT DELIVERED AT THE CLOSING, NONE OF OPTIONOR, MILLERCOORS, THEIR AFFILIATES, THEIR CONSULTANTS OR AGENTS HAVE MADE ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND UPON WHICH PABST  IS RELYING  AS TO ANY  MATTERS  CONCERNING  THE  PURCHASED ASSETS, INCLUDING, BUT NOT LIMITED TO: (I) THE CONDITION OF THE LAND OR ANY IMPROVEMENTS COMPRISING THE PURCHASED ASSETS; (II) THE EXISTENCE OR NON-EXISTENCE OF ANY POLLUTANT, TOXIC WASTE AND/OR ANY HAZARDOUS MATERIALS OR SUBSTANCES; (III) ECONOMIC PROJECTIONS OR MARKET STUDIES CONCERNING THE PURCHASED ASSETS, OR THE INCOME TO BE DERIVED FROM THE PURCHASED ASSETS; (IV) ANY DEVELOPMENT RIGHTS, TAXES, BONDS, COVENANTS, CONDITIONS AND RESTRICTIONS AFFECTING THE PURCHASED ASSETS;  (V) THE NATURE AND EXTENT OF ANY RIGHT OF WAY, LEASE, LIEN, ENCUMBRANCE, LICENSE, RESERVATION OR OTHER TITLE MATTER; (VI) WATER OR WATER RIGHTS, TOPOGRAPHY, GEOLOGY, DRAINAGE, SOIL OR SUBSOIL OF THE PURCHASED ASSETS; (VII) THE   UTILITIES   SERVING  THE  PURCHASED ASSETS; (VIII) THE  SUITABILITY OF THE PURCHASED ASSETS FOR ANY AND ALL ACTIVITIES AND USES WHICH PABST MAY ELECT TO CONDUCT THEREON; OR (IX) THE COMPLIANCE OF THE PURCHASED ASSETS WITH ANY ZONING, ENVIRONMENTAL, BUILDING  OR OTHER LAWS, RULES OR REGULATIONS AFFECTING THE PURCHASED ASSETS. OPTIONOR AND MILLERCOORS MAKE NO REPRESENTATION OR WARRANTY THAT THE PURCHASED ASSETS COMPLY WITH THE AMERICAN WITH DISABILITIES ACT OR ANY FIRE CODE OR BUILDING CODE. PABST HEREBY RELEASES OPTIONOR, MILLERCOORS, AND THEIR AFFILIATES FROM ANY AND ALL LIABILITY IN CONNECTION WITH ANY ENVIRONMENTAL CLAIMS WHICH PABST OR ANY OTHER PARTY MAY HAVE AGAINST OPTIONOR, MILLERCOORS AND THEIR AFFILIATES AND PABST HEREBY AGREES, SUBJECT TO ITS RIGHTS WITH RESPECT TO BREACH OF REPRESENTATIONS UNDER ARTICLE 3 HEREOF NOT TO ASSERT ANY ENVIRONMENTAL CLAIMS FOR CONTRIBUTION, COST RECOVERY OR OTHERWISE, AGAINST OPTIONOR, MILLERCOORS OR THEIR AFFILIATES RELATING DIRECTLY OR INDIRECTLY TO THE EXISTENCE OF ASBESTOS OR HAZARDOUS MATERIALS OR SUBSTANCES ON, OR ENVIRONMENTAL CONDITIONS OF, THE PURCHASED ASSETS, WHETHER KNOWN OR UNKNOWN.
As further consideration for this release, Optionor, MillerCoors and Pabst hereby agree, represent and warrant that the matters released herein are not limited to matters which are known or disclosed, and the undersigned, and each of them, hereby waive any and all rights and benefits which they, or either of them, now has, or in the future may have, conferred upon them, by virtue of the provisions of Section 1542 of the Civil Code of the State of California which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR 

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AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.

Each party hereto understands and acknowledges the significance and the consequence of the waiver of Section 1542 of the California Civil Code.  Except as otherwise expressly provided for herein, Optionor and MillerCoors agree, represent and warrant that they, and each of them, realize and acknowledge that the factual matters now unknown to them may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and the undersigned further agree, represent and warrant that this release has been negotiated and agreed upon in light of that realization and that they nevertheless hereby intend to release, discharge and acquit each other from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses described herein.

MillerCoors Initials                                       Pabst Initials            Optionor Initials

/s/GH                        /s/ RU                /s/ GH
______________                                           _________________        _________________
Subject to the remedies set forth in this Agreement for breach of representations and warranties, Pabst and its successors in interest release Optionor, MillerCoors and their Affiliates, and its and their respective officers, directors, representatives, successors and assigns (the “Released Parties”), from, and waives all claims and liability against the Released Parties for any environmental condition at or relating to the Purchased Assets whether known or unknown, and further releases the Released Parties from, and waives all liability against the Released Parties attributable to, the environmental condition of the Purchased Assets, including without limitation the presence, discovery, or removal of any Hazardous Materials in, at, under, about, or from the Purchased Assets, or for, connected with, or arising out of any and all claims or causes of action based upon any Environmental Law.  
Without in any way limiting the foregoing, Pabst specifically acknowledges that the Real Property is located within or near a contaminated groundwater plume commonly known as the Baldwin Park Operable Unit of the San Gabriel Valley Superfund Site (“Regional Groundwater Plume”).  Optionor, MillerCoors and their Affiliates do not assume any Liabilities related to the Regional Groundwater Plume in the San Gabriel Valley, and, subject to the rights and remedies for breach of representations and warranties set forth in this Agreement, Pabst and its successors in interest release and waive all claims and liabilities against the Released Parties related to the Regional Groundwater Plume, and Optionor, MillerCoors and their Affiliates release and waive all claims and liabilities against Pabst and its successors in interest related to the Regional Groundwater Plume to the extent that Optionor, MillerCoors or Affiliates have released Hazardous Materials prior to Closing that have caused or contributed to the Regional Groundwater Plume (if any).
12.16    Joint and Several Liability.  MillerCoors and Optionor are and shall be jointly  and severally liable for, and each of MillerCoors and Optionor absolutely and unconditionally guarantees to Pabst, the prompt payment and performance of all liabilities, obligations and agreements of both MillerCoors and Optionor under this Agreement and the Ancillary Documents. 

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12.17    No Third-Party Beneficiaries.  Nothing in this Agreement, express or implied, is intended to confer to any third party any rights or benefits.
12.18    Section References.  References to sections in this Agreement shall also refer in each case to the Schedules corresponding to such sections.
12.19    Interpretation.  This Agreement shall not be construed more strictly against any party than against the other by virtue of the fact that it may have been prepared by counsel for one of such parties, it being recognized that all Parties have contributed substantially and materially to the preparation of this Agreement.  
12.20    Counterparts/Signature.  This Agreement may be executed (a) in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement and (b) by e-mail, .pdf, telecopy or other facsimile signature (each of which shall be deemed an original). 

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IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date first written above.
                    
                    
Pabst Brewing Company, LLC

By: /s/ Eugene Kashper    

Name:  Eugene Kashper    

Title:  Chief Executive Officer    

MillerCoors USA LLC

By: /s/ Gavin Hattersley                

Name:  Gavin Hattersley    

Title:  Chief Executive Officer    

MillerCoors LLC

By: /s/ Gavin Hattersley                

Name:  Gavin Hattersley    

Title:  Chief Executive Officer    

Option Agreement Signature Page

ANNEX A

DEFINITIONS

“AAA” shall have the meaning set forth in Section 12.4(e)(iv). 
“Accounting Disputes” shall have the meaning set forth in Section 12.5.
“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such Person as of the date on which, or at any time during the period for which, the determination of affiliation is being made (for purposes of this definition, the term “control” (including the correlative meanings of the terms “controlled by” and “under common control with”), as used with respect to any Person, means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise).
“Agreement” shall have the meaning set forth in the preamble of this Agreement.
“Allocation Appraisal” shall have the meaning set forth in Section 1.1. 
“Ancillary Agreements” shall have the meaning set forth in Section 2.1(b).
“Appeal” shall have the meaning set forth in Section 9.1(b). 
“Applicable Transfer and Sales Taxes” shall have the meaning set forth in Section 12.1(b). 
“Assignment and Bill of Sale” shall have the meaning set forth in Section 8.2(b). 
“Assumed Contracts” shall have the meaning set forth in Section 1.8. 
“Authorized Persons” shall have the meaning set forth in Section 12.2(c).
“Benefits Plans” shall have the meaning set forth in Section 3.1(m). 
“Brewery” shall have the meaning set forth in the recitals of this Agreement.
“Brewery Assets” shall have the meaning set forth in Section 1.2(a)(i). 
“Brewery Computer Equipment” shall have the meaning set forth in Section 1.2(a)(iii).

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“Brewery IP” shall have the meaning set forth in Section 1.2(h).
“Brewing Agreement” shall mean that certain Brewing Agreement between Pabst Brewing Company, Pearl Brewing Company LLC, Falstaff Brewing Corporation and General Brewing Company LLC, and S&C Co. and Miller Brewing Company, dated as of January 29, 2007, as amended. 
“Business Day” shall mean any day that is not a Saturday, Sunday or other day on which banking institutions in California are authorized or required by law or executive order to close.
“Cancelled Contracts” shall have the meaning set forth in Section 1.8.
“Claim Notice” shall have the meaning set forth in Section 11.4(a).
“Closing” shall have the meaning set forth in Section 1.5(c). 
“Closing Date” shall have the meaning set forth in Section 1.5(c).
“Closure Notice” shall have the meaning set forth in Section 1.5(b). 
“Closure Notice Delivery Date” shall have the meaning set forth in Section 1.5(b).
“Code” means the U.S. Internal Revenue Code of 1986, as amended.
“Compliance” shall have the meaning set forth in Section 1.10(d).
“Condemnation Judgment” shall mean the judgment entered into in the case Metro Gold Line Foothill Extension Construction Authority v MillerCoors LLC case No. BC497583 
“Confidential Information” shall have the meaning set forth in Section 12.2(b). 
“Contracts” means the Equipment Leases, Service Contracts, and any other agreements pertaining solely to the Purchased Assets, but excluding the Master Leases, the TTB Licenses, all Union Contracts and any Excluded Assets.  
“Data Room” shall mean the dedicated proprietary website via which Optionor shares due diligence documentation with Pabst and its Authorized Persons regarding the Transaction. 
“Deed” shall have the meaning set forth in Section 8.2(a). 
“Deposit” shall have the meaning set forth in Section 6.1. 
“Direct Claim” shall have the meaning set forth in Section 11.5.

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“Disclosing Party” shall have the meaning set forth in Section 12.2(b). 
“Dispute” shall have the meaning set forth in Section 12.4(a). 
“Documents” means all documents and information to be delivered pursuant to Section 1.7(a) and all other uploads to the Data Room. 
“Due Diligence List” shall have the meaning set forth in Section 1.7(a).
“Effective Date” shall have the meaning set forth in the preamble of this Agreement.
“Employment Liabilities” shall have the meaning set forth in paragraph (b) of Schedule 1.4.
“Environmental Laws” shall mean all federal, state, local, or other law, rule, regulation, or governmental requirement or restriction of any kind, including, but not limited to, any rules, regulations orders, plan approvals and regulatory policies relating to the protection of human health or the environment (including, without limitation, ambient air, surface water, ground water, land surface or subsurface strata) or regulating the use of or imposing obligations with respect to Hazardous Materials, including, without limitation, (i) the Resource Conservation and Recovery Act, 42 U.S.C.A. § 6901, et seq., and the rules, regulations and orders promulgated thereunder and any state counterparts thereto; (ii) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, 42 U.S.C.A. § 9601, et seq., and the rules, regulations and orders promulgated thereunder and any state counterparts thereto; (iii) the Clean Water Act, 33 U.S.C. § 1251, et seq., and the rules, regulations and orders promulgated thereunder and the state counterparts thereto; (iv) the Clean Air Act, 42 U.S.C. § 7401 et seq., and the rules, regulations and orders promulgated thereunder and the state counterparts thereto; (v) the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq., and the rules, regulations and orders promulgated thereunder; (vi) the Hazardous Materials Transportation Act, 49 U.S.C. § 1801, et seq., and the rules, regulations and orders promulgated thereunder;  (vii) the Occupational Safety and Health Act, 29 U.S.C. § 651 et seq., and the rules, regulations, and orders promulgated thereunder; and (viii) California’s Hazardous Waste Control Law in Cal. Health and Safety Code, Division 20, Chapter 6.5, and the rules, regulations, and orders promulgated thereunder; (ix) any other applicable foreign or U.S. federal, state, local, or other statutes or Laws, and the rules, regulations, and orders promulgated thereunder.  
“Equipment” means the Brewery Assets and Brewery Computer Equipment. 
“Equipment Leases” shall have the meaning set forth in Section 1.2(a)(ii).
“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.  
“ERISA Affiliate” shall have the meaning set forth in Section 3.1(m).  

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“Escrow Agent” shall have the meaning set forth in Section 6.1. 
“Excluded Assets” shall have the meaning set forth in Section 1.2(c).
“Excluded Computer Equipment” shall have the meaning set forth in Section 1.2(c)(ix).
“Excluded Software” shall have the meaning set forth in Section 1.2(c)(viii).
“Excluded Transaction” shall have the meaning set forth in Section 1.10(a).
“Exercise Date” shall have the meaning set forth in Section 1.5(a).
“Exercise Notice” shall have the meaning set forth in Section 1.5(a).
“Financing Transaction” shall mean a lessor or other counterparty in respect of a bona fide sale leaseback, leaseback or other financing transaction.
“Fraud” shall mean the actual knowledge (as opposed to imputed or constructive knowledge) of a Party, with the intent to induce the other party to act or refrain from acting, and such party relied on such inducement.
“Fundamental Covenant” shall have the meaning set forth in Section 4.1(a).
“Fundamental Representations” means the representations and warranties of Optionor and/or MillerCoors, on the one hand, and Pabst, on the other hand, in Section 2.1(a) (Due Organization and Good Standing) and Section 2.1(b) (Authority) and Optionor's and MillerCoors' representations in Section 3.1(g)(ii) and 3.1(g)(iii) (Title and Sufficiency of Assets) of this Agreement.
“Governmental Entity” means any governmental, quasi-governmental or regulatory authority, agency, commission, body, court or other legislative, executive or judicial governmental entity.
“Hazardous Materials” means any hazardous or toxic substance, material, or waste that is or becomes regulated by any Governmental Entity, including, without limitation, any substance, material, or waste that is (i) listed in the United States Department of Transportation Hazardous Materials Table (49 C.F.R. § 172.101 and appendix thereto), (ii) identified by the United States Environmental Protection Agency as a hazardous substance under 40 C.F.R. Part 302, (iii) designated as a “hazardous substance” under Section 311 of the Federal Water Pollution Control Act, 33 U.S.C. § 1317, (iv) defined as a “hazardous waste” under Section 1004 of the Federal Resource Conservation and Recovery Act, 42 U.S.C. § 6901, et seq., (v) defined as a “hazardous substance” under Section 101 of the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. § 9601, et seq., (vi) meets the definition of “waste” under a “hazardous material” under Cal. Health and Safety Code § 25501(n)(1),     (vii) an asbestos containing material, (viii) any petroleum product or material in any way derived from or containing any petroleum product, 

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(ix) any perflourinated, perfluoroalkyl or polyfluoroalkyl compounds or (x) defined as a “hazardous waste,” a “hazardous material,” a “hazardous substance,” a “contaminant,” or a “waste” under any other laws or regulations applicable to the Purchased Assets (all as (i) through (x) above may, from time to time, be amended, revised, supplemented, replaced, or interpreted by rule or regulation).
“HSR Act” shall have the meaning set forth in Section 7.1(i). 
“Improvements” shall have the meaning set forth in the recitals of this Agreement.
“Indemnified Parties” shall have the meaning set forth in Section 11.3(a).
“Indemnifying Party” shall have the meaning set forth in Section 11.4(a).
“Independent Accountants” shall have the meaning set forth in Section 12.5.
“Insurance Policies” shall have the meaning set forth in Section 3.1(h).
“Intellectual Property” shall have the meaning set forth in Section 1.2(c)(xi).
“Land” shall have the meaning set forth in the recitals of this Agreement. 
“Law” means any federal, state, local or foreign, international or transactional law, statute or ordinance, common law, or any rule, regulation, standard, judgment, determination, order, writ, injunction, decree, arbitration award, agency requirement, authorization, license or permit of any Governmental Entity.
“Leased Assets” shall mean those items of personal property that Optionor or MillerCoors leases and uses on the Real Property.
“Leases” shall have the meaning set forth in Section 1.2(a)(x).
“Liabilities” means all debts, liabilities, commitments and obligations of any kind, whether fixed, contingent or absolute, matured or unmatured, liquidated or unliquidated, accrued or not accrued, asserted or not asserted, known or unknown, determined, determinable or otherwise, whenever or however arising (including, whether arising out of any contract or tort based on negligence or strict liability) and whether or not the same would be required by GAAP to be reflected in financial statements or disclosed in the notes thereto.
“Liability Cap” shall mean $10,000,000.
“Liability Disclosure Notice” shall have the meaning set forth in Section 1.3(b).

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“Lien” shall mean mortgage, lien, charge, pledge, security interest, claim or other encumbrance 
“Losses” shall have the meaning set forth in Section 11.2. 
“Mandatory Cure Items” shall have the meaning set forth in Section 1.2(b). 
“Master Leases” shall have the meaning set forth in Section 1.2(a)(ii).
“Material Agreements and Permits” shall have the meaning set forth in Section 4.2. 
“Material Adverse Effect” means any change, occurrence or development, effect, fact or circumstance that, individually or taken together with any other changes, occurrences or developments, effects, facts or circumstances (x) is, or would reasonably be expected to materially adverse to the Purchased Assets taken as a whole or the operation of the Brewery or (y) prevents or would reasonably be expected to prevent, materially delay or materially impair the ability of the Parties to consummate the Transaction.
“Material Consents” shall have the meaning set forth in Section 4.2.
“MC 4.6 Indemnity” shall have the meaning set forth in Schedule 4.6. 
“MillerCoors” shall have the meaning set forth in the preamble of this Agreement. 
“Mineral Rights Profits Participation” shall have the meaning set forth in Section 1.10(b).
“Multiemployer Plans” shall have the meaning set forth in Section 3.1(m). 
“MRO Inventory” shall have the meaning set forth in Section 1.2(a)(i). 
“Non-Pabst Person” shall have the meaning set forth in Section 1.10(b).
“Notice of Intent to Transition” shall have the meaning set forth in Section 1.13.
“Notice Period” shall have the meaning set forth in Section 11.4(a).
 “OFAC” shall have the meaning set forth in Section 2.1(e). 
“Operating Costs” shall have the meaning set forth in Section 9.1(a).
“Option” shall have the meaning set forth in Section 1.1.
“Option Memorandum” shall have the meaning set forth in Section 12.2(h). 

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“Optionor” shall have the meaning set forth in the preamble of this Agreement. 
“Optionor Indemnified Parties” shall have the meaning set forth in Section 11.3(a).
“Optionor Party” means Optionor, MillerCoors and their respective Affiliates. 
“Optionor WARN Liabilities” shall have the meaning set forth in paragraph (a) of Schedule 1.4. 
“Optionor’s Knowledge”, “to Optionor’s Knowledge” and corollary terms shall mean the actual knowledge of the officers of Optionor, without investigation or inquiry.
“Optionor’s Rep Certificate” shall have the meaning set forth in Section 8.2(e). 
“Order” means any order, writ, judgment, award, injunction or decree of any Governmental Entity.
“Pabst” shall have the meaning set forth in the preamble of this Agreement.
“Pabst 4.6 Indemnity” shall have the meaning set forth in Schedule 4.6. 
“Pabst EL Cap” shall have the meaning set forth in paragraph (b) of Schedule 1.4.  
“Pabst Entity” shall have the meaning set forth in Section 12.10. 
“Pabst Indemnified Parties” shall have the meaning set forth in Section 11.2.
“Pabst Inspection Liabilities” shall have the meaning set forth in Section 1.7(g).
“Pabst’s Agents” shall have the meaning set forth in Section 1.7(b). 
“Pabst’s Hiring Liability” shall have the meaning set forth in Section 1.3(d).
“Pabst WARN Liabilities” shall have the meaning set forth in paragraph (a) of Schedule 1.4. 
“Participation Right” shall have the meaning set forth in Section 1.10(a).
“Party” and “Parties” shall have the meanings set forth in the preamble of this Agreement.
“Permits” shall have the meaning set forth in Section 1.2(a)(vi). 

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“Permitted Liens” shall have the meaning set forth in Section 1.2(b). 
“Person” means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, other legal entity of any kind or any governmental entity.   
“Personal Property” shall have the meaning set forth in Section 3.1(g)(iii).
“Pits” shall have the meaning set forth in Section 1.10(a). 
“Plant Closure” shall have the meaning set forth in Section 1.5(b).
“Prohibited Transferees” shall have the meaning set forth in Section 1.10(c). 
“Purchased Assets” shall have the meaning set forth in Section 1.2(a). 
“Purchase Price” shall have the meaning set forth in Section 1.1.
“Purpose” shall have the meaning set forth in Section 12.2(b). 
“Qualifying Transaction” shall have the meaning set forth in Section 1.10(a).
“Real Property” shall have the meaning set forth in Section 1.2(a). 
“Recipient” shall have the meaning set forth in Section 12.2(b). 
“Records” shall have the meaning set forth in Section 1.2(a)(vii).
“Regional Groundwater Plume” shall have the meaning set forth in Section 12.15.
“Released Parties” shall have the meaning set forth in Section 12.15. 
“Representation Date” shall have the meaning set forth in Section 3.1.
“Representation Schedule Update” shall have the meaning set forth in Section 4.1(i).
“Sale of Pabst” shall have the meaning set forth in Section 1.10(c).
“Schedules” shall mean all schedules referenced in this Agreement, including without limitation all Representation Schedule Updates. 
“Security Interest” shall have the meaning set forth in the definition of “Security Transaction.”
“Security Transaction” shall mean the granting of any mortgages, pledges, security interests or similar encumbrances on the Purchased Assets or any portions thereof 

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or any direct or indirect ownership interests therein (collectively, “Security Interests”), a foreclosure or other enforcement of any Security Interest, a deed or assignment in lieu of a foreclosure or other enforcement of a Security Interest, or a sale or transfer by any lender or its designee (or any other person) following a foreclosure, deed or assignment in lieu of foreclosure or other enforcement of a Security Interest.
“Service Contracts” shall have the meaning set forth in Section 1.2(a)(v).
“Settlement Agreement” shall have the meaning set forth in the recitals of this Agreement.
“Signage” shall have the meaning set forth in Section 1.2(d).
“Supplier List” shall have the meaning set forth in Section 4.4.
“Survey” shall have the meaning set forth in Section 1.7(b). 
“Survival Period” shall have the meaning set forth in Section 11.1(b).
“Tax Returns” shall have the meaning set forth in Section 1.1.
“Third Party Claim” shall have the meaning set forth in Section 11.4(a).
“Title Company” shall have the meaning set forth in Section 6.1. 
“Title Policy” shall have the meaning set forth in Section 12.1(b). 
“Transaction” shall have the meaning set forth in Section 3.1(b)(i). 
“Transfer Tax Returns” shall have the meaning set forth in Section 8.2(i). 
“Transferred Software” shall have the meaning set forth in Section 1.2(a)(iii).
“Transition Outline” shall have the meaning set forth in Section 1.7(a).
“Transition Services Agreement” shall have the meaning set forth in Section 1.5(d). 
“TTB Licenses” shall have the meaning set forth in Section 1.2(a)(vi). 
“WARN Laws” shall have the meaning set forth in paragraph (a) of Schedule 1.4. 
“Water Supply Agreement” means that certain Amended and Restated Water Supply Agreement, dated as of February 23, 2009, by and between MillerCoors and the City of Azusa, California, a California municipal corporation, as amended from time to time.

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