Document:

EX-4.1

 Exhibit 4.1 
  

 
  

MCDERMOTT INTERNATIONAL, INC. 

as Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE 

as Trustee 
  

 
 Indenture 

Dated as of April 7, 2014 
  

 
 Senior Debt
Securities 
  
  

 

 MCDERMOTT INTERNATIONAL, INC.

 Reconciliation and tie between Trust Indenture Act of 1939 

and Indenture, dated as of April 7, 2014 
  

 
  

							
	 Section of

Trust Indenture

Act of 1939
	 	 	  	 Section(s) of
Indenture

				
	 § 310
	 	 (a)(1)
	 		  	7.10
		 	 (a)(2)
	 		  	7.10
		 	 (a)(3)
	 		  	Not Applicable
		 	 (a)(4)
	 		  	Not Applicable
		 	 (a)(5)
	 		  	7.10
		 	 (b)
	 		  	7.08, 7.10
	 § 311
	 	 (a)
	 		  	7.11
		 	 (b)
	 		  	7.11
		 	 (c)
	 		  	Not Applicable
	 § 312
	 	 (a)
	 		  	2.07
		 	 (b)
	 		  	10.03
		 	 (c)
	 		  	10.03
	 § 313
	 	 (a)
	 		  	7.06
		 	 (b)
	 		  	7.06
		 	 (c)
	 		  	7.06
		 	 (d)
	 		  	7.06
	 § 314
	 	 (a)
	 		  	4.03, 4.04
		 	 (b)
	 		  	Not Applicable
		 	 (c)(1)
	 		  	10.04
		 	 (c)(2)
	 		  	10.04
		 	 (c)(3)
	 		  	Not Applicable
		 	 (d)
	 		  	Not Applicable
		 	 (e)
	 		  	10.05
	 § 315
	 	 (a)
	 		  	7.01(b)
		 	 (b)
	 		  	7.05
		 	 (c)
	 		  	7.01(a)
		 	 (d)
	 		  	7.01(c)
		 	 (d)(1)
	 		  	7.01(c)(1)
		 	 (d)(2)
	 		  	7.01(c)(2)
		 	 (d)(3)
	 		  	7.01(c)(3)
		 	 (e)
	 		  	6.11
	 § 316
	 	 (a)(1)(A)
	 		  	6.05
		 	 (a)(1)(B)
	 		  	6.04
		 	 (a)(2)
	 		  	Not Applicable
		 	 (a)(last sentence)
	 		  	2.11
		 	 (b)
	 		  	6.07
	 § 317
	 	 (a)(1)
	 		  	6.08
		 	 (a)(2)
	 		  	6.09
		 	 (b)
	 		  	2.06
	 § 318
	 	 (a)
	 		  	10.01

  
 Note: This
reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 SECTION 1.01
	  	 Definitions.
	  	 	1	  
	 SECTION 1.02
	  	 Other Definitions.
	  	 	5	  
	 SECTION 1.03
	  	 Incorporation by Reference of Trust Indenture Act.
	  	 	5	  
	 SECTION 1.04
	  	 Rules of Construction.
	  	 	5	  
		
	 ARTICLE II THE SECURITIES
	  	 	6	  
	 SECTION 2.01
	  	 Amount Unlimited; Issuable in Series.
	  	 	6	  
	 SECTION 2.02
	  	 Denominations.
	  	 	9	  
	 SECTION 2.03
	  	 Forms Generally.
	  	 	9	  
	 SECTION 2.04
	  	 Execution, Authentication, Delivery and Dating.
	  	 	9	  
	 SECTION 2.05
	  	 Registrar and Paying Agent.
	  	 	11	  
	 SECTION 2.06
	  	 Paying Agent to Hold Money in Trust.
	  	 	11	  
	 SECTION 2.07
	  	 Holder Lists.
	  	 	12	  
	 SECTION 2.08
	  	 Transfer and Exchange.
	  	 	12	  
	 SECTION 2.09
	  	 Replacement Securities.
	  	 	13	  
	 SECTION 2.10
	  	 Outstanding Securities.
	  	 	13	  
	 SECTION 2.11
	  	 Original Issue Discount, Foreign-Currency Denominated and Treasury Securities.
	  	 	13	  
	 SECTION 2.12
	  	 Temporary Securities.
	  	 	14	  
	 SECTION 2.13
	  	 Cancellation.
	  	 	14	  
	 SECTION 2.14
	  	 Payments; Defaulted Interest.
	  	 	14	  
	 SECTION 2.15
	  	 Persons Deemed Owners.
	  	 	15	  
	 SECTION 2.16
	  	 Computation of Interest.
	  	 	15	  
	 SECTION 2.17
	  	 Global Securities; Book-Entry Provisions.
	  	 	15	  
	 SECTION 2.18
	  	 CUSIP Numbers.
	  	 	17	  
		
	 ARTICLE III REDEMPTION
	  	 	17	  
	 SECTION 3.01
	  	 Applicability of Article.
	  	 	17	  
	 SECTION 3.02
	  	 Notice to the Trustee.
	  	 	18	  
	 SECTION 3.03
	  	 Selection of Securities To Be Redeemed.
	  	 	18	  
	 SECTION 3.04
	  	 Notice of Redemption.
	  	 	18	  
	 SECTION 3.05
	  	 Effect of Notice of Redemption.
	  	 	19	  
	 SECTION 3.06
	  	 Deposit of Redemption Price.
	  	 	19	  
	 SECTION 3.07
	  	 Securities Redeemed or Purchased in Part.
	  	 	20	  
	 SECTION 3.08
	  	 Purchase of Securities.
	  	 	20	  
	 SECTION 3.09
	  	 Mandatory and Optional Sinking Funds.
	  	 	20	  
	 SECTION 3.10
	  	 Satisfaction of Sinking Fund Payments with Securities.
	  	 	20	  
	 SECTION 3.11
	  	 Redemption of Securities for Sinking Fund.
	  	 	21	  
		
	 ARTICLE IV COVENANTS
	  	 	21	  
	 SECTION 4.01
	  	 Payment of Securities.
	  	 	21	  

  
 i 

							
	 SECTION 4.02
	  	 Maintenance of Office or Agency.
	  	 	22	  
	 SECTION 4.03
	  	 SEC Reports; Financial Statements.
	  	 	22	  
	 SECTION 4.04
	  	 Compliance Certificate.
	  	 	23	  
	 SECTION 4.05
	  	 Existence.
	  	 	23	  
	 SECTION 4.06
	  	 Waiver of Stay, Extension or Usury Laws.
	  	 	23	  
	 SECTION 4.07
	  	 Additional Amounts.
	  	 	24	  
		
	 ARTICLE V SUCCESSORS
	  	 	24	  
	 SECTION 5.01
	  	 Limitations on Mergers, Consolidations and Other Transactions.
	  	 	24	  
	 SECTION 5.02
	  	 Successor Person Substituted.
	  	 	24	  
		
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	25	  
	 SECTION 6.01
	  	 Events of Default.
	  	 	25	  
	 SECTION 6.02
	  	 Acceleration.
	  	 	27	  
	 SECTION 6.03
	  	 Other Remedies.
	  	 	27	  
	 SECTION 6.04
	  	 Waiver of Defaults.
	  	 	28	  
	 SECTION 6.05
	  	 Control by Majority.
	  	 	28	  
	 SECTION 6.06
	  	 Limitations on Suits.
	  	 	28	  
	 SECTION 6.07
	  	 Rights of Holders to Receive Payment.
	  	 	29	  
	 SECTION 6.08
	  	 Collection Suit by Trustee.
	  	 	29	  
	 SECTION 6.09
	  	 Trustee May File Proofs of Claim.
	  	 	29	  
	 SECTION 6.10
	  	 Priorities.
	  	 	30	  
	 SECTION 6.11
	  	 Undertaking for Costs.
	  	 	31	  
		
	 ARTICLE VII TRUSTEE
	  	 	31	  
	 SECTION 7.01
	  	 Duties of Trustee.
	  	 	31	  
	 SECTION 7.02
	  	 Rights of Trustee.
	  	 	32	  
	 SECTION 7.03
	  	 May Hold Securities.
	  	 	33	  
	 SECTION 7.04
	  	 Trustee’s Disclaimer.
	  	 	33	  
	 SECTION 7.05
	  	 Notice of Defaults.
	  	 	34	  
	 SECTION 7.06
	  	 Reports by Trustee to Holders.
	  	 	34	  
	 SECTION 7.07
	  	 Compensation and Indemnity.
	  	 	34	  
	 SECTION 7.08
	  	 Replacement of Trustee.
	  	 	35	  
	 SECTION 7.09
	  	 Successor Trustee by Merger, etc.
	  	 	36	  
	 SECTION 7.10
	  	 Eligibility; Disqualification.
	  	 	37	  
	 SECTION 7.11
	  	 Preferential Collection of Claims Against the Company.
	  	 	37	  
		
	 ARTICLE VIII DISCHARGE OF INDENTURE
	  	 	37	  
	 SECTION 8.01
	  	 Termination of the Company’s Obligations.
	  	 	37	  
	 SECTION 8.02
	  	 Application of Trust Money.
	  	 	41	  
	 SECTION 8.03
	  	 Repayment to Company.
	  	 	41	  
	 SECTION 8.04
	  	 Reinstatement.
	  	 	41	  
	 SECTION 8.05
	  	 Government Obligations.
	  	 	42	  
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES AND AMENDMENTS
	  	 	42	  
	 SECTION 9.01
	  	 Without Consent of Holders.
	  	 	42	  
	 SECTION 9.02
	  	 With Consent of Holders.
	  	 	43	  

  
 ii 

							
	 SECTION 9.03
	  	 Compliance with Trust Indenture Act.
	  	 	45	  
	 SECTION 9.04
	  	 Revocation and Effect of Consents.
	  	 	45	  
	 SECTION 9.05
	  	 Notation on or Exchange of Securities.
	  	 	46	  
	 SECTION 9.06
	  	 Trustee to Sign Amendments, etc.
	  	 	46	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	46	  
	 SECTION 10.01
	  	 Trust Indenture Act Controls.
	  	 	46	  
	 SECTION 10.02
	  	 Notices.
	  	 	47	  
	 SECTION 10.03
	  	 Communication by Holders with Other Holders.
	  	 	48	  
	 SECTION 10.04
	  	 Certificate and Opinion as to Conditions Precedent.
	  	 	48	  
	 SECTION 10.05
	  	 Statements Required in Certificate or Opinion.
	  	 	48	  
	 SECTION 10.06
	  	 Rules by Trustee and Agents.
	  	 	48	  
	 SECTION 10.07
	  	 Legal Holidays.
	  	 	49	  
	 SECTION 10.08
	  	 No Recourse Against Others.
	  	 	49	  
	 SECTION 10.09
	  	 Governing Law.
	  	 	49	  
	 SECTION 10.10
	  	 Waiver of Jury Trial.
	  	 	49	  
	 SECTION 10.11
	  	 Force Majeure.
	  	 	49	  
	 SECTION 10.12
	  	 No Adverse Interpretation of Other Agreements.
	  	 	49	  
	 SECTION 10.13
	  	 Successors.
	  	 	50	  
	 SECTION 10.14
	  	 Severability.
	  	 	50	  
	 SECTION 10.15
	  	 Counterpart Originals.
	  	 	50	  
	 SECTION 10.16
	  	 Table of Contents, Headings, etc.
	  	 	50	  

  
 iii 

 INDENTURE dated as of April 7, 2014 between McDermott International, Inc., a corporation
organized under the laws of the Republic of Panama (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company’s
unsecured debentures, notes or other evidences of indebtedness (the “Securities”) to be issued from time to time in one or more series as provided in this Indenture: 

ARTICLE I 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 SECTION 1.01 Definitions. 

“Additional Amounts” means any additional amounts required by the express terms of a Security or by or pursuant to a Board
Resolution, under circumstances specified therein or pursuant thereto, to be paid by the Company with respect to certain taxes, assessments or other governmental charges imposed on certain Holders and that are owing to those Holders. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by, or under direct or
indirect common control with, that specified Person. For purposes of this definition, “control” of a Person shall mean the power to direct the management and policies of that Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise, and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing. 

“Agent” means any Registrar or Paying Agent. 

“Bankruptcy Law” means Title 11 of the United States Code or any similar federal, state or foreign law for the relief of debtors.

 “Board of Directors” means the Board of Directors of the Company or any committee thereof duly authorized, with respect to any
particular matter, to act by or on behalf of the Board of Directors of the Company. 
 “Board Resolution” means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of that certification, and delivered to the Trustee. 

“Business Day” means any day that is not a Legal Holiday. 

“Capital Stock” means, with respect to any Person, any and all shares, interests, rights to purchase (other than convertible or
exchangeable Indebtedness), warrants, options, participations or other equivalents of or interests (however designated) in equity issued by that Person. 

“Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall
have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean that successor Person; provided, however, that for purposes of any provision contained herein which is required by the TIA,
“Company” shall also mean each other obligor (if any) on the Securities of a series. 

  
 1 

 “Company Order” and “Company Request” mean, respectively, a written order or
request signed in the name of the Company by two Officers of the Company, and delivered to the Trustee. 
 “Corporate Trust
Office” of the Trustee means the office of the Trustee at the address specified in Section 10.02 or as may be located at such other address as the Trustee may give notice to the Company. 

“Default” means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of Default.

 “Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in global form, the
Person specified pursuant to Section 2.01 hereof as the initial Depositary with respect to the Securities of that series, until a successor shall have been appointed and become such pursuant to the applicable provision of this Indenture, and
thereafter “Depositary” shall mean or include that successor. 
 “Dollar” or “$” means a dollar or other
equivalent unit in such coin or currency of the United States as at the time shall be legal tender for the payment of public and private debt. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor statute. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant
segment of the accounting profession of the United States, as in effect from time to time. 
 “Global Security” of any series
means a Security of that Series that is issued in global form in the name of the Depositary with respect thereto or its nominee. 

“Government Obligations” means, with respect to a series of Securities, direct obligations of the government that issues the
currency in which the Securities of the series are payable for the payment of which the full faith and credit of that government is pledged, or obligations of a Person controlled or supervised by and acting as an agency or instrumentality of that
government, the payment of which is unconditionally guaranteed as a full faith and credit obligation by that government. 

“Holder” means a Person in whose name a Security is registered. 

“Indenture” means this Indenture as amended or supplemented from time to time pursuant to the provisions hereof, and includes the
terms of a particular series of Securities established as contemplated by Section 2.01. 

  
 2 

 “interest” means, with respect to an Original Issue Discount Security that by its terms
bears interest only after Maturity, interest payable after Maturity. 
 “Interest Payment Date,” when used with respect to any
Security, shall have the meaning assigned to that term in the Security as contemplated by Section 2.01. 
 “Issue Date”
means, with respect to Securities of a series, the date on which the Securities of that series are originally issued under this Indenture. 

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in any of The City of New York, New York, Houston,
Texas or a Place of Payment are authorized or obligated by law, regulation or executive order to remain closed. 
 “Maturity”
means, with respect to any Security, the date on which the principal of that Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity thereof, or by declaration of acceleration,
call for redemption or otherwise. 
 “Officer” means the Chairman of the Board, the President, any Vice Chairman of the Board, any
Vice President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of a Person. 

“Officers’ Certificate” means a certificate signed by two Officers of a Person. 

“Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. That counsel may be an
employee of or counsel to the Company or the Trustee. 
 “Original Issue Discount Security” means any Security that provides for
an amount less than the principal amount thereof to be due and payable on a declaration of acceleration of the Maturity thereof pursuant to Section 6.02. 

“Person” means any individual, corporation, partnership, limited liability company, joint venture, incorporated or unincorporated
association, joint stock company, trust, unincorporated organization or government or other agency or political subdivision thereof or other entity of any kind. 

“Place of Payment” means, with respect to the Securities of any series, the place or places where, subject to the provisions of
Section 4.02, the principal of, premium (if any) on and interest on and any Additional Amounts with respect to the Securities of that series are payable as specified in accordance with Section 2.01. 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on the Security. 

“Redemption Date” means, with respect to any Security to be redeemed, the date fixed for that redemption by or pursuant to this
Indenture. 

  
 3 

 “Redemption Price” means, with respect to any Security to be redeemed, the price at
which it is to be redeemed pursuant to this Indenture. 
 “Responsible Officer” means any officer within the corporate trust
department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of this Indenture. 
 “Rule 144A Securities” means Securities of a series designated pursuant to Section 2.01
as entitled to the benefits of Section 4.03(b). 
 “SEC” means the Securities and Exchange Commission. 

“Securities” has the meaning stated in the preamble of this Indenture and more particularly means any Securities authenticated and
delivered under this Indenture. 
 “Security Custodian” means, with respect to Securities of a series issued in global form, the
Trustee for Securities of that series, as custodian with respect to the Securities of that series, or any successor entity thereto. 

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

“Subsidiary” means a Person at least a majority of the outstanding voting stock of which is owned, directly or indirectly, by the
Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock that ordinarily has voting power for the election of directors, whether at
all times or only so long as no senior class of stock has that voting power by reason of any contingency. 
 “TIA” means the Trust
Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb), as in effect on the date hereof. 
 “Trustee” means the
Person named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture, and thereafter “Trustee” means each Person who is then a Trustee hereunder, and if at any time there is more than one
such Person, “Trustee” as used with respect to the Securities of any series means the Trustee with respect to Securities of that series. 

“United States” means the United States of America (including the States and the District of Columbia) and its territories and
possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands). 

“U.S. Government Obligations” means Government Obligations with respect to Securities payable in Dollars. 

  
 4 

 SECTION 1.02 Other Definitions. 

 

			
	 Defined Term
	  	Defined
in Section
		
	 “Bankruptcy Custodian”
	  	6.01
	 “Conversion Event”
	  	6.01
	 “covenant defeasance”
	  	8.01
	 “Event of Default”
	  	6.01
	 “Exchange Rate”
	  	2.11
	 “Judgment Currency”
	  	6.10
	 “legal defeasance”
	  	8.01
	 “mandatory sinking fund payment”
	  	3.09
	 “optional sinking fund payment”
	  	3.09
	 “Paying Agent”
	  	2.05
	 “Registrar”
	  	2.05
	 “Required Currency”
	  	6.10
	 “Successor”
	  	5.01

 SECTION 1.03 Incorporation by Reference of Trust Indenture Act. 

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

“indenture securities” means the Securities. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

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

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

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

Unless the context otherwise requires: 

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

  
 5 

 (2) an accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP; 
 (3) “or” is not exclusive; 

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

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

(6) all references in this instrument to Articles and Sections are references to the corresponding Articles and Sections in and
of this instrument. 
 ARTICLE II 

THE SECURITIES 
 SECTION 2.01
Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board
Resolution, and set forth, or determined in a manner provided, in an Officers’ Certificate or in a Company Order, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

(1) the title of the Securities of the series (which shall distinguish the Securities of the series from the Securities of all
other series); 
 (2) if there is to be a limit, the limit on the aggregate principal amount of the Securities of the series
that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered on registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.08, 2.09,
2.12, 2.17, 3.07 or 9.05 and except for any Securities that, pursuant to Section 2.04 or 2.17, are deemed never to have been authenticated and delivered hereunder); provided, however, that unless otherwise provided in the terms of the series,
the authorized aggregate principal amount of that series may be increased before or after the issuance of any Securities of the series by a Board Resolution (or action pursuant to a Board Resolution) to that effect; 

(3) whether any Securities of the series are to be issuable initially in temporary global form and whether any Securities of
the series are to be issuable in permanent global form, as Global Securities or otherwise, and, if so, whether beneficial owners of interests in any such Global Security may exchange those interests for Securities of that series and of like tenor of
any authorized form and denomination and the circumstances under which those exchanges may occur, if other than in the manner provided in Section 2.17, and the initial Depositary and Security Custodian, if any, for any Global Security or
Securities of that series; 

  
 6 

 (4) (i) if other than provided herein, the Person to whom any interest on
Securities of the series shall be payable, and (ii) the manner in which any interest payable on a temporary Global Security on any Interest Payment Date will be paid if other than in the manner provided in Section 2.14; 

(5) the date or dates on which the principal of (and premium, if any, on) the Securities of the series is payable or the method
of determination thereof; 
 (6) the rate or rates, or the method of determination thereof, at which the Securities of the
series shall bear interest, if any, whether and under what circumstances Additional Amounts with respect to those Securities shall be payable, the date or dates from which that interest shall accrue, the Interest Payment Dates on which that interest
shall be payable and the record date for the interest payable on any Securities on any Interest Payment Date; 
 (7) the
place or places where, subject to the provisions of Section 4.02, the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of the series shall be payable; 

(8) the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and
the terms and conditions on which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is to have that option, and the manner in which the Company may exercise any such option, if different from
those set forth herein; 
 (9) the obligation, if any, of the Company to redeem, purchase or repay Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions on
which Securities of the series shall be redeemed, purchased or repaid in whole or in part pursuant to that obligation; 

(10) if other than denominations of $1,000 and any integral multiple thereof, the denomination in which any Securities of that
series shall be issuable; 
 (11) if other than Dollars, the currency or currencies (including composite currencies) or the
form, including equity securities, other debt securities (including Securities), warrants or any other securities or property of the Company or any other Person, in which payment of the principal of, premium (if any) and interest on and any
Additional Amounts with respect to the Securities of the series shall be payable; 
 (12) if the principal of, premium (if
any) or interest on or any Additional Amounts with respect to the Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies (including composite currencies) other than that in which
the Securities are stated to be payable, the currency or currencies (including composite currencies) in which payment of the principal, premium (if any), interest and any Additional Amounts with respect to Securities of that series as to which that
election is made shall be payable, and the periods within which and the terms and conditions on which that election is to be made; 

  
 7 

 (13) if the amount of payments of principal, premium (if any), interest and any
Additional Amounts with respect to the Securities of the series may be determined with reference to any commodities, currencies or indices, values, rates or prices or any other index or formula, the manner in which those amounts shall be determined;

 (14) if other than the entire principal amount thereof, the portion of the principal amount of Securities of the series
that shall be payable on declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 
 (15) any
additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with respect to Securities of the series pursuant to Article VIII or any modifications of or deletions from those conditions
or limitations; 
 (16) any deletions or modifications of or additions to the Events of Default set forth in
Section 6.01 or covenants of the Company set forth in Article IV pertaining to the Securities of the series; 
 (17) any
restrictions or other provisions with respect to the transfer or exchange of Securities of the series, which may amend, supplement, modify or supersede those contained in this Article II; 

(18) if the Securities of the series are to be convertible into or exchangeable for Capital Stock, other debt securities
(including Securities), warrants, other equity securities or any other securities or property of the Company or any other Person, at the option of the Company or the Holder or on the occurrence of any condition or event, the terms and conditions for
that conversion or exchange; 
 (19) if the Securities of the series are to be entitled to the benefit of
Section 4.03(b) (and accordingly constitute Rule 144A Securities), that fact; and 
 (20) any other terms of the series
(which terms shall not be prohibited by the provisions of this Indenture). 
 All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 2.03) set forth, or determined in the manner provided, in the Officers’
Certificate or Company Order referred to above or in any such indenture supplemental hereto. 
 If any of the terms of the series are
established by action taken pursuant to a Board Resolution, a copy of an appropriate record of that action together with that Board Resolution shall be set forth in an Officers’ Certificate or certified by the Secretary or an Assistant
Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate or Company Order setting forth the terms of the series. 

  
 8 

 SECTION 2.02 Denominations. 

The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 2.01. In the
absence of any such provisions with respect to the Securities of any series, the Securities of that series denominated in Dollars shall be issuable in denominations of $1,000 and any integral multiples thereof. 

SECTION 2.03 Forms Generally. 

The Securities of each series shall be in fully registered form and in substantially the form or forms (including temporary or permanent
global form) established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto. The Securities may have notations, legends or endorsements required by law, securities exchange rule, the Company’s certificate of
incorporation, bylaws or other similar governing documents, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company). A copy of the Board Resolution
establishing the form or forms of Securities of any series shall be delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 2.04 for the authentication and delivery of those Securities. 

The definitive Securities of each series shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other
manner, all as determined by the Officers executing those Securities, as evidenced by their execution thereof. 
 The Trustee’s
certificate of authentication shall be in substantially the following form: 
 “This is one of the Securities of the
series designated therein referred to in the within-mentioned Indenture. 
  

			
	U.S. Bank National Association, as Trustee
		
	By:	 	  

		 	Authorized Officer”.

 SECTION 2.04 Execution, Authentication, Delivery and Dating. 

Two Officers of the Company shall sign the Securities of each series on behalf of the Company by manual or facsimile signature. 

If an Officer of the Company whose signature is on a Security no longer holds that office at the time the Security is authenticated, the
Security shall be valid nevertheless. 
 A Security shall not be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose until authenticated by the manual signature of an authorized signatory of the Trustee, which signature shall be conclusive evidence that the Security has been authenticated under this Indenture. Notwithstanding the foregoing, if any
Security has been authenticated and delivered hereunder but never issued and sold by the Company, and the Company delivers that Security to the Trustee for cancellation as provided in Section 2.13

  
 9 

 
together with a written statement (which need not comply with Section 10.05 and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by
the Company, for all purposes of this Indenture that Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, and the Trustee shall authenticate and deliver those Securities for original issue on a Company Order for the authentication and delivery of those Securities. That order shall specify the
amount of the Securities to be authenticated, the date on which the original issue of Securities is to be authenticated, the name or names of the initial Holder or Holders and any other terms of the Securities of that series not otherwise
determined. If provided for in those procedures, that Company Order may authorize (1) authentication and delivery of Securities of that series for original issue from time to time, with certain terms (including, without limitation, the Maturity
date or dates, original issue date or dates and interest rate or rates) that differ from Security to Security and (2) may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized
agent, which instructions shall be promptly confirmed in writing. 
 If the form or terms of the Securities of the series have been
established in or pursuant to one or more Board Resolutions as permitted by Section 2.01, in authenticating those Securities, and accepting the additional responsibilities under this Indenture in relation to those Securities, the Trustee shall
be entitled to receive (in addition to the Company Order referred to above and the other documents required by Section 10.04), and (subject to Section 7.01) shall be fully protected in relying on, 

(a) an Officers’ Certificate setting forth the Board Resolution and, if applicable, an appropriate record of any action
taken pursuant thereto, as contemplated by the last paragraph of Section 2.01; and 
 (b) an Opinion of Counsel to the
effect that: 
 (i) the form of those Securities has been established in conformity with the provisions of this Indenture;

 (ii) the terms of those Securities have been established in conformity with the provisions of this Indenture; and 

(iii) those Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to
any conditions specified in that Opinion of Counsel, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws in effect from time to time affecting the rights of creditors generally, and the application of general principles of equity (regardless of whether that
enforceability is considered in a proceeding in equity or at law). 

  
 10 

 If all the Securities of any series are not to be issued at one time, it shall not be necessary
to deliver an Officers’ Certificate and Opinion of Counsel at the time of issuance of each such Security, but that Officers’ Certificate and Opinion of Counsel shall be delivered at or before the time of issuance of the first Security of
the series to be issued. 
 The Trustee shall not be required to authenticate those Securities if the issuance of those Securities pursuant
to this Indenture would affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. Unless limited by the terms of that
appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by that agent. An authenticating agent has the same rights as
an Agent to deal with the Company or an Affiliate of the Company. 
 Each Security shall be dated the date of its authentication. 

SECTION 2.05 Registrar and Paying Agent. 

The Company shall maintain an office or agency for each series of Securities where Securities of that series may be presented for registration
of transfer or exchange (“Registrar”) and an office or agency where Securities of that series may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Securities of that series and of their
transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar, and the term “Paying Agent” includes any additional paying agent.

 The Company shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture. The
agreement shall implement the provisions of this Indenture that relate to that Agent. The Company shall notify the Trustee of the name and address of any Agent not a party to this Indenture. The Company may change any Paying Agent or Registrar
without notice to any Holder. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any Subsidiary may act as Paying Agent or Registrar. 

The Company initially appoints the Trustee as Registrar and Paying Agent. 

SECTION 2.06 Paying Agent to Hold Money in Trust. 

With respect to each series of Securities, the Company shall require each Paying Agent other than the Trustee to agree in writing that the
Paying Agent will hold in trust for the benefit of Holders of Securities of that series or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, or interest on or any Additional Amounts with respect to
Securities of that series and will notify the Trustee of any default by the Company in making 

  
 11 

 
any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon payment over to the Trustee and upon accounting for any funds disbursed, the Paying Agent (if other than the Company or a
Subsidiary of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent with respect to a series of Securities, it shall segregate and hold in a separate trust fund for the benefit
of the Holders of Securities of that series all money held by it as Paying Agent. Each Paying Agent shall otherwise comply with TIA § 317(b). 

SECTION 2.07 Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of Holders of each series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar with respect to a series of Securities, the Company shall furnish to the Trustee at least five Business Days before each
Interest Payment Date with respect to that series of Securities, and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of
the Securities of that series, and the Company shall otherwise comply with TIA § 312(a). 
 SECTION 2.08 Transfer and Exchange.

 Except as set forth in Section 2.17 or as may be provided pursuant to Section 2.01, when Securities of any series are presented
to the Registrar with the request to register the transfer of those Securities or to exchange those Securities for an equal principal amount of Securities of the same series of like tenor and of other authorized denominations, the Registrar shall
register the transfer or make the exchange as requested if its requirements and the requirements of this Indenture for those transactions are met; provided, however, that the Securities presented or surrendered for registration of transfer or
exchange shall be duly endorsed or accompanied by a written instruction of transfer in form reasonably satisfactory to the Registrar duly executed by the Holder thereof or by his attorney, duly authorized in writing, on which instruction the
Registrar can rely. 
 To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate
Securities at the Registrar’s written request and submission of the Securities (or Global Securities). No service charge shall be made to a Holder for any registration of transfer or exchange (except as otherwise expressly permitted herein),
but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than such transfer tax or similar governmental charge payable on exchanges pursuant to
Section 2.12, 3.07 or 9.05). The Trustee shall authenticate Securities in accordance with the provisions of Section 2.04. Notwithstanding any other provisions of this Indenture to the contrary, the Company shall not be required to register
the transfer or exchange of (a) any Security selected for redemption in whole or in part pursuant to Article III, except the unredeemed portion of any Security being redeemed in part or (b) any Security during the period beginning 15
Business Days before the mailing of notice of any offer to repurchase Securities of the series required pursuant to the terms thereof or of redemption of Securities of a series to be redeemed and ending at the close of business on the date of
mailing. 

  
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 SECTION 2.09 Replacement Securities. 

If any mutilated Security is surrendered to the Trustee, or if the Holder of a Security claims that the Security has been destroyed, lost or
stolen and the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of that Security, the Company shall issue and the Trustee shall authenticate a replacement Security of the same series if the
Trustee’s requirements are met. If any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay that Security. If required by
the Trustee or the Company, the Holder must furnish an indemnity bond that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent or any authenticating agent from any loss that any of them may
suffer if a Security is replaced. The Company and the Trustee may charge the Holder for their expenses in replacing a Security. 
 Every
replacement Security is an additional obligation of the Company. 
 SECTION 2.10 Outstanding Securities. 

The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to
it for cancellation, those reductions in the interest in a Global Security effected by the Trustee hereunder and those described in this Section 2.10 as not outstanding. 

If a Security is replaced pursuant to Section 2.09, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that
the replaced Security is held by a bona fide purchaser. 
 If the principal amount of any Security is considered paid under
Section 4.01, it ceases to be outstanding and interest on it ceases to accrue. 
 A Security does not cease to be outstanding because
the Company or an Affiliate of the Company holds the Security. 
 SECTION 2.11 Original Issue Discount, Foreign-Currency Denominated and
Treasury Securities. 
 In determining whether the Holders of the required principal amount of Securities have concurred in any
direction, amendment, supplement, waiver or consent, (a) the principal amount of an Original Issue Discount Security shall be the principal amount thereof that would be due and payable as of the date of that determination upon acceleration of
the Maturity thereof pursuant to Section 6.02, (b) the principal amount of a Security denominated in a foreign currency shall be the Dollar equivalent, as determined by the Company by reference to the noon buying rate in The City of New
York for cable transfers for that currency, as that rate is certified for customs purposes by the Federal Reserve Bank of New York (the “Exchange Rate”) on the date of original issuance of that Security, of the principal amount (or, in the
case of an Original 

  
 13 

 
Issue Discount Security, the Dollar equivalent, as determined by the Company by reference to the Exchange Rate on the date of original issuance of that Security, of the amount determined as
provided in (a) above), of that Security and (c) Securities owned by the Company or any other obligor on the Securities or any Affiliate of the Company or of that other obligor shall be disregarded, except that, for the purpose of
determining whether the Trustee shall be protected in relying on any such direction, amendment, supplement, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 

SECTION 2.12 Temporary Securities. 

Until definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary
Securities. Temporary Securities shall be substantially in the form of definitive Securities, but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the
Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged, the temporary Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 

SECTION 2.13 Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the
Trustee any Securities surrendered to them for registration of transfer, exchange, payment or redemption or for credit against any sinking fund payment. The Trustee shall cancel all Securities surrendered for registration of transfer, exchange,
payment, redemption, replacement or cancellation or for credit against any sinking fund. The Trustee shall provide confirmation of cancellation upon written request from the Company. All canceled Securities held by the Trustee shall be disposed of
in accordance with the usual disposal procedures of the Trustee, and the Trustee shall maintain a record of their disposal. The Company may not issue new Securities to replace Securities that have been paid or that have been delivered to the Trustee
for cancellation. 
 SECTION 2.14 Payments; Defaulted Interest. 

Unless otherwise provided as contemplated by Section 2.01 with respect to the Securities of any series, interest (except defaulted
interest) on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Persons who are registered Holders of that Security at the close of business on the record date next preceding
that Interest Payment Date, even if those Securities are canceled after that record date and on or before that Interest Payment Date. The Holder must surrender a Security to a Paying Agent to collect principal payments. Unless otherwise provided
with respect to the Securities of any series, the Company will pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities in Dollars. Those amounts shall be payable at the offices of the Trustee
or any Paying Agent, provided that at the option of the Company, the Company may pay those amounts (1) by wire transfer with respect to Global Securities or (2) by check payable in that money mailed to a Holder’s registered address
with respect to any Securities. 

  
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 If the Company defaults in a payment of interest on the Securities of any series, it shall pay
the defaulted interest in any lawful manner plus, to the extent lawful, interest on the defaulted interest, in each case at the rate provided in the Securities of that series and in Section 4.01. The Company may pay the defaulted interest to
the Persons who are Holders on a subsequent special record date. At least 15 days before any special record date selected by the Company, the Company (or the Trustee, in the name of and at the expense of the Company upon 20 days’ prior written
notice from the Company setting forth that record date and the interest amount to be paid) shall mail to Holders of any such series of Securities a notice that states the special record date, the related payment date and the amount of that interest
to be paid. 
 SECTION 2.15 Persons Deemed Owners. 

The Company, the Trustee, any Agent and any authenticating agent may treat the Person in whose name any Security is registered as the owner of
that Security for the purpose of receiving payments of principal of, premium (if any) or interest on, or any Additional Amounts with respect to that Security and for all other purposes. None of the Company, the Trustee, any Agent or any
authenticating agent shall be affected by any notice to the contrary. 
 SECTION 2.16 Computation of Interest. 

Except as otherwise specified as contemplated by Section 2.01 for Securities of any series, interest on the Securities of each series
shall be computed on the basis of a year of 360 days comprising twelve 30-day months. 
 SECTION 2.17 Global Securities; Book-Entry
Provisions. 
 If Securities of a series are issuable in global form as a Global Security, as contemplated by Section 2.01, then,
notwithstanding clause (10) of Section 2.01 and the provisions of Section 2.02, any such Global Security shall represent those of the outstanding Securities of that series as shall be specified therein and may provide that it shall
represent the aggregate amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect
exchanges, transfers or redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Securities represented thereby shall be made by the Trustee (i) in such manner and upon
instructions given by such Person or Persons as shall be specified in that Security or in a Company Order to be delivered to the Trustee pursuant to Section 2.04 or (ii) otherwise in accordance with written instructions or such other
written form of instructions as is customary for the Depositary for that Security, from that Depositary or its nominee on behalf of any Person having a beneficial interest in that Global Security. Subject to the provisions of Section 2.04 and,
if applicable, Section 2.12, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified in that Security or in the applicable Company Order. With
respect to the Securities of any series that are represented by a Global Security, the Company authorizes the execution and delivery by the Trustee of a letter of representations or other similar agreement or instrument in the form customarily
provided for by the Depositary appointed with respect to that Global Security. Any Global Security may be deposited with the Depositary or its nominee, or may remain in the 

  
 15 

 
custody of the Trustee or the Security Custodian therefor pursuant to a FAST Balance Certificate Agreement or similar agreement between the Trustee and the Depositary. If a Company Order has
been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not comply with Section 10.05 and need not be accompanied by
an Opinion of Counsel. 
 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this
Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee or the Security Custodian as its custodian, or under that Global Security, and the Depositary may be treated by the Company, the Trustee or the
Security Custodian and any agent of the Company, the Trustee or the Security Custodian as the absolute owner of that Global Security for all purposes whatsoever. Notwithstanding the foregoing, (i) the registered holder of a Global Security of
any series may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action that a Holder of Securities of that series is entitled to take under this
Indenture or the Securities of that series and (ii) nothing herein shall prevent the Company, the Trustee or the Security Custodian or any agent of the Company, the Trustee, or the Security Custodian from giving effect to any written
certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a beneficial owner of any
Security. 
 Notwithstanding Section 2.08, and except as otherwise provided pursuant to Section 2.01, transfers of a Global
Security shall be limited to transfers of that Global Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Security may be transferred in accordance with the
rules and procedures of the Depositary. Securities of any series shall be transferred to all beneficial owners of a Global Security of that series in exchange for their beneficial interests in that Global Security if, and only if, either
(1) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for that Global Security and a successor Depositary is not appointed by the Company within 90 days of that notice, (2) an Event of Default has
occurred with respect to that series and is continuing and the Registrar has received a request from the Depositary to issue Securities of that series in lieu of all or a portion of that Global Security (in which case the Company shall deliver
Securities of that series within 30 days of that request) or (3) the Company determines not to have the Securities of that series represented by a Global Security. 

In connection with any transfer of a portion of the beneficial interests in a Global Security to beneficial owners pursuant to this
Section 2.17, the Registrar shall reflect on its books and records the date and a decrease in the principal amount of the Global Security in an amount equal to the principal amount of the beneficial interests in the Global Security to be
transferred, and the Company shall execute, and the Trustee on receipt of a Company Order for the authentication and delivery of Securities shall authenticate and deliver, one or more Securities of the same series of like tenor and amount. 

In connection with the transfer of all the beneficial interests in a Global Security of any series to beneficial owners pursuant to this
Section 2.17, the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depositary in
exchange for its beneficial interests in the Global Security, an equal aggregate principal amount of Securities of that series of authorized denominations. 

  
 16 

 Neither the Company nor the Trustee will have any responsibility or liability for any aspect of
the records relating to, or payments made on account of, Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to those Securities. Neither the Company nor the Trustee shall be liable for
any delay by the related Global Security Holder or the Depositary in identifying the beneficial owners, and each such Person may conclusively rely on, and shall be protected in relying on, instructions from that Global Security Holder or the
Depositary for all purposes (including with respect to the registration and delivery, and the respective principal amounts, of the Securities to be issued). 

The provisions of the last sentence of the third paragraph of Section 2.04 shall apply to any Global Security if that Global Security was
never issued and sold by the Company and the Company delivers to the Trustee the Global Security together with written instructions (which need not comply with Section 10.05 and need not be accompanied by an Opinion of Counsel) with regard to
the cancellation or reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of the third paragraph of Section 2.04. 

Notwithstanding the provisions of Sections 2.03 and 2.14, unless otherwise specified as contemplated by Section 2.01 with respect to
Securities of any series, payment of principal of and premium (if any) and interest on and any Additional Amounts with respect to any Global Security shall be made to the Person or Persons specified therein. 

SECTION 2.18 CUSIP Numbers. 

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

REDEMPTION 
 SECTION 3.01
Applicability of Article. 
 Securities of any series that are redeemable before their Stated Maturity shall be redeemable in
accordance with their terms and (except as otherwise specified as contemplated by Section 2.01 for Securities of any series) in accordance with this Article III. 

  
 17 

 SECTION 3.02 Notice to the Trustee. 

If the Company elects to redeem Securities of any series pursuant to this Indenture, it shall notify the Trustee of the Redemption Date and
principal amount of Securities of that series to be redeemed. The Company shall so notify the Trustee at least 3 Business Days before sending a notice of such redemption (unless a shorter notice shall be satisfactory to the Trustee) by delivering to
the Trustee an Officers’ Certificate stating that the redemption will comply with the provisions of this Indenture and of the Securities of that series. Any such notice may be canceled at any time prior to the mailing of that notice of
redemption to any Holder of the Securities of that series and shall thereupon be void and of no effect. 
 SECTION 3.03 Selection of
Securities To Be Redeemed. 
 If less than all the Securities of any series are to be redeemed (unless all of the Securities of that
series of a specified tenor are to be redeemed), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the outstanding Securities of that series (and tenor) not previously
called for redemption, either pro rata, by lot or by such other method as the Trustee shall deem fair and appropriate (except that any Securities represented by a Global Security will be redeemed by such method the Depositary may require). That
redemption may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of that series of a denomination
larger than the minimum authorized denomination for Securities of that series or of the principal amount of Global Securities of that series. 

The Trustee shall promptly notify the Company and the Registrar in writing of the Securities selected for redemption and, in the case of any
Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For purposes of this Indenture, unless the
context otherwise requires, all provisions relating to redemption of Securities of any series shall relate, in the case of any of the Securities redeemed or to be redeemed only in part, to the portion of the principal amount thereof which has been
or is to be redeemed. 
 SECTION 3.04 Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed (or in accordance with the rules and procedures of the
Depositary) not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities of a series to be redeemed, at the address of that Holder appearing in the register of Securities for that series maintained by the
Registrar. 
 All notices of redemption shall identify the Securities to be redeemed and shall state: 

(1) the Redemption Date; 

(2) the Redemption Price; 

  
 18 

 (3) that, unless the Company defaults in making the redemption payment, interest
on Securities called for redemption ceases to accrue on and after the Redemption Date, and the only remaining right of the Holders of those Securities is to receive payment of the Redemption Price on surrender to the Paying Agent of the Securities
redeemed; 
 (4) if any Security is to be redeemed in part, the portion of the principal amount thereof to be redeemed and
that on and after the Redemption Date, on surrender for cancellation of that Security to the Paying Agent, a new Security or Securities in the aggregate principal amount equal to the unredeemed portion thereof will be issued without charge to the
Holder; 
 (5) that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price
and the name and address of the Paying Agent; 
 (6) that the redemption is for a sinking or analogous fund, if that is the
case; and 
 (7) the CUSIP number, if any, relating to those Securities. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
written request, by the Trustee in the name and at the expense of the Company; provided, however, that the Company shall have delivered to the Trustee, at least 3 Business Days prior to the date of the giving of the notice of redemption (or such
shorter period as is acceptable to the Trustee), an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in the notice as provided in the preceding paragraph. 

SECTION 3.05 Effect of Notice of Redemption. 

Once notice of redemption is given, Securities called for redemption become due and payable on the Redemption Date and at the Redemption
Price. Upon surrender to the Paying Agent, those Securities called for redemption shall be paid at the Redemption Price, but interest installments whose maturity is on or prior to that Redemption Date will be payable on the relevant Interest Payment
Dates to the Holders of record at the close of business on the relevant record dates specified pursuant to Section 2.01. 
 SECTION
3.06 Deposit of Redemption Price. 
 On or prior to 11:00 a.m., New York City time, on any Redemption Date, the Company shall deposit
with the Trustee or the Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.06) an amount of money in same day funds sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on and any Additional Amounts with respect to, the Securities or portions thereof which are to be redeemed on that date, other than Securities or portions thereof called for
redemption on that date which have been delivered by the Company to the Trustee for cancellation. 

  
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 If the Company complies with the preceding paragraph, then, unless the Company defaults in the
payment of that Redemption Price, interest on the Securities to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not those Securities are presented for payment, and the Holders of those Securities shall have
no further rights with respect to those Securities except for the right to receive the Redemption Price on surrender of those Securities. If any Security called for redemption shall not be so paid on surrender thereof for redemption, the principal
of and premium, if any, any Additional Amounts, and, to the extent lawful, accrued interest thereon shall, until paid, bear interest from the Redemption Date at the rate specified pursuant to Section 2.01 or provided in the Securities or, in
the case of Original Issue Discount Securities, their initial yield to maturity. 
 SECTION 3.07 Securities Redeemed or Purchased in
Part. 
 Upon surrender to the Paying Agent of a Security to be redeemed in part, the Company shall execute and the Trustee shall
authenticate and deliver to the Holder of that Security without service charge a new Security or Securities, of the same series and of any authorized denomination as requested by that Holder in aggregate principal amount equal to, and in exchange
for, the unredeemed portion of the principal of the Security so surrendered that is not redeemed. 
 SECTION 3.08 Purchase of
Securities. 
 Unless otherwise specified as contemplated by Section 2.01, the Company and any Affiliate of the Company may,
subject to applicable law, at any time purchase or otherwise acquire Securities in the open market or by private agreement. Any such acquisition shall not operate as or be deemed for any purpose to be a redemption of the indebtedness represented by
those Securities. Any Securities purchased or acquired by the Company may be delivered to the Trustee for cancellation and, on that cancellation, the indebtedness represented thereby shall be deemed to be satisfied. Section 2.13 shall apply to
all Securities so delivered. 
 SECTION 3.09 Mandatory and Optional Sinking Funds. 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a
“mandatory sinking fund payment,” and any payment in excess of the minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment.” Unless otherwise provided by the
terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.10. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by
the terms of Securities of that series and by this Article III. 
 SECTION 3.10 Satisfaction of Sinking Fund Payments with
Securities. 
 The Company may deliver outstanding Securities of a series (other than any previously called for redemption) and may
apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of those Securities or through the application of permitted optional sinking fund payments pursuant to the terms of those
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect 

  
 20 

 
to the Securities of that series required to be made pursuant to the terms of that series of Securities; provided that those Securities have not been previously so credited. Those Securities
shall be received and credited for that purpose by the Trustee at the Redemption Price specified in those Securities for redemption through operation of the sinking fund, and the amount of that sinking fund payment shall be reduced accordingly. 

SECTION 3.11 Redemption of Securities for Sinking Fund. 

Not less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking fund payment date for any series of
Securities, the Company will deliver to the Trustee an Officers’ Certificate of the Company specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, that
is to be satisfied by payment of cash and the portion thereof, if any, that is to be satisfied by delivery of or by crediting Securities of that series pursuant to Section 3.10 and will also deliver or cause to be delivered to the Trustee any
Securities to be so delivered. Failure of the Company to timely deliver or cause to be delivered that Officers’ Certificate and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute the election of
the Company (i) that the mandatory sinking fund payment for that series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Securities of that series in respect thereof and
(ii) that the Company will make no optional sinking fund payment with respect to that series as provided in this Section. 
 If the
sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $100,000 (or the Dollar
equivalent thereof based on the applicable Exchange Rate on the date of original issue of the applicable Securities) or a lesser sum if the Company shall so request with respect to the Securities of any particular series, that cash shall be applied
on the next succeeding sinking fund payment date to the redemption of Securities of that series at the sinking fund redemption price together with accrued interest to the date fixed for redemption. If that amount shall be $100,000 (or the Dollar
equivalent thereof as aforesaid) or less and the Company makes no such request, then it shall be carried over until a sum in excess of $100,000 (or the Dollar equivalent thereof as aforesaid) is available. Not less than 30 days before each such
sinking fund payment date, the Trustee shall select the Securities to be redeemed on that sinking fund payment date in the manner specified in Section 3.03 and cause notice of the redemption thereof to be given in the name of and at the expense
of the Company in the manner provided in Section 3.04. That notice having been duly given, the redemption of those Securities shall be made on the terms and in the manner stated in Sections 3.05, 3.06 and 3.07. 

ARTICLE IV 
 COVENANTS 

SECTION 4.01 Payment of Securities. 

The Company shall pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of each
series on the dates and in the manner provided in the Securities of that series and in this Indenture. Principal, premium, interest and 

  
 21 

 
any Additional Amounts shall be considered paid on the date due if the Paying Agent, other than the Company or a Subsidiary of the Company, holds on that date money deposited by the Company
designated for and sufficient to pay all principal, premium (if any), interest and any Additional Amounts then due. 
 The Company shall pay
interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal of and premium (if any) on Securities of any series, at a rate equal to the then applicable interest rate on the Securities of that series to
the extent lawful; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest on and any Additional Amounts with respect to Securities of that series (without regard to
any applicable grace period) at the same rate to the extent lawful. 
 SECTION 4.02 Maintenance of Office or Agency. 

The Company will maintain in each Place of Payment for any series of Securities an office or agency (which may be an office of the Trustee,
the Registrar or the Paying Agent) where Securities of that series may be presented for registration of transfer or exchange, where Securities of that series may be presented for payment and where notices and demands to or on the Company in respect
of the Securities of that series and this Indenture may be delivered. Unless otherwise designated by the Company by written notice to the Trustee, that office or agency shall be the office of the Trustee specified in Section 10.02. The Company
will give prompt written notice to the Trustee of the location, and any change in the location, of that office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, those presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

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

 SECTION 4.03 SEC Reports; Financial Statements. 

(a) If the Company is subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with
the Trustee, within 15 days after it files the same with the SEC, copies of the annual reports and the information, documents and other reports (or copies of those portions of any of the foregoing as the SEC may by rules and regulations prescribe)
that the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. If this Indenture is qualified under the TIA, but not otherwise, the Company shall also comply with the provisions of TIA § 314(a).
Delivery of such reports, information and documents to the Trustee shall be for informational purposes only, and the Trustee’s receipt thereof shall not constitute constructive notice of any information contained therein or determinable from

  
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information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates
or certificates delivered pursuant to Section 4.04). 
 (b) If the Company is not subject to the requirements of
Section 13 or 15(d) of the Exchange Act, the Company shall furnish to all Holders of Rule 144A Securities and prospective purchasers of Rule 144A Securities designated by the Holders of Rule 144A Securities, promptly on their request, the
information required to be delivered pursuant to Rule 144A(d)(4) promulgated under the Securities Act of 1933, as amended. 
 SECTION 4.04
Compliance Certificate. 
 (a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal
year of the Company, a statement signed by an Officer of the Company, which need not constitute an Officers’ Certificate, complying with TIA § 314(a)(4) and stating that, in the course of performance by the signing Officer of the Company
of his or her duties as such Officer of the Company, he or she would normally obtain knowledge of the keeping, observing, performing and fulfilling by the Company of its obligations under this Indenture, and further stating that, to the best of his
or her knowledge, the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a
Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which that Officer may have knowledge and what action the Company is taking or proposes to take with respect thereto). 

(b) The Company shall, so long as Securities of any series are outstanding, deliver to the Trustee, promptly on any Officer of
the Company becoming aware of any Default or Event of Default under this Indenture, an Officers’ Certificate specifying that Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

SECTION 4.05 Existence. 

Subject to Article V hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its
existence. 
 SECTION 4.06 Waiver of Stay, Extension or Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist on, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Securities as contemplated herein,
wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the Company 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. 

  
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 SECTION 4.07 Additional Amounts. 

If the Securities of a series expressly provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of
that series Additional Amounts as expressly provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or the net
proceeds received from the sale or exchange of any Security of any series, that mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section 4.07 to the extent that, in that context, Additional
Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 4.07, and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding
Additional Amounts in those provisions hereof where that express mention is not made. 
 ARTICLE V 

SUCCESSORS 
 SECTION 5.01
Limitations on Mergers, Consolidations and Other Transactions. 
 The Company shall not, in any transaction or series of related
transactions, consolidate with any other Person into, or merge into (or amalgamate with), any other Person, or sell, lease, convey, transfer or otherwise dispose of its assets substantially as an entirety to any Person, unless: 

(1) the Person formed by that consolidation (or amalgamation) or into which the Company is merged, or to which that sale,
lease, conveyance, transfer or other disposition shall be made (collectively, the “Successor”), expressly assumes by supplemental indenture the due and punctual payment of the principal of (and premium, if any) and interest on and
Additional Amounts with respect to all the Securities and the performance of the Company’s covenants and obligations under this Indenture and the Securities; 

(2) immediately after giving effect to that transaction or series of related transactions, no Default or Event of Default shall
have occurred and be continuing; and 
 (3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that the transaction and that supplemental indenture comply with this Indenture. 
 SECTION 5.02 Successor
Person Substituted. 
 Upon any consolidation, amalgamation or merger of the Company or any sale, lease, conveyance, transfer or other
disposition of the assets of the Company substantially as an entirety in accordance with Section 5.01, any Successor formed by that consolidation or into or with which the Company is merged or to which that sale, lease, conveyance, transfer or
other 

  
 24 

 
disposition is made shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture and the Securities with the same effect as if that
Successor had been named as the Company herein and the predecessor Company, in the case of a sale, conveyance, transfer or other disposition, shall be released from all obligations under this Indenture and the Securities. 

ARTICLE VI 
 DEFAULTS AND REMEDIES

 SECTION 6.01 Events of Default. 

Unless either inapplicable to a particular series or specifically deleted or modified in or pursuant to the supplemental indenture or Board
Resolution establishing that series of Securities or in the form of Security for that series, an “Event of Default,” wherever used herein with respect to Securities of any series, occurs if: 

(1) the Company defaults in the payment of interest on or any Additional Amounts with respect to any Security of that series
when the same becomes due and payable and that default continues for a period of 30 days; 
 (2) the Company defaults in the
payment of (A) the principal of any Security of that series at its Maturity or (B) premium (if any) on any Security of that series when the same becomes due and payable; 

(3) the Company defaults in the deposit of any sinking fund payment, when and as due by the terms of a Security of that series,
and that default continues for a period of 30 days; 
 (4) the Company fails to comply with any of its other covenants or
agreements in, or provisions of, the Securities of that series or this Indenture (other than an agreement, covenant or provision that has expressly been included in this Indenture solely for the benefit of one or more series of Securities other than
that series) which shall not have been remedied within the specified period after written notice, as specified in the last paragraph of this Section 6.01; 

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

(A) commences a voluntary case, 

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

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

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

  
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 (6) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that remains unstayed and in effect for 90 days and that: 
 (A) is for relief against the Company as debtor
in an involuntary case, 
 (B) appoints a Bankruptcy Custodian of the Company or a Bankruptcy Custodian for all or
substantially all of the property of the Company, or 
 (C) orders the liquidation of the Company; or 

(7) any other Event of Default provided with respect to Securities of that series occurs. 

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

The Trustee shall not be deemed to know or have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has
actual knowledge thereof or unless written notice of any event which is in fact such a Default or Event of Default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture.

 When a Default is cured, it ceases. 

Notwithstanding the foregoing provisions of this Section 6.01, if the principal of, premium (if any) or interest on or Additional Amounts
with respect to any Security is payable in a currency or currencies (including a composite currency) other than Dollars and such currency or currencies are not available to the Company for making payment thereof due to the imposition of exchange
controls or other circumstances beyond the control of the Company (a “Conversion Event”), the Company will be entitled to satisfy its obligations to Holders of the Securities by making that payment in Dollars in an amount equal to the
Dollar equivalent of the amount payable in such other currency, as determined by the Company by reference to the Exchange Rate on the date of that payment, or, if that rate is not then available, on the basis of the most recently available Exchange
Rate. Notwithstanding the foregoing provisions of this Section 6.01, any payment made under such circumstances in Dollars where the required payment is in a currency other than Dollars will not constitute an Event of Default under this
Indenture. 
 Promptly after the occurrence of a Conversion Event, the Company shall give written notice thereof to the Trustee; and the
Trustee, promptly after receipt of that notice, shall give notice thereof in the manner provided in Section 10.02 to the Holders. Promptly after the making of any payment in Dollars as a result of a Conversion Event, the Company shall give
notice in the manner provided in Section 10.02 to the Holders, setting forth the applicable Exchange Rate and describing the calculation of those payments. 

A Default under clause (4) or (7) of this Section 6.01 is not an Event of Default until the Trustee notifies the Company, or
the Holders of at least 25% in principal amount of the then outstanding Securities of the series affected by that Default (or, in the case of a Default under clause (4) of this Section 6.01, if outstanding Securities of other series are
affected by that 

  
 26 

 
Default, then at least 25% in principal amount of the then outstanding Securities so affected) notify the Company and the Trustee, of the Default, and the Company fails to cure the Default within
90 days after receipt of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.” 

SECTION 6.02 Acceleration. 

If an Event of Default with respect to any Securities of any series at the time outstanding (other than an Event of Default specified in
clause (5) or (6) of Section 6.01 hereof) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the then outstanding Securities of the series affected by that default
(or, in the case of an Event of Default described in clause (4) of Section 6.01, if outstanding Securities of other series are affected by that Default, then at least 25% in principal amount of the then outstanding Securities so affected)
by notice to the Company and the Trustee, may declare the principal of (or, if any of those Securities are Original Issue Discount Securities, that portion of the principal amount as may be specified in the terms of that series) and all accrued and
unpaid interest on all then outstanding Securities of that series or of all series, as the case may be, to be due and payable. Upon any such declaration, the amounts due and payable on those Securities shall be due and payable immediately. If an
Event of Default specified in clause (5) or (6) of Section 6.01 hereof occurs, those amounts shall ipso facto become and be immediately due and payable without any declaration, notice or other act on the part of the Trustee or any
Holder. The Holders of a majority in principal amount of the then outstanding Securities of the series affected by that default or all series, as the case may be, by written notice to the Trustee may rescind an acceleration and its consequences
(other than nonpayment of principal of or premium or interest on or any Additional Amounts with respect to the Securities) if the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to
Securities of that series (or of all series, as the case may be) have been cured or waived, except nonpayment of principal, premium, interest or any Additional Amounts that has become due solely because of the acceleration. 

SECTION 6.03 Other Remedies. 

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal of, or premium, if any, or interest on the Securities of that series or to enforce the performance of any provision of the Securities of that series or this Indenture. 

The Trustee may maintain a proceeding with respect to Securities of any series even if it does not possess any of the Securities of that
series or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing on an Event of Default shall not impair the right or remedy or constitute a waiver of or
acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 

  
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 SECTION 6.04 Waiver of Defaults. 

Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series or of all
series (acting as one class) by notice to the Trustee may waive an existing or past Default or Event of Default with respect to that series or all series, as the case may be, and its consequences (including waivers obtained in connection with a
tender offer or exchange offer for Securities of that series or all series or a solicitation of consents in respect of Securities of that series or all series, provided that in each case that offer or solicitation is made to all Holders of then
outstanding Securities of that series or all series (but the terms of that offer or solicitation may vary from series to series)), except (1) a continuing Default or Event of Default in the payment of the principal of, or premium, if any, or
interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without the consent of each Holder affected. Upon any such
waiver, that Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right
consequent thereon. 
 SECTION 6.05 Control by Majority. 

With respect to Securities of any series, the Holders of a majority in principal amount of the then outstanding Securities of that series may
direct in writing the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it relating to or arising under an Event of Default described in clause (1), (2),
(3) or (7) of Section 6.01, and with respect to all Securities, the Holders of a majority in principal amount of all the then outstanding Securities affected may direct in writing the time, method and place of conducting any
proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it not relating to or arising under such an Event of Default. However, the Trustee may refuse to follow any direction that conflicts with applicable law
or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of other Holders, or that may involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the
Trustee that is not inconsistent with that direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion from Holders directing the Trustee against all losses and expenses
caused by taking or not taking that action. 
 SECTION 6.06 Limitations on Suits. 

Subject to Section 6.07 hereof, a Holder of a Security of any series may pursue a remedy with respect to this Indenture or the Securities
of that series only if: 
 (1) the Holder gives to the Trustee written notice of a continuing Event of Default with respect
to that series; 
 (2) the Holders of at least 25% in principal amount of the then outstanding Securities of that series make
a written request to the Trustee to pursue the remedy; 

  
 28 

 (3) such Holder or Holders offer to the Trustee indemnity satisfactory to the
Trustee in its sole discretion against any loss, liability or expense; 
 (4) the Trustee does not comply with the request
within 60 days after receipt of the request and the offer of indemnity; and 
 (5) during that 60-day period, the Holders of
a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 
 A
Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such use by
a Holder prejudices the rights of any other Holders or obtains priority or preference over such other Holders). 
 SECTION 6.07 Rights of
Holders to Receive Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive
payment of principal of and premium, if any, and interest on and any Additional Amounts with respect to that Security, on or after the respective due dates expressed in that Security, or to bring suit for the enforcement of any such payment on or
after those respective dates, is absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 

SECTION 6.08 Collection Suit by Trustee. 

If an Event of Default specified in clause (1) or (2) of Section 6.01 hereof occurs and is continuing with respect to
Securities of any series, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the amount of principal, premium (if any), interest and any Additional Amounts remaining unpaid on the
Securities of that series, and interest on overdue principal and premium, if any, and, to the extent lawful, interest on overdue interest, and 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. 
 SECTION 6.09 Trustee May File
Proofs of Claim. 
 The Trustee is authorized to file such proofs of claim and other papers or documents and to take such actions,
including participating as a member, voting or otherwise, of any committee of creditors, as may be necessary or advisable to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel) and the Holders allowed in any judicial proceeding relative to the Company or its creditors or properties and shall be entitled and empowered to collect, receive and distribute any money or other property payable
or deliverable on any such claims and any Bankruptcy Custodian in any such judicial proceeding is hereby authorized by each Holder to make those payments to the Trustee, and in the event that the Trustee shall consent to the making of those payments
directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and 

  
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counsel, and any other amounts due the Trustee under Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all
distributions, dividends, money, securities and other properties which the Holders of the Securities may be entitled to receive in that proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. 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 Securities 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. 
 SECTION 6.10 Priorities. 

If the Trustee collects any money or property pursuant to this Article VI, it shall pay out the money or property in the following order: 

First: to the Trustee for amounts due under Section 7.07; 

Second: to Holders for amounts due and unpaid on the Securities in respect of which or for the benefit of which that money has
been collected, for principal, premium (if any), interest and any Additional Amounts ratably, without preference or priority of any kind, according to the amounts due and payable on those Securities for principal, premium (if any), interest and any
Additional Amounts, respectively; and 
 Third: to the Company. 

The Trustee, on prior written notice to the Company, may fix record dates and payment dates for any payment to Holders pursuant to this
Article VI. 
 To the fullest extent allowed under applicable law, if for the purpose of obtaining a judgment against the Company in any
court it is necessary to convert the sum due in respect of the principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities of any series (the “Required Currency”) into a currency in which a judgment
will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment
Currency on the New York Business Day next preceding that on which final judgment is given. Neither the Company nor the Trustee shall be liable for any shortfall nor shall it benefit from any windfall in payments to Holders of Securities under this
Section 6.10 caused by a change in exchange rates between the time the amount of a judgment against it is calculated as above and the time the Trustee converts the Judgment Currency into the Required Currency to make payments under this Section
to Holders of Securities, but payment of that judgment shall discharge all amounts owed by the Company on the claim or claims underlying that judgment. 

  
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 SECTION 6.11 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as 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 attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to
Section 6.07, or a suit by a Holder or Holders of more than 10% in principal amount of the then outstanding Securities of any series. 

ARTICLE VII 
 TRUSTEE 

SECTION 7.01 Duties of Trustee. 

(a) If an Event of Default with respect to the Securities of any series has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture with respect to the Securities of that series, and use the same degree of care and skill in that exercise, as a prudent person would exercise or use under the circumstances in the
conduct of such person’s own affairs. 
 (b) Except during the continuance of an Event of Default with respect to the
Securities of any series: 
 (1) the Trustee need perform only those duties that are specifically set forth in this Indenture
and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, on certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture. However, the Trustee shall examine those certificates and opinions to determine whether, on their face, they appear to conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical
calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liabilities for its own negligent
action, its own negligent failure to act or its own willful misconduct, except that: 
 (1) this paragraph does not limit the
effect of Section 7.01(b); 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by a
Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 hereof. 

  
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 (d) Whether or not therein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to the provisions of this Section 7.01. 
 (e) No provision
of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability
or expense. 
 (f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree
in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. All money received by the Trustee with respect to Securities of any series shall, until applied as herein
provided, be held in trust for the payment of the principal of, premium (if any) and interest on and Additional Amounts with respect to the Securities of that series. 

SECTION 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting on any resolution,
certificate, statement, instrument, opinion, notice, report, request, direction, consent, order, bond, debenture or other document (whether in original or facsimile form) believed by it to be genuine and to have been signed or presented by the
proper Person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or
refrains from acting, it may require instruction, an Officers’ Certificate or an Opinion of Counsel or both to be provided. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on that instruction,
Officers’ Certificate or Opinion of Counsel. Prior to taking, suffering or admitting any action, the Trustee may consult with counsel of the Trustee’s own choosing, and the advice of that 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 reliance thereon. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent appointed
with due care. 
 (d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it
believes to be authorized or within its rights or powers conferred on it by this Indenture. 
 (e) Unless otherwise
specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by an Officer of the Company. 

  
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 (f) The Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or documents, but the Trustee, in its reasonable
discretion, may make such further inquiry or investigation into such facts or matters as it may reasonably see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine during normal
business hours the books, records and premises of the Company to the extent related to such facts or matters, personally or by agent or attorney at the sole cost of the Company, and shall incur no liability or additional liability of any kind by
reason of such inquiry or investigation. 
 (g) In no event shall the Trustee be responsible or liable for special, indirect,
punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

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

(i) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder. 
 (j) The Trustee may request that the Company shall deliver to the Trustee an Officers’ Certificate setting
forth the names of individuals and/or titles of Officers of the Company authorized at such time to take specified actions pursuant to this Indenture of the Company and the Securities, which Officers’ Certificate may be signed by any Person
authorized to sign an Officers’ Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 

SECTION 7.03 May Hold Securities. 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or
any of its Affiliates with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights and duties. However, the Trustee is subject to Sections 7.10 and 7.11. 

SECTION 7.04 Trustee’s Disclaimer. 

The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities; it shall not be accountable for the
Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s direction under any provision hereof; it shall not be responsible for the use or application of any money received by any Paying Agent
other than the Trustee; and it shall not be responsible for any statement or recital herein or any statement in the Securities other than its certificate of authentication. 

  
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 SECTION 7.05 Notice of Defaults. 

If a Default or Event of Default with respect to the Securities of any series occurs and is continuing and it is known to the Trustee, the
Trustee shall mail to Holders of Securities of that series a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium (if any) and interest on
and Additional Amounts or any sinking fund installment with respect to the Securities of that series, the Trustee may withhold the notice if and so long as the board of directors, the executive committee or a trust committee of directors or
Responsible Officers of the Trustee in good faith determines that withholding the notice is in the interests of Holders of Securities of that series. 

SECTION 7.06 Reports by Trustee to Holders. 

Within 60 days after each anniversary of the date of the execution of this Indenture, the Trustee shall mail to Holders of a series and the
Company a brief report dated as of that reporting date that complies with TIA § 313(a); provided, however, that if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date with respect to a
series, no report need be transmitted to Holders of that series. The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports if and as required by TIA §§ 313(c) and 313(d). 

A copy of each report at the time of its mailing to Holders of a series of Securities shall be filed by the Company with the SEC and each
securities exchange, if any, on which the Securities of that series are listed. The Company shall notify the Trustee if and when any series of Securities is listed on any stock exchange. 

SECTION 7.07 Compensation and Indemnity. 

The Company agrees to pay to the Trustee from time to time such compensation as the Company and the Trustee shall from time to time agree in
writing for all services rendered by it hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company agrees to reimburse the Trustee on request for all reasonable
disbursements, advances and expenses incurred by it. Those expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Company hereby indemnifies the Trustee against any loss, liability or expense incurred by it arising out of or in connection with the
acceptance or administration of its duties under this Indenture, except as set forth in the next paragraph. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the
Trustee shall cooperate in the defense. The Trustee may have separate counsel, and the Company shall pay the reasonable fees and expenses of that counsel. The Company need not pay for any settlement made without its consent. 

The Company shall not be obligated to reimburse any expense or indemnify against any loss or liability incurred by the Trustee through gross
negligence or bad faith as determined by a court of competent jurisdiction in a final, non-appealable decision. 

  
 34 

 To secure the payment obligations of the Company in this Section 7.07, the Trustee shall
have a lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust to pay principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities of any series.
That lien shall survive the satisfaction and discharge of this Indenture. 
 When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.01(5) or (6) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

SECTION 7.08 Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only on the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 The Trustee may resign and be discharged at any time with respect to the
Securities of one or more series by so notifying the Company. The Holders of a majority in principal amount of the then outstanding Securities of any series may remove the Trustee with respect to the Securities of that series by so notifying the
Trustee and the Company. The Company may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10;

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

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of one or
more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or
more or all of those series and that at any time there shall be only one Trustee with respect to the Securities of any particular series). Within one year after the successor Trustee with respect to the Securities of any series takes office, the
Holders of a majority in principal amount of the Securities of that series may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 

If a successor Trustee with respect to the Securities of any series does not take office within 30 days after the retiring or removed Trustee
resigns or is removed, the retiring or removed Trustee, the Company or the Holders of at least 10% in principal amount of the then outstanding Securities of that series may petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Securities of that series. 

  
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 If the Trustee with respect to the Securities of a series fails to comply with Section 7.10,
any Holder of Securities of that series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the Securities of that series. 

In case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in
Section 7.07. 
 In case of the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept that appointment
and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of that successor Trustee relates, (2) if the
retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee.
Nothing herein or in that supplemental indenture shall constitute those Trustees co-trustees of the same trust, and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee. Upon the execution and delivery of that supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, and each such successor Trustee shall have all the
rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of that successor Trustee relates. On the request of the Company or any successor Trustee, that retiring Trustee shall
transfer to that successor Trustee all property held by that retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment of that successor Trustee relates. 

Notwithstanding replacement of the Trustee or Trustees pursuant to this Section 7.08, the obligations of the Company under
Section 7.07 shall continue for the benefit of the retiring Trustee or Trustees. 
 SECTION 7.09 Successor Trustee by Merger,
etc. 
 Subject to Section 7.10, if the Trustee consolidates, merges or converts into, or transfers all or substantially all of its
corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee; provided, however, that in the case of a transfer of all or substantially all of its corporate trust business to
another corporation, the transferee corporation expressly assumes all of the Trustee’s liabilities hereunder. 

  
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 In case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to that authenticating Trustee may adopt that authentication and deliver the Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated,
any successor to the Trustee may authenticate those Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all those cases those certificates shall have the full force which it is anywhere
in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 SECTION 7.10 Eligibility;
Disqualification. 
 There shall at all times be a Trustee hereunder which shall be a corporation or banking or trust company or
association organized and doing business under the laws of the United States, any State thereof or the District of Columbia and authorized under those laws to exercise corporate trust power, shall be subject to supervision or examination by Federal
or State (or the District of Columbia) authority and shall have, or be a Subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of
condition. 
 The Indenture shall always have a Trustee who satisfies the requirements of TIA §§ 310(a)(1), 310(a)(2) and
310(a)(5). The Trustee is subject to and shall comply with the provisions of TIA § 310(b) during the period of time required by this Indenture. Nothing in this Indenture shall prevent the Trustee from filing with the SEC the application
referred to in the penultimate paragraph of TIA § 310(b). 
 SECTION 7.11 Preferential Collection of Claims Against the Company.

 The Trustee is subject to and shall comply with the provisions of TIA § 311(a), excluding any creditor relationship listed in TIA
§ 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE
VIII 
 DISCHARGE OF INDENTURE 

SECTION 8.01 Termination of the Company’s Obligations. 

(a) This Indenture shall cease to be of further effect with respect to the Securities of a series (except as to any surviving rights of
conversion or of registration of transfer or exchange of Securities expressly provided for herein and except that the Company’s obligations under Section 7.07, the Trustee’s and Paying Agent’s obligations under Section 8.03
and the rights, powers, protections and privileges accorded the Trustee under Article VII shall survive), and the Trustee, on demand of the Company, shall execute proper instruments acknowledging the satisfaction and discharge of this Indenture with
respect to the Securities of that series, when: 
 (1) either 

(A) all outstanding Securities of that series theretofore authenticated and issued (other than destroyed, lost or stolen
Securities that have been replaced or paid) have been delivered to the Trustee for cancellation; or 

  
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 (B) all outstanding Securities of that series not theretofore delivered to the
Trustee for cancellation: 
 (i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturity within one year, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice
of redemption by the Trustee in the name, and at the expense, of the Company, 
 and, in the case of clause (i), (ii) or
(iii) above, the Company has irrevocably deposited or caused to be deposited with the Trustee as funds (immediately available to the Holders in the case of clause (i)) in trust for that purpose (x) cash in an amount, or (y) Government
Obligations, maturing as to principal and interest at such times and in such amounts as will ensure the availability of cash in an amount or (z) a combination thereof, which will be sufficient, in the opinion (in the case of clauses
(y) and (z)) of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on the Securities of that series for principal
and any interest and any Additional Amounts to the date of that deposit (in the case of Securities which have become due and payable) or for principal, premium, if any, interest and any Additional Amounts to the Stated Maturity or Redemption Date,
as the case may be; or 
 (C) the Company has properly fulfilled such other means of satisfaction and discharge as is
specified, as contemplated by Section 2.01, to be applicable to the Securities of that series; 
 (2) the Company has
paid or caused to be paid all other sums payable by it hereunder with respect to the Securities of that series; and 
 (3)
the Company has delivered to the Trustee an Officers’ Certificate stating that all conditions precedent to satisfaction and discharge of this Indenture with respect to the Securities of that series have been complied with, together with an
Opinion of Counsel to the same effect. 
 (b) Unless this Section 8.01(b) is specified as not being applicable to Securities of a
series as contemplated by Section 2.01, the Company may terminate certain of its obligations under this Indenture (“covenant defeasance”) with respect to the Securities of a series if: 

(1) the Company has irrevocably deposited or caused to be irrevocably deposited with the Trustee as trust funds in trust for
the purpose of making the following 

  
 38 

 
payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of Securities of that series, (i) money in the currency in which payment of the Securities
of that series is to be made in an amount, or (ii) Government Obligations with respect to that series, maturing as to principal and interest at such times and in such amounts as will ensure the availability of money in the currency in which
payment of the Securities of that series is to be made in an amount or (iii) a combination thereof, that is sufficient, in the opinion (in the case of clauses (ii) and (iii)) of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, to pay, without consideration of the reinvestment of any such amounts and after payment of all taxes or other charges or assessments in respect thereof payable by the
Trustee, the principal of and premium (if any) and interest on and any Additional Amounts with respect to all Securities of that series on each date that such principal, premium (if any), interest or Additional Amounts are due and payable and (at
the Stated Maturity thereof or on redemption as provided in Section 8.01(e)) to pay all other sums payable by it hereunder; provided that the Trustee shall have been irrevocably instructed to apply that money and/or the proceeds of those
Government Obligations to the payment of said principal, premium (if any), interest and Additional Amounts with respect to the Securities of that series as the same shall become due; 

(2) the Company has delivered to the Trustee an Officers’ Certificate stating that all conditions precedent to
satisfaction and discharge of this Indenture with respect to the Securities of that series have been complied with, and an Opinion of Counsel to the same effect; 

(3) no Default or Event of Default with respect to the Securities of that series shall have occurred and be continuing on the
date of that deposit; 
 (4) the Company shall have delivered to the Trustee an Opinion of Counsel from counsel reasonably
acceptable to the Trustee confirming that the Holders of Securities of that series will not recognize income, gain or loss for Federal income tax purposes as a result of the Company’s exercise of its option under this Section 8.01(b) and
will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if that option had not been exercised; 

(5) the Company has complied with any additional conditions specified pursuant to Section 2.01 to be applicable to the
discharge of Securities of that series pursuant to this Section 8.01; and 
 (6) that deposit and discharge shall not
cause the Trustee to have a conflicting interest as defined in TIA § 310(b). 
 In that event, this Indenture shall cease to be of
further effect (except as set forth in this paragraph), and the Trustee, on demand of the Company, shall execute such instruments reasonably requested by the Company acknowledging satisfaction and discharge under this Indenture. However, the
Company’s obligations in Sections 2.05, 2.06, 2.07, 2.08, 2.09, 4.01, 4.02, 5.01, 7.07, 7.08 and 8.04, the Trustee’s and Paying Agent’s obligations in Section 8.03 and the rights, powers, protections and privileges accorded the
Trustee under Article VII shall 

  
 39 

 
survive until all Securities of that series are no longer outstanding. Thereafter, only the Company’s obligations in Section 7.07 and the Trustee’s and Paying Agent’s
obligations in Section 8.03 shall survive with respect to Securities of that series. 
 After making the irrevocable deposit pursuant
to this Section 8.01(b) and following satisfaction of the other conditions set forth herein, the Trustee on request shall acknowledge in writing the discharge of the Company’s obligations under this Indenture with respect to the Securities
of that series, except for those surviving obligations specified above. 
 In order to have money available on a payment date to pay
principal of or premium (if any) or interest on or any Additional Amounts with respect to the Securities, the Government Obligations shall be payable as to principal or interest on or before that payment date in such amounts as will provide the
necessary money. Any such Government Obligations shall not be callable at the issuer’s option. 
 (c) If the Company has previously
complied or is concurrently complying with Section 8.01(b) (other than any additional conditions specified pursuant to Section 2.01 that are expressly applicable only to covenant defeasance) with respect to Securities of a series, then,
unless this Section 8.01(c) is specified as not being applicable to Securities of that series as contemplated by Section 2.01, the Company may elect to be discharged (“legal defeasance”) from its obligations to make payments with
respect to Securities of that series, if: 
 (1) no Default or Event of Default under clauses (5) and (6) of
Section 6.01 hereof shall have occurred at any time during the period ending on the 91st day after the date of deposit contemplated by Section 8.01(b) (it being understood that this condition shall not be deemed satisfied until the
expiration of that period); 
 (2) unless otherwise specified with respect to Securities of that series as contemplated by
Section 2.01, the Company has delivered to the Trustee an Opinion of Counsel from counsel reasonably acceptable to the Trustee to the effect referred to in Section 8.01(b)(4) with respect to that legal defeasance, which opinion is based on
(i) a private ruling of the Internal Revenue Service addressed to the Company, (ii) a published ruling of the Internal Revenue Service or (iii) a change in the applicable federal income tax law (including regulations) after the date
of this Indenture; 
 (3) the Company has complied with any other conditions specified pursuant to Section 2.01 to be
applicable to the legal defeasance of Securities of that series pursuant to this Section 8.01(c); and 
 (4) the Company
has delivered to the Trustee a Company Request requesting legal defeasance of the Securities of that series and an Officers’ Certificate stating that all conditions precedent with respect to legal defeasance of the Securities of that series
have been complied with, together with an Opinion of Counsel to the same effect. 
 In that event, the Company will be discharged from its
obligations under this Indenture and the Securities of that series to pay principal of, premium (if any) and interest on, and any Additional Amounts with respect to, Securities of that series, the Company’s obligations under Sections 4.01, 4.02
and 5.01 shall terminate with respect to those Securities, and the entire indebtedness of the Company evidenced by those Securities shall be deemed paid and discharged. 

  
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 (d) If and to the extent additional or alternative means of satisfaction, discharge or defeasance
of Securities of a series are specified to be applicable to that series as contemplated by Section 2.01, the Company may terminate any or all of its obligations under this Indenture with respect to Securities of a series and any or all of its
obligations under the Securities of that series if it fulfills such other means of satisfaction and discharge as may be so specified, as contemplated by Section 2.01, to be applicable to the Securities of that series. 

(e) If Securities of any series subject to subsections (a), (b), (c) or (d) of this Section 8.01 are to be redeemed prior to
their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional sinking fund provisions, the terms of the applicable trust arrangement shall provide for that redemption, and the Company
shall make such arrangements as are reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company. 

SECTION 8.02 Application of Trust Money. 

The Trustee or a trustee reasonably satisfactory to the Trustee and the Company shall hold in trust money or Government Obligations deposited
with it pursuant to Section 8.01 hereof. It shall apply the deposited money and the money from Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of, premium (if any) and interest
on and any Additional Amounts with respect to the Securities of the series with respect to which the deposit was made. 
 SECTION 8.03
Repayment to Company. 
 The Trustee and the Paying Agent shall promptly pay to the Company at any time on the written request of the
Company any excess money or Government Obligations (or proceeds therefrom) held by them. 
 Subject to the requirements of any applicable
abandoned property laws, the Trustee and the Paying Agent shall pay to the Company on written request any money held by them for the payment of principal, premium (if any), interest or any Additional Amounts that remain unclaimed for two years after
the date on which that payment shall have become due. After payment to the Company, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and
all liability of the Trustee and the Paying Agent with respect to that money shall cease. 
 SECTION 8.04 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money or Government Obligations deposited with respect to Securities of any series
in accordance with Section 8.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting that application, the obligations of the Company
under this Indenture with respect to the Securities of that series and under the Securities of that series shall be revived and reinstated as though no deposit had 

  
 41 

 
occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money or Government Obligations in accordance with Section 8.01;
provided, however, that if the Company has made any payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Securities because of the reinstatement of its obligations, the Company shall be subrogated to
the rights of the Holders of those Securities to receive such payment from the money or Government Obligations held by the Trustee or the Paying Agent. 

SECTION 8.05 Government Obligations. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations
deposited pursuant to this Article VIII or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of outstanding Securities. 

ARTICLE IX 
 SUPPLEMENTAL
INDENTURES AND AMENDMENTS 
 SECTION 9.01 Without Consent of Holders. 

The Company and the Trustee may amend or supplement this Indenture or the Securities or waive any provision hereof or thereof without the
consent of any Holder: 
 (1) to cure any ambiguity, omission, defect or inconsistency; 

(2) to comply with Section 5.01; 

(3) to provide for uncertificated Securities in addition to or in place of certificated Securities, or to provide for the
issuance of bearer Securities (with or without coupons); 
 (4) to provide any security for any series of Securities or to
add guarantees of or additional obligors on, any series of Securities; 
 (5) to comply with any requirement in order to
effect or maintain the qualification of this Indenture under the TIA; 
 (6) to add to the covenants of the Company for the
benefit of the Holders of all or any series of Securities (and if those covenants are to be for the benefit of less than all series of Securities, stating that those covenants are expressly being included solely for the benefit of that series), or
to surrender any right or power herein conferred on the Company; 
 (7) to add any additional Events of Default with respect
to all or any series of the Securities (and, if any such Event of Default is applicable to less than all series of Securities, specifying the series to which that Event of Default is applicable); 

  
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 (8) to change or eliminate any of the provisions of this Indenture; provided that
any such change or elimination shall become effective only when there is no outstanding Security of any series created prior to the execution of that amendment or supplemental indenture that is adversely affected in any material respect by that
change in or elimination of that provision; provided, further, that any change made solely to conform the provisions of this Indenture to the description of any Security in a prospectus or prospectus supplement will not be deemed to adversely
affect any Security of any series in any material respect; 
 (9) to establish the form or terms of Securities of any series
as permitted by Section 2.01; 
 (10) to supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of Securities pursuant to Section 8.01; provided, however, that any such action shall not adversely affect the interest of the Holders of Securities of that series or
any other series of Securities in any material respect; or 
 (11) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one Trustee, pursuant to the requirements of Section 7.08. 
 Upon the request of the Company, accompanied by a Board
Resolution, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Company in the execution of any supplemental indenture authorized or permitted by the terms
of this Indenture and make any further appropriate agreements and stipulations that may be therein contained. 
 SECTION 9.02 With
Consent of Holders. 
 Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this
Indenture with the written consent (including consents obtained in connection with a tender offer or exchange offer for Securities of any one or more series or all series or a solicitation of consents in respect of Securities of any one or more
series or all series, provided that in each case that offer or solicitation is made to all Holders of then outstanding Securities of each such series (but the terms of that offer or solicitation may vary from series to series)) of the Holders of at
least a majority in principal amount of the then outstanding Securities of all series affected by that amendment or supplement (acting as one class). 

Upon the request of the Company, accompanied by a Board Resolution, and upon the filing with the Trustee of evidence of the consent of the
Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Company in the execution of that amendment or supplemental indenture. 

  
 43 

 It shall not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if that consent approves the substance thereof. 

The Holders of a majority in principal amount of the then outstanding Securities of one or more series or of all series may waive compliance
in a particular instance by the Company with any provision of this Indenture with respect to Securities of that series (including waivers obtained in connection with a tender offer or exchange offer for Securities of that series or a solicitation of
consents in respect of Securities of that series, provided that in each case that offer or solicitation is made to all Holders of then outstanding Securities of that series (but the terms of that offer or solicitation may vary from series to
series)). 
 However, without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not:

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

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

(3) reduce the principal of, premium on or any mandatory sinking fund payment with respect to, or change the Stated Maturity
of, any Security or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable on a declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 

(4) reduce the premium, if any, payable on the redemption of any Security or change the time at which any Security may or shall
be redeemed; 
 (5) change any obligation of the Company to pay Additional Amounts with respect to any Security; 

(6) change the coin or currency or currencies (including composite currencies) in which any Security or any premium, interest
or Additional Amounts with respect thereto are payable; 
 (7) impair the right to institute suit for the enforcement of any
payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security pursuant to Sections 6.07 and 6.08, except as limited by Section 6.06; 

(8) make any change in the percentage of principal amount of Securities necessary to waive compliance with certain provisions
of this Indenture pursuant to Section 6.04 or 6.07 or make any change in this sentence of Section 9.02; or 
 (9)
waive a continuing Default or Event of Default in the payment of principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities. 

  
 44 

 A supplemental indenture that changes or eliminates any covenant or other provision of this
Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of that series with respect to that covenant or other provision, shall be
deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
 The right of any Holder to
participate in any consent required or sought pursuant to any provision of this Indenture (and the obligation of the Company to obtain any such consent otherwise required from that Holder) may be subject to the requirement that such Holder shall
have been the Holder of record of any Securities with respect to which that consent is required or sought as of a date identified by the Company in a notice furnished to Holders in accordance with the terms of this Indenture. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holders of each
Security affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail that notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver. 
 SECTION 9.03 Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Securities shall comply in form and substance with the TIA as then in effect. 

SECTION 9.04 Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the
consent as to his or her Security or portion of a Security if the Trustee receives written notice of revocation before a date and time therefor identified by the Company in a notice furnished to such Holder in accordance with the terms of this
Indenture or, if no such date and time shall be identified, the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

The Company may, but shall not be obligated to, fix a record date (which need not comply with Section 316(c) of the TIA) for the purpose
of determining the Holders entitled to consent to any amendment, supplement or waiver or to take any other action under this Indenture. If a record date is fixed, then notwithstanding the provisions of the immediately preceding paragraph, those
Persons who were Holders at that record date (or their duly designated proxies), and only those Persons, shall be entitled to consent to that amendment, supplement or waiver or to revoke any consent previously given, whether or not those Persons
continue to be Holders after that record date. No consent shall be valid or effective for more than 90 days after that record date unless consents from Holders of the principal amount of Securities required hereunder for that amendment or waiver to
be effective shall have also been given and not revoked within that 90-day period. 

  
 45 

 After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless it
is of the type described in any of clauses (1) through (9) of Section 9.02 hereof. In that case, the amendment, supplement or waiver shall bind each Holder who has consented to it and every subsequent Holder that evidences the same
debt as the consenting Holder’s Security. 
 SECTION 9.05 Notation on or Exchange of Securities. 

If an amendment or supplement changes the terms of an outstanding Security, the Company may require the Holder of the Security to deliver it
to the Trustee. The Trustee may place an appropriate notation on the Security at the request of the Company regarding the changed terms and return it to the Holder. Alternatively, if the Company so determines, the Company in exchange for the
Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of that amendment or supplement. 

Securities of any series authenticated and delivered after the execution of any amendment or supplement may, and shall if required by the
Company, bear a notation in form approved by the Company as to any matter provided for in that amendment or supplement. 
 SECTION 9.06
Trustee to Sign Amendments, etc. 
 The Trustee shall sign any amendment or supplement authorized pursuant to this Article if the
amendment or supplement does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign any amendment or supplement, the Trustee shall
receive, and, subject to Section 7.01 hereof, shall be fully protected in relying on, an Officers’ Certificate and Opinion of Counsel provided at the expense of the Company as conclusive evidence that such amendment or supplement is
authorized or permitted by this Indenture, that it is not inconsistent herewith, and that it will be valid and binding on the Company in accordance with its terms. 

ARTICLE X 
 MISCELLANEOUS 

SECTION 10.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by operation of TIA § 318(c), the imposed
duties shall control. 

  
 46 

 SECTION 10.02 Notices. 

Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by
first-class mail (registered or certified, return receipt requested), telex, facsimile or overnight air courier guaranteeing next day delivery, to the other’s address: 

If to the Company: 
 McDermott
International, Inc. 
 757 N. Eldridge Pkwy. 

Houston, Texas 77079 
 Facsimile:
(281) 870-5755 
 Attention: General Counsel 

If to the Trustee: 
 U.S. Bank
National Association 
 5555 San Felipe Street, Suite 1150 

Houston, Texas 77056 
 Facsimile:
(713) 235-9213 
 Attention: Mauri Cowen 

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

 All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery. 
 Any notice or communication to a Holder shall be mailed by first-class mail, postage prepaid, to the
Holder’s address shown on the register kept by the Registrar (or in accordance with the rules and procedures of the Depositary). Failure to mail (or otherwise transmit in accordance with the rules and procedures of the Depositary) a notice or
communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 
 If a notice or
communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it, except in the case of notice to the Trustee, it is duly given only when received. 

If the Company mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 

All notices or communications, including without limitation notices to the Trustee or the Company by Holders, shall be in writing, except as
otherwise set forth herein. 
 In case by reason of the suspension of regular mail service, or by reason of any other cause, it shall be
impossible to mail any notice required by this Indenture, then such method of notification as shall be made with the approval of the Trustee shall constitute a sufficient mailing of that notice. 

  
 47 

 SECTION 10.03 Communication by Holders with Other Holders. 

Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Securities.
The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 SECTION 10.04 Certificate and
Opinion as to Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under this
Indenture, the Company shall, if requested by the Trustee, furnish to the Trustee at the expense of the Company: 
 (1) an
Officers’ Certificate (which shall include the statements set forth in Section 10.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed
action have been complied with; and 
 (2) an Opinion of Counsel (which shall include the statements set forth in
Section 10.05 hereof) stating that, in the opinion of that counsel, all those conditions precedent and covenants have been complied with. 

SECTION 10.05 Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 
 (1) a
statement that the Person making that certificate or opinion has read that covenant or condition; 
 (2) a brief statement as
to the nature and scope of the examination or investigation on which the statements or opinions contained in that certificate or opinion are based; 

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

(4) a statement as to whether or not, in the opinion of that Person, that condition or covenant has been complied with. 

SECTION 10.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or the Paying Agent may make reasonable rules
and set reasonable requirements for its functions. 

  
 48 

 SECTION 10.07 Legal Holidays. 

If a payment date is a Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period. 
 SECTION 10.08 No Recourse Against Others. 

A director, officer, employee, stockholder, partner or other owner of the Company or the Trustee, as such, shall not have any liability for
any obligations of the Company under the Securities or for any obligations of the Company or the Trustee under this Indenture or for any claim based on, in respect of or by reason of those obligations or their creation. Each Holder by accepting a
Security waives and releases all that liability. The waiver and release shall be part of the consideration for the issue of Securities. 

SECTION 10.09 Governing Law. 

THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING
EFFECT TO ANY PRINCIPLES OF CONFLICTS OF LAWS THEREUNDER TO THE EXTENT THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

SECTION 10.10 Waiver of Jury Trial. 

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

SECTION 10.11 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) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to
resume performance as soon as practicable under the circumstances. 
 SECTION 10.12 No Adverse Interpretation of Other Agreements.

 This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or any Subsidiary. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture. 

  
 49 

 SECTION 10.13 Successors. 

All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture
shall bind its successors. 
 SECTION 10.14 Severability. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall, to the fullest extent permitted by applicable law, not in any way be affected or impaired thereby. 

SECTION 10.15 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the
same agreement. 
 SECTION 10.16 Table of Contents, Headings, etc. 

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

  
 50 

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

					
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	 /s/ Perry L. Elders

		 	Name:	 	Perry L. Elders
		 	Title:	 	Senior Vice President and Chief
Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	 /s/ Mauri J. Cowen

		 	Name:	 	Mauri J. Cowen
		 	Title:	 	Vice President

  
 51EX-4.2

 Exhibit 4.2 

McDermott International, Inc. 

as Issuer 
 U.S. Bank
National Association 
 as Trustee 
  

 
 First
Supplemental Indenture 
 Dated as of April 7, 2014 

to the 
 Senior
Indenture 
 Dated as of April 7, 2014 
  

 
 7.75% Senior
Amortizing Notes due 2017 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
		
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATIONS	  	 	1	  
				
		 	Section 1.01	  	 Scope of Supplemental Indenture
	  	 	1	  
		 	Section 1.02	  	 Definitions and Interpretation
	  	 	1	  
		 	Section 1.03	  	 References to Interest
	  	 	5	  
		
	ARTICLE II GENERAL TERMS AND CONDITIONS OF THE NOTES	  	 	6	  
				
		 	Section 2.01	  	 Designation, Principal Amount and Original Issuance
	  	 	6	  
		 	Section 2.02	  	 Form of Notes
	  	 	6	  
		 	Section 2.03	  	 Installment Payments
	  	 	6	  
		 	Section 2.04	  	 Ranking
	  	 	7	  
		 	Section 2.05	  	 Depositary
	  	 	7	  
		 	Section 2.06	  	 Certificated Notes
	  	 	8	  
		
	ARTICLE III COVENANTS	  	 	8	  
				
		 	Section 3.01	  	 Covenants Made in the Base Indenture
	  	 	8	  
		 	Section 3.02	  	 Payment of Installment Payments
	  	 	8	  
		 	Section 3.03	  	 Paying Agent and Security Registra
	  	 	8	  
		 	Section 3.04	  	 Appointments to Fill Vacancies in Trustee’s Office
	  	 	9	  
		 	Section 3.05	  	 Deposit of Installment Payments; Paying Agents in the European Union
	  	 	9	  
		 	Section 3.06	  	 Reports
	  	 	9	  
		 	Section 3.07	  	 Statements as to Defaults
	  	 	9	  
		 	Section 3.08	  	 Additional Interest Notice
	  	 	10	  
		
	ARTICLE IV REDEMPTION AND SINKING FUNDS	  	 	10	  
				
		 	Section 4.01	  	 Article Three of the Base Indenture
	  	 	10	  
		 	Section 4.02	  	 Right to Redeem
	  	 	10	  
		 	Section 4.03	  	 No Sinking Fund
	  	 	10	  
		
	ARTICLE V DISCHARGE AND DEFEASANCE	  	 	10	  
				
		 	Section 5.01	  	 Inapplicability of Provisions of Base Indenture; Discharge of the Indenture
	  	 	10	  
		 	Section 5.02	  	 Discharge
	  	 	10	  
		 	Section 5.03	  	 Legal Defeasance
	  	 	11	  
		 	Section 5.04	  	 Covenant Defeasance
	  	 	11	  
		 	Section 5.05	  	 Conditions to Legal or Covenant Defeasance
	  	 	11	  
		 	Section 5.06	  	 Application of Trust Money
	  	 	12	  
		 	Section 5.07	  	 Repayment to Company
	  	 	12	  
		 	Section 5.08	  	 Reinstatement
	  	 	13	  
		 	Section 5.09	  	 Provisions to Survive Defeasance and Discharge
	  	 	13	  
		
	ARTICLE VI DEFAULTS AND REMEDIES	  	 	14	  
				
		 	Section 6.01	  	 Article VI of the Base Indenture
	  	 	14	  
		 	Section 6.02	  	 Events of Default
	  	 	14	  
		 	Section 6.03	  	 Acceleration; Rescission and Annulment
	  	 	15	  
		 	Section 6.04	  	 Additional Interest
	  	 	15	  
		 	Section 6.05	  	 Control by Majority
	  	 	16	  

  
 i 

									
		 	Section 6.06	  	 Limitation on Suits
	  	 	16	  
		 	Section 6.07	  	 Rights of Holders to Receive Installment Payments
	  	 	16	  
		 	Section 6.08	  	 Collection of Indebtedness; Suit for Enforcement by Trustee
	  	 	17	  
		 	Section 6.09	  	 Trustee May Enforce Claims Without Possession of Notes
	  	 	17	  
		 	Section 6.10	  	 Trustee May File Proofs of Claim
	  	 	17	  
		 	Section 6.11	  	 Restoration of Rights and Remedies
	  	 	17	  
		 	Section 6.12	  	 Rights and Remedies Cumulative
	  	 	17	  
		 	Section 6.13	  	 Delay or Omission Not a Waiver
	  	 	18	  
		 	Section 6.14	  	 Priorities
	  	 	18	  
		 	Section 6.15	  	 Undertaking for Costs
	  	 	18	  
		 	Section 6.16	  	 Waiver of Stay, Extension and Usury Laws
	  	 	18	  
		 	Section 6.17	  	 Notices from the Trustee
	  	 	19	  
		 	Section 6.18	  	 Notice of Default from the Company
	  	 	19	  
		 	Section 6.19	  	 Restrictions Applicable During a Default
	  	 	19	  
		
	 ARTICLE VII CONSOLIDATION, MERGER, SALE OR CONVEYANCE
	  	 	20	  
				
		 	Section 7.01	  	 Covenant Not to Amalgamate, Consolidate, Merge, Convey, Transfer or Lease Property Except Under Certain Conditions
	  	 	20	  
		 	Section 7.02	  	 Successor Corporation to Be Substituted
	  	 	20	  
		
	 ARTICLE VIII SUPPLEMENTAL INDENTURES
	  	 	21	  
				
		 	Section 8.01	  	 Supplemental Indentures Without Consent of Holders
	  	 	21	  
		 	Section 8.02	  	 Supplemental Indentures With Consent of Holders
	  	 	21	  
		 	Section 8.03	  	 Notice of Amendment or Supplement
	  	 	22	  
		
	 ARTICLE IX REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER
	  	 	22	  
				
		 	Section 9.01	  	 Offer to Repurchase
	  	 	22	  
		 	Section 9.02	  	 Early Mandatory Settlement Notice
	  	 	22	  
		 	Section 9.03	  	 Procedures for Exercise
	  	 	22	  
		 	Section 9.04	  	 Withdrawal of Repurchase Notice
	  	 	23	  
		 	Section 9.05	  	 Effect of Repurchase
	  	 	23	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	24	  
				
		 	Section 10.01	  	 Effect on Successors and Assigns
	  	 	24	  
		 	Section 10.02	  	 Governing Law; Waiver of Trial by Jury
	  	 	24	  
		 	Section 10.03	  	 Additional Amounts
	  	 	24	  
		 	Section 10.04	  	 No Security Interest Created
	  	 	25	  
		 	Section 10.05	  	 Trust Indenture Act
	  	 	25	  
		 	Section 10.06	  	 Benefits of Supplemental Indenture
	  	 	25	  
		 	Section 10.07	  	 Calculations
	  	 	25	  
		 	Section 10.08	  	 Execution in Counterparts
	  	 	26	  
		 	Section 10.09	  	 Ratification of Base Indenture
	  	 	26	  
		 	Section 10.10	  	 The Trustee
	  	 	26	  
		 	Section 10.11	  	 No Recourse Against Others
	  	 	26	  

  
 ii 

 FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
April 7, 2014, between McDermott International, Inc., a corporation incorporated under the laws of the Republic of Panama (the “Company”), and U.S. Bank National Association (the “Trustee”), as trustee,
supplements the senior indenture, dated as of April 7, 2014, between the Company and the Trustee (as amended or supplemented from time to time in accordance with the terms thereof, the “Base Indenture” and together with the
Supplemental Indenture, the “Indenture”). 
 RECITALS OF THE COMPANY 

WHEREAS, Company duly authorized the execution and delivery of the Base Indenture to provide for the issuance of unsecured senior debentures,
notes, bonds or other evidences of indebtedness in an unlimited aggregate principal amount to be issued from time to time in one or more series as provided in the Base Indenture; 

WHEREAS, Section 9.01(9) of the Base Indenture provides for the Company and the Trustee to enter into supplemental indentures to the Base
Indenture to establish the form and terms of Securities of any series as contemplated by Section 2.01 of the Base Indenture; 

WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture; 

WHEREAS, the Company desires and has requested the Trustee to join with it in the execution and delivery of this Supplemental Indenture in
order to supplement the Base Indenture as and to the extent set forth herein to provide for the issuance and the terms of the Company’s 7.75% Senior Amortizing Notes due 2017; 

WHEREAS, pursuant to the terms of the Base Indenture, the Company has authorized the creation and issuance under this Supplemental Indenture
of its 7.75% Senior Amortizing Notes due 2017, the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this Supplemental Indenture; and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and that all requirements necessary to
make (i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company have been
performed, and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 
 NOW, THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders, as
follows: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATIONS 

Section 1.01 Scope of Supplemental Indenture. The changes, modifications and supplements to the Base Indenture effected by
this Supplemental Indenture shall be applicable only with respect to, and shall govern only the terms of (and only the rights of the Holders and the obligations of the Company with respect to), the Notes, which may be issued from time to time, and
shall not apply to any other securities that may be issued under the Base Indenture (or govern the rights of the Holders or the obligations of the Company with respect to any such other securities) unless a supplemental indenture with respect to
such other securities specifically incorporates such changes, modifications and supplements. The provisions of this Supplemental Indenture shall, with respect to the Notes, supersede any corresponding provisions in the Base Indenture. Subject to the
preceding sentence, and except as otherwise provided herein, the provisions of the Base Indenture shall apply to the Notes and govern the rights of the Holders of the Notes and the obligations of the Company and the Trustee with respect thereto.

 Section 1.02 Definitions and Interpretation. For all purposes of the Supplemental Indenture, except as otherwise
expressly provided or unless the context otherwise requires: 
 (a) the terms defined in this Article I shall have the meanings
assigned to them in this Article I and include the plural as well as the singular; 

 (b) all words, terms and phrases defined in the Base Indenture (but not otherwise defined
herein) shall have the same meanings as in the Base Indenture and all words, terms and phrases defined in the TIA shall have the meanings provided therein; 

(c) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Supplemental
Indenture as a whole and not to any particular Article, Section, Exhibit or other subdivision; 
 (d) the definition of any term in this
Supplemental Indenture that is also defined in the Base Indenture, shall for the purposes of this Supplemental Indenture supersede the definition of such term in the Base Indenture; 

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

(f) “or” is not exclusive; and 

(g) the following terms have the meanings set forth below: 

“Additional Amounts” has the meaning set forth in Section 10.03(a). 

“Additional Interest” has the meaning specified in Section 6.04(a). 

“Applicable Procedures” means, with respect to any matter at any time, the policies and procedures of a Depositary, if any,
that are applicable to such matter at such time. 
 “Bankruptcy Law” means title 11 of the United States Code, as amended,
or any similar federal or state law for the relief of debtors. 
 “Base Indenture” has the meaning ascribed to it in the
first recital of this Supplemental Indenture. 
 “Business Day” means any day other than a Saturday, a Sunday or a day on
which the Federal Reserve Bank of New York is authorized or required by law or executive order to close or be closed. 

“Certificate of Authentication” means the Certificate of Authentication substantially in the form attached as a part of
Exhibit A hereto. 
 “Certificated Note” means a Note in definitive registered form. 

“Clearing Agency” means an organization registered as a “Clearing Agency” pursuant to Section 17A of the
Exchange Act. 
 “Close of Business” means 5:00 p.m., New York City time. 

“Common Stock” means the shares of common stock, par value $1.00 per share, of the Company authorized at the date of this
instrument as originally executed or shares of any class or classes of common stock resulting from any reclassification or reclassifications thereof. 

“Company” has the meaning ascribed to it in the first paragraph of this Supplemental Indenture. 

  
 2 

 “Component Note” means a Note in global form and attached to a Global Unit that
(a) shall evidence the number of Notes specified therein that are components of the Units evidenced by such Global Unit, (b) shall be registered on the Security Register in the name of U.S. Bank National Association, as attorney-in-fact of
holder(s) of the Units of which such Notes form a part, and (c) shall be held by the Purchase Contract Agent as attorney-in-fact for such holder(s), together with the Global Unit, as custodian of such Global Unit for the Depositary. 

“Corporate Trust Office” means the principal corporate trust office of the Trustee at which, at any particular time, its
corporate trust business shall be administered, which office at the date hereof is located at U.S. Bank, National Association, Attn: Corporate Trust Officer, 5555 San Felipe, Suite 1150, Houston, Texas 77056. 

“Covenant Defeasance” has the meaning ascribed to it in Section 5.04. 

“DTC” means The Depository Trust Company. 

“Early Mandatory Settlement Date” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Early Mandatory Settlement Notice” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Early Mandatory Settlement Notice Date” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Early Mandatory Settlement Right” has the meaning ascribed to it in the Purchase Contract Agreement. 

“EDGAR” means the Electronic Data-Gathering, Analysis, and Retrieval system of the SEC or any successor system thereto. 

“Event of Default” has the meaning ascribed to it Section 6.02. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any statute successor thereto, in each case as
amended from time to time, together with the rules and regulations promulgated thereunder. 
 “Fundamental Change” has the
meaning ascribed to it in the Purchase Contract Agreement. 
 “Global Note” has the meaning ascribed to it in
Section 2.02(b). 
 “Global Unit” has the meaning ascribed to such term in the Purchase Contract Agreement. 

“Holder” means a Person in whose name a Note is registered in the Security Register. 

“Indenture” has the meaning given in the recitals hereto. 

“Initial Principal Amount” means $4.1266 per Note. 

“Installment Payment” has the meaning ascribed to it in Section 2.03(a). 

“Installment Payment Date” means each January 1, April 1, July 1, and October 1, commencing on
July 1, 2014 and ending on the Maturity Date. 
 “Installment Payment Period” means the period from, and including,
the Issue Date to, but excluding, the first Installment Payment Date and each subsequent period from, and including, an Installment Payment Date to, but excluding, the immediately succeeding Installment Payment Date. 

“Issue Date” means April 7, 2014. 

  
 3 

 “Issuer Free Writing Prospectus” means the Issuer Free Writing Prospectus filed
with the SEC by the Company and dated April 1, 2014, relating to the offering of the Units. 
 “Issuer Order” means a
written order signed in the name of the Company by its Chairman of the Board of Directors, its President or one of its Vice Presidents, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the
Purchase Contract Agent or the Trustee. 
 “Legal Defeasance” has the meaning ascribed to it in Section 5.03. 

“Maturity Date” means April 1, 2017. 

“Note” and “Notes” have the respective meaning ascribed to them in Section 2.01(a). 

“Notice of Default” has the meaning ascribed to it in Section 6.02. 

“Outstanding” means, with respect to the Notes, notwithstanding anything to the contrary in Section 2.10 of the Base
Indenture, any Notes authenticated by the Trustee except (i) Notes cancelled by it, (ii) Notes delivered to it for cancellation and (iii)(A) Notes replaced pursuant to Section 2.09 of the Base Indenture, on and after the time such
Notes are replaced (unless the Trustee and the Company receive proof satisfactory to them that such Notes are held by a bona fide purchaser), (B) any and all Notes, as of the Maturity Date, if the Paying Agent holds, in accordance with the
Indenture, money sufficient to pay all of the Notes then payable, and (C) any and all Notes owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or of such other obligor, except that in determining whether
the Trustee shall be protected in relying upon any request, demand, authorization, direction, notice consent or waiver or other action that is to be made by a requisite principal amount of Notes then Outstanding, only such Notes which a Responsible
Officer of the Trustee knows to be so owned shall be disregarded. 
 “Paying Agent” means any Person (including the Company
acting in such capacity) authorized by the Company to pay the principal, interest and other amounts otherwise due on the Notes on behalf of the Company. The Trustee shall initially act as Paying Agent as provided in Section 3.03. The Company
may designate an alternate or additional Paying Agent by providing written notice to the Holders. 
 “Preliminary Prospectus
Supplement” means the preliminary prospectus supplement, dated March 31, 2014, related to the offering of the Units, as filed with the Securities and Exchange Commission. 

“Purchase Contract” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Purchase Contract Agreement” means the Purchase Contract Agreement, dated as of April 7, 2014, between the Company and
U.S. Bank National Association, as purchase contract agent and as Trustee. 
 “Registrar” with respect to the Notes,
initially means the Trustee. 
 “Regular Record Date” means, with respect to any Installment Payment Date, the immediately
preceding March 15, June 15, September 15 or December 15, as applicable. 
 “Reporting Event of
Default” has the meaning ascribed to it in Section 6.04(a). 
 “Repurchase Date” means a date specified by
the Company in the Early Mandatory Settlement Notice, which date shall be at least 20 but no more than 35 Business Days following the Early Mandatory Settlement Notice Date. 

“Repurchase Notice” means a notice in the form entitled “Form of Repurchase Notice” on the reverse side of the
Notes. 

  
 4 

 “Repurchase Price” means with respect to a Note to be repurchased pursuant to
Article IX, an amount equal to the principal amount of such Note as of the Repurchase Date, plus accrued and unpaid interest, if any, on such principal amount from, and including, the immediately preceding Installment Payment Date (or, if
none, from, and including, the Issue Date) to, but not including, such Repurchase Date, calculated at an annual rate of 7.75% (as increased by any Additional Interest); provided that, if the Repurchase Date falls after a Regular Record Date
and on or prior to the immediately succeeding Installment Payment Date, the Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the Holder as of the Close of Business on such Regular Record
Date and shall not be included in the Repurchase Price per Note. 
 “Repurchase Right” has the meaning ascribed to it in
Section 9.01. 
 “SEC” means the United States Securities and Exchange Commission. 

“Security Register” and “Security Registrar” have the meaning ascribed to them in the Purchase Contract
Agreement. 
 “Separate Note” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Separate Purchase Contract” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Significant Subsidiary” means, with respect to any Person, a Subsidiary of such person that would constitute a
“significant subsidiary” as such term is defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as in effect on the Issue Date. 

“Specified Tax Jurisdiction” has the meaning ascribed to it in Section 10.03. 

“Subsidiary,” when used with respect to any Person, means: 

(i) any corporation, limited liability company, association or other business entity of which more than 50.0% 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, limited liability company, 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 
 (ii) any partnership (a) the sole general partner or the managing general partner of which is such Person
or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“Successor Company” has the meaning ascribed to it in Section 7.01(a). 

“Trustee” has the meaning ascribed to it in the first paragraph of this Supplemental Indenture. 

“Underwriting Agreement” means the Underwriting Agreement, dated as of April 1, 2014, between the Company and Goldman,
Sachs & Co., as underwriter, relating to the Units. 
 “Unit” has the meaning ascribed to it in the Purchase
Contract Agreement. 
 Section 1.03 References to Interest. Any reference to interest on, or in respect of, any Note in
this Supplemental Indenture shall be deemed to include Additional Interest if, in such context, Additional Interest is, was or would be payable pursuant to Section 6.04(a). Any express mention of the payment of Additional Interest in any
provision hereof shall not be construed as excluding Additional Interest in those provisions hereof where such express mention is not made. 

  
 5 

 ARTICLE II 

GENERAL TERMS AND CONDITIONS OF THE NOTES 

Section 2.01 Designation, Principal Amount and Original Issuance. 

(a) Establishment; Designation. Pursuant to Section 2.01 of the Base Indenture, there is hereby established and authorized a new
series of Securities under the Indenture, which series of Securities shall be designated the “7.75% Senior Amortizing Notes due 2017” (the “Notes,” and “Note” means each note of such series having an
initial principal amount equal to the Initial Principal Amount). 
 (b) Initial Issuance. The aggregate principal amount of Notes
that may initially be authenticated and delivered under the Indenture is limited to $47,455,900 except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Notes pursuant to Sections 2.04,
2.05, 2.09, and 2.12 of the Base Indenture. 
 Section 2.02 Form of Notes. 

(a) The Notes will initially be issued as Component Notes in the form of Attachment 4 to the form of Global Unit attached as Exhibit A to the
Purchase Contract Agreement, and will be attached to the related Global Unit and registered in the name of U.S. Bank National Association, as attorney-in-fact of the holder(s) of such Global Unit. 

(b) Holders of Units have the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts and
Separate Notes, during the times, and under the circumstances, as provided in Section 2.03 of the Purchase Contract Agreement. Upon separation of any Unit into its constituent parts, (i) if such Unit is a Global Unit, (x) the Separate
Notes will initially be evidenced by Global Notes in the form of Exhibit A hereto (the “Global Note”) deposited with the Trustee as custodian for the Depositary and registered in the name of the Depositary or its nominee and
(y) the Trustee shall register (1) a decrease in the Global Unit and the amount of Notes represented thereby by the amount of such Separate Notes, and (2) a corresponding increase in the amounts of the Global Note, or (ii) if
such Unit is in definitive, registered form, the Separate Notes will be evidenced by a Certificated Note, in each case, as provided in Section 2.03 of the Purchase Contract Agreement. Following separation of any Unit into its constituent
Separate Note and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for
in Section 2.04 of the Purchase Contract Agreement and following such recreation, the Trustee, as applicable, shall register (i) an increase in the Global Unit and the amount of Notes represented by the Component Note attached to the
Global Unit as Attachment 4 thereto as set forth in Schedule A to such attachment, and (ii) a corresponding decrease in the amounts of the Global Note. 

(c) The terms of such Notes are incorporated by reference herein and are part of this Supplemental Indenture. 

(d) The Notes shall be issuable in denominations initially equal to the Initial Principal Amount and integral multiples in excess thereof.

 Section 2.03 Installment Payments. 

(a) On each Installment Payment Date, the Company shall pay an installment on each Note of $0.3906 (each such payment, an
“Installment Payment”) in cash at the place, at the respective times and in the manner provided in the Notes; provided that the Installment Payment on each Note on July 1, 2014 shall equal $0.3646. Installment Payments
shall be paid to the Person in whose name a Note is registered at the Close of Business on the Regular Record Date corresponding to such Installment Payment Date. 

  
 6 

 (b) Each Installment Payment shall constitute a payment of interest (at an annual rate of 7.75%)
and a partial repayment of principal on the Note, allocated as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	  	Amount of
Interest	 
	 July 1, 2014
	  	$	0.2900	  	  	$	0.0746	  
	 October 1, 2014
	  	$	0.3163	  	  	$	0.0743	  
	 January 1, 2015
	  	$	0.3224	  	  	$	0.0682	  
	 April 1, 2015
	  	$	0.3286	  	  	$	0.0620	  
	 July 1, 2015
	  	$	0.3350	  	  	$	0.0556	  
	 October 1, 2015
	  	$	0.3415	  	  	$	0.0491	  
	 January 1, 2016
	  	$	0.3481	  	  	$	0.0425	  
	 April 1, 2016
	  	$	0.3549	  	  	$	0.0357	  
	 July 1, 2016
	  	$	0.3617	  	  	$	0.0289	  
	 October 1, 2016
	  	$	0.3687	  	  	$	0.0219	  
	 January 1, 2017
	  	$	0.3759	  	  	$	0.0147	  
	 April 1, 2017
	  	$	0.3835	  	  	$	0.0071	  

 (c) Each Installment Payment for any Installment Payment Period shall be computed on the basis of a 360-day
year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full Installment Payment Period, such Installment Payment shall be computed on the basis of the actual number of days elapsed per 30-day
month. 
 (d) If any date on which an Installment Payment is payable is not a Business Day, then payment of the Installment Payment on such
date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then such Installment Payment shall
be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date when such Installment Payment was originally due. 

(e) Notwithstanding anything to the contrary herein, the amount of any Installment Payment for any Installment Payment Period shall be
increased by the amount of Additional Interest, if any, payable for such Installment Payment Period pursuant to Section 6.04(a). 

Section 2.04 Ranking. The Notes constitute unsecured, senior obligations of the Company. 

Section 2.05 Depositary. The Depositary for the Global Note shall initially be DTC. The Global Note (which shall initially
have a balance of zero Notes) shall be deposited on or about the Issue Date with, or on behalf of, DTC and registered in the name of Cede & Co., as nominee of DTC. 

None of the Company, the Trustee, the Security Registrar or the Paying Agent shall have any responsibility or obligation to any beneficial
owner in a Global Note, an agent member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any agent member, with respect to any ownership interest in the Notes or with respect to the delivery to any
agent member, beneficial owner or other Person (other than the Depositary) of any notice 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 and the Indenture shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of beneficial owners in Global Note shall be
exercised only through the Depositary pursuant to the Applicable Procedures. The Company, the Trustee, the Security Registrar and the Paying Agent shall be entitled to rely and shall be fully protected in relying upon information furnished by the
Depositary with respect to its members, participants and any beneficial owners. The Company, the Trustee, the Paying Agent and the Security Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered
Holder of any Global Note for all purposes of the Indenture relating to such Global Note (including the payment or delivery of amounts due hereunder and the giving of instructions or directions by or to any beneficial owner) as the sole Holder of
such Global Note and shall have no obligations to the beneficial owners thereof. None of the Company, the Trustee, the Paying Agent and the Security Registrar shall have any responsibility or liability for any acts or omissions of the Depositary
with respect to such Global Note, for the records of any such Depositary, including records in respect of the beneficial owners of any such Global Note, for any transactions between the Depositary and any agent member or between or among the
Depositary, any such agent member and/or any Holder or beneficial owner of such Global Note, or for any transfers of beneficial interests in any such Global Note. 

  
 7 

 Notwithstanding the foregoing, with respect to any Global Note, nothing herein shall prevent the
Company, the Trustee, or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any depositary (or its nominee), as a Holder, with respect to such Global Note or shall
impair, as between such Depositary and beneficial owners of such Global Note, the operation of customary practices governing the exercise of the rights of such depositary (or its nominee) as Holder of such Global Note. 

None of the Company, the Trustee, the Paying Agent or the Security Registrar shall have any obligation or duty to monitor, determine or
inquire as to compliance with any restrictions on transfer imposed under the Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among participants of DTC, 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 the Indenture, and to examine
the same to determine substantial compliance as to form with the express requirements hereof. 
 Section 2.06 Certificated
Notes. If: 
 (a) the Depositary is unwilling or unable to continue as Depositary for such Global Note and the Company is unable to
find a qualified replacement for such Depositary within 90 days; 
 (b) at any time the Depositary ceases to be a Clearing Agency; or 

(c) the Company elects, in its sole discretion, to allow some or all Global Units, Global Purchase Contracts or Global Notes to be
exchangeable for securities in registered definitive form; 
 then, in each case, the Company shall execute, and the Trustee, upon receipt of an Issuer
Order for the authentication and delivery of Certificated Notes, shall authenticate and deliver Certificated Notes in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Note or Notes
representing such Notes (or in an aggregate principal amount equal to the principal amount of the Notes in respect of which a beneficial owner has requested the issuance of Notes in physical, certificated form pursuant to clause (c) above) in
exchange for such Global Note or Notes (or relevant portion thereof). 
 ARTICLE III 

COVENANTS 
 Section 3.01
Covenants Made in the Base Indenture. 
 The Holders shall have the benefit of the covenants set forth in Article IV of the
Base Indenture unless specified otherwise herein. 
 Section 3.02 Payment of Installment Payments. 

The Company covenants and agrees that it will cause to be paid the Installment Payments (for the avoidance of doubt, as increased by any
Additional Interest), on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes. 

Section 3.03 Paying Agent and Security Registra. 

The Company hereby initially designates the Trustee as the Paying Agent, and Security Registrar, and the Corporate Trust Office, which shall
be in the continental U.S., shall be considered as one such office or agency of the Company for each of the aforesaid purposes. 

  
 8 

 With respect to any Global Note, the Corporate Trust Office of the Trustee or any Paying Agent
shall be the Place of Payment where such Global Note may be presented or surrendered for payment, registration of transfer or exchange, or where successor Notes may be delivered in exchange therefor; provided, however, that any such
payment, payment, registration of transfer or exchange effected pursuant to the Applicable Procedures for such Global Note shall be deemed to have been effected at the Place of Payment for such Global Note in accordance with the provisions of the
Indenture. 
 Section 3.04 Appointments to Fill Vacancies in Trustee’s Office. 

The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.08
of the Base Indenture, a Trustee, so that there shall at all times be a Trustee hereunder. 
 Section 3.05 Deposit of Installment
Payments; Paying Agents in the European Union. 
 (a) The Company shall, on or before each Installment Payment Date deposit with
the Paying Agent a sum sufficient to pay the Installment Payments then due and payable and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of any failure to take such action, provided that, if such
deposit is made on the Installment Payment Date, such deposit must be received by the Paying Agent by 11:00 a.m., New York City time, on such Installment Payment Date. 

(b) To the extent the Company maintains a Paying Agent in a member state of the European Union, it shall ensure that it maintains at least
one Paying Agent in a member state of the European Union that will not be obligated to withhold or deduct tax pursuant to the European Union Directive 2003/48/EC or any other directive implementing the conclusions of the ECOFIN Council meeting of
November 26 and 27, 2000 on the taxation of savings income, or any law implementing, or complying with or introduced in order to conform to, such directive. 

Section 3.06 Reports. 

This Section 3.06 replaces Section 4.03 of the Base Indenture in its entirety, with respect to the Notes. With respect to the Notes,
references in the Base Indenture to Section 4.03 of the Base Indenture are deemed replaced with references to this Section 3.06. 

The Company shall file with the Trustee, within 15 days after it is required to file the same with the SEC (after giving effect to any period
of extension provided by Rule 12b-25 under the Exchange Act), copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may from time to time by rules and
regulations prescribe) pursuant to Section 13 or 15(d) of the Exchange Act. Any such report, information or document that the Company files with the SEC through EDGAR (or any successor thereto) will be deemed to be filed with the Trustee for
the purposes of this Section 3.06 at the time of such filing through EDGAR (or such successor thereto), provided that the Trustee shall have no obligation whatsoever to determine whether such filing occurred. 

Delivery of any such reports, information and documents to the Trustee shall be for informational purposes only, and the Trustee’s
receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants
under the Indenture (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 Section 3.07
Statements as to Defaults. 
 The Company is required to deliver, within 120 calendar days after the end of each fiscal year, to
the Trustee an annual statement regarding compliance with the Indenture, and include in such statement, if any officer of the Company is aware of any Default or Event of Default, a statement specifying such Default or Event of Default and what
action the Company is taking or proposes to take with respect thereto. This Section 3.07 shall, with respect to the Notes, replace Section 4.04 of the Base Indenture to the extent inconsistent with this Section 3.07. 

  
 9 

 Section 3.08 Additional Interest Notice. 

If Additional Interest is payable by the Company pursuant to Section 6.04(a) hereof, the Company shall deliver to the Trustee an
Officers’ Certificate to that effect stating (a) the amount of such Additional Interest that is payable and (b) the Installment Payment increased by such Additional Interest. Unless and until a Responsible Officer of the Trustee
receives at the Corporate Trust Office such a certificate, the Trustee may assume without inquiry that no such Additional Interest is payable. If the Company has paid Additional Interest directly to the Persons entitled to them, the Company shall
deliver to the Trustee an Officers’ Certificate setting forth the particulars of such payment. 
 ARTICLE IV 

REDEMPTION AND SINKING FUNDS 

Section 4.01 Article Three of the Base Indenture. (a) Article III of the Base Indenture shall apply to the Notes;
provided, however, that the Company shall have the right to redeem the notes only in the circumstances set forth in this Article IV, and (b) the first paragraph of Section 3.04 of the Base Indenture shall not apply to the
Notes. 
 Section 4.02 Right to Redeem. If the Company becomes obligated to pay any Additional Amounts as a result of a
change in the laws or regulations of any Specified Tax Jurisdiction, or a change in any official position regarding the application or interpretation thereof (including a holding by a court of competent jurisdiction), which is publicly announced or
becomes effective on or after the Issue Date (or, if later, on or after the date the relevant Specified Tax Jurisdiction first becomes a Specified Tax Jurisdiction) and such Additional Amounts cannot (as certified in an Officers’ Certificate to
the Trustee) be avoided by the use of reasonable measures available to the Company, then the Company may, at its option, redeem the Notes, in whole but not in part, upon notice to be provided not more than 90 days before the next date on which it
would be obligated to pay Additional Amounts to Holders, at a Redemption Price equal to 100.0% of the principal amount thereof, plus accrued and unpaid interest to the Redemption Date (subject to the right of Holders of record on the Regular Record
Date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date). Notice of the Company’s intent to redeem the Notes shall not be effective until such time as the Company delivers to the Trustee an Opinion of
Counsel stating that the Company is obligated to pay Additional Amounts because of an amendment to or change in law or regulation or position as described in this Section 4.02. 

Section 4.03 No Sinking Fund. Sections 3.09, 3.10 and 3.11 of the Base Indenture shall not apply to the Notes. 

ARTICLE V 
 DISCHARGE AND
DEFEASANCE 
 Section 5.01 Inapplicability of Provisions of Base Indenture; Discharge of the Indenture. 

Article VIII of the Base Indenture shall not apply to the Notes. Instead, the discharge and defeasance provisions set forth in this
Article V shall, with respect to the Notes, supersede in their entirety Article VIII of the Base Indenture. 
 Section 5.02
Discharge. 
 Subject to Section 5.09, the Company’s obligations under the Notes and the Indenture will terminate if:

 (a) all Notes previously authenticated and delivered (other than destroyed, lost or stolen Notes that have been replaced) have been
delivered to the Trustee for cancellation and the Company has paid all sums payable by it hereunder; or 

  
 10 

 (b) (i) the Maturity Date occurs within one year, 

(ii) the Company irrevocably deposits in trust with the Trustee, in trust solely for the benefit of the Holders, money or U.S.
Government Obligations or a combination thereof sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certificate delivered to the Trustee, without consideration of any reinvestment, to
pay principal of and interest on the Notes to the Maturity Date and to pay all other sums payable by it hereunder, 
 (iii)
no Event of Default has occurred and is continuing on the date of the deposit; 
 (iv) the deposit will not result in a
breach or violation of, or constitute a default under, any agreement or instrument to which the Company is a party or by which it is bound; and 

(v) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, subject to customary
qualifications and assumptions, in each case stating that all conditions precedent provided for herein relating to the satisfaction and discharge of the Indenture have been complied with. 

Section 5.03 Legal Defeasance. 

The Company shall, subject to Section 5.09 and the satisfaction of the conditions set forth in Section 5.05, be deemed to have been
discharged from its obligations with respect to the Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company shall be deemed to have
paid and discharged the entire indebtedness represented by the Notes, which shall thereafter be deemed to be Outstanding only for the purposes of Section 5.06 hereof and the other Sections of this Supplemental Indenture referred to in
Section 5.09 below, and to have satisfied all of its obligations under the Notes and the Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments delivered to it by the Company acknowledging
the same). The Company may exercise Legal Defeasance with respect to the Notes notwithstanding the prior exercise of Covenant Defeasance with respect to the Notes. 

Section 5.04 Covenant Defeasance. 

The Company shall, subject to Section 5.09 and the satisfaction of the conditions set forth in Section 5.05, be released from its
obligations under the covenants contained in Section 3.06, in Section 6.19, and in Article VII (other than Section 7.01(a)(y)) and, on and after the date that the conditions set forth in Section 5.05 are satisfied with respect to
the Notes (hereinafter, “Covenant Defeasance”), the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in such covenants, whether directly or indirectly, by reason
of any reference elsewhere herein to such covenants or by reason of any reference in such covenants to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under
Section 6.02, but, except as specified above, the remainder of the Indenture and the Notes shall be unaffected thereby. 
 Upon the
Company’s exercise of Covenant Defeasance, subject to the satisfaction of the conditions set forth in Section 5.05 and the exceptions set forth in Section 5.09, clauses (b) through (g) of Section 6.02 shall not
constitute Defaults or Events of Default hereunder. 
 Section 5.05 Conditions to Legal or Covenant Defeasance. In order
to exercise either Legal Defeasance or Covenant Defeasance: 
 (a) the Company must irrevocably deposit, or cause to be deposited, with the
Trustee, in trust, under an irrevocable trust agreement, for the benefit of the Holders of the Notes, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally
recognized firm of independent public accountants or a nationally recognized investment bank, to pay, without reinvestment, the principal of, and interest on, the Notes then Outstanding (in the form of Installment Payments) on the applicable due
dates therefor; 

  
 11 

 (b) in the case of Legal Defeasance, the Company must deliver to the Trustee (i) an opinion
of United States tax counsel of recognized standing based on a change in the applicable United States federal income tax law after the Issue Date reasonably acceptable to the Trustee that meets the requirements provided for in Section 10.04 of
the Base Indenture or (ii) a ruling received from the Internal Revenue Service, in either case to the effect that the beneficial owners of the Notes will not recognize income, gain or loss for United States federal income tax purposes as a
result of such Legal Defeasance, and will be subject to United States 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; 

(c) in the case of Covenant Defeasance, the Company must deliver to the Trustee an opinion of United States tax counsel of recognized
standing reasonably acceptable to the Trustee that meets the requirements provided for in Section 10.04 of the Base Indenture to the effect that beneficial owners of the Notes will not recognize income, gain or loss for United States federal
income tax purposes as a result of such Covenant Defeasance, and will be subject to United States 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; 
 (d) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such deposit) or insofar as Events of Default from bankruptcy or insolvency events are concerned, at any time in the period ending on the 91st day after the date of deposit; 
 (e) such Legal Defeasance or Covenant Defeasance will
not result in a breach or violation of, or constitute a default under, any material agreement or instrument to which the Company is a party or by which the Company is bound; 

(f) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the
intent of preferring the Holders of the Notes over other creditors of the Company, or with the intent of defeating, hindering, delaying or defrauding creditors of the Company or others; and 

(g) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel in the United States reasonably
acceptable to the Trustee, each stating, subject to customary qualifications and assumptions, that the conditions precedent provided for or relating to Legal Defeasance or Covenant Defeasance, as applicable, in the Indenture have been complied with.

 Section 5.06 Application of Trust Money. 

Subject to Section 5.07, the Trustee will hold in trust the money or U.S. Government Obligations deposited with it pursuant to
Section 5.02 or pursuant to Legal Defeasance or Covenant Defeasance, and apply the deposited money and the proceeds from deposited U.S. Government Obligations to the payment of principal of and interest on the Notes (in the form of Installment
Payments) in accordance with the Notes and the Indenture. Such money and U.S. Government Obligations need not be segregated from other funds except to the extent required by law. 

Section 5.07 Repayment to Company. 

Upon the satisfaction and discharge of the Indenture, all monies, if any, then held by any Paying Agent (if other than the Trustee) shall,
upon written request of the Company, be repaid to it or paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability with respect to such monies. 

Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for payment of the Installment Payments with
respect to the Notes and not applied but remaining unclaimed by the Holders of the Notes for two years after the date upon which the Installment Payments with respect to such Notes, shall have become due and payable, shall be repaid to the Company
by the Trustee or the Paying Agent on demand, and all liability of the Trustee shall thereupon cease with respect to such monies; and the Holders shall thereafter look only to the Company for any payment that such Holder may be entitled to collect
unless an applicable abandoned property law designates another person; provided, however, that before the Trustee or such Paying Agent 

  
 12 

 
are required to make any such repayment, the Company shall cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general
circulation in The Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than thirty days from the date of such publication, any unclaimed
balance of such money then remaining will be repaid to the Company. 
 Section 5.08 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 5.06 by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under the Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to
Sections 5.02 or 5.05, as the case may be, until such time as the Trustee or the Paying Agent is permitted to apply all such money and shares of Common Stock in accordance with Section 5.06; provided, however, that if the Company
makes any payment of interest on, principal of or payment in respect of any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money, if
any, held by the Trustee or Paying Agent. 
 Section 5.09 Provisions to Survive Defeasance and Discharge. 

Notwithstanding the foregoing, no discharge, Legal Defeasance or Covenant Defeasance pursuant to this Article V shall affect the
following obligations to, or rights of, the Holders of the Notes: 
 (a) the rights of registration of transfer and exchange of the Notes;

 (b) the Company’s obligations with respect to the Notes concerning mutilated, defaced, destroyed, lost or stolen Notes; 

(c) the rights of Holders of Notes to receive payments in respect of the principal thereof and interest thereon (in the form of Installment
Payments), upon the original due dates therefor, but not upon acceleration; 
 (d) the rights, obligations, powers, trusts, duties,
indemnities and immunities of the Trustee, and the Company’s obligations in connection therewith; 
 (e) the rights of Holders of
Notes that are beneficiaries with respect to property so deposited with the Trustee payable to all or any of them; 
 (f) the maintenance
of an office or agency for payment and money for payments held in trust in respect of the Notes; and 
 (g) the rights and obligations
under Article IX hereof. 

  
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 ARTICLE VI 

DEFAULTS AND REMEDIES 

Section 6.01 Article VI of the Base Indenture. 

Article VI of the Base Indenture shall not apply to the Notes. Instead, this Article VI supersedes Article VI of the Base Indenture in its
entirety, and references in the Base Indenture to provisions of Article VI thereof shall be deemed to be references to the corresponding provisions of this Article VI. 

Section 6.02 Events of Default. Each of the following events shall be an “Event of Default” wherever used
with respect to the Notes: 
 (a) (i) default in any payment of Installment Payment on any Note when due and payable, and such default
continues for a period of 30 days or (ii) failure by the Company to pay the Repurchase Price of any Note when the same shall become due and payable; 

(b) failure by the Company to give notice of a Fundamental Change when any such notice is due pursuant to the terms of the Purchase Contract
Agreement; 
 (c) failure by the Company to comply with any of its agreements or covenants in, or provisions of, the Notes or the
Indenture, and such failure continues for 60 days after receipt by the Company of a Notice of Default; 
 (d) default by the Company or any
of the Company’s Significant Subsidiaries with respect to any mortgage, agreement or other instrument under which there may be outstanding, or by which there may be secured or evidenced any debt (other than non-recourse debt of a special
purpose Subsidiary) for money borrowed in excess of $55.0 million in the aggregate of the Company and such other Significant Subsidiaries, whether such debt now exists or shall hereafter be created, which default results (i) in such debt
becoming or being declared due and payable or (ii) from a failure to pay the principal of or premium, if any, on any such debt when due and payable at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise;
provided, however, that, with respect to any entity in which the Company owns, directly or indirectly, less than all but greater than 50% of the issued and Outstanding equity interests but for which the Company, directly or through an
intermediary, does not, and is not obligated pursuant to any existing agreement to, actively control, manage or conduct the business, such default would constitute an Event of Default only if it continues for a period of 30 days after the Company
becomes aware of such default; 
 (e) failure by the Company or any of the majority owned Significant Subsidiaries of the Company, within
60 days, to pay, bond or otherwise discharge any judgments or orders for the payment of money the total uninsured amount of which for the Company, or such other Subsidiary exceeds in the aggregate $55.0 million, which are not stayed pending appeal;

 (f) the Company or any majority owned Significant Subsidiary of the Company shall commence a voluntary case or other proceeding seeking
the liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary of the Company or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a
trustee, receiver, liquidator, custodian or other similar official of the Company or such Significant Subsidiary of the Company or any substantial part of the Company’s or such Significant Subsidiary of the Company’s property, or shall
consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it, or shall make a general assignment for the benefit of creditors, or shall fail generally
to pay its debts as they become due; or 
 (g) an involuntary case or other proceeding shall be commenced against the Company or any
majority owned Significant Subsidiary of the Company seeking liquidation, reorganization or other relief with respect to the Company or such Significant Subsidiary of the Company or its debts under any bankruptcy, insolvency or other similar law now
or hereafter in effect or seeking the appointment of a trustee, receiver, 

  
 14 

 
liquidator, custodian or other similar official of the Company or such Significant Subsidiary of the Company or any substantial part of its property, and such involuntary case or other proceeding
shall remain undismissed and unstayed for a period of thirty consecutive days. 
 A Default as described in Section 6.2(c) above shall
not be deemed an Event of Default until the Trustee notifies the Company, or the Holders of at least 25% in principal amount of the Notes then Outstanding notify the Company and the Trustee in writing, of the Default and the Company does not cure
the Default within 60 calendar days after receipt of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default” (such notice, a “Notice of Default”). 

Section 6.03 Acceleration; Rescission and Annulment. 

(a) If one or more Events of Default shall have occurred and be continuing (whatever the reason for such Event of Default and whether it
shall 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), then, and in each and every such case,
unless the principal of all of the Notes shall have already become due and payable, the Trustee or the holders of at least 25% in aggregate principal amount of the Notes then Outstanding, by notice in writing to the Company (and to the Trustee if
given by the Holders), may, and the Trustee, at the request of such Holders shall, declare 100% of the principal of, and accrued and unpaid interest, if any, on all the Notes to be due and payable immediately, and upon any such declaration the same
shall become and shall automatically be immediately due and payable, anything in the Indenture or in the Notes contained to the contrary notwithstanding; provided, however, that if an Event of Default specified in Section 6.02(f) or
Section 6.02(g) with respect to the Company (and not solely with respect to one or more Significant Subsidiaries of the Company) occurs and is continuing, the Installment Payments on any Notes shall be immediately due and payable. 

(b) The Holders of a majority in aggregate principal amount of the Notes then Outstanding, by written notice to the Company and to the
Trustee, may waive all Defaults with respect to the Notes (other than a Default or an Event of Default resulting from a failure to pay the Installment Payments) and rescind and annul such declaration of acceleration resulting from such Defaults
(other than a Default or an Event of Default resulting from a failure to pay the Installment Payments) and their consequences if (i) such rescission would not conflict with any judgment or decree of a court of competent jurisdiction and
(ii) all existing Events of Default, other than the nonpayment of the Installment Payments that have become due solely by such declaration of acceleration, have been cured or waived then such Default (other than a Default or an Event of Default
resulting from a failure to pay the Installment Payments) shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of the Indenture; provided, that no such waiver or rescission and
annulment shall extend to or shall affect any subsequent Default or Event of Default, or shall impair any right consequent thereon. 

Section 6.04 Additional Interest. 

(a) Notwithstanding any provisions of the Indenture to the contrary, during the first 180 days after the occurrence of an Event of Default
relating to the Company’s failure to comply with Section 3.06 (a “Reporting Event of Default”), the Company by notifying the Trustee, the Paying Agent and all of the Holders, in writing, on or before the Close of Business
on the fifth Business Day immediately following the date on which such Event of Default otherwise would occur, may elect that the sole remedy of the Holders for such a Reporting Event of Default will consist exclusively of the right to receive
additional interest on the Notes (“Additional Interest”) at a rate per year equal to (i) 0.25% of the Outstanding principal amount of the Notes for the first 90 days after the occurrence of such Reporting Event of Default and
(ii) 0.50 % of the Outstanding principal amount of the Notes for the 90 days immediately following such 90-day period, payable in arrears on each Installment Payment Date following the date on which such Reporting Event of Default first
occurs and in the same manner as regular interest on the Notes (which Additional Interest will, for the avoidance of doubt, result in an increase in the amount of any such Installment Payment). 

(b) (x) On the 181st day after such Reporting Event of Default (if such violation is not
cured or waived prior to such 181st day) or (y) if the Company does not elect to pay Additional Interest upon a Reporting Event of Default in accordance with Section 6.04(a) or fails to
timely provide the notice of the Company’s election to pay Additional Interests pursuant to Section 6.04(a), the Notes will be subject to acceleration as described in Section 6.03. 

  
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 Section 6.05 Control by Majority. 

At any time, the Holders of a majority of the aggregate principal amount of the Notes then Outstanding may direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or for exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or the Indenture or, subject to the
Trustee’s duties under Article VII of the Base Indenture and the Trust Indenture Act, that the Trustee determines to be unduly prejudicial to the rights of a Holder or to the Trustee, or that would potentially involve the Trustee in personal
liability unless the Trustee is offered indemnity or security satisfactory to it, in its sole discretion, against any loss, liability or expense to the Trustee that may result from the Trustee’s instituting such proceeding as the Trustee. Prior
to taking any action hereunder, the Trustee will be entitled to indemnification reasonably satisfactory to it against all losses and expenses caused by taking or not taking such action. 

Section 6.06 Limitation on Suits. Subject to Section 6.07 hereof, no Holder may pursue a remedy with respect to the
Indenture or the Notes unless: 
 (a) such Holder has previously delivered to the Trustee written notice that an Event of
Default has occurred and is continuing; 
 (b) the Holders of at least 25% of the aggregate principal amount of the Notes
then Outstanding have delivered to the Trustee a written request that the Trustee pursue a remedy with respect to such Event of Default; 

(c) such Holder or Holders have offered and, if requested, provided to the Trustee security or indemnity satisfactory to the
Trustee against any loss, liability or other expense in compliance with such written request; 
 (d) the Trustee has not
complied with such written request within 60 days after receipt of such written request and offer of security or indemnity; and 

(e) during such 60-day period, the Holders of a majority of the aggregate principal amount of the Notes then Outstanding did
not deliver to the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such written request. 
 A Holder may not
use the Indenture to prejudice the rights of any other Holder or to obtain a preference or priority over any other Holder, it being understood that the Trustee does not have any affirmative duty to ascertain whether any usage of the Indenture by a
Holder is unduly prejudicial to such other Holders. 
 Section 6.07 Rights of Holders to Receive Installment Payments.

 Notwithstanding anything to the contrary elsewhere in the Indenture, the right of any Holder to receive Installment Payments on its
Notes, on or after the respective due date, or to bring suit for the enforcement of any such payment, will not be impaired or affected without the consent of such Holder and will not be subject to the requirements of Section 6.06 hereof. 

  
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 Section 6.08 Collection of Indebtedness; Suit for Enforcement by Trustee. 

If an Event of Default specified in Section 6.02(a) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its
own name and as trustee of an express trust against the Company for the whole amount of Installment Payments on the Notes or Repurchase Price, as applicable, and such further amount as is sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, as well as any other amounts that may be due under Section 7.07 of the Base Indenture. 

Section 6.09 Trustee May Enforce Claims Without Possession of Notes. 

All rights of action and claims under the 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 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 6.10 Trustee May File Proofs of Claim. 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable to have the claims of
the Trustee and the Holders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations, will be entitled to collect, receive and distribute any money or other
property payable or deliverable on any such claims, and any custodian 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 consents to the making of such
payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07
of the Base Indenture. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 of the Base Indenture out of
the estate in any such proceeding, will be denied for any reason, payment of the same will be secured by a lien on, and is paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to
receive in such proceeding, whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained will be deemed to authorize the Trustee to authorize or consent to, or to accept or to adopt on behalf of
any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.11 Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under the Indenture 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 Company, 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 6.12 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in Section 2.09 of
the Base Indenture, 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. 

  
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 Section 6.13 Delay or Omission Not a Waiver. 

No delay or omission of the Trustee or of any Holder 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 VI 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 (subject to the limitations contained in the Indenture) or by the Holders, as the case may be. 

Section 6.14 Priorities. 

If the Trustee collects any money pursuant to this Article VI, it will pay out the money in the following order: 

FIRST: to the Trustee, its agents and attorneys for amounts due under Section 7.07 of the Base Indenture, including payment of all
compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 
 SECOND:
to the Holders, for any amounts due and unpaid on the principal of and accrued and unpaid interest on any Note, without preference or priority of any kind, according to such amounts due and payable on all of the Notes for principal and interest; and

 THIRD: the balance, if any, to the Company or to such other party as a court of competent jurisdiction directs. 

The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section 6.14. If the Trustee so fixes
a record date and a payment date, at least 15 days prior to such record date, the Company will deliver to each Holder and the Trustee a written notice, which notice will state such record date, such payment date and the amount of such payment. 

Section 6.15 Undertaking for Costs. 

All parties to the Indenture agree, and each Holder, by such Holder’s acceptance of a Note, shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any right or remedy under the Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the
claims or defenses made by such party litigant; provided, however, that the provisions of this Section 6.15 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder pursuant to Section 6.07,
or to any suit by a group of Holders pursuant to Section 6.07, holding in the aggregate more than 10% in aggregate principal amount of the Notes then Outstanding. 

Section 6.16 Waiver of Stay, Extension and Usury Laws. 

The Company covenants that, to the extent that it may lawfully do so, it will not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of the Indenture; and the Company, 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, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will instead suffer
and permit the execution of every such power as though no such law has been enacted. 

  
 18 

 Section 6.17 Notices from the Trustee. 

Notwithstanding anything to the contrary in the Base Indenture, including Section 7.05, whenever a Default occurs and is continuing and
is known to the Trustee, the Trustee must mail notice of such Default to the Holders within 90 days after the date on which such Default first occurred. Except in the case of a Default in the payment of an Installment Payment on any Note, the
Trustee may withhold notice if and so long as the Trustee in good faith determine that withholding notice is in the interests of the Holders. 

Section 6.18 Notice of Default from the Company. 

The Company shall deliver to the Trustee prompt written notice of the occurrence of any Default or Event of Default, written notice of any
Default or Event of Default, their status and the action that the Company is taking or proposes to take with respect thereto. 

Section 6.19 Restrictions Applicable During a Default. 

If there shall have occurred and be continuing a Default under the Indenture, then: 

(a) the Company and its Subsidiaries shall not declare or pay any dividend on, make any distributions relating to, or redeem, purchase,
acquire or make a liquidation payment relating to, any of the Company’s Capital Stock or make any guarantee payment with respect thereto other than: 

(i) purchases, redemptions or other acquisitions of shares of the Company’s Capital Stock in connection with any
employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors or consultants; 

(ii) purchases of shares of the Company’s Common Stock pursuant to a contractually binding requirement to buy stock
existing prior to such Default, including under a contractually binding stock repurchase plan; 
 (iii) as a result of an
exchange or conversion of any class or series of the Company’s Capital Stock that, by its terms as in effect prior to the occurrence of such Default, is exchangeable for or convertible into any other class or series of the Company’s
Capital Stock; and 
 (iv) the purchase of fractional interests in shares of the Company’s Capital Stock pursuant to
the conversion or exchange provisions of such Capital Stock or the security being converted or exchanged; and 
 (b) the Company and its
Subsidiaries shall not make any payment of interest, principal or premium on, or repay, purchase or redeem, any unsecured debt securities issued by the Company that rank equally with or junior to the Notes other than pro rata payments of
accrued and unpaid interest on the Notes and any other unsecured debt securities issued by the Company that rank equally with the Notes, except and to the extent the terms of any such debt securities would prohibit the Company from making such
pro rata payment; 
 provided, however, that the foregoing restrictions shall not apply to any stock dividends or distributions with respect
to the Company’s Capital Stock where the Company exclusively issues shares of Common Stock in such dividends or distributions. 

  
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 ARTICLE VII 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

Section 7.01 Covenant Not to Amalgamate, Consolidate, Merge, Convey, Transfer or Lease Property Except Under Certain
Conditions. Article V of the Base Indenture shall not apply with respect to the Notes, and this Article VII supersedes the entirety thereof, with respect to the Notes. With respect to the Notes, references in the Base Indenture to Article V
of the Base Indenture are deemed replaced with references to this Article VII. 
 The Company covenants that it will not amalgamate or
consolidate with, merge with or into, or convey, transfer or lease its properties and assets substantially as an entirety to another Person unless: 

(a) (x) the resulting, surviving or transferee Person (the “Successor Company”), if not the Company, is (and, if the Company
remains a party to the Notes and the Indenture after giving effect to such transaction and the requirements in respect thereof under the Indenture, the Company is) a corporation organized and existing under the laws of the United States of America
or a U.S. state, the District of Columbia, the Republic of Panama, any member state of the European Union, Curaçao, Sint Maarten, the Cayman Islands, Bermuda or the British Virgin Islands, and (y) the Successor Company, if not the
Company, expressly assumes, by supplemental indenture, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Notes and the Indenture; 

(b) the obligor under the Indenture will not, immediately after the relevant transaction, be in default in the performance of its covenants
and conditions under the Units or the Notes; and 
 (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, subject to customary qualifications and assumptions, each stating that such transaction and such modifications to the Indenture, if any, comply with the requirements therefor under this Article VII. 

This Section 7.01 shall not apply to any conveyance, transferor lease of assets between or among the Company and its Subsidiaries. 

Section 7.02 Successor Corporation to Be Substituted. 

In case of any such amalgamation, consolidation, merger, conveyance, transfer or lease and upon the assumption by the Successor Company, by
supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the Installment Payments on all of the Notes and the due and punctual performance of all of the covenants and
conditions of the Indenture to be performed by the Company under the Indenture, such Successor Company shall succeed to and be substituted for, and may exercise every right and power of, the Company under the Indenture, with the same effect as if it
had been named herein as the Company, and, except in the case of a lease, the Company will be relieved of any further obligation under the Indenture and the Notes. Such Successor Company thereupon may cause to be signed, and may issue either in its
own name or in the name of the Company any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such Successor Company instead of the Company and
subject to all the terms, conditions and limitations in the Indenture prescribed, the Trustee shall authenticate and shall deliver, or cause to be authenticated and delivered, any Notes that previously shall have been signed and delivered by the
officers of the Company to the Trustee for authentication, and any Notes that such Successor Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal
rank and benefit under the Indenture as the Notes theretofore or thereafter issued in accordance with the terms of the Indenture as though all of such Notes had been issued at the date of the execution hereof. In the event of any such amalgamation,
consolidation, merger, conveyance or transfer (but not in the case of a lease), the Person named as the “Company” in the first paragraph of the Indenture or any successor that shall thereafter have become such in the manner prescribed in
this Article VII may be dissolved, wound up and liquidated at any time thereafter and, except in the case of a lease, such Person shall be released from its liabilities as obligor and maker of the Notes and from its obligations under the Indenture.

  
 20 

 In case of any such amalgamation, consolidation, merger, conveyance, transfer or lease, such
changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 
 ARTICLE
VIII 
 SUPPLEMENTAL INDENTURES 

Section 8.01 Supplemental Indentures Without Consent of Holders. Section 9.01 of the Base Indenture shall not apply
with respect to the Notes, and this Section 8.01 shall replace Section 9.01 of the Base Indenture in its entirety, with respect to the Notes. With respect to the Notes, references in the Base Indenture to Section 9.01 of the Base
Indenture are deemed replaced with references to this Section 8.01 hereof. 
 Without the consent of any Holder, the Company (when
authorized by a Board Resolution) and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form reasonably satisfactory to the Trustee, for any of the following purposes: 

(a) evidence the succession by a successor corporation and to provide for the assumption by a successor of the Company’s obligations
under the Indenture; 
 (b) add to the covenants of the Company such further covenants, restrictions or conditions for the benefit of the
Holders, add Events of Default for the benefit of the Holders or to surrender any of the Company’s rights or powers; 
 (c) to comply
with any requirement of the SEC in connection with any qualification of the Indenture under the Trust Indenture Act; 
 (d) to secure the
Notes; 
 (e) to add guarantees with respect to the Notes; 

(f) to evidence and provide for the acceptance of appointment with respect to the Notes by a successor Trustee in accordance with the
Indenture; 
 (g) to cure any ambiguity, omission, defect or inconsistency in the Indenture or the Notes; and 

(h) to make any change that does not adversely affect the rights of any Holder in any material respect; provided that any amendment to conform
the terms of the Indenture to the description thereof in the Preliminary Prospectus Supplement, as supplemented by the Issuer Free Writing Prospectus, will not be deemed to be adverse to any Holder. 

Section 8.02 Supplemental Indentures With Consent of Holders. Section 9.02 of the Base Indenture shall not apply with
respect to the Notes, and this Section 8.02 shall replace Section 9.02 of the Base Indenture in its entirety, with respect to the Notes. With respect to the Notes, references in the Base Indenture to Section 9.02 of the Base Indenture
are deemed replaced with references to Section 8.02 hereof. 
 With the consent of the Holders of not less than a majority in principal
amount of the Notes then Outstanding (whether or not part of a Unit) affected by such supplemental indenture, including without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Units and/or Separate
Notes and by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to,
changing in any manner or eliminating any of, or waiving compliance to any of the provisions of the Indenture or of modifying in any manner the rights of the Holders under the Indenture and the Notes; provided, however, that no such
supplemental indenture shall, without the consent of each Holder of the Notes then Outstanding (whether or not part of a Unit) affected thereby: 

(a) change any Installment Payment Date or the amount owed on any Installment Payment Date; 

  
 21 

 (b) reduce the principal amount of the Notes or the rate of interest thereon; 

(c) reduce the percentage in principal amount of Notes then Outstanding the consent of whose Holders is required for any indenture
supplemental hereto or for any waiver of compliance with provisions of the Indenture or Events of Default and their consequences provided for herein; 

(d) change the ranking of the Notes; 

(e) make the Notes payable in a currency other than that stated in the Notes; 

(f) reduce the Repurchase Price or amend or modify in any manner adverse to the Holders the Company’s obligation to make payment of the
Repurchase Price or give notices in respect thereof; 
 (g) impair the right to institute suit for the enforcement of the Notes; or 

(h) make any change in the percentage of Holders required to consent to any amendment, modification or waiver of any provision of the
Indenture or make any change to this sentence. 
 It shall not be necessary for any Act or consent of Holders under this Section 9.03
to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act or consent shall approve the substance thereof. 

Section 8.03 Notice of Amendment or Supplement. After an amendment or supplement under this Article VIII becomes
effective, the Company shall mail to the Holders a notice briefly describing such amendment or supplement. However, the failure to give such notice to all the Holders, or any defect in the notice, shall not impair or affect the validity of the
amendment or supplement. 
 ARTICLE IX 

REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER 

Section 9.01 Offer to Repurchase. If the Company elects to exercise its Early Mandatory Settlement Right with respect to
the Purchase Contracts, then each Holder of Notes (whether any such Note is a Separate Note or a component of a Unit) shall have the right (the “Repurchase Right”) to require the Company to repurchase some or all of its Notes for
cash at the Repurchase Price per Note to be repurchased on the Repurchase Date, pursuant to Section 9.03. The Company shall not be required to repurchase a portion of a Note. 

Section 9.02 Early Mandatory Settlement Notice. If the Company elects to exercise its Early Mandatory Settlement Right in
respect of the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, the Company shall provide the Trustee and the Holders of the Notes with a copy of the Early Mandatory Settlement Notice delivered pursuant to the Purchase
Contract Agreement. 
 Section 9.03 Procedures for Exercise. 

(a) To exercise the Repurchase Right, a Holder must deliver, at or prior to the Close of Business on the Business Day immediately preceding
the Repurchase Date, the Notes to be repurchased (or the Units if the relevant Notes have not been separated from the Units into their constituent components) to the Paying Agent, together with a duly completed written Repurchase Notice, in each
case in accordance with the Applicable Procedures, unless the Notes are Certificated Notes (or the Units are not in the form of Global Units, as the case may be), in which case such Holder must deliver the Notes to be repurchased (or Units) to the
Paying Agent or Trustee, duly endorsed for transfer to the Company, together with a Repurchase Notice, to the Paying Agent or Trustee. 

  
 22 

 (b) The Repurchase Notice must state the following: 

(i) if Certificated Notes or Units have been issued, the certificate numbers of the Notes or Units, or if not certificated,
the Repurchase Notice must comply with the Applicable Procedures; 
 (ii) the number of Notes to be repurchased; and 

(iii) that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and the
Indenture. 
 Section 9.04 Withdrawal of Repurchase Notice 

(a) A Holder may withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice of withdrawal delivered to the Paying
Agent, prior to the Close of Business on the Business Day immediately preceding the Repurchase Date. 
 (b) The Notice of withdrawal must
state the following: 
 (i) the number of Notes to be withdrawn; 

(ii) if Certificated Notes or Units have been issued, the certificate numbers of the Notes or Units, as applicable, or if not
certificated, the notice of withdrawal must comply with the Applicable Procedures; and 
 (iii) the number of Notes, if any,
that remain subject to the Repurchase Notice. 
 Section 9.05 Effect of Repurchase 

(a) The Company shall be required to repurchase the Notes with respect to which the Repurchase Right has been exercised and not duly
withdrawn. To effectuate such repurchase, the Company shall deposit immediately available funds with the Paying Agent on the later of (i) the Repurchase Date and (ii) the time of book-entry transfer or delivery of the Notes or Units. 

(b) If the Paying Agent holds money on the Repurchase Date sufficient to pay the Repurchase Price with respect to those Notes for which the
Repurchase Right has been exercised, then (i) such Notes shall cease to be outstanding and interest shall cease to accrue thereon (whether or not book-entry transfer of the Notes or Units, as applicable, is made or whether or not the Notes or
Units, as applicable, are delivered as required herein), and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price and, if the Repurchase Date falls between a Regular Record Date and the
corresponding Installment Payment Date, the related Installment Payment); provided, however, that if the Repurchase Date falls after a Regular Record Date and on or prior to the immediately succeeding installment Payment Date, then the
Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the Holder as of the Close of Business on such Regular Record Date and shall not be included in the Repurchase Price per note. 

(c) The Company shall, in connection with any repurchase offer pursuant to this Article IX, if required by applicable provisions of the
Exchange Act or SEC regulations thereunder, (i) comply with the provisions of the tender offer rules under the Exchange Act that may then be applicable, and (ii) file a Schedule TO or any other required schedule under the Exchange Act.

 (d) Notwithstanding anything to the contrary herein, no Notes may be repurchased at the option of Holders if the principal amount
thereof has been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Repurchase Price with respect to such
Notes). 

  
 23 

 ARTICLE X 

MISCELLANEOUS 

Section 10.01 Effect on Successors and Assigns. Notwithstanding anything to the contrary in the Base Indenture, all
agreements of the Company, the Trustee, the Registrar and the Paying Agent in the Indenture and the Notes will bind their respective successors. 

Section 10.02 Governing Law; Waiver of Trial by Jury. Notwithstanding Section 10.09 of the Base Indenture, the Notes
and the Indenture any claim, controversy or dispute arising under or related to the Notes, shall be governed by, and construed in accordance with, the laws of the State of New York (without regard to the conflicts of law principles thereof that
would result in the application of law other than the law of the State of New York). 
 EACH PARTY HERETO, AND EACH HOLDER OF A NOTE BY
ACCEPTANCE THEREOF, HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THE INDENTURE. 

Section 10.03 Additional Amounts. All payments made by or on behalf of the Company under or with respect to the Notes will
be made without withholding or deduction for or on account of any taxes imposed or levied by or on behalf of any Panamanian taxing authority or any political subdivision or any authority or agency therein or thereof having power to tax, or any other
jurisdiction in which the Company (including, for the purposes of this section, any successor entity) are organized, incorporated, engaged in business or are otherwise resident or treated as resident for tax purposes, or any jurisdiction from or
through which payment is made (including, without limitation, the jurisdiction of each paying agent) (each a “Specified Tax Jurisdiction”), unless required by law or regulation of any such taxing authority. If the Company is
obligated to withhold or deduct any amount on account of taxes imposed by any Specified Tax Jurisdiction from any payment made with respect to the Notes, the Company will: 

(a) subject to the limitations below, pay to each Holder such additional amounts (“Additional Amounts”) as may be necessary
so that the net amount received by each Holder (including Additional Amounts) after such withholding or deduction will not be less than the amount such Holder would have received if such taxes had not been withheld or deducted; 

(b) furnish to the Trustee for the benefit of the Holders, within 60 days after the date payment of any taxes is due pursuant to applicable
law, certified copies of an official receipt of the relevant government authorities for all amounts deducted or withheld pursuant to applicable law, or if such receipts are not readily obtainable without significant expense (as reasonably determined
by the Company), other evidence of payment by the Company of those taxes reasonably satisfactory to the Trustee, which the Trustee will make available to the Holders or beneficial owners of Notes upon reasonable request; and 

(c) at least 15 days prior to each date on which any Additional Amounts are payable, deliver to the Trustee an Officers’ Certificate
setting forth the calculation of the Additional Amounts to be paid and such other information as the Trustee may request to enable the Trustee to pay such Additional Amounts to Holders on the payment date. 

Notwithstanding the foregoing, the Company will not pay Additional Amounts with respect to a payment made to any Holder or beneficial owner of
an Note: 
 (1) which is subject to such taxes by reason of the Holder or the beneficial owner being a resident, domicile or national of, or
engaged in business or maintaining a permanent establishment or other physical presence in or otherwise having some connection with, the relevant Specified Tax Jurisdiction otherwise than by the mere acquisition, holding or disposition of the Notes,
enforcement of rights thereunder or the receipt of payments thereunder; 

  
 24 

 (2) for or on account of any taxes imposed or deducted or withheld by reason of the failure of
the Holder or beneficial owner of the Notes to complete, execute and deliver to the Company any customary form or document, to the extent applicable to such Holder or beneficial owner, that may be required by law (including any applicable tax
treaty) or by reason of administration of such law and which is reasonably requested in writing to be delivered to the Company in order to enable the Company to make payments on the Notes, without deduction or withholding for taxes, or with
deduction or withholding of a lesser amount, which form or document shall be delivered within 60 days of a written request therefor by us; 

(3) for or on account of any estate, inheritance, gift, sales, transfer, capital gains, excise, personal property or similar tax, assessment
or other governmental charge; 
 (4) for or on account of any tax, duty, assessment or other governmental charge that is payable otherwise
than by withholding from payments under or with respect to the Notes; 
 (5) where the payment could have been made without deduction or
withholding if the beneficiary of the payment had presented the Note for payment within 30 days after the date on which such payment or such Note became due and payable or the date on which payment thereof is duly provided for, whichever is later;

 (6) if the Holder is a fiduciary, partnership or person other than the sole beneficial owner of that payment, to the extent that such
payment would be required to be included in income under the laws of the relevant taxing jurisdiction, for tax purposes, of a beneficiary or settler with respect to such fiduciary, a member of such partnership or a beneficial owner who, in each
case, would not have been entitled to such Additional Amounts had such beneficiary, settler, partner or beneficial owner been the Holder thereof; or 

(7) any combination of the instances described in the foregoing clauses (1) through (6) above. 

Any reference in the Indenture to the payment of principal, premium, if any, interest, purchase price, redemption price or any other amount
payable under or with respect to any Note, will be deemed to include the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. The Company’s obligation to make
payments of Additional Amounts will survive any termination of the Indenture or the defeasance of any rights thereunder. 
 The Company will
promptly pay when due any present or future stamp, issue, registration, documentation, court or similar documentary taxes or any other excise or property taxes, charges or similar levies (including interest and penalties with respect thereto) that
arise in a Specified Tax Jurisdiction from the execution, delivery or registration of each Note or any other document or instrument referred to herein or therein. 

Section 10.04 No Security Interest Created. Nothing in the Indenture or in the Notes, expressed or implied, shall be
construed to constitute a security interest with respect to the Notes under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

Section 10.05 Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the Trust
Indenture Act that is required under such Act to be a part of and govern the Indenture, the latter provision shall control. If any provision of the Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or
excluded, the latter provision shall be deemed to apply to the Indenture as so modified or to be excluded, as the case may be. 

Section 10.06 Benefits of Supplemental Indenture. Nothing in this Supplemental Indenture or in the Notes, expressed or
implied, will give to any Person, other than the parties hereto, any Paying Agent, any authenticating agent, any Registrar or their successors hereunder or the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim under
this Supplemental Indenture. 
 Section 10.07 Calculations. Except as otherwise provided in this Supplemental Indenture,
the Company shall be responsible for making all calculations called for under the Notes. The Company shall make all these calculations in good faith and, absent manifest error, the Company’s calculations shall be final and binding on 

  
 25 

 
Holders of Notes. The Company shall provide a schedule of its calculations to each of the Trustee, and the Trustee is entitled to rely conclusively upon the accuracy of the Company’s
calculations without independent verification. The Trustee will forward the Company’s calculations to any Holder upon the written request of that Holder at the sole cost and expense of the Company. 

Section 10.08 Execution in Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of
which shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 Section 10.09
Ratification of Base Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Base Indenture in the manner and to
the extent herein provided. For the avoidance of doubt, each of the Company and each Holder of Notes, by its acceptance of such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the
Trustee under the Base Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee hereunder, in each of its capacities hereunder as if set forth herein in full. 

Section 10.10 The Trustee. The recitals in this Supplemental Indenture are made by the Company only and not by the Trustee,
and all of the provisions contained in the Base Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Notes and of this Supplemental Indenture as fully and with like effect
as set forth in full herein. 
 Section 10.11 No Recourse Against Others. No director, officer, employee, incorporator or
stockholder of the Company shall have any liability for any obligations of the Company under the Notes, the Indenture or any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder, by accepting a Note, waives
and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 
 [SIGNATURES ON THE
FOLLOWING PAGES] 

  
 26 

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

					
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	 /s/ Perry L. Elders

		 	Name:	 	Perry L. Elders
		 	Title:	 	Senior Vice President and Chief Financial Officer
	
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ Mauri J. Cowen

		 	Name:	 	Mauri J. Cowen
		 	Title:	 	Vice President

 EXHIBIT A 

[FORM OF NOTE] 
 [INCLUDE IF A
GLOBAL NOTE] 
 [THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF
CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL NOTE IS EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A
PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE 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) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS GLOBAL NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON 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 SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1 

 MCDERMOTT INTERNATIONAL, INC. 

7.75% SENIOR AMORTIZING NOTES 

DUE APRIL 1, 2017 
 CUSIP No.: 580037 604

 ISIN No.: US5800376049 
  

			
	No.             	  	[Initial] Number of Notes: [            ]

 McDermott International, Inc., a corporation incorporated under the laws of the Republic of Panama (the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the initial principal sum of $4.1266
for each of the number of Notes set forth [above][in Schedule A hereto], in quarterly installments of $0.3906 per Note (except for the July 1, 2014 installment, which shall be $0.3646 per Note) (each such payment, an “Installment
Payment,” constituting a payment of interest at the rate per year of 7.75% and a partial repayment of principal) payable on each January 1, April 1, July 1, and October 1, commencing on July 1, 2014, (each
such date, an “Installment Payment Date” and the period from, and including, April 7, 2014 to, but excluding, the first Installment Payment Date and each subsequent full quarterly period from and including an Installment
Payment Date to, but excluding, the immediately succeeding Installment Payment Date, an “Installment Payment Period”), all as set forth on the reverse hereof. Notwithstanding the foregoing, the amount of any Installment Payment for
any Installment Payment Period shall be increased by the amount of additional interest, if any, payable for such Installment Payment Period as provided in the Indenture hereinafter referred to. 

The Installment Payment on any Installment Payment Date shall be computed on the basis of a 360-day year consisting of twelve 30-day months.
If an installment is payable for any period shorter or longer than a full Installment Payment Period, such installment shall be computed on the basis of the actual number of days elapsed per 30-day month. In the event that any date on which an
installment is payable is not a Business Day, then payment of the installment on such date will be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such
Business Day is in the next succeeding calendar year, then such Installment Payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date when such Installment Payment was
originally due. 
 Installment Payments shall be paid to the person in whose name the Note is registered, with limited exceptions, at the
Close of Business on the March 15, June 15, September 15 or December 15, as applicable, immediately preceding the relevant Installment Payment Date. Installment Payments shall be payable at the office or agency of the
Company maintained for that purpose in the continental United States; provided, however, that payment of Installment Payments may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the
Security Register or by wire transfer to an account appropriately designated by the Holder entitled to payment. 
 This Note shall not be
entitled to any benefit under the Indenture hereinafter referred to or be valid or obligatory for any purpose until the Certificate of Authentication shall have been signed by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect
as though fully set forth at this place. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-2 

 IN WITNESS WHEREOF, MCDERMOTT INTERNATIONAL, INC. has caused this instrument to be signed
manually or by facsimile by one of its duly authorized Officers. 
 Dated: [    ] 

 

			
	MCDERMOTT INTERNATIONAL, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 A-3 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Date of authentication: 
  

			
	U.S. Bank National Association, as Trustee under the Indenture
		
	By:	 	  

		 	Authorized Signatory

  
 A-4 

 [REVERSE OF NOTE] 

MCDERMOTT INTERNATIONAL, INC. 

This Note is one of a duly authorized series of Securities of the Company designated as its 7.75% Senior Amortized Notes due 2017 (herein
sometimes referred to as the “Notes”), issued under the senior indenture, dated as of April 7, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee,” which term includes any
successor trustee under the Indenture) (the “Base Indenture”) as supplemented by the First Supplemental Indenture, dated as of April 7, 2014, between the Company and the Trustee (the “Supplemental Indenture”
and together with the Base Indenture, the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company
and the Holders. The terms of other series of Securities issued under the Base Indenture may vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the Base Indenture. The
Indenture further provides that securities of a single series may be issued at various times, with different maturity dates and may bear interest at different rates. This series of Securities is limited in aggregate principal amount as specified in
the Supplemental Indenture. 
 Each Installment Payment shall constitute a payment of interest (at a rate of 7.75% per annum) and a
partial repayment of principal on the Note, allocated as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	  	Amount of
Interest	 
	 July 1, 2014
	  	$	0.2900	  	  	$	0.0746	  
	 October 1, 2014
	  	$	0.3163	  	  	$	0.0743	  
	 January 1, 2015
	  	$	0.3224	  	  	$	0.0682	  
	 April 1, 2015
	  	$	0.3286	  	  	$	0.0620	  
	 July 1, 2015
	  	$	0.3350	  	  	$	0.0556	  
	 October 1, 2015
	  	$	0.3415	  	  	$	0.0491	  
	 January 1, 2016
	  	$	0.3481	  	  	$	0.0425	  
	 April 1, 2016
	  	$	0.3549	  	  	$	0.0357	  
	 July 1, 2016
	  	$	0.3617	  	  	$	0.0289	  
	 October 1, 2016
	  	$	0.3687	  	  	$	0.0219	  
	 January 1, 2017
	  	$	0.3759	  	  	$	0.0147	  
	 April 1, 2017
	  	$	0.3835	  	  	$	0.0071	  

 Notwithstanding the foregoing, the amount of any Installment Payment for any Installment Payment Period shall
be increased by the amount of additional interest, if any, payable for such Installment Payment Period as provided in the Indenture. 
 The
Notes shall not be subject to redemption at the option of the Company, except as provided in Section 4.02 of the Supplemental Indenture. However, a Holder shall have the right to require the Company to repurchase some or all of its Notes for
cash at the Repurchase Price per Note, and on the Repurchase Date, upon the occurrence of certain events, and subject to the conditions set forth in the Indenture. 

This Note is not entitled to the benefit of any sinking fund. The Indenture contains provisions for legal defeasance and covenant defeasance
at any time of the indebtedness on this Note upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

If an Event of Default with respect to the Notes shall occur and be continuing, then (unless no declaration of acceleration or notice is
required for such Event of Default) either the Trustee or the Holders of not less than 25% in principal amount of the Notes then outstanding may declare all future, scheduled Installment Payments to be due and payable immediately, in the manner,
subject to the conditions and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein
provided, the Company and the Trustee, with the consent of the holders of not less than a majority in principal amount of the Notes at the time outstanding, to execute supplemental indentures for certain purposes as described therein. 

  
 A-5 

 Obligations Unconditional. No provision of this Note or of the Indenture shall alter or
impair the obligation of the Company, which is absolute and unconditional, to pay Installment Payments and Additional Amounts, if applicable, on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture
prescribed. 
 Additional Terms. The Notes are originally being issued as part of the Company’s 6.25% Tangible Equity Units (the
“Units”) issued pursuant to that certain Purchase Contract Agreement, dated as of April 7, 2014, between the Company, and U.S. Bank National Association, as Purchase Contract Agent and as Trustee of the Indenture (the
“Purchase Contract Agreement”). Holders of the Units have the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts (as defined in the Purchase Contract Agreement) and Separate Notes,
during the times, and under the circumstances described in the Purchase Contract Agreement. Following separation of any Unit into its constituent Separate Purchase Contract and Separate Note, the Separate Notes are transferable independently from
the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for in the Purchase Contract Agreement. Reference is hereby made to the Purchase Contract Agreement for a
more complete description of the terms thereof applicable to the Units and Notes. 
 Transfer and Exchange. As provided in the
Indenture and subject to certain limitations therein set forth, the transfer of this Note shall be registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in
the continental United States, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company duly executed by, the Holder hereof or by his or her attorney duly authorized in writing, and thereupon the
Company shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Note or Notes in authorized denominations and for a like aggregate principal amount. 

The Notes are initially issued in registered, global form without coupons in denominations initially equal to $4.1266 and integral multiples
in excess thereof. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment
of a sum sufficient to cover any transfer tax or other similar governmental charge payable in connection therewith. 
 Prior to due
presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Issuer or the Trustee may treat the Holder in whose name this Note is registered as the absolute owner hereof for all purposes, whether or not this
Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Note and
the Indenture, and any claim, controversy or dispute arising under or related to the Indenture or this Note, shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York (without regard to the conflicts
of law principles thereof that would result in the application of law other than the law of the State of New York). 
 The Company
and the Trustee hereby waive their respective rights to trial by jury in any action or proceeding arising out of or related to the Indenture, the Notes or the transactions contemplated thereby, to the extent permitted by law. 

All terms used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in
the Indenture. 
 No recourse shall be had for the payment of any Installment Payment on this Note, or for any claim based hereon, or upon
any obligation, covenant or agreement of the Company in the Indenture, against any incorporator, stockholder, officer or director, past, present or future of the Company or of any predecessor or successor corporation, either directly or through the
Company or of any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment of penalty or otherwise; and all such personal liability is expressly released and waived as a condition
of, and as part of the consideration for, the issuance of this Note. 

  
 A-6 

 The Company, each Holder and each beneficial owner (for U.S. federal income tax purposes) by its
acquisition of a beneficial interest in the Notes agrees, for U.S. federal income tax purposes, to treat the Notes as indebtedness of the Company. 

A copy of the Indenture is available for inspection at the office of the Trustee. 

In the event of any inconsistency between the provisions of this Note and the provisions of the Indenture, the Indenture shall prevail. 

  
 A-7 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 

(Insert assignee’s social security or tax identification number) 

(Insert address and zip code of assignee) 
 and irrevocably
appoints: 
 as agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

 

							
	Date:	 	  
	 		 	
				
		 		 		 	  

		 		 		 	Signature:
				
		 		 		 	  

		 		 		 	Signature Guarantee

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

  
 A-8 

  SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the 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 Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Exchange Act of 1934, as amended. 
  

					
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	  

	as Trustee

  

			
	By:	 	  

	Name:	 	
	Title:	 	

  

					
	Attest:
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 A-9 

 FORM OF REPURCHASE NOTICE 

TO: McDermott International, Inc. and U.S. Bank National Association, as Trustee 

The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from McDermott International, Inc. (the
“Company”) regarding the right of Holders to elect to require the Company to repurchase the Notes and requests and instructs the Company to repay the entire principal amount of the number of Notes below designated, in accordance
with the terms of the Indenture and the Notes, together with accrued and unpaid interest to, but excluding, the Repurchase Date to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such
terms in the senior indenture, dated as of April 7, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee”) as supplemented by the First Supplemental Indenture, dated as of April 7, 2014,
between the Company and the Trustee (such senior indenture, as so supplemented, the “Indenture”). 
 The Notes shall be
repurchased by the Company as of the Repurchase Date pursuant to the terms and conditions specified in the Notes and the Indenture. 
  

 

							
	Dated:	 	  
	 		 	
				
		 		 		 	  

		 		 		 	Signature:
				
		 		 		 	  

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the face of the
Notes in every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable):
                     
 Number of Notes to be
repurchased (if less than all, must be one Note or integral multiples in excess thereof):                      

Social Security or Other Taxpayer Identification Number:
                     

  
 A-10 

 SCHEDULE A 

[INCLUDE IF A GLOBAL NOTE] 

SCHEDULE OF INCREASES OR DECREASES IN THE NOTE 

The initial number of Notes evidenced by this certificate is [    ]. The following increases or decreases in this Note
have been made: 
  

									
	 Date
	  	Amount of
decrease in number
of Notes evidenced
hereby	  	Amount of increase
in number of Notes
evidenced hereby	  	Number of Notes
evidenced hereby
following such
decrease (or
increase)	  	Signature of
authorized officer
of Trustee
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-11

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