Document:

Document

Exhibit 10.23
PALO ALTO NETWORKS, INC.
DEFERRED COMPENSATION PLAN
Effective Date
June 1, 2022
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TABLE OF CONTENTS
Page
						
	Article 1    Establishment and Purpose
	1

	Article 2    Definitions
	1

	Article 3    Eligibility and Participation
	6

	Article 4    Deferrals
	6

	Article 5    Company Contributions
	11

	Article 6    Payments from Accounts
	11

	Article 7    Valuation of Account Balances; Investments
	14

	Article 8     Administration
	15

	Article 9    Amendment and Termination
	17

	Article 10    Informal Funding
	17

	Article 11    Claims
	18

	Article 12    General Provisions
	22

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Article 1Establishment and Purpose
Palo Alto Networks, Inc., a Delaware corporation  (the “Company”), has adopted this Palo Alto Networks, Inc. Deferred Compensation Plan, effective June 1, 2022 (the “Effective Date”), for deferrals of Compensation earned after June 22, 2022.
The purpose of the Plan is to attract and retain key employees by providing them with an opportunity to defer receipt of a portion of their salary, annual bonus, restricted stock units, performance stock units, and other specified compensation.  The Plan is not intended to meet the qualification requirements of Code Section 401(a) but is intended to meet the requirements of Code Section 409A and shall be operated and interpreted consistent with that intent.
The Plan constitutes an unsecured promise by the Company to pay benefits in the future.  Each Participant in the Plan shall have the status of a general unsecured creditor of the Company.  The Company shall be solely responsible for payment of the benefits under the Plan.  The Plan is unfunded for federal tax purposes and is intended to be an unfunded arrangement for eligible employees who are part of a select group of management or highly compensated employees of the Company (within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA).  Any amounts set aside to defray the liabilities assumed by the Company will remain the general assets of the Company and shall remain subject to the claims of the Company’s creditors until such amounts are distributed to the Participants.
Article 2Definitions
2.1“Account” means a bookkeeping account maintained by the Committee to record the payment obligation of the Company to a Participant under the terms of the Plan.  The Committee may maintain an Account to record the total obligation to a Participant and component Accounts to reflect amounts payable at different times and in different forms.  Reference to an Account means any such Account established by the Committee, as the context requires.  Accounts are intended to constitute “unfunded” obligations (within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of ERISA).
2.2“Account Balance” means, with respect to any Account, the total payment obligation owed to a Participant from such Account, determined as of the close of trading on the Exchange as of the most recent Business Day.
2.3“Affiliate” means a corporation, trade, or business that, together with the Company, is treated as a single employer under Code Section 414(b) or (c).
2.4“Beneficiary” means a natural person, estate, or trust designated by a Participant in accordance with Section 6.4 to receive payments to which a Beneficiary is entitled in accordance with the provisions of the Plan.
2.5“Board” means the Board of Directors of the Company.
2.6“Business Day” means each day on which the Exchange is open for business.
2.7“Change in Control” means any of the following events, determined in accordance with Code Section 409A:
(a)Change in Ownership.  A change in the ownership of the Company occurs on the date on which any one person, or more than one person acting as a group, acquires ownership of stock of the Company that, together with stock held by such person or group constitutes more than 50% of the total fair market value or total voting 
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power of the stock of the Company.  The acquisition by a person or group owning more than 50% of the total fair market value or total voting power of the stock of the Company of additional shares of the Company shall not constitute a “change of the ownership” of the Company.
(b)Change in Effective Control.  A change in the effective control of the Company occurs on the date on which either: (i) a person, or more than one person acting as a group, acquires ownership of stock of the Company possessing 30% or more of the total voting power of the stock of the Company, taking into account all such stock acquired during the 12-month period ending on the date of the most recent acquisition, provided that the acquisition by a person or group owning more than 30% of the total fair market value or total voting power of the stock of the Company of additional shares of the Company shall not constitute a “change of effective control” of the Company; or (ii) a majority of the members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election.
(c)Change in Ownership of Substantial Portion of Assets.  A change in the ownership of a substantial portion of assets occurs on the date on which any one person, or more than one person acting as a group, other than a person or group of persons that is related to the Company, acquires assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions, taking into account all such assets acquired during the 12-month period ending on the date of the most recent acquisition.  A transfer of assets shall not be treated as a “change in the ownership of a substantial portion of the assets” when such transfer is made to an entity that is controlled by the shareholders of the transferor corporation as determined under Treas. Reg. Section 1.409A-3(i)(5)(vii)(B).
2.8“Claimant” means a Participant or Beneficiary filing a claim under Article 11 of this Plan.
2.9“Code” means the Internal Revenue Code of 1986, as amended.
2.10“Code Section 409A” means Section 409A of the Code and regulations and other guidance issued by the Treasury Department and Internal Revenue Service thereunder.
2.11“Committee” means the Company’s Compensation and People Committee or any other committee appointed by the Board or Compensation and People Committee to administer the Plan.
2.12“Company Contribution” means a credit by the Company to a Participant’s Account in accordance with the provisions of Article 5.  Unless the context clearly indicates otherwise, a reference to Company Contribution includes Earnings attributable to such contribution.
2.13“Compensation” means a Participant’s (a) salary, annual bonus, commission, and other cash compensation approved by the Committee as Compensation that may be deferred under Section 4.2 and (b) grants of Equity Awards.  Compensation excludes compensation that has been previously deferred under this Plan or any other arrangement subject to Code Section 409A and cash compensation that is not paid through U.S. payroll.
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2.14“Compensation Deferral Agreement” means an agreement between a Participant and the Company and, if applicable, the Participant’s Employer that specifies (a) the amount of each component of Compensation that the Participant has elected to defer under the Plan in accordance with the provisions of Article 4, (b) the Payment Schedule applicable to such Deferral, and (c) the Investment Allocation applicable to such Deferral.
2.15“Deferral” means a credit to a Participant’s Account that records the portion of the Participant’s Compensation that the Participant has elected to defer under the Plan in accordance with the provisions of Article 4.  Unless the context of the Plan clearly indicates otherwise, a reference to Deferrals includes Earnings attributable to such Deferrals.
2.16“Earnings” means an adjustment to the value of an Account (including as a result of gains or losses) in accordance with Article 7.
2.17“Eligible Employee” means an Employee who is actively employed in the U.S. and on the U.S. payroll of such Employee’s Employer and is a member of a select group of management or highly compensated employees who has been designated as an “Eligible Employee” for an applicable enrollment and meets any additional criteria established from time to time by the Committee in its sole discretion.  An Employee shall become an Eligible Employee as of the first enrollment period after the date on which such Employee satisfies all of the foregoing conditions.  An Employee whose status changes into such an eligible position shall become an Eligible Employee as of the first enrollment period following the date such Employee’s employment in such position commences so long as such Employee remains an Eligible Employee as of such enrollment period.  The Committee reserves the right to exclude an otherwise Eligible Employee from participation in the Plan as it deems advisable in its sole and absolute discretion.
2.18“Employee” means a common-law employee of the Company or any Affiliate.
2.19“Employer” means the Company or its Affiliate that is the applicable Employee’s common-law employer.
2.20“Equity Award” means an award of restricted stock units (“RSUs”) or performance stock units (“PSUs”) granted by the Company under its Equity Plan, (and, for the avoidance of doubt, does not include any awards of stock options or stock appreciation rights); provided that the Committee may in its sole discretion exclude any RSUs or PSUs from Deferrals under the Plan.
2.21“Equity Plan” means the Palo Alto Networks, Inc. 2021 Equity Incentive Plan or any successor, predecessor, or other equity plan under which the Company grants, or has granted, Equity Awards, but for the avoidance of doubt excluding equity awards assumed by the Company in a merger or other acquisition.
2.22“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
2.23“Exchange” means the securities exchange on which the Shares are then currently trading. As of the Effective Date, the Exchange refers to the Nasdaq Stock Market.

2.24“Initial Payment Date” means the first scheduled Payment Date with respect to an Account.
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2.25“Payment Date” means the date on which Shares are actually issued or cash paid with respect to any Deferral.
2.26“Payment Schedule” means a designation of the date or period on or in which payment of an Account will commence and the form in which payment of such Account will be made.
2.27“Performance-Based Compensation” means Compensation that is contingent in whole or in part on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months.  Organizational or individual performance criteria are considered pre-established if approved by the Committee by not later than 90 days after the commencement of the period of service to which the criteria relate, provided that the outcome is substantially uncertain at the time the criteria are established.  Compensation may nevertheless be Performance-Based Compensation if the Compensation will be paid without regard to performance in the event of the Participant’s death or “disability” (as defined in Treas. Reg. Section 1.409A-1(e)(1)) or a Change in Control, provided that any payment made under such circumstances without regard to performance will not itself qualify as Performance-Based Compensation.
2.28“Plan” means this Palo Alto Networks, Inc. Deferred Compensation Plan, as may be amended from time to time.  However, to the extent permitted or required under Code Section 409A, the term “Plan” may in the appropriate context also mean a portion of the Plan that is treated as a single plan under Treas. Reg. Section 1.409A-1(c), or the Plan or portion of the Plan and any other nonqualified deferred compensation plan or portion thereof that is treated as a single plan under such Section.
2.29“Plan Year” means January 1 through December 31.
2.30“Separation Account” means an Account established by the Committee in accordance with a Participant’s Compensation Deferral Agreement to record Deferrals allocated to such Account by the Participant and that are payable upon the Participant’s Separation from Service in accordance with Section 6.3.
2.31“Separation from Service” means an Employee’s termination of employment with the Company and all Affiliates.
Except in the case of an Employee on a bona fide leave of absence as provided below, an Employee is deemed to have incurred a Separation from Service if the Employer and the Employee reasonably anticipated that the level of services to be performed by the Employee after a date certain would be reduced to 20% or less of the average services rendered by the Employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding periods during which the Employee was on a bona fide leave of absence.
An Employee who is absent from work due to military leave, sick leave, or other bona fide leave of absence incurs a Separation from Service on the first date immediately following the later of (a) the six-month anniversary of the commencement of the leave and (b) the expiration of the Employee’s right, if any, to reemployment under statute or contract.
If a Participant ceases to provide services as an Employee and begins providing services as an independent contractor (other than as a non-employee director) for the Company or any of its Affiliates, a Separation from Service will then occur only if the Employer and 
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the Employee reasonably anticipate, as of the time of the change, that the level of services to be provided as an independent contractor are such that a Separation from Service (as described above) would have occurred if the Employee had continued to provide services at that level as an Employee.  If no Separation from Service pursuant to the preceding sentence occurs as of the date an Employee becomes such an independent contractor, then a Separation from Service shall occur only upon the 12-month anniversary of the date on which all service contracts between the Employee and the Employer have expired, provided the Participant does not perform services for the Employer during that 12-month period.
For purposes of determining whether a Separation from Service has occurred, the Employer means the Employer, as defined in Section 2.19, except that in applying Code Sections 1563(a)(1), (2), and (3) for purposes of determining whether another organization is an Affiliate under Code Section 414(b), and in applying Treasury Regulation Section 1.414(c)-2 for purposes of determining whether another organization is an Affiliate under Code Section 414(c), “at least 50 percent” shall be used instead of “at least 80 percent” in each place it appears in those Code Sections.
The Committee specifically reserves the right to determine whether a sale or other disposition of substantial assets to an unrelated party constitutes a Separation from Service with respect to a Participant providing services to the seller immediately prior to the transaction and providing services to the buyer after the transaction.
2.32“Share” means a share of the Company’s common stock.
2.33“Specified Date Account” means an Account established by the Committee to record the amounts payable in a future year, as specified in the Participant’s Compensation Deferral Agreement.  Unless the Committee specifies otherwise during an applicable enrollment, a Participant may maintain no more than five Specified Date Accounts at any one time (other than certain Specified Date Accounts for Deferrals of Equity Awards described in Section 4.2(e)).
Article 3Eligibility and Participation
3.1Eligibility and Participation.  All Eligible Employees may enroll in the Plan during the enrollment periods established by the Committee.  Eligible Employees become “Participants” on the first to occur of (a) the date on which the first Compensation Deferral Agreement becomes irrevocable under Article 4 and (b) the date Company Contributions are credited to an Account on behalf of such Eligible Employee.
3.2Duration.  Only Eligible Employees may submit Compensation Deferral Agreements during an enrollment period and receive Company Contributions during the Plan Year.  A Participant who is no longer an Eligible Employee but has not incurred a Separation from Service will not be allowed to submit Compensation Deferral Agreements but may otherwise exercise all of the rights of a Participant under the Plan with respect to such Participant’s existing Accounts.  On and after a Separation from Service, a Participant shall remain a Participant as long as such Participant has any Account Balance that is greater than zero.  All Participants, regardless of employment status, will continue to be credited with Earnings and during such time may continue to make allocation elections as provided in Section 7.4.  A Participant shall cease being a Participant in the Plan when all of such Participant’s Accounts have been reduced to zero.
3.3Rehires.  An Eligible Employee who Separates from Service and who subsequently resumes performing services for an Employer in the same calendar year (regardless of 
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eligibility) will have such Eligible Employee’s Compensation Deferral Agreements for such year, if any, cancelled at the time of such Separation from Service, and such Eligible Employee’s eligibility to submit Compensation Deferral Agreements shall be governed by the provisions of Article 4.
Article 4Deferrals
4.1Deferral Elections, Generally.
(a)An Eligible Employee may make an initial election to defer Compensation by submitting a Compensation Deferral Agreement during any enrollment period established by the Committee and in the manner specified by the Committee, but in any event, in accordance with Section 4.2.  If an Eligible Employee ceases to be an Eligible Employee during any such enrollment period, then such former Eligible Employee shall not be eligible to submit a Compensation Deferral Agreement with respect to such enrollment period.  Unless an earlier date is specified in the enrollment materials or Compensation Deferral Agreement, deferral elections with respect to a Compensation source (such as salary, annual bonus, Equity Awards, or other Compensation) become irrevocable on the latest date applicable to such Compensation source under Section 4.2.
(b)A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation, or that is submitted by a Participant who Separates from Service prior to the latest date such agreement would become irrevocable under Code Section 409A, shall be considered null and void and shall not take effect with respect to such service period or component of Compensation.  The Committee may modify or revoke any Compensation Deferral Agreement prior to the date on which such Compensation Deferral Agreement becomes irrevocable under the rules of Section 4.2.  If an Eligible Employee ceases to be an Eligible Employee prior to the date on which a Compensation Deferral Agreement becomes irrevocable under the rules of Section 4.2, then such Compensation Deferral Agreement shall be considered null and void and shall not take effect.
(c)The Committee may permit different deferral amounts for each component of Compensation and may establish a minimum or maximum deferral amount for each such component.  Unless otherwise specified by the Committee in the enrollment materials or Compensation Deferral Agreement, Participants may defer (i) a minimum of 5% and a maximum of 50% of the annual base salary earned in any Plan Year, (ii) a minimum of 5% and a maximum of 100% of annual cash bonuses and commissions earned in any Plan Year, and (iii) a minimum of 5% and a maximum of 100% of any Equity Award or, to the extent the Participant is permitted to defer the unvested tranche(s) of an Equity Award, the applicable unvested tranche(s).
(d)Deferrals of cash Compensation shall be calculated with respect to the gross cash Compensation payable to the Participant prior to any deductions or withholdings (including any withholdings under Section 8.4).  Deferrals of an Equity Award or the applicable vesting tranche(s) of an Equity Award shall be calculated as a percentage of the Equity Award or vesting tranche, as specified in the enrollment materials, with deferrals of any fractional stock units rounded down to the nearest whole stock unit. To the extent permissible under Code Section 409A, the Committee may in its discretion reduce deferrals of Participants so as to not 
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exceed 100% of the cash Compensation of such Participant (after taking into account all of the Participant’s other deductions and withholdings).
(e)The Eligible Employee shall specify in a Compensation Deferral Agreement the amount of Deferrals,  whether to allocate Deferrals to a Separation Account or to a Specified Date Account, and the Investment Alternative(s) that will be applicable to such Deferral.  Deferrals of the vesting tranche(s) of an Equity Award pursuant to Section 4.2(e) may be allocated only to a Specified Date Account, based on the vesting dates applicable to each deferred Equity Award.  Except for Equity Awards deferred pursuant to Section 4.2(e), if no designation is made, Deferrals shall be allocated to a Separation Account.
4.2Timing Requirements for Compensation Deferral Agreements.
(a)Initial Eligibility.  If an Employee becomes an Eligible Employee during the middle of a Plan Year, such Eligible Employee may elect to defer such Eligible Employee’s (i) base salary and annual cash incentive compensation earned in such Plan Year after the date of such election and/or (ii) Equity Awards previously granted to such Eligible Employee, if and to the extent permitted in accordance with procedures established by the Committee.  The Compensation Deferral Agreement must be filed within 30 days after such Employee first becomes an Eligible Employee and shall become irrevocable not later than such 30th day (the “Initial Eligibility Period End Date”).  A Compensation Deferral Agreement filed under this paragraph applies only to Compensation earned after the date that the Compensation Deferral Agreement becomes irrevocable, and for such purpose any annual cash incentive compensation or Equity Award deferred pursuant to this Section 4.2(a) shall be prorated to reflect the portion of such compensation earned after such date.  Elections to defer Compensation made pursuant to Compensation Deferral Agreements submitted after the Initial Eligibility Period End Date shall be governed by the other rules in this Section 4.2.
(b)Prior-Year Elections.  
(i)General.  Unless a more specific rule in this Section 4.2 applies, the Committee may permit an Eligible Employee to defer Compensation by filing a Compensation Deferral Agreement no later than December 31 of the year prior to the year in which the Compensation to be deferred is earned.  A Compensation Deferral Agreement filed under this paragraph shall become irrevocable with respect to such Compensation not later than the December 31 filing deadline (or any earlier date specified in the enrollment materials).  
(ii)Types of Compensation Deferred.  As of the Effective Date (but subject to change thereafter), this Section 4.2(b) would apply to elections to defer Compensation constituting annual base salary and commissions.
(c)Performance-Based Compensation.  
(i)General.  The Committee may permit an Eligible Employee to defer Compensation that qualifies as Performance-Based Compensation by filing a Compensation Deferral Agreement no later than the date that is six months before the end of the applicable performance period, provided that:
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A.the Eligible Employee remains an Eligible Employee continuously from the later of the beginning of the performance period and the date the performance criteria are established through the date the Compensation Deferral Agreement is submitted; and
B.the Compensation is not readily ascertainable as of the date the Compensation Deferral Agreement is filed.
Any election to defer Performance-Based Compensation that is made in accordance with this paragraph and that becomes payable as a result of the Participant’s death or upon a “change in control” (as defined in Treas. Reg. Section 1.409A-3(i)(5)) prior to the satisfaction of the performance criteria will be void unless it would be considered timely under another rule described in this Section 4.2.
(ii)Types of Compensation Deferred.  As of the Effective Date (but subject to change thereafter), this Section 4.2(c) would apply to elections to defer Compensation constituting annual cash incentives, certain PSUs that are outstanding as of the date of such election, and PSUs that are granted after the date of such election.
(d)Certain Forfeitable Rights.
(i)General.  With respect to a legally binding right to Compensation in a subsequent year that is subject to a forfeiture condition requiring the Participant’s continued services for a period of at least 12 months from the date the Participant obtains the legally binding right, the Committee may permit an Eligible Employee to defer such Compensation by filing a Compensation Deferral Agreement on or before the 30th day after the legally binding right to the Compensation accrues, provided that the Compensation Deferral Agreement is submitted at least 12 months in advance of the earliest date on which the forfeiture condition could lapse, other than due to the Participant’s death or “disability” (as defined in Treas. Reg. Section 1.409A-3(i)(4)) or in connection with a Change in Control.  The Compensation Deferral Agreement described in this paragraph becomes irrevocable not later than such 30th day.  If the forfeiture condition applicable to the payment lapses before the end of such 12-month period as a result of the Participant’s death or such disability or in connection with a Change in Control, the Compensation Deferral Agreement will be void unless it would be considered timely under another rule described in this Section 4.2.
(ii)Types of Compensation Deferred.  As of the Effective Date (but subject to change thereafter), this Section 4.2(d) would apply to elections to defer the portion of grants of RSUs that vest no earlier than the 12-month anniversary of the later of (A) the grant date and (B) the last day of the applicable enrollment period and in each case do not provide for accelerated vesting (other than upon a termination due to death or such disability or in connection with a Change in Control).
(e)Short-Term Deferrals.
(i)General.  The Committee may permit Compensation that meets the definition of a “short-term deferral” described in Treas. Reg. Section 
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1.409A-1(b)(4) to be deferred pursuant to an election made at least 12 months prior to the date on which such Compensation is scheduled to become vested in accordance with such Compensation’s ordinary vesting schedule (i.e., without accounting for accelerated vesting provisions), provided that the Initial Payment Date for such Deferral is not earlier than the first day of the Plan Year following the fifth anniversary of the date on which such Compensation is scheduled to become vested in accordance with such ordinary vesting schedule (regardless of when vesting actually occurs).  If the Compensation deferred pursuant to this Section 4.2(e) vests on multiple dates, the Initial Payment Date may not be earlier than the fifth anniversary of the latest of such vesting dates.  A Compensation Deferral Agreement submitted in accordance with this paragraph becomes irrevocable as of the end of the applicable enrollment period.  If the forfeiture condition applicable to the payment lapses before the 12-month anniversary of the last date of the applicable enrollment period, the Compensation Deferral Agreement will be void unless it would be considered timely under another rule described in this Section 4.2.
(ii)Types of Compensation Deferred.  This Section 4.2(e) would apply to elections to defer vesting tranches of RSUs or PSUs that cannot be deferred pursuant to Section 4.2(c) or 4.2(d) but are scheduled to vest at least 12 months after the last day of the applicable enrollment period, which as of the Effective Date (but subject to change thereafter) includes certain vesting tranches with respect to certain RSUs and PSUs that were granted more than 30 days prior to the date of such election; provided that in each case such Deferral election shall apply only to the portion of such award that is scheduled to vest at least 12 months after the last day of the applicable enrollment period.
(f)“Evergreen” Deferral Elections. The Committee may, in its discretion, provide that Compensation Deferral Agreements will continue in effect for subsequent years or performance periods by communicating that intention to Participants in writing prior to the date Compensation Deferral Agreements become irrevocable under this Section 4.2.  An evergreen Compensation Deferral Agreement may be revoked or modified in writing prospectively by the Participant or the Committee with respect to Compensation for which such election remains revocable under this Section 4.2.  A Compensation Deferral Agreement is deemed to be revoked for subsequent years if the Participant is not an Eligible Employee as of the last permissible date for making elections under this Section 4.2 or if the Compensation Deferral Agreement is canceled in accordance with Section 4.6.
4.3Allocation of Deferrals.  A Compensation Deferral Agreement may allocate a Deferral to a Separation Account or to a Specified Date Account.  If a Participant’s Compensation Deferral Agreement allocates a component of Compensation to a Specified Date Account that commences payment in the year such Compensation is earned or otherwise before any minimum deferral period established by the Committee or required by law for such Specified Date Account, the Compensation Deferral Agreement shall be deemed to allocate the Deferral to the Participant’s Specified Date Account having the next earliest payment year (including, if applicable, taking into consideration any minimum deferral period established by the Committee or required by law for a Specified Date Account).  If the Participant has no other available Specified Date Accounts after the application of the preceding sentence, then the Committee will allocate the Deferral to the Participant’s Separation Account.
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4.4Deductions from Pay.  The Committee has the authority to determine the payroll practices under which any component of Compensation subject to a Compensation Deferral Agreement will be deducted from a Participant’s Compensation.
4.5Vesting.  Participant Deferrals of cash Compensation shall be 100% vested at all times after they are credited to the Participant’s applicable Account.  Deferrals of Equity Awards (or a portion thereof) shall take effect upon the satisfaction of the vesting conditions of the underlying Equity Award (or portion thereof) and shall thereafter be fully vested to the extent such vesting conditions are satisfied.
4.6Cancelation of Deferrals.  The Committee may cancel a Participant’s Deferrals during periods of “disability” (as defined in Treas. Reg. Section 1.409A-3(j)(xii)), provided that cancelation occurs by the later of (a) the end of the taxable year of the Participant and (b) the 15th day of the 3rd month following the date the Participant incurs such disability.
Article 5Company Contributions
5.1Discretionary Company Contributions.  The Company may, in its sole and absolute discretion, credit discretionary Company Contributions in the form of matching, profit sharing, or other contributions to any Participant in any amount determined by the Company.  Company Contributions shall be credited to the Participant’s Account specified by the Committee.  Discretionary Company Contributions are credited at the sole discretion of the Company, and the fact that a discretionary Company Contribution is credited in one year shall not obligate the Company to continue to make such Company Contributions in subsequent years.
5.2Vesting.  Company Contributions vest according to the schedule specified by the Committee on or before the time the contributions are made.  The Company may elect to accelerate vesting of Company Contributions for any Participant, at any time, in its sole discretion.
Article 6Payments from Accounts
6.1General Rules.  Each Account will become payable in accordance with Sections 6.2 (if elected) through 6.8.
Payment Schedules elected by a Participant shall be set forth in a valid Compensation Deferral Agreement that designates the Account to which such elections apply in accordance with Article 4 or in a valid modification election applicable to such Account as described in Section 6.8.
All Accounts shall be paid in Shares, issued under the Equity Plan, provided that an Account shall be paid in cash to the extent there are insufficient Shares available under the Equity Plan to make such payment in Shares.  A Participant’s right to receive Shares in accordance with the terms of the Plan shall be considered a grant of a stock unit award under the Equity Plan in connection with the Participant’s employment with the Company.  To the extent that an Account is paid in Shares, the amount payable with respect to any Payment Date shall be determined by dividing the dollar value of the amount to be paid by the closing trading price of a Share on the Exchange as of the last day (or if such date is not a Business Day, the immediately preceding Business Day) of the month preceding the month in which such Payment Date occurs.  No Deferrals will be paid in fractional Shares, and any Deferrals that cannot be paid in full Shares will instead be paid in cash.
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6.2Specified Date Accounts.
(a)Commencement.  A Participant may elect to credit any Deferral to a Specified Date Account, the payment of which shall be made or begin in the calendar year designated by the Participant for such Account on a Payment Date determined by the Committee.  Except for Deferrals of Equity Awards pursuant to Section 4.2(e), the Initial Payment Date of a Specified Date Account may not be less than 2 years or more than 15 years after the Plan Year in which the deferral election is made.  The Initial Payment Date for Equity Awards deferred under the provisions of Section 4.2(e) will be no earlier than the 5th anniversary and no later than the 15th anniversary of the date on which such Equity Award is scheduled to become vested under the terms of the award (disregarding any accelerated vesting conditions under the terms of such award).  A separate Specified Date Account will be established to record the amounts deferred and the year in which the Initial Payment Date occurs with respect to amounts deferred under Section 4.2(e), and such Accounts will not count toward the maximum number of Specified Date Accounts that a Participant may maintain under the terms of this Plan.
(b)Form of Payment.  Payments from any Specified Date Account will be made in a single distribution, unless the Participant elects in the relevant Compensation Deferral Agreement to receive such payments in a designated number of substantially equal annual installments payable over a period of up to 10 years.
6.3Separation from Service.
(a)General.  A Participant may elect to credit any Deferral, other than a Deferral pursuant to Section 4.2(e), to a Separation Account, the payment of which shall be made or begin following the Participant’s Separation from Service.
(b)Commencement.  The Initial Payment Date for each Separation Account will be determined by the Committee and will occur in the calendar year after the calendar year in which Separation from Service occurs, provided that such Initial Payment Date must be no earlier than six months following the applicable Participant’s Separation from Service.
(c)Form of Payment.  Payments from any Separation Account will be made in a single distribution, unless the Participant elects in the relevant Compensation Deferral Agreement to receive such payments in a designated number of substantially equal annual installments payable over a period of up to 10 years.
6.4Death.  Notwithstanding anything to the contrary in this Article 6, upon the death of the Participant (regardless of whether such Participant is an Employee at the time of death), all remaining vested Account Balances shall be paid to such Participant’s Beneficiary in a single distribution no later than December 31 of the calendar year following the year of the Participant’s death.
(a)Designation of Beneficiary in General.  The Participant shall designate a Beneficiary in the manner and on terms and conditions as the Committee may prescribe.  No such designation shall become effective unless filed with the Committee during the Participant’s lifetime.  Any designation shall remain in effect until a new designation is filed with the Committee, except that if a Participant designates such Participant’s spouse as a Beneficiary, then such designation shall be automatically revoked upon the dissolution of the marriage unless, following such dissolution, the Participant submits a new designation 
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naming the former spouse as a Beneficiary.  A Participant may change such Participant’s designated Beneficiary without the consent of a previously designated Beneficiary by filing a new designation with the Committee.
(b)No Beneficiary.  If a designated Beneficiary does not survive the Participant, or if there is no valid Beneficiary designation, amounts payable under the Plan upon the death of the Participant shall be paid to the Participant’s spouse, or if there is no surviving spouse, then to the duly appointed and currently acting personal representative of the Participant’s estate.
6.5Administrative Cash-Out of Small Balances.  Notwithstanding anything to the contrary in this Article 6, the Committee may at any time and without regard to whether a payment event has occurred, direct in writing an immediate single distribution of all of the Participant’s Accounts if the Account Balance of such Accounts, combined with any other amounts required to be treated as deferred under a single plan pursuant to Code Section 409A, does not exceed the applicable dollar amount under Code Section 402(g)(1)(B), provided any other such aggregated amounts are also distributed in a single distribution at the same time.
6.6Acceleration of or Delay in Payments.  Notwithstanding anything to the contrary in this Article 6, the Committee, in its sole and absolute discretion, may elect to accelerate the time or form of payment of an Account, provided such acceleration is permitted under Treas. Reg. Section 1.409A-3(j)(4).  The Committee may also, in its sole and absolute discretion, delay the time for payment of an Account, to the extent permitted under Treas. Reg. Section 1.409A-2(b)(7).
6.7Rules Applicable to Installment Payments.  If a Payment Schedule specifies installment payments, payment will be made beginning as soon as administratively practicable after the Initial Payment Date for such installments and shall continue to be made in each subsequent payment period until the number of installment payments specified in the Payment Schedule has been paid.  The amount of each installment payment shall be determined by dividing (a) the Account Balance as of the last Business Day in the month preceding the month of payment, by (b) the remaining number of installment payments.  For purposes of Section 6.8, installment payments will be treated as a single payment.  If an Account is payable in installments, the Account will continue to be credited with Earnings in accordance with Article 7 until the Account is completely distributed.
6.8Modifications to Payment Schedules.  A Participant may modify the Payment Schedule elected by such Participant with respect to an Account, consistent with the permissible Payment Schedules available under Sections 6.2 and 6.3, as applicable, provided such modification complies with the requirements of this Section 6.8.
(a)Time of Election.  The modification election must be submitted to the Committee not less than 12 months prior to the Initial Payment Date under the Payment Schedule in effect prior to modification (the “Prior Election”).
(b)Date of Payment under Modified Payment Schedule.  The Initial Payment Date under the modified Payment Schedule must be no earlier than five years after the Initial Payment Date under the Prior Election.  Under no circumstances may a modification election result in an acceleration of payments in violation of Code Section 409A.  If the Participant modifies only the form of payments and not the Initial Payment Date, payments shall commence not earlier than the fifth anniversary of the Initial Payment Date under the Prior Election.
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(c)Irrevocability; Effective Date.  A modification election is irrevocable when filed and becomes effective 12 months after the filing date.
(d)Effect on Accounts.  An election to modify a Payment Schedule is specific to the Account or payment event to which it applies and shall not be construed to affect the Payment Schedules of any other Accounts or payment events.
Article 7Valuation of Account Balances; Investments
7.1Valuation.  Deferrals shall be credited to appropriate Accounts on the date that deferred Compensation would have been paid to the Participant absent the Compensation Deferral Agreement.  Valuation of Accounts shall be performed under procedures approved by the Committee.
7.2Earnings Credit.  Each Account will be credited with Earnings on each Business Day (unless another period is specified by the Committee with respect to a particular investment option), based upon the Participant’s investment allocation, with respect to each Deferral, among a menu of investment options selected in advance by the Committee, in accordance with the provisions of this Article 7 (“Investment Allocation”).
7.3Investment Options.  Investment options will be determined by the Committee.  The Committee, in its sole discretion, shall be permitted to add or remove investment options from the Plan menu at any time to be effective on a prospective basis.  The Investment options may include, without limitation, notional Shares, notional mutual fund shares, and notional alternative investments measured by reference to Shares.
7.4Investment Allocations.  An Investment Allocation constitutes a deemed, not actual, investment among the investment options comprising the investment menu.  At no time shall a Participant have any real or beneficial ownership in any investment option included in the investment menu, nor shall the Company or any trustee acting on its behalf have any obligation to purchase actual securities as a result of an Investment Allocation.  An Investment Allocation shall be used solely for purposes of adjusting the value of a Participant’s Account Balances.
A Participant shall specify an Investment Allocation for each Deferral in accordance with procedures established by the Committee.  Allocation among the investment options must be designated in increments of 1%.  A Participant may change an Investment Allocation in accordance with procedures adopted by the Committee.
7.5Unallocated Deferrals.  If the Participant fails to make an Investment Allocation with respect to a Deferral of an Equity Award, such Deferral shall be invested in notional Shares.  If a Participant fails to make an Investment Allocation with respect to a Deferral of any other Compensation, such Deferral shall be invested in a notional mutual fund specified by the Committee.
7.6Adjustments.  In the event that any extraordinary dividend or other extraordinary distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs (other than any ordinary dividends or other ordinary distributions), the Committee, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust 
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the number of notional Shares and notional alternative investments measured by reference to Shares with respect to all Account Balances under the Plan.
Article 8Administration
8.1Plan Administration.  This Plan shall be administered by the Committee, which shall have discretionary authority to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of this Plan and to utilize its discretion to decide or resolve any and all questions in connection with the Plan, including eligibility for benefits and interpretations of this Plan and its terms.  Claims for benefits shall be filed with the Committee and resolved in accordance with the claims procedures in Article 11.
8.2Administration Upon Change in Control.  Upon a Change in Control, the Committee, as constituted immediately prior to such Change in Control, shall continue to act as the Committee.  The Committee, by a vote of a majority of its members, shall have the authority (but shall not be obligated) to appoint an independent third party to act as the Committee.
Upon such Change in Control, the Company may not remove the Committee or its members, unless a majority of Participants and Beneficiaries with Account Balances consent to the removal and replacement of the Committee.
The Company shall: (a) pay all reasonable expenses and fees of the Committee; (b) indemnify the Committee (including individuals serving as Committee members) against any costs, expenses and liabilities, including attorneys’ fees and expenses arising in connection with the performance of the Committee’s duties hereunder, except with respect to matters resulting from the Committee’s gross negligence or willful misconduct; and (c) supply full and timely information to the Committee on all matters related to the Plan, any rabbi trust, Participants, Beneficiaries and Accounts as the Committee may reasonably require.
8.3Delegation of Authority.  In the administration of this Plan, the Committee may employ agents and delegate to them any administrative duties that the Committee sees fit and may consult with legal counsel and other advisors.
8.4Withholding.  The Company and each Employer shall have the right to withhold from any payment due under the Plan (or with respect to any amounts credited to the Plan) any taxes required by law to be withheld in respect of such payment (or credit).  Such withholdings may be made in accordance with any applicable procedures established by the Committee, including by (a) requiring the Participant to pay cash, check, or other cash equivalents, (b) having the Company withhold otherwise deliverable Shares having a fair market value equal to the minimum statutory amount applicable in the Participant’s jurisdiction or such greater amount as the Committee may determine (including up to a maximum statutory amount) if such amount would not have adverse accounting consequences, as the Committee determines in its sole discretion, (c) requiring the Participant to deliver to the Company already-owned Shares having a fair market value equal to the minimum statutory amount applicable in the Participant’s jurisdiction or such greater amount as the Committee may determine (including up to a maximum statutory amount), in each case, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Committee determines in its sole discretion, (d) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Committee may determine in its sole discretion (whether through a broker or otherwise) to cover the amount of the withholding obligation, (e) having the Company or an Employer withhold from wages or any other cash amount due or to become due to the 
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Participant and payable by the Company or any Employer, (f) any other method of withholding determined by the Committee, or (g) any combination of the foregoing methods of payment.  Withholdings with respect to amounts credited to the Plan shall be deducted from Compensation that has not been deferred to the Plan.
8.5Indemnification.  The Company shall indemnify and hold harmless each employee, officer, director, agent, and organization to whom or to which are delegated duties, responsibilities, and authority under the Plan or otherwise with respect to administration of the Plan, including the Committee and its delegees and its agents, against all claims, liabilities, fines, and penalties, and all expenses reasonably incurred by or imposed upon them (including reasonable attorneys’ fees) that arise as a result of their actions or failure to act in connection with the operation and administration of the Plan, to the extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by the Company.  Notwithstanding the foregoing, the Company shall not indemnify any person or organization if their actions or failure to act are due to gross negligence or willful misconduct or for any amount incurred through any settlement or compromise of any action, unless the Company consents in writing to such settlement or compromise.
8.6Binding Decisions or Actions.  The decision or action of the Committee in respect of any question arising out of or in connection with the administration, interpretation, and application of the Plan and the rules and regulations thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan.
Article 9Amendment and Termination
9.1Amendments.  The Company, by action taken by the Board or the Compensation and People Committee, may amend the Plan at any time and for any reason, provided that any such amendment shall not reduce the vested Account Balances of any Participant accrued as of the date of any such amendment.
9.2Termination.  The Company, by action taken by the Board, may terminate the Plan and pay Participants and Beneficiaries their Account Balances in a single distribution at any time, to the extent and in accordance with Treas. Reg. Section 1.409A-3(j)(4)(ix).
9.3Accounts Taxable Under Code Section 409A.  The Plan is intended to constitute a plan of deferred compensation that meets the requirements for deferral of income taxation under Code Section 409A.  The Committee, pursuant to its authority to interpret the Plan, may sever from the Plan or any Compensation Deferral Agreement any provision or exercise of a right that otherwise would result in a violation of Code Section 409A.
Article 10Informal Funding
10.1General Assets.  Obligations established under the terms of the Plan may be satisfied from the general funds of the Company or a trust described in this Article 10.  No Participant, spouse, or Beneficiary shall have any right, title, or interest in assets of the Company.  Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship, between the Company and any Participant, spouse, or Beneficiary.  To the extent that any person acquires a right to receive payments hereunder, such rights are no greater than the right of an unsecured general creditor of the Company.
10.2Rabbi Trust.  The Company may, in its sole discretion, establish a grantor trust, commonly known as a rabbi trust, as a vehicle for accumulating assets to pay benefits 
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under the Plan.  Payments under the Plan may be made from the general assets of the Company or from the assets of any such rabbi trust.  Any such payment made shall reduce the obligation owed to the receiving Participant or Beneficiary under the Plan.
Article 11Claims
11.1Filing a Claim.  Any controversy or claim arising out of or relating to the Plan shall be filed in writing with a committee designated by the Committee to resolve such controversies and claims (the “Claims Committee”), which shall make all determinations concerning such claim.  Any claim filed with the Claims Committee and any decision by the Claims Committee denying such claim shall be in writing and shall be delivered to the Participant or Beneficiary filing the claim (the “Claimant”).  Notice of a claim for payments shall be delivered to the Claims Committee within 90 days of the latest date upon which the payment could have been timely made in accordance with the terms of the Plan and Code Section 409A, and if not paid, the Participant or Beneficiary must file a claim under this Article 11 not later than 180 days after such latest date.  If the Participant or Beneficiary fails to file a timely claim, the Participant or Beneficiary forfeits any amounts to which such Participant or Beneficiary may have been entitled to receive under the claim.
(a)In General.  Notice of a denial of benefits will be provided within 90 days of the Claims Committee’s receipt of the Claimant’s claim for benefits.  If the Claims Committee determines that it needs additional time to review the claim, the Claims Committee will provide the Claimant with a notice of the extension before the end of the initial 90-day period.  The extension will not be more than 90 days from the end of the initial 90-day period, and the notice of extension will explain the special circumstances that require the extension and the date by which the Claims Committee expects to make a decision.
(b)Contents of Notice.  If a claim for benefits is completely or partially denied, notice of such denial shall be in writing.  Any electronic notification shall comply with the standards imposed by Department of Labor Regulation 29 CFR 2520.104b-1(c)(1)(i), (iii), and (iv).  The notice of denial shall: (i) set forth the specific reasons for denial in plain language; (ii) cite the pertinent provisions of the Plan document; (iii) explain, where appropriate, how the Claimant can perfect the claim, including a description of any additional material or information necessary to complete the claim and why such material or information is necessary; and (iv) explain the claims review procedures and the time limits applicable to such procedures, including the right to appeal the decision, the deadline by which such appeal must be filed, and a statement of the Claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse decision on appeal and the specific date by which such a civil action must commence under Section 11.4.
11.2Appeal of Denied Claims.  A Claimant whose claim has been completely or partially denied shall be entitled to appeal the claim denial by filing a written appeal with a committee designated by the Committee to hear such appeals, which may be the Committee itself (the “Appeals Committee”).  A Claimant who timely requests a review of the denied claim (or such Claimant’s authorized representative) may review, upon request and free of charge, copies of all documents, records, and other information relevant to the denial and may submit written comments, documents, records, and other information relating to the claim to the Appeals Committee.  All written comments, documents, records, and other information shall be considered “relevant” if the information: (a) was relied upon in making a benefits determination; (b) was submitted, 
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considered, or generated in the course of making a benefits decision, regardless of whether it was relied upon to make the decision; or (c) demonstrates compliance with administrative processes and safeguards established for making benefit decisions.  The review shall take into account all comments, documents, records, and other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.  The Appeals Committee may, in its sole discretion and if it deems appropriate or necessary, decide to hold a hearing with respect to the claim appeal.
(a)In General.  Appeal of a denied benefits claim must be filed in writing with the Appeals Committee no later than 60 days after receipt of the written notification of such claim denial.  The Appeals Committee shall make its decision regarding the merits of the denied claim within 60 days following receipt of the appeal (or within 120 days after such receipt, in a case where there are special circumstances requiring extension of time for reviewing the appealed claim).  If an extension of time for reviewing the appeal is required because of special circumstances, written notice of the extension shall be furnished to the Claimant prior to the commencement of the extension.  The notice will indicate the special circumstances requiring the extension of time and the date by which the Appeals Committee expects to render the determination on review.  The review will take into account comments, documents, records, and other information submitted by the Claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.
(b)Contents of Notice.  If a benefits claim is completely or partially denied on review, notice of such denial shall be in writing.  Any electronic notification shall comply with the standards imposed by Department of Labor Regulation 29 CFR 2520.104b-1(c)(1)(i), (iii), and (iv).  Such notice shall set forth: (i) the reasons for denial in plain language; (ii) the specific reason or reasons for the denial; (iii) specific references to the pertinent Plan provisions on which the denial is based; (iv) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, or other information “relevant” (as described in Section 11.2) to the Claimant’s claim; and (v) a statement of the Claimant’s right to bring an action under Section 502(a) of ERISA, following an adverse decision on review and the specific date by which such a civil action must commence under Section 11.4.
11.3Claims Appeals Upon Change in Control.  Upon a Change in Control, the Appeals Committee, as constituted immediately prior to such Change in Control, shall continue to act as the Appeals Committee.  The Company may not remove any member of the Appeals Committee but may replace resigning members if two-thirds of the members of the Board and a majority of Participants and Beneficiaries with Account Balances consent to the replacement.
The Appeals Committee shall have the exclusive authority at the appeals stage to interpret the terms of the Plan and resolve appeals under the Claims Procedure.
The Company shall: (a) pay all reasonable expenses and fees of the Appeals Committee; (b) indemnify the Appeals Committee (including individual committee members) against any costs, expenses, and liabilities, including attorneys’ fees and expenses arising in connection with the performance of the Appeals Committee hereunder, except with respect to matters resulting from the Appeals Committee’s gross negligence or willful misconduct; and (c) supply full and timely information to the Appeals Committee on all 
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matters related to the Plan, Participants, Beneficiaries, Accounts, and any rabbi trust as the Appeals Committee may reasonably require.
11.4Legal Action.  A Claimant may not bring any legal action, including commencement of any arbitration, relating to a claim for benefits under the Plan unless and until the Claimant has followed the claims procedures under the Plan and exhausted such Claimant’s administrative remedies under Sections 11.1 and 11.2.  No such legal action may be brought more than 12 months following the notice of denial of benefits under Section 11.2, or if no appeal is filed by the applicable appeals deadline, 12 months following the appeals deadline.
If a Participant or Beneficiary prevails in a legal proceeding brought under the Plan to enforce the rights of such Participant or Beneficiary or any similarly situated Participant or Beneficiary, in whole or in part, the Company shall reimburse such prevailing Participant or Beneficiary for all legal costs (including reasonable attorneys’ fees) and reasonably documented (a) out-of-pocket expenses and (b) other liabilities incurred by such Participant or Beneficiary as a result of such proceedings.
11.5Discretion of Appeals Committee.  All interpretations, determinations, and decisions of the Appeals Committee with respect to any claim shall be made in its sole discretion and shall be final and conclusive.
11.6Arbitration.
(a)Prior to Change in Control.  If, prior to a Change in Control, any claim or controversy between the Company and a Claimant is not resolved through the claims procedure set forth in Article 11, such claim shall be submitted to and resolved exclusively by expedited binding arbitration by a single arbitrator.  Arbitration shall be conducted in accordance with the following procedures:
The complaining party shall promptly send written notice to the other party identifying the matter in dispute and the proposed remedy.  Following the giving of such notice, the parties shall meet and attempt in good faith to resolve the matter.  If the parties are unable to resolve the matter within 21 days, the parties shall meet and attempt in good faith to select a single arbitrator acceptable to both parties.  If a single arbitrator is not selected by mutual consent within 10 Business Days following the giving of the written notice of dispute, an arbitrator shall be selected from a list of nine persons, each of whom shall be an attorney who is either engaged in the active practice of law or recognized arbitrator and who, in either event, is experienced in serving as an arbitrator in disputes between employers and employees, which list shall be provided by the main office of either JAMS, the American Arbitration Association (“AAA”) or the Federal Mediation and Conciliation Service.  If, within three Business Days of the parties’ receipt of such list, the parties are unable to agree on an arbitrator from the list, then the parties shall each strike names alternatively from the list, with the first to strike being determined by the flip of a coin.  After each party has had four strikes, the remaining name on the list shall be the arbitrator.  If such person is unable to serve for any reason, the parties shall repeat this process until an arbitrator is selected.
Unless the parties agree otherwise, within 60 days of the selection of the arbitrator, a hearing shall be conducted before such arbitrator at a time and a place agreed upon by the parties.  If the parties are unable to agree upon the time or place of the arbitration, the time and place shall be designated by the arbitrator 
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after consultation with the parties.  Within 30 days of the conclusion of the arbitration hearing, the arbitrator shall issue an award, accompanied by a written decision explaining the basis for the arbitrator’s award.
In any arbitration hereunder, the Company shall pay all administrative fees of the arbitration and all fees of the arbitrator.  Each party shall pay its own attorneys’ fees, costs, and expenses, unless the arbitrator orders otherwise.  The arbitrator shall have no authority to add to or to modify this Plan, shall apply all applicable law, and shall have no lesser and no greater remedial authority than would a court of law resolving the same claim or controversy.  The arbitrator shall, upon an appropriate motion, dismiss any claim without an evidentiary hearing if the party bringing the motion establishes that it would be entitled to summary judgment if the matter had been pursued in court litigation.
The parties shall be entitled to discovery as follows: (i) each party may take no more than three depositions; (ii) the Company may depose the Participant or Beneficiary plus two other witnesses; and (iii) the Participant or Beneficiary may depose the Company, pursuant to Rule 30(b)(6) of the Federal Rules of Civil Procedure, plus two other witnesses.  Each party may make reasonable document discovery requests as are allowed in the discretion of the arbitrator.
The decision of the arbitrator shall be final, binding, and non-appealable and may be enforced as a final judgment in any court of competent jurisdiction.
This arbitration provision of the Plan shall extend to claims against any parent, subsidiary, or affiliate of each party and, when acting within such capacity, any officer, director, shareholder, Participant, Beneficiary, or agent of any party, or of any of the above, and shall apply to claims arising out of state and federal statutes and local ordinances as well as to claims arising under the common law or under this Plan.
Notwithstanding the foregoing, and unless otherwise agreed between the parties, either party may apply to a court for provisional relief, including a temporary restraining order or preliminary injunction, on the ground that the arbitration award to which the applicant may be entitled may be rendered ineffectual without provisional relief.
Any arbitration hereunder shall be conducted in accordance with the Federal Arbitration Act.  However, in the event of any inconsistency between the rules and procedures of such Act and the terms of this Plan, the terms of this Plan shall prevail.
If any of the provisions of this Section 11.6(a) are determined to be unlawful or otherwise unenforceable, such determination shall not affect the validity of the remainder of this Section 11.6(a), and this Section 11.6(a) shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible and to insure that the resolution of all conflicts between the parties, including those arising out of statutory claims, shall be resolved by neutral, binding arbitration.  If a court finds that the provisions of this Section 11.6(a) are not absolutely binding, then the parties intend any arbitration decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder of fact, and treated as determinative to the maximum extent permitted by law.
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The parties do not agree to arbitrate any putative class action or any other representative action.  The parties agree to arbitrate claims only to the extent that they are brought by a single Participant or Beneficiary.
(b)Upon Change in Control.  Upon a Change in Control, Section 11.6(a) shall not apply, and any legal action initiated by a Participant or Beneficiary to enforce rights under the Plan may be brought in any court of competent jurisdiction.  Notwithstanding the Appeals Committee’s discretion under Sections 11.3 and 11.5, the court shall apply a de novo standard of review to any prior claims decision under Sections 11.1 through 11.3 or any other determination made by the Company, the Board, the Committee, or the Appeals Committee.
Article 12General Provisions
12.1Assignment.  No interest of any Participant, spouse, or Beneficiary under this Plan and no benefit payable hereunder shall be assigned as security for a loan, and any such purported assignment shall be null, void, and of no effect, nor shall any such interest or any such benefit be subject in any manner, either voluntarily or involuntarily, to anticipation, sale, transfer, assignment, or encumbrance by or through any Participant, spouse, or Beneficiary.  Notwithstanding anything to the contrary herein, the Committee has the discretion to make payments to an alternate payee in accordance with the terms of a “domestic relations order” (as defined in Code Section 414(p)(1)(B)).
Without the consent of any Participant or Beneficiary, the Company may assign any or all of its liabilities under this Plan in connection with any restructuring, recapitalization, sale of assets, Change in Control, or similar transaction affecting the Company.
12.2No Legal or Equitable Rights or Interest.  No Participant or other person shall have any legal or equitable rights or interest in this Plan that are not expressly granted in this Plan.  Participation in this Plan does not give any person any right to be retained in the service of the Company or any Employer, and nothing contained herein shall be construed to constitute a contract of employment or other services between an Employee and the Company or an Employer.  Nothing contained herein shall be construed as changing a Participant’s status from employee to independent contractor or from independent contractor to employee.  The Company makes no representations or warranties as to the tax consequences to any Participant or Beneficiary resulting from a deferral of income pursuant to the Plan.
12.3Notices.  All notices, requests, instructions, claims, demands, and other communications required or permitted to be given hereunder shall be effective: (a) if delivered personally, when received; (b) if sent by electronic mail or other electronic transmission, upon confirmation of receipt; (c) if mailed by registered or certified mail (postage prepaid, return receipt requested), two business days after being mailed; or (d) if sent by a nationally recognized overnight courier, upon the earlier of actual receipt and two business days after delivery against waybill, and shall be addressed as follows (or to any other address that a party indicates by a notice delivered to the other parties pursuant to this Section 12.3):
If to the Company:
Palo Alto Networks, Inc.
3000 Tannery Way
Santa Clara, CA 95054
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If to a Participant or Beneficiary:
To the most recent address that the Company or the Employer has on file for the Participant
12.4Headings.  The headings of Sections are included solely for convenience of reference, and if there is any conflict between such headings and the text of this Plan, the text shall control.
12.5Invalid or Unenforceable Provisions.  If any provision of this Plan is held invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions hereof, and the Committee may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not been included.
12.6Lost Participants or Beneficiaries.  Any Participant or Beneficiary who is entitled to a benefit from the Plan has the duty to keep the Committee advised of such Participant or Beneficiary’s current mailing address.  If benefit payments are returned to the Plan or are not presented for payment after a reasonable amount of time, the Committee shall presume that the payee is missing.  The Committee, after making efforts it deems reasonable and appropriate in its discretion to locate the payee, shall stop payment on any uncashed checks and may discontinue making future payments until contact with the payee is restored.  If the Committee is unable to locate the Participant or Beneficiary after (a) the first anniversary of the date on which payment is to be made, then the Participant’s Account will not be further credited with Earnings, and (b) the fifth anniversary of the date on which payment is scheduled to be made, then the Participant’s Account will be forfeited.  However, such forfeited Account shall thereafter be reinstated, without further adjustment for interest, if a valid claim is made by or on behalf of the Participant or Beneficiary for all or part of the forfeited Account.
12.7Facility of Payment to a Minor.  If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Committee may, in its discretion, make such distribution to (a) the legal guardian or, if none, to a parent of a minor payee with whom the payee maintains a residence, or (b) the conservator or committee or, if none, to the person having custody of an incompetent payee.  Any such distribution shall fully discharge the Committee, the Company, and the Plan from further liability on account thereof.
12.8Successors and Assigns.  This Plan shall inure to the benefit of and be binding upon the Company, each Participant, each Beneficiary, and their respective successors, executors, administrators, heirs, and permitted assigns.
12.9Governing Law.  To the extent not preempted by ERISA, the laws of the state of Delaware shall govern the construction and administration of the Plan.
12.10Code Section 409A.  This Plan is intended to be administered in compliance with Code Section 409A, and each provision of the Plan shall be interpreted consistent with Code Section 409A.  Although intended to comply with Code Section 409A, this Plan shall not constitute a guarantee to any Participant or Beneficiary that the Plan in form or in operation will result in the deferral of federal or state income tax liabilities or that the Participant or Beneficiary will not be subject to the additional taxes imposed under Code Section 409A.  The Company shall not have any legal obligation to a Participant with respect to taxes imposed under Code Section 409A.
21
279504079v.27Exhibit 4.8

  

   

    

   

    

   

    

  COREBRIDGE FINANCIAL, INC.

   

  AND

   

  THE BANK OF NEW YORK MELLON

      TRUSTEE

   

  

  
  
     

  

  
   

  SUBORDINATED INDENTURE

      DATED AS OF AUGUST 23, 2022

   

  

  
  
     

  

  
   

  PROVIDING FOR THE ISSUANCE OF SUBORDINATED DEBT SECURITIES IN SERIES 

   

    

   

    

   

    

  
     

    
      
 

  

  Certain Sections of this Indenture relating to Sections 310 through 318,

      inclusive, of the Trust Indenture Act of 1939:

   

  	
          TRUST INDENTURE ACT SECTION

        	 	
          INDENTURE SECTION

        
	§ 310(a)(1)	 	6.09 
	(a)(2)	 	6.09
	(a)(3)	 	Not Applicable
	(a)(4)	 	Not Applicable
	(b)	 	6.08
	 	 	6.10
	§311(a)	 	6.13
	(b)	 	6.13
	§ 312(a)	 	7.01
	 	 	7.02
	(b)	 	7.02
	(c)	 	7.02
	§ 313(a)	 	7.03
	(b)	 	7.03
	(c)	 	7.03
	(d)	 	7.03
	§ 314(a)	 	7.04
	(a)(4)	 	1.01
	 	 	10.04
	(b)	 	Not Applicable
	(c)(1)	 	1.02
	(c)(2)	 	1.02
	(c)(3)	 	Not Applicable
	(d) 	 	Not Applicable
	(e) 	 	1.02
	§ 315(a) 	 	6.01
	(b)	 	6.02
	(c)	 	6.01
	(d)	 	6.01
	(e)	 	5.14
	§ 316(a)	 	1.01
	(a)(1)(A)	 	5.02
	 	 	5.12
	(a)(1)(B)	 	5.13
	(a)(2)	 	Not Applicable
	(b)	 	5.08
	(c)	 	1.04
	§ 317(a)(1)	 	5.03
	(a)(2)	 	5.04
	(b)	 	10.03
	§ 318(a)	 	1.07

   

  

  
  
     

  

  
  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 OTHER PROVISIONS OF GENERAL APPLICATION

        
	Section 1.01   	Definitions	1
	Section 1.02   	Compliance Certificates and Opinions	9
	Section 1.03   	Form of Documents Delivered to Trustee	10
	Section 1.04   	Acts of Holders; Record Dates	10
	Section 1.05   	Notices, Etc., to Trustee and Company	13
	Section 1.06   	Notice to Holders; Waiver	14
	Section 1.07   	Conflict with Trust Indenture Act	14
	Section 1.08   	Effect of Headings and Table of Contents	14
	Section 1.09   	Successors and Assigns	15
	Section 1.10   	Separability Clause	15
	Section 1.11   	Benefits of Indenture	15
	Section 1.12   	Governing Law	15
	Section 1.13   	Legal Holidays	15
	Section 1.14   	Submission to Jurisdiction	15
	Section 1.15   	Waiver of Jury Trial	16
	Section 1.16   	Force Majeure	16
	Section 1.17   	Foreign Account Tax Compliance Act	16
	
          Article II

           

          SECURITY FORMS

        
	Section 2.01   	Forms Generally	16
	Section 2.02   	Form of Face of Security	17
	Section 2.03   	Form of Reverse of Security	19
	Section 2.04   	Form of Legend for Global Securities	23
	Section 2.05   	Form of Trustee’s Certificate of Authentication	23
	
          Article III

           

          THE SECURITIES

        
	Section 3.01   	Amount Unlimited; Issuable in Series	24
	Section 3.02   	Denominations	27
	Section 3.03   	Execution, Authentication, Delivery and Dating	28
	Section 3.04   	Temporary Securities	29

  

  
    i

    
      
 

  

  

  	Section 3.05   	Registration, Registration of Transfer and Exchange	30
	Section 3.06   	Mutilated, Destroyed, Lost and Stolen Securities	32
	Section 3.07   	Payment of Interest; Interest Rights Preserved	33
	Section 3.08   	Persons Deemed Owners	34
	Section 3.09   	Cancellation	34
	Section 3.10   	Computation of Interest	34
	Section 3.11   	CUSIP Numbers	35
	Section 3.12   	Original Issue Discount	35
	
          Article IV

           

          SATISFACTION AND DISCHARGE

        
	Section 4.01   	Satisfaction and Discharge of Indenture	35
	Section 4.02   	Application of Trust Money	36
	
          Article V

           

          REMEDIES

        
	Section 5.01   	Events of Default	37
	Section 5.02   	Acceleration of Maturity; Rescission and Annulment	38
	Section 5.03   	Collection of Indebtedness and Suits for Enforcement by Trustee	39
	Section 5.04   	Trustee May File Proofs of Claim	40
	Section 5.05   	Trustee May Enforce Claims Without Possession of Securities	41
	Section 5.06   	Application of Money Collected	41
	Section 5.07   	Limitation on Suits	41
	Section 5.08   	Unconditional Right of Holders to Receive Principal, Premium and Interest	42
	Section 5.09   	Restoration of Rights and Remedies	42
	Section 5.10   	Rights and Remedies Cumulative	42
	Section 5.11   	Delay or Omission Not Waiver	43
	Section 5.12   	Control by Holders	43
	Section 5.13   	Waiver of Past Defaults	43
	Section 5.14   	Undertaking for Costs	44
	Section 5.15   	Waiver of Usury, Stay or Extension Laws	44
	
          Article VI

           

          THE TRUSTEE

        
	Section 6.01   	Certain Duties and Responsibilities	44
	Section 6.02   	Notice of Defaults	46
	Section 6.03   	Certain Rights of Trustee	46

  

  
    ii

    
      
 

  

  

  	Section 6.04   	Not Responsible for Recitals or Issuance of Securities	48
	Section 6.05   	May Hold Securities	48
	Section 6.06   	Money Held in Trust	48
	Section 6.07   	Compensation and Reimbursement	48
	Section 6.08   	Conflicting Interests	49
	Section 6.09   	Corporate Trustee Required; Eligibility	49
	Section 6.10   	Resignation and Removal; Appointment of Successor	50
	Section 6.11   	Acceptance of Appointment by Successor	51
	Section 6.12   	Merger, Conversion, Consolidation or Succession to Business	52
	Section 6.13   	Preferential Collection of Claims Against Company	53
	
          Article VII

           

          HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

        
	Section 7.01   	Company to Furnish Trustee Names and Addresses of Holders	53
	Section 7.02   	Preservation of Information; Communications to Holders	54
	Section 7.03   	Reports by Trustee	54
	Section 7.04   	Reports by Company	54
	
          Article VIII

           

          CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

        
	Section 8.01   	Company May Consolidate, Etc., Only on Certain Terms	55
	Section 8.02   	Successor Substituted	56
	
          Article IX

           

          SUPPLEMENTAL INDENTURES

        
	Section 9.01   	Supplemental Indentures Without Consent of Holders	56
	Section 9.02   	Supplemental Indentures With Consent of Holders	57
	Section 9.03   	Execution of Supplemental Indentures	59
	Section 9.04   	Effect of Supplemental Indentures	59
	Section 9.05   	Conformity with Trust Indenture Act	59
	Section 9.06   	Reference in Securities to Supplemental Indentures	59
	
          Article X

           

          COVENANTS

        
	Section 10.01   	Payment of Principal, Premium and Interest	60
	Section 10.02   	Maintenance of Office or Agency	60

  

  
    iii

    
      
 

  

  

  	Section 10.03   	Money for Securities Payments to Be Held in Trust	60
	Section 10.04   	Statement by Officers as to Default	62
	Section 10.05   	Existence	62
	Section 10.06  	Waiver of Certain Covenants	62
	
          Article XI

           

          REDEMPTION OF SECURITIES

        
	Section 11.01   	Applicability of Article	62
	Section 11.02   	Election to Redeem; Notice to Trustee	63
	Section 11.03   	Selection of Securities to Be Redeemed	63
	Section 11.04   	Notice of Redemption	64
	Section 11.05   	Deposit of Redemption Price	64
	Section 11.06   	Securities Payable on Redemption Date	65
	Section 11.07   	Securities Redeemed in Part	65
	
          Article XII

           

          SINKING FUNDS

        
	Section 12.01   	Applicability of Article	65
	Section 12.02   	Satisfaction of Sinking Fund Payments with Securities	66
	Section 12.03   	Redemption of Securities for Sinking Fund	66
	
          Article XIII

           

          DEFEASANCE AND COVENANT DEFEASANCE

        
	Section 13.01   	Company’s Option to Effect Defeasance or Covenant Defeasance	67
	Section 13.02   	Defeasance and Discharge	67
	Section 13.03   	Covenant Defeasance	68
	Section 13.04   	Conditions to Defeasance or Covenant Defeasance	68
	Section 13.05   	Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions	70
	Section 13.06   	Reinstatement	71
	
          Article XIV

           

          SUBORDINATION OF SECURITIES

        
	Section 14.01   	Securities Subordinate to Senior Indebtedness	71
	Section 14.02   	Payment Over of Proceeds Upon Dissolution, Etc	72
	Section 14.03   	No Payment When Senior Indebtedness in Default	73

  

  
    iv

    
      
 

  

  

  	Section 14.04   	Payment Permitted If No Default	75
	Section 14.05   	Subrogation to Rights of Holders of Senior Indebtedness	75
	Section 14.06   	Provisions Solely to Define Relative Rights	75
	Section 14.07   	Trustee to Effectuate Subordination	76
	Section 14.08   	No Waiver of Subordination Provisions	76
	Section 14.09   	Notice to Trustee	77
	Section 14.10   	Reliance on Judicial Order or Certificate of Liquidating Agent	78
	Section 14.11   	Trustee Not Fiduciary for Holders of Senior Indebtedness	78
	Section 14.12   	Rights of Trustee as Holder of Senior Indebtedness; Preservation of Trustee’s Rights	78
	Section 14.13   	Article Applicable to Paying Agents	79

  
    v

    
      
 

  

  SUBORDINATED INDENTURE, dated as of August 23, 2022, between Corebridge
      Financial, Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”), having its principal office at 2919 Allen Parkway, Woodson Tower, Houston, Texas 77019, and The Bank of New York
      Mellon, a New York banking corporation, as Trustee (together with its successors and assigns in such capacity, the “Trustee”).

   

  RECITALS OF THE COMPANY

   

  The Company has duly authorized the execution and delivery of this
      Indenture to provide for the issuance from time to time of its unsecured and subordinated debt securities, debentures, notes, bonds or other evidences of indebtedness (herein called the “Securities”), in an unlimited aggregate principal amount
      to be issued in one or more series as in this Indenture provided.

   

  All things necessary to make this Indenture a valid agreement of the
      Company, in accordance with its terms, have been done.

   

  NOW, THEREFORE, THIS INDENTURE WITNESSETH:

   

  For and in consideration of the premises and the purchase of the
      Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows:

   

  Article I

      

      DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

   

   Section 1.01         Definitions .

   

  For all purposes of this Indenture or any indenture supplemental hereto,
      except as otherwise expressly provided in this Indenture or in any indenture supplemental hereto, or unless the context otherwise requires:

   

  (1)          the terms defined in this Article have the
      meanings assigned to them in this Article and include the plural as well as the singular;

   

  (2)          all other terms used herein which are defined in
      the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein;

   

  (3)          all accounting terms not otherwise defined herein
      have the meanings assigned to them in accordance with generally accepted accounting principles in the United States of America, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to
      any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation; 

  

  
     

    
      
 

  

  
  (4)          unless the context otherwise requires, any
      reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this Indenture; and

   

  (5)          the words “herein”, “hereof” and “hereunder” and
      other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

   

  “Act”, when used with respect to any Holder, has the meaning
      specified in Section 1.04.

   

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

   

  “Applicable Law” has the meaning specified in ‎Section 1.17.

   

  “Authorized Officers” has the meaning specified in ‎Section 1.05.

   

  “Board of Directors” means either the board of directors of the
      Company or any duly authorized committee of that board.

   

  “Board Resolution” means a copy of a resolution certified by the
      Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee.

   

  “Business Day”, when used with respect to any Place of Payment,
      means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close.

   

  “Code” has the meaning specified in ‎Section 1.17.

   

  “Commission” means the Securities and Exchange Commission, from
      time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing
      such duties at such time. 

  

  
    2

    
      
 

  

  “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 such successor Person.

   

  “Company Request” or “Company Order” means a written
      request or order signed in the name of the Company by its Chief Executive Officer, the President, any Executive Vice President or Senior Vice President or any Vice President (or any Person designated by one of them in writing as authorized to execute
      and deliver Company Requests and Company Orders), and by its Treasurer, one of its Assistant Treasurers, its Secretary or one of its Assistant Secretaries (or any Person designated by one of them in writing as authorized to execute and deliver
      Company Requests and Company Orders), and delivered to the Trustee.

   

  “Corporate Trust Office” means the principal office of the
      Trustee in New York, New York at which at any particular time its corporate trust business shall be administered, which office at the date hereof is located at 240 Greenwich Street, Floor 7 East, New York, New York 10286, Attention: Corporate Trust
      Administration, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may
      designate from time to time by notice to the Holders and the Company).

   

  “corporation” means a corporation, association, company, limited
      liability company, joint-stock company or business trust.

   

  “Covenant Defeasance” has the meaning specified in Section 13.03.

   

  “Defaulted Interest” has the meaning specified in Section 3.07.

   

  “Defeasance” has the meaning specified in Section 13.02.

   

  “Depositary” means, with respect to Securities of any series
      issuable in whole or in part in the form of one or more Global Securities, any Person that is designated to act as Depositary for such Securities as contemplated by Section 3.01.

   

  “Electronic Means” means the following communications methods:
      e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in
      connection with its services hereunder. 

  

  
    3

    
      
 

  

  “Event of Default” has the meaning specified in Section 5.01.

   

  “Exchange Act” means the Securities Exchange Act of 1934 and any
      statute successor thereto, in each case as amended from time to time.

   

  “Expiration Date” has the meaning specified in Section 1.04.

   

  “Global Security” means a Security that evidences all or part of
      the Securities of any series and bears the legend set forth in Section 2.04 (or such legend as may be specified as contemplated by Section 3.01 for such Securities).

   

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

   

  “Incur” means, with respect to any indebtedness or other
      obligation of any Person, to create, issue, incur (by conversion, exchange or otherwise), assume, guarantee or otherwise become liable in respect of such indebtedness or other obligation or the recording, as required pursuant to generally accepted
      accounting principles or otherwise, of any such indebtedness or other obligation as a liability on the balance sheet of such Person (and “Incurrence,” “Incurred,” “Incurrable” and “Incurring” shall have meanings correlative to the foregoing); provided,
      however, that a change in generally accepted accounting principles that results in an obligation of such Person that exists at such time becoming indebtedness shall not be deemed an Incurrence of such indebtedness.

   

  “Indenture” means this instrument as originally executed and as
      it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the
      provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as
      contemplated by Section 3.01.

   

  “Instructions” has the meaning specified in ‎Section 1.05.

   

  “interest”, when used with respect to an Original Issue Discount
      Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

   

  “Interest Payment Date”, when used with respect to any Security,
      means the Stated Maturity of an installment of interest on such Security.

   

  “Investment Company Act” means the Investment Company Act of 1940
      and any statute successor thereto, in each case as amended from time to time.

   

  “Junior Subordinated Payment” has the meaning specified in
      ‎Section 14.02. 

  

  
    4

    
      
 

  

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

   

  “Notice of Default” means a written notice of the kind specified
      in ‎Section 5.01(4).

   

  “Officers’ Certificate” means a certificate signed by the Chief
      Executive Officer, the President, any Executive Vice President or Senior Vice President or any Vice President, and by the Treasurer, an Assistant Treasurer, the Controller or Assistant Controller, the Secretary or an Assistant Secretary, of the
      Company, and delivered to the Trustee.

   

  “Opinion of Counsel” means a written opinion of counsel, who may
      be counsel for the Company, and who shall be reasonably acceptable to the Trustee.

   

  “Original Issue Discount Security” means any Security which
      provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02.

   

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

   

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

   

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

   

  (3)          Securities as to which Defeasance has been
      effected pursuant to Section 13.02; and

   

  (4)          Securities which have been paid pursuant to
      Section 3.06 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof
      satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; 

  

  
    5

    
      
 

  

  provided, however, that in determining whether the Holders of the requisite principal
      amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security
      which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 5.02, (B) if, as of such date, the
      principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 3.01, (C) the

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

   

  “Paying Agent” means any Person authorized by the Company to pay
      the principal of or any premium or interest on any Securities on behalf of the Company.

   

  “Payment Blockage Period” has the meaning specified in ‎Section
      14.03.

   

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

   

  “Place of Payment”, when used with respect to the Securities of
      any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 3.01 or, if not so specified, New York, New York.

   

  “Predecessor Security” of any particular Security means every
      previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.06 in exchange for or in lieu of a
      mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 

  

  
    6

    
      
 

  

  “Proceeding” has the meaning specified in ‎Section 14.02.

   

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

   

  “Redemption Price”, when used with respect to any Security to be
      redeemed, means the price at which it is to be redeemed pursuant to this Indenture.

   

  “Regular Record Date” for the interest payable on any Interest
      Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01.

   

  “Responsible Officer” when used with respect to the Trustee,
      means any officer within the corporate trust department of the Trustee, including any vice president, any assistant vice president, any assistant secretary, any senior associate, any associate, any trust officer or any other officer of the Trustee
      customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such person’s
      knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

   

  “Securities” has the meaning stated in the first recital of this
      Indenture and more particularly means any Securities authenticated and delivered under this Indenture.

   

  “Securities Act” means the Securities Act of 1933 and any statute
      successor thereto, in each case as amended from time to time.

   

  “Securities Payment” has the meaning specified in ‎Section 14.02.

   

  “Security Register” and “Security Registrar” have the
      respective meanings specified in ‎Section 3.05.

   

  “Senior Indebtedness” means the principal of, premium, if any,
      and interest on and any other payment due pursuant to any of the following, whether Incurred on or prior to the date hereof or hereafter Incurred:

   

  (i) all obligations of the Company (other than obligations pursuant to
      this Indenture, including the Securities) for money borrowed; 

  

  
    7

    
      
 

  

  (ii) all obligations of the Company evidenced by securities, notes,
      debentures, bonds or other similar instruments (other than the Securities), including obligations Incurred in connection with the acquisition of property, assets or businesses;

   

  (iii) all capital lease obligations of the Company;

   

  (iv) all reimbursement obligations of the Company with respect to
      letters of credit, bankers’ acceptances or similar facilities issued for the account of the Company;

   

  (v) all obligations of the Company issued or assumed as the deferred
      purchase price of property or services, including all obligations under master lease transactions pursuant to which the Company or any of its subsidiaries have agreed to be treated as owner of the subject property for U.S. federal income tax
      purposes;

   

  (vi) all payment obligations of the Company under interest rate swap or
      similar agreements or foreign currency hedge, exchange or similar agreements at the time of determination, including any such obligations Incurred by the Company solely to act as a hedge against increases in interest rates that may occur under the
      terms of other outstanding variable or floating rate indebtedness of the Company; and

   

  (vii) all obligations of the type referred to in clauses (i) through
      (vi) above of another Person and all dividends of another Person the payment of which, in either case, the Company has assumed or guaranteed or for which the Company is responsible or liable, directly or indirectly, jointly or severally, as obligor,
      guarantor or otherwise;

   

  provided, however, that “Senior Indebtedness” shall not
      include: (1) obligations to trade creditors created or assumed by the Company in the ordinary course of business; (2) indebtedness that is by its terms subordinate, or not superior, in right of payment to the Securities; or (3) in respect of any
      series of Securities, any “Pari Passu Securities” as defined in a supplemental indenture hereto in respect of such series of Securities.

   

  “Senior Nonmonetary Default” has the meaning specified in
      ‎Section 14.03.

   

  “Senior Payment Default” has the meaning specified in ‎Section
      14.03.

   

  “Special Record Date” for the payment of any Defaulted Interest
      means a date fixed by the Trustee pursuant to Section 3.07.

   

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

   

  “Subsidiary” means a corporation, partnership, limited liability
      company or trust more than 50% 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. 

  

  
    8

    
      
 

  

  “Trust Indenture Act” means the Trust Indenture Act of 1939 as in
      force at the date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust
      Indenture Act of 1939 as so amended.

   

  “Trustee” means the Person named as the “Trustee” in the first
      paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include 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 shall mean the Trustee with respect to Securities of that series.

   

  “U.S. Government Obligation” has the meaning specified in
      ‎Section 13.04.

   

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

   

  “Voting Stock” means stock or other interests evidencing
      ownership in a corporation, limited liability company, partnership or trust which ordinarily has voting power for the election of directors, or persons performing equivalent functions, whether at all times or only so long as no senior class of stock
      has such voting power by reason of any contingency.

   

   Section 1.02        Compliance
        Certificates and Opinions.

   

  Upon any application or request by the Company to the Trustee to take
      any action under any provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act. Each such certificate or opinion shall be given in the form of an Officers’
      Certificate, if to be given by an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture.

   

  Every certificate or opinion with respect to compliance with a condition
      or covenant provided for in this Indenture (except for certificates provided for in ‎Section 10.04) shall include,

   

  (1)          a statement that each individual signing such
      certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

  

  
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  (2)          a brief statement as to the nature and scope of
      the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

   

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

   

  (4)          a statement as to whether, in the opinion of each
      such individual, such condition or covenant has been complied with.

   

   Section 1.03        Form of Documents
        Delivered to Trustee.

   

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

   

  Any certificate or opinion of an officer of the Company may be based,
      insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to
      the matters upon which his or her certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
      officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or
      representations with respect to such matters are erroneous.

   

  Where any Person is required to make, give or execute two or more
      applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument.

   

   Section 1.04        Acts of Holders;
        Record Dates.

   

  Any request, demand, authorization, direction, notice, consent, waiver
      or other action provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in
      writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or
      instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such
      agent shall be sufficient for any purpose of this Indenture and (subject to Section 6.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. 

  

  
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  The fact and date of the execution by any Person of any such instrument
      or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing
      acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his or her individual capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority. The fact and
      date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient.

   

  The ownership of Securities shall be proved by the Security Register.

   

  Any request, demand, authorization, direction, notice, consent, waiver
      or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
      omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

   

  The Company may set any day as a record date for the purpose of
      determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken
      by Holders of Securities of such series, provided that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction
      referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or
      not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding
      Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the
      record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of
      Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders
      and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06. 

  

  
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  The Trustee may set any day as a record date for the purpose of
      determining the Holders of Outstanding Securities of any series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 5.02, (iii) any request to
      institute proceedings referred to in ‎Section 5.07(2) or (iv) any direction referred to in Section 5.12, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding
      Securities of such series on such record date, and no other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided that no such action
      shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent
      the Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no
      effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record
      date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of
      Securities of the relevant series in the manner set forth in Section 1.06.

   

  With respect to any record date set pursuant to this Section, the party
      hereto which sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no such change shall be effective unless notice of the
      proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 1.06, on or prior to the existing Expiration Date. If an Expiration Date is not
      designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect thereto,
      subject to its right to change the Expiration Date as provided in this paragraph.

   

  Without limiting the foregoing, a Holder entitled hereunder to take any
      action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all
      or any part of such principal amount.

  
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   Section 1.05        Notices, Etc., to
        Trustee and Company.

   

  Any request, demand, authorization, direction, notice, consent, waiver
      or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

   

  (1)          the Trustee by any Holder or by the Company shall
      be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office; or

   

  (2)          the Company by the Trustee or by any Holder shall
      be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of
      this instrument, Attention Secretary, or at any other address previously furnished in writing to the Trustee by the Company.

   

  The Trustee shall have the right to accept and act upon instructions,
      including funds transfer instructions (“Instructions”) given pursuant to this Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing
      officers with the authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or
      deleted from the listing. The Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an
      Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that
      the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for
      any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company
      agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by
      third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s)
      selected by the Company; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances;
      and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.

  
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   Section 1.06        Notice to Holders;
        Waiver.

   

  Where this Indenture provides for notice to Holders of any event, such
      notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his or her address as it appears in the Security Register, not later than
      the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so
      mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice,
      either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance
      upon such waiver.

   

  In case by reason of the suspension of regular mail service or by reason
      of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

   

  Notwithstanding any other provision of this Indenture or any Security,
      where this Indenture or any Security provides for notice of any event or any other communication (including any notice of redemption or repurchase) to a Holder of a Global Note (whether by mail or otherwise), such notice shall be sufficiently given
      if given to the Depositary (or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices at the Depositary.

   

   Section 1.07        Conflict with Trust
        Indenture Act.

   

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

   

   Section 1.08        Effect of Headings
        and Table of Contents.

   

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

   

  
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  Section 1.09        Successors and Assigns.

   

  All covenants and agreements in this Indenture by the Company shall bind
      its successors and assigns, whether so expressed or not.

   

   Section 1.10        Separability Clause.

   

  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 not in any way be affected or impaired thereby.

   

   Section 1.11        Benefits of Indenture.

   

  Nothing in this Indenture or in the Securities, express or implied,
      shall give to any Person, other than the parties hereto and their successors hereunder, the holders of Senior Indebtedness and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

   

   Section 1.12        Governing Law.

   

  This Indenture and the Securities shall be governed by and construed in
      accordance with the law of the State of New York.

   

   Section 1.13        Legal Holidays.

   

  In any case where any Interest Payment Date, Redemption Date or Stated
      Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such provision shall
      apply in lieu of this Section)) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect
      as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity; provided, however, that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as
      the case may be, to the date of such payment.

   

   Section 1.14        Submission to
        Jurisdiction.

   

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

   

  
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  Section 1.15        Waiver of Jury Trial.

   

  Each of the Company, the Holders and the Trustee hereby irrevocably
      waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Indenture, the Securities or the transaction contemplated hereby.

   

   Section 1.16        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, epidemics or pandemics, 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 1.17        Foreign Account Tax
        Compliance Act.

   

  The Company agrees (i) to provide the Trustee with such reasonable
      information as it has in its possession to enable the Trustee to determine whether any payments pursuant to this Indenture are subject to the withholding requirements described in Section 1471(b) of the US Internal Revenue Code of 1986 (the “Code”)

      or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations, or agreements thereunder or official interpretations thereof (“Applicable Law”), and (ii) that the Trustee shall be entitled to make any withholding
      or deduction from payments under this Indenture to the extent necessary to comply with Applicable Law, for which the Trustee shall not have any liability.

   

  Article II

      

      SECURITY FORMS

   

   Section 2.01        Forms Generally.

   

  The Securities of each series shall be in substantially the form set
      forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations
      as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or Depositary
      therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy
      of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication and
      delivery of such Securities. If all of the Securities of any series established by action taken pursuant to a Board Resolution are not to be issued at one time, it shall not be necessary to deliver a record of such action at the time of issuance of
      each Security of such series, but an appropriate record of such action shall be delivered at or before the time of issuance of the first Security of such series. 

  

  
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  The definitive Securities 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 such Securities, as evidenced by their execution of such Securities.

   

   Section 2.02        Form of Face of
        Security.

   

  [Insert any legend required by the Internal Revenue Code and the
        regulations thereunder.]

   

  Corebridge Financial, Inc.

   

  .............................................

   

  	No. .......	$......

   

  Corebridge Financial, Inc., a corporation duly organized and existing
      under the laws of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to ______________, or registered assigns, the principal sum of
      ______________________ Dollars on _____________________ [if the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from _____ or from the most recent Interest Payment Date to which interest has been paid or
      duly provided for, semi-annually on _____ and _____ in each year, commencing __________, at the rate of ____% per annum, until the principal hereof is paid or made available for payment [if applicable, insert — , provided that any
      principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of ____% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until
      they are paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
      whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the _____ or _____ (whether or not a Business Day), as the case may be, next
      preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one
      or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
      10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be
      required by such exchange, all as more fully provided in said Indenture]. 

  

  
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  [If the Security is not to bear interest prior to Maturity, insert
      — The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear
      interest at the rate of _____% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal or
      premium shall be payable on demand.]

   

  Payment of the principal of (and premium, if any) and [if applicable,
        insert — any such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in [the Borough of Manhattan, The City of New York], in such coin or currency of the United States of America as at the
      time of payment is legal tender for payment of public and private debts [if applicable, insert — ; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person
      entitled thereto as such address shall appear in the Security Register].

   

  Reference is hereby made to the further provisions of this Security set
      forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

   

  Unless the certificate of authentication hereon has been executed by the
      Trustee referred to on the reverse hereof by manual or electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

   

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

   

  Dated:

   

  		Corebridge Financial, Inc.
	 	 
	 	By	        

   

  Attest:

   

  

  
  
     

  

  
  

  
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   Section 2.03        Form of Reverse of
        Security.

   

  This Security is one of a duly authorized issue of securities of the
      Company (herein called the “Securities”), issued and to be issued in one or more series under a Subordinated Debt Securities Indenture, dated as of [●] (herein called the “Indenture”, which term shall have the meaning assigned to it in such
      instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective
      rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the holders of Senior Indebtedness and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and
      delivered. This Security is one of the series designated on the face hereof [if applicable, insert — ,[initially] limited in aggregate principal amount to $_____][, provided that the Company may, without the consent of any Holder, at any time
      and from time to time, increase the initial principal amount.]

   

  [If applicable, insert — The Securities of this series are
      subject to redemption upon not less than 10 days’ but not more than 60 days’ notice, [if applicable, insert — (1) on _____ in any year commencing with the year _____ and ending with the year _____ through operation of the sinking fund
      for this series at a Redemption Price equal to 100% of the principal amount, and (2)] at any time [if applicable, insert — on or after _____, ____], as a whole or in part, at the election of the Company, at the following Redemption Prices
      (expressed as percentages of the principal amount): If redeemed [if applicable, insert — on or before _____, ____%, and if redeemed] during the 12-month period beginning _____ of the years indicated,

   

  	Year	Redemption Price	Year	Redemption Price

   

  and thereafter at a Redemption Price equal to _____% of the principal amount, together in
      the case of any such redemption [if applicable, insert — (whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such
      Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 

  

  
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  [If applicable, insert — The Securities of this series are
      subject to redemption upon not less than 10 days’ but not more than 60 days’ notice, (1) on __________ in any year commencing with the year _____ and ending with the year _____ through operation of the sinking fund for this series at the
      Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [if applicable, insert — on or after __________], as a whole or
      in part, at the election of the Company, at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month
      period beginning __________ of the years indicated,

   

  	Year	Redemption Price For Redemption Through Operation Sinking Fund	Redemption Price For Redemption Otherwise Than Through Operation of the Sinking Fund

   

  and thereafter at a Redemption Price equal to _____% of the principal amount, together in
      the case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the
      Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

   

  [If applicable, insert — Notwithstanding the foregoing, the
      Company may not, prior to __________, redeem any Securities of this series as contemplated by [if applicable, insert — Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application,
      directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than _____% per annum.]

   

  [If applicable, insert — The sinking fund for this series
      provides for the redemption on _____ in each year beginning with the year _____ and ending with the year _____ of [if applicable, insert — not less than $_____ (“mandatory sinking fund”) and not more than] $_____ aggregate principal
      amount of Securities of this series. Securities of this series acquired or redeemed by the Company otherwise than through [if applicable, insert — mandatory] sinking fund payments may be credited against subsequent [if applicable, insert
      — mandatory] sinking fund payments otherwise required to be made [if applicable, insert — , in the inverse order in which they become due].]

   

  [If the Security is subject to redemption of any kind, insert —
      In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

  

  
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  [If applicable, insert — The Indenture contains provisions for
      defeasance at any time of [the entire indebtedness of this Security] [or] [certain restrictive covenants and Events of Default with respect to this Security] in each case] upon compliance with certain conditions set forth in the Indenture.]

   

  The indebtedness evidenced by this Security is, to the extent provided
      in the Indenture, subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by
      accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints
      the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of
      Senior Indebtedness, whether now outstanding or hereafter created, Incurred, assumed or guaranteed, and waives reliance by each such Holder upon said provisions.

   

  [If the Security is not an Original Issue Discount Security, insert
      — If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.]

   

  [If the Security is an Original Issue Discount Security, insert —
      If an Event of Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such
      amount shall be equal to — insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to
      the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.]

   

  The Indenture permits, with certain exceptions as therein provided, the
      amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the
      Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each
      series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such
      consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu
      hereof, whether or not notation of such consent or waiver is made upon this Security. 

  

  
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  As provided in and subject to the provisions of the Indenture, the
      Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
      written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the
      Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to the Trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of
      Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not
      apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

   

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

   

  As provided in the Indenture and subject to certain limitations therein
      set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on
      this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his or her attorney duly authorized in writing, and
      thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

   

  The Securities of this series are issuable only in registered form
      without coupons in denominations of $_____ and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of
      Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

  

  
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  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 tax or other governmental charge payable in connection therewith.

   

  Prior to due presentment of this Security for registration of transfer,
      the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee
      nor any such agent shall be affected by notice to the contrary.

   

  All terms used in this Security which are defined in the Indenture shall
      have the meanings assigned to them in the Indenture.

   

   Section 2.04        Form of Legend for
        Global Securities.

   

  Unless otherwise specified as contemplated by Section 3.01 for the
      Securities evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form:

   

  THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
      HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN
      THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

   

   Section 2.05        Form of Trustee’s
        Certificate of Authentication.

   

  The Trustee’s certificates 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.

   

  	Dated:	The Bank of New York Mellon_________

           As Trustee

  

   

  	 	By	           
	 		Authorized Signatory

  

  
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  Article III

      

      THE SECURITIES

   

   Section 3.01        Amount Unlimited;
        Issuable in Series.

   

  The aggregate principal amount of Securities which 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, subject to Section 3.03, set forth, or determined in the manner provided, in an Officers’ Certificate, 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 Securities of any other series);

   

  (2)          any limit upon the aggregate principal amount of
      the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant
      to Sections 3.04, 3.05, 3.06, 9.06, ‎11.07 or ‎12.03 and except for any Securities which, pursuant to Section 3.03, are deemed never to have been authenticated and delivered hereunder);

   

  (3)          the Person to whom any interest on a Security of
      the series shall be payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest;

   

  (4)          the date or dates on which the principal of any
      Securities of the series is payable;

   

  (5)          the rate or rates at which any Securities of the
      series shall bear interest, if any, the manner of calculation, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest
      payable on any Interest Payment Date;

   

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

   

  (7)          the period or periods within which, the price or
      prices at which and the terms and conditions upon which (including the notice period, if different from the notice period set forth in Section 11.04) any Securities of the series may be redeemed, in whole or in part, at the option of the Company and,
      if other than by a Board Resolution, the manner in which any election by the Company to redeem the Securities shall be evidenced; 

  

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

   

  (9)          if other than denominations of $2,000 and any
      integral multiple of $1,000 in excess thereof, the denominations in which any Securities of the series shall be issuable;

   

  (10)        if the amount of principal of or any premium or
      interest on any Securities of the series may be determined with reference to an index, a financial or economic measure or pursuant to a formula, the manner in which such amounts shall be determined;

   

  (11)        if other than the currency of the United States of
      America, the currency, currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of
      America for any purpose, including for purposes of the definition of “Outstanding” in Section 1.01;

   

  (12)        if the principal of or any premium or interest on
      any Securities of the series is to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies or
      currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made and the amount so
      payable (or the manner in which such amount shall be determined);

   

  (13)        if other than the entire principal amount thereof,
      the portion of the principal amount of any Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02;

   

  (14)        if the principal amount payable at the Stated
      Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder
      or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the
      manner in which such amount deemed to be the principal amount shall be determined); 

  

  
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  (15)        if other than by a Board Resolution, the manner in
      which any election by the Company to defease any Securities of the series pursuant to Section 13.02 or Section 13.03 shall be evidenced; whether any Securities of the series other than Securities denominated in U.S. dollars and bearing interest at a
      fixed rate are to be subject to Section 13.02 or Section 13.03; or, in the case of Securities denominated in U.S. dollars and bearing interest at a fixed rate, if applicable, that the Securities of the series, in whole or any specified part, shall
      not be defeasible pursuant to Section 13.02 or Section 13.03 or both such Sections;

   

  (16)        if applicable, that any Securities of the series
      shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in
      addition to or in lieu of that set forth in Section 2.04 and any circumstances in addition to or in lieu of those set forth in Clause ‎(2) of Section 3.05 in which any such Global Security may be exchanged in whole or in part for Securities
      registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof;

   

  (17)        any addition to or change in the Events of Default
      which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to ‎Section 5.02;

   

  (18)        any addition to, deletion from or change in the
      covenants set forth in ‎Article X which applies to Securities of the series;

   

  (19)        any other terms of the series (which terms shall
      not be inconsistent with the provisions of this Indenture, except as permitted by ‎Section 9.01(5));

   

  (20)        provisions granting special rights to Holders of
      the series upon the occurrence of specific events; 

  

  
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  (21)        whether the Securities of the series will be
      convertible or exchangeable into shares of common stock or other securities or property of the Company and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the conversion or exchange price
      or method of determining the conversion or exchange price and the conversion or exchange period;

   

  (22)        any special tax implications of the Securities of
      the series, including any provisions for Original Issue Discount Securities, if offered;

   

  (23)        any change in the right of the Trustee or the
      requisite Holders to declare the principal amount thereof due and payable pursuant to ‎Section 5.01;

   

  (24)        any trustees, authenticating or Paying Agents,
      transfer agents or registrars, calculation agents or other agents with respect to the Securities of the series; and

   

  (25)        any restrictions on the registration, transfer or
      exchange of the Securities of the series.

   

  All Securities of any one series shall be substantially identical except
      as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to ‎Section 3.03) set forth, or determined in the manner provided, in the Officers’ Certificate referred to above or in
      any such indenture supplemental hereto. All Securities of any one series need not be issued at one time and, unless otherwise provided in or pursuant to the Board Resolution referred to above and (subject to ‎Section 3.03) set forth, or determined in
      the manner provided, in the Officers’ Certificate referred to above or in any such indenture supplemental hereto with respect to a series of Securities, additional Securities of a series may be issued, at the option of the Company, without the
      consent of any Holder, at any time and from time to time. All Securities shall be issued under a separate CUSIP or ISIN number unless the additional Securities are issued pursuant to a “qualified reopening” of the original series, are otherwise
      treated as part of the same “issue” of debt instruments as the original series or are issued with no more than a de minimis amount of original issue discount, in each case for U.S. federal income tax purposes.

   

  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 such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting
      forth the terms of the series.

   

   Section 3.02        Denominations.

   

  The Securities of each series shall be issuable only in registered form
      without coupons and only in such denominations as shall be specified as contemplated by ‎Section 3.01. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in
      denominations of $2,000 and any integral multiples of $1,000 in excess thereof.

  
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   Section 3.03        Execution,
        Authentication, Delivery and Dating.

   

  The Securities shall be executed on behalf of the Company by its Chief
      Executive Officer, the President, any Executive Vice President or Senior Vice President or one of its Vice Presidents or its Treasurer or one of its Assistant Treasurers or its Secretary or one of its Assistant Secretaries. The signature of any of
      these officers on the Securities may be manual, facsimile or electronic.

   

  Securities bearing the manual, facsimile or electronic signatures of
      individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not
      hold such offices at the date of such Securities.

   

  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, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the
      Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or pursuant to one or more Board Resolutions as permitted by ‎Sections 2.01 and ‎3.01, in authenticating such
      Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to ‎Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel
      stating,

   

  (1)           if the form of such Securities has been
      established by or pursuant to Board Resolution as permitted by ‎Section 2.01, that such form has been established in conformity with the provisions of this Indenture;

   

  (2)           if the terms of such Securities have been
      established by or pursuant to Board Resolution as permitted by ‎Section 3.01, that such terms have been established in conformity with the provisions of this Indenture; and

   

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

  

  
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  If such form or terms have been so established, the Trustee shall not be
      required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably
      acceptable to the Trustee.

   

  Notwithstanding the provisions of ‎Section 3.01 and of the preceding
      paragraph, if all Securities of a series are not to be originally issued at one time, including in the event that the size of a series of Outstanding Securities is increased as contemplated by ‎Section 3.01, it shall not be necessary to deliver the
      Officers’ Certificate otherwise required pursuant to ‎Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the authentication of each Security of such series if such documents
      are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued.

   

  Each Security shall be dated the date of its authentication.

   

  No Security shall be entitled to any benefit under this Indenture or be
      valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual or electronic signature, and such certificate upon any Security
      shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and
      sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in ‎Section 3.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder
      and shall never be entitled to the benefits of this Indenture.

   

   Section 3.04        Temporary Securities.

   

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

   

  If temporary Securities of any series are issued, the Company will cause
      definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon
      surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series,
      the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged,
      the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor.

  
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   Section 3.05        Registration,
        Registration of Transfer and Exchange.

   

  The Company shall cause to be kept at the Corporate Trust Office of the
      Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable
      regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities
      as herein provided.

   

  Upon surrender for registration of transfer of any Security of a series
      at the office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same
      series, of any authorized denominations and of like tenor and aggregate principal amount.

   

  At the option of the Holder, Securities of any series may be exchanged
      for other Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for
      exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive.

   

  All Securities issued upon any registration of transfer or exchange of
      Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

   

  Every Security presented or surrendered for registration of transfer or
      for exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his or
      her attorney duly authorized in writing. 

  

  
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  No service charge shall be made for any registration of transfer or
      exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant
      to ‎Sections 3.04, ‎9.06, ‎11.07 or ‎12.03 not involving any transfer.

   

  If the Securities of any series (or of any series and specified tenor)
      are to be redeemed in part, the Company shall not be required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening
      of business 15 days before the day of the giving of a notice of redemption of any such Securities selected for redemption under ‎Section 11.03 and ending at the close of business on the day such notice was given, or (B) to register the
      transfer of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part.

   

  The provisions of Clauses ‎(1), ‎(2), ‎(3) and ‎(4) below shall apply
      only to Global Securities:

   

  (1)           Each Global Security authenticated under this
      Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single
      Security for all purposes of this Indenture.

   

  (2)           Notwithstanding any other provision in this
      Indenture, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary for such Global Security or
      a nominee thereof unless (A) such Depositary has notified the Company that it is unwilling or unable or no longer permitted under applicable law to continue as Depositary for such Global Security, (B) there shall have occurred and be
      continuing an Event of Default with respect to such Global Security, (C) the Company so directs the Trustee by a Company Order or (D) there shall exist such circumstances, if any, in addition to or in lieu of the foregoing as have been
      specified for this purpose as contemplated by ‎Section 3.01.

   

  (3)           Subject to Clause ‎(2) above, any exchange of a
      Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof shall be registered in such names as the Depositary for such Global Security shall direct.

   

  (4)           Every Security authenticated and delivered upon
      registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, ‎Sections 3.04, ‎3.06, ‎9.06, ‎11.07 or ‎12.03 or otherwise, shall be authenticated and delivered in the form
      of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

  

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

   

  The Trustee, Security Registrar and any Paying Agent shall have no
      responsibility for any actions taken or not taken by the Depositary.

   

   Section 3.06        Mutilated, Destroyed,
        Lost and Stolen Securities.

   

  If any mutilated Security is surrendered to the Trustee, the Company
      shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

   

  If there shall be delivered to the Company and the Trustee (i) evidence

      to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company
      or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and of
      like tenor and principal amount and bearing a number not contemporaneously outstanding.

   

  In case 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 such Security.

   

  Upon the issuance of any new Security under this Section, the Company
      may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

   

  Every new Security of any series issued pursuant to this Section in lieu
      of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall
      be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder. 

  

  
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  The provisions of this Section are exclusive and shall preclude (to the
      extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

   

   Section 3.07        Payment of Interest;
        Interest Rights Preserved.

   

  Except as otherwise provided as contemplated by ‎Section 3.01 with
      respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities)
      is registered at the close of business on the Regular Record Date for such interest.

   

  Any interest on any Security of any series which is payable, but is not
      punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such
      Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause ‎(1) or ‎(2) below:

   

  (1)          The Company may elect to make payment of any
      Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be
      fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall
      deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment,
      such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall
      be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such
      Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner
      set forth in ‎Section 1.06, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the
      Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause ‎(2). 

  

  
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  (2)           The Company may make payment of any Defaulted
      Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice
      given by the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee.

   

  Subject to the foregoing provisions of this Section, each Security
      delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

   

   Section 3.08        Persons Deemed Owners.

   

  Prior to due presentment of a Security for registration of transfer, the
      Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to
      ‎Section 3.07) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

   

   Section 3.09        Cancellation.

   

  All Securities surrendered for payment, redemption, registration of
      transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for
      cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any
      Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities
      cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of in accordance with its customary procedures.

   

   Section 3.10        Computation of
        Interest.

   

  Except as otherwise specified as contemplated by ‎Section 3.01 for
      Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

   

  
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  Section 3.11        CUSIP Numbers.

   

  The Company in issuing any series of the Securities may use CUSIP
      numbers, if then generally in use, and thereafter with respect to such series, the Trustee may use such numbers in any notice of redemption with respect to such series, 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 of that series 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 of that series, 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.

   

   Section 3.12        Original Issue
        Discount.

   

  If any of the Securities is an Original Issue Discount Security, the
      Company shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on such Outstanding Original Issue Discount
      Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time.

   

  Article IV

      

      SATISFACTION AND DISCHARGE

   

   Section 4.01        Satisfaction and
        Discharge of Indenture.

   

  This Indenture shall upon Company Request cease to be of further effect
      with respect to any series of Securities (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper
      instruments acknowledging satisfaction and discharge of this Indenture as to such series, when

   

  (1)          either

   

  (A)         all Securities of such series theretofore
      authenticated and delivered (other than (i) Securities of such series which have been mutilated, destroyed, lost or stolen and which have been replaced or paid as provided in ‎Section 3.06 and (ii) Securities for whose payment money has
      theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in ‎Section 10.03) have been delivered to the Trustee for cancellation; or 

  

  
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  (B)          all such Securities 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 the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to
      be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any
      premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;

   

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

   

  (3)          the Company has delivered to the Trustee an
      Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with.

   

  Notwithstanding the satisfaction and discharge of this Indenture, the
      obligations of the Company to the Trustee under ‎Section 6.07 and, if money shall have been deposited with the Trustee pursuant to subclause ‎(B) of Clause ‎(1) of this Section, the obligations of the Trustee under ‎Section 4.02 and the last
      paragraph of ‎Section 10.03 shall survive.

   

   Section 4.02        Application of Trust
        Money.

   

  Subject to the provisions of the last paragraph of ‎Section 10.03, all
      money deposited with the Trustee pursuant to ‎Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the
      Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the Trustee. Money so held in trust under this
      ‎Article IV shall not be subject to the provisions of ‎Article XIV, provided the applicable conditions of ‎Section 4.01 have been satisfied. 

  

  
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  Article V

      

      REMEDIES

   

   Section 5.01        Events of Default.

   

  “Event of Default”, wherever used herein with respect to
      Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be occasioned by the provisions of ‎Article XIV, or be voluntary or involuntary or be effected by operation of law or
      pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

   

  (1)          default in the payment of any interest upon any
      Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; or

   

  (2)          default in the payment of the principal of or any
      premium on any Security of that series at its Maturity, and continuance of such default for a period of five days; or

   

  (3)          default in the deposit of any sinking fund
      payment, when and as due by the terms of a Security of that series, and the continuance of such default for a period of five days; or

   

  (4)          default in the performance, or breach, of any
      covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely
      for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the
      Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default”
      hereunder; or 

  

  
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  (5)          the entry by a court having jurisdiction in the
      premises of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order
      adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a
      custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or
      order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or

   

  (6)          the commencement by the Company of a voluntary
      case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated bankrupt or insolvent, or the consent by it to the entry of a decree or order
      for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding
      against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a
      custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing
      of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or

   

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

   

   Section 5.02        Acceleration of
        Maturity; Rescission and Annulment.

   

  If an Event of Default with respect to Securities of any series at the
      time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities of that series
      (or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof) to be due and payable immediately, by a notice in writing to the Company
      (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. 

  

  
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  At any time after such a declaration of acceleration with respect to
      Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities
      of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if:

   

  (1)          the Company has paid or deposited with the
      Trustee a sum sufficient to pay

   

  (A)         all overdue interest on all Securities of that
      series,

   

  (B)          the principal of (and premium, if any, on) any
      Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities,

   

  (C)          to the extent that payment of such interest is
      lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and

   

  (D)          all sums paid or advanced by the Trustee hereunder
      and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel;

   

  and

   

  (2)           all Events of Default with respect to Securities
      of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in ‎Section 5.13.

   

  No such rescission shall affect any subsequent default or impair any
      right consequent thereon.

   

   Section 5.03        Collection of
        Indebtedness and Suits for Enforcement by Trustee.

   

  The Company covenants that if:

   

  (1)           default is made in the payment of any interest
      on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 

  

  
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  (2)           default is made in the payment of the principal
      of (or premium, if any, on) any Security at the Maturity thereof and such default continues for a period of five days,

   

  the Company will, upon demand of the Trustee, pay to it, for the benefit
      of the Holders of such Securities, the whole amount then due and payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal
      and premium and on any overdue interest, at the rate or rates prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
      compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

   

  If an Event of Default with respect to Securities of any series occurs
      and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and
      enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy.

   

   Section 5.04        Trustee May File
        Proofs of Claim.

   

  In case of any judicial proceeding relative to the Company (or any other
      obligor upon the Securities), its property or its creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of
      the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian,
      receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of
      such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under ‎Section 6.07.

   

  No provision of this Indenture 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; provided,  however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar
      committee.

  
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   Section 5.05        Trustee May Enforce
        Claims Without Possession of Securities.

   

  All rights of action and claims under this Indenture or the Securities
      may be prosecuted and enforced by the Trustee without the possession of any of the Securities 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 of the
      Securities in respect of which such judgment has been recovered.

   

   Section 5.06        Application of Money
        Collected.

   

  Any money collected by the Trustee pursuant to this Article shall be
      applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment
      if only partially paid and upon surrender thereof if fully paid:

   

  FIRST: To the payment of all amounts due the Trustee under
      ‎Section 6.07; and

   

  SECOND: Subject to ‎Article XIV, to the payment of the amounts
      then due and unpaid for principal of and any premium and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and
      payable on such Securities for principal and any premium and interest, respectively.

   

   Section 5.07        Limitation on Suits.

   

  No Holder of any Security of any series shall have any right to
      institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

   

  (1)          such Holder has previously given written notice
      to the Trustee of a continuing Event of Default with respect to the Securities of that series;

   

  (2)          the Holders of not less than 25% in principal
      amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

  

  
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  (3)          such Holder or Holders have offered to the
      Trustee indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request;

   

  (4)          the Trustee for 60 days after its receipt of such
      notice, request and offer of indemnity has failed to institute any such proceeding; and

   

  (5)          no direction inconsistent with such written
      request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series;

   

  it being understood and intended that no one or more of such Holders shall have any right in
      any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders (it being understood that the Trustee does not have an affirmative duty to ascertain whether
      or not such actions or forbearances are unduly prejudicial to such Holders), or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided
      and for the equal and ratable benefit of all of such Holders.

   

   Section 5.08        Unconditional Right
        of Holders to Receive Principal, Premium and Interest.

   

  Notwithstanding any other provision in this Indenture, the Holder of any
      Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and any premium and (subject to ‎Section 3.07) interest on such Security on the respective Stated Maturities expressed in such Security (or, in
      the case of redemption or repayment, on the Redemption Date or date for repayment, as the case may be) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

   

   Section 5.09        Restoration of Rights
        and Remedies.

   

  If the Trustee or any Holder has instituted any proceeding to enforce
      any right or remedy under this 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 5.10        Rights and Remedies
        Cumulative.

   

  Except as otherwise provided with respect to the replacement or payment
      of mutilated, destroyed, lost or stolen Securities in the last paragraph of ‎Section 3.06, 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 5.11        Delay or Omission Not
        Waiver.

   

  No delay or omission of the Trustee or of any Holder of any Securities
      to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the
      Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

   

   Section 5.12        Control by Holders.

   

  The Holders of a majority in principal amount of the Outstanding
      Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such
      series, provided that

   

  (1)          such direction shall not be in conflict with any
      rule of law or with this Indenture, and

   

  (2)          the Trustee may take any other action deemed
      proper by the Trustee which is not inconsistent with such direction.

   

   Section 5.13        Waiver of Past
        Defaults.

   

  The Holders of not less than a majority in principal amount of the
      Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default

   

  (1)          in the payment of the principal of or any premium
      or interest on any Security of such series, or

   

  (2)          in respect of a covenant or provision hereof
      which under ‎Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 

  

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

   

   Section 5.14        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, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess reasonable costs
      against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to
      make such an assessment in any suit instituted by the Company. This ‎Section 5.14 does not apply to a suit by the Trustee, a suit by a Holder pursuant to ‎Section 5.08, hereof, or a suit by Holders of more than 10% in principal amount of the then
      Outstanding Securities.

   

   Section 5.15        Waiver of Usury, Stay
        or Extension Laws.

   

  The Company covenants (to the extent that it may lawfully do so) that it
      will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
      performance of this Indenture; and 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 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.

   

  Article VI

      

      THE TRUSTEE

   

   Section 6.01        Certain Duties and
        Responsibilities.

   

  (1)          Except during the continuance of an Event of
      Default:

   

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

   

  (B)          in the absence of bad faith on its part, the
      Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of
      any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this
      Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). 

  

  
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  (2)          In case an Event of Default has occurred and is
      continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his
      or her own affairs.

   

  (3)          No provision of this Indenture shall be construed
      to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:

   

  (A)         this Subsection shall not be construed to limit the
      effect of Subsection ‎(1) of this Section;

   

  (B)          the Trustee shall not be liable for any error of
      judgement made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts;

   

  (C)          the Trustee shall not be liable with respect to any
      action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any series, determined as provided in Sections ‎1.01, ‎1.04 and ‎5.12, relating
      to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series; and

   

  (D)          no provision of this Indenture shall require the
      Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment
      of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

  

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

   

   Section 6.02        Notice of Defaults.

   

  If a default occurs hereunder with respect to Securities of any series,
      the Trustee shall give the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in ‎Section 5.01(4)
      with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or
      both would become, an Event of Default with respect to Securities of such series.

   

   Section 6.03        Certain Rights of
        Trustee.

   

  Subject to the provisions of ‎Section 6.01:

   

  (1)          the Trustee may conclusively rely and shall be
      protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document
      believed by it to be genuine and to have been signed or presented by the proper party or parties;

   

  (2)          any request or direction of the Company mentioned
      herein shall be sufficiently evidenced by a Company Request or Company Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution;

   

  (3)          whenever in the administration of this Indenture
      the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its
      part, conclusively rely upon an Officers’ Certificate;

   

  (4)          the Trustee may consult with counsel and the
      advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

   

  (5)          the Trustee shall be under no obligation to
      exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to
      it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

  

  
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  (6)          the Trustee shall not be bound to make any
      investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but
      the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books,
      records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

   

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

   

  (8)          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;

   

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

   

  (10)        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;

   

  (11)        the Trustee shall not be deemed to have notice of
      any Default or Event of Default unless written notice of any event which is in fact such a default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this
      Indenture; and

   

  (12)        the Trustee may request that the Company deliver a
      certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture.

  
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   Section 6.04        Not Responsible for
        Recitals or Issuance of Securities.

   

  The recitals contained herein and in the Securities, except the
      Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of
      the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof.

   

   Section 6.05        May Hold Securities.

   

  The Trustee, any Paying Agent, any Security Registrar or any other agent
      of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections ‎6.08 and ‎6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying
      Agent, Security Registrar or such other agent.

   

   Section 6.06        Money Held in Trust.

   

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

   

   Section 6.07        Compensation and
        Reimbursement.

   

  The Company agrees

   

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

   

  (2)           except as otherwise expressly provided herein,
      to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses
      and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and

   

  (3)           to indemnify each of the Trustee and its agents
      for, and to hold them harmless against, any and all loss, damage, claims, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee), arising out of or in connection with the acceptance
      or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance
      of any of its powers or duties hereunder, or in connection with enforcing the provisions of this Section, except to the extent that such loss, damage, claim, liability or expense is due to its own negligence or bad faith. 

  

  
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  The Trustee shall have a lien prior to the Securities as to all property
      and funds held by it hereunder for any amount owing it pursuant to this ‎Section 6.07, except with respect to funds held in trust for the benefit of the Holders of particular Securities.

   

  When the Trustee incurs expenses or renders services in connection with
      an Event of Default specified in ‎Section 5.01(5) or ‎Section 5.01(6), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any
      applicable federal or state bankruptcy, insolvency or other similar law.

   

  The provisions of this Section shall survive the termination of this
      Indenture and the resignation or removal of the Trustee.

   

   Section 6.08        Conflicting Interests.

   

  If the Trustee has or shall acquire a conflicting interest within the
      meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture.

   

   Section 6.09        Corporate Trustee
        Required; Eligibility.

   

  There shall at all times be one (and only one) Trustee hereunder with
      respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and (a) has a combined capital and
      surplus of at least $50,000,000 or (b) is a wholly-owned subsidiary of a bank holding company having a consolidated capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or
      to the requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital
      and surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign
      immediately in the manner and with the effect hereinafter specified in this Article. The Trustee shall comply with Section 310(b) of the Trust Indenture Act; provided, however, that there shall be excluded from the operation of
      Section 310(b)(1) of the Trust Indenture Act any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in
      Section 310(b)(1) of the Trust Indenture Act are met. 

   

  
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  Section 6.10        Resignation and
        Removal; Appointment of Successor.

   

  No resignation or removal of the Trustee and no appointment of a
      successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of ‎Section 6.11.

   

  The Trustee may resign at any time with respect to the Securities of one
      or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by ‎Section 6.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of
      resignation, the resigning Trustee, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

   

  The Trustee may be removed at any time with respect to the Securities of any series by Act
      of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by ‎Section 6.11 shall not have been delivered
      to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed, at the expense of the Company, may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the
      Securities of such series.

   

  If at any time:

   

  (1)          the Trustee shall fail to comply with ‎Section
      6.08 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or

   

  (2)          the Trustee shall cease to be eligible under
      ‎Section 6.09 and shall fail to resign after written request therefor by the Company or by any such Holder, or

   

  (3)          the Trustee shall become incapable of acting or
      shall be adjudged bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation
      or liquidation, 

  

  
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  then, in any such case, (A) the Company by a Board Resolution may remove the Trustee
      with respect to all Securities, or (B) subject to ‎Section 5.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
      jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

   

  If the Trustee shall resign, be removed or become incapable of acting,
      or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, 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 such series and that at any time there shall be only one Trustee with respect to the Securities of any
      particular series) and shall comply with the applicable requirements of ‎Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any
      series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
      of such appointment in accordance with the applicable requirements of ‎Section 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no
      successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by ‎Section 6.11, any Holder who has been a bona fide Holder of a Security of
      such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

   

  The Company shall give notice of each resignation and each removal of
      the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in ‎Section 1.06. Each notice shall
      include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

   

   Section 6.11        Acceptance of
        Appointment by Successor.

   

  In case of the appointment hereunder of a successor Trustee with respect
      to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee
      shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee,
      such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor
      Trustee all property and money held by, such retiring Trustee hereunder. 

  

  
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  In case of the appointment hereunder of a successor Trustee with respect
      to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
      Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring
      Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be
      deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the
      retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
      herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any
      other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act,
      deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the
      Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
      the appointment of such successor Trustee relates.

   

  Upon request of any such successor Trustee, the Company shall execute
      any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be.

   

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

   

   Section 6.12        Merger, Conversion,
        Consolidation or Succession to Business.

   

  Any corporation into which the Trustee may be merged or converted or
      with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee,
      shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case
      any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion, consolidation or sale to such authenticating Trustee may adopt such authentication and deliver the Securities so
      authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.

  
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   Section 6.13        Preferential
        Collection of Claims Against Company.

   

  If and when the Trustee shall be or become a creditor of the Company (or
      any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor).

   

  Article VII

      

      HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

   

   Section 7.01        Company to Furnish
        Trustee Names and Addresses of Holders.

   

  The Company will furnish or cause to be furnished to the Trustee and the
      Security Registrar:

   

  (1)          on a semi-annual basis not more than 15 days
      after each Regular Record Date, a list, in such form as the Trustee or the Security Registrar may reasonably require, of the names and addresses of the Holders of Securities as of such Regular Record Date; provided that the Company shall not
      be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee and the Security Registrar by the Company; and

   

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

   

  provided, however that, in either case, no such list need
      be furnished for any series for which the Trustee shall be the Security Registrar. 

   

  
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  Section 7.02        Preservation of
        Information; Communications to Holders.

   

  The Trustee shall preserve, in as current a form as is reasonably
      practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in ‎Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee
      may destroy any list furnished to it as provided in ‎Section 7.01 upon receipt of a new list so furnished.

   

  The rights of Holders to communicate with other Holders with respect to
      their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act.

   

  Every Holder of Securities, by receiving and holding the same, agrees
      with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture
      Act.

   

   Section 7.03        Reports by Trustee.

   

  The Trustee shall transmit to Holders such reports concerning the
      Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days
      after each May 15 following the date of the initial issuance of Securities under this Indenture deliver to Holders a brief report, dated as of such May 15, which complies with the provisions of such Section 313(a).

   

  A copy of each such report shall, at the time of such transmission to
      Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange and of any delisting
      thereof.

   

   Section 7.04        Reports by Company.

   

  The Company shall file with the Trustee and the Commission, and transmit
      to Holders, such information, documents and other reports as may be required by the Trust Indenture Act.

   

  Delivery of such reports, information and documents to the Trustee is
      for informational purposes only and shall not constitute a representation or warranty as to the accuracy or completeness of the reports, information or documents. The Trustee’s receipt of such shall not constitute actual or constructive notice or
      knowledge of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to conclusively rely exclusively on
      Officers’ Certificates). 

  

  
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  Article VIII

      

      CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE

   

   Section 8.01        Company May
        Consolidate, Etc., Only on Certain Terms.

   

  Except in relation to the direct or indirect conveyance or transfer of
      all or any portion of the capital stock, assets or liabilities of any of the Company’s direct or indirect wholly-owned subsidiaries to the Company or any of the Company’s wholly-owned subsidiaries or the consolidation or merger of any of the
      Company’s direct or indirect wholly-owned subsidiaries with and into the Company, the Company shall not consolidate with or merge into any other Person or sell, convey, lease or otherwise transfer all or substantially all of its assets to any Person,
      unless:

   

  (1)           in case the Company shall consolidate with or
      merge into another Person or sell, convey, lease or otherwise transfer all or substantially all of its assets to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or
      transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation, limited liability company, partnership or trust, shall be organized and validly existing under the laws of the United States of
      America, any State thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and
      any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of the Company to be performed or observed;

   

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

   

  (3)           the Company has delivered to the Trustee an
      Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with
      this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

   

  
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  Section 8.02        Successor Substituted.

   

  Upon any consolidation of the Company with, or merger of the Company
      into, any other Person or any sale conveyance, lease or other transfer of all or substantially all of the assets of the Company in accordance with ‎Section 8.01, the successor Person formed by such consolidation or into which the Company is merged or
      to which such sale, conveyance, lease or other transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as
      the Company herein, and thereafter, except in the case of a lease, the predecessor Person shall not be relieved of all obligations and covenants under this Indenture and the Securities.

   

  Article IX

      

      SUPPLEMENTAL INDENTURES

   

   Section 9.01        Supplemental
        Indentures Without Consent of Holders.

   

  Without the consent of any Holders, 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 satisfactory to the Trustee, for any of the following purposes:

   

  (1)          to evidence the succession of another Person to
      the Company and the assumption by any such successor of the covenants of the Company herein and in the Securities; or

   

  (2)          to add to the covenants of the Company for the
      benefit of some or all of the Holders of all or any series of Securities or of particular Securities within a series as may be specified in the Board Resolutions (and if such covenants are to be for the benefit of less than all series of Securities,
      stating that such covenants are expressly being included solely for the benefit of such series or such particular Securities) or to surrender any right or power herein conferred upon the Company; or

   

  (3)          to add any additional Events of Default for the
      benefit of some or all of the Holders of all or any series of Securities or of particular Securities within a series as may be specified in the Board Resolutions (and if such additional Events of Default are to be for the benefit of less than all
      series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series or such particular Securities); or

   

  (4)          to add to or change any of the provisions of this
      Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of
      Securities in uncertificated form; or 

  

  
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  (5)          to add to, change or eliminate any of the
      provisions of this Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental
      indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no Security described in clause ‎(i) Outstanding; or

   

  (6)          to secure the Securities; or

   

  (7)          to establish the form or terms of Securities of
      any series as permitted by ‎Sections 2.01 and ‎3.01; or

   

  (8)          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 6.11; or

   

  (9)          to cure any ambiguity, to correct or supplement
      any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause
      ‎(8) shall not adversely affect the interests of the Holders of Securities of any series in any material respect.

   

   Section 9.02        Supplemental
        Indentures With Consent of Holders.

   

  With the consent of the Holders of not less than a majority in principal
      amount of the Outstanding Securities of each series affected by such supplemental indenture, 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 or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such
      series under this Indenture; provided, however, that if the Board Resolutions and supplemental indenture shall expressly provide that any provisions to be changed or eliminated shall apply to fewer than all the Outstanding Securities
      hereunder or under a particular series under this Indenture, then, to the extent not inconsistent with the Trust Indenture Act, any such consent may be given by Holders of not less than a majority in principal amount of the Outstanding Securities
      hereunder or under such series to which such change or elimination shall apply; provided, further, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby (whether or not such
      affected Securities comprise all Securities under this Indenture or under a particular series), 

  

  
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  (1)           change the Stated Maturity of the principal of,
      or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue
      Discount Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to ‎Section 5.02, or change any Place of Payment where, or the coin or currency in which, any Security or any
      premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date); or

   

  (2)           reduce the percentage in principal amount of the
      Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain
      defaults hereunder and their consequences) provided for in this Indenture; or

   

  (3)           modify any of the provisions of this Section,
      ‎Section 5.13 or ‎Section 10.08, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby.

   

  A supplemental indenture which changes or eliminates any covenant or
      other provision of this Indenture which has expressly been included solely for the benefit of one or more identified series of Securities or particular Securities within an identified series of Securities, or which modifies the rights of the Holders
      of Securities of such series, or Holder of particular Securities within a series with respect to such covenant or other provision, shall be deemed to affect only the rights under this Indenture of the Holders of Securities of the identified series or
      of particular Securities within the identified series, and shall be deemed not to affect the rights under this Indenture of the Holders of any other Securities.

   

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

  

  
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  After a supplemental indenture under this ‎Section 9.02 becomes
      effective, the Company shall give to the Trustee a notice briefly describing such supplemental indenture or a copy of such supplemental indenture and the Trustee shall give such notice or supplemental indenture to Holders affected thereby. Any
      failure of the Company to give such notice, or any defect therein, or any failure of the Company to give such supplemental indenture, shall not in any way impair or affect the validity of any such supplemental indenture.

   

   Section 9.03        Execution of
        Supplemental Indentures.

   

  In executing, or accepting the additional trusts created by, any
      supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to ‎Section 6.01) shall be fully protected in relying upon, an Officers’
      Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the
      Trustee’s own rights, duties or immunities under this Indenture or otherwise.

   

   Section 9.04        Effect of
        Supplemental Indentures.

   

  Upon the execution of any supplemental indenture under this Article,
      this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be
      bound thereby.

   

   Section 9.05        Conformity with Trust
        Indenture Act.

   

  Every supplemental indenture executed pursuant to this Article shall
      conform to the requirements of the Trust Indenture Act.

   

   Section 9.06        Reference in
        Securities to Supplemental Indentures.

   

  Securities of any series authenticated and delivered after the execution
      of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new
      Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for
      Outstanding Securities of such series. 

  

  
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  Article X

      

      COVENANTS

   

   Section 10.01    Payment of Principal,
        Premium and Interest.

   

  The Company covenants and agrees for the benefit of each series of
      Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

   

   Section 10.02    Maintenance of Office or
        Agency.

   

  The Company will maintain in each Place of Payment for any series of
      Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the
      Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company
      shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the
      Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

   

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

   

   Section 10.03    Money for Securities
        Payments to Be Held in Trust.

   

  If the Company shall at any time act as its own Paying Agent with
      respect to any series of Securities, it will, on or before each due date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
      sufficient to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee in writing of its action or failure so to
      act. 

  

  
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  Whenever the Company shall have one or more Paying Agents for any series
      of Securities, it will, prior to each due date of the principal of or any premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture
      Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of its action or failure so to act.

   

  The Company will cause each Paying Agent for any series of Securities
      other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will

   

  (1)           comply with the provisions of the Trust
      Indenture Act applicable to it as a Paying Agent and

   

  (2)           during the continuance of any default by the
      Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying
      Agent for payment in respect of the Securities of that series.

   

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

   

  Any money deposited with the Trustee or any Paying Agent, or then held
      by the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the
      Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of
      the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such
      repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in the Borough of Manhattan, The City of New York, notice
      that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company.

  
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   Section 10.04    Statement by Officers as
        to Default.

   

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

   

   Section 10.05    Existence.

   

  Subject to ‎Article VIII, the Company will do or cause to be done all
      things necessary to preserve and keep in full force and effect its corporate existence.

   

  (1)                

   

   Section 10.06    Waiver of Certain
        Covenants.

   

  Except as otherwise specified as contemplated by ‎Section 3.01 for
      Securities of such series, the Company may, with respect to the Securities of any series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to ‎Sections 3.01(18), ‎9.01(2) or
      ‎9.01(7) for the benefit of the Holders of such series or in ‎Section 10.05, if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders,
      either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until
      such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

   

  Article XI

      

      REDEMPTION OF SECURITIES

   

   Section 11.01    Applicability of Article.

   

  Securities of any series which are redeemable before their Stated
      Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by ‎Section 3.01 for such Securities) in accordance with this Article.

  
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   Section 11.02    Election to Redeem;
        Notice to Trustee.

   

  The election of the Company to redeem any Securities shall be evidenced
      by a Board. Resolution or in another manner specified as contemplated by ‎Section 3.01 for such Securities. In case of any redemption at the election of the Company of the Securities of any series (including any such redemption affecting only a
      single Security), the Company shall, at least 10 days but not more than 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the
      principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities (A) prior to the expiration of any restriction on such redemption provided in
      the terms of such Securities or elsewhere in this Indenture or (B) pursuant to an election of the Company that is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
      with an Officers’ Certificate evidencing compliance with such restriction.

   

   Section 11.03    Selection of Securities
        to Be Redeemed.

   

  If less than all the Securities of any series represented by one or more
      Global Securities are to be redeemed, the particular Securities to be redeemed shall be selected in accordance with the procedures of the Depositary from the Outstanding Securities of such series not previously called for redemption; provided that
      the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a
      specified tenor not represented by one or more Global Securities 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 such
      series and specified tenor not represented by a Global Security and not previously called for redemption in accordance with the preceding sentence.

   

  With respect to Securities not represented by one or more Global
      Securities, the Trustee shall promptly notify the Company in writing of the Securities selected for redemption as aforesaid and, in case of any such Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed.

   

  In the case of any such redemption in part, the unredeemed portion of
      the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security.

   

  For all purposes of this Indenture, unless the context otherwise
      requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed.

  
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   Section 11.04    Notice of Redemption.

   

  Unless otherwise specified as contemplated by ‎Section 3.01, notice of
      redemption shall be given by first-class mail, postage prepaid, mailed not less than five Business Days nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at his or her address appearing in the Security
      Register; provided, that with respect to Securities issued in the form of one or more Global Securities, notice of redemption shall be given in accordance with the procedures of the Depositary.

   

  All notices of redemption shall state:

   

  (1)          the Redemption Date;

   

  (2)          the Redemption Price;

   

  (3)          if less than all the Outstanding Securities of
      any series are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series not
      represented by one or more Global Securities are to be redeemed, the principal amount of the particular Security to be redeemed;

   

  (4)          that on the Redemption Date the Redemption Price
      will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date;

   

  (5)          the place or places where each such Security is
      to be surrendered for payment of the Redemption Price;

   

  (6)          that the redemption is for a sinking fund, if
      such is the case; and

   

  (7)          if applicable, the CUSIP numbers of the
      Securities of that series.

   

  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 request, by the Trustee in the name and at the expense of the Company and, unless otherwise specified or contemplated by ‎Section 3.01, shall be irrevocable.

   

   Section 11.05    Deposit of Redemption
        Price.

   

  Prior to any Redemption Date, the Company shall deposit with the Trustee
      or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in ‎Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an
      Interest Payment Date or the Securities of the series provide otherwise) accrued interest on, all the Securities which are to be redeemed on that date. 

   

  
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  Section 11.06    Securities Payable on
        Redemption Date.

   

  Notice of redemption having been given as aforesaid, the Securities so
      to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such
      Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together, if applicable, with accrued interest to the
      Redemption Date; provided, however, that, unless otherwise specified as contemplated by ‎Section 3.01, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such
      Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of ‎Section 3.07.

   

  If any Security called for redemption shall not be so paid upon
      surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security.

   

   Section 11.07    Securities Redeemed in
        Part.

   

  Any Security which is to be redeemed only in part and which is not
      represented by a Global Security shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly
      executed by, the Holder thereof or his or her attorney duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of
      the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. Any Security which is to
      be redeemed only in part and which is represented by a Global Security shall be redeemed in accordance with the procedures of the Depositary.

   

  Article XII

      

      SINKING FUNDS

   

   Section 12.01    Applicability of Article.

   

  The provisions of this Article shall be applicable to any sinking fund
      for the retirement of Securities of any series except as otherwise specified as contemplated by ‎Section 3.01 for such Securities. 

  

  
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  The minimum amount of any sinking fund payment provided for by the terms
      of any series of Securities is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment”. If
      provided for by the terms of any series of Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in ‎Section 12.02. Each sinking fund payment shall be applied to the redemption of Securities of the series as
      provided for by the terms of such Securities.

   

   Section 12.02    Satisfaction of Sinking
        Fund Payments with Securities.

   

  The Company (1) may deliver Outstanding Securities of a series
      (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of
      permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of
      such Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such
      purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

   

   Section 12.03    Redemption of Securities
        for Sinking Fund.

   

  Not less than 60 days prior to each sinking fund payment date for any
      Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be
      satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities pursuant to ‎Section 12.02 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
      prior to each such sinking fund payment date, the Securities to be redeemed upon such sinking fund payment date shall be selected in the manner specified in ‎Section 11.03 and the Trustee shall 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 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections ‎11.06 and ‎11.07. 

  

  
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  Article XIII

      

      DEFEASANCE AND COVENANT DEFEASANCE

   

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

   

  Unless otherwise provided as contemplated by ‎Section 3.01, Sections
      ‎13.02 and ‎13.03 shall apply to any Securities or any series of Securities, as the case may be, in either case, denominated in U.S. dollars and bearing interest at a fixed rate, in accordance with any applicable requirements provided pursuant to
      ‎Section 3.01 and upon compliance with the conditions set forth below in this Article; and the Company may elect, at its option at any time, to have Sections ‎13.02 and ‎13.03 applied to any Securities or any series of Securities, as the case may be,
      designated pursuant to ‎Section 3.01 as being defeasible pursuant to such Sections ‎13.02 or ‎13.03, in accordance with any applicable requirements provided pursuant to ‎Section 3.01 and upon compliance with the conditions set forth below in this
      Article. Any such election to have or not to have Sections ‎14.02 and ‎14.03 apply, as the case may be, shall be evidenced by a Board Resolution or in another manner specified as contemplated by ‎Section 3.01 for such Securities.

   

   Section 13.02    Defeasance and Discharge.

   

  Upon the Company’s exercise of its option (if any) to have this Section
      applied to any Securities or any series of Securities, as the case may be, or if this Section shall otherwise apply to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged from its
      obligations with respect to such Securities as provided in this Section, and the provisions of ‎Article XIV shall cease to be effective, on and after the date the conditions set forth in ‎Section 13.04 are satisfied (hereinafter called “Defeasance”).

      For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture
      insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the

      rights of Holders of such Securities to receive, solely from the trust fund described in ‎Section 13.04 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments
      are due, (2) the Company’s obligations with respect to such Securities under Sections ‎3.04, ‎3.05, ‎3.06, ‎10.02 and ‎10.03, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder, including, without limitation,
      its rights under ‎Section 6.07 and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if any) to have this Section applied to the Securities of any series notwithstanding the prior exercise of its
      option (if any) to have ‎Section 13.03 applied to such Securities.

  
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   Section 13.03    Covenant Defeasance.

   

  Upon the Company’s exercise of its option (if any) to have this Section
      applied to any Securities or any series of Securities, as the case may be, or if this Section shall otherwise apply to any Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations under
      any covenants provided pursuant to ‎Sections 3.01(18), ‎9.01(2) or ‎9.01(7) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Sections ‎5.01(4) (with respect to any such covenants provided
      pursuant to ‎Sections 3.01(18), ‎9.01(2) or ‎9.01(7)) and ‎5.01(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section on and after the date the conditions set forth in
      ‎Section 13.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any
      term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of ‎Section 5.01(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any
      reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby.

   

   Section 13.04    Conditions to Defeasance
        or Covenant Defeasance.

   

  The following shall be the conditions to the application of ‎Sections
      13.02 or ‎13.03 to any Securities or any series of Securities, as the case may be:

   

  (1)           The Company shall irrevocably have deposited or
      caused to be deposited with the Trustee (or another trustee which satisfies the requirements contemplated by ‎Section 6.09 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making
      the following payments, specifically pledged as security for, and dedicated solely to, the benefits of the Holders and beneficial owners of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the
      scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient,
      in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying
      trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation”
      means (x)  any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or
      supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is
      not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is
      specified in Clause ‎(x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held, provided
      that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the
      specific payment of principal or interest evidenced by such depositary receipt. 

  

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

   

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

   

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

   

  (5)          No event which is, or after notice or lapse of
      time or both would become, an Event of Default with respect to such Securities or any other Securities shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in Sections ‎5.01(5) and ‎(6), at any
      time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 

  

  
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  (6)          Such Defeasance or Covenant Defeasance shall not
      cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act).

   

  (7)          Such Defeasance or Covenant Defeasance shall not
      result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is bound.

   

  (8)          Such Defeasance or Covenant Defeasance shall not
      result in the trust arising from such deposit constituting an investment company within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration thereunder.

   

  (9)          The Company shall have delivered to the Trustee
      an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with (in each case, subject to the satisfaction of the condition in clause ‎(5)).

   

   Section 13.05    Deposited Money and U.S.
        Government Obligations to Be Held in Trust; Miscellaneous Provisions.

   

  Subject to the provisions of the last paragraph of ‎Section 10.03, all
      money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and ‎Section 13.06, the Trustee and any such other trustee are referred to collectively
      as the “Trustee”) pursuant to ‎Section 13.04 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
      any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so
      held in trust need not be segregated from other funds except to the extent required by law. Money and U.S. Government Obligations (including the proceeds thereof) so held in trust shall not be subject to the provisions of ‎Article XIV, provided that
      the applicable conditions of ‎Section 13.04 have been satisfied.

   

  The Company shall pay and indemnify the Trustee against any tax, fee or
      other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to ‎Section 13.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of
      the Holders of Outstanding Securities. 

  

  
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  Anything in this Article to the contrary notwithstanding, the Trustee
      shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in ‎Section 13.04 with respect to any Securities which, in the opinion of a nationally recognized firm of
      independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may
      be, with respect to such Securities.

   

   Section 13.06    Reinstatement.

   

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

   

  This instrument may be executed in any number of counterparts, each of
      which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

   

  Article XIV

      

      SUBORDINATION OF SECURITIES

   

   Section 14.01    Securities Subordinate
        to Senior Indebtedness.

   

  The Company covenants and agrees, and each Holder of a Security, by his
      or her acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article (subject to ‎Article IV), the payment of the principal of (and premium, if any) and interest on each and all of the
      Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full in cash of all amounts then due and payable in respect of Senior Indebtedness.

   

  This ‎Article XIV shall constitute a continuing offer to all Persons who
      become holders of, or continue to hold, Senior Indebtedness, and such provisions are made for the benefit of the holders of Senior Indebtedness and such holders are made obligees hereunder and any one or more of them may enforce such provisions.
      Holders of Senior Indebtedness need not prove reliance on the subordination provisions hereof.

  
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   Section 14.02    Payment Over of Proceeds
        Upon Dissolution, Etc.

   

  Upon any payment or distribution of assets of the Company to creditors
      upon (i) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding in connection therewith, relative to the Company or to its assets, or (ii) any liquidation, dissolution or
      other winding up of the Company, whether voluntary or involuntary and whether or not involving insolvency or bankruptcy, or (iii) any assignment for the benefit of creditors or any other marshalling of assets or liabilities of the Company, then and
      in any such event specified in (i), (ii) or (iii) above (each such event, if any, herein sometimes referred to as a “Proceeding”);

   

  (1)          the holders of Senior Indebtedness shall be
      entitled to receive payment in full in cash of all amounts due on Senior Indebtedness, before the Holders of the Securities are entitled to receive any payment or distribution of any kind or character whether in cash, property or securities
      (including any payment or distribution which may be payable or deliverable to Holders of the Securities made in respect of any other indebtedness of the Company subordinated to the payment of the Securities, such payment or distribution being
      hereinafter referred to as a “Junior Subordinated Payment”), on account of the principal of or interest on the Securities or on account of any purchase, redemption or other acquisition of Securities by the Company, any Subsidiary of the
      Company, the Trustee or any Paying Agent (all such payments, distributions, purchases, redemptions and acquisitions, whether or not in connection with a Proceeding, herein referred to, individually and collectively, as a “Securities Payment”);
      and

   

  (2)          any payment or distribution of assets of the
      Company of any kind or character, whether in cash, property or securities, by set-off or otherwise, to which the Holders of the Securities or the Trustee would be entitled but for the provisions of this ‎Article XIV (including, without limitation,
      any Junior Subordinated Payment) shall be paid by the liquidating trustee or agent or other Person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to the holders of Senior
      Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instruments evidencing any of such Senior Indebtedness may have been issued, ratably according to the aggregate amounts
      remaining unpaid on account of the Senior Indebtedness held or represented by each, to the extent necessary to make payment in full in cash of all Senior Indebtedness remaining unpaid, after giving effect to any concurrent payment to or for the
      holders of such Senior Indebtedness. 

  

  
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  In the event that, notwithstanding the foregoing provisions of this
      Section, the Trustee or the Holder of any Security shall have received in connection with any Proceeding any Securities Payment before all Senior Indebtedness is paid in full or payment thereof provided for in cash, then and in such event such
      Securities Payment shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the
      payment of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior Indebtedness in full in cash after giving effect to any concurrent payment to or for the holders of Senior Indebtedness.

   

  For purposes of this Article only, the words “any payment or
      distribution of any kind or character, whether in cash, property or securities” shall not be deemed to include a payment or distribution of stock or securities of the Company provided for by a plan of reorganization or readjustment authorized by an
      order or decree of a court of competent jurisdiction in a reorganization proceeding under any applicable bankruptcy law or of any other corporation provided for by such plan of reorganization or readjustment the payment of which is subordinated to
      all then outstanding Senior Indebtedness to substantially the same extent, or to a greater extent than, the Securities are so subordinated as provided in this Article. The consolidation of the Company with, or the merger of the Company into, another
      Person or the liquidation or dissolution of the Company following the conveyance or transfer of all or substantially all of its properties and assets as an entirety to another Person upon the terms and conditions set forth in ‎Article VIII shall not
      be deemed a Proceeding for the purposes of this Section if the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer such properties and assets as an entirety, as the case may
      be, shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions set forth in ‎Article VIII.

   

   Section 14.03    No Payment When Senior
        Indebtedness in Default.

   

  (1)          In the event that any Senior Payment Default (as
      defined below) shall have occurred, then no Securities Payment shall be made, nor shall any property of the Company or any Subsidiary of the Company be applied to the purchase, acquisition, retirement or redemption of the Securities, unless and until
      such Senior Payment Default shall have been cured or waived in writing or shall have ceased to exist or all amounts then due and payable in respect of such Senior Indebtedness (including amounts that have become and remain due by acceleration) shall
      have been paid in full in cash. “Senior Payment Default” means any default in the payment of principal of (or premium, if any) or interest on any Senior Indebtedness when due, whether at the Stated Maturity or by declaration of acceleration of
      maturity, call for redemption, mandatory payment or prepayment or otherwise. 

  

  
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  (2)          In the event that any Senior Nonmonetary Default
      (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company and the Trustee of written notice of such Senior Nonmonetary Default from the holders of at least 25% in principal amount of such Senior Indebtedness (or
      the agent, trustee or representative thereof), no Securities Payment shall be made, nor shall any property of the Company or any Subsidiary of the Company be applied to the purchase, acquisition, retirement or redemption of the Securities, during the
      period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending (subject to any blockage of payments that may then or thereafter be in effect as the result of any Senior Payment Default) on the
      earlier of (i) the date on which the Senior Indebtedness to which such Senior Nonmonetary Default relates is discharged or such Senior Nonmonetary Default shall have been cured or waived in writing or shall have ceased to exist and any acceleration
      of Senior Indebtedness to which such Senior Nonmonetary Default relates shall have been rescinded or annulled or (ii) the 179th day after the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with
      respect to the Securities during any period of 360 consecutive days and there shall be a period of at least 181 consecutive days in each period of 360 consecutive days when no Payment Blockage Period is in effect. Following the commencement of any
      Payment Blockage Period, the holders of any Senior Indebtedness will be precluded from commencing a subsequent Payment Blockage Period until the conditions set forth in the preceding sentence are satisfied. For all purposes of this paragraph, no
      Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period with respect to the Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis for the commencement
      of a subsequent Payment Blockage Period by holders of Senior Indebtedness or their representatives unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days. “Senior Nonmonetary Default” means the
      occurrence or existence and continuance of any default (other than a Senior Payment Default) or any event which, after notice or lapse of time (or both), would become an Event of Default (other than a Senior Payment Default), under the terms of any
      instrument or agreement pursuant to which any Senior Indebtedness is outstanding, permitting (after notice or lapse of time or both) one or more holders of such Senior Indebtedness (or a trustee or agent on behalf of the holders thereof) to declare
      such Senior Indebtedness due and payable prior to the date on which it would otherwise become due and payable.

   

  (3)           In the event that, notwithstanding the
      foregoing, the Company shall make any payment to the Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known to the Trustee
      or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 

  

  
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  (4)          The provisions of this Section shall not apply to
      any Securities Payment with respect to which ‎Section 14.02 hereof would be applicable.

   

   Section 14.04    Payment Permitted If No
        Default.

   

  Nothing contained in this Article or elsewhere in this Indenture or in
      any of the Securities shall prevent the Company, at any time except during the pendency of any Proceeding referred to in ‎Section 14.02 hereof or under the conditions described in ‎Section 14.03 hereof, from making Securities Payments.

   

   Section 14.05    Subrogation to Rights of
        Holders of Senior Indebtedness.

   

  Subject to the payment in full in cash of all Senior Indebtedness, the
      Holders of the Securities shall be subrogated (equally and ratably with the holders of all indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Securities are
      subordinated and is entitled to like rights of subrogation) to the rights of the holders of such Senior Indebtedness to receive payments and distributions of cash, property and securities applicable to the Senior Indebtedness until the principal of
      and interest on the Securities shall be paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Securities or the Trustee
      would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Indebtedness by Holders of the Securities or the Trustee, shall, as among the Company, its creditors
      other than holders of Senior Indebtedness and the Holders of the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Indebtedness.

   

   Section 14.06    Provisions Solely to
        Define Relative Rights.

   

  The provisions of this Article are and are intended solely for the
      purpose of defining the relative rights of the Holders on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall (a) impair,
      as among the Company, its creditors other than holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article of the holders of
      Senior Indebtedness, is intended to rank equally with all other general obligations of the Company), to pay to the Holders of the Securities the principal of and interest on the Securities as and when the same shall become due and payable in
      accordance with their terms; or (b) affect the relative rights against the Company of the Holders of the Securities and creditors of the Company other than the holders of Senior Indebtedness; or (c) prevent the Trustee or the Holder of any Security
      from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Indebtedness to receive cash, property and securities otherwise payable
      or deliverable to the Trustee or such Holder. 

   

  
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  Section 14.07    Trustee to Effectuate
        Subordination.

   

  Each Holder of a Security by his or her acceptance thereof authorizes
      and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article and appoints the Trustee his or her attorney-in-fact for any and all such purposes,
      including, in the event of any dissolution, winding-up, liquidation or reorganization of the Company whether in bankruptcy, insolvency, receivership proceedings, or otherwise, the timely filing of a claim for the unpaid balance of the indebtedness of
      the Company owing to such Holder in the form required in such proceedings and the causing of such claim to be approved. If the Trustee does not file a proper claim at least 30 days before the expiration of the time to file such claim, then the
      holders of the Senior Indebtedness and their agents, trustees or other representatives are authorized to do so (but shall in no event be liable for any failure to do so) for and on behalf of the Holders of the Securities.

   

   Section 14.08    No Waiver of
        Subordination Provisions.

   

  No right of any present or future holder of any Senior Indebtedness to
      enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the
      Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with.

   

  Without in any way limiting the generality of the foregoing paragraph,
      the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility to the Holders of the Securities and without impairing or
      releasing the subordination provided in this Article or the obligations hereunder of the Holders of the Securities to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment or extend
      the time of payment of, or renew or alter, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) permit the
      Company to borrow, repay and then reborrow any or all of the Senior Indebtedness; (iii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iv) release any Person liable in any
      manner for the collection of Senior Indebtedness; (v) exercise or refrain from exercising any rights against the Company and any other Person; and (vi) apply any sums received by them to Senior Indebtedness.

  
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   Section 14.09    Notice to Trustee.

   

  The Company shall give prompt written notice to the Trustee of any fact
      known to the Company which would prohibit the making of any payment to or by the Trustee in respect of the Securities or that would end such prohibition. Notwithstanding the provisions of this Article or any other provision of this Indenture, the
      Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Securities or that would end such prohibition, unless and until a Responsible Officer of
      the Trustee shall have received written notice at the address specified in ‎Section 1.05 thereof from the Company, any holder of Senior Indebtedness or from any trustee, fiduciary or agent therefor; and, prior to the receipt of any such written
      notice, the Trustee, subject to the provisions of ‎Section 6.01 hereof, shall be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice of any prohibition
      provided for in this Section at least three Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including, without limitation, the payment of the principal of or interest on any Security),
      then, anything herein contained to the contrary notwithstanding, but without limiting the rights and remedies of the holders of Senior Indebtedness or any trustee, fiduciary or agent therefor, the Trustee shall have full power and authority to
      receive such money and to apply the same to the purpose for which such money was received and shall not be affected by any notice to the contrary which may be received by it within three Business Days prior to such date. Any notice required or
      permitted to be given to the Trustee by a holder of Senior Indebtedness or by any agent, trustee or representative thereof shall be in writing and shall be sufficient for every purpose hereunder if in writing and either (i) sent via facsimile to the
      Trustee, the receipt of which shall be confirmed via telephone, or (ii) mailed, first class postage prepaid, or sent by overnight carrier, to the Trustee addressed to its Corporate Trust Office or to any other address furnished in writing to such
      holder of Senior Indebtedness by the Trustee.

   

  Subject to the provisions of ‎Section 6.01 hereof, the Trustee shall be
      entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee, fiduciary or agent therefore) to establish that such notice has been given by a holder of Senior
      Indebtedness or a trustee, fiduciary or agent therefor. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment
      or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled
      to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to
      the right of such Person to receive such payment. 

  

  
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  Notwithstanding anything else contained herein, no notice, request or
      other communication to or with the Trustee shall be deemed given unless received by a Responsible Officer at the Corporate Trust Office.

   

   Section 14.10    Reliance on Judicial
        Order or Certificate of Liquidating Agent.

   

  Upon any payment or distribution of assets of the Company referred to in
      this Article, the Trustee, subject to the provisions of ‎Section 6.01 hereof, and the Holders of the Securities shall be entitled to conclusively rely upon any order or decree entered by any court of competent jurisdiction in which such Proceeding is
      pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of
      Securities, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or
      amounts paid or distributed thereon and all other facts pertinent thereto or to this Article.

   

   Section 14.11    Trustee Not Fiduciary
        for Holders of Senior Indebtedness.

   

  The Trustee shall not be deemed to owe any fiduciary duty to the holders
      of Senior Indebtedness and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other Person cash, property or securities to which any holders of
      Senior Indebtedness shall be entitled by virtue of this Article or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or obligations as are specifically set forth
      in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee.

   

   Section 14.12    Rights of Trustee as
        Holder of Senior Indebtedness; Preservation of Trustee’s Rights.

   

  The Trustee in its individual capacity shall be entitled to all the
      rights set forth in this Article with respect to any Senior Indebtedness which may at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights
      as such holder.

   

  Nothing in this Article shall apply to claims of, or payments to, the
      Trustee under or pursuant to ‎Section 6.07 hereof. 

   

  
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  Section 14.13    Article Applicable to
        Paying Agents.

   

  In case at any time any Paying Agent other than the Trustee shall have
      been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case (unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully
      for all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the Trustee; provided, however, that ‎Section 14.11 hereof shall not apply to the Company or any Affiliate of the Company if it or such
      Affiliate acts as Paying Agent. 

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

   

  		COREBRIDGE FINANCIAL, INC.
	 	 	 
	 	By:	/s/ Elias Habayeb 
	 	 	Name: Elias Habayeb
	 	 	Title: Executive Vice President and Chief Financial Officer

    

   

    

  [Signature Page to Indenture] 

  
     

    
      
 

  

  

  		THE BANK OF NEW YORK MELLON,
	 	As Trustee
	 	 	 
	 	By:	/s/ Francine Kincaid 
	 	 	 Name: Francine Kincaid
	 	 	 Title: Vice President

   

   

  

  [Signature Page to Indenture]

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