Document:

Schedule 4.2(a)(4) to First Amended and Restated Agreement

 Exhibit 10.2 
 GLADSTONE COMMERCIAL LIMITED PARTNERSHIP 
 SCHEDULE 4.2(a)(4) TO FIRST
AMENDED AND RESTATED 
 AGREEMENT OF LIMITED PARTNERSHIP 

DESIGNATION OF 7.125% SERIES C CUMULATIVE TERM PREFERRED UNITS 

1. Designation and Number. A series of term preferred units, designated the “7.125% Series C Cumulative Term Preferred
Units” (the “Series C Term Preferred Units”) is hereby established. The number of Series C Term Preferred Units authorized for issuance shall be 1,700,000. 

Rank. The Series C Term Preferred Units, with respect to distribution rights and rights upon liquidation, dissolution or
winding up of the Partnership, will rank (i) senior to all classes or series of senior common units and common units of the Partnership (collectively, the “Common Units”) and to all other Partnership Interests issued by the
Partnership the terms of which specifically provide that such Partnership Interests rank junior to the Series C Term Preferred Units with respect to distribution rights or rights upon liquidation, dissolution or winding up of the Partnership;
(ii) on a parity with all Partnership Interests issued by the Partnership the terms of which specifically provide that such Partnership Interests rank on a parity with the Series C Term Preferred Units with respect to distribution rights and
rights upon liquidation, dissolution or winding up of the Partnership, including, but not limited to, each of the 7.75% Series A Cumulative Redeemable Preferred Units and 7.50% Series B Cumulative Redeemable Preferred Units of the Partnership
(collectively, the “Parity Preferred Units”); and (iii) junior to all Partnership Interests issued by the Partnership the terms of which specifically provide that such Partnership Interests rank senior to the Series C Term
Preferred Units with respect to distribution rights or rights upon liquidation, dissolution or winding up of the Partnership and to all existing and future indebtedness of the Partnership. 

3. Distributions. 
 (a) Holders of the Series C Term Preferred Units are entitled to receive, when and as declared by the General Partner, out of funds legally available for the payment of distributions, preferential
cumulative cash distributions at the rate of 7.125% per annum of the $25.00 liquidation preference per Series C Term Preferred Unit (equivalent to a fixed annual amount of $1.7813 per Series C Term Preferred Unit). Distributions on the Series C
Term Preferred Units shall be cumulative from (but excluding) the date of original issue and shall be payable monthly in arrears on or before the last Business Day (as defined below) of each month (each, a “Distribution Payment
Date”). The first distribution will be payable on February 29, 2012 and monthly thereafter on the last day of the month, or, if not a Business Day (as defined below), on the next succeeding Business Day (each, a “Distribution
Payment Date”). The first distribution, which will be payable on February 29, 2012, will be for more than a full month. Such distribution and any distribution payable on the Series C Term Preferred Units for any partial distribution
period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Distributions will be payable to holders of record as they appear in the ownership records of the Partnership at the close of business on the applicable
record date, which shall be the date designated by the General Partner of the Partnership that is not more than 20 nor less than 7 days prior to such Distribution Payment Date (each, a “Distribution Record Date”). 

 The term “Business Day” shall mean any calendar day on which the New York Stock Exchange is
open for trading. 
 (b) No distributions on Series C Term Preferred Units shall be declared by the General Partner or paid or
set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides
that such declaration, payment or setting apart for payment of such distributions would constitute a breach thereof or a default thereunder, or if such declaration or payment shall be restricted or prohibited by law. 

(c) Notwithstanding the foregoing, distributions on the Series C Term Preferred Units will accumulate whether or not the Partnership has
earnings, whether or not restrictions exist in respect thereof, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are declared. Accumulated but unpaid distributions on the
Series C Term Preferred Units will not bear interest, and holders of the Series C Term Preferred Units will not be entitled to any distributions in excess of full cumulative distributions described above. When distributions are not paid in full (or
a sum sufficient for such full payment is not so set apart) upon the Series C Term Preferred Units and the Partnership Interests of any Parity Preferred Units, all distributions declared upon the Series C Term Preferred Units and any Parity
Preferred Units shall be declared pro rata so that the amount of distributions declared per Series C Term Preferred Unit and such Parity Preferred Units shall in all cases bear to each other the same ratio that accumulated distributions per unit on
the Series C Term Preferred Units and such Parity Preferred Units (which shall not include any accrual in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have a cumulative distribution) bear to
each other. 
 (d) Except as provided in the immediately preceding paragraph, unless full cumulative distributions on the Series
C Term Preferred Units have been or contemporaneously are declared and paid or declared and a sum sufficient for the payment thereof is set apart for payment for all past distribution periods, no distributions (other than a distribution in Common
Units or other Partnership Interests ranking junior to the Series C Term Preferred Units as to distributions and upon liquidation) shall be declared and paid or declared and set apart for payment nor shall any other distribution be declared and made
upon the Common Units or any other Partnership Interests in the Partnership ranking junior to or on a parity with the Series C Term Preferred Units as to distributions or upon liquidation, nor shall any Common Units or any other Partnership
Interests in the Partnership ranking junior to or on a parity with the Series C Term Preferred Units as to distributions or upon liquidation be redeemed, purchased or otherwise acquired for any consideration (or any monies be paid to or made
available for a sinking fund for the redemption of any such Partnership Interests) by the Partnership. Holders of Series C Term Preferred Units shall not be entitled to any distribution, whether payable in cash, property or securities, in excess of
full cumulative distributions on the Series C Term Preferred Units as provided above. Any distribution payment made on the Series C Term Preferred Units shall first be credited against the earliest accumulated but unpaid distribution due with
respect to such Series C Term Preferred Units which remains payable. 

  
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 4. Liquidation Preference. Upon any voluntary or involuntary liquidation,
dissolution or winding up of the affairs of the Partnership, the holders of Series C Term Preferred Units are entitled to be paid out of the assets of the Partnership legally available for distribution to its partners a liquidation preference of $25
per Series C Term Preferred Unit, plus an amount equal to any accumulated and unpaid distributions to and including the date of payment, but without interest, before any distribution of assets is made to holders of Common Units or any other class or
series of Partnership Interests in the Partnership that ranks junior to the Series C Term Preferred Units as to liquidation rights. If the assets of the Partnership legally available for distribution to holders of Partnership Interests are
insufficient to pay in full the liquidation preference on the Series C Term Preferred Units and the liquidation preference on any Parity Preferred Units, all assets distributed to the holders of the Series C Term Preferred Units and any Parity
Preferred Units shall be distributed pro rata so that the amount of assets distributed per Series C Term Preferred Unit and such Parity Preferred Units shall in all cases bear to each other the same ratio that the liquidation preference per Series C
Term Preferred Unit and such Parity Preferred Units bear to each other. The Partnership will promptly provide to the holders of Series C Term Preferred Units written notice of any event triggering the right to receive such liquidation preference.
After payment of the full amount of the liquidation preference, plus any accumulated and unpaid distributions to which they are entitled, the holders of Series C Term Preferred Units will have no right or claim to any of the remaining assets of the
Partnership. The consolidation or merger of the Partnership with or into any other partnership, corporation, trust or entity or of any other partnership or corporation with or into the Partnership, or a sale, lease, transfer or conveyance of all or
substantially all of the Partnership’s property or business shall not be deemed to constitute a liquidation, dissolution or winding up of the Partnership. 
 5. Redemption. The Series C Term Preferred Units shall be subject to redemption by the Partnership as provided below: 

(a) Definitions. As used in this Section 5, the following terms shall have the following meanings unless the context
otherwise requires: 
 “1940 Act” means the Investment Company Act of 1940, as amended, or any successor
statute. 
 “Capital Stock” of a corporation means the capital stock of every class whether now or hereafter
authorized, regardless of whether such capital stock shall be limited to a fixed sum or percentage with respect to the rights of the holders thereof to participate in dividends and in the distribution of assets upon the voluntary or involuntary
liquidation, dissolution or winding up of such corporation. 
 “Change of Control Triggering Payment” shall
have the meaning as set forth in Section 5(d)(i). 
 “Change of Control Payment Date” shall have the
meaning as set forth in Section 5(d)(ii). 

  
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 “Change of Control Redemption” shall have the meaning as set forth in
Section 5(d)(i). 
 “Change of Control Triggering Event” means the occurrence of any of the following:
(1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of Gladstone Commercial
Corporation’s assets and the assets of Gladstone Commercial Corporation’s subsidiaries, taken as a whole, to any Person, other than Gladstone Commercial Corporation or one of Gladstone Commercial Corporation’s subsidiaries;
(2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or
indirectly, of more than 50% of Gladstone Commercial Corporation’s outstanding Voting Stock or other Voting Stock into which Gladstone Commercial Corporation’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by
voting power rather than number of shares; (3) Gladstone Commercial Corporation consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, Gladstone Commercial Corporation, in any such event
pursuant to a transaction in which any of Gladstone Commercial Corporation’s outstanding Voting Stock or the Voting Stock of such other Person is converted into or exchanged for cash, securities or other property, other than any such
transaction where the shares of Gladstone Commercial Corporation’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person or any
direct or indirect parent company of the surviving Person immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Board of Directors of Gladstone Commercial Corporation are not Continuing
Directors; or (5) the adoption of a plan relating to Gladstone Commercial Corporation’s liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control Triggering Event under
clause (2) above if (i) Gladstone Commercial Corporation becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following
that transaction are substantially the same as the holders of Gladstone Commercial Corporation’s Voting Stock immediately prior to that transaction or (B) immediately following that transaction no Person (other than a holding company
satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 
 “Continuing Directors” means, as of any date of determination, any member of the Gladstone Commercial Corporation’s Board of Directors who (A) was a member of such Board of
Directors on the date the Series C Term Preferred Units were issued or (B) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the continuing directors who were members of such Board of
Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of a proxy statement in which such member was named as a nominee for election as a director, without objection to such nomination).

  
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 “Deposit Securities” means, as of any date, any United States
dollar-denominated security or other investment of a type described below that either (i) is a demand obligation payable to the holder thereof on any Business Day or (ii) has a maturity date, mandatory redemption date or mandatory payment
date, on its face or at the option of the holder, preceding the relevant Redemption Date, Distribution Payment Date or other payment date in respect of which such security or other investment has been deposited or set aside as a Deposit
Security: 
 (i) cash or any cash equivalent; 
 (ii) any U.S. Government Obligation; 
 (iii) any Short-Term Money Market
Instrument; 
 (iv) any investment in any money market fund registered under the 1940 Act that qualifies under Rule 2a-7
under the 1940 Act, or similar investment vehicle described in Rule 12d1-1(b)(2) under the 1940 Act, that invests principally in Short-Term Money Market Instruments or U.S. Government Obligations or any combination thereof; or

 (v) any letter of credit from a bank or other financial institution that has a credit rating from at least one rating agency
that is the highest applicable rating generally ascribed by such rating agency to bank deposits or short-term debt of similar banks or other financial institutions as of the date hereof (or such rating’s future equivalent). 

“Electronic Means” means electronic mail transmission, facsimile transmission or other similar electronic means of
communication providing evidence of transmission (but excluding online communications systems covered by a separate agreement) acceptable to the sending party and the receiving party, in any case if operative as between any two parties, or, if not
operative, by telephone (promptly confirmed by any other method set forth in this definition). 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 “Market Value” of any asset of the Partnership
means, for securities for which market quotations are readily available, the market value thereof determined by an independent third-party pricing service designated from time to time by the General Partner. Market Value of any asset shall include
any interest accrued thereon. The pricing service values portfolio securities at the mean between the quoted bid and asked price or the yield equivalent when quotations are readily available. Securities for which quotations are not readily available
are valued at fair value as determined by the pricing service using methods that include consideration of: yields or prices of securities of comparable quality, type of issue, coupon, maturity and rating; indications as to value from dealers; and
general market conditions. The pricing service may employ electronic data processing techniques or a matrix system, or both, to determine recommended valuations. 
 “Notice of Redemption” shall have the meaning as set forth in Section 5(d). 
 “Optional Redemption Date” shall have the meaning as set forth in Section 5(c)(i). 

  
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 “Optional Redemption Price” shall have the meaning as set forth in
Section 5(c)(i). 
 “Person” has the meaning given thereto in Section 13(d)(3) of the Exchange Act.

 “Redemption and Paying Agent” means Computershare Limited and its successors or any other redemption and
paying agent appointed by the Partnership with respect to the Series C Term Preferred Units. 

“Redemption Date” shall have the meaning as set forth in Section 5(d). 

“Redemption Price” shall mean the Term Redemption Price or the Optional Redemption Price, as applicable.

 “Securities Depository” shall mean The Depository Trust Company and its successors and assigns or any other
securities depository selected by the Partnership that agrees to follow the procedures required to be followed by such securities depository as set forth herein with respect to the Series C Term Preferred Units. 

“Short-Term Money Market Instruments” means the following types of instruments if, on the date of purchase or other
acquisition thereof by the Partnership, the remaining term to maturity thereof is not in excess of 180 days: 
 (i)
commercial paper rated A-1 if such commercial paper matures in 30 days or A-1+ if such commercial paper matures in over 30 days; 
 (ii) demand or time deposits in, and banker’s acceptances and certificates of deposit of (A) a depository institution or trust company incorporated under the laws of the United States of America
or any state thereof or the District of Columbia or (B) a United States branch office or agency of a foreign depository institution (provided that such branch office or agency is subject to banking regulation under the laws of the United
States, any state thereof or the District of Columbia); and 
 (iii) overnight funds. 

“Term Redemption Price” shall have the meaning as set forth in Section 5(a). 

“U.S. Government Obligations” means direct obligations of the United States or of its agencies or instrumentalities
that are entitled to the full faith and credit of the United States and that, other than United States Treasury Bills, provide for the periodic payment of interest and the full payment of principal at maturity or call for redemption. 

“Voting Stock” means, with respect to any specified Person that is a corporation as of any date, the Capital Stock of
such Person that is at the time entitled to vote generally in the election of the directors of such Person. 

  
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 (b) Term Redemption. The Partnership shall redeem, out of funds legally
available therefor, all Series C Term Preferred Units on January 31, 2017 (the “Term Redemption Date”), at a price per unit equal to the liquidation preference per Series C Term Preferred Unit plus an amount equal to all unpaid
distributions on such Series C Term Preferred Unit accumulated to (and including) the Term Redemption Date (whether or not earned or declared by the Partnership, but excluding interest thereon) (the “Term Redemption Price”).

 (c) Optional Redemption. 
 (i) Except as set forth in Section 5(d), the Series C Term Preferred Units are not redeemable prior to the close of business on January 31, 2016. However, Partnership Interests owned by a
Limited Partner in excess of 9.8% in value of outstanding Partnership Interests will be deemed “excess units,” and the Partnership will have the right to purchase those excess units from the Limited Partner. Subject to the provisions of
Section 5(c)(ii), on any Business Day after the close of business on January 31, 2016 (any such Business Day referred to in this sentence, an “Optional Redemption Date”), the Partnership may redeem in whole or from time to
time in part, out of funds legally available therefor, the Series C Term Preferred Units, at a redemption price per unit of Series C Term Preferred Units (the “Optional Redemption Price”) equal to (x) the liquidation preference
per Series C Term Preferred Unit plus (y) an amount equal to all unpaid distributions on such Series C Term Preferred Unit accumulated to (and including) the Optional Redemption Date (whether or not earned or declared by the Partnership, but
excluding interest thereon). 
 (ii) If fewer than all of the outstanding Series C Term Preferred Units are to be redeemed
pursuant to Section 5(c)(i), the Series C Term Preferred Units to be redeemed shall be selected either (A) pro rata, (B) by lot or (C) in such other manner as the General Partner may determine to be fair and equitable. Subject to
the provisions hereof and applicable law, the General Partner will have the full power and authority to prescribe the terms and conditions upon which the Series C Term Preferred Units will be redeemed pursuant to this Section 5(c) from time to
time. 
 (iii) The Partnership may not on any date deliver a Notice of Redemption pursuant to Section 5(d) in respect of a
redemption contemplated to be effected pursuant to this Section 5(c) unless on such date the Partnership has available Deposit Securities for the Optional Redemption Date contemplated by such Notice of Redemption having a Market Value not less
than the amount due to holders of Series C Term Preferred Units by reason of the redemption of such Series C Term Preferred Units on such Optional Redemption Date. 
 (d) Change of Control 
 (i) If a Change of Control Triggering Event
occurs with respect to the Series C Term Preferred Units, unless the Partnership has exercised the option to redeem such Series C Term Preferred Units pursuant to Section 5(c), holders of the Series C Term Preferred Units may require the
Partnership to redeem (a “Change of Control Redemption”) the Series C Term Preferred Units at a price equal to the liquidation preference of $25.00 per Series C Term Preferred Unit, plus an amount equal to any accumulated and unpaid
distributions up to and including the date of payment, but without interest (a “Change of Control Payment”). 

  
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 (ii) Within 30 days following any Change of Control Triggering Event or prior to any Change
of Control Triggering Event, but after public announcement of the transaction that constitutes or may constitute the Change of Control Triggering Event, a notice will be mailed to holders of the Series C Term Preferred Units, describing the
transaction that constitutes or may constitute the Change of Control Triggering Event and offering to redeem such Series C Term Preferred Units on the date specified in the applicable notice, which date will be no earlier than 30 days and no later
than 60 days from the date such notice is mailed (a “Change of Control Payment Date”). The notice will, if mailed prior to the date of consummation of the Change of Control Triggering Event, state that the Change of Control
Redemption is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of Control Payment Date. 
 (iii) The Partnership will not be required to make a Change of Control Redemption upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the
times and otherwise in compliance with the requirements for an offer made by the Partnership and the third party purchases all Series C Term Preferred Units properly tendered and not withdrawn under its offer. 

(iv) The Partnership will comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with the redemption of the Series C Term Preferred Units as a result of a Change of Control Triggering Event. To the extent that the provisions of any such
securities laws or regulations conflict with the Change of Control Redemption provisions of the Series C Term Preferred Units, the Partnership will comply with those securities laws and regulations and will not be deemed to have breached the
Partnership’s obligations under the Change of Control Redemption provisions of the Series C Term Preferred Units by virtue of any such conflict. 
 (e) Procedures for Redemption. 
 (i) If the Partnership shall
determine or be required to redeem, in whole or in part, Series C Term Preferred Units pursuant to Section 5(b) or (c), the Partnership shall deliver a notice of redemption (the “Notice of Redemption”), by overnight delivery,
by first class mail, postage prepaid or by Electronic Means to holders thereof, or request the Redemption and Paying Agent, on behalf of the Partnership, to promptly do so by overnight delivery, by first class mail, postage prepaid or by Electronic
Means. A Notice of Redemption shall be provided not less than 30 nor more than 60 days prior to the date fixed for redemption in such Notice of Redemption (the “Redemption Date”). Each such Notice of Redemption shall state:
(A) the Redemption Date; (B) the number of Series C Term Preferred Units to be redeemed; (C) the applicable Redemption Price on a per unit basis; (D) if applicable, the place or places where the certificate(s) for such
units (properly endorsed or assigned for transfer, if the General Partner requires and the Notice of Redemption states) are to be surrendered for payment of the Redemption Price; (E) that distributions on the Series C Term Preferred Units
to be 

  
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redeemed will cease to accumulate from and after such Redemption Date; and (F) the provisions hereof under which such redemption is made. If fewer than all Series C Term Preferred Units
held by any holder are to be redeemed, the Notice of Redemption delivered to such holder shall also specify the number of Series C Term Preferred Units to be redeemed from such holder or the method of determining such number. The Partnership may
provide in any Notice of Redemption relating to a redemption contemplated to be effected pursuant hereto that such redemption is subject to one or more conditions precedent and that the Partnership shall not be required to effect such redemption
unless each such condition has been satisfied at the time or times and in the manner specified in such Notice of Redemption. No defect in the Notice of Redemption or delivery thereof shall affect the validity of redemption proceedings, except as
required by applicable law. 
 (ii) If the Partnership shall give a Notice of Redemption, then at any time from and after the
giving of such Notice of Redemption and prior to 12:00 noon, New York City time, on the Redemption Date (so long as any conditions precedent to such redemption have been met or waived by the Partnership), the Partnership shall (A) deposit with
the Redemption and Paying Agent Deposit Securities having an aggregate Market Value on the date thereof no less than the Redemption Price of the Series C Term Preferred Units to be redeemed on the Redemption Date and (B) give the Redemption and
Paying Agent irrevocable instructions and authority to pay the applicable Redemption Price to the holders of the Series C Term Preferred Units called for redemption on the Redemption Date. The Partnership may direct the Redemption and Paying Agent
with respect to the investment of any Deposit Securities consisting of cash so deposited prior to the Redemption Date, provided that the proceeds of any such investment shall be available at the opening of business on the Redemption Date as same day
funds. 
 (iii) Upon the date of the deposit of such Deposit Securities, all rights of the holders of the Series C Term
Preferred Units so called for redemption shall cease and terminate except the right of the holders thereof to receive the Redemption Price thereof and such Series C Term Preferred Units shall no longer be deemed outstanding for any purpose
whatsoever (other than (A) the transfer thereof prior to the applicable Redemption Date and (B) the accumulation of distributions thereon in accordance with the terms hereof up to (but excluding) the applicable Redemption Date, which
accumulated distributions, unless previously or contemporaneously declared and paid as contemplated by the last sentence of Section 5(d)(vi) below, shall be payable only as part of the applicable Redemption Price on the Redemption Date). The
Partnership shall be entitled to receive, promptly after the Redemption Date, any Deposit Securities in excess of the aggregate Redemption Price of the Series C Term Preferred Units called for redemption on the Redemption Date. Any Deposit
Securities so deposited that are unclaimed at the end of 90 calendar days from the Redemption Date shall, to the extent permitted by law, be repaid to the Partnership, after which the holders of the Series C Term Preferred Units so called for
redemption shall look only to the Partnership for payment of the Redemption Price thereof. The Partnership shall be entitled to receive, from time to time after the Redemption Date, any interest on the Deposit Securities so deposited. 

(iv) On or after the Redemption Date, each holder of Series C Term Preferred Units in certificated form (if any) that are subject to
redemption shall surrender the certificate(s) representing such Series C Term Preferred Units to the Partnership at the place 

  
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designated in the Notice of Redemption and shall then be entitled to receive the Redemption Price for such Series C Term Preferred Units, without interest, and in the case of a redemption of
fewer than all the Series C Term Preferred Units represented by such certificate(s), a new certificate representing the Series C Term Preferred Units that were not redeemed. 
 (v) Notwithstanding the other provisions of this Section 5, except as otherwise required by law, the Partnership shall not redeem any Series C Term Preferred Units unless all accumulated and unpaid
distributions on all outstanding Series C Term Preferred Units and any Parity Preferred Units for all applicable past distribution periods (whether or not earned or declared by the Partnership) (x) shall have been or are contemporaneously paid
or (y) shall have been or are contemporaneously declared and Deposit Securities or sufficient funds (in accordance with the terms of such Parity Preferred Units) for the payment of such distributions shall have been or are contemporaneously
deposited with the Redemption and Paying Agent or other applicable paying agent for such Parity Preferred Units in accordance with the terms of such Parity Preferred Units, provided, however, that the foregoing shall not prevent the
purchase or acquisition of outstanding Series C Term Preferred Units pursuant to an otherwise lawful purchase or exchange offer made on the same terms to holders of all outstanding Series C Term Preferred Units and any other Parity Preferred Units
for which all accumulated and unpaid distributions have not been paid. 
 (vi) To the extent that any redemption for which
Notice of Redemption has been provided is not made by reason of the absence of legally available funds therefor in accordance herewith and applicable law, such redemption shall be made as soon as practicable to the extent such funds become
available. No Redemption Default shall be deemed to have occurred if the Partnership shall fail to deposit in trust with the Redemption and Paying Agent the Redemption Price with respect to any units where (1) the Notice of Redemption relating
to such redemption provided that such redemption was subject to one or more conditions precedent and (2) any such condition precedent shall not have been satisfied at the time or times and in the manner specified in such Notice of Redemption.
Notwithstanding the fact that a Notice of Redemption has been provided with respect to any Series C Term Preferred Units, distributions may be declared and paid on such Series C Term Preferred Units in accordance with their terms if Deposit
Securities for the payment of the Redemption Price of such Series C Term Preferred Units shall not have been deposited in trust with the Redemption and Paying Agent for that purpose. 

(f) Redemption and Paying Agent as Trustee of Redemption Payments by Partnership. All Deposit Securities
transferred to the Redemption and Paying Agent for payment of the Redemption Price of Series C Term Preferred Units called for redemption shall be held in trust by the Redemption and Paying Agent for the benefit of holders of Series C Term
Preferred Units so to be redeemed until paid to such holders in accordance with the terms hereof or returned to the Partnership in accordance with the provisions of Section 5(d)(iii) above. 

(g) Compliance With Applicable Law. In effecting any redemption pursuant to this Section 5, the Partnership shall
use its best efforts to comply with all applicable conditions precedent to effecting such redemption under any applicable Maryland law, but shall effect no redemption except in accordance with any applicable Maryland law. 

  
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 (h) Modification of Redemption Procedures. Notwithstanding the
foregoing provisions of this Section 5, the Partnership may, in its sole discretion, modify the procedures set forth above with respect to notification of redemption for the Series C Term Preferred Units; provided that such modification
does not materially and adversely affect the holders of the Series C Term Preferred Units or cause the Partnership to violate any applicable law, rule or regulation; and provided, further, that no such modification shall in any way
alter the rights or obligations of the Redemption and Paying Agent without its prior consent. 
 6. Voting Rights.
Holders of the Series C Term Preferred Units will not have any voting rights. 
 7. Conversion. The Series C Term
Preferred Units are not redeemable for, convertible into or exchangeable for any other property or securities of the Partnership. 
 8. Term. The Series C Term Preferred Units will not be subject to any sinking fund but must be redeemed or called for redemption upon proper notice and a sum sufficient for the payment
thereof set apart for payment on January 31, 2017. 
 9. No Preemptive Rights. No holder of the Series C Term
Preferred Units shall, as such holder, have any preemptive rights to purchase or subscribe for additional Partnership Interests in the Partnership or any other security of the Partnership which it may issue or sell. 

10. Status of Redeemed or Repurchased Series C Term Preferred Units. Series C Term Preferred Units that at any time have
been redeemed or purchased by the Partnership shall, after such redemption or purchase, have the status of authorized but unissued units. 
 11. Notice. All notices or communications hereunder, unless otherwise specified herein, shall be sufficiently given if in writing and delivered in person, by telecopier, by Electronic Means
or by overnight mail or delivery or mailed by first-class mail, postage prepaid. Notices delivered pursuant to this Section 11 shall be deemed given on the date received or, if mailed by first class mail, on the date five calendar days after
which such notice is mailed. 

  
 11Form of Indenture

 Exhibit 4.18 

 
  
 ZOGENIX, INC. 
  

 
 INDENTURE

 Dated as of             , 20    

  
  

Wilmington Trust Company, National Association 
 Trustee 
  
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 Section 1.1.
	  	 Definitions.
	  	 	1	  
	 Section 1.2.
	  	 Other Definitions.
	  	 	4	  
	 Section 1.3.
	  	 Incorporation by Reference of Trust Indenture Act.
	  	 	5	  
	 Section 1.4.
	  	 Rules of Construction.
	  	 	5	  
		
	 ARTICLE II. THE SECURITIES
	  	 	5	  
	 Section 2.1.
	  	 Issuable in Series.
	  	 	5	  
	 Section 2.2.
	  	 Establishment of Terms of Series of Securities.
	  	 	6	  
	 Section 2.3.
	  	 Execution and Authentication.
	  	 	8	  
	 Section 2.4.
	  	 Registrar and Paying Agent.
	  	 	9	  
	 Section 2.5.
	  	 Paying Agent to Hold Money in Trust.
	  	 	10	  
	 Section 2.6.
	  	 Securityholder Lists.
	  	 	10	  
	 Section 2.7.
	  	 Transfer and Exchange.
	  	 	10	  
	 Section 2.8.
	  	 Mutilated, Destroyed, Lost and Stolen Securities.
	  	 	11	  
	 Section 2.9.
	  	 Outstanding Securities.
	  	 	11	  
	 Section 2.10.
	  	 Treasury Securities.
	  	 	12	  
	 Section 2.11.
	  	 Temporary Securities.
	  	 	12	  
	 Section 2.12.
	  	 Cancellation.
	  	 	12	  
	 Section 2.13.
	  	 Defaulted Interest.
	  	 	12	  
	 Section 2.14.
	  	 Global Securities.
	  	 	13	  
	 Section 2.15.
	  	 CUSIP Numbers.
	  	 	14	  
		
	 ARTICLE III. REDEMPTION
	  	 	14	  
	 Section 3.1.
	  	 Notice to Trustee.
	  	 	14	  
	 Section 3.2.
	  	 Selection of Securities to be Redeemed.
	  	 	14	  
	 Section 3.3.
	  	 Notice of Redemption.
	  	 	15	  
	 Section 3.4.
	  	 Effect of Notice of Redemption.
	  	 	16	  
	 Section 3.5.
	  	 Deposit of Redemption Price.
	  	 	16	  
	 Section 3.6.
	  	 Securities Redeemed in Part.
	  	 	16	  
		
	 ARTICLE IV. COVENANTS
	  	 	16	  
	 Section 4.1.
	  	 Payment of Principal and Interest.
	  	 	16	  
	 Section 4.2.
	  	 SEC Reports.
	  	 	16	  
	 Section 4.3.
	  	 Compliance Certificate.
	  	 	17	  
	 Section 4.4.
	  	 Stay, Extension and Usury Laws.
	  	 	17	  
	 Section 4.5.
	  	 Corporate Existence.
	  	 	17	  
		
	 ARTICLE V. SUCCESSORS
	  	 	17	  
	 Section 5.1.
	  	 When Company May Merge, Etc.
	  	 	17	  
	 Section 5.2.
	  	 Successor Corporation Substituted.
	  	 	18	  

  
 i 

							
	 ARTICLE VI. DEFAULTS AND REMEDIES
	  	 	18	  
	 Section 6.1.
	  	 Events of Default.
	  	 	18	  
	 Section 6.2.
	  	 Acceleration of Maturity; Rescission and Annulment.
	  	 	19	  
	 Section 6.3.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee.
	  	 	20	  
	 Section 6.4.
	  	 Trustee May File Proofs of Claim.
	  	 	21	  
	 Section 6.5.
	  	 Trustee May Enforce Claims Without Possession of Securities.
	  	 	22	  
	 Section 6.6.
	  	 Application of Money Collected.
	  	 	22	  
	 Section 6.7.
	  	 Limitation on Suits.
	  	 	22	  
	 Section 6.8.
	  	 Unconditional Right of Holders to Receive Principal and Interest.
	  	 	23	  
	 Section 6.9.
	  	 Restoration of Rights and Remedies.
	  	 	23	  
	 Section 6.10.
	  	 Rights and Remedies Cumulative.
	  	 	23	  
	 Section 6.11.
	  	 Delay or Omission Not Waiver.
	  	 	23	  
	 Section 6.12.
	  	 Control by Holders.
	  	 	24	  
	 Section 6.13.
	  	 Waiver of Past Defaults.
	  	 	24	  
	 Section 6.14.
	  	 Undertaking for Costs.
	  	 	24	  
		
	 ARTICLE VII. TRUSTEE
	  	 	25	  
	 Section 7.1.
	  	 Duties of Trustee.
	  	 	25	  
	 Section 7.2.
	  	 Rights of Trustee.
	  	 	26	  
	 Section 7.3.
	  	 Individual Rights of Trustee.
	  	 	27	  
	 Section 7.4.
	  	 Trustee’s Disclaimer.
	  	 	27	  
	 Section 7.5.
	  	 Notice of Defaults.
	  	 	27	  
	 Section 7.6.
	  	 Reports by Trustee to Holders.
	  	 	28	  
	 Section 7.7.
	  	 Compensation and Indemnity.
	  	 	28	  
	 Section 7.8.
	  	 Replacement of Trustee.
	  	 	29	  
	 Section 7.9.
	  	 Successor Trustee by Merger, Etc.
	  	 	30	  
	 Section 7.10.
	  	 Eligibility; Disqualification.
	  	 	30	  
	 Section 7.11.
	  	 Preferential Collection of Claims Against Company.
	  	 	30	  
		
	 ARTICLE VIII. SATISFACTION AND DISCHARGE; DEFEASANCE
	  	 	30	  
	 Section 8.1.
	  	 Satisfaction and Discharge of Indenture.
	  	 	30	  
	 Section 8.2.
	  	 Application of Trust Funds; Indemnification.
	  	 	31	  
	 Section 8.3.
	  	 Legal Defeasance of Securities of any Series.
	  	 	32	  
	 Section 8.4.
	  	 Covenant Defeasance.
	  	 	33	  
	 Section 8.5.
	  	 Repayment to Company.
	  	 	34	  
	 Section 8.6.
	  	 Reinstatement.
	  	 	34	  
		
	 ARTICLE IX. AMENDMENTS AND WAIVERS
	  	 	35	  
	 Section 9.1.
	  	 Without Consent of Holders.
	  	 	35	  
	 Section 9.2.
	  	 With Consent of Holders.
	  	 	35	  
	 Section 9.3.
	  	 Limitations.
	  	 	36	  
	 Section 9.4.
	  	 Compliance with Trust Indenture Act.
	  	 	37	  
	 Section 9.5.
	  	 Revocation and Effect of Consents.
	  	 	37	  
	 Section 9.6.
	  	 Notation on or Exchange of Securities.
	  	 	37	  
	 Section 9.7.
	  	 Trustee Protected.
	  	 	37	  

  
 ii 

							
	 ARTICLE X. MISCELLANEOUS
	  	 	37	  
	 Section 10.1.
	  	 Trust Indenture Act Controls.
	  	 	37	  
	 Section 10.2.
	  	 Notices.
	  	 	38	  
	 Section 10.3.
	  	 Communication by Holders with Other Holders.
	  	 	39	  
	 Section 10.4.
	  	 Certificate and Opinion as to Conditions Precedent.
	  	 	39	  
	 Section 10.5.
	  	 Statements Required in Certificate or Opinion.
	  	 	39	  
	 Section 10.6.
	  	 Rules by Trustee and Agents.
	  	 	39	  
	 Section 10.7.
	  	 Legal Holidays.
	  	 	40	  
	 Section 10.8.
	  	 No Recourse Against Others.
	  	 	40	  
	 Section 10.9.
	  	 Counterparts.
	  	 	40	  
	 Section 10.10.
	  	 Governing Laws.
	  	 	40	  
	 Section 10.11.
	  	 No Adverse Interpretation of Other Agreements.
	  	 	40	  
	 Section 10.12.
	  	 Successors.
	  	 	40	  
	 Section 10.13.
	  	 Severability.
	  	 	40	  
	 Section 10.14.
	  	 Table of Contents, Headings, Etc.
	  	 	41	  
	 Section 10.15.
	  	 Securities in a Foreign Currency.
	  	 	41	  
	 Section 10.16.
	  	 Judgment Currency.
	  	 	41	  
	 Section 10.17.
	  	 Force Majeure.
	  	 	42	  
		
	 ARTICLE XI. SINKING FUNDS
	  	 	42	  
	 Section 11.1.
	  	 Applicability of Article.
	  	 	42	  
	 Section 11.2.
	  	 Satisfaction of Sinking Fund Payments with Securities.
	  	 	42	  
	 Section 11.3.
	  	 Redemption of Securities for Sinking Fund.
	  	 	43	  

  
 iii

 ZOGENIX, INC. 
 Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as of             , 20     

 

					
	 § 310(a)(1)
	 		  	7.10
	 (a)(2)
	 		  	7.10
	 (a)(3)
	 		  	Not Applicable
	 (a)(4)
	 		  	Not Applicable
	 (a)(5)
	 		  	7.10
	 (b)
	 		  	7.10
	 § 311(a)
	 		  	7.11
	 (b)
	 		  	7.11
	 (c)
	 		  	Not Applicable
	 § 312(a)
	 		  	2.6
	 (b)
	 		  	10.3
	 (c)
	 		  	10.3
	 § 313(a)
	 		  	7.6
	 (b)(1)
	 		  	7.6
	 (b)(2)
	 		  	7.6
	 (c)(1)
	 		  	7.6
	 (d)
	 		  	7.6
	 § 314(a)
	 		  	4.2, 10.5
	 (b)
	 		  	Not Applicable
	 (c)(1)
	 		  	10.4
	 (c)(2)
	 		  	10.4
	 (c)(3)
	 		  	Not Applicable
	 (d)
	 		  	Not Applicable
	 (e)
	 		  	10.5
	 (f)
	 		  	Not Applicable
	 § 315(a)
	 		  	7.1
	 (b)
	 		  	7.5
	 (c)
	 		  	7.1
	 (d)
	 		  	7.1
	 (e)
	 		  	6.14
	 § 316(a)
	 		  	2.10
	 (a)(1)(A)
	 		  	6.12
	 (a)(1)(B)
	 		  	6.13
	 (b)
	 		  	6.8
	 § 317(a)(1)
	 		  	6.3
	 (a)(2)
	 		  	6.4
	 (b)
	 		  	2.5
	 § 318(a)
	 		  	10.1

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

  
 iv 

 Indenture dated as of
            , 20     between ZOGENIX, INC., a company incorporated under the laws of Delaware (“Company”), and Wilmington Trust, National Association, a
national banking association (“Trustee”). 
 Each party agrees as follows for the benefit of the other party
and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture. 
 ARTICLE I. 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.1. Definitions. 
 “Additional Amounts” means any
additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such
Holders. 
 “Affiliate” of any specified person means any other person directly or indirectly controlling or
controlled by or under common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used
with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities or by agreement or
otherwise. 
 “Agent” means any Registrar, Paying Agent or Notice Agent. 

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

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

“Business Day” means, unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental
indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York (or in connection with any payment, the place of payment) on which banking institutions are authorized or required by law,
regulation or executive order to close. 
 “Capital Stock” means any and all shares, interests, participations,
rights or other equivalents (however designated) of corporate stock. 
 “Company” means the party named as such
above until a successor replaces it and thereafter means the successor. 

 “Company Order” means a written order signed in the name of the Company by
an Officer. 
 “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate trust business related to this Indenture shall be principally administered. 
 “Default” means any
event which is, or after notice or passage of time or both would be, an Event of Default. 
 “Depositary”
means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency
registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.

 “Discount Security” means any Security that provides for an amount less than the stated principal amount
thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2. 

“Dollars” and “$” means the currency of The United States of America. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United
States of America. 
 “Foreign Government Obligations” means, with respect to Securities of any Series that are
denominated in a Foreign Currency, direct obligations of, or obligations guaranteed by, the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged and which are not
callable or redeemable at the option of the issuer thereof. 
 “GAAP” means accounting principles generally
accepted in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect as of the date of determination. 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the
form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depositary for such Series or its nominee, and registered in the name of such Depositary or nominee. 

“Holder” or “Securityholder” means a person in whose name a Security is registered. 

  
 2 

 “Indenture” means this Indenture as amended or supplemented from time to
time and shall include the form and terms of particular Series of Securities established as contemplated hereunder. 

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

“Officer” means the Chief Executive Officer, President, the Chief Financial Officer, the Treasurer or any Assistant
Treasurer, the Secretary or any Assistant Secretary, and any Vice President of the Company. 
 “Officer’s
Certificate” means a certificate signed by any Officer. 
 “Opinion of Counsel” means a written
opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel to the Company. 

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

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any
Additional Amounts in respect of, the Security. 
 “Responsible Officer” means any officer of the Trustee in
its Corporate Trust Office having responsibility for administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom any corporate trust matter is referred because of his or her
knowledge of and familiarity with a particular subject. 
 “SEC” means the Securities and Exchange Commission.

 “Securities” means the debentures, notes or other debt instruments of the Company of any Series
authenticated and delivered under this Indenture. 
 “Series” or “Series of Securities” means
each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof. 

“Stated Maturity” when used with respect to any Security, means the date specified in such Security as the fixed date on
which the principal of such Security or interest is due and payable. 
 “Subsidiary” of any specified person
means any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other Subsidiaries of that person or a combination thereof. 

  
 3 

 “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§
77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust
Indenture Act 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 Obligations” means securities which are direct obligations of, or guaranteed by, The United States of
America for the payment of which its full faith and credit is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with
respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt, 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 depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation evidenced by such
depository receipt. 
 Section 1.2. Other Definitions. 

 

			
	 TERM
	  	DEFINED IN
SECTION
		
	 “Bankruptcy Law”
	  	6.1
	 “Custodian”
	  	6.1
	 “Event of Default”
	  	6.1
	 “Judgment Currency”
	  	10.16
	 “Legal Holiday”
	  	10.7  
	 “mandatory sinking fund payment”
	  	11.1  
	 “Market Exchange Rate”
	  	10.15
	 “New York Banking Day”
	  	10.16
	 “Notice Agent”
	  	2.4
	 “optional sinking fund payment”
	  	11.1  
	 “Paying Agent”
	  	2.4
	 “Registrar”
	  	2.4
	 “Required Currency”
	  	10.16
	 “successor person”
	  	5.1

  
 4 

 Section 1.3. Incorporation by Reference of Trust Indenture Act. 

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

 “indenture securities” means the Securities. 

“indenture security holder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule
under the TIA and not otherwise defined herein are used herein as so defined. 
 Section 1.4. Rules of Construction.

 Unless the context otherwise requires: 

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

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

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

(e) provisions apply to successive events and transactions. 

ARTICLE II. 
 THE
SECURITIES 
 Section 2.1. Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more Series. All Securities of a Series shall
be identical except as may be set forth or determined in the manner provided in a Board Resolution, supplemental indenture or Officer’s Certificate detailing the adoption of the terms thereof pursuant to authority granted under a Board
Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to

  
 5 

 
authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to
be determined. Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture. 

Section 2.2. Establishment of Terms of Series of Securities. 

At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case
of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.24) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board
Resolution, supplemental indenture hereto or Officer’s Certificate: 
 2.2.1. the title (which shall distinguish the
Securities of that particular Series from the Securities of any other Series) and ranking (including the terms of any subordination provisions) of the Series; 
 2.2.2. the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued; 

2.2.3. 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 Section 2.7, 2.8, 2.11, 3.6 or 9.6); 

2.2.4. the date or dates on which the principal of the Securities of the Series is payable; 

2.2.5. the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates
(including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or
dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date; 
 2.2.6. the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such 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 such Series and this Indenture may be delivered, and the method of such payment, if by wire transfer, mail or other means; 

2.2.7. if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the
Securities of the Series may be redeemed, in whole or in part, at the option of the Company; 
 2.2.8. the obligation, if any,
of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and
conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

  
 6 

 2.2.9. the dates, if any, on which and the price or prices at which the Securities of
the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 
 2.2.10. if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable; 

2.2.11. the forms of the Securities of the Series and whether the Securities will be issuable as Global Securities; 

2.2.12. if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall
be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2; 
 2.2.13. the currency
of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, and if such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency;

 2.2.14. the designation of the currency, currencies or currency units in which payment of the principal of and interest,
if any, on the Securities of the Series will be made; 
 2.2.15. if payments of principal of or interest, if any, on the
Securities of the Series are to be made in one or more currencies or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

 2.2.16. the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series
will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

2.2.17. the provisions, if any, relating to any security provided for the Securities of the Series; 

2.2.18. any addition to, deletion of 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 6.2; 
 2.2.19. any addition to, deletion of or change in the covenants set forth in Articles IV or V which applies to Securities of the Series; 

2.2.20. any Depositaries, interest rate calculation agents, exchange rate calculation agents or other agents with respect to
Securities of such Series if other than those appointed herein; 

  
 7 

 2.2.21. the provisions, if any, relating to conversion or exchange of any Securities of
such Series, including if applicable, the conversion or exchange price, the conversion or exchange period, provisions as to whether conversion or exchange will be mandatory, at the option of the Holders thereof or at the option of the Company, the
events requiring an adjustment of the conversion price or exchange price and provisions affecting conversion or exchange if such Series of Securities are redeemed; and 
 2.2.22. any other terms of the Series (which may supplement, modify or delete any provision of this Indenture insofar as it applies to such Series), including any terms that may be required under
applicable law or regulations or advisable in connection with the marketing of Securities of that Series. 
 All Securities of
any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officer’s Certificate
referred to above. 
 Section 2.3. Execution and Authentication. 

An Officer shall sign the Securities for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall
nevertheless be valid. 
 A Security shall not be valid until authenticated by the manual or facsimile signature of the Trustee
or an authenticating agent. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 
 The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officer’s
Certificate, upon receipt by the Trustee of a Company Order. Each Security shall be dated the date of its authentication. 
 The
aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officer’s Certificate
delivered pursuant to Section 2.2, except as provided in Section 2.8. 
 Prior to the issuance of Securities of any
Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on: (a) the Board Resolution, supplemental indenture hereto or Officer’s Certificate establishing the form of the Securities of
that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officer’s Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying
with Section 10.4. 
 The Trustee shall have the right to decline to authenticate and deliver any Securities of such
Series: (a) if the Trustee, being advised by counsel, determines that such 

  
 8 

 
action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents or a
committee of Responsible Officers shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities. 
 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in
this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company. 

Section 2.4. Registrar and Paying Agent. 
 The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of
such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or
upon the Company in respect of the Securities of such Series and this Indenture may be delivered (“Notice Agent”). The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange. The
Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Notice Agent. If at any time the Company shall fail to maintain any such required Registrar,
Paying Agent or Notice Agent or shall fail to furnish the Trustee with the name and 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 co-registrars, additional paying agents or additional notice agents 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 obligations to maintain a Registrar, Paying Agent and Notice Agent in each place so specified pursuant to Section 2.2 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 name or address of any such co-registrar, additional paying agent or additional notice agent. The term “Registrar” includes any co-registrar; the term
“Paying Agent” includes any additional paying agent; and the term “Notice Agent” includes any additional notice agent. The Company or any of its Affiliates may serve as Registrar or Paying Agent. 

The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Notice Agent for each Series unless another Registrar,
Paying Agent or Notice Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued. 

  
 9 

 Section 2.5. Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the
benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee in writing of any default by the Company
in making any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon
payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money. If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold
in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall serve as Paying
Agent for the Securities. 
 Section 2.6. Securityholder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and
addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least ten days before each interest payment date and at
such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities. 

Section 2.7. Transfer and Exchange. 
 Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the
Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service
charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in
connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). 
 Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days
immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any
Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part. 

  
 10 

 Section 2.8. 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 bond as may be
required by each of them to hold itself and any of its agents 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 upon its request the
Trustee shall authenticate and make available for delivery, 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 destroyed, lost or stolen Security shall
constitute an original additional contractual obligation of the Company, whether or not the 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. 
 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 2.9. Outstanding Securities. 
 The Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a
Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding. 
 If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

 If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the
Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue. 

  
 11 

 The Company may purchase or otherwise acquire the Securities, whether by open market
purchases, negotiated transactions or otherwise. A Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 
 In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal
amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity
thereof pursuant to Section 6.2. 
 Section 2.10. Treasury Securities. 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand,
authorization, direction, notice, consent or waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on
any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. 

Section 2.11. Temporary Securities. 
 Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee upon receipt of a Company Order shall authenticate
definitive Securities of the same Series and date of maturity in exchange for temporary Securities. Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities. 

Section 2.12. Cancellation. 
 The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of
transfer, exchange or payment. The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and shall destroy such canceled Securities (subject to the record retention requirement of the Exchange
Act and the Trustee) and deliver a certificate of such cancellation to the Company upon written request of the Company. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

 Section 2.13. Defaulted Interest. 
 If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to
the persons who are Securityholders of the Series on a subsequent special 

  
 12 

 
record date. The Company shall fix the record date and payment date. At least 10 days before the special record date, the Company shall mail to the Trustee and to each Securityholder of the
Series a notice that states the special record date, the payment date and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful manner. 
 Section 2.14. Global Securities. 
 2.14.1. Terms of
Securities. A Board Resolution, a supplemental indenture hereto or an Officer’s Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the
Depositary for such Global Security or Securities. 
 2.14.2. Transfer and Exchange. Notwithstanding any provisions
to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the
Depositary for such Security or its nominee only if (i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency
registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event or (ii) the Company executes and delivers to the
Trustee an Officer’s Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the
Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms. 
 Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a
nominee of such Depositary to such Depositary or another nominee of such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary. 

2.14.3. Legend. Any Global Security issued 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 the
Depositary or a nominee of the Depositary. This Security is exchangeable for Securities registered in the name of a person other than the Depositary or its nominee only in the limited circumstances described in the Indenture, and may not be
transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of
such a successor Depositary.” 
 2.14.4. Acts of Holders. The Depositary, as a Holder, may appoint agents and
otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture. 

  
 13 

 2.14.5. Payments. Notwithstanding the other provisions of this Indenture, unless
otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof. 
 2.14.6. Consents, Declaration and Directions. The Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series
represented by a Global Security as shall be specified in a written statement of the Depositary or by the applicable procedures of such Depositary with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or
directions required to be given by the Holders pursuant to this Indenture. 
 Section 2.15. CUSIP Numbers.

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

ARTICLE III. 

REDEMPTION 

Section 3.1. Notice to Trustee. 
 The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of Securities or any part thereof prior
to the Stated Maturity thereof at such time and on such terms as provided for in such Securities. If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series
of Securities pursuant to the terms of such Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Series of Securities to be redeemed. The Company shall give the notice at least 15 days before the
redemption date. 
 Section 3.2. Selection of Securities to be Redeemed. 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture hereto or an Officer’s
Certificate, if less than all the Securities of a Series are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any manner that the Trustee deems fair and appropriate, including by lot or other method, unless
otherwise required by law or applicable stock exchange requirements, subject, in the case of Global Securities, to the applicable rules and procedures of the Depositary. The Trustee shall make the selection from Securities of the Series outstanding
not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities of the 

  
 14 

 
Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to
Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and the authorized integral multiples thereof. Provisions of this Indenture that apply to Securities of a
Series called for redemption also apply to portions of Securities of that Series called for redemption. 
 Section
3.3. Notice of Redemption. 
 Unless otherwise indicated for a particular Series by Board Resolution, a supplemental
indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed. 

The notice shall identify the Securities of the Series to be redeemed and shall state: 

(a) the redemption date; 
 (b) the redemption price; 
 (c) the name and address of
the Paying Agent; 
 (d) if any Securities are being redeemed in part, the portion of the principal amount
of such Securities to be redeemed and that, after the redemption date and upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion of the original Security shall be issued in the name of the
Holder thereof upon cancellation of the original Security; 
 (e) that Securities of the Series called for
redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (f) that interest on
Securities of the Series called for redemption ceases to accrue on and after the redemption date unless the Company defaults in the deposit of the redemption price; 

(g) the CUSIP number, if any; and 

(h) any other information as may be required by the terms of the particular Series or the Securities of a Series
being redeemed. 
 At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and
at its expense, provided, however, that the Company has delivered to the Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the notice date, an Officer’s Certificate requesting that the Trustee give
such notice and setting forth the information to be stated in such notice. 

  
 15 

 Section 3.4. Effect of Notice of Redemption. 

Once notice of redemption is mailed as provided in Section 3.3, Securities of a Series called for redemption become due and payable
on the redemption date and at the redemption price. Except as otherwise provided in the supplemental indenture, Board Resolution or Officer’s Certificate for a Series, a notice of redemption may not be conditional. Upon surrender to the Paying
Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date. 
 Section
3.5. Deposit of Redemption Price. 
 On or before 11:00 a.m., New York City time, on the redemption date, the Company
shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date. 
 Section 3.6. Securities Redeemed in Part. 
 Upon surrender of a
Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered. 

ARTICLE IV. 

COVENANTS 

Section 4.1. Payment of Principal and Interest. 
 The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will duly and punctually pay the principal of and interest, if any, on the Securities of that Series in
accordance with the terms of such Securities and this Indenture. On or before 11:00 a.m., New York City time, on the applicable payment date, the Company shall deposit with the Paying Agent money sufficient to pay the principal of and interest, if
any, on the Securities of each Series in accordance with the terms of such Securities and this Indenture. 
 Section
4.2. SEC Reports. 
 To the extent any Securities of a Series are outstanding, the Company shall deliver to the
Trustee within 15 days after it files them with the SEC copies of the annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which
the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall comply with the other provisions of TIA § 314(a). Reports, information and documents filed with the SEC via the EDGAR
system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2. 
 Delivery of reports, information and documents to the Trustee under this Section 4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive or actual notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officer’s Certificates). 

  
 16 

 Section 4.3. Compliance Certificate. 

To the extent any Securities of a Series are outstanding, the Company shall deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company, an Officer’s Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to
determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his/her knowledge the Company has kept,
observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which the Officer may have knowledge). 
 The Company will, so
long as any of the Securities are outstanding, deliver to the Trustee, promptly upon becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what action the Company is taking
or proposes to take with respect thereto. 
 Section 4.4. Stay, Extension and Usury Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture or the Securities; and the Company
(to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law has been enacted. 
 Section
4.5. Corporate Existence. 
 Subject to Article V, the Company will do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence and rights (charter and statutory); provided, however, that the Company shall not be required to preserve any such right if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect to the Holders. 

ARTICLE V. 

SUCCESSORS 

Section 5.1. When Company May Merge, Etc. 
 The Company shall not consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its properties and assets to, any person (a “successor person”)
unless: 
 (a) the Company is the surviving corporation or the successor person (if other than the Company)
is a corporation organized and validly existing under the laws of any U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the Securities and under this Indenture; and 

  
 17 

 (b) immediately after giving effect to the transaction, no Default or
Event of Default, shall have occurred and be continuing. 
 The Company shall deliver to the Trustee prior to the consummation
of the proposed transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and any supplemental indenture comply with this Indenture. 

Notwithstanding the above, any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties to
the Company. Neither an Officer’s Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith. 
 Section 5.2. Successor Corporation Substituted. 
 Upon any
consolidation or merger, or any sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.1, the successor corporation formed by such consolidation or into or with which
the Company is merged or to which such sale, lease, conveyance or other disposition 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 has been named as the Company herein; provided, however, that the predecessor Company in the case of a sale, conveyance or other disposition (other than a lease) shall be released from all obligations and covenants
under this Indenture and the Securities. 
 ARTICLE VI. 
 DEFAULTS AND REMEDIES 
 Section 6.1. Events of Default. 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events,
unless in the establishing Board Resolution, supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the benefit of said Event of Default: 

(a) default in the payment of any interest on any Security of that Series when it becomes due and
payable, and continuance of such default for a period of 30 days (unless the entire amount of such payment is deposited by the Company with the Trustee or with a Paying Agent prior to 11:00 a.m., New York City time, on the 30th day of such period); or 

(b) default in the payment of principal of any Security of that Series at its Maturity; or 

  
 18 

 (c) default in the performance or breach of any covenant or warranty of
the Company in this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that
Series), which default continues uncured 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 

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

(i) commences a voluntary case, 
 (ii) consents to the entry of an order for relief against it in an involuntary case, 
 (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property, 
 (iv) makes a general assignment for the benefit of its creditors, or 
 (v) generally is unable to pay its debts as the same become due; or 

(e) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company in an involuntary case, 

(ii) appoints a Custodian of the Company or for all or substantially all of its property, or 

(iii) orders the liquidation of the Company, 
 and the order or decree remains unstayed and in effect for 60 days; or 
 (f) any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate, in
accordance with Section 2.2.18. 
 The term “Bankruptcy Law” means title 11, U.S. Code or any similar
Federal or State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

Section 6.2. 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 (other than an Event of
Default referred to in Section 6.1(d) 

  
 19 

 
or (e)) 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 (or, if any
Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series 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) and accrued and unpaid interest, if any, shall become immediately due and payable.
If an Event of Default specified in Section 6.1(d) or (e) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately
due and payable without any declaration or other act on the part of the Trustee or any Holder. 
 At any time after such a
declaration of acceleration with respect to 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 all Events of Default with respect to Securities of that Series, other than the
non-payment of the principal and interest, if any, of Securities of that Series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.13. 

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

Section 6.3. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 
 (a) 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 

(b) default is made in the payment of principal of any Security at the Maturity thereof, or 

(c) default is made in the deposit of any sinking fund payment, if any, when and as due by the terms of a Security,

 then, 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 interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and 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 the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an
express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or 

  
 20 

 
final decree and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or deemed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever situated. 
 If an Event of Default with respect
to any 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 6.4. Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be
due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention
in such proceeding or otherwise, 
 (a) to file and prove a claim for the whole amount of principal and interest
owing and unpaid in respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(b) 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 7.7. 
 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.5. 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 6.6. Application of Money Collected. 

Any money or property 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 or property on account of principal 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 7.7; and 

Second: To the payment of the amounts then due and unpaid for principal of 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 interest, respectively; and 

Third: To the Company. 
 Section 6.7. 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 

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

(c) such Holder or Holders have offered to the Trustee indemnity or security satisfactory to the Trustee against the
costs, expenses and liabilities which might be incurred by the Trustee in compliance with such request; 
 (d)
the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

  
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 (e) 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, intended and expressly covenanted by the Holder of every Security with every other Holder and the Trustee 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, 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 such Holders of the applicable Series. 
 Section 6.8. Unconditional
Right of Holders to Receive Principal 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 interest, if any, on such Security on the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in
the case of redemption, on the redemption date) 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 6.9. 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 6.10. Rights and Remedies Cumulative. 
 Except as otherwise provided
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.8, 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, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 6.11. 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. 

  
 23 

 Section 6.12. 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 

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

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

 (c) subject to the provisions of Section 6.1, the Trustee shall have the right to decline to follow any
such direction if the Trustee in good faith shall, by a Responsible Officer of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability, and 

(d) prior to taking any action as directed under this Section 6.12, the Trustee shall be entitled to indemnity
satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. 
 Section 6.13. 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 in the
payment of the principal of or interest on any Security of such Series (provided, however, that the Holders of a majority in principal amount of the outstanding Securities of any Series may rescind an acceleration and its consequences, including any
related payment default that resulted from such acceleration). 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 6.14. Undertaking
for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed
to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by
any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard
to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the 

  
 24 

 
Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the outstanding Securities
of any Series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or interest on any Security on or after the Maturity of such Security, including the Stated Maturity expressed in such Security (or, in the
case of redemption, on the redemption date). 
 ARTICLE VII. 

TRUSTEE 
 Section
7.1. Duties of Trustee. 
 (a) If an Event of Default has occurred and is continuing, the Trustee shall
exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

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

(i) The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 (ii) 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 Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such
Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or
not they conform to the form requirements of this Indenture. 
 (c) The Trustee may not be relieved from
liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (i) This paragraph does not limit the effect of paragraph (b) of this Section. 
 (ii) The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts.

 (iii) The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it
with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series 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 in accordance with Section 6.12. 

  
 25 

 (d) Every provision of this Indenture that in any way relates to the Trustee
is subject to paragraph (a), (b) and (c) of this Section. 
 (e) The Trustee may refuse to perform any
duty or exercise any right or power unless it receives indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in performing such duty or exercising such right or power. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing
with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (g) No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its
rights or powers, if adequate indemnity against such risk is not assured to the Trustee in its satisfaction. 

(h) The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections and immunities as
are set forth in paragraphs (e), (f) and (g) of this Section and in Section 7.2, each with respect to the Trustee. 
 Section 7.2. Rights of Trustee. 
 (a) The Trustee may rely
on and shall be protected in acting or refraining from acting upon any document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any
fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an
Officer’s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate or Opinion of Counsel. 

(c) The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. No Depositary shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any Depositary. 

(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be
authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence. 
 (e) 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 without willful misconduct or negligence, and in reliance thereon. 

  
 26 

 (f) The Trustee shall be under no obligation to exercise any of the rights
or powers vested in it by this Indenture at the request or direction of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which
might be incurred by it in compliance with such request or direction. 
 (g) 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. 
 (h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which
is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture. 

(i) In no event shall the Trustee be liable to any person for special, punitive, indirect, consequential or incidental
loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage. 

(j) The permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an
obligation or duty to do so. 
 Section 7.3. Individual Rights of Trustee. 

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

Section 7.4. Trustee’s Disclaimer. 
 The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it
shall not be responsible for any statement in the Securities other than its authentication. 
 Section 7.5. Notice of
Defaults. 
 If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it
is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder of the Securities of that Series notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the
Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may

  
 27 

 
withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of
Securityholders of that Series. 
 Section 7.6. Reports by Trustee to Holders. 

Within 60 days after [            ] 1 in each year, the Trustee shall transmit
by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief report dated as of such [            ] 1, in accordance with, and to the
extent required under, TIA § 313. 
 A copy of each report at the time of its mailing to Securityholders of any Series
shall be filed with the SEC and each national securities exchange on which the Securities of that Series are listed. The Company shall promptly notify the Trustee in writing when Securities of any Series are listed on any national securities
exchange. 
 Section 7.7. Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time compensation for its services as the Company and the Trustee shall from time to
time agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out of pocket expenses incurred by
it. Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel. 
 The
Company shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) against any cost, expense or liability, including taxes (other than taxes based upon, measured by or determined by the income of the
Trustee) incurred by it except as set forth in the next paragraph in the performance of its duties under this Indenture as Trustee or Agent. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company shall not relieve the Company of its obligations hereunder, unless and to the extent that the Company is materially prejudiced thereby. The Company shall defend the claim and the Trustee shall cooperate in the
defense. The Trustee may have one separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld.
This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. 
 The Company need
not reimburse any expense or indemnify against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence. 

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series. 

  
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 When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 
 The provisions of this Section shall survive the termination of this Indenture. 

Section 7.8. Replacement of Trustee. 
 A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

 The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days
prior to the date of the proposed resignation. The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company. The Company may remove the
Trustee with respect to Securities of one or more Series if: 
 (a) the Trustee fails to comply with
Section 7.10; 
 (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered
with respect to the Trustee under any Bankruptcy Law; 
 (c) a Custodian or public officer takes charge of the
Trustee or its property; or 
 (d) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of at least a majority in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a
successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to
the Company. Immediately after that, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its
succession to each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee
with respect to expenses and liabilities incurred by it for actions taken or omitted to be taken in accordance with its rights, powers and duties under this Indenture prior to such replacement. 

  
 29 

 Section 7.9. Successor Trustee by Merger, Etc. 

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to,
another corporation, the successor corporation without any further act shall be the successor Trustee, subject to Section 7.10. 
 Section 7.10. Eligibility; Disqualification. 
 This Indenture shall always
have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA § 310(b). 
 Section 7.11. Preferential Collection of Claims Against Company.

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

SATISFACTION AND DISCHARGE; DEFEASANCE 
 Section 8.1. Satisfaction and Discharge of Indenture. 
 This Indenture shall
upon Company Order cease to be of further effect (except as hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall execute instruments acknowledging satisfaction and discharge of this Indenture, when

 (a) either 
 (i) all Securities theretofore authenticated and delivered (other than Securities that have been destroyed, lost or stolen and that have been replaced or paid) have been delivered to the Trustee for
cancellation; or 
 (ii) all such Securities not theretofore delivered to the Trustee for cancellation

 (1) have become due and payable, or 

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

(3) have been called for redemption or 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, or 

  
 30 

 (4) are deemed paid and discharged pursuant to Section 8.3, as
applicable; 
 and the Company, in the case of (1), (2) or (3) above, has irrevocably deposited or caused to be deposited with the
Trustee as trust funds in trust an amount sufficient for the purpose of paying and discharging the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to the date of such
deposit (in the case of Securities which have become due and payable on or prior to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be; 

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

(c) the Company has delivered to the Trustee an Officer’s 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 7.7, and, if money shall have been deposited with the Trustee pursuant to
clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and 8.5 shall survive. 
 Section 8.2.
Application of Trust Funds; Indemnification. 
 (a) Subject to the provisions of Section 8.5, all
money deposited with the Trustee pursuant to Section 8.1, all money and U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4 and all money received by the Trustee in
respect of U.S. Government Obligations or Foreign Government Obligations deposited with the Trustee pursuant to Section 8.3 or 8.4, 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 interest for whose payment such money
has been deposited with or received by the Trustee or to make mandatory sinking fund payments or analogous payments as contemplated by Sections 8.3 or 8.4. 
 (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against U.S. Government Obligations or Foreign Government Obligations deposited
pursuant to Sections 8.3 or 8.4 or the interest and principal received in respect of such obligations other than any payable by or on behalf of Holders. 
 (c) The Trustee shall deliver or pay to the Company from time to time upon Company Order any U.S. Government Obligations or Foreign Government Obligations or money held by it as provided in Sections 8.3
or 8.4 which, in the opinion of a 

  
 31 

 
nationally recognized firm of independent certified public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, are then in excess of the amount
thereof which then would have been required to be deposited for the purpose for which such U.S. Government Obligations or Foreign Government Obligations or money were deposited or received. This provision shall not authorize the sale by the Trustee
of any U.S. Government Obligations or Foreign Government Obligations held under this Indenture. 
 Section 8.3. Legal
Defeasance of Securities of any Series. 
 Unless this Section 8.3 is otherwise specified, pursuant to
Section 2.2.20, to be inapplicable to Securities of any Series, the Company shall be deemed to have paid and discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day after the date of the deposit
referred to in subparagraph (d) hereof, and the provisions of this Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall, upon receipt of a
Company Order, execute instruments acknowledging the same), except as to: 
 (a) the rights of Holders of
Securities of such Series to receive, from the trust funds described in subparagraph (d) hereof, (i) payment of the principal of and each installment of principal of and interest on the outstanding Securities of such Series on the Maturity
of such principal or installment of principal or interest and (ii) the benefit of any mandatory sinking fund payments applicable to the Securities of such Series on the day on which such payments are due and payable in accordance with the terms
of this Indenture and the Securities of such Series; 
 (b) the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3
and 8.5; and 
 (c) the rights, powers, trust and immunities of the Trustee hereunder and the Company’s
obligations in connection therewith; 
 provided that, the following conditions shall have been satisfied: 

(d) the Company shall have deposited or caused to be irrevocably deposited (except as provided in Section 8.2(c))
with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of such Securities (i) in the case of Securities of such Series
denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign Currency (other than a composite currency), money and/or Foreign Government Obligations, which
through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no tax liability will be imposed on such Trustee), not later than one day before the due date of any
payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent public accountants or investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each
installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of all the Securities of such Series on the dates such installments of interest or principal and such sinking fund payments are due; 

  
 32 

 (e) such deposit will not result in a breach or violation of, or constitute
a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (f) no Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on the date of such deposit or during the period ending on the 91st day after such
date; 
 (g) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel to the effect that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal
income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the Securities of such Series will not recognize income, gain or loss for Federal income tax purposes as a result of such
deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 

(h) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by
the Company with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company; and 
 (i) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent provided for relating to the defeasance contemplated
by this Section have been complied with. 
 Section 8.4. Covenant Defeasance. 

Unless this Section 8.4 is otherwise specified pursuant to Section 2.2.20 to be inapplicable to Securities of any Series, the
Company may omit to comply with respect to the Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3, 4.4, 4.5, and 5.1 as well as any additional covenants specified in a supplemental indenture for such
Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.20 (and the failure to comply with any such covenants shall not constitute a Default or Event of Default with respect to such Series
under Section 6.1) and the occurrence of any event specified in a supplemental indenture for such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to Section 2.2.18 and designated as an Event
of Default shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such Series, provided that the following conditions shall have been satisfied: 

(a) With reference to this Section 8.4, the Company has deposited or caused to be irrevocably deposited (except as
provided in Section 8.2(c)) with the Trustee as trust funds in trust for the purpose of making the following payments specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in

  
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the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S. Government Obligations, or (ii) in the case of Securities of such Series denominated in a Foreign
Currency (other than a composite currency), money and/or Foreign Government Obligations, which through the payment of interest and principal in respect thereof in accordance with their terms, will provide (and without reinvestment and assuming no
tax liability will be imposed on such Trustee), not later than one day before the due date of any payment of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants or
investment bank expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal of and interest, if any, on and any mandatory sinking fund payments in respect of the Securities of such Series
on the dates such installments of interest or principal and such sinking fund payments are due; 
 (b) Such
deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 

(c) No Default or Event of Default with respect to the Securities of such Series shall have occurred and be continuing on
the date of such deposit; 
 (d) The Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such deposit and covenant defeasance had not occurred; 
 (e) The Company shall have delivered to the Trustee an Officer’s Certificate stating the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any other
creditors of the Company; and 
 (f) The Company shall have delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the covenant defeasance contemplated by this Section have been complied with. 

Section 8.5. Repayment to Company. 
 Subject to applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal and interest that remains unclaimed
for two years. After that, Securityholders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another person. 

Section 8.6. Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money deposited with respect to Securities of any Series in accordance with Section 8.1 by reason of any legal

  
 34 

 
proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under this
Indenture with respect to the Securities of such Series and under the Securities of such Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1 until such time as the Trustee or the Paying Agent is
permitted to apply all such money in accordance with Section 8.1; provided, however, that if the Company has made any payment of principal of or interest on or any Additional Amounts with respect to any Securities because of the
reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent. 

ARTICLE IX. 

AMENDMENTS AND WAIVERS 
 Section 9.1. Without Consent of Holders. 
 The Company and the Trustee may
amend or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder: 
 (a) to cure any ambiguity, defect or inconsistency; 
 (b) to comply
with Article V; 
 (c) to provide for uncertificated Securities in addition to or in place of certificated
Securities; 
 (d) to make any change that does not adversely affect the rights of any Securityholder;

 (e) to provide for the issuance of and establish the form and terms and conditions of Securities of any Series
as permitted by this Indenture; 
 (f) 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; or 
 (g) to comply with requirements of the SEC in order to effect or maintain the qualification of
this Indenture under the TIA. 
 Section 9.2. With Consent of Holders. 

The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in
principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in
Section 6.13, the 

  
 35 

 
Holders of at least a majority in principal amount of the outstanding Securities of any Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange
offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series. 
 It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be
sufficient if such consent approves the substance thereof. After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby, a notice briefly describing the
supplemental indenture or waiver. Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 

Section 9.3. Limitations. 
 Without the consent of each Securityholder affected, an amendment or waiver may not: 
 (a) reduce the principal amount of Securities whose Holders must consent to an amendment, supplement or waiver; 
 (b) reduce the rate of or extend the time for payment of interest (including default interest) on any Security; 
 (c) reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation; 

(d) reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof; 

(e) waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration); 

(f) make the principal of or interest, if any, on any Security payable in any currency other than that stated in the
Security; 
 (g) make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or 

(h) waive a redemption payment with respect to any Security, provided that such redemption is made at the Company’s
option. 

  
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 Section 9.4. Compliance with Trust Indenture Act. 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that
complies with the TIA as then in effect. 
 Section 9.5. Revocation and Effect of Consents. 

Until an amendment is set forth in a supplemental indenture or a waiver becomes effective, a consent to it by a Holder of a Security is a
continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such
Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date of the supplemental indenture or the date the waiver becomes effective. 

Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is
of the type described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a
Security that evidences the same debt as the consenting Holder’s Security. 
 Section 9.6. Notation on or Exchange of
Securities. 
 The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series
thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver. 

Section 9.7. Trustee Protected. 
 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 7.1) shall be fully protected in relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying with Section 10.4. The Trustee shall sign all supplemental indentures upon
delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee need not sign any supplemental indenture that adversely affects its rights. 

ARTICLE X. 

MISCELLANEOUS 

Section 10.1. Trust Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall
control. 

  
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 Section 10.2. Notices. 

Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in
writing and delivered in person or mailed by first-class mail: 
 if to the Company: 

Zogenix, Inc. 

12671 High Bluff Drive, Suite 200 
 San Diego, California 92130 
 Attention: Chief Financial Officer 

Telephone: (858) 259-1165 

with a copy to: 

Latham & Watkins LLP 
 12636 High Bluff Drive, Suite 400 
 San Diego, California 92130 

Attention: Cheston J. Larson 
 Telephone: (858) 523-5400 
 Facsimile: (858) 523-5450 

if to the Trustee: 
 Wilmington
Trust, National Association 
 680 Town Center Drive, Suite 600 

Costa Mesa, CA 92626 
 Attention: Corporate Trust Department 
 Telephone: (714) 384-4153 

Facsimile: (714) 384-4151 
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

Any notice or communication to a Securityholder shall be mailed by first-class mail to his address shown on the register kept by the
Registrar. Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series. 

If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether
or not the Securityholder receives it. 
 If the Company mails a notice or communication to Securityholders, it shall mail a
copy to the Trustee and each Agent at the same time. 
 Notwithstanding any other provision of this Indenture or any Security,
where this Indenture or any Security provides for notice of any event (including any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given to the Depositary for such Security
(or its designee) pursuant to the customary procedures of such Depositary. 

  
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 Section 10.3. Communication by Holders with Other Holders. 

Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series
with respect to their rights under this Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 

Section 10.4. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the
Trustee: 
 (a) an Officer’s Certificate stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied
with. 
 Section 10.5. Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a
certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 
 (a) a statement that the person making such certificate or opinion has read such covenant or condition; 
 (b) 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; 

(c) a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Section 10.6. Rules by Trustee and Agents. 
 The Trustee may make reasonable
rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable requirements for its functions. 

  
 39 

 Section 10.7. Legal Holidays. 

Unless otherwise provided by Board Resolution, Officer’s Certificate or supplemental indenture hereto for a particular Series, a
“Legal Holiday” is any day that is not a Business Day. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue for the intervening period. 
 Section 10.8. No Recourse Against Others. 

A director, officer, employee or stockholder (past or present), as such, of the Company shall not have any liability for any obligations
of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for the issue of the Securities. 
 Section 10.9. Counterparts. 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 10.10. Governing Laws. 
 THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 
 Section 10.11. No Adverse Interpretation of Other Agreements. 
 This
Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 10.12. Successors. 
 All agreements of the Company in this Indenture and the Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 

Section 10.13. Severability. 
 In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 

  
 40 

 Section 10.14. Table of Contents, Headings, Etc. 

The Table of Contents, Cross Reference Table, and headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 10.15. Securities in a Foreign Currency. 
 Unless otherwise
specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any
action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any
Series which are denominated more than one currency, then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be determined by converting any such other currency into
a currency that is designated upon issuance of any particular Series of Securities. Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this
Indenture with respect to a particular Series of Securities, such conversion shall be at the spot rate for the purchase of the designated currency as published in the The Financial Times in the “Currency Rates” section (of, if The
Financial Times is no longer published, or if such information is no longer available in The Financial Times, such source as may be selected in good faith by the Company) on any date of determination. The provisions of this paragraph shall apply in
determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture. 

All decisions and determinations provided for in the preceding paragraph shall, in the absence of manifest error, to the extent permitted
by law, be conclusive for all purposes and irrevocably binding upon the Trustee and all Holders. 
 Section 10.16. Judgment
Currency. 
 The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if
for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which
a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with
the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could
purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the
Required Currency (i) shall not be 

  
 41 

 
discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except
to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or
additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be
affected by judgment being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which
banking institutions are authorized or required by law, regulation or executive order to close. 
 Section 10.17. Force
Majeure. 
 In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted
practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 ARTICLE XI.

 SINKING FUNDS 
 Section 11.1. Applicability of Article. 
 The provisions of this Article
shall be applicable to any sinking fund for the retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to Section 2.2 and except as otherwise permitted or required by any form of Security of such Series
issued pursuant to this Indenture. 
 The minimum amount of any sinking fund payment provided for by the terms of the Securities
of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.” If
provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 11.2. Each sinking fund payment shall be applied to the redemption of Securities of any Series
as provided for by the terms of the Securities of such Series. 
 Section 11.2. Satisfaction of Sinking Fund Payments with
Securities. 
 The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities
of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund
redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment 

  
 42 

 
is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory
sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited. Such Securities shall be
received by the Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such
purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in
lieu of cash payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such
Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however,
that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of
Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company. 
 Section 11.3. Redemption of Securities for Sinking Fund. 
 Not less than 45
days (unless otherwise indicated in the Board Resolution, supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company
will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, 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 of Securities of that Series pursuant to Section 11.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund
payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not less than 30 days (unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental indenture in respect of a particular
Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof to be
given in the name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and
3.6. 

  
 43 

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

			
	ZOGENIX, INC.
		
	By:	 	  

		 	Name:
		 	Its:
	
	Wilmington Trust, National Association, as Trustee
		
	By:	 	  

		 	Name:
		 	Its:

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