Document:

EX-4.(h)

 Exhibit 4(h) 

 
  
 PARKER-HANNIFIN CORPORATION 
 AND 

[                      
      ], 
 AS TRUSTEE 

 
  

INDENTURE 

Dated as of
                    , 20             

 
  

Subordinated Debt Securities 
  

 
  

 PARKER-HANNIFIN CORPORATION 

Reconciliation and tie between Trust Indenture Act of 1939 and 

Subordinated Indenture, dated as of
                                 ,
20             
  

					
	Trust Indenture	  	 	 
	Act Section	  	Indenture Section	 
	 (S)310 (a)(1)
	  	 	609	  
	 (a)(2)
	  	 	609	  
	 (a)(3)
	  	 
 	Not
Applicable	  
  
	 (a)(4)
	  	 
 	Not
Applicable	  
  
	 (b)
	  	 	608, 610	  
		
	 (S) 311 (a)
	  	 	613	  
	 (b)
	  	 	613	  
		
	 (S) 312 (a)
	  	 	701, 702	  
	 (b)
	  	 	702	  
	 (c)
	  	 	702	  
		
	 (S) 313 (a)
	  	 	703	  
	 (b)
	  	 	703	  
	 (c)
	  	 	703	  
	 (d)
	  	 	703	  
		
	 (S) 314 (a)
	  	 	704	  
	 (b)
	  	 
 	Not
Applicable	  
  
	 (c)(1)
	  	 	102	  
	 (c)(2)
	  	 	102	  
	 (c)(3)
	  	 
 	Not
Applicable	  
  
	 (d)
	  	 
 	Not
Applicable	  
  
	 (e)
	  	 	102	  
		
	 (S)315 (a)
	  	 	601	  
	 (b)
	  	 	602, 703	  
	 (c)
	  	 	601	  
	 (d)
	  	 	601	  
	 (d)(1)
	  	 	601	  
	 (d)(2)
	  	 	601	  
	 (d)(3)
	  	 	601	  
	 (e)
	  	 	514	  
		
	 (S) 316 (a) (1) (A)
	  	 	502, 512	  
	 (a)(1)(B)
	  	 	513	  
	 (a)(2)
	  	 
 	Not
Applicable	  
  
	 (b)
	  	 	508	  
		
	 (S) 317 (a) (1)
	  	 	503	  
	 (a)(2)
	  	 	504	  
	 (b)
	  	 	1003	  
		
	 (S) 318 (a)
	  	 	107	  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION SECTION
	  	 	1	  
		
	 Section 101. Definitions
	  	 	1	  
	 Act
	  	 	2	  
	 Affiliate
	  	 	2	  
	 Attributable Debt
	  	 	2	  
	 Authenticating Agent
	  	 	2	  
	 Blockage Notice
	  	 	2	  
	 Board of Directors
	  	 	2	  
	 Board Resolution
	  	 	2	  
	 Business Day
	  	 	2	  
	 Capital Stock
	  	 	2	  
	 Commission
	  	 	2	  
	 Company
	  	 	3	  
	 Company Request
	  	 	3	  
	 Company Order
	  	 	3	  
	 Consolidated Net Tangible Assets
	  	 	3	  
	 Corporate Trust Office
	  	 	3	  
	 corporation
	  	 	3	  
	 Covenant Defeasance
	  	 	3	  
	 Defaulted Interest
	  	 	3	  
	 Default Notice
	  	 	3	  
	 Defeasance
	  	 	3	  
	 Depositary
	  	 	3	  
	 Event of Default
	  	 	3	  
	 Exchange Act
	  	 	3	  
	 Expiration Date
	  	 	3	  
	 Funded Debt
	  	 	3	  
	 Global Security
	  	 	4	  
	 Holder
	  	 	4	  
	 Indenture
	  	 	4	  
	 interest
	  	 	4	  
	 Interest Payment Date
	  	 	4	  
	 Investment Company Act
	  	 	4	  
	 Maturity
	  	 	4	  
	 Notice of Default
	  	 	4	  
	 Officers’ Certificate
	  	 	4	  
	 Opinion of Counsel
	  	 	4	  
	 Original Issue Discount Security
	  	 	5	  
	 Outstanding
	  	 	5	  
	 Paying Agent
	  	 	6	  
	 Payment Blockage Period
	  	 	6	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Person
	  	 	6	  
	 Place of Payment
	  	 	6	  
	 Predecessor Security
	  	 	6	  
	 Principal Property
	  	 	6	  
	 Redemption Date
	  	 	6	  
	 Redemption Price
	  	 	6	  
	 Regular Record Date
	  	 	6	  
	 Responsible Officer
	  	 	6	  
	 Restricted Subsidiary
	  	 	7	  
	 Securities
	  	 	7	  
	 Securities Act
	  	 	7	  
	 Security Register
	  	 	7	  
	 Security Registrar
	  	 	7	  
	 Senior Indebtedness
	  	 	7	  
	 Special Record Date
	  	 	7	  
	 Stated Maturity
	  	 	7	  
	 Subordinated Securities
	  	 	7	  
	 Subsidiary
	  	 	7	  
	 Trust Indenture Act
	  	 	7	  
	 Trustee
	  	 	7	  
	 U.S. Government Obligation
	  	 	8	  
	 Vice President
	  	 	8	  
		
	 Section 102. Compliance Certificates and Opinions
	  	 	8	  
	 Section 103. Form of Documents Delivered to Trustee
	  	 	8	  
	 Section 104. Acts of Holders; Record Dates
	  	 	9	  
	 Section 105. Notices, Etc., to Trustee and Company
	  	 	11	  
	 Section 106. Notice to Holders; Waiver
	  	 	11	  
	 Section 107. Conflict with Trust Indenture Act
	  	 	11	  
	 Section 108. Effect of Headings and Table of Contents
	  	 	12	  
	 Section 109. Successors and Assigns
	  	 	12	  
	 Section 110. Separability Clause
	  	 	12	  
	 Section 111. Benefits of Indenture
	  	 	12	  
	 Section 112. Governing Law
	  	 	12	  
	 Section 113. Legal Holidays
	  	 	12	  
		
	 ARTICLE TWO SECURITY FORMS
	  	 	12	  
		
	 Section 201. Forms Generally
	  	 	12	  
	 Section 202. Form of Face of Security
	  	 	13	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 203. Form of Reverse of Security
	  	 	14	  
	 Section 204. Form of Legend for Global Securities
	  	 	18	  
	 Section 205. Form of Trustees Certificate of Authentication
	  	 	18	  
		
	 ARTICLE THREE THE SECURITIES
	  	 	18	  
		
	 Section 301. Amount Unlimited; Issuable in Series
	  	 	18	  
	 Section 302. Denominations
	  	 	21	  
	 Section 303. Execution, Authentication, Delivery and Dating
	  	 	21	  
	 Section 304. Temporary Securities
	  	 	23	  
	 Section 305. Registration, Registration of Transfer and Exchange
	  	 	23	  
	 Section 306. Mutilated, Destroyed, Lost and Stolen Securities
	  	 	25	  
	 Section 307. Payment of Interest; Interest Rights Preserved
	  	 	25	  
	 Section 308. Persons Deemed Owners
	  	 	26	  
	 Section 309. Cancellation
	  	 	27	  
	 Section 310. Computation of Interest
	  	 	27	  
		
	 ARTICLE FOUR SATISFACTION AND DISCHARGE
	  	 	27	  
		
	 Section 401. Satisfaction and Discharge of Indenture
	  	 	27	  
	 Section 402. Application of Trust Money
	  	 	28	  
		
	 ARTICLE FIVE REMEDIES
	  	 	28	  
		
	 Section 501. Events of Default
	  	 	28	  
	 Section 502. Acceleration of Maturity; Rescission and Annulment
	  	 	30	  
	 Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee.
	  	 	31	  
	 Section 504. Trustee May File Proofs of Claim
	  	 	31	  
	 Section 505. Trustee May Enforce Claims Without Possession of Securities
	  	 	32	  
	 Section 506. Application of Money Collected
	  	 	32	  
	 Section 507. Limitation on Suits
	  	 	32	  
	 Section 508. Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	33	  
	 Section 509. Restoration of Rights and Remedies
	  	 	33	  
	 Section 510. Rights and Remedies Cumulative
	  	 	33	  
	 Section 511. Delay or Omission Not Waiver
	  	 	34	  

  
 iii

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 512. Control by Holders
	  	 	34	  
	 Section 513. Waiver of Past Defaults
	  	 	34	  
	 Section 514. Undertaking for Costs
	  	 	34	  
	 Section 515. Waiver of Usury, Stay or Extension Laws
	  	 	35	  
		
	 ARTICLE SIX THE TRUSTEE
	  	 	35	  
		
	 Section 601. Certain Duties and Responsibilities
	  	 	35	  
	 Section 602. Notice of Defaults
	  	 	35	  
	 Section 603. Certain Rights of Trustee
	  	 	35	  
	 Section 604. Not Responsible for Recitals or Issuance of Securities
	  	 	36	  
	 Section 605. May Hold Securities
	  	 	36	  
	 Section 606. Money Held in Trust
	  	 	37	  
	 Section 607. Compensation and Reimbursement
	  	 	37	  
	 Section 608. Conflicting Interests
	  	 	37	  
	 Section 609. Corporate Trustee Required; Eligibility
	  	 	37	  
	 Section 610. Resignation and Removal; Appointment of Successor
	  	 	38	  
	 Section 611. Acceptance of Appointment by Successor
	  	 	39	  
	 Section 612. Merger, Conversion, Consolidation or Succession to Business
	  	 	40	  
	 Section 613. Preferential Collection of Claims Against Company
	  	 	40	  
	 Section 614. Appointment of Authenticating Agent
	  	 	40	  
		
	 ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	42	  
		
	 Section 701. Company to Furnish Trustee Names and Addresses of Holders.
	  	 	42	  
	 Section 702. Preservation of Information; Communications to Holders
	  	 	42	  
	 Section 703. Reports by Trustee
	  	 	43	  
	 Section 704. Reports by Company
	  	 	43	  
		
	 ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	43	  
		
	 Section 801. Company May Consolidate, Etc., Only on Certain Terms
	  	 	43	  
	 Section 802. Successor Substituted
	  	 	44	  
		
	 ARTICLE NINE SUPPLEMENTAL INDENTURES
	  	 	44	  
		
	 Section 901. Supplemental Indentures Without Consent of Holders
	  	 	44	  

  
 iv 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 902. Supplemental Indentures With Consent of Holders
	  	 	45	  
	 Section 903. Execution of Supplemental Indentures
	  	 	46	  
	 Section 904. Effect of Supplemental Indentures
	  	 	47	  
	 Section 905. Conformity with Trust Indenture Act
	  	 	47	  
	 Section 906. Reference in Securities to Supplemental Indentures
	  	 	47	  
		
	 ARTICLE TEN COVENANTS
	  	 	47	  
		
	 Section 1001. Payment of Principal, Premium and Interest
	  	 	47	  
	 Section 1002. Maintenance of Office or Agency
	  	 	47	  
	 Section 1003. Money for Securities Payments to Be Held in Trust
	  	 	48	  
	 Section 1004. Existence
	  	 	49	  
	 Section 1005. Maintenance of Properties
	  	 	49	  
	 Section 1006. Payment of Taxes and Other Claims
	  	 	49	  
	 Section 1007. Restrictions on Secured Debt
	  	 	49	  
	 Section 1008. Restrictions on Sales and Leasebacks
	  	 	50	  
	 Section 1009. Statement by Officers as to Default
	  	 	52	  
	 Section 1010. Waiver of Certain Covenants
	  	 	52	  
		
	 ARTICLE ELEVEN REDEMPTION OF SECURITIES
	  	 	52	  
		
	 Section 1101. Applicability of Article
	  	 	52	  
	 Section 1102. Election to Redeem; Notice to Trustee
	  	 	52	  
	 Section 1103. Selection by Trustee of Securities to Be Redeemed
	  	 	53	  
	 Section 1104. Notice of Redemption
	  	 	53	  
	 Section 1105. Deposit of Redemption Price
	  	 	54	  
	 Section 1106. Securities Payable on Redemption Date
	  	 	54	  
	 Section 1107. Securities Redeemed in Part
	  	 	55	  
		
	 ARTICLE TWELVE SINKING FUNDS
	  	 	55	  
		
	 Section 1201. Applicability of Article
	  	 	55	  
	 Section 1202. Satisfaction of Sinking Fund Payments with Securities
	  	 	55	  
	 Section 1203. Redemption of Securities for Sinking Fund
	  	 	55	  
		
	 ARTICLE THIRTEEN DEFEASANCE AND COVENANT DEFEASANCE
	  	 	56	  
		
	 Section 1301. Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	56	  

  
 v 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Section 1302. Defeasance and Discharge
	  	 	56	  
	 Section 1303. Covenant Defeasance
	  	 	56	  
	 Section 1304. Conditions to Defeasance or Covenant Defeasance
	  	 	57	  
	 Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions
	  	 	59	  
	 Section 1306. Reinstatement
	  	 	59	  
		
	 ARTICLE FOURTEEN SUBORDINATION OF SECURITIES
	  	 	60	  
		
	 Section 1401. Applicability of Article; Agreement To Subordinate
	  	 	60	  
	 Section 1402. Liquidation, Dissolution, Bankruptcy
	  	 	60	  
	 Section 1403. Default on Senior Indebtedness
	  	 	60	  
	 Section 1404. Acceleration of Payment of Securities
	  	 	61	  
	 Section 1405. When Distribution Must Be Paid Over
	  	 	61	  
	 Section 1406. Subrogation
	  	 	61	  
	 Section 1407. Relative Rights
	  	 	62	  
	 Section 1408. Subordination May Not Be Impaired By Company
	  	 	62	  
	 Section 1409. Rights of Trustee and Paying Agent
	  	 	62	  
	 Section 1410. Article Fourteen Not to Prevent Defaults or Limit Right to Accelerate
	  	 	62	  
	 Section 1411. Trust Moneys Not Subordinated
	  	 	63	  
	 Section 1412. Trustee Entitled to Rely
	  	 	63	  
	 Section 1413. Trustee to Effectuate Subordination
	  	 	63	  
	 Section 1414. Trustee Not Fiduciary for Holders of Senior Indebtedness
	  	 	63	  
	 Section 1415. Reliance by Holders of Senior Indebtedness on Subordination Provisions
	  	 	64	  

  
 vi 

 INDENTURE, dated as of
                                 ,
20         between Parker-Hannifin Corporation, a corporation duly organized and existing under the laws of the State of Ohio (herein called the “Company”), having its principal office at 6035
Parkland Boulevard, Cleveland, Ohio 44124, and [                    ], as Trustee (herein called the “Trustee”) 

RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its debentures, notes or other evidences of indebtedness (herein called the
“Securities”) to be issued in one or more series as provided in this Indenture. 
 All things necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE
WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is
mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows: 

ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION SECTION 
 Section 101. Definitions.  
 For all purposes of this Indenture, except
as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this
Article have the meanings assigned to them in this Article and include the plural as well as the singular; 
 (2)
all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with U.S. generally accepted accounting principles, and, except as otherwise herein expressly
provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation; 

(4) unless the context otherwise requires, any reference to an Article or a Section refers to an Article or a Section, as
the case may be, of this Indenture; and 
 (5) the words “herein”, “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

 “Act”, when used with respect to any Holder, has the meaning specified in
Section 104. 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Attributable Debt” means, as to any particular lease under which any Person is at the time liable and at any date as of which
the amount thereof is to be determined, the total net amount of rent required to be paid by such Person under such lease during the remaining primary term thereof, discounted from the respective due dates thereof to such date at a rate per annum
equal to the weighted average yield to maturity of the Securities calculated in accordance with generally accepted financial practices. The net amount of rent required to be paid under any such lease for any such period shall be the aggregate amount
of the rent payable by the lessee with respect to such period after excluding amounts required to be paid on account of maintenance and repairs, insurance, taxes, assessments, water rates and similar charges. In the case of any lease which is
terminable by the lessee upon the payment of a penalty, such net amount shall also include the amount of such penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so
terminated. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to act
on behalf of the Trustee to authenticate Securities of one or more series. 
 “Blockage Notice” has the meaning
specified in Section 1403. 
 “Board of Directors” means either the board of directors of the Company or any duly
authorized committee of that board. 
 “Board Resolution” means a copy of a resolution certified by the Secretary or
an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

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

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

  
 2 

 “Company” means the Person named as the “Company” in the first paragraph
of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” or “Company Order” means a written request or order signed in the name of the Company by its
Chairman of the Board, its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 
 “Consolidated Net Tangible Assets” means the aggregate amount of assets (less applicable reserves and other properly deductible items) after deducting therefrom (i) all liabilities other
than deferred income taxes, Funded Debt and shareholders’ equity (including all preferred stock whether or not redeemable) and (ii) all goodwill, trade names, trademarks, patents, organization expenses and other like intangibles, all as
set forth on the most recent balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with generally accepted accounting principles. 
 “Corporate Trust Office” means the principal office of the Trustee in
[                    ] at which at any particular time its corporate trust business shall be administered. 

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

“Covenant Defeasance” has the meaning specified in Section 1303. 

“Defaulted Interest” has the meaning specified in Section 307. 

“Default Notice” has the meaning specified in Section 1403. 

“Defeasance” has the meaning specified in Section 1302. 

“Depositary” means, with respect to Securities of any series issuable in whole or in part in the form of one or more Global
Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. 
 “Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time
to time. 
 “Expiration Date” has the meaning specified in Section 104. 

“Funded Debt” means (i) all indebtedness for money borrowed having a maturity of more than 12 months from the date as of
which the determination is made or having a maturity of 12 months or less but by its terms being renewable or extendible beyond 12 months from such date at the option of the borrower and (ii) rental obligations payable more than
12 months from 

  
 3 

 
such date under leases which are capitalized in accordance with generally accepted accounting principles (such rental obligations to be included as Funded Debt at the amount so capitalized at the
date of such computation and to be included for the purposes of the definition of Consolidated Net Tangible Assets both as an asset and as Funded Debt at the respective amounts so capitalized). 

“Global Security” means a Security that evidences all or part of the Securities of any series and bears the legend set forth in
Section 204 (or such legend as may be specified as contemplated by Section 301 for such Securities). 

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

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 301. 

“interest”, when used with respect to an Original Issue Discount Security which by its terms bears interest only after
Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with respect to any Security,
means the Stated Maturity of an installment of interest on such Security. 
 “Investment Company Act” means the
Investment Company Act of 1940 and any statute successor thereto, in each case as amended from time to time. 

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

“Notice of Default” means a written notice of the kind specified in Section 501(4) or 501(5). 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President or a Vice President, and by
the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. One of the officers signing an Officer’s Certificate given pursuant to Section 1009 shall be the principal
executive, financial or accounting officer of the Company. 
 “Opinion of Counsel” means a written opinion of counsel,
who may be counsel for the Company, and who shall be acceptable to the Trustee. 

  
 4 

 “Original Issue Discount Security” means any Security which provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
 “Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 

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

(2) Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the
Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities; provided, however, that, if such Securities are
to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 
 (3) Securities as to which Defeasance has been effected pursuant to Section 1302; and 
 (4) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any
such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; 

provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any
request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be the amount of the
principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of such date, the principal amount payable at the Stated Maturity of a Security is
not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by Section 301, (C) the principal amount of a Security denominated in one or
more foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner provided as contemplated by Section 301, of the principal amount of such Security
(or, in the case of a Security described in clause (A) or (B) above, of the amount determined as provided in such clause), and (D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or
other action, only Securities which the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

  
 5 

 “Paying Agent” means any Person authorized by the Company to pay the principal of
or any premium or interest on any Securities on behalf of the Company. 
 “Payment Blockage Period” has the meaning
specified in Section 1403. 
 “Person” means any individual, corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place
of Payment”, when used with respect to the Securities of any series, means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301.

 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the
same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be
deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal Property” means
any manufacturing or processing plant or warehouse owned at the date hereof or hereafter acquired by the Company or any Restricted Subsidiary of the Company which is located within the United States of America and the gross book value (including
related land and improvements thereon and all machinery and equipment included therein without deduction of any depreciation reserves) of which on the date as of which the determination is being made exceeds 1% of Consolidated Net Tangible Assets,
other than (i) any property which in the opinion of the Board of Directors is not of material importance to the total business conducted by the Company as an entirety or (ii) any portion of a particular property which is similarly found
not to be of material importance to the use or operation of such property. 
 “Redemption Date”, when used with
respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price”, when used with respect to any Security to be redeemed, means the price at which it is to be redeemed
pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as contemplated by Section 301. 
 “Responsible
Officer”, when used with respect to the Trustee, means the chairman or any vice-chairman of the board of directors, the chairman or any vice-chairman of the executive committee of the board of directors, the chairman of the trust committee, the
president, any vice president, the secretary, any assistant secretary, the treasurer, any assistant treasurer, the cashier, any assistant cashier, any trust officer or assistant trust officer, the controller or any assistant controller or any other
officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because
of his knowledge of and familiarity with the particular subject. 

  
 6 

 “Restricted Subsidiary” means a Subsidiary of the Company (i) substantially
all the property of which is located, or substantially all the business of which is carried on, within the United States of America and (ii) which owns a Principal Property. 

“Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities
authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933 and any statute
successor thereto, in each case as amended from time to time. 
 “Security Register” and “Security
Registrar” have the respective meanings specified in Section 305. 
 “Senior Indebtedness” means, as to any
series of Securities subordinated pursuant to the provisions of Article Fourteen, the Indebtedness of the Company identified as Senior Indebtedness in the resolution of the Board of Directors and accompanying Officers’ Certificate or
Supplemental Indenture setting forth the terms, including as to subordination, of such series. 
 “Special Record
Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 307. 

“Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means
the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
 “Subordinated Securities” has the meaning specified in Section 1401. 
 “Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company
and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such
voting power by reason of any contingency. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended,
as in force at the date as of which this instrument was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, Trust Indenture Act means, to the extent required by any such amendment, the Trust
Indenture Act of 1939 as so amended. 
 “Trustee” means the Person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at
any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to Securities of that series. 

  
 7 

 “U.S. Government Obligation” has the meaning specified in Section 1304.

 “Vice President”, when used with respect to the Company or the Trustee, means any vice president, whether or not
designated by a number or a word or words added before or after the title “vice president”. 
 Section 102. Compliance
Certificates and Opinions.  
 Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act and this Indenture. Each such certificate or opinion shall be given in the form of an
Officers’ Certificate, if to be given by an officer of the Company, or an Opinion of Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture.

 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except
for certificates provided for in Section 1009) shall include, 
 (1) a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(3) a statement that, in the opinion of each such individual, he has made such examination or investigation as is
necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 Section 103. Form of Documents Delivered to Trustee.  
 In any case
where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or
covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or
several documents. 

  
 8 

 Any certificate or opinion of an officer of the Company may be based, insofar as it relates
to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon
which his certificate or opinion is based are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the
Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with
respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications,
requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 Section 104. Acts of Holders; Record Dates.  
 Any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section.

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

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

Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Security shall bind every future
Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Trustee or the Company in
reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company may set any day as a record
date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to
be given, made or taken by Holders of Securities of such series; provided, however, that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice,
declaration, request or 

  
 9 

 
direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other
Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date; provided, however, that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date
by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has
previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any
action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall
cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106.

 The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any
series entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2) or
(iv) any direction referred to in Section 512, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no
other Holders, shall be entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided, however, that no such action shall be effective hereunder unless taken on or
prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for
any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall
be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the
Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company in writing and to each Holder of Securities of the relevant series in the
manner set forth in Section 106. 
 With respect to any record date set pursuant to this Section, the party hereto which
sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided, however, that no such change shall be effective unless notice of the proposed
new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the existing Expiration Date. If an Expiration Date is not
designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with respect thereto,
subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date. 

  
 10 

 Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder
with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of
such principal amount. 
 Section 105. Notices, Etc., to Trustee and Company.  

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder or by the
Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Administration, or 

(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in
writing to the Trustee by the Company. 
 Section 106. Notice to Holders; Waiver.  

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

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice
by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 
 Section 107. Conflict with Trust Indenture Act.  
 If any provision
hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes
any provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 

  
 11 

 Section 108. Effect of Headings and Table of Contents.  

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

 Section 109. Successors and Assigns.  
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 110. Separability Clause.  
 In case any provision in this
Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 111. Benefits of Indenture.  
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or
equitable right, remedy or claim under this Indenture. 
 Section 112. Governing Law.  

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

Section 113. Legal Holidays.  
 In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this
Indenture or of the Securities (other than a provision of any Security which specifically states that such provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any) need not be made at such Place of
Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity. 

ARTICLE TWO 

SECURITY FORMS 

Section 201. Forms Generally.  
 The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established by or pursuant to a Board Resolution or in one or more indentures
supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any securities 

  
 12 

 
exchange or Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of
any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the
delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 
 The
definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities.

 Section 202. Form of Face of Security.  
 [Insert any legend required by the Internal Revenue Code and the regulations thereunder] 
 PARKER-HANNIFIN CORPORATION 
 [Title of Securities] 

 

			
	 No.                
	  	$                

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

  
 13 

 [If the Security is not to bear interest prior to Maturity, insert—The principal of
this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of
    % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal or
premium shall be payable on demand.] 
 Payment of the principal of (and premium, if any) and [if applicable, insert—any
such] interest on this Security will be made at the office or agency of the Company maintained for that purpose in
                    , in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts [if applicable, insert-; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security
Register]. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 

Dated: 
  

			
	PARKER-HANNIFIN CORPORATION
		
	By 	 	 
		 	

  

	
	 Attest:

	
	  

 Section 203. Form of Reverse of Security.  

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of                     
        , 20    (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and
                    , as Trustee (herein called the “Trustee”, which term includes any successor trustee under the
Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable, insert—, limited in aggregate principal amount to
$                    .] 

  
 14 

 [If applicable, insert—The Securities of this series are subject to redemption upon not
less than 30 days’ notice by mail, [if applicable, insert—(1) on                      in any year commencing with
the year          and ending with the year          through operation of the sinking fund for this series at a Redemption Price equal to 100% of the
principal amount, and (2)] at any time [if applicable, insert—on or after                     , 20    ,
as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount) : If redeemed [on or before
                    ,     %, and if redeemed] during the 12-month period beginning of the years
indicated. 
  

							
	 	  	Redemption	  	 	  	Redemption
	 Year
	  	 Price
	  	 Year
	  	 Price

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

[If applicable, insert—The Securities of this series are subject to redemption upon not less than 30 days’ notice by mail,
(1) on              in any year commencing with the year              and ending with the year
             through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the
principal amount) set forth in the table below, and (2) at any time[if applicable, insert—(on or after              as a whole or in part, at the election of the Company,
at the Redemption Prices for redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
             of the years indicated. 
  

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

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

  
 15 

 [If applicable, insert—Notwithstanding the foregoing, the Company may not, prior to
                    , redeem any Securities of this series as contemplated by [if applicable, insert—Clause (2) of] the
preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial
practice) of less than     % per annum.] 
 [If applicable, insert—The sinking fund for this
series provides for the redemption on                      in each year beginning with the year     and
ending with the year         of [if applicable, insert—not less than]
                    $ [(“mandatory sinking fund”) and not more than
$                    ] aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed by the Company
otherwise than through [if applicable, insert—mandatory] sinking fund payments may be credited against subsequent [if applicable, insert—mandatory] sinking fund payments otherwise required to be made —[if applicable, insert—in
the inverse order in which they become due.] 
 [If the Security is subject to redemption of any kind, insert—In the event
of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.] 

[If applicable, insert—The Indenture contains provisions for defeasance at any time of [the entire indebtedness of this Security[
[or] [certain restrictive covenants and Events of Default with respect to this Security[ [,in each case] upon compliance with certain conditions set forth in the Indenture.] 
 [If the Security is not an Original Issue Discount Security, insert—If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of
this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 
 [If the Security is
an Original Issue Discount Security, insert—If an Event of Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. Such amount shall be equal to—insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue
principal, premium and interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the
Securities of this series shall terminate.] 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of
66 2/3% in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the
time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and 

  
 16 

 
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default
as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and
shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment
of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the
times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any
premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series, and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

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

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 17 

 All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 
 Section 204. Form of Legend for Global Securities.  

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Global Security authenticated
and delivered hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 Section 205. Form of Trustees Certificate of Authentication.  
 The
Trustee’s certificate of authentication shall be in substantially the following form: 
 This is one of the Securities of
the series designated therein referred to in the within-mentioned Indenture. 
  

			
	[                    ], as Trustee
		
	By 	 	 
		 	Authorized Officer

 ARTICLE THREE 
 THE SECURITIES 
 Section 301. Amount Unlimited; Issuable in Series. 

 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. The
Securities shall be subordinated in right of payment to Senior Indebtedness as provided in Article Fourteen. 
 The
Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in
one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 

  
 18 

 (1) the title of the Securities of the series (which shall distinguish the
Securities of the series from Securities of any other series); 
 (2) any limit upon the aggregate principal
amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to Section 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
 (4) the date or dates on which the principal of the Securities of the series is payable; 
 (5) the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest
shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 
 (6)
the place or places where the principal of and any premium and interest, if any, on any Securities of the series shall be payable, where Securities of the series may be surrendered for exchange where Securities of that series that are convertible or
exchangeable may be surrendered for conversion or exchange, as applicable, and where notices or demands to or upon the Company in respect of the Securities of series and this Indenture may be served; 

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

(8) the obligation, if any, of the Company to redeem or purchase any Securities of the series pursuant to any sinking fund
or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in whole or in
part, pursuant to such obligation; 
 (9) if other than denominations of $1,000 and any integral multiple
thereof, the denominations in which any Securities of the series shall be issuable; 
 (10) if the amount of
principal of or any premium or interest on any Securities of the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall be determined; 

  
 19 

 (11) if other than the currency of the United States of America, the
currency, currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United States of America for any
purpose, including for purposes of the definition of Outstanding in Section 101; 
 (12) if the principal of
or any premium or interest on any Securities of the series is to be payable, at the election of the Company or the Holder thereof, in one or more currencies or currency units other than that or those in which such Securities are stated to be
payable, the currency, currencies or currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such
election is to be made and the amount so payable (or the manner in which such amount shall be determined); 

(13) if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the
series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (14) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be
deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall
be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 

(15) if applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to
Section 1302 or Section 1303 or both such Sections and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 

(16) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more
Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 204 and any
circumstances in addition to or in lieu of those set forth in clause (2) of the last paragraph of Section 305 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any transfer of such Global
Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof; 
 (17) any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the
principal amount thereof due and payable pursuant to Section 502; 

  
 20 

 (18) any addition to or change in the covenants set forth in
Article Ten which applies to Securities of the series; 
 (19) if the Securities of the series are to be
convertible into or exchangeable for any securities or property of any Person (including the Company), the terms and conditions upon which such Securities of the series will be so convertible or exchangeable (including, without limitation, the
initial conversion price or rate, the “conversion period”, the conversion agent, if any, adjustments of the applicable conversion price or rate and any requirements with respect to the reservation of shares of Securities for purposes of
conversion); and 
 (20) any other terms of the series (which terms shall not be inconsistent with the provisions
of this Indenture), except as permitted by Section 901(5). 
 All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the Officers’ Certificate
referred to above or in any such indenture supplemental hereto. 
 If any of the terms of the series are established by action
taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’
Certificate setting forth the terms of the series. 
 Section 302. Denominations.  

The Securities of each series shall be issuable in only registered form without coupons and only in such denominations as shall be
specified as contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple
thereof. 
 Section 303. Execution, Authentication, Delivery and Dating.  

The Securities shall be executed on behalf of the Company by its Chairman of the Board, its President or one of its Vice Presidents, under
its corporate seal reproduced thereon attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile. 

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

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If
the form or terms of the Securities of the series have been established 

  
 21 

 
by or pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in
relation to such Securities, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 

(1) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by
Section 201, that such form has been established in conformity with the provisions of this Indenture; 
 (2)
if the terms of such Securities have been established by or pursuant to Board Resolution as permitted by Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 

(3) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and
subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles. 
 If
such form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the
Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 
 Notwithstanding the
provisions of Section 301 and of the preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to
Section 301 or the Company Order and Opinion of Counsel otherwise required pursuant to such preceding paragraph at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication
upon original issuance of the first Security of such series to be issued. 
 Each Security shall be dated the date of its
authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the
benefits of this Indenture. 

  
 22 

 Section 304. Temporary Securities.  

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

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
 Section 305.
Registration, Registration of Transfer and Exchange.  
 The Company shall cause to be kept at the Corporate Trust Office
of the Trustee a register (the register maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and
transfers of Securities as herein provided. 
 Upon surrender for registration of transfer of any Security of a series at the
office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series,
of any authorized denominations and of like tenor and aggregate principal amount. 
 At the option of the Holder, Securities of
any series may be exchanged for other Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities
are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

  
 23 

 No service charge shall be made for any registration of transfer or exchange of Securities,
but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304,
906 or 1107 not involving any transfer. 
 If the Securities of any series (or any series and specified tenor) are to be
redeemed in part, the Company shall not be required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be,) during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer
of or exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The provisions of clauses (1), (2), (3) and (4) below shall apply only to Global Securities: 
 (1) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a
nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 
 (2) Notwithstanding any other provision in this Indenture, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may
be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary (i) has notified the Company that it is unwilling or unable to continue as Depositary for such
Global Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Security or (C) there shall exist such
circumstances, if any, in addition to or in lieu of the foregoing as have been specified for this purpose as contemplated by Section 301. 
 (3) Subject to clause (2) above, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion
thereof shall be registered in such names as the Depositary for such Global Security shall direct. 
 (4) Every
Security authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be
authenticated and delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

  
 24 

 Section 306. Mutilated, Destroyed, Lost and Stolen Securities.  

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

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

 Every new Security of any series issued pursuant to this Section in lieu of any 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 307. Payment of Interest; Interest Rights Preserved.  
 Except
as otherwise provided as contemplated by Section 301 with respect to any series of Securities, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 

  
 25 

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

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such
series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in
writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the
date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Securities of such series in the manner set forth in Section 106, not less than 10 days prior
to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 

(2) The Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to
this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this
Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security. 
 Section 308. Persons Deemed Owners.  
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as
the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

  
 26 

 Section 309. Cancellation.  

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

Section 310. Computation of Interest.  
 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day
months. 
 ARTICLE FOUR 
 SATISFACTION AND DISCHARGE 
 Section 401. Satisfaction and Discharge of Indenture.
 
 This Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of
registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 

(A) all Securities theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or stolen and
which have been replaced or paid as provided in Section 306 and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from
such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 
 (B) (all such
Securities not theretofore delivered to the Trustee for cancellation 
 (i) have become due and payable, 

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

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company, 

  
 27 

 and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited
with the Trustee as trust funds in trust money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date
of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 
 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and
discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the
obligations of the Company to the Trustee under Section 607, the obligations of the Trustee to any Authenticating Agent under Section 614 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause
(1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive. 

Section 402. Application of Trust Money.  
 Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the
provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and
any premium and interest for whose payment such money has been deposited with the Trustee. 
 ARTICLE FIVE 

REMEDIES 

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

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

  
 28 

 (2) default in the payment of the principal of or any premium on any Security of that series
at its Maturity; 
 (3) default in the deposit of any sinking fund payment, when and as due by the terms of a Security of that
series; 
 (4) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a
covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Securities other than that series),
and continuance of such default or breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 10% 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; 

(5) a default under any bond, debenture, note or other evidence of indebtedness for money borrowed in an aggregate principal amount
exceeding $10,000,000 by the Company or any Restricted Subsidiary (including a default with respect to Securities of any series other than that series) or under any mortgage, indenture or instrument (including this Indenture) under which there may
be issued or by which there may be secured or evidenced any indebtedness for money borrowed in an aggregate principal amount exceeding $10,000,000 by the Company or any Restricted Subsidiary whether such indebtedness now exists or shall hereafter be
created, which default shall have resulted in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, without such indebtedness having been discharged, or such
acceleration having been rescinded or annulled, within a period of 10 days after there shall have 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 10% in
principal amount of the Outstanding Securities of that series a written notice specifying such default and requiring the Company to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled, as the case may be,
and stating that such notice is a “Notice of Default” hereunder; provided, however, that, subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have knowledge of such default unless either (A) a
Responsible Officer of the Trustee shall have actual knowledge of such default or (B) the Trustee shall have received written notice thereof from the Company, from any Holder, from the holder of any such indebtedness or from the trustee under
any such mortgage, indenture or other instrument; 
 (6) the entry by a court having jurisdiction in the premises of (A) a
decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a
bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 60 consecutive days; 

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

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

Section 502. Acceleration of Maturity; Rescission and Annulment.  
 If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then and 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 Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the
terms thereof) of all 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) shall
become immediately due and payable. 
 At any time after such a declaration of acceleration with respect to Securities of any
series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series,
by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if: 
 (1) the
Company has paid or deposited with the Trustee a sum sufficient to pay; 
 (A) all overdue interest on all
Securities of that series, 
 (B) the principal of and any premium on any Securities of that series which have
become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 

  
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 (C) to the extent that payment of such interest is lawful, interest upon
overdue interest at the rate or rates prescribed therefor in such Securities, and 
 (D) all sums paid or
advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of
acceleration, have been cured or waived as provided in Section 513. 
 No such rescission shall affect any subsequent default or impair any
right consequent thereon. 
 Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee.  

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

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

 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and
payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and any premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee
may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 Section 504. Trustee May File Proofs of Claim.  
 In case of any
judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions
authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable
on any such claims and to distribute the same; and any 

  
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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 607. 
 No provision of this Indenture shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee
to vote in respect of the claim of any Holder in any such proceeding; provided, however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or
other similar committee. 
 Section 505. 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 506. Application of Money Collected.  
 Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of
principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 

FIRST: To the payment of all amounts due the Trustee under Section 607; and 

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

Section 507. Limitation on Suits.  
 No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless 
 (1) such Holder has previously given written notice to the Trustee of a continuing Event of
Default with respect to the Securities of that series; 

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

(3) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities
to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no direction
inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and
ratable benefit of all of such Holders. 
 Section 508. Unconditional Right of Holders to Receive Principal, Premium and Interest. 

 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities 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 509. 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 510. Rights and Remedies Cumulative.  
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 306, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

  
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 Section 511. Delay or Omission Not Waiver.  

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default
shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as
often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 512. 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, however, that 

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

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

Section 513. Waiver of Past Defaults.  
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder
with respect to such series and its consequences, except a default 
 (1) in the payment of the principal of or any premium or
interest on any Security of such series, or 
 (2) in respect of a covenant or provision hereof which under Article Nine
cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 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 514. Undertaking for Costs.  

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in the
Trust Indenture Act; provided, however, that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company. 

  
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 Section 515. Waiver of Usury, Stay or Extension Laws.  

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

THE TRUSTEE 

Section 601. Certain Duties and Responsibilities.  
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 
 Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the
provisions of this Section. 
 Section 602. Notice of Defaults.  

If a default occurs hereunder with respect to Securities of any series, the Trustee shall give to Holders of Securities of such series
notice of such default as to the extent provided by the Trust Indenture Act; provided, however, that;, in the case of any default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders
shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect
to Securities of such series. 
 Section 603. Certain Rights of Trustee.  

Subject to the provisions of Section 601: 
 (1) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order,
bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

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

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

(4) the Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless
such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

(6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or
attorney; and 
 (7) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder. 

Section 604. Not Responsible for Recitals or Issuance of Securities.  

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the
statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 605. May Hold Securities.  
 The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities
and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 

  
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 Section 606. Money Held in Trust.  

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee
shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company. 
 Section 607.
Compensation and Reimbursement.  
 The Company agrees 

(1) to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which
compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any
provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and 

(3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without
negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the
exercise or performance of any of its powers or duties hereunder. 
 Section 608. Conflicting Interests.  

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have
a conflicting interest by virtue of being a trustee under this Indenture with respect to Securities of more than one series. 

Section 609. Corporate Trustee Required; Eligibility.  
 There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may be Trustee hereunder for Securities of one or more other series. Each Trustee
shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of condition at least annually, pursuant to law or to the
requirements of its supervising or examining authority, then for the purposes of this Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this Article. 

  
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 Section 610. Resignation and Removal; Appointment of Successor.  

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until
the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.
If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 The Trustee
may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. 

If at any time: 
 (1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or

 (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written
request therefor by the Company or by any such Holder, or 
 (3) the Trustee shall become incapable of acting or
shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, 
 then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with respect to all
Securities, or (B) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the
removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 If the Trustee
shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor
Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may he appointed with respect to the Securities of one or more or all of such series and that at any time there shall be
only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy,
a 

  
 38 

 
successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to
the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 611, become the successor Trustee with respect to the
Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and accepted
appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 The Company shall give
notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series Holders of Securities of such series in the manner
provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 Section 611. Acceptance of Appointment by Successor.  
 In case of the
appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee;
but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 
 In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to
the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to
transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates,
(2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture

  
 39 

 
the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee,
such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all Property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates. 
 Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully
and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 

No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article. 
 Section 612. Merger, Conversion, Consolidation or Succession to Business.  

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities. 
 Section 613. Preferential Collection of Claims Against Company.  

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

Section 614. Appointment of Authenticating Agent.  
 The Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such
series issued upon original issue and upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and
obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such
reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall

  
 40 

 
be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of
condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section. 
 Any corporation into which an Authenticating Agent
may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or
corporate trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part
of the Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof
to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such
a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall
give notice of such appointment in the manner provided in Section 106 to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Any successor Authenticating Agent upon acceptance of its appointment
hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the
provisions of this Section. 
 The Trustee agrees to pay to each Authenticating Agent from time to time reasonable compensation
for its services under this Section, and the Trustee shall be entitled to be reimbursed for such payments, subject to the provisions of Section 607. 
 If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternative certificate of authentication in the following form: 
 This is one of the Securities of the
series designated therein referred to in the within-mentioned Indenture. 

  
 41 

 
			
	[TRUSTEE], As Trustee
		
	By 	 	 
		 	As Authenticating Agent
		
	By 	 	 
		 	Authorized Officer

 ARTICLE SEVEN 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 Section 701. Company to
Furnish Trustee Names and Addresses of Holders.  
 The Company will furnish or cause to be furnished to the Trustee:

 (1) semi-annually, not later than June 15 and December 15 in each year, a list, in such form as the
Trustee may reasonably require, of the names and addresses of the Holders of Securities of each series as of the preceding June 1 or December 1, as the case may be, and 

(2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any
such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 excluding
from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 
 Section 702. Preservation of
Information; Communications to Holders.  
 The Trustee shall preserve, in as current a form as is reasonably practicable,
the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may
destroy any list furnished to it as provided in Section 701 upon receipt of a new list so furnished. 
 The rights of
Holders to communicate with other Holders with respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

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

  
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 Section 703. Reports by Trustee.  

The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant
to the Trust Indenture Act at the time and in the manner provided pursuant thereto. 
 A copy of each such report shall, at the
time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock
exchange. 
 Section 704. Reports by Company.  
 The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust
Indenture Act at the time and in the manner provided pursuant to the Trust Indenture Act; provided, however, that any such information, document or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange
Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission. 

ARTICLE EIGHT 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 801. Company May
Consolidate, Etc., Only on Certain Terms.  
 The Company shall not consolidate with or merge into any other Person or
convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company or convey, transfer or lease its properties and assets
substantially as an entirety to the Company, unless: 
 (1) in case the Company shall consolidate with or merge
into another Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or
transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of the United States of America, any State thereof
or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on
all the Securities and the performance or observance of every covenant of this Indenture on t he part of the Company to be performed or observed; 
 (2) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or any Subsidiary as a result of such transaction as having been incurred
by the Company or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; 

  
 43 

 (3) if, as a result of any such consolidation or merger or such
conveyance, transfer or lease, properties or assets of the Company would become subject to a mortgage, pledge, lien, security interest or other encumbrance which would not be permitted by this Indenture, the Company or such successor Person, as the
case may be, shall take such steps as shall be necessary effectively to secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and 

(4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided
for relating to such transaction have been complied with. 
 Section 802. Successor Substituted.  

Upon any consolidation of the Company with or merger of the Company into any other Person or any conveyance, transfer or lease of the
properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or Lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE NINE

 SUPPLEMENTAL INDENTURES 
 Section 901. Supplemental Indentures Without Consent of Holders.  

Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company herein and in the Securities; 

(2) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such
covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company;

  
 44 

 (3) to add any additional Events of Default for the benefit of the Holders
of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such
series); 
 (4) to add to or change any of the provisions of this Indenture to such extent as shall be necessary
to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; 

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

(6) to secure the Securities pursuant to the requirements of Section 1007 or otherwise; 

(7) to establish the form or terms of Securities of any series as permitted by Sections 201 and 301, including the
provisions and procedures relating to Securities convertible into or exchangeable for any securities of any Person (including the Company); 
 (8) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; 

(9) to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any
other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided, however, that such action pursuant to this clause (9) shall not adversely affect the interests of the Holders
of Securities of any series in any material respect. 
 Section 902. Supplemental Indentures With Consent of Holders.  

With the consent of the Holders of not less than 66 2/3% in principal amount of the Outstanding Securities of each series affected by such
supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 

  
 45 

 (1) change the Stated Maturity of the principal of, or any installment of
principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any
other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change any Place of Payment where, or the coin or currency in which, any Security or any premium or the
interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date) or adversely effect any right to
convert or exchange any Security as may be provided pursuant to Section 301 herein; 
 (2) reduce the
percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain
provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture; 
 (3) modify any of the provisions of this Section, Section 513 or Section 1010, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be
modified or waived without the consent of the Holder of each Outstanding Security affected thereby, provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the
Trustee” and concomitant changes in this Section and Section 1010, or the deletion of this proviso, in accordance with the requirements of Sections 611 and 901(8); or 

(4) modify the provisions of Article Fourteen in a manner adverse to the Holders of Securities. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to approve the
particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Section 903. Execution of Supplemental Indentures.  
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

  
 46 

 Section 904. Effect of Supplemental Indentures.  

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

Section 905. Conformity with Trust Indenture Act.  
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 
 Section 906. Reference in Securities to Supplemental Indentures.  

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

ARTICLE TEN 

COVENANTS 

Section 1001. Payment of Principal, Premium and Interest.  
 The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in
accordance with the terms of the Securities and this Indenture. 
 Section 1002. Maintenance of Office or Agency.  

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

  
 47 

 The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company
of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency. 
 Section 1003. Money for Securities Payments to Be Held in Trust.  

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date
of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of or any premium or interest on any Securities of that series,
deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to
act. 
 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to
the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying
Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee,
forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that series. 
 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee
all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the
Trustee, such Paying Agent shall be released from all further liability with respect to such money. 
 Any money deposited with
the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has
become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the
Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying
Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation, notice
that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 

  
 48 

 Section 1004. Existence.  

Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect
its existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
 Section 1005. Maintenance of Properties.  
 The Company will cause all
properties used or useful in the conduct of its business or the business of any Subsidiary to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times;
provided, however, that nothing in this Section shall prevent the Company from discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business
or the business of any Subsidiary and not disadvantageous in any material respect to the Holders. 
 Section 1006. Payment of Taxes and
Other Claims.  
 The Company will pay or discharge or cause to be paid or discharged, before the same shall become
delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials
and supplies which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment,
charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 
 Section 1007.
Restrictions on Secured Debt.  
 The Company will not itself, and will not permit any Restricted Subsidiary to, incur,
issue, assume, or guarantee any loans, whether or not evidenced by negotiable instruments or securities, or any notes, bonds, debentures or other similar evidences of indebtedness for money borrowed (loans, and notes, bonds, debentures or other
similar evidences of indebtedness for money borrowed being hereinafter in this Section 1007 called “Debt”), secured after the date hereof by pledge of, or mortgage or lien on, any Principal Property of the Company or any Restricted
Subsidiary or any shares of Capital Stock of or Debt of any Restricted Subsidiary (mortgages, pledges and liens being hereinafter in this Section 1007 called “Mortgage” or “Mortgages”), without effectively providing that the
Securities (together with, if the Company shall so determine, any other Debt of the Company or such Restricted Subsidiary then existing or 

  
 49 

 
thereafter created which is not subordinated to the Securities) shall be secured equally and ratably with (or, at the option of the Company, prior to) such secured Debt, so long as such secured
Debt shall be so secured, unless, after giving effect thereto, the aggregate amount of all such secured Debt plus all Attributable Debt of the Company and its Restricted Subsidiaries with respect to sale and lease back transactions to which
Section 1008 is applicable would not exceed 10% of Consolidated Net Tangible Assets; provided, however, that this Section 1007 shall not apply to, and there shall be excluded from secured Debt in any computation under this
Section 1007, Debt secured by: 
 (1) Mortgages on property of, or on any shares of Capital Stock of or Debt
of, any corporation existing at the time such corporation becomes a Restricted Subsidiary; 
 (2) Mortgages in
favor of the Company or any Restricted Subsidiary; 
 (3) Mortgages in favor of any governmental body to secure
progress, advance or other payments pursuant to any contract or provision of any statute; 
 (4) Mortgages on
property, shares of Capital Stock or Debt existing at the time of acquisition thereof (including acquisition through merger or consolidation) or to secure the payment of all or any part of the purchase price thereof or construction thereon or to
secure any Debt incurred prior to, at the time of, or within 180 days after the later of the acquisition of such property, shares of Capital Stock or Debt or the completion of construction, for the purpose of financing all or any part of the
purchase price thereof or construction thereon; 
 (5) Mortgages securing obligations issued by a State,
territory or possession of the United States, any political subdivision of any of the foregoing, or the District of Columbia, or any instrumentality of any of the foregoing to finance the acquisition or construction of property, and on which the
interest is not, in the opinion of tax counsel of recognized standing or in accordance with a ruling issued by the Internal Revenue Service, includible in gross income of the holder by reason of Section 103 (a)(1) of the Internal Revenue Code
(or any successor to such provision) as in effect at the time of the issuance of such obligations; or 
 (6) Any
extension, renewal or replacement (or successive extensions, renewals or replacements), as a whole or in part, of any Mortgage referred to in the foregoing clauses (1) to (5), inclusive; provided, however, that such extension, renewal or
replacement Mortgage shall be limited to all or part of the same property, shares of Capital Stock or Debt that secured the Mortgage extended, renewed or replaced (plus improvements on such property). 

Section 1008. Restrictions on Sales and Leasebacks.  
 The Company will not itself, and will not permit any Restricted Subsidiary to enter into any transaction after the date hereof with any bank, insurance company or other lender or investor, or any such
transaction to which any such bank, company, lender or investor is a party, providing for the leasing by the Company or a Restricted Subsidiary of any Principal Property which has been or is to be sold or transferred by the Company or such
Restricted 

  
 50 

 
Subsidiary to such bank, company, lender or investor, or any person to whom funds have been or are to be advanced by such bank, company, lender or investor on the security of such Principal
Property (herein referred to as a “sale and leaseback transaction”) unless, after giving effect thereto, the aggregate amount of all Attributable Debt with respect to all such transactions plus all secured Debt to which Section 1007
is applicable would not exceed 10% of Consolidated Net Tangible Assets. This covenant shall not apply to, and there shall be excluded from Attributable Debt in any computation under this Section 1008 or Section 1007 Attributable Debt with
respect to, any sale and leaseback transaction if: 
 (1) the lease in such sale and lease back transaction is
for a period, including renewal rights, of not in excess of three years; 
 (2) the Company or a Restricted
Subsidiary, within 180 days after the sale or transfer shall have been made by the Company or by a Restricted Subsidiary, applies an amount equal to the greater of the net proceeds of the sale of the Principal Property leased pursuant to such
arrangement or the fair market value of the Principal Property so leased at the time of entering into such arrangement (as determined in any manner approved by the Board of Directors) to 

(A) the retirement of the Securities, other Funded Debt of the Company ranking on a parity with or senior to the
Securities, or Funded Debt of a Restricted Subsidiary, provided, however, that the amount to be applied to the retirement of such Funded Debt of the Company or a Restricted Subsidiary shall be reduced by (x) the principal amount of any
Securities (or other notes or debentures constituting such Funded Debt) delivered within such 180-day period to the Trustee or other applicable trustee for retirement and cancellation and (y) the principal amount of such Funded Debt, other than
items referred to in the preceding clause (x), voluntarily retired by the Company or a Restricted Subsidiary within 180 days after such sale, and provided further, that, notwithstanding the foregoing, no retirement referred to in this clause
(a) may be effected by any payment at maturity or pursuant to any mandatory sinking fund payment or any mandatory prepayment provision; or 
 (B) the purchase of other property which will constitute a Principal Property having a fair market value, in the opinion of the Board of Directors, at least equal to the fair market value of the Principal
Property leased in such sale and lease back transaction; 
 (3) such sale and leaseback transaction is entered
into prior to, at the time of, or within 180 days after the later of the acquisition of the Principal Property or the completion of construction thereon; 
 (4) the lease in such sale and leaseback transaction secures or relates to obligations issued by a State, territory or possession of the United States, or any political subdivision of any of the
foregoing, the District of Columbia, or any instrumentality of any of the foregoing to finance the acquisition or construction of property, and on which the interest is not, in the opinion of tax counsel of recognized standing or in accordance with
a ruling issued by the Internal Revenue Service, includible in gross income of the holder by reason of Section 103 (a) (1) of the Internal Revenue Code (or any successor to such provision) as in effect at the time of the issuance of
such obligations; or 

  
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 (5) such sale and leaseback transaction is entered into between the Company
and a Restricted Subsidiary or between Restricted Subsidiaries. 
 Section 1009. Statement by Officers as to Default.  

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

Section 1010. Waiver of Certain Covenants.  
 Except as otherwise specified as contemplated by Section 301 for Securities of such series, the Company may, with respect to the Securities of any series, omit in any particular instance to comply
with any term, provision or condition set forth in any covenant provided pursuant to Section 301(18), 901(2) or 901(7) for the benefit of the Holders of such series or in any of Sections 1004 to 1008, inclusive, if before the time for such
compliance the Holders of at least 66 2/3 % in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or
condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE ELEVEN 

REDEMPTION OF SECURITIES 

Section 1101. Applicability of Article.  
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for
such Securities) in accordance with this Article. 
 Section 1102. Election to Redeem; Notice to Trustee.  

The election of the Company to redeem any Securities shall be evidenced by a Board Resolution or in another manner specified as
contemplated by Section 301 for such Securities. In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting only a single Security), the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed and,
if applicable, of the tenor 

  
 52 

 
of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere
in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 

Section 1103. Selection by Trustee of Securities to Be Redeemed.  
 If less than all the Securities of any series are to be redeemed (unless all of the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects only a single
Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the
Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series; provided, however, that the unredeemed portion of the principal amount of any
Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption
affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously
called for redemption in accordance with the preceding sentence. 
 The Trustee shall promptly notify the Company in writing of
the Securities selected for redemption as aforesaid and, in the case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 

The provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether
such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

Section 1104. Notice of Redemption.  
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed, at
his address appearing in the Security Register. 
 All notices of redemption shall state: 

(1) the Redemption Date, 
 (2) the Redemption Price, 

  
 53 

 (3) if less than all the Outstanding Securities of any series consisting of more than a
single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series
consisting of a single Security are to be redeemed the principal amount of the particular Security to be redeemed, 
 (4) that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 

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

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

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 
 Section 1105. Deposit of Redemption
Price.  
 Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued
interest on, all the Securities which are to be redeemed on that date. 
 Section 1106. Securities Payable on Redemption Date. 

 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become
due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of
any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as
contemplated by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of
business on the relevant Record Dates according to their terms and the provisions of Section 307. 
 If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

  
 54 

 Section 1107. Securities Redeemed in Part.  

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee
so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE TWELVE

 SINKING FUNDS 
 Section 1201. Applicability of Article.  
 The provisions of this
Article shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities. 

The minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a “mandatory
sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment”. If provided for by the terms of any Securities, the cash
amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of such Securities. 

Section 1202. Satisfaction of Sinking Fund Payments with Securities.  

The Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may
apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such
Securities; provided, however, that the Securities to be so credited have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the
Securities so to be redeemed, for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 Section 1203. Redemption of Securities for Sinking Fund.  
 Not less
than 45 days prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the
terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, 

  
 55 

 
which is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days
prior to each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 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 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 

ARTICLE THIRTEEN 
 DEFEASANCE AND COVENANT DEFEASANCE 
 Section 1301. Company’s Option to Effect
Defeasance or Covenant Defeasance.  
 The Company may elect, at its option at any time, to have Section 1302 or
Section 1303 applied to any Securities or any series of Securities, as the case may be, designated pursuant to Section 301 as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements
provided pursuant to Section 301 and upon compliance with the conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such
Securities. 
 Section 1302. Defeasance and Discharge.  
 Upon the Company’s exercise of its option, if any, to have this Section applied to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged
from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”. ( For this purpose, such Defeasance means
that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned
(and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of such
Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, (2) the
Company’s obligations with respect to such Securities under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with
this Article, the Company may exercise its option, if any, to have this Section applied to any Securities notwithstanding the prior exercise of its option, if any, to have Section 1303 applied to such Securities. Money and securities held in
trust pursuant to this Section 1302 shall not be subject to Article Fourteen. 
 Section 1303. Covenant Defeasance. 

 Upon the Company’s exercise of its option, if any, to have this Section applied to any Securities or any series of
Securities, as the case may be, (1) the Company shall be released from its obligations under Section 801(3), Sections 1005 through 1009, inclusive, and any covenants provided pursuant to Section 301(18), 901(2) or 901(7) for the
benefit of the Holders of such Securities and (2) the occurrence of any event specified in Sections 501(4) (with respect 

  
 56 

 
to any of Section 801(3), Sections 1005 through 1008, inclusive, and any such covenants provided pursuant to Section 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be deemed
not to be or result in an Event of Default, in each case with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant
Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such
specified Section (to the extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and such Securities shall be unaffected thereby. 

Section 1304. Conditions to Defeasance or Covenant Defeasance.  
 The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, as the case may be: 

(1) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which
satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their
terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed
in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on such
Securities on the respective Stated Maturities, in accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the
United States of America for the payment of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States
of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and
(y) any depositary receipt issued by a bank (as defined in Section 3(a) (2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in clause (x) above and held by such bank for the
account of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held; provided, however, that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or
interest evidenced by such depositary receipt. 

  
 57 

 (2) In the event of an election to have Section 1302 apply to any
Securities or any series of Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a
ruling or (B) since the date of this instrument, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such
Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same
manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3) In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the
case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance
to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officer’s Certificate to the effect that neither such
Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 
 (5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or any other Securities shall have occurred and be continuing at the time
of such deposit or, with regard to any such event specified in Sections 501(6) and (7), at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after
such 90th day). 
 (6) Such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting
interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of the Trust Indenture Act). 
 (7) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any other agreement or instrument to which the Company is a party or by which it is
bound. 
 (8) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit
constituting an investment company within the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration thereunder. 

(9) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating
that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

  
 58 

 Section 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
Provisions.  
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the
“Trustee”) pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through
any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money
so held in trust need not be segregated from other funds except to the extent required by law. 
 The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of Outstanding Securities. 
 Anything in this Article to the
contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the
Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
 Section 1306. Reinstatement.  

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released
pursuant to Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in
trust pursuant to Section 1305 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights, if any, of the Holders of such Securities to receive such payment from the money so held in trust. 

  
 59 

 ARTICLE FOURTEEN 

SUBORDINATION OF SECURITIES 
 Section 1401. Applicability of Article; Agreement To Subordinate.  

Except as provided otherwise in any Officers’ Certificate or indentures supplemental hereto establishing the terms of a series of
Securities, the provisions of this Article Fourteen shall be applicable to the Securities of any series (Securities of such series referred to in this Article Fourteen as “Subordinated Securities”) designated, pursuant to
Section 3.01, as subordinated to Senior Indebtedness. Each Holder by accepting a Subordinated Security agrees that the Indebtedness evidenced by such Subordinated Security is subordinated in right of payment, to the extent and in the manner
provided in this Article Fourteen, to the prior payment of all Senior Indebtedness with respect to such series of Securities and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness. All provisions
of this Article Fourteen shall be subject to Section 1411. The Officers’ Certificate or indenture supplemental hereto establishing the terms of a series of Securities may provide provisions relating to the subordination of that series
that differ from, add to, diminish from, or replace in their entirety any or all of the provisions of this Article Fourteen with respect to such series of Securities and that identify the same or different Senior Indebtedness for each series of
Subordinated Securities hereunder, including provisions subordinating a series of Subordinated Securities to any or all other series of Subordinated Securities. 
 Section 1402. Liquidation, Dissolution, Bankruptcy.  
 Upon any payment
or distribution of the assets of the Company to creditors upon a total or partial liquidation or a total or partial dissolution of the Company or in a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company
or its property: 
 (1) holders of Senior Indebtedness shall be entitled to receive payment in full in cash of
the Senior Indebtedness (including interest (if any), accruing on or after the commencement of a proceeding in bankruptcy, whether or not allowed as a claim against the Company in such bankruptcy proceeding) before Holders of Subordinated Securities
shall be entitled to receive any payment of principal of, or premium, if any, or interest on, the Subordinated Securities; and 
 (2) until the Senior Indebtedness is paid in full, any distribution to which Holders of Subordinated Securities would be entitled but for this Article Fourteen shall be made to holders of Senior
Indebtedness as their interests may appear, except that such Holders may receive shares of stock and any debt securities that are subordinated to Senior Indebtedness to at least the same extent as the Subordinated Securities. 

Section 1403. Default on Senior Indebtedness.  
 The Company may not pay the principal of, or premium, if any, or interest on, the Subordinated Securities or make any deposit pursuant to Article Thirteen and may not repurchase, redeem or otherwise
retire (except, in the case of Subordinated Securities that provide for a mandatory sinking fund pursuant to Section 1201, by the delivery of Subordinated 

  
 60 

 
Securities by the Company to the Trustee pursuant to Section 1202) any Securities (collectively, “pay the Subordinated Securities”) if (a) any principal, premium or interest
in respect of Senior Indebtedness is not paid within any applicable grace period (including at maturity) or (b) any other default on Senior Indebtedness occurs and the maturity of such Senior Indebtedness is accelerated in accordance with its
terms unless, in either case, (i) the default has been cured or waived and any such acceleration has been rescinded or (ii) such Senior Indebtedness has been paid in full in cash. During the continuance of any default (other than a default
described in clause (a) or (b) of the preceding sentence) with respect to any Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without further notice (except such notice as may be required to effect
such acceleration) or the expiration of any applicable grace periods, the Company may not pay the Subordinated Securities for a period (a “Payment Blockage Period”) commencing upon the receipt by the Company and the Trustee of written
notice of such default from the holders of Senior Indebtedness specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and ending 179 days thereafter (or earlier if such Payment Blockage Period is terminated
(A) by written notice to the Trustee and the Company from the Person or Persons who gave such Blockage Notice, (B) by repayment in full in cash of the Senior Indebtedness or (C) because the default giving rise to such Blockage Notice
is no longer continuing). Notwithstanding the provisions described in the immediately preceding sentence (but subject to the provisions contained in the first sentence of this Section 1403), unless the holders of the Senior Indebtedness shall
have accelerated the maturity of the Senior Indebtedness, the Company may resume payments on the Subordinated Securities after such Payment Blockage Period. Not more than one Blockage Notice may be given in any consecutive 360-day period,
irrespective of the number of defaults with respect to any number of issues of Senior Indebtedness during such period. For purposes of this Section 1403, no default or event of default which existed or was continuing on the date of the
commencement of any Payment Blockage Period with respect to the Senior Indebtedness initiating such Payment Blockage Period shall be, or be made, the basis of the commencement of a subsequent Payment Blockage Period by the holders of such Senior
Indebtedness, whether or not within a period of 360 consecutive days, unless such default or event of default shall have been cured or waived for a period of not less than 90 consecutive days. 

Section 1404. Acceleration of Payment of Securities.  
 If payment of the Subordinated Securities is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Senior Indebtedness of the acceleration.

 Section 1405. When Distribution Must Be Paid Over.  
 If a distribution is made to Holders of Subordinated Securities that because of this Article Fourteen should not have been made to them, the Holders who receive such distribution shall hold it in trust
for holders of Senior Indebtedness and pay it over to them as their interests may appear. 
 Section 1406. Subrogation.  

After all Senior Indebtedness is paid in full and until the Subordinated Securities are paid in full, Holders thereof shall be subrogated
to the rights of holders of Senior Indebtedness to receive distributions applicable to Senior Indebtedness. A distribution made under this Article Fourteen to holders of Senior Indebtedness which otherwise would have been made to Holders of
Subordinated Securities is not, as between the Company and such Holders, a payment by the Company on Senior Indebtedness. 

  
 61 

 Section 1407. Relative Rights.  

This Article Fourteen defines the relative rights of Holders of Subordinated Securities and holders of Senior Indebtedness. Nothing
in this Indenture shall: 
 (1) impair, as between the Company and Holders of either Subordinated Securities or
Securities, the obligation of the Company, which is absolute and unconditional, to pay principal of, and premium, if any, and interest on, the Subordinated Securities and the Securities in accordance with their terms; or 

(2) prevent the Trustee or any Holder of either Subordinated Securities or Securities from exercising its available
remedies upon a Default, subject to the rights of holders of Senior Indebtedness to receive distributions otherwise payable to Holders of Subordinated Securities. 
 Section 1408. Subordination May Not Be Impaired By Company.  
 No right
of any holder of Senior Indebtedness to enforce the subordination of the Indebtedness evidenced by the Subordinated Securities shall be impaired by any act or failure to act by the Company or by its failure to comply with this Indenture. 

Section 1409. Rights of Trustee and Paying Agent.  
 Notwithstanding Section 1403, the Trustee or any paying agent may continue to make payments on Subordinated Securities and shall not be charged with knowledge of the existence of facts that would
prohibit the making of any such payments unless, not less than two business days prior to the date of such payment, a responsible officer of the Trustee receives notice satisfactory to it that payments may not be made under this
Article Fourteen. The Company, the Registrar, any payment agent or a holder of Senior Indebtedness may give the notice. 

The Trustee in its individual or any other capacity may hold Senior Indebtedness with the same rights it would have if it were not
Trustee. The Registrar and any paying agent may do the same with like rights. The Trustee shall be entitled to all the rights set forth in this Article Fourteen with respect to any Senior Indebtedness which may at any time be held by it, to the same
extent as any other holder of Senior Indebtedness; and nothing in Article Six shall deprive the Trustee of any of its rights as such holder. Nothing in this Article Fourteen shall apply to claims of, or payments to, the Trustee under or
pursuant to Section 607. 
 Section 1410. Article Fourteen Not to Prevent Defaults or Limit Right to Accelerate. 

 The failure to make a payment pursuant to the Securities by reason of any provision in this Article Fourteen shall not be
construed as preventing the occurrence of a Default. Nothing in this Article Fourteen shall have any effect on the right of the Holders or the Trustee to accelerate the maturity of either the Subordinated Securities or the Securities, as the
case may be. 

  
 62 

 Section 1411. Trust Moneys Not Subordinated.  

Notwithstanding anything contained herein to the contrary, payments from money or the proceeds of U.S. Government obligations held in
trust under Article Thirteen by the Trustee for the payment of principal of, and premium, if any, and interest on, the Subordinated Securities or the Securities shall not be subordinated to the prior payment of any Senior Indebtedness or
subject to the restrictions set forth in this Article Fourteen, and none of the Holders thereof shall be obligated to pay over any such amount to the Company or any holder of Senior Indebtedness of the Company or any other creditor of the
Company. 
 Section 1412. Trustee Entitled to Rely.  
 Upon any payment or distribution pursuant to this Article Fourteen, the Trustee and the Holders shall be entitled to rely (a) upon any order or decree of a court of competent jurisdiction in
which any proceedings of the nature referred to in Section 1402 are pending, (b) upon a certificate of the liquidating trustee or agent or other Person making such payment or distribution to the Trustee or to such Holders or (c) upon
the holders of Senior Indebtedness for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other Indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article Fourteen. In the event that the Trustee determines, in good faith, that evidence is required with respect to the right of any
Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article Fourteen, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of
Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and other facts pertinent to the rights of such Person under this Article Fourteen, and, if such evidence is not
furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. The provisions of Sections 601 and 603 shall be applicable to all actions or omissions of actions
by the Trustee pursuant to this Article Fourteen. 
 Section 1413. Trustee to Effectuate Subordination.  

Each Holder by accepting a Subordinated Security authorizes and directs the Trustee on his behalf to take such action as may be necessary
or appropriate to acknowledge or effectuate the subordination between the Holders of Subordinated Securities and the holders of Senior Indebtedness as provided in this Article Fourteen and appoints the Trustee as attorney-in-fact for any and
all such purposes. 
 Section 1414. Trustee Not Fiduciary for Holders of Senior Indebtedness.  

The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable to any such
holders if it shall mistakenly pay over or distribute to Holders of Subordinated Securities or the Company or any other Person, money or assets to which any holders of Senior Indebtedness shall be entitled by virtue of this Article Fourteen or
otherwise. 

  
 63 

 Section 1415. Reliance by Holders of Senior Indebtedness on Subordination Provisions. 

 Each Holder by accepting a Subordinated Security acknowledges and agrees that the foregoing subordination provisions are, and
are intended to be, an inducement and a consideration to each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Subordinated Securities, to acquire and continue to hold,
or to continue to hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold, or in continuing to hold, such Senior
Indebtedness. 
 * * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same
instrument. 

  
 64 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and
their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written. 
  

									
		 		 	PARKER-HANNIFIN CORPORATION
					
		 		 		 	By	 	 
		 		 		 		 	

  

									
	 Attest:
	 		 	
	 	 		 		 	
		 		 		 		 	

  

									
		 		 	[TRUSTEE]
					
		 		 		 	By:	 	 
		 		 		 		 	

  

									
	 Attest:
	 		 	
	 	 		 		 	
		 		 		 		 	

  
 65 

							
	 STATE OF OHIO
	  	 	)	  	  	
		  	 	)	  	  	SS:
	 COUNTY OF CUYAHOGA
	  	 	)	  	  	

 On the
                     day of
                     , 20        , before me personally came [Thomas A. Piraino,
Jr.], to me known, who, being by me duly sworn, did depose and say that [he/she] is the [Vice President, General Counsel and Secretary] of Parker-Hannifin Corporation, one of the corporations described in and which executed the
foregoing instrument; that [he/she] knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that [he/she]
signed [his/her] name thereby by like authority. 
  

 
  

							
	 STATE OF OHIO
	  	 	)	  	  	
		  	 	)	  	  	SS:
	 COUNTY OF CUYAHOGA
	  	 	)	  	  	

 On the
                     day of
                    , 20        , before me personally came
                    , to me known, who, being by me duly sworn, did depose and say that [s/he] is
[            ] of [            ], one of the corporations described in and which executed the foregoing instrument;
that [s/he] knows the seal of said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation, and that [s/he] signed [her/his]
name thereby by like authority. 

  
 66EX-10.13

 Exhibit 10.13 
 FOURTH AMENDMENT TO LEASE 
 THIS FOURTH AMENDMENT TO
LEASE (this “Amendment”) is entered into as of this 19th day of November, 2012 (the “Fourth Amendment Execution Date”), by and between BMR-3545-3575 JOHN HOPKINS LP, a Delaware limited partnership (“Landlord,” formerly known
as BMR-John Hopkins Court LLC), and REGULUS THERAPEUTICS INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A. WHEREAS, Landlord and Tenant entered into that certain Lease dated as of March 19, 2010 (the “Original Lease”), as amended by that certain First Amendment to Lease dated as of
April 26, 2010 (the “First Amendment”), that certain Second Amendment to Lease dated as of January 26, 2011 (the “Second Amendment”) and that certain Third Amendment to Lease dated as of February 27,
2012 (the “Third Amendment,” and together with the Original Lease, First Amendment and Second Amendment, and as the same may have been further amended, amended and restated, supplemented or modified from time to time, the
“Lease”), whereby Tenant leases certain premises (the “Original Premises”) from Landlord in the building located at 3545-3575 John Hopkins Court in San Diego, California (the “Building”);

 B. WHEREAS, Landlord desires to lease to Tenant and Tenant desires to lease from Landlord additional premises; and

 C. WHEREAS, Landlord and Tenant desire to modify and amend the Lease only in the respects and on the conditions hereinafter
stated. 
 AGREEMENT 
 NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound, agree as follows: 
 1. Definitions. For purposes of this Amendment, capitalized terms shall have the
meanings ascribed to them in the Lease unless otherwise defined herein. The Lease, as amended by this Amendment, is referred to herein as the “Amended Lease.” 

2. Second Additional Premises. Commencing as of the Second Additional Premises Commencement Date (as defined below), Landlord
hereby leases to Tenant and Tenant hereby leases from Landlord approximately six thousand nine hundred eighty (6,980) square feet of additional Rentable Area located on the first (1st) floor of the Building, as depicted on Exhibit A attached hereto (the “Second Additional
Premises”). From and after the Second Additional Premises Commencement Date, the term “Premises,” as used in the Lease, shall mean the Original Premises plus the Second Additional Premises for a total of twenty-eight
thousand eight hundred fourteen (28,814) square feet of Rentable Area. For purposes of clarity, as of the Second Additional Premises Commencement Date, the entire Premises may also be broken down as follows: (a) seven thousand three
hundred forty-four square feet of Rentable Area located on 

 
the first (1st) floor of the Building (the “First Floor Premises”) and (b) twenty-one thousand four hundred seventy square feet of Rentable Area located on the second (2nd) floor of the Building (the “Second Floor
Premises”). 
 3. Second Additional Premises Term. The Term with respect to the Second Additional Premises shall commence on the
Second Additional Premises Commencement Date (as defined below) and expire on the Term Expiration Date, subject to earlier termination pursuant to the terms of the Amended Lease (such period of time is referred to herein as the “Second
Additional Premises Term”). 
 4. Possession and Commencement. 

4.1. The “Second Additional Premises Commencement Date” shall be the earlier of (a) May 15, 2013 and
(b) the day the work described in the Second Work Letter (the “Second Additional Tenant Improvements”) is Substantially Complete. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Second
Additional Premises Commencement Date within ten (10) days after Tenant takes occupancy of the Second Additional Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not
affect the Second Additional Premises Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the First Floor Premises
required for the Permitted Use by Tenant shall not serve to extend the Second Additional Premises Commencement Date. The term “Substantially Complete” or “Substantial Completion” means that the Second Additional
Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Second Work Letter), except for minor punch list items. 
 4.2. Tenant shall cause the Second Additional Tenant Improvements to be constructed in the First Floor Premises pursuant to the Second Work Letter attached hereto as Exhibit B (the “Second
Work Letter”) at a cost to Landlord not to exceed (a) Two Hundred Ninety-Three Thousand Seven Hundred Sixty Dollars ($293,760) (based upon Forty Dollars ($40) per square foot of Rentable Area of First Floor Premises) (the
“Second Base TI Allowance”) plus (b) if properly requested by Tenant pursuant to this Section, Six Hundred Sixty Thousand Nine Hundred Sixty Dollars ($660,960) (based upon Ninety Dollars ($90) per square foot of Rentable Area
of First Floor Premises) (the “Second Additional TI Allowance”), for a total of Nine Hundred Fifty-Four Thousand Seven Hundred Twenty Dollars ($954,720) (based upon One Hundred Thirty Dollars ($130) per square foot of Rentable Area
of First Floor Premises). The Second Base TI Allowance, together with Second Additional TI Allowance (if properly requested by Tenant pursuant to this Article), shall be referred to herein as the “Second TI Allowance.” The Second TI
Allowance may be applied to the costs of (n) construction, (o) project review by Landlord (which fee shall equal three percent (3%) of the hard costs of the Second Additional Tenant Improvements, including the Second Base TI Allowance
and, if used by Tenant, the Second Additional TI Allowance), (p) space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (q) building permits and other taxes, fees, charges and
levies by Governmental Authorities for permits or for inspections of the Second Additional Tenant Improvements, and (r) costs and expenses for labor, material, equipment and fixtures. In no event shall the Second TI Allowance be used for
(v) the 

  
 2 

 
cost of work that is not authorized by the Approved Plans (as defined in the Second Work Letter) or otherwise approved in writing by Landlord, (w) payments to Tenant or any affiliates of
Tenant, (x) the purchase of any furniture, personal property or other non-building system equipment, (y) costs resulting from any default by Tenant of its obligations under the Amended Lease or (z) costs that are recoverable by Tenant
from a third party (e.g., insurers, warrantors, or tortfeasors). 
 4.3. Base Rent with respect to the First Floor Premises
shall be increased to include the amount of the Second Additional TI Allowance disbursed by Landlord in accordance with this Lease amortized over the Second Additional Premises Term at a rate of eight percent (8%) annually. Tenant shall have
until May 1, 2013 (the “Second TI Deadline”), to expend the unused portion of the Second TI Allowance, after which date Landlord’s obligation to fund such costs shall expire. The amount by which Base Rent with respect to
the First Floor Premises shall be increased shall be determined (and Base Rent shall be increased accordingly) as of the Second Additional Premises Commencement Date and, if such determination does not reflect use by Tenant of all of the Second
Additional TI Allowance, shall be determined again as of the Second TI Deadline, with Tenant paying (on the next succeeding day that Base Rent is due under this Lease (the “Second TI True-Up Date”)) any underpayment of the further
adjusted Base Rent for the period beginning on the Second Additional Premises Commencement Date and ending on the Second TI True-Up Date. 
 4.4. Landlord shall not be obligated to expend any portion of the Second Additional TI Allowance until Landlord shall have received from Tenant a letter in the form attached as Exhibit D hereto
executed by an authorized officer of Tenant. In no event shall any unused Second TI Allowance entitle Tenant to a credit against Rent payable under the Amended Lease. Tenant shall deliver to Landlord (a) a certificate of occupancy for the First
Floor Premises suitable for the Permitted Use and (b) a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the project architect and the general contractor. 

4.5. Prior to entering upon the Second Additional Premises, Tenant shall furnish to Landlord evidence satisfactory to Landlord that
insurance coverages required of Tenant under the provisions of Article 23 are in effect with respect to the Second Additional Premises, and such entry shall be subject to all the terms and conditions of the Amended Lease other than the
payment of Base Rent or Tenant’s Share of Operating Expenses (as defined below). 
 4.6. Promptly after the Fourth
Amendment Execution Date, Tenant, at its sole cost and expense, shall install temporary meters for all water, gas, heat, light, power, telephone, internet service, cable television, other telecommunications and other utilities supplied to the Second
Additional Premises for use during Tenant’s construction of the Second Additional Tenant Improvements and until the Second Additional Premises Commencement Date. Tenant shall pay all utility charges for the Second Additional Premises, together
with any fees, surcharges and taxes thereon for the period beginning on the date that Tenant first accesses the Second Additional Premises for any reason after the Fourth Amendment Execution Date. Notwithstanding anything in the Lease to the
contrary, the Second Additional Tenant Improvements shall include purchasing and installing a separate submeter to measure the 

  
 3 

 
electricity and gas supplied to the First Floor Premises. From and after the Second Additional Premises Commencement Date, Tenant shall be responsible for the cost of utilities supplied to the
Second Additional Premises as set forth in Section 16.1 of the Lease. 
 5. Landlord Work. Landlord, at its sole cost and
expense, shall perform the improvements set forth on Exhibit E attached hereto. 
 6. Base Rent. Notwithstanding anything in the
Lease to the contrary, commencing as of the Second Additional Premises Commencement Date, Base Rent with respect to the entire Premises shall be as set forth in the charts below: 
 First Floor Premises Base Rent: 
  

																	
	 Dates (as of the Second Additional Premises Commencement Date)
	  	Square
Feet of
Rentable
Area	 	  	Monthly
Base
Rent per
Square
Foot of
Rentable
Area	 	  	Monthly
Base Rent	 	  	Annual Base
Rent*	 
	 Months 1-5
	  	 	7,344	  	  	$	0.00	  	  	$	0.00	  	  	 	N/A	  
	 Months 6-12
	  	 	7,344	  	  	$	3.00	  	  	$	22,032.00	  	  	$	264,384.00	  
	 Months 13-24
	  	 	7,344	  	  	$	3.09	  	  	$	22,692.96	  	  	$	272,315.52	  
	 Months 25-36
	  	 	7,344	  	  	$	3.18	  	  	$	23,353.92	  	  	$	280,247.04	  
	 Months 37-48
	  	 	7,344	  	  	$	3.28	  	  	$	24,088.32	  	  	$	289,059.84	  
	 Month 49-June 30, 2017
	  	 	7,344	  	  	$	3.38	  	  	$	24,822.72	  	  	$	297,872.64	  

  

	*	Based on a twelve-month calculation 

  
 4 

 Second Floor Premises Base Rent: 

 

																	
	 Dates
	  	Square
Feet of
Rentable
Area	 	  	Base Rent per
Square Foot of
Rentable Area	 	  	Monthly
Base Rent	 	  	Annual Base
Rent*	 
	 Second Additional Premises Commencement Date – June 30, 2013
	  	 	21,470	  	  	$	2.44 monthly	  	  	$	52,386.80	  	  	$	628,641.60	  
	 July 1, 2013 – June 30, 2014
	  	 	21,470	  	  	$	2.69 monthly	  	  	$	57,754.30	  	  	$	693,051.60	  
	 July 1, 2014 – June 30, 2015
	  	 	21,470	  	  	$	2.94 monthly	  	  	$	63,121.80	  	  	$	757,461.60	  
	 July 1, 2015 – June 30, 2016
	  	 	21,470	  	  	$	3.19 monthly	  	  	$	68,489.30	  	  	$	821,871.60	  
	 July 1, 2016 – June 30, 2017
	  	 	21,470	  	  	$	3.44 monthly	  	  	$	73,856.80	  	  	$	886,281.60	  

  

	*	Based on a twelve-month calculation 

 7.
Tenant’s Pro Rata Share. From and after the Second Additional Premises Commencement Date, Tenant’s Pro Rata Share shall equal thirty-nine and 91/100 percent (39.91%). Notwithstanding any abatement in Base Rent, Tenant shall be
responsible for Operating Expenses with respect to the entire Premises as of the Second Additional Premises Commencement Date, including the Property Management Fee, which, during the first five (5) months following the Second Additional
Premises Commencement Date, shall be calculated as if Tenant were paying Seventy-Five Thousand Three Hundred Forty-Nine and 22/100 Dollars ($75,349.22) per month for Base Rent. 
 8. Condition of Second Additional Premises. Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of the Second
Additional Premises, the Building or the Project, or with respect to the suitability of the Second Additional Premises, the Building or the Project for the conduct of Tenant’s business. Notwithstanding the foregoing, Landlord represents and
warrants that, as of the Fourth Amendment Execution Date, (a) the Second Additional Premises are in compliance with all 

  
 5 

 
Applicable Laws (including (without limitation) the ADA and Title 24) and (b) the structural elements of the Building, the roof and roof membrane and the Building systems throughout the
Building and serving the Second Additional Premises (including (without limitation) the mechanical, electrical, HVAC and plumbing systems of the Building) are in working order, condition and repair and, to the extent that the representations are in
(a) and/or (b) are untrue as of the Fourth Amendment Execution Date, Landlord shall, at Landlord’s sole cost and expense and as Tenant’s sole remedy, correct any breach of such warranties promptly following receipt of written
notice thereof from Tenant. Tenant acknowledges that (x) it is fully familiar with the condition of the Second Additional Premises and agrees to take the same in its condition “as is” as of the Second Additional Premises Commencement
Date (subject to the preceding sentence) and (y) Landlord shall have no obligation to alter, repair or otherwise prepare the Second Additional Premises for Tenant’s occupancy or to pay for or construct any improvements to the Second
Additional Premises, except with respect to the Second Base TI Allowance and, if properly requested by Tenant pursuant to the terms of the Lease, the Second Additional TI Allowance. Tenant’s taking of possession of the Second Additional
Premises shall, except as otherwise agreed to in writing by Landlord and Tenant, conclusively establish that the Second Additional Premises, the Building and the Project were at such time in good, sanitary and satisfactory condition and repair.

 9. Additional Tenant. In the event Landlord leases any of the space indicated on Exhibit F attached hereto to a tenant other
than Tenant, the items set forth in this Article shall occur upon written notice from Landlord (the “Additional Tenant Notice”). 
 9.1. Storage Room Surrender. Within ten (10) days after Landlord’s delivery of the Additional Tenant Notice, Tenant shall surrender and vacate (in each case, in accordance with, and in
the condition required by, the Amended Lease for surrendering Premises upon the expiration or earlier termination thereof) that certain portion of Storage Room 100-30 (the “Storage Room”), as depicted on Exhibit G, attached
hereto (the “Storage Reduction Space”). Upon Tenant surrendering the Storage Reduction Space in accordance with the Lease, (a) the First Floor Premises shall no longer include the Storage Reduction Space, (b) the First
Floor Premises shall be reduced by the Rentable Area applicable to the Storage Reduction Space, (c) Tenant’s Pro Rata Share shall be adjusted to reflect the reduction in the First Floor Premises and (d) the Amended Lease (with respect
to the Storage Reduction Space) shall terminate and be of no further force or effect, except for those provisions that expressly survive the expiration or earlier termination thereof. 

9.2. Storage Room Improvements. Upon Tenant’s surrender of the Storage Reduction Space, Landlord shall be entitled to perform
improvements to the Storage Room (the “Storage Room Improvements”) in order to separately demise the Storage Reduction Space from the portion of the Storage Room that will remain a part of the First Floor Premises. The Storage Room
shall be demised into two (2) equally sized rooms and the Storage Room Improvements may include the installation of a demising wall, a double door and any necessary HVAC balancing or adjustments. Landlord shall invoice Tenant for the cost of
the Storage Room Improvements and Tenant shall pay such costs as Additional Rent within ten (10) days after receipt of an invoice therefor. 

  
 6 

 9.3. Emergency Exit Route. From and after Landlord’s delivery of the Additional
Tenant Notice, (a) the area depicted on Exhibit H attached hereto (the “Emergency Exit Route”) shall no longer constitute Common Area and shall only be used by Tenant in the event of an emergency and only for egress
purposes and (b) Tenant shall not enter or use the Emergency Exit Route at any other time or for any other purpose. In addition, upon Landlord’s delivery of the Additional Tenant Notice, Landlord may (m) install panic alarms and
secure double doors on doorways associated with the Emergency Exit Route and (n) install a demising wall as indicated on Exhibit H (collectively, the “Emergency Exit Route Improvements”). Landlord shall invoice Tenant
for the cost of the Emergency Exit Route Improvements (and other work necessary to complete the Emergency Exit Route Improvements) and Tenant shall pay such costs as Additional Rent within ten (10) days after receipt of an invoice therefor.
Concurrently with Tenant’s surrender of the Storage Reduction Space (as set forth in Section 9.1), (y) the Rentable Area of the First Floor Premises shall be reduced and (z) Tenant’s Pro Rata Share shall be adjusted,
in each case to reflect the reduction of the Emergency Exit Route from the Common Area of the Building. 
 9.4.
Submetering. Upon Landlord’s delivery of the Additional Tenant Notice, Landlord may install separate metering equipment to monitor such new tenant’s usage of utilities. Landlord shall invoice Tenant for the cost to install such
metering equipment and Tenant shall pay such costs as Additional Rent within ten (10) days after receipt of an invoice therefor. 
 10.
Termination Option. Notwithstanding anything in the Lease to the contrary, Article 44 of the Lease shall only apply to the Second Floor Premises and shall not apply to the First Floor Premises. 

11. Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this
Amendment, other than Studley, Inc. (“Broker”), and agrees to indemnify, defend and hold Landlord harmless from any and all cost or liability for compensation claimed by any such broker or agent, other than Broker, employed or
engaged by it or claiming to have been employed or engaged by it. Broker is entitled to a leasing commission in connection with the making of this Amendment, and Landlord shall pay such commission to Broker pursuant to a separate agreement between
Landlord and Broker. 
 12. No Default. Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord
and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder.

 13. Notices. Tenant confirms that, notwithstanding anything in the Lease to the contrary, notices delivered to Tenant pursuant to the
Amended Lease should be sent to: 
 Regulus Therapeutics Inc. 

3545 John Hopkins Court, Suite 210 
 San Diego, California 92121 
 Attn: Garry Menzel, Executive Vice President

  
 7 

 14. Effect of Amendment. Except as modified by this Amendment, the Lease and all the covenants,
agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. The covenants, agreements, terms, provisions and conditions contained in this Amendment shall bind and inure to the
benefit of the parties hereto and their respective successors and, except as otherwise provided in the Lease, their respective assigns. In the event of any conflict between the terms contained in this Amendment and the Lease, the terms herein
contained shall supersede and control the obligations and liabilities of the parties. From and after the date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment. 

15. Miscellaneous. This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The captions of the paragraphs
and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by reference. Submission of this
instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.

 16. Counterparts. This Amendment may be executed in one or more counterparts, each of which, when taken together, shall constitute one
and the same document. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 8 

 IN WITNESS WHEREOF, Landlord and Tenant have hereunto set their hands as of the date and
year first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment. 
  

			
	LANDLORD:
	
	 BMR-3545-3575 JOHN HOPKINS LP,
 a Delaware limited partnership

		
	By:	 	 /s/ Kevin M. Simonsen

	Name:	 	 Kevin M. Simonsen

	Title:	 	 VP, Real Estate Counsel

	
	TENANT:
	
	 REGULUS THERAPEUTICS INC.,
 a Delaware corporation

		
	By:	 	 /s/ Garry E. Menzel

	Name:	 	 Garry E. Menzel, Ph.D.

	Title:	 	 Chief Operating Officer and

		 	 Executive Vice President, Finance

 EXHIBIT A 
 SECOND ADDITIONAL PREMISES 

  
 A-1

 EXHIBIT B 
 SECOND WORK LETTER 
 This Second Work Letter
(this “Second Work Letter”) is made and entered into as of the 19th day of November, 2012, by and between BMR-3545-3575 JOHN HOPKINS LP, a Delaware limited partnership (“Landlord”), and REGULUS THERAPEUTICS INC., a Delaware corporation
(“Tenant”), and is attached to and made a part of that certain Fourth Amendment to Lease dated as of November 19, 2012 (as the same may be amended, amended and restated, supplemented or otherwise modified from time to time, the
“Amendment”), by and between Landlord and Tenant for the Second Additional Premises located at 3545-3575 John Hopkins Court, San Diego, California. All capitalized terms used but not otherwise defined herein shall have the meanings
given them in the Amended Lease (as defined in the Amendment). 
 1. General Requirements. 

1.1. Authorized Representatives. 
 (a) Landlord designates, as Landlord’s authorized representative (“Landlord’s Authorized Representative”), (i) Federico Mina as the person authorized to initial plans,
drawings, approvals and to sign change orders pursuant to this Second Work Letter and (ii) an officer of Landlord as the person authorized to sign any amendments to this Second Work Letter or the Lease. Tenant shall not be obligated to respond
to or act upon any such item until such item has been initialed or signed (as applicable) by the appropriate Landlord’s Authorized Representative. Landlord may change either Landlord’s Authorized Representative upon one (1) business
day’s prior written notice to Tenant. 
 (b) Tenant designates Mary Glanville (“Tenant’s Authorized
Representative”) as the person authorized to initial and sign all plans, drawings, change orders and approvals pursuant to this Second Work Letter. Landlord shall not be obligated to respond to or act upon any such item until such item has
been initialed or signed (as applicable) by Tenant’s Authorized Representative. Tenant may change Tenant’s Authorized Representative upon one (1) business day’s prior written notice to Landlord. 

1.2. Schedule. The schedule for design and development of the Second Additional Tenant Improvements, including the time periods
for preparation and review of construction documents, approvals and performance, shall be in accordance with a schedule to be prepared by Tenant (the “Schedule”). Tenant shall prepare the Schedule so that it is a reasonable schedule
for the completion of the Second Additional Tenant Improvements. As soon as the Schedule is completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed.
Such Schedule shall be approved or disapproved by Landlord within five (5) business days after delivery to Landlord. Landlord’s failure to respond within such five (5) business day period shall be deemed approval by Landlord. If
Landlord disapproves the Schedule, then Landlord shall notify Tenant in writing of its objections to such Schedule, and the parties shall confer and negotiate in good faith to reach 

  
 B-1

 
agreement on the Schedule. The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as provided in this Second Work Letter. 

1.3. Tenant’s Architects, Contractors and Consultants. The architect, engineering consultants, design team, general
contractor and subcontractors responsible for the construction of the Second Additional Tenant Improvements shall be selected by Tenant and approved by Landlord, which approval Landlord shall not unreasonably withhold, condition or delay. Landlord
may refuse to use any architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. All Tenant contracts related to the Second Additional Tenant Improvements shall provide
that Tenant may assign such contracts and any warranties with respect to the Second Additional Tenant Improvements to Landlord at any time. 

2. Second Additional Tenant Improvements. All Second Additional Tenant Improvements shall be performed by Tenant’s contractor, at
Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Second Base TI Allowance and, if properly requested by Tenant pursuant to the terms of the Lease, the Second Additional TI Allowance) and
in accordance with the Approved Plans (as defined below), the Amended Lease and this Second Work Letter. To the extent that the total projected cost of the Second Additional Tenant Improvements (as projected by Landlord) exceeds the TI Allowance
(such excess, the “Excess TI Costs”), Tenant shall advance to Landlord any Excess TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant commences the Second Additional Tenant
Improvements. If the actual Excess TI Costs are less than the Excess TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the
final accounting for the Second Additional Tenant Improvements. If the cost of the Second Additional Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall
deposit any additional Excess TI Costs with Landlord in the same way that Tenant deposited the initial Excess TI Costs. If Tenant fails to pay, or is late in paying, any sum due to Landlord under this Second Work Letter, then Landlord shall have all
of the rights and remedies set forth in the Lease for nonpayment of Rent (including the right to interest and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same shall be considered
Rent. All material and equipment furnished by Tenant or its contractors as the Second Additional Tenant Improvements shall be new or “like new;” the Second Additional Tenant Improvements shall be performed in a first-class, workmanlike
manner; and the quality of the Second Additional Tenant Improvements shall be of a nature and character not less than the Building Standard. Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the
First Floor Premises during the performance of any Second Additional Tenant Improvements, including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. 

2.1. Work Plans. Tenant shall prepare and submit to Landlord for approval schematics covering the Second Additional Tenant
Improvements prepared in conformity with the applicable provisions of this Second Work Letter (the “Draft Schematic Plans”). The Draft Schematic Plans shall contain sufficient information and detail to accurately describe the

  
 B-2

 
proposed design to Landlord and such other information as Landlord may reasonably request. Landlord shall notify Tenant in writing within five (5) business days after receipt of the Draft
Schematic Plans whether Landlord approves or objects to the Draft Schematic Plans and of the manner, if any, in which the Draft Schematic Plans are unacceptable. Landlord’s failure to respond within such five (5) business day period shall
be deemed approval by Landlord. If Landlord reasonably objects to the Draft Schematic Plans, then Tenant shall revise the Draft Schematic Plans and cause Landlord’s objections to be remedied in the revised Draft Schematic Plans. Tenant shall
then resubmit the revised Draft Schematic Plans to Landlord for approval, such approval not to be unreasonably withheld, conditioned or delayed. Landlord’s approval of or objection to revised Draft Schematic Plans and Tenant’s correction
of the same shall be in accordance with this Section until Landlord has approved the Draft Schematic Plans in writing or been deemed to have approved them. The iteration of the Draft Schematic Plans that is approved or deemed approved by Landlord
without objection shall be referred to herein as the “Approved Schematic Plans.” 
 2.2. Construction
Plans. Tenant shall prepare final plans and specifications for the Second Additional Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans and (b) incorporate any other
Tenant-requested (and Landlord-approved) Changes (as defined below). As soon as such final plans and specifications (“Construction Plans”) are completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which
approval shall not be unreasonably withheld, conditioned or delayed. Such Construction Plans shall be approved or disapproved by Landlord within five (5) business days after delivery to Landlord. Landlord’s failure to respond within such
five (5) business day period shall be deemed approval by Landlord. If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing of its objections to such Construction Plans, and the parties shall confer
and negotiate in good faith to reach agreement on the Construction Plans. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction Plans shall be initialed and dated by Landlord and Tenant,
and Tenant shall promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders specifically permitted by this Second Work Letter, are referred to herein as
the “Approved Plans.” 
 2.3. Changes to the Second Additional Tenant Improvements. Any changes to the
Approved Plans (each, a “Change”) shall be requested and instituted in accordance with the provisions of this Article 2 and shall be subject to the written approval of the non-requesting party in accordance with this Second
Work Letter. 
 (a) Change Request. Either Landlord or Tenant may request Changes after Landlord approves the Approved
Plans by notifying the other party thereof in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any requested Changes,
including (a) the Change, (b) the party required to perform the Change and (c) any modification of the Approved Plans and the Schedule, as applicable, necessitated by the Change. If the nature of a Change requires revisions to the
Approved Plans, then the requesting party shall be solely responsible for the cost and expense of such revisions and any increases in the cost of the Second Additional 

  
 B-3

 
Tenant Improvements as a result of such Change. Change Requests shall be signed by the requesting party’s Authorized Representative. 

(b) Approval of Changes. All Change Requests shall be subject to the other party’s prior written approval, which approval
shall not be unreasonably withheld, conditioned or delayed. The non-requesting party shall have five (5) business days after receipt of a Change Request to notify the requesting party in writing of the non-requesting party’s decision
either to approve or object to the Change Request. The non-requesting party’s failure to respond within such five (5) business day period shall be deemed approval by the non-requesting party. 

2.4. Preparation of Estimates. Tenant shall, before proceeding with any Change, using its best efforts, prepare as soon as is
reasonably practicable (but in no event more than five (5) business days after delivering a Change Request to Landlord or receipt of a Change Request) an estimate of the increased costs or savings that would result from such Change, as well as
an estimate on such Change’s effects on the Schedule. Landlord shall have five (5) business days after receipt of such information from Tenant to (a) in the case of a Tenant-initiated Change Request, approve or reject such Change
Request in writing, or (b) in the case of a Landlord-initiated Change Request, notify Tenant in writing of Landlord’s decision either to proceed with or abandon the Landlord-initiated Change Request. 

3. Completion of Second Additional Tenant Improvements. Tenant, at its sole cost and expense (except for the Second Base TI Allowance and, if
properly requested by Tenant pursuant to the terms of the Lease, the Second Additional TI Allowance), shall perform and complete the Second Additional Tenant Improvements in all respects (a) in substantial conformance with the Approved Plans,
(b) otherwise in compliance with provisions of the Amended Lease and this Second Work Letter and (c) in accordance with Applicable Laws, the requirements of Tenant’s insurance carriers, the requirements of Landlord’s insurance
carriers (to the extent Landlord provides its insurance carriers’ requirements to Tenant) and the board of fire underwriters having jurisdiction over the First Floor Premises. The Second Additional Tenant Improvements shall be deemed completed
at such time as Tenant shall furnish to Landlord (v) evidence satisfactory to Landlord that (i) all Second Additional Tenant Improvements have been completed and paid for in full (which shall be evidenced by the architect’s
certificate of completion and the general contractor’s and each subcontractor’s and material supplier’s final unconditional waivers and releases of liens, each in a form acceptable to Landlord and complying with Applicable Laws),
(ii) all Second Additional Tenant Improvements have been accepted by Landlord, (iii) any and all liens related to the Second Additional Tenant Improvements have either been discharged of record (by payment, bond, order of a court of
competent jurisdiction or otherwise) or waived by the party filing such lien and (iv) no security interests relating to the Second Additional Tenant Improvements are outstanding, (w) all certifications and approvals with respect to the
Second Additional Tenant Improvements that may be required from any Governmental Authority and any board of fire underwriters or similar body for the use and occupancy of the First Floor Premises, (x) certificates of insurance required by the
Lease to be purchased and maintained by Tenant, (y) an affidavit from Tenant’s architect certifying that all work performed in, on or about the Premises is in accordance with the Approved Plans and (z) complete drawing print sets and
electronic CADD files on disc of all contract documents for work performed by their architect and engineers in relation to the Second Additional Tenant Improvements. 

  
 B-4

 4. Insurance. 
 4.1. Property Insurance. At all times during the period beginning with commencement of construction of the Second Additional Tenant Improvements and ending with final completion of the Second
Additional Tenant Improvements, Tenant shall maintain, or cause to be maintained (in addition to the insurance required of Tenant pursuant to the Amended Lease), property insurance insuring Landlord and the Landlord Parties, as their interests may
appear. Such policy shall, on a completed values basis for the full insurable value at all times, insure against loss or damage by fire, vandalism and malicious mischief and other such risks as are customarily covered by the so-called “broad
form extended coverage endorsement” upon all Second Additional Tenant Improvements and the general contractor’s and any subcontractors’ machinery, tools and equipment, all while each forms a part of, or is contained in, the Second
Additional Tenant Improvements or any temporary structures on the First Floor Premises, or is adjacent thereto; provided that, for the avoidance of doubt, insurance coverage with respect to the general contractor’s and any
subcontractors’ machinery, tools and equipment shall be carried on a primary basis by such general contractor or the applicable subcontractor(s). Tenant agrees to pay any deductible, and Landlord is not responsible for any deductible, for a
claim under such insurance. Such property insurance shall contain an express waiver of any right of subrogation by the insurer against Landlord and the Landlord Parties, and shall name Landlord and its affiliates as loss payees as their interests
may appear. 
 4.2. Workers’ Compensation Insurance. At all times during the period of construction of the Second
Additional Tenant Improvements, Tenant shall, or shall cause its contractors or subcontractors to, maintain statutory workers’ compensation insurance as required by Applicable Laws. 
 5. Liability. Tenant assumes sole responsibility and liability for any and all injuries or the death of any persons, including Tenant’s contractors and subcontractors and their respective
employees, agents and invitees, and for any and all damages to property caused by, resulting from or arising out of any act or omission on the part of Tenant, Tenant’s contractors or subcontractors, or their respective employees, agents and
invitees in the prosecution of the Second Additional Tenant Improvements. Tenant agrees to indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and
against all Claims due to, because of or arising out of any and all such injuries, death or damage, whether real or alleged, and Tenant and Tenant’s contractors and subcontractors shall assume and defend at their sole cost and expense all such
Claims; provided, however, that nothing contained in this Second Work Letter shall be deemed to indemnify or otherwise hold Landlord harmless from or against liability caused by Landlord’s negligence or willful misconduct. Any
deficiency in design or construction of the Second Additional Tenant Improvements shall be solely the responsibility of Tenant, notwithstanding the fact that Landlord may have approved of the same in writing. 

6. TI Allowance. 
 6.1.
Application of TI Allowance. Landlord shall contribute, in the following order, the Second Base TI Allowance; if properly requested by Tenant pursuant to the terms of the 

  
 B-5

 
Lease, the Second Additional TI Allowance; and any Excess TI Costs advanced by Tenant to Landlord toward the costs and expenses incurred in connection with the performance of the Second
Additional Tenant Improvements, in accordance with Article 4 of the Amendment. If the entire Second TI Allowance is not applied toward or reserved for the costs of the Second Additional Tenant Improvements, then Tenant shall not be entitled
to a credit of such unused portion of the Second TI Allowance. If the entire Excess TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Second Additional Tenant Improvements, then Landlord shall promptly return such
excess to Tenant following completion of the Second Additional Tenant Improvements. Tenant may apply the Second Base TI Allowance and, if properly requested by Tenant pursuant to the terms of the Amendment, the Second Additional TI Allowance for the
payment of construction and other costs in accordance with the terms and provisions of the Amendment. 
 6.2. Approval of
Budget for the Second Additional Tenant Improvements. Notwithstanding anything to the contrary set forth elsewhere in this Second Work Letter or the Lease, Landlord shall not have any obligation to expend any portion of the Second TI Allowance
until Landlord and Tenant shall have approved in writing the budget for the Second Additional Tenant Improvements (the “Approved Budget”). Prior to Landlord’s approval of the Approved Budget, Tenant shall pay all of the costs
and expenses incurred in connection with the Second Additional Tenant Improvements as they become due. Landlord shall not be obligated to reimburse Tenant for costs or expenses relating to the Second Additional Tenant Improvements that exceed the
amount of the Second TI Allowance. Landlord shall not unreasonably withhold, condition or delay its approval of any budget for Second Additional Tenant Improvements that is proposed by Tenant. 

6.3. Fund Requests. Upon submission by Tenant to Landlord of (a) a statement (a “Fund Request”) setting
forth the total amount of the Second TI Allowance requested, (b) a summary of the Second Additional Tenant Improvements performed using AIA standard form Application for Payment (G 702) executed by the general contractor and by the architect,
(c) invoices from the general contractor, the architect, and any subcontractors, material suppliers and other parties requesting payment with respect to the amount of the Second TI Allowance then being requested, (d) unconditional lien
releases from the general contractor and each subcontractor and material supplier with respect to previous payments made by either Landlord or Tenant for the Second Additional Tenant Improvements in a form acceptable to Landlord and complying with
Applicable Laws and (e) conditional lien releases from the general contractor and each subcontractor and material supplier with respect to the Second Additional Tenant Improvements performed that correspond to the Fund Request each in a form
acceptable to Landlord and complying with Applicable Laws, then Landlord shall, within thirty (30) days following receipt by Landlord of a Fund Request and the accompanying materials required by this Section, pay to (as elected by Landlord) the
applicable contractors, subcontractors and material suppliers or Tenant (for reimbursement for payments made by Tenant to such contractors, subcontractors or material suppliers either prior to Landlord’s approval of the Approved Budget or as a
result of Tenant’s decision to pay for the Second Additional Tenant Improvements itself and later seek reimbursement from Landlord in the form of one lump sum payment in accordance with the Amendment and this Second Work Letter), the amount of
Second Additional Tenant Improvements costs set forth in such Fund Request or Landlord’s pari 

  
 B-6

 
passu share thereof if Excess TI Costs exist based on the Approved Budget; provided, however, that Landlord shall not be obligated to make any payments under this Section until the budget
for the Second Additional Tenant Improvements is approved in accordance with Section 6.2 above, and any Fund Request under this Section shall be subject to the payment limits set forth in Section 6.2 above and Article
4 of the Amendment. 
 7. Miscellaneous. 
 7.1. Number; Headings. Where applicable in this Second Work Letter, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The section headings of
this Second Work Letter are not a part of this Second Work Letter and shall have no effect upon the construction or interpretation of any part hereof. 
 7.2. Attorneys’ Fees. If either party commences a demand, claim, action, cause of action or suit against the other party arising out of or in connection with this Second Work Letter, then the
substantially prevailing party shall be reimbursed by the other party for all reasonable costs and expenses, including reasonable attorneys’ fees and expenses, incurred by the substantially prevailing party in such action or proceeding and in
any appeal in connection therewith (regardless of whether the applicable demand, claim, action, cause of action or suit is voluntarily withdrawn or dismissed). 
 7.3. Time of Essence. Time is of the essence with respect to the performance of every provision of this Second Work Letter in which time of performance is a factor. 

7.4. Covenant and Condition. Each provision of this Second Work Letter performable by Tenant shall be deemed both a covenant and a
condition. 
 7.5. Withholding of Consent. Whenever consent or approval of either party is required, that party shall not
unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth to the contrary. 

7.6. Invalidity. Any provision of this Second Work Letter that shall prove to be invalid, void or illegal shall in no way affect,
impair or invalidate any other provision hereof, and all other provisions of this Second Work Letter shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 

7.7. Interpretation. The language in all parts of this Second Work Letter shall be in all cases construed as a whole according to
its fair meaning and not strictly for or against either Landlord or Tenant. 
 7.8. Successors. Each of the covenants,
conditions and agreements herein contained shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns,
sublessees. Nothing in this Section shall in any way alter the provisions of the Lease restricting assignment or subletting. 

  
 B-7

 7.9. Governing Law. This Second Work Letter shall be governed by, construed and
enforced in accordance with the laws of the state in which the Premises are located, without regard to such state’s conflict of law principles. 
 7.10. Power and Authority. Tenant guarantees, warrants and represents that the individual or individuals signing this Second Work Letter have the power, authority and legal capacity to sign this
Second Work Letter on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed. 

7.11. Counterparts. This Second Work Letter may be executed in one or more counterparts, each of which, when taken together, shall
constitute one and the same document. 
 7.12. Amendments; Waiver. No provision of this Second Work Letter may be
modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any breach by Tenant of any term, covenant or condition herein contained shall not be deemed to be a waiver of any
subsequent breach of the same or any other term, covenant or condition herein contained. 
 7.13. Waiver of Jury Trial.
To the extent permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding or counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Second Work Letter; the
relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury or damage related to this Second Work Letter or the Premises. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 B-8

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Second Work Letter to be
effective on the date first above written. 
  

			
	LANDLORD:
	 BMR-3545-3575 JOHN HOPKINS LP,
 a Delaware limited partnership

		
	By:	 	 /s/ Kevin M. Simonsen

	Name:	 	 Kevin M. Simonsen

	Title:	 	 VP, Real Estate Counsel

	
	TENANT:
	
	 REGULUS THERAPEUTICS INC.,
 a Delaware corporation

		
	By:	 	 /s/ Garry E. Menzel

	Name:	 	 Garry E. Menzel, Ph.D.

	Title:	 	 Chief Operating Officer and

		 	 Executive Vice President, Finance

  
 B-9

 EXHIBIT C 
 ACKNOWLEDGEMENT OF SECOND ADDITIONAL PREMISES COMMENCEMENT DATE 

THIS ACKNOWLEDGEMENT OF SECOND ADDITIONAL PREMISES COMMENCEMENT DATE is entered into as of
[                    ], 20[    ], with reference to that certain Lease dated as of March 19, 2010, as amended by that
certain First Amendment to Lease dated as of April 26, 2010, that certain Second Amendment to Lease dated as of January 26, 2011, that certain Third Amendment to Lease dated as of February 27, 2012 and that certain Fourth Amendment to
Lease dated as of November 19, 2012 (the “Fourth Amendment” and collectively, as the same may have been further amended, amended and restated, supplemented or modified from time to time, the “Lease”), by
REGULUS THERAPEUTICS INC., a Delaware corporation (“Tenant”), in favor of BMR-3545-3575 JOHN HOPKINS LP, a Delaware limited partnership (“Landlord”). All capitalized terms used herein without definition shall have
the meanings ascribed to them in the Lease. 
 Tenant hereby confirms the following: 

1. Tenant accepted possession of the Second Additional Premises for construction of improvements or the installation of personal or other
property on [                    ], 20[    ], and for use in accordance with the Permitted Use on
[                    ], 20[    ]. Tenant first occupied the Second Additional Premises for the Permitted Use on
[                    ], 20[    ].] 
 2. The Second Additional Premises are in good order, condition and repair. 
 3.
The Second Additional Second Additional Tenant Improvements are Substantially Complete. 
 4. All conditions of the Amended
Lease to be performed by Landlord as a condition to the full effectiveness of the Lease have been satisfied, and Landlord has fulfilled all of its duties in the nature of inducements offered to Tenant to lease the Premises. 

5. In accordance with the provisions of Article 4 of the Fourth Amendment, the Second Additional Premises Commencement Date is
[                    ], 20[    ], and, unless the Lease is terminated prior to the Term Expiration Date pursuant to its terms,
the Term Expiration Date shall be [                    ], 20[    ]. 

6. The Lease is in full force and effect, and the same represents the entire agreement between Landlord and Tenant concerning the
Premises. 
 7. Tenant has no existing defenses against the enforcement of the Lease by Landlord, and there exist no offsets or
credits against Rent owed or to be owed by Tenant. 
 8. The obligation to pay Rent is presently in effect and all Rent
obligations on the part of Tenant (with respect to the Second Additional Premises) under the Lease commenced to accrue on [                    ],
20[    ], with Base Rent payable on the dates and amounts set forth in the chart below: 

  
 C-1

 First Floor Premises Base Rent: 

 

																	
	 Dates (as of the Second Additional Premises Commencement Date)
	  	Square
Feet of
Rentable
Area	 	  	Monthly
Base
Rent per
Square
Foot of
Rentable
Area	 	  	Monthly
Base Rent	 	  	Annual Base
Rent*	 
	 Months 1-5
	  	 	7,344	  	  	$	0.00	  	  	$	0.00	  	  	 	N/A	  
	 Months 6-12
	  	 	7,344	  	  	$	3.00	  	  	$	22,032.00	  	  	$	264,384.00	  
	 Months 13-24
	  	 	7,344	  	  	$	3.09	  	  	$	22,692.96	  	  	$	272,315.52	  
	 Months 25-36
	  	 	7,344	  	  	$	3.18	  	  	$	23,353.92	  	  	$	280,247.04	  
	 Months 37-48
	  	 	7,344	  	  	$	3.28	  	  	$	24,088.32	  	  	$	289,059.84	  
	 Month 49-June 30, 2017
	  	 	7,344	  	  	$	3.38	  	  	$	24,822.72	  	  	$	297,872.64	  

  

	*	Based on a twelve-month calculation 

Second Floor Premises Base Rent: 
  

																	
	 Dates
	  	Square
Feet of
Rentable
Area	 	  	Base Rent per
Square Foot of
Rentable Area	 	  	Monthly
Base Rent	 	  	Annual Base
Rent*	 
	 Second Additional Premises Commencement Date – June 30, 2013
	  	 	21,470	  	  	$	2.44 monthly	  	  	$	52,386.80	  	  	$	628,641.60	  
	 July 1, 2013 – June 30, 2014
	  	 	21,470	  	  	$	2.69 monthly	  	  	$	57,754.30	  	  	$	693,051.60	  
	 July 1, 2014 – June 30, 2015
	  	 	21,470	  	  	$	2.94 monthly	  	  	$	63,121.80	  	  	$	757,461.60	  

  
 C-2

																	
	 July 1, 2015 – June 30, 2016
	  	 	21,470	  	  	$	3.19 monthly	  	  	$	68,489.30	  	  	$	821,871.60	  
	 July 1, 2016 – June 30, 2017
	  	 	21,470	  	  	$	3.44 monthly	  	  	$	73,856.80	  	  	$	886,281.60	  

  

	*	Based on a twelve-month calculation 

 9. The
undersigned Tenant has not made any prior assignment, transfer, hypothecation or pledge of the Lease or of the rents thereunder or sublease of the Premises or any portion thereof. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 C-3

 IN WITNESS WHEREOF, Tenant has executed this Acknowledgment of Second Additional Premises
Commencement Date as of the date first written above. 
  

			
	TENANT:
	
	 REGULUS THERAPEUTICS INC.,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 C-1

 EXHIBIT D 
 FORM OF SECOND ADDITIONAL TI ALLOWANCE ACCEPTANCE LETTER 
 [TENANT
LETTERHEAD] 
 BMR-3545-3575 John Hopkins LP 
 17190 Bernardo Center Drive 
 San Diego, California 92128 

Attn: Vice President, Real Estate Counsel 
 [Date] 
  

	 	Re:	Second Additional TI Allowance 

 To Whom
It May Concern: 
 This letter concerns certain Lease dated as of March 19, 2010, as amended by that certain First
Amendment to Lease dated as of April 26, 2010, that certain Second Amendment to Lease dated as of January 26, 2011, that certain Third Amendment to Lease dated as of February 27, 2012 and that certain Fourth Amendment to Lease dated
as of November 19, 2012 (the “Fourth Amendment” and collectively, as the same may have been further amended, amended and restated, supplemented or modified from time to time, the “Lease”), between BMR-3545-3575
John Hopkins LP (“Landlord”) and Regulus Therapeutics Inc. (“Tenant”). Capitalized terms not otherwise defined herein shall have the meanings given them in the Lease. 

Tenant hereby notifies Landlord that it wishes to exercise its right to utilize the Second Additional TI Allowance pursuant to Article
4 of the Fourth Amendment. 
 If you have any questions, please do not hesitate to call
[            ] at ([    ]) [    ]-[    ]. 

 

	
	Sincerely,
	
	[Name]
	[Title of Authorized Signatory]

  

	cc:	Greg Lubushkin 

 Karen Sztraicher

 John Bonanno 
 Kevin Simonsen 

  
 D-1

 EXHIBIT E 
 LANDLORD WORK 
  

	 	•	 	 Replace flooring in south elevator lobby and vestibule and paint the corresponding stairwell (the “Stairwell”)

  

	 	•	 	 Replace stair treads in the Stairwell 

  
 E-1

 EXHIBIT F 
 ADDITIONAL TENANT SPACE 

  
 F-1

 EXHIBIT G 
 STORAGE REDUCTION SPACE 

  
 G-1

 EXHIBIT H 
 EMERGENCY EXIT ROUTE 

  
 H-1

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