Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

REVANCE THERAPEUTICS, INC. 

$75,000,000 
 COMMON
STOCK 
 SALES AGREEMENT 

March 7, 2016 
 Cowen and Company, LLC 

599 Lexington Avenue 
 New York, NY 10022 

Ladies and Gentlemen: 
 Revance Therapeutics,
Inc., a Delaware corporation (the “Company”), confirms its agreement (this “Agreement”) with Cowen and Company, LLC (“Cowen”), as follows: 

1. Issuance and Sale of Shares. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject
to the conditions set forth herein, it may issue and sell through Cowen, acting as agent and/or principal, shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), having an aggregate
offering price of up to $75,000,000 (the “Placement Shares”). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitation set forth in this Section 1 on the
number of shares of Common Stock issued and sold under this Agreement shall be the sole responsibility of the Company, and Cowen shall have no obligation in connection with such compliance. The issuance and sale of Common Stock through Cowen will be
effected pursuant to the Registration Statement (as defined below) to be filed by the Company and after such Registration Statement has been declared effective by the Securities and Exchange Commission (the “Commission”),
although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement (as defined below) to issue the Common Stock. 

On the date of this Agreement, the Company has filed, or will file, in accordance with the provisions of the Securities Act of 1933, as
amended, and the rules and regulations thereunder (collectively, the “Securities Act”), with the Commission a registration statement on Form S-3, including a base prospectus, relating to certain securities, including the
Placement Shares, to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the
rules and regulations thereunder (collectively, the “Exchange Act”). The Company has prepared a prospectus specifically relating to the Placement Shares included as part of such registration statement (the “Base
Prospectus”). The Company will furnish to Cowen, for use by Cowen, copies of the prospectus included as part of such registration statement relating to the Placement Shares. Except where the context otherwise requires, such registration
statement, as amended when it became effective, including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission
pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule 430B or 462(b) of the Securities Act, is herein called the “Registration Statement.” The Base
Prospectus, including all documents incorporated therein by reference, included 

 in the Registration Statement, as it may be supplemented by any prospectus supplement, in the form in which such
Base Prospectus and/or prospectus supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act, together with any “issuer free writing prospectus,” as defined in Rule 433 of
the Securities Act (“Rule 433”), relating to the Placement Shares that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i), in each case in the form filed
or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g), is herein called the “Prospectus.” Any reference herein to the
Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any reference herein to the terms “amend,” “amendment” or
“supplement” with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For
purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the Commission pursuant to the Electronic Data Gathering Analysis and
Retrieval System or any successor thereto (collectively “EDGAR”). 
 2. Placements. Each time that the
Company wishes to issue and sell the Placement Shares hereunder (each, a “Placement”), it will notify Cowen by email notice (or other method mutually agreed to in writing by the parties) (a “Placement
Notice”) containing the parameters in accordance with which it desires the Placement Shares to be sold, which shall at a minimum include the number of Placement Shares, the time period during which sales are requested to be made, any
limitation on the number of Placement Shares that may be sold in any one Trading Day (as defined in Section 3) and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters necessary is
attached hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company set forth on Schedule 2 attached hereto (with a copy to each of the other individuals from the
Company listed on such schedule), and shall be addressed to each of the individuals from Cowen set forth on Schedule 2, as such Schedule 2 may be amended from time to time. The Placement Notice shall be effective upon
receipt by Cowen unless and until (i) in accordance with the notice requirements set forth in Section 4, Cowen declines to accept the terms contained therein for any reason, in its sole discretion, (ii) the entire amount of the Placement
Shares have been sold, (iii) in accordance with the notice requirements set forth in Section 4, the Company suspends or terminates the Placement Notice, (iv) the Company issues a subsequent Placement Notice with parameters superseding those
on the earlier dated Placement Notice, or (v) this Agreement has been terminated under the provisions of Section 11. The amount of any discount, commission or other compensation to be paid by the Company to Cowen in connection with the sale
of the Placement Shares shall be calculated in accordance with the terms set forth in Schedule 3. It is expressly acknowledged and agreed that neither the Company nor Cowen will have any obligation whatsoever with respect to a
Placement or any Placement Shares unless and until the Company delivers a Placement Notice to Cowen and Cowen does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein. In
the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control. 

3. Sale of Placement Shares by Cowen. Subject to the terms and conditions herein set forth, upon the Company’s issuance of a
Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this 

  
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Agreement, Cowen, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and
federal laws, rules and regulations and the rules of The NASDAQ Global Market (“Nasdaq”) to sell such Placement Shares up to the amount specified in such Placement Notice, and otherwise in accordance with the terms of such
Placement Notice. Cowen will provide written confirmation to the Company (including by email correspondence to each of the individuals of the Company set forth on Schedule 2, if receipt of such correspondence is actually acknowledged
by any of the individuals to whom the notice is sent, other than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Shares hereunder setting
forth the number of Placement Shares sold on such day, the volume-weighted average price of the Placement Shares sold, and the Net Proceeds (as defined below) payable to the Company. Subject to the terms of a Placement Notice, Cowen may sell
Placement Shares by any method permitted by law deemed to be an “at the market” offering as defined in Rule 415 of the Securities Act, including without limitation sales made through Nasdaq, on any other existing trading market for the
Common Stock or to or through a market maker. If expressly authorized by the Company in a Placement Notice, Cowen may also sell Placement Shares in negotiated transactions. Notwithstanding the provisions of Section 6(nn), Cowen shall not
purchase Placement Shares for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that Cowen will be successful in selling
Placement Shares, and (ii) Cowen will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by Cowen to use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such Placement Shares as required under this Section 3. For the purposes hereof, “Trading Day” means any day on which the Company’s Common Stock is
purchased and sold on the principal market on which the Common Stock is listed or quoted. During the term of this Agreement, neither Cowen nor any of its affiliates or subsidiaries shall engage in (i) any short sale of any security of the Company,
(ii) any sale of any security of the Company that Cowen does not own or any sale which is consummated by the delivery of a security of the Company borrowed by, or for the account of, Cowen or (iii) any market-making, bidding, stabilization or other
trading activity with respect to the Common Stock or related derivative securities if such activity described in clauses (i), (ii) or (iii) is prohibited under Regulation M or other anti-manipulation rules under the Securities Act. 

4. Suspension of Sales. 

(a) The Company or Cowen may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the
other party set forth on Schedule 2, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable
facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule 2), suspend any sale of Placement Shares; provided, however, that such suspension shall not affect or impair
either party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice. Each of the Parties agrees that no such notice under this Section 4 shall be effective against the other unless it is
made to one of the individuals named on Schedule 2 hereto, as such schedule may be amended in writing from time to time. 

  
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 (b) Notwithstanding any other provision of this Agreement, during any period in which the Company
is in possession of material non-public information, the Company and Cowen agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the sale of any Placement Shares, and (iii) Cowen shall not be obligated to
sell or offer to sell any Placement Shares. 
 (c) If either Cowen or the Company has reason to believe that the exemptive provisions set
forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Common Stock, it shall promptly notify the other party, and Cowen may, at its sole discretion, suspend sales of the Placement Shares under this
Agreement. 
 5. Settlement. 

(a) Settlement of Placement Shares. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement
Shares will occur on the third (3rd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a
“Settlement Date” and the first such settlement date, the “First Delivery Date”). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold
(the “Net Proceeds”) will be equal to the aggregate sales price received by Cowen at which such Placement Shares were sold, after deduction for (i) Cowen’s commission, discount or other compensation for such sales
payable by the Company pursuant to Section 2 hereof, (ii) any other amounts due and payable by the Company to Cowen hereunder pursuant to Section 7(g) (Expenses) hereof, and (iii) any transaction fees imposed by any governmental or
self-regulatory organization in respect of such sales. 
 (b) Delivery of Placement Shares. On or before each Settlement Date, the
Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting Cowen’s or its designee’s account (provided Cowen shall have given the Company written notice of such designee at least
one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be
freely tradeable, transferable, registered shares in good deliverable form. On each Settlement Date, Cowen will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. Cowen
will be responsible for providing DWAC instructions or instructions for delivery by other means with regard to the transfer of Placement Shares being sold. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in
its obligation to deliver duly authorized Placement Shares on a Settlement Date (other than as a result of a failure by Cowen to provide instructions for delivery), the Company agrees that in addition to and in no way limiting the rights and
obligations set forth in Section 9(a) (Indemnification and Contribution) hereto, it will (i) hold Cowen harmless against any loss, claim, damage, or reasonable, documented expense (including reasonable legal fees and expenses), as incurred,
arising out of or in connection with such default by the Company and (ii) pay to Cowen (without duplication) any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. 

  
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 6. Representations and Warranties of the Company. Except as disclosed in the Registration
Statement or the Prospectus, the Company represents and warrants to, and agrees with, Cowen that as of the date of this Agreement and as of each Applicable Time (as defined in Section 20(a)), unless otherwise provided: 

(a) Compliance with Registration Requirements. The Registration Statement has been filed and will be declared effective by the
Commission under the Securities Act prior to the issuance of any Placement Notice by the Company. The Company has complied to the Commission’s satisfaction with all requests of the Commission for additional or supplemental information. No stop
order suspending the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated or
threatened by the Commission. The Company meets the requirements for use of Form S-3 under the Securities Act. The sale of the Placement Shares hereunder meets the requirements of General Instruction I.B.1 of Form S-3. 

(b) No Misstatement or Omission. The Registration Statement, when it becomes effective, and the Prospectus, and any amendment or
supplement thereto, on the date of such Prospectus when filed will comply or complied and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act. Each of the Registration Statement, any
Rule 462(b) Registration Statement and any post-effective amendment thereto, at the time it became effective, complied and, as of each of the Settlement Dates, if any, will comply in all material respects with the Securities Act and did not
and, as of each of the Settlement Dates, if any, will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as
amended or supplemented, as of its date, did not and, as of each of the Settlement Dates, if any, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement, any Rule
462(b) Registration Statement, or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information relating to Cowen furnished to the Company in writing by
Cowen expressly for use therein. There are no contracts or other documents required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required. 

(c) Exchange Act Compliance. The documents incorporated or deemed to be incorporated by reference in the Prospectus, at the time they
were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange Act, and, when read together with the other information in the Prospectus, at the Settlement Dates, will not
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading. 
 (d) Offering Materials Furnished to Cowen. The Company has delivered to Cowen one
complete copy of the Registration Statement and a copy of each consent and certificate of experts filed as a part thereof, and conformed copies of the Registration Statement (without exhibits) and the Prospectus, as amended or supplemented, in such
quantities and at such places as Cowen has reasonably requested. 

  
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 (e) Distribution of Offering Material by the Company. The Company has not distributed and
will not distribute, prior to the completion of Cowen’s distribution of the Placement Shares pursuant to this Agreement, any offering material in connection with the offering and sale of the Placement Shares other than the Prospectus or the
Registration Statement or any free writing prospectus (as defined in Rule 405 under the Securities Act) reviewed and consented to by Cowen. 

(f) The Sales Agreement. This Agreement has been duly authorized, executed and delivered by, and is a valid and binding agreement of,
the Company, enforceable against the Company in accordance with its terms, except as rights to indemnification hereunder may be limited by applicable law and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization,
moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles. 
 (g)
Authorization of the Common Stock. The Placement Shares, when issued and delivered, will be duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor to Cowen
pursuant to this Agreement, will be duly authorized, validly issued, fully paid and nonassessable. 
 (h) No Applicable Registration or
Other Similar Rights. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except
for such rights as have been duly waived. 
 (i) Ineligible Issuer Status. The Company is not an “ineligible issuer” as
defined in Rule 405 under the Securities Act, including (x) the Company or any subsidiary of the Company in the preceding three years not having been convicted of a felony or misdemeanor or having been made the subject of a judicial or
administrative decree or order as described in Rule 405 under the Securities Act and (y) the Company in the preceding three years not having been the subject of a bankruptcy petition or insolvency or similar proceeding, not having had a registration
statement be the subject of a proceeding under Section 8 of the Securities Act and not being the subject of a proceeding under Section 8A of the Securities Act in connection with the offering of the Placement Shares, all as described in Rule 405
under the Securities Act. 
 (j) Good Standing of the Company. The Company has been duly incorporated and is existing and in good
standing under the laws of the State of Delaware, with corporate power and authority to own its properties and conduct its business as described in the Prospectus; and the Company is duly qualified to do business as a foreign corporation in good
standing in all other jurisdictions in which its ownership or lease of property or the conduct of its business requires such qualification, except where any such failure to be so duly qualified or in good standing would not, individually or in the
aggregate, reasonably be expected to result in a material adverse effect on the condition (financial or otherwise), results of operations, business, properties or prospects of the Company and its subsidiaries, taken as a whole (a
“Material Adverse Effect”). 
 (k) Subsidiaries. Each subsidiary of the Company has been duly incorporated
and is existing and in good standing under the laws of the jurisdiction of its incorporation, with power and authority (corporate and other) to own its properties and conduct its business as described in the Prospectus; and

  
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each subsidiary of the Company is duly qualified to do business as a foreign corporation in good standing in all other jurisdictions in which its ownership or lease of property or the conduct of
its business requires such qualification, except where any such failure to be so duly qualified or in good standing would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; all of the issued and
outstanding capital stock of each subsidiary of the Company has been duly authorized and validly issued and is fully paid and nonassessable, and the capital stock of each subsidiary owned by the Company, directly or through subsidiaries, is owned
free from liens, encumbrances and defects that would affect the value thereof or interfere with the operation of such subsidiaries or the Company’s exercise of ownership rights with regard thereto. 

(l) Capital Stock Matters. All of the outstanding shares of capital stock of the Company have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding shares of capital stock of the Company are validly issued, fully paid and nonassessable; all outstanding shares of capital stock of the Company conform, and the
Placement Shares, when they have been delivered and paid for in accordance with this Agreement, will conform, in all material respects to the information thereof in the Prospectus; the stockholders of the Company have no preemptive rights with
respect to the Placement Shares; and none of the outstanding shares of capital stock of the Company have been issued in violation of any preemptive or similar rights of any security holder. 

(m) Finder’s Fee. Except as disclosed in the Prospectus, there are no contracts, agreements or understandings between the Company
and any person that would give rise to a valid claim against the Company or Cowen for a brokerage commission, finder’s fee or other like payment in connection with any transactions contemplated by this Agreement. 

(n) Absence of Further Requirements. No consent, approval, authorization, or order of, or filing or registration with, any person
(including any governmental agency or body or any court) is required for the consummation of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Placement Shares by the Company, except such as
have been obtained, or made and such as may be required under state securities or blue sky laws and from the Financial Industry Regulatory Authority (“FINRA”). 

(o) Title to Property. Except as disclosed in the Prospectus, the Company and its subsidiaries have good and marketable title to all
real properties and all other properties and assets owned by them, in each case free from liens, charges, encumbrances and defects that would materially affect the value thereof or materially interfere with the use made or to be made thereof by them
and, except as disclosed in the Prospectus, the Company and its subsidiaries hold any leased real or personal property under valid and enforceable leases with no terms or provisions that would materially interfere with the use made or to be made
thereof by them. 
 (p) Absence of Defaults and Conflicts Resulting from Transaction. The execution, delivery and performance of this
Agreement, and the issuance and sale of the Placement Shares will not result in a breach or violation of any of the terms and provisions of, or constitute a default or a Debt Repayment Triggering Event (as defined below) under, or result in the
imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, (i) the charter or by-laws of the Company or any of its subsidiaries, (ii) any statute, rule, regulation or order of

  
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any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their properties, or (iii) any agreement or instrument
to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject, except as disclosed in the Prospectus and
except that in the case of clauses (ii) and (iii), where any such breach, violation or default would not reasonably be expected to, individually or in the aggregate, have a Material Adverse Effect; a “Debt Repayment Triggering
Event” means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder’s behalf) the right
to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. 

(q) Absence of Existing Defaults and Conflicts. Neither the Company nor any of its subsidiaries is in violation of its respective
charter or by-laws or in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement, covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or
instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject, except such defaults that would not, individually or in the aggregate, result in a Material Adverse Effect. 

(r) Possession of Licenses and Permits. The Company and its subsidiaries possess, and are in compliance with the terms of, all
certificates, authorizations, franchises, licenses and permits, including, without limitation, from the U.S. Food and Drug Administration (“FDA”) and equivalent foreign regulatory authorities
(“Licenses”) necessary for the conduct of the business now conducted by them, except as disclosed in the Prospectus and except where the failure to so possess or be in compliance would not reasonably be expected to,
individually or in the aggregate, have a Material Adverse Effect, and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries,
would individually or in the aggregate have a Material Adverse Effect. 
 (s) Absence of Labor Dispute. No labor dispute with the
employees of the Company or any of its subsidiaries exists or, to the knowledge of the Company, is imminent that would reasonably be expected to have a Material Adverse Effect. 

(t) Intellectual Property. The Company and its subsidiaries own, possess, have the right to use or can acquire on reasonable terms
sufficient trademarks, trade names, patent rights, copyrights, domain names, licenses, trade secrets, inventions, technology, know-how and other intellectual property and similar rights, including registrations and applications for registration
thereof (collectively, “Intellectual Property Rights”) reasonably necessary or material to the conduct of the business now conducted or proposed in the Prospectus to be conducted by them. Except as disclosed in the
Prospectus, the expected expiration of any such Intellectual Property Rights would not, individually or in the aggregate, have a Material Adverse Effect. Except as disclosed in the Prospectus (i) to the Company’s knowledge, there are no rights
of third parties to any of the Intellectual Property Rights owned or purported to be owned by the Company or its subsidiaries (other than Intellectual Property Rights non-exclusive licenses granted by the Company to its partners in the ordinary
course of business); (ii) to the Company’s knowledge, there is no infringement, misappropriation, breach, default or other violation, or the occurrence of any event that with notice or the passage of time would constitute any of the foregoing,
by 

  
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any third party of any of the Intellectual Property Rights of the Company or any of its subsidiaries; (iii) there is no pending or, to the Company’s knowledge, threatened action, suit,
proceeding or claim by any third party challenging the Company’s or any of its subsidiaries’ rights in or to, or the violation of any of the terms of, any of their Intellectual Property Rights and the Company is unaware of any facts which
would form a reasonable basis for any such claim; (iv) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by any third party challenging the validity, enforceability or scope of any Intellectual
Property Rights of the Company or any of its subsidiaries and the Company is unaware of any facts which would form a reasonable basis for any such claim; (v) there is no pending or, to the Company’s knowledge, threatened action, suit,
proceeding or claim by any third party that the Company or any of its subsidiaries infringes, misappropriates or otherwise violates or conflicts with any Intellectual Property Rights or other proprietary rights of any third party and the Company is
unaware of any other fact which would form a reasonable basis for any such claim; and (vi) none of the Intellectual Property Rights used or held for use by the Company or any of its subsidiaries in their businesses has been obtained or is being used
or held for use by the Company or any of its subsidiaries in violation of any contractual obligation binding on the Company or any of its subsidiaries or in violation of any rights of any third party, except in each case covered by clauses (i) -
(vi) such as would not, if determined adversely to the Company or any of its subsidiaries, individually or in the aggregate, have a Material Adverse Effect. 

(u) Compliance with Environmental Laws. Except as disclosed in the Prospectus, neither the Company nor any of its subsidiaries is in
violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or relating to the protection or
restoration of the environment or human exposure to hazardous or toxic substances (collectively, “environmental laws”), owns or operates any real property contaminated with any substance that is subject to any environmental
laws, is liable for any off-site disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any environmental laws, which violation, contamination, liability or claim would individually or in the aggregate
have a Material Adverse Effect; and the Company is not aware of any pending investigation which would reasonably be expected to lead to such a claim. 

(v) No Price Stabilization or Manipulation. The Company has not taken, directly or indirectly, any action that is designed to or that
has constituted or that would reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares. 

(w) Statistical and Market-Related Data. Any third-party statistical and market-related data included or incorporated by reference in
the Registration Statement or Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. 
 (x)
Internal Controls and Compliance with the Sarbanes-Oxley Act. Except as set forth in the Prospectus, the Company, its subsidiaries and the Company’s Board of Directors (the “Board”) are in compliance with the
Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”) and all applicable rules of The NASDAQ Global Market (“Exchange Rules”). The Company maintains a system of internal controls, including, but not limited
to, disclosure controls and procedures, internal controls over accounting matters and financial reporting, and legal and regulatory compliance controls (collectively, “Internal Controls”) that comply with Sarbanes-Oxley, the
Securities Act, the Exchange Act, the rules and 

  
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regulations of the Commission, the auditing principles, rules, standards and practices applicable to auditors of “issuers” (as defined in Sarbanes-Oxley) promulgated or approved by the
Public Company Accounting Oversight Board (“PCAOB”) and the Exchange Rules (collectively, the “Securities Laws”) and are sufficient to provide reasonable assurances that (i) transactions are executed
in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles
(“GAAP”) and to maintain accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Internal Controls are overseen by the Audit Committee (the “Audit Committee”) of the Board in accordance
with Exchange Rules. The Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board,
material weakness, change in Internal Controls (that has materially affected or is reasonably likely to materially affect the Company’s Internal Controls), or fraud involving management or other employees who have a significant role in Internal
Controls (each, an “Internal Control Event”), any violation of, or failure to comply with, the Securities Laws, or any other matter which, if determined adversely, would have a Material Adverse Effect. 

(y) Absence of Accounting Issues. Except as set forth in the Prospectus, the Audit Committee is not reviewing or investigating, and
neither the Company’s independent auditors nor its internal auditors have recommended that the Audit Committee review or investigate, (i) adding to, deleting, changing the application of, or changing the Company’s disclosure with respect
to, any of the Company’s material accounting policies; (ii) any matter which could result in a restatement of the Company’s financial statements for any annual or interim period during the current or prior three fiscal years; or (iii)
except as disclosed to Cowen, any Internal Control Event. 
 (z) Litigation. Except as disclosed in the Prospectus, there are no
pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its subsidiaries or any of their respective properties that,
if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of the Company to perform its obligations under this
Agreement, or which are otherwise material in the context of the sale of the Placement Shares; and no such actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) are
threatened or, to the Company’s knowledge and except as disclosed to Cowen, contemplated. 
 (aa) Financial Statements. The
financial statements incorporated by reference in the Registration Statement and the Prospectus present fairly in all material respects the financial position of the Company and its consolidated subsidiaries as of the dates shown and their results
of operations and cash flows for the periods shown, and such financial statements have been prepared in conformity with GAAP applied on a consistent basis. 

(bb) No Material Adverse Change in Business. Except as disclosed in the Prospectus, subsequent to the respective dates as of which
information is given in the Prospectus: (i) there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), 

  
 10 

 
results of operations, business, properties or prospects of the Company and its subsidiaries, taken as a whole, that is material and adverse; (ii) except as disclosed in or contemplated by the
Prospectus, there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock; and (iii) except as disclosed in or contemplated by the Prospectus, there has been no material adverse change
in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. 

(cc) Investment Company Act. The Company is not and, after receipt of payment for the Placement Shares and the application of the
proceeds thereof as described in the Prospectus, will not be an “investment company” as defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”). 

(dd) Taxes. The Company and each of its subsidiaries have filed all federal, state, local and foreign tax returns required to be filed
through the date of this Agreement (taking into account applicable extensions) (except where the failure to file would not, individually or in the aggregate, have a Material Adverse Effect) and have paid all taxes required to be paid thereon (except
for cases in which the failure to pay would not have a Material Adverse Effect, or, except as currently being contested in good faith and for which reserves required by GAAP have been created in the financial statements of the Company), and no tax
deficiency has been determined adversely to the Company or any of its subsidiaries which has had (nor does the Company nor any of its subsidiaries have any notice or knowledge of any tax deficiency which could reasonably be expected to be determined
adversely to the Company or its subsidiaries and which could reasonably be expected to have) a Material Adverse Effect. 
 (ee)
Insurance. The Company and its subsidiaries are insured by insurers with appropriately rated claims paying abilities against such losses and risks and in such amounts as the Company has reasonably determined are prudent and customary for the
businesses in which they are engaged; to the Company’s knowledge, all policies of insurance and fidelity or surety bonds insuring the Company or any of its subsidiaries or their respective businesses, assets, employees, officers and directors
are in full force and effect; the Company and its subsidiaries are in compliance with the terms of such policies and instruments in all material respects; and there are no claims by the Company or any of its subsidiaries under any such policy or
instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the Company nor any such subsidiary has been refused any insurance coverage sought or applied for; and neither the Company
nor any such subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at
a cost that would not have a Material Adverse Effect, except as set forth in or contemplated in the Prospectus. 
 (ff) Independent
Accountants. PricewaterhouseCoopers LLP, who have expressed their opinion with respect to the financial statements (which term as used in this Agreement includes the related notes thereto) and supporting schedules filed with the Commission and
incorporated by reference as a part of the Registration Statement and the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Exchange Act. 

  
 11 

 (gg) Anti-Corruption. Neither the Company nor any of its subsidiaries or affiliates, nor,
to the Company’s knowledge, any director, officer, or employee, any agent or representative of the Company or of any of its subsidiaries or affiliates, has taken or will take any action in furtherance of an offer, payment, promise to pay, or
authorization or approval of the payment or giving of money, property, gifts or anything else of value, directly or indirectly, to any “government official” (including any officer or employee of a government or government-owned or
controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to influence official
action or secure an improper advantage; and the Company and its subsidiaries and affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintain and will continue to maintain policies
and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained herein. 
 (hh)
Anti-Money Laundering. The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act,
as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the
Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Anti-Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is
pending or, to the best knowledge of the Company, threatened. 
 (ii) Economic Sanctions. (i) Neither the Company nor any of its
subsidiaries, nor any director, officer, or employee thereof, nor, to the Company’s knowledge, any agent, affiliate or representative of the Company or any of its subsidiaries, is an individual or entity (“Person”) that is, or
is owned or controlled by a Person that is: 
 (A) the subject of any sanctions administered or enforced by the U.S. Department of
Treasury’s Office of Foreign Assets Control, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), nor 

(B) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Cuba, Iran,
North Korea, Sudan and Syria). 
 (ii) The Company will not, directly or indirectly, use the proceeds of the offering, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: 
 (A) to fund or facilitate any
activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation, is the subject of Sanctions; or 

(B) in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering,
whether as underwriter, agent, advisor, investor or otherwise). 

  
 12 

 (iii) For the past 5 years, the Company and its subsidiaries have not knowingly engaged in, are
not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. 

(jj) eXtensible Business Reporting Language. The interactive data in eXtensible Business Reporting Language included or incorporated by
reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

(kk) Regulatory Matters. The Company and its subsidiaries have operated their respective businesses and are currently in compliance
with all applicable rules, regulations and policies of the FDA, except where the failure to so operate or be in compliance would not reasonably be expected to have a Material Adverse Effect. Any clinical trials and human studies conducted by the
Company and, to the knowledge of the Company, any clinical trials and human studies conducted on behalf of the Company or in which the Company has participated were and, if still pending, are being conducted in accordance with standard medical and
scientific research procedures and any applicable rules, regulations and policies of the jurisdiction in which such trials and studies are being conducted, except where the failure to be so conducted would not reasonably be expected to have a
Material Adverse Effect. 
 (ll) Compliance with Laws. The Company has not been advised, and has no reason to believe, that it and
each of its subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business, except where failure to be so in compliance would not result in a Material
Adverse Effect. 
 (mm) No Reliance. The Company has not relied upon Cowen or legal counsel for Cowen for any legal, tax or
accounting advice in connection with the offering and sale of the Placement Shares. 
 (nn) Cowen Purchases. The Company acknowledges
and agrees that Cowen has informed the Company that Cowen may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account while this Agreement is in effect, provided,
that the Company shall not be deemed to have authorized or consented to any such purchases or sales by Cowen. 
 Any certificate signed by an officer of
the Company and delivered to Cowen or to counsel for Cowen in connection with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to Cowen as to the matters set forth therein. 

The Company acknowledges that Cowen and, for purposes of the opinions to be delivered pursuant to Section 7 hereof, counsel to the Company and counsel
to Cowen, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance. 

  
 13 

 7. Covenants of the Company. The Company covenants and agrees with Cowen that: 

(a) Registration Statement Amendments. After the date of this Agreement and during any period in which a Prospectus relating to any
Placement Shares is required to be delivered by Cowen under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify Cowen promptly of the time
when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any
request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare and file with the Commission, promptly upon Cowen’s reasonable request, any
amendments or supplements to the Registration Statement or Prospectus that, in Cowen’s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by Cowen (provided, however, that the
failure of Cowen to make such request shall not relieve the Company of any obligation or liability hereunder, or affect Cowen’s right to rely on the representations and warranties made by the Company in this Agreement) and provided, further,
that the only remedy Cowen shall have with respect to the failure to make such filing (other than Cowen’s rights under Section 9 hereof) will be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the
Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to Cowen within a reasonable
period of time before the filing and Cowen has not reasonably objected thereto (provided, however, that the failure of Cowen to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect Cowen’s
right to rely on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy Cowen shall have with respect to the failure to make such filing (other than Cowen’s rights under Section 9
hereof) will be to cease making sales under this Agreement) and the Company will furnish to Cowen at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or
Prospectus, except for those documents available via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the
applicable paragraph of Rule 424(b) of the Securities Act. 
 (b) Notice of Commission Stop Orders. The Company will advise Cowen,
promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of the
Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such a stop order should be issued. 
 (c) Delivery of Prospectus; Subsequent Changes. During any period in
which a Prospectus relating to the Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to
Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates
all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during such period any

  
 14 

 
event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will
promptly notify Cowen to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or
omission or effect such compliance. 
 (d) Listing of Placement Shares. During any period in which the Prospectus relating to the
Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act),
the Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on Nasdaq and to qualify the Placement Shares for sale under the securities laws of such jurisdictions as Cowen reasonably designates and to continue
such qualifications in effect so long as required for the distribution of the Placement Shares; provided, however, that the Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or
file a general consent to service of process in any jurisdiction. 
 (e) Delivery of Registration Statement and Prospectus. The
Company will furnish to Cowen and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration
Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such
period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as Cowen may from time to time reasonably request and, at Cowen’s request, will also furnish copies of the
Prospectus to each exchange or market on which sales of the Placement Shares may be made; provided, however, that the Company shall not be required to furnish any document (other than the Prospectus) to Cowen to the extent such document is
available on EDGAR. 
 (f) Earnings Statement. The Company will make generally available to its security holders as soon as
practicable, but in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions of Section 11(a) and Rule 158 of the Securities Act.

 (g) Expenses. The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated,
in accordance with the provisions of Section 11 hereunder, will pay all expenses incident to the performance of its obligations hereunder, including, but not limited to, expenses relating to (i) the preparation, printing and filing of the
Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement thereto, (ii) the preparation, issuance and delivery of the Placement Shares, (iii) the qualification of the Placement Shares
under securities laws in accordance with the provisions of Section 7(d) of this Agreement, including filing fees (provided, however, that any fees or disbursements of counsel for Cowen in connection therewith shall be paid by Cowen except as
set forth in (vii) and (viii) 

  
 15 

 
below), (iv) the printing and delivery to Cowen of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (v) the fees and expenses incurred in connection with
the listing or qualification of the Placement Shares for trading on Nasdaq, (vi) transfer taxes imposed on the issuance of Placement Shares, (vii) filing fees and expenses, if any, of the Commission and the FINRA Corporate Financing Department
(including, with respect to any required review by FINRA, the reasonable fees and expenses of Cowen’s counsel in an amount not to exceed $10,000) and (viii) the Company shall reimburse Cowen for the fees and disbursements of Cowen’s
counsel in an amount not to exceed $50,000. 
 (h) Use of Proceeds. The Company will use the Net Proceeds as described in the
Prospectus in the section entitled “Use of Proceeds.” 
 (i) Notice of Other Sales. During the pendency of any Placement
Notice given hereunder, and for 5 trading days following the termination of any Placement Notice given hereunder, the Company shall provide Cowen notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells, grants
any option to sell or otherwise disposes of any shares of Common Stock (other than Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to
purchase or acquire Common Stock; provided, that such notice shall not be required in connection with the (i) issuance, grant or sale of Common Stock, options to purchase shares of Common Stock or Common Stock issuable upon the exercise of
options or other equity awards pursuant to any stock option, stock bonus or other stock plan or arrangement described in the Prospectus, (ii) the issuance of securities in connection with an acquisition, merger or sale or purchase of assets; (iii)
the issuance or sale of Common Stock pursuant to any dividend reinvestment plan that the Company may adopt from time to time provided the implementation of such is disclosed to Cowen in advance; (iv) any shares of common stock issuable upon the
exchange, conversion or redemption of securities or the exercise of warrants, options or other rights in effect or outstanding; or (v) any shares of common stock, or securities convertible into or exercisable for common stock, offered and sold in a
privately negotiated transaction to vendors, customers, investors, strategic partners or potential strategic partners and otherwise conducted in a manner so as not to be integrated with the offering of common stock hereby. Notwithstanding the
foregoing provisions, nothing herein shall be construed to restrict the Company’s ability to file a registration statement under the Securities Act. 

(j) Change of Circumstances. The Company will, at any time during the pendency of a Placement Notice or sell Placement Shares, advise
Cowen promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document provided to Cowen pursuant to this
Agreement. 
 (k) Due Diligence Cooperation. The Company will cooperate with any reasonable due diligence review conducted by Cowen
or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during regular business hours and at the Company’s
principal offices, as Cowen may reasonably request. 
 (l) Required Filings Relating to Placement of Placement Shares. The Company
agrees that on such dates as the Securities Act shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every

  
 16 

 
filing under Rule 424(b), a “Filing Date”), which prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through Cowen, the
Net Proceeds to the Company and the compensation payable by the Company to Cowen with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were
effected as may be required by the rules or regulations of such exchange or market. 
 (m) Representation Dates; Certificate. On or
prior to the First Delivery Date and each time during the term of this Agreement the Company (i) files the Prospectus relating to the Placement Shares or amends or supplements the Registration Statement or the Prospectus relating to the Placement
Shares (other than a prospectus supplement filed in accordance with Section 7(l) of this Agreement) by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to the
Registration Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on Form 10-K under the Exchange Act following the execution of this Agreement; (iii) files its quarterly reports on Form 10-Q under the Exchange
Act; or (iv) files a report on Form 8-K containing amended financial information (other than an earnings release or other information “furnished”) under the Exchange Act (each date of filing of one or more of the documents referred to in
clauses (i) through (iv) shall be a “Representation Date”); the Company shall furnish Cowen (but in the case of clause (iv) above only if (1) a Placement Notice is pending, (2) Cowen reasonably determines that
the information contained in such Form 8-K is material to a holder of Common Stock and (3) Cowen requests such certificate within three (3) days after the filing of such Form 8-K with the Commission) with a certificate, in the form attached hereto
as Exhibit 7(m) within three (3) Trading Days of any Representation Date if requested by Cowen. The requirement to provide a certificate under this Section 7(m) shall be automatically waived for any Representation Date occurring at a
time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the
next occurring Representation Date; provided, however, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form 10-K. Notwithstanding the foregoing, if the Company subsequently
decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not provide Cowen with a certificate under this Section 7(m), then before the Company delivers the Placement Notice or Cowen sells
any Placement Shares, the Company shall provide Cowen with a certificate, in the form attached hereto as Exhibit 7(m), dated the date of the Placement Notice. 

(n) Legal Opinion. On or prior to the First Delivery Date and within three (3) Trading Days of each Representation Date with respect to
which the Company is obligated to deliver a certificate in the form attached hereto as Exhibit 7(m) for which no waiver is applicable, the Company shall cause to be furnished to Cowen a written opinion or statement of Cooley LLP
(“Company Counsel”), or other counsel reasonably satisfactory to Cowen, dated the date that the opinion is required to be delivered, substantially similar to the form attached hereto as Exhibit 7(n)(i) and Exhibit
7(n)(ii), respectively, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; provided, however, the Company shall not be required to furnish any such opinion or statement if
the Company does not intend to deliver a Placement Notice in such calendar quarter until such time as the Company delivers its next Placement Notice; provided, further, that the Company’s obligation to have Company Counsel furnish a
negative assurance statement is conditioned upon counsel to Cowen furnishing a negative assurance statement dated as of the same such date; provided, however, 

  
 17 

 
that in lieu of such opinions for subsequent Representation Dates, counsel may furnish Cowen with a letter (a “Reliance Letter”) to the effect that Cowen may rely on a
prior opinion delivered under this Section 7(n) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended
or supplemented at such Representation Date). 
 (o) Comfort Letter. On or prior to the First Delivery Date and within three (3)
Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as Exhibit 7(m) for which no waiver is applicable, the Company shall cause its independent
accountants to furnish Cowen a letter (the “Comfort Letter”), dated the date that the Comfort Letter is delivered, in form and substance satisfactory to Cowen, (i) confirming that they are an independent
registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by
accountants’ “comfort letters” to Cowen in connection with registered public offerings (the first such letter, the “Initial Comfort Letter”) and (iii) updating the Initial Comfort Letter with any
information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. 

(p) Market Activities. The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Common Stock or (ii) sell, bid for, or purchase the Common Stock in
violation of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than Cowen; provided, however, that the Company may bid for and purchase shares of its common stock in accordance with Rule 10b-18 under
the Exchange Act. 
 (q) Insurance. The Company and its subsidiaries shall maintain, or caused to be maintained, insurance in such
amounts and covering such risks as is reasonable and customary for the business for which it is engaged. 
 (r) Compliance with Laws.
The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in
the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws,
except where the failure to maintain or be in compliance with such permits, licenses and authorizations could not reasonably be expected to result in a Material Adverse Effect. 

(s) Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its
subsidiaries will be or become, at any time prior to the termination of this Agreement, an “investment company,” as such term is defined in the Investment Company Act, assuming no change in the Commission’s current interpretation as
to entities that are not considered an investment company. 

  
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 (t) Securities Act and Exchange Act. The Company will use its best efforts to comply with
all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Shares as contemplated by the provisions hereof and
the Prospectus. 
 (u) No Offer to Sell. Other than the Prospectus or a free writing prospectus (as defined in Rule 405 under the
Securities Act) approved in advance by the Company and Cowen in its capacity as principal or agent hereunder, neither Cowen nor the Company (including its agents and representatives, other than Cowen in its capacity as such) will make, use, prepare,
authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Common Stock hereunder. 

(v) Sarbanes-Oxley Act. The Company and its subsidiaries will use their best efforts to comply with all effective applicable provisions
of the Sarbanes-Oxley Act. 
 8. Conditions to Cowen’s Obligations. The obligations of Cowen hereunder with respect to a
Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Cowen of a due diligence
review satisfactory to Cowen in its reasonable judgment, and to the continuing satisfaction (or waiver by Cowen in its sole discretion) of the following additional conditions: 

(a) Registration Statement Effective. The Registration Statement shall have become effective and shall be available for the sale of all
Placement Shares contemplated to be issued by any Placement Notice. 
 (b) No Material Notices. None of the following events shall
have occurred and be continuing: (i) receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the
Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state governmental authority of any
stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the occurrence of any event that makes any material statement made in the Registration Statement or
the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or such documents so that,
in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that
in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading. 

  
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 (c) No Misstatement or Material Omission. Cowen shall not have advised the Company that
the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Cowen’s reasonable opinion is material, or omits to state a fact that in Cowen’s opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. 
 (d) Material Changes. Except as
contemplated in the Prospectus, or disclosed in the Company’s reports filed with the Commission, there shall not have been any material adverse change, on a consolidated basis, in the authorized capital stock of the Company or any Material
Adverse Effect or any development that could reasonably be expected to result in a Material Adverse Effect. 
 (e) Company Counsel Legal
Opinion. Cowen shall have received the opinions of Company Counsel required to be delivered pursuant Section 7(n) on or before the date on which such delivery of such opinion is required pursuant to Section 7(n). 

(f) Cowen Counsel Legal Opinion. Cowen shall have received from Davis Polk & Wardwell LLP, counsel for Cowen, such opinion or
opinions, on or before the date on which the delivery of the Company Counsel legal opinion is required pursuant to Section 7(n), with respect to such matters as Cowen may reasonably require, and the Company shall have furnished to such
counsel such documents as they request for enabling them to pass upon such matters. 
 (g) Comfort Letter. Cowen shall have received
the Comfort Letter required to be delivered pursuant Section 7(o) on or before the date on which such delivery of such Comfort Letter is required pursuant to Section 7(o). 

(h) Representation Certificate. Cowen shall have received the certificate required to be delivered pursuant to Section 7(m) on
or before the date on which delivery of such certificate is required pursuant to Section 7(m). 
 (i) Secretary’s
Certificate. On or prior to the First Delivery Date, Cowen shall have received a certificate, signed on behalf of the Company by its corporate Secretary, in form and substance satisfactory to Cowen and its counsel. 

(j) No Suspension. Trading in the Common Stock shall not have been suspended on Nasdaq. 

(k) Other Materials. On each date on which the Company is required to deliver a certificate pursuant to Section 7(m), the
Company shall have furnished to Cowen such appropriate further information, certificates and documents as Cowen may have reasonably requested. All such opinions, certificates, letters and other documents shall have been in compliance with the
provisions hereof. The Company will furnish Cowen with such conformed copies of such opinions, certificates, letters and other documents as Cowen shall have reasonably requested. 

(l) Securities Act Filings Made. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior
to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. 

  
 20 

 (m) Approval for Listing. The Placement Shares shall either have been (i) approved for
listing on Nasdaq, subject only to notice of issuance, or (ii) the Company shall have filed an application for listing of the Placement Shares on Nasdaq at, or prior to, the issuance of any Placement Notice. 

(n) No Termination Event. There shall not have occurred any event that would permit Cowen to terminate this Agreement pursuant to
Section 11(a). 
 9. Indemnification and Contribution. 

(a) Company Indemnification. The Company agrees to indemnify and hold harmless Cowen, the directors, officers, partners, employees and
agents of Cowen and each person, if any, who (i) controls Cowen within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, or (ii) is controlled by or is under common control with Cowen (a “Cowen
Affiliate”) from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable investigative, legal and other expenses incurred in connection with, and any and all
amounts paid in settlement (in accordance with Section 9(c)) of, any action, suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any
claim asserted), as and when incurred, to which Cowen, or any such person, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses,
claims, liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or
supplement to the Registration Statement or the Prospectus or in any free writing prospectus or in any application or other document executed by or on behalf of the Company or based on written information furnished by or on behalf of the Company
filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof or filed with the Commission, or (y) the omission or alleged omission to state in any such document a material fact required to be stated in it or
necessary to make the statements in it not misleading; provided, however, that this indemnity agreement shall not apply to the extent that such loss, claim, liability, expense or damage arises from the sale of the Placement Shares
pursuant to this Agreement and is caused directly or indirectly by an untrue statement or omission made in reliance upon and in conformity with written information relating to Cowen and furnished to the Company by Cowen expressly for inclusion in
any document as described in clause (x) of this Section 9(a). This indemnity agreement will be in addition to any liability that the Company might otherwise have. 

(b) Cowen Indemnification. Cowen agrees to indemnify and hold harmless the Company and its directors and each officer of the Company
that signed the Registration Statement, and each person, if any, who (i) controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the
Company (a “Company Affiliate”) against any and all loss, liability, claim, damage and expense described in the indemnity contained in Section 9(a), as incurred, but only with respect to untrue statements or omissions,
or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto) or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with written information relating to Cowen and
furnished to the Company by Cowen expressly for inclusion in any document as described in clause (x) of Section 9(a). 

  
 21 

 (c) Procedure. Any party that proposes to assert the right to be indemnified under this
Section 9 will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this Section 9, notify each such indemnifying
party of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party
otherwise than under this Section 9 and (ii) any liability that it may have to any indemnified party under the foregoing provision of this Section 9 unless, and only to the extent that, such omission results in the forfeiture of
substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the
extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the
defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the
indemnified party for any legal or other expenses except as provided below and except for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right
to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by
the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the
indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct
the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in
each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or
related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All
such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly as they are incurred after the indemnifying party receives a written invoice relating to fees, disbursements and other charges in reasonable detail. An
indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or
consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section 9 (whether or not any indemnified party is a party thereto), unless such settlement, compromise
or consent includes an unconditional release of each indemnified party from all liability arising or that may arise out of such claim, action or proceeding. 

(d) Contribution. In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in
the foregoing paragraphs of this Section 9 is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or Cowen, the Company and Cowen will contribute to the total losses, claims, liabilities,
expenses and damages 

  
 22 

 
(including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, but
after deducting any contribution received by the Company from persons other than Cowen, such as persons who control the Company within the meaning of the Securities Act, officers of the Company who signed the Registration Statement and directors of
the Company, who also may be liable for contribution) to which the Company and Cowen may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and Cowen on the other. The
relative benefits received by the Company on the one hand and Cowen on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company
bear to the total compensation received by Cowen from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall
be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and Cowen, on the other, with respect to the statements or
omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or Cowen, the intent of the parties and their relative
knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and Cowen agree that it would not be just and equitable if contributions pursuant to this Section 9(d) were to be determined by pro
rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage,
or action in respect thereof, referred to above in this Section 9(d) shall be deemed to include, for the purpose of this Section 9(d), any legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim to the extent consistent with Section 9(c) hereof. Notwithstanding the foregoing provisions of this Section 9(d), Cowen shall not be required to contribute any amount in excess of the
commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 9(d), any person who controls a party to this Agreement within the meaning of the Securities Act, and any officers, directors, partners, employees or agents of Cowen, will have the
same rights to contribution as that party, and each officer of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to
contribution, promptly after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under this Section 9(d), will notify any such party or parties from whom contribution may
be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this Section 9(d) except to the extent that the failure to so notify such
other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section 9(c) hereof, no party will be liable for
contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to Section 9(c) hereof. 

  
 23 

 10. Representations and Agreements to Survive Delivery. The indemnity and contribution
agreements contained in Section 9 of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation
made by or on behalf of Cowen, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of
this Agreement. 
 11. Termination. 

(a) Cowen shall have the right by giving notice as hereinafter specified at any time to terminate this Agreement if (i) any Material Adverse
Effect, or any development that could reasonably be expected to result in a Material Adverse Effect, has occurred that, in the reasonable judgment of Cowen, may materially impair the ability of Cowen to sell the Placement Shares hereunder, (ii) the
Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; provided, however, in the case of any failure of the Company to deliver (or cause another person to deliver) any certification,
opinion, or letter required under Sections 7(m), 7(n), or 7(o), Cowen’s right to terminate shall not arise unless such failure to deliver (or cause to be delivered) continues for more than thirty (30) days from the
date such delivery was required; or (iii) any other condition of Cowen’s obligations hereunder is not fulfilled, or (iv), any suspension or limitation of trading in the Placement Shares or in securities generally on Nasdaq shall have occurred.
Any such termination shall be without liability of any party to any other party except that the provisions of Section 7(g) (Expenses), Section 9 (Indemnification and Contribution), Section 10 (Representations and Agreements to
Survive Delivery), Section 16 (Applicable Law; Consent to Jurisdiction) and Section 17 (Waiver of Jury Trial) hereof shall remain in full force and effect notwithstanding such termination. If Cowen elects to terminate this Agreement as
provided in this Section 11(a), Cowen shall provide the required notice as specified in Section 12 (Notices). 
 (b) The
Company shall have the right, by giving ten (10) days’ notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of Section 7(g), Section 9, Section 10, Section 16 and Section 17 hereof shall remain in full force and effect notwithstanding such termination. 

(c) Cowen shall have the right, by giving ten (10) days’ notice as hereinafter specified to terminate this Agreement in its sole
discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the provisions of Section 7(g), Section 9, Section 10, Section 16 and
Section 17 hereof shall remain in full force and effect notwithstanding such termination. 
 (d) Unless earlier terminated pursuant
to this Section 11, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Shares through Cowen on the terms and subject to the conditions set forth herein; provided that the provisions of
Section 7(g), Section 9, Section 10, Section 16 and Section 17 hereof shall remain in full force and effect notwithstanding such termination. 

  
 24 

 (e) This Agreement shall remain in full force and effect unless terminated pursuant to
Sections 11(a), (b), (c), or (d) above or otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to provide that Section 7(g),
Section 9, Section 10, Section 16 and Section 17 shall remain in full force and effect. Upon termination of this Agreement, the Company shall not have any liability to Cowen for any discount, commission or other
compensation with respect to any Placement Shares not otherwise sold by Cowen under this Agreement, except with respect to reimbursement of expenses pursuant to Section 7(g). 

(f) Any termination of this Agreement shall be effective on the date specified in such notice of termination; provided, however, that
such termination shall not be effective until the close of business on the date of receipt of such notice by Cowen or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares,
such Placement Shares shall settle in accordance with the provisions of this Agreement. 
 12. Notices. All notices or other
communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified in this Agreement, and if sent to Cowen, shall be delivered to Cowen at Cowen
and Company, LLC, 599 Lexington Avenue, New York, NY 10022, fax no. 646-562-1124, Attention: General Counsel; or if sent to the Company, shall be delivered to Revance Therapeutics, Inc., 7555 Gateway Boulevard, Newark, California 94560 fax no. (510)
742-3401, attention: Lauren Silvernail, with a copy to Cooley LLP, fax no. (650) 849-7400, attention: Gordon K. Ho. Each party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new
address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day
(as defined below), or, if such day is not a Business Day on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business Day actually received if
deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, “Business Day” shall mean any day on which the NYSE and commercial banks in the City of New
York are open for business. 
 13. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
Company and Cowen and their respective successors and the affiliates, controlling persons, officers and directors referred to in Section 9 hereof. References to any of the parties contained in this Agreement shall be deemed to include the
successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations
or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; provided,
however, that Cowen may assign its rights and obligations hereunder to an affiliate of Cowen without obtaining the Company’s consent. 

14. Adjustments for Share Splits. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be
adjusted to take into account any share split, share dividend or similar event effected with respect to the Common Stock. 

  
 25 

 15. Entire Agreement; Amendment; Severability. This Agreement (including all schedules and
exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to
the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and Cowen. In the event that any one or more of the provisions contained herein, or the application
thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable,
and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the
terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. 
 16. Applicable Law;
Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the
non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit,
action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt
requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve process in any manner permitted by law. 
 17. Waiver of Jury Trial. The Company and Cowen each hereby
irrevocably waives any right it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby. 

18. Absence of Fiduciary Relationship. The Company acknowledges and agrees that: 

(a) Cowen has been retained solely to act as sales agent in connection with the sale of the Common Stock and that no fiduciary, advisory or
agency relationship between the Company and Cowen has been created in respect of any of the transactions contemplated by this Agreement, irrespective of whether Cowen has advised or is advising the Company on other matters; 

(b) the Company is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions
contemplated by this Agreement; 
 (c) the Company has been advised that Cowen and its affiliates are engaged in a broad range of
transactions which may involve interests that differ from those of the Company and that Cowen has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and 

  
 26 

 (d) the Company waives, to the fullest extent permitted by law, any claims it may have against
Cowen, for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that Cowen shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary claim or to any person asserting a fiduciary duty claim
on behalf of or in right of the Company, including stockholders, partners, employees or creditors of the Company. 
 19.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the
other may be made by facsimile transmission. 
 20. Definitions. As used in this Agreement, the following term has the meaning set
forth below: 
 (a) “Applicable Time” means the date of this Agreement, each Representation Date, the date on which a
Placement Notice is given, and any date on which Placement Shares are sold hereunder. 
 [Remainder of Page Intentionally Blank] 

  
 27 

 If the foregoing correctly sets forth the understanding between the Company and Cowen, please so
indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and Cowen. 
  

			
	Very truly yours,
	
	COWEN AND COMPANY, LLC
		
	By:	 	 /s/ James Burnes

	Name:	 	James Burnes
	Title:	 	Managing Director
	
	ACCEPTED as of the date
	first-above written:
	
	REVANCE THERAPEUTICS, INC.
		
	By:	 	 /s/ L. Daniel Browne

	Name:	 	L. Daniel Browne
	Title:	 	President and Chief Executive Officer

  
 28 

 SCHEDULE 1 

FORM OF PLACEMENT NOTICE 
  

					
	From:	  	[    ]	  	
			
	Cc:	  	[    ]	  	
			
	To:	  	[    ]	  	

 Subject: Cowen at the Market Offering—Placement Notice 

Gentlemen: 
 Pursuant to the terms and subject to the conditions
contained in the Sales Agreement between Revance Therapeutics, Inc. (the “Company”), and Cowen and Company, LLC (“Cowen”) dated March 7, 2016 (the “Agreement”), I hereby request on behalf of the
Company that Cowen sell up to [ ] shares of the Company’s common stock, par value $0.001 per share, at a minimum market price of $             per share. Sales should begin on the date
of this Notice and shall continue until [DATE] [all shares are sold]. 

 SCHEDULE 2 

Such individuals as the Board of Directors of the Company may authorize, following authorization of such Placement Notice by the Board of Directors or a duly
authorized committee thereof. 

 SCHEDULE 3 

Compensation 
 Cowen shall be paid
compensation equal to 3% of the gross proceeds from the sales of Common Stock pursuant to the terms of this Agreement. 

 SCHEDULE 4 

Schedule Of Subsidiaries 
  

			
	 Name
	  	 Jurisdiction of Organization

	 Revance Therapeutics LTD
	  	England and Wales

 Exhibit 7(n)(i) 

Matters to be covered by initial Opinion of Cooley LLP 

[Circulated Separately] 

 Exhibit 7(n)(ii) 

Matters to be covered by initial Negative Assurance Statement of Cooley LLP 

[Circulated Separately] 

 Exhibit 7(m) 

OFFICER CERTIFICATE 
 The
undersigned, the duly qualified and elected
                                        , of
Revance Therapeutics, Inc. (“Company”), a Delaware corporation, does hereby certify in such capacity and on behalf of the Company, pursuant to Section 7(m) of the Sales Agreement dated March 7, 2016 (the
“Sales Agreement”) between the Company and Cowen and Company, LLC, that to the best of the knowledge of the undersigned: 

(i) The representations and warranties of the Company in Section 6 of the Sales Agreement (A) to the extent such representations and
warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if expressly made on and as of the date
hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent such representations and warranties are not subject to any qualifications or
exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for those representations and warranties
that speak solely as of a specific date and which were true and correct as of such date; and 
 (ii) The Company has complied with all
agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof. 
  

			
	 By:
	 	
	 Name:
	 	
	 Title:
	 	
		
	 Date:EX-4.16

 Exhibit 4.16 

LENNAR CORPORATION, 
 as
Issuer, 
 THE GUARANTORS NAMED HEREIN 

and 
 THE BANK OF NEW
YORK MELLON, 
 as Trustee 

TWELFTH SUPPLEMENTAL INDENTURE 

DATED AS OF MARCH 4, 2016 

to 
 INDENTURE 

DATED AS OF DECEMBER 31, 1997 

relating to 
 4.750%
Senior Notes Due 2021 

 TABLE OF CONTENTS 

 

							
		  		  	 	Page	  
	 ARTICLE ONE    DEFINITIONS
	  	 	2	  
		  	SECTION 1.01. Definitions	  	 	2	  
		  	SECTION 1.02. Additional Rules of Construction	  	 	8	  
		
	 ARTICLE TWO    THE NOTES
	  	 	9	  
		  	SECTION 2.01. Creation of Series	  	 	9	  
		  	SECTION 2.02. Optional Redemption by the Company	  	 	10	  
		  	SECTION 2.03. Defaulted Interest	  	 	11	  
		  	SECTION 2.04. CUSIP Number	  	 	12	  
		  	SECTION 2.05. Deposit of Monies	  	 	12	  
		  	SECTION 2.06. Transfer and Exchange	  	 	12	  
		  	SECTION 2.07. Book-Entry Provisions for Global Notes	  	 	13	  
		  	SECTION 2.08. Denominations	  	 	15	  
		
	 ARTICLE THREE    SUCCESSOR CORPORATION
	  	 	15	  
		  	SECTION 3.01. Company May Consolidate, etc., Only on Certain Terms	  	 	15	  
		  	SECTION 3.02. Successor Corporation Substituted	  	 	16	  
		
	 ARTICLE FOUR    ADDITIONAL COVENANTS
	  	 	16	  
		  	SECTION 4.01. Payment of Notes	  	 	16	  
		  	SECTION 4.02. Reporting	  	 	16	  
		  	SECTION 4.03. Corporate Existence	  	 	16	  
		  	SECTION 4.04. Compliance Certificate	  	 	16	  
		  	SECTION 4.05. Further Instruments and Acts	  	 	17	  
		  	SECTION 4.06. Limitations on Liens	  	 	17	  
		  	SECTION 4.07. Sale-Leaseback Transactions	  	 	19	  
		  	SECTION 4.08. Furnishing Guarantees	  	 	20	  
		  	SECTION 4.09. Change of Control	  	 	20	  
		
	 ARTICLE FIVE    DEFAULTS AND REMEDIES
	  	 	23	  
		  	SECTION 5.01. Events of Default	  	 	23	  
		  	SECTION 5.02. Acceleration of Maturity; Rescission and Annulment	  	 	24	  
		  	SECTION 5.03. Waiver of Existing Defaults	  	 	25	  
		  	SECTION 5.04. Limitation on Suits	  	 	26	  
		
	 ARTICLE SIX    DISCHARGE OF SUPPLEMENTAL INDENTURE
	  	 	26	  
		  	SECTION 6.01. Discharge of Supplemental Indenture	  	 	26	  
		  	SECTION 6.02. Application of Trust Money	  	 	27	  
		  	SECTION 6.03. Repayment to the Company	  	 	27	  
		  	SECTION 6.04. Reinstatement	  	 	27	  
		  	SECTION 6.05. Officers’ Certificate; Opinion of Counsel	  	 	27	  
		
	 ARTICLE SEVEN    SUPPLEMENTAL INDENTURES
	  	 	28	  
		  	SECTION 7.01. Without Consent of Holders	  	 	28	  

  
 - i - 

							
		  	SECTION 7.02. With Consent of Holders	  	 	28	  
		
	 ARTICLE EIGHT    GUARANTEE OF NOTES
	  	 	29	  
		  	SECTION 8.01. Unconditional Guarantee	  	 	29	  
		  	SECTION 8.02. Limitations on Guarantees; Release or Suspension of Particular Guarantors’ Obligations	  	 	30	  
		  	SECTION 8.03. Execution and Delivery of Guarantee	  	 	31	  
		  	SECTION 8.04. Release of a Guarantor due to Extraordinary Events	  	 	31	  
		  	SECTION 8.05. Waiver of Subrogation	  	 	31	  
		  	SECTION 8.06. No Set-Off	  	 	32	  
		  	SECTION 8.07. Obligations Absolute	  	 	32	  
		  	SECTION 8.08. Obligations Continuing	  	 	32	  
		  	SECTION 8.09. Obligations Not Reduced	  	 	32	  
		  	SECTION 8.10. Obligations Reinstated	  	 	33	  
		  	SECTION 8.11. Obligations Not Affected	  	 	33	  
		  	SECTION 8.12. Waiver	  	 	34	  
		  	SECTION 8.13. No Obligation to Take Action Against the Company	  	 	34	  
		  	SECTION 8.14. Dealing with the Company and Others	  	 	34	  
		  	SECTION 8.15. Default and Enforcement	  	 	35	  
		  	SECTION 8.16. Amendment, etc	  	 	35	  
		  	SECTION 8.17. Acknowledgment	  	 	35	  
		  	SECTION 8.18. Costs and Expenses	  	 	35	  
		  	SECTION 8.19. No Merger or Waiver; Cumulative Remedies	  	 	35	  
		  	SECTION 8.20. Survival of Obligations	  	 	35	  
		  	SECTION 8.21. Guarantee in Addition to Other Obligations	  	 	36	  
		  	SECTION 8.22. Severability	  	 	36	  
		  	SECTION 8.23. Successors and Assigns	  	 	36	  
		  	SECTION 8.24. Acknowledgement under TIA	  	 	36	  
		
	 ARTICLE NINE    MISCELLANEOUS
	  	 	36	  
		  	SECTION 9.01. TIA Controls	  	 	36	  
		  	SECTION 9.02. Conflict with Indenture	  	 	36	  
		  	SECTION 9.03. Notices	  	 	36	  
		  	SECTION 9.04. Electronic Instructions/Directions	  	 	37	  
		  	SECTION 9.05. Governing Law	  	 	38	  
		  	SECTION 9.06. WAIVER OF JURY TRIAL	  	 	38	  
		  	SECTION 9.07. Successors	  	 	38	  
		  	SECTION 9.08. Counterparts	  	 	38	  
		  	SECTION 9.09. Business Days	  	 	38	  
		  	SECTION 9.10. No Personal Liability	  	 	38	  
		  	SECTION 9.11. Concerning the Trustee	  	 	38	  
		  	SECTION 9.12. Severability	  	 	39	  
		  	SECTION 9.13. FATCA	  	 	40	  

  
 - ii - 

							
	 EXHIBITS AND SCHEDULES
	  			
			
	 EXHIBIT A
	  	FORM OF NOTE	  	 	A-1	  
	 EXHIBIT B
	  	FORM OF GUARANTEE	  	 	B-1	  
	 SCHEDULE I
	  	GUARANTORS	  	 	I-1	  

  
 - iii - 

 TWELFTH SUPPLEMENTAL INDENTURE, dated as of March 4, 2016 (the “Supplemental
Indenture”), to Indenture, dated as of December 31, 1997, among Lennar Corporation (the “Company”), a Delaware corporation having its principal office at 700 N.W. 107th Avenue, Miami, Florida 33172, each of the
Guarantors named herein, and The Bank of New York Mellon, a New York banking corporation which has its principal corporate trust office at 101 Barclay Street, New York, NY 10286, as successor Trustee (the “Trustee”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company has heretofore executed and delivered to The First National Bank of Chicago, N.A., as trustee, an Indenture, dated as of
December 31, 1997 (the “Indenture”), providing for the issuance from time to time of its notes and other evidences of unsecured indebtedness, to be issued in one or more series as therein provided
(“Securities”); 
 WHEREAS, Bank One Trust Company, N.A. succeeded to the rights and obligations of The First National Bank
of Chicago, N.A. under the Indenture; 
 WHEREAS, J.P. Morgan Trust Company, N.A. succeeded to the rights and obligations of Bank One Trust
Company, N.A. under the Indenture; 
 WHEREAS, The Bank of New York Mellon Trust Company, N.A. succeeded to the rights and obligations of
J.P. Morgan Trust Company, N.A. under the Indenture; 
 WHEREAS, The Bank of New York Mellon succeeded to the rights and obligations of The
Bank of New York Mellon Trust Company, N.A. under the Indenture and, as a result of such succession, The Bank of New York Mellon is currently acting as the Trustee under the Indenture and this Supplemental Indenture; 

WHEREAS, Section 2.02 of the Indenture provides that the Company and the Trustee, at any time and from time to time, may enter into an
indenture which supplements the Indenture to establish the terms of Securities of any series; 
 WHEREAS, the Company has duly authorized
the creation of an issue of Securities to be known as the 4.750% Senior Notes due 2021 (the “Notes”) and to be guaranteed by the Guarantors, and to provide therefor the Company and the Guarantors have duly authorized the execution
and delivery of this Supplemental Indenture; and 
 WHEREAS, all things necessary to make the Notes, when executed by the Company and
authenticated and delivered hereunder, the valid obligations of the Company, and to make this Supplemental Indenture a valid agreement of the Company and the Guarantors, in accordance with their and its terms, have been done. 

NOW, THEREFORE, THIS TWELFTH SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, each party agrees for the benefit of each other
party and for the equal and ratable benefit of the Holders of the Notes, as follows: 

  
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 ARTICLE ONE 

DEFINITIONS 
 SECTION
1.01. Definitions. Capitalized terms used but not defined in this Supplemental Indenture shall have the meanings ascribed to them in the Indenture. In the case of capitalized terms defined in this Supplemental Indenture that
are also defined in the Indenture, the meanings ascribed to such terms in this Supplemental Indenture shall apply with respect to the Notes. 

For purposes of this Supplemental Indenture, the following terms have the meanings ascribed to them as follows: 

“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. 

“Agent” means any Registrar, Paying Agent or co-Registrar. 

“Agent Members” has the meaning provided in Section 2.07(2). 

“Bankruptcy Law” means Title 11 of the United States Code or any similar United States Federal or State law for the relief of
debtors. 
 “Board of Directors” means the Board of Directors of the Company. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday or Friday which is not a Legal Holiday in New York, New York.

 “Capital Stock” means, with respect to any Person, any and all shares, interests, participations or other equivalents
(however designated) of or in such Person’s capital stock or other equity interests, and options, rights or warrants to purchase such capital stock or other equity interests, whether now outstanding or issued after the Issue Date. 

“Change of Control Offer” has the meaning provided in Section 4.09(1). 

“Change of Control Payment” has the meaning provided in Section 4.09(1). 

“Change of Control Payment Date” has the meaning provided in Section 4.09(1). 

“Class A Common Stock” shall mean the Company’s Class A common stock, par value $.10 per share. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Reference Treasury Dealer as
having a maturity comparable to the remaining term of the Notes 

  
 - 2 - 

 
to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of the Notes. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the
average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third Business Day preceding such Redemption Date, as set forth in the daily statistical release (or any
successor release) published by the Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities,” or (ii) if such release (or any successor release) is not published or does not contain
such prices on such Business Day, (A) the average of the Reference Treasury Dealer Quotations for such date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Quotation Agent obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 
 “Consolidated Net Tangible
Assets” means the total amount of assets which would be included on a consolidated balance sheet of the Company and the Restricted Subsidiaries under GAAP (less applicable reserves and other properly deductible items) after deducting
therefrom: 
 (1) all short-term liabilities, i.e., liabilities payable by their terms less than one year from the date of determination and
not renewable or extendable at the option of the obligor for a period ending more than one year after such date, and liabilities in respect of retiree benefits other than pensions for which the Restricted Subsidiaries are required to accrue pursuant
to ASC No. 715; 
 (2) investments in Subsidiaries that are not Restricted Subsidiaries; and 

(3) all assets reflected on the Company’s balance sheet as the carrying value of goodwill, trade names, trademarks, patents, unamortized
debt discount, unamortized expense incurred in the issuance of debt and other intangible assets. 
 “Corporate Trust
Office” means the principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 101 Barclay Street, New York, NY 10286, Attention: Corporate Trust
Administration, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may
designate from time to time by notice to the Holders and the Company). 
 “Custodian” means any receiver, trustee,
assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 “Default Interest Payment Date” has the
meaning provided in Section 2.03. 
 “Depositary” means The Depository Trust Company, its nominees and successors. 

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

  
 - 3 - 

 “Funded Debt” of any Person means all Indebtedness for borrowed money
created, incurred, assumed or guaranteed in any manner by such Person, and all Indebtedness, contingent or otherwise, incurred or assumed by such Person in connection with the acquisition of any business, property or asset, which in each case
matures more than one year after, or which by its terms is renewable or extendible or payable out of the proceeds of similar Indebtedness incurred pursuant to the terms of any revolving credit agreement or any similar agreement at the option of such
Person for a period ending more than one year after the date as of which Funded Debt is being determined; provided, that, Funded Debt shall not include (i) any Indebtedness for the payment, redemption or satisfaction of which money (or
evidences of indebtedness, if permitted under the instrument creating or evidencing such indebtedness) in the necessary amount shall have been irrevocably deposited in trust with a trustee or proper depositary either on or before the maturity or
redemption date thereof or (ii) any Indebtedness of such Person to any of its subsidiaries or of any subsidiary to such Person or any other subsidiary or (iii) any Indebtedness incurred in connection with the financing of operating, construction or
acquisition projects; provided, that, the recourse for such Indebtedness is limited to the assets of such projects. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of
the accounting profession of the United States, as in effect on the Issue Date. 
 “Global Note” has the meaning provided
in Section 2.01(1). 
 “Guarantee” has the meaning provided in Section 8.01. 

“Guarantor” means (a) initially, each of the Guarantors set forth on Schedule I to this Supplemental Indenture, and
(b) each of the Company’s Subsidiaries that in the future executes a Guarantee in substantially the form of Exhibit B hereto in which such Subsidiary agrees to be bound by the terms hereof as Guarantor, in each case, subject to release
or suspension as provided in Article Eight. 
 “Holder” means a Person in whose name a Note is registered on the
Registrar’s books. 
 “Indebtedness” means, with respect to the Company or any Subsidiary, and without
duplication, (a) the principal of and premium, if any, and interest on, and fees, costs, enforcement expenses, collateral protection expenses and other reimbursement or indemnity obligations in respect to all indebtedness or obligations of the
Company or any Subsidiary to any Person, including but not limited to banks and other lending institutions, for money borrowed that is evidenced by a note, bond, debenture, loan agreement, or similar instrument or agreement (including purchase money
obligations with original maturities in excess of one year and noncontingent reimbursement obligations in respect of amounts paid under letters of credit); (b) all reimbursement obligations and other liabilities (contingent or otherwise) of the
Company or any Subsidiary with respect to letters of credit, bank guarantees or bankers’ acceptances, (c) all obligations and liabilities (contingent or otherwise) in respect of leases of the Company or any Subsidiary required, in conformity
with GAAP, to be accounted for as capital lease obligations on the balance sheet of the Company, (d) all obligations of the Company or any Subsidiary 

  
 - 4 - 

 
(contingent or otherwise) with respect to an interest rate or other swap, cap or collar agreement or other similar instrument or agreement or foreign currency hedge, exchange, purchase or similar
instrument or agreement, (e) all direct or indirect guaranties or similar agreements by the Company or any Subsidiary in respect of, and obligations or liabilities (contingent or otherwise) of the Company or such Subsidiary to purchase or otherwise
acquire, or otherwise assure a creditor against loss in respect of, indebtedness, obligations or liabilities of another Person of the kind described in clauses (a) through (d), (f) any indebtedness or other obligations, excluding any operating
leases the Company or any Subsidiary is currently (or may become) a party to, described in clauses (a) through (d) secured by any Lien existing on property which is owned or held by the Company or Subsidiary, regardless of whether the indebtedness
or other obligation secured thereby shall have been assumed by the Company or such Subsidiary and (g) any and all deferrals, renewals, extensions and refinancing of, or amendments, modifications or supplements to, any indebtedness, obligation or
liability of the kind described in clauses (a) through (f). 
 “Indenture” has the meaning provided in the Recitals. 

“Interest Payment Date” means the stated maturity of an installment of interest on the Notes. 

“Issue Date” means March 4, 2016. 

“Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions or trust companies are authorized or
required by law to remain closed. 
 “Lien” means any mortgage, pledge, lien, encumbrance, charge or security
interest of any kind. 
 “Maturity Date” means April 1, 2021. 

“Net Worth” of any Person means the total consolidated stockholders’ equity of the Person determined in accordance with
GAAP. 
 “Non-Recourse Indebtedness” means any Indebtedness of the Company or any Restricted Subsidiary for which the
holder of such Indebtedness has no recourse, directly or indirectly, to the Company or such Restricted Subsidiary for the principal of, premium, if any, and interest on such Indebtedness, and for which the Company or such Restricted Subsidiary is
not, directly or indirectly, obligated or otherwise liable for the principal of, premium, if any, and interest on such Indebtedness, except pursuant to mortgages, deeds of trust or other security interests or other recourse, obligations or
liabilities, in respect of specific land or other real property interests of the Company or such Restricted Subsidiary securing such Indebtedness; provided, that, recourse, obligations or liabilities solely for indemnities, breaches of
warranties or representations contained in such mortgages, deeds of trust or grants of security interests in respect of Indebtedness, will not prevent that Indebtedness from being classified as Non-Recourse Indebtedness. 

“Notes” has the meaning provided in the Recitals. 

  
 - 5 - 

 “Obligations” means all obligations for principal, premium, interest, penalties,
fees, indemnifications, reimbursements, damages and other liabilities payable under the documentation governing the Notes. 

“Officer” means the Chairman of the Board, any Vice Chairman of the Board, the Chief Executive Officer, the President, any
Executive Vice President or Vice President, the Treasurer, the Secretary, the Controller or any Assistant Secretary of a Person. 

“Paying Agent” means the office or agency designated by the Company where Notes may be presented for payment. 

“Permitted Liens” has the meaning provided in Section 4.06. 

“Permitted Sale-Leaseback Transactions” has the meaning provided in Section 4.07. 

“Physical Notes” has the meaning provided in Section 2.01(2). 

“Primary Treasury Dealer” means a primary U.S. Government securities dealer in the United States. 

“Property” of any Person means all types of real, personal, tangible, intangible or mixed property owned by such Person,
whether or not included in the most recent consolidated balance sheet of such Person and its Subsidiaries under GAAP. 
 “Quotation
Agent” means any Reference Treasury Dealer appointed by the Company. 
 “Record Date” means the
Record Date specified in the Notes. 
 “Redemption Date” when used with respect to any Note to be redeemed, means the date
fixed for such redemption by or pursuant to this Supplemental Indenture. 
 “Redemption Price” when used with
respect to any Note to be redeemed, means the price at which it is to be redeemed pursuant to this Supplemental Indenture and the Notes. For the avoidance of doubt, the Redemption Price excludes accrued interest to the Redemption Date. 

“Reference Treasury Dealer” means (a) each of Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Mizuho Securities USA Inc., Goldman, Sachs & Co. and RBC Capital Markets, LLC and one primary U.S. government securities dealer in New York City (a “Primary
Treasury Dealer”) designated by Wells Fargo Securities, LLC (or its affiliate that is a Primary Treasury Dealer); provided, that, if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company will substitute
another Primary Treasury Dealer; and (b) any other Primary Treasury Dealer(s) selected by the Company. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 

 

  
 - 6 - 

 “Remaining Payments” means, with respect to any Note to be redeemed, the
remaining payments of interest and the payment of principal (or the portion of the principal) that would have been due with regard to such Note after the actual Redemption Date if such Note had been redeemed on the day that is 60 days before the
Maturity Date of the Notes; provided, that, if such Redemption Date is not an Interest Payment Date with respect to such Note, the amount of the next succeeding scheduled interest payment with respect to such Note will be reduced by
the amount of interest accrued thereon to such Redemption Date. 
 “Repurchase Price” means, with respect to any Note to be
repurchased, the price at which it is to be repurchased pursuant to Section 4.09 of this Supplemental Indenture. 
 “Restricted
Subsidiary” means (a) all existing wholly-owned Subsidiaries, other than finance company Subsidiaries and any foreign Subsidiaries, and (b) all future wholly-owned Subsidiaries that become Guarantors, in each case, until such time as such
Subsidiary is released in accordance with the terms of this Supplemental Indenture. 
 “Sale-Leaseback Transaction” means a
sale or transfer made by the Company or a Restricted Subsidiary of any property which is either (A) a manufacturing facility, office building or warehouse whose book value equals or exceeds 1% of Consolidated Net Tangible Assets as of the date of
determination, or (B) another property (not including a model home) which exceeds 5% of Consolidated Net Tangible Assets as of the date of determination, if such sale or transfer is made with the agreement, commitment or intention of leasing such
property to the Company or a Restricted Subsidiary. 
 “Securities” has the meaning provided in the Recitals. 

“Significant Subsidiary” means any Subsidiary (a) whose revenues exceed 10% of the Total Consolidated Revenues of the
Company, in each case for the most recent Fiscal Year, or (b) whose Net Worth exceeds 10% of the Company’s Total Consolidated Stockholders’ Equity, in each case as of the end of the most recent Fiscal Year. 

“Subsidiary” means (i) a corporation or other entity of which a majority in voting power of the stock or other
interests is owned by the Company, by a Subsidiary of the Company or by the Company and one or more Subsidiaries of the Company or (ii) a partnership, the sole general partner or partners of which are the Company and/or any Subsidiary and of which
the Company or any Subsidiary owns at least 25% in value of the equity. 
 “Supplemental Indenture” has the meaning
provided in the Preamble. 
 “Total Consolidated Revenues” means, with respect to any date of determination, the
Company’s total consolidated revenues as shown on its most recent consolidated statement of operations that is contained or incorporated in the latest annual report on Form 10-K (or equivalent report) or quarterly report on Form 10-Q (or
equivalent report) filed with the SEC, and is as of a date not more than 181 days prior to the date of determination, in the case of the consolidated statement of operations contained or incorporated in an annual report on Form 10- K, or 135 days
prior to the date of determination, in the case of the consolidated condensed statement of operations contained in a quarterly report on Form 10-Q. 
  

  
 - 7 - 

 “Total Consolidated Stockholders’ Equity” means, with respect to any date
of determination, the Company’s total consolidated stockholders’ equity as shown on its most recent consolidated balance sheet that is contained or incorporated in the latest annual report on Form 10-K (or equivalent report) or quarterly
report on Form 10-Q (or equivalent report) filed with the SEC, and is as of a date not more than 181 days prior to the date of determination, in the case of the consolidated balance sheet contained or incorporated in an annual report on Form 10-K,
or 135 days prior to the date of determination, in the case of the consolidated condensed balance sheet contained in a quarterly report on Form 10-Q. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Trustee” means the person named as such in this Supplemental Indenture and, subject to the provisions of Article Seven of
the Indenture, any successor to that person. 
 “Trust Officer” means any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, senior associate, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the
Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the
administration of the Indenture and this Supplemental Indenture. 
 “U.S. Government Obligations” means direct obligations
of, and obligations guaranteed by, the United States of America for the payment of which the full faith and credit of the United States of America is pledged. 

“U.S. Legal Tender” means such coin or currency of the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts. 
 SECTION 1.02. Additional Rules of Construction. In addition to the
rules of construction set forth in Section 1.03 of the Indenture: 
 (a) “herein,” “hereof” and other
words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 

(b) references in this Supplemental Indenture to section numbers shall be deemed to be references to section numbers of this
Supplemental Indenture unless otherwise specified; and 
 (c) any reference to a statute, law or regulation means that
statute, law or regulation as amended and in effect from time to time and includes any successor statute, law or regulation; provided, that, any reference to the Bankruptcy Law shall mean the Bankruptcy Law as applicable to the
relevant case. 

  
 - 8 - 

 ARTICLE TWO 

THE NOTES 
 SECTION
2.01. Creation of Series. In accordance with Section 2.01 and Section 2.02 of the Indenture, there is hereby created a series of Securities under the Indenture entitled “4.750% Senior Notes due 2021”. 

(1) The Notes shall be issued in the form of one or more permanent global Notes in registered form, substantially in the form set forth in
Exhibit A (each, a “Global Note”), deposited with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee as hereinafter provided and shall bear the legend set forth in
Section 2.07(1). The aggregate principal amount of a Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, as hereinafter provided. The terms and
provisions contained in the Notes annexed hereto as Exhibit A shall constitute, and are hereby expressly made, a part of this Supplemental Indenture and, to the extent applicable, the Company and the Trustee, by their execution and delivery
of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 (2) Notes issued in exchange for
interests in a Global Note pursuant to Section 2.07 may be issued in the form of permanent certificated Notes in registered form in substantially the form set forth in Exhibit A (the “Physical Notes”). 

(3) Subject to Section 2.02 of the Indenture and applicable law, the aggregate principal amount of the Notes which may be authenticated and
delivered on the Issue Date shall not exceed $500,000,000; provided, that, the Company may, without the consent of the Holders, issue additional Notes under this Supplemental Indenture at any time hereafter and may issue Securities of
any other series under the Indenture at any time hereafter. The Trustee shall authenticate all Notes from time to time upon a written order of the Company in the form of an Officers’ Certificate. Each such written order shall specify the amount
of the Notes to be authenticated and the date on which the Notes are to be authenticated, whether the Notes are to be Physical Notes and such other information as the Trustee may reasonably request. 

(4) The aggregate principal amount of the Notes shall be payable on the Maturity Date unless earlier repaid in accordance with this
Supplemental Indenture. 
 (5) Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from the Issue Date. The Company shall pay interest semi-annually in arrears on each Interest Payment Date, commencing on October 1, 2016. Interest shall be computed on the basis of a 360-day year of twelve
30-day months and, in the case of a partial month, the actual number of days elapsed. 
 (6) All amounts payable in connection with the
Notes shall be denominated and payable in the lawful currency of the United States. 

  
 - 9 - 

 (7) The Notes shall be payable, and may be presented for registration of transfer and exchange,
without service charge, at the office of the Company maintained for such purpose in New York, New York, which shall initially be the office or agency of the Trustee. 

(8) The Notes shall not be convertible into any class of capital stock of the Company. 

(9) In the event that Notes are authenticated and delivered subsequent to the date hereof pursuant to Section 2.01(3) hereof, the Company
shall obtain the same “CUSIP” number for such Notes as is printed on the Notes outstanding at such time. 
 (10) Notwithstanding
the foregoing, all Notes issued under this Supplemental Indenture shall vote and consent together on all matters (as to which any of such Notes may vote or consent) as the same series and no Notes issued subsequent to the date hereof will have the
right to vote or consent as a separate series on any matter. 
 (11) If, on a Redemption Date, a Change of Control Payment Date or the
Maturity Date, the Paying Agent holds U.S. Legal Tender or U.S. Government Obligations sufficient to pay all of the principal, premium, if any, and interest due on the Notes payable on that date and is not prohibited from paying such money to the
Holders pursuant to the terms of the Indenture and this Supplemental Indenture, then on and after that date such Notes shall be deemed not to be outstanding and interest on them shall cease to accrue. 

(12) The terms of this Section 2.01(12) will govern with respect to the Notes in lieu of Section 2.04 of the Indenture. An Officer will
sign the Notes for the Company by manual or facsimile signature. If an Officer whose signature is on a Note no longer holds office at the time the Trustee authenticates such Note, such Note will nevertheless be valid. A Note will not be
valid until an authorized signatory of the Trustee manually signs the certificate of authentication on such Note. The signature will be conclusive evidence that such Note has been authenticated under the Indenture and this Supplemental
Indenture. 
 SECTION 2.02. Optional Redemption by the Company. 

(1) Right to Redeem; Notice to Trustee. The Company, at its option, may redeem the Notes in accordance with the provisions of
paragraphs 5 and 6 of the Notes. If the Company elects to redeem Notes pursuant to paragraph 5 of the Notes, it shall notify the Trustee in writing of the Redemption Date, the principal amount of Notes to be redeemed and the Redemption Price
that would be in effect if such Notes were being redeemed on the date of the notice. The Company shall give the notice to the Trustee provided for in this Section 2.02(1) at least 45 days but not more than 90 days before the Redemption Date
(unless a shorter notice shall be satisfactory to the Trustee). 
 (2) Notice of Redemption. At least 30 days but not more than 60
days before a Redemption Date, the Company shall send or cause to be sent a notice of redemption to the Trustee and to each Holder of Notes to be redeemed at such Holder’s address as it appears on the Note register. The notice shall identify
the Notes to be redeemed and shall state: 
 (a) the Redemption Date; 

  
 - 10 - 

 (b) the Redemption Price that would be in effect if such Notes were being
redeemed on the date of the notice; 
 (c) the name and address of the Paying Agent; 

(d) that Notes called for redemption must be presented and surrendered to the Paying Agent to collect the Redemption Price and
any accrued interest; 
 (e) that interest on Notes called for redemption shall cease to accrue on and after the Redemption
Date and, unless the Company defaults in making the redemption payment, the only remaining right of the Holder shall be to receive payment of the Redemption Price upon presentation and surrender to the Paying Agent of the Notes; 

(f) if fewer than all the outstanding Notes are to be redeemed, the certificate number (if any) and principal amounts of the
particular Notes to be redeemed; and 
 (g) the CUSIP number or numbers for the Notes called for redemption. 

At the Company’s request, delivered at least 5 Business Days prior to the date such notice is to be given (unless a shorter period shall
be acceptable to the Trustee), the Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense. In such event, the Company will provide the Trustee with the notice to be delivered to the Holders, which
shall contain the information required by clauses (a) through (g). 
 (3) Effect of Notice of Redemption. Once notice of
redemption is given, Notes called for redemption become due and payable on the Redemption Date and at the Redemption Price stated in the notice. Upon presentation and surrender to the Paying Agent, Notes called for redemption shall be paid at
the Redemption Price, together with any accrued interest. 
 (4) Sinking Fund. There shall be no sinking fund provided for the
Notes. 
 SECTION 2.03. Defaulted Interest. The Company shall pay from time to time on demand (i) interest on overdue
principal and (ii) to the extent lawful, interest on overdue installments of interest (without regard to any applicable grace periods), in each case, at the rate of interest borne by the Notes, plus 1% per annum from and including the relevant
payment date to but excluding the date on which such defaulted amounts shall have been paid by the Company. All such interest will be computed on the basis of a 360-day year comprised of twelve 30-day months, and, in the case of a partial
month, the actual number of days elapsed. 
 If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted
interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which special record date shall be the fifteenth day next preceding the date fixed by the
Company for the payment of defaulted interest or the next succeeding Business Day if such date is not a Business Day. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date
of the proposed payment (a “Default Interest Payment Date”), 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 

  
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to the Trustee for such deposit on or 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 provided in this Section; provided, that, in no event shall the Company deposit monies proposed to be paid in respect of defaulted interest later than 11:00 a.m. New York City time on the proposed Default Interest Payment
Date. At least 15 days before the subsequent special record date, the Company shall send (or cause to be sent) to each Holder, as of a recent date selected by the Company, with a copy to the Trustee at least 20 days prior to such special record
date, a notice that states the subsequent special record date, the Default Interest Payment Date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, any
interest that is paid prior to the expiration of the 30-day period set forth in Section 5.01(1) of this Supplemental Indenture shall be paid to Holders as of the regular record date for the Interest Payment Date for which interest has not been
paid. Notwithstanding the foregoing, the Company may make payment of any defaulted interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as
may be required by such exchange. 
 SECTION 2.04. CUSIP Number. In issuing the Notes, the Company may use a “CUSIP”
number, and, if so, the Company shall use the CUSIP number in notices of redemption or exchange as a convenience to Holders; provided, that, any such notice may state that no representation is thereby deemed to be made as to the
correctness or accuracy of the CUSIP number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Company shall promptly notify the Trustee in writing of any
change in the CUSIP number. 
 In the event that the Company shall issue and the Trustee shall authenticate any Notes issued subsequent to
the Issue Date, the Company shall use its reasonable efforts to obtain the same CUSIP number for such Notes as is printed on the Notes outstanding at such time and provide written notice to the Trustee to such effect. Notwithstanding the
foregoing or any other provision herein to the contrary, all Notes issued under this Supplemental Indenture shall vote and consent together on all matters as one class and no Notes will have the right to vote or consent as a separate class on any
matter. 
 SECTION 2.05. Deposit of Monies. Prior to 11:00 a.m. New York City time on each Interest Payment Date, Maturity
Date, Change of Control Payment Date or Redemption Date, the Company shall have deposited with the Paying Agent in immediately available funds money sufficient to make cash payments, if any, due on such Interest Payment Date, Maturity Date, Change
of Control Payment Date or Redemption Date, as the case may be, in a timely manner which permits the Paying Agent to remit payment to the Holders on such Interest Payment Date, Maturity Date, Change of Control Payment Date or Redemption Date, as the
case may be. 
 SECTION 2.06. Transfer and Exchange. Subject to Section 2.07, when Notes are presented to the Registrar or
a co-Registrar with a request to register the transfer of such Notes or to exchange such Notes for an equal principal amount of Notes of other authorized denominations, the Registrar or co-Registrar shall register the transfer or make the exchange
as requested if its requirements for such transaction are met; provided, that, the Notes presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in
form satisfactory to the Company, the Trustee and the Registrar 

  
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or co-Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing. To permit registration of transfers and exchanges, the Company shall execute and
the Trustee shall authenticate Notes at the Registrar’s or co-Registrar’s request. No service charge shall be made for any registration of transfer or exchange, but the Company and the Trustee may require payment of a sum sufficient to
cover any transfer tax, fee or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchanges or transfers pursuant to Section 2.11 of the Indenture or Section
2.02 hereof, in which event the Company shall be responsible for the payment of such taxes or charges). 
 The Registrar or co-Registrar
shall not be required to register the transfer of or exchange of any Note (i) during a period beginning at the opening of business 15 days before the sending of a notice of redemption of Notes and ending at the close of business on the day such
notice is sent and (ii) selected for redemption in whole or in part pursuant to Section 2.02, except the unredeemed portion of any Note being redeemed in part. 

Any holder of a beneficial interest in a Global Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Note may be effected only through a book-entry system maintained by the Holder of such Global Note (or its agent), and that ownership of a beneficial interest in the Note must be reflected in such book-entry system. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed
hereunder, under the Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Agent Members or beneficial owners of interests in any Global Note) other than to require
delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Supplemental Indenture and the Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof. 
 SECTION 2.07. Book-Entry Provisions for Global Notes.

 (1) The Global Notes initially shall (a) be registered in the name of the Depositary or the nominee of such Depositary, (b) be delivered
to the Trustee as custodian for such Depositary and (c) bear the following legend: 
 UNLESS AND UNTIL IT IS EXCHANGED IN
WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY ANY SUCH NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR NOMINEE OF SUCH
SUCCESSOR DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR 

  
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REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. REPRESENTATIVE OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 
 (2) Members of, or participants in, the Depositary (“Agent
Members”) shall have no rights under the Indenture or this Supplemental Indenture with respect to any Global Note held on their behalf by the Depositary, or the Trustee as its custodian, or under the Global Notes, and the Depositary may be
treated by the Company, the Trustee and any Agent of the Company or the Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any Agent
of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices governing the
exercise of the rights of a Holder of any Note. 
 (3) Transfers of a Global Note shall be limited to transfers in whole, but not in part,
to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Note may be transferred or exchanged for Physical Notes in accordance with the rules and procedures of the Depositary; provided,
that, Physical Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Note if (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Global
Notes and a successor depositary is not appointed by the Company within 90 days of such notice, (ii) the Company discontinues the use of the system of book-entry transfer through the Depositary or any successor thereto or (iii) an Event of Default
has occurred and is continuing and the Registrar has received a written request from the Depositary to issue Physical Notes. 
 (4) In
connection with any transfer or exchange of a portion of the beneficial interest in a Global Note to beneficial owners pursuant to Section 2.07(3), the Registrar shall (if one or more Physical Notes are to be issued) reflect on its books and records
the date and a decrease in the principal amount of such Global Note in an amount equal to the principal amount of the beneficial interest in the Global Note to be transferred, and the Company shall execute and the Trustee, upon receipt of a written
order from the Company, shall authenticate and deliver, one or more Physical Notes of like tenor and amount. 

  
 - 14 - 

 (5) In connection with the transfer of an entire Global Note to beneficial owners pursuant to
Section 2.07(3), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute and the Trustee, upon receipt of a written order from the Company, shall authenticate and deliver, to each beneficial
owner identified by the Depositary in exchange for its beneficial interest in the Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations. 

(6) The Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action which a Holder is entitled to take under the Indenture, this Supplemental Indenture or the Notes. 

(7) Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the Depositary. 

SECTION 2.08. Denominations. The Notes shall be issued in minimum denominations of $2,000 and in any integral multiples of
$1,000 in excess thereof. 
 ARTICLE THREE 

SUCCESSOR CORPORATION 
 The terms
of this Article Three shall govern with respect to the Notes in lieu of Article Five of the Indenture. 
 SECTION 3.01. Company May
Consolidate, etc., Only on Certain Terms. The Company will not consolidate with or merge into any other corporation or convey, transfer or lease its properties and assets substantially as an entirety to any Person, unless: 

(1) the corporation formed by the 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 will be a corporation organized and existing under the laws of the United States of America, a State of the United States of America or the District of Columbia and
expressly assumes, by one or more supplemental indentures, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of, premium, if any, and interest, if any, on all the Notes and the
performance of every covenant of the Indenture and this Supplemental Indenture to be performed or observed by the Company; 
 (2)
immediately after giving effect to the transaction, no Default or Event of Default will have occurred and be continuing; and 
 (3) the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that the consolidation, merger, conveyance, transfer or lease and the supplemental indenture (or the supplemental indentures together) comply
with this Article Three and that all the conditions precedent relating to the transaction set forth in this Section 3.01 have been fulfilled. 

  
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 SECTION 3.02. Successor Corporation Substituted. Upon any event described in
Section 3.01, the successor corporation will succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture and this Supplemental Indenture, and, except in connection with a lease transaction, the
predecessor corporation will be relieved of all obligations and covenants under the Indenture and this Supplemental Indenture. 
 ARTICLE
FOUR 
 ADDITIONAL COVENANTS 

SECTION 4.01. Payment of Notes. The Company will promptly pay or cause to be paid the principal of, premium, if any, and
interest, if any, on each of the Notes at the places and time and in the manner provided in the Notes and this Supplemental Indenture. An installment of principal, premium or interest will be considered paid on the date it is due if the Trustee
or Paying Agent holds on that date in accordance with this Supplemental Indenture money designated for and sufficient to pay the installment then due. The Company will pay or cause to be paid interest on overdue principal at the rate specified
in the Notes; it will also pay interest on overdue installments of interest at the same rate, to the extent lawful. 
 SECTION
4.02. Reporting. The Company will file with the Trustee within 15 days after filing with the SEC, copies of its annual reports and of the information, documents, and other reports (or copies of such portions of any of the foregoing as
the SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also will comply with the other provisions of TIA Section 314(a). Delivery of such
reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

SECTION 4.03. Corporate Existence. Subject to Article Three of this Supplemental Indenture, the Company will do or cause to
be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory) and franchises; provided, that, the Company will not be required to preserve any such right or franchise
if the Board of Directors determines that the preservation of the right or franchise is no longer desirable in the conduct of the business of the Company and that its loss will not be disadvantageous in any material respect to the Holders. 

SECTION 4.04. Compliance Certificate. The Company will deliver to the Trustee within 120 days after the end of each Fiscal Year of
the Company an Officers’ Certificate stating that in the course of the performance by the authorized signers of their duties as Officers of the Company they would normally have knowledge of any Default or Event of Default by the Company and
whether or not the authorized signers know of any Default or Event of Default that occurred during the Fiscal Year. If they do, the Officers’ Certificate will describe the Default or Event of Default, its status and what action the Company is
taking or proposes to take with respect thereto. The Company also will comply with TIA Section 314(a)(4). For the purposes of this Section 4.04, compliance is determined without regard to any grace period or requirement of notice under the Indenture
or this Supplemental Indenture. 

  
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 SECTION 4.05. Further Instruments and Acts. Upon request of the Trustee, the
Company will execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of the Indenture or this Supplemental Indenture. 

SECTION 4.06. Limitations on Liens. The Company shall not, nor shall it permit any Restricted Subsidiary to, create, assume,
incur or suffer to exist any Lien, upon any of its properties or assets, whether owned on the Issue Date or thereafter acquired, unless (1) if such Lien secures Indebtedness which is pari passu with the Notes, then the Notes are secured by a
Lien on the same properties or assets on an equal and ratable basis with the obligation so secured until such time as such obligation is no longer secured by a Lien, (2) if such Lien secures Indebtedness which is subordinated to the Notes, then the
Notes are secured by a Lien on the same properties or assets and the Lien securing such Indebtedness is subordinated to the Lien granted to the Holders to the same extent as such Indebtedness is subordinated to the Notes or (3) such Lien is a
Permitted Lien (as defined below). 
 The following Liens constitute “Permitted Liens”: 

(1) Liens on property of a Person existing at the time such Person is merged into or consolidated with or otherwise acquired by the Company or
any Restricted Subsidiary; provided, that, such Liens were in existence prior to, and were not created in contemplation of, such merger, consolidation or acquisition and do not extend to any assets other than those of the Person merged
into or consolidated with the Company or a Restricted Subsidiary; 
 (2) Liens on property existing at the time of acquisition thereof by
the Company or any Restricted Subsidiary; provided, that, such Liens were in existence prior to, and were not created in contemplation of, such acquisition and do not extend to any assets other than the property acquired; 

(3) Liens imposed by law such as carriers’, warehouseman’s or mechanics’ Liens, and other Liens to secure the performance of
statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like nature incurred in the ordinary course of business; 

(4) Liens incurred in connection with pollution control, industrial revenue, water, sewage or any similar bonds; 

(5) Liens securing Indebtedness representing, or incurred to finance, the cost of acquiring, constructing or improving any assets;
provided, that, the principal amount of such Indebtedness does not exceed 100% of such cost, including construction charges; 

(6) Liens securing Indebtedness (A) between a Restricted Subsidiary and the Company, or (B) between Restricted Subsidiaries; 

  
 - 17 - 

 (7) Liens incurred in the ordinary course of business to secure performance of obligations with
respect to statutory or regulatory requirements, performance or return-of-money bonds, surety bonds or other obligations of a like nature, in each case which are not incurred in connection with the borrowing of money, the obtaining of advances or
credit or the payment of the deferred purchase price of property and which do not in the aggregate impair in any material respect the use of property in the operation of the Company’s business taken as a whole; 

(8) pledges or deposits under workmen’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in
connection with bids, tenders, contracts (other than for the payment of indebtedness) or leases to which the Company or any Restricted Subsidiary is a party, or deposits to secure public or statutory obligations of the Company or of any Restricted
Subsidiary or deposits for the payment of rent, in each case incurred in the ordinary course of business; 
 (9) Liens granted to any bank
or other institution on the payments to be made to such institution by the Company or any Subsidiary pursuant to any interest rate swap or similar agreement or foreign currency hedge, exchange or similar agreement designed to provide protection
against fluctuations in interest rates and currency exchange rates, respectively; provided, that, such agreements are entered into in, or are incidental to, the ordinary course of business; 

(10) Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of set off or similar
rights and remedies; 
 (11) Liens arising from the Uniform Commercial Code financing statements regarding leases; 

(12) Liens securing Indebtedness incurred to finance the acquisition, construction, improvement, development or expansion of a property which
are given within 180 days of the acquisition, construction, improvement, development or expansion of such property and which are limited to such property; 

(13) Liens incurred in connection with Non-Recourse Indebtedness; 

(14) Liens existing on the Issue Date; 

(15) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent or that are being contested in good faith by
appropriate proceedings promptly instituted and diligently concluded; provided, that, any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; 

(16) Liens securing refinancing Indebtedness; provided, that, any such Lien does not extend to or cover any property or assets
other than the property or assets securing Indebtedness so refunded, refinanced or extended; 
 (17) easements, rights-of-way and other
similar encumbrances incurred in the ordinary course of business and encumbrances consisting of zoning restrictions, licenses, restrictions on the use of property or minor imperfections in title thereto which, in the aggregate, are not material in
amount, and which do not in any case materially detract from the Company’s properties subject thereto; and 

  
 - 18 - 

 (18) any extensions, substitutions, modifications, replacements or renewals of the Permitted
Liens described above. 
 Notwithstanding the foregoing, the Company may, and may permit any Restricted Subsidiary to, create, assume, incur
or suffer to exist any Lien upon any of its properties or assets that is not a Permitted Lien without equally and ratably securing the Notes if, at the time the Indebtedness secured by the Lien is incurred, the aggregate amount of all Indebtedness
then outstanding secured by such Lien and all other Liens, together with the aggregate net sale proceeds from all Sale-Leaseback Transactions which are not Permitted Sale-Leaseback Transactions, does not exceed 20% of Consolidated Net Tangible
Assets; provided, that, Indebtedness secured by Permitted Liens shall not be included in the amount of such secured Indebtedness. 

SECTION 4.07. Sale-Leaseback Transactions. The Company shall not, and shall not permit any Restricted Subsidiary to, after the
date hereof, enter into any Sale-Leaseback Transaction other than Permitted Sale-Leaseback Transactions (as defined below). The following Sale-Leaseback Transactions constitute “Permitted Sale-Leaseback Transactions”: 

(1) a Sale-Leaseback Transaction involving the leasing by the Company or any Restricted Subsidiary of model homes in the Company’s
(including its Subsidiaries’) communities; 
 (2) a Sale-Leaseback Transaction relating to a property entered into within 180 days
after (a) the date of acquisition of such property by the Company or a Restricted Subsidiary or (b) the date of the completion of construction or commencement of full operations on such property, whichever is later; 

(3) a Sale-Leaseback Transaction where the Company, within 365 days after such Sale-Leaseback Transaction, applies or causes to be applied to
(a) the retirement of any Funded Debt of the Company or any Restricted Subsidiary (other than Funded Debt which by its terms or the terms of the instrument by which it was issued is subordinate in right of payment to the Notes) or (b) the purchase
by the Company or any Restricted Subsidiary of property substantially similar to the property sold or transferred, in each case, proceeds of the sale of such property, but only to the extent of the amount of proceeds so applied; 

(4) a Sale-Leaseback Transaction where the Company or any Restricted Subsidiary would, on the effective date of such sale or transfer, be
entitled, pursuant to this Supplemental Indenture, to issue, assume or guarantee Indebtedness secured by a Lien upon the relevant property, at least equal in amount to the then present value (discounted at the actual rate of interest of the
Sale-Leaseback Transaction) of the obligation for the net rental payments in respect of such Sale-Leaseback Transaction without equally and ratably securing the Notes; 

(5) a Sale-Leaseback Transaction between the Company and any Restricted Subsidiary or among Restricted Subsidiaries; provided,
that, the lessor shall be the Company or a Restricted Subsidiary; and 

  
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 (6) a Sale-Leaseback Transaction which has a lease of no more than three years in length. 

Notwithstanding the foregoing, the Company may, and may permit any Restricted Subsidiary to, effect any Sale-Leaseback Transaction involving
any real or tangible personal property which is not a Permitted Sale-Leaseback Transaction; provided, that, at the time of the Sale-Leaseback Transaction the aggregate net sales proceeds from all Sale-Leaseback Transactions which are
not Permitted Sale-Leaseback Transactions, together with all Indebtedness secured by Liens other than Permitted Liens, does not exceed 20% of Consolidated Net Tangible Assets. 

SECTION 4.08. Furnishing Guarantees. The Company shall cause each existing or future wholly-owned Subsidiary (other than its
finance company Subsidiaries and any foreign Subsidiaries) that guarantees any of the Company’s Indebtedness or guarantees the obligations of any Subsidiary as a guarantor of the Company’s Indebtedness to become a Guarantor by causing such
Subsidiary, as promptly as practicable, but in any event not later than the date on which such Subsidiary becomes a guarantor of any other Indebtedness of the Company or any Subsidiary, to execute and deliver to the Trustee a Guarantee in
substantially the form of Exhibit B hereto and the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in the Indenture and this Supplemental Indenture relating to the
proposed action have been complied with, and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with (which counsel, as to factual matters, may rely on an Officers’ Certificate).

 SECTION 4.09. Change of Control. 

(1) If a Change of Control Triggering Event occurs, unless the Company has exercised its option to redeem the Notes by notifying the Holders to
that effect as described in Section 2.02 above, the Company shall make an offer (a “Change of Control Offer”) to each Holder of Notes to repurchase all or any part of that Holder’s Notes on the terms set forth in this
Section 4.09; provided, that, the Notes shall be repurchased in multiples of $1,000 and if any Holder elects to have less than all of its Notes repurchased by the Company, the unpurchased portion of the Notes shall be equal to
$2,000 or an integral multiple of $1,000 in excess thereof. In a Change of Control Offer, the Company shall offer payment in cash equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, on
the Notes repurchased to the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public
announcement of the transaction that constitutes or may constitute the Change of Control, the Company shall send a notice to Holders, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering
to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date that notice is sent, other than as may be required by law (a “Change of Control Payment
Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of
Control Payment Date. 

  
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 (2) On each Change of Control Payment Date, the Company shall, to the extent lawful: 

(a) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(b) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (c) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased and that all conditions precedent provided for herein to the Change of Control Offer and to the repurchase by the Company of Notes
pursuant to the Change of Control Offer have been complied with. 
 (3) The Company shall not be required to make a Change of Control Offer
upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party repurchases all Notes
properly tendered and not withdrawn under its offer. The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions
herein, the Company will comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions herein by virtue of any such conflict. 

(4) As used herein: 

“Change of Control” means the occurrence of any of the following: (a) the direct or indirect sale, lease, transfer,
conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken as a whole, to any person,
other than the Company or one of its Subsidiaries; (b) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person becomes the beneficial owner (as defined in Rules
13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed,
measured by voting power rather than number of shares; (c) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in
which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting
Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after
giving effect to such transaction; (d) the first day on which a majority of the members of the Board of Directors are not Continuing Directors; or (e) the adoption of a plan relating to the Company’s liquidation or dissolution. 

 

  
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 Notwithstanding the foregoing, a transaction (or series of related transactions) will not be
deemed to involve a Change of Control under clause (b) above if, either: 
 (i) (A) the Company becomes a direct or
indirect wholly-owned Subsidiary of a holding company and (B)(1) the direct or indirect holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting
Stock immediately prior to that transaction or (2) the shares of the Company’s Voting Stock outstanding immediately prior to such transaction are converted into or exchanged for, a majority of the Voting Stock of such holding company
immediately after giving effect to such transaction; or 
 (ii) (A) Stuart Miller, together with members of his immediate
family, directly or indirectly, becomes the beneficial owner of more than 50%, but less than 66- 2⁄3%, of the Company’s outstanding Voting Stock, measured
by voting power rather than number of shares, and (B) immediately after such transaction or transactions, the Class A Common Stock is listed for trading on the New York Stock Exchange or The Nasdaq Global Market. 

The term “person,” as used in this definition of Change of Control, has the meaning given thereto in Section 13(d)(3) of the
Exchange Act. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors who (1) was a
member of the Board of Directors on the Issue Date or (2) was nominated for election, elected or appointed to the Board of Directors with the approval of a majority of the Continuing Directors who were members of the Board of Directors at the
time of the nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which that member was named as a nominee for election as a director, without objection to the nomination). 

“Fitch” means Fitch Inc. and its successors. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s, BBB- (or the
equivalent) by S&P and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Company. 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Rating Agencies” means (1) each of Moody’s, S&P and Fitch; and (2) if any of Moody’s, S&P or
Fitch ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons beyond the Company’s control, a “nationally recognized statistical rating organization” as such term is defined in Section 3(a)(62)
of the Exchange Act that is selected by the Company (as certified by a resolution of the Board of Directors) as a replacement rating agency for Moody’s, S&P or Fitch, or all of them, as the case may be. 

  
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 “Rating Event” means the rating on the Notes is lowered by at least two of the
three Rating Agencies and the Notes are rated below an Investment Grade Rating by at least two of the three Rating Agencies (and, if there is a split among the three Rating Agencies, by the two Rating Agencies with the lowest ratings), in any case
on any day during the period (which period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) commencing 90 days prior to the earlier of (1) the
first public notice of the occurrence of a Change of Control and (2) the first public notice of the Company’s intention to effect a Change of Control and ending 90 days following consummation of such Change of Control. 

“S&P” means Standard & Poor’s Rating Services, a Standard & Poor’s Financial Services LLC
business, and its successors. 
 “Voting Stock” means, with respect to any specified “person” (as that term is
used in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of that person that is at the time entitled to vote generally in the election of the board of directors of that person. 

ARTICLE FIVE 
 DEFAULTS AND
REMEDIES 
 Except as set forth in this Article Five to the contrary, the terms in Article Six of the Indenture shall govern. 

SECTION 5.01. Events of Default. Pursuant to Section 2.02(11) of the Indenture, any one of the following events shall constitute
an “Event of Default” hereunder and thereunder whenever used with respect to the Notes in this Supplemental Indenture (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) a default by the Company in the payment when due of interest on the Notes, which default continues for a period of 30 days; 

(2) a default by the Company in the payment when due of the principal or Redemption Price or Repurchase Price due with respect to the Notes;

 (3) a default by the Company or any Restricted Subsidiary with respect to its obligation to pay Indebtedness for money borrowed by the
Company or a Restricted Subsidiary (other than any Non-Recourse Indebtedness), which default shall have resulted in the acceleration of, or be a failure to pay at final maturity, Indebtedness aggregating more than $50 million, and where such
acceleration does not cease to exist, or such Indebtedness is not satisfied, in either case, within 30 days after such acceleration; 

  
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 (4) a failure to perform any other covenant or warranty of the Company herein or in the
Indenture, which continues for 60 days after written notice as provided in the last paragraph of this Section 5.01; 
 (5) final judgments
or orders are rendered against the Company or any Restricted Subsidiary which require the payment by the Company or any Restricted Subsidiary of an amount (to the extent not covered by insurance) in excess of $50 million and such judgments or orders
remain unstayed or unsatisfied for more than 60 days and are not being contested in good faith by appropriate proceedings; 
 (6) the
Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary), pursuant to any Bankruptcy Law applicable to the Company or such Significant Subsidiary (or group of Subsidiaries
that, taken as a whole, would constitute a Significant Subsidiary): (a) commences a voluntary case; (b) consents to the entry of an order for relief against it or them in an involuntary case against it or them; (c) consents to the appointment of a
Custodian of it or them or for any substantial part of its or their property; or (d) makes a general assignment for the benefit of its or their creditors; or 

(7) a court of competent jurisdiction enters an order or decree under any applicable Bankruptcy Law: (a) for relief in an involuntary case
against the Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary); (b) appointing a Custodian of the Company or any Significant Subsidiary (or group of Subsidiaries that,
taken as a whole, would constitute a Significant Subsidiary) or for any substantial part of its or their respective property; or (c) ordering the winding up or liquidation of the Company or any Significant Subsidiary (or group of Subsidiaries that,
taken as a whole, would constitute a Significant Subsidiary); and the order or decree remains unstayed and in effect for 90 days. 
 A
Default under clause (4) of this Section 5.01 is not an Event of Default until the Holders of at least 25% in principal amount of the then outstanding Notes with regard to which the Company has failed to comply with a covenant or agreement notify
the Company and the Trustee of the Default and the Company does not cure the Default within 60 days after the giving of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of
Default.” The Company will deliver to the Trustee, within 20 days after it occurs, written notice in the form of an Officers’ Certificate of any event of which the Company is aware which with the giving of notice and the lapse of time
would become an Event of Default under clause (4), its status and what action the Company is taking or proposes to take with respect to it. 

SECTION 5.02. Acceleration of Maturity; Rescission and Annulment. If an Event of Default occurs and is continuing, unless the
principal of the Notes has already become due and payable, the Trustee by notice to the Company, or the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding by notice to the Company and the Trustee, may declare
the outstanding principal of the Notes and any accrued and unpaid interest through the date of such declaration on all of the Notes to be immediately due and payable. Upon such a declaration, such outstanding principal amount and accrued and
unpaid interest, if any, shall be due and payable immediately. If an Event of Default specified in Section 5.01(6) or Section 

  
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5.01(7) of this Supplemental Indenture occurs and is continuing, the outstanding principal amount of the Notes shall automatically become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in aggregate principal amount of the Notes then outstanding, on behalf of the Holders of all of the Notes, by notice to the Company and the Trustee
(and without notice to any other Holder), may rescind any acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of the
outstanding principal amount of any of the Notes that has become due solely as a result of acceleration and if all amounts due to the Trustee under Section 7.07 of the Indenture have been paid. No such rescission shall affect any subsequent
Default or Event of Default or impair any right consequent thereto. 
 In case the Trustee shall have proceeded to enforce any right under
this Supplemental Indenture and such proceedings shall have been discontinued or abandoned because of such waiver or rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case
the Company, the Holders of Notes, and the Trustee shall be restored respectively to their several positions and rights hereunder and all rights, remedies and powers of the Company, the Holders of Notes, and the Trustee shall continue as though no
such proceeding had been taken. 
 The Trustee shall within 90 days after a Trust Officer has actual knowledge of the occurrence of a
Default or any Event of Default, send to all Holders, as the names and addresses of such Holders appear upon the Note register, notice of all Defaults or Events of Default actually known to a Trust Officer, unless such Default or Event of Default is
cured or waived before the giving of such notice; provided, that, except in the case of default in the payment of the principal, interest, Redemption Price or Repurchase Price, as the case may be, on any of the Notes, the Trustee shall
be protected in withholding such notice if and so long as a trust committee of directors and/or officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders; and provided,
further, in the case of any Default under Section 5.01(3) of this Supplemental Indenture, no such notice to Holders shall be given until the end of the 30-day grace period referred to therein. 

The Holders of a majority in principal amount of the Notes then outstanding shall have the right to direct the time, method and place of
conducting any proceedings for any remedy available to the Trustee, subject to the limitations specified in the Indenture and this Supplemental Indenture. 

SECTION 5.03. Waiver of Existing Defaults. The Holders of a majority in aggregate principal amount of the Notes then
outstanding, on behalf of the Holders of all the Notes, by notice to the Trustee may consent to the waiver of any past Default with regard to the Notes and its consequences except (i) a default in the payment of interest or premium, if any, on, or
the principal of, Notes, (ii) a failure to redeem or repurchase any Notes as required under this Supplemental Indenture or (iii) a default in respect of a covenant or a provision that under Section 9.02 of the Indenture or Section 7.02 of this
Supplemental Indenture cannot be modified or amended without the consent of the Holders of all Notes then outstanding. The defaults described in clauses (i), (ii) and (iii) in the previous sentence may be waived with the consent of the Holders
of all Notes then outstanding. When a Default or Event of Default is waived, it is 

  
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deemed cured and not continuing, but no waiver will extend to any subsequent or other Default or impair any consequent right. Without limiting the provisions of Section 7.07 of the
Indenture, the Trustee shall be compensated by the Company for all costs and expenses incurred by it in connection with any action taken by it pursuant to this Section 5.03. 

SECTION 5.04. Limitation on Suits. Pursuant to Section 2.02(11) of the Indenture, no Holders of the Notes may pursue a remedy
with respect to the Indenture or the Notes unless: 
 (1) such Holder gives to the Trustee written notice stating that an Event of Default
as to the Notes is continuing; 
 (2) the Holders of at least a majority in principal amount of the Notes then outstanding make a written
request to the Trustee to pursue the remedy; 
 (3) such Holder or Holders offer to the Trustee reasonable security or indemnity
satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee does not comply with the request within 60 days after
receipt of the request and the offer of security or indemnity, and the Event of Default has not been waived; and 
 (5) the Trustee has
received no contrary direction from the Holders of a majority in principal amount of the Notes then outstanding during such 60-day period. 

No holder of the Notes may use the Indenture to prejudice the rights of another Holder of the Notes or to obtain a preference or priority over
another Holder of the Notes. 
 ARTICLE SIX 

DISCHARGE OF SUPPLEMENTAL INDENTURE 

Except as set forth in this Article Six to the contrary, the terms in Article Eight of the Indenture shall govern. 

SECTION 6.01. Discharge of Supplemental Indenture. When (1) the Company shall deliver to the Trustee for cancellation all
Notes theretofore authenticated (other than any Notes which have been destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not theretofore canceled, or (2) all the Notes
not theretofore canceled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year, whether at stated maturity or upon redemption and the Company shall deposit
with the Trustee, in trust, monies and/or U.S. Government Obligations sufficient to pay at the Maturity Date or Redemption Date, as applicable, all sums which will become due with regard to all Notes theretofore authenticated (other than any Notes
which shall have been mutilated, destroyed, lost or stolen and in lieu of or in substitution for which other Notes shall have been authenticated and delivered) and not theretofore canceled or delivered to the Trustee for cancellation, including the
principal amount and interest accrued to the Maturity Date or Redemption Date, as applicable, and if the Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then the Indenture and this Supplemental Indenture
shall cease to be of further effect with respect to the 

  
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Notes (except as to (i) remaining rights of registration of transfer, substitution and exchange of Notes, (ii) rights hereunder of Holders to receive payments of the principal amount, including
interest due with respect to the Notes and the other rights, duties and obligations of Holders, as beneficiaries hereof with respect to the amounts, if any, so deposited with the Trustee and (iii) the rights, obligations and immunities of the
Trustee hereunder and under the Indenture with respect to the Notes), and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel as required by Section 6.05 and at the cost and expense of the
Company, shall execute proper instruments acknowledging satisfaction of and discharging the Indenture and this Supplemental Indenture with respect to the Notes; the Company, however, hereby agrees to reimburse the Trustee for any costs or expenses
thereafter reasonably and properly incurred by the Trustee, and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee, in connection with the Indenture with respect to the Notes, this Supplemental
Indenture or the Notes. 
 SECTION 6.02. Application of Trust Money. Subject to Section 6.03, the Trustee will hold in
trust money or U.S. Government Obligations deposited with it pursuant to Section 6.01. It will apply the deposited money and the money from the U.S. Government Obligations through the Paying Agent and in accordance with this Supplemental
Indenture to the payment of principal of, premium, if any, and interest, if any, on the Notes with regard to which the money or U.S. Government Obligations were deposited. 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 6.01 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of
the Holders of the Notes. 
 SECTION 6.03. Repayment to the Company. The Trustee and the Paying Agent will promptly pay to
the Company upon request any excess money or securities held by them at any time. The Trustee and the Paying Agent will pay to the Company upon request any money held by them for the payment of principal, premium or interest that remains
unclaimed for two years. After such payment, all liability of the Trustee and the Paying Agent with respect to that money will cease. 

SECTION 6.04. Reinstatement. If the Trustee or the Paying Agent is unable to apply any money in accordance with Section 6.02 by
reason of any order or judgment of any court of governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s obligations under the Indenture and this Supplemental Indenture shall be revived and
reinstated with respect to the Notes as though no deposit had occurred pursuant to Section 6.01 until such time as the Trustee or the Paying Agent is permitted to apply all such money in accordance with Section 6.02; provided, that, if
the Company makes any payment of principal amount or Redemption Price or Repurchase Price of or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money held by the Trustee or Paying Agent. 
 SECTION 6.05. Officers’ Certificate;
Opinion of Counsel. Upon any application or demand by the Company to the Trustee to take any action under Section 6.01, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any,
provided for in the Indenture and this Supplemental Indenture relating to the proposed action 

  
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have been complied with, and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with (which counsel, as to factual matters, may
rely on an Officers’ Certificate). 
 Each such Officers’ Certificate and Opinion of Counsel provided for in this Supplemental
Indenture and delivered to the Trustee with respect to compliance with a condition or covenant pursuant to the previous paragraph shall comply with the provisions of Section 12.05 of the Indenture. 

ARTICLE SEVEN 
 SUPPLEMENTAL
INDENTURES 
 Except as set forth in this Article Seven to the contrary, the terms in Article Nine of the Indenture shall govern. 

SECTION 7.01. Without Consent of Holders. In addition to those matters described in Section 9.01 of the Indenture which
permit the Company and the Trustee to amend or supplement the Indenture or the Notes without the consent of the Holders, the Company and the Trustee may amend or supplement the Indenture, this Supplemental Indenture or the Notes without the consent
of the Holders: 
 (1) to cure any ambiguity, defect or inconsistency that does not adversely affect the rights of any Holder, 

(2) to make any change that does not adversely affect the rights of any Holder, 

(3) to add to the covenants of the Company further covenants, restrictions or conditions that the Board of Directors shall consider to be for
the benefit of the Holders of Notes, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions or conditions a Default or an Event of Default permitting the enforcement of all or any
of the several remedies provided in this Supplemental Indenture; 
 (4) to evidence and provide for the acceptance of appointment hereunder
by a successor Trustee with respect to the Notes; 
 (5) to modify, eliminate or add to the provisions of this Supplemental Indenture to
such extent as shall be necessary for this Supplemental Indenture to comply with the TIA, or under any similar federal statute hereafter enacted; or 

(6) to conform the text of the Indenture, the Notes or any Guarantee of the Notes to any corresponding provisions of the “Description of
Debt Securities” or “Description of Notes” or similar provisions in any prospectus or prospectus supplement filed with the Securities and Exchange Commission in respect of the Notes, including the Prospectus dated October 3, 2014
and the Prospectus Supplement dated February 26, 2016. 
 SECTION 7.02. With Consent of Holders. In addition to those
matters described in Section 9.02 of the Indenture which require the consent of the Holder so affected to amend, 

  
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supplement or waive any provision of the Indenture or this Supplemental Indenture, without the consent of each Holder so affected, no amendment, supplement or waiver (including a waiver pursuant
to Section 5.03) may: 
 (1) extend the fixed maturity of any Note or any installment of interest thereon, reduce the principal amount,
interest rate, Redemption Price, Repurchase Price or amount due upon acceleration, impair the right of a Holder to institute suit for the payment thereof or change the currency in which the Notes are payable, 

(2) reduce the percentage of Notes the Holders of which are required to consent to an amendment, supplement or waiver, 

(3) release any Guarantor except as provided in Article Eight hereof, or 

(4) make any change in Section 5.02, Section 5.03 or this Section 7.02. 

ARTICLE EIGHT 
 GUARANTEE OF NOTES

 SECTION 8.01. Unconditional Guarantee. Except as provided in Section 8.02 or Section 8.04, each Guarantor hereby jointly
and severally, unconditionally and irrevocably guarantees (such guarantee to be referred to herein as a “Guarantee”) to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and
assigns, that: (a) all amounts due with respect to the Notes shall be duly and punctually paid in full when due, whether at maturity, by acceleration or otherwise, and interest on the overdue principal and (to the extent permitted by law) interest,
if any, on the Notes and all other obligations of the Company or the Guarantors to the Holders or the Trustee hereunder, thereunder or under the Indenture and all other obligations shall be promptly paid in full or performed, all in accordance with
the terms hereof and thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, the same shall be promptly paid in full when due or performed in accordance with the terms of the extension
or renewal, whether at maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed, or failing performance of any other obligation of the Company to the Holders under this Supplemental Indenture or under the Notes or
the Indenture, for whatever reason, each Guarantor shall be obligated to pay, or to perform or cause the performance of, the same immediately. An Event of Default under this Supplemental Indenture or the Notes shall constitute an event of default
under each Guarantee, and shall entitle the Holders of Notes to accelerate the obligations of the Guarantors hereunder in the same manner and to the same extent as the obligations of the Company. 

Each of the Guarantors hereby agrees that, subject to Section 8.02 and Section 8.04, its obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes, this Supplemental Indenture or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions
hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Company, any action to enforce the same, whether or not a Guarantee is affixed to 

  
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any particular Note, or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each of the Guarantors hereby waives the benefit of
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants
that its Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes, this Supplemental Indenture, the Indenture and its Guarantee. Each Guarantee is a guarantee of payment and not of
collection. Each Guarantor further agrees that, as between it, on the one hand, and the Holders of Notes and the Trustee, on the other hand, (a) subject to this Article Eight, the maturity of the obligations guaranteed hereby may be accelerated
as provided in Article Five hereof for the purposes of each Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (b) in the event of any acceleration
of such obligations as provided in Article Five hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of each Guarantee. 

No director, officer, employee, incorporator, stockholder or partner, as such, past, present or future, of any Guarantor, as such, shall have
any personal liability under any Guarantee by reason of his, her or its status as such director, officer, employee, incorporator, stockholder or partner. 

Each Guarantor that makes a payment or distribution under its Guarantee shall be entitled to a contribution from each other Guarantor in an
amount pro rata, based on the net assets of each Guarantor, determined in accordance with GAAP. 
 SECTION 8.02. Limitations on
Guarantees; Release or Suspension of Particular Guarantors’ Obligations. The obligations of each Guarantor under its Guarantee will be limited to the maximum amount which, after giving effect to all other contingent and
fixed liabilities of such Guarantor and after giving effect to any collections from or payments made by or on behalf of any other Guarantors in respect of the obligations of such other Guarantors under their respective Guarantees or pursuant to
their contribution obligations under this Supplemental Indenture, will result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent conveyance or fraudulent transfer under federal or state law. 

Additionally, if any Guarantor is released from its Guarantee (rather than a suspension of its Guarantee) of the outstanding Indebtedness of
the Company or the obligations of any Restricted Subsidiary as a guarantor of the Company’s Indebtedness, such Guarantor shall be automatically released from its obligations as Guarantor, and from and after such date, such Guarantor shall cease
to constitute a Guarantor and a Restricted Subsidiary. 
 The obligations of a Guarantor will be automatically suspended, and such Guarantor
shall not constitute a guarantor (but will remain a Restricted Subsidiary) and shall not have any obligations with regard to the Notes, during any period when the principal amount of the Company’s obligations and any Subsidiary’s
obligations as a guarantor of the Company’s obligations (without duplication), in each case other than the Notes and other Indebtedness containing provisions similar to this, that the Guarantor is guaranteeing total less than $75 million. 

  
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 SECTION 8.03. Execution and Delivery of Guarantee. To further evidence the
Guarantee set forth in Section 8.01, each Guarantor hereby agrees to execute and deliver to the Trustee a Guarantee in substantially the form of Exhibit B hereto. Such Guarantee shall be executed on behalf of each Guarantor by either
manual or facsimile signature of an officer or agent of each Guarantor, each of whom, in each case, shall have been duly authorized to so execute by all requisite corporate action. The validity and enforceability of any Guarantee shall not be
affected by the fact that it is not affixed to any Note or Notes. 
 If an officer or agent of a Guarantor whose signature is on this
Supplemental Indenture or a Guarantee no longer holds that office at the time the Trustee authenticates a Note to which such Guarantee relates or at any time thereafter, such Guarantor’s Guarantee of such Note shall be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of any Guarantee set forth
in this Supplemental Indenture on behalf of each Guarantor. 
 SECTION 8.04. Release of a Guarantor due to Extraordinary
Events. If no Default exists or would exist under the Indenture and this Supplemental Indenture, upon the sale or disposition of all or substantially all of the assets of a Guarantor, or all of the Capital Stock of a Guarantor (including by
consolidation, merger, issuance or otherwise), by the Company or a Subsidiary of the Company, or upon the consolidation or merger of a Guarantor with or into any Person (in each case, other than to the Company or an Affiliate of the Company or a
Subsidiary), or if any Guarantor is dissolved or liquidated, such Guarantor and each Subsidiary of such Guarantor that is also a Guarantor, or the Person acquiring such assets (in the event of a sale or other disposition of all or substantially all
of the assets of such Guarantor), shall be deemed automatically and unconditionally released and discharged from all of its obligations under this Article Eight without any further action required on the part of the Trustee or any Holder. 

Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel, each of which shall comply with the
provisions of Section 12.05 of the Indenture, stating that all conditions precedent provided for in the Indenture and this Supplemental Indenture relating to the release of such Guarantor have been complied with (which counsel, as to factual
matters, may rely on an Officers’ Certificate), the Trustee shall execute any documents reasonably requested by the Company or a Guarantor in order to evidence the release of such Guarantor from its obligations under its Guarantee of the Notes
under this Article Eight. 
 Nothing contained in the Indenture, this Supplemental Indenture or in any of the Notes shall prevent any
consolidation or merger of a Guarantor with or into the Company or another Guarantor or shall prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor. 

SECTION 8.05. Waiver of Subrogation. Until this Supplemental Indenture is discharged and all of the Notes are discharged and paid
in full, each Guarantor hereby irrevocably waives and agrees not to exercise any claim or other rights which it may now or hereafter acquire against the Company that arise from the existence, payment, performance or enforcement of the Company’s
obligations under the Notes, this Supplemental Indenture or the Indenture and such 

  
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Guarantor’s obligations under its Guarantee and this Supplemental Indenture, in any such instance including, without limitation, any right of subrogation, reimbursement, exoneration,
contribution, indemnification, and any right to participate in any claim or remedy of the Holders against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without
limitation, the right to take or receive from the Company, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim or other rights. If any amount shall be paid to any
Guarantor in violation of the preceding sentence and any amounts owing to the Trustee or the Holders of Notes under the Notes, this Supplemental Indenture, the Indenture or any other document or instrument delivered under or in connection with such
agreements or instruments, shall not have been paid in full, such amount shall have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of, the Trustee or the Holders and shall forthwith be paid to
the Trustee for the benefit of itself or such Holders to be credited and applied to the obligations in favor of the Trustee or the Holders, as the case may be, whether matured or unmatured, in accordance with the terms of this Supplemental
Indenture. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Supplemental Indenture and that the waiver set forth in this Section 8.05 is knowingly made in
contemplation of such benefits. 
 SECTION 8.06. No Set-Off. Each payment to be made by a Guarantor hereunder in respect of
the Obligations shall be payable in the currency or currencies in which such Obligations are denominated, and shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

SECTION 8.07. Obligations Absolute. The obligations of each Guarantor hereunder are and shall be absolute and unconditional
and any monies or amounts expressed to be owing or payable by each Guarantor hereunder which may not be recoverable from such Guarantor on the basis of a Guarantee shall be recoverable from such Guarantor as a primary obligor and principal debtor in
respect thereof. 
 SECTION 8.08. Obligations Continuing. Except as provided in Section 8.02 or Section 8.04, the
obligations of each Guarantor hereunder shall be continuing and shall remain in full force and effect until all the obligations have been paid and satisfied in full. Each Guarantor agrees with the Trustee and the Holders that it will from time
to time deliver to the Trustee suitable acknowledgments of its continued liability hereunder and under any other instrument or instruments as will prevent any action brought against it in respect of any default hereunder being barred by any statute
of limitations now or hereafter in force and, in the event of the failure of a Guarantor so to do, it hereby irrevocably appoints the Trustee the attorney and agent of such Guarantor to make, execute and deliver such written acknowledgment or
acknowledgments or other instruments as may from time to time become necessary or advisable, in the judgment of the Trustee on the advice of counsel, to fully maintain and keep in force the liability of such Guarantor hereunder. 

SECTION 8.09. Obligations Not Reduced. Except as otherwise provided in Section 8.02 and Section 8.04, the obligations of each
Guarantor hereunder shall not be satisfied, reduced or discharged except solely by the payment of such principal, premium, if any, interest, fees and other monies or amounts as may at any time prior to discharge of this Supplemental Indenture
pursuant to Article Six be or become owing or payable under or by virtue of or otherwise in connection with the Notes, this Supplemental Indenture or the Indenture. 

  
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 SECTION 8.10. Obligations Reinstated. The obligations of each Guarantor
hereunder shall continue to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced the obligations of any Guarantor hereunder (whether such payment shall have been made by or on behalf
of the Company or by or on behalf of a Guarantor) is rescinded or reclaimed from the Trustee or any of the Holders upon the insolvency, bankruptcy, liquidation or reorganization of the Company or any Guarantor or otherwise, all as though such
payment had not been made. If demand for, or acceleration of the time for, payment by the Company is stayed upon the insolvency, bankruptcy, liquidation or reorganization of the Company, all such Indebtedness otherwise subject to demand for
payment or acceleration shall nonetheless be payable by each Guarantor as provided herein. 
 SECTION 8.11. Obligations Not
Affected. Except as otherwise provided in Section 8.02 and Section 8.04, the obligations of each Guarantor hereunder shall not be affected, impaired or diminished in any way by any act, omission, matter or thing whatsoever, occurring
before, upon or after any demand for payment hereunder (and whether or not known or consented to by any Guarantor or any of the Holders) which, but for this provision, might constitute a whole or partial defense to a claim against any Guarantor
hereunder or might operate to release or otherwise exonerate any Guarantor from any of its obligations hereunder or otherwise affect such obligations, whether occasioned by default of any of the Holders or otherwise, including, without limitation:

 (1) any limitation of status or power, disability, incapacity or other circumstance relating to the Company or any other Person,
including any insolvency, bankruptcy, liquidation, reorganization, readjustment, composition, dissolution, winding up or other proceeding involving or affecting the Company or any other Person; 

(2) any irregularity, defect, unenforceability or invalidity in respect of any indebtedness or other obligation of the Company or any other
Person under the Indenture, this Supplemental Indenture, the Notes or any other document or instrument; 
 (3) any failure of the Company,
whether or not without fault on its part, to perform or comply with any of the provisions of this Supplemental Indenture, the Notes or the Indenture, or to give notice thereof to a Guarantor; 

(4) the taking or enforcing or exercising or the refusal or neglect to take or enforce or exercise any right or remedy from or against the
Company or any other Person or their respective assets or the release or discharge of any such right or remedy; 
 (5) the granting of time,
renewals, extensions, compromises, concessions, waivers, releases, discharges and other indulgences to the Company or any other Person; 

(6) any change in the time, manner or place of payment of, or in any other term of, any of the Notes, or any other amendment, variation,
supplement, replacement or waiver of, or any consent to departure from, any of the Notes, this Supplemental Indenture or the Indenture, including, without limitation, any increase or decrease in any amount due with respect to any of the Notes;

  
 - 33 - 

 (7) any change in the ownership, control, name, objects, businesses, assets, capital structure or
constitution of the Company or a Guarantor; 
 (8) any merger or amalgamation of the Company or a Guarantor with any Person or Persons; 

(9) the occurrence of any change in the laws, rules, regulations or ordinances of any jurisdiction by any present or future action of any
governmental authority or court amending, varying, reducing or otherwise affecting, or purporting to amend, vary, reduce or otherwise affect, any of the Obligations or the obligations of a Guarantor under its Guarantee; and 

(10) any other circumstance (other than by complete, irrevocable payment) that might otherwise constitute a legal or equitable discharge or
defense of the Company under this Supplemental Indenture, the Notes or the Indenture or of a Guarantor in respect of its Guarantee hereunder. 

SECTION 8.12. Waiver. Without in any way limiting the provisions of Section 8.01 hereof, each Guarantor hereby waives notice
of acceptance hereof, notice of any liability of any Guarantor hereunder, notice or proof of reliance by the Holders upon the obligations of any Guarantor hereunder, and diligence, presentment, demand for payment on the Company, protest, notice of
dishonor or non-payment of any of the Obligations, or other notice or formalities to the Company or any Guarantor of any kind whatsoever. 

SECTION 8.13. No Obligation to Take Action Against the Company. Neither the Trustee nor any other Person shall have any
obligation to enforce or exhaust any rights or remedies or to take any other steps under any security for the Obligations or against the Company or any other Person or any Property of the Company or any other Person before the Trustee is entitled to
demand payment and performance by any or all Guarantors of their liabilities and obligations under their Guarantees or under this Supplemental Indenture. 

SECTION 8.14. Dealing with the Company and Others. The Holders, without releasing, discharging, limiting or otherwise
affecting in whole or in part the obligations and liabilities of any Guarantor hereunder and without the consent of or notice to any Guarantor, may: 

(1) grant time, renewals, extensions, compromises, concessions, waivers, releases, discharges and other indulgences to the Company or any
other Person; 
 (2) take or abstain from taking security or collateral from the Company or from perfecting security or collateral of the
Company; 
 (3) release, discharge, compromise, realize, enforce or otherwise deal with or do any act or thing in respect of (with or
without consideration) any and all collateral, mortgages or other security given by the Company or any third party with respect to the obligations or matters contemplated by this Supplemental Indenture or the Notes; 

  
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 (4) accept compromises or arrangements from the Company; 

(5) apply all monies at any time received from the Company or from any security upon such part of the Obligations as the Holders may see fit
or change any such application in whole or in part from time to time as the Holders may see fit; and 
 (6) otherwise deal with, or waive or
modify their right to deal with, the Company and all other Persons and any security as the Holders or the Trustee may see fit. 
 SECTION
8.15. Default and Enforcement. If any Guarantor fails to pay in accordance with Section 8.01 hereof, the Trustee may proceed in its name as trustee hereunder in the enforcement of the Guarantee of any such Guarantor and such
Guarantor’s obligations thereunder and hereunder by any remedy provided by law, whether by legal proceedings or otherwise, and to recover from such Guarantor the Obligations. 

SECTION 8.16. Amendment, etc. No amendment, modification or waiver of any provision of this Supplemental Indenture relating
to any Guarantor or consent to any departure by any Guarantor or any other Person from any such provision will in any event be effective or affect the obligations of any other Guarantor unless it is signed by such Guarantor and the Trustee. 

SECTION 8.17. Acknowledgment. Each Guarantor hereby acknowledges communication of the terms of this Supplemental Indenture,
the Notes and the Indenture and consents to and approves of the same. 
 SECTION 8.18. Costs and Expenses. Each Guarantor
shall pay on demand by the Trustee any and all costs, fees and expenses (including, without limitation, legal fees) incurred by the Trustee, its agents, advisors and counsel or any of the Holders in enforcing any of their rights under any Guarantee.

 SECTION 8.19. No Merger or Waiver; Cumulative Remedies. No Guarantee shall operate by way of merger of any of the
obligations of a Guarantor under any other agreement, including, without limitation, this Supplemental Indenture. No failure to exercise and no delay in exercising, on the part of the Trustee or the Holders, any right, remedy, power or
privilege hereunder or under the Notes, the Indenture or the Guarantees, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under the Indenture, the Notes or the
Guarantees preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges in the Guarantee and under this Supplemental Indenture, the Notes, the
Indenture and any other document or instrument between a Guarantor and/or the Company and the Trustee are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

SECTION 8.20. Survival of Obligations. Without prejudice to the survival of any of the other obligations of each Guarantor
hereunder, the obligations of each Guarantor under Section 8.01 shall survive until the indefeasible payment in full of the Obligations and shall be enforceable against such Guarantor without regard to and without giving effect to any defense, right
of offset or counterclaim available to or which may be asserted by the Company or any Guarantor. 

  
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 SECTION 8.21. Guarantee in Addition to Other Obligations. The obligations of
each Guarantor under its Guarantee and this Supplemental Indenture are in addition to and not in substitution for any other obligations to the Trustee or to any of the Holders in relation to this Supplemental Indenture or the Notes and any
guarantees or security at any time held by or for the benefit of any of them. 
 SECTION 8.22. Severability. Any provision
of this Article Eight which is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction unless its removal would substantially defeat the basic intent, spirit and purpose of this Supplemental Indenture and this Article Eight. 

SECTION 8.23. Successors and Assigns. Each Guarantee shall be binding upon and inure to the benefit of each Guarantor and the
Trustee and the Holders and their respective successors and permitted assigns, except that no Guarantor may assign any of its Obligations hereunder or thereunder. 

SECTION 8.24. Acknowledgement under TIA. Each Guarantor acknowledges that, by virtue of its Guarantee, it is becoming an
“obligor” on indenture securities under the TIA. 
 ARTICLE NINE 

MISCELLANEOUS 
 SECTION
9.01. TIA Controls. If any provision hereof limits, qualifies or conflicts with the duties imposed by Sections 310 through 317 of the TIA, the imposed duties shall control. 

SECTION 9.02. Conflict with Indenture. To the extent not expressly amended or modified by this Supplemental Indenture, the
Indenture shall remain in full force and effect. If any provision of this Supplemental Indenture relating to the Notes is inconsistent with any provision of the Indenture, the provision of this Supplemental Indenture shall control with regard
to the Notes. 
 SECTION 9.03. Notices. Any notices or other communications required or permitted hereunder shall be in
writing, and shall be sufficiently given if made by hand delivery, by facsimile, by telecopier or overnight courier guaranteeing next-day delivery or registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 

if to the Company or the Guarantors: 

Lennar Corporation 
 700 N.W.
107th Avenue 
 Miami, Florida 33172 

Attention: General Counsel 

Facsimile: (305) 229-6650 

  
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 with a copy to: 

Willkie Farr & Gallagher LLP 

787 Seventh Avenue 
 New York,
NY 10019 
 Attention: David K. Boston 

Facsimile: (212) 728-8625 
 if
to the Trustee: 
 The Bank of New York Mellon 

101 Barclay Street 
 New York,
NY 10286 
 Attention: Corporate Trust Administration 

Facsimile: (212) 815-5366 
 Each
of the Company, the Guarantors and the Trustee by written notice to the other may designate additional or different addresses for notices to such Person. Any notice or communication to the Company, the Guarantors or the Trustee shall be deemed
to have been given or made as of the date so delivered if hand delivered; when answered back, if telexed; when receipt is acknowledged, if faxed; and five (5) calendar days after mailing if sent by registered or certified mail, postage prepaid
(except that a notice of change of address shall not be deemed to have been given until actually received by the addressee). 
 Any notice
or communication mailed to a Holder shall be mailed by first class mail, certified or registered return receipt requested, or by overnight courier guaranteeing next day delivery to its address as it appears on the registration books of the
Registrar; provided, that, notices given to Holders holding Notes in book-entry form may be given through the facilities of the Depositary or any successor depository. Any notice or communication shall be mailed to any Person as
described in TIA Section 313(c), to the extent required by the TIA. 
 Failure to mail a notice or communication to a Holder or any defect
in it shall not affect its sufficiency with respect to other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 

SECTION 9.04. Electronic Instructions/Directions. The Trustee agrees to accept and act upon instructions or directions
pursuant to this Supplemental Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, that, (a) the party providing such written instructions, subsequent to such transmission
of written instructions, shall provide the originally executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the party
providing such instructions or directions. If a party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the
Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such
instructions notwithstanding such instructions conflict or are inconsistent with a subsequent 

  
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written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the
Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

SECTION 9.05. Governing Law. This Supplemental Indenture and the Notes, and any claim, controversy or dispute arising under
or related to this Supplemental Indenture or the Notes, shall be governed by and construed in accordance with the laws of the State of New York, including Section 5-1401 of the General Obligations Law of the State of New York, but otherwise without
regard to conflict of laws rules that would apply the laws of any other jurisdiction. Each of the parties hereto agrees to submit to the jurisdiction of the courts of the State of New York sitting in the County of New York, or of the United
States of America for the Southern District of New York in any action or proceeding arising out of or relating to this Supplemental Indenture or the Notes. 

SECTION 9.06. WAIVER OF JURY TRIAL. EACH OF THE COMPANY, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

SECTION 9.07. Successors. All agreements of the Company in the Indenture, this Supplemental Indenture and the Notes shall
bind its successors and permitted assigns. All agreements of the Trustee in the Indenture and this Supplemental Indenture shall bind its successors and permitted assigns. 

SECTION 9.08. Counterparts. 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. 
 SECTION
9.09. Business Days. If any payment is due on a day other than a Business Day, such payment may be made on the next succeeding Business Day with the same force and effect as if made on the date that the relevant payment was due, and
no interest shall accrue for the intervening period. 
 SECTION 9.10. No Personal Liability. No director, officer,
employee, incorporator, stockholder or partner, as such, past, present or future, of the Company, any of its successor corporations or any Subsidiary of the foregoing shall have any liability for any Obligations of the Company under the Notes or
this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of
the consideration for the issuance of the Notes. 
 SECTION 9.11. Concerning the Trustee. 

(1) In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out
of or caused by, directly or indirectly, forces 

  
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beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God,
and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry
to resume performance as soon as practicable under the circumstances. 
 (2) Whenever in the administration of the Indenture or this
Supplemental Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence
of bad faith on its part, conclusively rely upon an Officers’ Certificate and/or Opinion of Counsel. 
 (3) Subject to Section 7.01 of
the Indenture, if an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by the Indenture or this Supplemental Indenture at the request or direction of any of the
Holders pursuant to this Supplemental Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee in its sole discretion against any loss, liability, or expense which might be
incurred by it in compliance with such request or direction. 
 (4) In no event shall the Trustee be responsible or liable for special,
punitive, indirect or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of
action. 
 (5) Except with respect to an Event of Default listed in clause (1) or (2) of Section 5.01, the Trustee shall not be deemed to
have notice of any Default or Event of Default unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the Notes, the Indenture and this Supplemental Indenture. 
 (6) The rights, privileges, protections,
immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person
employed to act hereunder. 
 (7) The Trustee may request that the Company deliver a certificate setting forth the names of individuals,
direct dial telephone numbers, and titles of officers authorized at such time to take specified actions pursuant to the Indenture and this Supplemental Indenture. 

(8) The Trustee may rely on and act in accordance with advice or an Opinion of Counsel without liability. 

SECTION 9.12. Severability. In case any one or more of the provisions in this Supplemental Indenture or in the Notes shall be
held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or impaired thereby, it
being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law. 

  
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 SECTION 9.13. FATCA. In order to comply with applicable tax laws, rules and
regulations (inclusive of directives, guidelines and interpretations promulgated by competent authorities) in effect from time to time (“Applicable Law”) that a foreign financial institution, issuer, trustee, paying agent, holder or
other institution is or has agreed to be subject to related to the Indenture and this Supplemental Indenture, the Company agrees (a) to provide to The Bank of New York Mellon upon its request information in the Company’s possession about
applicable parties and/or transactions (including any modification to the terms of such transactions) so that The Bank of New York Mellon can determine whether it has tax related obligations under Applicable Law, and (b) that The Bank of New York
Mellon shall be entitled to make any withholding or deduction from payments under the Indenture or this Supplemental Indenture to the extent necessary to comply with Applicable Law for which The Bank of New York Mellon shall not have any liability
to the Company for its withholding or deduction from payment under the Indenture or this Supplemental Indenture to the extent necessary to comply with Applicable Law. 

[SIGNATURE PAGE FOLLOWS] 

  
 - 40 - 

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

			
	LENNAR CORPORATION
		
	By:	 	 /s/ Jon Jaffe

	Name:	 	Jon Jaffe
	Title:	 	Vice President and Chief Operating Officer
	
	Authorized signatory for each of the Guarantors listed on Schedule I hereto
		
	By:	 	 /s/ Jon Jaffe

	Name:	 	Jon Jaffe
	Title:	 	Authorized Officer
	
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Francine Kincaid

	Name:	 	Francine Kincaid
	Title:	 	Vice President

 EXHIBIT A 

FORM OF NOTE 
 UNLESS AND UNTIL IT
IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY ANY SUCH NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR
NOMINEE OF SUCH SUCCESSOR DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY,
A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. REPRESENTATIVE OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE. 
 CUSIP No.: 526057 BX1 

LENNAR CORPORATION 

4.750% SENIOR NOTES DUE 2021 
  

			
	No. [●]	  	$ [●]

 Interest Rate: 4.750% per annum 

Interest Payment Dates: April 1 and October 1, commencing October 1, 2016 

Record Dates: March 15 and September 15 

LENNAR CORPORATION, a Delaware corporation (the “Company,” which term includes any successor entities), for value received,
promises to pay to              or registered assigns, on April 1, 2021 (the “Maturity Date”), the principal amount of
             Dollars ($              ), together with interest thereon as hereinafter provided. 

Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at
this place. 

  
 A-1 

 IN WITNESS WHEREOF, Lennar Corporation has caused this instrument to be duly executed manually or
by facsimile. 
  

			
	LENNAR CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                     

  
 A-2 

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

	
	 This is one of the Notes described in the within-mentioned Indenture and Supplemental
Indenture.

  

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	  

		 	 Authorized Signatory

	
	 Dated:
                    

  
 A-3 

 LENNAR CORPORATION 

4.750% SENIOR NOTES DUE 2021 

Capitalized terms used herein and not defined herein have the meanings ascribed to them in the Indenture relating to the Notes, dated as of
December 31, 1997 (as amended from time to time, the “Indenture”), between Lennar Corporation, a Delaware corporation (the “Company”), and The Bank of New York Mellon, as successor trustee (the
“Trustee”), as amended and supplemented by the Supplemental Indenture described below. 
  

	1.	INTEREST 

 The Company promises to pay interest on the principal amount of this Note at the rate
per annum set forth above. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Issue Date. The Company shall pay interest semi-annually in arrears on each
Interest Payment Date, commencing as of the Interest Payment Date referred to above, on the Maturity Date and upon redemption. Interest will be computed on the basis of a 360-day year of twelve 30-day months and, in the case of a partial month,
the actual number of days elapsed. 
 Payments of the Redemption Price, Change of Control Payment, principal and interest that are not made
when due will accrue interest per annum at the rate of interest borne by the Notes, plus 1%, from and including, the relevant payment date to, but excluding, the date on which such defaulted amounts shall have been paid by the Company in accordance
with the Indenture. 
  

	2.	METHOD OF PAYMENT 

 Subject to the terms and conditions of the Supplemental Indenture, the
Company shall (a) pay interest on the Notes (except defaulted interest) to the Persons who are the registered Holders of Notes at the close of business on the Record Date immediately preceding the Interest Payment Date even if the Notes are
canceled, transferred or exchanged after such Record Date, and (b) make all other payments in respect of the Notes to the Persons who are registered Holders of Notes at the close of business on the Business Day preceding the Redemption Date or
the Maturity Date, as the case may be. Holders must surrender Notes to a Paying Agent to collect such payments in respect of the Notes referred to in clause (b) of the preceding sentence. The Company shall pay cash amounts in money of the
United States that at the time of payment is legal tender for payment of public and private debts. However, the Company may make the cash payments by check payable in such money. 

 

	3.	PAYING AGENT AND REGISTRAR 

 Initially, The Bank of New York Mellon, a New York banking
corporation, shall act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice, other than notice to the Trustee. The Company or any of its Subsidiaries or any of their
Affiliates may act as Paying Agent, Registrar or co-registrar. 

  
 A-4 

	4.	SUPPLEMENTAL INDENTURE 

 The Company is issuing the Notes under the Indenture, as amended and
supplemented by the Twelfth Supplemental Indenture, dated as of March 4, 2016 (as amended or supplemented, the “Supplemental Indenture”), among the Company, the Guarantors named therein and the Trustee. This Note is one of a duly
authorized issue of Notes of the Company designated as its 4.750% Senior Notes due 2021 (the “Notes”). The Notes include the Notes to be issued on the Issue Date and any additional Notes issued under the Supplemental Indenture at
any time thereafter, all of which Notes are treated as a single class of securities under the Indenture and the Supplemental Indenture. 

The terms of the Notes include those stated in the Indenture and the Supplemental Indenture and those made part of the Indenture and the
Supplemental Indenture by reference to the Trust Indenture Act of 1939 (the “TIA”), as in effect on the date of the Supplemental Indenture. Notwithstanding anything to the contrary herein, the Notes are subject to all such terms,
and Holders of Notes are referred to the Indenture, the Supplemental Indenture and the TIA for a statement of such terms. Each Holder, by accepting a Note, agrees to be bound by all of the terms and provisions of the Indenture and the Supplemental
Indenture, as the same may be amended from time to time in accordance with their respective terms. 
 The Notes are general unsecured,
unsubordinated obligations of the Company in the aggregate principal amount of $500,000,000 to be issued on the Issue Date; provided, that, the Company may, without the consent of the Holders, issue additional Notes under the
Supplemental Indenture at any time thereafter. Neither the Indenture nor the Supplemental Indenture limits other indebtedness of the Company. 
  

	5.	REDEMPTION AT THE OPTION OF THE COMPANY 

 No sinking fund is provided for the Notes. The
Notes are redeemable as a whole, or in part, at any time and from time to time at the option of the Company. If the Company elects to redeem the Notes more than 60 days prior to the Maturity Date, the Redemption Price shall be equal to the
greater of: (a) 100% of their principal amount; and (b) the present value of the Remaining Payments on the Notes being redeemed on the Redemption Date, discounted to the Redemption Date, on a semiannual basis, at the Treasury Rate plus 50 basis
points (0.50 %). If the Company elects to redeem the Notes on or after the date that is 60 days prior to the Maturity Date, the Redemption Price shall be equal to 100% of their principal amount. In either case, the Company will also pay
accrued interest on the principal amount of the Notes to be redeemed up to, but not including, the Redemption Date. 
  

	6.	NOTICE OF REDEMPTION AT THE OPTION OF THE COMPANY 

 Notice of redemption at the option of the
Company shall be sent at least 30 days but not more than 60 days before the Redemption Date to each Holder of Notes to be redeemed at the Holder’s registered address. If money sufficient to pay the Redemption Price of all Notes (or portions
thereof) to be redeemed on the Redemption Date, together with all interest thereon accrued to but not including the Redemption Date, is deposited with the Paying Agent prior to or on the Redemption Date and the Paying Agent is not prohibited from
paying such money to the 

  
 A-5 

 
Holders pursuant to the terms of the Indenture and the Supplemental Indenture, interest ceases to accrue on such Notes or portions thereof beginning on such Redemption Date. Notes in
denominations larger than $2,000 may be redeemed in part but only in integral multiples of $1,000; provided, that, the outstanding principal amount of the unredeemed portion of any such Note shall be equal to at least $2,000 after
giving effect to such redemption. 
  

	7.	DENOMINATIONS; TRANSFER; EXCHANGE 

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

 

	8.	PERSONS DEEMED OWNERS 

 The registered Holder of this Note may be treated as the owner of this
Note for all purposes. 
  

	9.	UNCLAIMED MONEY OR PROPERTY 

 The Trustee and the Paying Agent shall return to the Company upon
written request any money or property held by them for the payment of any amount with respect to the Notes that remains unclaimed for two years; provided, that, the Trustee or such Paying Agent, before being required to make any such
return, shall at the expense of the Company cause to be published once in a newspaper of general circulation in The City of New York or mail to each such Holder notice that such money or property remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed money or property then remaining shall be returned to the Company. After return to the Company, Holders entitled to the money or property must
look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and all liability of the Trustee and Paying Agent with respect to the money or property will cease. 

 

	10.	AMENDMENT; WAIVER 

 Subject to certain exceptions set forth in the Indenture and the
Supplemental Indenture, (i) the Supplemental Indenture or the Notes may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the Notes at the time outstanding and (ii) certain defaults or
noncompliance with certain provisions may be waived with the written consent of the Holders of a majority in aggregate principal amount of the Notes at the time outstanding. Subject to certain exceptions set forth in the Indenture and the
Supplemental Indenture, without the consent of any Holder, the Company and the Trustee may amend the Supplemental Indenture or the Notes to cure any ambiguity, defect or inconsistency, to make any change that does not adversely affect the right of
any Holder, to evidence the succession of another corporation to the Company (or successive successions) and the assumption by the 

  
 A-6 

 
successor corporation of the covenants, agreements and obligations of the Company, to add to the covenants of the Company such further covenants, restrictions or conditions as the Board of
Directors shall consider to be for the benefit of the Holders of Notes, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions or conditions a Default or an Event of Default
permitting the enforcement of all or any of the several remedies provided in the Supplemental Indenture and the Indenture, to evidence and provide for the acceptance of appointment hereunder of a successor Trustee with respect to the Notes, to
modify, eliminate or add to the provisions of the Supplemental Indenture to such extent as shall be necessary for the Supplemental Indenture to comply with the TIA, or under any similar federal statute hereafter enacted, or to conform the text of
the Indenture, the Supplemental Indenture, the Notes or any Guarantee of the Notes to any corresponding provisions of the “Description of Debt Securities” or Description of Notes” or similar provisions in any prospectus or prospectus
supplement filed with the Securities and Exchange Commission in respect of the Notes, including the Prospectus dated October 3, 2014 and the Prospectus Supplement dated February 26, 2016. 

 

	11.	DEFAULTS AND REMEDIES 

 Under the Supplemental Indenture, Events of Default include (i) a
default by the Company in the payment of any interest which continues for more than 30 days after the due date; (ii) a default by the Company in the payment of any principal or Redemption Price or Repurchase Price due with respect to the Notes;
(iii) a default by the Company or any Restricted Subsidiary with respect to its obligation to pay Indebtedness for money borrowed by the Company or a Restricted Subsidiary (other than Non-Recourse Indebtedness), which default shall have resulted in
the acceleration of, or be a failure to pay at final maturity, Indebtedness aggregating more than $50 million, and such acceleration does not cease to exist, or such Indebtedness is not satisfied, in either case, within 30 days after such
acceleration; (iv) a failure to perform any other covenant or warranty of the Company in the Supplemental Indenture or in the Indenture, which continues for 60 days after written notice; (v) final judgments or orders are rendered against the Company
or any Restricted Subsidiary which require the payment by the Company or any Restricted Subsidiary of an amount (to the extent not covered by insurance) in excess of $50 million and such judgments or orders remain unstayed or unsatisfied for more
than 60 days and are not being contested in good faith by appropriate proceedings; (vi) the Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary), pursuant to any
Bankruptcy Law applicable to the Company or such Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary): (A) commences a voluntary case; (B) consents to the entry of an order for relief
against it or them in an involuntary case against it or them; (C) consents to the appointment of a Custodian of it or them or for any substantial part of its or their property; or (D) makes a general assignment for the benefit of its or their
creditors; or (vii) a court of competent jurisdiction enters an order or decree under any applicable Bankruptcy Law: (A) for relief in an involuntary case against the Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary); (B) appointing a Custodian of the Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary) or for any substantial part of
its or their respective property; or (C) ordering the winding up or liquidation of the Company or any Significant Subsidiary (or group of Subsidiaries that, taken as a whole, would constitute a Significant

  
 A-7 

 
Subsidiary); and the order or decree remains unstayed and in effect for 90 days. If an Event of Default occurs and is continuing, the Trustee, or the Holders of at least 25% in aggregate
principal amount of the Notes at the time outstanding, may declare the outstanding principal of the Notes and any accrued and unpaid interest through the date of such declaration on all of the Notes to be immediately due and payable. The events
of bankruptcy or insolvency described in clauses (vi) and (vii) above are Events of Default which shall result in the outstanding principal amount of all Notes being declared due and payable immediately upon the occurrence of such Events of Default.

 Holders may not enforce the Supplemental Indenture, the Indenture or the Notes except as provided in the Indenture and the Supplemental
Indenture. The Trustee may refuse to enforce the Indenture, the Supplemental Indenture and the Notes unless it receives indemnity or security satisfactory to it. Subject to certain limitations, conditions and exceptions, Holders of a
majority in aggregate principal amount of the Notes at the time outstanding may direct the Trustee in its exercise of any trust or power, including the annulment of a declaration of acceleration. The Trustee may withhold from Holders notice of
any continuing default (except a default in payment of amounts specified in clauses (i) and (ii) above) if it determines that withholding notice is in their interests. 
  

	12.	TRUSTEE DEALINGS WITH THE COMPANY 

 The Trustee under the Indenture, in its individual or any
other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if
it were not Trustee. 
  

	13.	NO RECOURSE AGAINST OTHERS 

 A director, officer, employee, incorporator, stockholder or
partner, as such, of the Company, any of the Company’s successor corporations or any Subsidiary of the foregoing shall not have any liability for any obligations of the Company under the Notes or the Supplemental Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 

 

	14.	GUARANTEES 

 This Note will be entitled to the benefits of certain Guarantees, if any, made for
the benefit of the Holders. Reference is hereby made to the Supplemental Indenture for a statement of the respective rights, limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the Holders. 

 

	15.	RANKING 

 The Notes shall be direct, unsecured obligations of the Company and shall rank pari
passu in right of payment with all other unsecured and unsubordinated indebtedness of the Company. The Guarantees shall be direct, unsecured obligations of the Guarantors and shall rank pari passu in right of payment with all
other unsecured and unsubordinated indebtedness of the Guarantors. 

  
 A-8 

	16.	AUTHENTICATION 

 This Note shall not be valid until an authorized officer of the Trustee
manually signs the Trustee’s Certificate of Authentication set forth in this Note. 
  

	17.	ABBREVIATIONS 

 Customary abbreviations may be used in the name of a Holder or an assignee, such
as TEN COM (=tenants in common), TENANT (=tenants by the entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	18.	GOVERNING LAW 

 THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE, THE SUPPLEMENTAL
INDENTURE AND THIS NOTE. 
  

	19.	CHANGE OF CONTROL 

 If a Change of Control Triggering Event occurs, unless the Company has
exercised its option to redeem those Notes by notifying the Holders to that effect as described above, the Company shall make an offer (a “Change of Control Offer”) to each Holder of Notes to repurchase all or any part of that
Holder’s Notes on the terms set forth below; provided, that, the Notes shall be repurchased in multiples of $1,000 and if any Holder elects to have less than all of its Notes repurchased by the Company, the unpurchased portion of
the Notes shall be equal to $2,000 or an integral multiple of $1,000 in excess thereof. In a Change of Control Offer, the Company shall offer payment in cash equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued
and unpaid interest, if any, on the Notes repurchased to the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change
of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company shall send a notice to Holders, describing the transaction that constitutes or may constitute the Change of Control
Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date that notice is sent, other than as may be required by law (a
“Change of Control Payment Date”). The notice shall, if sent prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or
prior to the applicable Change of Control Payment Date. 
 On each Change of Control Payment Date, the Company shall, to the extent lawful,
accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer, deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly
tendered, and deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased and that all

  
 A-9 

 
conditions precedent provided for in the Indenture to the Change of Control Offer and to the repurchase by the Company of Notes pursuant to the Change of Control Offer have been complied with.

 The Company shall not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a
third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party repurchases all Notes properly tendered and not withdrawn under its offer. 

The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict
with the Change of Control Offer provisions herein, the Company will comply with those securities laws and regulations and shall not be deemed to have breached its obligations under the Change of Control Offer provisions herein and in the Indenture
by virtue of any such conflict. 
  

	20.	COPY OF INDENTURE AND SUPPLEMENTAL INDENTURE 

 The Company shall furnish to any Holder upon
written request and without charge a copy of the Indenture and the Supplemental Indenture. Requests may be made to: 
 Lennar
Corporation 
 700 N.W. 107th Avenue 

Miami, Florida 33172 
 Attn:
General Counsel 

  
 A-10 

 ASSIGNMENT FORM 

If you, the Holder, want to assign this Note, fill in the form below and have your signature guaranteed: 

I or we assign and transfer this Note to: 
  

	
	  

	
	  

	
	  

 (Print or type name, address and zip code and 

social security or tax ID number of assignee) 
 and irrevocably
appoint
                                        ,
agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

					
	Dated:                     	  	
Signed:                     
                        
	  	
		  	 (Sign exactly as your name appears

on the other side of this Note)
	  	
			
	Signature
Guarantee:                                       
  	  		  	

 Signature must be guaranteed by an “eligible guarantor institution,” that is, a bank, stockbroker, savings and loan
association or credit union meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934. 

  
 A-11 

 EXHIBIT B 

FORM OF GUARANTEE 

GUARANTEE 
 For value
received, each of the Persons named in Schedule I hereto (collectively, the “Guarantors”) hereby unconditionally guarantees, as principal obligor and not only as a surety, to the Holders of the 4.750% Senior Notes due 2021
(the “Notes”) of Lennar Corporation, a Delaware corporation (the “Company”), the cash payments in United States Dollars of any amounts due with respect to the Notes in the amounts and at the times when due and
interest on all overdue amounts, to the extent lawful, and the payment or performance of all other obligations of the Company under the Indenture (as defined below) or the Notes, to the Holders and the Trustee (as defined below), all in accordance
with and subject to the terms and limitations of the Notes, Article Eight of the Supplemental Indenture (as defined below) and this Guarantee. The validity and enforceability of this Guarantee shall not be affected by the fact that it is not affixed
to any particular Note. 
 Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Indenture, dated as
of December 31, 1997 (as amended from time to time, the “Base Indenture”), between the Company and The Bank of New York Mellon, as successor trustee (the “Trustee”), as amended and supplemented by the Twelfth
Supplemental Indenture, dated as of March 4, 2016, among the Company, the Guarantors named therein and the Trustee (as amended or supplemented from time to time, the “Supplemental Indenture” and, together with the Base Indenture,
the “Indenture”). 
 The obligations of each of the Guarantors to the Holders of Notes and to the Trustee pursuant to this
Guarantee and the Indenture are expressly set forth in Article Eight of the Supplemental Indenture and reference is hereby made to the Indenture for the precise terms of this Guarantee and all of the other provisions of the Indenture to which this
Guarantee relates. 
 THIS GUARANTEE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS GUARANTEE, SHALL BE GOVERNED
BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAWS RULES THAT WOULD APPLY THE LAWS OF ANY OTHER
JURISDICTION. Each of the Guarantors hereto agrees to submit to the jurisdiction of the courts of the State of New York sitting in the County of New York, or of the United States of America for the Southern District of New York in any action or
proceeding arising out of or relating to this Guarantee. 
 This Guarantee is subject to suspension and release upon the terms set forth in
the Supplemental Indenture. 

  
 B-1 

 The undersigned acknowledge that this Guarantee is subject to the TIA and each of the undersigned
agrees to discharge its duties under the TIA. 

  
 B-2 

 IN WITNESS WHEREOF, each of the Guarantors listed on Schedule I hereto has caused this
Guarantee to be duly executed. 
 Dated:
                     
  

			
	Authorized signatory for each of the Guarantors listed on Schedule I hereto
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-3 

 SCHEDULE I 

GUARANTORS 
 308 Furman, Ltd. 

360 Developers, LLC 
 Ann Arundel Farms, Ltd. 

Aquaterra Utilities, Inc. 
 Asbury Woods L.L.C. 

Astoria Options, LLC 
 Autumn Creek Development, Ltd. 

Aylon, LLC 
 Bainebridge 249, LLC 

Bay Colony Expansion 369, Ltd. 
 Bay River Colony Development,
Ltd. 
 BB Investment Holdings, LLC 
 BCI Properties, LLC 

Bellagio Lennar, LLC 
 Belle Meade LEN Holdings, LLC 

Belle Meade Partners, LLC 
 BPH I, LLC 

Bramalea California, Inc. 
 Bressi Gardenlane, LLC 

Builders LP, Inc. 
 Cambria L.L.C. 

Cary Woods LLC 
 Casa Marina Development, LLC 

  
 I-1 

 Caswell Acquisition Group, LLC 

Cherrytree II LLC 
 CL Ventures, LLC 

Coco Palm 82, LLC 
 Colonial Heritage LLC 

Concord Station, LLP 
 Coto De Caza, Ltd., Limited Partnership

 Coventry L.L.C. 
 CPFE, LLC 

CP Red Oak Management, LLC 
 CP Red Oak Partners, Ltd. 

Creekside Crossing, L.L.C. 
 Danville Tassajara Partners, LLC

 Darcy-Joliet, LLC 
 DBJ Holdings, LLC 

Durrell 33, LLC 
 DTC Holdings of Florida, LLC 

Estates Seven, LLC 
 EV, LLC 

Evergreen Village LLC 
 F&R Florida Homes, LLC 

F&R QVI Home Investments USA, LLC 
 Fidelity Guaranty and
Acceptance Corp. 
 FLORDADE LLC 
 Fox-Maple Associates, LLC

  
 I-2 

 Friendswood Development Company, LLC 

Garco Investments, LLC 
 Greystone Construction, Inc. 

Greystone Homes, Inc. 
 Greystone Homes of Nevada, Inc. 

Greystone Nevada, LLC 
 Greywall Club L.L.C. 

Hammocks Lennar LLC 
 Harveston, LLC 

Haverton L.L.C. 
 HCC Investors, LLC 

Heathcote Commons LLC 
 Heritage of Auburn Hills, L.L.C. 

Hewitts Landing Trustee, LLC 
 Home Buyer’s Advantage
Realty, Inc. 
 Homecraft Corporation 
 HTC Golf Club, LLC

 Inactive Companies, LLC 
 Independence L.L.C. 

Isles at Bayshore Club, LLC 
 Kendall Hammocks Commercial, LLC

 Lakelands at Easton, L.L.C. 
 Lakeside Farm, LLC 

LCD Asante, LLC 
 Legends Club, LLC 

  
 I-3 

 Legends Golf Club, LLC 

LEN – Belle Meade, LLC 
 LEN – CG South, LLC 

LEN – Palm Vista, LLC 
 LEN Paradise Cable, LLC 

LEN Paradise Operating, LLC 
 Len Paradise, LLC 

Lencraft, LLC 
 LenFive, LLC 

LenFive Sub, LLC 
 LENH I, LLC 

Len – Hawks Point, LLC 
 Lennar – BVHP, LLC 

Lennar Aircraft I, LLC 
 Lennar Arizona, Inc. 

Lennar Arizona Construction, Inc. 
 Lennar Associates
Management, LLC 
 Lennar Associates Management Holding Company 

Lennar Avenue One, LLC 
 Lennar Bridges, LLC 

Lennar Buffington Colorado Crossing, L.P. 
 Lennar Buffington
Zachary Scott, L.P. 
 Lennar Carolinas, LLC 
 Lennar Central
Park, LLC 
 Lennar Central Region Sweep, Inc. 

  
 I-4 

 Lennar Central Texas, L.P. 

Lennar Chicago, Inc. 
 Lennar Colorado Minerals LLC 

Lennar Colorado, LLC 
 Lennar Commercial Investors, LLC 

Lennar Communities, Inc. 
 Lennar Communities Development, Inc.

 Lennar Communities Nevada, LLC 
 Lennar Communities of
Chicago L.L.C. 
 Lennar Construction, Inc. 
 Lennar Coto
Holdings, L.L.C. 
 Lennar Courts, LLC 
 Lennar Developers,
Inc. 
 Lennar Family of Builders GP, Inc. 
 Lennar Family of
Builders Limited Partnership 
 Lennar Flamingo, LLC 
 Lennar
Fresno, Inc. 
 Lennar Gardens, LLC 
 Lennar Georgia, Inc.

 Lennar Greer Ranch Venture, LLC 
 Lennar Heritage Fields,
LLC 
 Lennar Hingham Holdings, LLC 
 Lennar Hingham JV, LLC

 Lennar Homes Holding, LLC 
 Lennar Homes NJ, LLC 

  
 I-5 

 Lennar Homes, LLC 

Lennar Homes of Arizona, Inc. 
 Lennar Homes of California, Inc.

 Lennar Homes of Tennessee, LLC 
 Lennar Homes of Texas Land
and Construction, Ltd. 
 Lennar Homes of Texas Sales and Marketing, Ltd. 

Lennar Imperial Holdings Limited Partnership 
 Lennar
International Holding, LLC 
 Lennar International, LLC 

Lennar Layton, LLC 
 Lennar Long Beach Promenade Partners, LLC

 Lennar Lytle, LLC 
 Lennar Mare Island, LLC 

Lennar Marina A Funding, LLC 
 Lennar Massachusetts Properties,
Inc. 
 Lennar Middletown, LLC 
 Lennar Multifamily
Communities, LLC 
 Lennar New Jersey Properties Inc. 
 Lennar
New York, LLC 
 Lennar Northeast Properties, Inc. 
 Lennar
Northeast Properties LLC 
 Lennar Northwest, Inc. 
 Lennar
Pacific, Inc. 
 Lennar Pacific Properties, Inc. 
 Lennar
Pacific Properties Management, Inc. 
 Lennar PI Acquisition, LLC 

  
 I-6 

 Lennar PI Property Acquisition, LLC 

Lennar PIS Management Company, LLC 
 Lennar PNW, Inc. 

Lennar Point, LLC 
 Lennar Port Imperial South, LLC 

Lennar Realty, Inc. 
 Lennar Renaissance, Inc. 

Lennar Reno, LLC 
 Lennar Rialto Investment LP 

Lennar Riverside West, LLC 
 Lennar Riverside West Urban Renewal
Company, L.L.C. 
 Lennar Sacramento, Inc. 
 Lennar Sales
Corp. 
 Lennar San Jose Holdings, Inc. 
 Lennar Southland I,
Inc. 
 Lennar Southwest Holding Corp. 
 Lennar Spencer’s
Crossing, LLC 
 Lennar Texas Holding Company 
 Lennar Trading
Company, LP 
 Lennar Ventures, LLC 
 Lennar West Valley, LLC

 Lennar.com Inc. 
 Lennar/LNR Camino Palomar, LLC 

Lennar-Lantana Boatyard, Inc. 
 LEN-Ryan I, LLC 

  
 I-7 

 Len-Verandahs, LLP 

LFS Holding Company, LLC 
 LH Eastwind, LLC 

LH-EH Layton Lakes Estates, LLC 
 LHI Renaissance, LLC 

LMC Malden Station Investor, LLC 
 LMI (150 Ocean) Investor, LLC

 LMI Glencoe Dallas Investor, LLC 
 LMI Lakes West Covina
Investor, LLC 
 LMI Las Colinas Station, LLC 
 LMI Naperville
Investor, LLC 
 LMI Park Central Investor, LLC 
 LMICS, LLC

 LMI Contractors, LLC 
 LMI-JC Developer, LLC 

LMI-JC, LLC 
 LMI-West Seattle, LLC 

LNC at Meadowbrook, LLC 
 LNC at Ravenna, LLC 

LNC Communities I, Inc. 
 LNC Communities II, LLC 

LNC Communities III, Inc. 
 LNC Communities IV, LLC 

LNC Communities V, LLC 
 LNC Communities VI, LLC 

  
 I-8 

 LNC Communities VII, LLC 

LNC Communities VIII, LLC 
 LNC Northeast Mortgage, Inc. 

LNC Pennsylvania Realty, Inc. 
 Long Beach Development, LLC 

Lori Gardens Associates, L.L.C. 
 Lori Gardens Associates II,
LLC 
 Lori Gardens Associates III, LLC 
 Lorton Station, LLC

 LW D’Andrea, LLC 
 Madrona Ridge L.L.C. 

Madrona Village L.L.C. 
 Madrona Village Mews L.L.C. 

Majestic Woods, LLC 
 Mid-County Utilities, Inc. 

Mission Viejo 12S Venture, LP 
 Mission Viejo Holdings, Inc.

 Moffett Meadows Partners, LLC 
 NC Properties I, LLC 

NC Properties II, LLC 
 North American Title Company, Inc. 

North American Asset Development Corporation 
 Northbridge
L.L.C. 
 Northeastern Properties LP, Inc. 
 OHC/Ascot Belle
Meade, LLC 

  
 I-9 

 One SR, L.P. 
 Palm
Gardens At Doral Clubhouse, LLC 
 Palm Gardens at Doral, LLC 

Palm Vista Preserve, LLC 
 PD-Len Boca Raton, LLC 

PD-Len Delray, LLC 
 PG Properties Holding, LLC 

Pioneer Meadows Development, LLC 
 Pioneer Meadows Investments,
LLC 
 POMAC, LLC 
 Prestonfield L.L.C. 

Providence Lakes, LLP 
 PT Metro, LLC 

Raintree Village, L.L.C. 
 Raintree Village II L.L.C. 

Renaissance Joint Venture 
 Reserve @ Pleasant Grove II LLC 

Reserve @ Pleasant Grove LLC 
 Reserve at River Park, LLC 

Reserve at South Harrison, LLC 
 Rivendell Joint Venture 

Rivenhome Corporation 
 RMV, LLC 

Rutenberg Homes, Inc. 
 Rutenberg Homes of Texas, Inc. 

  
 I-10 

 Rye Hill Company, LLC 

S. Florida Construction, LLC 
 S. Florida Construction II, LLC

 S. Florida Construction III, LLC 
 San Lucia, LLC 

Santa Ana Transit Village, LLC 
 Savannah Development, Ltd. 

Savell Gulley Development, LLC 
 Scarsdale, LTD 

Schulz Ranch Developers, LLC 
 Seminole/70th, LLC 

Siena at Old Orchard, LLC 
 South Development, LLC 

Southbank Holding, LLC 
 Spanish Springs Development, LLC 

St. Charles Active Adult Community, LLC 
 Stoney Corporation

 Stoney Holdings, LLC 
 Stoneybrook Clubhouse, Inc. 

Stoneybrook Joint Venture 
 Strategic Holdings, Inc. 

Strategic Technologies, LLC 
 Summerfield Venture L.L.C. 

Summerwood L.L.C. 
 SunStreet Energy Group, LLC 

  
 I-11 

 TCO QVI, LLC 

Temecula Valley, LLC 
 Terra Division, LLC 

The Baywinds Land Trust 
 The Bridges at Rancho Santa Fe Sales
Company, Inc. 
 The Bridges Club at Rancho Santa Fe, Inc. 

The LNC Northeast Group, Inc. 
 The Preserve at Coconut Creek,
LLC 
 Treasure Island Holdings, LLC 
 Treviso Holding, LLC

 U.S. Home Corporation 
 U.S. Home of Arizona Construction
Co. 
 U.S. Home Realty, Inc. 
 U.S.H. Los Prados, Inc. 

U.S.H. Realty, Inc. 
 USH Equity Corporation 

USH – Flag, LLC 
 USH LEE, LLC 

USH Woodbridge, Inc. 
 UST Lennar GP PIS 10, LLC 

UST Lennar GP PIS 7, LLC 
 UST Lennar HW Scala SF Joint Venture

 Valencia at Doral, LLC 
 Vineyard Point 2009, LLC 

WCP, LLC 

  
 I-12 

 West Chocolate Bayou Development, LLC 

West Lake Village, LLC 
 West Seattle Project X, LLC 

West Van Buren L.L.C. 
 Westchase, Inc. 

Willowbrook Investors, LLC 
 Woodbridge Multifamily Developer I,
LLC 
 Wright Farm, L.L.C. 

  
 I-13

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