Document:

DEALER-MANAGER
AGREEMENT

 

July      ,
2016

 

Source
Capital Group, Inc.

As
Dealer-Manager

276
Post Road West

Westport,
CT 06880

 

Ladies
and Gentlemen:

 

The
following will confirm our agreement relating to the proposed subscription rights offering (the “Rights Offering”)
to be undertaken by IEG Holdings Corporation, a Florida corporation (the “Company”), pursuant to which the
Company will distribute to holders of record of its common stock, par value $0.001 per share (the “Common Stock”),
subscription rights to purchase up to 95,319,741 shares of its Common Stock (the “Rights”) as set forth in
the Company’s Form S-1 registration statement (File No. 333-211636) filed with the U.S. Securities and Exchange Commission
(the “Commission”) on May 26, 2016, as amended, to subscribe for and purchase shares of Common Stock (the “Rights
Shares”) at a subscription price to be determined by mutual agreement of the Company and the Dealer-Manager prior to
the completion of the Rights Offering (the “Subscription Price”).

 

1. The
Rights Offering.

 

(a)
The Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock shall receive one Stock Right
for each share of Common Stock held of record at the close of business on August 15, 2016 (the “Record Date”).
Holders of Rights (each a “Holder”) will be entitled to subscribe for and purchase, at the Subscription Price,
one share of Common Stock for every Stock Right granted to Holders on the Record Date (the “Basic Subscription Right”);
provided that, the Rights may only be exercised for a maximum of $100,000,000 of subscription proceeds. 

 

(b) The
Rights shall be non-transferable. The Rights Shares are expected to be quoted on the OTCQX Marketplace and shall be transferable
in accordance with applicable state “blue sky” laws, rules and regulations.

 

(c) Any
holder of Rights who fully exercises all Basic Subscription Rights issued to such holder is entitled to subscribe for Rights Shares
which were not otherwise subscribed for by others pursuant to their Basic Subscription Rights (the “Over-Subscription
Right”). The Over-Subscription Right shall allow a holder of a Right to subscribe for an additional amount equal to
any and all of the Rights Shares which were not otherwise subscribed for as of the Expiration Date (as defined below). Rights
Shares acquired pursuant to the Over-Subscription Rights are subject to allotment and pro rata allocation, as more fully discussed
in the Prospectus (as defined herein).

 

    	 	 	 

    	 

    

 

(d)
The Rights will expire at 5:00 p.m., New York City time, on August 29, 2016, (the “Expiration Date”). The Company
shall have the right to extend the Expiration Date for up to an additional 30 days in its sole discretion.

 

(e) All
funds from the exercise of Basic Subscription Rights and Over-Subscription Rights will be deposited with Computershare Inc., as
the subscription agent (the “Subscription Agent”), and held in a segregated account with the Subscription Agent
pending a final determination of the number of Rights Shares to be issued pursuant to the exercise of Basic Subscription Rights
and Over-Subscription Rights. As soon as is practicable after the Expiration Date, the Company shall conduct a closing of the
Rights Offering (a “Closing”). In no event will the Company raise more than $100,000,000 in this Rights Offering.

 

2. Appointment
as Dealer-Manager; Role of Dealer-Manager. The Company hereby engages Source Capital Group, Inc. (“Source”)
as the exclusive dealer-manager (the “Dealer-Manager”) in connection with the Rights Offering, and authorizes
the Dealer-Manager to act as such on its behalf in connection with the Rights Offering, in accordance with this Dealer-Manager
Agreement (this “Agreement”). During the Engagement Period, as defined in the engagement letter entered into
by and between the Company and the Dealer-Manager, dated April 1, 2016, as amended (the “Engagement Letter”),
the Company will not solicit, negotiate with or enter into any agreement with any placement agent, financial advisor, dealer-manager,
brokers, dealers or underwriters or any other person or entity in connection with the Rights Offering. On the basis of the representations
and warranties and agreements of the Company contained in this Agreement and subject to and in accordance with the terms and conditions
hereof, the Dealer-Manager agrees that as Dealer-Manager it will, in accordance with its customary practice and to the extent
requested by the Company, use its commercially reasonable efforts to (i) advise on pricing, structuring and other terms and conditions
of the Rights Offering, including whether to provide for transferability, tradability and oversubscription rights and limits (it
being acknowledged that such services have been previously provided pursuant to the Engagement Letter without compensation therefor),
(ii) provide guidance on general market conditions and their impact on the Rights Offering, (iii) assist the Company in drafting
a presentation that may be used to market the Rights Offering to existing and potential investors, describing the proposed capital
raising, the Company’s history and performance to date, track records of key executives, highlights of the Company’s
business plan and the intended use of proceeds from the Rights Offering, (iv) advise on the selection of the Information Agent
and Subscription Agent (it being acknowledged that such advice has been previously rendered pursuant to the Engagement Letter),
(v) assist the Company with its understanding of state blue sky laws and retaining of Issuer counsel to assist with the blue sky
filings related to the Rights Offering, (vi) solicit the holders of the Rights to encourage them to exercise such Rights and (vii)
use its best efforts to place any unsubscribed Rights Shares at the Subscription Price for an additional period of up to 45 days.
For the avoidance of doubt and notwithstanding anything that may be to the contrary in this Agreement, the Company and the Dealer-Manager
hereby agree that the Dealer-Manager will not underwrite the Rights Offering, the Dealer-Manager has no obligation to act, and
will not act, in any capacity as an underwriter in connection with the Rights Offering and the Dealer-Manager has no obligation
to purchase or procure purchases of the Rights Shares offered in connection with the Rights Offering. Except as set forth herein,
the Company agrees that it will not hold the Dealer-Manager liable or responsible for the failure of the Rights Offering in the
event that the Rights Offering is not successfully consummated for any reason.

 

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3. No
Liability for Acts of Brokers, Dealers, Banks and Trust Companies. The Dealer-Manager shall not be subject to any liability
to the Company or any of the Company’s Subsidiaries (as defined below) or “affiliates” (“Affiliates,”
as such term is defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)) for
any act or omission on the part of any broker or dealer in securities (other than the Dealer-Manager) or any natural person, partnership,
limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, or other entity or organization (each, a “Person”), and the Dealer-Manager shall
not be liable for its own acts or omissions in performing its obligations as advisor or Dealer-Manager hereunder or otherwise
in connection with the Rights Offering or the related transactions. In soliciting or obtaining exercises of Rights, the Dealer-Manager
shall not be deemed to be acting as the agent of the Company or as the agent of any broker, dealer, bank or trust company, and
no broker, dealer, bank or trust company shall be deemed to be acting as the Dealer-Manager’s agent or as the agent of the
Company. As used herein, the term “Subsidiary” means a Subsidiary of the Company as defined in Rule 405 of
the Securities Act. Unless the context specifically requires otherwise, the term “Company” as used in this
Agreement means the Company and its Subsidiaries collectively on a consolidated basis.

 

4. The
Offer Documents.

 

(a) There
will be used in connection with the Rights Offering certain materials in addition to the Registration Statement, Preliminary Prospectus
and any Prospectus Supplement as filed (each as defined herein), including: (i) all exhibits to the Registration Statement which
pertain to the conduct of the Rights Offering, (ii) any soliciting materials relating to the Rights Offering approved by the Company
and (iii) any free writing prospectus with respect to the Rights Offering filed by the Company (collectively with the Registration
Statement and the Prospectus, the “Offer Documents”). The Dealer-Manager shall be given an opportunity to review
and comment upon the Offer Documents.

 

(b) The
Company agrees to furnish the Dealer-Manager with as many copies as it may reasonably request of the final forms of the Offer
Documents and the Dealer-Manager is authorized to use copies of the Offer Documents in connection with its acting as Dealer-Manager.
The Dealer-Manager hereby agrees that it will not disseminate any written material for or in connection with the solicitation
of exercises of Rights pursuant to the Rights Offering other than the Offer Documents.

 

(c) The
Company represents and agrees that no solicitation material, other than the Offer Documents and the documents to be filed therewith
as exhibits thereto (each in the form of which has been approved by the Dealer-Manager), will be used in connection with the Rights
Offering by or on behalf of the Company without the prior approval of the Dealer-Manager, which approval will not be unreasonably
withheld. In the event that the Company uses or permits the use of any such solicitation material in connection with the Rights
Offering, then the Dealer-Manager shall be entitled to withdraw as Dealer-Manager in connection with the Rights Offering and the
related transactions without any liability or penalty to the Dealer-Manager or any other Person identified in Section 11 hereof
as an “indemnified party,” and the Dealer-Manager shall be entitled to receive the payment of all fees and expenses
payable under this Agreement or the Engagement Letter which have accrued to the date of such withdrawal or which otherwise thereafter
become payable.

 

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(d) As
of the date hereof and at all times prior to and following the effectiveness of the Registration statement, the Company and its
officers, directors and Affiliates shall abide by all rules and regulations of the Commission relating to public offerings, including,
without limitation, those relating to public statements and disclosures of material non-public information.

 

5. Representations
and Warranties. The Company represents and warrants to the Dealer-Manager that:

 

(a) The
Company has prepared and filed with the Commission a registration statement, and an amendment or amendments thereto, on Form S-1
(File No. 333-211636) including a Preliminary Prospectus (as defined below) for the registration of the Rights and Rights Shares
under the Securities Act, which Registration Statement, as so amended prior to the Effective Time (including post-effective amendments,
if any), has been declared effective by the Commission and copies of which have heretofore been delivered to the Dealer-Manager.
At the time of such filing, the Company met the requirements of Form S-1 under the Securities Act. Promptly after execution and
delivery of this Agreement, the Company will prepare and file a prospectus in accordance with the provisions of Rule 430A (“Rule
430A”) of the rules and regulations of the Commission under the Securities Act (the “Securities Act Regulations”)
and paragraph (b) of Rule 424 (“Rule 424(b)”) of the Securities Act Regulations. The information included in
such prospectus that was omitted from such Registration Statement at the time it became effective but that is deemed to be part
of such Registration Statement at the time it became effective pursuant to paragraph (b) of Rule 430A is referred to as “Rule
430A Information.” The Preliminary Prospectus and each prospectus used before such Registration Statement became effective,
and any prospectus that omitted the Rule 430A Information that was used after such effectiveness and prior to the execution and
delivery of this Agreement, is referred to herein as a “Preliminary Prospectus.” For purposes of this Agreement,
“Effective Time” means the date and the time as of which such registration statement, or the most recent post-effective
amendment thereto, if any, was declared effective by the Commission; “Effective Date” means the date of the
Effective Time; “Registration Statement” means such Registration Statement, as amended at the Effective Time,
including any documents which are exhibits thereto; and “Prospectus” means such final prospectus, as first
filed with the Commission pursuant to paragraph (1) or (4) of Rule 424(b) of the Securities Act, including the Preliminary Prospectus
all information or reports under the Securities Exchange Act of 1934, as amended, incorporated in the Prospectus by reference.
The Commission has not issued any order preventing or suspending the use of any Preliminary Prospectus or the Prospectus. All
references in this Agreement to the Registration Statement, a Preliminary Prospectus, and the Prospectus, or any amendments or
supplements to any of the foregoing shall be deemed to include any copy thereof filed with the Commission pursuant to its Electronic
Data Gathering, Analysis and Retrieval System (“EDGAR”). The Prospectus delivered to the Dealer-Manager for
use in connection with the Rights Offering will be identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation S-T promulgated by the Commission.

 

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(b) The
Registration Statement (together with all exhibits filed as part of the Registration Statement) conforms, and any Preliminary
Prospectus and the Prospectus and any further amendments or supplements to the Registration Statement conforms or will conform,
when they are filed with or become effective by the Commission, as the case may be, in each case, in all material respects to
the requirements of the Securities Act and collectively do not and will not, as of the applicable Effective Date (as to the Registration
Statement and any amendment thereto) and as of the applicable filing date (as to the Prospectus and any amendment or supplement
thereto) contain any 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 (with respect to the Prospectus, in the light of the circumstances under which they were made)
not misleading; provided that no representation or warranty is made by the Company as to information contained in or omitted from
the Registration Statement or the Prospectus in reliance upon and in conformity with written information furnished to the Company
by or on behalf of the Dealer-Manager specifically for inclusion therein, it being acknowledged and agreed that such information
provided by or on behalf of the Dealer-Manager consists solely and exclusively of disclosure of the name of the Dealer-Manager
acting in its capacity as dealer-manager for the Rights Offering contained in the Prospectus (collectively, the “Dealer-Manager
Information”) under appropriate headings and in its final form as approved by the Dealer-Manager and its counsel.

 

(c) There
are no contracts, agreements, plans or other documents which are required to be described in the Prospectus or filed as exhibits
to the Registration Statement by the Securities Act which have not been described in the Prospectus or filed as exhibits to the
Registration Statement or referred to in, or incorporated by reference into, the exhibit table of the Registration Statement as
permitted by the Securities Act.

 

(d) The
Company and each of its Subsidiaries have been duly incorporated and are validly existing as corporations in good standing under
the laws of their respective jurisdictions of incorporation, are duly qualified to do business and are in good standing as foreign
corporations in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective
businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties
and to conduct the businesses in which they are engaged, except where the absence of such power or authority (either individually
and in the aggregate) could not reasonably be expected to have a material adverse effect on: (i) the business, condition (financial
or otherwise), results of operations, shareholders’ equity, properties or prospects (as such prospects are disclosed or
described in the Prospectus) of the Company or its Subsidiaries; (ii) the long-term debt or capital stock of the Company or its
Subsidiaries; or (iii) the Rights Offering or consummation of any of the other transactions contemplated by this Agreement, the
Registration Statement or the Prospectus (any such effect being a “Material Adverse Effect”).

 

(e) This
Agreement has been duly authorized, executed and delivered by the Company and, assuming the due authorization, execution and delivery
by the Dealer-Manager, constitutes the valid and legally binding agreement of the Company, enforceable against the Company in
accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws relating to or affecting creditors’ rights generally and by general principles of equity.

 

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(f) Neither
the Company nor any of its Subsidiaries: (i) is in violation of its charter or by-laws, (ii) in default under or in breach of,
and no event has occurred which, with notice or lapse of time or both, would constitute a default or breach under or result in
the creation or imposition of any lien, charge, mortgage, pledge, security interest, claim, equity, trust or other encumbrance,
preferential arrangement, defect or restriction of any kind whatsoever (each, a “Lien”) upon any of their property
or assets pursuant to, any material contract, agreement, indenture, mortgage, deed of trust, loan agreement or other agreement
or instrument to which it is a party or by which it is bound or to which any of its properties or assets is subject, or (iii)
is in violation in any respect of any law, rule, regulation, ordinance, directive, judgment, decree or order, foreign and domestic,
to which it or its properties or assets may be subject or has failed to obtain any material license, permit, certificate, franchise
or other governmental authorization or permit necessary to the ownership of its properties or assets or to the conduct of its
business, except, in the case of clauses (ii) and (iii) above, any violation, default or failure to possess the same that would
not have a Material Adverse Effect.

 

(g)
Prior to or on the date hereof: (i) the Company and the Subscription Agent have or will have entered into a subscription agency
agreement (the “Subscription Agency Agreement”) if required by the Subscription Agent and (ii) the Company
and Georgeson LLC (the “Information Agent”) have or will have entered into an information agency agreement
(the “Information Agency Agreement”) if required by the Information Agent. When executed by the Company, if
applicable, each of the Subscription Agency Agreement and the Information Agency Agreement will have been duly authorized, executed
and delivered by the Company and, assuming due authorization, execution and delivery by Subscription Agent or the Information
Agent, as the case may be, will constitute a valid and legally binding agreement of the Company enforceable in accordance with
its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws relating to or affecting creditors’ rights generally and by general principles of equity.

 

(h) The
Rights and Rights Shares to be issued and distributed by the Company have been duly and validly authorized and, when issued and
delivered in accordance with the terms of the Offer Documents, will be duly and validly issued, and will constitute valid and
legally binding obligations of the Company enforceable against the Company in accordance with their terms, no holder of the Rights
and Rights Shares is or will be subject to personal liability by reason of being such a holder, and the Rights and Rights Shares
conform to the description thereof contained in the Prospectus. The shares of Common Stock issuable upon exercise of any Rights
have been duly and validly authorized and, when issued and delivered in accordance with the terms of the Rights, will be duly
and validly issued, fully paid and non-assessable and will constitute valid and legally binding obligations of the Company enforceable
against the Company in accordance with their terms, no holder of the Common Stock is or will be subject to personal liability
by reason of being such a holder, and the Common Stock conforms to the description thereof contained in the Prospectus.

 

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(i) Except
as disclosed in the Prospectus with respect to the Company’s authorized capitalization, the Rights Shares have been duly
and validly authorized and reserved for issuance upon exercise of the Rights and are free of statutory and contractual preemptive
rights and are sufficient in number to meet the exercise requirements of the Rights Offering; and the Rights Shares, when so issued
and delivered against payment therefore in accordance with the terms of the Rights Offering, will be duly and validly issued,
fully paid and non-assessable, with no personal liability attaching to the ownership thereof, and will conform to the description
thereof contained in the Prospectus.

 

(j) The
Common Stock is quoted on the OTCQX Marketplace. The Company has not received an oral or written notification from the OTCQX Marketplace
or any court or any other federal, state, local or foreign governmental or regulatory authority having jurisdiction over the Company
or any of its Subsidiaries or any of their properties or assets (“Governmental Authority”) of any inquiry or
investigation or other action that would cause the Common Stock or the Rights Shares to not be quoted on the OTCQX Marketplace.

 

(k) The
Company has an authorized capitalization as set forth under the caption “Capitalization” in the Prospectus,
and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid
and non-assessable and have been issued in compliance with federal and state securities laws. None of the outstanding shares of
Company capital stock were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe
for or purchase securities of the Company. There are no authorized or outstanding options, warrants, preemptive rights, rights
of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for,
any capital stock of the Company or any of its subsidiaries other than those accurately described in the Registration Statement.
The description of the Company’s stock option, stock bonus and other stock plans or arrangements, and the options or other
rights granted thereunder, set forth in the Registration Statement accurately and fairly presents in all material respects the
information required to be shown with respect to such plans, arrangements, options and rights.

 

(l) The
Company and its Subsidiaries own or lease all such assets or properties as are necessary to the conduct of its business as presently
operated and as proposed to be operated as described in the Registration Statement and the Prospectus. Except to the extent leased
by the Company or its Subsidiaries, the Company and its Subsidiaries have good and marketable title in fee simple to all assets
or real property and good and marketable title to all personal property owned by them, in each case free and clear of any Lien,
except for such Liens as are described in the Registration Statement and the Prospectus. Any assets or real property and buildings
held under lease or sublease by the Company or any Subsidiary is held under valid, subsisting and enforceable leases with such
exceptions as are not material to, and do not interfere with, the use made and proposed to be made as described in the Registration
Statement and Prospectus of such property and buildings by the Company or such Subsidiary. Neither the Company nor any Subsidiary
has received any notice of any material claim adverse to its ownership of any real or personal property or of any material claim
against the continued possession of any real property, whether owned or held under lease or sublease by the Company or any Subsidiary.

 

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(m) The
Company and its Subsidiaries have all material consents, approvals, authorizations, orders, registrations, qualifications, licenses,
filings and permits of, with and from all judicial, regulatory and other Governmental Authorities and all third parties, foreign
and domestic (collectively, with the Licensing Requirements described below, the “Consents”), to own, lease
and operate their properties and conduct their businesses as presently being conducted and as disclosed in the Registration Statement
and the Prospectus, and each such Consent is valid and in full force and effect. The Company has not received notice of any investigation
or proceedings which results in or, if decided adversely to the Company, could reasonably be expected to result in, the revocation
of any Consent or reasonably be expected to have a Material Adverse Effect. No Consent contains a materially burdensome restriction
not adequately disclosed in the Registration Statement and the Prospectus.

 

(n) The
execution, delivery and performance of this Agreement by the Company, the issuance of the Rights in accordance with the terms
of the Offer Documents, the issuance of the Rights Shares in accordance with the terms of the Rights Offering, and the consummation
by the Company of the transactions contemplated hereby, the Subscription Agency Agreement and the Information Agency Agreement,
will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under,
any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries
or any of its Affiliates is a party or by which the Company or any of its Subsidiaries or its Affiliates is bound or to which
any of the properties or assets of the Company or any of its Subsidiaries or its Affiliates is subject, nor will such actions
result in any violation of the provisions of the charter or by-laws of the Company or any of its Subsidiaries or any statute or
any order, rule or regulation of any Governmental Authority; and except for the registration of the Rights and the Rights Shares
under the Securities Act and such consents, approvals, authorizations, registrations or qualifications as may be required under
the Exchange Act and applicable state securities laws in connection with the distribution of the Rights and the sale of the Rights
Shares by the Company, no consent, approval, authorization or order of, or filing or registration with, any such court or Governmental
Authority is required for the execution, delivery and performance of this Agreement by the Company and the consummation by it
of the transactions contemplated hereby.

 

(o) Except
as otherwise set forth in the Prospectus, there are no contracts, agreements or understandings between the Company and any Person
granting such Person the right to require the Company to include such securities in the securities registered pursuant to the
Registration Statement. No holder of any security of the Company has any rights of rescission or similar rights with respect to
such securities held by them.

 

(p) Neither
the Company nor any of its Subsidiaries has sustained, since the date of the latest balance sheet included in the Prospectus or
after such date and as disclosed in the Prospectus, any material loss or interference with its business from fire, explosion,
flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order
or decree; and, since such date or after such date and as disclosed in the Prospectus, there has not been any change in the capital
stock or long-term debt of the Company or any of its Subsidiaries or any material adverse change, or any development involving
a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders’
equity, results of operations or prospects (as such prospects are disclosed or described in the Prospectus) of the Company and
its Subsidiaries (a “Material Adverse Change”). Since the date of the latest balance sheet presented in the
Prospectus, the Company has not incurred or undertaken any liabilities or obligations, whether direct or indirect, liquidated
or contingent, matured or unmatured, or entered into any transactions, including any acquisition or disposition of any business
or asset, which are material to the Company, except for liabilities, obligations and transactions which are disclosed in the Registration
Statement, any Preliminary Prospectus and the Prospectus.

 

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(q) Rose,
Snyder & Jacobs LLP (“RSJ”), whose reports relating to the Company are included in the Registration Statement,
are independent registered public accountants as required by the Securities Act, the Exchange Act and the rules and regulations
promulgated by the Public Company Accounting Oversight Board (the “PCAOB”). RSJ, to the best of the Company’s
knowledge, is duly registered and in good standing with the PCAOB. RSJ has not, during the periods covered by the financial statements
included in the Registration Statement, the Preliminary Prospectus and the Prospectus, provided to the Company any non-audit services,
as such term is used in Section 10A(g) of the Exchange Act.

 

(r) The
financial statements, including the notes thereto, and any supporting schedules included in the Registration Statement, any Preliminary
Prospectus and the Prospectus present fairly, in all material respects, the financial position as of the dates indicated and the
cash flows and results of operations for the periods specified of the Company. Except as otherwise stated in the Registration
Statement, any Preliminary Prospectus and the Prospectus, said financial statements have been prepared in conformity with United
States generally accepted accounting principles applied on a consistent basis throughout the periods involved. Any supporting
schedules included in the Registration Statement, any Preliminary Prospectus and the Prospectus present fairly, in all material
respects, the information required to be stated therein. No other financial statements or supporting schedules are required to
be included or incorporated by reference in the Registration Statement. The other financial and statistical information included
in the Registration Statement, any Preliminary Prospectus and the Prospectus present fairly, in all material respects, the information
included therein and have been prepared on a basis consistent with that of the financial statements that are included in the Registration
Statement, such Preliminary Prospectus and the Prospectus and the books and records of the respective entities presented therein.

 

(s) There
are no pro forma or as adjusted financial statements which are required to be included in the Registration Statement, any Preliminary
Prospectus and the Prospectus in accordance with Regulation S-X under the Securities Act which have not been included as so required.
The pro forma and/or as adjusted financial information included in the Registration Statement, any Preliminary Prospectus and
the Prospectus has been properly compiled and prepared in accordance with the applicable requirements of the Securities Act and
include all adjustments necessary to present fairly, in all material respects, in accordance with generally accepted accounting
principles the pro forma and as adjusted financial position of the respective entity or entities presented therein at the respective
dates indicated and their cash flows and the results of operations for the respective periods specified. The assumptions used
in preparing the pro forma and as adjusted financial information included in the Registration Statement, any Preliminary Prospectus
and the Prospectus provide a reasonable basis for presenting the significant effects directly attributable to the transactions
or events described therein. The related pro forma and pro forma as adjusted adjustments give appropriate effect to those assumptions;
and the pro forma and pro forma as adjusted financial information reflect the proper application of those adjustments to the corresponding
historical financial statement amounts.

 

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(t) The
statistical, industry-related and market-related data included in the Registration Statement, any Preliminary Prospectus and the
Prospectus are based on or derived from sources which the Company reasonably believes are reliable and accurate, and such data
agree with the sources from which they are derived. All applicable third party consents have been obtained in order for such data
to be included in the Registration Statement, any Preliminary Prospectus and the Prospectus.

 

(u) Except
as disclosed in the Registration Statement and the Prospectus, the Company maintains a system of internal accounting and other
controls 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 United States generally accepted accounting principles 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 accounting
for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

(v) The
Company’s Board of Directors has validly appointed an audit committee, compensation committee and nominating and corporate
governance committee whose composition satisfies the requirements of the rules and regulations of the Commission and the Company’s
Board of Directors and/or audit committee, compensation committee and the nominating corporate governance committee has each adopted
a charter as described in the Registration Statement, and such charters are in full force and effect as of the date hereof. Neither
the Company’s Board of Directors nor the audit committee thereof has been informed, nor is any director of the Company aware,
of: (i) except as disclosed in the Registration Statement and the Prospectus, any significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s
ability to record, process, summarize and report financial information; or (ii) any fraud, whether or not material, that involves
management or other employees who have a significant role in the Company’s internal control over financial reporting.

 

(w) The
Company is in material compliance with the provisions of the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”)
applicable to the Company, and the rules and regulations promulgated thereunder and related or similar rules and regulations promulgated
by any other Governmental Authority or self-regulatory entity or agency, except for violations which, singly or in the aggregate,
are disclosed in the Prospectus or would not have a Material Adverse Effect.

 

(x) No
relationship, direct or indirect, exists between or among any of the Company or any Affiliate of the Company, on the one hand,
and any director, officer, shareholder, customer or supplier of the Company or any Affiliate of the Company, on the other hand,
which is required by the Securities Act or the Exchange Act to be described in the Registration Statement or the Prospectus which
is not so described as required. Except as disclosed in the Registration Statement and the Prospectus, there are no outstanding
loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness
by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members.
The Company has not, in violation of Sarbanes-Oxley, directly or indirectly, including through any Affiliate of the Company (other
than as permitted under Sarbanes-Oxley for depositary institutions), extended or maintained credit, arranged for the extension
of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or executive officer of the
Company.

 

    	 	 10	 

    	 

    

 

(y) Except
as described in the Prospectus, there are no legal or governmental proceedings pending to which the Company or any of its Subsidiaries
is a party or of which any property or asset of the Company or any of its Subsidiaries is the subject which, if determined adversely
to the Company or any of its Subsidiaries, are reasonably likely to have a Material Adverse Effect; and to the best of the Company’s
knowledge, except as disclosed in the Prospectus, no such proceedings are threatened or contemplated by Governmental Authorities
or threatened by others.

 

(z) The
Company and its Subsidiaries have filed all necessary federal, state and foreign income and franchise tax returns and have paid
all taxes required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied
against any of them, except where the failure to make such filings or make such payments, either individually or in the aggregate,
could not reasonably be expected to have, a Material Adverse Effect. The Company has made adequate charges, accruals and reserves
in its financial statements above in respect of all federal, state and foreign income and franchise taxes for all periods as to
which the tax liability of the Company or any of its Subsidiaries has not been finally determined.

 

(aa) Each
of the Company and its Subsidiaries maintains insurance of the types and in the amounts which the Company believes to be reasonable
and sufficient for a company of its size operating in the Company’s industry, including, but not limited to: (i) directors’
and officers’ insurance (including insurance covering the Company, its directors and officers for liabilities or losses
arising in connection with the Rights Offering, including, without limitation, liabilities or losses arising under the Securities
Act, the Exchange Act and applicable foreign securities laws), (ii) insurance covering real and personal property owned or leased
against theft, damage, destruction, acts of vandalism and all other risks customarily insured against and (iii) business interruption
insurance. There are no claims by the Company or any of its Subsidiaries under any policy or instrument described in this paragraph
as to which any insurance company is denying liability or defending under a reservation of rights clause. All of the insurance
policies described in this paragraph are in full force and effect. Neither the Company nor any of its Subsidiaries has been refused
any insurance coverage sought or applied for, and the Company has no 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.

 

    	 	 11	 

    	 

    

 

(bb) The
Company and its Subsidiaries own or possess or have the right to use on reasonable terms all patents, patent rights, patent applications,
licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential
information, systems or procedures), trademarks, service marks, trade names, service names and other intellectual property (collectively,
“Intellectual Property”) necessary to carry on their respective businesses as described in the Prospectus and
as proposed to be conducted; and neither the Company nor any of its Subsidiaries has received any notice or is otherwise aware
of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or
circumstances which would render any Intellectual Property invalid or inadequate to protect the interests of the Company or any
of its Subsidiaries therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding)
or invalidity or inadequacy, individually or in the aggregate, might result in a Material Adverse Effect. All former and current
employees of the Company or any of its Subsidiaries (and, to the Company’s knowledge, all other agents, consultants and
contractors of the Company or any of its subsidiaries who contributed to or participated in the conception or development of any
Intellectual Property for the Company or any of its Subsidiaries) have executed written contracts or agreements that assign to
the Company all rights to any inventions, improvements, discoveries or information relating to the business of the Company and
its subsidiaries, including without limitation all Intellectual Property owned, controlled by or in the possession of the Company
or any of its subsidiaries. To the knowledge of the Company, there is no unauthorized use, infringement or misappropriation of
any of the Intellectual Property by any third party, employee or former employee. Each agreement and instrument (each, a “License
Agreement”) pursuant to which any Intellectual Property is licensed to the Company or any of its subsidiaries is in
full force and effect, has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company
or the applicable subsidiary, as the case may be, enforceable against the Company or such subsidiary in accordance with its terms,
except as enforcement thereof may be subject to bankruptcy, insolvency or other similar laws relating to or affecting creditors’
rights generally or by general equitable principles; the Company and its subsidiaries are in compliance with their respective
obligations under all License Agreements and, to the knowledge of the Company, all other parties to any of the License Agreements
are in compliance with all of their respective obligations thereunder; no event or condition has occurred or exists that gives
or would give any party to any License Agreement the right, either immediately or with notice or passage of time or both, to terminate
or limit (in whole or in part) any such License Agreement or any rights of the Company or any of its subsidiaries thereunder,
to exercise any of such party’s remedies thereunder, or to take any action that would adversely affect any rights of the
Company or any of its subsidiaries thereunder or that might have a Material Adverse Effect and the Company is not aware of any
facts or circumstances that would result in any of the foregoing or give any party to any License Agreement any such right; and
neither the Company nor any of its subsidiaries has received any notice of default, breach or non-compliance under any License
Agreement.

 

(cc) Except
as described in any Preliminary Prospectus, the Prospectus and the Registration Statement, the Company: (i) is and at all times
has been in full compliance with all statutes, rules, regulations or guidance applicable to the ownership, testing, development,
manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import,
export or disposal of any product manufactured, distributed or sold by the Company or any component thereof (such statutes, rules,
regulations or guidance, collectively, “Applicable Laws”); (ii) has not received any notice of adverse finding,
warning letter, untitled letter or other correspondence or notice from any Governmental Authority alleging or asserting noncompliance
with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments
thereto required by any such Applicable Laws (“Authorizations”); (iii) possesses all Authorizations and such
Authorizations are valid and in full force and effect and are not in violation of any term of any such Authorizations; (iv) has
not received notice of any claim, suit, proceeding, hearing, enforcement, audit, investigation, arbitration or other action from
any Governmental Authority or third party alleging that any product operation or activity is in violation of any Applicable Laws
or Authorizations and has no knowledge that any such Governmental Authority or third party is considering any such claim, suit,
proceeding, hearing, enforcement, audit, investigation, arbitration or other action; (v) has not received notice that any Governmental
Authority has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge
that any such Governmental Authority is considering such action; (vi) has filed, obtained, maintained or submitted all material
reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any
Applicable Laws or Authorizations and that all such material reports, documents, forms, notices, applications, records, claims,
submissions and supplements or amendments were complete and correct in all material respects on the date filed (or were corrected
or supplemented by a subsequent submission), except, in the case of each of clauses (i), (ii) and (iii), for any default, violation
or event that would not, individually or in the aggregate, have or reasonably be expected to have a Material Adverse Effect.

 

    	 	 12	 

    	 

    

 

(dd) Neither
the Company nor, to the Company’s knowledge, any of the Company’s directors, officers or employees has violated: (i)
the Bank Secrecy Act, as amended, (ii) the Money Laundering Control Act of 1986, as amended, (iii) the Foreign Corrupt Practices
Act, or (iv) the Uniting and Strengthening of America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
(USA PATRIOT ACT) Act of 2001, and/or the rules and regulations promulgated under any such law, or any successor law, except for
such violations which, singly or in the aggregate, would not have a Material Adverse Effect.

 

(ee) Neither
the Company nor any of its Affiliates has, prior to the date hereof, made any offer or sale of any securities which are required
to be “integrated” pursuant to the Securities Act with the offer and sale of the Rights Shares pursuant to the Registration
Statement.

 

(ff) Except
as described in the Registration Statement and the Prospectus, there are no claims, payments, arrangements, agreements or understandings
relating to the payment of a finder’s, consulting or origination fee or other compensation by the Company with respect to
the issuance or exercise of the Rights or the sale of the Rights Shares or any other arrangements, agreements or understandings
of the Company or, to the Company’s knowledge, the Company’s officers, directors and employees or Affiliates that
may affect the Dealer-Manager’s compensation, as determined by the Financial Industry Regulatory Authority, Inc. (“FINRA”).
Except as previously disclosed by the Company to the Dealer-Manager in writing, no officer, director, or beneficial owner of 5%
or more of any class of the Company’s securities (whether debt or equity, registered or unregistered, regardless of the
time acquired or the source from which derived) or any other Affiliate is a member or a Person associated, or affiliated with
a member of FINRA. No proceeds from the exercise of the Rights will be paid to any FINRA member, or any Persons associated or
affiliated with a member of FINRA, except as specifically contemplated herein. Except as previously disclosed by the Company to
the Dealer-Manager, to the Company’s knowledge, no Person to whom securities of the Company have been privately issued within
the 180-day period prior to the initial filing date of the Registration Statement has any relationship or affiliation or association
with any member of FINRA.

 

    	 	 13	 

    	 

    

 

(gg) 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 the Dealer-Manager for a brokerage commission, finder’s fee or other like payment in connection with the
transactions contemplated by this Agreement. Other than the Dealer-Manager, the Company has not employed any brokers, dealers
or underwriters in connection with solicitation of exercise of Rights in the Rights Offering, and except provided for in Sections
6 and 7 hereof, no other commissions, fees or discounts will be paid by the Company in connection with solicitation of the exercise
of Rights in the Rights Offering.

 

(hh) Neither
the Company nor, to the Company’s knowledge, any of the Company’s officers, directors, employees or agents has at
any time during the last five (5) years: (i) made any unlawful contribution to any candidate for foreign office, or failed to
disclose fully any contribution in violation of law, or (ii) made any payment to any federal or state governmental officer or
official, or other Person charged with similar public or quasi-public duties, other than payments that are not prohibited by the
laws of the United States of any jurisdiction thereof.

 

(ii) The
Company has not and will not, directly or indirectly through any officer, director or Affiliate of the Company or through any
other Person: (i) taken any action designed to cause or to result in, or that has constituted or which might reasonably be expected
to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the issuance of the
Rights or the sale or resale of the Rights Shares, (ii) since the filing of the Registration Statement sold, bid for or purchased,
or paid any Person (other than the Dealer-Manager) any compensation for soliciting exercises or purchases of, the Rights or the
Rights Shares and (iii) until the later of the expiration of the Rights or the completion of the distribution (within the meaning
of Regulation M under the Exchange Act) of the Rights Shares, sell, bid for or purchase, apply or agree to pay to any Person (other
than the Dealer-Manager) any compensation for soliciting another to purchase any other securities of the Company (except for the
solicitation of the exercises of Rights pursuant to this Agreement). The foregoing shall not apply to the offer, sale, agreement
to sell or delivery with respect to: (i) Rights Shares offered and sold upon exercise of the Rights, as described in the Prospectus,
or (ii) any shares of Common Stock sold pursuant to the Company’s employee benefit plans.

 

(jj) Each
“forward-looking statement” (within the meaning of Section 27A of the Securities Act or Section 21E of the
Exchange Act) included in the Registration Statement and the Prospectus has been made or reaffirmed with a reasonable basis and
has been disclosed in good faith.

 

    	 	 14	 

    	 

    

 

As
used in this Agreement, references to matters being “material” with respect to the Company or any matter relating
to the Company shall mean a material item, event, change, condition, status or effect related to the condition (financial or otherwise),
properties, assets (including intangible assets), liabilities, business, prospects (as such prospects are disclosed or described
in any Preliminary Prospectus or the Prospectus), operations or results of operations of the Company and its Subsidiaries, taken
as a whole.

 

As
used in this Agreement, the term “knowledge of the Company” (or similar language) shall mean the knowledge
of the officers of the Company who are named in the Prospectus, with the assumption that such officers shall have made reasonable
and diligent inquiry of the matters presented (with reference to what is customary and prudent for the applicable individuals
in connection with the discharge by the applicable individuals of their duties as officers or directors of the Company).

 

6. Compensation.
In consideration for its services in the Rights Offering, the Dealer-Manager shall receive a cash fee equal to 8% of the dollar
amount received by the Company from any cash exercise of the Rights issued to investors in the Rights Offering, as a 6% commission,
which commission shall not exceed $6,000,000 in the aggregate, and 1.8% non-accountable expense fee, which non-accountable expense
fee shall not exceed $1,800,000 in the aggregate, as well as an out-of-pocket accountable expense allowance of 0.2%, which accountable
expense allowance shall not exceed $200,000 in the aggregate, provided that, the Company has previously paid the Dealer-Manager
a $10,000 advance against such out-of-pocket accountable expense allowance (the “Advance”). If the Rights Offering
is not consummated, the portion of the Advance not used for the Dealer-Manager’s actual out-of-pocket expenses shall be
promptly reimbursed to the Company as required under FINRA Rule 5110(f)(2)(D). For any unsubscribed Rights Shares placed by the
Dealer-Manager after the conclusion of the Rights Offering, the Dealer-Manager shall receive a placement fee equal to 6%, in lieu
of the dealer-manager fee, along with continuing non-accountable and accountable expense allowances of 1.8% and 0.2%, respectively,
with such placement fee and expenses to be calculated in respect of the total gross proceeds paid to and received by the Company
for subscriptions accepted by the Company from investors in connection with such placement and such placement fee and expenses
not to exceed the aggregate amounts that would have been otherwise received by the Dealer-Manager if the Rights Offering were
fully subscribed. Neither the placement fee or expense allowances in connection with the placement of shares by the Dealer-Manager
shall be payable with respect to any securities purchased as result of the exercise of any Basic Subscription Right or Over-Subscription
Right. All payments to be made by the Company pursuant to this Section 6 shall be made, with respect to the Rights Offering, on
the date of the consummation of the subscriptions for Rights Shares pursuant to the exercise of Rights (the “Closing
Date”) or, with respect to the post-Rights Offering placement of Rights Shares by the Dealer-Manager, at the conclusion
of such placement, by wire transfer of immediately available funds.

 

7. Expenses.
In addition to the Dealer-Manager’s compensation for services hereunder pursuant to Section 6 hereof, the Company shall
pay or cause to be paid:

 

    	 	 15	 

    	 

    

 

(a) all
expenses (including any taxes) incurred by the Company in connection with the Rights Offering and the preparation, issuance, execution,
authentication and delivery of the Rights and the Rights Shares;

 

(b) all
fees, expenses and disbursements of the Company’s accountants, legal counsel and other third party advisors;

 

(c) all
reasonable and documented costs and expenses of the Dealer-Manager as set forth in the Engagement Letter and Section 6 above and
reimbursable upon any termination of this Agreement only as permitted by FINRA Rule 5110(f)(2)(D);

 

(d) all
fees and expenses of the Subscription Agent and the Information Agent;

 

(e) all
fees, expenses and disbursements (including, without limitation, fees and expenses of the Company’s accountants and counsel)
in connection with the preparation, printing, filing, delivery and shipping of the Registration Statement (including the financial
statements therein and all amendments and exhibits thereto), each Preliminary Prospectus, the Prospectus, the other Offer Documents
and any amendments or supplements of the foregoing and any printing, delivery and shipping of this Agreement, the costs of distributing
the terms of any agreement relating to any organization of soliciting dealers, if any, to the members thereof by mail, fax or
other means of communications;

 

(f) all
reasonable fees, expenses and disbursements relating to the registration or qualification of the Rights and Rights Shares under
the “blue sky” securities laws of any states or other jurisdictions and all fees and expenses associated with the
preparation of the preliminary and final forms of Blue Sky Memoranda;

 

(g) all
filing fees of the Commission;

 

(h) all
filing fees relating to the review of the Rights Offering by FINRA;

 

(i) any
applicable listing or other fees;

 

(j) the
cost of printing certificates representing the Rights and Rights Shares;

 

(k) all
advertising charges pertaining to the Rights Offering that have been pre-approved by the Company in writing;

 

(l) the
cost and charges of the Company’s transfer agent(s) or registrar(s); and

 

(m) all
other costs and expenses incident to the performance of the Company’s obligations hereunder for which provision is not otherwise
made in this Section.

 

(n) All
payments to be made by the Company pursuant to this Section 7 shall be made promptly after the termination or expiration of the
Rights Offering or, if later, promptly after the related fees, expenses or charges accrue and an invoice therefor is sent by the
Dealer-Manager. The Company shall perform its obligations set forth in this Section 7 whether or not the Rights Offering commences
or any Rights are exercised pursuant to the Rights Offering, except that the Dealer-Manager’s non-accountable expenses may
only be reimbursed upon Closing. For the avoidance of doubt, except as reimbursed pursuant to the non-accountable expense fee,
the Dealer-Manager shall be responsible for expenses it incurs with respect to the performance of its obligations under this Agreement,
including without limitation expenses it incurs with respect to travel and lodging expenses in connection with “road show”
trips and legal counsel and other third parties engaged by the Dealer-Manager.

 

    	 	 16	 

    	 

    

 

8. Shareholder
Lists; Subscription Agent; Information Agent.

 

(a) The
Company will cause the Dealer-Manager to be provided with any cards or lists showing the names and addresses of, and the number
of shares of Common Stock held by, the holders of shares of Common Stock as of a recent date and will use its best efforts to
cause the Dealer-Manager to be advised from time to time during the period, as the Dealer-Manager shall request, of the Rights
Offering as to any transfers of record of shares of Common Stock.

 

(b) The
Company (i) has arranged for the Subscription Agent to serve as subscription agent in connection with the Rights Offering, (ii)
will arrange for the Subscription Agent to advise the Dealer-Manager regularly as to such matters as the Dealer-Manager may reasonably
request, including the number of Rights that have been exercised, and (iii) will arrange for the Subscription Agent to be responsible
for receiving subscription funds paid.

 

(c) The
Company has arranged for Georgeson LLC to serve as information agent in connection with the Rights Offering (the “Information
Agent” and, together with the Subscription Agent, the “Agents”) and to perform services in connection
with the Rights Offering that are customary for an information agent.

 

9. Covenants
of the Company. The Company covenants and agrees with the Dealer-Manager:

 

(a) To
use its best efforts to cause the Registration Statement and any amendments thereto to become effective; to advise the Dealer-Manager,
promptly after it receives notice thereof, of the time when the Registration Statement, or any amendment thereto, becomes effective
or any supplement to the Prospectus or any amended Prospectus has been filed and to furnish the Dealer-Manager with copies thereof;
to prepare a Prospectus in a form approved by the Dealer-Manager (such approval not to be unreasonably withheld or delayed) and
to file such Prospectus pursuant to Rule 424(b) under the Securities Act within the time prescribed by such rule; to advise the
Dealer-Manager, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order
preventing or suspending the use of any Preliminary Prospectus or the Prospectus, of the suspension of the qualification of the
Rights for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of
any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional
information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary
Prospectus or the Prospectus or suspending any such qualification, to use promptly its reasonable best efforts to obtain its withdrawal.

 

    	 	 17	 

    	 

    

 

(b) To
deliver promptly to the Dealer-Manager, at any such location as requested by the Dealer-Manager, such number of the following
documents as the Dealer-Manager shall reasonably request: (i) conformed copies of the Registration Statement as originally filed
with the Commission and each amendment thereto (in each case excluding exhibits other than this Agreement, any other Offer Documents
filed as exhibits, the computation of the ratio of earnings to fixed charges and the computation of per share earnings), (ii)
each Preliminary Prospectus, the Prospectus and any amended or supplemented Prospectus and (iii) any document incorporated by
reference in the Prospectus (excluding exhibits thereto); and, if the delivery of a prospectus is required at any time during
which the Prospectus relating to the Rights or Rights Shares is required to be delivered under the Securities Act and if at such
time any events shall have occurred as a result of which the Prospectus as then amended or supplemented would include any untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made when such Prospectus is delivered, not misleading, or, if for any other reason
it shall be necessary during such period to amend or supplement the Prospectus or to file under the Exchange Act any document
incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, to notify the Dealer-Manager
and, upon its request, to file such document and to prepare and furnish without charge to the Dealer-Manager as many copies as
the Dealer-Manager may from time to time reasonably request of an amended or supplemented Prospectus which will correct such statement
or omission or effect such compliance.

 

(c) To
file promptly with the Commission any amendment to the Registration Statement or the Prospectus or any supplement to the Prospectus
that may, in the judgment of the Company or the Dealer-Manager, be necessary or advisable in connection with the distribution
of the Rights or the sale of the Rights Shares or be requested by the Commission.

 

(d) Prior
to filing with the Commission any: (i) Preliminary Prospectus, (ii) amendment to the Registration Statement, any document incorporated
by reference in the Prospectus or (iii) any Prospectus pursuant to Rule 424 of the Securities Act, to furnish a copy thereof to
the Dealer-Manager and counsel for the Dealer-Manager and obtain the consent of the Dealer-Manager to the filing (which consent
shall not be unreasonably withheld).

 

(e) To
furnish to the Dealer-Manager copies of all materials not available via EDGAR furnished by the Company to its shareholders and
all public reports and all reports and financial statements furnished by the Company to the principal national securities exchange
upon which any of the Company’s securities may be listed pursuant to requirements of or agreements with such exchange or
to the Commission pursuant to the Exchange Act or any rule or regulation of the Commission thereunder.

 

(f) To
qualify or register the Rights and Rights Shares for sale under (or obtain exemptions from the application of) the state securities
or blue sky laws of those jurisdictions designated by the Dealer-Manager, shall comply with such laws and shall continue such
qualifications, registrations and exemptions in effect so long as required for the distribution of the Rights and Rights Shares.
The Company shall not be required to qualify as a foreign corporation or to take any action that would subject it to general service
of process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as a foreign
corporation. The Company will advise the Dealer-Manager promptly of the suspension of the qualification or registration of (or
any such exemption relating to) the Rights and Rights Shares for offering, sale or trading in any jurisdiction or any initiation
or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification,
registration or exemption, the Company shall use its best efforts to obtain the withdrawal thereof at the earliest possible moment.

 

    	 	 18	 

    	 

    

 

(g) To
apply the net proceeds from the exercise of the Rights in the manner described under the caption “Use of Proceeds”
in the Prospectus.

 

(h) Prior
to the effective date of the Registration Statement, to notify FINRA and the OTCQX Marketplace regarding the Rights Offering.

 

(i) To
take such steps as shall be necessary to ensure that neither the Company nor any Subsidiary shall become an “investment
company” within the meaning of such term under the Investment Company Act of 1940 and the rules and regulations of the Commission
thereunder.

 

(j) To
advise the Dealer-Manager, directly or through the Subscription Agent, from time to time, as the Dealer-Manager shall request,
of the number of Rights Shares subscribed for, and arrange for the Subscription Agent to furnish the Dealer-Manager with copies
of written reports it furnishes to the Company concerning the Rights Offering.

 

(k) To
commence mailing the Offer Documents to record holders of the Common Stock not later than the second business day following the
record date for the Rights Offering, and complete such mailing as soon as practicable.

 

(l) To
reserve and keep available for issue upon the exercise of the Rights such number of authorized but unissued shares of Rights Shares
as will be sufficient to permit the exercise in full of all Rights, except as otherwise contemplated by the Prospectus.

 

(m) To
not take, directly or indirectly, any action designed to cause or to result in, or that has constituted or which might reasonably
be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the issuance
of the Rights or the sale or resale of the Rights Shares.

 

10. Conditions
of Dealer-Manager’s Obligations. The obligations of the Dealer-Manager hereunder are subject to (and the occurrence
of any Closing shall be conditioned upon) the accuracy, as of the date hereof and at all times during the Rights Offering, of
the representations and warranties of the Company contained herein, to the performance by the Company of its obligations hereunder
and to the following additional conditions:

 

    	 	 19	 

    	 

    

 

(a) (i)
The Registration Statement shall have become effective and the Prospectus shall have been timely filed with the Commission in
accordance with the Securities Act; (ii) all post-effective amendments to the Registration Statement shall have become effective;
(iii) no stop order suspending the effectiveness of the Registration Statement or any amendment or supplement thereto shall have
been issued and no proceedings for the issuance of any such order shall have been initiated or threatened, and (iv) any request
of the Commission for additional information (to be included in the Registration Statement or the Prospectus or otherwise) shall
have been disclosed to the Dealer-Manager and complied with to the Dealer-Manager’s reasonable satisfaction.

 

(b) The
Dealer-Manager shall not have been advised by the Company or shall have discovered and disclosed to the Company that the Registration
Statement or the Prospectus or any amendment or supplement thereto, contains an untrue statement of fact which in the Dealer-Manager’s
opinion, or in the opinion of counsel to the Dealer-Manager, is material, or omits to state a fact which, in the Dealer-Manager’s
opinion, or in the opinion of counsel to the Dealer-Manager, is material and is required to be stated therein or is necessary
to make the statements therein not misleading.

 

(c) All
corporate proceedings and other legal matters incident to the authorization, form and validity of this Agreement, the Rights,
the Rights Shares the Registration Statement and the Prospectus, and all other legal matters relating to this Agreement and the
transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Dealer-Manager,
and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable
them to pass upon such matters.

 

(d) On
the Closing Date, there shall have been furnished to the Dealer-Manager the signed opinion (addressed to the Dealer-Manager) of
Legal & Compliance, LLC, counsel for the Company, dated as of the Closing Date and in form and substance satisfactory to counsel
for the Dealer-Manager, to the effect of the opinions set forth on Exhibit A hereto.

 

(e) The
Company shall have furnished to the Dealer-Manager a certificate, dated as of the Closing Date, of its Chief Executive Officer
or President and its Chief Financial Officer stating that:

 

	 	i.	To
    the best of their knowledge after reasonable investigation, the representations, warranties, covenants and agreements of the
    Company hereof are true and correct in all material respects;
	 	 	 
	 	ii.	The
    conditions set forth in this Agreement have been fulfilled;
	 	 	 
	 	iii.	Neither
    the Company nor any of its Subsidiaries has sustained any material loss or interference with its business, whether or not
    covered by insurance, or from any labor dispute or any legal or governmental proceeding;
	 	 	 
	 	iv.	Subsequent
    to the respective dates as of which information is given in the Registration Statement and the Prospectus, there has not been
    any Material Adverse Change or any development involving a prospective Material Adverse Change; and
	 	 	 
	 	v.	They
    have carefully examined the Registration Statement and the Prospectus and, in their opinion (A) the Registration Statement
    and the Prospectus, as of the Effective Date, did not include any untrue statement of a material fact and did not omit to
    state any material fact required to be stated therein or necessary to make the statements therein not misleading, and (B)
    since the Effective Date no event has occurred which should have been set forth in a supplement or amendment to the Registration
    Statement or the Prospectus.

 

    	 	 20	 

    	 

    

 

(f) Neither
the Company nor any of its Subsidiaries shall have sustained since the date of the latest audited financial statements included
in the Prospectus any Material Adverse Change, the effect of which is, in the judgment of the Dealer-Manager, so material and
adverse as to make it impracticable or inadvisable to proceed with the Rights Offering.

 

(g) Neither
FINRA nor the OTCQX Marketplace shall have objected to the Rights Offering.

 

(h) All
opinions, letters, evidence and certificates mentioned above or elsewhere in this Agreement shall be deemed to be in compliance
with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Dealer-Manager. If
any of the conditions specified in this Section 10 shall not have been fulfilled when and as required by this Agreement, this
Agreement and all obligations of the Dealer-Manager hereunder may be canceled at, or at any time during the Rights Offering, by
the Dealer-Manager. Any such cancellation shall be without liability of the Dealer-Manager to the Company. Notice of such cancellation
shall be given the Company in writing, or by telegraph or telephone and confirmed in writing.

 

11. Indemnification
and Contribution.

 

(a) The
Company agrees to indemnify and hold harmless the Dealer-Manager and its affiliates and any officer, director, employee or agent
of Source or any such affiliates and any Person controlling (within the meaning of Section 20(a) of the Exchange Act) the Dealer-Manager
or any of such affiliates (collectively, the “Indemnified Parties”) from and against any and all losses, claims,
damages, liabilities and expenses whatsoever, under the Securities Act or otherwise (as incurred or suffered and including, but
not limited to, any and all legal or other expenses incurred in connection with investigating, preparing to defend or defending
any lawsuit, claim or other proceeding, commenced or threatened, whether or not resulting in any liability, which legal or other
expenses shall be reimbursed by the Company promptly after receipt of any invoices therefore from the Dealer-Manager), (A) arising
out of or based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in the Offer Documents
or any amendment or supplement thereto, in any other solicitation material used by the Company or authorized by it for use in
connection with the Rights Offering, or in any blue sky application or other document prepared or executed by the Company (or
based on any written information furnished by the Company) specifically for the purpose of qualifying any or all of the Rights
or the Rights Shares under the securities laws of any state or other jurisdiction (any such application, document or information
being hereinafter called a “Blue Sky Application”) or arising out of or based upon the omission or alleged
omission to state in any such document a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading (other than statements or omissions made
in reliance upon and in conformity with the Dealer-Manager Information), (ii) any withdrawal or termination by the Company of,
or failure by the Company to make or consummate, the Rights Offering, (iii) any actions taken or omitted to be taken by an Indemnified
Party with the consent of the Company or in conformity with actions taken or omitted to be taken by the Company or (iv) any failure
by the Company to comply with any agreement or covenant, contained in this Agreement or (B) arising out of, relating to or in
connection with or alleged to arise out of, relate to or be in connection with, the Rights Offering, any of the other transactions
contemplated thereby or the performance of Source’s services to the Company with respect to the Rights Offering; provided,
however, that in the case of clause (B) only, the Company shall not be responsible for any liabilities or expenses of any Indemnified
Party that have resulted primarily from such Indemnified Party’s (x) gross negligence, bad faith or willful misconduct in
connection with any of the advice, actions, inactions or services referred to herein or (y) use of any Offering materials or information
concerning the Company in connection with the Offer that were not authorized for such use by the Company and which use constitutes
negligence, bad faith or willful misconduct.

 

    	 	 21	 

    	 

    

 

(b) If
the indemnification provided for in the foregoing paragraph is judicially determined to be unavailable (other than in accordance
with the terms hereof) to any Indemnified Party otherwise entitled to indemnity in respect of any losses, claims, damages or liabilities
referred to herein, then, in lieu of indemnifying such person hereunder, whether or not the Dealer-Manager is the person entitled
to indemnification or reimbursement, the Company shall contribute to the amount paid or payable by the Indemnified Party as a
result of such losses, claims, damages or liabilities (and expenses relating thereto) (i) in such proportion as is appropriate
to reflect the relative benefits to the Company, on the one hand, and the Dealer-Manager, on the other hand, of the Rights Offering
or (ii) if the allocation provided for in clause (i) above is not available, in such proportion as is appropriate to reflect not
only the relative benefits referred to in such clause (i) but also the relative fault of each of the Company and the Dealer-Manager,
as well as any other relevant equitable considerations; provided, however, in no event shall the Dealer-Manager’s
aggregate contribution to the amount paid or payable exceed the aggregate amount of fees actually received by the Dealer-Manger
under this Agreement. For the purposes of this Agreement, the relative benefits to the Company and to the Dealer-Manager of the
engagement shall be deemed to be in the same proportion as (a) the total value paid or contemplated to be paid or received or
contemplated to be received by the Company in the Rights Offering, whether or not the Rights Offering is consummated, bears to
(b) the fees paid or to be paid to the Dealer-Manager under this Agreement.

 

(c) The
Company also agrees that neither the Dealer-Manager, nor any other Indemnified Party, shall have any liability to the Company
for or in connection with the Dealer-Manager’s engagement as Dealer-Manager. The foregoing agreement shall be in addition
to any rights that the Dealer-Manager, the Company or any Indemnified Party may have at common law or otherwise, including, but
not limited to, any right to contribution. For the sole purpose of enforcing and otherwise giving effect to the provisions of
this Agreement, the Company hereby consents to personal jurisdiction and service and venue in any court in which any claim which
is subject to this agreement is brought against the Dealer-Manager or any other indemnified party.

 

(d) The
Company agrees that it will not, without the prior written consent of the Dealer-Manager, settle or compromise or consent to the
entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification
or contribution may be sought hereunder (whether or not the Dealer-Manager is an actual or potential party to such claim, action,
suit or proceeding) unless such settlement, compromise or consent includes an unconditional release, reasonably satisfactory in
form and substance to the Dealer-Manager, releasing the Dealer-Manager from all liability arising out of such claim, action, suit
or proceeding.

 

    	 	 22	 

    	 

    

 

(e) The
Company agrees to reimburse each Indemnified Party for all expenses as they are incurred in connection with enforcing such Indemnified
Party’s rights hereunder.

 

12. Effective
Date of Agreement; Termination.

 

(a) This
Agreement shall become effective upon the later of the time on which the Dealer-Manager shall have received notification of the
effectiveness of the Registration Statement and the time which this Agreement shall have been executed by all of the parties hereto.

 

(b) This
Agreement shall terminate upon the earliest to occur of (a) the consummation, termination or withdrawal of the Rights Offering,
and (b) the withdrawal by the Dealer-Manager pursuant to Section 4.

 

13. Survival
of Certain Provisions. The agreements contained in Sections 3, 6, 7 and 13 through 21 hereof and the representations, warranties
and agreements of the Company contained in Section 5 hereof shall survive the consummation of or failure to commence the Rights
Offering and shall remain in full force and effect, regardless of any termination or cancellation of this Agreement or any investigation
made by or on behalf of any indemnified party; provided, that the Company’s obligations under Section 7 to reimburse the
Dealer-Manager for accountable expenses are subject to FINRA Rule 5110 (f)(2)(D) in that such expenses are only reimbursable to
the extent actually incurred and only if the Offering actually closes.

 

14. Notices.
All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed
to have been duly given if (a) delivered personally, (b) sent by facsimile with immediate telephonic confirmation or (c) sent
by registered or certified mail, return receipt requested, postage prepaid, to the parties hereto as follows

 

If
to the Dealer-Manager:

 

Source
Capital Group, Inc.

276
Post Road West

Westport,
CT 06880

Attention:
Mr. Richard H. Kreger, Snr. Managing Director, Investment Banking

Email:
rkreger@sourcegrp.com

 

With
a copy to:

 

Olshan
Frome Wolosky LLP

1325
Avenue of the Americas

New
York, NY 10019

Attention:
Spencer G. Feldman, Esq.

Email:
sfeldman@olshanlaw.com

Facsimile:
(212) 451-2222

 

If
to the Company:

 

IEG
Holdings Corporation

6160
West Tropicana Avenue, Suite E-13

Las
Vegas, NV 89103

Attention:
Paul Mathieson, Chief Executive Officer

Email:
paulm@investmentevolution.com

Facsimile:
(702) 227-5221

 

With
a copy to:

 

Legal
& Compliance, LLC

330
Clematis Street, Suite 217

West
Palm Beach, FL 33401 

Attention:
Laura Anthony, Esq.

Email:
lanthony@legalandcompliance.com

Facsimile:
(561) 514-0832

 

    	 	 23	 

    	 

    

 

15. Parties.
This Agreement shall inure to the benefit of and be binding upon the Dealer-Manager, the Company and their respective successors.
This Agreement and the terms and provisions hereof are for the sole benefit of only those Persons, except that the representations,
warranties, indemnities and agreements of the Company contained in this Agreement shall also be deemed to be for the benefit of
the Person or Persons, if any, who control the Dealer-Manager within the meaning of Section 15 of the Act. Nothing in this Agreement
shall be construed to give any Person, other than the Persons referred to in this Section, any legal or equitable right, remedy
or claim under or in respect of this Agreement or any provision contained herein.

 

16. Amendment.
This Agreement may not be amended or modified except in writing signed by each of the parties hereto.

 

17. Governing
Law; Venue. This Agreement shall be deemed to have been executed and delivered in New York and both this Agreement and the
transactions contemplated hereby shall be governed as to validity, interpretation, construction, effect, and in all other respects
by the laws of the State of New York, without regard to the conflicts of laws principals thereof (other than Section 5-1401 of
The New York General Obligations Law). Each of the Dealer-Manager and the Company: (a) agrees that any legal suit, action or proceeding
arising out of or relating to this Agreement and/or the transactions contemplated hereby shall be instituted exclusively in the
Supreme Court of the State of New York, New York County, or in the United States District Court for the Southern District of New
York, (b) waives any objection which it may have or hereafter to the venue of any such suit, action or proceeding, and (c) irrevocably
consents to the jurisdiction of Supreme Court of the State of New York, New York County, or in the United States District Court
for the Southern District of New York in any such suit, action or proceeding. Each of the Dealer-Manager and the Company further
agrees to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in
the Supreme Court of the State of New York, New York County, or in the United States District Court for the Southern District
of New York and agrees that service of process upon the Company mailed by certified mail to the Company’s address or delivered
by Federal Express via overnight delivery shall be deemed in every respect effective service of process upon the Company, in any
such suit, action or proceeding, and service of process upon the underwriters mailed by certified mail to the Dealer-Manager’s
address or delivered by Federal Express via overnight delivery shall be deemed in every respect effective service process upon
the Dealer-Manager, in any such suit, action or proceeding. THE COMPANY (ON BEHALF OF ITSELF AND, TO THE FULLEST EXTENT PERMITTED
BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
THE REGISTRATION STATEMENT, ANY PRELIMINARY PROSPECTUS AND THE PROSPECTUS.

 

18. Entire
Agreement. This Agreement, together with the exhibit attached hereto and as the same may be amended from time to time in accordance
with the terms hereof, contains the entire agreement among the parties hereto relating to the subject matter hereof and there
are no other or further agreements outstanding not specifically mentioned herein. Notwithstanding anything herein to the contrary,
the Engagement Letter shall continue to be effective and the term therein shall continue to survive and be enforceable by the
parties thereto, in accordance with its terms.

 

19. Severability.
If any term or provision of this Agreement or the performance thereof shall be invalid or unenforceable to any extent, such invalidity
or unenforceability shall not affect or render invalid or unenforceable any other provision of this Agreement and this Agreement
shall be valid and enforced to the fullest extent permitted by law.

 

20. Headings.
The headings herein are inserted for convenience of reference only and are not intended to be part of, or to affect the meaning
or interpretation of, this Agreement.

 

21. Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or other
electronic transmission shall constitute valid and sufficient delivery thereof. If the foregoing correctly sets forth your understanding,
please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement among
us.

 

    	 	 24	 

    	 

    

 

	 	Very truly yours,
	 	 	 
	 	IEG HOLDINGS CORPORATION
	 	 	 
	 	By:	
	 	Name:	Paul
    Mathieson
	 	Title:	Chief
    Executive Officer

 

Accepted
and agreed as of the date first written above:

 

	SOURCE CAPITAL GROUP, INC.	 
	 	 	 
	By:		 
	Name:
    	Richard
    H. Kreger	 
	Title:
    	Snr.
    Managing Director, Investment Banking	 
	 	 	 
	By:		 
	Name:	Russell
    Newton	 
	Title:	Chief
    Financial Officer	 

 

[Signature
Page to Dealer-Manager Agreement]

 

    	 	 25	 

    	 

    

EXHIBIT
A

 

	1.	The
    Company is incorporated and is validly existing as a corporation in good standing under the laws of the State of Florida,
    with corporate power and authority to own, lease and operate its properties and conduct its business as described in the Registration
    Statement, the Offer Documents and the Prospectus and to enter into and perform its obligations under the Dealer-Manager Agreement
    and the Rights.
	 	 
	2.	The
    Company’s authorized capital consists of 200,000,000 shares of common stock, $0.001 par value per share, and 50,000,000
    shares of preferred stock, $0.001 par value per share.
	 	 
	3.	The
    Rights and Rights Shares to be issued and sold by the Company pursuant to the Registration Statement have been duly and validly
    authorized and, when issued and delivered to and paid for, will be duly and validly issued and fully paid and nonassessable
    and will conform to the descriptions thereof contained in the Registration Statement, the Offer Documents and the Prospectus;
    and the issuance of such Rights and Rights Shares is not subject to any preemptive or similar rights.
	 	 
	4.	The
    Dealer-Manager Agreement has been duly authorized, executed and delivered by the Company and the Company has all the requisite
    corporate power and authority to enter into the Dealer-Manager Agreement and to perform their obligations thereunder.
	 	 
	5.	The
    issue and sale of the Rights and Rights Shares to be sold by the Company pursuant to the Registration Statement, the execution
    of the Dealer-Manager Agreement by the Company and the compliance by the Company with all of the provisions of the Dealer-Manager
    Agreement and the consummation of the transactions therein contemplated will not conflict with or result in a breach or violation
    of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement
    or other agreement or instrument, included as an exhibit to the Registration Statement or as an exhibit to any other registration
    statement or report filed by the Company with the Commission, 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 property or assets of the Company or any of
    the Subsidiaries is subject, nor will such action result in any violation of the provisions of the certificate or articles
    of incorporation or by-laws (or other organizational documents) of the Company or any of its subsidiaries or, to our knowledge,
    result in any violation of any statute or any order, rule or regulation of any court or governmental agency or body having
    jurisdiction over the Company or any of its subsidiaries or any of their properties; and, to our knowledge, no consent, approval,
    authorization, order, registration or qualification of or with any such court or governmental agency or body is required for
    the issue and sale of the Rights and Rights Shares to be sold by the Company pursuant to the Registration Statement or the
    consummation by the Company of the transactions contemplated by the Dealer-Manager Agreement, except the registration under
    the Securities Act of the Rights and Rights Shares and such consents, approvals, authorizations, registrations or qualifications
    as may be required under state securities or blue sky laws, as to which we express no opinion.

 

    	 	 26	 

    	 

    

 

	6.	Other
    than as set forth in the Registration Statement, the Offer Documents and the Prospectus, to our knowledge, there are no legal
    or governmental proceedings pending to which the Company or any of its subsidiaries is a party or of which any property of
    the Company or any of its subsidiaries is the subject which, if determined adversely to the Company or any of its subsidiaries,
    individually or in the aggregate, would have or may reasonably be expected to have a material adverse effect on the general
    affairs, business, prospects, management, financial position, shareholders’ equity or results of operations of the Company
    and its subsidiaries, considered as one enterprise, or would prevent or impair the consummation of the transactions contemplated
    by the Dealer-Manager Agreement , or which are required to be described in the Registration Statement, the Offer Documents
    and the Prospectus; and, to our knowledge, no such proceedings are threatened or contemplated by governmental authorities
    or others.
	 	 
	7.	The
    Company is not and, after giving effect to the offering and sale of the Rights and Rights Shares as contemplated herein and
    the application of the net proceeds therefrom as described in the Registration Statement, the Offer Documents and the Prospectus,
    will not be an “investment company,” as such term is defined in the Investment Company Act of 1940.
	 	 
	8.	The
    Registration Statement, including any Rule 462(b) Registration Statement, has been declared effective under the Securities
    Act; any required filing of the Prospectus pursuant to Rule 424(b) under the Securities Act has been made in the manner and
    within the time period required by Rule 424(b); all material required to be filed by the Company pursuant to Rule 433(d) under
    the Securities Act shall have been filed with the Commission within the applicable time period prescribed for such filing
    by Rule 433 under the Securities Act; and no stop order suspending the effectiveness or use of the Registration Statement,
    the Offer Documents and the Prospectus has been issued under the Securities Act and no proceedings for that purpose have been
    instituted or are pending or, to our knowledge, threatened by the Commission.
	 	 
	9.	To
    our knowledge, there are no statutes or regulations that are required to be described in the Registration Statement, the Offer
    Documents and the Prospectus that are not described as required.
	 	 
	10.	The
    Company has duly notified FINRA and the OTCQX Marketplace regarding the Rights Offering and no objection was raised by FINRA
    or the OTCQX Marketplace.
	 	 
	11.	The
    Registration Statement, the Offer Documents and the Prospectus and any further amendments and supplements thereto made by
    the Company (other than the financial statements, related schedules and other financial data therein, as to which we do not
    express an opinion), comply as to form in all material respects with the requirements of the Securities Act and the rules
    and regulations thereunder; and we do not know of any amendment to the Registration Statement, the Offer Documents and the
    Prospectus required to be filed or of any contracts or other documents of a character required to be filed as an exhibit to
    the Registration Statement or required to be described in the Registration Statement, the Offer Documents and the Prospectus
    which are not filed or described as required.

 

    	 	 27	 

    	 

    

 

	12.	The
    documents incorporated by reference in the Registration Statement, the Offer Documents and the Prospectus, or any further
    amendment or supplement thereto made by the Company (other than the financial statements and related schedules therein, as
    to which we express no opinion), when they became effective or were filed with the Commission, as the case may be, complied
    as to form in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and the
    rules and regulations of the Commission thereunder.
	 	 
	13.	To
    our knowledge, except as disclosed in the Prospectus, there are no contracts, agreements or understandings between the Company
    and any person granting such person the right to require the Company to file a registration statement under the Securities
    Act with respect to shares of Common Stock or other securities to include such shares of Common Stock or other securities
    as part of the offering contemplated hereby.

 

In
addition, although we are not passing upon and do not assume any responsibility for nor have we independently verified, the accuracy,
completeness or fairness of the statements contained in the Registration Statement, the Offer Documents and the Prospectus, in
connection with the preparation of the Registration Statement, the Offer Documents and the Prospectus, we have participated in
conferences with representatives and counsel of the Dealer-Manager and with certain officers and employees of, and counsel and
independent certified public accountants for, the Company, at which conferences the contents of the Registration Statement, the
Offer Documents and the Prospectus and related matters were discussed, and we advise the Dealer-Manager that nothing has come
to our attention that would lead us to believe that:

 

	● 	as
    of its effective date, the Registration Statement (other than the financial statements, related schedules and other financial
    data therein, as to which we do express no opinion), contained an untrue statement of a material fact required to be stated
    therein or necessary to make the statements therein not misleading,
	 	 
	●	as
    of the Effective Time, the Offer Documents (other than the financial statements, related schedules and other financial data
    therein, as to which express no opinion) contain an untrue statement of a material fact or omits to state a material fact
    necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or
    
	 	 
	●	as
    of its date or as of the applicable time of delivery, the Prospectus (other than the financial statements, related schedules
    and other financial data therein, as to which we express no opinion) contained an untrue statement of a material fact or omitted
    to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were
    made, not misleading.

 

provided,
however, that we do not assume any responsibility for the accuracy, completeness or fairness of the statements made or the information
contained in, incorporated by reference in, or omitted from, the Registration Statement, the Offer Documents or the Prospectus,
and we do not express any view or belief with respect to the financial statements and the related notes thereto or financial schedules
or other financial, statistical or accounting data or information or assessments of or reports on the effectiveness of internal
control over financial reporting included in, incorporated by reference in, or omitted from, the Registration Statement, the Offer
Documents or the Prospectus.

 

The
purpose of our engagement was not to establish or confirm factual matters set forth in the Registration Statement, the Offer Documents
or the Prospectus, and we have not undertaken any obligation to verify independently any of the factual matters set forth in the
Registration Statement, the Offer Documents or the Prospectus.

 

    	 	 28EX-4.3

 Exhibit 4.3 
  

 
  

THERMO FISHER SCIENTIFIC (FINANCE I) B.V., 

as Issuer 
 THERMO FISHER
SCIENTIFIC INC., 
 as Guarantor 

AND 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., 
 as Trustee 

INDENTURE 
 Dated as of
                     
 SENIOR
DEBT SECURITIES 
  
  

 

 Table of Contents 

 

							
	 	 	 	  	Page	 
	 ARTICLE I
	 		  			
			
		 	 DEFINITIONS
	  	 	1	  
			
	 Section 1.01
	 	 Definitions of Terms
	  	 	1	  
			
	 ARTICLE II
	 		  			
			
		 	 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES
	  	 	11	  
			
	 Section 2.01
	 	 Designation and Terms of Securities
	  	 	11	  
	 Section 2.02
	 	 Form of Securities, Guarantee and Trustee’s Certificate
	  	 	14	  
	 Section 2.03
	 	 Denominations; Provisions for Payment
	  	 	16	  
	 Section 2.04
	 	 Execution and Authentications
	  	 	17	  
	 Section 2.05
	 	 Transfer and Exchange
	  	 	18	  
	 Section 2.06
	 	 Temporary Securities
	  	 	25	  
	 Section 2.07
	 	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	26	  
	 Section 2.08
	 	 Cancellation
	  	 	26	  
	 Section 2.09
	 	 Benefits of Indenture
	  	 	27	  
	 Section 2.10
	 	 Authenticating Agent
	  	 	27	  
	 Section 2.11
	 	 Global Securities
	  	 	27	  
	 Section 2.12
	 	 CUSIP Numbers
	  	 	28	  
	 Section 2.13
	 	 Securities Denominated in Foreign Currencies
	  	 	28	  
	 Section 2.14
	 	 Wire Transfers
	  	 	28	  
	 Section 2.15
	 	 Designated Currency
	  	 	29	  
	 Section 2.16
	 	 Form of Guarantee
	  	 	29	  
			
	 ARTICLE III
	 		  			
			
		 	 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	  	 	30	  
			
	 Section 3.01
	 	 Redemption
	  	 	30	  
	 Section 3.02
	 	 Notice of Redemption
	  	 	30	  
	 Section 3.03
	 	 Payment Upon Redemption
	  	 	31	  
	 Section 3.04
	 	 Sinking Fund
	  	 	32	  
	 Section 3.05
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	32	  
	 Section 3.06
	 	 Redemption of Securities for Sinking Fund
	  	 	32	  

  
 i 

							
	 ARTICLE IV
	 		  			
			
		 	 CERTAIN COVENANTS
	  	 	33	  
			
	 Section 4.01
	 	 Payment of Principal, Premium and Interest
	  	 	33	  
	 Section 4.02
	 	 Maintenance of Office or Agency
	  	 	33	  
	 Section 4.03
	 	 Paying Agents
	  	 	33	  
	 Section 4.04
	 	 Statement by Officers as to Default
	  	 	34	  
	 Section 4.05
	 	 Appointment to Fill Vacancy in Office of Trustee
	  	 	34	  
	 Section 4.06
	 	 Existence
	  	 	34	  
	 Section 4.07
	 	 Limitations on Liens
	  	 	34	  
	 Section 4.08
	 	 Limitation on Sale/Leaseback Transactions
	  	 	36	  
	 Section 4.09
	 	 Business Activities
	  	 	37	  
			
	 ARTICLE V
	 		  			
			
		 	 SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	  	 	37	  
			
	 Section 5.01
	 	 Company to Furnish Trustee Names and Addresses of Securityholders
	  	 	37	  
	 Section 5.02
	 	 Preservation of Information; Communications with Securityholders
	  	 	37	  
	 Section 5.03
	 	 Reports by the Company
	  	 	37	  
	 Section 5.04
	 	 Reports by the Trustee
	  	 	38	  
			
	 ARTICLE VI
	 		  			
			
		 	 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	  	 	38	  
			
	 Section 6.01
	 	 Events of Default
	  	 	38	  
	 Section 6.02
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	40	  
	 Section 6.03
	 	 Application of Funds Collected
	  	 	42	  
	 Section 6.04
	 	 Limitation on Suits
	  	 	42	  
	 Section 6.05
	 	 Rights and Remedies Cumulative; Delay or Omission not Waiver
	  	 	43	  
	 Section 6.06
	 	 Control by Securityholders
	  	 	43	  
	 Section 6.07
	 	 Undertaking to Pay Costs
	  	 	44	  
	 Section 6.08
	 	 Waiver of Usury, Stay Or Extension Laws
	  	 	44	  
			
	 ARTICLE VII
	 		  			
			
		 	 CONCERNING THE TRUSTEE
	  	 	44	  
			
	 Section 7.01
	 	 Certain Duties and Responsibilities of Trustee
	  	 	44	  
	 Section 7.02
	 	 Certain Rights of Trustee
	  	 	45	  
	 Section 7.03
	 	 Trustee not Responsible for Recitals or Issuance of Securities
	  	 	47	  
	 Section 7.04
	 	 May Hold Securities
	  	 	47	  
	 Section 7.05
	 	 Funds Held in Trust
	  	 	47	  
	 Section 7.06
	 	 Compensation and Reimbursement
	  	 	47	  
	 Section 7.07
	 	 Reliance on Officer’s Certificate
	  	 	48	  
	 Section 7.08
	 	 Disqualification; Conflicting Interests
	  	 	49	  

  
 ii 

							
	 Section 7.09
	 	 Corporate Trustee Required; Eligibility
	  	 	49	  
	 Section 7.10
	 	 Resignation and Removal; Appointment of Successor
	  	 	49	  
	 Section 7.11
	 	 Acceptance of Appointment By Successor
	  	 	50	  
	 Section 7.12
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	51	  
	 Section 7.13
	 	 Preferential Collection of Claims Against the Company
	  	 	52	  
			
	 ARTICLE VIII
	 		  			
			
		 	 CONCERNING THE SECURITYHOLDERS
	  	 	52	  
			
	 Section 8.01
	 	 Evidence of Action by Securityholders
	  	 	52	  
	 Section 8.02
	 	 Proof of Execution by Securityholders
	  	 	54	  
	 Section 8.03
	 	 Who May be Deemed Owners
	  	 	54	  
	 Section 8.04
	 	 Certain Securities Owned by Company or Guarantor Disregarded
	  	 	54	  
	 Section 8.05
	 	 Actions Binding on Future Securityholders
	  	 	55	  
			
	 ARTICLE IX
	 		  			
			
		 	 SUPPLEMENTAL INDENTURES
	  	 	55	  
			
	 Section 9.01
	 	 Supplemental Indentures Without the Consent of Securityholders
	  	 	55	  
	 Section 9.02
	 	 Supplemental Indentures with Consent of Securityholders
	  	 	57	  
	 Section 9.03
	 	 Effect of Supplemental Indentures
	  	 	58	  
	 Section 9.04
	 	 Securities Affected by Supplemental Indentures
	  	 	58	  
	 Section 9.05
	 	 Execution of Supplemental Indentures
	  	 	58	  
			
	 ARTICLE X
	 		  			
			
		 	 SUCCESSOR
	  	 	59	  
			
	 Section 10.01
	 	 Consolidation, Merger and Sale of Assets
	  	 	59	  
	 Section 10.02
	 	 Successor Person Substituted
	  	 	59	  
			
	 ARTICLE XI
	 		  			
			
		 	 SATISFACTION AND DISCHARGE
	  	 	59	  
			
	 Section 11.01
	 	 Applicability of Article
	  	 	59	  
	 Section 11.02
	 	 Satisfaction and Discharge of Indenture
	  	 	59	  
	 Section 11.03
	 	 Defeasance and Discharge of Obligations; Covenant Defeasance
	  	 	60	  
	 Section 11.04
	 	 Deposited Funds to be Held in Trust
	  	 	63	  
	 Section 11.05
	 	 Payment of Funds Held by Paying Agents
	  	 	63	  
	 Section 11.06
	 	 Repayment to the Company or the Guarantor
	  	 	63	  
	 Section 11.07
	 	 Reinstatement
	  	 	64	  

  
 iii 

							
	 ARTICLE XII
	 		  			
			
		 	 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	 	64	  
			
	 Section 12.01
	 	 No Recourse
	  	 	64	  
			
	 ARTICLE XIII
	 		  			
			
		 	 MISCELLANEOUS PROVISIONS
	  	 	65	  
			
	 Section 13.01
	 	 Effect on Successors and Assigns
	  	 	65	  
	 Section 13.02
	 	 Actions by Successor
	  	 	65	  
	 Section 13.03
	 	 Notices
	  	 	65	  
	 Section 13.04
	 	 Governing Law
	  	 	66	  
	 Section 13.05
	 	 Treatment of Securities as Debt
	  	 	66	  
	 Section 13.06
	 	 Compliance Certificates and Opinions
	  	 	66	  
	 Section 13.07
	 	 Payments on Business Days
	  	 	67	  
	 Section 13.08
	 	 Conflict with Trust Indenture Act
	  	 	67	  
	 Section 13.09
	 	 Counterparts
	  	 	67	  
	 Section 13.10
	 	 Separability
	  	 	67	  
	 Section 13.11
	 	 No Adverse Interpretation of Other Agreements
	  	 	67	  
	 Section 13.12
	 	 Table of Contents, Headings, Etc.
	  	 	68	  
	 Section 13.13
	 	 Consent to Jurisdiction and Service of Process
	  	 	68	  
	 Section 13.14
	 	 Waiver of Jury Trial
	  	 	68	  
	 Section 13.15
	 	 USA Patriot Act
	  	 	68	  
	 Section 13.16
	 	 Force Majeure
	  	 	69	  
			
	 ARTICLE XIV
	 		  			
			
		 	 GUARANTEE OF SECURITIES
	  	 	69	  
			
	 Section 14.01
	 	 Guarantee
	  	 	69	  
	 Section 14.02
	 	 Consolidation, Merger, Conveyance, Transfer or Lease
	  	 	71	  
	 Section 14.03
	 	 Successor Substituted; No Waiver; Modification; Non-Impairment
	  	 	72	  
	 Section 14.04
	 	 Assumption by Guarantor
	  	 	72	  
			
	 ARTICLE XV
	 		  			
			
		 	 ADDITIONAL AMOUNTS; CERTAIN TAX PROVISIONS
	  	 	73	  
			
	 Section 15.01
	 	 Redemption Upon Changes in Withholding Taxes
	  	 	73	  
	 Section 15.02
	 	 Payment of Additional Amounts
	  	 	73	  

 EXHIBITS 
  

							
	 EXHIBIT A
	 	Form of Certificate of Transfer	  	 	A-1	  
			
	 EXHIBIT B
	 	Form of Certificate of Exchange	  	 	B-1	  
			
	 EXHIBIT C
	 	Form of Certificate from Acquiring Institutional Accredited Investor	  	 	C-1	  

  
 iv 

 Cross Reference Table * 

 

			
	 Section of Trust Indenture Act of 1939, as amended
	  	 Section of Indenture

	 310(a)
	  	7.09
	 310(b)
	  	7.08
		  	7.10(b)
	 310(c)
	  	Inapplicable
	 311(a)
	  	7.13
	 311(b)
	  	7.13
	 311(c)
	  	Inapplicable
	 312(a)
	  	5.01
		  	5.02(a)
	 312(b)
	  	5.02(b)
	 312(c)
	  	Inapplicable
	 313(a)
	  	5.04(a)
	 313(b)
	  	Inapplicable
	 313(c)
	  	Inapplicable
	 313(d)
	  	5.04(b)
	 314(a)
	  	5.03
	 314(b)
	  	Inapplicable
	 314(c)
	  	13.06(a)
	 314(d)
	  	Inapplicable
	 314(e)
	  	13.06(b)
	 314(f)
	  	Inapplicable
	 315(a)
	  	7.01(b)(1)(i)
	 315(b)
	  	6.01(e)
	 315(c)
	  	7.01(a)
	 315(d)
	  	7.01(b)(1)
	 315(e)
	  	6.07
	 316(a)
	  	6.06, 8.04
	 316(b)
	  	6.04
	 316(c)
	  	8.01
	 317(a)
	  	6.02(d)
	 317(b)
	  	4.03(b)
	 318(a)
	  	13.08

  

	*	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions. 

  
 v 

 THIS INDENTURE is dated as of
                     among THERMO FISHER SCIENTIFIC (FINANCE I) B.V., a private limited liability company (besloten vennootschap met
beperkte aansprakelijkheid) incorporated under the laws of The Netherlands, with its corporate seat (statutaire zetel) at Breda, The Netherlands, and its registered office at Takkebijsters 1, 4817 BL Breda, The Netherlands, registered
with the Dutch Trade Register of the Chamber of Commerce under number 66428319 (the “Company”), THERMO FISHER SCIENTIFIC INC., a Delaware corporation (the “Guarantor”) and THE BANK OF NEW YORK MELLON TRUST COMPANY,
N.A., a national banking association (the “Trustee”). 
 RECITALS 

A. This Indenture provides for the issuance by the Company of unsecured debt securities (the “Securities”) fully and
unconditionally guaranteed by the Guarantor, in an unlimited aggregate principal amount to be issued from time to time in one or more series, to be authenticated by the certificate of the Trustee. 

B. This Indenture is subject to the provisions of the Trust Indenture Act (as defined below) that are deemed to be incorporated into this
Indenture and shall, to the extent applicable, be governed by such provisions. 
 C. All things necessary to make this Indenture a valid and
legally binding agreement, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the
purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions of Terms. 

The terms defined in this Section 1.01 (except as in this Indenture otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01 and shall include the plural as well as the singular. All other terms used in this Indenture that are
defined in the Trust Indenture Act or that are by reference in the Trust Indenture Act defined in the Securities Act of 1933, as amended (the “Securities Act”) (except as herein otherwise expressly provided or unless the context
otherwise requires), shall have the meanings assigned to such terms in the Trust Indenture Act and in the Securities Act as in force at the date of the execution of this instrument. All accounting terms used herein and not expressly defined shall
have the meanings assigned to such terms in accordance with U.S. GAAP at the time of any computation. 
 “144A Global
Security”, with respect to any series of Securities, means one or more Global Securities, bearing the Private Placement Legend, that will be issued in an aggregate amount of denominations equal in total to the outstanding principal amount
of the Securities of such series sold in global form in reliance on Rule 144A. 

  
 1 

 “Additional Amounts” has the meaning set forth in Section 15.02. 

“Affiliate”, with respect to 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 ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Applicable Procedures”, with respect to any transfer or exchange of or for beneficial interests in any Global Security for a
series of Securities, means the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 

“Authenticating Agent” means an authenticating agent with respect to all or any of the series of Securities appointed with
respect to all or any series of the Securities by the Trustee pursuant to Section 2.10. 
 “Bankruptcy Law” means
Title 11, United States Code, or any similar federal or state law for the relief of debtors. 
 “Board of Directors” means
the Board of Directors of the Company or the Guarantor, as applicable, or any duly authorized committee of such Board of Directors. 

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

“Business Day”, with respect to any series of Securities, means any day other than Saturday, Sunday or a day on which Federal
or State banking institutions in the Borough of Manhattan, The City of New York, or in the city where the office or agency for payment on the Securities is maintained pursuant to Section 4.02, are authorized or obligated by law, executive order
or regulation to close. 
 “Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with U.S. GAAP as in effect on the date of this Indenture. 

“Capital Stock” of any Person means any and all shares, interests, participations, rights in or other equivalents (however
designated) of such Person’s capital stock, other equity interests whether now outstanding or issued after the date of this Indenture, partnership interests (whether general or limited), any other interest or participation that confers on a
Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person and any rights (other than debt securities convertible into Capital Stock), warrants or options exchangeable for or convertible into
such Capital Stock. 
 “Clearstream” means Clearstream Banking S.A., or its successors. 

  
 2 

 “Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Commission” means the Securities and Exchange Commission. 

“Company” means Thermo Fisher Scientific (Finance I) B.V., a private limited liability company incorporated under the laws of
The Netherlands, until a successor entity shall have become such pursuant to Article X, and thereafter “Company” shall mean such successor entity. 

“Company Request” means a written request or order signed in the name of the Company by its chairman of the Board, its vice
chairman of the Board, its president or a vice president, and by its treasurer, an assistant treasurer, its secretary or an assistant secretary, and delivered to the Trustee. 

“Consolidated Net Assets” means the consolidated total assets of the Guarantor and its Subsidiaries as reflected in the
Guarantor’s most recent balance sheet prepared in accordance with U.S. GAAP as in effect at the time of such determination, less (a) all current liabilities (excluding any notes and loans payable, current maturities of long-term debt, the
current portion of deferred revenue and obligations under capital leases) and (b) acquisition-related intangible assets in accordance with U.S. GAAP as in effect at the time of such determination. Consolidated Net Assets includes the goodwill
of the Guarantor and its Subsidiaries. 
 “Corporate Trust Office” means the office of the Trustee at which, at any
particular time, its corporate trust business shall be principally administered, which office at the date hereof is located at 500 Ross Street, Pittsburgh, PA 15262; Attention: Corporate Trust. 

“Currency” means Dollars or Foreign Currency. 

“Custodian” means any custodian, receiver, trustee, assignee, liquidator or other similar official under any proceedings
under any Bankruptcy Law. 
 “Default” means any event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default. 
 “Defaulted Interest” has the meaning set forth in Section 2.03. 

“Definitive Security” means a certificated Security registered in the name of the Securityholder thereof and issued in
accordance with Section 2.05. 
 “Depositary”, with respect to Securities of any series which the Company shall
determine will be issued in whole or in part as a Global Security, means The Depository Trust Company (“DTC”), New York, New York, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, and
any other applicable U.S. or foreign statute or regulation, which, in each case, shall be designated by the Company pursuant to Section 2.01. 

“Designated Currency” has the meaning set forth in Section 2.15. 

“Distribution Compliance Period” means the restricted period as defined in Rule 903(b)(3) under the Securities Act. 

  
 3 

 “Dollar” or “$” means a U.S. dollar or other equivalent unit in
such coin or currency of the United States as at the time of payment is legal tender for the payment of public and private debts. 

“Dollar Equivalent” means, with respect to any monetary amount in a Foreign Currency, at any time for the determination
thereof, the amount of Dollars obtained by converting such Foreign Currency involved in such computation into Dollars at the spot rate for the purchase of Dollars with the applicable Foreign Currency as quoted by a financial institution designated
by the Company in New York, New York, at approximately 11:00 a.m. (New York time) on the date two business days prior to such determination. 

“Expiration Date” has the meaning specified in Section 8.01. 

“Euroclear” means Euroclear Bank S.A./N.V., or its successor, as operator of the Euroclear System. 

“Event of Default”, with respect to Securities of a particular series, means any event specified in Section 6.01,
continued for the period of time, if any, therein designated. 
 “Exchange Act” means the Securities Exchange Act of 1934,
as amended. 
 “Foreign Currency” means a currency, currency unit or composite currency, including the euro, issued by the
government of one or more countries other than the United States or by any recognized confederation or association of such governments or a composite currency the value of which is determined by reference to the values of the currencies of any group
of countries. 
 “Foreign Governmental Obligations” means in relation to Securities denominated in a currency other than
U.S. dollars, securities that are (i) a direct obligation of the government that issued such currency for the payment of which full faith and credit of such government is pledged or, with respect to Securities of any series which are
denominated in euro, a direct obligation of any member nation of the European Union for the payment of which obligation the full faith and credit of the respective nation is pledged so long as such nation has a credit rating at least equal to that
of the highest rated member nation of the European Economic Area or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality for such government, the payment of which is unconditionally guaranteed as
a full faith and credit obligation by such government, which, in either case, are not callable or redeemable at the option of the issuer thereof and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the
Securities Act) as custodian with respect to any such Foreign Governmental Obligation or a specific payment of principal of or interest on any such Foreign Governmental Obligation held by such custodian for the account of the holder of such
depositary receipt; provided, however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of
the Foreign Governmental Obligation or the specific payment of principal of or interest on the Foreign Governmental Obligation evidenced by such depositary receipt. 

“Funded Debt” means, as of any date of determination, indebtedness of the Guarantor or the indebtedness of a Subsidiary
maturing by its terms more than one year after its creation and indebtedness classified as long-term debt under U.S. GAAP as in effect on the date of this Indenture, and in each case ranking at least pari passu with the Securities, the
Guarantee or the other senior indebtedness of such Subsidiary. 

  
 4 

 “Global Security”, with respect to any series of Securities, means a Security
executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture, which shall be registered in the name of the Depositary or its nominee. 

“Guarantee” means the unconditional and unsubordinated guarantee by the Guarantor of the Company’s obligations under any
Security of any applicable series under this Indenture. 
 “Guaranteed Obligations” has the meaning specified in
Section 14.01(a). 
 “Guarantor” means Thermo Fisher Scientific Inc. until a successor entity shall have become such
person pursuant to Article XIV, and thereafter “Guarantor” shall mean such successor entity. 
 “herein,”
“hereof” and “hereunder,” and other words of similar import, refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

“including” means including without limitation. 

“indebtedness” means, with respect to any specified Person, any indebtedness of such Person, whether or not contingent: 

(a) in respect of borrowed money; 

(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); and

 (c) in respect of Capital Lease Obligations. 

In addition, the term “indebtedness” includes (x) all indebtedness (as defined above) of others secured by a Lien on any asset
of the specified Person (whether or not such indebtedness is assumed by the specified Person), provided that the amount of such indebtedness will be the lesser of (A) the fair market value of such asset at such date of determination and
(B) the amount of such indebtedness, and (y) to the extent not otherwise included, the guarantee by the specified Person of any indebtedness (as defined above) of any other Person. 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into in accordance with the terms hereof. 
 “Indirect Participant” means any
entity that, with respect to DTC, clears through or maintains a direct or indirect, custodial relationship with a Participant. 

“Institutional Accredited Investor” means an institution that is an “accredited investor” as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act, who is not also a QIB. 

  
 5 

 “Interest Payment Date,” when used with respect to any installment of interest
on a Security of a particular series, means the date specified herein, in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to
Securities of that series is due and payable. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge,
charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement. 

“Officer” means, as applicable, (i) any director or officer of the Company or (ii) any managing director, the
chairman or any vice chairman of the Board of Directors, the chief executive officer, the president, the chief financial officer, the chief operating officer, the chief accounting officer, the controller, the general counsel, any vice president, the
treasurer, any assistant treasurer, the secretary or any assistant secretary, in each case, of the Guarantor. 
 “Officer’s
Certificate” means a certificate, signed by, as applicable, (i) any director or officer of the Company or (ii) any managing director or by the chairman or any vice chairman of the Board of Directors, or the chief executive
officer, president, chief financial officer or vice president or the secretary or any assistant secretary or the treasurer or any assistant treasurer, in each case, of the Guarantor that is delivered to the Trustee in accordance with the terms
hereof. Each such certificate shall include the statements provided for in Section 13.06, if and to the extent required by the provisions thereof. 

“Opinion of Counsel” means an opinion in writing of legal counsel, who may be an Officer or employee of or counsel for the
Company or the Guarantor that is delivered to the Trustee in accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 13.06, if and to the extent required by the provisions thereof. Opinions of
Counsel may rely on certificates of the Company, the Guarantor or governmental or other officials customary for opinions of the type required, including certificates certifying as to matters of fact. 

“Original Issue Discount Security” means a Security that provides for an amount less than the principal amount thereof to be
due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01. 
 “Outstanding”,
when used with reference to Securities of any series, subject to the provisions of Section 8.04, means, as of any particular time, all Securities of such series authenticated and delivered by the Trustee under this Indenture, except: 

(a) Securities theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

(b) Securities, or portions thereof, for the payment or redemption of which funds in the necessary amount shall have been deposited in trust
with the Trustee or with any paying agent other than the Company or, if the Company shall act as its own paying agent, shall have been set aside, segregated and held in trust by the Company for the Holders of such Securities, provided that if such
Securities, or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and 

  
 6 

 (c) Securities in substitution for which other Securities shall have been authenticated and
delivered, or which shall have been paid, pursuant to the terms of Section 2.07, except with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security is held by a person in whose hands such
Security is a legal, valid and binding obligation of the Company. 
 In determining whether the holders of the requisite principal amount of
Outstanding Securities of any series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes
shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01 and the principal amount of a Security
denominated in one or more currencies that shall be deemed to be Outstanding for such purposes shall be based on the Dollar Equivalent on the date of original issuance of such Security, of the principal amount of such Security. 

“Participant”, with respect to the Depositary, Euroclear or Clearstream, means a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 
 “Periodic
Offering” means an offering of Securities of a series from time to time, during which any or all of the specific terms of the Securities, including the rate or rates of interest, if any, thereon, the maturity or maturities thereof and the
redemption provisions, if any, with respect thereto, are to be determined by the Company or its agents upon the issuance of such Securities in accordance with the terms of the relevant Supplemental Indenture. 

“Permitted Liens” has the meaning set forth in Section 4.07. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, joint-stock company,
association, trust, unincorporated organization or government or any agency or political subdivision thereof; provided, however, for the purposes of Article X and Section 14.02, “Person” shall not include any individual,
joint venture, association, unincorporated organization or government or any agency or political subdivision thereof. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt
as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same debt as
the lost, destroyed or stolen Security. 
 “Principal Property” means any single parcel of real property or any permanent
improvement thereon (i) owned by the Guarantor or any of its Subsidiaries located in the United States, including the Guarantor’s principal corporate office, any manufacturing facility or plant or any portion thereof and (ii) having a
book value, as of the date of determination, in excess of 3% of the Guarantor’s most recently calculated Consolidated Net Assets. Principal Property does not include any property that the Board of Directors of the Guarantor has determined not
to be of material importance to the business conducted by the Guarantor and its Subsidiaries, taken as a whole. 

  
 7 

 “Principal Subsidiary” means any direct or indirect Subsidiary of the Guarantor
that owns a Principal Property. 
 “Private Placement Legend” means the legend set forth in Section 2.02(b) to be
placed on all Restricted Securities issued under this Indenture or pursuant to a Board Resolution or an indenture supplemental hereto with respect to a series of Securities, except where specifically stated otherwise by the provisions of this
Indenture, such Board Resolution or such supplemental indenture. 
 “QIB” means a “qualified institutional buyer”
as defined in Rule 144A. 
 “Regulation S Global Security” means, with respect to any series of Securities, a Regulation S
Temporary Global Security of such series, if required by Rule 903 of Regulation S, or a Regulation S Permanent Global Security of such series, as the case may be. 

“Regulation S Permanent Global Security”, with respect to any series of Securities, means one or more permanent Global
Securities, bearing the Private Placement Legend, that will be issued in an aggregate amount of denominations equal in total to the outstanding principal amount of the Securities of such series initially sold or, if required by Rule 903 of
Regulation S, of the Regulation S Temporary Global Security of such series upon expiration of the Distribution Compliance Period with respect to such series, as the case may be. 

“Regulation S Temporary Global Security”, with respect to any series of Securities, means one or more temporary Global
Securities, bearing the Private Placement Legend, and the Regulation S Temporary Global Security Legend issued in an aggregate amount of denominations equal in total to the outstanding principal amount of the Securities of such series initially
sold, if required by Rule 903 of Regulation S. 
 “Regulation S Temporary Global Security Legend” means the legend set
forth in Section 2.02(d), which is required to be placed on all Regulation S Temporary Global Securities issued under this Indenture. 

“Regulation S” means Regulation S promulgated under the Securities Act, as it may be amended from time to time, and any
successor provision thereto. 
 “Responsible Officer” means any vice president, any trust officer, any assistant trust
officer, any assistant vice president, any assistant treasurer, or any other officer of the Trustee customarily performing 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 his knowledge of and familiarity with the particular subject. 
 “Restricted
Definitive Security”, with respect to any series of Securities, means one or more Definitive Securities of such series bearing the Private Placement Legend issued under this Indenture. 

  
 8 

 “Restricted Global Security”, with respect to any series of Securities, means
one or more Global Securities of such series bearing the Private Placement Legend, issued under this Indenture. 
 “Restricted
Security”, with respect to any series of Securities, means a Security of such series, unless or until it (i) has been effectively registered under the Securities Act and disposed of in accordance with a registration statement with
respect to such series or (ii) is eligible to be resold pursuant to Rule 144 under the Securities Act (or any similar provision then in force). 

“Rule 144A” means Rule 144A promulgated under the Securities Act, as it may be amended from time to time, and any successor
provision thereto. 
 “Sale and Leaseback Transaction” means any arrangement with any Person providing for the leasing by
the Guarantor or any Subsidiary of the Guarantor of any Principal Property which has been or is to be sold or transferred by the Guarantor or such Subsidiary to such Person, excluding (1) temporary leases for a term, including renewals at the
option of the lessee, of not more than three years, (2) leases between the Guarantor and a Subsidiary or between Subsidiaries of the Guarantor, (3) leases of a Principal Property executed by the time of, or within 12 months after the
latest of, the acquisition, the completion of construction or improvement, or the commencement of commercial operation of the property and (4) arrangements pursuant to any provision of law with an effect similar to the former
Section 168(f)(8) of the Internal Revenue Code of 1954, as amended. 
 “Securities” means the securities authenticated
and delivered under this Indenture. 
 “Securityholder,” “Holder,” “holder of
Securities,” “registered holder,” or other similar term, means the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the
terms of this Indenture. 
 “Security Register” has the meaning set forth in Section 2.05(a). 

“Security Registrar” has the meaning set forth in Section 2.05(a). 

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

“Subsidiary”, with respect to any Person, means any other Person of which at least a majority of the outstanding Voting Stock
at the time is owned or controlled directly or indirectly by such Person or by one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person. 

“Taxes” has the meaning set forth in Section 15.02. 

“Taxing Jurisdiction” has the meaning set forth in Section 15.01. 

  
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 “Trustee” means The Bank of New York Mellon Trust Company, N.A. and, subject to
the provisions of Article VII, shall include its successors and assigns. The term “Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, as in effect at the date of execution of this
instrument subject to the provisions of Sections 9.01, 9.02, and 10.01. 
 “Unrestricted Definitive Security”, with respect
to any series of Securities, means one or more Definitive Securities representing such series of Securities that do not bear and are not required to bear the Private Placement Legend, issued under this Indenture. 

“Unrestricted Global Security”, with respect to any series of Securities, means one or more permanent Global Securities
representing such series of Securities that do not bear and are not required to bear the Private Placement Legend, issued under this Indenture. 

“Unrestricted Securities”, with respect to any series of Securities, means a Security (i) effectively registered under
the Securities Act and disposed of in accordance with a registration statement with respect to such series or (ii) distributed to the public pursuant to Rule 144 under the Securities Act (or any similar provision then in force). 

“U.S. GAAP” means generally accepted accounting principles set forth in the FASB Accounting Standards Codification or in such
other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time. 

“U.S. Governmental Obligations” means securities that are (i) direct obligations of the United States for the payment of
which its full faith and credit is pledged or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States that, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act)
as custodian with respect to any such U.S. Governmental Obligation or a specific payment of principal of or interest on any such U.S. Governmental Obligation held by such custodian for the account of the holder of such depositary receipt; provided,
however, that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Governmental
Obligation or the specific payment of principal of or interest on the U.S. Governmental Obligation evidenced by such depositary receipt. 

“Value” means, with respect to a Sale and Leaseback Transaction, an amount equal to the net present value of the lease
payments (other than amounts required to be paid on account of property taxes, maintenance, repairs, insurance, water rates and other items that do not constitute payments for property rights) with respect to the term of the lease remaining on the
date as of which the amount is being determined, without regard to any renewal or extension options contained in the lease, discounted at the weighted average interest rate on the Securities of all series (including the yield to maturity on any
Original Issue Discount Securities) which are outstanding on the effective date of such Sale and Leaseback Transaction. 

  
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 “Voting Stock” of a Person means Capital Stock of such Person of any class or
kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right to vote has been suspended by the happening of such
a contingency. 
 ARTICLE II 

ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 

Section 2.01 Designation and Terms of Securities. 

(a) The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may
be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution of the Company or pursuant to one or more indentures supplemental hereto. Prior to
the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officer’s Certificate of the Company, or established in one or more indentures supplemental
hereto, with respect to the Securities of the series: 
 (1) the title of the Security of the series (which shall distinguish the
Securities of the series from all other Securities); 
 (2) any limit upon the aggregate principal amount of the Securities of that series
that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, other Securities of that series); 

(3) the date or dates on which the principal and premium, if any, of the Securities of the series is payable; 

(4) the rate or rates (which may be fixed or variable) at which the Securities of the series shall bear interest or the manner of calculation
of such rate or rates, if any (including any procedures to vary or reset such rate or rates), and the basis upon which interest will be calculated if other than that of a 360-day year of twelve 30-day months; 

(5) the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the manner
of determination of such Interest Payment Dates, and the record date for the determination of holders to whom interest is payable on any such Interest Payment Dates; 

(6) any trustees, authenticating agents or paying agents with respect to such series, if different from those set forth in this Indenture;

 (7) the right, if any, to extend the interest payment periods or defer the payment of interest and the duration of such extension or
deferral; 

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

(10) the form of the Securities of the series including the form of the Trustee’s certificate of authentication for such series; 

(11) if other than denominations of €100,000 or any integral multiple of €1,000 in excess thereof, the denominations in which the
Securities of the series shall be issuable; 
 (12) the Currency or Currencies in which payment of the principal of, premium, if any, and
interest on, Securities of the series shall be payable; 
 (13) if the principal amount payable at the Stated Maturity of Securities of the
series will not be determinable as of any one or more dates prior to such Stated Maturity, the amount that will be deemed to be such principal amount as of any such date for any purpose, including the principal amount thereof that will be due and
payable upon any maturity other than the Stated Maturity or that will be deemed to be Outstanding as of any such date (or, in any such case, the manner in which such deemed principal amount is to be determined); 

(14) the terms of any repurchase or remarketing rights; 

(15) if the Securities of the series shall be issued in whole or in part in the form of a Global Security or Securities, the type of Global
Security to be issued; the terms and conditions, if different from those contained in this Indenture, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities in definitive registered form;
the Depositary for such Global Security or Securities; and the form of any legend or legends to be borne by any such Global Security or Securities in addition to or in lieu of the legends referred to in Section 2.02; 

(16) whether the Securities of the series will be convertible into or exchangeable for other Securities, common shares or other securities of
any kind of the Company or another obligor, and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, including the initial conversion or exchange price or rate or the method of calculation, how and when
the conversion price or exchange ratio may be adjusted, whether conversion or exchange is mandatory, at the option of the holder or at the Company’s option, the conversion or exchange period, and any other provision in addition to or in lieu of
those described herein; 

  
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 (17) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

(18) any additional restrictive covenants or Events of Default that will apply to the Securities of the series, or any changes to the
restrictive covenants set forth in Article IV, Article XIV or the Events of Default set forth in Section 6.01 that will apply to the Securities of the series, which may consist of establishing different terms or provisions from those set forth
in Article IV, Article XIV or Section 6.01 or eliminating any such restrictive covenant or Event of Default with respect to the Securities of the series; 

(19) any provisions granting special rights to holders when a specified event occurs; 

(20) if the amount of principal or any premium or interest on Securities of a series may be determined with reference to an index or pursuant
to a formula, the manner in which such amounts will be determined; 
 (21) any special tax implications of the Securities, including
provisions for Original Issue Discount Securities, if offered; 
 (22) whether and upon what terms Securities of a series may be defeased
if different from the provisions set forth in this Indenture; 
 (23) with regard to the Securities of any series that do not bear
interest, the dates for certain required reports to the Trustee; 
 (24) whether the Securities of the series will be issued as
Unrestricted Securities or Restricted Securities, and, if issued as Restricted Securities, the rule or regulation promulgated under the Securities Act in reliance on which they will be sold; 

(25) the terms of the Guarantee, including any corresponding changes to the provisions of this Indenture as then in effect; and 

(26) any and all additional, eliminated or changed terms that shall apply to the Securities of the series, including any terms that may be
required by or advisable under United States laws or regulations (including the Securities Act and the rules and regulations promulgated thereunder) or advisable in connection with the marketing of Securities of that series. 

(b) All Securities of any one series shall be substantially identical, except that Securities of any particular series may be issued at
various times, in different denominations, with different currency of payments due thereunder, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by
which rates of interest may be determined, with different dates from which such interest may accrue or on which such interest may be payable, and with different redemption dates, except as may otherwise be provided in or pursuant to any such Board
Resolution or in any supplemental indenture. If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified by an

  
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Officer of the Company and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate of the Company setting forth the terms of the series. The terms of the Securities
of any series may provide that such Securities shall be authenticated and delivered by the Trustee upon original issuance from time to time upon written order of persons designated in such Board Resolution or supplemental indenture and that such
persons are authorized to determine, consistent with such Board Resolution or supplemental indenture, such terms and conditions of the Securities of such series. 

Section 2.02 Form of Securities, Guarantee and Trustee’s Certificate. 

(a) The Securities of any series, any Guarantee to be endorsed thereon and the Trustee’s certificate of authentication to be borne by such
Securities shall be substantially of the tenor as set forth in an indenture supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officer’s Certificate of the Company and may have such letters, numbers
or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, any Board Resolution or
any indenture supplemental hereto, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Securities of that series may be listed, or to conform
to usage. 
 (b) Each Restricted Security (and all Restricted Securities issued in exchange therefor or substitution thereof) shall bear a
Private Placement Legend in substantially the following form: 
 “THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY
WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE
SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE COMPANY AND THE GUARANTOR THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a) TO A
PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (b) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT,
(c)

  
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PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF APPLICABLE) OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY IF THE COMPANY SO REQUESTS), (2) TO THE COMPANY OR ITS AFFILIATES OR (3) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE,
IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THE SECURITY EVIDENCED HEREBY
OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY EVIDENCED HEREBY.” 

(c) To the extent required by the Depositary for particular series of Securities, each Global Security of such series shall bear legends in
substantially the following forms: 
 “THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE ANY SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.05(C) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO THE INDENTURE AND
(IV) THIS GLOBAL SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.” 

“UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR TO ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN
THE NAME OF ANY ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND 

  
 15 

 
ANY PAYMENT IS MADE TO SUCH ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.” 
 (d) To the extent required by the Depositary, each
Regulation S Temporary Global Security shall bear a legend in substantially the following form: 
 “THE RIGHTS
ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL SECURITY, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR DEFINITIVE SECURITIES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).” 

Section 2.03 Denominations; Provisions for Payment. 

The Securities shall be issuable as registered Securities and in denominations of €100,000 or any integral multiple of €1,000 in
excess thereof, subject to Section 2.01(a)(11). The Securities of a particular series shall bear interest payable on the dates and at the rate specified as provided in Section 2.01 with respect to that series. The principal of and the
interest on the Securities of any series, as well as any premium thereon in case of redemption thereof prior to maturity, shall be payable in the Currency in which such Securities are denominated, at the office or agency of the Company maintained
for that purpose pursuant to Section 4.02. Each Security shall be dated the date of its authentication. Unless otherwise specified with respect to a series of Securities in accordance with the provisions of Section 2.01(a)(4), interest on
the Securities shall be computed on the basis of a 360-day year composed of twelve 30-day months. 
 The interest installment on any
Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect
to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 

Unless otherwise set forth in a Board Resolution or one or more indentures supplemental hereto establishing the terms of any series of any
Securities pursuant to Section 2.01, the term “regular record date” as used in this Section 2.03 with respect to a series of Securities shall mean a date 15 days immediately preceding any Interest Payment Date, whether or not
such day is a Business Day. Subject to the provisions of this Section 2.03, each Security of a series delivered under this Indenture upon registration of transfer or in exchange for or in lieu of any other Security of such series shall carry
the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 
 Unless otherwise specified with
respect to a series of Securities in accordance with the provisions of Section 2.01, any interest on any Security that is payable, but is not punctually paid 

  
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or duly provided for, on any Interest Payment Date for such Security (“Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular
record date, and such Defaulted Interest shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below. 

(1) The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee funds in an amount equal to the aggregate amount proposed to be paid in respect of
such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such funds when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted
Interest as provided in this clause (1). Thereupon the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less than ten days prior to the date of the proposed payment and not less
than ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee promptly shall notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed
payment of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register, not less than ten days prior to such special
record date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered on such special record date and shall not be payable pursuant to the following clause (2). 
 (2)
The Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by
such exchange. 
 Section 2.04 Execution and Authentications. 

The Securities shall be signed on behalf of the Company by any Officer or any member of the Board of Directors of the Company and any Guarantee
shall be executed on behalf of the Guarantor by any member of the Board of Directors of the Guarantor or by its president, chief financial officer, vice president, secretary, assistant secretary, treasurer or assistant treasurer. Signatures may be
in the form of a manual or facsimile signature. In the case of Definitive Securities of any series, such signatures may be imprinted or otherwise reproduced on such Securities. The Securities may contain such notations, legends or endorsements
required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication by the Trustee. 
 A Security
shall not be valid until authenticated manually by an authorized signatory of the Trustee or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered
hereunder and that the holder 

  
 17 

 
is entitled to the benefits of this Indenture. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by
the Company, together with the Guarantee endorsed thereon executed by the Guarantor to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by an Officer (an
“Authentication Order”), and the Trustee in accordance with such written order shall authenticate and deliver such Securities. 

Notwithstanding the provisions of Section 2.01 and the preceding paragraph, in the case of Securities offered in a Periodic Offering, the
Trustee shall authenticate and deliver such Securities from time to time in accordance with instructions or such other procedures acceptable to the Trustee as may be specified by or pursuant to a supplemental indenture or the written order of the
Company delivered to the Trustee prior to the time of the first authentication of Securities of such series. With respect to Securities of a series subject to a Periodic Offering, the Trustee may conclusively rely, as to the authorization by the
Company of any of such Securities, the forms and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the written order of the Company, Opinion of Counsel, Officer’s Certificate and other documents delivered
pursuant to this Section 2.04 at or prior to the time of the first authentication of Securities of such series unless and until such written order, Opinion of Counsel, Officer’s Certificate or other documents have been superseded or
revoked or expire by their terms. 
 Section 2.05 Transfer and Exchange. 

(a) Registration of Transfer and Exchange. The Company shall keep, or cause to be kept, at its office or agency designated for such
purpose as provided in Section 4.02, a register or registers (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of
Securities as provided in this Article II and which at all reasonable times shall be open for inspection by the Trustee. The registrar for the purpose of registering Securities and the transfer of Securities as herein provided shall be appointed as
authorized by Board Resolution (the “Security Registrar”). If the Company fails to appoint or maintain another entity as Security Registrar, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Security
Registrar. 
 To permit registrations of transfers and exchanges, the Company shall execute a new Security or Securities of the same series
as the Security presented for a like aggregate principal amount and in authorized denominations, the Guarantor shall execute a new Guarantee to be endorsed thereon and the Trustee shall authenticate and deliver such Security or Securities upon
receipt of an Authentication Order. The Trustee shall not be required to register the transfer of or exchange any Security selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and the
Guarantor, as applicable, evidencing the same indebtedness, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. Prior to such due presentment for the registration of a
transfer of any Security, the Trustee, the Company, the Guarantor, any paying agent and the Security Registrar may deem and treat the Person in whose name any Security is registered as the absolute owner of such Security for the purpose of receiving
payment of principal of and interest on such Securities and for all other purposes, and none of the Trustee, the Company, the Guarantor, the paying agent or the Security Registrar shall be affected by notice to the contrary. 

  
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 All certifications, certificates and opinions of counsel required to be submitted to the Trustee
pursuant to this Section 2.05 to effect a registration of transfer or exchange may be submitted by facsimile. 
 (b) Service
Charge. No service charge shall be payable by a holder of a beneficial interest in a Global Security or by a Holder of a Definitive Security for any exchange or registration of transfer of Securities, or for any issue of new Securities in case
of partial redemption of any series, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto (other than any such taxes or other governmental charge payable upon exchange or
registration of transfer pursuant to Sections 2.06, 3.03(b) and 9.04). 
 (c) Transfer and Exchange of Global Securities. A Global
Security may not be transferred except as a whole by the Depositary for a series of the Securities to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or to another nominee of such Depositary or by such Depositary or
any such nominee to a successor Depositary for a series of the Securities or a nominee of such successor Depositary. If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as
Depositary for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange Act or other applicable statute or regulation, and a successor Depositary for such series is not
appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, the provisions of Section 2.11 shall no longer be applicable to the Securities of such series. In addition, (i) the Company
may at any time determine that the Securities of any series shall no longer be represented by a Global Security and that the provisions of Section 2.11 shall no longer apply to the Securities of such series and (ii) upon an Event of
Default if the Trustee so requests, the Securities of any series shall no longer be represented by a Global Security and the provisions of Section 2.11 shall no longer apply to the Securities of such series. In any such event the Company will
execute the Definitive Securities of such series and the Guarantor will execute the Guarantee endorsed thereon, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security of such series and
subject to this Section 2.05 the Trustee, upon receipt of an Officer’s Certificate evidencing such determination by the Company, if applicable, will authenticate and deliver such Definitive Securities in exchange for such Global Security.
Upon the exchange of the Global Security of such series for such Definitive Securities of such series, the Global Security shall be canceled by the Trustee. Such Definitive Securities shall be registered in such names and in such authorized
denominations as the Depositary, pursuant to instructions from its Participants or Indirect Participants or otherwise, shall in writing instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in
whose names such Securities are so registered. 
 Except as provided in Sections 2.06 and 2.07, a Global Security may not be exchanged for
another Security other than as provided in this Section 2.05(c); however, beneficial interests in a Global Security may be transferred and exchanged as provided in Section 2.05(d) or (e). The provisions of this Section 2.05(c) are
subject to Section 2.11. 

  
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 (d) Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer
and exchange of beneficial interests in the Global Securities of a series shall be effected through the Depositary, in accordance with the provisions of this Indenture, any Board Resolution and any one or more indentures supplemental hereto, and the
Applicable Procedures. Beneficial interests in the Restricted Global Securities of a series shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(1) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Restricted Global Security of a series
may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial interests in any
Unrestricted Global Security of a series may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security of such series. Subject to Section 2.05(e)(4), no written orders or
instructions shall be required to be delivered to the Security Registrar to effect the transfers described in this Section 2.05(d)(1). 

(2) All Other Transfers and Exchanges of Beneficial Interests in Global Securities. Subject to Section 2.05(c), in connection
with all transfers and exchanges of beneficial interests that are not subject to Section 2.05(d)(1) above, the transferor of such beneficial interest must deliver to the Security Registrar, as applicable, either: 

(A) (1) an order from a Participant or an Indirect Participant given to the Depositary in accordance with the relevant Applicable Procedures
directing the Depositary to credit or cause to be credited a beneficial interest in another Global Security of such series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance
with the relevant Applicable Procedures containing information regarding the Participant account to be credited with such increase; or 

(B) (1) an order from a Participant or an Indirect Participant given to the Depositary in accordance with the relevant Applicable Procedures
directing the Depositary to cause to be issued a Definitive Security of such series in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Security Registrar containing
information regarding the Person in whose name such Definitive Security shall be registered to effect the transfer or exchange referred to in (B)(1) above; 

provided that in no event shall Definitive Securities of a series be issued upon the transfer or exchange of beneficial interests in the Regulation S
Temporary Global Security of such series prior to (y) the expiration of the relevant Distribution Compliance Period and (z) the receipt by the Security Registrar of any certificates identified by the Company or its counsel to be required
pursuant to Rule 903 and Rule 904 under the Securities Act. Upon satisfaction of all the requirements for transfer and exchange of beneficial interests in Global Securities of a series contained in this Indenture, any Board Resolution, or one or
more indentures supplemental hereto and the Securities of such series or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security or Securities of such series pursuant to
Section 2.05(h). 

  
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 (3) Transfer of Beneficial Interests to Another Restricted Global Security. A beneficial
interest in any Restricted Global Security of a series may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security of the same series if the transfer complies with the
requirements of Section 2.05(d)(2) and the Security Registrar receives a completed certificate in the form of Exhibit A. 
 (4)
Transfer and Exchange of Beneficial Interests in a Restricted Global Security for Beneficial Interests in an Unrestricted Global Security. A beneficial interest in any Restricted Global Security of any series may be exchanged by any holder
thereof for a beneficial interest in an Unrestricted Global Security of such series or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security of such series if the exchange or
transfer complies with the requirements of Section 2.05(d)(2) above and the Security Registrar receives a completed certificate from such holder in the form of Exhibit A or Exhibit B, as applicable, and an opinion of counsel in form, and from
legal counsel, reasonably acceptable to the Security Registrar and the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement
Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected at a time when an
Unrestricted Global Security of such series has not yet been issued, the Company shall execute and issue and the Guarantor shall execute the Guarantee endorsed thereon and, upon receipt of an Authentication Order in accordance with
Section 2.04, the Trustee shall authenticate, one or more Unrestricted Global Securities of such series in an aggregate principal amount equal to the aggregate principal amount of beneficial interests so transferred. Beneficial interests in an
Unrestricted Global Security of a series cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Security of such series. 

(e) Transfer or Exchange of Beneficial Interests for Definitive Securities. 

Subject to Section 2.05(c), 

(1) Beneficial Interests in Restricted Global Securities to Restricted Definitive Securities. If any holder of a beneficial interest
in a Restricted Global Security of a series proposes to exchange such beneficial interest for a Restricted Definitive Security of such series or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted
Definitive Security of such series, then, upon receipt by the Security Registrar of a completed certificate from such holder in the form of Exhibit A or Exhibit B, as applicable, and certificates and opinions of counsel, if applicable, the Trustee
shall cause the aggregate principal amount of the applicable Restricted Global Security of such series to be reduced accordingly pursuant to Section 2.05(h), and the Company shall execute a Restricted Definitive Security of such series in the
appropriate principal amount and the Guarantor shall execute the Guarantee endorsed thereon and, upon receipt of an Authentication Order pursuant to Section 2.04, the Trustee shall authenticate and deliver to the Person designated in the
instructions such Restricted 

  
 21 

 
Definitive Security. Any Restricted Definitive Security of such series issued in exchange for a beneficial interest in a Restricted Global Security of such series pursuant to this
Section 2.05(e) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Security Registrar through instructions from the Depositary for such
series and the Participant or Indirect Participant. The Trustee shall deliver such Restricted Definitive Securities of such series to the Persons in whose names such Securities are so registered. Any Restricted Definitive Security of such series
issued in exchange for a beneficial interest in a Restricted Global Security of such series pursuant to this Section 2.05(e)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(2) Beneficial Interests in Restricted Global Securities to Unrestricted Definitive Securities. A holder of a beneficial interest in a
Restricted Global Security of a series may exchange such beneficial interest for an Unrestricted Definitive Security of such series or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted
Definitive Security of such series only if the Security Registrar receives a completed certificate from such holder in the form of Exhibit A or Exhibit B, as applicable, and an opinion of counsel in form, and from legal counsel, reasonably
acceptable to the Security Registrar and the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act. 
 (3) Beneficial Interests in Unrestricted Global Securities to
Unrestricted Definitive Securities. If any holder of a beneficial interest in an Unrestricted Global Security of a series proposes to exchange such beneficial interest for an Unrestricted Definitive Security of such series or to transfer such
beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security of such series, then, upon satisfaction of the conditions set forth in Section 2.05(d)(2), the Trustee shall cause the aggregate
principal amount of the applicable Unrestricted Global Security of such series to be reduced accordingly pursuant to Section 2.05(h), and the Company shall execute an Unrestricted Definitive Security of such series in the appropriate principal
amount and the Guarantor shall execute the Guarantee endorsed thereon and, upon receipt of an Authentication Order in accordance with Section 2.04, the Trustee shall authenticate and deliver to the Person designated in the instructions such
Unrestricted Definitive Security. Any Unrestricted Definitive Security issued in exchange for a beneficial interest pursuant to this Section 2.05(e)(3) shall be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest shall instruct the Security Registrar through instructions from the Depositary for such series and the Participant or Indirect Participant. The Trustee shall deliver such Unrestricted
Definitive Securities to the Persons in whose names such Securities are so registered. Any Unrestricted Definitive Security issued in exchange for a beneficial interest pursuant to this Section 2.05(e)(3) shall not bear the Private Placement
Legend. 
 (4) Transfer or Exchange of Regulation S Temporary Global Securities. Notwithstanding the other provisions of this
Section 2.05, a beneficial interest in the Regulation S Temporary Global Security of a series may not be (A) exchanged for a Definitive Security of such series prior to (y) the expiration of the Distribution Compliance Period with
respect to such series (unless such exchange is effected by the Company, does not require an investment decision on the 

  
 22 

 
part of the Holder thereof and does not violate the provisions of Regulation S) and (z) the receipt by the Security Registrar of any certificates identified by the Company or its counsel to
be required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act or (B) transferred to a U.S. person (as such term is defined in Regulation S) or for the account or benefit of a U.S. person (other than an initial purchaser of such
Regulation S Temporary Global Security) or a Person who takes delivery thereof in the form of a Definitive Security of such series prior to the events set forth in clause (A) above or unless the transfer is pursuant to an exemption from the
registration requirements of the Securities Act other than Rule 903 or 904. 
 (f) Transfer and Exchange of Definitive Securities for
Beneficial Interests. 
 (1) Restricted Definitive Securities to Beneficial Interests in Restricted Global Securities. If any
Holder of a Restricted Definitive Security of a series proposes to exchange such Security for a beneficial interest in a Restricted Global Security of such series or to transfer such Restricted Definitive Securities of such series to a Person who
takes delivery thereof in the form of a beneficial interest in a Restricted Global Security of such series, then, upon receipt by the Trustee of the following documentation: 

(A) if the Holder of such Restricted Definitive Security of such series proposes to exchange such Security for a beneficial interest in a
Restricted Global Security of such series, a completed certificate from such holder in the form of Exhibit B; or 
 (B) if such Restricted
Definitive Security is being transferred to a QIB in accordance with Rule 144A under the Securities Act or to a non-U.S. person in an offshore transaction in accordance with Rule 903 or 904 under the Securities Act, a completed certificate to that
effect set forth in Exhibit A, 
 the Trustee shall cancel the Restricted Definitive Security of such series, increase or cause to be increased the
aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Security of such series and, in the case of clause (B) above, the 144A Global Security of such series or the Regulation S Global Security of
such series as applicable. 
 (2) Restricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A
Holder of a Restricted Definitive Security of a series may exchange such Security for a beneficial interest in an Unrestricted Global Security of such series or transfer such Restricted Definitive Security of such series to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Security of such series only if the Security Registrar receives a completed certificate from such Holder in the form of Exhibit A or Exhibit B, as applicable, and an
opinion of counsel in form, and from legal counsel, reasonably acceptable to the Security Registrar and the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.05(f)(2), the Trustee shall cancel the
Restricted Definitive Securities of such series so transferred or exchanged and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security of such series. 

  
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 (3) Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global
Securities. A Holder of an Unrestricted Definitive Security of a series may exchange such Security for a beneficial interest in an Unrestricted Global Security of such series or transfer such Definitive Securities of such series to a Person who
takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security of such series at any time. Upon receipt of a written request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted
Definitive Security and increase or cause or be increased the aggregate principal amount of one of the Unrestricted Global Securities of such series. If any such exchange or transfer from a Definitive Security of a series to a beneficial interest is
effected pursuant to subparagraphs (2) or (3) of this Section 2.05(f) at a time when an Unrestricted Global Security of such series has not yet been issued, the Company shall execute and issue and the Guarantor shall execute the
Guarantee endorsed thereon, and, upon receipt of an Authentication Order in accordance with Section 2.04, the Trustee shall authenticate one or more Unrestricted Global Securities of such series in an aggregate principal amount equal to the
principal amount of Definitive Securities of such series so transferred. 
 (g) Transfer and Exchange of Definitive Securities for
Definitive Securities. Upon written request by a Holder of Definitive Securities of a series and such Holder’s compliance with the provisions of this Section 2.05(g), the Trustee shall register the transfer or exchange of Definitive
Securities of such series pursuant to the provisions of Section 2.05(a). In addition to the requirements set forth in Section 2.05(a), the requesting Holder shall provide any additional certifications, documents, and information, as
applicable, required pursuant to the following provisions of this Section 2.05(g). 
 (1) Restricted Definitive Securities to
Restricted Definitive Securities. Any Restricted Definitive Security of a series may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Security of such series if the Trustee
receives a completed certificate in the form of Exhibit A, including the certifications, certificates and opinions of counsel required by item (3) thereof, if applicable. 

(2) Restricted Definitive Securities to Unrestricted Definitive Securities. Any Restricted Definitive Security of a series may be
exchanged by the Holder thereof for an Unrestricted Definitive Security of such series or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Security of such series if the Security Registrar
receives a completed certificate from such Holder in the form of Exhibit A or Exhibit B, as applicable, and an opinion of counsel in form, and from legal counsel, reasonably acceptable to the Trustee and the Company to the effect that such exchange
or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

(3) Unrestricted Definitive Securities to Unrestricted Definitive Securities. A Holder of Unrestricted Definitive Securities of a
series may transfer such Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security of such series in accordance with subsection 2.05(a). Upon receipt of a request to register such a transfer, the Security
Registrar shall register the Unrestricted Definitive Securities of such series pursuant to the instructions from the Holder thereof. 

  
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 (h) Cancellation and/or Adjustment of Global Securities. At such time as all beneficial
interests in a particular Global Security of a series have been exchanged for Definitive Securities of such series or a particular Global Security of a series has been redeemed, repurchased or cancelled in whole and not in part, each such Global
Security of such series shall be returned to or retained and cancelled by the Trustee in accordance with Section 2.08. At any time prior to such cancellation, if any beneficial interest in a Global Security of such series is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security of such series or for Definitive Securities of such series, the principal amount of Securities of such series represented by such
Global Security shall be reduced accordingly and an endorsement may be made on such Global Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for
or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security of such series, such other Global Security shall be increased accordingly and an endorsement may be made on such Global
Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 
 (i) No Exchange or
Transfer. The Company shall not be required (i) to issue, exchange or register the transfer of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than
all the Outstanding Securities of the same series and ending at the close of business on the day of such mailing, (ii) to register the transfer of or exchange any Securities of any series or portions thereof called for redemption, nor
(iii) to register the transfer of or exchange a Security of any series between the applicable record date pursuant to Section 2.01(a)(5) and the next succeeding Interest Payment Date. 

Section 2.06 Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute temporary Securities (printed, lithographed or
typewritten) of any authorized denomination and the Guarantor may execute the Guarantee endorsed thereon and the Trustee shall authenticate and deliver such Securities. Such temporary Securities shall be substantially in the form of the definitive
Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the
Company and the Guarantee endorsed thereon shall be executed by the Guarantor and such Security shall be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities
of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series and the Guarantor will execute the Guarantee endorsed thereon and thereupon any or all temporary Securities of such series may
be surrendered in exchange therefor without charge to the holders, at the office or agency of the Company maintained pursuant to Section 4.02 for the purpose of exchanges of Securities of such series, and the Trustee shall authenticate and such
office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be
executed and furnished until further notice from the Company. Until so exchanged, temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated
and delivered hereunder. 

  
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 Section 2.07 Mutilated, Destroyed, Lost or Stolen Securities. 

In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company and the Guarantor, as
applicable, (subject to the next succeeding sentence) shall execute a new Security of the same series and the Guarantee endorsed thereon, bearing a number not contemporaneously outstanding in exchange and substitution for the mutilated Security, or
in lieu of and in substitution for the Security so destroyed, lost or stolen, and upon the Company’s written request the Trustee (subject to the next succeeding sentence) shall authenticate and deliver, such Security. In every case the
applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish
to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the applicant’s Security and of the ownership thereof. The Trustee may authenticate any such substituted Security and deliver the same upon the
written request or authorization of any Officer. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any
other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company, instead of issuing a substitute
Security, may pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may
require to save them harmless, and, in case of destruction, loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 

Every replacement Security issued pursuant to the provisions of this Section 2.07 shall constitute an additional contractual obligation
of the Company and the Guarantor, as applicable, whether or not the mutilated, destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Securities of the same series duly issued hereunder. All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or
payment of negotiable instruments or other securities without their surrender. 
 Section 2.08 Cancellation. 

All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer, if surrendered to the Company, the
Guarantor or any paying agent, shall be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the
provisions of this Indenture. On written request of the Company or the Guarantor at the time of such surrender, the Trustee shall deliver to the Company or the Guarantor, as applicable, canceled Securities held by the Trustee. If the Company or the
Guarantor shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for
cancellation. 

  
 26 

 Section 2.09 Benefits of Indenture. 

Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any Person, other than the parties
hereto and the holders of the Securities, any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants, conditions and provisions being for
the sole benefit of the parties hereto and of the holders of the Securities. 
 Section 2.10 Authenticating Agent. 

So long as any of the Securities of any series remain Outstanding, there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. The Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series, including Securities issued upon exchange, registration of transfer
or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. All references in this Indenture to
the authentication of Securities by the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital
and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by Federal or State authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. Any
Authenticating Agent may resign at any time by giving written notice of resignation to the Trustee and to the Company. The Trustee at any time may, and upon request by the Company shall, terminate the agency of any Authenticating Agent by giving
written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to
the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto.

 Section 2.11 Global Securities. 

(a) General. If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as
a Global Security, then the Company shall execute one or more Global Securities and the Guarantor shall execute the Guarantee endorsed thereon that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal
amount of, all of the Outstanding Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee and (iii) shall be delivered to the Trustee as custodian for the Depositary or otherwise delivered pursuant
to the Depositary’s instruction and the Trustee in accordance with Section 2.04 shall authenticate such Global Security or Global Securities. 

  
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 (b) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating
Procedures of the Euroclear System” and the “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions” and “Customer Handbook” of Clearstream, respectively, in effect at the relevant
time shall be applicable to transfers of beneficial interests in the Regulation S Global Securities of such series that are held by Participants through Euroclear or Clearstream. 

Section 2.12 CUSIP Numbers. 

The Company in issuing the Securities of a series may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall
use “CUSIP” numbers in notices of redemption as a convenience to Securityholders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as
contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will
promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 
 Section 2.13 Securities Denominated in
Foreign Currencies. 
 Except as otherwise specified pursuant to Section 2.01 for Securities of any series, payment of the principal
of, premium, if any, and interest on, Securities of such series denominated in any Foreign Currency will be made in such Foreign Currency. 

In the event any Foreign Currency or Currencies in which any payment with respect to any series of Securities may be made ceases to be a
freely convertible Currency on United States Currency markets, for any date thereafter on which payment of principal of, premium, if any, or interest on the Securities of a series is due, the Company shall select the Currency of payment for use on
such date, all as provided in the Securities of such series, in a Board Resolution or in one or more indentures supplemental hereto. In such event, the Company shall notify the Trustee of the Currency which it has selected to constitute the funds
necessary to meet the Company’s obligations on such payment date and of the amount of such Currency to be paid. Such amount shall be determined as provided in the Securities of such series, in a Board Resolution or in one or more indentures
supplemental hereto. The payment with respect to such payment date shall be deposited with the Trustee or the applicable paying agent by the Company or the Guarantor solely in the Currency so selected. 

Section 2.14 Wire Transfers. 

Notwithstanding any other provision to the contrary in this Indenture, the Company or the Guarantor may make any payment required to be
deposited with the Trustee on account of principal of, premium, if any, or interest on, the Securities by any method of wire transfer to an account designated in writing by the Trustee such that funds are available on or before the date such payment
is to be made to the Holders of the Securities in accordance with the terms hereof. 

  
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 Section 2.15 Designated Currency. 

The Company may provide pursuant to Section 2.01 for Securities of any series that: 

(a) the obligation, if any, of the Company to pay the principal of, premium, if any, and interest on the Securities of any series in a Foreign
Currency or Dollars (the “Designated Currency”) as may be specified pursuant to Section 2.01(a)(12) is of the essence and agree that, to the fullest extent possible under applicable law, judgments in respect of Securities of
such series shall be given in the Designated Currency; 
 (b) the obligation of the Company to make payments in the Designated Currency of
the principal of, premium, if any, and interest on such Securities shall be discharged, notwithstanding any payment in any other Currency (whether pursuant to a judgment or otherwise), only to the extent of the amount in the Designated Currency that
the Securityholder receiving such payment, in accordance with normal banking procedures, may purchase with the amount paid in such other Currency after any premium and cost of exchange on the business day in the country of issue of the Designated
Currency or in the international banking community immediately following the day on which such Securityholder receives such payment; 
 (c)
if the amount in the Designated Currency that may be so purchased for any reason falls short of the amount originally due, the Company shall pay such additional amounts as may be necessary to compensate for such shortfall; and 

(d) any obligation of the Company not discharged by such payment shall be due as a separate and independent obligation and, until discharged
as provided herein, shall continue in full force and effect. 
 Section 2.16 Form of Guarantee. 

The form of Guarantee shall be set forth on the applicable series of Securities substantially as follows: 

GUARANTEE 
 For value received,
[    ] hereby absolutely, unconditionally and irrevocably guarantees to the holder of this Security the payment of principal of, premium, if any, and interest on, the Security upon which this Guarantee is set forth in the amounts
and at the time when due and payable whether by declaration thereof, or otherwise, and interest on the overdue principal and interest, if any, of such Security, if lawful, to the holder of such Security and the Trustee on behalf of the Holders, all
in accordance with and subject to the terms and limitations of such Security and Article XIV of the Indenture. This Guarantee will not become effective until the Trustee or Authenticating Agent duly executes the certificate of authentication on this
Security. This Guarantee shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles thereof. 

Dated: 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

  
 29 

 ARTICLE III 

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 

Section 3.01 Redemption. 

The Company may redeem the Securities of any series issued hereunder on and after the dates and in accordance with the terms established for
such series pursuant to Section 2.01. 
 Section 3.02 Notice of Redemption. 

(a) If the Company desires to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series, the Company
shall, or shall instruct the Trustee in writing to, give notice of such redemption to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a notice of such redemption not less than 15 days and not more
than 60 days before the date fixed for redemption of that series to such holders at their last addresses as they shall appear upon the Security Register (unless a shorter period is specified in the Securities to be redeemed). Any notice that is
mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any series
designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with any such
restriction. 
 Each such notice of redemption shall specify the date fixed for redemption and the redemption price at which Securities of
that series are to be redeemed, and shall state that: (i) payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company maintained for such purpose, or, if none, at the Corporate Trust
Office of the Trustee, upon presentation and surrender of such Securities; (ii) interest accrued to the date fixed for redemption will be paid as specified in said notice; (iii) from and after said date interest will cease to accrue;
(iv) the redemption is for a sinking fund, if such is the case, and (v) the CUSIP and/or other similar number as contemplated by, and containing the disclaimers and other language contemplated by, Section 2.12. If less than all the
Securities of a series are to be redeemed, the notice to the holders of Securities of that series to be redeemed in whole or in part shall specify the particular Securities to be so redeemed. In case any Security is to be redeemed in part only, the
notice that relates to such Security shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities of such series in
principal amount equal to the unredeemed portion thereof will be issued. 
 (b) If all or less than all the Securities of a series are to be
redeemed, the Company shall give the Trustee at least 15 days’ written notice (unless a shorter period shall be satisfactory to the Trustee) in advance of the date the Company gives notice to the Securityholders

  
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of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed. If less than all the Securities are to be redeemed, the Trustee thereupon shall
select from Securities of such series Outstanding not previously called for redemption, in accordance with a method determined by the Company (in such manner as complies with applicable legal and stock exchange requirements, if any) and that may
provide for the selection of a portion or portions (equal to €1,000 or any integral multiple thereof) of the principal amount of such Securities of such series of a denomination larger than €1,000, the Securities of such series to be
redeemed. The Trustee promptly shall notify the Company in writing of the numbers of the Securities of such series to be redeemed, in whole or in part. 

The Company, if and whenever it shall so elect, by delivery of instructions signed on its behalf by any of its Officers, may instruct the
Trustee or any paying agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section 3.02, such notice to be in the name of the Company or its own
name, as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the
Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be
required under the provisions of this Section 3.02. 
 Section 3.03 Payment Upon Redemption. 

(a) If the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the series
to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption, in each case as established
pursuant to Section 2.01. Interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in the payment of such redemption price and accrued interest with
respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, such Securities shall be paid and redeemed at the applicable
redemption price for such series, together with interest accrued thereon to the date fixed for redemption; provided, that, installments of interest whose Stated Maturity is on or prior to the date fixed for redemption shall be payable to the
Securityholders of such Securities (or one or more Predecessor Securities) registered as such at the close of business on the applicable record date pursuant to Section 2.03. 

(b) Upon presentation of any Security of such series that is to be redeemed in part only, the Company shall execute a new Security of the same
series and tenor of authorized denominations in principal amount equal to the unredeemed portion of the Security so presented, the Guarantor shall execute the Guarantee endorsed thereon and the Trustee shall authenticate, and the office or agency
where the Security is presented shall deliver to the holder thereof, at the expense of the Company, such Security; except that if a Global Security is so surrendered, the Company shall execute a new Global Security of like tenor in a denomination
equal to and in exchange for the unredeemed portion of the principal of the Global Security so surrendered and, upon receipt of an Officer’s Certificate requesting authentication and delivery, the Trustee shall authenticate and deliver to the
Depositary for such Global Security, without service charge, such Global Security. 

  
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 Section 3.04 Sinking Fund. 

The provisions of this Section 3.04 and Sections 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of
a series, except as otherwise specified as contemplated by Section 2.01 for Securities of such series. 
 The minimum amount of any
sinking fund payment provided for by the terms of Securities of any series is referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is
referred to as an “optional sinking fund payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund
payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 

Section 3.05 Satisfaction of Sinking Fund Payments with Securities. 

The Company (i) may deliver Outstanding Securities of a series (other than any Securities previously called for redemption) and
(ii) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the
terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities, provided that such Securities have not
been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund
payment shall be reduced accordingly. 
 Section 3.06 Redemption of Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an
Officer’s Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by payment of cash in the Currency in which the
Securities of such series are denominated (except as provided pursuant to Section 2.01), the portion thereof, if any, that is to be satisfied by delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for
such credit. Together with such Officer’s Certificate, the Company will deliver to the Trustee any Securities to be so delivered. Not less than 15 days before each such sinking fund payment date, the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.02. Such
notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 

  
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 ARTICLE IV 

CERTAIN COVENANTS 
 The
following covenants shall apply to the Securities, except with respect to any series of Securities for which the supplemental indenture or resolution of the Board of Directors of the Company under which such series of Securities is issued or in the
form of Security for such series expressly provides that any such covenant shall not apply to such series of Securities: 

Section 4.01 Payment of Principal, Premium and Interest. 

The Company will duly and punctually pay or cause to be paid the principal of, premium, if any, and interest on the Securities of a series at
the time and place and in the manner provided herein and established with respect to such Securities. 
 Section 4.02 Maintenance of
Office or Agency. 
 So long as any series of the Securities remain Outstanding, the Company will maintain for such series an office or
agency where Securities of such series may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the
Securities of such series and this Indenture may be given or served. Such designation will continue with respect to each office or agency until the Company, by written notice signed by any Officer and delivered to the Trustee, shall designate some
other office or agency for such purposes or any of them. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all presentations, surrenders, notices and demands. Unless otherwise specified in accordance with
Section 2.01 with respect to a series of Securities, the Company initially designates the Corporate Trust Office of The Bank of New York Mellon Trust Company, N.A., 500 Ross Street, Pittsburgh PA 15262; Attention: Corporate Trust, acting as the
Company’s agent, as the office to be maintained by it for each such purpose. 
 Section 4.03 Paying Agents. 

(a) The Company may appoint one or more paying agents, other than the Trustee, for all or any series of the Securities. If the Company fails to
appoint or maintain another entity as paying agent, the Trustee shall act as such. The Company, the Guarantor or any of their Subsidiaries may act as paying agent. 

(b) The Company shall require each paying agent other than the Trustee to agree in writing that the paying agent will hold in trust for the
benefit of Securityholders or the Trustee all funds held by the paying agent for the payment of principal, premium, if any, or interest on the Securities, and will promptly notify the Trustee in writing of any default by the Company in making any
such payment. While any such default continues, the Trustee may require a paying agent to pay all funds held by it to the Trustee. The Company at any time may require a paying agent to pay all funds held by it to the Trustee. Upon payment over to
the Trustee, the paying agent (including the Company or any of their Subsidiaries serving as the paying agent) shall have no 

  
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further liability for the funds. If the Company, the Guarantor or any of their Subsidiaries acts as paying agent, it shall segregate and hold in a separate trust fund for the benefit of the
Securityholders all funds held by it as paying agent. 
 (c) Notwithstanding anything in this Section to the contrary, (i) the
agreement to hold funds in trust as provided in this Section 4.03 is subject to the provisions of Section 11.06, and (ii) the Company or the Guarantor at any time, for the purpose of obtaining the satisfaction and discharge or
defeasance of this Indenture or for any other purpose, may pay, or direct any paying agent to pay, to the Trustee all funds held in trust by the Company or such paying agent, such funds to be held by the Trustee upon the same terms and conditions as
those upon which such funds were held by the Company or such paying agent. Upon such payment by any paying agent to the Trustee, such paying agent shall be released from all further liability with respect to such funds. 

Section 4.04 Statement by Officers as to Default. 

So long as any of the Securities remain outstanding, the Company will furnish to the Trustee, within 120 days after the end of each fiscal year
of the Company ending after the date hereof, a brief certificate (which need not comply with Section 13.06) executed by the principal executive, financial or accounting officer of the Company on its behalf as to his or her knowledge of the
Company’s compliance with all covenants and agreements under this Indenture required to be complied with by the Company (such compliance to be determined without regard to any period of grace or requirement of notice provided under this
Indenture). Such certificate need not include a reference to any non-compliance that has been fully cured prior to the date as of which such certificate speaks. 

The Company shall provide written notice to the Trustee within 20 days after becoming aware of the occurrence of any Event of Default under
Section 6.01. 
 Section 4.05 Appointment to Fill Vacancy in Office of Trustee. 

The Company, whenever necessary to avoid or to fill a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 7.10, a Trustee, so that there shall be at all times a Trustee hereunder. 
 Section 4.06 Existence. 

Subject to Article X and Article XIV, each of the Company and the Guarantor will do or cause to be done all things necessary to preserve and
keep in full force and effect its existence. 
 Section 4.07 Limitations on Liens. 

The Guarantor will not, and will not permit any of its Subsidiaries to, create, incur, assume or otherwise cause to become effective any Lien
(other than Permitted Liens) on any Principal Property or upon shares of stock of any Principal Subsidiary (whether such Principal Property or shares are now existing or owned or hereafter created or acquired), to secure any indebtedness of the
Guarantor, any of its Subsidiaries or any indebtedness of any other Person, unless the Guarantor or such Subsidiary also secures all payments due under all Securities (and the related Guarantee) of any series having the benefit of this Section
(together with, if the Guarantor shall so 

  
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determine, any other indebtedness of the Guarantor or any Subsidiary of the Guarantor then existing or thereafter created ranking equally with the Securities, the Guarantee or such Subsidiary
indebtedness), on an equal and ratable basis with such other indebtedness so secured (or, in the case of indebtedness subordinated to the Securities, the Guarantee or the Subsidiary indebtedness, prior or senior thereto, with the same relative
priority as the Securities, the Guarantee or the Subsidiary indebtedness will have with respect to such subordinated indebtedness) for so long as such other indebtedness shall be so secured. The foregoing prohibition shall not apply to any of the
following Liens (“Permitted Liens”): 
 (a) Liens existing on the date when the Company first issues Securities pursuant to
this Indenture; 
 (b) Liens on property owned or leased by a Person existing at the time such Person is merged with or into or consolidated
with the Guarantor or any of its Subsidiaries or the Guarantor or one or more of its Subsidiaries acquires directly or indirectly all or substantially all of the stock or assets of such Person; provided that such Liens were in existence prior to the
contemplation of such merger, consolidation or acquisition and do not extend to any assets other than those of the Person merged into, consolidated with or acquired by the Guarantor or such Subsidiary; 

(c) Liens on property existing at the time of acquisition thereof by the Guarantor or any of its Subsidiaries, provided that such Liens were
in existence prior to the contemplation of such acquisition and do not extend to any property other than the property so acquired by the Guarantor or such Subsidiary; 

(d) Liens to secure indebtedness incurred prior to, at the time of or within 18 months after the later of the acquisition of any property and
the completion of the construction, alteration, repair or improvement of any property, as the case may be, for the purpose of financing all or a part of the purchase price thereof or cost of the construction, alteration, repair or improvement
thereof and Liens to the extent they secure indebtedness in excess of such purchase price or cost and for the payment of which recourse may be had only against such property; 

(e) Liens in favor of the United States or any state, territory or possession thereof (or the District of Columbia), or any department,
agency, instrumentality or political subdivision of the United States or any state, territory or possession thereof (or the District of Columbia), to secure partial, progress, advance or other payments pursuant to any contract or statute or to
secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or improving the property subject to such Liens; 

(f) any Lien securing indebtedness of a Subsidiary of the Guarantor owing to the Guarantor or to one or more of its Subsidiaries; 

(g) Liens incurred or assumed in connection with the issuance of revenue bonds the interest on which is exempt from federal taxation pursuant
to Section 103 of the Code; 
 (h) Liens created, incurred or assumed in connection with an industrial revenue bond, pollution control
bond or similar financing between the Guarantor or any of its Subsidiaries and any federal, state or municipal government or other government body or quasi-governmental agency; 

  
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 (i) any extension, renewal or replacement (or successive extensions, renewals or replacements) in
whole or in part of any Lien referred to in clauses (a) through (h) above, inclusive, so long as (1) the principal amount of the indebtedness secured thereby does not exceed the principal amount of indebtedness so secured at the time
of the extension, renewal or replacement (except that, where an additional principal amount of indebtedness is incurred to provide funds for the completion of a specific project, the additional principal amount, and any related financing costs, may
be secured by the Lien as well) and (2) the Lien is limited to the same property subject to the Lien so extended, renewed or replaced (and improvements on the property); and 

(j) any Lien on a Principal Property or the shares of stock of a Principal Subsidiary that would not otherwise be permitted by clauses
(a) through (i) above, inclusive, securing indebtedness which, together with: 
 (i) the aggregate outstanding principal amount
of all other indebtedness of the Guarantor and its Subsidiaries secured by Liens on a Principal Property or the shares of stock of a Principal Subsidiary that is permitted solely pursuant to this clause (j), and 

(ii) the aggregate Value of existing Sale and Leaseback Transactions that are permitted solely pursuant to clause (c) of
Section 4.08 and are still in existence, 
 does not exceed 10% of Consolidated Net Assets. 

Section 4.08 Limitation on Sale/Leaseback Transactions. 

The Guarantor will not, and will not permit any of its Subsidiaries to, enter into any Sale and Leaseback Transaction with respect to any
Principal Property unless: 
 (a) the Guarantor or such Subsidiary could incur indebtedness, in a principal amount at least equal to the
Value of such Sale and Leaseback Transaction, secured by a Lien on the Principal Property to be leased (without equally and ratably securing debt securities of any series having the benefit of this covenant, including the any series of Securities)
pursuant to clauses (a) through (i) under Section 4.07 above; 
 (b) the Guarantor or any Subsidiary of the Guarantor
applies, during the six months following the effective date of the Sale and Leaseback Transaction, an amount equal to the Value of the Sale and Leaseback Transaction to either (or a combination of) the voluntary retirement of Funded Debt or to the
acquisition of property; or 
 (c) the aggregate Value of such Sale and Leaseback Transaction plus the Value of all other Sale and Leaseback
Transactions of Principal Properties, entered into after the date the Company first issues Securities under this Indenture, permitted solely by this clause (c) and still in existence, plus the aggregate outstanding amount of all indebtedness
secured by Liens permitted solely by clause (j) of Section 4.07 above does not exceed 10% of Consolidated Net Assets. 
 Section
4.09 Business Activities. 
 The Company will not engage in any activities or take any action that would be inconsistent with the
definition of “finance subsidiary” within the meaning of Rule 3-10 of Regulation S-X under the Securities Act. 

  
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 ARTICLE V 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.01 Company to Furnish Trustee Names and Addresses of Securityholders. 

The Company will furnish or cause to be furnished to the Trustee (a) semi-annually at least seven Business Days before each Interest
Payment Date for a series of Securities (and in all events at intervals of not more than six months) a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such date,
provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company and (b) at such other times as
the Trustee may require in writing within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in
either case, no such list need be furnished for any series for which the Trustee shall be the Security Registrar. 
 Section 5.02
Preservation of Information; Communications with Securityholders. 
 (a) The Trustee shall preserve, in as current a form as is
reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses of holders of Securities received
by the Trustee in its capacity as Security Registrar (if acting in such capacity). 
 (b) Securityholders may communicate as provided in
Section 312(b) of the Trust Indenture Act with other Securityholders with respect to their rights under this Indenture or under the Securities. 

Section 5.03 Reports by the Company. 

(a) So long as any Securities are outstanding, the Company and the Guarantor shall file with the Trustee, within 15 days after it files with
the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company or the
Guarantor, as applicable, is required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act. The Company and the Guarantor also shall comply with the provisions of Section 314(a) of the Trust
Indenture Act. The Company and the Guarantor, as applicable, shall be deemed to have complied with the previous sentence to the extent that such information, documents and reports are filed with the Commission via EDGAR (or any successor electronic
delivery procedure) or posted on its website. 
 (b) 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 and the Guarantor’s compliance
with any of their respective covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 

  
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 Section 5.04 Reports by the Trustee. 

(a) Any Trustee’s report required under Section 313(a) of the Trust Indenture Act shall be transmitted on or before July 15 in
each year following the date hereof, so long as any Securities are outstanding hereunder, and shall be dated as of a date convenient to the Trustee no more than 60 nor less than 45 days prior thereto. 

(b) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company, with any
stock exchange upon which any Securities are listed and with the Commission. The Company agrees to notify the Trustee when any Securities become listed on any stock exchange or delisted therefrom. 

ARTICLE VI 
 REMEDIES OF
THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 
 Section 6.01 Events of Default. 

(a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the
following events that has occurred and is continuing, except with respect to any series of Securities for which the supplemental indenture or resolution of the Board of Directors of the Company under which such series of Securities is issued or in
the form of Security for such series expressly provides that any such Event of Default shall not apply to such series of Securities: 
 (1)
default in the payment of the principal or any premium on any Security of that series when due (whether at maturity, upon acceleration, redemption or otherwise); 

(2) default for 30 days in the payment of interest on any Security of such series when due; 

(3) failure by the Company or the Guarantor, as applicable, to observe or perform any term of this Indenture (other than those referred to in
(1) or (2) above and other than a covenant or agreement included in this Indenture not for the benefit of such series) for a period of 90 days after the Company or the Guarantor, as applicable, receives a notice of default stating that the
Company or the Guarantor, as applicable, is in breach. The notice must be sent by either the Trustee or Holders of 25% of the principal amount of the Securities of the affected series; 

(4) (A) failure by the Company or the Guarantor to pay indebtedness for money borrowed by the Company or the Guarantor or for which the
Company or the Guarantor has guaranteed the payment, in an aggregate principal amount of at least $150,000,000, at the later of final maturity and the expiration of any related applicable grace period and such defaulted payment shall not have been
made, waived or extended within 30 days or (B) acceleration of the maturity of any indebtedness for money borrowed by the Company or the Guarantor or for which the Company or the Guarantor has guaranteed the payment, in an aggregate principal
amount of at least $150,000,000, if such indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 30 days; provided, however, that, if the default under the

  
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instrument is cured by the Company or the Guarantor, or waived by the holders of the indebtedness, in each case as permitted by the governing instrument, then the Event of Default under this
Indenture caused by such default will be deemed likewise to be cured or waived; 
 (5) the entry by a court having competent jurisdiction
of: 
 (A) an order for relief in respect of the Company or the Guarantor in an involuntary proceeding under any Bankruptcy Law and such
order shall remain unstayed and in effect for a period of 60 consecutive days; or 
 (B) a final and non-appealable order appointing a
Custodian, of the Company or the Guarantor, or ordering the winding up or liquidation of the affairs of the Company or the Guarantor, and such order shall remain unstayed and in effect for a period of 60 consecutive days; 

(6) the commencement by the Company or the Guarantor of a voluntary proceeding under any Bankruptcy Law or the consent by the Company or the
Guarantor to the entry of a decree or order for relief in an involuntary proceeding under any Bankruptcy Law or the filing by the Company or the Guarantor of a consent to an order for relief in any involuntary proceeding under any Bankruptcy Law or
to the appointment of a Custodian or the making by the Company or the Guarantor of an assignment for the benefit of creditors; 
 (7) the
Guarantee of such Securities is determined in a final, non-appealable judgment to be unenforceable or invalid or such Guarantee is asserted in writing by the Company or the Guarantor to no longer be in full force and effect and enforceable in
accordance with its terms; or 
 (8) any other Event of Default provided in the supplemental indenture or resolution of the Board of
Directors of the Company under which such series of Securities is issued or in the form of Security for such series. 
 (b) In each and
every such case (other than an Event of Default specified in Section 6.01(a)(5) or 6.01(a)(6)), unless the principal of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less
than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company and the Guarantor (and to the Trustee if given by such Securityholders), may declare the unpaid principal of all
the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable. If an Event of Default specified in Section 6.01(a)(5) or 6.01(a)(6) occurs, the
principal amount of all the Securities shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. 

(c) At any time after the principal of the Securities of that series shall have been so declared due and payable, and before any judgment or
decree for the payment of the amount due shall have been obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its consequences if: (i) the Company has or has caused to be paid or deposited with the Trustee an amount sufficient to pay 

  
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all matured installments of interest upon all the Securities of that series and the principal of and premium, if any, on any and all Securities of that series that shall have become due otherwise
than by acceleration (with interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon overdue installments of interest, at the rate expressed in the Securities of that series to
the date of such payment or deposit), and (ii) any and all Events of Default under this Indenture with respect to such series, other than the nonpayment of principal, premium, if any, or interest, if any, on Securities of that series that shall
have become due solely by such declaration of acceleration, shall have been remedied or waived as provided in Section 6.06. 
 No such
rescission and annulment shall extend to or shall affect any subsequent default or impair any right consequent thereon. 
 (d) In case the
Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall
have been determined adversely to the Trustee, then and in every such case, subject to any determination in such proceedings, the Company, the Guarantor and the Trustee shall be restored respectively to their former positions and rights hereunder,
and all rights, remedies and powers of the Company, the Guarantor and the Trustee shall continue as though no such proceedings had been taken. 

(e) The Trustee shall give to the Securityholders of any series, as the names and addresses of such Holders appear on the Security Register,
notice of all defaults known to the Trustee that have occurred with respect to such series, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the
term “default” or “defaults” for the purposes of this Section 6.01(e) being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that,
except in the case of default in the payment of the principal of, premium, if any, or interest on any of the Securities of such series, or in the payment of any sinking or purchase fund installment with respect to the Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers in good faith determines that the withholding of such
notice is in the interests of the Securityholders of such series. 
 Section 6.02 Collection of Indebtedness and Suits for
Enforcement by Trustee. 
 (a) The Company and the Guarantor jointly and severally covenant that (i) in case a default in the
payment of any installment of interest on any of the Securities of a series, or a default in any payment required by any sinking or analogous fund established with respect to that series as and when the same shall have become due and payable, occurs
and such default shall have continued for a period of 30 days, or (ii) in case a default in the payment of the principal of, or premium, if any, on any of the Securities of a series when the same shall have become due and payable, whether upon
maturity of the Securities of a series or upon redemption or upon declaration or otherwise, occurs, then, upon demand of the Trustee, the Company or the Guarantor will pay to the Trustee, for the benefit of the holders of the Securities of that
series, the whole amount that then shall have been become due and payable on all such Securities for principal, 

  
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premium, if any, or interest, or both, with interest upon the overdue principal, premium, if any, and (to the extent that payment of such interest is enforceable under applicable law) upon
overdue installments of interest at the rate expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under
Section 7.06. 
 (b) If the Company or the Guarantor shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the amounts so due and unpaid, and may prosecute any such action or proceeding to judgment or
final decree, and may enforce any such judgment or final decree against the Company or the Guarantor and collect the amounts adjudged or decreed to be payable in the manner provided by law out of the property of the Company, wherever situated. 

(c) In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial
proceedings affecting the Company, the Guarantor or their respective creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the court and, except as otherwise
provided by law, shall be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of such series allowed for the entire amount
due and payable by the Company or the Guarantor under this Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company or the Guarantor after such date, and to collect and
receive any funds or other property payable or deliverable on any such claim, and to distribute the same in accordance with Section 6.03. Any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the
holders of Securities of such series to make such payments to the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under
Section 7.06. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of the terms established with
respect to Securities of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto. Any such suit or proceeding instituted by the Trustee
shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the Securities
of such series. 
 In case of an Event of Default, the Trustee in its discretion may proceed to protect and enforce the rights vested in it
by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any
covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

  
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 Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the
claim of any Securityholder in any such proceeding. 
 Section 6.03 Application of Funds Collected. 

Any funds collected by the Trustee pursuant to this Article VI with respect to a particular series of Securities shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such funds on account of principal, premium, if any, or interest, upon presentation of the Securities of that series, and notation thereon the payment, if
only partially paid, and upon surrender thereof if fully paid: 
 FIRST: To the payment of costs and expenses of collection and of all
amounts payable to the Trustee under Section 7.06; 
 SECOND: To the payment of the amounts then due and unpaid upon Securities of such
series for principal, premium, if any, and interest, in respect of which or for the benefit of which such funds have been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for
principal, premium, if any, and interest, respectively; and 
 THIRD: To the Company or the Guarantor, as their interests may appear. 

Section 6.04 Limitation on Suits. 

No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any suit,
action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (i) such holder previously shall have given to the Trustee
written notice of an Event of Default and of the continuance thereof with respect to the Securities of such series specifying such Event of Default; (ii) the holders of not less than 25% in aggregate principal amount of the Securities of such
series then Outstanding shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (iii) such holder or holders shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred therein or thereby; (iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit
or proceeding; and (v) during such 60 day period, the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 

Notwithstanding anything contained herein to the contrary, any other provisions of this Indenture, the right of any holder of any Security to
receive payment of the principal of, and premium, if any, and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on the redemption date), or to institute
suit for the enforcement of any such payment on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder. By 

  
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accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee,
that no one or more holders of Securities of such series shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such
Securities, or to obtain or seek to obtain priority over or preference to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of
Securities of such series. For the protection and enforcement of the provisions of this Section 6.04, each Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

Section 6.05 Rights and Remedies Cumulative; Delay or Omission not Waiver. 

(a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article VI to the Trustee or to the
Securityholders, to the extent permitted by law, shall be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 

(b) No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of
Default occurring and continuing shall impair any such right or power, or shall be construed to be a waiver of any such default or on acquiescence therein. Subject to the provisions of Section 6.04, every power and remedy given by this Article
VI or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 

Section 6.06 Control by Securityholders. 

The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with
Section 8.04, shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to such series; provided,
however, that such direction shall not be in conflict with any rule of law or with this Indenture or be unduly prejudicial to the rights of holders of Securities of any other series at the time Outstanding determined in accordance with
Section 8.04. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith, by a Responsible Officer or Responsible Officers of the Trustee, shall
determine that the proceeding so directed would involve the Trustee in personal liability. The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance
with Section 8.04, by written notice to the Company and the Trustee, on behalf of the holders of all of the Securities of such series, may rescind an acceleration or waive any existing Default or Event of Default with respect to such series and
its consequences, if the rescission would not conflict with any judgment or decree, except (i) a default in the payment of the principal of, premium, if any, or interest on, any of the Securities of that series; or (ii) in respect of a
covenant or provision hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. Upon any such 

  
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waiver, the default covered thereby shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for all purposes of this Indenture and the Company, the
Guarantor, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent
thereon. 
 Section 6.07 Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of any Securities by such holder’s acceptance thereof shall be deemed to have agreed,
that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits
and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 6.07 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders,
holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of, premium, if any, or interest on any Security of
such series, on or after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 Section 6.08
Waiver of Usury, Stay Or Extension Laws. 
 Each of the Company and the Guarantor covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or
the performance of this Indenture; and each of the Company and the Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not, by resort to any such law,
hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE VII 
 CONCERNING
THE TRUSTEE 
 Section 7.01 Certain Duties and Responsibilities of Trustee. 

(a) In case an Event of Default with respect to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall
exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of his or her own affairs. 

  
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 (b) No provision of this Indenture shall be construed to relieve the Trustee from liability for
its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1) prior to the occurrence of
an Event of Default with respect to the Securities of a series and after the curing or waiving of all such Events of Default with respect to that series that may have occurred: 

(i) the duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express
provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the absence of bad faith on the part of the Trustee, the
Trustee with respect to the Securities of such series may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or
not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical computations or other facts stated therein); 

(2) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the
Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee shall not be
liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding relating to
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and 

(4) none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms
of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 
 Section 7.02 Certain Rights of
Trustee. 
 Except as otherwise provided in Section 7.01: 

(a) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security or other paper or document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the proper
party or parties. 

  
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 (b) Any request, direction, order or demand of the Company or the Guarantor mentioned herein
shall be sufficiently evidenced by a Board Resolution or an instrument signed in the name of the Company or the Guarantor, as applicable, by an Officer (unless other evidence in respect thereof is specifically prescribed herein). 

(c) The Trustee may consult with counsel of its own selection and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon. 

(d) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or
direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee indemnity satisfactory to it against the costs, expenses and liabilities that may be incurred
therein or thereby. 
 (e) The Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by
it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture, provided, however, that the Trustee’s conduct does not constitute willful misconduct, bad faith or negligence. 

(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security or other papers or documents, but the Trustee, in its discretion, may make such further inquiry into such matters as it may see fit, and if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled upon reasonable notice and at reasonable times to examine the books, records and premises of the Company or the Guarantor, personally or by agent or attorney at the sole
cost of the Company or the Guarantor and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(g) The Trustee shall not be deemed to have notice of any Event of Default unless a Responsible Officer of the Trustee has actual knowledge
thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee. 

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

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including 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. 

(j) The Trustee may request that the Company or the Guarantor deliver an Officer’s Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as
so authorized in any such certificate previously delivered and not superseded. 

  
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 In no event shall the Trustee be responsible or liable for special, 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. 

Section 7.03 Trustee not Responsible for Recitals or Issuance of Securities. 

(a) The recitals contained herein and in the Securities shall be taken as the statements of the Company and the Guarantor, as the case may be,
and the Trustee assumes no responsibility for the correctness of the same. 
 (b) The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities. 
 (c) The Trustee shall not be accountable for the use or application by the Company or
the Guarantor of any of the Securities or of the proceeds of such Securities, or for the use or application of any funds paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for
the use or application of any funds received by any paying agent other than the Trustee. 
 Section 7.04 May Hold
Securities. 
 The Trustee or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or
pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. However, the Trustee is subject to Sections 7.09 and 7.13. 

Section 7.05 Funds Held in Trust. 

Subject to the provisions of Section 11.06, all funds received by the Trustee, until used or applied as herein provided, shall be held in
trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any funds received by it hereunder except such as it may
agree with the Company or the Guarantor to pay thereon. 
 Section 7.06 Compensation and Reimbursement. 

(a) The Company, and if the Company fails to do so, the Guarantor, shall pay to the Trustee, and the Trustee shall be entitled to be paid, such
compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company and the Trustee from time to time may agree in writing, for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee. Except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all
reasonable expenses and disbursements incurred or made by the Trustee in accordance with any of the provisions of this 

  
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Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense or disbursement as shall
have been caused by its own negligence, willful misconduct or bad faith. The Company, and if the Company fails to do so, the Guarantor, shall indemnify the Trustee (and its officers, agents, directors and employees) for, and shall hold it harmless
against, any and all loss, liability, claim, damage or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred without negligence, willful misconduct or bad faith on the part of the
Trustee and arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any claim of liability (whether asserted by the Company, the Guarantor, any Holder or any
other Person). The Trustee shall notify the Company and the Guarantor promptly of any claim for which it may seek indemnity. Failure by the Trustee so to notify the Company and the Guarantor shall not relieve the Company or the Guarantor of its
obligations hereunder, except to the extent that the Company or the Guarantor has been prejudiced by such failure. The Company or the Guarantor shall defend the claim and the Trustee shall cooperate, to the extent reasonable, in the defense of any
such claim, and, if (in the opinion of counsel to the Trustee) the facts and/or issues surrounding the claim are reasonably likely to create a conflict with the Company or the Guarantor, the Company or the Guarantor, as applicable, shall pay the
reasonable fees and expenses of separate counsel to the Trustee. Neither the Company nor the Guarantor need reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful
misconduct, negligence or bad faith. Neither the Company nor the Guarantor need pay for any settlement made without its consent, which consent shall not be unreasonably withheld or delayed. 

(b) The obligations of the Company and the Guarantor under this Section 7.06 to compensate and indemnify the Trustee and to pay or
reimburse the Trustee for expenses and disbursements shall: (i) be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders
of particular Securities; and (ii) survive the termination of this Indenture and resignation or removal of the Trustee. 
 (c) When the
Trustee incurs expenses or renders services in connection with an Event of Default, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 
 Section 7.07 Reliance on
Officer’s Certificate. 
 Except as otherwise provided in Section 7.01, whenever in the administration of the provisions of
this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence in respect thereof be herein
specifically prescribed), in the absence of negligence or bad faith on the part of the Trustee, may be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee and such certificate, in the absence of
negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof. 

  
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 Section 7.08 Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture Act,
the Trustee and the Company and the Guarantor shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 

Section 7.09 Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and
doing business under the laws of the United States or any State or Territory thereof or of the District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least $100,000,000, and subject to supervision or examination by Federal, State, Territorial, or District of Columbia authority. If such corporation publishes reports of condition at least
annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 7.09 the combined capital and surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. None of the Company, the Guarantor, nor any Affiliate of the Company or the Guarantor may, serve as Trustee. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section 7.09, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 

Section 7.10 Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed may resign at any time with respect to the Securities of one or more series by giving
written notice thereof to the Company and the Guarantor, no later than 30 days prior to the proposed date of resignation, and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders of such series, as their
names and addresses appear upon the Security Register. Upon receiving such notice of resignation, the Company or the Guarantor promptly shall appoint a successor trustee with respect to Securities of such series. If no successor trustee shall have
been so appointed and have accepted appointment within 60 days after the retiring Trustee resigns, the retiring Trustee, at the expense of the Company, or the Company or the Guarantor may petition any court of competent jurisdiction for the
appointment of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least six months may on behalf of himself and all others similarly
situated, petition any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any one of the following shall occur, the Company or the Guarantor, upon 30 days prior written notice to the Trustee,
may remove the Trustee with respect to all or any series of Securities and appoint a successor trustee, or, unless the Trustee’s duty to resign is stayed as provided herein, any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months, on behalf of that holder and all others similarly situated, may petition any court of competent jurisdiction for the removal of the Trustee and the 

  
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appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee: 

(1) the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company, the Guarantor or
by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (2) the Trustee shall
cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request therefor by the Company, the Guarantor or by any such Securityholder; or 

(3) the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy
proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation. 
 If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the
giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

(c) The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding at any time may remove the
Trustee with respect to such series upon 30 days’ written notice to the Trustee, the Company and the Guarantor and may appoint a successor Trustee for such series with the consent of the Company and the Guarantor. 

(d) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to
any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(e) Any successor trustee appointed pursuant to this Section 7.10 may be appointed with respect to the Securities of one or more series
or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 

Section 7.11 Acceptance of Appointment By Successor. 

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

  
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 (b) In case of the appointment hereunder of a successor trustee with respect to the Securities of
one or more (but not all) series, the Company, the Guarantor, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
trustee shall accept such appointment and which (i) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates, (ii) shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (iii) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such
Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for
any act or failure to act on the part of any other Trustee hereunder. Upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, and such
retiring Trustee shall have no further responsibility with respect to the Securities of that or those series to which the appointment of such successor trustee relates for the exercise of rights and powers or for the performance of the duties and
obligations vested in the Trustee under this Indenture. Each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor trustee relates. On request of the Company, the Guarantor or any successor trustee, such retiring Trustee shall assign, transfer and deliver to such successor trustee, to
the extent contemplated by such supplemental indenture, the property and funds held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor trustee relates. 

(c) Upon request of any such successor trustee, the Company or the Guarantor may execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and trusts referred to in Section 7.11 (a) or (b), as the case may be. 

(d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and
eligible under this Article VII. 
 (e) Upon acceptance of appointment by a successor trustee as provided in this Section 7.11, the
successor trustee shall cause a notice of its succession to be transmitted to Securityholders. 
 Section 7.12 Merger, Conversion,
Consolidation or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the 

  
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corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions of Section 7.08 and eligible
under the provisions of Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if
such successor Trustee had itself authenticated such Securities. 
 Section 7.13 Preferential Collection of Claims Against the
Company. 
 The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described
in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

ARTICLE VIII 

CONCERNING THE SECURITYHOLDERS 

Section 8.01 Evidence of Action by Securityholders. 

Whenever in this Indenture it is provided that the holders of a majority or specified percentage in aggregate principal amount of the
Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the holders of
such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of Securities of that series in Person or by agent or proxy appointed
in writing. 
 The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any
series entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, provided,
however, that the Company may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any record
date is set pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such
record date; provided, however, that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date.
Nothing in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall
automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the
relevant series on the date such action is taken. Promptly after any 

  
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record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be
given to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 13.03. 

The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to
join in the giving or making of (i) any notice of Default, (ii) any declaration of acceleration referred to in Section 6.01, (iii) any request to institute proceedings referred to in Section 6.04 or (iv) any direction
referred to in Section 6.06, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders, shall be
entitled to join in such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided, however, that no such action shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the Trustee from setting a new record date for any action for which a
record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and of no effect), and nothing in this paragraph shall be construed to render
ineffective any action taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the
Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company and the Guarantor in writing and to each Holder of Securities of the relevant series in the
manner set forth in Section 13.03. 
 With respect to any record date set pursuant to this Section, the party hereto which sets such
record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided, however, that no such change shall be effective unless notice of the proposed new
Expiration Date is given to the other party or parties hereto, as applicable, in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 13.03, on or prior to the existing Expiration Date. If an
Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record date as the Expiration Date with
respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the applicable record date. 

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

  
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 Section 8.02 Proof of Execution by Securityholders. 

Subject to the provisions of Section 8.01, proof of the execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 

(a) The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.

 (b) The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar
thereof. 
 (c) The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary. 

Section 8.03 Who May be Deemed Owners. 

Prior to the due presentment for registration of transfer of any Security, the Company, the Guarantor, the Trustee, any paying agent and any
Security Registrar may deem and treat the Person in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of
ownership or writing thereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other
purposes; and none of the Company, the Guarantor, the Trustee, any paying agent nor any Security Registrar shall be affected by any notice to the contrary. 

None of the Company, the Guarantor, the Trustee, any paying agent or the Security Registrar will have any responsibility or liability for any
aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Section 8.04 Certain Securities Owned by Company or Guarantor Disregarded. 

In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any
direction, consent of waiver under this Indenture, the Securities of that series that are owned by the Company, the Guarantor or any other obligor on the Securities of that series or by an Affiliate of the Company or the Guarantor shall be
disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities of such
series that a Responsible Officer of the Trustee knows are so owned shall be so disregarded. The Securities so owned that have been pledged in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish
to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not an Affiliate. In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall
be full protection to the Trustee. Upon request of the Trustee, the Company shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Securities of a particular series, if any known by the Company to be owned or
held by or for the account of any of the above described Persons and, subject to Sections 7.01 and 7.02, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact
that all Securities of such particular series not listed therein are Outstanding for the purpose of any such determination. 

  
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 Section 8.05 Actions Binding on Future Securityholders. 

At any time prior to the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the
majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that is shown by the evidence to be included in the
Securities the holders of which have consented to such action, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, may revoke such action so far as concerns such Security. Except as aforesaid, any
such action taken by the holder of any Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor, on registration of transfer thereof or in
place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified
in this Indenture in connection with such action shall be conclusively binding upon the Company, the Guarantor, the Trustee and the holders of all the Securities of that series. 

ARTICLE IX 

SUPPLEMENTAL INDENTURES 

Section 9.01 Supplemental Indentures Without the Consent of Securityholders. 

In addition to any supplemental indenture otherwise authorized by this Indenture, the Company, the Guarantor and the Trustee from time to time
and at any time may enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of the Securityholders, for one or more of the following
purposes: 
 (a) to cure any ambiguity, defect, or inconsistency herein or in the Securities of any series; 

(b) to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the
Board of Directors of the Company may deem necessary or desirable, and which shall not in each case adversely affect the interests of the Holders of the Securities in any material respect; 

(c) to evidence the succession of another Person to the Company or the Guarantor, or successive successions, and the assumption by the
successor Person of the covenants, agreements and obligations of the Company or the Guarantor, as the case may be, pursuant to Article X and Section 14.02; 

(d) to provide for uncertificated Securities in addition to or in place of certificated Securities; 

  
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 (e) to add to the covenants of the Company or the Guarantor for the benefit of the holders of all
or any outstanding series of Securities (and if such covenants are to be for the benefit of less than all outstanding series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to
surrender any right or power herein conferred upon the Company or the Guarantor; 
 (f) to add any additional Events of Default for the
benefit of the holders of all or any outstanding series of Securities (and if such Events of Default are to be applicable to less than all outstanding series, stating that such Events of Default are expressly being included solely to be applicable
to such series); 
 (g) to change or eliminate any of the provisions of this Indenture, provided that any such change or elimination shall
not become effective with respect to any outstanding Security of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; 

(h) to secure the Securities of any series; 

(i) to make any other change that does not adversely affect the rights of any Securityholder of Outstanding Securities in any material
respect; 
 (j) to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to provide which, if any, of the covenants of the Company or the Guarantor shall apply to such series, and to provide which of the Events of Default shall apply to such series or to define the rights of the holders of such
series of Securities; 
 (k) to comply with requirements of the Commission in order to effect or maintain the qualification of this
Indenture under the Trust Indenture Act; 
 (l) to issue additional Securities of any series; provided that such additional Securities have
the same terms as, and be deemed part of the same series as, the applicable series of Securities issued hereunder to the extent required by Section 2.01(b); or 

(m) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more
series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trust hereunder by more than one Trustee. 

Upon the request of the Company, accompanied by Board Resolutions authorizing the execution of any such supplemental indenture, and upon
receipt by the Trustee of the documents described in Section 9.05, the Trustee shall join with the Company and the Guarantor in the execution of any such supplemental indenture, and make any further appropriate agreements and stipulations that
may be therein contained. 
 Any supplemental indenture authorized by the provisions of this Section 9.01 may be executed by the
Company, the Guarantor and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

  
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 Section 9.02 Supplemental Indentures with Consent of Securityholders. 

With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate principal amount of the
Securities of each series at the time Outstanding affected by such supplemental indenture or indentures, the Company and the Guarantor, when authorized by Board Resolutions, and the Trustee from time to time and at any time may enter into an
indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture,
without the consent of the holders of each Security then Outstanding and affected thereby, shall (i) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal amount
thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.01(b), or change any place of payment where, or the coin or Currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the redemption date), or (ii) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent
of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in
this Indenture, (iii) release the Guarantor from its obligations in respect of its Guarantee of any series or modify the Guarantee of any series other than in accordance with the provisions of this Indenture, or (iv) modify any of the
provisions of this Section or Section 6.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security
affected thereby. 
 A supplemental indenture that changes or eliminates any covenant, Event of Default or other provision of this Indenture
that has been expressly included solely for the benefit of one or more particular series of Securities, if any, or which modifies the rights of the holders of Securities of such series with respect to such covenant, Event of Default or other
provision, shall be deemed not to affect the rights under this Indenture of the holders of Securities of any other series. 
 It shall not
be necessary for the consent of Securityholders of a series affected thereby under this Section 9.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance
thereof. 
 Promptly after the execution by the Company, the Guarantor and the Trustee of any supplemental indenture pursuant to the
provisions of this Section 9.02, the Company or the Guarantor shall mail or caused to be mailed a notice thereof by first class mail to the Holders of Securities of each series affected thereby at their addresses as they shall appear on the
Security Register, setting forth in general terms the substance of such supplemental indenture. Any failure of the Company or the Guarantor to mail such notice, or any defect therein, shall not in any way impair or affect the validity of any such
supplemental indenture. 

  
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 Section 9.03 Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture pursuant to the provisions of this Article IX, Section 10.01 or Section 14.02, this
Indenture shall be and be deemed to be modified and amended with respect to such series in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company,
the Guarantor and the holders of Securities of the series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

Section 9.04 Securities Affected by Supplemental Indentures. 

Securities of any series affected by a supplemental indenture and authenticated and delivered after the execution of such supplemental
indenture pursuant to the provisions of this Article or of Sections 10.01 or 14.02 may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange upon which such series may be listed, as to any matter
provided for in such supplemental indenture. If the Company shall so determine, new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any
such supplemental indenture may be prepared by the Company, executed by the Company and the Guarantor authenticated by the Trustee and delivered in exchange for the Securities of that series then Outstanding. 

Section 9.05 Execution of Supplemental Indentures. 

Upon the request of the Company, accompanied by Board Resolutions authorizing the execution of any such supplemental indenture, and, if
applicable, upon the filing with the Trustee of evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company and the Guarantor in the execution of such supplemental indenture unless
such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee in its discretion may but shall not be obligated to enter into such supplemental indenture. The
Trustee, subject to the provisions of Section 7.01, shall receive an Opinion of Counsel and Officer’s Certificate as conclusive evidence that any supplemental indenture executed pursuant to this Article IX is authorized or permitted by,
and conforms to, the terms of this Article IX. 

  
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 ARTICLE X 

SUCCESSOR 

Section 10.01 Consolidation, Merger and Sale of Assets. 

The Company shall not consolidate with, merge with or into, or sell, convey, transfer, lease or otherwise dispose of all or substantially all
of the property and assets of the Company or the Company’s Subsidiaries taken as a whole (in one transaction or a series of related transactions) to, any Person or permit any Person to merge with or into it unless: 

(a) The Company or the Guarantor shall be the continuing Person, or the Person (if other than the Company or the Guarantor) formed by such
consolidation or into which the Company is merged or that acquired or leased such property and assets, shall be a Person validly existing under the laws of the United States of America or any jurisdiction thereof, or a Person validly existing under
the laws of Switzerland, the United Kingdom, The Netherlands or any other member state of the European Union as of the date of this Indenture, and shall expressly assume, by a supplemental indenture, executed and delivered to the Trustee, all of the
Company’s obligations under this Indenture and the Securities; 
 (b) immediately after giving effect to such transaction, no Default
or Event of Default shall have occurred and be continuing; and 
 (c) the Company delivers to the Trustee an Officer’s Certificate and
Opinion of Counsel, in each case stating that such consolidation, merger or transfer and such supplemental indenture complies with this Section 10.01 and that all conditions precedent provided for herein relating to such transaction have been
complied with. 
 To the extent that a Board Resolution or supplemental indenture pertaining to any series provides for different provisions
relating to the subject matter of this Article X, the provisions in such Board Resolution or supplemental indenture shall govern for purposes of such series. 

Section 10.02 Successor Person Substituted. 

Upon any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property and
assets of the Company in accordance with Section 10.01 of this Indenture, the successor Person formed by such consolidation or into which the Company is merged or to which such sale, conveyance, transfer, lease or other disposition is made
shall succeed to and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company; provided that the Company shall not be released from
its obligation to pay the principal of, premium, if any, or interest on the Securities in the case of a lease of all or substantially all of its property and assets. 

ARTICLE XI 

SATISFACTION AND DISCHARGE 

Section 11.01 Applicability of Article. 

The provisions of this Article XI relating to defeasance of Securities shall be applicable to any series of Securities, except as otherwise
specified pursuant to Section 2.01 for any such series. 
 Section 11.02 Satisfaction and Discharge of Indenture. 

If at any time: 
 (a) either 

  
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 (i) the Company or the Guarantor shall have delivered or shall have caused to be delivered to
the Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities
for whose payment funds or U.S. Governmental Obligations (or Foreign Governmental Obligations, in the case of Securities denominated in a currency other than U.S. dollars) have theretofore been deposited in trust or segregated and held in trust by
the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.06; or 
 (ii) all such
Securities of a particular series not theretofore 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 or are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company or the Guarantor shall irrevocably deposit or cause to be deposited with the Trustee as trust funds, cash or U.S. Governmental Obligations (or Foreign
Governmental Obligations, in the case of Securities denominated in a currency other than U.S. dollars) that will generate enough cash, or a combination thereof sufficient to pay, in the Currency in which such Securities are payable, at maturity or
upon redemption all Securities of such series not theretofore delivered to the Trustee for cancellation, including principal, premium, if any, and interest due or to become due on such date of maturity or redemption date, as the case may be; 

(b) the Company or the Guarantor has paid or caused to be paid all other sums payable hereunder by the Company or the Guarantor with respect
to such series; and 
 (c) the Company or the Guarantor, as applicable, has delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series have been complied with, 

then this Indenture shall cease to be of further effect with respect to such series except for the following provisions that shall survive until the date of
maturity or redemption date, as the case may be: (A) the rights of Holders of Securities of such series to receive, solely from the trust fund described in Section 11.03(c) and as more fully set forth in such Section, payments in respect
of the principal of and any premium and interest on such Securities when due, (B) the Company’s and the Guarantor’s obligation with respect to such Securities under Sections 2.03, 2.04, 2.05, 2.07, 4.02, 4.03, 7.05 and 7.10 hereof,
(C) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article XI. Sections 7.06 and 11.06 shall survive to such date and thereafter, and the Trustee, on demand of the Company or the Guarantor and at
the cost and expense of the Company or the Guarantor, as applicable, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

Section 11.03 Defeasance and Discharge of Obligations; Covenant Defeasance. 

(a) If at any time: 
 (i) all
such Securities of a particular series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section 11.02 

  
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shall have been paid by the Company or the Guarantor by depositing irrevocably with the Trustee in trust funds or an amount of U.S. Governmental Obligations (or Foreign Governmental Obligations,
in the case of Securities denominated in a currency other than U.S. dollars) sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the Trustee for cancellation, including principal, premium,
if any, and interest due or to become due to such date of maturity or date fixed for redemption, as the case may be, and 
 (ii) the
Company or the Guarantor shall also pay or cause to be paid all other amounts payable hereunder by the Company or the Guarantor, as applicable, with respect to such series, 

then, after the date such funds, U.S. Governmental Obligations or Foreign Governmental Obligations, as the case may be, are deposited with the Trustee, the
obligations of the Company and the Guarantor under this Indenture with respect to such series shall cease to be of further effect except, to the extent applicable to each, for the following provisions that shall survive until such Securities shall
mature and be paid: (A) the rights of Holders of Securities of such series to receive, solely from the trust fund described in Section 11.03(c) and as more fully set forth in such Section, payments in respect of the principal of and any
premium and interest on such Securities when due, (B) the Company’s and the Guarantor’s respective obligations with respect to such Securities under Sections 2.03, 2.04, 2.05, 2.07, 4.02, 4.03, 7.05 and 7.10 hereof, (C) the
rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article XI. Thereafter, Sections 7.06 and 11.06 shall survive such satisfaction and discharge. 

(b) In addition, each of the Company and the Guarantor, at its option and at any time, by written notice executed by an Officer delivered to
the Trustee, may elect to have its obligations, to the extent applicable to each, under Sections 4.07, 4.08 and 5.03 and any covenant contained in Articles X and XV, and any other covenant contained in the Board Resolution or supplemental indenture
relating to such series pursuant to Section 2.01, discharged with respect to all Outstanding Securities of a series, this Indenture and any indentures supplemental to this Indenture insofar as such Securities are concerned (“covenant
defeasance”), such discharge to be effective on the date the conditions set forth in clauses (i) through (vii) of Section 11.03(c) are satisfied, and such Securities shall thereafter be deemed to be not
“Outstanding” for the purposes of any direction, waiver, consent or declaration of Securityholders (and the consequences of any thereof) in connection with such covenants, but shall continue to be “Outstanding” for all other
purposes under this Indenture. For this purpose, such covenant defeasance means that, with respect to the Outstanding Securities of a series, the Company and the Guarantor may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of reference in any such covenant to any other provision herein or in any other
document and such omission to comply shall not constitute an Event of Default under Section 6.01(a)(3) or otherwise, nor shall there be thereafter any event constituting an Event of Default under Section 6.01(a)(4), but except as specified
in this Section 11.03(b), the remainder of the Company’s and the Guarantor’s respective obligations under the Securities of such series, this Indenture, and any indentures supplemental to this Indenture with respect to such series
shall be unaffected thereby. 

  
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 (c) The following shall be the conditions to the application of Section 11.03 to the
Outstanding Securities of the applicable series: 
 (i) the Company or the Guarantor irrevocably deposits in trust with the Trustee or, at
the option of the Trustee, with a trustee satisfactory to the Trustee and the Company and the Guarantor under the terms of an irrevocable trust agreement in form and substance satisfactory to the Trustee, cash or U.S. Governmental Obligations (or
Foreign Governmental Obligations, in the case of Securities denominated in a currency other than U.S. dollars) that will generate cash sufficient to pay principal of, premium, if any, and interest on the Outstanding Securities of such series to
maturity or redemption, as the case may be, and to pay all other amounts payable by it hereunder, provided that (A) the trustee of the irrevocable trust shall have been irrevocably instructed to pay such funds or the proceeds of such U.S.
Governmental Obligations or the proceeds of such Foreign Governmental Obligations to the Trustee and (B) the Trustee shall have been irrevocably instructed to apply such funds or the proceeds of such U.S. Governmental Obligations or the
proceeds of such Foreign Governmental Obligations to the payment of said principal, premium, if any, and interest with respect to the Securities of such series; 

(ii) the Company or the Guarantor, as applicable, delivers to the Trustee an Officer’s Certificate stating that all conditions precedent
specified herein relating to defeasance or covenant defeasance, as the case may be, have been complied with, and an Opinion of Counsel to the same effect; 

(iii) no Event of Default under clauses (1), (2), (5), (6) or (7) of Section 6.01(a) shall have occurred and be continuing,
and no event which with notice or lapse of time or both would become such an Event of Default shall have occurred and be continuing, on the date of such deposit; 

(iv) in the event of an election under Section 11.03(a), the Company or the Guarantor shall have delivered to the Trustee an Opinion of
Counsel stating that (A) the Company or the Guarantor has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument, there has been a change in the applicable Federal
income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit,
defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would be the case if such deposit, defeasance and discharge were not
to occur; 
 (v) in the event of an election under Section 11.03(b), the Company or the Guarantor shall have delivered to the Trustee
an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and covenant defeasance to be effected with respect to such Securities and will be
subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and covenant defeasance were not to occur; and 

(vi) notwithstanding any other provisions of this Section 11.03, such covenant defeasance shall be effected in compliance with any
additional or substitute terms, conditions or limitations which may be imposed on the Company or the Guarantor pursuant to Section 2.01. 

  
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 After such irrevocable deposit made pursuant to this Section 11.03 and satisfaction of the
other conditions set forth herein, the Trustee upon request shall acknowledge in writing the discharge of the Company’s and the Guarantor’s obligations pursuant to this Section 11.03. 

Section 11.04 Deposited Funds to be Held in Trust. 

All funds, U.S. Governmental Obligations or Foreign Governmental Obligations deposited with the Trustee pursuant to Sections 11.02 or 11.03
shall be held in trust and shall be available for payment as due, either directly or through any paying agent (including the Company or the Guarantor acting as its own paying agent), to the holders of the particular series of Securities for the
payment or redemption of which such funds, U.S. Governmental Obligations or Foreign Governmental Obligations have been deposited with the Trustee. 

Section 11.05 Payment of Funds Held by Paying Agents. 

In connection with the provisions of Section 11.02 or 11.03, all funds, U.S. Governmental Obligations or Foreign Governmental Obligations
then held by any paying agent under the provisions of this Indenture shall, upon demand of the Company or the Guarantor, be paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such funds,
U.S. Governmental Obligations or Foreign Governmental Obligations. 
 Section 11.06 Repayment to the Company or the Guarantor.

 Any funds, U.S. Governmental Obligations or Foreign Governmental Obligations deposited with any paying agent or the Trustee, or then held
by the Company or the Guarantor, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after the
date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall be repaid to the Company or the Guarantor, as applicable, or if then held by the Company or the Guarantor shall
be discharged from such trust; and thereafter, the paying agent and the Trustee shall be released from all further liability with respect to such funds, U.S. Governmental Obligations or Foreign Governmental Obligations, and the holder of any of the
Securities entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to the Company or the Guarantor, as applicable, for the payment thereof. Anything in this Article XI to the contrary notwithstanding, subject
to Section 7.06, the Trustee shall deliver or pay to the Company or the Guarantor from time to time upon request by the Company or the Guarantor any funds, U.S. Governmental Obligations or Foreign Governmental Obligations (or other property and
any proceeds therefrom) held by it as provided in Sections 11.02 or 11.03 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of
the amount thereof that would then be required to be deposited to effect a defeasance or covenant defeasance, as the case may be, in accordance with this Article XI. 

  
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 Section 11.07 Reinstatement. 

If the Trustee or paying agent is unable to apply any funds, U.S. Governmental Obligations or Foreign Governmental Obligations in accordance
with Section 11.02 or 11.03 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and the
Guarantor’s obligations under this Indenture, any indentures supplemental to this Indenture with respect to the applicable series of Securities and the Securities of such series shall be revived and reinstated as though no deposit had occurred
pursuant to Section 11.02 or 11.03, as the case may be, until such time as the Trustee or paying agent is permitted to apply all such funds, U.S. Governmental Obligations or Foreign Governmental Obligations in accordance with Section 11.02
or 11.03, as the case may be; provided, however, that if the Company or the Guarantor has made any payment of principal, premium, if any, or interest on any Securities of such series following the reinstatement of its obligations as aforesaid, the
Company or the Guarantor, as applicable, shall be subrogated to the rights of the holders of such Securities of such series to receive such payment from the funds, U.S. Governmental Obligations or Foreign Governmental Obligations held by the Trustee
or paying agent. 
 ARTICLE XII 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

Section 12.01 No Recourse. 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or
otherwise in respect thereof, shall be had against any incorporator, shareholder, officer or director, past, present or future as such, of the Company, of the Guarantor or of any predecessor or successor corporation, either directly or through the
Company or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, shareholders, officers or directors as such, of the Company, of the
Guarantor or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the
Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator,
shareholder, officer or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom,
are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 

  
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 ARTICLE XIII 

MISCELLANEOUS PROVISIONS 

Section 13.01 Effect on Successors and Assigns. 

All the agreements of the Company and the Guarantor in this Indenture or the Securities shall bind their respective successors whether so
expressed or not. All agreements of the Trustee in this Indenture shall bind its successor whether so expressed or not. 

Section 13.02 Actions by Successor. 

Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of
the Company or the Guarantor, as applicable, shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful sole successor of the Company or the
Guarantor, as applicable. 
 Section 13.03 Notices. 

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

 

			
	If to the Company:	  	Thermo Fisher Scientific (Finance I) B.V.
		  	c/o Thermo Fisher Scientific Inc.
		  	168 Third Avenue
		  	Waltham, Massachusetts 02451
		  	Attention: Seth H. Hoogasian
		  	Facsimile No.: (781) 622-1283
		
	If to the Guarantor:	  	Thermo Fisher Scientific Inc.
		  	168 Third Avenue
		  	Waltham, Massachusetts 02451
		  	Attention: Seth H. Hoogasian
		  	Facsimile No.: (781) 622-1283
		
	With copies to:	  	Hal J. Leibowitz
		  	Wilmer Cutler Pickering Hale and Dorr LLP.
		  	60 State Street
		  	Boston, Massachusetts 02109
		  	Telephone: (617) 526-6461
		  	Fax: (617) 526-5000
		
	If to the Trustee:	  	The Bank of New York Mellon Trust Company, N.A.
		  	500 Ross Street
		  	Pittsburgh, PA 15262
		  	Attention: Corporate Trust Administration

  
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 The Company, the Guarantor or the Trustee by notice to the others may designate additional or
different addresses for subsequent notices or communications. 
 All notices and communications (other than those sent to Securityholders)
shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the next Business Day
after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. 
 Any notice or communication to a
Securityholder shall be mailed by first-class mail, certified or registered, return receipt requested, to his address shown on the Security Register. Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect
its sufficiency with respect to other Securityholders. 
 In the event of suspension of regular mail service or by reason of any other cause
it shall be impracticable to give notice by mail, then such notification as shall be given with the approval of the Trustee shall constitute sufficient notice for every purpose hereunder. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is conclusively presumed duly given,
whether or not the addressee receives it. 
 Section 13.04 Governing Law. 

This Indenture, each Security and each Guarantee shall be deemed to be a contract made under the internal laws of the State of New York, and
for all purposes shall be construed in accordance with the laws of said State without regard to conflicts of laws principles that would require the application of any other law. This Indenture is subject to the provisions of the Trust Indenture Act
that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 
 Section 13.05
Treatment of Securities as Debt. 
 It is intended that the Securities will be treated as indebtedness and not as equity for United
States Federal income tax purposes. The provisions of this Indenture shall be interpreted to further this intention. 
 Section 13.06
Compliance Certificates and Opinions. 
 (a) Upon any application or demand by the Company or the Guarantor to the Trustee to take any
action under any of the provisions of this Indenture, the Company or the Guarantor, as applicable, shall furnish to the Trustee an Officer’s Certificate stating that, in the opinion of the signer, all conditions precedent provided for in this
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. 

  
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 (b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant in this Indenture shall include: (1) a statement that the Person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the nature and scope of
the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such Person, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 

Section 13.07 Payments on Business Days. 

Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and as set forth in an Officer’s Certificate or
established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of principal,
premium, if any, or interest or principal and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after
such nominal date. 
 Section 13.08 Conflict with Trust Indenture Act. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control. 
 Section 13.09 Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 Section 13.10 Separability. 

In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such
invalid or illegal or unenforceable provision had never been contained herein or therein. 
 Section 13.11 No Adverse Interpretation
of Other Agreements. 
 This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company, the
Guarantor or any of their respective Subsidiaries. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

  
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 Section 13.12 Table of Contents, Headings, Etc. 

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

Section 13.13 Consent to Jurisdiction and Service of Process. 

Each of the Company and the Guarantor agrees that any legal suit, action or proceeding brought by any party to enforce any rights under or with
respect to this Indenture, any Security or any other document or the transactions contemplated hereby or thereby may be instituted in any state or federal court in The City of New York, State of New York, United States of America, irrevocably waives
to the fullest extent permitted by law any objection which it may now or hereafter have to the laying of venue of any such suit, action or proceeding, irrevocably waives to the fullest extent permitted by law any claim that and agrees not to claim
or plead in any court that any such action, suit or proceeding brought in such court has been brought in an inconvenient forum and irrevocably submits to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding or for
recognition and enforcement of any judgment in respect thereof. 
 To the extent that the Company or the Guarantor has or hereafter may
acquire any immunity from jurisdiction of any court (including any court in the United States, the State of New York or other jurisdiction in which the Company, the Guarantor or any successor thereof may be organized or any political subdivisions
thereof) or from any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its property or assets, this Indenture, the Securities or any
other documents or actions to enforce judgments in respect of any thereof, then each of the Company and the Guarantor hereby irrevocably waives such immunity, and any defense based on such immunity, in respect of its obligations under the
above-referenced documents and the transactions contemplated thereby, to the extent permitted by law. The Company hereby appoints Capitol Services, Inc., 1675 S. State St., Suite B, Dover, Delaware 19901, as its agent to receive service of process
or other legal summons for purposes of any suit, action or proceeding that may be instituted in any state or federal court in The City of New York, State of New York, United States of America. 

Section 13.14 Waiver of Jury Trial. 

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

Section 13.15 USA Patriot Act. 

The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act the Trustee, like all financial institutions and
in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with The Bank of New York
Mellon Trust Company, N.A.. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the USA Patriot Act. 

  
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 Section 13.16 Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of
or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, 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. 
 ARTICLE XIV 

GUARANTEE OF SECURITIES 

Section 14.01 Guarantee. 

(a) The Guarantor hereby irrevocably and unconditionally guarantees to each Holder and to the Trustee and its successors and assigns
(1) the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all obligations of the Company under this Indenture (including obligations to the Trustee) and the Securities, whether for
payment of principal of, or interest on or premium, if any, on, the Securities and all other monetary obligations of the Company under this Indenture and the Securities and (2) the full and punctual performance within applicable grace periods
of all other obligations of the Company whether for fees, expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). The
Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from the Guarantor, and that the Guarantor shall remain bound under this Article notwithstanding any extension
or renewal of any Guaranteed Obligation. The Notation of Guarantee shall be substantially as set forth in Section 2.16 hereof. 
 (b)
The Guarantor waives presentation to, demand of payment from and protest to the Company of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. The Guarantor waives notice of any default under the Securities or the
Guaranteed Obligations. The obligations of the Guarantor hereunder are unconditional and absolute and shall not be released, discharged or otherwise affected by (1) the failure of any Holder or the Trustee to assert any claim or demand or to
enforce any right or remedy against the Company or any other Person under this Indenture, the Securities or any other agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or
modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (4) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of
any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations, (6) any change in the corporate existence, structure or ownership of the Company, or any insolvency, bankruptcy, reorganization or
other similar proceeding affecting the 

  
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Company or its assets or any resulting release or discharge of any obligation of the Company contained in this Indenture or any Security; (7) the existence of any claim, set-off or other
rights that the Guarantor may have at any time against the Company, the Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein shall prevent the assertion of any such claim
by separate suit or compulsory counterclaim; (8) any invalidity or unenforceability relating to or against the Company for any reason of this Indenture or any Security, or any provision of applicable law or regulation purporting to prohibit the
payment by the Company of the principal of, premium, if any, or interest on any Security or any other amount payable by the Company under this Indenture; or (9) any other act or omission to act or delay of any kind by the Company, the Trustee
or any other Person or any other circumstance whatsoever which might, but for the provisions of this Section 14.01(b), constitute a legal or equitable discharge of or defense to such Guarantor’s obligations hereunder (other than payment in
full). 
 (c) The Guarantor hereby waives any right to which it may be entitled to have the assets of the Company first be used and depleted
as payment of the Company’s or the Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by the Guarantor hereunder. The Guarantor hereby waives any right to which it may be entitled to require that the Company
be sued prior to an action being initiated against the Guarantor. 
 (d) The Guarantor further agrees that its Guarantee herein constitutes
a guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(e) Except as expressly set forth in this Indenture, the obligations of the Guarantor hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of
the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of the Guarantor herein shall not be discharged or impaired or otherwise affected by the
failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or
otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of the Guarantor or would otherwise operate as a
discharge of the Guarantor as a matter of law or equity (other than payment in full). 
 (f) Except as expressly set forth in this
Indenture, the Guarantor agrees that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. The Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated,
as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Company or
otherwise. 

  
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 (g) In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against the Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration,
by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, the Guarantor, hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the
Trustee an amount equal to the sum of (1) the unpaid principal amount of such Guaranteed Obligations, (2) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and (3) all other
monetary obligations of the Company to the Holders and the Trustee. 
 (h) The Guarantor shall be subrogated to all rights of the Holders of
any series of Securities and the Trustee against the Company in respect of any amounts paid to such Holders and the Trustee by the Guarantor pursuant to the provisions of the Guarantee; provided that the Guarantor shall not be entitled to any right
of subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. The Guarantor further agrees that, as between it, on the one hand, and the Holders and the
Trustee, on the other hand, (1) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in this Indenture for the purposes of the Guarantee herein, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in this Indenture, the Guaranteed Obligations (whether
or not due and payable) shall forthwith become due and payable by the Guarantor for the purposes of this Section 14.01. 
 (i) The
Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 14.01. 

(j) Upon request of the Trustee, the Guarantor shall 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 this Indenture. 
 Section 14.02 Consolidation, Merger,
Conveyance, Transfer or Lease.  
 The Guarantor shall not consolidate with, merge with or into, or sell, convey, transfer, lease or
otherwise dispose of all or substantially all of the property and assets of the Guarantor or the Guarantor’s Subsidiaries taken as a whole (in one transaction or a series of related transactions) to, any Person or permit any Person to merge
with or into it unless: 
 (a) The Guarantor shall be the continuing Person, or the Person (if other than the Guarantor) formed by such
consolidation or into which the Guarantor is merged or that acquired or leased such property and assets, shall be a Person validly existing under the laws of the United States of America or any jurisdiction thereof, or a jurisdiction outside the
United States, and shall expressly assume, by a supplemental indenture, executed and delivered to the Trustee, all of the Guarantor’s obligations under this Indenture and the Securities; 

  
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 (b) immediately after giving effect to such transaction, no Default or Event of Default shall
have occurred and be continuing; and 
 (c) the Guarantor delivers to the Trustee an Officer’s Certificate and Opinion of Counsel, in
each case stating that such consolidation, merger or transfer and such supplemental indenture complies with this Section 14.02 and that all conditions precedent provided for herein relating to such transaction have been complied with. 

To the extent that a Board Resolution or supplemental indenture pertaining to any series provides for different provisions relating to the
subject matter of this Article XIV, the provisions in such Board Resolution or supplemental indenture shall govern for purposes of such series. 

Section 14.03 Successor Substituted; No Waiver; Modification; Non-Impairment. 

Upon any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property and
assets of the Guarantor in accordance with Section 14.02 of this Indenture, the successor Person formed by such consolidation or into which the Guarantor is merged or to which such sale, conveyance, transfer, lease or other disposition is made
shall succeed to and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor Person had been named as the Guarantor; provided that the Guarantor shall not be
released from its obligation to pay the principal of, premium, if any, or interest on the Securities in the case of a lease of all or substantially all of its property and assets. 

The failure to endorse a Guarantee on any Security shall not affect or impair the validity thereof. 

Section 14.04 Assumption by Guarantor.  

The Guarantor may, without the consent of the Trustee or the Holders, assume all of the rights and obligations of the Company hereunder with
respect to a series of Securities if, after giving effect to such assumption, no Default or Event of Default shall have occurred and be continuing. 

The Guarantor shall assume all of the rights and obligations of the Company hereunder with respect to a series of Securities if, upon a
default by the Company in the due and punctual payment of the principal, sinking fund payment, if any, any premium or interest on such Securities, the Guarantor is prevented by any court order or judicial proceeding from fulfilling its obligations
under the Guarantee with respect to such series of Securities. Such assumption shall result in the Securities of such series becoming the direct obligations of the Guarantor and shall be effected without the consent of the Holders of the Securities
of any series or the Trustee. 
 Upon any such assumption by the Guarantor pursuant to this Section 14.04, the Guarantor shall execute
a supplemental indenture evidencing its assumption of all such rights and obligations of the Company, and the Company shall be released from its liabilities hereunder and under such Securities as obligor on the Securities of such series. 

  
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 ARTICLE XV 

ADDITIONAL AMOUNTS; CERTAIN TAX PROVISIONS 

Section 15.01 Redemption Upon Changes in Withholding Taxes. 

Unless otherwise provided pursuant to Section 2.01, the Securities of any series may be redeemed, as a whole but not in part, at the
option of the Company, upon not less than 30 nor more than 60 days’ notice (which notice shall be irrevocable), at a redemption price equal to 100% of the principal amount thereof, together with accrued interest, if any, to the redemption date
and Additional Amounts (as defined in Section 15.02), if any, if as a result of any amendment to, or change in, the laws, regulations, rulings or treaties of The Netherlands, the United States or other jurisdiction in which the Company or the
Guarantor or, in each case, any successor thereof (including a continuing Person formed by a consolidation with the Company or Guarantor, into which the Company or Guarantor is merged, or that acquires or leases all or substantially all of the
property and assets of the Company or Guarantor) may be organized, as applicable, or any political subdivision thereof or therein having the power to tax (a “Taxing Jurisdiction”), or any change in the application or official
interpretation of such laws, regulations, rulings or treaties, including any action taken by, or change in the published administrative practice of, a taxing authority or a holding by a court of competent jurisdiction (regardless of whether such
action, change or holding is with respect to the Company or the Guarantor), which amendment or change is announced or becomes effective on or after the date the Securities of such series are issued, the Company or the Guarantor has become, or there
is a material probability that it will become, obligated to pay Additional Amounts on the next date on which any amount would be payable with respect to the Securities of such series, and such obligation cannot be avoided by the use of commercially
reasonable measures available to the Company or Guarantor, as the case may be, not including substitution of the obligor on the Securities; provided, however, that no such notice of redemption may be given earlier than 60 days prior to the earliest
date on which the Company or Guarantor, as the case may be, would be obligated, or there is a material probability the Company or Guarantor would otherwise be obligated, to pay such Additional Amount. Prior to the publication or, where relevant,
mailing (and/or to the extent permitted by applicable procedures or regulations, electronic delivery) of any notice of redemption described in this paragraph, the Company shall deliver to the Trustee (i)(A) an Officer’s Certificate of the
Company stating that the obligation to pay Additional Amounts cannot be avoided by the Company taking commercially reasonable measures available to it or (B) an Officer’s Certificate of the Guarantor stating that the obligation to pay
Additional Amounts cannot be avoided by such Guarantor taking commercially reasonable measures available to it, as the case may be, as described above, and (ii) a written opinion of independent tax counsel to the Company or the Guarantor, as
the case may be, of recognized standing to the effect that the Company or the Guarantor, as the case may be, has or there is a material probability that it will become obligated to pay Additional Amounts as a result of a change, amendment, official
interpretation or application described above and that the Company or the Guarantor, as the case may be, cannot avoid the payment of such Additional Amounts by taking commercially reasonable measures available to it as described above. 

Section 15.02 Payment of Additional Amounts. 

All payments made by the Company or the Guarantor under or with respect to the Securities and any Guarantee will be made free and clear of and
without withholding or deduction for or on account of any present or future taxes, duties, levies, imposts, assessments or 

  
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governmental charges of whatever nature imposed or levied by or on behalf of any Taxing Jurisdiction (“Taxes”), unless the Company or Guarantor, as the case may be, is required
to withhold or deduct Taxes by law or by the interpretation or administration thereof. In the event that the Company or Guarantor is required to so withhold or deduct any amount for or on account of any Taxes from any payment made under or with
respect to the Securities or the Guarantee, as the case may be, the Company or Guarantor, as the case may be, will pay such additional amounts (“Additional Amounts”) as may be necessary so that the net amount received by each holder
of Securities (including Additional Amounts) after such withholding or deduction will equal the amount that such Holder would have received if such Taxes had not been required to be withheld or deducted; provided that no Additional Amounts will be
payable with respect to a payment to a holder of Securities or a holder of beneficial interests in Global Securities where such holder is subject to taxation on such payment by a relevant Taxing Jurisdiction for any reason other than such
holder’s mere ownership of the Securities or for or on account of: 
 (a) any Taxes that are imposed or withheld solely because such
holder (or the beneficial owner for whose benefit such holder holds such Securities) or a fiduciary, settlor, beneficiary, member, shareholder or other equity owner of, or possessor of a power over, such holder (or beneficial owner) if such holder
(or beneficial owner) is an estate, trust, partnership, limited liability company, corporation or other entity: 
 (1) is or was present or
engaged in, or is or was treated as present or engaged in, a trade or business in the Taxing Jurisdiction or has or had a permanent establishment in the Taxing Jurisdiction (in each case, other than the mere fact of ownership of such Securities,
without another presence or business in such Taxing Jurisdiction); 
 (2) has or had any present or former connection (other than the mere
fact of ownership of such Securities) with the Taxing Jurisdiction imposing such Taxes, including being or having been a national citizen or resident thereof, being treated as being or having been a resident thereof or being or having been
physically present therein; 
 (3) with respect to any withholding Taxes imposed by the United States, is or was with respect to the United
States a personal holding company, a passive foreign investment company, a controlled foreign corporation, a foreign private foundation or other foreign tax exempt organization or corporation that has accumulated earnings to avoid United States
federal income tax; 
 (4) actually or constructively owns or owned 10% or more of the total combined voting power of all classes of stock
of the Company or Guarantor within the meaning of Section 871(h)(3) of the Code; or 
 (5) is or was a bank receiving payments on an
extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3) of the Code. 

(b) any estate, inheritance, gift, sales, transfer, excise, personal property or similar Taxes imposed with respect to the Securities, except
as otherwise provided herein; 
 (c) any Taxes imposed solely as a result of the presentation of such Securities (where presentation is
required) for payment on a date more than 15 days after the date on which 

  
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such payment became due and payable or the date on which payment thereof is duly provided for, whichever is later, except to the extent that the beneficiary or holder thereof would have been
entitled to the payment of Additional Amounts had the Securities been presented for payment on any date during such 15-day period; 
 (d)
any Taxes imposed or withheld solely as a result of the failure of such holder or any other person to comply with applicable certification, information, documentation or other reporting requirements concerning the nationality, residence, identity or
connection with the Taxing Jurisdiction of such holder, if such compliance is required by statute, regulation, ruling or administrative practice of the relevant Taxing Jurisdiction or by any applicable tax treaty to which the relevant Taxing
Jurisdiction is a party as a precondition to relief or exemption from such Taxes; 
 (e) with respect to withholding Taxes imposed by the
United States, any such Taxes imposed by reason of the failure of such holder to fulfill the statement requirements of sections 871(h) or 881(c) of the Code; 

(f) any Taxes that are payable by any method other than withholding or deduction by the Company or a Guarantor or any paying agent from
payments in respect of such Securities; 
 (g) any Taxes required to be withheld by any paying agent from any payment in respect of any
Securities if such payment can be made without such withholding by at least one other paying agent; 
 (h) any withholding or deduction for
Taxes which would not have been imposed if the relevant Securities had been presented to another paying agent in a country that is a member of the European Union as of the date of this Indenture; 

(i) any withholding or deduction required pursuant to sections 1471 through 1474 of the Code, any regulations or agreements thereunder,
official interpretations thereof, any intergovernmental agreement, or any law, rule, guidance or administrative practice implementing an intergovernmental agreement entered into in connection with such sections of the Code or; 

(j) any combination of Section 15.02(a), (b), (c), (d), (e), (f), (g), (h) or (i). 

Additional Amounts also will not be payable to any Holder or the holder of a beneficial interest in a Global Security that is a fiduciary,
partnership, limited liability company or other fiscally transparent entity, or to such holder that is not the sole Holder or holder of such beneficial interests of such Security, as the case may be. This exception, however, will apply only to the
extent that a beneficiary or settlor with respect to the fiduciary, or a beneficial owner or member of the partnership, limited liability company or other fiscally transparent entity, would not have been entitled to the payment of an Additional
Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment. 

The Company or Guarantor, as the case may be, will also (i) make such withholding or deduction of Taxes and (ii) remit the full
amount of Taxes so deducted or withheld to the relevant Taxing Jurisdiction in accordance with all applicable laws. The Company or Guarantor, as 

  
 75 

 
applicable, will use its commercially reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld from each Taxing Authority imposing
such Taxes. The Company or Guarantor, as the case may be, will, upon request, make available to the holders of the Securities, within 90 days after the date the payment of any Taxes so deducted or withheld is due pursuant to applicable law,
certified copies of tax receipts evidencing such payment by the Company or Guarantor or if, notwithstanding the Company’s or applicable Guarantor’s efforts to obtain such receipts, the same are not obtainable, other evidence of such
payments by the Company or Guarantor. 
 At least 30 days prior to each date on which any payment under or with respect to the Securities or
the Guarantee is due and payable, if the Company or a Guarantor will be obligated to pay Additional Amounts with respect to such payment, the Company or Guarantor will deliver to the Trustee an Officers’ Certificate stating the fact that such
Additional Amounts will be payable and the amounts so payable and will set forth such other information as is necessary to enable such Trustee to pay such Additional Amounts to holders of Securities on the payment date. 

In addition, the Company will pay any stamp, issue, registration, documentary or other similar taxes and duties, including interest, penalties
and Additional Amounts with respect thereto, payable in The Netherlands or the United States or any political subdivision or taxing authority of or in the foregoing in respect of the creation, issue, offering, enforcement, redemption or retirement
of the Securities. 
 The provisions of this Article XV shall survive any termination of the discharge of this Indenture and shall apply
mutatis mutandis to any jurisdiction in which the Company or a Guarantor or any successor Person to the Company or Guarantor, as the case may be, is organized or is engaged in business for tax purposes or any political subdivisions or taxing
authority or agency thereof or therein; provided, however, the date on which the Company or Guarantor changes its jurisdiction in which it is organized or such Person becomes a successor to the Company or applicable Guarantor, as the case may be,
shall be substituted for the date on which the series of Securities was issued. 
 Whenever in this Indenture, the Securities or the
Guarantee there is mentioned, in any context, the payment of principal and premium, if any, redemption price, interest or any other amount payable under or with respect to any Security, such mention shall be deemed to include mention of the payment
of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. 

[Signatures on following page] 

  
 76 

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

			
	 THERMO FISHER SCIENTIFIC (FINANCE I) B.V.

		
	By:	 	  

	Name	 	
	Title:	 	
	
	THERMO FISHER SCIENTIFIC INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Indenture

 
			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Indenture

 EXHIBIT A 

FORM OF CERTIFICATE OF TRANSFER 
 Thermo
Fisher Scientific Inc. 
 168 Third Avenue 
 Waltham,
Massachusetts 02451 
 Attention: Seth H. Hoogasian 
 [Trustee]

 [Address] 
  

	Re:	[insert description of Securities] 

 Ladies and Gentlemen, 

Reference is hereby made to the Indenture, dated as of             ,
        , among Thermo Fisher Scientific (Finance I) B.V., a private limited liability company incorporated under the laws of The Netherlands, with its corporate seat at Breda, The Netherlands (the
“Company”), Thermo Fisher Scientific Inc., a Delaware company (the “Guarantor”) and                     , a
                    , as trustee (the “Trustee”), [as supplemented by that certain supplemental indenture dated as of
                    ][and the Board Resolution adopted
                    ] (together, the “Indenture”). Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.                      (the “Transferor”) owns and proposes to transfer the Security or
Securities or interest[s] in such Security or Securities specified in Annex A hereto, in the principal amount of $         in such Security or Securities or interest[s] (the
“Transfer”), to                      (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY 

1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A Global
Security or a Definitive Security Pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and,
accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Security is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive
Security for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A (a
“QIB”) in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities laws of any State of the United States. Upon consummation of the proposed Transfer in accordance with
the terms of the Indenture, the transferred beneficial interest or Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Security and/or the Definitive Security and
in the Indenture and the Securities Act. 
 2.  ̈ Check if Transferee will take
delivery of a beneficial interest in the Regulation S Global Security or a Definitive Security pursuant to Regulation S. The Transfer is 

  
 A-1 

 
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being
made to a person in the United States and (y) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was
outside the United States or (z) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged
with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903 (b) or Rule 904 (b) of Regulation S under the Securities Act, (iii) the transaction is not part
of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed Transfer is being made prior to the expiration of the Distribution Compliance Period, the Transfer is not being made to a U.S. person (as
such is defined in Regulation S) or for the account or benefit of a U.S. person (other than an initial purchaser of the Securities) and the interest transferred will be held immediately thereafter through Euroclear or Clearstream. Upon consummation
of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Regulation S
Global Security and/or the Definitive Security and in the Indenture and the Securities Act. 
 3.
 ̈ Check and complete if Transferee will take delivery of a beneficial interest in a Definitive Security pursuant to any provision of the Securities Act other than Rule 144A or Regulation S.
The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Securities and Restricted Definitive Securities and pursuant to and in accordance with the Securities Act and
any applicable blue sky securities laws of any State of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a)  ̈ Such Transfer is being effected pursuant to and in accordance with Rule 144 under the
Securities Act; or 
 (b)  ̈ Such Transfer is being effected to the Company or a Subsidiary
thereof; or 
 (c)  ̈ Such Transfer is being effected pursuant to an effective registration
statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act; or 
 (d)  ̈ Such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144 or Rule 904, and
the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a
Restricted Global Security or Restricted Definitive Security and the requirements of the exemption claimed, which certification is supported by a certificate executed by the Transferee in the form attached as Exhibit C to the Indenture. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the Definitive Security will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Definitive Security and in the
Indenture and the Securities Act. 

  
 A-2 

 4.  ̈ Check if Transferee will take delivery of a
beneficial interest in an Unrestricted Global Security or of an Unrestricted Definitive Security. 
 (a)
 ̈ Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will no longer be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities, on Restricted Definitive Securities and in the Indenture and the Securities Act. 

(b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States
and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Definitive Security will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities, on Restricted Definitive
Securities and in the Indenture and the Securities Act. 
 (c)  ̈ Check if Transfer is
Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with
the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Security will not be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Securities or Restricted Definitive Securities and in the Indenture. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Company and the Guarantor. 

 

			
	Dated:	 	  

	
	  

	[Insert Name of Transferor]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

	1.	The Transferor owns and proposed to transfer the following: 

 [CHECK ONE OF (a) OR (b)] 

 

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Security (CUSIP                     ), or

  

	 	(ii)	 ̈ Regulation S Global Security (CUSIP                     ), or

  

	 	(b)	 ̈ a Restricted Definitive Security. 

  

	2.	After the transfer the Transferee will hold: 

  

	 	(a)	 ̈ a beneficial interest in the: 

  

	 	(i)	 ̈ 144A Global Security (CUSIP                     ), or

  

	 	(ii)	 ̈ Regulation S Global Security (CUSIP                     ), or

  

	 	(iii)	 ̈ Unrestricted Global Security (CUSIP                     ); or

  

	 	(b)	 ̈ a Restricted Definitive Security; or 

  

	 	(c)	 ̈ an Unrestricted Definitive Security, 

 in accordance with the
terms of the Indenture. 

  
 A-4 

 EXHIBIT B 

FORM OF CERTIFICATE OF EXCHANGE 
 Thermo
Fisher Scientific Inc. 
 168 Third Avenue 
 Waltham,
Massachusetts 02451 
 Attention: Seth H. Hoogasian 
 [Trustee]

 [Address of Trustee] 
  

	Re:	[insert description of the Securities] 

 Ladies and Gentlemen, 

Reference is hereby made to the Indenture, dated as of             ,
        , among Thermo Fisher Scientific (Finance I) B.V., a private limited liability company incorporated under the laws of The Netherlands, with its corporate seat at Breda, The Netherlands (the
“Company”), Thermo Fisher Scientific Inc., a Delaware company (the “Guarantor”) and                     , a
                    , as trustee (the “Trustee”) [as supplemented by that certain supplemental indenture dated as of
                    ][and the Board Resolution adopted
                    ] (together, the “Indenture”). Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture. 

                    , (the
“Owner”) owns and proposes to transfer the Security or Securities or interest[s] in such Security or Securities specified herein, in the principal amount of $         in such Security
or Securities or interest[s] (the “Exchange”). In connection with the Transfer, the Transferor hereby certifies that: 

1. Exchange of Restricted Definitive Securities or Beneficial Interests in a Restricted Global Security for Unrestricted
Definitive Securities or Beneficial Interests in an Unrestricted Global Security. 
 (a)
 ̈ Check if Exchange is from beneficial interest in a Restricted Global Security to beneficial interest in an Unrestricted Global Security. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Security for a beneficial interest in an Unrestricted Global Security in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Securities and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the
“Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an
Unrestricted Global Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United States. 

(b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Security to
Unrestricted Definitive Security. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Security for an Unrestricted Definitive Security in an equal principal

  
 B-1 

 
amount, the Owner hereby certifies (i) the Definitive Security is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance
with the transfer restrictions applicable to the Restricted Global Securities and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the Definitive Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United States. 

(c)  ̈ Check if Exchange is from Restricted Definitive Security to beneficial interest in
an Unrestricted Global Security. In connection with the Owner’s Exchange of a Restricted Definitive Security for a beneficial interest in an Unrestricted Global Security, the Owner hereby certifies (i) the beneficial interest is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Securities and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted
Global Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United States. 
 (d)  ̈ Check if Exchange is from Restricted Definitive Security to Unrestricted Definitive Security. In connection with the Owner’s Exchange of a Restricted Definitive Security for an
Unrestricted Definitive Security, the Owner hereby certifies (i) the Unrestricted Definitive Security is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to Restricted Definitive Securities and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Security is being acquired in compliance with any applicable blue sky securities laws of any State of the United States. 

2. Exchange of Restricted Definitive Securities or Beneficial Interests in Restricted Global Securities for Restricted
Definitive Securities or Beneficial Interests in Restricted Global Securities. 
 (a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Security to Restricted Definitive Security. In connection with the Exchange of the Owner’s beneficial interest in a
Restricted Global Security for a Restricted Definitive Security with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Security is being acquired for the Owner’s own account without transfer. Upon consummation
of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Security issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted
Definitive Security and in the Indenture and the Securities Act. 
 (b)  ̈ Check if
Exchange is from Restricted Definitive Security to beneficial interest in a Restricted Global Security. In connection with the Exchange of the Owner’s Restricted Definitive Security for a beneficial interest in the: [CHECK ONE]  ̈ 144A Global 

  
 B-2 

 
Security or  ̈ Regulation S Global Security with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being
acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Global Securities and pursuant to and in accordance with the Securities
Act, and in compliance with any applicable blue sky securities laws of any State of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Security and in the Indenture and the Securities Act. 

This certificate and the statements contained herein are made for your benefit and the benefit of the Company and the Guarantor. 

 

			
	
	  
 [Insert Name of
Owner]

		
	By:	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	  

  
 B-3 

 EXHIBIT C 

FORM OF CERTIFICATE FROM ACQUIRING 

INSTITUTIONAL ACCREDITED INVESTOR 
 Thermo
Fisher Scientific Inc. 
 168 Third Avenue 
 Waltham,
Massachusetts 02451 
 Attention: Seth H. Hoogasian 
 [Trustee]

 [Address of Trustee] 
  

	Re:	[insert description of the Securities] 

 Ladies and Gentlemen, 

Reference is hereby made to the Indenture, dated as of             ,
        , among Thermo Fisher Scientific (Finance I) B.V., a private limited liability company incorporated under the laws of The Netherlands, with its corporate seat at Breda, The Netherlands (the
“Company”), Thermo Fisher Scientific Inc., a Delaware company (the “Guarantor”) and                     , a
                    , as trustee (the “Trustee”) [as supplemented by that certain supplemental indenture dated as of
                    ][and the Board Resolution adopted
                    ] (together, the “Indenture”). Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture. 
 In connection with our proposed purchase of $        
aggregate principal amount of: (a) a beneficial interest in a Global Security, or (b) a Definitive Security, we confirm that: 

1. We understand that any subsequent transfer of the Securities or any interest therein is subject to certain restrictions and conditions set
forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Securities or any interest therein except in compliance with, such restrictions and conditions and the United States Securities Act
of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the Securities have not been
registered under the Securities Act, and that the Securities and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as
hereinafter stated, that if we should sell the Securities or any interest therein, we will do so only (1) In the United States to a person whom the seller reasonably believes is a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act) in a transaction meeting the requirements of Rule 144A, (2) outside the United States in an offshore transaction in accordance with Rule 904 under the Securities Act, (3) pursuant to an exemption from
registration under the Securities Act provided by Rule 144 thereunder (if available) or (4) pursuant to an effective registration statement under the Securities Act, in each of cases (1) through (4) in accordance with any applicable
securities laws of any state of the United States, and we further agree to notify any purchaser of the Securities from us of the resale restrictions referred to above. 

  
 C-1 

 3. We understand that, on any proposed resale of the Securities or beneficial interest therein,
we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further
understand that any subsequent transfer by us of the Securities or beneficial interest therein acquired by us must be effected through one of the initial purchasers of the Securities. 

4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the
Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Securities, and we and any accounts for which we are acting are each able to bear
the economic risk of our or its investment. 
 5. We are acquiring the Securities or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 

You, the Company and the Guarantor are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy
hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. 
  

					
	  
	 		  	Dated:             ,          
			
	  
 [Insert Name of Accredited
Investor]
	 		  	
			
	By:
                                         
                                	 		  	
	Name:	 		  	
	Title:	 		  	

  
 C-2

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