Document:

Indenture, dated as of June 23, 2004

 Exhibit 4.14 
  
 EXECUTION COPY 

  
 WPP FINANCE (UK), 
  
 as Issuer 
  
 and 
  
 WPP
GROUP PLC, 
  
 as Guarantor 
  
 and 
  
 CITIBANK, N.A., 
  
 as Trustee 
  

  
 INDENTURE 
  
 Dated as of June 23, 2004 
  

  
 Debt Securities 
  

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 Parties
	  	1
	 Recitals of the Issuer
	  	1
	
	ARTICLE ONE
	
	 DEFINITIONS AND OTHER PROVISIONS
 OF GENERAL APPLICATION

			
	 SECTION 101.
	  	 Definitions
	  	1
	 SECTION 102.
	  	 Compliance Certificates and Opinions
	  	9
	 SECTION 103.
	  	 Form of Documents Delivered to Trustee
	  	10
	 SECTION 104.
	  	 Acts of Holders; Record Dates
	  	10
	 SECTION 105.
	  	 Notices, Etc., to Trustee, Issuer and Company
	  	12
	 SECTION 106.
	  	 Notice to Holders; Waiver
	  	12
	 SECTION 107.
	  	 Conflict with Trust Indenture Act
	  	13
	 SECTION 108.
	  	 Effect of Headings and Table of Contents
	  	13
	 SECTION 109.
	  	 Successors and Assigns
	  	13
	 SECTION 110.
	  	 Separability Clause
	  	13
	 SECTION 111.
	  	 Counterparts
	  	13
	 SECTION 112.
	  	 Benefits of Indenture
	  	14
	 SECTION 113.
	  	 Governing Law
	  	14
	 SECTION 114.
	  	 Submission to Jurisdiction; Appointment of Agent for Service of Process
	  	14
	 SECTION 115.
	  	 Legal Holidays
	  	14
	
	ARTICLE TWO
	
	SECURITY FORMS
			
	 SECTION 201.
	  	 Forms Generally
	  	15
	 SECTION 202.
	  	 Form of Face of Security
	  	16
	 SECTION 203.
	  	 Form of Reverse of Security
	  	18
	 SECTION 204.
	  	 Form of Notation of Guarantee
	  	25
	 SECTION 205.
	  	 Form of Trustee’s Certificate of Authentication
	  	27
	
	ARTICLE THREE
	
	THE SECURITIES
			
	 SECTION 301.
	  	 Amount Unlimited; Issuable in Series
	  	27
	 SECTION 302.
	  	 Denominations
	  	30
	 SECTION 303.
	  	 Execution, Authentication, Delivery and Dating
	  	30
	 SECTION 304.
	  	 Temporary Securities
	  	31
	 SECTION 305.
	  	 Registration, Registration of Transfer and Exchange
	  	32
	 SECTION 306.
	  	 Mutilated, Destroyed, Lost and Stolen Securities
	  	34

  

 ii 

					
	 SECTION 307.
	  	 Payment of Interest; Interest Rights Preserved
	  	35
	 SECTION 308.
	  	 Persons Deemed Owners
	  	36
	 SECTION 309.
	  	 Cancellation
	  	36
	 SECTION 310.
	  	 Computation of Interest
	  	36
	 SECTION 311.
	  	 CUSIP and ISIN Numbers
	  	37
	
	ARTICLE FOUR
	
	SATISFACTION AND DISCHARGE
			
	 SECTION 401.
	  	 Satisfaction and Discharge of Indenture
	  	37
	 SECTION 402.
	  	 Application of Trust Money
	  	38
	
	ARTICLE FIVE
	
	REMEDIES
			
	 SECTION 501.
	  	 Events of Default
	  	38
	 SECTION 502.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	40
	 SECTION 503.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	41
	 SECTION 504.
	  	 Trustee May File Proofs of Claim
	  	42
	 SECTION 505.
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	42
	 SECTION 506.
	  	 Application of Money Collected
	  	42
	 SECTION 507.
	  	 Limitation on Suits
	  	42
	 SECTION 508.
	  	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	43
	 SECTION 509.
	  	 Restoration of Rights and Remedies
	  	43
	 SECTION 510.
	  	 Rights and Remedies Cumulative
	  	43
	 SECTION 511.
	  	 Delay or Omission Not Waiver
	  	44
	 SECTION 512.
	  	 Control by Holders
	  	44
	 SECTION 513.
	  	 Waiver of Past Defaults
	  	44
	 SECTION 514.
	  	 Undertaking for Costs
	  	45
	 SECTION 515.
	  	 Waiver of Usury, Stay or Extension Laws
	  	45
	
	ARTICLE SIX
	
	THE TRUSTEE
			
	 SECTION 601.
	  	 Certain Duties and Responsibilities
	  	45
	 SECTION 602.
	  	 Notice of Defaults
	  	46
	 SECTION 603.
	  	 Certain Rights of Trustee
	  	46
	 SECTION 604.
	  	 Not Responsible for Recitals or Issuance of Securities
	  	48
	 SECTION 605.
	  	 May Hold Securities
	  	48
	 SECTION 606.
	  	 Money Held in Trust
	  	48
	 SECTION 607.
	  	 Compensation and Reimbursement
	  	48
	 SECTION 608.
	  	 Conflicting Interests
	  	49
	 SECTION 609.
	  	 Corporate Trustee Required; Eligibility
	  	49
	 SECTION 610.
	  	 Resignation and Removal; Appointment of Successor
	  	49

	Note:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

  

 iii 

					
	 SECTION 611.
	  	 Acceptance of Appointment by Successor
	  	51
	 SECTION 612.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	52
	 SECTION 613.
	  	 Preferential Collection of Claims Against Issuer or Company
	  	52
	 SECTION 614.
	  	 Appointment of Authenticating Agent
	  	52
	 SECTION 615.
	  	 Trustee’s Duties Regarding Changes in Share Premium Account
	  	54
	
	ARTICLE SEVEN
	
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER AND COMPANY
			
	 SECTION 701.
	  	 Issuer to Furnish Trustee Names and Addresses of Holders
	  	54
	 SECTION 702.
	  	 Preservation of Information; Communications to Holders
	  	55
	 SECTION 703.
	  	 Reports by Trustee
	  	55
	 SECTION 704.
	  	 Reports by Issuer and Company
	  	55
	 SECTION 705.
	  	 Calculation of Original Issue Discount
	  	56
	
	ARTICLE EIGHT
	
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
			
	 SECTION 801.
	  	 Issuer or Company May Consolidate, Etc. Only on Certain Terms
	  	56
	 SECTION 802.
	  	 Successor Substituted
	  	57
	
	ARTICLE NINE
	
	SUPPLEMENTAL INDENTURES
			
	 SECTION 901.
	  	 Supplemental Indentures without Consent of Holders
	  	57
	 SECTION 902.
	  	 Supplemental Indentures with Consent of Holders
	  	58
	 SECTION 903.
	  	 Execution of Supplemental Indentures
	  	60
	 SECTION 904.
	  	 Effect of Supplemental Indentures
	  	60
	 SECTION 905.
	  	 Conformity with Trust Indenture Act
	  	60
	 SECTION 906.
	  	 Reference in Securities to Supplemental Indentures
	  	60
	
	ARTICLE TEN
	
	COVENANTS
			
	 SECTION 1001.
	  	 Payment of Principal, Premium and Interest
	  	60
	 SECTION 1002.
	  	 Maintenance of Office or Agency
	  	60
	 SECTION 1003.
	  	 Money for Security Payments to Be Held in Trust
	  	61
	 SECTION 1004.
	  	 Statement by Officers as to Default
	  	63
	 SECTION 1005.
	  	 Existence
	  	63
	 SECTION 1006.
	  	 Payment of Taxes and Other Claims
	  	63
	 SECTION 1007.
	  	 Additional Amounts
	  	63
	 SECTION 1008.
	  	 Limitations on Security Interests
	  	66
	 SECTION 1009.
	  	 Limitation on Sale and Leaseback
	  	66

	Note:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

  

 iv 

					
	 SECTION 1010.
	  	 Waiver of Certain Covenants
	  	67
	 SECTION 1011.
	  	 Indemnification of Judgment Currency
	  	67
	 SECTION 1012.
	  	 Exchange Act Reports
	  	67
	
	ARTICLE ELEVEN
	
	REDEMPTION OF SECURITIES
			
	 SECTION 1101.
	  	 Applicability of Article
	  	68
	 SECTION 1102.
	  	 Election to Redeem; Notice to Trustee
	  	68
	 SECTION 1103.
	  	 Selection by Trustee of Securities to Be Redeemed
	  	69
	 SECTION 1104.
	  	 Notice of Redemption
	  	69
	 SECTION 1105.
	  	 Deposit of Redemption Price
	  	70
	 SECTION 1106.
	  	 Securities Payable on Redemption Date
	  	70
	 SECTION 1107.
	  	 Securities Redeemed in Part
	  	70
	 SECTION 1108.
	  	 Optional Redemption Due to Changes in Tax Treatment
	  	71
	
	ARTICLE TWELVE
	
	SINKING FUNDS
			
	 SECTION 1201.
	  	 Applicability of Article
	  	72
	 SECTION 1202.
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	72
	 SECTION 1203.
	  	 Redemption of Securities for Sinking Fund
	  	73
	
	ARTICLE THIRTEEN
	
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE
			
	 SECTION 1301.
	  	 Option to Effect Defeasance or Covenant Defeasance
	  	73
	 SECTION 1302.
	  	 Defeasance and Discharge
	  	73
	 SECTION 1303.
	  	 Covenant Defeasance
	  	74
	 SECTION 1304.
	  	 Conditions to Defeasance or Covenant Defeasance
	  	74
	 SECTION 1305.
	  	 Deposited Money and US. Government Obligations to Be Held in Trust; Miscellaneous Provisions
	  	75
	 SECTION 1306.
	  	 Reinstatement
	  	76
	
	ARTICLE FOURTEEN
	
	GUARANTEE OF SECURITIES
			
	 SECTION 1401.
	  	 Guarantee
	  	76
	 SECTION 1402.
	  	 Execution of Guarantee
	  	77

	Note:	This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. 

  

 v 

 INDENTURE, dated as of June 23, 2004, among WPP Finance (UK), a private unlimited liability
company organized and existing under the laws of England and Wales (herein called the “Issuer”), having its principal office at 27 Farm Street, London W1J 5RJ, England, WPP Group plc, a public limited company organized and existing under
the laws of England and Wales (herein called the “Company”), having its principal office at 27 Farm Street, London W1J 5RJ, England, and Citibank, N.A., a national banking association duly incorporated and existing under the laws of the
United States, as Trustee (herein called the “Trustee”). 
  
 RECITALS 
  
 The Issuer has duly authorized the execution
and delivery of this Indenture to provide for the issuance from time to time of its debt securities (herein called collectively the “Securities”), to be issued in one or more series as in this Indenture provided. 
  
 The Company has duly authorized the execution and delivery of this Indenture
to provide for the Guarantees of the Securities provided for herein. 
  
 All things necessary to make this Indenture a valid agreement of the Issuer and the Company, in accordance with its terms, have been done. 
  
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
  
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate
benefit of all Holders of the Securities or of series thereof, as follows: 
  
 ARTICLE ONE 
  
 DEFINITIONS AND OTHER PROVISIONS 
 OF
GENERAL APPLICATION 
  

	SECTION 101.	Definitions. 

  
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 
  
 (1) the terms defined in this Article One have the meanings
assigned to them in this Article One and include the plural as well as the singular; 
  
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein; 
  
 (3) all accounting
terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles in the United States, and, except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation; 
  
 (4) unless the context otherwise requires, any reference to an “Article” or a “Section”
refers to an Article or Section, as the case may be, of this Indenture; 
  

 (5) unless the context otherwise requires, any reference to a statute, rule or regulation
refers to the same (including any successor statute, rule or regulation thereto) as it may be amended from time to time; and 
  
 (6) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture
as a whole and not to any particular Article, Section or other subdivision. 
  
 “Act”, when used with respect to any Holder, has the meaning specified in Section 104. 
  
 “Additional Amounts” has the meaning specified in Section 1007. Any reference in this Indenture to principal, premium or interest in respect of
the Securities shall be deemed also to refer to any Additional Amounts that may be payable as set forth herein and under the Securities or the Guarantees. 
  
 “additional taxing jurisdiction” has the meaning specified in Section 1007. 
  
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” “ and “controlled” have meanings correlative to the foregoing. 
  
 “Agent Members” has the meaning specified in Section 305(b)(5).

  
 “Applicable Procedures of the Depositary” means,
with respect to any matter at any time, the policies and procedures of the Depositary, if any, that are applicable to such matter at such time. 
  
 “applicable taxing jurisdiction” has the meaning specified in Section 1007. 
  
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 614 to act on behalf of the
Trustee to authenticate Securities of one or more series. 
  
 “Authorized Agent” has the meaning specified in Section 114. 
  
 “Authorized Officer” means any person (whether designated by name or the persons for the time being holding a designated office) appointed by or pursuant to a Board Resolution for the purpose, or a
particular purpose, of this Indenture, provided that written notice of such appointment shall have been given to the Trustee. 
  
 “beneficial owner” has the meaning determined in accordance with Rule 13d-3 under the Exchange Act and the terms “beneficial
ownership” and “beneficially owned” have meanings correlative to the definition of beneficial owner. 
  
 “Board of Directors”, when used with reference to the Issuer or the Company, means the board of directors of the Issuer or the Company, as the
case may be, or any committee of that board duly authorized to act for it in respect hereof. 
  
 “Board Resolution”, when used with reference to the Issuer or the Company, means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Issuer or the 

  

 2 

 
Company, as the case may be, to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and
delivered to the Trustee. 
  
 “Business Day”, when used
with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment and in The City of New York are authorized or obligated by law or executive
order to close. 
  
 “Closing Date”, when used with
respect to Securities of any series (or of any identifiable tranche of any series), means the last date of original issuance of any Securities of such series (or tranche). 
  
 “Clearstream” has the meaning specified in Section 305(b)(5). 
  
 “Commission” means the U.S. Securities and Exchange Commission, as
from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under applicable law, then the body performing such
duties at such time. 
  
 “Company” means the Person
named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person.

  
 “Corporate Trust Office” means the principal office
of the Trustee in the Borough of Manhattan, The City of New York which at any particular time its corporate trust business shall be administered which office as of the date hereof is located at 111 Wall Street, New York, New York 10005, Attention:
Citibank Agency & Trust. 
  
 “corporation” means a
corporation, association, company, joint-stock company or business trust. 
  
 “Covenant Defeasance” has the meaning specified in Section 1303. 
  
 “Defaulted Interest” has the meaning specified in Section 307. 
  
 “Defeasance” has the meaning specified in Section 1302. 
  
 “Defeasible Series” has the meaning specified in Section 1301.

  
 “Depositary” means, with respect to Securities of
any series issuable in whole or in part in the form of one or more Global Securities, a clearing agency registered under the Exchange Act that is designated to act as Depositary for such Securities as contemplated by Section 301. Unless otherwise
provided pursuant to Section 301, the Depositary shall be The Depository Trust Company until a successor Depositary shall have become Depositary pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall
mean such successor Depositary. 
  
 “Director” means any
member of a Board of Directors. 
  
 “Dollar” and
“U.S.$” mean a U.S. dollar or other equivalent unit in such coin or currency of the United States of America as at the time shall be legal tender for the payment of public and private debts. 
  

 3 

 “ECOFIN” has the meaning specified in Section 1007. 
  
 “Euroclear” has the meaning specified in Section 305(b)(5).

  
 “Event of Default” has the meaning specified in
Section 501. 
  
 “Exchange Act” means the U.S.
Securities Exchange Act of 1934 (including any successor act thereto), as it may be amended from time to time, and (unless the context otherwise requires) includes the rules and regulations of the Commission promulgated thereunder. 
  
 “Expiration Date” has the meaning specified in Section 104.

  
 “Global Security” means a Security held by or on
behalf of a Depositary and in which beneficial interests are evidenced on the records of such Depositary or its Agent Members. 
  
 “Guarantee” means the guarantee by the Guarantor of any Security of any series authenticated and delivered pursuant to this Indenture either (i)
if specified in a Board Resolution of the Guarantor as contemplated by Section 301 and endorsed on such Security or (ii) as otherwise applicable to Article Fourteen. 
  
 “Holder” means, with respect to a Security, the Person in whose name such Security is registered in the Security
Register. 
  
 “Indebtedness” means any indebtedness of
any Person for money borrowed, whether incurred, assumed or guaranteed, and includes obligations under capitalized leases. 
  
 “Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more supplemental
indentures hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern
this instrument and any such supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 301. 
  
 “Interest”, when used with respect to an Original Issue Discount
Security that by its terms bears interest only after Maturity, means interest payable after Maturity. All references to interest contained in this Indenture, any supplemental indenture, the Securities of any series or any Guarantee include any
additional interest which may be payable pursuant to obligations arising under any registration rights agreement relating thereto. 
  
 “Interest Payment Date” means, when used with respect to any Security, the Stated Maturity of an installment of interest on such Security.

  
 “Investment Company Act” means the Investment
Company Act of 1940 and any statute successor thereto, in each case as amended from time to time. 
  
 “Issuer” means the Person named as the “Issuer” in the first paragraph of this instrument until a successor Person shall have become
such pursuant to the applicable provisions of this Indenture, and thereafter “Issuer” shall mean such successor Person. 
  

 4 

 “Issuer Request” or “Issuer Order” means, with respect to Securities of a series, a
written request or order signed in the name of the Issuer or the Company of such Securities any of the Issuer’s or the Company’s Directors and/or Authorized Officers, and delivered to the Trustee. 
  
 “Judgment Currency” has the meaning specified in Section 1011.

  
 “Maturity”, when used with respect to any Security,
means the date on which the principal of such Security becomes due and payable as therein or established as contemplated by Section 301, whether at the Stated Maturity or by declaration of acceleration, call for redemption, or otherwise. 

 
 “Notice of Default” means a written notice of the kind specified
in Section 501(3). 
  
 “Officers’ Certificate”,
with respect to the Issuer or the Company, means a certificate signed by any Executive Director or Authorized Officer and the Secretary or a Deputy or Assistant Secretary of the Issuer or the Company, as the case may be, and delivered to the
Trustee. 
  
 “Opinion of Counsel” means a written
opinion of counsel, who may be counsel for the Issuer or the Company, and delivered to the Trustee. 
  
 “Original Issue Discount Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
  
 “Outstanding”, when used with respect to Securities, means as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 
  
 (i) Securities theretofore cancelled by the Trustee or
delivered to the Trustee for cancellation; 
  
 (ii) Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Issuer or the Company) in trust or set aside and segregated in trust by the
Issuer (if the Issuer or the Company shall act as its own or their own Paying Agent) for the Holders of such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been made; 
  
 (iii) Securities as to which Defeasance has been effected pursuant to Section 1302; and 
  
 (iv) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands
such Securities are valid obligations of the Issuer; 
  
 provided, however,
that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A)
the principal amount of an Original Issue Discount Security which shall be deemed to be Outstanding shall be 

  

 5 

 
the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section
502, (B) if the principal amount of a Security payable at Maturity is to be determined by reference to an index or indices, the principal amount of such Security that shall be deemed to be Outstanding shall be the face amount thereof, (C) if, as of
such date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as established as contemplated by Section 301, (D)
the principal amount of a Security denominated in one or more foreign currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such date in the manner established as contemplated by
Section 301, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and (E) Securities owned by the Issuer and Company or any other obligor
upon the Securities of any Affiliate of the Issuer and the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith
may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Issuer or the Company or any other obligor upon the
Securities of any Affiliate of the Issuer or the Company or of such other obligor. 
  
 “Paying Agent” means any Person authorized by the Issuer to pay the principal of or any premium or interest on any Securities on behalf of the Issuer. 
  
 “Permitted Sale and Leaseback Transaction” has the meaning
specified in Section 1009. 
  
 “Permitted Security
Interests” means 
  
 (1) Security Interests
arising by operation of law in the ordinary course of business including, without limitation, statutory liens and encumbrances; 
  
 (2) any Security Interest over the assets and/or revenues of a company which became or becomes a Subsidiary of the Issuer or the Company
after the issue date of the relevant Securities and which Security Interest is in existence or contracted to be given as at the date it becomes a Subsidiary (and which was not created in contemplation of it becoming a Subsidiary); 
  
 (3) those Security Interests existing at the issue date of
the relevant Securities; 
  
 (4) Security
Interests securing the performance of bids, tenders, bonds, leases, contracts (other than in respect of Indebtedness), statutory obligations, surety, customs and appeal bonds and other obligations of like nature (but not including obligations in
respect of Indebtedness) incurred in the ordinary course of business; 
  
 (5) Security Interests arising out of judgments or awards which are being contested in good faith and with respect to which an appeal or proceeding for review has been instituted or the time for doing so has not yet
expired; 
  
 (6) Security Interests upon any
property which are created or incurred contemporaneously with the acquisition of such property to secure or provide for the 

  

 6 

 
payment of any part of the purchase price of such property (but no other amounts), provided that any such Security Interest shall not apply to any other
property of the purchaser thereof; 
  
 (7) any
Security Interest arising out of title retention provisions in a supplier’s conditions of supply of goods or services acquired by the Company or any of its Subsidiaries in the ordinary course of its business; 
  
 (8) any right of any bank or financial institution of
combination or consolidation of accounts or right to set-off or transfer any sum or sums standing to the credit of any account (or appropriate any securities held by such bank or financial institution) in or towards satisfaction of any present or
future liabilities to that bank or financial institution; 
  
 (9) any Security Interest securing Indebtedness re-financing Indebtedness secured by Security Interests permitted by clauses (2), (3) or (6) above or this clause (9) provided that the maximum principal amount of the
Indebtedness secured by such Security Interests at the time of such refinancing is not increased and such Security Interests do not extend to any assets which were not subject to the Security Interests securing the re-financed indebtedness;

  
 (10) Security Interests in favor of the
Company or any of its Restricted Subsidiaries; 
  
 (11) any Security Interests created or outstanding on or over any assets of the Company or any Subsidiary issued in connection with an accounts receivable purchase facility provided that the aggregate outstanding amount secured by such
Security Interests permitted by this clause (11) created or outstanding shall not at any time exceed 15% of total assets (meaning fixed assets plus current assets as shown on the Company’s consolidated financial statements) of the Company as
reported at the most recent year-end; and 
  
 (12) any other Security Interest created or outstanding on or over any assets of the Company or any Restricted Subsidiary provided that the aggregate outstanding amount secured by all such Security Interests permitted by this clause (12)
created or outstanding shall not at any time exceed U.S.$40,000,000. 
  
 “Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof. 
  
 “Place of Payment”, when used with respect to the Securities of any series, means the place or places where the
principal of and any premium and interest on the Securities of that series are payable established as contemplated by Section 301. 
  
 “Predecessor Security” of any particular Security, means every previous Security evidencing all or a portion of the same debt as that evidenced
by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt
as the mutilated, destroyed, lost or stolen Security. 
  
 “Property” of any Person means all types of real, personal, tangible, intangible or mixed property (including any related contractual rights) owned by such Person whether or not included 

  

 7 

 
in the most recent consolidated balance sheet of such Person under United States generally accepted accounting principles. 
  
 “Redemption Date” when used with respect to any Security to be
redeemed, means the date fixed for such redemption established as contemplated by Section 301. 
  
 “Redemption Price” when used with respect to any Security to be redeemed, means the price at which it is to be redeemed established as contemplated by Section 301. 
  
 “Regular Record Date” for the interest payable on any Interest
Payment Date on any Security of any series means the date established for that purpose as contemplated by Section 301 irrespective whether such date is a Business Day. 
  
 “Responsible Officer” when used with respect to the Trustee, shall mean an officer assigned to the Corporate Trust
Office, including any managing director, vice president, assistant vice president, senior trust officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above-designated officers and
having direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject. 
  
 “Restricted Subsidiary” shall
mean any Subsidiary whose consolidated revenue shall have exceeded 5% of the consolidated revenues of the Company and its Subsidiaries taken as a whole for that financial year or any other Subsidiary designated by the Company from time to time as a
Restricted Subsidiary in its sole discretion. 
  
 “Sale and
Leaseback Transaction” has the meaning specified in Section 1009. 
  
 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture. 
  
 “Securities Act” means the U.S. Securities Act of 1933 (including any successor act thereto), as it may be amended
from time to time, and (unless the context otherwise requires) includes the rules and regulations of the Commission promulgated thereunder. 
  
 “Security Interests” means, with respect to any Property, any mortgage, lien, pledge, charge or other security interest in respect of such
Property. For purposes of this Indenture, the Company and its Subsidiaries shall be deemed to own, subject to a Security Interest, any Property which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale
agreement, capital lease or other title retention agreement relating to such Property. 
  
 “Security Register” and “Security Registrar” have the respective meanings specified in Section 305. 
  
 “Special Record Date” means, for the payment of any Defaulted Interest, a date fixed by the Trustee pursuant to Section 307. 
  
 “Stated Maturity”, when used with respect to any Security or any
installment of principal thereof or interest thereon, means the date specified as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable established as contemplated by Section 301.

  

 8 

 A “Subsidiary” of a specified person means that specified person holds a majority of the voting
rights in it, or is a member of it and has the right to appoint or remove a majority of its board of directors or is a member of it and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in
it, or if it is a subsidiary of a company which is itself a subsidiary of that specified person. 
  
 “Succession Date” has the meaning specified in Section 1108. 
  
 “Successor Company” and “Successor Person” has the respective meanings specified in Section 801(3).

  
 “taxes” has the meaning specified in Section 1007.

  
 “transfer” means, with respect to any Security, any
sale, pledge, transfer, hypothecation or other disposition of such Security or any interest therein. 
  
 “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939 (including any successor act thereto), as it may be amended from time to time,
and (unless the context otherwise requires) includes the rules and regulations of the Commission thereunder. 
  
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as
used herein shall be deemed to mean the person acting as Trustee with respect to the Securities of any series and shall mean the Trustee with respect to Securities of that series. 
  
 “United States” means the United States of America (including the States thereof and the District of Columbia),
its territories, its possessions and other areas subject to its jurisdiction. 
  
 “U.S. Government Obligation” has the meaning specified in Section 1304. 
  

	SECTION 102.	Compliance Certificates and Opinions. 

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

  
 Each certificate or opinion by or on behalf of the Issuer or
the Company with respect to compliance with a condition or covenant provided for in this Indenture (except for certificates provided for in Section 1004) shall include, 
  
 (1) a statement that each individual signing such certificate or opinion has read such covenant or condition
and the definitions herein relating thereto; 
  
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
  

 9 

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

	SECTION 103.	Form of Documents Delivered to Trustee. 

  
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such
matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
  
 Any certificate or opinion of an officer of the Issuer or of the Company may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based
are erroneous. Any such certificate or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Issuer or the Company, as the case may be,
stating that the information with respect to such factual matters is in the possession of the Issuer or the Company, as the case may be, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous. 
  
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one
instrument. 
  

	SECTION 104.	Acts of Holders; Record Dates. 

  
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be
given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Issuer and the Company. Such instrument or instruments (and the action embodied therein and
evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose
of this Indenture and (subject to Sections 601 and 603) conclusive in favor of the Trustee and the Issuer or the Company, if made in the manner provided in this Section 104. 
  
 (b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the
affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution
thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of 

  

 10 

 
the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee
deems sufficient. 
  
 (c) The ownership of
Securities shall be proved by the Security Register and the Trustee may conclusively rely on such information and shall not be affected by notice to the contrary. 
  
 (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any
Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by
the Trustee, the Issuer or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
  
 (e) The Issuer may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series
entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, provided that
the Issuer may not set a record date for, and the provisions of this paragraph shall not apply with respect to, the giving or making of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set
pursuant to this paragraph, the Holders of Outstanding Securities of the relevant series on such record date, and no other Holders, shall be entitled to take the relevant action, whether or not such Holders remain Holders after such record date;
provided that no such action shall be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this
paragraph shall be construed to prevent the Issuer 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 canceled 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 Issuer, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the
Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 
  
 (f) The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series
entitled to join in the giving or making of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2) or (iv) any direction referred to in
Section 512, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders, shall be entitled to join in
such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided 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 without any action by any Person be canceled and of no effect), nor shall anything in this paragraph be construed to render ineffective any action
taken by Holders of the requisite principal amount of Outstanding 

  

 11 

 
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
expense of the Issuer or the Company, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Issuer and the Company in writing and to each Holder of Securities of the relevant
series in the manner set forth in Section 106. 
  
 (g) With respect to any record date set pursuant to this Section 104, the party hereto that sets such record dates may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier
or later day, provided that no such change shall be effective unless notice of the proposed new Expiration Date is given to the other parties hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth
in Section 106, on or prior to the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 104, the party hereto that 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. 
  

	SECTION 105.	Notices, Etc., to Trustee, Issuer and Company. 

  
 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be
made upon, given or furnished to, or filed with, 
  
 (1) the Trustee by any Holder or by the Issuer or the Company shall be sufficient for every purpose hereunder if in writing and mailed first class postage paid to or otherwise made, given, furnished or filed in writing (which may be by
facsimile) to or with the Trustee at its Corporate Trust Office, Attention: Citibank Agency & Trust, or 
  
 (2) the Issuer or the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to the Issuer or the Company addressed to such party at the respective addresses of their principal offices specified in the first paragraph of this Instrument or at any
other address previously furnished in writing to the Trustee. 
  

	SECTION 106.	Notice to Holders; Waiver. 

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

  

 12 

 
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such waiver. 
  
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the
Trustee shall constitute a sufficient notification for every purpose hereunder. 
  
 The Issuer may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices as a convenience to Holders; provided that any such notice may
state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice and that reliance may be placed only on the other identification numbers printed on the Securities, and any
such notice to Holders shall not be affected by any defect in or omission of such numbers. The Issuer shall promptly notify the Trustee of any change in the “CUSIP” numbers. 
  

	SECTION 107.	Conflict with Trust Indenture Act. 

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

	SECTION 108.	Effect of Headings and Table of Contents. 

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

	SECTION 109.	Successors and Assigns. 

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

  

	SECTION 110.	Separability Clause. 

  
 In case any one or more of the provisions contained in this Indenture, the Securities or the Guarantees shall be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other provisions contained in this Indenture, and to the extent and only to the extent that any such provision is invalid, illegal or unenforceable, this Indenture, the
Securities and the Guarantees shall be construed as if such provision had never been contained herein or therein. 
  

	SECTION 111.	Counterparts. 

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

 13 

	SECTION 112.	Benefits of Indenture. 

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

	SECTION 113.	Governing Law. 

  
 THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, UNITED
STATES OF AMERICA. 
  

	SECTION 114.	Submission to Jurisdiction; Appointment of Agent for Service of Process. 

  
 The Issuer, the Company and the Trustee agree that any legal suit, action or proceeding arising out of or relating to this
Indenture, and each of the Issuer and the Company agrees that any legal suit, action or proceeding arising out of or relating to the Securities and the Guarantees, may be instituted in any U.S. federal or New York state court in the Borough of
Manhattan, The City of New York and in the courts of its own corporate domicile, in respect of actions brought against each such party as a defendant, and each waives any objection which it may now or hereafter have to the laying of the venue of any
such legal suit, action or proceeding, waives any immunity from jurisdiction or to service of process in respect of any such suit, action or proceeding, waives any right to which it may be entitled on account of place of residence or domicile and
irrevocably submits to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding. Each of the Issuer and the Company hereby appoints CT Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York 10011, as its authorized agent (the “Authorized Agent”) upon which process may be served in any legal action or
proceeding against it with respect to its obligations under this Indenture, the Securities of any series or the Guarantee, as the case may be, instituted in any federal or state court in the Borough of Manhattan, The City of New York by the Trustee
or by the Holder of any Security. Each of the Issuer and the Company reserves the right to appoint another person located or with an office in the Borough of Manhattan, The City of New York, selected in their discretion, as a successor Authorized
Agent, and upon acceptance of such appointment by such a successor and notice to the Trustee and the Holders the appointment of the prior Authorized Agent shall terminate. If for any reason the designee, appointee and agent hereunder ceases to be
able to act as the Authorized Agent or to have an address in the Borough of Manhattan, The City of New York, the Issuer and the Company will appoint a successor Authorized Agent in accordance with the preceding sentence. Each of the Issuer and the
Company further agrees to take any and all action, including the filing of any and all documents and instruments, as may be necessary to continue such designation and appointment of such agent in full force and effect until this Indenture has been
satisfied and discharged in accordance with Article Four or Article Thirteen hereof. Service of process upon the Authorized Agent addressed to it at the address set forth above, as such address may be changed within the Borough of Manhattan, The
City of New York by notice given by the Authorized Agent to the Trustee, together with written notice of such service mailed or delivered to the Issuer or the Company shall be deemed, in every respect, effective service of process on the Issuer or
the Company, as the case may be. 
  

	SECTION 115.	Legal Holidays. 

  
 In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security shall not be a Business Day at any Place of Payment, then
(notwithstanding any other 

  

 14 

 
provision of this Indenture or of the Securities (other than a provision of any Security established as contemplated by Section 301 which specifically states
that such provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, as the case may be; provided that no interest with respect to such payment shall accrue for the period from and after such
Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
  
 ARTICLE TWO 
  
 SECURITY FORMS 
  

	SECTION 201.	Forms Generally. 

  
 The Securities of each series, the Trustee’s certificates of authentication and the Guarantees annexed thereto or endorsed thereon, shall be in
substantially the forms set forth in this Article Two or in such other form as shall be established by or pursuant to Board Resolutions or in one or more supplemental indentures hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any
securities exchange or Depositary therefor or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of the Securities, with the Guarantees duly annexed thereto or endorsed thereon. If
the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of each of the Issuer and the Company
and delivered to the Trustee at or prior to the delivery of the Issuer Order contemplated by Section 303 for the authentication and delivery of such Securities. 
  

If Article Fourteen is to be applicable to Securities of any series then the Securities of each such series shall bear a notation of the Guarantee in
substantially the form set forth in Section 204. For any other series of Securities, the Guarantee shall be annexed to or endorsed on the Securities and shall be substantially in the form established by or pursuant to Board Resolutions of the
Guarantor in accordance with Section 301 or one or more indentures supplemental hereto. Notwithstanding the foregoing, the notation of the Guarantee to be annexed to or endorsed on the Securities of any series may have such appropriate insertions,
omissions, substitutions and other corrections from the forms thereof referred to above as are required or permitted by this Indenture and may have such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the Directors or officers delivering the same, in each case as evidenced by such delivery. 
  
 The definitive Securities, with the Guarantees annexed thereto or endorsed
thereon, shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
  

 15 

	SECTION 202.	Form of Face of Security. 

  
 The following legend shall appear on the face of each Global Security: 
  
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A
NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE ISSUER, THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES. 
  
 The following legend shall appear on the face of each Global Security for which The Depository Trust Company is to be the Depositary:

  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR REGISTERED
SECURITIES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE INDENTURE, THIS GLOBAL 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 ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
  
 [Insert any legend required by the Internal Revenue Code and the regulations thereunder] 
  
 WPP FINANCE (UK) 
  

  

				
	No.                     	  	 	 
	CUSIP No.                     	  	 	 
	ISIN No.                     	  	U.S.$	            

  
 WPP Finance (UK)
(herein called the “Issuer”, which term includes any Successor Person under the Indenture hereinafter referred to), a private unlimited liability company organized and existing under the laws of England and Wales, for value received,
hereby promises to pay to                     , or registered assigns, [include if this Security is a Global Security — the
initial principal amount specified on Schedule A hereto (such initial principal amount, as it may from time to time be adjusted by endorsement on Schedule A hereto, is hereinafter referred to as the “principal”)] [include if this
Security is not a Global Security — the principal sum of                             
Dollars] on
                                       
 [if the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from
                     or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on
                             and
                             in each year, commencing
                    , and at the Maturity thereof, at the rate of
            % per annum, until the principal hereof is paid or made available for 

  

 16 

 
payment [if applicable, insert — , provided that any principal [and premium], and any such installment of interest, which is overdue shall bear
interest at the rate of             % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are
paid or made available for payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
                     or
                     (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest so
payable, but not so punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10
days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in said Indenture]. 
  
 [If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except in the case of a default in payment of principal upon acceleration, upon redemption or at Stated
Maturity and in such case the overdue principal [and any overdue premium] shall bear interest at the rate of             % per annum (to the extent that the payment of such interest
shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal [or premium] shall be payable on demand. Any such interest on overdue principal or premium which
is not paid on demand shall bear interest at the rate of             % per annum (to the extent that the payment of such interest on interest shall be legally enforceable), from the
date of such demand until the amount so demanded is paid or made available for payment. Interest on any overdue interest shall be payable on demand.] 
  
 Payment of the principal of [(and premium, if any)] and [if applicable, insert — any such] interest on this Security shall be made pursuant to
the Applicable Procedures of the Depositary as permitted in the Indenture, provided, however, that if this Security is not a Global Security, payment may be made at the office or agency of the Issuer maintained for that purpose in New
York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of this Security in the case of any payment due at the Maturity of the
principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); and provided, further, that at the option of the Issuer, payment of interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the Security Register [if applicable, insert — ; and provided, further, that at the option of the Issuer payments of any interest on the Securities (other than at
Maturity) may be made, in the case of a registered Holder of at least U.S.$5,000,000 principal amount of Securities, by electronic funds transfer of immediately available funds to a United States dollar account maintained by the payee, provided such
registered Holder so elects by giving written notice to the Trustee or a Paying Agent designating such account, no later than 15 days immediately preceding the relevant date for payment (or such other date as the Trustee may accept in its
discretion). Unless such designation is revoked, any such designation made by such Holder with respect to such Securities shall remain in effect with respect to any future payments with respect to such Securities payable to 

  

 17 

 
such Holder. The Issuer will pay any administrative costs imposed by banks in connection with making payments by wire transfer.]] 
  
 Reference is hereby made to the further provisions of this Security set forth
on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
  
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed by a Director or Authorized Officer. 
  
 Dated:                     
  

			
	 WPP FINANCE (UK)

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

	SECTION 203.	Form of Reverse of Security. 

  
 This Security is one of a duly authorized issue of securities of the Issuer (herein called the “Securities”), issued and to be issued in one or
more series under an Indenture, dated as of June 23, 2004 (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), [as supplemented by a
                     Supplemental Indenture, dated as of
                             , 20        , each
]among the Issuer, WPP Group plc, a public limited company organized and existing under the laws of England and Wales (herein called the “Company,” which term includes any Successor Person under the Indenture) and Citibank, N.A., as
Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture[, as supplemented by the
                     Supplemental Indenture,] for a statement of the respective rights, limitations of rights, duties and immunities
thereunder of the Issuer, the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof
[if applicable, insert — , limited in aggregate principal amount to U.S.$                    ]. 
  
 [If applicable, insert — The Securities of this series are
subject to redemption upon not less than 30 days’, nor more than 60 days’, notice, [If applicable, insert – (1) on
                             in any year commencing with the year
                     and ending with the year              through operation of
the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2)] [if applicable, insert — on or after
                            , 20        ], as a
whole or in part, at the election of the Issuer, at the following Redemption Prices (expressed as percentages of the principal amount): If redeemed [if applicable, insert — on or before
                    ,             %, and if redeemed] during the
12-month period beginning                      of the years indicated, 
  

							
	 Year

	  	 Redemption
 Price

	  	 Year

	  	 Redemption
 Price

  

 18 

 and thereafter at a Redemption Price equal
to            % of the principal amount, together in the case of any such redemption [If applicable, insert — (whether through operation of the sinking fund or
otherwise)] with accrued interest to the Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date shall be payable to the Holders of such Securities or one or more Predecessor Securities, of record at
the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.] 
  
 [If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 days’, nor more than 60
days’, notice by mail, [If applicable, insert- (1) on              in any year commencing with the year
                     and ending with the year
                    , and (2)] at any time [If applicable, insert — on or after
                    , 20        ], as a whole or in part, at the election of the Issuer at 100%
of the principal amount of such Securities plus a premium (determined by the Issuer) equal to the excess, if any, of (i) the present value of all interest and principal payments scheduled to become due after the date of such redemption in respect of
the portion of such Securities to be redeemed (such present value to be determined by the Issuer on the basis of a discount rate equal to the yield on maturity on U.S. Treasury instruments with a maturity as close as practicable to the remaining
average life of such Securities) over (ii) the principal amount of such Securities to be redeemed.] 
  
 [If applicable, insert – The Securities of this series are subject to redemption upon not less than 30 days’, nor more than 60
days’, notice by mail, (1) on                      in any year commencing with the year
                     and ending with the year
                     through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the
sinking fund (expressed as percentages of the principal amount) set forth in the table below, and (2) at any time [If applicable, insert — on or after
                    ], as a whole or in part, at the election of the Issuer, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period beginning
                     of the years indicated, 
  

					
	 Year

	 	 Redemption Price For
 Redemption
 Through Operation
 Of the Sinking Fund

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

  
 and thereafter at a Redemption Price
equal to             % of the principal amount, together in the case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the
Redemption Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more 

  

 19 

 
Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

  
 [If applicable, insert – Notwithstanding the
foregoing, the Issuer may not, prior to                             , redeem any Securities of this
series as contemplated by [If applicable, insert – Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly or indirectly, of moneys borrowed having an interest cost
to the Issuer (calculated in accordance with generally accepted financial practice) of less than             % per annum.] 
  
 If applicable, insert – [In addition to its ability to redeem
this Security pursuant to the foregoing, this] [This] Security may be redeemed by the Issuer on the terms set forth and as more fully described in the Indenture, in certain circumstances where the Issuer or the Company would be required to pay
Additional Amounts in respect hereof as a result of a change or amendment of any law, regulation or published tax ruling of the jurisdiction in which the Issuer, the Company or any Successor Person are organized pursuant to Article Eight of the
Indenture, or any political subdivision or taxing authority thereof or therein, affecting taxation, or change in the official administration, interpretation or application thereof, in each case occurring after the issue date hereof or which change
in such official administration, interpretation or application shall not have been available to the public prior to the issue date hereof, which change shall require the Issuer or the Company to pay Additional Amounts.] 
  
 [If applicable, insert – The sinking fund for this series
provides for the redemption on                      in each year beginning with the
year                     and ending with the year
                     of [if applicable, insert – not less than U.S.
$                     (“mandatory sinking fund”) and not more than] U.S.
$                     aggregate principal amount of Securities of this series. Securities of this series acquired or redeemed by the Issuer
otherwise than through [if applicable, insert — mandatory] sinking fund payments otherwise required to be made [if applicable, insert — , in the inverse order which they become due].] 
  
 [If the Security is subject to redemption of any kind, insert —
In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.] 
  
 [If the Security is not an Original Issue Discount Security, insert
— If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.]

  
 [If the Security is an Original Issue Discount Security,
insert — If an Event of Default with respect to Securities of this series shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in
the Indenture. Such amount shall be equal to — insert formula for determining the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in
each case to the extent that the payment of such interest shall be legally enforceable), all of the Issuer’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall
terminate.] 
  
 The Indenture contains provisions for
defeasance at any time of the entire indebtedness of the series of which this Security is a part or certain restrictive covenants and Events of Default 

  

 20 

 
with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
  
 In any case where the due date for the payment of the principal amount of, or
any premium or interest with respect to, any Security or the date fixed for redemption of any Security shall not be a Business Day at a Place of Payment, then payment of the principal amount, premium, if any, or interest, need not be made on such
date at such Place of Payment, with the same force and effect as if made on the date for such payment or the date fixed for redemption, and no interest shall accrue for the period after such date. 
  
 All payments pursuant to the Securities and the Guarantee shall be made
without withholding or deduction for, or on account of, any present or future taxes, duties, levies, assessments or governmental charges of whatever nature (“taxes”) imposed or levied by or on behalf of the jurisdiction (or any political
subdivision or taxing authority thereof or therein) (i) in which the Issuer or the Company is incorporated or resident (or deemed for tax purposes to be resident), (ii) in which the Issuer or the Company makes payment on the Securities or the
Guarantees or (iii) in the United States (the “applicable taxing jurisdiction”), unless such taxes are required by the applicable taxing jurisdiction or any such subdivision or authority to be withheld or deducted. In that event, the
Issuer or the Company will pay by way of additional interest such additional amounts of, or in respect of, principal and any premium and interest (including additional interest that may be payable pursuant to the registration rights agreement)
(“Additional Amounts”) as will result (after deduction of such taxes and any additional taxes payable in respect of such Additional Amounts) in the payment to each Holder of such Securities of the amounts which would have been payable in
respect of such Security or Guarantee had no such withholding or deduction been required, except that no Additional Amounts shall be so payable for or on account of: 
  
 (1) any taxes that would not have been imposed but for the fact that such Holder: 
  
 (a) was a resident, domiciliary or national of, or engaged
in business or maintained a permanent establishment or was physically present in, the applicable taxing jurisdiction or otherwise had some connection with the applicable taxing jurisdiction other than the mere ownership of, or receipt of payment
under, such Security or Guarantee; 
  
 (b)
presented (if presentation is required) such Security or Guarantee for payment in the applicable taxing jurisdiction, unless such Security or Guarantee could not have been presented for payment in another member state of the European Union; or

  
 (c) presented (if presentation is required)
such Security or Guarantee, as the case may be, more than thirty (30) days after the date on which the payment in respect of such Security first became due and payable or provided for, whichever is later, except to the extent that the Holder would
have been entitled to such additional amounts if it had presented such Security or Guarantee for payment on any day within such period of thirty (30) days; 
  
 (2) any estate, inheritance, gift, sale, transfer, personal property or similar taxes; 
  

 21 

 (3) any taxes that are payable otherwise than by withholding or deduction from payments
of, or in respect of, principal of or any premium or interest on the Securities or Guarantee, as the case may be; 
  
 (4) any taxes that are imposed or withheld by reason of the failure to comply by the Holder or the beneficial owner of a Security with a
request of the Issuer or the Company addressed to the Holder and received by such Holder 30 days prior to the first payment date with respect to which such information is required (a) to provide information concerning the nationality, residence or
identity of the Holder or such beneficial owner or (b) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the case of (a) or (b), is required or imposed by a statute, treaty, regulation or
administrative practice of the applicable taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge; 
  
 (5) any tax imposed on a payment to an individual and required to be made pursuant to the European Council
Directive 2003/48/EC or any other Directive implementing the conclusions of the ECOFIN Council meeting of November 26-27, 2000 on the taxation of savings income or any law implementing or complying with, or introduced to conform to, such Directive;

  
 (6) any taxes payable by or on behalf of a
Holder who would have been able to avoid such withholding or deduction by presenting the relevant note, receipt or coupon to another Paying Agent in a member state of the European Union; or 
  
 (7) any combination of items (1), (2), (3), (4), (5) and
(6); 
  
 nor shall Additional Amounts be paid with respect to any payment of the
principal of or any premium or interest (or any additional interest that may be payable pursuant to the Registration Rights Agreement) on any such Security or Guarantee to any Holder who is a fiduciary or partnership or other than the sole
beneficial owner of such payment to the extent such payment would be required by the laws of the applicable taxing jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of
such partnership or a beneficial owner who would not have been entitled to such Additional Amounts had it been the Holder of the Security. 
  
 All references herein, in the Indenture, and in one or more supplemental indentures thereto, the Securities and the Guarantees to principal, premium, if
any, interest or any other amount payable in respect of any Security shall be deemed to include all Additional Amounts, if any, payable in respect of such principal, premium, interest or other amount payable, unless the context otherwise requires,
and express mention of the payment of Additional Amounts in any provision hereof shall not be construed as excluding reference to Additional Amounts in those provisions hereof where such express mention is not made. 
  
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Issuer and the Company, on the one hand, and the rights of the Holders of the Securities of each series on the other hand to be affected under the Indenture at any time by
the Issuer, the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of
specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive, on behalf of the Holders of all 

  

 22 

 
Securities of such series, compliance by the Issuer or the Company, or all or any of them, with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of
transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
  
 [If applicable, insert — Under the laws of England and Wales and subject to the requirements described below, the Company is permitted to
reduce its share premium account, thereby increasing its distributable reserves, each as reflected in its consolidated financial statements. Reducing the share premium account would require the passing of a special resolution of the Company’s
shareholders authorizing such reduction and the sanction of the English High Court. The consent of the Holders would be required in order to obtain the sanction of the English High Court. To the extent permitted by applicable law, each Holder hereof
agrees that, to the extent that the Company elects to reduce its share premium account, the Trustee, on behalf of the Holders and at the request of the Company, is authorized and directed to give its consent to any such reduction.] 
  
 As provided in and subject to the provisions of the Indenture, the Holder of
this Security shall not have the right to institute any proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to
any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
  
 No reference herein to the Indenture and no provision of this Security or of
the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed. 
  
 As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Issuer in any place where the principal of and
any premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer, the Company and the Security Registrar duly executed by, the Holder hereof or his
attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees.

  
 The Securities of this series are issuable only in registered
form without coupons in denominations of U.S.$                     and any integral multiple of U.S.$1,000 in excess thereof. As provided in
the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of 

  

 23 

 
like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
  
 No service charge shall be made for any such registration of transfer or
exchange, but the Issuer or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  

Prior to due presentment of this Security for registration of transfer, the Issuer, the Company, the Trustee and any agent of the Issuer, the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Issuer, the Company, the Trustee nor any such agent shall be affected by
notice to the contrary. 
  
 [This Security is a Global Security
and is subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities.] 
  
 This Security, the Guarantees and the Indenture shall be governed by, and construed in accordance with, the laws of the
State of New York. 
  
 All terms used in this Security and the
Guarantee set forth below which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

  
 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription of the face of this
Security, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

			
	TEN COM - as tenants in common	 	UNIF GIFT MIN
ACT—                            
	TEN ENT - as tenants by the	 	             (Cust)

	            entireties	 	Custodian                              under
Uniform
	JT TEN - as joint tenants with right	 	     (Minor)

	              of survivorship and not as	 	Gifts to Minors Act
                            
	              tenants in common	 	             (State)

  
 Additional
abbreviations may also be used 
 though not in the above list. 
  

 24 

 [IF SECURITY IS A GLOBAL SECURITY, INSERT AS A SEPARATE PAGE— 
  
 Schedule A 
  
 SCHEDULE OF ADJUSTMENTS 
  
 Initial Principal Amount: U.S.$ 
  

									
	 Date
 adjustment
 made

	  	 Principal
 amount
 increase

	  	 Principal
amount decrease

	  	 Principal
 amount
 following
 adjustment

	  	 Notation made
 on behalf of the
 Security
 Registrar

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

  

	SECTION 204.	Form of Notation of Guarantee. 

  
 WPP Group plc, a public limited company duly incorporated in England and Wales (the “Company”, which term includes any Successor Person under
the Indenture), has fully and 

  

 25 

 
unconditionally guaranteed, pursuant to the terms of the Guarantee contained in Article Fourteen of the Indenture[, as supplemented by the
             Supplemental Indenture], the due and punctual payment of the principal of and any premium and interest (including additional interest and Additional Amounts, if any) on
such Security, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call for redemption or otherwise, in accordance with the terms of such Securities and the Indenture[, as supplemented
by the              Supplemental Indenture]. 
  
 All payments pursuant to the Guarantee shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, levies,
assessments or governmental charges of whatever nature imposed or levied by or on behalf of the jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the Company or any Successor Company is incorporated or
resident (or deemed for tax purposes to be resident) (the “applicable taxing jurisdiction”) unless such taxes, duties, levies, assessments or governmental charges are required by the applicable taxing jurisdiction or any such subdivision
or authority to be withheld or deducted. In that event, the Company will pay such Additional Amounts (as defined in the Indenture[, as supplemented by the              Supplemental
Indenture]) as will result (after deduction of such taxes, duties, levies assessments or governmental charges and any additional taxes, duties, levies, assessments or governmental charges payable in respect of such) in the payment to each Holder of
a Security of the amounts which would have been payable in respect of the Guarantee thereof had no such withholding or deduction been required, subject to certain exceptions as set forth in Section 1007 of the Indenture[, as supplemented by the
             Supplemental Indenture]. 
  
 The obligations of the Company to the Holders of the Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in
Article Fourteen of the Indenture[, as supplemented by the              Supplemental Indenture], and reference is hereby made to such Article and Indenture[, as supplemented by the
             Supplemental Indenture], for the precise terms of the Guarantee. 
  
 The Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Security upon which this notation of the
Guarantee is endorsed shall have been executed by the Trustee under the Indenture, [as supplemented by the              Supplemental Indenture,] by the manual signature of one of its
authorized signatories. 
  
 The Guarantee shall be governed by,
and construed in accordance with, the laws of the State of New York. 
  
 The Guarantee is subject to release upon the terms set forth in the Indenture[, as supplemented by the              Supplemental Indenture]. 
  

			
	 WPP GROUP PLC

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  

 26 

	SECTION 205.	Form of Trustee’s Certificate of Authentication. 

  
 The Trustee’s certificate of authentication shall be in substantially the following form: 
  
 Certificate of Authentication: 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  
 Dated:
                     
  

			
	 CITIBANK, N.A.,
as Trustee

		
	By:	 	 
	 	 	 Authorized Signatory

  
 ARTICLE THREE

  
 THE SECURITIES 
  

	SECTION 301.	Amount Unlimited; Issuable in Series. 

  
 The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
  
 The Securities may be issued in one or more series. There shall be
established in or pursuant to Board Resolutions of the Issuer and the Company, as appropriate, and, subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more supplemental
indentures hereto, prior to the issuance of Securities of any series, 
  
 (1) the title of the Securities, including “CUSIP” and “ISIN” numbers, of the series (which shall distinguish the Securities of the series from Securities of any other series); 
  
 (2) any limit upon the aggregate principal amount of the
Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, or upon partial redemption of, other
Securities of the series pursuant to Section 304, 305, 306, 906 or 1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 
  
 (3) the Person to whom any interest on a Security of the
series shall be payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 
  

 27 

 (4) the date or dates on which the principal of, and any premium on, the Securities of
the series is payable; 
  
 (5) the rate or rates
at which the Securities of the series shall bear interest, if any, the date or dates from which any such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any interest
payable on any Interest Payment Date; 
  
 (6) the
place or places where the principal of and any premium and interest on Securities of the series shall be payable and the manner in which any payment may be made; 
  
 (7) if applicable, the period or periods within which, the price or prices at which and the terms and
conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Issuer of such Securities and, if other than by a Board Resolution, the manner in which any election by the Issuer of such Securities to
redeem the Securities shall be evidenced and any provisions in addition to or in lieu of the provisions of Article Eleven applicable to Securities of the series; 
  
 (8) the obligation, if any, of the Issuer to redeem or purchase any Securities of the series pursuant to any
sinking fund or analogous provision or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the series shall be redeemed or purchased, in
whole or in part, pursuant to such obligation and any provisions in addition to or in lieu of the provisions of Article Twelve applicable to Securities of the series; 
  
 (9) if other than denominations of U.S.$1,000 and any integral multiple of U.S.$1,000 in excess thereof, the
denominations in which any Securities of the series shall be issuable; 
  
 (10) if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall be
determined; 
  
 (11) if other than the currency
of the United States of America, the currency, currencies or currency units (including composite currencies) in which payment of the principal of and any premium and interest on any Securities of the series shall be payable and the manner of
determining the equivalent thereof in the currency of the United States of America for any purpose, including for purposes of the definition of “Outstanding” in Section 101; 
  
 (12) if the principal of or any premium or interest on any Securities of the series is to be payable, at the
election of the Issuer or the Holder thereof, in one or more currencies or currency units (including composite currencies) other than that or those in which such Securities are stated to be payable, the currency, currencies or currency units
(including composite currencies) in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods within which and the terms and conditions upon which such election is to be made
and the amount so payable (or the manner in which such amount shall be determined); 
  

 28 

 (13) 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 502; 
  
 (14) if other than as provided in Section 201, the form or forms of the Securities; 
  
 (15) if the Securities will be entitled to the benefits of
the Guarantee afforded by Article Fourteen of the Indenture or, if not, the form of the Guarantee to be endorsed on the Securities; 
  
 (16) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more
dates prior to the Stated Maturity, the amount which shall be deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable
upon any Maturity other than the Stated Maturity or which shall be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined);

  
 (17) where appropriate, that the Securities
of the series, in whole or any specified part, shall not be defeasible pursuant to Section 1302 or Section 1303 or both such Sections and, if other than by a Board Resolution, the manner in which any election by the Issuer to defease such Securities
shall be evidenced; 
  
 (18) if applicable, that
any Securities of the series shall be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any
such Global Security in addition to or in lieu of that set forth in Section 202 and any circumstances in addition to or in lieu of those set forth in Section 305 in which any such Global Security may be exchanged in whole or in part for Securities
registered, and any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof, and any circumstances in addition or in lieu of
those set forth in Section 305 in which transfers of interests in Global Securities may be made; 
  
 (19) any addition to or change in the covenants set forth in Article Ten which applies to the Securities of the series; and 
  
 (20) any other terms of the series (which terms shall not be
inconsistent with the provisions of this Indenture, except as permitted by Section 901(5)). 
  
 All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be established in or pursuant to Board Resolutions or supplemental indentures referred to above.

  
 To the extent any terms of the Securities of the series are
established pursuant to Board Resolutions or supplemental indentures, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Issuer or the Company, as the case may be, and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 
  

 29 

	SECTION 302.	Denominations. 

  
 The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of U.S.$1,000 and any integral multiples of U.S.$1,000 in
excess thereof. 
  

	SECTION 303.	Execution, Authentication, Delivery and Dating. 

  
 The Securities and Guarantee to be annexed to or endorsed on the Securities shall be executed on behalf of the Issuer and the Company by any one Director
or Authorized Officer of the Issuer and the Company, as the case may be. The signature of any such Director or Authorized Officer of the Issuer and the Company on the Securities and any Guarantees, as the case may be, may be manual or facsimile. The
notation of the Guarantee endorsed on the Securities of such series shall be executed as provided in Section 1402. 
  
 Securities or any Guarantee bearing the manual or facsimile signatures of individuals who were at any time the proper Director or Authorized Officer of
the Issuer or the Company, as the case may be, shall bind the Issuer or the Company, as the case may be, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such
Securities or Guarantee or did not hold such offices at the date of such Securities or the Guarantee. 
  
 At any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver Securities of any series executed by the
Issuer bearing the notation of the Guarantee pursuant to Article Fourteen or having the Guarantee endorsed thereon, as applicable, in each case executed by the Company, to the Trustee for authentication, together with an Issuer Order for the
authentication and delivery of such Securities, and the Trustee in accordance with such Issuer Order shall authenticate and deliver such Securities. In authenticating such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to Sections 601 and 603) shall be fully protected in relying upon, an Opinion of Counsel stating, 
  
 (1) if any form of such Securities or Guarantee has been
established pursuant to Board Resolutions or indentures supplemental hereto as permitted by Section 201, that such form has been established in conformity with the provisions of this Indenture; 
  
 (2) if any terms of such Securities or Guarantee have been
established pursuant to Board Resolution or indentures supplemental hereto as permitted by Section 301, that such terms have been established in conformity with the provisions of this Indenture; 
  
 (3) that all conditions precedent to the authentication and
delivery of such securities have been complied with and that such Securities and the Guarantee thereof, when such Securities have been authenticated and delivered by the Trustee and issued by the Issuer and the Company in the manner and subject to
any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Issuer and the Company, respectively, enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles and to such other matters as counsel shall specify therein; and 
  

 30 

 (4) that all applicable laws and requirements in respect of the execution and delivery by
the Company of such Securities have been complied with. 
  
 The
Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities, the Guarantee and this Indenture or
otherwise in a manner which is not reasonably acceptable to the Trustee or if the Trustee, being advised by counsel, determines that such action may not be lawfully taken. 
  
 Notwithstanding the provisions of Section 301 and of the second preceding paragraph, if all Securities of a series are not
to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Issuer Order and Opinion of Counsel otherwise required pursuant to such second preceding
paragraph at or prior to the authentication of such Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued and reasonably contemplate the
original issuance of such Security of such series. 
  
 Each
Security shall be dated on the date of its authentication. 
  
 No
Security or related Guarantee shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein
executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security or Guarantee has been duly authenticated and delivered hereunder. Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Issuer, and the Issuer shall deliver such Security to the Trustee for cancellation as provided in Section 309, for all purposes of this
Indenture such Security and any Guarantee shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture including, if applicable, the Guarantee. 
  
 The delivery of any Security by the Trustee, after the authentication thereof
hereunder, shall constitute delivery of the Guarantee endorsed or noted thereon on behalf of the Company. The Company by its execution of this Indenture hereby authorizes the Issuer, in the name and on behalf of the Company, to confirm the Guarantee
to the Holder of each Security authenticated and delivered hereunder by its execution and delivery of each such Security, with such Guarantee noted or endorsed thereon, authenticated and delivered by the Trustee. When delivered pursuant to the
provisions of Section 303 hereof, only the Guarantee endorsed or noted on the Securities shall bind the Company notwithstanding the fact that the Guarantee does not bear the signature of the Company. 
  

	SECTION 304.	Temporary Securities. 

  
 Pending the preparation of definitive Securities of any series, the Issuer may execute temporary Securities, and the Company may execute, as applicable,
the notation of the Guarantee pursuant to Article Fourteen of the Guarantee annexed to or endorsed on, and upon compliance with Section 303 the Trustee shall authenticate and deliver, such temporary Securities which are printed, lithographed,
typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other
variations as the Directors or Authorized Officers executing such Securities or Guarantee or notations of the 

  

 31 

 
Guarantee pursuant to Article Fourteen, as applicable, may determine, as evidenced by their execution of such Securities or Guarantee or notations, as the
case may be. 
  
 If temporary Securities of any series are issued,
the Issuer will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive
Securities of such series upon surrender of the temporary Securities of such series at the office or agency of such Issuer in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more
temporary Securities of any series, the Issuer shall execute, and the Company shall execute, as applicable, the notation of the Guarantee pursuant to Article Fourteen or the Guarantee annexed to or endorsed on, and the Trustee shall authenticate and
deliver in exchange therefor, one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 
  

	SECTION 305.	Registration, Registration of Transfer and Exchange. 

  
 (a) General 
  
 The Issuer shall cause to be kept at the Corporate Trust Office a register (the register maintained in such office and in any other office or agency of
the Issuer in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Issuer shall provide for the registration of Securities
and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 
  
 Upon surrender for registration of transfer of any Security of a series at the office or agency of the Issuer in a Place of
Payment for that series, the Issuer shall execute, and the Company shall execute, as applicable, the notation of the Guarantee pursuant to Article Fourteen or the Guarantee endorsed on, and the Trustee shall authenticate and deliver in the name of
the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like terms and aggregate principal amount and with the notation of the Guarantee pursuant to Article Fourteen or the
Guarantee endorsed thereon. 
  
 Subject to this Section 305, at
the option of the Holder, Securities of any series may be exchanged for other Securities of the same series, of any authorized denominations and of like terms and aggregate principal amount and with the notation of the Guarantee pursuant to Article
Fourteen or the Guarantee endorsed thereon, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Issuer shall execute, and the Company shall execute the notation of
the Guarantee on, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
  
 All Securities issued upon any registration of transfer or exchange of Securities and the Guarantee shall be the valid obligations of the Issuer and the
Company, respectively, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange and the Guarantee thereof. 
  
 Every Security presented or surrendered for registration of transfer or for
exchange shall (if so required by the Issuer or the Security Registrar) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Security Registrar and 

  

 32 

 
duly executed, by the Holder thereof or his attorney duly authorized in writing. Such transfer or exchange will be effected upon the Security Registrar being
satisfied with the documents of title and identity of the people making the request. 
  
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Issuer or the Company, as the case may be, may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer. 
  
 If the Securities of any series are to be redeemed in part, the Issuer shall
not be required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified terms, as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption in
whole or in part, except the unredeemed portion of any Security being redeemed in part. 
  
 (b) Global Securities 
  
 Except as otherwise provided pursuant to Section 301, this Section 305(b) shall apply only to Global Securities. 
  
 (1) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary designated for such Global
Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for all purposes of this Indenture. 
  
 (2) Notwithstanding any other provision in this Indenture or
the Securities, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any Person other than the Depositary or a nominee thereof
unless (A) the Depositary (i) has notified the Issuer that it is unwilling or unable to continue as Depositary for such Global Security and a successor Depositary is not appointed within 90 days or (ii) has ceased to be a clearing agency registered
under the Exchange Act and a successor Depositary is not appointed within 90 days, (B) there shall have occurred and be continuing an Event of Default with respect to the Securities of such series or (C) a request for certificates has been made by
the Issuer upon 60 days’ prior written notice given to the Trustee in accordance with the Depositary’s customary procedures and a copy of such notice has been received by the Issuer from the Trustee. Any Global Security exchanged pursuant
to Clause (A) above shall be so exchanged in whole and not in part and any Global Security exchanged pursuant to Clause (B) or (C) above may be exchanged in whole or from time to time in part as directed by the Depositary. Any Security issued in
exchange for a Global Security or any portion thereof shall be a Global Security, provided that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global
Security. 
  
 (3) Securities issued in exchange
for a Global Security or any portion thereof pursuant to Clause (2) above shall be issued in definitive, fully registered form, without interest coupons, shall have an aggregate principal amount equal to that of such Global Security or portion
thereof to be so exchanged, shall be registered in such names and be 

  

 33 

 
in such authorized denominations as the Depositary shall designate and shall bear any legends required hereunder. Any Global Security to be exchanged in
whole shall be surrendered by the Depositary to the Trustee, as Security Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as
custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records
of the Trustee. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof. 
  
 (4) In the event of the occurrence of any of the events
specified in Clause (2) above, the Company shall promptly make available to the Trustee a reasonable supply of certificated Securities in definitive, fully registered form, without interest coupons. 
  
 (5) Neither any members of, or participants in, the
Depositary (“Agent Members”) nor any other Persons on whose behalf Agent Members may act (including Euroclear Bank, S.A./N.V. (“Euroclear”) and Clearstream Banking, S.A. (“Clearstream”) and account holders and
participants therein) shall have any rights under this Indenture with respect to any Global Security, or under any Global Security, and the Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of
the Company or the Trustee as the absolute owner and holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from
giving effect to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other person on whose behalf an Agent Member
may act, the operation of customary practices of such Persons governing the exercise of the rights of a Holder of any Security. 
  

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

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

 34 

 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and
payable, the Issuer or the Company, each in its discretion may, instead of issuing a new Security, pay such Security. 
  
 Upon the issuance of any new Security under this Section, the Issuer or the Company, as the case may be, may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
  
 Every new Security of any series issued pursuant to this Section in exchange for any mutilated Security or in lieu of any
destroyed, lost or stolen Security, and the Guarantee thereof, shall constitute an original contractual obligation of the Issuer and the Company, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities and Guarantee of that series duly issued hereunder. 
  
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
  

	SECTION 307.	Payment of Interest; Interest Rights Preserved. 

  
 Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose
name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. 
  
 Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Issuer, at its election in each case, as
provided in Clause (1) or (2) below: 
  
 (1) The
Issuer or the Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest, which shall be fixed in the following manner. The Issuer or the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date
of the proposed payment, and at the same time the Issuer shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee
for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Issuer or the Company shall fix a
Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the
proposed payment. The Issuer or the Company shall promptly notify the Trustee of such Special Record Date and, in the name and at the expense of the Issuer or the Company, the Trustee 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 Holder of Securities of such series in the manner set 

  

 35 

 
forth in Section 106, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record
Date and shall no longer be payable pursuant to the following Clause (2). 
  
 (2) The Issuer or the Company may make payment of any Defaulted Interest on the Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such
Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Issuer or the Company to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed
practicable by the Trustee. 
  
 Subject to the foregoing
provisions of this Section 307, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Security. 
  

	SECTION 308.	Persons Deemed Owners. 

  
 Prior to due presentment of a Security for registration of transfer, the Issuer, the Company, the Trustee and any agent of the Issuer, the Company or the
Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Section 307) interest on such Security and for all other
purposes whatsoever, whether or not such Security be overdue, and none of the Issuer, the Company, the Trustee nor any agent of the Issuer, the Company or the Trustee shall be affected by notice to the contrary. 
  

	SECTION 309.	Cancellation. 

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

	SECTION 310.	Computation of Interest. 

  
 Except as otherwise established as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed
on the basis of a 360-day year of twelve 30-day months. 
  

 36 

	SECTION 311.	CUSIP and ISIN Numbers. 

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

	SECTION 401.	Satisfaction and Discharge of Indenture. 

  
 This Indenture shall upon request of the Issuer, made in an Issuer Request, cease to be of further effect (except as provided in the last paragraph to
this Section 401) with respect to the Issuer’s and the Company’s obligations in respect of all Securities of the Issuer, and the Trustee, at the expense of the Issuer, shall execute instruments in form and substance satisfactory to the
Trustee, the Issuer and the Company acknowledging satisfaction and discharge of this Indenture with respect to the Issuer and its Securities, when 
  
 (a) either 
  
 (1) all Securities of the Issuer theretofore authenticated and delivered (other than (i) Securities which have been destroyed, lost or
stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer or the Company and thereafter repaid to the
Issuer or the Company, as the case may be, or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 
  

(2) all such Securities not theretofore delivered to the Trustee for cancellation 
  
 (i) have become due and payable, or 
  
 (ii) will become due and payable at their Stated Maturity
within one year, or 
  
 (iii) are to be called
for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, 
  
 and the Issuer or the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited
with the Trustee as trust funds for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to
the date of such 

  

 37 

 
deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
  
 (b) the Issuer or the Company has paid or caused to be paid
or made provision satisfactory to the Trustee for the payment of all other sums payable hereunder by the Issuer; and 
  
 (c) the Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
  
 Notwithstanding the satisfaction and discharge of this Indenture with respect to the Issuer and the Securities of the Issuer, this Indenture shall remain
in full force and effect with respect to the Company with respect to the Guarantee of such Securities. 
  
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer and the Company to the Trustee and the lien of the Trustee under Section 607, the obligations of the Trustee to any
Authenticating Agent under Section 614, any obligations of the Trustee under Section 402, the rights and obligations set forth in the last paragraph of Section 1003 and any rights of registration of transfer, exchange or replacement of Securities
provided in Sections 304, 305, 306, 906, 1002 or 1107 and any rights to Additional Amounts pursuant to Section 1007 shall survive. 
  

	SECTION 402.	Application of Trust Money. 

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

	SECTION 501.	Events of Default. 

  
 “Event of Default”, wherever used herein with respect to Securities of any series of the Issuer or the Guarantee thereof, means any one of the
following events with respect to the Issuer of such series or the Company (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order
of any court or any order, rule or regulation of any administrative or governmental body): 
  
 (1) default in the payment of the principal of or any premium on any Security of that series at its Maturity; or 
  
 (2) default in the payment of any interest (including
Additional Amounts, if any) upon any Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days; or 
  

 38 

 (3) default in the performance, or breach, of any other covenant or warranty of the
Issuer of the Securities of that series or the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section 501 specifically dealt with or which has expressly been
established as contemplated by Section 301 solely for the benefit of a series of Securities other than that series) and continuance of such default or breach for a period of 45 days after there has been given, by registered or certified mail, to the
Issuer and the Company by the Trustee or to the Issuer, the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach, requiring it to
be remedied and stating that such notice is a “Notice of Default” hereunder; or 
  
 (4) a default or defaults under any bond, debenture, note or other evidence of indebtedness for money borrowed by the Issuer or the
Company (including a default with respect to Securities of any series other than that series) having an aggregate principal amount outstanding of at least U.S.$25,000,000 (or the equivalent thereof in other currencies or currency units), or under
any mortgage, indenture, agreement or instrument (including this Indenture) under which there may be issued or by which there may be secured or evidenced any indebtedness for money borrowed by the Issuer or the Company having an aggregate principal
amount outstanding of at least U.S.$25,000,000 (or the equivalent thereof in other currencies or currency units), whether such indebtedness now exists or shall hereafter be created, which default shall have resulted in such indebtedness (in each
such case being, such indebtedness of at least U.S.$25,000,000 (or the equivalent thereof in other currencies or currency units) aggregate principal amount outstanding) becoming or being validly declared due and payable prior to the date on which it
would otherwise have become due and payable, without such indebtedness having been discharged or such acceleration having been rescinded or annulled within a period of 10 days after there shall have been given, by registered or certified mail, to
the Issuer and the Company by the Trustee a written notice specifying such default and requiring the Issuer or the Company, as the case may be, to cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled, as
the case may be, and stating that such notice is a “Notice of Default” hereunder; provided, however, that, subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have knowledge or notice of such
default unless either (A) a Responsible Officer shall have actual knowledge of such default or (B) the Trustee shall have received at the Corporate Trust Office written notice of such default from the Issuer, from the Company, or from the trustee
under any such mortgage, indenture or other instrument; or 
  
 (5) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Issuer or the Company or any of their Restricted Subsidiaries in an involuntary case or proceeding
under any applicable bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Issuer or the Company or any of their Restricted Subsidiaries a bankrupt or insolvent, or approving as properly filed a petition
seeking reorganization, arrangement, adjustment or composition of or in respect of the Issuer or the Company or any of their Restricted Subsidiaries, as the case may be, under any applicable law, or appointing a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Issuer, the Company or any of their Restricted Subsidiaries or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of
any such decree or order for relief or any such other decree or order unstayed and in 

  

 39 

 
effect for a period of 60 consecutive days in any such case other than such decree or order made or a resolution passed for the purposes of a reconstruction,
amalgamation or reorganization where the Issuer or the Company or the relevant Restricted Subsidiary is solvent; or 
  
 (6) the commencement by the Issuer or the Company or any of their Restricted Subsidiaries of a voluntary case or proceeding under any
applicable bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Issuer or the
Company or any of their Restricted Subsidiaries, as the case may be, in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or
proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a
custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Issuer or the Company or any of their Restricted Subsidiaries or of any substantial part of its property, or the making by it of an assignment for the
benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Issuer or the Company or any of their Restricted Subsidiaries in furtherance of any such
action in any such case other than such case or proceeding undertaken, consent given or filing made for the purposes of a reconstruction, amalgamation or reorganization where the Issuer or the Company or the relevant Restricted Subsidiaries is
insolvent; 
  
 (7) the Guarantee of Securities of
that series is held by a final, non-appealable order resulting from any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect or the Company or any Person acting on behalf of the Company, denies
or disaffirms is obligations under the Guarantee of Securities of that series; or 
  
 (8) any other Event of Default established as contemplated by Section 301 with respect to Securities of that series. 
  

	SECTION 502.	Acceleration of Maturity; Rescission and Annulment. 

  
 If an Event of Default with respect to Securities of any series of the Issuer at the time Outstanding occurs and is continuing, then in every such case
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series of the Issuer may declare the principal amount of all the Securities of that series of the Issuer (or, if any Securities of that series
are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof established as contemplated by Section 301) to be due and payable immediately, by a notice in writing to the
Issuer and the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. 
  
 At any time after such a declaration of acceleration with respect to Securities of any series at the time Outstanding has
been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article Five provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of that
series, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences if 
  

 40 

 (1) the Issuer or the Company have paid or deposited with the Trustee a sum sufficient to
pay 
  
 (A) all overdue interest and any
Additional Amounts thereon on all of the Securities of that series, 
  
 (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor
in such Securities, 
  
 (C) to the extent that
payment of such interest is lawful, interest upon overdue interest at the rate or rates established pursuant to Section 301 therefor, and 
  
 (D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel and all amounts due to the Trustee under Section 607; and 
  
 (2) all Events of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that
series which has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 
  
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
  

	SECTION 503.	Collection of Indebtedness and Suits for Enforcement by Trustee. 

  
 The Issuer and the Company covenant that if: 
  
 (1) default is made in the payment of any interest (including any Additional Amounts) on any Security when such interest becomes due and
payable and such default continues for a period of 30 days, or 
  
 (2) default is made in the payment of the principal (including any Redemption Price) of (or premium, if any, on) any Security at the Maturity thereof, 
  
 the Issuer and the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount
then due and payable on such Securities for principal and any premium and interest, and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate
or rates established pursuant to Section 301 therefor, together with any Additional Amounts thereon, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable
compensation, expenses, fees, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 
  
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of that series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
  

 41 

	SECTION 504.	Trustee May File Proofs of Claim. 

  
 In case of any judicial proceeding relative to the Issuer and the Company (or any other obligor upon the Securities of a series), their property or their
creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 
  

	SECTION 505.	Trustee May Enforce Claims Without Possession of Securities. 

  
 All rights of action and claims under this Indenture or the Securities or the Guarantees may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and other amounts due to it under Section 607, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered. 
  

	SECTION 506.	Application of Money Collected. 

  
 Any money and other property collected by the Trustee pursuant to this Article Five shall be applied in the following order, at the date or dates fixed by
the Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
  
 FIRST: To the payment of all amounts
due the Trustee under Section 607; 
  
 SECOND: To
the payment of the amounts then due and unpaid for principal of and any premium and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind,
according to the amounts due and payable on such Securities for principal and any premium and interest, respectively; and 
  
 THIRD: The balance, if any, to the Issuer, to the Company or any other Person or Persons entitled thereto. 
  

	SECTION 507.	Limitation on Suits. 

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

 42 

 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of
that series shall have made written request to the Trustee to institute action or proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
  
 (3) such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee
against the costs, expenses and liabilities to be incurred in compliance with such request; 
  
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such action or
proceeding; and 
  
 (5) no direction inconsistent
with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
  
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by
availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. For the protection and enforcement of the provisions of this Section 507, each and every Holder of the Outstanding Securities of any series
and the Trustee shall be entitled, subject to Section 513, to such relief as can be given at law or in equity. 
  

	SECTION 508.	Unconditional Right of Holders to Receive Principal, Premium and Interest. 

  
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute
and unconditional, to receive payment of the principal of and any premium and (subject to Section 307) interest on such Security pursuant to the terms thereof or the Guarantee thereof (and any Additional Amounts) on the respective Stated Maturities
expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
  

	SECTION 509.	Restoration of Rights and Remedies. 

  
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued
or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Issuer, the Company, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 
  

	SECTION 510.	Rights and Remedies Cumulative. 

  
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of
Section 306, no right or remedy herein 

  

 43 

 
conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to
the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
  

	SECTION 511.	Delay or Omission Not Waiver. 

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

	SECTION 512.	Control by Holders. 

  
 Subject to Section 603(5), the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of any series shall have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that

  
 (1) such direction shall not be in conflict
with any rule of law or with this Indenture, 
  
 (2) the Trustee shall not determine that the action so directed would be unjustly prejudicial to the Holders not taking part in such direction or result in individual liability for the Trustee, or 
  
 (3) the Trustee may take any other action deemed proper by
the Trustee which is not inconsistent with such direction, 
  
 provided,
further that the Trustee shall be under no obligation to determine whether any such direction shall be in such conflict or so unjustly prejudicial. 
  
 Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not
inconsistent with such direction by Holders of Securities. 
  

	SECTION 513.	Waiver of Past Defaults. 

  
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities
of such series waive any past default hereunder with respect to such series and its consequences, except a default 
  
 (1) in the payment of the principal of or any premium or interest (including Additional Amounts, if any) on any Security of such series,
or 
  

 44 

 (2) in respect of a covenant or provision hereof which under Article Nine cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
  
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose
of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 
  

	SECTION 514.	Undertaking for Costs. 

  
 In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted
by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs, including reasonable attorneys’ fees and expenses, against any such party litigant, in the manner
and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted
by the Issuer or the Company, the Trustee or any Holder or group of Holders holding in aggregate more than 10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of
the payment of the principal of or any premium or interest on any Outstanding Security of any series on or after the due date expressed in such Security in accordance with its terms. 
  

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

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

	SECTION 601.	Certain Duties and Responsibilities. 

  
 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds
for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of this Section 601. 
  
 Except during the continuance of an Event of Default, (1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth
in this Indenture, and no 

  

 45 

 
implied covenants or obligations shall be read into this Indenture against the Trustee; and (2) in the absence of bad faith on its part, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; 
  
 In case an Event of Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his own affairs. 
  

	SECTION 602.	Notice of Defaults. 

  
 If a default occurs hereunder with respect to Securities of any series of which the Trustee has knowledge, the Trustee shall give the Holders of
Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in Section 501(3) with respect to Securities of such
series, no such notice to Holders shall be given until at least 45 days after the occurrence thereof. For the purpose of this Section 602, the term “default” means any event which is, or after notice or lapse of time or both would become,
an Event of Default with respect to Securities of such series. 
  

	SECTION 603.	Certain Rights of Trustee. 

  
 Subject to the provisions of Section 601: 
  
 (1) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, security, bond, debenture, note, other evidence of indebtedness 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; 
  
 (2) any request or direction of the Issuer mentioned herein shall be sufficiently evidenced by an Issuer Request or Issuer Order and any resolution of the Board of Directors of the Issuer or the Company may be
sufficiently evidenced by a Board Resolution; 
  
 (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein
specifically prescribed) may, in the absence of bad faith on its part, rely conclusively upon an Officers’ Certificate; 
  
 (4) the Trustee may consult with counsel of its own choice and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  
 (5) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or
direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security 

  

 46 

 
or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction; 
  
 (6) the Trustee shall not be bound
to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, security, bond, debenture, note, other evidence of indebtedness or other
paper or document in connection with this Indenture, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

 
 (7) the Trustee may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;
provided that the Trustee shall be required to terminate any such agent if it has actual knowledge of any failure by such agent to perform its delegated duties; 
  
 (8) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that the repayment of such funds or adequate indemnity against such
risk or liability is not reasonably assured; 
  
 (9) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Trustee, unless it shall be proved that the Trustee was reckless or grossly negligent in ascertaining the pertinent facts;

  
 (10) the Trustee shall not be deemed to have
notice of any default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the
Trustee, and such notice references the Securities and this Indenture; 
  
 (11) the permissive rights of the Trustee enumerated herein shall not be construed as duties; 
  
 (12) 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; 
  
 (13) the rights, privileges, protections, immunities and benefits given to the Trustee, including, without
limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder; and 
  
 (14) the Trustee may request that the Company deliver an
Officers’ 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 Officers’ Certificate may be signed by 

  

 47 

 
any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and
not superseded. 
  

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

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

	SECTION 605.	May Hold Securities. 

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

	SECTION 606.	Money Held in Trust. 

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

	SECTION 607.	Compensation and Reimbursement. 

  
 The Issuer and the Company jointly and severally agree: 
  
 (1) to pay to the Trustee from time to time such reasonable compensation for all services rendered by it hereunder (which compensation
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust and any payments 60 days past due shall be made with interest at the Trustee’s prime lending rate): 
  
 (2) except as otherwise expressly provided herein, to
reimburse the Trustee upon its request for all reasonable expenses, fees, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses, fees and
disbursements of its agents and counsel), except to the extent any such expense, disbursement or advance may be attributable to its negligence or willful misconduct; and 
  
 (3) to indemnify each of the Trustee and its agents for, and to defend and hold it harmless against, any
loss, liability or expense (including the reasonable compensation and the expenses and disbursements of its agents and counsel and including taxes payable by it, other than taxes based upon, measured by or determined by the income of the Trustee or
such agent), arising out of or in connection with the acceptance or administration of the trust or trusts hereunder or the performance of its duties hereunder, including the costs and expenses of defending itself against any claim 

  

 48 

 
(whether asserted by the Issuer the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or willful misconduct. 
  
 “Trustee” for purposes of this Section 607 shall include any predecessor Trustee, but the negligence or willful misconduct of any Trustee shall
not affect the rights or obligations any other Trustee hereunder. 
  
 To secure the obligations under this Section 607, the Issuer, the Company and the Holders acknowledge that pursuant to the trust arrangements hereunder, the Trustee has a first-priority lien against all money or other property held by the
Trustee. 
  
 When the Trustee incurs expenses or renders services
in connection with an Event of Default specified in Section 501(5) or Section 501(6), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 
  
 The provisions of this Section 607 shall survive the resignation or removal of the Trustee and the termination of this Indenture. 
  

	SECTION 608.	Conflicting Interests. 

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

	SECTION 609.	Corporate Trustee Required; Eligibility. 

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

	SECTION 610.	Resignation and Removal; Appointment of Successor. 

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

 49 

 The Trustee may resign at any time with respect to the Securities of one or more series by giving written
notice thereof to the Issuer and the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning
Trustee may petition any court of competent jurisdiction, at the expense of the Company, for the appointment of a successor Trustee with respect to the Securities of such series. 
  
 The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in
principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Issuer and the Company. 
  
 If at any time: 
  
 (1) the Trustee shall fail to comply with Section 608 after written request therefor by the Issuer or the Company or by any Holder who has
been a bona fide Holder of a Security for at least six months, 
  
 (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Issuer or the Company or by any such Holder, or 
  
 (3) the Trustee shall become incapable of acting or shall be
adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, 
  
 then, in any such case, (A) the Issuer or the Company by a Board
Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
  
 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to
the Securities of one or more series, the Issuer and the Company, by Board Resolutions, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Issuer, the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with
the applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Issuer and the Company. If no successor Trustee with respect
to the Securities of any series shall have been so appointed by the Issuer and the Company or the Holders and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
  

 50 

 The Issuer shall give notice, or shall cause the Security Registrar to give notice, of each resignation
and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106.
Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
  

	SECTION 611.	Acceptance of Appointment by Successor. 

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

 51 

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

	SECTION 612.	Merger, Conversion, Consolidation or Succession to Business. 

  
 Any Person into which the Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation or other entity succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such Person shall
be otherwise qualified and eligible under this Article, without execution or filing of any paper or any further act on the part of any of the parties hereto. As soon as practicable, the successor Trustee shall mail a notice of its succession to the
Issuer, the Company and the Holders of the Securities then Outstanding. 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 and itself authenticated such Securities. 
  

	SECTION 613.	Preferential Collection of Claims Against Issuer or Company. 

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

	SECTION 614.	Appointment of Authenticating Agent. 

  
 The Trustee with the consent of the Issuer and the Company, may appoint an Authenticating Agent or Agents with respect to one or more series of Securities
of the Issuer which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series 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. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, except upon original issue or pursuant to Section 306, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Issuer and shall at all times be a corporation organized and doing business under the laws of the United States of
America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than U.S.$50,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be the combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of
this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 
  
 Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or 

  

 52 

 
consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an
Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 
  
 An Authenticating Agent may resign at
any time by giving written notice thereof to the Trustee, to the Issuer and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent, to the Issuer and
to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a
successor Authenticating Agent which shall be acceptable to the Issuer and shall give notice of such appointment in the manner provided in Section 106 to all Holders of Securities of the series with respect to which such Authenticating Agent will
serve. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder. with like effect as if originally named as an Authenticating Agent. No
successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
  
 The Issuer agrees to pay to such Authenticating Agent from time to time reasonable compensation for its services under this Section. 
  

 53 

 If an appointment with respect to one or more series is made pursuant to this Section, the Securities of
such series may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternative certificate of authentication in the following form: 
  
 This is one of the Securities referred to in the within-mentioned Indenture. 
  

			
	 CITIBANK, N.A.,

 as Trustee

		
	By:	 	 
	 	 	as Authenticating Agent

  

			
		
	 By:
	 	 
	 	 	Authorized Signatory

  
 If all of the
Securities of a series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Issuer wishes to have Securities of such
series authenticated upon original issuance, the Trustee, if so requested by the Issuer in writing or by facsimile (which writing need not comply with Section 102 and need not be accompanied by an Opinion of Counsel), shall appoint in accordance
with this Section an Authenticating Agent having an office in a Place of Payment designated by the Issuer with respect of such series of Securities. 
  

	SECTION 615.	Trustee’s Duties Regarding Changes in Share Premium Account. 

  
 Under the laws of England and Wales and subject to the requirements described below, the Company is permitted to reduce its share premium account, thereby
increasing its distributable reserves, each as reflected in its consolidated financial statements. Reducing the share premium account would require the passing of a special resolution of the Company’s shareholders authorizing such reduction and
the sanction of the English High Court. The consent of the Holders would be required in order to obtain the sanction of the English High Court. To the extent permitted by applicable law, each Holder hereby agrees that, to the extent that the Company
elects to reduce its share premium account, the Trustee, on behalf of the Holders and at the request of the Company, is authorized and directed to give its consent to any such reduction. 
  
 ARTICLE SEVEN 
  
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND
ISSUER AND COMPANY 
  

	SECTION 701.	Issuer to Furnish Trustee Names and Addresses of Holders. 

  
 The Issuer and the Company will furnish or cause the Security Registrar to furnish to the Trustee 
  
 (a) semi-annually, not later than ten days after each
Regular Record Date with respect to each series of Securities, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Outstanding Securities of such series as of such Regular Record Date, and

  

 54 

 (b) at such other times as the Trustee may reasonably request in writing, within 30 days
after the receipt by the Issuer or the Company, as the case may be, of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
  
 excluding from any such list names and addresses received by the Trustee in its
capacity as Security Registrar. 
  

	SECTION 702.	Preservation of Information; Communications to Holders. 

  
 The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list
furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 701 upon receipt of a
new list so furnished. 
  
 The rights of Holders of the Securities
of any series to communicate with other Holders of Securities of such series with respect to their rights under this Indenture or under the Securities or the Guarantee, and the corresponding rights and privileges of the Trustee, shall be as provided
by the Trust Indenture Act. 
  
 Every Holder of Securities, by
receiving and holding the same, agrees with the Issuer, the Company and the Trustee that neither the Issuer, the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names
and addresses of Holders made pursuant to the Trust Indenture Act or other applicable law. 
  

	SECTION 703.	Reports by Trustee. 

  
 Within 60 days of each June 30, beginning with June 30, 2005, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
  
 A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Securities
are listed, with the Commission and with the Issuer. The Issuer will notify the Trustee when any Securities are listed on any stock exchange. 
  

	SECTION 704.	Reports by Issuer and Company. 

  
 (a) The Issuer and the Company shall file with the Trustee and the Commission, and transmit to Holders of Securities, such information,
documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to
be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission pursuant to Section 1012. 
  
 (b) With respect to the Securities of any series and for so
long as the Securities of such series are Outstanding, the Issuer and the Company shall furnish to the Trustee as soon as practicable, at the expense of the Issuer and the Company, and the Trustee shall promptly distribute to the Holders of
Securities of such series, any other information as is specified in a 

  

 55 

 
supplemental indenture or Board Resolution as contemplated by Section 301 for Securities of such series. 
  
 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 Issuer’s and/or the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

	SECTION 705.	Calculation of Original Issue Discount. 

  
 The Issuer or the Company shall provide to the Trustee on a timely basis such information as the Trustee requires to enable the Trustee to prepare and
file any form required to be submitted by the Issuer and/or Company with the U.S. Internal Revenue Service and the Holders of the Securities relating to original issue discount, including, without limitation, Form 1099-OID or any successor form.

  
 ARTICLE EIGHT 
  
 CONSOLIDATION, MERGER,
CONVEYANCE, TRANSFER OR LEASE 
  

	SECTION 801.	Issuer or Company May Consolidate, Etc. Only on Certain Terms. 

  
 Neither the Issuer nor the Company may consolidate with or merge with or into any other Person or convey, transfer or lease all or substantially all of
its properties and assets to any Person, unless: 
  
 (1) any Person formed by such consolidation or into which the Issuer or the Company is merged or to whom the Issuer or the Company has conveyed, transferred or leased all or substantially all of its properties and assets is a corporation,
partnership or trust, organized and validly existing under the laws of England and Wales and such Person expressly assumes, by a supplemental indenture, executed and delivered to the Trustee, the Issuer’s and the Company’s obligations on
the Securities and the performance or observance of every covenant of this Indenture and any related registration rights agreement on the part of the Issuer or the Company to be performed or observed (including any obligation to pay any Additional
Amounts and, in the case of the Company, the performance or observance of its Guarantee); 
  
 (2) in the case of such consolidation, merger, conveyance, transfer or lease by the Company, immediately after giving effect to such
transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; 
  
 (3) any such Person shall expressly agree, by an indenture supplemental hereto, executed and delivered to
the Trustee, in form satisfactory to the Trustee, to indemnify the Holder of each Security of the Issuer against (i) any tax, duty, levy, assessment or governmental charge imposed on such Holder or required to be withheld or 

  

 56 

 
deducted from any payment to such Holder as a consequence of such consolidation, merger, conveyance, transfer or lease, and (ii) any costs or expenses of the
act of such consolidation, merger, conveyance, transfer or lease; and 
  
 (4) the Issuer or the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental
indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
  

	SECTION 802.	Successor Substituted. 

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

  
 SUPPLEMENTAL INDENTURES

  

	SECTION 901.	Supplemental Indentures without Consent of Holders. 

  
 Without the consent of any Holders, the Issuer or the Company when authorized by a Board Resolution of the Issuer or the Company, as the case may be, and
the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
  
 (1) to evidence the succession of another Person to the Issuer or the Company and the assumption by any such
successor of the covenants of the Issuer or the Company herein and in the Securities or Guarantees; or 
  
 (2) to add to the covenants of the Issuer or the Company or to surrender any right or power herein conferred upon the Issuer or the
Company for the benefit of the Holders of all or any series of Securities (and if such covenants or surrenders are to be for the benefit of less than all series of Securities, stating that such covenants or surrenders are expressly being included
solely for the benefit of such series); or 
  
 (3) to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such
additional Events of Default are expressly being included solely for the benefit of such series); or 
  

 57 

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

  
 (5) to add to, change or eliminate any of the
provisions of this Indenture in respect of one or more series of Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or 
  
 (6) to secure the Securities pursuant to the requirements of
Article Ten or otherwise; or 
  
 (7) to establish
the form or terms of Securities of any series as permitted by Sections 201 or 301; or 
  
 (8) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or
more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611; or

  
 (9) to modify the restrictions on the
transferability of any Securities, and the procedures for resales and other transfers of the Securities to reflect any change in applicable law or regulation (or the interpretation thereof) or to provide alternative procedures in compliance with
applicable law and practices relating to the resale or other transfer of restricted securities generally; or 
  
 (10) to add one or more additional guarantors of the obligations under the Securities and this Indenture for the benefit of all or any
series of Securities; or 
  
 (11) to cure any
ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that
such action pursuant to this clause (11) shall not adversely affect the interests of the Holders of Securities of any series in any material respect. 
  
 (12) to make any other change that does not adversely affect the interests of the Holders of the Securities in any material respect; or

  
 (13) to amend this Indenture to conform to
the provisions of the Trust Indenture Act as in effect at the time of the execution of such supplemental indenture. 
  

	SECTION 902.	Supplemental Indentures with Consent of Holders. 

  
 With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by such supplemental
indenture, by Act of said Holders delivered to the Issuer, the Company and the Trustee, the Issuer and the Company, when authorized by Board Resolutions of, respectively, the Issuer and the Company, and the Trustee may enter into one or more
supplemental indentures hereto for the purpose of adding any 

  

 58 

 
provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of
Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, 
  
 (1) change the Stated Maturity of the principal of, or any
installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or change any obligation of the Issuer or the Company to pay any
Additional Amounts or reduce the amount of the principal of an Original Issue Discount Security or any other Security which would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or modify in any
way the Issuer’s obligation to pay Additional Amounts pursuant to Section 1007 or change any Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute
suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or 
  
 (2) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for
any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or 

 
 (3) modify any of the provisions of this Section 902,
Section 513 or Section 1010, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby,
provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 902 and Section 1010, or the
deletion of this proviso, in accordance with the requirements of Sections 612 and 901(8), or 
  
 (4) change in any manner adverse to the interests of the Holders of Securities of any series of the Issuer the terms and conditions of the
obligations of the Company under the Guarantees in respect of the due and punctual payment of the principal thereof and any premium and interest thereon (and any Additional Amounts in respect thereof) or any sinking fund payments provided in respect
thereof. 
  
 A supplemental indenture which changes or eliminates
any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series. 
  
 It shall not be necessary for any Act of Holders under this Section 902 to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such Act shall approve the substance thereof. 
  

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	SECTION 903.	Execution of Supplemental Indentures. 

  
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article Nine or the modifications thereby of the
trusts created by this Indenture, the Trustee shall be entitled to receive, in addition to the documents required under Section 102, and (subject to Section 601 and 603) shall be fully protected in relying upon, an Opinion of Counsel stating that
the execution of such supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent have been complied with. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
  

	SECTION 904.	Effect of Supplemental Indentures. 

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

	SECTION 905.	Conformity with Trust Indenture Act. 

  
 Subsequent to the qualification of this Indenture under the Trust Indenture Act, every supplemental indenture executed pursuant to this Article Nine shall
conform to the requirements of the Trust Indenture Act. 
  

	SECTION 906.	Reference in Securities to Supplemental Indentures. 

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

	SECTION 1001.	Payment of Principal, Premium and Interest. 

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

	SECTION 1002.	Maintenance of Office or Agency. 

  
 With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by Section 301, the Corporate Trust
Office of the Trustee shall 

  

 60 

 
be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where
successor Securities may be delivered in exchange therefor; provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such Global Security shall
be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
  
 With respect to any securities that are not in the form of a Global Security, the Issuer shall maintain in each Place of Payment, including, without
limitation, in the Borough of Manhattan, The City of New York, an office or agency where Securities may be presented or surrendered for payment, where Securities may be surrendered for registration of transfer or exchange and where notices and
demands to or upon the Issuer in respect of the Securities and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Issuer 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 Issuer hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands. 
  
 The Issuer may also from time to time designate one or more offices or agencies where the Securities of one or more series of the Issuer may be presented
or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain an office or
agency in each Place of Payment for Securities of any series for such purposes. The Issuer will give prompt written notice to the Trustee of an such designation or rescission and of any change in the location of any such other office or agency.

  
 The Company will maintain in each Place of Payment for any
series of Securities to which its Guarantee applies an office or agency where Securities of such series may be presented or surrendered for payment pursuant to any Guarantee and where notices and demands to or upon the Company in respect of any
Guarantee and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as
its agent to receive all such presentations, surrenders and demands. 
  
 The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series to which its Guarantee applies may be presented or surrendered for such purpose or where such notices or
demands may be served and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of
Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 
  

	SECTION 1003.	Money for Security Payments to Be Held in Trust. 

  
 If the Issuer or the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date
of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the 

  

 61 

 
Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and will promptly notify the Trustee in writing of its action or failure so to act. 
  
 Whenever the Issuer shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal of or any
premium or interest on any Securities of that series, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided in the Trust Indenture Act in trust for the benefit of the Persons entitled to such principal or
any premium or interest, and (unless such Paying Agent is the Trustee) the Issuer will promptly notify the Trustee in writing of its action or failure so to act. If the Paying Agent pays out any amount due under the terms of the Securities on or
after the due date therefor on the assumption that the corresponding payment for such amount has been or will be made by the Issuer and such payment has in fact not been so made by the Issuer prior to the time that the Paying Agent pays such amount,
then the Issuer, on demand, shall reimburse the Paying Agent for such amount and pay interest to the Paying Agent on such amount from the date on which it is paid out to the date of reimbursement at a rate per annum equal to the cost to the Paying
Agent of funding the amount paid out as certified by the Paying Agent and expressed as a rate per annum. Nothing in this Section 1003 shall require the Paying Agent to pay out any amount due under the terms of the Securities prior to receiving
payment thereof from the Issuer or the Company. 
  
 The Issuer
will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying
Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Issuer or the Company (or any other obligor upon the Securities of that series) in the
making of any payment in respect of the Securities of that series or any Guarantee, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Securities of that
series or the Guarantee. 
  
 The Issuer may at any time, for the
purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Issuer or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Issuer or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to
such money. 
  
 Any money deposited with the Trustee or any Paying
Agent, or then held by the Issuer or the Company, in trust for the payment of the principal of or any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium, interest or Additional
Amounts has become due and payable shall be paid to the Issuer or to the Company by the Trustee or such Paying Agent, or (if then held by the Issuer or the Company) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Issuer or the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer or the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may, at the expense of the Issuer, cause to be published once, in a newspaper published in the
English language and in any local newspaper required by any stock exchange on which such Securities are then listed, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains
unclaimed and that, after a date specified 

  

 62 

 
therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining shall be repaid to the
Issuer. 
  

	SECTION 1004.	Statement by Officers as to Default. 

  
 The Issuer and the Company will deliver to the Trustee, within 120 days after the end of each fiscal year ending after the date hereof, an Officers’
Certificate (one of which officers signing such certificate shall be, for the purposes of this Section 1004, the principal executive officer, the principal financial officer or the principal accounting office of the Issuer and the Company), stating
whether or not to the knowledge of the signers thereof the Issuer or the Company, as the case may be, is in compliance with all conditions and covenants under this Indenture (without regard to any period of grace or requirement of notice provided
hereunder) and if the Issuer or the Company, as the case may be, shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 
  
 The Issuer and the Company shall deliver to the Trustee, as soon as possible and in any event within 10 days after the
Issuer or the Company becomes aware that a default or an Event of Default, or an event that, with notice or the lapse of time or both, would constitute an Event of Default, as the case may be, has occurred and is continuing, an Officers’
Certificate setting forth the details of such Event of Default or default and the action which the Issuer proposes to take with respect thereto. 
  

	SECTION 1005.	Existence. 

  
 Subject to Article Eight, the Issuer and the Company each will do or cause to be done all things necessary to preserve and keep in full force and effect
its existence, rights (charter and statutory) and franchises; provided, however, that the Issuer and the Company shall not be required to preserve any such right or franchise if its respective Board of Directors shall determine in a Board
Resolution that the preservation thereof is no longer desirable in the conduct of the business of the Issuer or the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
  

	SECTION 1006.	Payment of Taxes and Other Claims. 

  
 The Issuer and the Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments
and governmental charges levied or imposed upon the Issuer or the Company or upon the income, profits or property of the Issuer or the Company, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien
upon the property of the Issuer or the Company; provided, however, that the Issuer and the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount,
applicability or validity is being contested in good faith by appropriate proceedings. 
  

	SECTION 1007.	Additional Amounts. 

  
 All payments pursuant to the Securities and the Guarantees on the Securities, shall be made without withholding or deduction for, or on account of, any
present or future taxes, duties, levies, assessments or governmental charges of whatever nature (“taxes”) imposed or levied by or on behalf of the jurisdiction (or any political subdivision or taxing authority thereof or therein) (i) in
which the Issuer or the Company is incorporated or resident (or deemed for tax purposes to be resident), (ii) in which the Issuer or the Company makes payment on the Securities or Guarantees or (iii) in the United States (the “applicable taxing
jurisdiction”), unless such taxes are required 

  

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by the applicable taxing jurisdiction or any such subdivision or authority to be withheld or deducted. In that event, the Issuer and the Company will pay by
way of additional interest such additional amounts of, or in respect of, principal and any premium and interest (including additional interest that may be payable pursuant to any registration rights agreement) (“Additional Amounts”) as
will result (after deduction of such taxes and any additional taxes payable in respect of such Additional Amounts) in the payment to each Holder of such Securities of the amounts which would have been payable in respect of such Guarantee had no such
withholding or deduction been required, except that no Additional Amounts shall be so payable for or on account of: 
  
 (1) any taxes that would not have been imposed but for the fact that such Holder: (A) was a resident, domiciliary or national of, or
engaged in business or maintained a permanent establishment or was physically present in, the applicable taxing jurisdiction or otherwise had some connection with the applicable taxing jurisdiction other than the mere ownership of, or receipt of
payment under, such Security or the Guarantee; (B) presented (if presentation is required) such Security or Guarantee for payment in the applicable taxing jurisdiction, unless such Security or Guarantee could not have been presented for payment in
another member state of the European Union; or (C) presented (if presentation is required) such Security or Guarantee, as the case may be, more than thirty (30) days after the date on which the payment in respect of such Security first became due
and payable or provided for, whichever is later, except to the extent that the Holder would have been entitled to such Additional Amounts if it had presented such Security or Guarantee for payment on any day within such period of thirty (30) days;

  
 (2) any estate, inheritance, gift, sale,
transfer, personal property or similar taxes; 
  
 (3) any taxes that are payable otherwise than by withholding or deduction from payments of (or in respect of) principal of or any premium or interest on the Security or the Guarantee thereof; 
  
 (4) any taxes that are imposed or withheld by reason of the
failure to comply by the Holder or the beneficial owner of a Security with a request of the Issuer or the Company addressed to the Holder and received by such Holder 30 days prior to the first payment date with respect to which such information is
required (A) to provide information concerning the nationality, residence or identity of the Holder or such beneficial owner or (B) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the
case of (A) or (B), is required or imposed by statute, treaty, regulation or administrative practice of the applicable taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge;

  
 (5) any tax imposed on a payment to an
individual and required to be made pursuant to the European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and Finance Ministers (“ECOFIN”) meeting of November 26-27,
2000 on the taxation of savings income or any law implementing or complying with, or introduced to conform to, such Directive; 
  
 (6) any taxes payable by or on behalf of a Holder who would have been able to avoid such withholding or deduction by presenting the
relevant note, receipt or coupon to another Paying Agent in a member state of the European Union; or 
  

 64 

 (7) any combination of items (1), (2), (3), (4), (5) and (6); 
  
 nor shall Additional Amounts be paid with respect to any payment of the principal of or any
premium or interest (or any additional interest that my be payable pursuant to any registration rights agreement) on any such Security or Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such
payment to the extent such payment would be required by the laws of the applicable taxing jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a
beneficial owner who would not have been entitled to such Additional Amounts had it been the Holder of the Security. 
  
 Whenever in this Indenture there is mentioned, in any context, payment pursuant to the Securities or the Guarantee such mention shall be deemed to include
mention of the payment of Additional Amounts provided for in this Section to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and express mention of the
payment of Additional Amounts in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 
  
 The Issuer or the Company will (i) make any required withholding or deduction and (ii) remit the full amount deducted or
withheld to the applicable taxing jurisdiction in accordance with applicable law. The Issuer or the Company will use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any taxes so deducted or withheld from
each applicable taxing jurisdiction imposing such taxes and will provide such certified copies to each Holder. The Issuer or the Company will attach to each certified copy a certificate stating (x) that the amount of withholding taxes evidenced by
the certified copy was paid in connection with payments in respect of the principal amount of notes then outstanding and (y) the amount of such withholding taxes paid per U.S.$1,000 principal amount of the Securities. Copies of such documentation
will be available for inspection during ordinary business hours at the office of the Trustee by the Holders of the Securities upon request and will be made available at the offices of the Paying Agent located in Luxembourg if the Securities are then
listed on the Luxembourg Stock Exchange. 
  
 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 (unless such obligation to pay Additional Amounts arises shortly before or after the 30th day prior to such date, in which case it
shall be promptly thereafter), if the Issuer or the Company will be obligated to pay Additional Amounts with respect to such payment, the Issuer or the Company will deliver to the Trustee an Officers’ Certificate stating the fact that such
Additional Amounts will be payable, the amounts so payable and will set forth such other information necessary to enable the Trustee to pay such Additional Amounts to Holders on the payment date. Each such Officer’s Certificate shall be relied
upon until receipt of a further Officers’ Certificate addressing such matters. 
  
 If the Issuer or the Company conducts business in any jurisdiction (an “additional taxing jurisdiction”) other than an applicable taxing jurisdiction and, as a result, is required by the law of such
additional taxing jurisdiction to deduct or withhold any amount on account of taxes imposed by such additional taxing jurisdiction from payments under the Securities or the Guarantee, as the case may be, which would not have been required to be so
deducted or withheld but for such conduct of business in such additional taxing jurisdiction, the Additional Amounts provision described above shall be considered to apply to such Holders as if references in such provision to “taxes”
included taxes imposed by way of deduction or withholding by any such additional taxing jurisdiction (or any political subdivision thereof or taxing authority therein). 
  

 65 

 The Issuer or the Company will pay any present or future stamp, court or documentary taxes, or any other
excise or property taxes, charges or similar levies which arise in any jurisdiction from the execution, delivery or registration of any Security or any other document or instrument referred to therein (other than a transfer of the Securities), or
the receipt of any payments with respect to the Securities or the Guarantee, excluding any such taxes, charges or similar levies imposed by any jurisdiction outside Luxembourg, the United States, the United Kingdom or any jurisdiction in which a
Paying Agent is located, other than those resulting from, or required to be paid in connection with, the enforcement of the Securities, the Guarantee or any other such document or instrument following the occurrence of any Event of Default with
respect to the notes. 
  
 The foregoing obligations will survive
any termination, defeasance or discharge of the Indenture and will apply mutatis mutandis to any jurisdiction in which any successor to the Company or the Issuer is organized or any political subdivision or taxing authority or agency thereof or
therein. 
  
 The Issuer undertakes that it will ensure that it
maintains a Paying Agent in a member state of the European Union that is not obliged to withhold or deduct tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the ECOFIN meeting of November
26-27, 2000 or any law implementing or complying with, or introduced in order to conform to, such Directive and that at all times there will at all times be a Paying Agent in a jurisdiction within continental Europe, other than the jurisdiction in
which the Issuer or the Company is incorporated. 
  

	SECTION 1008.	Limitations on Security Interests. 

  
 For so long as any Securities remain Outstanding under this Indenture, the Company will not, and will not permit its Restricted Subsidiaries to create,
suffer or permit to subsist any Security Interest (except for Permitted Security Interests) upon the whole or any part of their respective Property (whether owned as of the date of this Indenture or thereafter acquired) without making effective
provision whereby all the Securities shall be directly secured equally and ratably with the obligation secured by such Security Interest. 
  

	SECTION 1009.	Limitation on Sale and Leaseback. 

  
 For so long as any Securities remain Outstanding under this Indenture, the Company will not, and will not permit its Restricted Subsidiaries to, enter
into any arrangement with any bank, insurance company or other lender or investor (not including the Company or any of its Subsidiaries), or to which any such lender or investor is a party, providing for the leasing by the Company or such Subsidiary
for a period, including renewals, in excess of three years of any assets which has been owned by the Company or any Restricted Subsidiary for more than 270 days and which has been or is to be sold or transferred by the Company or any Restricted
Subsidiary to such lender or investor or, as a part of such arrangement, to any Person to whom funds have been or are to be advanced by such lender or investor on the security of such assets (herein referred to as a “sale and leaseback
transaction”) unless the Company or such Restricted Subsidiary, within one year after the sale or transfer will have been made by the Company or such Restricted Subsidiary, applies an amount equal to the net proceeds of the sale of the assets
sold and leased back pursuant to such arrangement (i) to the retirement of Indebtedness incurred, assumed or guaranteed by the Company or any of its Subsidiaries which by its terms matures at, or is extendible or renewable at the option of the
obligor to, a date more than 12 months after the date of incurring, assuming or guaranteeing such Indebtedness or (ii) to investment in any assets 

  

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of the Company or any of its Subsidiaries (herein referred to as a “Permitted Sale and Leaseback Transaction”). 
  
 Notwithstanding the foregoing, the Company or any of its Restricted
Subsidiaries may enter into sale and leaseback transactions with respect to their respective assets in addition to those permitted above; provided, however, that at the time of entering into such sale and leaseback transactions and after
giving effect thereto, the Company or the Restricted Subsidiary would be entitled pursuant to any Permitted Security Interests to create, suffer or permit to subsist a Security Interest on such assets without making effective provision whereby all
the Securities shall be directly secured equally and ratably with such indebtedness. 
  

	SECTION 1010.	Waiver of Certain Covenants. 

  
 Except as otherwise established as contemplated by Section 301 for the Securities of any series, the Issuer and the Company may, with respect to the
Securities of such series of the Issuer, omit in any particular instance to comply with any term, provision or condition set forth in any covenant adopted by indenture supplemental hereto under Section 901(2) for the benefit of the Holders of such
series, or in any of Sections 1005, 1006, 1008 or 1009, if before the time for such compliance the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive
such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver
shall become effective, the obligations of the Issuer and the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
  

	SECTION 1011.	Indemnification of Judgment Currency. 

  
 The Issuer and the Company shall indemnify the Trustee and any Holder of a Security against any loss incurred by the Trustee or such Holder, as the case
may be, as a result of any judgment or order being given or made for any amount due under this Indenture or such Security and being expressed and paid in a currency (the “Judgment Currency”) other than Dollars, and as a result of any
variation between (i) the rate of exchange at which the Dollar amount is converted into the Judgment Currency for the purpose of such judgment or order and (ii) the spot rate of exchange in The City of New York at which the Trustee or such Holder,
as the case may be, on the date of payment of such judgment or order is able to purchase Dollars with the amount of the Judgment Currency actually received by the Trustee or such Holder. Notwithstanding the preceding sentence of this Section 1010,
in the event that the amount of Dollars purchased by any Holder as a result of such indemnification exceeds the amount originally to be paid to such Holder, such Holder shall reimburse such excess to the Issuer or the Company, as the case may be.
The foregoing indemnity shall constitute a separate and independent obligation of the Issuer and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “spot rate of exchange” shall
include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, Dollars. 
  

	SECTION 1012.	Exchange Act Reports. 

  
 The Company shall file with the Trustee, within 15 days after it files the same with the Commission, copies of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may by rules and regulations prescribe) which the Issuer is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act, including its annual
reports on Form 20-F and its reports on Form 6-K or copies of the 

  

 67 

 
information included in such reports on Form 6-K. In addition, to the extent that such reports are not available on the Commission’s website or the
Company’s website, the Company shall make the same information, documents and other reports available, at its expense, to Holders who so request in writing. In the event that, in the future, the Company is not required to file such information,
documents or other reports pursuant to Section 13 or 15(d) of the Exchange Act, the Company shall furnish on a reasonably prompt basis to the Trustee and Holders who so request in writing, substantially the same financial and other information that
the Company would be required to include and file in an annual report on Form 20-F and reports on Form 6-K. If the Company is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act at any time when the Securities are
“restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, then it shall promptly furnish or cause to be furnished financial and other information described in Rule 144A(d)(4) under the Securities Act of 1933
(or any successor provision thereto) with respect to the Issuer or the Company to any Holder or to a prospective purchaser of a Security who is designated by such Holder and is a qualified institutional buyer (as defined in Rule 144A), upon the
request of such Holder or prospective purchaser, to the extent required to permit such Holder to comply with Rule 144A under the Securities Act in connection with any resale of Securities held by such Holder. 
  
 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 Issuer’s and/or the
Company’s compliance with any of its respective covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  
 ARTICLE ELEVEN 
  
 REDEMPTION OF SECURITIES 
  

	SECTION 1101.	Applicability of Article. 

  
 Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms established as contemplated
by Section 301 and (except as otherwise established as contemplated by Section 301 for the Securities of such series) in accordance with this Article. 
  

	SECTION 1102.	Election to Redeem; Notice to Trustee. 

  
 The election of the Issuer to redeem any Securities of any series of the Issuer shall be evidenced by a Board Resolution of the Issuer. In case of any
redemption at the election of the Issuer of less than all the Securities of any series of the Issuer (including any such redemption affecting only a single Security), the Issuer shall, at least 60 days prior to the Redemption Date fixed by the
Issuer (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the Redemption Price, of the principal amount of Securities of such series to be redeemed and, if applicable, of the tenor of the
Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities established as contemplated by Section 301, the Issuer shall furnish the
Trustee with an Officers’ Certificate evidencing compliance with such restriction. 
  

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	SECTION 1103.	Selection by Trustee of Securities to Be Redeemed. 

  
 If less than all the Securities of any series are to be redeemed (unless all the Securities of such series and of a specified tenor are to be redeemed or
unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously
called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series; provided that the unredeemed portion of
the principal of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. If less than all the Securities of such series and of a specified tenor are to be redeemed
(unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor
not previously called for redemption in accordance with the preceding sentence. 
  
 The Trustee shall promptly notify the Issuer in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof
to be redeemed. 
  
 The provisions of the two preceding paragraphs
shall not apply with respect to any redemption affecting only a single Security, whether such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security
shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. 
  
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the
case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 
  

	SECTION 1104.	Notice of Redemption. 

  
 Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to
each Holder of Securities to be redeemed, at his address appearing in the Security Register. 
  
 All notices of redemption shall state: 
  
 (1) the Redemption Date, 
  
 (2) the Redemption Price and accrued interest, if any, 
  
 (3) if less than all the Outstanding Securities of any series consisting of more than a single Security are to be redeemed, the
identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less than all the Outstanding Securities of any series consisting of a single Security are to
be redeemed, the principal amount of the particular Security to be redeemed, 
  
 (4) that on the Redemption Date, the Redemption Price (together with any accrued and unpaid interest payable on the Redemption Date) will become due and 

  

 69 

 
payable upon each such Security to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date, 
  
 (5) the place or places where such Securities are to be
surrendered for payment of the Redemption Price, and accrued interest, if any, 
  
 (6) that the redemption is for a sinking fund, if such is the case, and 
  
 (7) the CUSIP or ISIN numbers, if any. 
  
 Notice of redemption of Securities to be redeemed at the election of the Issuer shall be given by the Issuer or, at the
Issuer’s request given to the Trustee at least 15 days before the date such notice is to be given to the Holders (unless a shorter period is agreed to by the Trustee), by the Trustee in the name and at the expense of the Issuer, and shall be
irrevocable. 
  

	SECTION 1105.	Deposit of Redemption Price. 

  
 On or before any Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the Issuer is acting as its own Paying Agent,
it shall segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Securities which are
to be redeemed on that date. 
  

	SECTION 1106.	Securities Payable on Redemption Date. 

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

	SECTION 1107.	Securities Redeemed in Part. 

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

 70 

	SECTION 1108.	Optional Redemption Due to Changes in Tax Treatment. 

  
 If as the result of any change in or any amendment to the laws, regulations or published tax rulings of the applicable taxing jurisdiction affecting
taxation, or any change in the official administration, application or interpretation of such laws, regulations or published tax rulings either generally or in relation to any particular Securities or Guarantee thereof, which change or amendment
becomes effective on or after the original issue date of such Securities, it is determined by the Issuer or the Company that the Issuer or the Company (x) would be required to pay any Additional Amounts pursuant to Section 1007 of this Indenture or
the terms of any Security or Guarantee thereof (1) in respect of interest on the next succeeding Interest Payment Date (assuming, in the case of the Company, a payment in respect of such interest were required to be made by the Company under the
Guarantee thereof on such Interest Payment Date), or (2) in respect of the principal of any Original Issue Discount Securities on the date of such determination, assuming that a payment in respect of such principal were required to be made on such
date under the terms of the Securities (and assuming, in the case of the Company, a payment in respect of such principal was required to be made by it under the Guarantee thereof), and (y) such obligation cannot be avoided by the Issuer or the
Company taking reasonable measures available to it or them, the Issuer may, at its option, redeem all (but not less than all) the Securities of any series in respect of which such Additional Amounts would be so payable at any time, upon notice as
provided in Sections 1102 and 1104, at a Redemption Price equal to 100 percent of the principal amount thereof plus accrued interest to the date fixed for redemption and Additional Amounts, if any (except that any such Securities that are
Outstanding Original Issue Discount Securities may be redeemed at the Redemption Price specified in the terms thereof); provided, however, that (a) no such notice of redemption may be given earlier than 60 days prior to the earliest date on
which the Company would be obligated to pay such Additional Amounts were a payment in respect of the Securities or the Guarantee thereof, as the case may be, then due, and (b) at the time any such redemption notice is given, such obligation to pay
such Additional Amounts must remain in effect. 
  
 Prior to the
mailing of any notice of redemption pursuant to this Section, the Issuer shall deliver to the Trustee (i) an Opinion of Counsel of independent tax counsel of recognized standing in the relevant jurisdiction to the effect that the Company would be
required to pay Additional Amounts on the next payment in respect of such Securities, and (ii) an Officers’ Certificate to the effect that such obligation cannot be avoided by the Issuer or the Company, taking reasonable measures available to
it, and the Trustee shall be entitled to accept such opinion as sufficient evidence of the satisfaction of the condition precedent set out above in which event it should be conclusive and binding on the Holders of such Securities. 
  
 If (1) the Issuer or the Company shall have on any date (the “Succession
Date”) consolidated with or merged into, or conveyed or transferred or leased its properties and assets substantially as an entirety to, any Successor Person referred to in Section 801(3) which is organized under the laws of any jurisdiction
other than the jurisdiction in which the Issuer or the Company are organized, (2) as the result of any change in or any amendment to the laws, regulations or published tax rulings of such jurisdiction of organization, or of any political subdivision
or taxing authority thereof or therein, affecting taxation, or any change in the official administration, application or interpretation of such laws, regulations or published tax rulings either generally or in relation to any particular Securities
or the Guarantee thereof, which change or amendment becomes effective on or after the Succession Date, such Successor Person would be required to pay any Additional Amounts pursuant to Section 801(3) hereof or the terms of any Security or the
Guarantee thereof (i) in respect of interest on any Securities on the next succeeding Interest Payment Date (assuming, in the case of a Successor Company, that a payment 

  

 71 

 
in respect of such interest were required to be made by such Successor Company under the Guarantee on such Interest Payment Date), or (ii) in respect of the
principal of any Original Issue Discount Securities on the date of such determination (assuming such principal were required to be paid on such date under the terms of the Securities and, in the case of a Successor Company, that a payment in respect
of such principal were required to be made by such Successor Company on such date pursuant to the Guarantee), and (3) such obligation cannot be avoided by the Successor Person taking reasonable measures available to it, the Issuer or such Successor
Person may, at its option, redeem all (but nut less than all) of the Securities of any series in respect of which such Additional Amounts would be so payable at any time, upon not less than 30 nor more than 60 days’ written notice as provided
in Section 1102 and 1104, at a Redemption Price equal to 100% of the principal amount thereof plus accrued interest to the date fixed for redemption (except that any such Securities that are Outstanding Original Issue Discount Securities may be
redeemed at the Redemption Price specified in the terms thereof); provided, however, that (1) no such notice of redemption may be given earlier than 60 days prior to the earliest date on which a Successor Person would be obligated to pay such
Additional Amounts were a payment in respect of the Securities or Guarantee thereof, as the case may be, then due, and (2) at the time any such redemption notice is given, such obligation to pay such Additional Amounts must remain in effect.

  
 Prior to the mailing of any notice of redemption pursuant to
this Section, the Successor Person shall deliver to the Trustee (i) an Opinion of Counsel of independent tax counsel of recognized standing in the relevant jurisdiction to the effect that such Successor Person would be required to pay Additional
Amounts on the next payment in respect of such Securities. and (ii) an Officers’ Certificate to the effect that such obligation cannot be avoided by the Successor Person taking reasonable measurers available to it, and the Trustee shall be
entitled to accept such opinion as sufficient evidence of the satisfaction of the condition precedent set out above in which event it should be conclusive and binding on the Holders of such Securities. 
  
 ARTICLE TWELVE 
  
 SINKING FUNDS 
  

	SECTION 1201.	Applicability of Article. 

  
 If indicated pursuant to Section 301, the provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any
series except as otherwise established as contemplated by Section 301 for the Securities of such series. 
  
 The minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a ‘mandatory sinking fund
payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred to as an “optional sinking fund payment.” If provided for by the terms of any series of Securities, the cash
amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of such Securities. 
  

	SECTION 1202.	Satisfaction of Sinking Fund Payments with Securities. 

  
 The Issuer (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities
of a series which have been redeemed either at the election of the Issuer pursuant to the terms of such Securities or through 

  

 72 

 
the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any
sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited
have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed, for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
  

	SECTION 1203.	Redemption of Securities for Sinking Fund. 

  
 Not less than 60 days prior to each sinking fund payment date for any Securities, the Issuer will deliver to the Trustee an Officers’ Certificate
specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days prior to each such sinking fund payment date, the Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Issuer in the manner provided in Section 1104. Such
notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 
  
 ARTICLE THIRTEEN 
  
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
  

	SECTION 1301.	Option to Effect Defeasance or Covenant Defeasance. 

  
 Section 1302 and Section 1303 shall apply to the Outstanding Securities of any series (a “Defeasible Series”) to the extent that the terms of
such Securities established as contemplated by Section 301 provide for such applicability. 
  

	SECTION 1302.	Defeasance and Discharge. 

  
 The Issuer and the Company shall be deemed to have been discharged from their respective obligations with respect to the Outstanding Securities of any
Defeasible Series of the Issuer, as provided in this Section 1302 on and after the date the applicable conditions set forth in Section 1304 are satisfied (hereinafter called “Defeasance”) with respect to such Securities. For this purpose,
such Defeasance means that the Issuer and the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and to have satisfied all their other respective obligations under the
Securities of such series and this Indenture insofar as the Securities of such series are concerned (and the Trustee, at the written request and expense of the Issuer, shall execute proper instruments acknowledging the same), subject to the
following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Securities of such series to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section,
payments in respect of the principal of, any premium and interest on, such Securities of such series when payments are due, (2) the Issuer’s and the Company’s obligations with respect to the Securities of such series under Sections 304,
305, 306, 1002, 1003 and 1007 (to the extent then unknown), (3) the rights (including without limitation, the rights set forth in Section 607), powers, trusts, duties and 

  

 73 

 
immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Issuer or the Company may defease any Securities
pursuant to this Section notwithstanding the prior Covenant Defeasance of such Securities pursuant to Section 1303. 
  

	SECTION 1303.	Covenant Defeasance. 

  
 On and after the date the applicable conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”) with respect
to the Outstanding Securities of any Defeasible Series of the Issuer, pursuant to this Section 1303, (1) the Issuer and the Company shall be released from their respective obligations under Section 801, 1005, 1006, 1008, 1009 and 1010, and any
covenants established as contemplated by Section 301 or adopted by indenture supplemental hereto under Section 901(2) for the benefit of the Holders of such Securities and (2) the occurrence of any event specified in Sections 501(3) and 501(4) or
pursuant to Section 501(7) with respect to any obligations referred to in Clause (1) of this Section 1303 shall be deemed not to be or result in an Event of Default, in each case with respect to the Outstanding Securities of such series as provided
in this Section. For this purpose, such Covenant Defeasance means that the Issuer and the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the
extent so specified in the case of Section 501(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein
or in any other document, but the remainder of this Indenture and the Securities of such series shall be unaffected thereby. 
  

	SECTION 1304.	Conditions to Defeasance or Covenant Defeasance. 

  
 The following shall be the conditions to the Defeasance pursuant to Section 1302 or the Covenant Defeasance pursuant to Section 1303 of the Outstanding
Securities of any Defeasible Series of the Issuer: 
  
 (a) The Issuer or the Company, as the case may be, shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the requirements contemplated by Section 609 and agrees to comply with the
provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of the Outstanding Securities of such
series, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any
payment, money in an amount, or (C) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and
discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on the Securities of such series on the respective Stated Maturities, in accordance with
the terms of this Indenture and the Securities of such series. 
  
 As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment of which the full faith and credit of the United States of America is pledged or
(ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of
America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any
U.S. Government Obligation which is 

  

 74 

 
specified in Clause (x) above and held by such bank for the account of the holder of such depositary receipt, or with respect to any specific payment of
principal of or interest on any U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary
receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 
  
 (b) The Issuer or the Company, as the case may be, shall have delivered to the Trustee Opinions of Counsel
to the effect that (a) the beneficial owners of the Outstanding Securities of such series will not recognize gain or loss for US. federal income tax purposes or be subject to any taxes or recognize gain or loss for income tax purposes in the
jurisdiction in which the Issuer is organized, resident or carries on business as a result of the deposit and Defeasance or Covenant Defeasance to be effected with respect to the Outstanding Securities of such series and will be subject to U.S.
federal income tax and income taxes, capital gains and other taxes, including withholding taxes in such jurisdictions on the same amount, in the same manner and at the same times as would be the case if such deposit and Defeasance or Covenant
Defeasance were not to occur, which in the case of clause (1) above must be based on a change in law or published ruling by the U.S. Internal Revenue Service and (b) the deposit shall not result in the Issuer being deemed an “investment
company” required to register under the Investment Company Act. 
  
 (c) The Issuer or the Company shall have delivered to the Trustee an Officers’ Certificate to the effect that the Securities of such series, if then listed on any securities exchange, will not be delisted as a
result of such deposit. 
  
 (d) No event which
is, or after notice or lapse of time or both would become, an Event of Default with respect to the Outstanding Securities of such series shall have occurred and be continuing at the time of such deposit or, with regard to any such event specified in
Sections 501(5) and (6), at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until after such 90th day). 
  
 (e) Such Defeasance or Covenant Defeasance shall not cause
the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such Act). 
  
 (f) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a
default under, any other agreement or instrument to which the Issuer or the Company is a party or by which it or they are bound. 
  
 (g) The Issuer or the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 
  

	SECTION 1305.	Deposited Money and US. Government Obligations to Be Held in Trust; Miscellaneous Provisions. 

  
 Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the
proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 1304
in respect of any Securities of the Issuer shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any 

  

 75 

 
such Paying Agent (including the Issuer or the Company acting as its own or their own Paying Agent) as the Trustee may determine, to the Holders of such
Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 
  
 The Issuer or the Company, as the case may be, shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of Outstanding Securities. 
  
 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Issuer or the Company, as the case may be, from time to time upon an Issuer Request any money or U.S. Government
Obligations held by it as provided in Section 1304 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in
excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
  

	SECTION 1306.	Reinstatement. 

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

	SECTION 1401.	Guarantee. 

  
 This Section 1401 and Section 1402 apply to the Securities of any series to the extent that the form of the Guarantee to be endorsed on such Securities is
not otherwise established as contemplated by Section 301. 
  
 The
Company hereby fully and unconditionally guarantees to each Holder of a Security of each series issued by the Issuer that has been authenticated and delivered by the Trustee, the due and punctual payment of the principal (including any amount due in
respect of original issue discount) of and any premium and interest on such Security (and any Additional Amounts payable in respect thereof), and the due and punctual payment of any sinking fund payments 

  

 76 

 
provided for pursuant to the terms of such Security, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration of
acceleration, call for redemption or otherwise, in accordance with the terms of such Security and of this Indenture. This Guarantee is a direct, unsubordinated and unsecured obligation of the Company and ranks pari passu with all other
unsubordinated and unsecured obligations of the Company. The Company hereby agrees that its obligations hereunder shall be as if it were a principal debtor and not merely a surety, and shall be absolute and unconditional, irrespective of, and shall
be unaffected by, any invalidity, irregularity or unenforceability of any Security of any series or this Indenture, any failure to enforce the provisions of any Security of any series or this Indenture, any waiver, modification or indulgence granted
to the Issuer with respect thereto, by the Holder of any Security of any series or the Trustee, or any other circumstances which may otherwise constitute a legal or equitable discharge of a surety or Company; provided, however, that,
notwithstanding the foregoing, no such waiver, modification or indulgence shall, without the consent of the Company increase the principal amount of a Security or the interest rate thereon or increase any premium payable upon redemption thereof. The
Company hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Issuer, any right to require a proceeding first against the Issuer, the benefit of discussion, protest or
notice with respect to any Security or the indebtedness evidenced thereby or with respect of any sinking fund payment required pursuant to the terms of a Security issued under this Indenture and all demands whatsoever, and covenants that this
Guarantee will not be discharged with respect to any Security except by payment in full of the principal thereof and any premium and interest thereon or as provided in Article Four, Section 802 or Article Thirteen. The Company further agrees that,
as between the Company, on the one hand, and the Holders and the Trustee, on the other hand, the Maturity of the obligations guaranteed hereby may be accelerated as provided in Article Five hereof for the purposes of this Guarantee, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby. 
  
 The Company shall be subrogated to all rights of each Holder of Securities against the Issuer in respect of any amounts paid to such Holder by the Company
pursuant to the provisions of this Guarantee; provided, however, that the Company shall not be entitled to enforce, or to receive any payments arising out of, or based upon, such right of subrogation until the principal of and any premium and
interest on all the Securities of the same series and of like tenor shall have been paid in full. 
  
 No past, present or future stockholder, officer, director, employee or incorporator of the Company shall have any personal liability under the Guarantee
set forth in this Section 1401 by reason of his or its status as such stockholder, officer, director, employee or incorporator. 
  
 The Guarantee set forth in this Section 1401 shall not be valid or become obligatory for any purpose with respect to a Security until the certificate of
authentication on such Security shall have been signed by or on behalf of the Trustee. 
  

	SECTION 1402.	Execution of Guarantee. 

  
 To evidence its guarantee to the Holders specified in Section 1401, the Company hereby agrees to execute the notation of the Guarantee in substantially
the form set forth in Section 204 to be endorsed on each Security authenticated and delivered by the Trustee. The Company hereby agrees that its Guarantee set forth in Section 1401 shall remain in full force and effect notwithstanding any failure to
endorse on each Security a notation of the Guarantee. Each such notation of the Guarantee shall be signed on behalf of the Company, by a Director or any Authorized Officer, prior to the authentication of the Security on which it is endorsed, and the
delivery of such Security by the Trustee, after the due authentication thereof by the Trustee 

  

 77 

 
hereunder, shall constitute due delivery of the Guarantee on behalf of the Company. Such signatures upon the notation of the Guarantee may be manual or
facsimile signatures of any present, past or future such Director or Authorized Officers and may be imprinted or otherwise reproduced below the notation of the Guarantee, and in case any such Director or Authorized Officer who shall have signed the
notation of the Guarantee shall cease to be such Director or Authorized Officer before the Security on which such notation is endorsed shall have been authenticated and delivered by the Trustee or disposed of by the Issuer, such Security
nevertheless may be authenticated and delivered or disposed of as though the person who signed the notation of the Guarantee had not ceased to be such Director or Authorized Officer of the Company. 
  
 This Indenture may be simultaneously executed and delivered in any number of
counterparts, each of which so executed and delivered shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  

 78 

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

			
	 WPP FINANCE (UK),
as Issuer

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	 WPP GROUP PLC,
as Company

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

	
	 CITIBANK, N.A.,
as Trustee

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

 79First Supplemental Indenture, dated as of June 23, 2004

 Exhibit 4.15 
  
 EXECUTION COPY 

  
 WPP FINANCE (UK), 
  
 as Issuer 
  
 and 
  
 WPP
GROUP PLC, 
  
 as Guarantor 
  
 to 
  
 CITIBANK, N.A., 
  
 as Trustee 
  

  
 FIRST SUPPLEMENTAL
INDENTURE 
  
 Dated as of June 23, 2004

  

  
 U.S.$650,000,000 
  
 5.875% Notes due 2014 
  

  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page

	 ARTICLE ONE DEFINITIONS
	  	1
			
	 Section 101.
	  	 Provisions of the Base Indenture
	  	1
	 Section 102.
	  	 Definitions
	  	2
		
	 ARTICLE TWO GENERAL TERMS AND
CONDITIONS OF THE NOTES
	  	4
			
	 Section 201.
	  	 Designation and Principal Amount
	  	4
	 Section 202.
	  	 Forms Generally
	  	5
	 Section 203.
	  	 Transfers and Exchanges
	  	19
	 Section 204.
	  	 Form of Trustee’s Certificate of Authentification
	  	22
	 Section 205.
	  	 Maintenance of Office or Agency
	  	22
	 Section 206.
	  	 Luxembourg Stock Exchange Listing
	  	22
		
	 ARTICLE THREE MISCELLANEOUS PROVISIONS
	  	23
			
	 Section 301.
	  	 Separability of Invalid Provisions
	  	23
	 Section 302.
	  	 Execution in Counterparts
	  	23
	 Section 303.
	  	 Certain Matters
	  	23
	 Section 304.
	  	 Conflict with Trust Indenture Act
	  	23
	 Section 305.
	  	 Effect of Headings and Table of Contents
	  	23
	 Section 306.
	  	 Successors and Assigns
	  	23
	 Section 307.
	  	 Benefits of Indenture
	  	23
	 Section 308.
	  	 Governing Law
	  	24
	 Section 309.
	  	 Submission to Jurisdiction; Appointment of Agent for Service of Process
	  	24
	 Section 310.
	  	 Priority of First Supplemental Indenture
	  	24
	 Section 311.
	  	 Liquidated Damages Notice
	  	25
	 Section 312.
	  	 Not Responsible for Recitals or Issuance of Securities
	  	25

  

 FIRST SUPPLEMENTAL INDENTURE, dated as of June 23, 2004, among WPP Finance (UK), a private unlimited
liability company organized and existing under the laws of the England and Wales (herein called the “Issuer”), having its principal office at 27 Farm Street, London W1J 5RJ, England, WPP Group PLC, a public limited company organized and
existing under the laws of England and Wales (herein called the “Company”), having its principal office at 27 Farm Street, London W1J 5RJ, England, and Citibank, N.A., a national banking association duly incorporated and existing under the
laws of the United States, as Trustee (herein called the “Trustee”), to the Indenture, dated as of June 23, 2004, among the Issuer, the Company and the Trustee (as amended and supplemented from time to time, exclusive of any supplemental
indentures creating a new series of Securities, herein called the “Base Indenture”). 
  
 W I T N E S S E T H: 
  
 WHEREAS,
the Base Indenture provides for the issuance from time to time thereunder, in series, of debt Securities of the Issuer, and Section 901 of the Base Indenture provides for the establishment of the form or terms of Securities issued thereunder through
one or more supplemental indentures; 
  
 WHEREAS, the Issuer
desires by this First Supplemental Indenture to create a series of Securities to be issuable under the Base Indenture, as supplemented by this First Supplemental Indenture, and to be known as the Issuer’s “5.875% Notes due 2014” (the
“Notes”), which are to be initially limited in aggregate principal amount as specified in this First Supplemental Indenture and the terms and provisions of which are to be as specified in this First Supplemental Indenture; 
  
 WHEREAS, the Issuer has duly authorized the execution and delivery of this
First Supplemental Indenture to establish the Notes as a series of Securities under the Base Indenture and to provide for, among other things, the issuance of and the form and terms of the Notes and additional covenants for purposes of the Notes and
the Holders thereof; 
  
 WHEREAS, the Company has duly authorized
the execution and delivery of this First Supplemental Indenture to provide for the Guarantees of the Notes; and 
  
 WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of the Issuer and the Company, in accordance with its terms,
have been done. 
  
 NOW, THEREFORE, for and in consideration of
the premises and the purchase and acceptance of the Notes by the Holders thereof and for the purpose of setting forth, as provided in the Base Indenture, the form of the Notes and the terms, provisions and conditions thereof, the Issuer and the
Company covenant and agree with the Trustee as follows: 
  
 ARTICLE
ONE 
  
 Definitions 
  

	Section 101.	Provisions of the Base Indenture. 

  
 Except insofar as herein otherwise expressly provided, all the definitions, provisions, terms and conditions of the Base Indenture shall remain in full
force and effect with respect to the 

  

 1 

 
Notes. The Base Indenture, as amended and supplemented by this First Supplemental Indenture, is in all respects ratified and confirmed, and the Base
Indenture and this First Supplemental Indenture shall be read, taken and considered as one and the same instrument for all purposes and every Holder of Notes of any series authenticated and delivered under the Base Indenture shall be bound hereby.

  

	Section 102.	Definitions. 

  
 For all purposes of this First Supplemental Indenture and the Notes, except as otherwise expressly provided or unless the subject matter or context
otherwise requires: 
  
 (a) unless the context
otherwise requires, any reference to an “Article” or a “Section” refers to an Article or Section, as the case may be, of this First Supplemental Indenture; 
  
 (b) the words “herein”, “hereof” and “hereunder” and other words of similar
import refer to this First Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 
  
 (c) all terms used in this First Supplemental Indenture that are defined in the Base Indenture have the meanings assigned to them in the
Base Indenture, except as otherwise provided in this First Supplemental Indenture; 
  
 (d) The term “Securities” as defined in the Base Indenture and as used in any definition therein, shall be deemed to include or
refer to, as applicable, the Notes; and 
  
 (e)
the following terms have the meanings given to them in this Section 102(e): 
  
 “Agent Member Transferee” has the meaning specified in Section 203(b)(i). 
  
 “Agent Member Transferor” has the meaning specified in Section 203(b)(i). 
  
 “Applicable Procedures” means, with respect to any transfer or transaction involving a Global Note or beneficial
interest therein, the rules and procedures of the Depositary, Euroclear and Clearstream for such Global Note, in each case to the extent applicable to such transaction and as in effect from time to time. 
  
 “Exchange Notes” means the securities with terms substantially
identical to the Original Notes (except for the differences provided for herein) issued pursuant to the Exchange Offer. 
  
 “Exchange Offer” means an offer made pursuant to an effective registration statement under the Securities Act by the Issuer and the Company to
exchange the Registrable Securities for the Exchange Notes as required by the Registration Rights Agreement. 
  
 “Exchange Offer Registration Statement” means a registration statement of the Issuer and the Company under the Securities Act, meeting the
requirements of the Registration Rights Agreement and registering the Exchange Notes pursuant to the Exchange Offer. 
  

 2 

 “Global Note” means a Note that evidences all or part of the Notes and is authenticated and
delivered to, and registered in the name of, the Depositary for such Notes or a nominee thereof. Global Notes shall include Restricted Global Notes, Regulation S Global Notes and Unrestricted Global Notes. 
  
 “Initial Purchasers” means the initial purchasers of the Notes
listed in Schedule 1 to the Purchase Agreement. 
  
 “Original
Notes” means all Notes other than Exchange Notes. 
  
 “Owner Transferee” has the meaning specified in Section 203(b)(i). 
  
 “Owner Transferor” has the meaning specified in Section 203(b)(i). 
  
 “Permitted Holder” means, at any time, any Person who, at such time, is the Holder of at least U.S.$5,000,000 in aggregate principal amount of
Notes. 
  
 “Predecessor Note” means, with respect to any
particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purposes of this definition, any Note authenticated and delivered under Section 305 of the Base Indenture in
exchange for or in lieu of a mutilated, destroyed, lost or stolen Note shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Note. 
  
 “Purchase Agreement” means the Purchase Agreement, dated June 16, 2004, by and among the Issuer, the Company and
the Initial Purchasers. 
  
 “Qualified Institutional
Buyer” means a “qualified institutional buyer” as defined in Rule 144A. 
  
 “Registered Notes” means the Exchange Notes and all other Notes sold or otherwise disposed of pursuant to an effective registration statement under the Securities Act. 
  
 “Registrable Securities” shall have the meaning assigned to it in
the Registration Rights Agreement. 
  
 “Registration
Default” means occurrence of any of the events set forth in Section 8 of the Registration Rights Agreement that gives rise to an obligation on the part of the Issuer to pay additional interest on the Notes in accordance therewith. 

 
 “Registration Rights Agreement” means the Registration Rights
Agreement, dated as of June 23, 2004, among the Issuer, the Company and the Initial Purchasers, as such agreement may be amended from time to time. 
  
 “Regulation S” means Regulation S under the Securities Act. 
  
 “Regulation S Global Note” has the meaning specified in Section 202. 
  
 “Resale Registration Statement” means a shelf registration
statement under the Securities Act filed by the Issuer, if required by, and meeting the requirements of, the Registration Rights Agreement, registering the Registrable Securities for resale. 
  

 3 

 “Restricted Global Note” has the meaning specified in Section 202. 
  
 “Restricted Global Transferred Amount” has the meaning specified in
Section 203(b)(i). 
  
 “Restricted Notes” means Notes
offered and sold in their initial distribution in transactions exempt from the registration requirements of the Securities Act other than pursuant to Regulation S. 
  
 “Restricted Period” means the period of 40 consecutive days beginning on and including the later of (i) the day on
which the Original Notes are first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S and (ii) the day on which the closing of the offering of the Original Notes pursuant to the Purchase Agreement
occurs. 
  
 “Restrictive Legends” has the meaning
specified in Section 203(a). 
  
 “Rule 144A” means Rule
144A under the Securities Act. 
  
 “Rule 144” means Rule
144 under the Securities Act. 
  
 “Transfer
Restrictions” has the meaning specified in Section 203(a). 
  
 “Unrestricted Global Note” has the meaning specified in Section 202. 
  
 ARTICLE TWO 
  
 GENERAL TERMS AND CONDITIONS OF THE NOTES 
  

	Section 201.	Designation and Principal Amount. 

  
 There is hereby authorized and established a series of securities designated the “5.875% Notes due 2014” (the “Notes”), in an aggregate principal
amount of U.S.$650,000,000 (which amount does not include Notes authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other securities of such series pursuant to Sections 304, 305, 306, 906 or 1107 of the Base
Indenture), which amount shall be specified in the Issuer Order for the authentication and delivery of Notes pursuant to Section 303 of the Base Indenture. The principal of the Notes shall be due and payable at their Stated Maturity. The Notes will
be issued in denominations of U.S.$2,000 and integral multiples of U.S.$1,000 in excess thereof. 
  
 The Issuer may, from time to time and without the consent of the Holders, issue additional Securities, with Guarantees of the Company duly annexed thereto
or endorsed thereon, on terms and conditions identical to those of the Notes, which additional Securities, together with Guarantees of the Company duly annexed thereto or endorsed thereon, shall increase the aggregate principal amount of, and shall
be consolidated and form a single series with, the Notes. 
  
 The
Issuer may issue Exchange Notes with Guarantees of the Company duly annexed thereto or endorsed thereon from time to time pursuant to an Exchange Offer, in each case pursuant to a Board Resolution and subject to Section 303 of the Base Indenture, in
authorized denominations in exchange for a like principal amount of the Original Notes. Upon any such exchange of Original Notes, the Original Notes so exchanged shall be canceled in accordance 

  

 4 

 
with Section 309 of the Base Indenture and shall no longer be deemed Outstanding for any purpose. 
  
 The Original Notes and any Exchange Notes shall vote and consent together on
all matters as one class and none of the Original Notes nor the Exchange Notes shall have the right to vote or consent as a class separate from one another on any matter. 
  
 The Stated Maturity of the Notes shall be June 15, 2014. The Notes shall bear interest at the rate of 5.875% per annum, from
June 23, 2004 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, payable semi-annually on June 15 and December 15, commencing December 15, 2004, until the principal thereof is paid
or made available for payment; provided, however, that, with respect to any Registrable Securities, if a Registration Default occurs on any day, such Registrable Securities shall bear additional interest as a result thereof (at an
incremental rate per annum of 0.25%), as liquidated damages and not as a penalty, from such day to but not including the first day thereafter until no Registration Default is continuing, all in accordance with the provisions of the Registration
Rights Agreement; and provided, further, that any amount of interest on any Note which is overdue shall bear interest (to the extent that payment thereof shall be legally enforceable) at the rate per annum then borne by such Note from
the date such amount is due to the day it is paid or made available for payment, and such overdue interest shall be paid as provided in Section 307 of the Base Indenture. Accrued additional interest, if any, shall be paid in cash in arrears
semi-annually on the Interest Payment Dates in each year, commencing on the first Interest Payment Date after the day on which the relevant Registration Default occurs. 
  

	Section 202.	Forms Generally. 

  
 The Notes and the Guarantees annexed thereto or endorsed thereon shall be in substantially the forms set forth in this Section 202, with such appropriate
insertions, omissions, substitutions and other variations as are required or permitted by this First Supplemental Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may
be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution thereof, with Guarantees duly annexed thereto or endorsed thereon.

  
 Upon their original issuance, Notes offered and sold to
Qualified Institutional Buyers in accordance with Rule 144A shall be issued in the form of one or more Global Notes in definitive, fully registered form, with Guarantees annexed thereto or endorsed thereon, without coupons, substantially in the form
set forth in this Section 202, with such applicable legends as provided herein (each, a “Restricted Global Note”). Such Restricted Global Notes shall be registered in the name of the Depositary, or its nominee, and deposited with the
Trustee, at its Corporate Trust Office, as custodian for the Depositary, duly executed by the Issuer, with Guarantees duly annexed thereto or endorsed thereon and authenticated by the Trustee as hereinafter provided. The aggregate amount of any
Restricted Global Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, as provided in Section 203 hereof. 
  
 Upon their original issuance, Notes offered and sold in reliance on
Regulation S shall initially be issued in the form of one or more Global Notes in definitive, fully registered form, 

  

 5 

 
with Guarantees annexed thereto or endorsed thereon, without coupons, substantially in the form set forth in this Section 202, with such applicable legends
as provided herein (each, a “Regulation S Global Note”). Such Regulation S Global Notes shall be registered in the name of the Depositary, or its nominee, and deposited with the Trustee, at its Corporate Trustee Office, as custodian for
the Depositary, duly executed by the Issuer, with Guarantees duly annexed thereto or endorsed thereon, and authenticated by the Trustee as herein provided, for credit by the Depositary to the respective accounts of beneficial owners of such Notes
(or to such other accounts as they may direct) at Euroclear or Clearstream. After such time as the applicable Restricted Period shall have terminated, each such Regulation S Global Note shall be referred to herein as an “Unrestricted Global
Note.” The aggregate principal amount of any Regulation S Global Note or any Unrestricted Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, as
provided in Section 203 hereof. 
  
 For all purposes of this First
Supplemental Indenture, the term “Restricted Notes” shall include all Notes, together with Guarantees of the Company annexed thereto or endorsed thereon, issued upon registration or transfer of, in exchange for or in lieu of, Restricted
Notes except as otherwise provided in Section 203 hereof. 
  
 (a)
Form of Face of Note. 
  
 [INCLUDE IF NOTE IS A GLOBAL
NOTE — THIS IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO, AS SUPPLEMENTED BY THE FIRST SUPPLEMENTAL INDENTURE, AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE
TREATED BY THE ISSUER, THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES.] 
  
 [INCLUDE IF NOTE IS A GLOBAL NOTE AND THE DEPOSITARY IS THE DEPOSITORY TRUST COMPANY— UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON OTHER THAN THE DEPOSITORY TRUST COMPANY OR A NOMINEE THEREOF IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

  
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
REGISTERED NOTES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED TO IN THE INDENTURE, AS SUPPLEMENTED BY THE FIRST SUPPLEMENTAL INDENTURE, THIS GLOBAL NOTE 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 

  

 6 

 
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.] 

 
 [INCLUDE IF NOTE IS A RESTRICTED GLOBAL NOTE (UNLESS, PURSUANT TO
SECTION 203 OF THE FIRST SUPPLEMENTAL INDENTURE, THE COMPANY DETERMINES AND CERTIFIES TO THE TRUSTEE THAT THE LEGEND MAY BE REMOVED) — NEITHER THIS GLOBAL NOTE, ANY BENEFICIAL INTEREST HEREIN NOR THE GUARANTEE HEREOF HAS BEEN REGISTERED
UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS GLOBAL NOTE, ANY BENEFICIAL INTEREST HEREIN NOR THE GUARANTEE HEREOF MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) TO THE COMPANY OR
A SUBSIDIARY THEREOF, (2) TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER OR BUYERS IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (3) IN AN OFFSHORE TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (4) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT (PROVIDED THAT AS A CONDITION TO REGISTRATION OF TRANSFER OF THIS GLOBAL NOTE OTHERWISE THAN AS SET FORTH
ABOVE, THE ISSUER, THE COMPANY OR THE TRUSTEE MAY REQUIRE DELIVERY OF ANY DOCUMENTS OR OTHER EVIDENCE THAT IT, IN ITS DISCRETION, DEEMS NECESSARY OR APPROPRIATE TO EVIDENCE COMPLIANCE WITH THE EXEMPTION REFERRED TO IN CLAUSE (4) ABOVE), AND, IN EACH
CASE, IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS.] 
  
 [INCLUDE IF NOTE IS A REGULATION S GLOBAL NOTE (UNLESS, PURSUANT TO SECTION 203 OF THE FIRST SUPPLEMENTAL INDENTURE, THE COMPANY DETERMINES AND
CERTIFIES TO THE TRUSTEE THAT THE LEGEND MAY BE REMOVED) — THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD OR DELIVERED IN THE UNITED STATES
OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON, UNLESS SUCH NOTES ARE REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF IS AVAILABLE. THE FOREGOING SHALL NOT APPLY FOLLOWING THE EXPIRATION OF 40
DAYS FROM THE LATER OF (i) THE DATE ON WHICH THESE NOTES WERE FIRST OFFERED AND (ii) THE DATE OF ISSUANCE OF THESE NOTES.] 
  

 7 

 WPP FINANCE (UK) 
  

5.875% NOTES DUE 2014 
  
 [If Restricted Global Note—CUSIP Number: 92931N AA 8 / ISIN Number: US92931NAA81] 
 [If Regulation S Global Note—CUSIP Number: G70856 AA 0 / ISIN Number: USG70856AA08] 
  

					
	 No.
	  	 	  	U.S.$

  
 WPP Finance (UK)
(herein called the “Issuer”, which term includes any Successor Person under the Base Indenture, as supplemented by the First Supplemental Indenture hereinafter referred to), a private unlimited liability company organized and existing
under the laws of England and Wales, for value received, hereby promises to pay to                     , or registered assigns, the principal sum of
                     Dollars [if the Note is a Global Note, then insert —, as such amount may be increased or decreased from time to time
in accordance with the notations on Schedule A hereto,] on June 15, 2014 and to pay interest thereon from June 23, 2004 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be,
semi-annually on June 15 and December 15 in each year, commencing December 15, 2004 at the rate of 5.875% per annum, until the principal hereof is paid or made available for payment, provided [if the Note is a Registrable Security, then
insert — that, upon the occurrence of a Registration Default in accordance with the Registration Rights Agreement, the per annum interest rate borne by this Note shall increase by adding 0.25% thereto as liquidated damages and not as a
penalty, for the period from the first day on which such Registration Default occurs to but not including the first day thereafter until no Registration Default is continuing or such Registrable Securities become freely transferable under the
Securities Act, all in accordance with the provisions of the Registration Rights Agreement, and in which case the Issuer shall provide notice to the Trustee of such increase in interest rate, and shall cause the Trustee to provide appropriate notice
thereof to the Holder of this Note; and provided, further,] that any amount of interest on this Note which is overdue shall bear interest (to the extent that payment thereof shall be legally enforceable) at the rate per annum then borne by
this Note from the date such amount is due to but not including the day it is paid or made available for payment, and such overdue interest shall be paid as provided in Section 307 of the Base Indenture. 
  
 The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the June
1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date [if the Note is a Registrable Security, then insert —, provided that any accrued and unpaid interest (including
additional interest as a result of any Registration Default, if applicable) on this Note upon the issuance of an Exchange Note in exchange for this Note shall cease to be payable to the Holder hereof and shall be payable instead on the next Interest
Payment Date for such Exchange Note to the Holder thereof on the related Regular Record Date]. Any such interest not so punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Holder on the
relevant Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of the Notes not less than 10 days prior to such Special Record Date, or be paid 

  

 8 

 
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Note may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in the Indenture. Interest on this Note shall be computed on the basis set forth in the Indenture. 
  
 Payment of the principal of and interest on this Note shall be made at the office of the Trustee or agency of the Issuer in
the Borough of Manhattan, New York City, New York, maintained for such purpose and at any other office or agency maintained by the Issuer for such purpose, in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts against surrender of this Note in the case of any payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest
Payment Date); provided, however, that at the option of the Issuer payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Securities Register; and
provided, further, that all payments of the principal of and interest on this Note, the Permitted Holders of which have given wire transfer instructions to the Trustee, the Issuer, or its agent at least 10 Business Days prior to the
applicable payment date, shall be required to be made by wire transfer of immediately available funds to the accounts specified by such Permitted Holders in such instructions. [if the Note is a Global Note, then insert — Notwithstanding
the foregoing, payment of any amount payable in respect of a Global Note shall be made in accordance with the Applicable Procedures of the Depositary.] 
  
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
  
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 9 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed by a Director or Authorized
Officer. 
  
 Dated: 
  

			
	 WPP FINANCE (UK)

		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  
 (b) Form of
Reverse of Note. 
  
 This Note is one of a duly authorized
issue of securities of the Issuer (herein called the “Notes”), issued under an Indenture, dated as of June 23, 2004 (herein called the “Base Indenture”), as supplemented by a First Supplemental Indenture dated as of June 23, 2004
(herein called the “First Supplemental Indenture”; the Base Indenture, as supplemented by the First Supplemental Indenture, the “Indenture”), each among the Issuer, WPP Group plc, a public limited company organized and existing
under the laws of England and Wales (herein called the “Company,” which term includes any Successor Person under the Indenture) and Citibank, N.A., as Trustee (herein called the “Trustee”, which term includes any successor
trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Issuer, the Company, the Trustee and the Holders of the Notes and of
the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof. 
  
 Additional notes on terms and conditions identical to those of this Note may be issued by the Issuer without the consent of the Holders of the Notes. The
amount evidenced by such additional Notes shall increase the aggregate principal amount of, and shall be consolidated and form a single series with, the Notes. 
  

In the event of redemption of this Note in part only, a new Note of this series and of like tenor for the unredeemed portion hereof shall be issued in
the name of the Holder hereof upon the cancellation hereof. 
  
 The Indenture contains provisions for defeasance at any time of the entire indebtedness represented by this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain
conditions set forth in the Indenture. 
  
 If an Event of Default
with respect to Notes shall occur and be continuing, the principal of all of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 All payments pursuant to the Notes and the Guarantee shall be made without withholding or deduction for, or on account of,
any present or future taxes, duties, levies, assessments or 

  

 10 

 
governmental charges of whatever nature (“taxes”) imposed or levied by or on behalf of the jurisdiction (or any political subdivision or taxing
authority thereof or therein) (i) in which the Issuer or the Company is incorporated or resident (or deemed for tax purposes to be resident), (ii) in which the Issuer or the Company makes payment on the Notes or the Guarantees or (iii) in the United
States (the “applicable taxing jurisdiction”), unless such taxes are required by the applicable taxing jurisdiction or any such subdivision or authority to be withheld or deducted. In that event, the Issuer or the Company will pay by way
of additional interest such additional amounts of, or in respect of, principal and any premium and interest (including additional interest that may be payable pursuant to the registration rights agreement)(“Additional Amounts”) as will
result (after deduction of such taxes and any additional taxes payable in respect of such Additional Amounts) in the payment to each Holder of such Notes of the amounts which would have been payable in respect of such Note or Guarantee had no such
withholding or deduction been required, except that no Additional Amounts shall be so payable for or on account of: 
  
 (i) any taxes that would not have been imposed but for the fact that such Holder: 
  
 (a) was a resident, domiciliary or national of, or engaged
in business or maintained a permanent establishment or was physically present in, the applicable taxing jurisdiction or otherwise had some connection with the applicable taxing jurisdiction other than the mere ownership of, or receipt of payment
under, such Note or Guarantee; 
  
 (b) presented
(if presentation is required) such Note or Guarantee for payment in the applicable taxing jurisdiction, unless such Note or Guarantee could not have been presented for payment in another member state of the European Union; or 
  
 (c) presented (if presentation is required) such Note or
Guarantee, as the case may be, more than thirty (30) days after the date on which the payment in respect of such Note first became due and payable or provided for, whichever is later, except to the extent that the Holder would have been entitled to
such Additional Amounts if it had presented such Note or Guarantee for payment on any day within such period of thirty (30) days; 
  
 (ii) any estate, inheritance, gift, sale, transfer, personal property or similar taxes; 
  
 (iii) any taxes that are payable otherwise than by
withholding or deduction from payments of, or in respect of, principal of or any premium or interest on the Notes or Guarantee, as the case may be; 
  
 (iv) any taxes that are imposed or withheld by reason of the failure to comply by the Holder or the beneficial owner of a note with a
request of the Issuer or the Company addressed to the Holder and received by such Holder 30 days prior to the first payment date with respect to which such information is required (a) to provide information concerning the nationality, residence or
identity of the Holder or such beneficial owner or (b) to make any declaration or other similar claim or satisfy any information or reporting requirement, which, in the case of (a) or (b), is required or 

  

 11 

 
imposed by a statute, treaty, regulation or administrative practice of the applicable taxing jurisdiction as a precondition to exemption from all or part of
such tax, assessment or other governmental charge; 
  
 (v) any tax imposed on a payment to an individual and required to be made pursuant to the European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the ECOFIN Council meeting of November 26-27, 2000 on the
taxation of savings income or any law implementing or complying with, or introduced to conform to, such Directive; 
  
 (vi) any taxes payable by or on behalf of a Holder who would have been able to avoid such withholding or deduction by presenting the
relevant note, receipt or coupon to another Paying Agent in a member state of the European Union; or 
  
 (vii) any combination of items (i), (ii), (iii), (iv), (v) and (vi); 
  
 nor shall Additional Amounts be paid with respect to any payment of the principal of or any premium or interest (or any additional interest
that may be payable pursuant to the Registration Rights Agreement) on any such Note or Guarantee to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent such payment would be required by
the laws of the applicable taxing jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to such
Additional Amounts had it been the Holder of the Note. 
  
 All
references herein, in the Indenture to principal, premium, if any, or interest or any other amount payable in respect of any Note shall be deemed to include all Additional Amounts, if any, payable in respect of such principal, premium, interest or
other amount payable, unless the context otherwise requires, and express mention of the payment of Additional Amounts in any provision hereof shall not be construed as excluding reference to Additional Amounts in those provisions hereof where such
express mention is not made. 
  
 All references in the Indenture,
the Notes and the Guarantees to principal in respect of any Note shall be deemed to mean and include any Redemption Price payable in respect of such Note pursuant to any redemption or repurchase right hereunder (and all such references to the Stated
Maturity of the principal in respect of any Note shall be deemed to mean and include the Redemption Date with respect to any such Redemption Price), and all such references to principal, premium, interest or Additional Amounts shall be deemed to
mean and include any amount payable in respect hereof pursuant to Section 1007 of the Base Indenture. 
  
 The Notes are subject to redemption upon not less than 30 nor more than 60 days’ notice by mail, at any time: 
  
 (i) as a whole but not in part, at the election of the
Issuer, at a cash price equal to the sum of (A) the principal amount of the Notes being redeemed, (B) accrued and unpaid current interest thereon to but not including the date fixed for redemption, and (C) any Additional Amounts which would
otherwise be payable up to but not including the date fixed for redemption, if, as the result of any change in or any amendment to the laws, regulations or published tax rulings of the applicable taxing 

  

 12 

 
jurisdiction affecting taxation, or any change in the official administration, application or interpretation of such laws, regulations or published tax
rulings either generally or in relation to the notes or the guarantees, which change or amendment becomes effective on or after the original issue date of the notes, it is determined by the Issuer or the Company that the Issuer or the Company (x)
would be required to pay any Additional Amounts pursuant the Indenture or the terms of any Note or Guarantee in respect of interest on the next succeeding Interest Payment Date, and (y) such obligation cannot be avoided by the Issuer or the Company
taking reasonable measures available to it or them; provided, however, that (a) no such notice of redemption may be given earlier than 60 days prior to the earliest date on which the Issuer or the Company would be obligated to pay such
Additional Amounts were a payment in respect of the notes or guarantees, as the case may be, then due and (b) at the time any such redemption notice is given, such obligation to pay such Additional Amounts must remain in effect; or 
  
 (ii) in whole or in part, at a Redemption Price, as
calculated by the Issuer or the Company, equal to the greater of (A) 100% of the principal amount of such Notes and (B) the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of interest
accrued to the date of redemption) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at, in each case, the Treasury Rate plus 25 basis points, plus, in the case of (A) and (B),
accrued interest on the principal amount of such Notes to (but not including) the date of redemption. 
  
 For purposes of Clause (ii) above, the following terms shall have the specified meanings: 
  
 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent
yield to maturity or interpolated maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such Redemption Date. 
  
 “Comparable Treasury Issue”
means the United States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such notes. 
  
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Issuer. 

 
 “Comparable Treasury Price” means, with respect to any
Redemption Date, (x) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotation or (y) if the Trustee obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all such quotations. 
  
 “Reference Treasury Dealer” means each of Barclays Capital Inc., Citigroup Global Markets Inc., and Wachovia Capital Markets LLC or their Affiliates which are primary 

  

 13 

 
U.S. government securities dealers and two other leading primary U.S. government securities dealers in New York City reasonably designated by the Issuer;
provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer. 

 
 “Reference Treasury Dealer Quotation” means, with respect to
each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to
the Trustee by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Issuer
and the Company, on the one hand, and the rights of the Holders of the Notes, on the other hand, to be affected under the Indenture at any time by the Issuer, the Company and the Trustee with the consent of the Holders of a majority in principal
amount of the Notes at the time Outstanding (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of
the Holders of all Notes, to waive compliance by the Issuer with certain provisions of the Indenture and (ii) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to
waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
  
 Under the laws of England and Wales and subject to the requirements described below, the Company is permitted to reduce its share premium account, thereby
increasing its distributable reserves, each as reflected in its consolidated financial statements. Reducing the share premium account would require the passing of a special resolution of the Company’s shareholders authorizing such reduction and
the sanction of the English High Court. The consent of the Holders would be required in order to obtain the sanction of the English High Court. To the extent permitted by applicable law, each Holder hereof agrees that, to the extent that the Company
elects to reduce its share premium account, the Trustee, on behalf of the Holders and at the request of the Company, is authorized and directed to give its consent to any such reduction. 
  
 As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute
any proceeding with respect to the Indenture or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect
to the Notes, the Holders of not less than 25% in principal amount of the Notes at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any
such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the 

  

 14 

 
enforcement of any payment of principal hereof or any premium and interest hereon on or after the respective due dates expressed herein. 
  
 No reference herein to the Indenture and no provision of this Note or of the
Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.

  
 As provided in the Indenture and subject to certain
limitations therein set forth (including, without limitation, the restrictions on transfer under Sections 202 and 203 of the First Supplemental Indenture) the transfer of this Note is registrable in the Security Register, upon surrender of this Note
for registration of transfer at the office of the Trustee or agency of the Issuer in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Issuer, the Company and the Security Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and
for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 
  
 The Notes are issuable only in registered form without coupons in denominations of U.S.$2,000 and integral multiples of U.S.$1,000 in excess thereof. As
provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of a different authorized denomination, as requested by the Holder surrendering the
same. 
  
 No service charge shall be made for any such
registration of transfer or exchange, but the Issuer or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Note for registration of transfer, the Issuer, the Company, the Trustee and any agent of
the Issuer, the Company or of the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Issuer, the Company, the Trustee nor any such agent shall
be affected by notice to the contrary. 
  
 [If the Note is a
Global Note, then insert — This Note is a Global Note and is subject to the provisions of the Indenture relating to Global Notes, including the limitations in Section 203 of the First Supplemental Indenture on transfers and exchanges of
Global Notes.] 
  
 This Note, the Guarantees, the Indenture shall
be governed by, and construed in accordance with, the laws of the State of New York. 
  
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 15 

 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in full according
to applicable laws or regulations: 
  

					
	TEN COM - as tenants in common	  	UNIF GIFT MIN ACT—_________________
	 	  	 	  	                                       
                     (Cust)
	TEN ENT - as tenants by the entireties	  	Custodian _____________ under Uniform
	 	  	 	  	                            (Minor)
	JT TEN -	  	 as joint tenants with right
 of survivorship and not
as
 tenants in common
	  	 Gifts to Minors Act ________________
                                        
         (State)

  
 Additional
abbreviations may also be used 
 though not in the above list. 
  

 16 

 [If the Note is a Global Security, insert as a separate page— 
  
 Schedule A 
  
 SCHEDULE OF ADJUSTMENTS 
  
 Initial Principal Amount: U.S.$ 
  

									
	 Date
 adjustment
 made

	  	 Principal
 amount
 increase

	  	 Principal
 amount decrease

	  	 Principal
 amount
 following
 adjustment

	  	 Notation made on
 behalf of the
 Security
 Registrar

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

					
	
	  	
	  	
	  	
	  	

  

 17 

 (c) Form of Guarantee 
  
 WPP Group plc, a public limited company duly incorporated in England and Wales (the “Company”) which term includes
any Successor Person under the Indenture each as referred to in the Note on which this notation is endorsed) has fully and unconditionally guaranteed, pursuant to the terms of the Guarantee contained in Article Fourteen of the Base Indenture, the
due and punctual payment of the principal of and any premium and interest (including additional interest and Additional Amounts, if any) on such Note, when and as the same shall become due and payable, whether at the Stated Maturity, by declaration
of acceleration, call for redemption or otherwise, in accordance with the terms of such Notes and the Indenture. 
  
 All payments pursuant to the Guarantee shall be made without withholding or deduction for, or on account of, any present or future taxes, duties, levies,
assessments or governmental charges of whatever nature imposed or levied by or on behalf of the jurisdiction (or any political subdivision or taxing authority thereof or therein) in which the Company or any Successor Company is incorporated or
resident (or deemed for tax purposes to be resident) (the “applicable taxing jurisdiction”) unless such taxes, duties, levies, assessments or governmental charges are required by the applicable taxing jurisdiction or any such subdivision
or authority to be withheld or deducted. In that event, the Company will pay such Additional Amounts (as defined in the Indenture) as will result (after deduction of such taxes, duties, levies assessments or governmental charges and any additional
taxes, duties, levies, assessments or governmental charges payable in respect of such) in the payment to each Holder of a Note of the amounts which would have been payable in respect of the Guarantee thereof had no such withholding or deduction been
required, pursuant to the terms and limitations set forth in Section 1007 of the Base Indenture. 
  
 The obligations of the Company to the Holders of the Notes and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in
Article Fourteen of the Base Indenture, and reference is hereby made to such Article and the Indenture for the precise terms of the Guarantee. 
  
 The Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Note upon which this notation of the
Guarantee is endorsed shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized signatories. 
  
 The Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York. 
  

 18 

 The Guarantee is subject to release upon the terms set forth in the Indenture. 
  

			
	 WPP GROUP PLC

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  

	Section 203.	Transfers and Exchanges 

  
 (a) Restricted Notes. Restricted Notes shall be subject to the restrictions on transfer (the “Transfer Restrictions”) provided in the
applicable legend(s) (the “Restrictive Legends”) required to be set forth on the face of each Restricted Note pursuant to Section 202, unless compliance with the Transfer Restrictions shall be waived by the Issuer and the Company in
writing delivered to the Trustee. 
  
 The Transfer Restrictions
shall cease and terminate with respect to any particular Restricted Note upon receipt by the Issuer and the Company of evidence satisfactory to them (which may include an opinion of independent counsel experienced in matters of U.S. federal
securities law) that, as of the date of determination, such Restricted Note (a) has been transferred by the Holder thereof pursuant to Rule 144, (b) has been sold pursuant to an effective registration statement under the Securities Act, or (c) has
been transferred (i) in a transaction satisfying all the requirements of Rule 903 or 904 (as applicable) of Regulation S or (ii) pursuant to Rule 144A, and receipt by the Trustee of an Officers’ Certificate certifying that the Issuer and the
Company have received such evidence which may include an opinion of counsel stating that the Transfer Restrictions have ceased and terminated with respect to such Note. All references in the preceding sentence to any regulation, rule or provision
thereof shall be deemed also to refer to any successor provisions thereof. In addition, the Issuer and the Company may terminate the Transfer Restrictions with respect to any particular Restricted Note in such other circumstances as they determine
are appropriate for this purpose and shall deliver to the Trustee an Opinion of Counsel, if any, and Officers’ Certificate certifying that the Transfer Restrictions have ceased and terminated with respect to such Note. 
  
 At the request of the Holder and upon the surrender of such Restricted Notes,
together with Guarantees of the Company annexed thereto or endorsed thereon, to the Trustee or Security Registrar for exchange in accordance with the provisions of this Section 203, any Restricted Note as to which the Transfer Restrictions shall
have terminated in accordance with the preceding paragraph shall be exchanged for a new Note of like aggregate principal amount, but without the Restrictive Legends. Any Restricted Note as to which the Restrictive Legends shall have been removed
pursuant to this paragraph (and any Note issued upon registration of transfer of, exchange for or in lieu of such Restricted Note) shall thereupon cease to be a “Restricted Note” for all purposes of this First Supplemental Indenture.

  
 The Issuer shall notify the Trustee in writing of the
effective date of any registration statement registering any Restricted Notes under the Securities Act and shall ensure that any 

  

 19 

 
opinion of counsel received by it in connection with the removal of any Restrictive Legend is also addressed to the Trustee. The Trustee shall not be liable
for any action taken or omitted to be taken by it in good faith and without negligence on its part in accordance with such notice or any Opinion of Counsel. 
  
 As used in this Section 203(a), the term “transfer” encompasses any sale, pledge, transfer or other disposition of any Notes referred to herein.

  
 (b) Transfers Between Global Notes 
  
 (i) Restricted Global Note to Regulation S Global
Note. If the owner of a beneficial interest (an “Owner Transferor”) in a Restricted Global Note wishes at any time to transfer such beneficial interest to a Person (an “Owner Transferee”) who wishes to take delivery thereof
in the form of a beneficial interest in a Regulation S Global Note, such transfer may be effected, subject to the Applicable Procedures, only in accordance with the provisions of this Section 203(b)(i). Upon receipt by the Trustee, as Security
Registrar, at the Corporate Trust Office of (l) written instructions given in accordance with the Applicable Procedures from the Agent Member, whose account is to be debited (an “Agent Member Transferor”) with respect to the Restricted
Global Note, directing the Trustee, as Security Registrar, to credit or cause to be credited to a specified account of another Agent Member (an “Agent Member Transferee”) (which shall be an account with Euroclear or Clearstream or both) a
beneficial interest in a Regulation S Global Note in a principal amount equal to the beneficial interest in the Restricted Global Note to be so transferred (the “Restricted Global Transferred Amount”), (2) a written order given in
accordance with the Applicable Procedures containing information regarding the account of the Agent Member Transferee to be credited with, and the Agent Member Transferor to be debited by, the Restricted Global Transferred Amount, and (3) a
certificate in substantially the form set forth in Annex A hereto given by the Owner Transferor, the Trustee, as Security Registrar, shall instruct the Depositary to reduce the principal amount of the Restricted Global Note, and to increase the
principal amount of the Regulation S Global Note, by the Restricted Global Transferred Amount, and to credit, or cause to be credited to, the account of the Agent Member Transferee a beneficial interest in the Regulation S Global Note, and to debit,
or cause to be debited to, the account of the Agent Member Transferor a beneficial interest in the Restricted Global Note, in each case having a principal amount equal to the Restricted Global Transferred Amount. 
  
 (ii) Restricted Global Note to Unrestricted Global
Note. If an Owner Transferor wishes at any time to transfer a beneficial interest in a Restricted Global Note to an Owner Transferee who wishes to take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, such
transfer may be effected, subject to the Applicable Procedures, only in accordance with this Section 203(b)(ii). Upon receipt by the Trustee, as Security Registrar, at the Corporate Trust Office of (l) written instructions given in accordance with
the Applicable Procedures from the Agent Member Transferor directing the Trustee, as Security Registrar, to credit or cause to be credited to a specified account of an Agent Member Transferee (which may but need not be an account with Euroclear or
Clearstream) a beneficial interest in the Unrestricted Global Note in a principal amount equal to the Restricted Global Transferred Amount, (2) a written order given in accordance with the Applicable Procedures containing information regarding the
account of the Agent Member Transferee to be credited with, and the account of the 

  

 20 

 
Agent Member Transferor to be debited for, the Restricted Global Transferred Amount, and (3) a certificate in substantially the form set forth in Annex B
hereto given by the Owner Transferor, the Trustee, as Security Registrar, shall instruct the Depositary to reduce the principal amount of the Restricted Global Note, and to increase the principal amount of the Unrestricted Global Note, by the
Restricted Global Transferred Amount, and to credit, or cause to be credited to, the account of the Agent Member Transferee a beneficial interest in the Unrestricted Global Note, and to debit, or cause to be debited to, the account of the Agent
Member Transferor a beneficial interest in the Restricted Global Note, in each case having a principal amount equal to the Restricted Global Transferred Amount. 
  
 (iii) Regulation S Global Note or Unrestricted Global Note to Restricted Global Note. If an Owner
Transferor wishes at any time to transfer a beneficial interest in a Regulation S Global Note or an Unrestricted Global Note to an Owner Transferee who wishes to take delivery thereof in the form of a beneficial interest in a Restricted Global Note,
such transfer may be effected, subject to the Applicable Procedures, only in accordance with this Section 203(b)(iii). Upon receipt by the Trustee, as Security Registrar, at the Corporate Trust Office of (1) written instructions given in accordance
with the Applicable Procedures from the Agent Member Transferor, directing the Trustee, as Security Registrar, to credit, or cause to be credited to, a specified account of an Agent Member Transferee a beneficial interest in the Restricted Global
Note in a principal amount equal to that of the beneficial interest in the Regulation S Global Note or Unrestricted Global Note to be so transferred, (2) a written order given in accordance with the Applicable Procedures containing information
regarding the account of the Agent Member Transferee to be credited with, and the account of the Agent Member Transferor (which, in the case of beneficial interest in the Regulation S Global Note, must be an account with Euroclear or Clearstream or
both) to be debited for, such beneficial interest, and (3) with respect to a transfer of a beneficial interest in the Regulation S Global Note (but not the Unrestricted Global Note), a certificate in substantially the form set forth in Annex C
hereto given by the Owner Transferor, the Trustee, as Security Registrar, shall instruct the Depositary to reduce the principal amount of the Regulation S Global Note or Unrestricted Global Note, as the case may be, and increase the principal amount
of the Restricted Global Note, by the principal amount of the beneficial interest in the Regulation S Global Note or Unrestricted Global Note to be so transferred, and to credit, or cause to be credited to, the account of the Agent Member Transferee
such beneficial interest in the Restricted Global Note, and to debit, or cause to be debited to, the account of the Agent Member Transferor such beneficial interest in the Regulation S Global Note or Unrestricted Global Note, as the case may be.

  
 (c) In case of any transfer or exchange the procedures and
requirements for which are not addressed in detail in this Section 203, such transfer or exchange shall be subject to such procedures and requirements as may be reasonably prescribed by the Issuer, the Company and the Trustee from time to time and,
in the case of a transfer or exchange invoking a Global Note, the Applicable Procedures. 
  
 (d) Notwithstanding the foregoing, during the period of two years after the Closing Date (as defined in the Purchase Agreement), the Issuer and the Company shall not, and shall not permit any of their Affiliates that
are Subsidiaries to, purchase or agree to purchase or otherwise acquire any Restricted Notes, whether as beneficial owner or otherwise (except as agent on behalf 

  

 21 

 
of and for the account of customers in the ordinary course of business as a securities broker in unsolicited broker’s transactions) unless, immediately
upon any such purchase, the Issuer, the Company or any such Affiliate shall submit such Restricted Notes to the Trustee for cancellation. The Issuer and the Company further agree to ask their Affiliates that are not Subsidiaries to agree not to
purchase or otherwise acquire any Restricted Notes, whether as beneficial owner or otherwise, except as permitted in the preceding sentence. 
  

	Section 204.	Form of Trustee’s Certificate of Authentification 

  
 The Trustee’s certificate of authentification shall be in substantially the following form: 
  
 This is one of the Notes referred to in the within-mentioned Indenture.

  
 Dated:
                             
  

			
	 CITIBANK N.A.,
 as Trustee

		
	By:	 	 
	 	 	Authorized Signatory

  

	Section 205.	Maintenance of Office or Agency 

  
 With respect to any Notes that are not in the form of a Global Note, the Issuer shall maintain (i) in the Borough of Manhattan, The City of New York and
(ii) in Luxembourg, so long as the Notes are listed on the Luxembourg Stock Exchange and the rules and regulations of the Luxembourg Stock Exchange so require, an office or agency, in each case, in accordance with Section 1002 of the Base Indenture.

  

	Section 206.	Luxembourg Stock Exchange Listing 

  
 The Issuer shall use its best reasonable efforts to list the Notes, subject to official notice of issuance, on the Luxembourg Stock Exchange and shall
from time to time take such other actions as shall be necessary or advisable to maintain any listing of the Notes in accordance with the terms of this Section 206. For so long as any Notes are listed on the Luxembourg Stock Exchange and in
accordance with the rules and regulations of the Luxembourg Stock Exchange, the Issuer will publish all notices to the Holders in a newspaper with general circulation in Luxembourg, which is expected to be the Luxemburger Wort in addition to
giving notice in accordance with Section 106 of the Base Indenture. 
  
 For so long as the Notes are listed on the Luxembourg Stock Exchange, the Issuer shall notify the Luxembourg Stock Exchange of the occurrence of an Event of Default and, prior to publication of notice of such Event of Default in Luxembourg,
submit a draft of the notice to the Luxembourg Stock Exchange. 
  

 22 

 ARTICLE THREE 
  
 MISCELLANEOUS PROVISIONS 
  

	Section 301.	Separability of Invalid Provisions 

  
 In case any one or more of the provisions contained in this First Supplemental Indenture should be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provisions contained in this First Supplemental Indenture, and to the extent and only to the extent that any such provision is invalid, illegal or unenforceable, this First
Supplemental Indenture shall be construed as if such provision had never been contained herein. 
  

	Section 302.	Execution in Counterparts 

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

	Section 303.	Certain Matters 

  
 The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this First Supplemental Indenture or for
or in respect of the recitals contained herein, all of which are made solely by the Issuer and the Company. 
  

	Section 304.	Conflict with Trust Indenture Act. 

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

	Section 305.	Effect of Headings and Table of Contents. 

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

	Section 306.	Successors and Assigns. 

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

	Section 307.	Benefits of Indenture. 

  
 Nothing in the Indenture, as supplemented by this First Supplemental Indenture, or in the Notes, express or implied, shall give to any Person, other than
the parties hereto and their 

  

 23 

 
successors hereunder and the Holders of Notes, any benefit or any legal or equitable right, remedy or claim under the Indenture, as supplemented by this
First Supplemental Indenture. 
  

	Section 308.	Governing Law. 

  
 THIS FIRST SUPPLEMENTAL INDENTURE, THE NOTES AND THE GUARANTEES THEREOF SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK, UNITED STATES OF AMERICA. 
  

	Section 309.	Submission to Jurisdiction; Appointment of Agent for Service of Process. 

  
 The Issuer, the Company and the Trustee agree that any legal suit, action or proceeding arising out of or relating to this
First Supplemental Indenture, and each of the Issuer and the Company agrees that any legal suit, action or proceeding arising out of or relating to the Notes and the Guarantees, may be instituted in any U.S. federal or New York state court in the
Borough of Manhattan, The City of New York and in the courts of its own corporate domicile, in respect of actions brought against each such party as a defendant, and each waives any objection which it may now or hereafter have to the laying of the
venue of any such legal suit, action or proceeding, waives any immunity from jurisdiction or to service of process in respect of any such suit, action or proceeding, waives any right to which it may be entitled on account of place of residence or
domicile and irrevocably submits to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding. Each of the Issuer and the Company hereby appoints CT Corporation System, 111 Eighth Avenue, 13th Floor, New York, New York 10011, as its authorized agent (the “Authorized Agent”) upon which process may be served
in any legal action or proceeding against it with respect to its obligations under this Indenture, the Securities of any series or the Guarantee, as the case may be, instituted in any federal or state court in the Borough of Manhattan, The City of
New York by the Trustee or by the Holder of any Note. Each of the Issuer and the Company reserves the right to appoint another person located or with an office in the Borough of Manhattan, The City of New York, selected in their discretion, as a
successor Authorized Agent, and upon acceptance of such appointment by such a successor and notice to the Trustee and the Holders the appointment of the prior Authorized Agent shall terminate. If for any reason the designee, appointee and agent
hereunder ceases to be able to act as the Authorized Agent or to have an address in the Borough of Manhattan, The City of New York, the Issuer and the Company will appoint a successor Authorized Agent in accordance with the preceding sentence. Each
of the Issuer and the Company further agrees to take any and all action, including the filing of any and all documents and instruments, as may be necessary to continue such designation and appointment of such agent in full force and effect until
this First Supplemental Indenture has been satisfied and discharged in accordance with Article Four or Article Thirteen of the Indenture. Service of process upon the Authorized Agent addressed to it at the address set forth above, as such address
may be changed within the Borough of Manhattan, The City of New York by notice given by the Authorized Agent to the Trustee, together with written notice of such service mailed or delivered to the Issuer or the Company shall be deemed, in every
respect, effective service of process on the Issuer or the Company, as the case may be. 
  

	Section 310.	Priority of First Supplemental Indenture. 

  
 In the event any conflict arises between the terms of the Indenture and the terms of this First Supplemental Indenture, the terms of this First
Supplemental Indenture shall be 

  

 24 

 
controlling and supersede such conflicting terms of the Indenture. Unless otherwise specifically modified or amended hereby, the terms of the Indenture shall
remain in full force and effect with respect to the Notes. 
  

	Section 311.	Liquidated Damages Notice. 

  
 In the event that the Issuer is required to pay liquidated damages to holders of Notes as the result of a Registration Default pursuant to the
Registration Rights Agreement, the Issuer will provide written notice (the “Liquidated Damages Notice”) to the Trustee of its obligation to pay such liquidated damages no later than 15 days prior to the proposed payment date for such
liquidated damages, and the Liquidated Damages Notice shall set forth the amount of liquidated damages to be paid by the Issuer on such payment date. The Trustee shall not at any time be under any duty or responsibility to any Holder of Notes to
determine the liquidated damages, or with respect to the nature, extent, or calculation of the amount liquidated damages owed, or with respect to the method employed in such calculation of the liquidated damages. 
  

	Section 312.	Not Responsible for Recitals or Issuance of Securities. 

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

 25 

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

			
	 WPP FINANCE (UK),
 as Issuer

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	 WPP GROUP PLC,
 as Guarantor

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	 CITIBANK N.A.,
 as Trustee

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  

 26 

 ANNEX A 
  
 FORM OF TRANSFER CERTIFICATE 
 FOR
TRANSFER FROM RESTRICTED GLOBAL 
 NOTE TO REGULATION S GLOBAL NOTE 
 (Transfers pursuant to § 203(b)(i) 
 of the Supplemental Indenture)

  
 Citibank, N.A., 
     as Trustee 
 111 Wall Street 
 New York, New York 10005 
 Attention: Citibank Agency & Trust 

 

	 	Re:	5.875% Notes due 2014 of WPP Finance (UK) (the “Notes”) 

  
 Reference is hereby made to the First Supplemental Indenture, dated as of June 23, 2004 (the “Supplemental Indenture”), among WPP Finance (UK),
as Issuer, WPP Group plc, as Guarantor, and Citibank, N.A., as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture. 
  
 This letter relates to
U.S.$                     principal amount of Notes which are evidenced by one or more Restricted Global Notes (CUSIP No. 92931N AA 8) and held with
the Depositary in the name of [INSERT NAME OF TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the Notes to a person who shall take delivery thereof in the form of an equal principal
amount of Notes evidenced by one or more Regulation S Global Notes (CUSIP No. G70856 AA 0), which amount, immediately after such transfer, is to be held with the Depositary through Euroclear or Clearstream or both (Common Code: 019515648; ISIN:
USG70856AA08). 
  
 In connection with such request and in respect
of such Notes, the Transferor does hereby certify that such transfer has been effected pursuant to and in accordance with Rule 903 or Rule 904 (as applicable) under the Securities Act or Rule 144, and accordingly the Transferor does hereby further
certify that: 
  
 (i) If the transfer is being
effected pursuant to Rule 903 and Rule 904: 
  
 (1) the offer of the Notes was not made to a person in the United States; 
  
 (2) either: 
  
 (A) at the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its
behalf reasonably believed that the transferee was outside the United States, or 
  
 (B) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person 

  

 A-1 

 
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States; 
  
 (3) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or 904(b) of Regulations S, as applicable; 
  
 (4) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act; and 
  
 (5) upon completion of the transaction, the beneficial
interest being transferred as described above is to be held with the Depositary through Euroclear or Clearstream or both. 
  
 (ii) If the transfer is being effected pursuant to Rule 144, the Notes are being transferred in a transaction permitted by Rule 144.

  
 This certificate and the statements contained herein are made
for your benefit and the benefit of the Issuer, the Company and the underwriters or initial purchasers, if any, of the initial offering of such Notes being transferred. Terms used in this certificate and not otherwise defined in the Supplemental
Indenture have the meanings set forth in Regulation S or Rule 144. 
  

			
	 [Insert Name of Transferor]

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  
 Dated: 
  

	cc:	WPP Finance (UK) 

	    	WPP Group plc 

  

 A-2 

 ANNEX B 
  
 FORM OF TRANSFER CERTIFICATE 
 FOR
TRANSFER FROM RESTRICTED GLOBAL 
 NOTE TO UNRESTRICTED GLOBAL NOTE 
 (Transfers Pursuant to § 203(b)(ii) 
 of the Supplemental Indenture)

  
 Citibank, N.A., 
     as Trustee 
 111 Wall Street 
 New York, New York 10005 
 Attention: Citibank Agency & Trust 

 

	 	Re:	5.875% Notes due 2014 of WPP Finance (UK) (the “Notes”) 

  
 Reference is hereby made to the First Supplemental Indenture, dated as of June 23, 2004 (the “Supplemental Indenture”), among WPP Finance (UK),
as Issuer, WPP Group plc, as Guarantor, and Citibank, N.A., as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture. 
  
 This letter relates to
U.S.$                     principal amount of Notes which are evidenced by one or more Regulation S Global Notes (CUSIP No. G70856 AA 0) and held
with the Depositary in the name of [INSERT NAME OF TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the Notes to a person that shall take delivery thereof in the form of an equal
principal amount of Notes evidenced by one or more Unrestricted Global Notes (CUSIP No.                     ). 
  
 In connection with such request and in respect of such Notes, the Transferor
does hereby certify that such transfer has been effected pursuant to and in accordance with either (i) Rule 903 or Rule 904 (as applicable) under the Securities Act, or (ii) Rule 144, and accordingly the Transferor does hereby further certify that:

  
 (i) If the transfer has been effected
pursuant to Rule 903 and Rule 904: 
  
 (1) the
offer of the Notes was not made to a person in the United States; 
  
 (2) either: 
  
 (A) at the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably believed that the transferee was outside the United States, or 
  
 (B) the transaction was executed in, on or through the
facilities of a designated offshore securities market and neither the Transferor nor 

  

 B-1 

 
any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States; 
  
 (3) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and 
  
 (4) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act. 
  
 (ii) If the transfer has been effected pursuant to Rule 144,
the Notes have been transferred in a transaction permitted by Rule 144. 
  
 This certificate and the statements contained herein are made for your benefit and the benefit of the Issuer, the Company and the underwriters or initial purchasers, if any, of the Notes being transferred. Terms used in this certificate and
not otherwise defined in the Supplemental Indenture have the meanings set forth in Regulation S under the Securities Act. 
  

			
	 [Insert Name of Transferor]

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  
 Dated: 
  

	cc:	WPP Finance (UK) 

	    	WPP Group plc 

  

 B-2 

 ANNEX C 
  
 FORM OF TRANSFER CERTIFICATES 
 FOR
TRANSFER FROM REGULATION S GLOBAL 
 NOTE OR UNRESTRICTED GLOBAL NOTE 
 TO RESTRICTED GLOBAL NOTE 
 (Transfers Pursuant to § 203(b)(iii)

 of the Supplemental Indenture) 
  
 [Transferor Certificate] 
  
 Citibank, N.A., 
     as Trustee 
 111 Wall Street 
 New York, New York 10005 
 Attention: Citibank Agency & Trust 
  

	 	Re:	5.875% Notes due 2014 of WPP Finance (UK) (the “Notes”) 

  
 Reference is hereby made to the First Supplemental Indenture, dated as of June 23, 2004 (the “Supplemental Indenture”), among WPP Finance (UK),
as Issuer, WPP Group plc, as Guarantor, and Citibank, N.A., as Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Supplemental Indenture. 
  
 This letter relates to
U.S.$                     principal amount of Notes which are evidenced by one or more Regulation S Global Notes (CUSIP No. G70856 AA 0) and held
with the Depositary through [Euroclear] [Clearstream] (Common Code: 09515648; ISIN: USG70856AA08) in the name of [INSERT NAME OF TRANSFEROR] (the “Transferor”). The Transferor has requested a transfer of such beneficial interest in the
Notes to a person that shall take delivery thereof (the “Transferee”) in the form of an equal principal amount of Notes evidenced by one or more Restricted Global Notes (CUSIP No. 92931N AA 8). 
  
 In connection with such request and in respect of such Notes, the Transferor
does hereby certify that: 
  
 (1) Such transfer is being effected
in accordance with all applicable securities laws of any state of the United States or any other jurisdiction; 
  
 (2) the Notes are being transferred in accordance with Rule 144A to a transferee whom the Transferor reasonably believes is a qualified institutional
buyer within the meaning of Rule 144A and is purchasing the Notes for its own account or any account with respect to which the transferee exercises sole investment discretion, in each case in a transaction meeting the requirements of Rule 144A; and

  
 (3) it has notified the transferee that it has relied on Rule
144A as a basis for the exemption from the registration requirements of the Securities Act used in connection with the transfer. 
  

 C-1 

 This certificate and the statements contained herein are made for your benefit and the benefit of the
Issuer, the Company and the underwriters and initial purchasers, if any, of the Notes being transferred. 
  

			
	 [Insert Name of Transferor]

		
	 By:
	 	 
	 	 	 Name:

	 	 	 Title:

  
 Dated: 
  

	cc:	WPP Finance (UK) 

	    	WPP Group plc 

  

 C-2

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