Document:

Exhibit 4.1

 

 

 

Flagstar Bancorp, Inc.

 

INDENTURE

 

Dated as of October 28, 2020

 

Wilmington Trust, National Association,

as Trustee

 

 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	 	Page
	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE	1
	Section 1.1	 	Definitions	1
	Section 1.2	 	Other Definitions	6
	Section 1.3	 	Incorporation by Reference of Trust Indenture Act	6
	Section 1.4	 	Rules of Construction	7
	ARTICLE II THE SECURITIES	7
	Section 2.1	 	Issuable in Series	7
	Section 2.2	 	Establishment of Terms of Series of Securities	7
	Section 2.3	 	Execution and Authentication	10
	Section 2.4	 	Registrar and Paying Agent	11
	Section 2.5	 	Paying Agent to Hold Money in Trust	11
	Section 2.6	 	Securityholder Lists	12
	Section 2.7	 	Transfer and Exchange	12
	Section 2.8	 	Mutilated, Destroyed, Lost and Stolen Securities	12
	Section 2.9	 	Outstanding Securities	13
	Section 2.10	 	Treasury Securities	14
	Section 2.11	 	Temporary Securities	14
	Section 2.12	 	Cancellation	14
	Section 2.13	 	Defaulted Interest	14
	Section 2.14	 	Global Securities	15
	Section 2.15	 	CUSIP Numbers	16
	ARTICLE III REDEMPTION	16
	Section 3.1	 	Notice to Trustee	16
	Section 3.2	 	Selection of Securities to be Redeemed or Repurchased	17
	Section 3.3	 	Notice of Redemption	17
	Section 3.4	 	Effect of Notice of Redemption	18
	Section 3.5	 	Deposit of Redemption Price	18
	Section 3.6	 	Securities Redeemed in Part	18
	ARTICLE IV COVENANTS	18
	Section 4.1	 	Payment of Principal and Interest	18
	Section 4.2	 	Maintenance of Office or Agency	19
	Section 4.3	 	Reports	19
	Section 4.4	 	Compliance Certificate	20
	Section 4.5	 	Taxes	20
	Section 4.6	 	Stay, Extension and Usury Laws	20
	Section 4.7	 	Corporate Existence	20
	ARTICLE V SUCCESSORS	21
	Section 5.1	 	Merger, Consolidation, or Sale of Assets	21
	Section 5.2	 	Successor Corporation Substituted	22
	ARTICLE VI DEFAULTS AND REMEDIES	22
	Section 6.1	 	Events of Default	22
	Section 6.2	 	Acceleration	23
	Section 6.3	 	Other Remedies	24
	Section 6.4	 	Waiver of Past Defaults	24

 

    i

     

    

 

	Section 6.5	 	Control by Majority	24
	Section 6.6	 	Limitation on Suits	24
	Section 6.7	 	Rights of Holders of Security to Receive Payment	25
	Section 6.8	 	Collection Suit by Trustee	25
	Section 6.9	 	Trustee May File Proofs of Claim	25
	Section 6.10	 	Priorities	26
	Section 6.11	 	Undertaking for Costs	26
	ARTICLE VII TRUSTEE	26
	Section 7.1	 	Duties of Trustee	26
	Section 7.2	 	Rights of Trustee	28
	Section 7.3	 	Individual Rights of Trustee	30
	Section 7.4	 	Trustee’s Disclaimer	30
	Section 7.5	 	Notice of Defaults	30
	Section 7.6	 	Reports by Trustee to Holders	30
	Section 7.7	 	Compensation and Indemnity	30
	Section 7.8	 	Replacement of Trustee	31
	Section 7.9	 	Successor Trustee by Merger, etc.	32
	Section 7.10	 	Eligibility; Disqualification	32
	Section 7.11	 	Preferential Collection of Claims Against Company	32
	ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE	33
	Section 8.1	 	Option to Effect Legal Defeasance or Covenant Defeasance	33
	Section 8.2	 	Legal Defeasance and Discharge	33
	Section 8.3	 	Covenant Defeasance	33
	Section 8.4	 	Conditions to Legal or Covenant Defeasance	34
	Section 8.5	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	35
	Section 8.6	 	Repayment to Company	36
	Section 8.7	 	Reinstatement	36
	ARTICLE IX AMENDMENTS AND WAIVERS	37
	Section 9.1	 	Without Consent of Holders	37
	Section 9.2	 	With Consent of Holders	38
	Section 9.3	 	Limitations	38
	Section 9.4	 	Compliance with Trust Indenture Act	39
	Section 9.5	 	Revocation and Effect of Consents	39
	Section 9.6	 	Notation on or Exchange of Securities	39
	Section 9.7	 	Trustee Protected	39
	ARTICLE X SATISFACTION AND DISCHARGE	40
	Section 10.1	 	Satisfaction and Discharge	40
	Section 10.2	 	Application of Trust Money	41
	ARTICLE XI MISCELLANEOUS	41
	Section 11.1	 	Trust Indenture Act Controls	41
	Section 11.2	 	Notices	41
	Section 11.3	 	Communication by Holders with Other Holders	42
	Section 11.4	 	Certificate and Opinion as to Conditions Precedent	42
	Section 11.5	 	Statements Required in Certificate or Opinion	42
	Section 11.6	 	Rules by Trustee and Agents	43

 

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	Section 11.7	 	Legal Holidays	43
	Section 11.8	 	No Recourse Against Others	43
	Section 11.9	 	Counterparts	43
	Section 11.10	 	Governing Laws; Jurisdiction; Waiver of Jury Trial	43
	Section 11.11	 	No Adverse Interpretation of Other Agreements	44
	Section 11.12	 	Successors	44
	Section 11.13	 	Severability	44
	Section 11.14	 	Table of Contents, Headings, Etc.	44
	ARTICLE XII SINKING FUNDS	44
	Section 12.1	 	Applicability of Article	44
	Section 12.2	 	Satisfaction of Sinking Fund Payments with Securities	45
	Section 12.3	 	Redemption of Securities for Sinking Fund	45
	Section 12.4	 	Compliance with Applicable Anti-Terrorism and Anti-Money Laundering Regulations	46

 

    iii

     

    

 

FLAGSTAR BANCORP, INC.

 

Reconciliation and tie between Trust Indenture
Act of 1939

and Indenture, dated as of October 28, 2020

 

	§310(a)(1)	7.10
	(a)(2)	7.10
	(a)(3)	Not Applicable
	(a)(4)	Not Applicable
	(a)(5)	7.10
	(b)	7.10
	§ 311(a)	7.11
	(b)	7.11
	§ 312(a)	2.6
	(b)	11.3
	(c)	11.3
	§313(a)	7.6
	(b)(1)	7.6
	(b)(2)	7.6
	(c)(1)	7.6
	(d)	7.6
	§ 314(a)	4.3,11.5
	(b)	Not Applicable
	(c)(1)	11.4
	(c)(2)	11.4
	(c)(3)	Not Applicable
	(d)	Not Applicable
	(e)	11.5
	(f)	Not Applicable
	§ 315(a)	7.1
	(b)	7.5
	(c)	7.1
	(d)	7.1
	(e)	6.11
	§316(a)	2.10
	(a)(1)(A)	6.5
	(a)(1)(B)	6.4
	(b)	9.3
	§317(a)(1)	6.8
	(a)(2)	6.9
	(b)	2.5
	§ 318(a)	11.1

 

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

 

    iv

     

    

 

 

Indenture, dated as
of October 28, 2020, between Flagstar Bancorp, Inc., a Michigan corporation (“Company”), and Wilmington
Trust, National Association, as trustee (“Trustee”).

 

Each party agrees as
follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under
this Indenture.

 

ARTICLE I

 

DEFINITIONS
AND INCORPORATION BY REFERENCE

 

Section 1.1     Definitions.

 

“Additional
Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein
or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are
owing to such Holders.

 

“Affiliate”
of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified person. For purposes of this definition, “control”, as used with respect to any
person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of such person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial
ownership of 10% or more of the Voting Stock of a Person will be deemed to be control. For purposes of this definition, the terms
 “controlling,” “controlled by” and “under common control with” have correlative meanings.

 

“Agent”
means any Registrar, Paying Agent or Service Agent.

 

“Attributable
Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present value of the obligation
of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including
any period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be
calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP;
provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness
represented thereby will be determined in accordance with the definition of “Capital Lease Obligation.”

 

“Board of
Directors” means:

 

(1)         with
respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf
of such board;

 

(2)         with
respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(3)         with
respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof;
and

 

(4)         with
respect to any other person, the board or committee of such person serving a similar function.

 

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

 

 

    

     

    

 

“Business
Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or in the place of payment on
which banking institutions are authorized or required by law, regulation or executive order to close and any other day expressly
provided for as a “Business Day” in a Board Resolution, Officers’ Certificate or supplemental indenture hereto
for a particular Series.

 

“Capital Lease
Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease
that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof
shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such
lease may be prepaid by the lessee without payment of a penalty.

 

“Capital Stock”
means:

 

(1)         in
the case of a corporation, corporate stock;

 

(2)         in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock;

 

(3)         in
the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests;
and

 

(4)         any
other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether
or not such debt securities include any right of participation with Capital Stock.

 

“Company”
means the party named as such above until a successor replaces it and thereafter means the successor.

 

“Company Order”
means a written order signed in the name of the Company by two Officers, one of whom must be the Company’s principal executive
officer, principal financial officer or principal accounting officer.

 

“Corporate
Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally
administered.

 

“Default”
means any event that is, or with the passage of time or the giving of notice or both.

 

“Depositary”
means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global
Securities, the person designated as Depositary for such Series by the Company, which Depositary shall be a clearing agency
registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as used with
respect to the Securities of any Series shall mean the Depositary with respect to the Securities of such Series.

 

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

 

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

 

“ECU”
means the European Currency Unit as determined by the Commission of the European Union.

 

“EDGAR”
means the SEC’s Electronic Data Gathering, Analysis and Retrieval system or any successor thereto.

 

“Equity Interests”
means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is
convertible into, or exchangeable for, Capital Stock).

 

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

 

“Foreign Currency”
means any currency or currency unit issued by a government other than the government of The United States of America.

 

“GAAP”
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession,
which are in effect from time to time.

 

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

 

“Government
Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment
for which the United States pledges its full faith and credit.

 

“Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct
or indirect, in any manner, including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or
by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement
conditions or otherwise).

 

“Hedging Obligations”
means, with respect to any specified person, the obligations of such person under:

 

(1)         currency
exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency
exchange, interest rate or commodity collar agreements, and

 

(2)         (i) agreements
or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity prices or
commodity transportation or transmission pricing or availability; (ii) any netting arrangements, power purchase and sale agreements,
fuel purchase and sale agreements, swaps, options and other agreements, in each case, that fluctuate in value with fluctuations
in energy, power or gas prices; and (iii) agreements or arrangements for commercial or trading activities with respect to
the purchase, transmission, distribution, sale, lease or hedge of any energy related commodity or service.

 

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

 

“Indebtedness”
means, with respect to any specified person, any indebtedness of such person (excluding accrued expenses and trade payables), whether
or not contingent:

 

(1)         in
respect of borrowed money;

 

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

 

(3)         in
respect of banker’s acceptances;

 

(4)         representing
Capital Lease Obligations or Attributable Debt in respect of sale and leaseback transactions;

 

(5)         representing
the balance deferred and unpaid of the purchase price of any property (including trade payables) or services due more than six
months after such property is acquired or such services are completed; or

 

(6)         representing
the net amount owing under any Hedging Obligations,

 

if and to the extent
any of the preceding items (other than letters of credit, Attributable Debt and Hedging Obligations) would appear as a liability
upon a balance sheet of the specified person prepared in accordance with GAAP. In addition, the term “Indebtedness”
includes all Indebtedness of others secured by a Lien on any asset of the specified person (whether or not such Indebtedness is
assumed by the specified person) and, to the extent not otherwise included, the Guarantee by the specified person of any Indebtedness
of any other person; provided that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured
by such Lien and the value of the person’s property securing such Lien.

 

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

 

“interest”
with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

“Lien”
means, with respect to any asset:

 

(1)         any
mortgage, deed of trust, deed to secure debt, lien (statutory or otherwise), pledge, hypothecation, encumbrance, restriction, collateral
assignment, charge or security interest in, on or of such asset;

 

(2)         the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
lease having substantially the same economic effect as any of the foregoing) relating to such asset; and

 

(3)         in
the case of Equity Interests or debt securities, any purchase option, call or similar right of a third party with respect to such
Equity Interests or debt securities.

 

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

 

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“Officer”
means the Chief Executive Officer, the President, any Vice President (whether or not designated by a number or numbers or word
or words added before or after the title “Vice President”), the Treasurer, the Secretary, any Assistant Treasurer
or any Assistant Secretary of the Company.

 

“Officers’
Certificate” means a certificate signed by two Officers, one of whom must be the Company’s Chief Executive Officer,
Chief Financial Officer or Chief Accounting Officer.

 

“Opinion of
Counsel” means a written opinion of legal counsel who is acceptable to the Trustee. The counsel may be an employee of
or counsel to the Company who is acceptable to the Trustee.

 

“person”
means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization,
limited liability company or government or other entity.

 

“principal”
of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in
respect of, the Security.

 

“Responsible
Officer” means any officer of the Trustee in its Corporate Trust Office (including any vice president, assistant vice
president, trust officer or other officer) and also means, with respect to a particular corporate trust matter, any other officer
customarily performing functions similar to those performed by the above designated officers and also means, any other officer
to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject and,
in each case, who shall have direct responsibility for this Indenture.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities”
means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this
Indenture.

 

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

 

“Stated Maturity”
means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of
interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of the indenture,
and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date
originally scheduled for the payment thereof.

 

“Subsidiary”
means, with respect to any specified person:

 

(1)            any
corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled
(without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement
that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association
or other business entity is at the time owned or controlled, directly or indirectly, by that person or one or more of the other
Subsidiaries of that person (or a combination thereof); and

 

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(2)         any
partnership (a) the sole general partner or the managing general partner of which is such person or a Subsidiary of such person
or (b) the only general partners of which are that person or one or more Subsidiaries of that person (or any combination thereof).

 

“TIA”
means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required
by any such amendment, the Trust Indenture Act as so amended.

 

“Trustee”
means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have
become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each person
who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect
to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

 

“Voting Stock”
of any person as of any date means the Capital Stock of such person that is at the time entitled to vote in the election of the
Board of Directors of such person.

 

Section 1.2     Other
Definitions.

 

	TERM	 	DEFINED IN
 SECTION	 
	“Bankruptcy Law”	 	 	6.1	 
	“Custodian”	 	 	6.1	 
	“Event of Default”	 	 	6.1	 
	“Legal Holiday”	 	 	11.7	 
	“mandatory sinking fund payment”	 	 	12.1	 
	“optional sinking fund payment”	 	 	12.1	 
	“Paying Agent”	 	 	2.4	 
	“Registrar”	 	 	2.4	 
	“Service Agent”	 	 	2.4	 

 

Section 1.3     Incorporation
by Reference of Trust Indenture Act.

 

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

 

“Commission”
means the SEC.

 

“indenture securities”
means the Securities.

 

“indenture security
holder” means a Securityholder.

 

“indenture to
be qualified” means this Indenture.

 

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

 

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

 

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

 

Section 1.4     Rules of
Construction.

 

Unless the context
otherwise requires:

 

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

 

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

 

(c)         references
to “generally accepted accounting principles” and “GAAP” shall mean generally accepted accounting
principles in effect as of the time when and for the period as to which such accounting principles are to be applied;

 

(d)         “or”
is not exclusive;

 

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

 

(f)         “including”
is not limiting; and

 

(g)         provisions
apply to successive events and transactions.

 

ARTICLE II

 

THE
SECURITIES

 

Section 2.1     Issuable
in Series.

 

The aggregate principal
amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in
one or more Series. All Securities of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental
indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority granted under
a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’
Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution
may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest
shall accrue) are to be determined. Securities may differ between Series in respect of any matters; provided that all
Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

Section 2.2     Establishment
of Terms of Series of Securities.

 

At or prior to the
issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of
Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the
case of Subsections 2.2.2 through 2.2.22) by or pursuant to a Board Resolution, and set forth or determined
in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate pursuant to authority granted
under a Board Resolution:

 

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		2.2.1	the title of the Series (which shall distinguish the Securities of that particular Series from
the Securities of any other Series);

 

		2.2.2	the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities
of the Series will be issued;

 

		2.2.3	any limit upon the aggregate principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer
of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11,
3.6 or 9.6);

 

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

 

		2.2.5	the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used
to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial
index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any,
shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the
interest payable on any interest payment date; provided, however, that the method used to determine such rate or rates at which
the Securities of the Series shall bear interest must be acceptable to the Trustee;

 

		2.2.6	the place or places where the principal of and interest, if any, on the Securities of the Series shall
be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices
and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served, and the method
of such payment, if by wire transfer, mail or other means;

 

		2.2.7	if applicable, the period or periods within which, the price or prices at which and the terms and
conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Company;

 

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

 

		2.2.9	the dates, if any, on which and the price or prices at which the Securities of the Series will
be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

		2.2.10	if other than denominations of $1,000 and any integral multiple of $1,000 in excess thereof, the
denominations in which the Securities of the Series shall be issuable;

 

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		2.2.11	whether the Securities of the Series are to be issued in whole or in part in the form of one
or more Global Securities and, in such case, the Depositary for such Global Security or Global Securities, and the terms and conditions,
if any, upon which interests in such Global Security or Global Securities may be exchanged in whole or in part for the individual
securities represented thereby in definitive form registered in the name or names of Persons other than such Depositary or a nominee
or nominees thereof;

 

		2.2.12	if other than the principal amount thereof, the portion of the principal amount of the Securities
of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

 

		2.2.13	the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign
Currency, including, but not limited to, the ECU, and if such currency of denomination is a composite currency other than the ECU,
the agency or organization, if any, responsible for overseeing such composite currency;

 

		2.2.14	the designation of the currency, currencies or currency units in which payment of the principal
of and interest, if any, on the Securities of the Series will be made;

 

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

 

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

 

		2.2.17	the provisions, if any, relating to any security or guarantee provided for the Securities of the
Series, and any subordination in right of payment, if any, of the Securities of the Series;

 

		2.2.18	any addition to or change in the Events of Default which applies to any Securities of the Series and
any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due
and payable pursuant to Section 6.2;

 

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

 

		2.2.20	the terms and conditions, if any, for conversion of the Securities into or exchange of the Securities
for shares of common stock, preferred stock, other debt securities or warrants for common stock, preferred stock or other securities
of any kind of the Company that apply to Securities of the Series:

 

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		2.2.21	any other terms of the Securities of the Series (which may modify or delete any provision
of this Indenture insofar as it applies to such Series); and

 

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

 

All Securities of any
one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture,
if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to
above, and the authorized principal amount of any Series may not be increased to provide for issuances of additional Securities
of such Series, unless otherwise provided in such Board Resolution, supplemental indenture or Officers’ Certificate.

 

Section 2.3     Execution
and Authentication.

 

Two Officers shall
sign the Securities for the Company by manual, electronic or facsimile signature.

 

If an Officer whose
signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless
be valid.

 

A Security shall not
be valid until authenticated by the manual signature of the Trustee or an authenticating agent. The signature shall be conclusive
evidence that the Security has been authenticated under this Indenture.

 

The Trustee shall at
any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution,
supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order. Each Security shall
be dated the date of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate.

 

The aggregate principal
amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for
such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant
to Section 2.2, except as provided in Section 2.8.

 

Prior to the issuance
of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected
in relying on: (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form
of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or
of Securities within that Series, (b) an Officers’ Certificate complying with Section 11.4, and (c) an
Opinion of Counsel complying with Section 11.4.

 

The Trustee shall have
the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel,
determines that such action may not be taken lawfully; (b) if the Trustee in good faith shall determine that such action could
expose the Trustee to personal liability; or (c) if the Trustee determines that the terms of such Securities would adversely
affect it.

 

The Trustee may appoint
an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company.

 

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Section 2.4     Registrar
and Paying Agent.

 

The Company shall maintain,
with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2,
an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”),
where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”)
and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be
served (“Service Agent”). The Registrar shall keep a register with respect to each Series of Securities
and to their transfer and exchange. The Company will give prompt written notice to the Trustee of the name and address, and any
change in the name or address, of each Registrar, Paying Agent or Service Agent. If at any time the Company shall fail to maintain
any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with the name and address thereof,
such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the
Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands; provided,
however, that the Trustee shall not serve as an agent or officer for the purpose of service of process on behalf of the Company.

 

The Company may also
from time to time designate one or more co-registrars, additional paying agents or additional service agents and may from time
to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve
the Company of its obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.2
for Securities of any Series for such purposes. The Company will give prompt written notice to the Trustee of any such designation
or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service
agent. The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional
paying agent; and the term “Service Agent” includes any additional service agent.

 

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

 

Section 2.5     Paying
Agent to Hold Money in Trust.

 

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

 

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Section 2.6     Securityholder
Lists.

 

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

 

Section 2.7     Transfer
and Exchange.

 

Where Securities of
a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an
equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if the
requirements set forth in this Indenture and the Board Resolution, supplemental indenture hereto or Officers’ Certificate
applicable to such Series of Securities are met with respect to such transfer or exchange. To permit registrations of transfers
and exchanges, the Trustee shall authenticate Securities at the Registrar’s request. No service charge shall be made for
any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such
transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 

Neither the Company
nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for
the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of Securities
of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register
the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion
being redeemed of any such Securities selected, called or being called for redemption in part.

 

Notwithstanding anything
contained herein to the contrary, neither the Trustee nor the Registrar shall have any obligation or duty to monitor, determine
or inquire as to compliance with any restrictions on transfer imposed under this Indenture, any Board Resolution, any supplemental
indenture hereto, any Officers’ Certificate, any Securities or under applicable law with respect to any transfer of any interest
in any Securities other than to require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture or the Board Resolution, supplemental indenture
hereto or Officers’ Certificate applicable to such Series of Securities, and to examine the same to determine substantial
compliance as to form with the express requirements hereof or thereof.

 

Section 2.8     Mutilated,
Destroyed, Lost and Stolen Securities.

 

If any mutilated Security
is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in
exchange therefor a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

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

 

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In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead
of issuing a new Security, pay such Security.

 

Upon the issuance of
any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith.

 

Every new Security
of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable
by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities
of that Series duly issued hereunder.

 

The provisions of this
Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities.

 

Section 2.9     Outstanding
Securities.

 

Subject to Section 2.10,
the Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those
delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with
the provisions hereof and those described in this Section as not outstanding.

 

If a Security is replaced
pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced
Security is held by a bona fide purchaser.

 

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

 

Notwithstanding Section 2.10,
a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security.

 

In determining whether
the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such
purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a
declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

 

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Section 2.10     Treasury
Securities.

 

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

 

Upon request of the
Trustee, the Company shall promptly furnish to the Trustee an Officer’s Certificate listing and identifying all Securities,
if any, known by the Company to be owned or held by or for the account of the Company or an Affiliate of the Company, and the Trustee
shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact
that all Securities not listed therein are outstanding for the purpose of any such determination.

 

Section 2.11     Temporary
Securities.

 

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

 

Section 2.12     Cancellation.

 

The Company at any
time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any
Securities surrendered to them for registration of transfer, exchange or payment. Upon written request of an Officer, the Trustee
shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and deliver such canceled
Securities to the Company, unless the Company otherwise directs; provided that the Trustee shall not be required to destroy
Securities. The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

 

Section 2.13     Defaulted
Interest.

 

If the Company defaults
in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted
by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent
special record date. The Company shall fix the record date and payment date. At least 10 days before the record date, the Company
shall mail to the Trustee and to each Securityholder of the Series a notice that states the record date, the payment date
and the amount of interest to be paid. The Company may pay defaulted interest in any other lawful manner.

 

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Section 2.14     Global
Securities.

 

		2.14.1	Terms of Securities. A Board Resolution, a supplemental indenture hereto or an Officers’
Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more
Global Securities and the Depositary for such Global Security or Securities.

 

		2.14.2	Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.7
of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture
for Securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such
Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any
time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to
appoint a successor Depositary registered as a clearing agency under the Exchange Act within 90 days of such event, (ii) the
Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so
exchangeable or (iii) an Event of Default with respect to the Securities represented by such Global Security shall have happened
and be continuing. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities
registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount
of the Global Security with like tenor and terms.

 

Except as provided
in this Section 2.14.2, a Global Security may not be transferred except as a whole by the Depositary with respect to
such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of
such Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.

 

		2.14.3	Legend. Any Global Security issued hereunder shall bear a legend in substantially the following form:

 

“This Security
is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depositary
or a nominee of the Depositary. This Security is exchangeable for Securities registered in the name of a person other than the
Depositary or its nominee only in the limited circumstances described in the Indenture, and may not be transferred except as a
whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or another nominee of
the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such a successor Depositary.”

 

		2.14.4	Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take
any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give
or take under the Indenture.

 

		2.14.5	Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated
by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder
thereof.

 

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		2.14.6	Consents, Declaration and Directions. Except as provided in Section 2.14.5, the Company, the Trustee and
any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented
by a Global Security as shall be specified in a written statement of the Depositary with respect to such Global Security, for purposes
of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture.

 

		2.14.7	General Provisions for Book-Entry Securities. Members of, or participants in, the Depositary (“Participants”)
shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee
as its custodian, or under the Global Security, and the Depositary may be treated by the Company, the Trustee and any agent of
the Company or the Trustee as the absolute owner of the 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 impair, as between the Depositary and Participants,
the operation of customary practices governing the exercise of the rights of a Holder of any Global Security. All notices and communications
to be given to the Holders and all payments to be made to Holders in respect of the Global Securities shall be given or made only
to or upon the order of the registered Holders (which shall be the Depositary or its nominee). The rights of beneficial owners
in any Global Security shall be exercised only through the Depositary, subject to its applicable rules and procedures. The
Trustee, Registrar, Paying Agent and Service Agent may each rely and shall be fully protected in relying upon information furnished
by the Depositary with respect to its agent members and other members, participants and any beneficial owners.

 

Section 2.15     CUSIP
Numbers.

 

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

 

ARTICLE III

 

REDEMPTION

 

Section 3.1     Notice
to Trustee.

 

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

 

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The Company shall give
the notice at least 45 days, but not more than 60 days, before the redemption date (or such shorter notice as may be acceptable
to the Trustee).

 

Section 3.2     Selection
of Securities to be Redeemed or Repurchased.

 

Unless otherwise indicated
for a particular Series by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if less than all
the Securities of a Series are to be redeemed or repurchased, the Trustee shall select the Securities of the Series to
be redeemed or repurchased by lot or on a pro rata basis unless otherwise required by law, rules of the applicable Depositary
or applicable stock exchange requirements (provided that the Trustee is aware of the listing of the Securities on such stock exchange).

 

In the event of partial
redemption or purchase by lot, the Trustee shall make the selection from Securities of the Series outstanding not previously
called for redemption or repurchase. The Trustee may select for redemption or repurchase portions of the principal of Securities
of the Series that have denominations larger than $1,000. Securities of the Series and portions of them it selects shall
be in amounts of $1,000 or whole multiples of $1,000 in excess of $1,000 or, with respect to Securities of any Series issuable
in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and integral
multiples thereof. Provisions of this Indenture that apply to Securities of a Series called for redemption or repurchase also
apply to portions of Securities of that Series called for redemption or repurchase.

 

Section 3.3     Notice
of Redemption.

 

At least 30 days but
not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder
whose Securities are to be redeemed, except that redemption notices may be mailed more than 60 days prior to a redemption date
if the notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of this Indenture pursuant
to Articles 8 or 10 hereof.

 

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

 

(a)            the
redemption date;

 

(b)            the
redemption price;

 

(c)            the
name and address of the Paying Agent;

 

(d)            that
Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(e)            if
any Security is being redeemed in part, the portion of the principal amount of such Security to be redeemed and that, after the
redemption date upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion
will be issued upon cancellation of the original Security;

 

(f)            that
interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date;

 

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(g)            the
CUSIP number, if any; and

 

(h)            any
other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 

At the Company’s
request, the Trustee shall give the notice of redemption in the Company’s name and at its expense provided, however, that
the Company has delivered to the Trustee, at least 45 days prior to the redemption date (or such shorter period as the Trustee
in its sole discretion may allow), a written request by an Officer requesting that the Trustee give such notice and setting forth
the information to be stated in such notice as provided in the preceding paragraph.

 

Section 3.4     Effect
of Notice of Redemption.

 

Once notice of redemption
is mailed or published as provided in Section 3.3, Securities of a Series called for redemption become due and
payable on the redemption date and at the redemption price. A notice of redemption may not be conditional. Upon surrender to the
Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date; provided
that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such
Securities (or one or more predecessor Securities) registered at the close of business on the relevant record date therefor according
to their terms and the terms of this Indenture.

 

Section 3.5     Deposit
of Redemption Price.

 

One Business Day prior
to the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued
interest, if any, on all Securities to be redeemed on that date.

 

Section 3.6     Securities
Redeemed in Part.

 

Upon surrender of a
Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the
same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 

ARTICLE IV

 

COVENANTS

 

Section 4.1     Payment
of Principal and Interest.

 

The Company covenants
and agrees for the benefit of the Holders of each Series of Securities that it will pay or cause to be paid the principal
of, premium, if any, and interest on, the Securities of that Series on the dates and in the manner provided in such Securities.
Principal, premium, if any, and interest on any Series of Securities will be considered paid on the date due if the Paying
Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited
by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest
then due.

 

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Section 4.2     Maintenance
of Office or Agency.

 

The Company covenants
and agrees for the benefit of the Holders of each Series of Securities that it will maintain an office or agency (which may
be an office of the Trustee for such Securities or an affiliate of such Trustee, Registrar for such Securities or co-registrar)
where such Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon
the Company in respect of such Securities and this Indenture may be served. The Company will give prompt written notice to the
Trustee for such Securities of the location, and any change in the location, of such office or agency. If at any time the Company
fails to maintain any such required office or agency or fails to furnish such Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of such Trustee; provided, however,
that the Trustee shall not serve as an agent or officer for the purpose of service of process on behalf of the Company.

 

The Company may also
from time to time designate one or more other offices or agencies where Securities 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
will in any manner relieve the Company of its obligation described in the preceding paragraph. The Company will give prompt written
notice to the Trustee for such Series of Securities of any such designation or rescission and of any change in the location
of any such other office or agency.

 

With respect to each
Series of Securities, the Company hereby designates the Corporate Trust Office of the Trustee as one such office or agency
of the Company in accordance with Section 2.4 hereof.

 

Section 4.3     Reports.

 

The Company shall file
with the Trustee and the SEC, and transmit to Holders, such information, documents and other reports, and such summaries thereof,
as may be required pursuant to the TIA at the times and in the manner provided in the TIA; provided that, unless available
on EDGAR, any such information, documents or reports required to be filed with the SEC pursuant to Section 13 or 15(d) of
the Exchange Act shall be filed with the Trustee within 30 days after the same is filed with the SEC.

 

Delivery of such reports,
information and documents to the Trustee pursuant to this Section 4.3 is for informational purposes only, and the Trustee’s
receipt thereof shall not constitute actual or constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of its covenants under this Indenture (as to which the Trustee
is entitled to certificates). The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the
Company’s compliance with the covenants or with respect to any reports or other documents filed with the SEC or EDGAR or
any website under the indenture, or participate in any conference calls.

 

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Section 4.4     Compliance
Certificate.

 

(a)            The
Company and each guarantor of any Series of Securities (to the extent that such guarantor is so required under the TIA) shall
deliver to the Trustee with respect to such Series, within 90 days after the end of each fiscal year, an Officers’ Certificate
stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of
his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture
and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if
a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge
and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no
event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on
the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or
proposes to take with respect thereto.

 

(b)            So
long as any of Series of Securities are outstanding, the Company will deliver to the Trustee with respect to such Series,
forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default
or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

Section 4.5     Taxes.

 

The Company will pay,
and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies
except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse
in any material respect to the Holders of such Securities.

 

Section 4.6     Stay,
Extension and Usury Laws.

 

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

 

Section 4.7     Corporate
Existence.

 

Subject to Article V
hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect:

 

		(1)	its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries,
in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any
such Subsidiary; and

 

		(2)	the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries
provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership
or other existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not
adverse in any material respect to the Holders of such Securities.

 

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ARTICLE V

 

SUCCESSORS

 

Section 5.1     Merger,
Consolidation, or Sale of Assets.

 

The Company covenants
and agrees for the benefit of the Holders of each Series of Securities that it shall not, directly or indirectly: (i) consolidate
or merge with or into another person (whether or not the Company is the surviving corporation); or (ii) sell, assign, transfer,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as
a whole, in one or more related transactions, to another person, unless:

 

		(1)	either:

 

		(A)	the Company is the surviving corporation; or

 

		(B)	the person formed by or surviving any such consolidation or merger (if other than the Company)
or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation, partnership or limited
liability company organized or existing under the laws of the United States, any state of the United States or the District of
Columbia;

 

		(2)	the person formed by or surviving any such consolidation or merger (if other than the Company)
or the person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations
of the Company under such Securities and this Indenture pursuant to agreements in form reasonably satisfactory to the Trustee for
such Securities;

 

		(3)	immediately after such transaction, no Default or Event of Default exists; and

 

		(4)	the Company or such successor, transferee or lessee entity shall have delivered to the Trustee
and Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer
or lease complies with this Indenture and all conditions precedent thereto have been satisfied.

 

In addition, the Company
will not, directly or indirectly, lease all or substantially all of its properties or assets, in one or more related transactions,
to any other person. This Section 5.1 will not apply to:

 

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		(1)	a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company
in another jurisdiction or forming a direct holding company of the Company; or

 

		(2)	any sale, transfer, assignment, conveyance, lease or other disposition of assets between or among
the Company and its Subsidiaries, including by way of merger or consolidation.

 

Section 5.2     Successor
Corporation Substituted.

 

Upon any consolidation
or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties
or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section 5.01
hereof, the successor person formed by such consolidation or into or with which the Company is merged or to which such sale, assignment,
transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date
of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture
referring to the “Company” shall refer instead to the successor person and not to the Company), and may exercise
every right and power of the Company under this Indenture with the same effect as if such successor person had been named as the
Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal
of and interest on any Series of Securities except in the case of a sale of all of the Company’s assets in a transaction
that is subject to, and that complies with the provisions of, Section 5.1 hereof.

 

ARTICLE VI

 

DEFAULTS
AND REMEDIES

 

Section 6.1     Events
of Default.

 

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

 

(a)            default
in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default
for a period of 60 days; or

 

(b)            default
in payment when due of the principal of, or premium, if any, on any Security of that Series; or

 

(c)            default
in the deposit of any sinking fund payment, when and as due in respect of any Security of that Series; or

 

(d)            default
in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty that
has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default
continues uncured for a period of 90 days after written notice given by the Trustee for such Securities or Holders of such Securities;
or

 

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

 

		(i)	commences a voluntary case,

 

		(ii)	consents to the entry of an order for relief against it in an involuntary case,

 

		(iii)	consents to the appointment of a Custodian of it or for all or substantially all of its property,

 

		(iv)	makes a general assignment for the benefit of its creditors; or

 

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

 

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

 

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

 

		(iii)	orders the liquidation of the Company, and the order or decree remains unstayed and in effect for
90 days; or

 

(g)            any
other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, in accordance with Section 2.2.18.

 

The term “Bankruptcy
Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors. The term “Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

Section 6.2     Acceleration.

 

If an Event of Default
with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default
referred to in Section 6.1(e) or (f)) then in every such case the Trustee or the Holders of not less than
25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities
of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities)
of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by
a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount
(or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default
specified in Section 6.1(e) or (f) shall occur, the principal amount (or specified amount) of and
accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without
any declaration or other act on the part of the Trustee or any Holder.

 

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At any time after such
a declaration of acceleration with respect to any Series has been made, the Holders of a majority in principal amount of the
outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration
and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except
nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived.

 

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

 

Section 6.3     Other
Remedies.

 

If an Event of Default
with respect to Securities of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal, premium, if any, and interest on such Securities or to enforce the performance of any
provision of such Securities or this Indenture.

 

The Trustee for such
Securities may maintain a proceeding even if it does not possess any of such Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder of Securities in exercising any right or remedy accruing upon an Event
of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies
are cumulative to the extent permitted by law.

 

Section 6.4     Waiver
of Past Defaults.

 

Holders of not less
than a majority in aggregate principal amount of the then outstanding Securities of any Series by notice to the Trustee for
such Securities may on behalf of the Holders of all Securities of such Series waive an existing Default or Event of Default
with respect to the Securities of such Series and its consequences hereunder, except a continuing Default or Event of Default
in the payment of the principal of, premium, if any, or interest on, such Securities (including in connection with an offer to
purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Securities
of any Series may rescind an acceleration of the Securities of such Series and its consequences, including any related
payment default that resulted from such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or Event of Default or impair any right consequent thereon.

 

Section 6.5     Control
by Majority.

 

Holders of not less
than a majority in aggregate principal amount of the then outstanding Securities of any Series may direct the time, method
and place of conducting any proceeding for exercising any remedy available to the Trustee for such Securities or exercising any
trust or power conferred on it. However, the Trustee for any Series of Securities may refuse to follow any direction that
conflicts with law or this Indenture that such Trustee determines may be unduly prejudicial to the rights of other Holders of such
Securities or that may involve the Trustee in personal liability.

 

Section 6.6     Limitation
on Suits.

 

A Holder of any Series of
Securities may pursue a remedy with respect to this Indenture or such Securities only if:

 

		(1)	such Holder gives to the Trustee for such Securities written notice that an Event of Default is
continuing;

 

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		(2)	Holders of at least 25% in aggregate principal amount of the then outstanding Securities of such
Series make a written request to the Trustee for such Securities to pursue the remedy;

 

		(3)	such Holder or Holders offer and, if requested, provide to the Trustee for such Securities security
or indemnity satisfactory to such Trustee against any loss, liability or expense;

 

		(4)	such Trustee does not comply with the request within 60 days after receipt of the request and the
offer of security or indemnity; and

 

		(5)	during such 60-day period, Holders of a majority in aggregate principal amount of the then outstanding
Securities of such Series do not give such Trustee a direction inconsistent with such request.

 

A Holder of any Series of
Securities may not use this Indenture to prejudice the rights of another Holder of such Series of Securities or to obtain
a preference or priority over another Holder of a Securities of such Series.

 

Section 6.7     Rights
of Holders of Security to Receive Payment.

 

Notwithstanding any
other provision of this Indenture, the right of any Holder of a Security of any Series to receive payment of principal, premium,
if any, and interest on such Securities, on or after the respective due dates expressed in such Securities (including, if applicable,
in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

 

Section 6.8     Collection
Suit by Trustee.

 

If an Event of Default
specified in Section 6.1(a), (b) or (c) hereof with respect to Securities of any Series occurs
and is continuing, the Trustee for such Securities is authorized to recover judgment in its own name and as trustee of an express
trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on, such Securities
and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of such Trustee,
its agents and counsel.

 

Section 6.9     Trustee
May File Proofs of Claim.

 

The Trustee for each
Series of Securities is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable
in order to have the claims of such Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of such Trustee, its agents and counsel) and the Holders of the Securities for which it acts as trustee allowed in any
judicial proceedings relative to the Company (or any other obligor upon such Securities), its creditors or its property and shall
be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims
and any Custodian in any such judicial proceeding is hereby authorized by each Holder of such Securities to make such payments
to such Trustee, and in the event that such Trustee shall consent to the making of such payments directly to such Holders, to
pay to such Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of such Trustee,
its agents and counsel, and any other amounts due such Trustee under the Indenture. To the extent that the payment of any such
compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee
(including, without limitation, under Section 7.7 hereof) out of the estate in any such proceeding, shall be denied
for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends,
money, securities and other properties that such Holders may be entitled to receive in such proceeding whether in liquidation
or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize such Trustee
to authorize or consent to or accept or adopt on behalf of any Holder for which it acts as trustee any plan of reorganization,
arrangement, adjustment or composition affecting the Securities or the rights of such Holder, or to authorize such Trustee to
vote in respect of the claim of any such Holder in any such proceeding.

 

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Section 6.10     Priorities.

 

If the Trustee of any
Series of Securities collects any money pursuant to this Article 6, it shall pay out the money in the following order:

 

First: to the
Trustee, its agents and attorneys for amounts due under the Indenture, including payment of all reasonable compensation, expenses,
indemnities and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

Second: to Holders
of such Securities for amounts due and unpaid on such Securities for principal, premium, if any, and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on such Securities for principal, premium, if any
and interest, respectively; and

 

Third: to the
Company or to such party as a court of competent jurisdiction shall direct.

 

The Trustee may fix
a record date and payment date for any payment to Holders of Securities pursuant to this Section 6.10.

 

Section 6.11     Undertaking
for Costs.

 

In any suit for the
enforcement of any right or remedy under this Indenture or in any suit against any Trustee for any action taken or omitted by it
as a trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs
of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any
party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant.
This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Security pursuant to Section 6.7
hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Securities of any Series.

 

ARTICLE VII

 

TRUSTEE

 

Section 7.1     Duties
of Trustee.

 

(a)            If
an Event of Default with respect to any Series of Securities has occurred and is continuing, of which a Responsible Officer
of the Trustee has actual knowledge, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the
same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct
of such person’s own affairs.

 

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(b)            Except
during the continuance of an Event of Default of which a Responsible Officer of the Trustee has actual knowledge:

 

		(i)	The Trustee need perform only those duties that are specifically set forth in this Indenture and
no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee.

 

		(ii)	In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of
the statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel
furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officers’
Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the
Trustee shall examine such Officers’ Certificates and Opinions of Counsel to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein).

 

(c)            The
Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct,
except that:

 

		(i)	This paragraph does not limit the effect of paragraph (b) of this Section.

 

		(ii)	The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer,
unless it is proved that the Trustee was negligent in ascertaining the pertinent facts.

 

		(iii)	The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken
by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority
in principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture
with respect to the Securities of such Series.

 

(d)            Every
provision of this Indenture that in any way relates to the Trustee is subject to this Article VII.

 

(e)            The
Trustee may refuse to perform any duty or exercise any right or power at the request or direction of any Holder(s) unless
it receives indemnity satisfactory to it against any loss, liability or expense.

 

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(f)            The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(g)            No
provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance
of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk is not reasonably assured to it.

 

(h)            The
Paying Agent, the Registrar, the Service Agent and any authenticating agent shall be entitled to the same protections, indemnities
and immunities as are set forth in this Article VII with respect to the Trustee.

 

Section 7.2     Rights
of Trustee.

 

(a)            The
Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, judgment, bond, debenture, note, other evidence
of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper person.
The Trustee need not investigate any fact or matter stated in the document.

 

(b)            Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or Opinion of Counsel. The Trustee shall
not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate or Opinion
of Counsel.

 

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

 

(d)            The
Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within
its rights or powers; provided that the Trustee’s conduct does not constitute negligence or willful misconduct.

 

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

 

(f)            The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction
of any of the Holders of Securities unless such Holders shall have offered to the Trustee security or indemnity satisfactory to
it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction.

 

(g)            The
Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good
faith and in reliance thereon.

 

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(h)           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, judgment, bond, debenture, note, other evidence of indebtedness
or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit.

 

(i)            The
Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate
Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and
this Indenture.

 

(j)            In
no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon. The Trustee shall
have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity or
failure to provide timely written direction.

 

(k)           In
no event shall the Trustee be liable for special, indirect, incidental, punitive or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit), even if the Trustee has been advised of the likelihood of such loss or damage
and regardless of the form of action.

 

(l)            In
no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations under this Indenture
or any related documents because of circumstances arising out of or caused, directly or indirectly, by circumstances beyond the
Trustee’s control, including, but not limited to, a failure, termination, or suspension of a clearing house, securities depositary,
settlement system or central payment system in any applicable part of the world, acts of God, flood, wars (whether declared or
undeclared), civil or military disturbances or hostilities, nuclear or natural catastrophes, political unrest, explosion, severe
weather or accident, earthquake, terrorism, fire, riots, labor disturbances, sabotage, strikes or work stoppages for any reason,
embargo, government action, including any laws, ordinances, regulations or the like (whether domestic, federal, state, county or
municipal or foreign) which delay, restrict or prohibit the providing of the services contemplated by this Indenture or any related
documents, or the unavailability of communications or computer facilities, the failure of equipment or interruption of communications
or computer facilities, or the unavailability of the Federal Reserve Bank wire or telex or other wire or communication facility,
or any other causes beyond the Trustee’s control whether or not of the same class or kind as specified above.

 

(m)            Delivery
of reports and other financial information related to the Company to the Trustee is for informational purposes only and the Trustee’s
receipt of such shall not constitute actual or constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled
to rely conclusively on Officers’ Certificates).

 

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(n)            The
right of the Trustee to perform any discretionary act enumerated in this Indenture or any related document shall not be construed
as a duty.

 

(o)            The
Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

 

Section 7.3     Individual
Rights of Trustee.

 

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

 

Section 7.4     Trustee’s
Disclaimer.

 

The Trustee shall not
be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not
be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement
in the Securities other than its authentication.

 

Section 7.5     Notice
of Defaults.

 

If a Default or Event
of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer
of the Trustee, the Trustee shall mail to each Securityholder of the Securities of that Series notice of such Default or Event
of Default within 90 days after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default. Except
in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee
may withhold the notice if it in good faith determines that withholding the notice is in the interests of Securityholders of that
Series.

 

Section 7.6     Reports
by Trustee to Holders.

 

Within 60 days after
October 15 in each year, and for so long as any Securities remain outstanding, the Trustee shall transmit by mail to all Securityholders,
as their names and addresses appear on the register kept by the Registrar a brief report dated as of such October 15, in accordance
with, and to the extent required under, TIA § 313(a) (but if no event described in TIA §313(a) has occurred
within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA §313(b) and
transmit by mail all reports as required by TIA §313(c).

 

A copy of each report
at the time of its mailing to Securityholders of any Series shall be mailed by the Trustee to the Company and filed by the
Company with the SEC and each stock exchange on which the Securities of that Series are listed. The Company shall promptly
notify the Trustee when Securities of any Series are listed on any stock exchange.

 

Section 7.7     Compensation
and Indemnity.

 

The Company shall pay
to the Trustee from time to time compensation for its services hereunder as the Company and the Trustee shall from time to time
agree upon in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express
trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it in addition
to the compensation for its services. Such expenses shall include the reasonable compensation and expenses of the Trustee’s
agents and counsel.

 

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The Company shall indemnify
and hold harmless each of the Trustee, any predecessor Trustee (including the cost of defending itself) and each of their respective
officers, directors, employees, shareholders and agents (collectively, the “Indemnified Parties”) against any
loss, liability or expense (including attorneys’ fees), including taxes (other than taxes based upon, measured by or determined
by the income of the Trustee) as well as the costs of enforcement of its right to indemnity under this Section 7.7
incurred by such Indemnified Parties directly or indirectly arising out of or in connection with the acceptance or administration
of its duties under this Indenture as Trustee or Agent, whether asserted by the Company, the Holders or any third party; provided,
however, that the Company shall not be required to indemnify for any such loss, liability or expense resulting directly from
an Indemnified Party’s negligence or willful misconduct as determined by a final judgment issued by a court of competent
jurisdiction. An Indemnified Party shall notify the Company promptly of any claim for which it may seek indemnity; provided,
however, that failure by such Indemnified Party to so notify the Company shall not relieve the Company of its obligations hereunder.
The Company shall defend the claim and the Indemnified Party shall cooperate in the defense. Each Indemnified Party may have one
separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement
made without its consent, which consent shall not be unreasonably withheld or delayed.

 

To secure the Company’s
payment obligations in this Section 7.7, the Trustee shall have a lien prior to the Securities of any Series on
all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular
Securities of that Series.

 

When the Trustee incurs
expenses or renders services after an Event of Default specified in Section 6.1(e) or (f) occurs,
the expenses and the compensation for the services are intended to constitute administrative expenses for purposes of priority
under any Bankruptcy Law.

 

The provisions of this
Section 7.7 shall survive the termination of this Indenture or the earlier resignation or removal of the Trustee.

 

Section 7.8     Replacement
of Trustee.

 

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

 

The Trustee may resign
with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the
proposed resignation. The Holders of a majority in aggregate principal amount of the Securities of any Series may remove the
Trustee with respect to that Series by so notifying the Trustee and the Company at least 30 days prior to the requested date
of removal. The Company may remove the Trustee with respect to Securities of one or more Series if:

 

(a)            the
Trustee fails to comply with Section 7.10;

 

(b)            the
Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy
Law;

 

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(c)            a
Custodian or public officer takes charge of the Trustee or its property; or

 

(d)            the
Trustee becomes incapable of acting.

 

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

 

If a successor Trustee
with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee (at the Company’s expense), the Company or the Holders of at least 10% in aggregate principal
amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of
a successor Trustee.

 

A successor Trustee
shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Upon payment of all amounts owing
to retiring Trustee hereunder, the retiring Trustee shall immediately transfer all property held by it as Trustee to the successor
Trustee subject to the lien provided for in Section 7.7, and the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of
Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a notice of its succession to
each Securityholder of each such Series. Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the
Company’s obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect
to expenses and liabilities incurred by it prior to such replacement.

 

Section 7.9     Successor
Trustee by Merger, etc.

 

If the Trustee consolidates
with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the
successor corporation without any further act shall be the successor Trustee.

 

Section 7.10     Eligibility;
Disqualification.

 

This Indenture shall
always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee shall always have
a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. The
Trustee shall comply with TIA § 310(b).

 

Section 7.11     Preferential
Collection of Claims Against Company.

 

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

 

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ARTICLE VIII

 

LEGAL
DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.1            Option
to Effect Legal Defeasance or Covenant Defeasance.

 

The Company may at
any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect
to have either Section 8.2 or 8.3 hereof be applied to all outstanding Securities of any Series upon compliance
with the conditions set forth below in this Article 8.

 

Section 8.2            Legal
Defeasance and Discharge.

 

Upon the Company’s
exercise under Section 8.1 hereof of the option applicable to this Section 8.2, the Company and each guarantor,
if any, of such Securities will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be
deemed to have been discharged from its or their obligations with respect to all outstanding Securities of such Series (including
the related guarantees, if any) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Company and such guarantors, if any, will be deemed to have paid and discharged
the entire Indebtedness represented by the outstanding Securities of such Series (including the related guarantees, if any),
which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.5 hereof and the
other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all its or their
other obligations under such Securities, such guarantees, if any, and this Indenture (and the Trustee for such Securities, on
demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following
provisions which will survive until otherwise terminated or discharged hereunder:

 

		(1)	the rights of Holders of outstanding
                                         Securities of such Series to receive payments in respect of the principal of, or
                                         interest or premium, if any, on, such Securities when such payments are due from the
                                         trust referred to in Section 8.4 hereof;

 

		(2)	the Company’s obligations
                                         with respect to such Securities under Article 2 and Section 4.2 hereof;

 

		(3)	the rights, powers, trusts, duties,
                                         indemnities and immunities of the Trustee for such Securities hereunder and the Company’s
                                         and the guarantors’, if any, obligations in connection therewith; and

 

		(4)	this Article 8.

 

Subject to compliance
with this Article 8, the Company may exercise its option under this Section 8.2 notwithstanding the prior exercise
of its option under Section 8.3 hereof.

 

Section 8.3            Covenant
Defeasance.

 

Upon the Company’s
exercise under Section 8.1 hereof of the option applicable to this Section 8.3, the Company and each of
the guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released
from each of their or its obligations under the covenants specified in a Board Resolution, a supplemental indenture hereto or
an Officers’ Certificate, in accordance with Section 2.2.18, with respect to the outstanding Securities of the
applicable Series on and after the date the conditions set forth in Section 8.4 hereof are satisfied (hereinafter,
 “Covenant Defeasance”), and such Securities will thereafter be deemed not “outstanding” for the
purposes of any direction, waiver, consent or declaration or act of Holders of such Securities (and the consequences of any thereof)
in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Securities will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance
means that, with respect to the outstanding Securities of such Series, the Company may omit to comply with and will have no liability
in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein
or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.1
hereof, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected thereby. In
addition, upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3,
subject to the satisfaction of the conditions set forth in Section 8.4 hereof, Sections 6.1(d) through
(f) hereof will not constitute Events of Default.

 

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Section 8.4            Conditions
to Legal or Covenant Defeasance.

 

In order to exercise
either Legal Defeasance or Covenant Defeasance under either Section 8.2 or 8.3 hereof with respect to Securities
of any Series:

 

		(1)	the Company must irrevocably deposit
                                         with the Trustee for such Securities, in trust, for the benefit of the Holders of such
                                         Securities, cash in U.S. dollars, non-callable Government Securities, or a combination
                                         thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
                                         investment bank, appraisal firm, or firm of independent public accountants, to pay the
                                         principal of, premium, if any, and interest on, the outstanding Securities of such Series on
                                         the stated date for payment thereof or on the applicable redemption date, as the case
                                         may be, and the Company must specify whether such Securities are being defeased to such
                                         stated date for payment or to a particular redemption date;

 

		(2)	in the case of an election under
                                         Section 8.2 hereof, the Company must deliver to the Trustee for such Securities
                                         an Opinion of Counsel confirming that:

 

		(A)	the Company has received from, or
                                         there has been published by, the Internal Revenue Service a ruling; or

 

		(B)	since the date of this Indenture,
                                         there has been a change in the applicable federal income tax law, in either case to the
                                         effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders
                                         of the outstanding Securities of such Series will not recognize income, gain or
                                         loss for federal income tax purposes as a result of such Legal Defeasance and will be
                                         subject to federal income tax on the same amounts, in the same manner and at the same
                                         times as would have been the case if such Legal Defeasance had not occurred;

 

    34 

     

    

 

		(3)	in the case of an election under
                                         Section 8.3 hereof, the Company must deliver to the Trustee for such Securities
                                         an Opinion of Counsel confirming that the Holders of such Securities will not recognize
                                         income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance
                                         and will be subject to federal income tax on the same amounts, in the same manner and
                                         at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

		(4)	no Default or Event of Default
                                         with respect to such Securities shall have occurred and be continuing on the date of
                                         such deposit (other than a Default or Event of Default resulting from the borrowing of
                                         funds to be applied to such deposit);

 

		(5)	such Legal Defeasance or Covenant
                                         Defeasance will not result in a breach or violation of, or constitute a default under,
                                         any material agreement or instrument (other than this Indenture) to which the Company
                                         or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries
                                         is bound;

 

		(6)	the Company must deliver to the
                                         Trustee for such Securities an Officers’ Certificate stating that the deposit was
                                         not made by the Company with the intent of preferring the Holders of such Securities
                                         over the other creditors of the Company with the intent of defeating, hindering, delaying
                                         or defrauding any creditors of the Company or others; and

 

		(7)	the Company must deliver to the
                                         Trustee for such Securities an Officers’ Certificate and an Opinion of Counsel,
                                         each stating that all conditions precedent relating to the Legal Defeasance or the Covenant
                                         Defeasance have been complied with.

 

Section 8.5            Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

 

Subject to Section 8.6
hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section 8.5, the “Trustee”) pursuant to Section 8.4
hereof in respect of the outstanding Securities of any Series will 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 Paying Agent (including
the Company acting as 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, premium, if any, and interest, but such money need not be segregated from other funds except
to the extent required by law.

 

    35 

     

    

 

The Company will pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government
Securities deposited pursuant to Section 8.4 hereof or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Securities of the applicable
Series.

 

Notwithstanding anything
in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of the
Company any money or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof), are in excess of the amount
thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.6            Repayment
to Company.

 

Subject to applicable
law, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal
of, premium, if any, or interest on, any Series of Securities and remaining unclaimed for two years after such principal,
premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company)
will be discharged from such trust; and the Holders of such Securities will thereafter be permitted to look only to the Company
for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability
of the Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before
being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times
and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein,
which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

 

Section 8.7            Reinstatement.

 

If the Trustee or
Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with Section 8.2
or 8.3 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Company’s and any applicable guarantors’ obligations
under this Indenture and the applicable Securities and the guarantees will be revived and reinstated as though no deposit had
occurred pursuant to Section 8.2 or 8.3 hereof until such time as the Trustee or Paying Agent is permitted
to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be; provided, however,
that, if the Company makes any payment of principal of, premium, if any, or interest on, any such Securities following the reinstatement
of its obligations, the Company will be subrogated to the rights of the Holders of such Securities to receive such payment from
the money held by the Trustee or Paying Agent.

 

    36 

     

    

 

ARTICLE IX

 

AMENDMENTS
AND WAIVERS

 

Section 9.1            Without
Consent of Holders.

 

Notwithstanding Section 9.2
of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Securities of one or more Series without
the consent of any Securityholder:

 

(a)           to
cure any ambiguity, defect or inconsistency or to conform the terms hereof, as amended and supplemented, that are applicable to
the Securities of any Series to the description of the terms of such Securities in the offering memorandum, prospectus supplement
or other offering document applicable to such Securities at the time of initial sale thereof;

 

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

 

(c)           to
provide for the assumption of the Company’s obligations to the Holders of the Securities by a successor to the Company pursuant
to Article 5 hereof;

 

(d)           to
make any change that would provide any additional rights or benefits to the Holders of Securities or that does not adversely affect
the legal rights hereunder of any Securityholder;

 

(e)           to
comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA;

 

(f)            to
add to or change or eliminate any provision of this Indenture as shall be necessary or desirable in accordance with any amendments
to the Trust Indenture Act;

 

(g)           to
provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this
Indenture;

 

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

 

(i)            to
add guarantors or co-obligors with respect to any Series of Securities or to release guarantors of Securities in accordance
with the terms of the applicable Series of Securities.

 

Upon the request of
the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon receipt by the Trustee of the documents described in Section 9.7 and 11.4 hereof, the Trustee
will join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this
Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will
not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under
this Indenture or otherwise.

 

    37 

     

    

 

Section 9.2            With
Consent of Holders.

 

Subject to Section 9.3,
the Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority
in aggregate principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including
consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture
or of modifying in any manner the rights of the Securityholders of each such Series. Except as provided in Section 9.3,
the Holders of at least a majority in aggregate principal amount of the outstanding Securities of each Series by notice to
the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series)
may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.

 

It shall not be necessary
for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed
supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof. Upon the request
of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental
indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Securities
as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.7 hereof, the Trustee will join
with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may
in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.

 

After a supplemental
indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby
a notice briefly describing the supplemental indenture or waiver. Any failure by the Company to mail such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

Section 9.3            Limitations.

 

Without the consent
of each Securityholder affected, an amendment or waiver may not (with respect to any Securities held by a non-consenting Holder):

 

(a)           change
the amount of Securities whose Holders must consent to an amendment, supplement or waiver;

 

(b)           reduce
the rate of or extend the time for payment of interest (including default interest) on any Security;

 

(c)           reduce
the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment
of any sinking fund or analogous obligation;

 

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

 

    38 

     

    

 

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

 

(f)            make
the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

 

(g)           make
any change in Sections 6.4 or 9.3 (this sentence); or

 

(h)           waive
a redemption payment with respect to any Security or change any of the provisions with respect to the redemption of any Securities,
except as specifically set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered
pursuant to Section 2.2.

 

Section 9.4            Compliance
with Trust Indenture Act.

 

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

 

Section 9.5            Revocation
and Effect of Consents.

 

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

 

Any amendment or waiver
once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type
described in any of clauses (a) through (h) of Section 9.3. In that case, the amendment
or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of
a Security that evidences the same debt as the consenting Holder’s Security.

 

Section 9.6            Notation
on or Exchange of Securities.

 

The Company or the
Trustee, at the direction of the Company, may place an appropriate notation about an amendment or waiver on any Security of any
Series thereafter authenticated. The Company in exchange for Securities of that Series may issue and the Trustee shall
authenticate upon request new Securities of that Series that reflect the amendment or waiver.

 

Section 9.7            Trustee
Protected.

 

In executing, or accepting
the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the
trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 7.1) shall be
fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel each stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent thereto have been satisfied.
The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely
affects its rights, duties, liabilities, indemnities or immunities.

 

    39 

     

    

 

ARTICLE X

 

SATISFACTION
AND DISCHARGE

 

Section 10.1          Satisfaction
and Discharge.

 

This Indenture will
be discharged and will cease to be of further effect as to a Series of Securities issued hereunder, when:

 

(a)           either:

 

		(i)	all such Securities that have been
                                         authenticated, except lost, stolen or destroyed Securities that have been replaced or
                                         paid and Securities for whose payment money has theretofore been deposited in trust and
                                         thereafter repaid to the Company, have been delivered to the Trustee for cancellation;
                                         or

 

		(ii)	all such Securities that have not
                                         been delivered to the Trustee for cancellation have become due and payable by reason
                                         of the distribution of a notice of redemption or otherwise or will become due and payable
                                         within one year and the Company has irrevocably deposited or caused to be deposited with
                                         the Trustee as trust funds in trust solely for the benefit of the Holders of such Securities,
                                         cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in
                                         such amounts as will be sufficient, without consideration of any reinvestment of interest,
                                         to pay and discharge the entire Indebtedness on such Securities not delivered to the
                                         Trustee for cancellation for principal, premium, if any, and accrued interest to the
                                         date of maturity or redemption;

 

(b)           no
Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default
resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation
of, or constitute a default under, any other instrument to which the Company or any guarantor, as applicable, of such Securities
is a party or by which the Company or any such guarantor, as applicable, is bound;

 

(c)           the
Company or any guarantor of such Securities has paid or caused to be paid all sums payable by it under this Indenture; and

 

(d)           the
Company has delivered irrevocable instructions to the Trustee for such Securities under this Indenture to apply the deposited
money toward the payment of such Securities at maturity or on the redemption date, as the case may be.

 

In addition, the Company
must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee for such Securities stating that all conditions
precedent to satisfaction and discharge have been satisfied.

 

Notwithstanding the
satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of
this Section 10.1, the provisions of Sections 10.2 and 8.6 hereof will survive. In addition, nothing
in this Section 10.1 will be deemed to discharge those provisions of Section 7.7 hereof, that, by their
terms, survive the satisfaction and discharge of this Indenture.

 

    40 

     

    

 

Section 10.2          Application
of Trust Money.

 

Subject to the provisions
of Section 8.6 hereof, all money deposited with a Trustee pursuant to Section 10.1 hereof shall be held
in trust and applied by it, in accordance with the provisions of the Securities with respect to which such deposit was made and
this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as such Trustee may determine, to the persons entitled thereto, of the principal (and premium, if any) and interest for whose
payment such money has been deposited with such Trustee; but such money need not be segregated from other funds except to the
extent required by law.

 

ARTICLE XI

 

MISCELLANEOUS

 

Section 11.1          Trust
Indenture Act Controls.

 

This Indenture is
hereby made subject to, and shall be governed by, the provisions of the TIA required or deemed to be part of and to govern indentures
qualified under the TIA. If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required
or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 11.2          Notices.

 

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

 

if to the Company:

 

Flagstar Bancorp, Inc.

5151 Corporate Drive

Troy, MI 48098

Attention: Chief Financial Officer

Telephone: (248) 312-2000

 

if to the Trustee:

 

Wilmington Trust, National Association

Rodney Square North 1100 North Market Street

Wilmington, DE 19890-0001

Attention: Flagstar Bancorp, Inc., Administrator

Telephone: (302) 636-6398

 

The Company or the
Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 

    41 

     

    

 

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

 

If a notice or communication
is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Securityholder
receives it.

 

Notwithstanding any
other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event (including
any notice of redemption) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given
when delivered to the Depositary for such Security (or its designee) pursuant to the customary procedures of such Depositary.

 

If the Company mails
a notice or communication to Securityholders, it shall mail a copy to the Trustee and each Agent at the same time.

 

Section 11.3          Communication
by Holders with Other Holders.

 

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

 

Section 11.4          Certificate
and Opinion as to Conditions Precedent.

 

Upon any request or
application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:

 

(a)           an
Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with; and

 

(b)           an
Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with.

 

Section 11.5          Statements
Required in Certificate or Opinion.

 

Each certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided
pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:

 

(a)           a
statement that the person making such certificate or opinion has read such covenant or condition;

 

(b)           a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based;

 

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

 

    42 

     

    

 

(d)           a
statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 

Section 11.6          Rules by
Trustee and Agents.

 

The Trustee may make
reasonable rules for action by or a meeting of Securityholders of one or more Series. Any Agent may make reasonable rules and
set reasonable requirements for its functions.

 

Section 11.7          Legal
Holidays.

 

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

 

Section 11.8          No
Recourse Against Others.

 

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

 

Section 11.9          Counterparts.

 

This Indenture may
be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute one and the same agreement. Unless otherwise provided
herein or in any other Securities, the words “ execute”, “ execution”, “ signed”, and “
signature” and words of similar import used in or related to any document to be signed in connection with this Indenture,
any other Securities or any of the transactions contemplated hereby (including amendments, waivers, consents and other modifications)
shall be deemed to include electronic signatures and the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature in ink or the use of a paper-based recordkeeping
system, as applicable, to the fullest extent and as provided for in any Applicable Law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, and any other similar state laws
based on the Uniform Electronic Transactions Act, provided that, notwithstanding anything herein to the contrary, the Trustee
is not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by
such Trustee pursuant to procedures approved by such Trustee. If the Person whose signature is on a Security no longer holds that
office at the time the Security is authenticated and delivered, the Security shall nevertheless be valid.

 

Section 11.10        Governing
Laws; Jurisdiction; Waiver of Jury Trial.

 

THE INTERNAL LAW
OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE SECURITIES AND ANY GUARANTEES OF THE SECURITIES
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION
WOULD BE REQUIRED THEREBY.

 

    43 

     

    

 

The parties hereby
(i) irrevocably submit to the non-exclusive jurisdiction of any federal or state court sitting in the Borough of Manhattan,
the city of New York, (ii) waive any objection to laying of venue in any such action or proceeding in such courts, and (iii) waive
any objection that such courts are an inconvenient forum or do not have jurisdiction over any party.

 

Each of the parties
hereto hereby waives the right to trial by jury with respect to any litigation directly or indirectly arising out of, under or
in connection with this Indenture.

 

Section 11.11        No
Adverse Interpretation of Other Agreements.

 

This Indenture may
not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company. Any such indenture,
loan or debt agreement may not be used to interpret this Indenture.

 

Section 11.12        Successors.

 

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

 

Section 11.13        Severability.

 

In case any provision
in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby. This Indenture, any supplemental indenture hereto
and the exhibits hereto or thereto set forth the entire agreement and understanding of the parties related to this transaction
and supersedes all prior agreements and understandings, oral or written.

 

Section 11.14        Table
of Contents, Headings, Etc.

 

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

 

ARTICLE XII

 

SINKING
FUNDS

 

Section 12.1          Applicability
of Article.

 

The provisions of
this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series, except as otherwise
permitted or required by any form of Security of such Series issued pursuant to this Indenture.

 

The minimum amount
of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory
sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred
to as an “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the cash amount
of any sinking fund payment may be subject to reduction as provided in Section 12.2. Each sinking fund payment shall
be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

 

    44 

     

    

 

Section 12.2          Satisfaction
of Sinking Fund Payments with Securities.

 

The Company may, in
satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant
to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment
is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as
credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the
Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant
to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions
pursuant to the terms of such Securities; provided that such Securities have not been previously so credited. Such Securities
shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than 15 days prior
to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose
by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of
such sinking fund payment shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash
payments pursuant to this Section 12.2, the principal amount of Securities of such Series to be redeemed in order
to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for
redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee
or a Paying Agent and applied to the next succeeding sinking fund payment; provided, however, that the Trustee or such
Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being
held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased
by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company.

 

Section 12.3          Redemption
of Securities for Sinking Fund.

 

Not less than 45 days
(unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect of a particular
Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver
to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that
Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and
the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to
Section 12.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment,
and the Company shall thereupon be obligated to pay the amount therein specified.

 

Not less than 30 days
(unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular
Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof to
be given in the name of and at the expense of the Company in the manner provided in Section 3.3. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4,
3.5 and 3.6.

 

    45 

     

    

 

Section 12.4          Compliance
with Applicable Anti-Terrorism and Anti-Money Laundering Regulations.

 

In order to comply
with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those
relating to the funding of terrorist activities and money laundering (“Relevant Law”), the Trustee is required
to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with
the Trustee. Accordingly, each of the parties agrees to provide to the Trustee upon its request from time to time such identifying
information and documentation as may be available for such party in order to enable the Trustee to comply with Relevant Law.

 

[Signatures on following page]

 

    46 

     

    

 

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

	 
	 	FLAGSTAR BANCORP, INC.

 

	 	By:	/s/
    James K. Ciroli 
	 	 	Name:	James K. Ciroli
	 	 	Title:	Executive Vice President and
	 	 	 	Chief Financial Officer

 

[Signature Page to Indenture]

 

    

     

    

 

	 	WILMINGTON TRUST, NATIONAL
    ASSOCIATION, as Trustee
	 	 
	 	By:	/s/ Michael Wass
	 	 	Name:	Michael Wass
	 	 	Title:	Vice President

 

[Signature Page to Indenture]Exhibit 4.2

 

 

 

 

 

 

 

 

 

FIRST SUPPLEMENTAL INDENTURE

 

between

 

FLAGSTAR BANCORP, INC.

 

AND

 

WILMINGTON TRUST, NATIONAL ASSOCIATION

 

DATED AS OF OCTOBER 28, 2020

 

First Supplement to Indenture dated as of
October 28, 2020

 

 

 

    

    

    

 

FIRST SUPPLEMENTAL INDENTURE, dated as of
October 28, 2020 (this “Supplemental Indenture”), between FLAGSTAR BANCORP, INC., a Michigan corporation
(the “Company”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company and the Trustee have
entered into an Indenture dated as of October 28, 2020 (the “Base Indenture” and, as supplemented by this
Supplemental Indenture, the “Indenture”), providing for the issuance by the Company from time to time of its
debt securities;

 

WHEREAS, Section 9.1(g) of the
Base Indenture provides that the Company and the Trustee may, without the consent of any Holder, enter into a supplemental indenture
to provide for the issuance of and establish the form and terms and conditions of Securities of any series as permitted by the
Base Indenture;

 

WHEREAS, the Company desires to provide
for the establishment of a new series of Securities pursuant to Sections 2.1 and 2.2 of the Base Indenture, the form and substance
of such Securities and terms, provisions and conditions thereof to be set forth as provided in the Indenture;

 

WHEREAS, the Company deems it advisable
to enter into this Supplemental Indenture for the purposes of establishing the terms and conditions of such Securities and providing
for the rights, obligations and duties of the Trustee with respect to such Securities;

 

WHEREAS, the execution and delivery of this
Supplemental Indenture has been authorized by a resolution of the Board of Directors of the Company;

 

WHEREAS, the Company has requested that
the Trustee execute and deliver this Supplemental Indenture; and

 

WHEREAS, all acts and things necessary have
been done and performed to make this Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery
of this Supplemental Indenture has been duly authorized in all respects.

 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE
WITNESSETH: For and in consideration of the premises and the purchase of the Notes (as defined herein) by the Holders thereof,
the Company and the Trustee covenant and agree, for the equal and proportionate benefit of all Holders of the Notes, as follows:

 

ARTICLE One

 

SCOPE
OF SUPPLEMENTAL INDENTURE

 

This Supplemental Indenture constitutes
a supplement to the Base Indenture and an integral part of the Indenture and shall be read together with the Base Indenture as
though all the provisions thereof are contained in one instrument. Except as expressly amended by this Supplemental Indenture,
the terms and provisions of the Base Indenture shall remain in full force and effect. Notwithstanding the foregoing, this Supplemental
Indenture shall only apply to the Notes.

 

    

    

    

 

ARTICLE Two

 

DEFINITIONS

 

Section 2.1      Definitions
and Other Provisions of General Application. For all purposes of this Supplemental Indenture unless otherwise specified herein:

 

(a)     all
terms used in this Supplemental Indenture which are not otherwise defined herein shall have the meanings they are given in the
Base Indenture and include the plural as well as the singular;

 

(b)     the
provisions of general application stated in Sections 11.1 through 11.14 of the Base Indenture shall apply to this Supplemental
Indenture, except that the words “herein,” “hereof,” “hereto” and “hereunder” and
other words of similar import refer to this Supplemental Indenture as a whole and not to the Base Indenture or any particular Article,
Section or other subdivision of the Base Indenture or this Supplemental Indenture; and

 

(c)     Section 1.1
of the Base Indenture is amended and supplemented, solely with respect to the Notes, by inserting the following additional defined
terms in their appropriate alphabetical positions:

 

“Act” means any request,
demand, authorization, direction, notice, consent, waiver or other action provided or permitted by the Indenture to be given, made
or taken by Holders, which 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; such action shall become effective when such instrument or instruments
are delivered to the Trustee and, where it is hereby expressly required, to the Company.

 

“Administrative or Judicial Action”
has the meaning provided in the definition of “Tax Event.”

 

“Benchmark” means, initially,
Three-Month Term SOFR; provided that if the Calculation Agent determines on or prior to the Reference Time that a Benchmark Transition
Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR or the then-current Benchmark,
then “Benchmark” means the applicable Benchmark Replacement.

 

“Benchmark Replacement”
means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark Replacement Adjustment for such
Benchmark; provided that if  (a) the Calculation Agent cannot determine the Interpolated Benchmark as of the Benchmark
Replacement Date or (b) the then-current Benchmark is Three-Month Term SOFR and a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR (in which event no Interpolated Benchmark with respect
to Three-Month Term SOFR shall be determined), then “Benchmark Replacement” means the first alternative set
forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement Date:

 

    2

    

    

 

(1)     Compounded
SOFR;

 

(2)     the
sum of: (a) the alternate rate that has been selected or recommended by the Relevant Governmental Body as the replacement
for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment;

 

(3)     the
sum of: (a) the ISDA Fallback Rate, and (b) the Benchmark Replacement Adjustment; or

 

(4)     the
sum of: (a) the alternate rate that has been selected by the Calculation Agent as the replacement for the then-current Benchmark
for the applicable Corresponding Tenor, giving due consideration to any industry-accepted rate as a replacement for the then-current
Benchmark for U.S. Dollar-denominated floating rate securities at such time, and (b) the Benchmark Replacement Adjustment.

 

“Benchmark Replacement Adjustment”
means the first alternative set forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement
Date:

 

(1)     the
spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or
zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;

 

(2)     if
the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA Fallback Adjustment; and

 

(3)     the
spread adjustment (which may be a positive or negative value or zero) that has been selected by the Calculation Agent giving due
consideration to any industry-accepted spread adjustment or method for calculating or determining such spread adjustment, for the
replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. Dollar-denominated floating
rate securities at such time.

 

“Benchmark Replacement Conforming
Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including
changes to the definition of  “interest period,” timing and frequency of determining rates with respect to each
interest period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation
Agent decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with
market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively
feasible or if the Calculation Agent determines that no market practice for use of the Benchmark Replacement exists, in such other
manner as the Calculation Agent determines is reasonably necessary).

 

    3

    

    

 

“Benchmark Replacement Date”
means the earliest to occur of the following events with respect to the then-current Benchmark:

 

(1)     in
the case of clause (1) of the definition of  “Benchmark Transition Event,” the relevant Reference
Time in respect of any determination;

 

(2)     in
the case of clause (2) or (3) of the definition of “Benchmark Transition Event,” the later of (a) the
date of the public statement or publication of information referenced therein and (b) the date on which the administrator
of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

 

(3)     in
the case of clause (4) of the definition of  “Benchmark Transition Event,” the date of the public statement
or publication of information referenced therein.

 

For the avoidance of doubt, for purposes
of the definitions of Benchmark Replacement Date and Benchmark Transition Event, references to the Benchmark also include any reference
rate underlying the Benchmark (for example, if the Benchmark becomes Compounded SOFR, references to the Benchmark would include
SOFR).

 

For the avoidance of doubt, if the event
giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any
determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

 

“Benchmark Transition Event”
means the occurrence of one or more of the following events with respect to the then-current Benchmark:

 

(1)     if
the Benchmark is Three-Month Term SOFR, (a) the Relevant Governmental Body has not selected or recommended a forward-looking
term rate for a tenor of three months based on SOFR, (b) the development of a forward-looking term rate for a tenor of three
months based on SOFR that has been recommended or selected by the Relevant Governmental Body is not complete or (c) the Company
determines that the use of a forward-looking rate for a tenor of three months based on SOFR is not administratively feasible;

 

(2)     a
public statement or publication of information by or on behalf of the administrator of the Benchmark announcing that such administrator
has ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of such statement or
publication, there is no successor administrator that will continue to provide the Benchmark;

 

(3)     a
public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark, the central
bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution
authority with jurisdiction over the administrator for the Benchmark or a court or an entity with similar insolvency or resolution
authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease
to provide the Benchmark permanently or indefinitely, provided that, at the time of such statement or publication, there is no
successor administrator that will continue to provide the Benchmark; or

 

    4

    

    

 

(4)     a
public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that
the Benchmark is no longer representative.

 

“Benchmark Transition Provisions”
means the provisions set forth in Section 3.4(f) of the Supplemental Indenture.

 

“Calculation Agent” means
the agent appointed by the Company prior to the commencement of the Floating Rate Period (which may include the Company or any
of its Affiliates) to act in accordance with Section 3.4 of the Supplemental Indenture. The Company intends to Act as the
initial Calculation Agent.

 

“Compounded SOFR” means
the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions
for this rate being established by the Calculation Agent in accordance with:

 

(1)     the
rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant Governmental Body for
determining Compounded SOFR; provided that:

 

(2)     if,
and to the extent that, the Calculation Agent determines that Compounded SOFR cannot be determined in accordance with clause (1) above,
then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Calculation Agent giving
due consideration to any industry-accepted market practice for U.S. Dollar-denominated floating rate securities at such time.

 

For the avoidance of doubt, the calculation
of Compounded SOFR shall exclude the Benchmark Replacement Adjustment (if applicable) and the spread of 391 basis points per annum.

 

“Corresponding Tenor”
with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding
business day adjustment) as the applicable tenor for the then-current Benchmark.

 

“Currency” mean U.S.
Dollars or Foreign Currency.

 

“Discharged” means that
the Company shall be deemed to have paid and discharged the entire Indebtedness represented by, and obligations under, the Notes
and to have satisfied all the obligations under the Indenture relating to the Notes (and the Trustee, at the expense and request
of the Company, shall execute proper instruments acknowledging the same), except (A) the rights of Holders of Notes to receive,
from the trust fund described in Section 8.4(a) of the Base Indenture, payment of the principal of and premium, if any,
and interest on such Notes when such payments are due, (B) the Company’s obligations with respect to the Notes under
Sections 2.7, 2.8, 2.11, 4.2, 7.7, 8.9 and 8.10 of the Base Indenture and (C) the rights, powers, trusts, duties and immunities
of the Trustee under the Indenture.

 

    5

    

    

 

“Federal Reserve” means
the Board of Governors of the Federal Reserve System.

 

“Federal Reserve Bank of New York’s
Website” means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or any successor source.

 

“Fixed Rate Interest Payment Date”
has the meaning provided in Section 3.4(a).

 

“Fixed Rate Period” has
the meaning provided in Section 3.4(a).

 

“Fixed Rate Regular Record Date”
has the meaning provided in Section 3.4(a).

 

“Floating Rate Interest Payment
Date” has the meaning provided in Section 3.4(b).

 

“Floating Rate Period”
has the meaning provided in Section 3.4(b).

 

“Floating Rate Regular Record Date”
has the meaning provided in Section 3.4(b).

 

“Interest Payment Date”
has the meaning provided in Section 3.4(b).

 

“interest period” means
the period from and including the immediately preceding Interest Payment Date in respect of which interest has been paid or duly
provided for or, if no interest has been paid or duly provided for, from and including the Issue Date to, but excluding, the applicable
Interest Payment Date or the Maturity Date or date of earlier redemption, if applicable.

 

“Interpolated Benchmark”
with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between:
(1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor,
and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding
Tenor.

 

“ISDA” means the International
Swaps and Derivatives Association, Inc. or any successor.

 

“ISDA Definitions” means
the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto,
as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from
time to time.

 

“ISDA Fallback Adjustment”
means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing
the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable
tenor.

 

“ISDA Fallback Rate”
means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence
of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

 

    6

    

    

 

“Issue Date” means October 28,
2020.

 

“Major Constituent Bank”
means any Subsidiary which is organized as a banking organization under federal or state law and which represents 50% or more of
the consolidated assets of the Company determined as of the date of the most recent audited financial statements of the Company.

 

“Maturity Date” has the
meaning provided in Section 3.2.

 

“Place of Payment” means,
when used with respect to the Securities of any series, the place or places where the principal of and premium, if any, and interest
on the Securities of that series are payable as specified pursuant to Section 2.2 of the Base Indenture.

 

“Prospectus Supplement”
means the Prospectus Supplement dated October 23, 2020 to the Prospectus dated June 1, 2018, relating to the Notes.

 

“Redemption Date” has
the meaning provided in Section 3.5(a) of the Supplemental Indenture.

 

“Reference Time” with
respect to any determination of the Benchmark means (1) if the Benchmark is Three-Month Term SOFR, the time determined by
the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions, and (2) if the Benchmark is not Three-Month
Term SOFR, the time determined by the Calculation Agent after giving effect to the Benchmark Replacement Conforming Changes.

 

“Relevant Governmental Body”
means the Federal Reserve and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal
Reserve and/or the Federal Reserve Bank of New York or any successor thereto.

 

“Senior Indebtedness”
means any obligation of the Company to its creditors, whether now outstanding or subsequently incurred, other than any obligation
where, in the instrument creating or evidencing the obligation or pursuant to which the obligation is outstanding, it is provided
that the obligation is not Senior Indebtedness. Senior Indebtedness includes, without limitation:

 

(a)     the
principal (and premium, if any) of and interest in respect of indebtedness of the Company for purchased or borrowed money, whether
or not evidenced by securities, notes, debentures, bonds or other similar instruments issued by the Company, including obligations
incurred in connection with the acquisition of property, assets or businesses;

 

(b)     all
capital lease obligations of the Company;

 

(c)     all
obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations of the
Company and all obligations of the Company under any conditional sale or title retention agreement, but excluding trade accounts
payable in the ordinary course of business;

 

    7

    

    

 

(d)     all
obligations of the Company arising from off-balance sheet guarantees and direct credit substitutes, including obligations in respect
of any letters of credit, bankers’ acceptance, security purchase facilities and similar credit transactions;

 

 

(e)     all
obligations of the Company associated with derivative products, including obligations in respect of interest rate swap, cap or
other agreements, interest rate future or options contracts, currency swap agreements, currency future or option contracts and
other similar agreements;

 

(f)      all
obligations of the type referred to in clauses (a) through (e) of other persons for the payment of which the Company
is responsible or liable as obligor, guarantor or otherwise;

 

(g)     all
obligations of the type referred to in clauses (a) through (f) of other persons secured by any lien on any property or
asset of the Company whether or not such obligation is assumed by the Company; and

 

(h)     any
deferrals, renewals or extensions of any obligations of the type referred to in clauses (a) through (g) above.

 

Notwithstanding the foregoing, Senior Indebtedness
does not include:

 

(a)      the
Notes;

 

(b)      trade
accounts payable arising in the ordinary course of business; and

 

(c)      any
indebtedness that by its terms is subordinated to, or ranks on an equal basis with, the Notes including the Trust Preferred Securities.

 

“SOFR” means the secured
overnight financing rate published by the Federal Reserve Bank of New York, as the administrator of the Benchmark (or a successor
administrator), on the Federal Reserve Bank of New York’s website.

 

“Tax Event” means the
receipt by the Company of an opinion of independent tax counsel to the effect that as a result of (a) an amendment to or change
(including any announced prospective amendment or change) in any law or treaty, or any regulation thereunder, of the United States
or any of its political subdivisions or taxing authorities; (b) a judicial decision, administrative action, official administrative
pronouncement, ruling, regulatory procedure, regulation, notice or announcement, including any notice or announcement of intent
to adopt or promulgate any ruling, regulatory procedure or regulation (any of the foregoing, an “Administrative or Judicial
Action”); or (c) an amendment to or change in any official position with respect to, or any interpretation of, an
Administrative or Judicial Action or a law or regulation of the United States that differs from the previously generally accepted
position or interpretation, in each case, which change or amendment or challenge becomes effective or which pronouncement or decision
or challenge is announced on or after the original issue date of the Notes, there is more than an insubstantial risk that interest
payable by the Company on the Notes is not, or, within 90 days of the date of such opinion, will not be, deductible by the Company,
in whole or in part, for United States federal income tax purposes.

 

    8

    

    

 

“Term SOFR” means the
forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Term SOFR Administrator”
means any entity designated by the Relevant Governmental Body as the administrator of Term SOFR (or a successor administrator).

 

“Three-Month Term SOFR”
means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time
for any interest period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions. All
percentages used in or resulting from any calculation of Three-Month Term SOFR shall be rounded, if necessary, to the nearest one-hundred-thousandth
of a percentage point, with 0.000005% rounded up to 0.00001%.

 

“Three-Month Term SOFR Conventions”
means any determination, decision or election with respect to any technical, administrative or operational matter (including with
respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “interest
period,” timing and frequency of determining Three-Month Term SOFR with respect to each interest period and making payments
of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate
to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if
the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation
Agent determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Calculation Agent
determines is reasonably necessary).

 

“Tier 2 Capital Event”
means the Company’s good faith determination that, as a result of (a) any amendment to, or change in, the laws, rules or
regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including
the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the United States that is
enacted or becomes effective after the original issue date of the Notes; (b) any proposed change in those laws, rules or
regulations that is announced or becomes effective after the original issue date of the Notes; or (c) any official administrative
decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws, rules,
regulations, policies or guidelines with respect thereto that is announced after the original issue date of the Notes, there is
more than an insubstantial risk that the Company will not be entitled to treat the Notes then outstanding as “Tier 2 Capital”
(or its equivalent) for purposes of the capital adequacy rules or regulations of the Federal Reserve System (or, as and if
applicable, the capital adequacy rules or regulations of any successor appropriate federal banking agency) as then in effect
and applicable to the Company, for so long as any Notes are outstanding.

 

“Trust Preferred Securities”
means, collectively, the Company’s existing Floating Rate Three Month LIBOR Plus 3.25% Trust Preferred Securities due 2032,
Floating Rate Three Month LIBOR Plus 3.25% Trust Preferred Securities due 2033, Floating Rate Three Month LIBOR Plus 3.25% Trust
Preferred Securities due 2033, Floating Rate Three Month LIBOR Plus 2.00% Trust Preferred Securities due 2035, Floating Rate Three
Month LIBOR Plus 2.00% Trust Preferred Securities due 2035, Floating Rate Three Month LIBOR Plus 1.75% Trust Preferred Securities
due 2035, Floating Rate Three Month LIBOR Plus 1.50% Trust Preferred Securities due 2035, Floating Rate Three Month LIBOR Plus
1.45% Trust Preferred Securities due 2037 and Floating Rate Three Month LIBOR Plus 2.50% Trust Preferred Securities due 2037, each
issued to the Company’s capital trust subsidiaries.

 

    9

    

    

 

“Unadjusted Benchmark Replacement”
means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

 

“U.S. Dollars” means
such currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts.

 

“U.S. Government Obligations”
has the meaning set forth in Section 8.4(a) of the Base Indenture.

 

(d)     Solely
with respect to the Notes, Section 1.1 of the Base Indenture is amended and supplemented, by replacing the corresponding defined
terms in the Base Indenture in their entirety with the following defined terms:

 

“Business Day” means
(a) each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions or trust companies
in New York, New York are authorized or obligated by law, regulation or executive order to remain closed, or (b) a day on
which banking institutions or trust companies in the Place of Payment are authorized or obligated by law, regulation or executive
order to remain closed.

 

“Indenture” has the meaning
set forth in the Recitals.

 

ARTICLE Three

 

CREATION
OF THE NOTES

 

Section 3.1       Designation
of Series. Pursuant to the terms hereof and Sections 2.1 and 2.2 of the Base Indenture, the Company hereby creates a series
of its subordinated debt securities designated as the “4.125% Fixed-to-Floating Rate Subordinated Notes due 2030”
(the “Notes”), which Notes shall be deemed “Securities” for all purposes under the Indenture.

 

Section 3.2       Form and
Minimum Denomination of Notes. The definitive form of the Notes shall be substantially in the form set forth in Exhibit A
attached hereto, which is incorporated herein and made part hereof. The Notes shall bear interest and have such other terms as
are stated in the form of definitive Notes or in the Indenture. The Stated Maturity of the Notes shall be November 1, 2030
(the “Maturity Date”). The Notes shall be issued in denominations of $2,000 and integral multiples of $1,000
in excess thereof.

 

Section 3.3       Initial
Limit on Amount of Series. The Notes shall initially be limited to U.S. $150,000,000 in aggregate principal amount, and may,
upon the execution and delivery of this Supplemental Indenture or from time to time thereafter, be executed by the Company and
delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes to or upon the
delivery of a Company Order. Following the initial issuance of the Notes, the aggregate principal amount of Notes may be increased
as provided in Section 3.9 of this Supplemental Indenture.

 

    10

    

    

 

Section 3.4       Interest.

 

(a)           The
Notes will bear interest at an initial fixed rate of 4.125% per annum from and including October 28, 2020 to, but excluding,
November 1, 2025 or earlier Redemption Date (the “Fixed Rate Period”). Interest accrued on the Notes during
the Fixed Rate Period will be payable semi-annually in arrears on May 1 and November 1 of each year, commencing on May 1,
2021 (each such date, a “Fixed Rate Interest Payment Date”). The last Fixed Rate Interest Payment Date shall
be November 1, 2025, unless the Notes are earlier redeemed. The interest payable during the Fixed Rate Period will be paid
to each Holder in whose name a Note is registered at the close of business on the fifteenth calendar day (whether or not a Business
Day) immediately preceding the applicable Fixed Rate Interest Payment Date (each such date, a “Fixed Rate Regular Record
Date”).

 

(b)           The
Notes will bear a floating interest rate from, and including November 1, 2025, to, but excluding, the Maturity Date or earlier
Redemption Date (the “Floating Rate Period”). The floating interest rate will be reset quarterly, and the interest
rate for any Floating Rate Period shall be equal to the then-current Three-Month Term SOFR plus 391 basis points for each quarterly
interest period during the Floating Rate Period. During the Floating Rate Period, interest on the Notes will be payable quarterly
in arrears on February 1, May 1, August 1 and November 1 of each year, commencing on February 1, 2026
(each such date, a “Floating Rate Interest Payment Date” and, together with a Fixed Rate Interest Payment Date,
an “Interest Payment Date”). The interest payable during the Floating Rate Period will be paid to each Holder
in whose name a Note is registered at the close of business on the fifteenth calendar day (whether or not a Business Day) immediately
preceding the applicable Floating Rate Interest Payment Date (each such date, a “Floating Rate Regular Record Date”).
Notwithstanding the foregoing, if Three-Month Term SOFR (or other applicable Benchmark) is less than zero, then Three-Month Term
SOFR (or other such Benchmark) shall be deemed to be zero. The Calculation Agent will provide the Company and the Trustee with
the interest rate in effect on the Notes promptly after the Reference Time (or such other date of determination for the applicable
Benchmark).

 

(c)           The
amount of interest payable on any Fixed Rate Interest Payment Date during the Fixed Rate Period will be computed on the basis of
a 360-day year consisting of twelve 30-day months to, but excluding, November 1, 2025, and, the amount of interest payable
on any Floating Rate Interest Payment Date during the Floating Rate Period will be computed on the basis of a 360-day year on the
basis of the actual number of days elapsed.

 

(d)           The
Company or the Calculation Agent, as applicable, shall calculate the amount of interest payable on any Interest Payment Date and
the Trustee shall have no duty to confirm or verify any such calculation. In the event that any scheduled Interest Payment Date
or the Maturity Date for the Notes falls on a day that is not a Business Day, then payment of interest payable on such Interest
Payment Date or of principal and interest payable on the Maturity Date will be paid on the next succeeding day which is a Business
Day (any payment made on such date will be treated as being made on the date that the payment was first due and no interest on
such payment will accrue for the period from and after such scheduled Interest Payment Date); provided, that in the event that
any scheduled Floating Rate Interest Payment Date falls on a day that is not a Business Day and the next succeeding Business Day
falls in the next succeeding calendar month, such Floating Rate Interest Payment Date will be accelerated to the immediately preceding
Business Day, and, in each such case, the amounts payable on such Business Day will include interest accrued to, but excluding,
such Business Day. U.S. Dollar amounts resulting from interest calculations will be rounded to the nearest cent, with one-half
cent being rounded upward.

 

    11

    

    

 

(e)           The
Company shall take such actions as are necessary to ensure that from the commencement of the Floating Rate Period for so long as
any of the Notes remain outstanding there will at all times be a Calculation Agent appointed to calculate Three-Month Term SOFR
in respect of each Floating Rate Period. The calculation of Three-Month Term SOFR for each applicable Floating Rate Period by the
Calculation Agent will (in the absence of manifest error) be final and binding. The Calculation Agent’s determination of
any interest rate and its calculation of interest payments for any period will be maintained on file at the Calculation Agent’s
principal offices, will be made available to any Holder of the Notes upon request and will be provided to the Trustee. The Calculation
Agent shall have all the rights, protections and indemnities afforded to the Trustee under the Base Indenture and hereunder. The
Calculation Agent may be removed by the Company at any time. If the Calculation Agent is unable or unwilling to act as Calculation
Agent or is removed by the Company, the Company will promptly appoint a replacement Calculation Agent. The Calculation Agent may
not resign its duties without a successor having been duly appointed; provided, that if a successor Calculation Agent has not been
appointed by the Company and such successor accepted such position within 30 days after the giving of notice of resignation by
the Calculation Agent, then the resigning Calculation Agent may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Calculation Agent with respect to such series. The Trustee shall not be under any
duty to succeed to, assume or otherwise perform, any duties of the Calculation Agent, or to appoint a successor or replacement
in the event of the Calculation Agent’s resignation or removal or to replace the Calculation Agent in the event of a default,
breach or failure of performance on the part of the Calculation Agent with respect to the Calculation Agent’s duties and
obligations hereunder. For the avoidance of doubt, if at any time there is no Calculation Agent appointed by the Company, then
the Company shall be the Calculation Agent. The Company may appoint itself or any of its Affiliates to be the Calculation Agent.

 

(f)           Effect
of Benchmark Transition Event.

 

(1)            If
the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred on
or prior to the Reference Time in respect of any determination of the Benchmark on any date, then the Benchmark Replacement will
replace the then-current Benchmark for all purposes relating to the Notes during the Floating Rate Period in respect of such determination
on such date and all determinations on all subsequent dates. In connection with the implementation of a Benchmark Replacement,
the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time.

 

    12

    

    

 

(2)         Notwithstanding
anything set forth in Section 3.4(b) above, if the Calculation Agent determines on or prior to the relevant Reference
Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term
SOFR, then the provisions set forth in this Section 3.4(f) will thereafter apply to all determinations of the interest
rate on the Notes during the Floating Rate Period. After a Benchmark Transition Event and its related Benchmark Replacement Date
have occurred, the interest rate on the Notes for each interest period during the Floating Rate Period will be an annual rate equal
to the Benchmark Replacement plus 391 basis points.

 

(3)        The
Calculation Agent is expressly authorized to make certain determinations, decisions and elections under the terms of the Notes,
including with respect to the use of Three-Month Term SOFR as the Benchmark and under this Section 3.4(f). Any determination,
decision or election that may be made by the Calculation Agent under the terms of the Notes, including any determination with respect
to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take
or refrain from taking any action or selection (A) will be conclusive and binding on the Holders of the Notes and the Trustee
absent manifest error, (B) if made by the Company as Calculation Agent, will be made in the Company’s sole discretion,
(C) if made by a Calculation Agent other than the Company, will be made after consultation with the Company, and the Calculation
Agent will not make any such determination, decision or election to which the Company reasonably objects and (D) notwithstanding
anything to the contrary herein or in the Base Indenture, shall become effective without consent from the Holders of the Notes,
the Trustee or any other party. If the Calculation Agent fails to make any determination, decision or election that it is required
to make under the terms of the Notes, then the Company will make such determination, decision or election on the same basis as
described above.

 

(4)         The
Company (or its Calculation Agent) shall notify the Trustee in writing (i) upon the occurrence of the Benchmark Transition
Event or the Benchmark Replacement Date, and (ii) of any Benchmark Replacements, Benchmark Replacement Conforming Changes
and other items affecting the interest rate on the Notes after a Benchmark Transition Event.

 

(5)        The
Trustee (including in its capacity as Paying Agent) shall have no (i) responsibility or liability for the (A) Three-Month
Term SOFR Conventions, (B) selection of an alternative reference rate to Three-Month Term SOFR (including, without limitation,
whether the conditions for the designation of such rate have been satisfied or whether such rate is a Benchmark Replacement or
an Unadjusted Benchmark Replacement), (C) determination or calculation of a Benchmark Replacement, or (D) determination
of whether a Benchmark Transition Event or Benchmark Replacement Date has occurred, and in each such case under clauses (A) through
(D) above shall be entitled to conclusively rely upon the selection, determination, and/or calculation thereof as provided
by the Company or its Calculation Agent, as applicable, and (ii) liability for any failure or delay in performing its duties
hereunder as a result of the unavailability of a Benchmark rate as described in the definition thereof, including, without limitation,
as a result of the Company’s or Calculation Agent’s failure to select a Benchmark Replacement or the Calculation Agent’s
failure to calculate a Benchmark. The Trustee shall be entitled to rely conclusively on all notices from the Company or its Calculation
Agent regarding any Benchmark or Benchmark Replacement, including, without limitation, in regards to Three-Month Term SOFR Conventions,
a Benchmark Transition Event, Benchmark Replacement Date, and Benchmark Replacement Conforming Changes. The Trustee shall not be
responsible or liable for the actions or omissions of the Calculation Agent, or any failure or delay in the performance of the
Calculation Agent’s duties or obligations, nor shall it be under any obligation to monitor or oversee the performance of
the Calculation Agent. The Trustee shall be entitled to conclusively rely on any determination made, and any instruction, notice,
Officers’ Certificate or other instruction or information provided by the Calculation Agent without independent verification,
investigation or inquiry of any kind. The Trustee shall not be obligated to enter into any amendment or supplement hereto that
adversely impacts its rights, duties, obligations, immunities or liabilities (including, without limitation, in connection with
the adoption of any Benchmark Replacement Conforming Changes).

 

    13

    

    

 

(6)      If
the then-current Benchmark is Three-Month Term SOFR, the Calculation Agent will have the right to establish the Three-Month Term
SOFR Conventions, and if any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest
during the Floating Rate Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Calculation
Agent, then the relevant Three-Month Term SOFR Conventions will apply.

 

Section 3.5       Redemption.

 

(a)           The
Notes shall be redeemable, in each case, in whole or in part from time to time, at the option of the Company beginning with the
Interest Payment Date on November 1, 2025, but not prior thereto (except upon the occurrence of certain events specified below),
and on any Interest Payment Date thereafter (each, a “Redemption Date”), subject to obtaining the prior approval
of the Federal Reserve to the extent such approval is then required under the rules of the Federal Reserve (or, as and if
applicable, the rules of any successor appropriate bank regulatory agency). The Notes may not otherwise be redeemed prior
to the Maturity Date, except that the Company may, at its option, redeem the Notes before the Maturity Date, in whole, but not
in part, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the
rules of the Federal Reserve (or, as and if applicable, the rules of any successor appropriate bank regulatory agency),
within 90 days following the occurrence of a Tier 2 Capital Event or a Tax Event, or if the Company is required to register as
an investment company pursuant to the Investment Company Act of 1940, as amended (15 U.S.C. 80a-1 et seq.). Any such redemption
will be at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest
to, but excluding, the Redemption Date fixed by the Company. The provisions of Article III of the Base Indenture shall apply
to any redemption of the Notes pursuant to this Section 3.5; provided that a notice of redemption shall be delivered not less
than 15 nor more than 60 days prior to the Redemption Date, to each Holder of Notes to be redeemed in whole or in part. Any partial
redemption will be made in accordance with DTC’s applicable procedures among all of the Holders of the Notes. If any Note
is to be redeemed in part only, the notice of redemption relating to such Note shall state that it is a partial redemption and
the portion of the principal amount thereof to be redeemed. A replacement Note in principal amount equal to the unredeemed portion
thereof will be issued in the name of the Holder thereof upon cancellation of the original Note. The Notes are not subject to redemption
or prepayment at the option of the Holders.

 

    14

    

    

 

A notice of redemption may, at the Company’s
discretion, be given subject to one or more conditions precedent. If any redemption is subject to the satisfaction of one or more
conditions precedent, such notice will describe each such condition, and such notice may be rescinded or the Redemption Date may
be delayed until such time as any or all of such conditions have been satisfied or waived by the Company; provided that, if the
Company determines that such conditions will not be satisfied, notice of such recession or delay is provided to the holders (with
a copy to the Trustee) on or prior to the Business Day immediately preceding the relevant redemption date.

 

Once notice of redemption is mailed or sent,
subject to the satisfaction of any conditions precedent provided in the notice of redemption, the notes called for redemption will
become due and payable on the Redemption Date and at the applicable Redemption Price set forth in this Section 3.5.

 

Section 3.6       No
Repayment or Sinking Fund. The Notes will not be subject to redemption or repayment at the option of any Holder at any time
prior to the Stated Maturity. No sinking fund will be provided with respect to the Notes.

 

Section 3.7       Notes
Not Convertible or Exchangeable. The Notes will not be convertible into or exchangeable for equity securities, other securities,
or assets or property of the Company or its subsidiaries.

 

Section 3.8       Issuance
of Notes; Selection of Depository. The Notes shall be issued as Global Securities in permanent global form, without coupons.
The initial Depositary for the Notes shall be DTC.

 

Section 3.9       Further
Issuances. The Company may, without consent of the Holders of the Notes but in compliance with the terms of the Indenture,
increase the principal amount of the Notes by issuing additional Notes on the same terms and conditions as the Notes, except for
any differences in the issue price and interest accrued prior to the date of issuance of the additional Notes, and with the same
CUSIP number as the Notes; provided that such additional Notes are fungible with the Notes for U.S. federal income tax purposes.
The Notes and any additional Notes issued by the Company will rank equally and ratably and shall be treated as a single series
of Securities for all purposes under the Indenture.

 

Section 3.10     No
Additional Amounts. In the event that any payment on the Notes is subject to withholding of any U.S. federal income tax or
other tax or assessment (as a result of a change in law or otherwise), the Company will not pay additional amounts with respect
to such tax or assessment.

 

Section 3.11     Registrar;
Paying Agent. The Company appoints Wilmington Trust, National Association as Registrar and Paying Agent with respect to the
Notes, and Wilmington Trust, National Association hereby accepts such appointment.

 

    15

    

    

 

ARTICLE Four

 

the
Securities

 

Section 4.1     Solely
with respect to the Notes, Section 2.3 of the Base Indenture is amended and supplemented, by replacing the first two paragraphs
of such Section in the Base Indenture with the following: “The Securities shall be executed in the name and on behalf
of the Company by the manual, electronic signature or facsimile signature of its Chairman of the Board of Directors, its Chief
Executive Officer, President, one of its Vice Presidents or Treasurer. Unless otherwise provided herein or in any other Securities,
the words “execute”, “execution”, “signed”, and “signature” and words of similar
import used in or related to any document to be signed in connection with this Indenture, any other Securities or any of the transactions
contemplated hereby (including amendments, waivers, consents and other modifications) shall be deemed to include electronic signatures
and the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as
a manually executed signature in ink or the use of a paper-based recordkeeping system, as applicable, to the fullest extent and
as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New
York State Electronic Signatures and Records Act, and any other similar state laws based on the Uniform Electronic Transactions
Act, provided that, notwithstanding anything herein to the contrary, the Trustee is not under any obligation to agree to accept
electronic signatures in any form or in any format unless expressly agreed to by such Trustee pursuant to procedures approved
by such Trustee. If the Person whose signature is on a Security no longer holds that office at the time the Security is authenticated
and delivered, the Security shall nevertheless be valid.”

 

ARTICLE Five

 

REMEDIES
OF TRUSTEE AND SECURITYHOLDERS

 

Section 5.1     Solely
with respect to the Notes, Section 6.1 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following: “Section 6.1. Events of Default. Except where otherwise
indicated by the context or where the term is otherwise defined for a specific purpose, the term “Event of Default”
as used in this Indenture with respect to the Notes shall mean any of the following described events:

 

(a)            the
entry by a court having jurisdiction in the premises of (i) a decree or order for relief in respect of the Company in an involuntary
case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or (ii) a
decree or order adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of or in respect of the Company under any applicable federal or state law, or appointing
a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial
part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order
for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days;

 

    16

     

    

 

(b)            the
commencement by the Company of a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization
or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the
entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable federal
or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case
or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable
federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency
case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable federal or state law, or the consent by it to the filing of such petition or to the appointment of or taking possession
by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any substantial
part of its property or the taking of corporate action by the Company in furtherance of any such action; and

 

     (c) (i)           the
appointment by a competent government agency having primary regulatory authority over any Major Constituent Bank under any applicable
federal or state banking, insolvency or similar law now or hereafter in effect of a receiver of any such Major Constituent Bank
or (ii) the entry of a decree or order in any case or proceeding under any applicable federal or state banking, insolvency
or other similar law now or hereafter in effect appointing any receiver of any Major Constituent Bank.”

 

Section 5.2              Solely
with respect to the Notes, Section 6.2 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

“Section 6.2. Acceleration of
Maturity; Rescission and Annulment.

 

(a) (i) If an Event of Default occurs,
the principal amount of all the Notes shall automatically, and without any declaration or other action on the part of the Trustee
or any Holder, become immediately due and payable.

 

(ii) At any time after the acceleration
of the Notes and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this
Article provided, the Holders of a majority in principal amount of the outstanding Notes, by written notice to the Company
and the Trustee, may rescind and annul such acceleration and its consequences if

 

(1)            the
Company has paid or deposited with the Trustee a sum sufficient to pay

 

(A)            all
overdue interest on the Notes,

 

(B)            the
principal of (and premium, if any, on) the Notes which have become due otherwise than by such acceleration and, to the extent permitted
by applicable law, interest thereon at the rate or rates prescribed therefor in the Notes,

 

    17

     

    

 

(C)            to
the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in
the Notes, and

 

(D)            all
sums paid or advanced by the Trustee hereunder and the compensation, reasonable expenses, disbursements and advances of the Trustee,
its agents and counsel;

 

and

 

(2)            all
Events of Default with respect to the Notes, other than the non-payment of the principal of the Notes which has become due solely
by such declaration of acceleration, have been cured or waived as provided in Section 6.5 of the Base Indenture.

 

(iii) No such rescission shall affect any subsequent
default or impair any right consequent thereon.”

 

Section 5.3             Solely
with respect to the Notes, the following shall be included as Section 6.3 of the Base Indenture and Sections 6.3 through 6.11
are hereby redesignated as Sections 6.4 through 6.12, respectively:

 

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

 

The Company covenants that if

 

(a)            default
is made in the payment of any interest on the Notes when such interest becomes due and payable and such default continues for a
period of 30 days,

 

(b)            default
is made in the payment of the principal of (or premium, if any, on) any Note at the Maturity Date, or

 

(c)            the
failure of the Company to perform any covenants or agreements contained in the Indenture, which failure shall not have been remedied,
or without provision deemed to be adequate for the remedying thereof having been made, for a period of 90 days after written notice
shall have been given to the Company by the Trustee or shall have been given to the Company and the Trustee by Holders of 25% or
more in aggregate principal amount of the Notes then outstanding, specifying such failure, requiring the Company to remedy the
same and stating that such notice is a notice of default under the Indenture,

 

the Company will, upon demand of the Trustee, pay
to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on the Notes 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 prescribed in the Notes, and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel.

 

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If the Company shall fail to pay such amounts forthwith
upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against
the Company or any other obligor of the Notes and collect the moneys adjudged or decreed to be payable in the manner provided by
law out of the property of the Company or any other obligor of the Notes, wherever situated.

 

If an Event of Default with respect to the Notes occurs
and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
the Notes 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 the Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy.”

 

ARTICLE Six

 

SUBORDINATION
OF SECURITIES

 

Section 6.1             Solely
with respect to the Notes, the following is added as Article XIII of the Base Indenture:

 

“Section 13.1. Agreement
to Subordinate. The Company covenants and agrees, and each Holder of a Note, by his acceptance thereof, likewise
covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the indebtedness
represented by the Notes and the payment of the principal of (and premium, if any) and interest on each and all of the Notes
are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior
Indebtedness. Notwithstanding the foregoing, if a deposit referred to in Section 8.4(a) is made pursuant to
Section 8.2 or 8.3, with respect to any Notes (and provided all other conditions set out in Section 8.2 or 8.3
shall have been satisfied with respect to the Notes), then, following the 90th day after such deposit, or any
longer preference period if applicable, no money or U.S. Government Obligations so deposited, and no proceeds thereon, will
be subject to any rights of holders of Senior Indebtedness, including any such rights arising under Article XIII of the
Base Indenture.

 

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Section 13.2. Distribution on Dissolution,
Liquidation and Reorganization; Subrogation of Securities.

 

(a)            In
the event of (i) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other
similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or
(ii) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or not
involving insolvency or bankruptcy, or (iii) any assignment for the benefit of creditors or any other marshaling of assets
and liabilities of the Company, then and in any such event the holders of Senior Indebtedness shall be entitled to receive payment
in full of all amounts due or to become due on or in respect of all Senior Indebtedness, or provision shall be made for such payment,
before the Holders of the Notes are entitled to receive any payment on account of principal of or interest on the Notes, and to
that end the holders of Senior Indebtedness shall be entitled to receive, for application to the payment thereof, any payment or
distribution of any kind or character, whether in cash, property or securities, which may be payable or deliverable in respect
of the Notes in any such case, proceeding, dissolution, liquidation or other winding up or event.

 

(b)            Upon
the occurrence of any of the events described in clauses (i), (ii) or (iii) of the immediately preceding paragraph, in
the event that notwithstanding the foregoing provisions of this Section the Trustee or the Holder of any Notes shall have
received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities,
before all Senior Indebtedness is paid in full or payment thereof provided for, and if such fact shall, at or prior to the time
of such payment or distribution, have been made known to the Trustee or, as the case may be, such Holder, then and in such event
such payment or distribution shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver, liquidating trustee,
custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment
of all Senior Indebtedness remaining unpaid, to the extent necessary to pay all Senior Indebtedness in full, after giving effect
to any concurrent payment or distribution to or for the holders of Senior Indebtedness.

 

(c)            The
consolidation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of the Company
following the conveyance or transfer all or substantially all of its properties and assets to another Person upon the terms and
conditions set forth in Article V of the Base Indenture shall not be deemed a dissolution, winding up, liquidation, reorganization,
assignment for the benefit of creditors or marshaling of assets and liabilities of the Company for the purposes of this Section if
the Person formed by such consolidation or into which the Company is merged or which acquires by conveyance or transfer all or
substantially all properties and assets, as the case may be, shall, as a part of such consolidation, merger, conveyance or transfer,
comply with the respective conditions set forth in Article V of the Base Indenture.

 

(d)            Subject
to the payment in full of all Senior Indebtedness, the Holders of the Notes shall be subrogated (equally and ratably with the holders
of all indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the
same extent as the Notes are subordinated and is entitled to like rights of subrogation) to the rights of the holders of such Senior
Indebtedness to receive payments and distributions of cash, property and securities applicable to the Senior Indebtedness until
the principal of (and premium, if any) and interest on the Notes shall be paid in full. For purposes of such subrogation, no payments
or distributions to the holders of the Senior Indebtedness of any cash, property or securities to which the Holders of the Notes
or the Trustee would be entitled except for the provisions of this Article, and no payments over pursuant to the provisions of
this Article to the holders of Senior Indebtedness by Holders of the Notes or the Trustee, shall, as among the Company, its
creditors other than holders of Senior Indebtedness and the Holders of the Notes, be deemed to be a payment or distribution by
the Company to or on account of the Senior Indebtedness.

 

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(e)            The
provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the
Notes on the one hand and the holders of Senior Indebtedness on the other hand. Nothing contained in this Article or elsewhere
in the Indenture or in the Notes is intended to or shall (a) impair, as among the Company, its creditors other than holders
of Senior Indebtedness and the Holders of the Notes, the obligation of the Company, which is absolute and unconditional and which,
subject to the rights under this Article of the holders of Senior Indebtedness, is intended to rank equally with all other
obligations of the Company, to pay to the Holders of the Notes the principal of and interest on the Notes as and when the same
shall become due and payable in accordance with their terms; or (b) affect the relative rights against the Company of the
Holders of the Notes and creditors of the Company other than the holders of Senior Indebtedness; or (c) prevent the Trustee
or the Holder of any Note from exercising all remedies otherwise permitted by applicable law upon default under the Indenture,
subject to the rights, if any, under this Article of the holders of Senior Indebtedness to receive cash, property and securities
otherwise payable or deliverable to the Trustee or such Holder.

 

Section 13.3. No Payment When Senior
Indebtedness in Default.

 

(a)            In
the event and during the continuation of any default in the payment of principal of (or premium, if any) or interest on any Senior
Indebtedness beyond any applicable grace period with respect thereto, or, in the event any judicial proceeding shall be pending
with respect to any such default, then no payment shall be made by the Company on account of principal of or interest on the Notes
or on account of the purchase or other acquisition of Notes.

 

(b)            In
the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Note prohibited
by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known
to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith
to the Company.

 

(c)            The
provisions of this Section shall not apply to any payment with respect to which Section 13.2 of the Base Indenture would
be applicable.

 

Section 13.4. Payment Permitted If
No Default. Nothing contained in this Article or elsewhere in the Indenture or in the Notes shall prevent (a) the
Company, at any time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment
for the benefit of creditors or other marshaling of assets and liabilities of the Company referred to in Section 13.2 of the
Base Indenture or under the conditions described in Section 13.3 of the Base Indenture, from making payments at any time of
principal of or interest on the Notes, or (b) the application by the Trustee of any money deposited with it hereunder to the
payment of or on account of the principal of (and premium, if any) or interest on the Notes or the retention of such payment by
the Holders, if, at the time of such application by the Trustee, it did not have knowledge that such payment would have been prohibited
by the provisions of this Article.

 

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Section 13.5. Notices to Trustee.

 

(a)            The
Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Notes. Notwithstanding the provisions of this Article or any other provision
of the Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making
of any payment to or by the Trustee in respect of the Notes, unless and until the Trustee shall have received written notice thereof
from the Company or a holder of Senior Indebtedness or from any trustee therefor; and, prior to the receipt of any such written
notice, the Trustee shall be entitled in all respects to assume that no such facts exist; provided, however, that if the
Trustee shall not have received the notice provided for in this Section at least five Business Days prior to the date upon
which by the terms hereof any money may become payable for any purpose, then, anything herein contained to the contrary notwithstanding,
the Trustee shall have full power and authority to receive such money and to apply the same to the purpose for which such money
was received and shall not be affected by any notice to the contrary which may be received by it within five Business Days prior
to such date.

 

(b)            The
Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of
Senior Indebtedness or a trustee therefor to establish that such notice has been given by a holder of Senior Indebtedness or a
trustee therefor. In the event that the Trustee determines in good faith that further evidence is required with respect to the
right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article,
the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior
Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and
any other facts pertinent to the rights of such Person under this Article, and if such evidence is not furnished, the Trustee may
defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.

 

Section 13.6. Rights of Trustee as
Holder of Senior Indebtedness; Preservation of Trustee’s Rights. The Trustee or any Authenticating Agent in its individual
capacity shall be entitled to all the rights set forth in this Article with respect to any Senior Indebtedness which may at
any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in the Indenture shall deprive
the Trustee of any of its rights as such holder.

 

Section 13.7. No Waiver of Subordination
Provisions.

 

(a)            No
right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time
in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in
good faith, by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of the Indenture,
regardless of any knowledge thereof any such holder may have or be otherwise charged with.

 

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(b)            Without
in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time
to time, without the consent of or notice to the Trustee or the Holders of the Notes, without incurring responsibility to the Holders
of the Notes and without impairing or releasing the subordination provided in this Article or the obligations hereunder of
the Holders of the Notes to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner,
place or terms of payment or extend the time of payment of, or renew or alter, Senior Indebtedness, or otherwise amend or supplement
in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding;
(ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness;
(iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain
from exercising any rights against the Company and any other Person.

 

Section 13.8. Reliance on Judicial
Order or Certificate of Liquidating Agent. Upon any payment or distribution of assets of the Company referred to in this Article,
the Trustee and the Holders of the Notes shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction
in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding
is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of
creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of the Notes,
for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of the Senior
Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this Article.

 

Section 13.9. Satisfaction and Discharge;
Defeasance and Covenant Defeasance. Subject to Section 13.1 of the Base Indenture, amounts and U.S. Government Obligations
deposited in trust with the Trustee pursuant to and in accordance with Articles XIII and VIII of the Base Indenture and not, at
the time of such deposit, prohibited to be deposited under Sections 13.2 or Section 13.3 of the Base Indenture shall not be
subject to Article XIII of the Base Indenture.

 

Section 13.10. Trustee Not Fiduciary
for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness
and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of the Notes
or to the Company or to any other Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled
by virtue of this Article or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform
or to observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants
or obligations with respect to holders of Senior Indebtedness shall be read into the Indenture against the Trustee.

 

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Section 13.11. Article Applicable
to Paying Agents. In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and
be then acting hereunder, the term “Trustee” as used in this Article shall in such case (unless the context otherwise
requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes
as if such Paying Agent were named in this Article in addition to or in place of the Trustee; provided, however, that
Section 13.6 of the Base Indenture hereof shall not apply to the Company or any Affiliate of the Company if it or such Affiliate
acts as Paying Agent.

 

Section 13.12. Payment of Proceeds
in Certain Cases. Upon the occurrence of any of the events specified in clauses (i), (ii) and (iii) of Section 13.2(a),
the provisions of that Section shall be given effect to determine the amount of cash, property or securities which may be
payable or deliverable as between the holders of Senior Indebtedness, on the one hand, and the Holders of Notes, on the other hand.

 

Section 13.13. All Indenture Provisions
Subject to Article XIII. Notwithstanding anything herein contained to the contrary, all the provisions of the Indenture
shall be subject to the provisions of this Article XIII, so far as the same may be applicable thereto. The provisions of this
Article XIII shall not apply to amounts due and owing to the Trustee under Section 7.2 and Section 7.7 of the Base
Indenture.

 

Section 13.14. Prior Payment to Senior
Indebtedness Upon Acceleration of the Notes.

 

(a)            In
the event that any Notes are declared due and payable before their Maturity Date, then and in such event the holders of Senior
Indebtedness shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Indebtedness
or provision shall be made for such payment in cash, before the Holders of the Notes are entitled to receive any payment (including
any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment
of the Notes) by the Company on account of the principal of (or premium, if any) or interest on the Notes or on account of the
purchase or other acquisition of the Notes.

 

(b)            In
the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Note prohibited
by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known
to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith
to the Company.

 

(c)            The
provisions of this Section shall not apply to any payment with respect to which Section 13.2 above would be applicable.”

 

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ARTICLE Seven

 

AMENDMENT,
MODIFICATION AND WAIVER

 

Section 7.1             Solely
with respect to the Notes, Section 9.1 and Section 9.2 of the Base Indenture are amended and supplemented, by replacing
such Sections in the Base Indenture in their entirety with the following: “Section 9.1. Modification of Supplemental
Indentures Without Consent of Holders. Without the consent of any Holders, the Company, when authorized by a Board Resolution,
and the Trustee, at any time and from time to time, may amend the Indenture by entering into an indenture or indentures supplemental
hereto, for any of the following purposes: to evidence
the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company in the
Indenture and in the Notes; or

 

(b)            to
add to the covenants of the Company for the benefit of the Holders of the Notes or to surrender any right or power herein conferred
upon the Company; or

 

(c)            to
add any additional Events of Default for the benefit of the Holders of the Notes; or

 

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

 

(e)            to
add to, change or eliminate any of the provisions of the Indenture, provided that any such addition, change or
elimination (A) shall neither (i) apply to any Note 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 Note with respect to such provision
or (B) shall become effective only when there is no such Note outstanding; or

 

(f)             to
secure the Notes; or

 

(g)            to
establish the form or terms of Notes of any series as permitted by Sections 2.1 and 2.2 hereof; or

 

(h)            to
evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Notes and to add to
or change any of the provisions of the Indenture as shall be necessary to provide for or facilitate the administration of the trusts
under the Indenture by more than one Trustee, pursuant to the requirements of Section 7.8; or

 

(i)             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 the Indenture, provided that
such action pursuant to this Clause (i) shall not adversely affect the interests of the Holders of the Notes in any material
respect, as determined, in good faith, by the Company;

 

(j)             to
conform the terms of the Indenture and the Notes to the section entitled “Description of the Subordinated Notes” in
the Prospectus Supplement (as defined in the Supplemental Indenture); or

 

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(k)            to
implement any Three-Month Term SOFR Conventions or any Benchmark Transition Provisions or Benchmark Conforming Changes determined
by the Calculation Agent after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred (or in anticipation
thereof) (as each of those terms are defined in the Supplemental Indenture).

 

Subject to the provisions of Section 9.7 of the Base Indenture,
the Trustee is authorized to join with the Company in the execution of any such supplemental indenture, to make the further agreements
and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property
or assets thereunder.

 

Section 9.2. Modification of Supplemental
Indentures With Consent of Holders. With the consent of the Holders of not less than a majority in aggregate principal amount
of the outstanding Notes affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee,
the Company, when authorized by a Board Resolution, and the Trustee may amend the Indenture by entering into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Indenture or of modifying in any manner the rights of the Holders of Notes under the Indenture; provided, however, that
no such supplemental indenture shall, without the consent of the Holder of each outstanding Note affected thereby,

 

(a)            change
the Stated Maturity of the principal of, or any installment of principal of or interest on, any Note, or change the timing of an
interest payment on any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable
upon the redemption thereof, or reduce the amount of the principal of any Note which would be due and payable upon an acceleration
of the Maturity thereof pursuant to Section 6.2 of the Base Indenture, or change any Place of Payment under Section 4.1
of the Base Indenture where, or the coin or currency in which, any Note or any premium or interest thereon is payable, or impair
the right of such Holders 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 modify the provisions of the Indenture with respect to the subordination
of the Notes in a manner adverse to Holders of the Notes, or

 

(b)            reduce
the percentage in principal amount of the outstanding Notes, 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 the Indenture or
certain defaults hereunder and their consequences) provided for in the Indenture, or

 

(c)            modify
any of the provisions of this Section or Section 6.5 of the Base Indenture, except to increase any such percentage or
to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holder of each
outstanding Note 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, or
the deletion of this proviso, in accordance with the requirements of Section 7.8 and Section 9.1(h).

 

    26

     

    

 

A supplemental indenture which changes or eliminates any covenant
or other provision of the Indenture which has expressly been included solely for the benefit of the Notes, or which modifies the
rights of the Holders of the Notes with respect to such covenant or other provision, shall be deemed not to affect the rights under
the Indenture of the Holders of Notes of any other series.

 

It shall not be necessary for any Act of Holders under this
Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof.

 

The Company may set a record date for purposes of determining
the identity of the Holders of each series of Notes entitled to give a written consent or waive compliance by the Company as authorized
or permitted by this Section. Such record date shall not be more than 30 days prior to the first solicitation of such consent or
waiver or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation pursuant to Section 312
of the Trust Indenture Act.

 

Promptly after the execution by the Company and the Trustee
of any supplemental indenture pursuant to the provisions of this Section, the Company shall mail a notice, setting forth in general
terms the substance of such supplemental indenture, to the Holders of Notes at their addresses as the same shall then appear in
the Register of the Company. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such supplemental indenture.”

 

Section 7.2             Solely
with respect to the Notes, the following shall be added as Section 9.8 of the Base Indenture:

 

“Section 9.8.     Effect
of Supplemental Indentures. Upon the execution of any supplemental indenture under this Article, the Indenture shall be modified
in accordance therewith, and such supplemental indenture shall form a part of the Indenture for all purposes; and every Holder
of Notes theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.”

 

ARTICLE Eight

 

MERGER,
CONSOLIDATION AND SALE OF ASSETS

 

Solely with respect to the Notes, Article V
of the Base Indenture is amended and supplemented, by replacing such Article in the Base Indenture in its entirety with the
following: “Section 5.1. Company May Consolidate, Etc., Only on Certain Terms.

 

(a)            The
Company shall not consolidate with or merge into any other Person or convey, transfer or lease all or substantially all of its
properties and assets to any Person, unless:

 

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		(i)	the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer,
or which leases, all or substantially all of the properties and assets of the Company shall be a corporation, partnership, limited
liability company or trust, shall be organized and validly existing under the laws of the United States of America, any state thereof
or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee,
the due and punctual payment of the principal of and any premium and interest on all the Notes and the performance or observance
of every covenant of the Indenture on the part of the Company to be performed or observed;

 

		(ii)	immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company
or any Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such
transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default,
shall have occurred and be continuing;

 

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

 

		(iv)	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 such supplemental indenture comply with this Article and that all conditions precedent
herein provided for relating to such transaction have been complied with; and the Trustee may rely on such Officers’ Certificate
and Opinion of Counsel as conclusive evidence that such transaction complies with this Section 5.1.

 

(b)            Upon
any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of
all or substantially all of the properties and assets of the Company in accordance with this Section 5.1, the successor Person
formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed
to, and be substituted for, and may exercise every right and power of, the Company under the Indenture with the same effect as
if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Person
shall be relieved of all obligations and covenants under the Indenture and the Notes.”

 

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ARTICLE Nine

 

DEFEASANCE

 

Section 9.1             Defeasance
Applicable to the Notes. Pursuant to Sections 2.2 and 8.1 of the Base Indenture, provision is hereby made for both
defeasance and covenant defeasance of the Notes, in each case, upon the terms and conditions contained herein.

 

Section 9.2             Solely
with respect to the Notes, Section 8.2 of the Base Indenture is amended and supplemented, by replacing such
Section in the Base Indenture in its entirety with the following: “Section 8.2. Defeasance and
Discharge. The Company shall be deemed to have been discharged from its obligations with respect to the Notes as provided
in this Section on and after the date the conditions set forth in Section 8.4 are satisfied (hereinafter called
 “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and
discharged the entire indebtedness represented by the Notes and to have satisfied all its other obligations under the Notes
and the Indenture insofar as the Notes are concerned (and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged
hereunder: (1) the rights of Holders of the Notes to receive, solely from the trust fund described in Section 8.4
and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on the
Notes when payments are due, (2) the Company’s obligations with respect to the Notes under Sections 2.7, 2.8,
2.11, 4.2 and 7.7 of the Base Indenture (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder
and the Company’s obligations with respect thereto and (4) this Article.”

 

Section 9.3             Solely
with respect to the Notes, Section 8.3 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

“Section 8.3. Covenant Defeasance.
(a)  Any covenants provided pursuant to Section 2.2.21 of the Base Indenture for the benefit of the Holders of the Notes,
and (b) the provisions of Article XIII of the Base Indenture shall cease to be effective, in each case with respect
to the Notes as provided in this Section on and after the date the conditions set forth in Section 8.4 are satisfied
(hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect
to the Notes, 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 or Article XIII of the Base Indenture, whether directly or indirectly by reason
of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of the Indenture and the Notes shall be unaffected thereby.”

 

Section 9.4             Solely
with respect to the Notes, Section 8.4 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

    29

     

    

 

“Section 8.4. Conditions to
Defeasance or Covenant Defeasance. The following shall be the conditions to the application of Section 8.2 and Section 8.3
of the Base Indenture to the Notes:

 

(a)            The
Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee which satisfies the requirements
contemplated by Section 7.10 and agrees to comply with the provisions of this Article applicable to it) as trust funds
in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the
benefits of the Holders of the Notes, (1) money in an amount, or (2) 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 (3) 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 Notes on the Stated Maturity, in accordance with the terms of the Indenture and
the Notes. As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct
obligation of the United States of America for the payment of which the full faith and credit of the United States of America
is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United
States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof,
and (y) any depositary receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian
with respect to any U.S. Government Obligation which is specified in Clause (x) above and held by such bank for the account
of the holder of such depositary receipt, or with respect to any specific payment of principal of or interest on any U.S. Government
Obligation which is so specified and held, provided 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)            In
case of Section 8.2, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (1) the Company
has received from, or there has been published by, the Internal Revenue Service a ruling or (2) since the date of this instrument,
there has been a change in the applicable federal income tax law, in either case (1) or (2) to the effect that, and
based thereon such opinion shall confirm that, the Holders of the Notes will not recognize gain or loss for United States federal
income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to the Notes and will be
subject to United States federal income tax on the same amount, in the same manner and at the same times as would be the case
if such deposit, Defeasance and discharge were not to occur.

 

(c)            In
case of Section 8.3, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders
of the Notes will not recognize gain or loss for United Sates federal income tax purposes as a result of the deposit and Covenant
Defeasance to be effected with respect to the Notes and will be subject to United States federal income tax on the same amount,
in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur.

 

    30

     

    

 

(d)            The
Company shall have delivered to the Trustee an Officers’ Certificate to the effect that the Notes, if then listed on any
securities exchange, will be delisted as a result of such deposit.

 

(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 Notes are in default within the meaning of the Trust Indenture 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 Company is a party or by which it is bound.

 

(g)            Such
Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment company within
the meaning of the Investment Company Act unless such trust shall be registered under such Act or exempt from registration thereunder.

 

(h)            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 9.5             Solely
with respect to the Notes, Section 8.5 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

“Section 8.5. Deposited
Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions. Subject to the provisions of Section 2.5
of the Base Indenture, 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 8.7 of the Base Indenture, the Trustee and
any such other trustee are referred to collectively as the “Trustee”) pursuant to Section 8.4 of the Base Indenture
in respect of any Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of the Notes and
the Indenture, to the payment, either directly or through any such Paying Agent (including the Company acting as its own Paying
Agent) as the Trustee may determine, to the Holders of the Notes, 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. Money and U.S. Government Obligations so held in trust shall not be subject to the provisions of Article XIII of
the Base Indenture, provided that the applicable conditions of Section 8.4 of the Base Indenture have been satisfied.”

 

Section 9.6             Solely
with respect to the Notes, Section 8.6 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

    31

     

    

 

“Section 8.6. Repayment to
Company. Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from
time to time upon Company Order any money or U.S. Government Obligations held by it as provided in Section 8.4 with respect
to any Notes 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 Notes.”

 

Section 9.7              Solely
with respect to the Notes, Section 8.7 of the Base Indenture is amended and supplemented, by replacing such Section in
the Base Indenture in its entirety with the following:

 

“Section 8.7. Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Notes
by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, then the obligations under the Indenture and the Notes from which the Company has been discharged or released pursuant
to Section 8.2 or 8.3 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with
respect to such Notes, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to
Section 8.5 with respect to such Notes in accordance with this Article; provided, however, that if the Company makes
any payment of principal of or any premium or interest on any such Note following such reinstatement of its obligations, the Company
shall be subrogated to the rights (if any) of the Holders of such Notes to receive such payment from the money so held in trust.”

 

Section 9.8              Solely
with respect to the Notes, the following shall be added after Section 8.7 of the Base Indenture:

 

“Section 8.8. Indemnity for
U.S. Government Obligations. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations deposited pursuant to Section 8.4 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
Notes.

 

Section 8.9. Deposits to Be Held
in Escrow. Any deposits with the Trustee referred to in Section 8.2 above shall be irrevocable (except to the extent
provided in Sections 8.6 and 8.10) and shall be made under the terms of an escrow trust agreement. If any outstanding Securities
of a series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance
with any mandatory or optional sinking fund requirement, the applicable escrow trust agreement shall provide therefor and the
Company shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption in the name, and
at the expense, of the Company. The agreement shall provide that, upon satisfaction of any mandatory sinking fund payment requirements,
whether by deposit of moneys, applications of proceeds of deposited U.S. Government Obligations or, if permitted, by delivery
of Securities, the Trustee shall pay or deliver over to the Company as excess moneys pursuant to Section 8.6 all funds or
obligations then held under the agreement and allocable to the sinking fund payment requirements so satisfied.

 

    32

     

    

 

If Securities of a series with respect to
which such deposits are made may be subject to later redemption at the option of the Company or pursuant to optional sinking fund
payments, the applicable escrow trust agreement may, at the option of the Company, provide therefor. In the case of an optional
redemption in whole or in part, such agreement shall require the Company to deposit with the Trustee on or before the date notice
of redemption is given funds sufficient to pay the Redemption Price of the Securities to be redeemed together with all unpaid
interest thereon to the Redemption Date. Upon such deposit of funds, the Trustee shall pay or deliver over to the Company as excess
funds pursuant to Section 8.6 all funds or obligations then held under such agreement and allocable to the Securities to
be redeemed. In the case of exercise of optional sinking fund payment rights by the Company, such agreement shall, at the option
of the Company, provide that upon deposit by the Company with the Trustee of funds pursuant to such exercise the Trustee shall
pay or deliver over to the Company as excess funds pursuant to Section 8.6 all funds or obligations then held under such
agreement for such series and allocable to the Securities to be redeemed.

 

Section 8.10. Application of Trust
Money.

 

(a)            Neither
the Trustee nor any other Paying Agent shall be required to pay interest on any moneys deposited pursuant to the provisions of
this Indenture, except such as it shall agree with the Company in writing to pay thereon. Subject to applicable law, any moneys
so deposited for the payment of the principal of, or premium, if any, or interest on the Securities of any series and remaining
unclaimed for two years after the date of the maturity of the Securities of such series or the date fixed for the redemption of
all the Securities of such series at the time outstanding, as the case may be, shall be repaid by the Trustee or such other Paying
Agent to the Company upon its written request and thereafter, anything in this Indenture to the contrary notwithstanding, any
rights of the Holders of Securities of such series in respect of which such moneys shall have been deposited shall be enforceable
only against the Company, and all liability of the Trustee or such other Paying Agent with respect to such moneys shall thereafter
cease.

 

(b)            Subject
to the provisions of the foregoing paragraph, any moneys which at any time shall be deposited by the Company or on its behalf
with the Trustee or any other Paying Agent for the purpose of paying the principal of, premium, if any, and interest on any of
the Securities shall be and are hereby assigned, transferred and set over to the Trustee or such other Paying Agent in trust for
the respective Holders of the Securities for the purpose for which such moneys shall have been deposited.

 

Section 8.11. Deposits of Non-U.S.
Currencies. Notwithstanding the foregoing provisions of this Article, if the Securities of any series are payable in a Currency
other than U.S. Dollars, the Currency or the nature of the government obligations to be deposited with the Trustee under the foregoing
provisions of this Article shall be as set forth in a Board Resolution, a Company Order or in one or more supplemental indentures
hereto.”

 

Section 9.9              Solely
with respect to the Notes, Article X of the Base Indenture is deleted in its entirety.

 

    33

     

    

 

ARTICLE TEN

 

MISCELLANEOUS

 

Section 10.1            Application
of Supplemental Indenture. Each and every term and condition contained in this Supplemental Indenture that modifies,
amends or supplements the terms and conditions of the Base Indenture shall apply only to the Notes created hereby and not to any
future series of Securities established under the Base Indenture.

 

Section 10.2            Benefits
of this Supplemental Indenture. Nothing contained in this Supplemental Indenture or in the Notes, express or implied,
shall give to any Person, other than the parties to the Indenture, any Registrar, any Paying Agent, any Authenticating Agent and
their successors under the Indenture, and the Holders, any benefit or any legal or equitable right, remedy or claim under the
Base Indenture or this Supplemental Indenture.

 

Section 10.3            Modification
of the Base Indenture. Except as expressly provided by this Supplemental Indenture, the provisions of the Base Indenture
shall govern the terms and conditions of the Notes.

 

Section 10.4            Effective
Date. This Supplemental Indenture shall be effective as of the date first above written and upon the execution and
delivery hereof by each of the parties hereto.

 

Section 10.5            Counterparts.
This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument.

 

Section 10.6            Successors
and Assigns. All covenants and agreements in the Indenture, as supplemented and amended by this Supplemental Indenture,
by the Company will bind its successors and assigns, whether so expressed or not.

 

Section 10.7            Effect
of Headings. The Article and Section headings in this Supplemental Indenture are for convenience only and
shall not affect the construction hereof.

 

Section 10.8            Separability
Clause. In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 10.9            Satisfaction
and Discharge of Indenture. The Indenture, with respect to the Notes, shall cease to be of further effect (except as
to any surviving rights of registration of transfer or exchange of Notes expressly provided for and rights to receive payments
of principal of and premium, if any, and interest on the Notes) upon compliance with the provisions of Sections 8.2 and 8.3 relating
to the satisfaction and discharge of the Indenture.

 

Section 10.10          Ratification
of the Base Indenture. The Base Indenture as supplemented by this Supplemental Indenture, is in all respects ratified
and confirmed, and this Supplemental Indenture will be deemed part of the Indenture in the manner and to the extent herein and
therein provided. The Base Indenture and this Supplemental Indenture shall be read, taken and construed as one and the same instrument.
All provisions included in this Supplemental Indenture supersede any conflicting provisions included in the Base Indenture unless
not permitted by law. The Trustee accepts the trusts created by the Base Indenture, as supplemented by this Supplemental Indenture,
and agrees to perform the same upon the terms and conditions of the Base Indenture, as supplemented by this Supplemental Indenture.

 

    34

     

    

 

Section 10.11          Governing
Law. This Supplemental Indenture and the Notes shall be governed by, and construed in accordance with, the laws of
the State of New York. The parties hereby (i) irrevocably submit to the non-exclusive jurisdiction of any federal or state
court sitting in the Borough of Manhattan, the city of New York, (ii) waive any objection to laying of venue in any such
action or proceeding in such courts, and (iii) waive any objection that such courts are an inconvenient forum or do not have
jurisdiction over any party.

 

Each of the parties hereto hereby waives
the right to trial by jury with respect to any litigation directly or indirectly arising out of, under or in connection with this
Supplemental Indenture.

 

Section 10.12          Trustee
Disclaimer. The Trustee accepts the amendments of the Base Indenture effected by this Supplemental Indenture, but on
the terms and conditions set forth in the Base Indenture, including the terms and provisions defining and limiting the liabilities
and responsibilities of the Trustee. Without limiting the generality of the foregoing, the Trustee shall not be responsible in
any manner whatsoever for or with respect to (i) any of the recitals contained herein, all of which recitals are made solely
by the Company, (ii) the proper authorization hereof by the Company by action or otherwise, (iii) the due execution
hereof by the Company or (iv) the consequences of any amendment herein provided for.

 

    35

     

    

 

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

 

	 	FLAGSTAR BANCORP, INC.
	 	 	 
	 	 	 
	 	By:	/s/ James K. Ciroli
	 	Name:	James K. Ciroli
	 	Title:	Executive Vice President and Chief Financial Officer

 

 

	Attest:	/s/ Allesandro P. DiNello	 
	Name:
    	Alessandro
    P. DiNello	 
	Title:	President
    and Chief Executive Officer	 

 

	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	 	 
	 	By:	/s/ Michael Wass
	 	Name:	Michael Wass
	 	Title:	Vice President

 

    

     

    

 

 

EXHIBIT A

 

FORM OF FACE OF 4.125% FIXED-TO-FLOATING
RATE

SUBORDINATED NOTES DUE 2030

 

THE FOLLOWING LEGEND SHALL APPEAR ON THE FACE OF EACH GLOBAL
SECURITY:

 

THIS SECURITY IS AN UNSECURED SUBORDINATED
DEBT OBLIGATION OF FLAGSTAR BANCORP, INC. (THE “COMPANY”). THIS SECURITY IS NOT A DEPOSIT OR SAVINGS ACCOUNT AND
IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY.
THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY
OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE NOMINEE OF THE DEPOSITARY OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO THE NOMINEE OF THE DEPOSITARY OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, THE NOMINEE OF THE DEPOSITARY, HAS AN INTEREST HEREIN.

 

    A-1

     

    

 

FLAGSTAR BANCORP, INC.

 

4.125% Fixed-to-Floating Rate Subordinated
Notes due 2030

 

	 	 	 
	No. 	 	U.S.$

 

CUSIP NO.

ISIN NO.

 

FLAGSTAR BANCORP, INC.,
a corporation duly organized and existing under the laws of the State of Michigan (herein called the “Company,” which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to                
, or registered assigns, the principal sum of                 
U.S. Dollars on November 1, 2030 (such date is hereinafter referred to as the “Stated Maturity Date”), unless
redeemed prior to such date, and to pay interest thereon (i) from, and including, October 28, 2020, to, but excluding,
November 1, 2025, unless redeemed prior to such date, at an initial fixed rate of 4.125% per annum, semi-annually in arrears
on May 1 and November 1 of each year, commencing                  (each
such date, a “Fixed Rate Interest Payment Date,” with the period from, and including, October 28, 2020 to, but
excluding, the first Fixed Rate Interest Payment Date and each successive period from, and including, a Fixed Rate Interest Payment
Date to, but excluding, the next Fixed Rate Interest Payment Date being a “Fixed Rate Period”) and (ii) from,
and including, November 1, 2025 to, but excluding, the Stated Maturity Date, unless redeemed subsequent to November 1,
2025 but prior to the Stated Maturity Date, at a rate equal to Three-Month Term SOFR, reset quarterly, plus 391 basis points, or
such other rate as determined pursuant to the Supplemental Indenture, payable quarterly in arrears on February 1, May 1,
August 1 and November 1 of each year through the Stated Maturity Date or earlier Redemption Date (each, a “Floating
Rate Interest Payment Date” and, together with the Fixed Rate Interest Payment Dates, the “Interest Payment Dates,”
with the period from, and including, November 1, 2025 to, but excluding, the first Floating Rate Interest Payment Date and
each successive period from, and including a Floating Rate Interest Payment Date to, but excluding, the next Floating Rate Interest
Payment Date being a “Floating Rate Period”). The amount of interest payable on any Fixed Rate Interest Payment Date
during the Fixed Rate Period will be computed on the basis of a 360-day year consisting of twelve 30-day months up to, but excluding
November 1, 2025, and, the amount of interest payable on any Floating Rate Interest Payment Date during the Floating Rate
Period will be computed on the basis of a 360-day year and the number of days actually elapsed. In the event that any scheduled
Interest Payment Date for this Security falls on a day that is not a Business Day, then payment of interest payable on such Interest
Payment Date will be paid on the next succeeding day which is a Business Day (any payment made on such date will be treated as
being made on the date that the payment was first due and no interest on such payment will accrue for the period from and after
such scheduled Interest Payment Date); provided, that in the event that any scheduled Floating Rate Interest Payment Date falls
on a day that is not a Business Day and the next succeeding Business Day falls in the next succeeding calendar month, such Floating
Rate Interest Payment Date will be accelerated to the immediately preceding Business Day, and, in each such case, the amounts payable
on such Business Day will include interest accrued to, but excluding, such Business Day. All percentages used in or resulting from
any calculation of Three-Month Term SOFR shall be rounded, if necessary, to the nearest one hundred-thousandth of a percentage
point, with 0.000005% rounded up to 0.00001%.

 

    A-2

     

    

 

The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on the fifteenth calendar day (whether
or not a Business Day) immediately preceding the applicable Interest Payment Date. Any such interest not so punctually paid or
duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person
in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Company, 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.

 

Payment of the principal of (and premium,
if any) and interest on this Security will be made at the corporate trust office of the Trustee or at the office of any paying
agent that the Company may designate, 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.

 

Reference is hereby made to the further provisions
of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set
forth at this place.

 

Unless the certificate of authentication hereon
has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

 

IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed.

 

[Signature Page Follows]

 

    A-3

     

    

 

 

	 	FLAGSTAR BANCORP, INC.
	 	 
	Dated:	 
	 	 
	 	By:	     
	 	Name:	                      
	 	Title:	 

 

 

(Trustee’s Certificate of Authentication)

 

This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.

 

	 	WILMINGTON TRUST, NATIONAL ASSOCIATION,
	 	 as Trustee
	 	 
	 	 
	Dated:	By:	 
	 	 	Authorized Officer
	 	 	 

 

    A-4

     

    

 

[FORM OF REVERSE SIDE OF THE NOTE]

 

This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series
under an Indenture, dated as of October 28, 2020, as supplemented by a First Supplemental Indenture dated as of October 28,
2020 (herein collectively called the “Indenture,” which term shall have the meaning assigned to it in such instrument),
between the Company and Wilmington Trust, National Association, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), and reference is hereby made to the Indenture (as amended from time to time)
for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee,
the holders of Senior Indebtedness 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.

 

The indebtedness evidenced by this Security
is, to the extent provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of all Senior
Indebtedness, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this
Security, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the
Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided
and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her
acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by
each holder of Senior Indebtedness, whether now outstanding or hereafter created, incurred, assumed or guaranteed, and waives reliance
by each such holder upon said provisions.

 

The Indenture contains provisions for defeasance
at any time of certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance
with certain conditions set forth in the Indenture.

 

If an Event of Default with respect to Securities
of this series shall occur and be continuing, the principal of the Securities shall be immediately accelerated in the manner and
with the effect provided in the Indenture.

 

The Company may, at its option, redeem the
Securities, in whole or in part, at a redemption price equal to 100% of the principal amount of the Securities to be redeemed,
plus accrued and unpaid interest (the “Redemption Price”) to, but excluding, the date of redemption (the “Redemption
Date”), on any Interest Payment Date on or after November 1, 2025. The Company may also, at its option, redeem the Securities
before the Stated Maturity Date, in whole, but not in part, at any time, within 90 days following the occurrence of a Tier 2 Capital
Event, a Tax Event or if the Company is required to register as an investment company pursuant to the Investment Company Act of
1940, as amended. Any such redemption will be at a redemption price equal to the Redemption Price to, but excluding, the Redemption
Date fixed by the Company.

 

Notwithstanding any of the foregoing, to the
extent then required under or pursuant to applicable regulations of the Federal Reserve (or, as and if applicable, the rules of
any appropriate successor bank regulatory agency), this Security may not be repaid prior to the Stated Maturity Date without the
prior written consent of the Federal Reserve (or, as and if applicable, the rules of any appropriate successor bank regulatory
agency). In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. The provisions
of Article III of the Base Indenture and Section 3.5 of the Supplemental Indenture shall apply to the redemption of any
Securities by the Company.

 

    A-5

     

    

 

In the event that any payment on the Securities
is subject to withholding of any U.S. federal income tax or other tax or assessment (as a result of a change in law or otherwise),
the Company will not pay additional amounts with respect to such tax or assessment.

 

The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of
the Holders of the Securities at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate
principal amount of the Securities at the time outstanding of each series to be affected. The Indenture also contains provisions
permitting the Holders of a specified percentage in principal amount of the Securities at the time outstanding, on behalf of the
Holders of all Securities, to waive compliance by the Company 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.

 

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 and offered the Trustee indemnity 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 shall have failed to institute any such proceeding, for 60 days after receipt of
such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security
for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed
herein.

 

No reference herein to the Indenture and no
provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency,
herein prescribed.

 

As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of
this Security for registration of transfer at the office or agency of the Company maintained under Section 4.2 of the Indenture
for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and
the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities
of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees.

 

    A-6

     

    

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and integral multiples of $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 like tenor of a different authorized denomination, as requested by the Holder
surrendering the same.

 

No service charge shall be made for any such
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

 

Prior to due presentment of this Security
for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

This Security shall be governed by and construed
in accordance with the laws of the State of New York.

 

All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

    A-7

     

    

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
NOTE

 

The initial
principal amount of this Global Note is $            .
The following increases or decreases in the principal amount of this Global Note have been made:

 

	Date	 	Amount of
 decrease in
 principal amount
 of this
 Global Note	 	Amount of
 increase in
 principal amount
 of this
 Global Note	 	Principal
 amount
 of this
 Global Note
 following such
 decrease
 or increase	 	Signature of
 authorized
 signatory of
 Trustee
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    A-8

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