Document:

First Supplemental Indenture, dated September 19, 2012

 Exhibit 4(s) 
 GENESEE & WYOMING INC. 
 4.50% Senior Amortizing Notes due 2015

 First Supplemental Indenture 
 Dated as of September 19, 2012 
 Supplement to Indenture Dated as of
September 19, 2012 
 WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Trustee 

 TABLE OF CONTENTS 

 
  

 

					
	  	  	PAGE	 
		
	 ARTICLE 1
	  			
	 SCOPE OF SUPPLEMENTAL INDENTURE;
GENERAL
	  			
	 Section 1.01. Scope of Supplemental Indenture; General
	  	 	2	  
		
	 ARTICLE 2
	  			
	 CERTAIN DEFINITIONS
	  			
	 Section 2.01. Certain Definitions
	  	 	2	  
	 Section 2.02. Rules of Construction
	  	 	7	  
		
	 ARTICLE 3
	  			
	 COVENANTS
	  			
	 Section 3.01. Annual Reports
	  	 	7	  
	 Section 3.02. Reports
	  	 	8	  
	 Section 3.03. Limitations on Mergers, Consolidations and Sales of Assets
	  	 	8	  
	 Section 3.04. Applicability of Covenants Contained in the Base Indenture
	  	 	9	  
		
	 ARTICLE 4
	  			
	 DEFAULTS AND REMEDIES
	  			
	 Section 4.01. Base Indenture
	  	 	9	  
	 Section 4.02. Events of Default
	  	 	9	  
	 Section 4.03. Notice of Defaults
	  	 	12	  
	 Section 4.04. Waiver of Past Defaults
	  	 	12	  
	 Section 4.05. Control by Holders
	  	 	13	  
	 Section 4.06. Rights of the Trustee
	  	 	13	  
	 Section 4.07. Limitation on Suits
	  	 	13	  
	 Section 4.08. Rights of Holders to Receive Installment Payments
	  	 	14	  
	 Section 4.09. Collection Suit by Trustee
	  	 	14	  
	 Section 4.10. Trustee May File Proofs of Claim
	  	 	14	  
	 Section 4.11. Priorities
	  	 	15	  
	 Section 4.12. Restoration of Rights and Remedies
	  	 	15	  
	 Section 4.13. Undertaking for Costs
	  	 	15	  
	 Section 4.14. Rights and Remedies Cumulative
	  	 	15	  
	 Section 4.15. Delay or Omission Not Waiver
	  	 	16	  
	 Section 4.16. Waiver of Stay, Extension or Usury Laws
	  	 	16	  

  
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	 ARTICLE 5
	  			
	 DISCHARGE AND DEFEASANCE
	  			
	 Section 5.01. Base Indenture
	  	 	16	  
	 Section 5.02. Discharge
	  	 	16	  
	 Section 5.03. Legal Defeasance
	  	 	17	  
	 Section 5.04. Covenant Defeasance
	  	 	17	  
	 Section 5.05. Conditions to Legal or Covenant Defeasance
	  	 	18	  
	 Section 5.06. Application of Trust Money
	  	 	19	  
	 Section 5.07. Repayment to Company
	  	 	19	  
	 Section 5.08. Reinstatement
	  	 	19	  
	 Section 5.09. Provisions to Survive Defeasance and Discharge
	  	 	20	  
		
	 ARTICLE 6
	  			
	 THE NOTES
	  			
	 Section 6.01. Form of Notes
	  	 	20	  
	 Section 6.02. Installment Payments
	  	 	21	  
	 Section 6.03. Depositary
	  	 	22	  
	 Section 6.04. Certificated Notes
	  	 	23	  
		
	 ARTICLE 7
	  			
	 REDEMPTION / CONVERSION / SINKING
FUNDS
	  			
	 Section 7.01. Inapplicable Provisions of Base Indenture
	  	 	24	  
		
	 ARTICLE 8
	  			
	 REPURCHASE OF NOTES AT
THE OPTION OF THE HOLDER
	  			
	 Section 8.01. Offer to Repurchase
	  	 	24	  
	 Section 8.02. Early Mandatory Settlement Notice and Merger Redemption Notice
	  	 	24	  
	 Section 8.03. Procedures for Exercise
	  	 	25	  
	 Section 8.04. Withdrawal of Repurchase Notice
	  	 	25	  
	 Section 8.05. Effect of Repurchase
	  	 	26	  
		
	 ARTICLE 9
	  			
	 TAX TREATMENT
	  			
	 Section 9.01. Tax Treatment
	  	 	27	  

					
	 ARTICLE 10
	  			
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	  			
	 Section 10.01. Base Indenture
	  	 	27	  
	 Section 10.02. Amendments Without Consent of Holders
	  	 	27	  
	 Section 10.03. Amendments With Consent of Holders
	  	 	28	  
	 Section 10.04. Payments for Consents
	  	 	29	  
	 ARTICLE 11
	  			
	 MISCELLANEOUS
	  			
	 Section 11.01. GOVERNING LAW
	  	 	29	  
	 Section 11.02. No Adverse Interpretation of Other Agreements
	  	 	29	  
	 Section 11.03. Successors and Assigns
	  	 	29	  
	 Section 11.04. Counterparts
	  	 	29	  
	 Section 11.05. Severability
	  	 	29	  
	 Section 11.06. Effect of Headings
	  	 	30	  
	 Section 11.07. Conflict of Any Provision of Indenture with TIA
	  	 	30	  
	 Section 11.08. Ratification of Indenture
	  	 	30	  
	 Section 11.09. Waiver of Jury Trial
	  	 	30	  
	 Section 11.10. Further Amendments
	  	 	30	  
		
	 EXHIBIT:
	  			

	A.	Form of Note 

 FIRST SUPPLEMENTAL INDENTURE dated as of September 19, 2012 (“Supplemental
Indenture”) between GENESEE & WYOMING INC., a Delaware corporation, as issuer (the “Company”) and Wilmington Trust, National Association, as trustee (the “Trustee”), supplementing the Indenture
dated as of September 19, 2012 between the Company and Wilmington Trust, National Association (the “Base Indenture” and, as supplemented by this Supplemental Indenture, the “Indenture”). 

RECITALS OF THE COMPANY: 
 WHEREAS, the Company has duly authorized the execution and delivery of the Base Indenture to provide for the issuance from time to time of the Company’s unsecured senior debt securities (the
“Securities”); 
 WHEREAS, the Company desires and has requested the Trustee to join it in the execution and
delivery of this Supplemental Indenture in order to establish and provide for the issuance by the Company of a series of Securities designated as its 4.50% Senior Amortizing Notes due 2015 (the “Notes,” and each $14.1023 of initial
principal amount of such Securities, a “Note”), substantially in the form attached hereto as Exhibit A, on the terms set forth herein; 
 WHEREAS, the Company now wishes to issue Notes in an initial aggregate principal amount of $32,435,290.00, each Note initially to be issued as a component of the Units (as defined herein) being issued on
the date hereof by the Company pursuant to the Purchase Contract Agreement, dated as of September 19, 2012, among the Company, Wilmington Trust, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of
Purchase Contracts from time to time and Wilmington Trust, National Association, as Trustee (the “Purchase Contract Agreement”); 
 WHEREAS, Section 11.01 of the Base Indenture provides that a supplemental indenture may be entered into without the consent of the holders of any Securities by the Company and the Trustee for such
purpose provided certain conditions are met; 
 WHEREAS, the conditions set forth in the Base Indenture for the execution and
delivery of this Supplemental Indenture have been complied with; and 
 WHEREAS, all things necessary to make this Supplemental
Indenture a valid agreement of the Company and the Trustee, in accordance with its terms, and a valid amendment of, and supplement to, the Base Indenture have been done; 

 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

In consideration of the premises and the purchase and acceptance of the Notes by the Holders thereof, the Company covenants and agrees
with the Trustee, for the equal and ratable benefit of the Holders of the Notes, that the Base Indenture is supplemented and amended, to the extent expressed herein, as follows: 

ARTICLE 1 

SCOPE OF SUPPLEMENTAL INDENTURE; GENERAL 

Section 1.01. Scope of Supplemental Indenture; General. This Supplemental Indenture supplements, and to the extent
inconsistent therewith, replaces the provisions of the Base Indenture, to which provisions reference is hereby made. 
 The
changes, modifications and supplements to the Base Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and govern the terms of, the Notes (which shall be initially in the aggregate principal amount of
$32,435,290.00) and shall not apply to any other Securities that may be issued under the Indenture unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements. Pursuant
to this Supplemental Indenture, there is hereby created and designated a series of Securities under the Indenture entitled “4.50% Senior Amortizing Notes due 2015.” The Notes may be issued in accordance with the provisions of Article Three
of the Base Indenture, as modified pursuant to the terms hereof. 
 ARTICLE 2 

CERTAIN DEFINITIONS 
 Section 2.01. Certain Definitions. Section 1.01 of the Base Indenture is hereby amended by adding the following definitions in their proper alphabetical order which, in the event of a
conflict with the definition of terms in the Base Indenture, shall govern. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Base Indenture. 

“Bankruptcy Law” means title 11 of the United States Code, as amended, or any similar foreign, federal or state law for
the relief of debtors. 
 “Base Indenture” has the meaning ascribed to it in the preamble hereof. 

“Business Day” means any day other than a Saturday, Sunday or any day on which banking institutions in New York, New
York are authorized or obligated by applicable law or executive order to close or be closed. 

  
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 “Certificated Note” means a Note in definitive registered form without
interest coupons. 
 “Class A Common Stock” means the Class A common stock, par value $0.01 per share, of
the Company as it existed on the Issue Date. 
 “close of business” means 5:00 p.m. (New York City time).

 “Company” has the meaning ascribed to it in the preamble hereof and shall also refer to any successor
obligor under the Indenture. 
 “Component Note” means a Note in global form and attached to a Global Unit that
(a) shall evidence the number of Notes specified therein that are components of the Units evidenced by such Global Unit, (b) shall be registered on the Security Register in the name of Wilmington Trust, National Association, as
attorney-in-fact of holder(s) of the Units of which such Notes form a part, and (c) shall be held by the Purchase Contract Agent as attorney-in-fact for such holder(s), together with the Global Unit, as custodian of such Global Unit for the
Depositary. 
 “Covenant Defeasance” has the meaning ascribed to it in Section 5.04. 

“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Default” means any event, act or condition that is, or after notice or the lapse of time or both would be, an Event of
Default. 
 “DTC” has the meaning ascribed to such term in Section 6.03 hereof. 

“Early Mandatory Settlement Date” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Early Mandatory Settlement Notice” has the meaning ascribed to it in the Purchase Contract Agreement. 

“Early Mandatory Settlement Right” has the meaning ascribed to it in the Purchase Contract Agreement. 

“EDGAR” means the Electronic Data-Gathering, Analysis, and Retrieval system of the Commission. 

“Event of Default” means any event specified as such in Section 4.02(a) hereof. 

  
 3 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
any statute successor thereto, in each case as amended from time to time, together with the rules and regulations promulgated thereunder. 
 “Fundamental Change” has the meaning ascribed to such term in the Purchase Contract Agreement. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant segment of the accounting profession of the United States, as in effect on
the Issue Date. 
 “Global Note” has the meaning ascribed to such term in Section 6.01(b) hereof.

 “Global Note Holder” has the meaning ascribed to such term in Section 6.03 hereof. 

“Global Unit” has the meaning ascribed to such term in the Purchase Contract Agreement. 

“Holder”, “Holder of Securities”, “securityholder” and similar terms mean in the case
of a Note, the Person in whose name such Note is registered in the books of the security register for the Notes. 

“Indenture” has the meaning ascribed to it in the preamble hereof. 

“Initial Principal Amount” means $14.1023 per Note. 

“Installment Payment” has the meaning ascribed to it in Section 6.02(a). 

“Installment Payment Date” means each January 1, April 1, July 1 and October 1, commencing
on January 1, 2013 and ending on the Maturity Date. 
 “Installment Payment Period” means the period from,
and including, the Issue Date to, but excluding, the first Installment Payment Date and each subsequent full quarterly period from, and including, an Installment Payment Date to, but excluding, the immediately succeeding Installment Payment Date.

 “Issue Date” means September 19, 2012. 

“Legal Defeasance” has the meaning ascribed to it in Section 5.03. 

“Maturity Date” means October 1, 2015. 

  
 4 

 “Merger Redemption Notice” has the meaning ascribed to it in the Purchase
Contract Agreement. 
 “Merger Redemption Settlement Date” has the meaning ascribed to it in the Purchase
Contract Agreement. 
 “Merger Termination Redemption” has the meaning ascribed to it in the Purchase Contract
Agreement. 
 “Note” and “Notes” have the respective meanings ascribed to such terms in the
preamble hereof and includes, for the avoidance of doubt, both Separate Notes and Notes that constitute part of a Unit. 

“Paying Agent” refers to a Person engaged to perform the obligations of the Trustee in respect of payments made or funds
held hereunder in respect of the Notes. 
 “Purchase Contract” means a prepaid stock purchase contract
obligating the Company to deliver shares of Class A Common Stock on the terms and subject to the conditions set forth in the Purchase Contract Agreement. 
 “Purchase Contract Agent” means Wilmington Trust, National Association, until a successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of the
Purchase Contract Agreement, and thereafter “Purchase Contract Agent” shall mean such Person. 

“Purchase Contract Agreement” has the meaning ascribed to it in the preamble hereof. 

“Regular Record Date” means, with respect to any January 1, April 1, July 1 or October 1
Installment Payment Date, the immediately preceding December 15, March 15, June 15 or September 15, respectively. 
 “Repurchase Date” means a date specified by the Company in the Early Mandatory Settlement Notice or Merger Redemption Notice, as the case may be, which date shall be at least 20 but not
more than 45 Business Days following the date of the Early Mandatory Settlement Notice or the date of the Merger Redemption Notice, as the case may be, and which may or may not fall on the Early Mandatory Settlement Date or Merger Redemption
Settlement Date, as the case may be. 
 “Repurchase Notice” means a notice in the form entitled “Form of
Repurchase Notice” on the reverse side of the Notes. 

  
 5 

 
“Repurchase Price” means, with respect to a Note to be repurchased pursuant to Article 8, an amount equal to the principal amount of such Note as of the Repurchase Date,
plus accrued and unpaid interest, if any, on such principal amount from, and including, the immediately preceding Installment Payment Date (or, if none, from, and including, the Issue Date) to, but not including, such Repurchase Date,
calculated at an annual rate of 4.50%; provided that, if the Repurchase Date falls after a Regular Record Date and on or prior to the immediately succeeding Installment Payment Date, the Installment Payment payable on such Installment Payment
Date will be paid on such Installment Payment Date to the Holder as of such Regular Record Date and shall not be included in the Repurchase Price per Note. 
 “Repurchase Right” has the meaning ascribed to it in Section 8.01. 
 “Responsible Officer” means, with respect to the Trustee, any officer within the Corporate Trust Office having direct responsibility for the administration of this Indenture, and also,
with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 
 “Securities” has the meaning ascribed to it in the preamble hereof. 
 “Separate Note” means a Note that has been separated from a Unit in accordance with the terms of the Purchase Contract Agreement. 

“Separate Purchase Contract” means a Purchase Contract that has been separated from a Unit in accordance with the terms
of the Purchase Contract Agreement. 
 “Significant Subsidiary” means any subsidiary of the Company which would
constitute a “significant subsidiary” as defined in Rule 1-02(w)(1) or (2) of Regulation S-X under the Securities Act and the Exchange Act. 
 “Successor Corporation” has the meaning ascribed to it in Section 3.05(b)(i). 
 “Supplemental Indenture” has the meaning ascribed to it in the preamble hereof. 
 “TIA” means the Trust Indenture Act of 1939, as amended from time to time. 
 “Trustee” means the party named in the preamble hereof until a successor replaces such party in accordance with the applicable provisions of the Indenture and thereafter means the
successor serving hereunder. 

  
 6 

 “Unit” means the collective rights of a Holder of a 5.00% Tangible Equity
Unit, with a stated amount of $100, issued by the Company pursuant to the Purchase Contract Agreement, each consisting of a single Purchase Contract and a single Note prior to separation or subsequent to recreation thereof pursuant to the Purchase
Contract Agreement. 
 Section 2.02. Rules of Construction. Unless the context otherwise requires or except as
otherwise expressly provided, an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP. 

ARTICLE 3 

COVENANTS 
 Section 3.01. Annual Reports. The Company is required to deliver, within 120 calendar days after the end of each fiscal year (which as of the Issue Date is December 31), to the Trustee an
Officers’ Certificate (one of the signers of which shall be the principal executive officer, principal financial officer or principal accounting officer of the Company) regarding compliance with the

  
 7 

 
Indenture, and include in such statement, if any officer of the Company is aware of any Default or Event of Default, a statement specifying such Default or Event of Default and what action the
Company is taking or proposes to take with respect thereto. This Section 3.01 shall replace the provisions contained in Section 12.02 of the Base Indenture in their entirety and all references to Section 12.02 of the Base Indenture or
any provision thereof shall be deemed, for the purposes of the Notes, to be references to this Section 3.01. 

Section 3.02. Reports. For purposes of Section 7.04 of the Base Indenture, with respect to the Notes, (A) documents
filed by the Company with the Commission via EDGAR shall be deemed to be filed with the Trustee as of the time such documents are filed via EDGAR, provided, however, that the Trustee shall have no obligation whatsoever to determine if
such filing has occurred and (B) for the avoidance of doubt, the determination of the date on which the Company is required to file any information, documents or reports with the Commission shall give effect to any grace period provided by Rule
12b-25 under the Exchange Act. Delivery of reports, information and documents to the Trustee pursuant to Section 7.04 of the Base Indenture is for informational purposes only and the Trustee’s receipt of such reports, information or
documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants under the Indenture (as to which the
Trustee is entitled to conclusively rely exclusively on an Officers’ Certificate). 
 Section 3.03. Limitations on
Mergers, Consolidations and Sales of Assets. (a) This Section 3.03 shall replace the provisions contained in Article Ten of the Base Indenture in their entirety and all references to Article Ten in the Base Indenture or any provision
thereof shall be deemed, for the purposes of the Notes, to be references to this Section 3.03. 
 (b) The Company shall not
consolidate with or merge with or into or wind up into, whether or not the Company is the surviving corporation, or sell, assign, convey, transfer or lease its properties and assets substantially as an entirety to any Person in one transaction or a
series of related transactions, unless: 
 (i) the successor corporation formed by such consolidation or into
which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety (the “Successor Corporation,” which, for the avoidance of
doubt, may be the Company) (A) is an entity organized and existing under the laws of the United States or any State thereof or the District of Columbia and (B) expressly assumes by an indenture supplemental hereto, executed and delivered
to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of all Installment Payments on the Notes and the performance of every covenant in the Indenture on the part of the Company to be performed or observed; 

  
 8 

 (ii) immediately after giving effect to such transaction, no Default or
Event of Default shall have happened and be continuing; and 
 (iii) the Company has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such merger, consolidation, sale, assignment, transfer, lease or conveyance comply with the Indenture and that all conditions precedent provided for in the Indenture related to
such transaction have been complied with. 
 (c) Upon the consummation of any transaction effected in accordance with these
provisions, if the Company is not the continuing Person, the Successor Corporation will succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture and the Notes with the same effect as if such
Successor Corporation had been named as the Company in the Indenture. Upon such substitution, the Company will be released from its obligations under the Indenture and the Notes, provided that in the case of a lease of all or substantially
all of the Company’s assets, the Company shall not be released from its obligations under the Indenture and the Notes. 

Section 3.04. Applicability of Covenants Contained in the Base Indenture. Each of the agreements and covenants of the Company
contained in Article Twelve of the Base Indenture, except as specified herein, shall apply to the Notes. 
 ARTICLE 4 

DEFAULTS AND REMEDIES 

Section 4.01. Base Indenture. This Article 4 supersedes in its entirety Article Five of the Base Indenture and any reference
in the Base Indenture to such Article Five or any provision thereof shall be deemed, for the purposes of the Notes, to refer to this Article 4 or the corresponding provision herein, as the case may be. 

Section 4.02. Events of Default.  
 (a) “Event of Default” means any one or more of the following events: 
 (i) the failure by the Company to pay any Installment Payment on any Notes as and when the same shall become due and payable and continuance of such failure for a period of 30 calendar days; 

  
 9 

 (ii) the failure by the Company to pay the Repurchase Price of any Notes
when the same shall become due and payable; 
 (iii) the failure by the Company to give notice of a Fundamental
Change when any such notice is due pursuant to the terms of the Purchase Contract Agreement; 
 (iv) the failure
by the Company to comply with any of its other agreements or covenants in, or provisions of, the Notes or the Indenture and such failure continues for the period and after the notice specified in Section 4.02(b) below; 

(v) the acceleration of any indebtedness of the Company that has an outstanding principal amount of $50 million (or the
foreign currency equivalent thereof) or more, individually or in the aggregate, and such acceleration does not cease to exist, or such indebtedness is not satisfied, in either case within 30 calendar days after such acceleration; 

(vi) the failure by the Company to make any principal or interest payment in an amount of $50 million (or the foreign
currency equivalent thereof) or more, individually or in the aggregate, in respect of indebtedness of the Company within 30 calendar days of such principal or interest becoming due and payable (after giving effect to any applicable grace period set
forth in the documents governing such indebtedness); 
 (vii) a final judgment or judgments that exceed $50
million (or the foreign currency equivalent thereof) or more, individually or in the aggregate, for the payment of money having been entered by a court or courts of competent jurisdiction against the Company and such judgment or judgments is not
satisfied, stayed, annulled or rescinded within 60 calendar days of being entered; 
 (viii) the Company or any
Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 
 (A) commences a voluntary
case; 
 (B) consents to the entry of an order for relief against it in an involuntary case; 

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

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

  
 10 

 (ix) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (A) is for relief against the Company or any Significant Subsidiary as debtor in an
involuntary case; 
 (B) appoints a Custodian of the Company or any Significant Subsidiary or a Custodian for
all or substantially all of the property of the Company or any Significant Subsidiary; or 
 (C) orders the
liquidation of the Company or any Significant Subsidiary, 
 and the order or decree remains unstayed and in effect for 60
calendar days. 
 (b) A Default as described in Section 4.02(a)(iv) above shall not be deemed an Event of Default until the
Trustee notifies the Company, or the Holders of at least 25% in principal amount of the then outstanding Notes notify the Company in writing and the Trustee, of the Default and the Company does not cure the Default within 60 calendar days after
receipt of the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.” If such a Default is cured within such time period, it ceases. 

(c) If an Event of Default (other than an Event of Default with respect to the Company described in Section 4.02(a)(viii) or (ix)),
shall have occurred and be continuing under the Indenture, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the Notes then outstanding by written notice to the Company and the Trustee, may declare all Notes
to be due and payable immediately. Upon such declaration of acceleration, all future, scheduled Installment Payments on the Notes shall be due and payable immediately. If an Event of Default with respect to the Company specified in
Section 4.02(a)(viii) or (ix) occurs, such an amount shall become automatically and immediately due and payable without any declaration, notice or other act on the part of the Trustee, the Company or any Holder. This provision, however, is
subject to the condition that, if at any time after the future, scheduled Installment Payments on the Notes shall have been so declared due and payable and before any judgment or decree for the payment of the moneys due shall have been obtained or
entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum sufficient to pay all matured Installments Payments, if any, upon all of the Notes and the Installment Payments on any and all Notes which shall have
become due otherwise than by acceleration (with interest on overdue amounts, if any, to the extent that payment of such interest is enforceable under applicable law and on such principal at the rate borne by the Notes to the date of such payment or
deposit) and the reasonable compensation, 

  
 11 

 
disbursements, expenses and advances of the Trustee and all other amounts due the Trustee under Section 6.07 of the Base Indenture, and if (i) rescission would not conflict with any
judgment or decree of a court of competent jurisdiction and (ii) any and all existing Events of Default, other than the nonpayment of any Installment Payments on the Notes that shall have become due by acceleration, shall have been cured or
shall have been waived in accordance with Section 4.04, then and in every such case (except as provided in the immediately succeeding sentence) the Holders of a majority in aggregate principal amount of the Notes then Outstanding, by written
notice to the Company and to the Trustee, may rescind and annul such declaration and its consequences; but no such rescission and annulment shall extend to or shall affect any subsequent Default, or shall impair any right consequent thereon.
Notwithstanding the previous sentence, no rescission shall be effective against any Holder for (x) any Default or Event of Default with respect to any covenant or provision which cannot be modified or amended without the consent of the Holder
of each outstanding Note affected thereby, unless all such affected Holders agree, in writing, to waive such Default or Event of Default or (y) any failure by the Company to pay any Installment Payment on, or (if applicable) the Repurchase
Price of, any Notes as and when the same shall become due and payable. 
 (d) Notwithstanding anything to the contrary in the
Base Indenture, except with respect to an Event of Default pursuant to Section 4.02(a)(i) or (ii), the Trustee shall not be charged with knowledge of any Default or Event of Default or knowledge of any cure of any Default or Event of Default
unless an authorized officer of the Trustee with direct responsibility for administration of the Indenture has received written notice thereof from the Company or any Holder of the Notes. 

Section 4.03. Notice of Defaults. The Company is required to deliver to the Trustee prompt written notice of the occurrence
of any Default or Event of Default. The Trustee, within 90 calendar days after the occurrence of a Default with respect to the Notes, shall mail to all Holders of the Notes, at the Company’s expense, as the names and the addresses of such
Holders appear upon the Security Register, notice of all Defaults known to the Trustee with respect to the Notes, unless such Defaults shall have been cured or waived before the giving of such notice; provided, however, that, except in
the case of Default or Event of Default in the payment of any Installment Payment or Repurchase Price or any that resulted from the failure to comply with any obligation of the Company under Section 4.07 of the Purchase Contract Agreement, the
Trustee shall be protected in withholding such notice if and so long as the Trustee determines that the withholding of such notice is in the Holders’ interests. 

  
 12 

 Section 4.04. Waiver of Past Defaults. The Holders of a majority in aggregate
principal amount of the Notes then outstanding by written notice to the Trustee and the Company may waive any continuing Default or Event of Default (other than a Default or Event of Default in payment of Installment Payments or the Repurchase
Price) on the Notes. 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 the Notes, but no such waiver shall extend to any subsequent or other
Default or Event of Default or impair any right consequent thereon. 
 Section 4.05. Control by Holders. The Holders
of a majority in aggregate principal amount of the Outstanding Notes may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the
Trustee may refuse to follow any direction that conflicts with law or the Indenture, that may involve the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not
joining in the giving of such direction, and may take any other action it deems proper that is not inconsistent with any such direction received from Holders of Notes. 
 Section 4.06. Rights of the Trustee. If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name or as trustee of an express trust, any available remedy by
proceeding at law or in equity to collect the payment of principal of and interest on the Notes or to enforce the performance of any provision of the Notes or the Indenture. The Trustee may maintain a proceeding even if it does not possess any of
the Notes or does not produce any of them in the proceeding. Notwithstanding the foregoing, subject to Section 6.01 of the Base Indenture, if an Event of Default occurs and is continuing, the Trustee shall be under no obligation to exercise any
of the rights or powers vested in it by this Indenture or the Notes at the request or direction of any of the Holders unless such Holders have offered and, if requested, provided to the Trustee indemnity or security reasonably satisfactory to it
against any loss, liability or expense resulting from such exercise. 
 Section 4.07. Limitation on Suits. A Holder
may not institute any proceeding, judicial or otherwise, with respect to the Indenture or the Notes, or for the appointment of a receiver or trustee, or for any other remedy under the Indenture or the Notes, unless: 

(a) the Holder has previously given to the Trustee written notice of a continuing Event of Default; 

(b) Holders of at least 25% in aggregate principal amount of the outstanding Notes have made written request to the Trustee to institute
proceedings in respect of the Event of Default in its own name as Trustee under the Indenture; 

  
 13 

 (c) Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee
against any costs, liabilities or expenses to be incurred in compliance with such request; 
 (d) the Trustee for 60 days after
its receipt of such notice, request and offer of such indemnity has failed to institute any such proceeding; and 
 (e) during
such 60-day period, the Holders of a majority in aggregate principal amount of the outstanding Notes have not given the Trustee a direction that is inconsistent with such written request. 

Section 4.08. Rights of Holders to Receive Installment Payments. Notwithstanding anything to the contrary, the right of a
Holder of a Note to receive Installment Payments on its Note on or after the applicable Installment Payment Date, or to receive the Repurchase Price on any Repurchase Date, or to bring suit for the enforcement of any such payment on or after such
date, may not be impaired or affected without the consent of that Holder. 
 Section 4.09. Collection Suit by
Trustee. If an Event of Default in payment of Installment Payments or the Repurchase Price specified in clause (i) or (ii) of Section 4.02(a) occurs and is continuing, the Trustee may recover judgment in its own name and as
trustee of an express trust for the whole amount of the Installment Payments or Repurchase Price, as the case may be, unpaid, together with interest on overdue payments at the rate specified in the Notes, and such further amount as is sufficient to
cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee hereunder. 

Section 4.10. Trustee May File Proofs of Claim. The Trustee may file proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee hereunder) and the
Holders allowed in any judicial proceedings relating to the Company or its creditors or property, and is entitled and empowered to collect, receive and distribute any money, securities or other property payable or deliverable upon any such claims.
Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, if the Trustee consents to the making of
such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agent and counsel, and any other amounts due the Trustee hereunder. Nothing
in the Indenture will be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder
thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
 14 

 Section 4.11. Priorities. If the Trustee collects any money pursuant to this
Article, it shall pay out the money in the following order: 
 First: to the Trustee for all amounts due
hereunder; 
 Second: to Holders for amounts then due and unpaid for principal of and interest on the Notes,
ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal and interest; and 
 Third: to the Company or as a court of competent jurisdiction may direct. 
 The
Trustee, upon written notice to the Company, may fix a record date and payment date for any payment to Holders pursuant to this Section. 
 Section 4.12. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted a proceeding to enforce any right or remedy under the Indenture and the proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any determination in the proceeding, the Company, the Trustee and the Holders will be restored severally and respectively to
their former positions hereunder and thereafter all rights and remedies of the Company, the Trustee and the Holders will continue as though no such proceeding had been instituted. 

Section 4.13. Undertaking for Costs. In any suit for the enforcement of any right or remedy under the Indenture or in any
suit against the Trustee for any action taken or omitted by it as Trustee, a court may require any party litigant in such suit (other than the Trustee) to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs,
including reasonable attorneys fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by a
Holder to enforce payment of principal of or interest on any Note on the respective due dates, or a suit by Holders of more than 10% in principal amount of the outstanding Notes. 

Section 4.14. Rights and Remedies Cumulative. No right or remedy conferred or reserved to the Trustee or to the Holders under
this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy hereunder or now or hereafter existing at law
or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy. 

  
 15 

 Section 4.15. Delay or Omission Not Waiver. No delay or omission of the Trustee
or of any Holder to exercise any right or remedy accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or
by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 4.16. Waiver of Stay, Extension or Usury Laws. The Company covenants, to the extent that it may lawfully do so, that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of, or interest on the Notes as contemplated
herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of the Indenture. The Company hereby expressly waives, to the extent that it may lawfully do so, all benefit or advantage of any
such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE 5 

DISCHARGE AND DEFEASANCE 

Section 5.01. Base Indenture. This Article 5 supersedes in their entirety Articles Four and Fifteen of the Base Indenture and
any reference in the Base Indenture to any such Article or any provision thereof shall be deemed, for the purposes of the Notes, to refer to the applicable provision in this Article 5. 

Section 5.02. Discharge. Subject to Section 5.09, the Company’s obligations under the Notes and the Indenture will
terminate if: 
 (i) all Notes previously authenticated and delivered (other than destroyed, lost or stolen Notes
that have been replaced) have been delivered to the Trustee for cancellation and the Company has paid all sums payable by it hereunder; or 
 (ii) (A) the Maturity Date occurs within one year, 

  
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 (B) the Company irrevocably deposits in trust with the Trustee, in trust
solely for the benefit of the Holders, money or U.S. Government Obligations or a combination thereof sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certificate delivered to the
Trustee, without consideration of any reinvestment, to pay principal of and interest on the Notes to the Maturity Date and to pay all other sums payable by it hereunder, 

(C) no Event of Default has occurred and is continuing on the date of the deposit, 

(D) the deposit will not result in a breach or violation of, or constitute a default under, any agreement or instrument
to which the Company is a party or by which it is bound, and 
 (E) the Company delivers to the Trustee an
Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the satisfaction and discharge of the Indenture have been complied with. 

Section 5.03. Legal Defeasance. The Company shall, subject to Section 5.09 and the satisfaction of the conditions set
forth in Section 5.05, be deemed to have been discharged from its obligations with respect to the Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal
Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Notes, which shall thereafter be deemed to be Outstanding only for the purposes of Section 5.06 hereof and the other
Sections of this Indenture referred to in Section 5.09 below, and to have satisfied all of its obligations under the Notes and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments
delivered to it by the Company acknowledging the same). The Company may exercise Legal Defeasance with respect to the Notes notwithstanding the prior exercise of Covenant Defeasance with respect to the Notes. 

Section 5.04. Covenant Defeasance. The Company shall, subject to Section 5.09 and the satisfaction of the conditions set
forth in Section 5.05, be released from its obligations under the covenant contained in Section 3.05 (other than Section 3.05(b)(i)(B)) and, on and after the date that the conditions set forth in Section 5.05 are satisfied with
respect to the Notes (hereinafter, “Covenant Defeasance”), the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in such covenant, whether directly or indirectly,
by reason of any reference elsewhere herein to such covenant or by reason of any reference in such covenant to any other provision herein or in any other document and such omission to comply shall not constitute

  
 17 

 
a Default or an Event of Default under Section 4.02, but, except as specified above, the remainder of this Indenture and the Notes shall be unaffected thereby. Subject to the satisfaction of
the conditions set forth in Section 5.05 and the exceptions set forth in Section 5.09, clauses (iii), (iv), (v), (vi), (vii), (viii) and (ix) of Section 4.02(a) shall not constitute Defaults or Events of Default hereunder.

 Section 5.05. Conditions to Legal or Covenant Defeasance. In order to exercise either Legal Defeasance or
Covenant Defeasance: 
 (a) the Company must irrevocably deposit, or cause to be deposited, with the Trustee, in trust, for the
benefit of the Holders of the Notes, cash in U.S. dollars, U.S. Government Obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay,
without reinvestment, the principal of, and interest on, the Outstanding Notes (in the form of Installment Payments) on the applicable due dates therefor; 
 (b) in the case of Legal Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Company has received from, or there has been
published by, the Internal Revenue Service a ruling, or there has been a change in the applicable United States federal income tax law after the Issue Date, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the Notes will not recognize income, gain or loss for United States federal income tax purposes as a result of such Legal Defeasance, and will be subject to United States 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; 
 (c) in the case of
Covenant Defeasance, the Company must deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the Outstanding Notes will not recognize income, gain or loss for United States federal income tax
purposes as a result of such Covenant Defeasance, and such Holders will be subject to United States 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; 
 (d) no Default or Event of Default 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) or insofar as Events of Default from bankruptcy or insolvency events are concerned, at any time in the period ending on the 91st day after the date of
deposit; 
 (e) 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 the Indenture) to which the Company is a party or by which the Company is bound; 

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

(g) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel in the United States reasonably
acceptable to the Trustee, each stating that the conditions precedent provided for or relating to Legal Defeasance or Covenant Defeasance, as applicable, in the Indenture have been complied with. 

Section 5.06. Application of Trust Money. Subject to Section 5.07, the Trustee will hold in trust the money or U.S.
Government Obligations deposited with it pursuant to Section 5.02 or pursuant to Legal Defeasance or Covenant Defeasance, and apply the deposited money and the proceeds from deposited U.S. Government Obligations to the payment of principal of
and interest on the Notes (in the form of Installment Payments) in accordance with the Notes and the Indenture. Such money and U.S. Government Obligations need not be segregated from other funds except to the extent required by law. 

Section 5.07. Repayment to Company. Subject to Section 6.07 of the Base Indenture and Section 5.02,
Section 5.03 and Section 5.04, the Trustee will promptly pay to the Company upon request any excess money held by the Trustee at any time and thereupon be relieved from all liability with respect to such money. The Trustee will pay to the
Company upon request any money held for payment with respect to the Notes that remains unclaimed for two years, provided that before making such payment the Trustee may at the expense of the Company publish once in a newspaper of general
circulation in New York City, or send to each Holder entitled to such money, notice that the money remains unclaimed and that after a date specified in the notice (at least 30 days after the date of the publication or notice) any remaining unclaimed
balance of money will be repaid to the Company. After payment to the Company, Holders entitled to such money must look solely to the Company for payment, unless applicable law designates another Person, and all liability of the Trustee with respect
to such money will cease. 
 Section 5.08. Reinstatement. If and for so long as the Trustee is unable to apply any
money or U.S. Government Obligations held in trust pursuant to Section 5.02, Section 5.03 or Section 5.03 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, the Company’s obligations under the Indenture and the Notes will be reinstated as though no such 

  
 19 

 
deposit in trust had been made. If the Company makes any payment of principal of or interest on any Notes (in the form of Installment Payments) because of the reinstatement of its obligations, it
will be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held in trust. 
 Section 5.09. Provisions to Survive Defeasance and Discharge. Notwithstanding the foregoing, no discharge, Legal Defeasance or Covenant Defeasance pursuant to this Article 5 shall affect the
following obligations to, or rights of, the Holders of the Notes: 
 (a) the rights of registration of transfer and exchange of
the Notes; 
 (b) the Company’s obligations with respect to the Notes concerning mutilated, destroyed, lost or stolen
Notes; 
 (c) the rights of Holders of Notes to receive payments in respect of the principal thereof and interest thereon (in
the form of Installment Payments), upon the original due dates therefor, but not upon acceleration; 
 (d) the rights, powers,
trusts, duties, indemnities and immunities of the Trustee, and the Company’s obligations in connection therewith; 
 (e)
the rights of Holders of Notes that are beneficiaries with respect to property so deposited with the Trustee payable to all or any of them; and 
 (f) the maintenance of an office or agency for payment and money for payments held in trust. 
 ARTICLE 6 
 THE NOTES 

Section 6.01. Form of Notes. (a) The Notes will initially be issued as Component Notes in the form of Attachment 4 to
the form of Global Unit attached as Exhibit A to the Purchase Contract Agreement, and will be attached to the related Global Unit and registered in the name of Wilmington Trust, National Association, as attorney-in-fact of the holder(s) of such
Global Unit. 
 (b) Holders of Units have the right to separate such Units into their constituent parts, consisting of Separate
Purchase Contracts and Separate Notes, during the times, and under the circumstances, described in Section 2.03 of the Purchase Contract Agreement. Upon separation of any Unit into its constituent parts, (i) if such Unit is a Global Unit,
the Separate Notes will initially be evidenced by Global Securities in the form of Exhibit A hereto (the “Global Note”) 

  
 20 

 
deposited with the Trustee as custodian for the Depositary and registered in the name of the Depositary or its nominee, or (ii) if such Unit is in definitive, registered form, the Separate
Notes will be evidenced by a Certificated Note, in each case, as provided in Section 2.03 of the Purchase Contract Agreement. Following separation of any Unit into its constituent Separate Note and Separate Purchase Contract, the Separate Notes
are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for in Section 2.04 of the Purchase Contract Agreement.

 (c) The terms of such Notes are herein incorporated by reference and are part of this Supplemental Indenture. 

(d) The Notes shall be issuable in denominations initially equal to the Initial Principal Amount and integral multiples in excess
thereof. 
 Section 6.02. Installment Payments. (a) On each Installment Payment Date, the Company shall pay an
installment on each Note of $1.25 (each such payment, an “Installment Payment”) in cash at the place, at the respective times and in the manner provided in the Notes; provided that the Installment Payment on each Note on
January 1, 2013 shall equal $1.4167. Installment Payments shall be paid to the Person in whose name a Note is registered at the close of business on the Regular Record Date corresponding to such Installment Payment Date; provided that,
in respect of any Notes in definitive registered form, the final Installment Payment shall be made only against surrender of such Note to the Paying Agent. 
 (b) Each Installment Payment shall constitute a payment of interest (at an annual rate of 4.50%) and a partial repayment of principal on the Note, allocated as set forth in the schedule below: 

 

					
	 Installment Payment Date
	  	Amount of Principal	  	Amount of Interest
	 January 1, 2013
	  	$1.2369	  	$0.1798
	 April 1, 2013
	  	$1.1053	  	$0.1447
	 July 1, 2013
	  	$1.1177	  	$0.1323
	 October 1, 2013
	  	$1.1303	  	$0.1197
	 January 1, 2014
	  	$1.1430	  	$0.1070
	 April 1, 2014
	  	$1.1558	  	$0.0942
	 July 1, 2014
	  	$1.1689	  	$0.0811
	 October 1, 2014
	  	$1.1820	  	$0.0680
	 January 1, 2015
	  	$1.1953	  	$0.0547
	 April 1, 2015
	  	$1.2087	  	$0.0413
	 July 1, 2015
	  	$1.2223	  	$0.0277
	 October 1, 2015
	  	$1.2361	  	$0.0139

  
 21 

 (c) Each Installment Payment for any Installment Payment Period shall be computed on the
basis of a 360-day year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full Installment Payment Period, such Installment Payment shall be computed on the basis of the actual number of days
elapsed per 30-day month. 
 (d) If any date on which an Installment Payment is payable is not a Business Day, then payment of
the Installment Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if such Business Day is in the next succeeding calendar year, then
such Installment Payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date when such Installment Payment was originally due. 

Section 6.03. Depositary. The Depositary for the Global Note shall initially be The Depository Trust Company
(“DTC”). The Global Note (which shall initially have a balance of zero Notes) shall be deposited on or about the Issue Date with, or on behalf of, DTC and registered in the name of Cede & Co., as nominee of DTC (such
nominee being referred to herein as the “Global Note Holder”). 
 None of the Company, the Trustee, the
Security Registrar or the Paying Agent shall have any responsibility or obligation to any beneficial owner in a Global Note, an agent member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any agent
member, with respect to any ownership interest in the Notes or with respect to the delivery to any agent member, beneficial owner or other Person (other than the Depositary) of any notice or the payment of any amount, under or with respect to such
Notes. All notices and communications to be given to the Holders and all payments to be made to Holders under the Notes and this Indenture shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or
its nominee in the case of a Global Note). The rights of beneficial owners in Global Note shall be exercised only through the Depositary subject to the applicable procedures. The Company, the Trustee, the Security Registrar and the Paying Agent
shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Company, the Trustee, the Paying Agent and the Security Registrar
shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered Holder of any Global Note for all purposes of this 

  
 22 

 
Indenture relating to such Global Note (including the payment or delivery of amounts due hereunder and the giving of instructions or directions by or to any beneficial owner) as the sole Holder
of such Global Note and shall have no obligations to the beneficial owners thereof. None of the Company, the Trustee, the Paying Agent and the Security Registrar shall have any responsibility or liability for any acts or omissions of the Depositary
with respect to such Global Note, for the records of any such Depositary, including records in respect of the beneficial owners of any such Global Note, for any transactions between the Depositary and any agent member or between or among the
Depositary, any such agent member and/or any Holder or beneficial owner of such Global Note, or for any transfers of beneficial interests in any such Global Note. 
 Notwithstanding the foregoing, with respect to any Global Note, 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 any depositary (or its nominee), as a Holder, with respect to such Global Note or shall impair, as between such Depositary and beneficial owners of such Global Note, the operation of customary
practices governing the exercise of the rights of such depositary (or its nominee) as Holder of such Global Note. 
 None of the
Company, the Trustee, the Paying Agent or the Security Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Note (including any transfers between or among participants of DTC, members or beneficial owners in any Global Note) other than to require delivery of such certificates and other documentation or evidence as
are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

Section 6.04. Certificated Notes. This Section 6.04 supersedes the fourth, fifth and sixth paragraphs of
Section 3.04(b) of the Base Indenture and any reference in the Base Indenture to such paragraphs or any provision thereof shall be deemed, for the purposes of the Notes, to refer to this Section 6.04 or the corresponding provision herein,
as the case may be. If: 
 (i) the Depositary is unwilling or unable to continue as Depositary for such Global
Note and the Company is unable to find a qualified replacement for such Depositary within 90 days; 
 (ii) at any
time the Depositary ceases to be a clearing agency registered under the Exchange Act; or 

  
 23 

 (iii) an Event of Default, or any failure on the part of the Company to
observe or perform any covenant or agreement in the Indenture has occurred and is continuing and the beneficial owner of any Notes represented by a Global Note requests that its Notes be issued in physical, certificated form, 

then, in each case, the Company shall execute, and the Trustee, upon receipt of an Company Order for the authentication and delivery of Certificated
Notes, shall authenticate and deliver Certificated Notes in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such Notes (or in an aggregate principal amount equal
to the principal amount of the Notes in respect of which a beneficial owner has requested the issuance of Notes in physical, certificated form pursuant to clause (iii) above) in exchange for such Global Note or Notes (or relevant portion
thereof). 
 ARTICLE 7 
 REDEMPTION / CONVERSION / SINKING FUNDS 
 Section 7.01. Inapplicable Provisions of Base Indenture. The Notes shall not be payable in any currency other than U.S. dollars, redeemable or convertible and no sinking fund shall be provided
for the Notes. Articles Thirteen, Fourteen and Sixteen and Section 3.10 of the Base Indenture shall not apply to the Notes. 

ARTICLE 8 

REPURCHASE OF NOTES AT THE OPTION
OF THE HOLDER 
 Section 8.01. Offer to Repurchase. If the Company
elects to exercise its Early Mandatory Settlement Right with respect to, or cause a Merger Termination Redemption of, the Purchase Contracts, then each Holder of Notes (whether any such Note is a Separate Note or a component of a Unit) shall have
the right (the “Repurchase Right”) to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note to be repurchased on the Repurchase Date, pursuant to Section 8.03. The Company shall
not be required to repurchase a portion of a Note. 
 Section 8.02. Early Mandatory Settlement Notice and Merger
Redemption Notice. If the Company elects to exercise its Early Mandatory Settlement Right or in the event of a Merger Termination Redemption in respect of the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, the
Company shall provide the Trustee and the Holders of the Notes with a copy of the Early Mandatory Settlement Notice or Merger Redemption Notice, as the case may be, delivered pursuant to the Purchase Contract Agreement. 

  
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 Section 8.03. Procedures for Exercise.  

(a) To exercise the Repurchase Right, a Holder must deliver, at or prior to the close of business on the Business Day immediately
preceding the Repurchase Date, the Notes to be repurchased to the Paying Agent (or the Units to the Purchase Contract Agent, if (1) the Early Mandatory Settlement Date or Merger Redemption Settlement Date, as the case may be, occurs on or after
the Repurchase Date and (2) the relevant Notes have not been separated from the Units), together with a duly completed written Repurchase Notice, in each case in accordance with appropriate procedures of the Depositary, unless the Notes are not
in the form of a Global Note (or the Units are not in the form of Global Units, as the case may be), in which case such Holder must deliver the Notes to be repurchased to the Paying Agent or Trustee, duly endorsed for transfer to the Company,
together with a Repurchase Notice, to the Paying Agent or Trustee (or (ii) the Units that include the Notes to be repurchased to the Purchase Contract Agent, if (1) the Early Mandatory Settlement Date or Merger Redemption Settlement Date,
as the case may be, occurs on or after the Repurchase Date and (2) the Notes have not been separated from the Units). 

(b) The Repurchase Notice must state the following: 

(i) if Certificated Notes or Units have been issued, the certificate numbers of the Notes or Units, or if the Notes or
Units are in the form of a Global Note or a Global Unit, as the case may be, the Repurchase Notice must comply with appropriate procedures of the Depositary; 
 (ii) the number of Notes to be repurchased; and 
 (iii) that the
Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Article 8. 
 (c) In
the event that the Company exercises its Early Mandatory Settlement Right or in the event that a Merger Termination Redemption occurs with respect to Purchase Contracts that are a component of Units prior to the Repurchase Date, upon such exercise
or redemption the Company shall execute and the Trustee shall authenticate on behalf of the Holder and deliver to the Holder thereof, at the expense of the Company, Separate Notes in same form and in the same number as the Notes comprising part of
the Units. 
 Section 8.04. Withdrawal of Repurchase Notice.  

(a) A Holder may withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice of withdrawal delivered to the
Paying Agent or Trustee, with a copy to the Trustee (if delivered to the Paying Agent) and the Company (in the case of a Note or Unit in the form of a Global Note or a Global Unit, as the case may be, in accordance with the appropriate procedures of
the Depositary), at or prior to the close of business on the Business Day immediately preceding the Repurchase Date. 

  
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 (b) The notice of withdrawal must state the following: 

(i) if Certificated Notes or Units have been issued, the certificate numbers of the withdrawn Notes or Units, as
applicable, or if the Notes or Units are in the form of a Global Note or a Global Unit, as the case may be, the notice of withdrawal must comply with appropriate DTC procedures; 

(ii) the number of the withdrawn Notes; and 

(iii) the number of Notes, if any, that remain subject to the Repurchase Notice. 

Section 8.05. Effect of Repurchase. (a) The Company shall be required to repurchase the Notes with respect to which the
Repurchase Right has been exercised on the Repurchase Date. To effectuate such repurchase, the Company shall deposit immediately available funds with the Paying Agent or Trustee, on or prior to 11:00 a.m., New York City time, on the Repurchase Date,
in an amount or amounts sufficient to pay the Repurchase Price with respect to those Notes for which the Repurchase Right has been exercised. A Holder electing to exercise the Repurchase Right shall receive payment of the Repurchase Price on the
later of (i) the Repurchase Date and (ii) the time of book-entry transfer or the delivery of the Notes (or Units, as applicable). 
 (b) If the Paying Agent or Trustee holds money on the Repurchase Date sufficient to pay the Repurchase Price with respect to those Notes for which the Repurchase Right has been exercised, then
(i) such Notes shall cease to be outstanding and interest shall cease to accrue thereon (whether or not book-entry transfer of the Notes or Units, as applicable, is made or whether or not the Notes or Units, as applicable, are delivered as
required herein), and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price and, if the Repurchase Date falls between a Regular Record Date and the corresponding Installment Payment Date, the
related Installment Payment). 
 (c) The Company shall, in connection with any repurchase offer pursuant to this Article 8, if
required, (i) comply with the provisions of the tender offer rules under the Exchange Act that may then be applicable, and (ii) file a Schedule TO or any other required schedule under the Exchange Act. 

(d) Notwithstanding anything to the contrary herein, no Notes may be repurchased at the option of Holders if the principal amount thereof
has been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Repurchase Price with respect to such Notes).

  
 26 

 ARTICLE 9 
 TAX TREATMENT 
 Section 9.01. Tax Treatment.
The Company and each Holder agree, for United States federal income tax purposes, to treat the Notes as indebtedness of the Company. 
 ARTICLE 10 
 AMENDMENTS, SUPPLEMENTS
AND WAIVERS 
 Section 10.01. Base Indenture. This Article 10 supersedes in their
entirety Sections 11.01 and 11.02 of the Base Indenture, and any reference in the Base Indenture to Section 11.01 or 11.02 thereof or any provision therein shall be deemed, for the purposes of the Notes, to refer to this Article 10 or the
corresponding provision herein, as the case may be. 
 Section 10.02. Amendments Without Consent of Holders. The
Company and the Trustee may amend or supplement the Indenture or the Notes without notice to or the consent of any Holder to: 

(a) cure any ambiguity, omission, defect or inconsistency in the Indenture or the Notes; provided that such amendments or
supplements shall not adversely affect the interests of the Holders; 
 (b) provide for the assumption by a Successor
Corporation of the Company’s obligations as set forth in Section 3.05; 
 (c) comply with any requirements of the
Commission in connection with the qualification of the Indenture under the Trust Indenture Act; 
 (d) evidence and provide for
the acceptance of appointment with respect to the Notes by a successor Trustee in accordance with the Indenture, and 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; 
 (e) provide for uncertificated or unregistered securities and to make
all appropriate changes for such purpose; 
 (f) secure the Notes; 

  
 27 

 (g) add guarantees with respect to the Notes; 

(h) add to the Company’s covenants or Events of Default for the benefit of the Holders or surrender any right or power conferred
upon the Company; 
 (i) make any change that does not adversely affect the rights of any Holder; and 

(j) conform the provisions of the Indenture to the “Description of the Amortizing Notes” section in the preliminary prospectus
supplement dated September 12, 2012, as supplemented and/or amended by the pricing term sheet dated September 13, 2012, relating to the offering and sale of the Units. 

Section 10.03. Amendments With Consent of Holders. Without prior notice to any Holders, the Company and the Trustee may amend
the Indenture and the Notes with the written consent of the Holders of a majority in principal amount of the Outstanding Notes, and the Holders of a majority in principal amount of the Outstanding Notes by written notice to the Trustee may waive
future compliance by the Company with any provision of the Indenture or the Notes. Notwithstanding the foregoing, without the consent of each Holder affected thereby, an amendment or waiver may not: 

(a) change any Installment Payment Date or the amount owed on any Installment Payment Date, 

(b) reduce the principal amount of the Notes or the rate of interest thereon; 

(c) reduce the above-stated percentage of outstanding Notes the consent of whose Holders is necessary to modify or amend the Indenture
with respect to the Notes; 
 (d) reduce the percentage in principal amount of Outstanding Notes the consent of whose Holders is
required for any indenture supplemental hereto or for any waiver of compliance with provisions of the Indenture or Events of Default and their consequences provided for herein, or make any change to this sentence; 

(e) change the ranking of the Notes; 
 (f) make the Notes payable in a currency other than that stated in the Notes; or 

(g) reduce the Repurchase Price or amend or modify in any manner adverse to the Holders of the Notes the Company’s obligation to
make such payment. 

  
 28 

 The Company shall mail supplemental indentures to Holders upon request. 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 or waiver. 
 Section 10.04. Payments for Consents. Neither the Company nor any of its Subsidiaries or Affiliates may, directly or indirectly, pay or cause to be paid any consideration, whether by way of
interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of the Indenture or the Notes unless such consideration is offered to be paid or agreed to be paid to all Holders
of the Notes that consent, waive or agree to amend such term or provision within the time period set forth in the solicitation documents relating to the consent, waiver or amendment. 

ARTICLE 11 

MISCELLANEOUS 
 Section 11.01. GOVERNING LAW. THE INDENTURE, THE NOTES, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THE INDENTURE OR THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 11.02. No Adverse Interpretation of Other Agreements.
This Supplemental Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any subsidiary of the Company. Any such indenture or loan or debt agreement may not be used to interpret this Supplemental
Indenture. 
 Section 11.03. Successors and Assigns. All covenants and agreements of the Company in this
Supplemental Indenture and the Notes shall bind its successors and assigns and inure to the benefit of its successors and assigns. All agreements of the Trustee in this Supplemental Indenture shall bind its successors and assigns and inure to the
benefit of its successors and assigns. 
 Section 11.04. Counterparts. The parties may sign any number of
counterparts of this Supplemental Indenture. Each signed counterpart shall be an original, but all of them together represent the same agreement. 
 Section 11.05. Severability. To the extent permitted by applicable law, in case any one or more of the provisions contained in this Supplemental Indenture or in the Notes shall for any reason
be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Supplemental Indenture or of the Notes. 

  
 29 

 Section 11.06. Effect of Headings. The Article and Section headings herein and
the Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section 11.07. Conflict
of Any Provision of Indenture with TIA. If and to the extent that any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision included in this Supplemental Indenture or in the Indenture which is required to
be included herein by any of Sections 310 to 317 of the TIA, inclusive, or is deemed applicable to the Indenture by virtue of the provisions of the TIA, such required provision shall control. 

Section 11.08. Ratification of Indenture. The Base Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 11.09. Waiver of Jury Trial. The Company and the Trustee hereby waive their respective rights to trial by jury in any action or proceeding arising out of or related to the Indenture,
the Notes or the transactions contemplated hereby or thereby, to the extent permitted by law. 
 Section 11.10. Further
Amendments. The following amendments shall also be made to the Base Indenture: 
  

	 	(a)	The phrase “only Debt Securities which the Trustee knows to be so owned shall be so disregarded” in the proviso to the definition of
“Outstanding” shall be replaced with the phrase “only Debt Securities which a Responsible Officer knows to be so owned shall be so disregarded”. 

 

	 	(b)	References to the “Trustee” shall be deleted from the definition of “Vice President.” 

 

	 	(c)	The following language appearing at the end of the first paragraph of Section 1.02 shall be deleted: “, except that in the case of any such application or
request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.”

  

	 	(d)	The first sentence of the last paragraph of Section 3.03 shall be deleted and replaced with the following: “No Debt Security shall be entitled to any benefit
under this Indenture or be valid or obligatory for any purpose unless there appears on such Debt Security a certificate of authentication substantially in the form provided for herein duly executed by the Trustee or the Authenticating Agent by
manual signature, and such certificate upon any Debt Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.”

  
 30 

	 	(e)	The following clauses shall be added immediately following Section 6.03(g): 

 

	 	“(h)	The Trustee may from time to time request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of Officers
authorized at such time to take specified actions pursuant to this Indenture. 

  

	 	(i)	The permissive right of the Trustee to take any action under this Indenture shall not be construed as a duty to so act. 

 

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

  

	 	(k)	In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or
indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or
malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to avoid and mitigate the
effects of such occurrences and to resume performance as soon as practicable under the circumstances). 

  

	 	(l)	The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and
shall be enforceable by, the Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder.” 

  
 31 

	 	(f)	The following clause shall be added to the end of the last sentence of Section 6.07: “and resignation or removal of the Trustee”.

  

	 	(g)	The following sentence shall be added following the last paragraph of Section 6.07: “When the Trustee incurs expenses or renders services in connection with
an Event of Default specified in Section 4.02(viii) or (ix) of the First Supplemental Indenture hereunder, dated September 19, 2012, relating to the 4.50% Senior Amortizing Notes due 2015, the expenses (including the reasonable fees
and expenses of its counsel) and the compensation for the service in connection therewith are intended to constitute expenses of administration under any bankruptcy law.” 

 

	 	(h)	Section 6.08 shall be deleted in its entirety and replaced with the following: 

 “Section 6.08. Disqualifications; Conflicting Interests. 
 (a) If the Trustee
has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture
Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture with respect to Debt Securities of more than one series or
any other indenture between the Trustee and the Company.” 
  

	 	(i)	Section 6.12 shall be deleted in its entirety and replaced with the following: 

 “Section 6.12. Preferential Collection of Claims Against Company. 
 If and
when the Trustee shall be or become a creditor of the Company (or any other obligor upon the Debt Securities of any series), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the
Company.” 
  

	 	(j)	The third sentence of the third paragraph of Section 6.14 shall be deleted in its entirety and replaced with the following: “The Company agrees to pay to the
Authenticating Agent for such series from time to time reasonable compensation for its services.” 

  

	 	(k)	Section 7.02 shall be deleted in its entirety and replaced with the following: 

 “Section 7.02. Preservation of Information; Communications to Holders. 

  
 32 

 (a) The Trustee shall preserve, in as current a form as is reasonably
practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee if and so long as it is acting as Security
Registrar. The Trustee may destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished. 
 (b) The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or under the Debt Securities of any series, and the corresponding rights and privileges of the
Trustee, shall be as provided in the Trust Indenture Act. 
 (c) Every Holder of Debt Securities, by receiving
and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the
Holders made pursuant to the Trust Indenture Act.” 
  

	 	(l)	Section 7.03 shall be deleted in its entirety and replaced with the following: 

 “Section 7.03. Reports by Trustee. 
 (a) The Trustee shall
transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. The Trustee shall promptly deliver to the
Company a copy of any report it delivers to Holders pursuant to this Section 7.03. 
 (b) A copy of each
such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Debt Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Debt
Securities are listed on any stock exchange.” 

  
 33 

 SIGNATURES 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written. 

 

			
	GENESEE & WYOMING INC., as the Company
		
	 By:
	 	/s/ John C. Hellmann
		 	 Name: John C. Hellmann

		 	 Title: Chief Executive Officer

  

			
		
	 By:
	 	/s/ Allison Fergus
		 	 Name: Allison Fergus

		 	 Title: General Counsel and Secretary

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	 By:
	 	/s/ Joshua C. Jones
		 	 Name: Joshua C. Jones

		 	 Title: Banking Officer

  
 34 

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 [THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY OR A SUCCESSOR DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”) TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR
BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO
CEDE & CO. 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 INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.]* 

 
  

	*	Include only if a Global Note. 

  
 1 

 GENESEE & WYOMING INC. 

4.50% SENIOR AMORTIZING NOTES DUE 2015 
 CUSIP No.       371559 AA3 
 ISIN No.:   US371559AA32

  

			
	 No.         
	  	[Initial]* Number of Notes:                     

 GENESEE & WYOMING INC., a Delaware corporation (the
“Company”, which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & CO., as nominee of The Depository Trust Company]*
[                    ]**, or registered assigns (the “Holder”), the initial principal amount of $14.1023 for each of the
number of Notes set forth above[, or such other number of Notes reflected in the books and records of the Depositary and the Trustee, in accordance with the terms of the Indenture, but which number of Notes, taken together with the number of all
other outstanding Notes, shall not exceed 2,300,000 Notes at any time]*, in equal quarterly installments of $1.25 per Note (except for the January 1, 2013 installment, which shall be $1.4167 per Note) (each such payment, an “Installment Payment,”
constituting a payment of interest at the rate per year of 4.50% and a partial repayment of principal) payable on each January 1, April 1, July 1 and October 1 commencing on January 1, 2013 (each such date, an
“Installment Payment Date” and the period from, and including, September 19, 2012 to, but excluding, the first Installment Payment Date and each subsequent full quarterly period from, and including, an Installment Payment Date
to, but excluding, the immediately succeeding Installment Payment Date, an “Installment Payment Period”), all as set forth on the reverse hereof, with the final Installment Payment due and payable on October 1, 2015.

 The Installment Payment on any Installment Payment Date shall be computed on the basis of a 360-day year consisting of twelve
30-day months. If an Installment Payment for any period shorter or longer than a full Installment Payment Period, such Installment Payment shall be computed on the basis of the actual number of days elapsed per 30-day month. In the event that any
Installment Payment Date is not a Business Day, then payment of the Installment Payment on such date will be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. However, if
such Business Day is in the next succeeding calendar year, then such installment payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date when such Installment Payment was
originally due. Installment Payments shall be paid to the Person in whose name the Note is registered at the close of business on December 15, March 15, June 15 and September 15, as applicable (each, a “Regular
Record 

  
 2 

 
Date”). Installment Payments shall be payable at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York or in Wilmington,
Delaware; provided, however, that payment of Installment Payments may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register or by wire transfer to an
account appropriately designated by the Holder entitled to payment. 
 This Note shall not be entitled to any benefit under the
Indenture hereinafter referred to or be valid or obligatory for any purpose until the Certificate of Authentication shall have been manually signed by or on behalf of the Trustee. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the
same effect as if set forth at this place. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

 

	*	 Include only if a
Global Note. 

	**	 Include only if
not a Global Note. 

  
 3 

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

Dated:                      

 

			
	GENESEE & WYOMING INC.
		
	By:	 	 
		 	Name:
		 	 Title:

		
	By:	 	 
		 	Name:
		 	 Title:

 CERTIFICATE OF AUTHENTICATION 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee, certifies that this is one of the Notes of the series designated herein referred to in the within mentioned
Indenture.
	
	Dated:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 B-1

 [REVERSE OF NOTE] 
 GENESEE & WYOMING INC. 
 4.50% Senior Amortizing Notes due 2015

 This Note is one of a duly authorized series of Securities of the Company designated as its 4.50% Senior Amortizing Notes due
2015 (herein sometimes referred to as the “Notes”), issued under the Indenture, dated as of September 19, 2012, between the Company and Wilmington Trust, National Association, as trustee (the “Trustee,” which
term includes any successor trustee under the Indenture) (including any provisions of the TIA that are deemed incorporated therein) (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of
September 19, 2012 (the “First Supplemental Indenture”), between the Company and the Trustee (the Base Indenture and, as supplemented by the First Supplemental Indenture, the “Indenture”), to which Indenture
reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders. The terms of other series of Securities issued under the Base Indenture may
vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the Base Indenture. The Indenture further provides that securities of a single series may be issued at various times,
with different maturity dates and may bear interest at different rates. This series of Securities is limited in initial aggregate principal amount as specified in the First Supplemental Indenture. 

Each Installment Payment shall constitute a payment of interest (at an annual rate of 4.50%) and a partial repayment of principal on the
Note, allocated as set forth in the schedule below: 
  

									
	 Installment Payment Date
	  	Amount of Principal	 	  	Amount of Interest	 
	 January 1, 2013
	  	$	1.2369	  	  	$	0.1798	  
	 April 1, 2013
	  	$	1.1053	  	  	$	0.1447	  
	 July 1, 2013
	  	$	1.1177	  	  	$	0.1323	  
	 October 1, 2013
	  	$	1.1303	  	  	$	0.1197	  
	 January 1, 2014
	  	$	1.1430	  	  	$	0.1070	  
	 April 1, 2014
	  	$	1.1558	  	  	$	0.0942	  
	 July 1, 2014
	  	$	1.1689	  	  	$	0.0811	  
	 October 1, 2014
	  	$	1.1820	  	  	$	0.0680	  
	 January 1, 2015
	  	$	1.1953	  	  	$	0.0547	  
	 April 1, 2015
	  	$	1.2087	  	  	$	0.0413	  
	 July 1, 2015
	  	$	1.2223	  	  	$	0.0277	  
	 October 1, 2015
	  	$	1.2361	  	  	$	0.0139	  

  
 B-2

 The Notes shall not be subject to redemption at the option of the Company. However, a
Holder shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note and on the Repurchase Date, upon the occurrence of certain events and subject to the conditions set forth in the
Indenture. 
 This Note is not entitled to the benefit of any sinking fund. The Indenture contains provisions for defeasance and
covenant defeasance at any time of the indebtedness on this Note upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of Default with respect to the Notes shall occur and be continuing, then (unless no declaration of acceleration or notice is required for such Event of Default) either the Trustee or the
Holders of not less than 25% in principal amount of the Notes then outstanding may declare all future, scheduled Installment Payments to be due and payable immediately, in the manner, subject to the conditions and with the effect provided in the
Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee, with the consent
of the Holders of not less than a majority in principal amount of the Securities at the time outstanding, to execute supplemental indentures for certain purposes as described therein. 

No provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay Installment Payments on this Note or the Repurchase Price (if applicable) at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 

The Notes are originally being issued as part of the 5.00% Tangible Equity Units (the “Units”) issued by the Company
pursuant to that certain Purchase Contract Agreement, dated as of September 19, 2012, among the Company, Wilmington Trust, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of Purchase Contracts from time
to time and Wilmington Trust, National Association, as Trustee under the Indenture (the “Purchase Contract Agreement”). Holders of the Units have the right to separate such Units into their constituent parts, consisting of Separate
Purchase Contracts (as defined in the Purchase Contract Agreement) and Separate Notes, during the times, and under the circumstances, described in the Purchase Contract Agreement. Following separation of any Unit into its constituent Separate Note
and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to recreate Units, as provided for in the Purchase
Contract Agreement. Reference is hereby made to the Purchase Contract Agreement for a more complete description of the terms thereof applicable to the Units and Notes. 

  
 B-3

 As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Note shall be registered on the Security Register of the Company, upon due presentation of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York or in
Wilmington, Delaware, duly endorsed by, or accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and
thereupon the Company shall execute and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Note or Notes in authorized denominations and for a like aggregate principal amount. 

The Notes are initially issued in registered, global form without coupons in denominations initially equal to $14.1023 and integral
multiples in excess thereof. 
 The Company or Trustee may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer of this Note. No service charge shall be made for any such transfer or for any exchange of this Note as contemplated by the Indenture. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name this Note is registered
upon the Security Register for the Notes as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of
the principal of and, subject to the provisions of the Indenture, interest, if any, on this Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the
contrary. 
 This Note and the Indenture, and any claim, controversy or dispute arising under or related to the Indenture or
this Note, shall for all purposes be governed by, and construed in accordance with, the laws of the State of New York. 

The Company and the Trustee hereby waive their respective rights to trial by jury in any action or proceeding arising out of or
related to the Indenture, the Notes or the transactions contemplated thereby, to the extent permitted by law. 
 Capitalized
terms used but not defined in this Note shall have the meanings ascribed to such terms in the Indenture. 

  
 B-4

 No recourse shall be had for the payment of any Installment Payment on this Note, or for
any claim based hereon, or upon any obligation, covenant or agreement of the Company in the Indenture, against any incorporator, stockholder, officer or director, past, present or future of the Company or of any predecessor or successor, either
directly or through the Company or of any successor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment of penalty or otherwise; and all such personal liability is expressly released and waived as
a condition of, and as part of the consideration for, the issuance of this Note. 
 The Company and each Holder agrees, for
United States federal income tax purposes, to treat the Notes as indebtedness of the Company. 
 In the event of any
inconsistency between the provisions of this Note and the provisions of the Indenture, the Indenture shall prevail. 

  
 B-5

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 
 (Insert assignee’s
social security or tax identification number) 
 (Insert address and zip code of assignee) and irrevocably appoints 

agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

Date:                      

Signature: 
 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this
Note) 

  
 B-6

 SIGNATURE GUARANTEE 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security
Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 
  

			
		
	By:	 	 
		 	Name:
		 	 Title:

  

			
	
	 
		 	 as Trustee

  

			
	By:	 	 
		 	Name:
		 	 Title:

 Attest 
  

			
	By:	 	 
		 	Name:
		 	 Title:

  

  
 B-7

 FORM OF REPURCHASE NOTICE 

 

	TO:	GENESEE & WYOMING INC. 

	    	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee 

 The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from Genesee & Wyoming Inc. (the “Company”) regarding the right of Holders to elect to
require the Company to repurchase the Notes and requests and instructs the Company to pay, for each Note designated below, the Repurchase Price for such Note (determined as set forth in the Indenture), in accordance with the terms of the Indenture
and the Notes, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Notes shall be repurchased by the Company as of the Repurchase Date pursuant to the
terms and conditions specified in the Indenture. 
 Dated:
                     
  

			
		
	Signature:	 	 
	
	 

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the
face of the Notes in every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable):
                         
 Number of Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof):
                             
 Social Security or Other Taxpayer Identification Number:
                         

  
 B-8Indenture, dated as of September 19, 2012

 Exhibit 4(u) 

 
  

 
 GENESEE & WYOMING INC.,
as Issuer 
 and 
 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee 
  

 
 Indenture

  
  

Dated as of September 19, 2012 
  

 
  

 
  

 Table of Contents 

 

					
	 	  	Page	 
	ARTICLE ONE	  
	
	DEFINITIONS AND OTHER PROVISIONS	  
	OF GENERAL APPLICATION	  
		
	 Section 1.01. Definitions
	  	 	1	  
	 Section 1.02. Compliance Certificates and Opinions
	  	 	10	  
	 Section 1.03. Form of Documents Delivered to Trustee
	  	 	11	  
	 Section 1.04. Notices, etc., to Trustee and Company
	  	 	11	  
	 Section 1.05. Notice to Holders; Waiver
	  	 	12	  
	 Section 1.06. Conflict with Trust Indenture Act
	  	 	12	  
	 Section 1.07. Effect of Headings and Table of Contents
	  	 	12	  
	 Section 1.08. Successors and Assigns
	  	 	13	  
	 Section 1.09. Separability Clause
	  	 	13	  
	 Section 1.10. Benefits of Indenture
	  	 	13	  
	 Section 1.11. Governing Law
	  	 	13	  
	 Section 1.12. Legal Holidays
	  	 	13	  
	 Section 1.13. No Security Interest Created
	  	 	14	  
	 Section 1.14. Liability Solely Corporate
	  	 	14	  
	
	ARTICLE TWO	  
	
	DEBT SECURITY FORMS	  
		
	 Section 2.01. Forms Generally
	  	 	14	  
	 Section 2.02. Form of Trustee’s Certificate of Authentication
	  	 	15	  
	 Section 2.03. Securities in Global Form
	  	 	15	  
	
	ARTICLE THREE	  
	
	THE DEBT SECURITIES	  
		
	 Section 3.01. Amount Unlimited; Issuable in Series
	  	 	16	  
	 Section 3.02. Denominations
	  	 	20	  
	 Section 3.03. Execution, Authentication, Delivery and Dating
	  	 	20	  
	 Section 3.04. Temporary Debt Securities; Global Notes Representing Registered Securities
	  	 	22	  
	 Section 3.05. Registration, Transfer and Exchange
	  	 	24	  
	 Section 3.06. Mutilated, Destroyed, Lost and Stolen Debt Securities
	  	 	25	  
	 Section 3.07. Payment of Interest; Interest Rights Preserved
	  	 	26	  
	 Section 3.08. Cancellation
	  	 	27	  
	 Section 3.09. Computation of Interest
	  	 	28	  
	 Section 3.10. Currency of Payments in Respect of Debt Securities
	  	 	28	  
	 Section 3.11. Judgments
	  	 	31	  

  
 i 

					
	 Section 3.12. Exchange Upon Default
	  	 	31	  
	 Section 3.13. CUSIP and ISN Numbers
	  	 	32	  
	
	ARTICLE FOUR	  
	
	SATISFACTION AND DISCHARGE	  
		
	 Section 4.01. Satisfaction and Discharge of Indenture
	  	 	32	  
	 Section 4.02. Application of Trust Money
	  	 	34	  
	
	ARTICLE FIVE	  
	
	REMEDIES	  
		
	 Section 5.01. Events of Default
	  	 	34	  
	 Section 5.02. Acceleration of Maturity; Rescission and Annulment
	  	 	35	  
	 Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	36	  
	 Section 5.04. Trustee May File Proofs of Claim
	  	 	37	  
	 Section 5.05. Trustee May Enforce Claims Without Possession of Debt Securities
	  	 	38	  
	 Section 5.06. Application of Money Collected
	  	 	38	  
	 Section 5.07. Limitation on Suits
	  	 	39	  
	 Section 5.08. Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	39	  
	 Section 5.09. Restoration of Rights and Remedies
	  	 	40	  
	 Section 5.10. Rights and Remedies Cumulative
	  	 	40	  
	 Section 5.11. Delay or Omission Not Waiver
	  	 	40	  
	 Section 5.12. Control by Holders
	  	 	40	  
	 Section 5.13. Waiver of Past Defaults
	  	 	41	  
	 Section 5.14. Undertaking for Costs
	  	 	41	  
	 Section 5.15. Waiver of Stay or Extension Laws
	  	 	42	  
	
	ARTICLE SIX	  
	
	THE TRUSTEE	  
		
	 Section 6.01. Certain Duties and Responsibilities
	  	 	42	  
	 Section 6.02. Notice of Defaults
	  	 	43	  
	 Section 6.03. Certain Rights of Trustee
	  	 	44	  
	 Section 6.04. Not Responsible for Recitals or Issuance of Debt Securities
	  	 	45	  
	 Section 6.05. May Hold Debt Securities
	  	 	45	  
	 Section 6.06. Money Held in Trust
	  	 	45	  
	 Section 6.07. Compensation and Reimbursement
	  	 	45	  
	 Section 6.08. Disqualification; Conflicting Interests
	  	 	46	  
	 Section 6.09. Corporate Trustee Required; Eligibility
	  	 	51	  
	 Section 6.10. Resignation and Removal; Appointment of Successor
	  	 	52	  
	 Section 6.11. Acceptance of Appointment by Successor
	  	 	53	  
	 Section 6.12. Merger, Conversion, Consolidation or Succession to Business
	  	 	54	  
	 Section 6.13. Preferential Collection of Claims Against Company
	  	 	55	  
	 Section 6.14. Appointment of Authenticating Agent
	  	 	58	  

  
 ii 

					
	ARTICLE SEVEN	  
	
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	  
		
	 Section 7.01. Company to Furnish Trustee Names and Addresses of Holders
	  	 	60	  
	 Section 7.02. Preservation of Information; Communication to Holders
	  	 	60	  
	 Section 7.03. Reports by Trustee
	  	 	62	  
	 Section 7.04. Reports by Company
	  	 	63	  
	
	ARTICLE EIGHT	  
	
	CONCERNING THE HOLDERS	  
		
	 Section 8.01. Acts of Holders
	  	 	64	  
	 Section 8.02. Proof of Ownership; Proof of Execution of Instruments by Holder
	  	 	65	  
	 Section 8.03. Persons Deemed Owners
	  	 	65	  
	 Section 8.04. Revocation of Consents; Future Holders Bound
	  	 	65	  
	
	ARTICLE NINE	  
	
	HOLDERS’ MEETINGS	  
		
	 Section 9.01. Purposes of Meetings
	  	 	66	  
	 Section 9.02. Call of Meetings by Trustee
	  	 	66	  
	 Section 9.03. Call of Meetings by Company or Holders
	  	 	66	  
	 Section 9.04. Qualifications for Voting
	  	 	67	  
	 Section 9.05. Regulations
	  	 	67	  
	 Section 9.06. Voting
	  	 	68	  
	 Section 9.07. No Delay of Rights by Meeting
	  	 	68	  
	
	ARTICLE TEN	  
	
	CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  
		
	 Section 10.01. Company May Consolidate, etc., Only on Certain Terms
	  	 	68	  
	 Section 10.02. Successor Corporation Substituted
	  	 	69	  
	
	ARTICLE ELEVEN	  
		
	SUPPLEMENTAL INDENTURES	  			
		
	 Section 11.01. Supplemental Indentures Without Consent of Holders
	  	 	69	  
	 Section 11.02. Supplemental Indentures With Consent of Holders
	  	 	71	  
	 Section 11.03. Execution of Supplemental Indentures
	  	 	72	  
	 Section 11.04. Effect of Supplemental Indentures
	  	 	72	  
	 Section 11.05. Conformity with Trust Indenture Act
	  	 	72	  
	 Section 11.06. Reference in Debt Securities to Supplemental Indentures
	  	 	72	  
	 Section 11.07. Notice of Supplemental Indenture
	  	 	73	  

  
 iii

					
	ARTICLE TWELVE	  
	
	COVENANTS	  
		
	 Section 12.01. Payment of Principal, Premium and Interest
	  	 	73	  
	 Section 12.02. Officer’s Certificate as to Default
	  	 	73	  
	 Section 12.03. Maintenance of Office or Agency
	  	 	74	  
	 Section 12.04. Money for Debt Securities; Payments To Be Held in Trust
	  	 	74	  
	 Section 12.05. Corporate Existence
	  	 	75	  
	 Section 12.06. Waiver of Certain Covenants
	  	 	76	  
	
	ARTICLE THIRTEEN	  
	
	REDEMPTION OF DEBT SECURITIES	  
		
	 Section 13.01. Applicability of Article
	  	 	76	  
	 Section 13.02. Election to Redeem; Notice to Trustee
	  	 	76	  
	 Section 13.03. Selection by Trustee of Debt Securities to Be Redeemed
	  	 	76	  
	 Section 13.04. Notice of Redemption
	  	 	77	  
	 Section 13.05. Deposit of Redemption Price
	  	 	78	  
	 Section 13.06. Debt Securities Payable on Redemption Date
	  	 	78	  
	 Section 13.07. Debt Securities Redeemed in Part
	  	 	79	  
	
	ARTICLE FOURTEEN	  
	
	SINKING FUNDS	  
		
	 Section 14.01. Applicability of Article
	  	 	79	  
	 Section 14.02. Satisfaction of Mandatory Sinking Fund Payments with Debt Securities
	  	 	79	  
	 Section 14.03. Redemption of Debt Securities for Sinking Fund
	  	 	80	  
	
	ARTICLE FIFTEEN	  
	
	DEFEASANCE	  
		
	 Section 15.01. Applicability of Article
	  	 	81	  
	 Section 15.02. Defeasance Upon Deposit of Moneys or U.S. Government Obligations
	  	 	82	  
	 Section 15.03. Deposited Moneys and U.S. Government, Obligations to Be Held in Trust
	  	 	84	  
	 Section 15.04. Repayment to Company
	  	 	84	  
	
	ARTICLE SIXTEEN	  
	
	CONVERSION	  
		
	 Section 16.01. Applicability; Conversion Privilege
	  	 	84	  
	 Section 16.02. Conversion Procedure; Conversion Price; Fractional Shares
	  	 	85	  

  
 iv 

					
	 Section 16.03. Adjustment of Conversion Price for Common Stock
	  	 	86	  
	 Section 16.04. Consolidation or Merger of the Company
	  	 	88	  
	 Section 16.05. Notice of Adjustment
	  	 	89	  
	 Section 16.06. Notice in Certain Events
	  	 	90	  
	 Section 16.07. Company to Reserve Stock; Registration; Listing
	  	 	90	  
	 Section 16.08. Taxes on Conversion
	  	 	91	  
	 Section 16.09. Conversion After Record Date
	  	 	91	  
	 Section 16.10. Company Determination Final
	  	 	92	  
	 Section 16.11. Trustee’s Disclaimer
	  	 	92	  

  
 v 

 Reconciliation and tie between Trust Indenture Act of 1939 and Indenture, dated as of September 19,
2012 
  

					
	 Trust Indenture Act Section
	  	 Indenture Section

	 Sec. 310
	 	(a)(1)	  	6.09
		 	(a)(2)	  	6.09
		 	(a)(3)	  	Not Applicable
		 	(a)(4)	  	Not Applicable
		 	(a)(5)	  	6.09
		 	(b)	  	6.08, 6.10
		 	(c)	  	Not Applicable
	 Sec. 311
	 	(a)	  	6.13(a)
		 	(b)	  	6.13(b)
		 	(c)	  	Not Applicable
	 Sec. 312
	 	(a)	  	7.01, 7.02(a)
		 	(b)	  	7.02(b)
		 	(c)	  	7.02(c)
	 Sec. 313
	 	(a)	  	7.03(a)
		 	(b)	  	7.03(b)
		 	(c)	  	7.03(a),
		 		  	7.03(c)
		 	(d)	  	7.03(d)
	 Sec. 314
	 	(a)	  	7.04, 12.02
		 	(b)	  	Not Applicable
		 	(c)(1)	  	1.02
		 	(c)(2)	  	1.02
		 	(c)(3)	  	Not Applicable
		 	(d)	  	Not Applicable
		 	(e)	  	1.02
	 Sec. 315
	 	(a)	  	6.01(a),
		 		  	6.01(c)
		 	(b)	  	6.02,
		 		  	7.03(a)(7)
		 	(c)	  	6.01(b)
		 	(d)(1)	  	6.01(a)
		 	(d)(2)	  	6.01(c)(2)
		 	(d)(3)	  	6.01(c)(3)
		 	(e)	  	5.14
	 Sec. 316
	 	(a)(1)(A)	  	5.02, 5.12
		 	(a)(1)(B)	  	5.13
		 	(a)(2)	  	Not Applicable
		 	(b)	  	5.08
		 	(c)	  	Not Applicable
	 Sec. 317
	 	(a)(1)	  	5.03
		 	(a)(2)	  	5.04
		 	(b)	  	12.04
	 Sec. 318
	 		  	1.06

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

  
 vi 

 INDENTURE dated as of September 19, 2012, between GENESEE & WYOMING INC., a
Delaware corporation (hereinafter called the “Company”), having its principal executive office at 66 Field Point Road, Greenwich, Connecticut 06830 and WILMINGTON TRUST, NATIONAL ASSOCIATION (hereinafter called the “Trustee”),
having its Corporate Trust Office at Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890. 
 RECITALS OF
THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from
time to time of its debentures, notes, bonds or other evidences of indebtedness (herein generally called the “Debt Securities”), to be issued in one or more series, as in this Indenture provided. 

All things necessary have been done to make this Indenture a valid agreement of the Company, in accordance with its terms. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of Debt Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of Debt
Securities or of Debt Securities of any series, as follows: 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 
 Section 1.01. Definitions. 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well
as the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly
or by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with generally accepted accounting principles or as provided with respect to any series of Debt Securities, and, except as otherwise herein provided or as provided with respect to any
series of Debt Securities, the term “generally accepted accounting principles” or “GAAP” with respect to any computation required or permitted hereunder with respect to any series of Debt Securities, shall mean such as 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 of the United States which are in effect as of the issuance date of such series of Debt Securities; and 

(4) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to
this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 Certain terms, used principally in Article Three or
Article Six, are defined in those respective Articles. 
 “Act” when used with respect to any Holder,
has the meaning specified in Section 8.01. 
 “Affiliate” of any specified Person means any other
Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms
“controlling,” “controlled by” and “under common control with”) 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. 

“Authenticating Agent” has the meaning specified in Section 6.14. 

“Board of Directors” means either the board of directors of the Company, or any committee of that board duly
authorized to act hereunder or any director or directors and/or officer or officers of the Company to whom that board or committee shall have delegated its authority. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” when used with respect to any Place of Payment or any other particular location referred to in this Indenture or in the Debt Securities means any day which is not a Saturday, a
Sunday or a legal holiday or a day on which banking institutions or trust companies in that Place of Payment or other location are authorized or obligated by law to close, except as otherwise specified pursuant to Section 3.01. 

“Capital Stock” means: (i) in the case of a corporation, corporate stock (however designated); (ii) in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (iii) in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited); and (iv) 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. 

  
 2 

 “Closing Price” of the Common Stock shall mean the last reported
sale price of such stock (regular way) as shown on the Composite Tape of the New York Stock Exchange (or, if such stock is not listed or admitted to trading on the New York Stock Exchange, on the principal national securities exchange on which such
stock is listed or admitted to trading), or, in case no such sale takes place on such day, the average of the closing bid and asked prices on the New York Stock Exchange (or, if such stock is not listed or admitted to trading on the New York Stock
Exchange, on the principal national securities exchange on which such stock is listed or admitted to trading), or, if it is not listed or admitted to trading on any national securities exchange, the average of the closing bid and asked prices as
reported by the National Association of Securities Dealers Automated Quotation System (NASDAQ), or if such stock is not so reported, the average of the closing bid and asked prices as furnished by any member of the National Association of Securities
Dealers, Inc., selected from time to time by the Company for that purpose. 
 “Code” means the Internal
Revenue Code of 1986, as amended. 
 “Commission” means the Securities and Exchange Commission, as from
time to time constituted, created under the Exchange Act, as amended, or if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body
performing such duties on such date. 
 “Common Stock” shall mean the Class A Common Stock, par
value $.01 per share, of the Company authorized at the date of this Indenture as originally signed, or any other class of stock resulting from successive changes or reclassifications of such Common Stock, and in any such case including any shares
thereof authorized after the date of this Indenture. 
 “Company” means the Person named as the
“Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Request” and “Company Order” mean, respectively, a written request or order signed in the
name of the Company by the Chairman of the Board, Chief Executive Officer, the President, the Chief Financial Officer or a Vice President and by the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an
Assistant Secretary of the Company, and delivered to the Trustee. 
 “Component Currency” has the
meaning specified in Section 3.10(h). 
 “Conversion Agent” means any Person authorized by the
Company to receive Debt Securities to be converted into Common Stock on behalf of the Company. The Compa ny initially authorizes the Trustee to act as Conversion Agent for the Debt 

  
 3 

 
Securities on its behalf. The Company may at any time from time to time authorize one or more Persons to act as Conversion Agent in addition to or in place of the Trustee with respect to any
series of Debt Securities issued under this Indenture. 
 “Conversion Date” has the meaning specified
in Section 3.10(d). 
 “Conversion Event” means the cessation of (i) a Foreign Currency to be
used both by the government of the country which issued such Currency and for the settlement of transactions by public institutions of or within the international banking community or (ii) any Currency unit to be used for the purposes for which
it was established. 
 “Conversion Price” means, with respect to any series of Debt Securities which
are convertible into Common Stock, the price per share of Common Stock at which the Debt Securities of such series are so convertible pursuant to Section 3.01 with respect to such series, as the same may be adjusted from time to time in
accordance with Section 16.03. 
 “Corporate Trust Office” means the principal corporate trust
office of the Trustee at which at any particular time its corporate trust business shall be administered, which office at the date of execution of this instrument is located at Rodney Square North, 1100 North Market Street, Wilmington, DE 19890,
Attn: Corporate Trust / Genesee & Wyoming. 
 “Currency” means Dollars or Foreign
Currency. 
 “Currency Determination Agent” means the agent, if any, from time to time selected by the
Trustee for purposes of Section 3.10; provided that such agent shall accept such appointment in writing and the terms of such appointment shall be acceptable to the Company and shall, in the opinion of the Company and the Trustee at the
time of such appointment, require such agent to make the determinations required by this Indenture by a method consistent with the method provided in this Indenture for the making of such decision or determination. 

“Current Market Price” on any date shall mean the average of the daily Closing Prices per share of Common Stock
for any thirty (30) consecutive Trading Days selected by the Company prior to the date in question, which thirty (30) consecutive Trading Day period shall not commence more than forty-five (45) Trading Days prior to the day in
question; provided that with respect to Section 16.03(3), the “Current Market Price” of the Common Stock shall mean the average of the daily Closing Prices per share of Common Stock for the five (5) consecutive Trading Days
ending on the date of the distribution referred to in Section 16.03(3) (or if such date shall not be a Trading Day, on the Trading Day immediately preceding such date). 

“Debt Securities” has the meaning stated in the first recital of this Indenture and more particularly means any
Debt Securities (including any Global Notes) authenticated and delivered under this Indenture. 
 “Defaulted
Interest” has the meaning specified in Section 3.07. 

  
 4 

 “Depositary” means, with respect to the Debt Securities of any
series issuable or issued in the form of one or more Global Notes, the Person designated as Depositary by the Company pursuant to Section 3.01 until a successor Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Debt Securities of any
such series shall mean the Depositary with respect to the Global Notes of that series. 
 “Discharged”
has the meaning specified in Section 15.02. 
 “Discount Security” means any Debt Security which
is issued with “original issue discount” within the meaning of Section 1273(a) of the Code (or any successor provision) and the regulations thereunder. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States
as at the time of payment is legal tender for the payment of public and private debts. 
 “Dollar Equivalent
of the Currency Unit” has the meaning specified in Section 3.10(g). 
 “Dollar Equivalent of the
Foreign Currency” has the meaning specified in Section 3.10(f). 
 “Election Date” has the
meaning specified in Section 3.10(h). 
 “Event of Default” has the meaning specified in
Section 5.01. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exchange Rate Officer’s Certificate” means a telex or a certificate setting forth (i) the applicable
Market Exchange Rate and (ii) the Dollar, Foreign Currency or Currency unit amounts of principal, premium, if any, and any interest respectively (on an aggregate basis and on the basis of a Debt Security having the lowest denomination principal
amount determined in accordance with Section 3.02 in the relevant Currency or Currency unit), payable on the basis of such Market Exchange Rate sent (in the case of a telex) or signed (in the case of a certificate) by the Treasurer or any
Assistant Treasurer of the Company. 
 “Fixed Rate Security” means a Debt Security which provides for
the payment of interest at a fixed rate. 
 “Floating Rate Security” means a Debt Security which
provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index or any other index specified pursuant to Section 3.01. 

“Foreign Currency” means any coin, currency, currency unit or composite currency, including, without limitation,
the euro, issued by the government of one or more countries other than the United States, or by any internationally recognized union, confederation or association of such governments. 

  
 5 

 “Global Note” means with respect to any series of Debt Securities
issued hereunder, a Debt Security (in either temporary or permanent form) which is executed by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this
Indenture and any indentures supplemental hereto, or resolution of the Board of Directors and set forth in an Officer’s Certificate, which shall be registered in the name of the Depositary or its nominee and which shall represent, and shall be
denominated in an amount equal to the aggregate principal amount of, all the Outstanding Debt Securities of such series or any portion thereof, in either case having the same terms, including, without limitation, the same original issue date, date
or dates on which principal is due and interest rate or method of determining interest. 
 “Holder,”
“Holder of Debt Securities” or other similar terms means, with respect to a Debt Security, the Registered Holder. 
 “Indenture” means this instrument as originally executed, or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof and, unless the context otherwise requires, shall include the terms of a particular series of Debt Securities as established pursuant to Section 3.01. 

The term “interest,” when used with respect to a Discount Security which by its terms bears interest only on a
certain date, means interest payable after such date. 
 “Interest Payment Date” with respect to any
Debt Security means the Stated Maturity of an installment of interest on such Debt Security. 
 “Market
Exchange Rate” means the noon Dollar buying rate in The City of New York for cable transfers of such currency or currencies as published by the Federal Reserve Bank of New York as of the most recent available date. If such Market Exchange Rate
is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York or, quotations from one or more major banks in The
City of New York or in the country of issue or the currency in question, which for purposes of the euro shall be any member state of the European Union that has adopted the euro, as the Trustee shall deem appropriate. 

“Maturity” when used with respect to any Debt Security means the date on which the principal of such Debt
Security or an installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption, repayment or repurchase at the option of the Holder thereof or
otherwise. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board,
Chief Executive Officer, the President, the Chief Financial Officer or a Vice President, and by the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary of the Company, and delivered to
the Trustee. 

  
 6 

 “Opinion of Counsel” means a written opinion of counsel, who may
be counsel to the Company (including an employee of the Company) and who shall be satisfactory to the Trustee, which is delivered to the Trustee. 
 “Outstanding” when used with respect to Debt Securities, means, as of the date of determination, all Debt Securities theretofore authenticated and delivered under this Indenture, except:

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

 (ii) Debt Securities for whose redemption money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Debt Securities; provided, however, that
if such Debt Securities are to be redeemed notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made and the date for such redemption has passed; and 

(iii) Debt Securities which have been paid pursuant to Section 3.06 or in exchange for or in lieu of which other Debt
Securities have been authenticated and delivered pursuant to this Indenture, other than any such Debt Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Debt Securities are held by a bona
fide purchaser in whose hands such Debt Securities are valid obligations of the Company; 
 provided,
however, that in determining whether the Holders of the requisite principal amount of Debt Securities Outstanding have performed any Act hereunder, Debt Securities owned by the Company or any other obligor upon the Debt Securities or any
Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding (provided, that in connection with any offer by the Company or any obligor to purchase Debt Securities, Debt Securities rendered by a Holder
shall be Outstanding until the date of purchase), except that, in determining whether the Trustee shall be protected in relying upon any such Act, only Debt Securities which the Trustee knows to be so owned shall be so disregarded. Debt Securities
so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act with respect to such Debt Securities and that the pledgee is not the Company
or any other obligor upon the Debt Securities or any Affiliate of the Company or of such other obligor. In determining whether the Holders of the requisite principal amount of Outstanding Debt Securities have performed any Act hereunder, the
principal amount of a Discount Security that shall be deemed to be Outstanding for such purpose 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 5.02 and the principal amount of a Debt Security denominated in a Foreign Currency that shall be deemed to be Outstanding for such purpose shall be the amount calculated pursuant to Section 3.10(j).

  
 7 

 “Overdue Rate” when used with respect to any series of the Debt
Securities, means the rate designated as such in or pursuant to the Board Resolution or the supplemental indenture, as the case may be, relating to such series as contemplated by Section 3.01. 

“Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) or
interest on any Debt Securities on behalf of the Company. 
 “Person” means any individual,
corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, estate, unincorporated organization or government or any agency or political subdivision thereof or any other entity. 

“Place of Payment” when used with respect to the Debt Securities of any series means the place or places where
the principal of (and premium, if any) and interest on the Debt Securities of that series are payable as specified pursuant to Section 3.01. 
 “Predecessor Security” of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such particular Debt Security; and,
for the purposes of this definition, any Debt Security authenticated and delivered under Section 3.06 in lieu of a mutilated, lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the mutilated, lost, destroyed or
stolen Debt Security. 
 “Redemption Date” when used with respect to any Debt Security to be redeemed,
means the date fixed for redemption by or pursuant to this Indenture, including pursuant to the Board Resolution or supplemental indenture relating to such Debt Security as contemplated by Section 3.01. 

“Redemption Price” means, in the case of a Discount Security, the amount of the principal thereof that would be
due and payable as of the Redemption Date upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, and in the case of any other Debt Security, the principal amount thereof, plus, in each case, premium, if any, and
accrued and unpaid interest, if any, to the Redemption Date. 
 “Registered Holder” means the Person in
whose name a Registered Security is registered in the Security Register. 
 “Registered Security” means
any Debt Security in the form established pursuant to Section 2.01 which is registered as to principal and interest in the Security Register. 

  
 8 

 “Regular Record Date” for the interest payable on the Registered
Securities of any series on any Interest Payment Date means the date specified for the purpose pursuant to Section 3.01 for such Interest Payment Date. 
 “Responsible Officer” when used with respect to the Trustee means any vice president, the secretary, any assistant secretary or any assistant vice president or any other officer of the Trustee
customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of
and familiarity with the particular subject. 
 “Security Register” and “Security Registrar”
have the respective meanings specified in Section 3.05(a). 
 “Special Record Date” for the
payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 3.07. 

“Specified Amount” has the meaning specified in Section 3.10(h). 

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

“Subsidiary” means, with respect to any Person, (i) any corporation, association, or other business entity
(other than a partnership) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof and (ii) any partnership of which more than 50% of the partnership’s capital
accounts, distribution rights or general or limited partnership interests are owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof. 

“Trading Day” shall mean, with respect to the Common Stock, so long as the Common Stock is listed or admitted to
trading on the New York Stock Exchange, a day on which the New York Stock Exchange is open for the transaction of business, or, if the Common Stock is not listed or admitted to trading on the New York Stock Exchange, a day on which the principal
national securities exchange on which the Common Stock is listed is open for the transaction of business, or, if the Common Stock is not so listed or admitted for trading on any national securities exchange, a day on which NASDAQ is open for the
transaction of business. 
 “Trustee” means the Person named as the “Trustee” in the first
paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder, and if at
any time there is more than one such Person, “Trustee” as used with respect to the Debt Securities of any series shall mean the Trustee with respect to Debt Securities of such series. 

  
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 “Trust Indenture Act” means the Trust Indenture Act of 1939 as
amended and as in force at the date as of which this instrument was executed, and, to the extent required by law, as amended. 
 “United States” means the United States of America (including the States and the District of Columbia), and its possessions, which include Puerto Rico, the U.S. Virgin Islands, Guam, American
Samoa, Wake Island and the Northern Mariana Islands. 
 “U.S. Government Obligations” has the meaning
specified in Section 15.02. 
 “Valuation Date” has the meaning specified in Section 3.10(c).

 “Vice President” includes with respect to the Company and the Trustee, any Vice President of the
Company or the Trustee, as the case may be, whether or not designated by a number or word or words added before or after the title “Vice President.” 
 Section 1.02. Compliance Certificates and Opinions. 
 Upon any
application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application
or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than
certificates provided pursuant to Section 12.02) shall include: 
 (1) a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

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

  
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 (4) a statement as to whether, in the opinion of each such individual, such
condition or covenant has been complied with. 
 Section 1.03. Form of Documents Delivered to Trustee.

 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters
and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows,
or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based,
insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless
such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be
consolidated and form one instrument. 
 Section 1.04. Notices, etc., to Trustee and Company. 

Any Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder (unless
otherwise herein expressly provided) if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Department, or 

(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid or airmail postage prepaid if sent from outside the United States, to the Company addressed to it at the address of its principal office specified in the first paragraph of
this instrument, to the attention of its Treasurer, or at any other address previously furnished in writing to the Trustee by the Company. 

  
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 Any such Act or other document shall be in the English language, except that any published
notice may be in an official language of the country of publication. 
 Section 1.05. Notice to Holders;
Waiver. 
 When this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given to
Registered Holders (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to such Registered Holders as their names and addresses appear in the Security Register, within the time prescribed; provided,
however, that, in any case, any notice to Holders of Floating Rate Securities regarding the determination of a periodic rate of interest, if such notice is required pursuant to Section 3.01, shall be sufficiently given if given in the manner
specified pursuant to Section 3.01. 
 In the event of suspension of regular mail service or by reason of any other cause
it shall be impracticable to give notice by mail, such notification as shall be given with the approval of the Trustee shall constitute sufficient notice for every purpose hereunder. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance on such waiver. In any case where notice to Holders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Holder shall affect the sufficiency of such notice with respect to other
Holders, and any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given. In any case where notice to Holders is given by publication, any defect in any notice so published as to any particular
Holder shall not affect the sufficiency of such notice with respect to other Holders, and any notice which is published in the manner herein provided shall be conclusively presumed to have been duly given. 

Section 1.06. Conflict with Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with the duties imposed on any Person by the provisions of Sections 310 to 317,
inclusive, of the Trust Indenture Act, such imposed duties shall control. 
 Section 1.07. Effect of Headings and
Table of Contents. 
 The Article and Section headings herein and in the Table of Contents are for convenience only and
shall not affect the construction hereof. 

  
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 Section 1.08. Successors and Assigns. 

All covenants and agreements in this Indenture by the parties hereto shall bind their respective successors and assigns and inure to the
benefit of their permitted successors and assigns, whether so expressed or not. 
 Section 1.09. Separability
Clause. 
 In case any provision in this Indenture or in the Debt Securities shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 1.10. Benefits of Indenture. 
 Nothing in this Indenture or in the Debt Securities, express or implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent and their successors hereunder,
and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 1.11. Governing Law. 
 This Indenture and the Debt Securities shall be governed by and construed in accordance with the laws of the State of New York. 
 Section 1.12. Legal Holidays. 
 Unless otherwise specified
pursuant to Section 3.01 or in any Debt Security, in any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Debt Security of any series shall not be a Business Day at any Place of Payment for the Debt Securities of
that series, then (notwithstanding any other provision of this Indenture or of the Debt Securities) payment of principal (and premium, if any) or interest need not be made at such Place of Payment on such date, but may be made on the next succeeding
Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date or at the Stated Maturity, and no interest shall accrue on the amount so payable for the period from and after such
Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day if such payment is made or duly provided for on such Business Day. 

  
 13 

 Section 1.13. No Security Interest Created. 

Nothing in this Indenture or in the Debt Securities, express or implied, shall be construed to constitute a security interest under the
Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect in any jurisdiction where property of the Company or its Subsidiaries is or may be located. 

Section 1.14. Liability Solely Corporate. 
 No recourse shall be had for the payment of the principal of (or premium, if any) or the interest on any Debt Securities, or any part thereof, or of the indebtedness represented thereby, or upon any
obligation, covenant or agreement of this Indenture, against any incorporator, or against any stockholder, officer or director, as such, past, present or future, of the Company (or any incorporator, stockholder, officer or director of any
predecessor or successor corporation), either directly or through the Company (or any such predecessor or successor corporation), whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise; it being expressly agreed and understood that this Indenture and all the Debt Securities are solely corporate obligations, and that no personal liability whatsoever shall attach to, or be incurred by, any such incorporator, stockholder,
officer or director, past, present or future, of the Company (or any incorporator, stockholder, officer or director of any such predecessor or successor corporation), either directly or indirectly through the Company or any such predecessor or
successor corporation, because of the indebtedness hereby authorized or under or by reason of any of the obligations, covenants, promises or agreements contained in this Indenture or in any of the Debt Securities or to be implied herefrom or
therefrom; and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of this Indenture and the issue of Debt Securities; provided, however, that nothing herein
or in the Debt Securities contained shall be taken to prevent recourse to and the enforcement of the liability, if any, of any stockholder or subscriber to capital stock upon or in respect of the shares of capital stock not fully paid. 

ARTICLE TWO 

DEBT SECURITY FORMS 
 Section 2.01. Forms Generally. 
 The Debt Securities of each
series shall be substantially in one of the forms (including global form) established in or pursuant to a Board Resolution or one or more indentures supplemental hereto, and shall have such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification or designation and such legends or 

  
 14 

 
endorsements placed thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or
regulation made pursuant thereto or with any rule or regulation of any securities exchange on which any series of the Debt Securities may be listed, or to conform to usage, all as determined by the officers executing such Debt Securities as
conclusively evidenced by their execution of such Debt Securities. If the form of a series of Debt Securities (or any Global Note) is established in or pursuant to a Board Resolution, a copy of such Board Resolution shall be delivered to the
Trustee, together with an Officers’ Certificate setting forth the form of such series, at or prior to the delivery of the Company Order contemplated by Section 3.03 for the authentication and delivery of such Debt Securities (or any such
Global Note). 
 The definitive Debt Securities of each series shall be printed, lithographed or engraved or produced by any
combination of these methods on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Debt Securities, as conclusively evidenced by their execution of such Debt Securities. 

Section 2.02. Form of Trustee’s Certificate of Authentication. 

The form of the Trustee’s certificate of authentication to be borne by the Debt Securities shall be substantially as follows:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the series of Debt Securities issued under the within mentioned Indenture. 
  

			
	 
	
	 
		
	By	 	 
		 	Authorized Signatory

 Section 2.03. Securities in Global Form. 

If any Debt Security of a series is issuable in global form (a “Global Note”), such Global Note may provide that it shall
represent the aggregate amount of Outstanding Debt Securities from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding Debt Securities represented thereby may from time to time be reduced to reflect exchanges.
Any endorsement of a Global Note to reflect the amount, or any increase or decrease in the amount, of Outstanding Debt Securities represented thereby shall be made by the Trustee and in such manner as shall be specified in such Global Note. Any
instructions by the Company with respect to a Global Note, after its initial issuance, shall be in writing but need not comply with Section 1.02. 

  
 15 

 Global Notes may be issued in either temporary or permanent form. Permanent Global Notes
will be issued in definitive form. 
 ARTICLE THREE 
 THE DEBT SECURITIES 
 Section 3.01. Amount Unlimited; Issuable in
Series. 
 The aggregate principal amount of Debt Securities which may be authenticated and delivered under this Indenture
is unlimited. 
 The Debt Securities may be issued in one or more series. There shall be established in or pursuant to a Board
Resolution and (subject to Section 3.03) set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Debt Securities of any series: 

(1) the title of the Debt Securities of the series (which shall distinguish the Debt Securities of such series from all
other series of Debt Securities); 
 (2) the aggregate principal amount of such series of Debt Securities and any
limit, on the aggregate principal amount of the Debt Securities of the series which may be authenticated and delivered under this Indenture (except for Debt Securities authenticated and delivered upon transfer of, or in exchange for, or in lieu of,
other Debt Securities of such series pursuant to Sections 3.04, 3.05, 3.06, 11.06 or 13.07); 
 (3) the
percentage of the principal amount at which the Debt Securities of such series will be issued and, if other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity or
upon redemption thereof or the method by which such portion shall be determined. 
 (4) the date or dates on
which or periods during which the Debt Securities of the series may be issued, and the date or dates or the method by which such date or dates will be determined, on which the principal of (and premium, if any, on) the Debt Securities of such series
are or may be payable (which, if so provided in such Board Resolution or supplemental indenture, may be determined by the Company from time to time as set forth in the Debt Securities of the series issued from time to time); 

(5) the rate or rates (which may be variable or fixed) at which the Debt Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or dates from which such interest, if any, shall accrue or the method by which such date or dates shall be determined (which, in either case or both, if so provided in such
Board Resolution or supplemental indenture, may be 

  
 16 

 
determined by the Company from time to time and set forth in the Debt Securities of the series issued from time to time); and the Interest Payment Dates on which such interest shall be payable
(or the method of determination thereof), and the Regular Record Dates, if any, for the interest payable on such Interest Payment Dates and the notice, if any, to Holders regarding the determination of interest, the manner of giving such notice, the
basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months and any conditions or contingencies as to the payment of interest in cash or otherwise, if any; 

(6) the place or places, if any, in addition to or instead of the Corporate Trust Office of the Trustee, where the
principal of (and premium, if any) and interest on Debt Securities of the series shall be payable; the extent to which, or the manner in which, any interest payable on any Global Note on an Interest Payment Date will be paid, if other than in the
manner provided in Section 3.07; and the manner in which any principal of, or premium, if any, on, any Global Note will be paid, if other than as set forth elsewhere herein and whether any Global Note will require any notation to evidence
payment of principal or interest; 
 (7) the obligation, if any, of the Company to redeem, repay, purchase or
offer to purchase Debt Securities of the series pursuant to any mandatory redemption, sinking fund or analogous provisions or upon other conditions or at the option of the Holder thereof and the period or periods within which or the dates on which,
the prices at which and the terms and conditions upon which the Debt Securities of the series shall be redeemed, repaid, purchased or offered to be purchased, in whole or in part, pursuant to such obligation; 

(8) the right, if any, of the Company to redeem the Debt Securities of such series at its option and the period or periods
within which, or the date or dates on which, the price or prices at which, and the terms and conditions upon which such Debt Securities may be redeemed, if any, in whole or in part, at the option of the Company or otherwise; 

(9) if the Currency in which the Debt Securities shall be issuable is in Dollars, the denominations of such Debt
Securities if other than denominations of $1,000 and any integral multiple thereof (except as provided in Section 3.04); 
 (10) whether the Debt Securities of the series are to be issued as Discount Securities and the amount of discount with which such Debt Securities may be issued and, if other than the principal amount
thereof, the portion of the principal amount of Debt Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02; 

(11) provisions, if any, for the defeasance or discharge of certain of the Company’s obligations with respect to Debt
Securities of the series; 
 (12) whether provisions for payment of additional amounts or tax redemptions shall
apply and, if such provisions shall apply, such provisions; 

  
 17 

 (13) if other than Dollars, the Foreign Currency or Currencies in which Debt
Securities of the series shall be denominated or in which payment of the principal of (and premium, if any) and interest on the Debt Securities of the series may be made, and the particular provisions applicable thereto and, if applicable, the
amount of Debt Securities of the series which entitles the Holder of a Debt Security of the series or its proxy to one vote for purposes of Section 9.05; 
 (14) if the principal of (and premium, if any) or interest on Debt Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a Currency other than that in which
the Debt Securities are denominated or payable without such election, in addition to or in lieu of the provisions of Section 3.10, the period or periods within which and the terms and conditions upon which, such election may be made and the
time and the manner of determining the exchange rate or rates between the Currency or Currencies in which the Debt Securities are denominated or payable without such election and the Currency or Currencies in which the Debt Securities are to be paid
if such election is made; 
 (15) the date as of which any Debt Securities of the series shall be dated, if other
than as set forth in Section 3.03; 
 (16) if the amount of payments of principal of (and premium, if any)
or interest on the Debt Securities of the series may be determined with reference to an index, including, but not limited to, an index based on a Currency or Currencies other than that in which the Debt Securities are denominated or payable, or any
other type of index, the manner in which such amounts shall be determined; 
 (17) if the Debt Securities of the
series are denominated or payable in a Foreign Currency, any other terms concerning the payment of principal of (and premium, if any) or any interest on such Debt Securities (including the Currency or Currencies of payment thereof); 

(18) the designation of the original Currency Determination Agent, if any; 

(19) the applicable Overdue Rate, if any; 

(20) if the Debt Securities of the series do not bear interest, the applicable dates for purposes of Section 7.01;

 (21) any addition to, or modification or deletion of, any Events of Default, covenants or term of the
subordination provided for with respect to Debt Securities of the series; 
 (22) whether the Debt Securities of
the series shall be issued in whole or in part in the form of one or more Global Notes and, in such case, the Depositary for such Global Note or Notes; and if the Debt Securities of the series are issuable only as Registered Securities, the manner
in which and the circumstances under which Global Notes representing Debt Securities of the series may be exchanged for Registered Securities in definitive form, if other than, or in addition to, the manner and circumstances specified in
Section 3.04(b); 

  
 18 

 (23) the designation, if any, of any depositaries, trustees (other than the
applicable Trustee), Paying Agents, Authenticating Agents, Security Registrars (other than the Trustee) or other agents with respect to the Debt Securities of such series; 

(24) if the Debt Securities of such series will be issuable in definitive form only upon receipt of certain certificates
or other documents or upon satisfaction of certain conditions, the form and terms of such certificates, documents or conditions; 
 (25) whether the Debt Securities of such series will be convertible into shares of Common Stock and, if so, the terms and conditions, which may be in addition to or in lieu of the provisions contained in
the Indenture, upon which such Debt Securities will be so convertible, including the conversion price and the conversion period; 
 (26) the portion of the principal amount of the Debt Securities which will be payable upon declaration of acceleration of the maturity thereof, if other than the principal amount thereof; 

(27) the nature, content and date for reports by the Company to the holders of the Offered Debt Securities; 

(28) any change in the right of the Trustee or the Holders to declare the principal of, and premium and interest on, such
Debt Securities due and payable; 
 (29) any other terms of the series (which terms shall not be inconsistent
with the provisions of this Indenture). 
 All Debt Securities of any one series shall be substantially identical except as to
denomination, rate of interest, Stated Maturity and the date from which interest, if any, shall accrue, which, as set forth above, may be determined by the Company from time to time as to Debt Securities of a series if so provided in or established
pursuant to the authority granted in a Board Resolution or in any such indenture supplemental hereto, and except as may otherwise be provided in or pursuant to such Board Resolution and (subject to Section 3.03) set forth in such Officers’
Certificate, or in any such indenture supplemental hereto. All Debt Securities of any one series need not be issued at the same time, and unless otherwise provided, a series may be reopened for issuance of additional Debt Securities of such series.

 If any of the terms of a series of Debt Securities is established in or pursuant to a Board Resolution, a copy of such Board
Resolution shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 

  
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 Section 3.02. Denominations. 

In the absence of any specification pursuant to Section 3.01 with respect to the Debt Securities of any series, the Debt Securities
of such series shall be issuable only as Registered Securities in denominations of $1,000 and any integral multiple thereof and shall be payable only in Dollars. 
 Section 3.03. Execution, Authentication, Delivery and Dating. 

The Debt Securities of any series shall be executed on behalf of the Company by its Chairman of the Board, Chief Executive Officer, Chief
Financial Officer, President, one of its Vice Presidents or its Treasurer, under its corporate seal reproduced thereon and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers may be manual or
facsimile. 
 Debt Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers
of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Debt Securities or did not hold such offices at the date of such Debt
Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver
Debt Securities, of any series, executed by the Company, to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Debt Securities and the Trustee in accordance with the Company Order shall
authenticate and deliver such Debt Securities. If all the Debt Securities of any one series are not to be issued at one time and if a Board Resolution or supplemental indenture relating to such series shall so permit, such Company Order may set
forth procedures acceptable to the Trustee for the issuance of such Debt Securities such as interest rate, Stated Maturity, date of issuance and date from which interest, if any, shall accrue. If any Debt Security shall be represented by a permanent
Global Note, then, for purposes of this Section and Section 3.04, the notation of a beneficial owner’s interest therein upon original issuance of such Debt Security or upon exchange of a portion of a temporary Global Note shall be deemed
to be delivery in connection with the original issuance of such beneficial owner’s interest in such permanent Global Note. 

The Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, prior to the
authentication and delivery of the Debt Securities of such series, (i) the supplemental indenture or the Board Resolution by or pursuant to which the form and terms of such Debt Securities have been approved and (ii) an Opinion of Counsel
substantially to the effect that: 
 (1) all instruments furnished by the Company to the Trustee in connection
with the authentication and delivery of such Debt Securities conform to the requirements of this Indenture and constitute sufficient authority hereunder for the Trustee to authenticate and deliver such Debt Securities; 

(2) the forms and terms of such Debt Securities have been established in conformity with the provisions of this Indenture;

  
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 (3) in the event that the forms or terms of such Debt Securities have been
established in a supplemental indenture, the execution and delivery of such supplemental indenture has been duly authorized by all necessary corporate action of the Company, such supplemental indenture has been duly executed and delivered by the
Company and, assuming due authorization, execution and delivery by the Trustee, is a valid and binding obligation enforceable against the Company in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws affecting
creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law); 

(4) the execution and delivery of such Debt Securities have been duly authorized by all necessary corporate action of the
Company and such Debt Securities have been duly executed by the Company and, assuming due authentication by the Trustee and delivery by the Company, are valid and binding obligations enforceable against the Company in accordance with their terms,
entitled to the benefit of the Indenture, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law) and subject to such other exceptions as counsel shall request and as to which the Trustee shall not reasonably object; and 

(5) the amount of Debt Securities Outstanding of such series, together with the amount of such Debt Securities, does not
exceed any limit established under the terms of this Indenture on the amount of Debt Securities of such series that may be authenticated and delivered. 
 The Trustee shall not be required to authenticate such Debt Securities if the issuance of such Debt Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities
under the Debt Securities and this Indenture in a manner which is not reasonably acceptable to the Trustee. 
 Each Registered
Security shall be dated the date of its authentication. 
 No Debt Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such Debt Security a certificate of authentication substantially in one of the forms provided for herein duly executed by the Trustee or by an Authenticating Agent, and such
certificate upon any Debt Security shall be conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if
any Debt Security shall have been duly authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Debt Security to the Trustee for cancellation as provided in Section 3.08 together with a
written statement (which need not comply with Section 1.02) stating that such Debt Security has never been issued and sold by the Company, for all purposes of this Indenture such Debt Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

  
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 Section 3.04. Temporary Debt Securities; Global Notes Representing Registered
Securities. 
 (a) Pending the preparation of definitive Registered Securities of any series, the Company may execute, and
upon Company Order the Trustee shall authenticate and deliver, temporary Registered Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination for Registered Securities of such series,
substantially of the tenor of the definitive Registered Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Registered Securities may
determine, as conclusively evidenced by their execution of such Registered Securities. Every such temporary Registered Security shall be executed by the Company and shall be authenticated and delivered by the Trustee upon the same conditions and in
substantially the same manner, and with the same effect, as the definitive Registered Securities in lieu of which they are issued. 
 If temporary Debt Securities of any series are issued, the Company will cause definitive Debt Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Debt
Securities of such series, the temporary Debt Securities of such series shall be exchangeable for definitive Debt Securities of such series, of a like Stated Maturity and with like terms and provisions, upon surrender of the temporary Debt
Securities of such series at the office or agency of the Company in a Place of Payment for such series, without charge to the Holder, except as provided in Section 3.05 in connection with a transfer. Upon surrender for cancellation of any one
or more temporary Debt Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Debt Securities of the same series of authorized denominations and
of a like Stated Maturity and like terms and provisions. Until so exchanged, the temporary Registered Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Registered Securities of such
series. 
 (b) If the Company shall establish pursuant to Section 3.01 that the Registered Securities of a series are to be
issued in whole or in part in the form of one or more Global Notes, then the Company shall execute and the Trustee shall, in accordance with Section 3.03 and the Company Order with respect to such series, authenticate and deliver one or more
Global Notes in temporary or permanent form that (i) shall represent and shall be denominated in an amount equal to the aggregate principal amount of the Outstanding Debt Securities of such series to be represented by one or more Global Notes,
(ii) shall be registered in the name of the Depositary for such Global Note or Notes or the nominee of such depositary, (iii) shall be delivered by the Trustee or delivered or held pursuant to such Depositary’s instruction, and
(iv) shall bear a legend substantially to the following effect: “This Debt Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another
nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary, unless and until this Debt Security is exchanged in whole or in part for Debt Securities in definitive
form.” 

  
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 Each Depositary designated pursuant to Section 3.01 must, at the time of its
designation and at all times while it serves as Depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation. 
 Notwithstanding any other provision of this Section or Section 3.05, unless and until a Global Note is exchanged in whole or in part for Registered Securities in definitive form, a Global Note
representing all or a portion of the Registered Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor depositary. 
 If at any time the Depositary for the Debt Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Debt Securities of such series or if at any time the
Depositary for Debt Securities of a series shall no longer be a clearing agency registered and in good standing under the Exchange Act or other applicable statute or regulation (as required by this Section 3.04), the Company shall appoint a
successor Depositary eligible under this Section 3.04 with respect to the Debt Securities of such series. If a successor Depositary for the Debt Securities of such series is not appointed by the Company within 90 days after the Company receives
such notice or becomes aware of such condition, the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Debt Securities of such series, will authenticate and deliver, Registered
Securities of such series in definitive form in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such series in exchange for such Global Note or Notes. 

The Company may at any time and in its sole discretion determine that the Registered Securities of any series issued in the form of one
or more Global Notes shall no longer be represented by such Global Note or Notes. In such event, the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Debt Securities of such
series, will authenticate and deliver, Registered Securities of such series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such series in exchange for such Global Note
or Notes. 
 If the Registered Securities of any series shall have been issued in the form of one or more Global Notes and if an
Event of Default with respect to the Debt Securities of such series shall have occurred and be continuing, the Company will promptly execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Debt
Securities of such series, will authenticate and deliver, Registered Securities of such series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Note or Notes representing such series in exchange for
such Global Note or Notes. 
 If specified by the Company pursuant to Section 3.01 with respect to Registered Securities of
a series, the Depositary for such series of Registered Securities may surrender a Global Note for such series of Debt Securities in exchange in whole or in part for Registered Securities of such series in definitive form on such terms as are
acceptable to the Company and such depositary. Thereupon, the Company shall execute and the Trustee shall authenticate and deliver, without charge: 

  
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 (i) to each Person specified by the Depositary a new Registered Security or
Securities of the same series, of any authorized denomination as requested by such Person in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Note; and 

(ii) to the Depositary a new Global Note in a denomination equal to the difference, if any, between the principal amount
of the surrendered Global Note and the aggregate principal amount of Registered Securities delivered to Holders thereof. 
 Upon
the exchange of a Global Note for Registered Securities in definitive form, such Global Note shall be cancelled by the Trustee. Debt Securities issued in exchange for a Global Note pursuant to this subsection (b) shall be registered in such
names and in such authorized denominations as the U.S. Depositary for such Global Note, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Debt Securities to the
Persons in whose names such Debt Securities are so registered. 
 Section 3.05. Registration, Transfer and
Exchange. 
 (a) The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the registers
maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Registered Securities and of transfers and exchanges of Registered Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Registered
Securities and registering transfers and exchanges of Registered Securities as herein provided; provided, however, that the Company may at its option appoint co-Security Registrars. 

Upon surrender for registration of transfer of any Registered Security of any series at the office or agency of the Company maintained
for such purpose, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee, one or more new Registered Securities of the same series of like aggregate principal amount of such denominations
as are authorized for Registered Securities of such series and of a like Stated Maturity and with like terms and conditions. 

Except as otherwise provided in Section 3.04 and this Section 3.05, at the option of the Holder, Registered Securities of any
series may be exchanged for other Registered Securities of the same series of like aggregate principal amount and of a like Stated Maturity and with like terms and conditions, upon surrender of the Registered Securities to be exchanged at such
office or agency. Whenever any Registered Securities are surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled to receive.

 (b) All Debt Securities issued upon any transfer or exchange of Debt Securities shall be valid obligations of the Company,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Debt Securities surrendered for such transfer or exchange. 

  
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 Every Registered Security presented or surrendered for transfer or exchange shall (if so
required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar, duly executed, by the Holder thereof or his attorney duly authorized in
writing. 
 No service charge will be made for any transfer or exchange of Debt Securities except as provided in
Section 3.06. The Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration, transfer or exchange of Debt Securities, other than those expressly
provided in this Indenture to be made at the Company’s own expense or without expense or without charge to the Holders. 

The Company shall not be required (i) to register, transfer or exchange Debt Securities of any series during a period beginning at
the opening of business 15 days before the day of the transmission of a notice of redemption of Debt Securities of such series selected for redemption under Section 13.03 and ending at the close of business on the day of such transmission, or
(ii) to register, transfer or exchange any Debt Security so selected for redemption in whole or in part, except the unredeemed portion of any Debt Security being redeemed in part. 

Section 3.06. Mutilated, Destroyed, Lost and Stolen Debt Securities. 

If (i) any mutilated Debt Security is surrendered to the Trustee at its Corporate Trust Office, or (ii) the Company and the
Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Debt Security, and there is delivered to the Company and the Trustee such security or indemnity as may be required by them to save each of them and any Paying
Agent harmless, and neither the Company nor the Trustee receives notice that such Debt Security has been acquired by a bona fide purchaser, then the Company shall execute and upon Company Request the Trustee shall authenticate and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen Debt Security, a new Debt Security of the same series of like Stated Maturity and with like terms and conditions and like principal amount, bearing a number not
contemporaneously used with respect to any Debt Securities Outstanding. 
 In case any such mutilated, destroyed, lost or stolen
Debt Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Debt Security, pay the amount due on such Debt Security in accordance with its terms. 

Upon the issuance of any new Debt 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 respect thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Debt Security of any series issued pursuant to this Section shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt
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 Debt Securities of that series duly issued hereunder. 

  
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 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 Debt Securities. 

Section 3.07. Payment of Interest; Interest Rights Preserved. 

(a) Interest on any Registered Security which is payable and is punctually paid or duly provided for on any Interest Payment Date shall
be paid to the Person in whose name such Registered Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest notwithstanding the cancellation of such Registered Security
upon any transfer or exchange subsequent to the Regular Record Date. Unless otherwise specified as contemplated by Section 3.01 with respect to the Debt Securities of any series, payment of interest on Registered Securities shall be made at the
place or places specified pursuant to Section 3.01 or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address appears in the Security Register or, if provided pursuant to Section 3.01,
by wire transfer to an account designated by the Registered Holder. 
 (b) Any interest on any Debt Security which is payable
but is not punctually paid or duly provided for on any Interest Payment Date (herein called “Defaulted Interest”) shall, if such Debt Security is a Registered Security, forthwith cease to be payable to the Registered Holder on the relevant
Regular Record Date by virtue of his having been such Registered Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Registered
Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each such Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money in the Currency or Currency
unit in which the Debt Securities of such series are payable (except as otherwise specified pursuant to Sections 3.01 or 3.10) equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the
Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which date shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the
Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date 

  
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and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage
prepaid, to the Holders of such Registered Securities at their addresses as they appear in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special
Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Registered Securities (or their respective Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following clause (2). 
 (2) The Company may make
payment of any Defaulted Interest on Registered Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Registered Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

(c) Subject to the foregoing provisions of this Section, each Debt Security delivered under this Indenture upon transfer of or in
exchange for or in lieu of any other Debt Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Debt Security. 
 Section 3.08. Cancellation. 
 Unless otherwise specified pursuant
to Section 3.01 for Debt Securities of any series, all Debt Securities surrendered for payment, redemption, transfer, exchange or credit against any sinking fund shall, if surrendered to any Person other than the Trustee, be delivered to the
Trustee. All Registered Securities so delivered shall be promptly cancelled by the Trustee. The Company may at any time deliver to the Trustee for cancellation any Debt Securities previously authenticated and delivered hereunder which the Company
may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Debt Securities previously authenticated hereunder which the Company has not issued, and all Debt
Securities so delivered shall be promptly cancelled by the Trustee. No Debt Securities shall be authenticated in lieu of or in exchange for any Debt Securities cancelled as provided in this Section, except as expressly permitted by this Indenture.
All cancelled Debt Securities held by the Trustee shall be delivered to the Company upon Company Request. The acquisition of any Debt Securities by the Company shall not operate as a redemption or satisfaction of the indebtedness represented thereby
unless and until such Debt Securities are surrendered to the Trustee for cancellation. Permanent Global Notes shall not be destroyed until exchanged in full for definitive Debt Securities or until payment thereon is made in full. 

  
 27 

 Section 3.09. Computation of Interest. 

Except as otherwise specified pursuant to Section 3.01 for Debt Securities of any series, interest on the Debt Securities of each
series shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Section 3.10. Currency of
Payments in Respect of Debt Securities. 
 (a) With respect to Registered Securities of any series not permitting the
election provided for in paragraph (b) below or the Holders of which have not made the election provided for in paragraph (b) below, except as provided in paragraph (d) below, payment of the principal of (and premium, if any) and any
interest on any Registered Security of such series will be made in the Currency in which such Registered Security is payable. 

(b) It may be provided pursuant to Section 3.01 with respect to the Registered Securities of any series that Holders shall have the
option, subject to paragraphs (d) and (e) below, to receive payments of principal of (and premium, if any) and any interest on such Registered Securities in any of the Currencies which may be designated for such election by delivering to
the Trustee a written election, to be in form and substance satisfactory to the Trustee, not later than the close of business on the Election Date immediately preceding the applicable payment date. If a Holder so elects to receive such payments in
any such Currency, such election will remain in effect for such Holder or any transferee of such Holder until changed by such Holder or such transferee by written notice to the Trustee (but any such change must be made not later than the close of
business on the Election Date immediately preceding the next payment date to be effective for the payment to be made on such payment date and no such change or election may be made with respect to payments to be made on any Registered Security of
such series with respect to which an Event of Default has occurred or notice of redemption has been given by the Company pursuant to Article Thirteen). Any Holder of any such Registered Security who shall not have delivered any such election to the
Trustee by the close of business on the applicable Election Date will be paid the amount due on the applicable payment date in the relevant Currency as provided in paragraph (a) of this Section 3.10. 

(c) If the election referred to in paragraph (b) above has been provided for pursuant to Section 3.01, then not later than the
fourth Business Day after the Election Date for each payment date, the Trustee will deliver to the Company a written notice specifying the Currency in which such series of the Registered Securities is payable, the respective aggregate amounts of
principal of (and premium, if any) and any interest on the Registered Securities to be paid on such payment date, specifying the amounts so payable in respect of the Registered Securities as to which the Holders of Registered Securities denominated
in any Currency shall have elected to be paid in another Currency as provided in paragraph (b) above. If the election referred to in paragraph (b) above has been provided for pursuant to Section 3.01 and if at least one Holder has
made such election, then, on the second Business Day preceding each payment date, the Company will deliver to the Trustee an Exchange Rate Officer’s Certificate in respect of the Currency payments to be made on such payment date. The Currency
amount receivable by Holders of Registered Securities who have elected payment in a Currency as provided in paragraph (b) above shall be determined by the Company on the basis of the applicable Market Exchange Rate in effect on the third
Business Day (the “Valuation Date”) immediately preceding each payment date. 

  
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 (d) If a Conversion Event occurs with respect to a Foreign Currency or any other Currency
unit in which any of the Debt Securities are denominated or payable other than pursuant to an election provided for pursuant to paragraph (b) above, then with respect to each date for the payment of principal of (and premium, if any) and any
interest on the applicable Debt Securities denominated or payable in such Foreign Currency or such other Currency unit occurring after the last date on which such Foreign Currency, or such other Currency unit was used (the “Conversion
Date”), the Dollar shall be the Currency of payment for use on each such payment date. The Dollar amount to be paid by the Company to the Trustee and by the Trustee or any Paying Agent to the Holders of such Debt Securities with respect to such
payment date shall be the Dollar Equivalent of the Foreign Currency or, in the case of a Currency unit, the Dollar Equivalent of the Currency Unit, in each case as determined by the Currency Determination Agent, if any, or, if there shall not be a
Currency Determination Agent, then by the Trustee, in the manner provided in paragraph (f) or (g) below. 
 (e) If the
Holder of a Registered Security denominated in any Currency shall have elected to be paid in another Currency as provided in paragraph (b) above, and a Conversion Event occurs with respect to such elected Currency, such Holder shall receive
payment in the Currency in which payment would have been made in the absence of such election. If a Conversion Event occurs with respect to the Currency in which payment would have been made in the absence of such election, such Holder shall receive
payment in Dollars as provided in paragraph (d) of this Section 3.10. 
 (f) The “Dollar Equivalent of the
Foreign Currency” shall be determined by the Currency Determination Agent, if any, or, if there shall not be a Currency Determination Agent, then by the Trustee, and shall be obtained for each subsequent payment date by converting the specified
Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date. 
 (g) The “Dollar Equivalent of the
Currency Unit” shall be determined by the Currency Determination Agent, if any, or, if there shall not be a Currency Determination Agent, then by the Trustee, and subject to the provisions of paragraph (h) below, shall be the sum of each
amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment. 

(h) For purposes of this Section 3.10 the following terms shall have the following meanings: 

A “Component Currency” shall mean any Currency which, on the Conversion Date, was a component Currency of the
relevant Currency unit. 
 A “Specified Amount” of a Component Currency shall mean the number of units
of such Component Currency or fractions thereof which were represented in the relevant Currency unit on the Conversion Date. If after the Conversion Date the official unit of 

  
 29 

 
any Component Currency is altered by way of combination or subdivision, the Specified Amount of such Component Currency shall be divided or multiplied in the same proportion. If after the
Conversion Date two or more Component Currencies are consolidated into a single Currency, the respective Specified Amounts of such Component Currencies shall be replaced by an amount in such single Currency equal to the sum of the respective
Specified Amounts of such consolidated Component Currencies expressed in such single Currency, and such amount shall thereafter be a Specified Amount and such single Currency shall thereafter be a Component Currency. If after the Conversion Date any
Component Currency shall be divided into two or more Currencies, the Specified Amount of such Component Currency shall be replaced by amounts of such two or more Currencies with appropriate Dollar equivalents at the Market Exchange Rate on the date
of such replacement equal to the Dollar equivalent of the Specified Amount of such former Component Currency at the Market Exchange Rate on such date, and such amounts shall thereafter be Specified Amounts and such Currencies shall thereafter be
Component Currencies. If after the Conversion Date of the relevant Currency unit a Conversion Event (other than any event referred to above in this definition of “Specified Amount”) occurs with respect to any Component Currency of such
Currency unit, the Specified Amount of such Component Currency shall, for purposes of calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the Conversion Date of such Component
Currency. 
 “Election Date” shall mean the record date with respect to any payment date, and with
respect to the Maturity shall mean the record date (if within 16 or fewer days prior to the Maturity) immediately preceding the Maturity, and with respect to any series of Debt Securities whose record date immediately preceding the Maturity is more
than 16 days prior to the Maturity or any series of Debt Securities for which no record dates are provided with respect to interest payments, shall mean the date which is 16 days prior to the Maturity. 

(i) All decisions and determinations of the Trustee or the Currency Determination Agent, if any, regarding the Dollar Equivalent of the
Foreign Currency, the Dollar Equivalent of the Currency Unit and the Market Exchange Rate shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the Company and all
Holders of the Debt Securities denominated or payable in the relevant Currency. In the event of a Conversion Event with respect to a Foreign Currency, the Company, after learning thereof, will immediately give written notice thereof to the Trustee
(and the Trustee will promptly thereafter give notice in the manner provided in Section 1.05 to the Holders) specifying the Conversion Date. In the event of a Conversion Event with respect to any Currency unit in which Debt Securities are
denominated or payable, the Company, after learning thereof, will immediately give notice thereof to the Trustee (and the Trustee will promptly thereafter give written notice in the manner provided in Section 1.05 to the Holders) specifying the
Conversion Date and the Specified Amount of each Component Currency on the Conversion Date. In the event of any subsequent change in any Component Currency as set forth in the definition of Specified Amount above, the Company, after learning
thereof, will similarly give written notice to the Trustee. The Trustee shall be fully justified and protected in relying and acting upon information received by it from the Company and the Currency Determination Agent, if any, and shall not
otherwise have any duty or obligation to determine such information independently. 

  
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 (j) For purposes of any provision of the Indenture where the Holders of Outstanding Debt
Securities may perform an Act which requires that a specified percentage of the Outstanding Debt Securities of all series perform such Act and for purposes of any decision or determination by the Trustee of amounts due and unpaid for the principal
(and premium, if any) and interest on the Debt Securities of all series in respect of which moneys are to be disbursed ratably, the principal of (and premium, if any) and interest on the Outstanding Debt Securities denominated in a Foreign Currency
will be the amount in Dollars based upon the Market Exchange Rate for Debt Securities of such series, as of the date for determining whether the Holders entitled to perform such Act have performed it, or as of the date of such decision or
determination by the Trustee, as the case may be. 
 Section 3.11. Judgments. 

If for the purpose of obtaining a judgment in any court with respect to any obligation of the Company hereunder or under any Debt
Security, it shall become necessary to convert into any other Currency any amount in the Currency due hereunder or under such Debt Security, then such conversion shall be made at the Market Exchange Rate as in effect on the date the Company shall
make payment to any Person in satisfaction of such judgment. If pursuant to any such judgment, conversion shall be made on a date other than the date payment is made and there shall occur a change between such Market Exchange Rate and the Market
Exchange Rate as in effect on the date of payment, the Company agrees to pay such additional amounts (if any) as may be necessary to ensure that the amount paid is equal to the amount in such other Currency which, when converted at the Market
Exchange Rate as in effect on the date of payment or distribution, is the amount then due hereunder or under such Debt Security. Any amount due from the Company under this Section 3.11 shall be due as a separate debt and is not to be affected
by or merged into any judgment being obtained for any other sums due hereunder or in respect of any Debt Security. In no event, however, shall the Company be required to pay more in the Currency or Currency unit due hereunder or under such Debt
Security at the Market Exchange Rate as in effect when payment is made than the amount of Currency stated to be due hereunder or under such Debt Security so that in any event the Company’s obligations hereunder or under such Debt Security will
be effectively maintained as obligations in such Currency, and the Company shall be entitled to withhold (or be reimbursed for, as the case may be) any excess of the amount actually realized upon any such conversion over the amount due and payable
on the date of payment or distribution. 
 Section 3.12. Exchange Upon Default. 

If default is made in the payments referred to in Section 12.01, the Company hereby undertakes that upon presentation and surrender
of a permanent Global Note to the Trustee (or to any other Person or at any other address as the Company may designate in 

  
 31 

 
writing), on any Business Day on or after the maturity date thereof the Company will issue and the Trustee will authenticate and deliver to the Holder of such permanent Global Note duly executed
and authenticated definitive Debt Securities with the same issue date and maturity date as set out in such permanent Global Note. 
 Section 3.13. CUSIP and ISN Numbers. 
 The Company in issuing the
Debt Securities may use “CUSIP” and “ISN” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” and “ISN” 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 accuracy of such numbers either as printed on the Debt Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Debt Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the “CUSIP” or “ISN” numbers.

 ARTICLE FOUR 
 SATISFACTION AND DISCHARGE 
 Section 4.01. Satisfaction and Discharge
of Indenture. 
 This Indenture, with respect to the Debt Securities of any series (if all series issued under this
Indenture are not to be affected), shall, upon Company Request, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of such Debt Securities herein expressly provided for and rights to receive
payments of principal (and premium, if any) and interest on such Debt Securities) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 
 (A) all Debt Securities of such series theretofore authenticated and delivered (other than (i) Debt Securities of such series which have been destroyed, lost or stolen and which have been replaced or
paid as provided in Section 3.06, and (ii) Debt Securities of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged
from such trust, as provided in Section 12.04) have been delivered to the Trustee for cancellation; or 

(B) all Debt Securities of such series not theretofore delivered to the Trustee for cancellation, 

(i) have become due and payable, or 

  
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 (ii) will become due and payable at their Stated Maturity within one year,
or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice by the Trustee in the name, and at the expense, of the Company, 
 and the Company, either complies with any other
condition or terms specified pursuant to Section 3.01, or if not so specified in the case of (i), (ii) or (iii) of this subclause (B), has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for
such purpose an amount in the Currency in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay and discharge the entire indebtedness on such Debt Securities for principal
(and premium, if any) and interest to the date of such deposit (in the case of Debt Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; provided, however, in the event a
petition for relief under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or other similar law, is filed with respect to the Company within 91 days after the deposit and
the Trustee is required to return the deposited money to the Company, the obligations of the Company under this Indenture with respect to such Debt Securities shall not be deemed terminated or discharged; 

(2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; 

(3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series have been complied with; and 
 (4) the Company has delivered to the Trustee an Opinion of Counsel or a ruling by the Internal Revenue Service to the effect that Holders of the Debt Securities of the series will not recognize income,
gain or loss for Federal income tax purposes as a result of such deposit and discharge. 
 Notwithstanding the satisfaction and discharge of
this Indenture, the obligations of the Company to the Trustee under Section 6.07, the obligations of the Trustee to any Authenticating Agent under Section 6.14, the obligations of the Company under Section 12.01, and, if money shall
have been deposited with the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 12.04, shall survive. If, after the deposit
referred to in Section 4.01 has been made, (x) the Holder of a Debt Security is entitled to, and does, elect pursuant to Section 3.10(b), to receive payment in a Currency other than that in which the deposit pursuant to
Section 4.01 was made, or (y) if a Conversion Event occurs with respect to the Currency in which the deposit was made or elected to be received by the Holder pursuant to Section 3.10(b), then the indebtedness represented by such Debt
Security shall be fully discharged to the extent that the deposit made with respect to such Debt Security shall be converted into the Currency in which such payment is made. 

  
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 Section 4.02. Application of Trust Money. 

Subject to the provisions of the last paragraph of Section 12.04, all money deposited with the Trustee pursuant to Section 4.01
shall be held in trust and applied by it, in accordance with the provisions of the Debt Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee
may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee. 
 ARTICLE FIVE 
 REMEDIES 

Section 5.01. Events of Default. 
 “Event of Default” wherever used herein with respect to Debt Securities of any series means any one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1) default in the payment of any interest upon any Debt Security of such series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of (and
premium, if any, on) any Debt Security of such series at its Maturity; or 
 (3) default in the deposit of any
sinking fund payment, when and as due by the terms of a Debt Security of such series; or 
 (4) default in the
performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which expressly has been
included in this Indenture solely for the benefit of Debt Securities of a series other than such series), and continuance of such default or breach for a period of 30 days after there has been given, by registered or certified mail, to the Company
by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Debt Securities of such series, a written notice specifying such default or breach and requiring it to be remedied and stating
that such notice is a “Notice of Default” hereunder; or 

  
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 (5) the entry of a decree or order for relief in respect of the Company by a
court having jurisdiction in the premises in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law, or a decree or order adjudging
the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a receiver,
liquidator, assignee, custodian, 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
unstayed and in effect for a period of 60 consecutive days; or 
 (6) the commencement by the Company of a
voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law, or the consent by it to the entry of an order for relief in an involuntary case
under any such law or to the appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator (or other similar official) of the Company or of any substantial part of its property, or the making by it of an assignment for the
benefit of its creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action; or 

(7) any other Event of Default provided with respect to Debt Securities of that series pursuant to Section 3.01.

 Section 5.02. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default with respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then in every such
case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Debt Securities of such series may declare the principal amount (or, if any Debt Securities of such series are Discount Securities, such portion of the
principal amount of such Discount Securities as may be specified in the terms of such Discount Securities) of all the Debt Securities of such 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) plus accrued and unpaid interest (and premium, if payable) shall become immediately due and payable. Upon payment of such amount in the Currency in which
such Debt Securities are denominated (except as otherwise provided pursuant to Sections 3.01 or 3.10), all obligations of the Company in respect of the payment of principal of the Debt Securities of such series shall terminate. 

At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a judgment or
decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if 

  
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 (1) the Company has paid or deposited with the Trustee a sum in the Currency
in which such Debt Securities are denominated (except as otherwise provided pursuant to Section 3.01 or 3.10) sufficient to pay 
  

	 	(A)	all overdue installments of interest on all Debt Securities of such series, 

 

	 	(B)	the principal of (and premium, if any, on) any Debt Securities of such series which have become due otherwise than by such declaration of acceleration and interest
thereon at the rate or rates prescribed therefor in such Debt Securities, 

  

	 	(C)	to the extent that payment of such interest is lawful, interest upon overdue installments of interest on each Debt Security of such series at the Overdue Rate, and

  

	 	(D)	all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel;
provided, however, that all sums payable under this clause (D) shall be paid in Dollars; 

 and

 (2) All Events of Default with respect to Debt Securities of such series, other than the nonpayment of the
principal of Debt Securities of such series which has become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 
 No such rescission and waiver shall affect any subsequent default or impair any right consequent thereon. 
 Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if 
 (1) default is made in the payment
of any installment of interest on any Debt Security when such interest or payment becomes due and payable and such default continues for a period of 30 days, 
 (2) default is made in the payment of principal of (or premium, if any, on) any Debt Security at the Maturity thereof, or 

(3) default is made in the making or satisfaction of any sinking fund payment or analogous obligation when the same
becomes due pursuant to the terms of the Debt Securities of any series, 

  
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the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Debt Securities, the amount then due and payable on such Debt Securities, for the principal (and
premium, if any) and interest, if any, and, to the extent that payment of such interest shall be legally enforceable, interest upon the overdue principal (and premium, if any) and upon overdue installments of interest, at the Overdue Rate; and, in
addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

If the Company fails to pay such amount 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, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon such Debt Securities, 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 upon such Debt Securities wherever situated. 
 If an Event of Default with respect to Debt Securities of any series occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of
Debt Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of
the exercise of any power granted herein, or to enforce any other proper remedy. 
 Section 5.04. Trustee May File
Proofs of Claim. 
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization,
arrangement, adjustment, composition or other judicial proceedings, or any voluntary or involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, relative to the Company or any other obligor upon the Debt Securities, of a
particular series or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of such Debt Securities shall then be due and payable as therein expressed or by declaration of
acceleration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise,

 (i) to file and prove a claim for the whole amount of principal (or, if the Debt Securities of such series are
Discount Securities, such portion of the principal amount as may be due and payable with respect to such series pursuant to a declaration in accordance with Section 5.02) (and premium, if any) and interest owing and unpaid in respect of the
Debt Securities of such series and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and of the Holders of such Debt Securities allowed in such judicial proceeding, and 

  
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 (ii) to collect and receive any moneys or other property payable or
deliverable on any such claims and to distribute the same; 
 and any receiver, assignee, trustee, custodian, liquidator, sequestrator (or other
similar official) in any such proceeding is hereby authorized by each such Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to such Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder
any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities of such series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 Section 5.05. Trustee May Enforce Claims Without Possession of Debt Securities. 

All rights of action and claims under this Indenture or the Debt Securities of any series may be prosecuted and enforced by the Trustee
without the possession of any of such Debt Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name, as trustee of an express trust, and any recovery
of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Debt Securities in respect of which such
judgment has been recovered. 
 Section 5.06. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal (and premium, if any) or interest, upon presentation of the Debt Securities of any series in respect of which money has been collected and the notation thereon of the
payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST: To the payment of all amounts
due the Trustee under Section 6.07. 
 SECOND: To the payment of the amounts then due and unpaid for
principal of (and premium, if any) and interest on the Debt Securities of such series, in respect of which or for the benefit of which such money has been collected ratably, without preference or priority of any kind, according to the amounts due
and payable on such Debt Securities for principal (and premium, if any) and interest, respectively; and 

  
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 THIRD: The balance, if any, to the Person or Persons entitled thereto.

 Section 5.07. Limitation on Suits. 
 No Holder of any Debt Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or
for any other remedy hereunder, unless 
 (1) such Holder has previously given written notice to the Trustee of a
continuing Event of Default with respect to such series; 
 (2) the Holders of not less than 25% in principal
amount of the Outstanding Debt Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to
be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no direction inconsistent
with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Debt Securities of such series; 
 it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or
prejudice the rights of any other such Holders or of the Holders of Outstanding Debt Securities of any other series, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. For the protection and enforcement of the provisions of this Section 5.07, each and every Holder of Debt Securities of any series and
the Trustee for such series shall be entitled to such relief as can be given at law or in equity. 

Section 5.08. Unconditional Right of Holders to Receive Principal, Premium and Interest. 

Notwithstanding any other provision in this Indenture, the Holder of any Debt Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.07) interest on such Debt Security on the respective Stated Maturity or Maturities expressed in such Debt Security (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment and interest thereon, and such right shall not be impaired without the consent of such Holder. 

  
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 Section 5.09. Restoration of Rights and Remedies. 

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

Section 5.10. Rights and Remedies Cumulative. 
 Except as otherwise expressly provided elsewhere in this Indenture, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 5.11. Delay or Omission Not Waiver. 
 No delay or
omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or any acquiescence therein. Every right and remedy
given by this Indenture or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 5.12. Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Debt Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Debt Securities of such series, provided, that 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture; 

  
 40 

 (2) subject to the provisions of Section 6.01, the Trustee shall have
the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Responsible Officers of the Trustee, determine that the proceeding so directed would be unjustly prejudicial to the Holders of Debt
Securities of such series not joining in any such direction; and 
 (3) the Trustee may take any other action
deemed proper by the Trustee which is not inconsistent with such direction. 
 Section 5.13. Waiver of Past
Defaults. 
 The Holders of not less than a majority in aggregate principal amount of the Outstanding Debt Securities of any
series may on behalf of the Holders of all the Debt Securities of any such series waive any past default hereunder with respect to such series and its consequences, except a default 

(1) in the payment of the principal of (or premium, if any) or interest on any Debt Security of such series, or in the
payment of any sinking fund installment or analogous obligation with respect to the Debt Securities of such series, or 
 (2) in respect of a covenant or provision hereof which pursuant to Article Eleven cannot be modified or amended without the consent of the Holder of each Outstanding Debt Security of such series affected.

 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have
been cured, for every purpose of the Debt Securities of such series under this Indenture, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 5.14. Undertaking for Costs. 
 All parties to this Indenture agree, and each Holder of any Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit other than the Trustee of an undertaking to pay the
costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made
by such party litigant, but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder or group of Holders holding in the aggregate more than 10% in principal amount of the Outstanding
Debt Securities of any series, or to any suit instituted by any Holder of a Debt Security for the enforcement of the payment of the principal of (or premium, if any) or interest on such Debt Security on or after the respective Stated Maturity or
Maturities expressed in such Debt Security (or, in the case of redemption, on or after the Redemption Date). 

  
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 Section 5.15. Waiver of Stay or Extension Laws. 

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

THE TRUSTEE 

Section 6.01. Certain Duties and Responsibilities. 

(a) Except during the continuance of an Event of Default with respect to the Debt Securities of any series, 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture,
and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture; but in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture. 
 (b) In case an Event of Default with respect to Debt Securities of any series
has occurred and is continuing, the Trustee shall, with respect to the Debt Securities of such series, exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent
man would exercise or use under the circumstances in the conduct of his own affairs. 
 (c) No provision of this Indenture shall
be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 

  
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 (1) this subsection shall not be construed to limit the effect of subsection
(a) of this Section; 
 (2) the Trustee shall not be liable for any error of judgment made in good faith by
a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (3) the Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Debt Securities of any series in good faith in accordance with the direction of
the Holders of a majority in principal amount of the Outstanding Debt 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; and 
 (4) the Trustee shall not be required to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 (d) Whether or not therein expressly
so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 

Section 6.02. Notice of Defaults. 
 Within 90 days after the occurrence of any default hereunder with respect to Debt Securities, of any series, the Trustee shall give notice to all Holders of Debt Securities of such series of such default
hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Debt Security of
such series or in the payment of any sinking fund installment with respect to Debt Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust
committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interest of the Holders of Debt Securities of such series; and provided, further, that in the case of any default
of the character specified in Section 5.01(4) with respect to Debt Securities of such series no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term
“default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Debt Securities of such series. 
 Notice given pursuant to this Section 6.02 shall be transmitted by mail: 
 (1) to all Registered Holders, as the names and addresses of the Registered Holders appear in the Security Register; and 

  
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 (2) to each Holder of a Debt Security of any series whose name and address
appear in the information preserved at the time by the Trustee in accordance with Section 7.02(a) of this Indenture. 

Section 6.03. Certain Rights of Trustee. 
 Except as otherwise provided in Section 6.01: 
 (a) the Trustee may rely and
shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or
document believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request or
direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 

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

(d) 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; 
 (e) 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 Debt Securities of any series
pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

(f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; and

 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent (including any agent appointed pursuant to Section 3.10(i)) or attorney appointed with due care by it hereunder.

  
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 Section 6.04. Not Responsible for Recitals or Issuance of Debt Securities.

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

Section 6.05. May Hold Debt Securities. 
 The Trustee, any Paying Agent, the Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Debt Securities, and, subject to
Sections 6.08 and 6.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent. 
 Section 6.06. Money Held in Trust. 
 Money in any Currency held
by the Trustee or any Paying Agent in trust hereunder need not be segregated from other funds except to the extent required by law. Neither the Trustee nor any Paying Agent shall be under any liability for interest on any money received by it
hereunder except as otherwise agreed with the Company. 
 Section 6.07. Compensation and Reimbursement.

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

  
 45 

 (3) to indemnify in Dollars the Trustee for, and to hold it harmless
against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this trust or performance of its duties hereunder, including the costs and
expenses of defending itself against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 As security for the performance of the obligations of the Company under this Section, the Trustee shall have a claim prior to the Debt Securities, upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the payment of amounts due on the Debt Securities. 
 The obligations of the
Company under this Section 6.07 to compensate and indemnify the Trustee for expenses, disbursements and advances shall constitute additional indebtedness under this Indenture and shall survive the satisfaction and discharge of this Indenture.

 Section 6.08. Disqualification; Conflicting Interests. 

(a) If the Trustee has or shall acquire any conflicting interest, as defined in this Section with respect to the Debt Securities of any
series, then, within 90 days after ascertaining that it has such conflicting interest, and if the default (as hereinafter defined) to which such conflicting interest relates has not been cured or duly waived or otherwise eliminated before the end of
such 90-day period, the Trustee shall either eliminate such conflicting interest or, except as otherwise provided below, resign with respect to the Debt Securities of such series, and the Company shall take prompt steps to have a successor
appointed, in the manner and with the effect hereinafter specified in this Article. 
 (b) In the event that the Trustee shall
fail to comply with the provisions of subsection (a) of this Section with respect to the Debt Securities of any series, the Trustee shall, within 10 days after the expiration of such 90-day period, transmit to all Holders of Debt Securities of
such series notice of such failure. 
 Notice given pursuant to this Section 6.08(b) shall be transmitted by mail:

 (1) to all Registered Holders, as the names and addresses of the Registered Holders appear in the Security
Register; and 
 (2) to each Holder of a Debt Security of any series whose name and address appear in the
information preserved at the time by the Trustee in accordance with Section 7.02(a) of this Indenture. 
 (c) For the
purposes of this Section, the Trustee shall be deemed to have a conflicting interest with respect to the Debt Securities of any series, if there shall exist an Event of Default (as such term is defined herein, but exclusive of any period of grace or
requirement of notice) with respect to such Debt Securities and 

  
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 (1) the Trustee is trustee under this Indenture with respect to the
Outstanding Debt Securities of any series other than that series or is trustee under another indenture under which any other securities, or certificates of interest or participation in any other securities, of the Company are outstanding, unless
such other indenture is a collateral trust indenture under which the only collateral consists of Debt Securities issued under this Indenture, provided that there shall be excluded from the operation of this paragraph this Indenture with respect to
the Debt Securities of any series other than that series and any other indenture or indentures under which other securities, or certificates of interest or participation in other securities, of the Company are outstanding, if 

(i) this Indenture and such other indenture or indentures (and all series of securities issuable thereunder) are wholly
unsecured and rank equally and such other indenture or indentures are hereafter qualified under the Trust Indenture Act, unless the Commission shall have found and declared by order pursuant to Section 305(b) or Section 307(c) of the Trust
Indenture Act that differences exist between the provisions of this Indenture with respect to the Debt Securities of such series and one or more other series or the provisions of such other indenture or indentures which are so likely to involve a
material conflict of interest as to make it necessary, in the public interest or for the protection of investors to disqualify the Trustee from acting as such under this Indenture with respect to the Debt Securities of such series and such other
series or under such other indenture or indentures, or 
 (ii) the Company shall have sustained the burden of
proving, on application to the Commission and after opportunity for hearing thereon, that trusteeship under this Indenture with respect to the Debt Securities of such series and such other series or such other indenture or indentures is not so
likely to involve a material conflict of interest as to make it necessary in the public interest or for the protection of investors to disqualify the Trustee from acting as such under this Indenture with respect to the Debt Securities of such series
and such other series or under such other indenture or indentures; 
 (2) the Trustee or any of its directors or
executive officers is an underwriter for the Company; 
 (3) the Trustee directly or indirectly controls or is
directly or indirectly controlled by or is under direct or indirect common control with an underwriter for the Company; 
 (4) the Trustee or any of its directors or executive officers is a director, officer, partner, employee, appointee or representative of the Company, or of an underwriter (other than the Trustee itself)
for the Company who is currently engaged in the business of underwriting, except that (i) one individual may be a director or an executive officer, or both, of the Trustee and a director or an executive officer, or both, of the Company but may
not be at the same time an executive officer of both the Trustee and the Company; (ii) if and so long as the number of directors of the Trustee in office is more than nine, one additional individual may be a director or an executive officer, or

  
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both, of the Trustee and a director of the Company; and (iii) the Trustee may be designated by the Company or by any underwriter for the Company to act in the capacity of transfer agent,
registrar, custodian, paying agent, fiscal agent, escrow agent, or depositary or in any other similar capacity, or, subject to the provisions of paragraph (l) of this subsection, to act as trustee, whether under an indenture or otherwise;

 (5) 10% or more of the voting securities of the Trustee is beneficially owned either by the Company or by any
director, partner or executive officer thereof, or 20% or more of such voting securities is beneficially owned, collectively, by any two or more of such persons; or 10% or more of the voting securities of the Trustee is beneficially owned either by
an underwriter for the Company or by any director, partner or executive officer thereof or is beneficially owned, collectively, by any two or more such persons; 
 (6) the Trustee is the beneficial owner of, or holds as collateral security for an obligation which is in default (as hereinafter in this subsection defined), (i) 5% or more of the voting securities,
or 10% or more of any other class of security, of the Company not including the Debt Securities issued under this Indenture and securities issued under any other indenture under which the Trustee is also trustee, or (ii) 10% or more of any
class of security of an underwriter for the Company; 
 (7) the Trustee is the beneficial owner of or holds as
collateral security for an obligation which is in default, 5% or more of the voting securities of any person who, to the knowledge of the Trustee, owns 10% or more of the voting securities of, or controls directly or indirectly or is under direct or
indirect common control with, the Company; 
 (8) the Trustee is the beneficial owner of or holds as collateral
security for an obligation which is in default, 10% or more of any class of security of any person who, to the knowledge of the Trustee, owns 50% or more of the voting securities of the Company; 

(9) the Trustee owns, on the date of such Event of Default or any anniversary of such Event of Default while such Event of
Default remains outstanding, in the capacity of executor, administrator, testamentary or inter vivos trustee, guardian, committee or conservator, or in any other similar capacity, an aggregate of 25% or more of the voting securities, or of any class
of security, of any person, the beneficial ownership of a specified percentage of which would have constituted a conflicting interest under paragraph (6), (7) or (8) of this subsection. As to any such securities of which the Trustee
acquired ownership through becoming executor, administrator or testamentary trustee of an estate which included them, the provisions of the preceding sentence shall not apply, for a period of not more than two years from the date of such
acquisition, to the extent that such securities included in such estate do not exceed 25% of such voting securities or 25% of any such class of security. Promptly after the dates of any such Event of Default and annually in each succeeding year that
such Event of Default continues, the Trustee shall make a check of its holdings of such securities in any of the above-mentioned capacities as of such dates. If the Company fails to make payment in full of the principal of (or premium, if any) or
interest on any of the Debt Securities when and as the same becomes due and payable, and such failure continues for 30 days 

  
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thereafter, the Trustee shall make a prompt check of its holdings of such securities in any of the above-mentioned capacities as of the date of the expiration of such 30-day period, and after
such date, notwithstanding the foregoing provisions of this paragraph, all such securities so held by the Trustee, with sole or joint control over such securities vested in it, shall be considered as though beneficially owned by the Trustee for the
purposes of paragraphs (6), (7) and (8) of this subsection; or 
 (10) except under the circumstances
described in paragraphs (1), (3), (4), (5) or (6) of Section 6.13(b) of this Indenture, the Trustee shall be or shall become a creditor of the Company. 
 For the purposes of paragraph (1) of this subsection, the term “series of securities” or “series” means a series, class or group of securities issuable under an indenture pursuant
to whose terms holders of one such series may vote to direct the Trustee, or otherwise take action pursuant to a vote of such holders, separately from holders of another series; provided, that “series of securities” or “series”
shall not include any series of securities issuable under an indenture if all such series rank equally and are wholly unsecured. 
 The specification of percentages in paragraphs (5) to (9), inclusive, of this subsection shall not be construed as indicating that the ownership of such percentages of the securities of a person is
or is not necessary or sufficient to constitute direct or indirect control for the purposes of paragraph (3) or (7) of this subsection. 
 For the purposes of paragraphs (6), (7), (8) and (9) of this subsection only, (i) the terms “security” and “securities” shall include only such securities as are
generally known as corporate securities, but shall not include any note or other evidence of indebtedness issued to evidence an obligation to repay moneys lent to a person by one or more banks, trust companies or banking firms, or any certificate of
interest or participation in any such note or evidence of indebtedness; (ii) an obligation shall be deemed to be “in default” when a default in payment of principal shall have continued for 30 days or more and shall not have been
cured; and (iii) the Trustee shall not be deemed to be the owner or holder of (A) any security which it holds as collateral security, as trustee or otherwise, for an obligation which is not in default as defined in clause (ii) above,
or (B) any security which it holds as collateral security under this Indenture, irrespective of any default hereunder, or (C) any security which it holds as agent for collection, or as custodian, escrow agent or depositary, or in any
similar representative capacity. 
 (d) For the purposes of this Section: 

(1) The term “underwriter” when used with reference to the Company means every person who, within one year prior
to the time as of which the determination is made, has purchased from the Company with a view to, or has offered or sold for the Company in connection with, the distribution of any security of the Company outstanding at such time, or has
participated or has had a direct or indirect participation in any such undertaking, or has participated or has had a participation in the direct or indirect underwriting of any such undertaking, but such term shall not include a person whose
interest was limited to a commission from an underwriter or dealer not in excess of the usual and customary distributors’ or sellers’ commission. 

  
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 (2) The term “director” means any director of a corporation, or
any individual performing similar functions with respect to any organization whether incorporated or unincorporated. 
 (3) The term “person” means an individual, a corporation, a partnership, an association, a joint stock company, a trust, an estate, an unincorporated organization, or a government or political
subdivision thereof. As used in this paragraph, the term “trust” shall include only a trust where the interest or interests of the beneficiary or beneficiaries are evidenced by a security. 

(4) The term “voting security” means any security presently entitling the owner or holder thereof to vote in the
direction or management of the affairs of a person, or any security issued under or pursuant to any trust, agreement or arrangements whereby a trustee or trustees or agent or agents for the owner or holder of such security are presently entitled to
vote in the direction or management of the affairs of a person. 
 (5) The term “Company” means any
obligor upon the Debt Securities of any series. 
 (6) The term “executive officer” means the
president, every vice president, every trust officer, the cashier, the secretary, and the treasurer of a corporation, and any individual customarily performing similar functions with respect to any organization, whether incorporated or
unincorporated, but shall not include the chairman of the board of directors. 
 (e) The percentages of voting securities and
other securities specified in this Section shall be calculated in accordance with the following provisions: 

(1) A specified percentage of the voting securities of the Trustee, the Company or any other person referred to in this
Section (each of whom is referred to as a “person” in this paragraph) means such amount of the outstanding voting securities of such person as entitles the holder or holders thereof to cast such specified percentage of the aggregate votes
which the holders of all the outstanding voting securities of such person are entitled to cast in the direction or management of the affairs of such person. 
 (2) A specified percentage of a class of securities of a person means such percentage of the aggregate amount of securities of the class outstanding. 

(3) The term “amount”, when used with regard to securities means the principal amount if relating to evidences
of indebtedness, the number of shares if relating to capital shares, and the number of units if relating to any other kind of security. 
 (4) The term “outstanding” means issued and not held by or for the account of the issuer. The following securities shall not be deemed outstanding within the meaning of this definition:

 (i) securities of an issuer held in a sinking fund relating to securities of the issuer of the same class;

  
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 (ii) securities of an issuer held in a sinking fund relating to another
class of securities of the issuer, if the obligation evidenced by such other class of securities is not in default as to principal or interest or otherwise; 
 (iii) securities pledged by the issuer thereof as security for an obligation of the issuer not in default as to principal or interest or otherwise; and 

(iv) securities held in escrow if placed in escrow by the issuer thereof; 

provided, however, that any voting securities of an issuer shall be deemed outstanding if any person other than the issuer is entitled to
exercise the voting rights thereof. 
 (5) A security shall be deemed to be of the same class as another security
if both securities confer upon the holder or holders thereof substantially the same rights and privileges; provided, however, that, in the case of secured evidences of indebtedness, all of which are issued under a single indenture, differences in
the interest rates or maturity dates of various series thereof shall not be deemed sufficient to constitute such series different classes; and provided, further, that, in the case of unsecured evidences of indebtedness, differences in
the interest rates or maturity dates thereof shall not be deemed sufficient to constitute them securities of different classes, whether or not they are issued under a single indenture. 

(f) Except in the case of a default in the payment of the principal of or interest on any Debt Security of any series, or in the payment
of any sinking or purchase fund installment, the Trustee shall not be required to resign as provided by this Section if the Trustee shall have sustained the burden of proving, on application to the Commission and after opportunity for hearing
thereon, that: 
 (1) the Event of Default may be cured or waived during a reasonable period and under the
procedures described in such application; and 
 (2) a stay of the Trustee’s duty to resign will not be
inconsistent with the interests of Holders of the Debt Securities. 
 The filing of such an application shall automatically stay the performance
of the duty to resign until the Commission orders otherwise. 
 Section 6.09. Corporate Trustee Required;
Eligibility. 
 There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business
under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $100,000,000, subject to supervision or
examination by Federal, State or District of Columbia authority. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes
of this Section, the combined capital 

  
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and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. Neither the Company nor any person
directly or indirectly controlling, controlled by, or under common control with the Company shall serve as Trustee upon any Debt Securities. 
 Section 6.10. Resignation and Removal; Appointment of Successor. 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective
until the acceptance of appointment by the successor Trustee under Section 6.11. 
 (b) The Trustee may resign at any time
with respect to the Debt Securities of one or more series by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. 

(c) The Trustee may be removed at any time with respect to the Debt Securities of any series and a successor Trustee appointed by Act of
the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, delivered to the Trustee and to the Company. 
 (d) If at any time: 
 (1) the Trustee shall fail to comply with
Section 6.08(a) with respect to the Debt Securities of any series after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months, or 

(2) the Trustee shall cease to be eligible under Section 6.09 with respect to the Debt Securities of any series and
shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the Trustee
shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company by a Board Resolution may remove the
Trustee with respect to all Debt Securities, or (ii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Debt Security of any series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee for the Debt Securities of such series. 

  
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 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Debt Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Debt Securities of that or
those series (it being understood that any such successor Trustee may be appointed with respect to the Debt Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Debt Securities of
any particular series) and shall comply with the applicable requirements of Section 6.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Debt
Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment, become the successor Trustee with respect to the Debt Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to
the Debt Securities of any series shall have been so appointed by the Company or the Holders of such series and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Debt Security of such series for
at least six months may, subject to Section 5.14, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such
series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Debt
Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series in the manner and to the extent provided in Section 1.05 to the Holders of Debt Securities of such series. Each notice shall
include the name of the successor Trustee with respect to the Debt Securities of such series and the address of its Corporate Trust Office. 
 Section 6.11. Acceptance of Appointment by Successor. 
 (a) In
the case of an appointment hereunder of a successor Trustee with respect to all Debt Securities, each such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the
retiring Trustee, but, on request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the
retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 6.07. 

(b) In case of the appointment hereunder of a successor Trustee with respect to the Debt Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor Trustee with respect to the Debt Securities of one or more series shall execute and 

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

(c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 

Section 6.12. Merger, Conversion, Consolidation or Succession to Business. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that
such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Debt Securities shall have been authenticated, but
not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Debt Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Debt Securities. In case any Debt Securities shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Debt Securities, in either its
own name or that of its predecessor Trustee, with the full force and effect which this Indenture provides for the certificate of authentication of the Trustee. 

  
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 Section 6.13. Preferential Collection of Claims Against Company.

 (a) Subject to subsection (b) of this Section, if the Trustee shall be or shall become a creditor, directly or
indirectly, secured or unsecured, of the Company within three months prior to a default, as defined in subsection (c) of this Section, or subsequent to such default, then, unless and until such default shall be cured, the Trustee shall set
apart and hold in a special account for the benefit of the Trustee individually, the Holders of the Debt Securities and the holders of other indenture securities (as defined in subsection (c) of this Section): 

(1) an amount equal to any and all reductions in the amount due and owing upon any claim as such creditor in respect of
principal or interest, effected after the beginning of such three-month period and valid as against the Company and its other creditors, except any such reduction resulting from the receipt or disposition of any property described in paragraph
(2) of this subsection, or from the exercise of any right of set-off which the Trustee could have exercised if a voluntary or involuntary case had been commenced in respect of the Company under the Federal bankruptcy laws, as now or hereafter
constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law upon the date of such default; and 
 (2) all property received by the Trustee in respect of any claim as such creditor, either as security therefor, or in satisfaction or composition thereof, or otherwise, after the beginning of such
three-month period, or an amount equal to the proceeds of any such property, if disposed of, subject, however, to the rights, if any, of the Company and its other creditors in such property or such proceeds. 

Nothing herein contained, however, shall affect the right of the Trustee: 

(A) to retain for its own account (i) payments made on account of any such claim by any Person (other than the
Company) who is liable thereon, and (ii) the proceeds of the bona fide sale of any such claim by the Trustee to a third Person, and (iii) distributions made in cash, securities or other property in respect of claims filed against the
Company in bankruptcy or receivership or in proceedings or reorganization pursuant to the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law; 

(B) to realize, for its own account, upon any property held by it as security for any such claim, if such property was so
held prior to the beginning of such three-month period; 
 (C) to realize, for its own account, but only to the
extent of the claim hereinafter mentioned, upon any property held by it as security for any such claim, if such claim was created after the beginning of such three-month period and such property was received as security therefor simultaneously with
the creation thereof, and if the Trustee shall sustain the burden of proving that at the time such property was so received the Trustee had no reasonable cause to believe that a default, as defined in subsection (c) of this Section, would occur
within three months, or 

  
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 (D) to receive payment on any claim referred to in paragraph (B) or
(C) against the release of any property held as security for such claim as provided in paragraph (B) or (C), as the case may be, to the extent of the fair value of such property. 

For the purposes of paragraphs (B), (C) and (D), property substituted after the beginning of such three-month period for property
held as security at the time of such substitution shall, to the extent of the fair value of the property released, have the same status as the property released, and, to the extent that any claim referred to in any of such paragraphs is created in
renewal of or in substitution for or for the purpose of repaying or refunding any pre-existing claim of the Trustee as such creditor, such claim shall have the same status as such pre-existing claim. 

If the Trustee shall be required to account, the funds and property held in such special account and the proceeds thereof shall be
apportioned among the Trustee, the Holders and the holders of other indenture securities in such manner that the Trustee, the Holders and the holders of other indenture securities realize, as a result of payments from such special account and
payments of dividends on claims filed against the Company in bankruptcy or receivership or in proceedings for reorganization pursuant to the Federal bankruptcy laws, as now or hereafter constituted or any other applicable Federal or State
bankruptcy, insolvency or other similar law, the same percentage of their respective claims, figured before crediting to the claim of the Trustee anything on account of the receipt by it from the Company of the funds and property in such special
account and before crediting to the respective claims of the Trustee and the Holders and the holders of other indenture securities dividends on claims filed against the Company in bankruptcy or receivership or in proceedings for reorganization
pursuant to the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar law, but after crediting thereon receipts on account of the indebtedness represented by their
respective claims from all sources other than from such dividends and from the funds and property so held in such special account. As used in this paragraph, with respect to any claim, the term “dividends” shall include any distribution
with respect to such claim, in bankruptcy or receivership or proceedings for reorganization pursuant to the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or other similar
law, whether such distribution is made in cash, securities, or other property, but shall not include any such distribution with respect to the secured portion, if any, of such claim. The court in which such bankruptcy, receivership or proceedings
for reorganization is pending shall have jurisdiction (i) to apportion among the Trustee and the Holders and the holders of other indenture securities, in accordance with the provisions of this paragraph, the funds and property held in such
special account and proceeds thereof, or (ii) in lieu of such apportionment, in whole or in part, to give to the provisions of this paragraph due consideration in determining the fairness of the distributions to be made to the Trustee and the
Holders and the holders of other indenture securities with respect to their respective claims, in which event it shall not be necessary to liquidate or to appraise the value of any securities or other property held in such special account or as
security for any such claim, or to make a specific allocation of such distributions as between the secured and unsecured portions of such claim, or otherwise to apply the provisions of this paragraph as a mathematical formula. 

  
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 Any Trustee which has resigned or been removed after the beginning of such three-month
period shall be subject to the provisions of this subsection as though such resignation or removal had not occurred. If any Trustee has resigned or been removed prior to the beginning of such three-month period, it shall be subject to the provisions
of this subsection if and only if the following conditions exist: 
 (i) the receipt of property or reduction of
claim, which would have given rise to the obligation to account, if such Trustee had continued as Trustee, occurred after the beginning of such three-month period; and 

(ii) such receipt of property or reduction of claim occurred within three months after such resignation or removal.

 (b) There shall be excluded from the operation of subsection (a) of this Section a creditor relationship arising from:

 (1) the ownership or acquisition of securities issued under any indenture, or any security or securities
having a maturity of one year or more at the time of acquisition by the Trustee; 
 (2) advances authorized by a
receivership or bankruptcy court of competent jurisdiction or by this Indenture, for the purpose of preserving any property which shall at any time be subject to the Lien of this Indenture or of discharging tax liens or other prior liens or
encumbrances thereon, if notice of such advances and of the circumstances surrounding the making thereof is given to the Holders at the time and in the manner provided in this Indenture; 

(3) disbursements made in the ordinary course of business in the capacity of trustee under an indenture, transfer agent,
registrar, custodian, paying agent, fiscal agent or depositary, or other similar capacity; 
 (4) an indebtedness
created as a result of services rendered or premises rented, or an indebtedness created as a result of goods or securities sold in a cash transaction as defined in subsection (c) of this Section; 

(5) the ownership of stock or of other securities of a corporation organized under the provisions of Section 25(a) of
the Federal Reserve Act, as amended, which is directly or indirectly a creditor of the Company; and 
 (6) The
acquisition, ownership, acceptance or negotiation of any drafts, bills of exchange, acceptances or obligations which fall within the classification of self-liquidating paper as defined in subsection (c) of this Section. 

  
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 (c) for the purposes of this Section only: 

(1) The term “default” means any failure to make payment in full of the principal of or interest on any of the
Debt Securities or upon the other indenture securities when and as such principal or interest becomes due and payable. 
 (2) The term “other indenture securities” means securities upon which the Company is an obligor outstanding under any other indenture (i) under which the Trustee is also trustee,
(ii) which contains provisions substantially similar to the provisions of this Section, and (iii) under which a default exists at the time of the apportionment of the funds and property held in such special account. 

(3) The term “cash transaction” means any transaction in which full payment for goods or securities sold is made
within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks and payable upon demand. 
 (4) The term “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or incurred by the Company for the purpose of financing the
purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or merchandise or the receivables or proceeds
arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship with the Company arising from the making,
drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 
 (5) The term
“Company” means any obligor upon the Debt Securities. 
 Section 6.14. Appointment of Authenticating
Agent. 
 As long as any Debt Securities of a series remain Outstanding, upon a Company Request, there shall be an
authenticating agent (the “Authenticating Agent”) appointed, for such period as the Company shall elect, by the Trustee for such series of Debt Securities to act as its agent on its behalf and subject to its direction in connection with
the authentication and delivery of each series of Debt Securities for which it is serving as Trustee. Debt Securities of each such series authenticated by such Authenticating Agent shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by such Trustee. Wherever reference is made in this Indenture to the authentication and delivery of Debt Securities of any series by the Trustee for such series or to the Trustee’s
Certificate of Authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee for such series by an Authenticating Agent for such series and a Certificate of Authentication executed on behalf of such
Trustee by such Authenticating Agent, except that only the Trustee may authenticate Debt Securities upon original issuance and pursuant to Section 3.06 hereof. Such Authenticating Agent shall at all times be a corporation organized and doing
business under the laws of the United States of America or of any State, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least 

  
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$10,000,000 and subject to supervision or examination by Federal or State authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the
requirements of said supervising or examining authority, then for purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report
of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this
Section. 
 Any corporation into which any Authenticating Agent may be merged or converted, or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which any Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency business of any Authenticating Agent, shall continue to
be the Authenticating Agent with respect to all series of Debt Securities for which it served as Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee for such series or such Authenticating
Agent. Any Authenticating Agent may at any time, and if it shall cease to be eligible shall, resign by giving written notice of resignation to the applicable Trustee and to the Company. 

Upon receiving such a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section 6.14 with respect to one or more or all series of Debt Securities, the Trustee for such series shall upon a Company Request appoint a successor Authenticating Agent, and the Company
shall provide notice of such appointment to all Holders of Debt Securities of such series in the manner and to the extent provided in Section 1.05. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. The Trustee for the Debt Securities of such series agrees to pay to the Authenticating
Agent for such series from time to time reasonable compensation for its services, and the Trustee shall be entitled to be reimbursed for such payment, subject to the provisions of Section 6.07. The Authenticating Agent for the Debt Securities
of any series shall have no responsibility or liability for any action taken by it as such at the direction of the Trustee for such series. 
 If an appointment with respect to one or more series is made pursuant to this Section, the Debt Securities of such series may have endorsed thereon, in addition to the Trustee’s certificate of
authentication, an alternative certificate of authentication in the following form: 
 This is one of the series of Debt
Securities issued under the within mentioned Indenture. 
  

	
	 
	
	  
	As Trustee

  

			
	By:	 	 
		 	 As Authenticating Agent

  

			
	By:	 	 
		 	 Authorized Signatory

  
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 ARTICLE SEVEN 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

Section 7.01. Company to Furnish Trustee Names and Addresses of Holders. 

The Company will furnish or cause to be furnished to the Trustee with respect to Registered Securities of each series for which it acts
as Trustee: 
 (a) semi-annually on a date not more than 15 days after each Regular Record Date with respect to an Interest
Payment Date, if any, for the Registered Securities of such series (or on semi-annual dates in each year to be determined pursuant to Section 3.01 if the Registered Securities of such series do not bear interest), a list, in such form as the
Trustee may reasonably require, of the names and addresses of the Registered Holders as of the date 15 days next preceding each such Regular Record Date (or such semi-annual dates, as the case may be); and 

(b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a
list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 provided,
however, that if and so long as the Trustee shall be the Security Registrar for such series, no such list need be furnished. 
 Section 7.02. Preservation of Information; Communication to Holders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of Holders contained in the most recent list furnished to the Trustee as
provided in Section 7.01 received by it in the capacity of Paying Agent (if so acting) hereunder. 
 The Trustee may
destroy any list furnished to it as provided in Section 7.01 upon receipt of a new list so furnished, destroy any information received by it as Paying Agent (if so acting) hereunder upon delivering to itself as Trustee, not earlier than 45 days
after an Interest Payment Date, a list containing the names and addresses of the Holders obtained from such information since the delivery of the next previous list, if any, and destroy any list delivered to itself as Trustee which was compiled from
information received by it as Paying Agent (if so acting) hereunder upon the receipt of a new list so delivered. 

  
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 (b) If three or more Holders (hereinafter referred to as “applicants”) apply in
writing to the Trustee, and furnish to the Trustee reasonable proof that each such applicant has owned a Debt Security for a period of at least six months preceding the date of such application, and such application states that the applicants desire
to communicate with other Holders of Debt Securities of a particular series (in which case the applicants must hold Debt Securities of such series) or with all Holders of Debt Securities with respect to their rights under this Indenture or under the
Debt Securities and is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election, either

 (i) afford such applicants access to the information preserved at the time by the Trustee in accordance with
Section 7.02(a), or 
 (ii) inform such applicants as to the approximate number of Holders of Debt
Securities of such series or of all Debt Securities, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee in accordance with Section 7.02(a), and as to the approximate cost of mailing to
such Holders the form of proxy or other communication, specified in such application. 
 If the Trustee shall elect not to
afford such applicants access to such information, the Trustee shall, upon written request of such applicants, mail to the Holders of Debt Securities of such series or all Holders, as the case may be, whose names and addresses appear in the
information preserved at the time by the Trustee in accordance with Section 7.02(a), a copy of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material
to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender, the Trustee shall mail to such applicants and file with the Commission, together with a copy of the material
to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary to the best interests of the Holders of Debt Securities of such series or all Holders, as the case may be, or would be in violation
of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of
such objections or if after the entry of an order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so
declaring, the Trustee shall mail copies of such material to all such Holders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such
applicants respecting their application. 
 (c) Every Holder of Debt Securities, by receiving and holding the same, agrees with
the Company and the Trustee that neither the Company nor the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 7.02(b), regardless of
the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing of any material pursuant to a request made under Section 7.02(b). 

  
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 Section 7.03. Reports by Trustee. 

(a) Within 60 days after January 1 of each year, commencing January 1, 2013, the Trustee shall, to the extent required by the Trust
Indenture Act, transmit to all Holders of Debt Securities of any series with respect to which it acts as Trustee, in the manner hereinafter provided in this Section 7.03, a brief report dated such date with respect to any of the following
events which may have occurred within the previous 12 months (but if no such event has occurred within such period no report need be transmitted): 
 (1) any change to its eligibility under Section 6.09 and its qualifications under Section 6.08; 
 (2) the creation of or any material change to a relationship specified in paragraph (1) through (10) of Section 6.08(c) of this Indenture; 

(3) the character and amount of any advances (and if the Trustee elects so to state, the circumstances surrounding the
making thereof) made by the Trustee (as such) which remain unpaid on the date of such report, and for the reimbursement of which it claims or may claim a lien or charge, prior to that of the Debt Securities of such series, on any property or funds
held or collected by it as Trustee, except that the Trustee shall not be required (but may elect) to report such advances if such advances so remaining unpaid aggregate not more than 1/2 of 1% of the principal amount of the Outstanding Debt
Securities of such series on the date of such report; 
 (4) any change to the amount, interest rate and maturity
date of all other indebtedness owing by the Company (or any other obligor on the Debt Securities of such series) to the Trustee in its individual capacity, on the date of such report, with a brief description of any property held as collateral
security therefor, except an indebtedness based upon a creditor relationship arising in any manner described in Section 6.13(b)(2), (3), (4) or (6); 
 (5) any change to the property and funds, if any, physically in the possession of the Trustee as such on the date of such report; 

(6) any additional issue of Debt Securities which the Trustee has not previously reported; and 

(7) any action taken by the Trustee in the performance of its duties hereunder which it has not previously reported and
which in its opinion materially affects the Debt Securities of such series, except action in respect of a default, notice of which has been or is to be withheld by the Trustee in accordance with Section 6.02. 

  
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 (b) The Trustee shall transmit by mail to all Holders of Debt Securities of any series
(whose names and addresses appear in the information preserved at the time by the Trustee in accordance with Section 7.02 (a)) for which it acts as the Trustee, as hereinafter provided, a brief report with respect to the character and amount of
any advances (and if the Trustee elects so to state, the circumstances surrounding the making thereof) made by the Trustee (as such) since the date of the last report transmitted pursuant to subsection (a) of this Section (or if no such report
has yet been so transmitted, since the date of execution of this instrument) for the reimbursement of which it claims or may claim a lien or charge, prior to that of the Debt Securities of such series, on property or funds held or collected by it as
Trustee, and which it has not previously reported pursuant to this subsection, except that the Trustee for each series shall not be required (but may elect) to report such advances if such advances remaining unpaid at any time aggregate 10% or less
of the principal amount of the Debt Securities of such series Outstanding at such time, such report to be transmitted within 90 days after such time. 
 (c) Reports pursuant to this Section 7.03 shall be transmitted by mail: 
 (1) to all Holders of Registered Securities, as the names and addresses of such Holders of Registered Securities appear in the Security Register; and 

(2) except in the cases of reports pursuant to subsection (b) of this Section 7.03, to each Holder of a Debt
Security of any series whose name and address appear in the information preserved at the time by the Trustee in accordance with Section 7.02(a). 
 (d) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Debt Securities of such series are listed, with the
Commission and also with the Company. The Company will notify the Trustee when any series of Debt Securities are listed on any stock exchange. 
 Section 7.04. Reports by Company. 
 Unless otherwise specified
with respect to a particular series of Debt Securities pursuant to Section 3.01, the Company will: 
 (1)
file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the
Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended. Notwithstanding
that the Company may not be required to remain subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended or otherwise report on an annual and quarterly basis on forms provided for such
annual and quarterly reporting pursuant to rules and regulations promulgated by the Commission, the Company shall continue to file with the Commission and provide the Trustee and the Holders of each series Debt Securities with, without cost to each
Holder, (a) within 90 days after the end of each fiscal year, annual reports on Form 10-K (or any successor or comparable form) 

  
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containing the information required (other than pursuant to Item 9 of such report) to be contained therein (or required in such successor or comparable form); (b) within 45 days after
the end of each of the first three fiscal quarters of each fiscal year, reports on Form 10-Q (or any successor or comparable form); and (c) promptly from time to time after the occurrence of an event required to be therein reported, such other
reports on Form 8-K (or any successor or comparable form) containing the information required (other than pursuant to Item 9 of such report) to be contained therein (or required in any successor or comparable form); provided,
however, that the Company shall not be obligated to file such reports with the Commission if the Commission does not permit such filings. The Company will in all cases, without cost to each recipient, provide copies of such information to the
Holders of the Debt Securities of each series and, if they are not permitted to file such reports with the Commission, shall make available information to prospective purchasers and to securities analysts and broker-dealers upon their request;

 (2) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to
time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

 (3) transmit to all Holders of Debt Securities, in the manner and to the extent provided in Section 7.03,
within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and (2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission. 
 ARTICLE EIGHT 

CONCERNING THE HOLDERS 
 Section 8.01. Acts of Holders. 
 Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person
or by an agent or proxy duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required,
to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Whenever in this Indenture it is
provided that the Holders of a specified percentage in aggregate principal amount of the Outstanding Debt Securities of any series may take any Act, the fact that the Holders of such specified percentage have joined therein may be evidenced
(a) by the instrument or instruments executed by Holders in person or by agent or proxy appointed in writing, or (b) by the record of Holders voting in favor thereof at any meeting of such Holders duly called and held in accordance with
the provisions of Article Nine, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Holders. 

  
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 Section 8.02. Proof of Ownership; Proof of Execution of Instruments by
Holder. 
 The ownership of Registered Securities of any series shall be proved by the Security Register for such series or
by a certificate of the Security Registrar for such series. 
 Subject to the provisions of Sections 6.01, 6.03 and 9.05, proof
of the execution of any instrument by a Holder or such Holder’s agent shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the
Trustee. 
 The record of any Holders’ meeting shall be proved in the manner provided in Section 9.06. 

The Trustee may in any instance require further proof with respect to any of the matters referred to in this Section so long as the
request is a reasonable one. 
 Section 8.03. Persons Deemed Owners. 

The Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name any Registered Security is
registered as the owner of such Registered Security for the purpose of receiving payment of the principal of (and premium, if any) and (subject to Section 3.07) interest, if any, on such Registered Security and for all other purposes
whatsoever, whether or not such Registered Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All payments made to any Holder, or upon his order, shall
be valid, and, to the extent of the sum or sums paid, effectual to satisfy and discharge the liability for moneys payable upon such Debt Security. 
 Section 8.04. Revocation of Consents; Future Holders Bound. 
 At
any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any Act by the Holders of the percentage in aggregate principal amount of the Outstanding Debt Securities specified in this Indenture
in connection with such Act, any Holder of a Debt Security the number, letter or other distinguishing symbol of which is shown by the evidence to be included in the Debt Securities the Holders of which have consented to such Act may, by filing
written notice with the Trustee at the Corporate Trust Office and upon proof of ownership as provided in Section 8.02, revoke such Act so far as it concerns such Debt Security. Except as aforesaid, any such Act taken by the Holder of any Debt
Security shall be conclusive and binding upon such Holder and, subject to the provisions of Section 5.08, upon all future Holders of such Debt Security and of any Debt Securities issued on transfer or in lieu thereof or in exchange or
substitution therefor, irrespective of whether or not any notation in regard thereto is made upon such Debt Security or such other Debt Securities. 

  
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 ARTICLE NINE 
 HOLDERS’ MEETINGS 
 Section 9.01. Purposes of Meetings.

 A meeting of Holders of any or all series may be called at any time and from time to time pursuant to the provisions of this
Article Nine for any of the following purposes: 
 (1) to give any notice to the Company or to the Trustee for
such series, or to give any directions to the Trustee for such series, or to consent to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by Holders pursuant to any of the provisions of
Article Five; 
 (2) to remove the Trustee for such series and appoint a successor Trustee pursuant to the
provisions of Article Six; 
 (3) to consent to the execution of an indenture or indentures supplemental hereto
pursuant to the provisions of Section 11.02; or 
 (4) to take any other action authorized to be taken by or
on behalf of the Holders of any specified aggregate principal amount of the Outstanding Debt Securities of any one or more or all series, as the case may be, under any other provision of this Indenture or under applicable law. 

Section 9.02. Call of Meetings by Trustee. 
 The Trustee for any series may at any time call a meeting of Holders of such series to take any action specified in Section 9.01, to be held at such time or times and at such place or places as the
Trustee for such series shall determine. Notice of every meeting of the Holders of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given to Holders of
such series in the manner and to the extent provided in Section 1.05. Such notice shall be given not less than 10 days nor more than 90 days prior to the date fixed for the meeting. 

Section 9.03. Call of Meetings by Company or Holders. 

In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in aggregate principal amount of the
Outstanding Debt Securities of a series or of all series, as the case may be, shall have requested the Trustee for such series to call a 

  
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meeting of Holders of any or all such series by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have given the notice
of such meeting within 10 days after the receipt of such request, then the Company or such Holders may determine the time or times and the place or places for such meetings and may call such meetings to take any action authorized in
Section 9.01, by giving notice thereof as provided in Section 9.02. 
 Section 9.04. Qualifications for
Voting. 
 To be entitled to vote at any meeting of Holders a Person shall be (a) a Holder of a Debt Security of the
series with respect to which such meeting is being held or (b) a Person appointed by an instrument in writing as agent or proxy by such Holder. The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be
the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee for the series with respect to which such meeting is being held and its counsel and any representatives of the Company and its counsel. 

Section 9.05. Regulations. 
 Notwithstanding any other provisions of this Indenture, the Trustee for any series may make such reasonable regulations as it may deem advisable for any meeting of Holders of such series, in regard to
proof of the holding of Debt Securities of such series and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to
vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 
 The Trustee shall, by an
instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of such series as provided in Section 9.03, in which case the Company or the Holders calling the meeting,
as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by a majority vote of the meeting. 

Subject to the provisos in the definition of “Outstanding,” at any meeting each Holder of a Debt Security of the series with
respect to which such meeting is being held or proxy therefor shall be entitled to one vote for each $1,000 principal amount (or such other amount as shall be specified as contemplated by Section 3.01) of Debt Securities of such series held or
represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debt Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of
the meeting shall have no right to vote other than by virtue of Outstanding Debt Securities of such series held by him or instruments in writing duly designating him as the person to vote on behalf of Holders of Debt Securities of such series. Any
meeting of Holders with respect to which a meeting was duly called pursuant to the provisions of Section 9.02 or 9.03 may be adjourned from time to time by a majority of such Holders present and the meeting may be held as so adjourned without
further notice. 

  
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 Section 9.06. Voting. 

The vote upon any resolution submitted to any meeting of Holders with respect to which such meeting is being held shall be by written
ballots on which shall be subscribed the signatures of such Holders or of their representatives by proxy and the serial number or numbers of the Debt Securities held or represented by them. The permanent chairman of the meeting shall appoint two
inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in
duplicate of the proceedings of each meeting of Holders shall be taken and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having
knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was transmitted as provided in Section 9.02. The record shall show the serial numbers of the Debt Securities voting in favor of or against any
resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee.

 Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

Section 9.07. No Delay of Rights by Meeting. 
 Nothing contained in this Article Nine shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders or any rights expressly or impliedly conferred hereunder to make
such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to any Holder under any of the provisions of this Indenture or of the Debt Securities of any series. 

ARTICLE TEN 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 10.01. Company May Consolidate, etc., Only on Certain Terms. 
 The Company shall not consolidate with or merge with or into or wind up into (whether or not the Company is the surviving corporation) or sell, assign, convey, transfer or lease its properties and assets
substantially as an entirety to any Person, unless: 

  
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 (1) the corporation formed by such consolidation or into which the Company
is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety (the “successor corporation”) shall be a corporation organized and existing under the
laws of the United States or any State or territory thereof or the District of Columbia and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual
payment of the principal of (and premium, if any) and interest on all the Debt Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 

(2) immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of
time, or both, would become an Event of Default, shall have happened and be continuing; 
 (3) 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 
 (4) such other conditions as may
be specified under Section 3.01 with respect to any series of Debt Securities. 
 Section 10.02. Successor
Corporation Substituted. 
 Upon any consolidation with or merger into any other corporation, or any conveyance, transfer or
lease of the properties and assets of the Company substantially as an entirety in accordance with Section 10.01, the successor corporation formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or
lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor corporation had been named as the Company herein. 

ARTICLE ELEVEN 

SUPPLEMENTAL INDENTURES 
 Section 11.01. Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to the Trustee, for any of the following purposes: 

  
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 (1) to evidence the succession of another corporation to the rights of the
Company and the assumption by such successor of the covenants of the Company contained herein and in the Debt Securities; or 
 (2) to add to the covenants of the Company, for the benefit of the Holders of all or any series of Debt Securities (and if such covenants are to be for the benefit of less than all series, stating that
such covenants are expressly being included solely for the benefit of such series), or to surrender any right or power herein conferred upon the Company; or 
 (3) to add any additional Events of Default (and if such Events of Default are to be applicable to less than all series, stating that such Events of Default are expressly being included solely to be
applicable to such series); or 
 (4) to change or eliminate any of the provisions of this Indenture, provided
that any such change or elimination shall become effective only when there is no Outstanding Debt Security of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision and as to which
such supplemental indenture would apply; or 
 (5) to secure the Debt Securities or to provide that any of the
Company’s obligations under any series of the Debt Securities shall be guaranteed and the terms and conditions for the release or substitution of such security or guarantee; or 

(6) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the
defeasance and discharge of any series of Debt Securities pursuant to Article Four or Fifteen, provided that any such action shall not adversely affect the interests of the Holders of Debt Securities of such series or any other series of Debt
Securities in any material respect; or 
 (7) to establish the form or terms of Debt Securities of any series as
permitted by Sections 2.01 and 3.01; or 
 (8) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to one or more series of Debt Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one Trustee, pursuant to the requirements of Section 6.11; or 
 (9) to cure any ambiguity, to
correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, to eliminate any conflict between the terms hereof and the Trust Indenture Act or to make any other provisions with respect to matters
or questions arising under this Indenture which shall not be inconsistent with any provision of this Indenture; provided such other provisions shall not adversely affect the interests of the Holders of Outstanding Debt Securities of any
series created prior to the execution of such supplemental indenture in any material respect. 

  
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 Section 11.02. Supplemental Indentures With Consent of Holders. 

With the written consent of the Holders of not less than a majority in principal amount of the Outstanding Debt Securities of each series
affected by such supplemental indenture voting separately, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders under this Indenture of such Debt Securities; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Debt Security of each such series affected thereby, 
 (1) conflict with the required provisions of the Trust Indenture Act; 
 (2) except as specifically provided with respect to any series of Debt Securities pursuant to Section 3.01, (a) change the Stated Maturity of the principal of, or installment of interest, if
any, on, any Debt Security, or reduce the principal amount thereof or the interest thereon or any premium payable upon redemption thereof (provided that a requirement to offer to repurchase Debt Securities shall not be deemed a redemption for this
purpose), or change the Currency or Currencies in which the principal of (and premium, if any) or interest on such Debt Security is denominated or payable, or reduce the amount of the principal of a Discount Security that would be due and payable
upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or reduce the amount of, or postpone the date fixed for, any payment under any sinking fund or analogous provisions for any Debt Security, or impair the right to
institute suit for the enforcement of any payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or adversely affect the right to convert any Debt Security into shares of Common Stock of the
Company as may be provided pursuant to Section 3.01; or 
 (3) reduce the percentage in principal amount of
the Outstanding Debt Securities of any series, the consent of whose Holders is required for any supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences provided for in this Indenture; or 
 (4) modify any of the provisions
of this Section, Section 5.13 or Section 12.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Debt
Security of each series affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this
Section and Section 12.06, or the deletion of this proviso, in accordance with the requirements of Sections 6.11 and 11.01(6). 

  
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 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. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture with respect to one or more particular series of Debt Securities or which modifies the rights of the
Holders of Debt Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Debt Securities of any other series. 

Section 11.03. Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture
is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise in
a material way. 
 Section 11.04. Effect of Supplemental Indentures. 

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

Section 11.05. Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in
effect. 
 Section 11.06. Reference in Debt Securities to Supplemental Indentures. 

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

  
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 Section 11.07. Notice of Supplemental Indenture. 

Promptly after the execution by the Company and the appropriate Trustee of any supplemental indenture pursuant to Section 11.02, the
Company shall transmit, in the manner and to the extent provided in Section 1.05, to all Holders of any series of the Debt Securities affected thereby, a notice setting forth in general terms the substance of such supplemental indenture.

 ARTICLE TWELVE 
 COVENANTS 
 Section 12.01. Payment of Principal, Premium and
Interest. 
 The Company, for the benefit of each series of Debt Securities, will duly and punctually pay or cause to be
paid the principal of, and premium, if any, and interest on, each of the Debt Securities at the place, at the respective times and in the manner provided herein. Each installment of interest on the Debt Securities may at the Company’s option be
paid by mailing checks for such interest payable to the Person entitled thereto to the address of such Person as it appears on the Security Register. 
 Section 12.02. Officer’s Certificate as to Default. 
 Unless
otherwise specifically provided for with respect to any series of Debt Securities under Section 3.01, the Company will deliver to the Trustee, on or before a date not more than four months after the end of each fiscal year of the Company (which
on the date hereof is the calendar year) ending after the date hereof, a certificate of the principal executive officer, principal financial officer or principal accounting officer of the Company stating whether or not to the best knowledge of the
signer thereof the Company is in compliance with all covenants and conditions under this Indenture, and, if the Company shall be in default, specifying all such defaults and the nature thereof of which such signer may have knowledge. For purposes of
this Section, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture. 

  
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 Section 12.03. Maintenance of Office or Agency. 

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

The Company may also from time to time designate different or additional offices or agencies to be maintained for such purposes (in or
outside of such Place of Payment), and may from time to time rescind any such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations described in the preceding
paragraph. The Company will give prompt written notice to the Trustee of any such additional designation or rescission of designation and any change in the location of any such different or additional office or agency. 

Section 12.04. Money for Debt Securities; Payments To Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Debt Securities, it will, on or before each
due date of the principal of (and premium, if any) or interest on any of the Debt Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. 

Whenever the Company shall have one or more Paying Agents with respect to any series of Debt Securities, it will, by or on each due date
of the principal (and premium, if any) or interest on any Debt Securities of such series, deposit with any such Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for
the benefit of the Persons entitled thereto, and (unless any such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent with respect to any series of Debt Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (1) hold all sums
held by it for the payment of the principal of (and premium, if any) or interest on Debt Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as
herein provided; 

  
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 (2) give the Trustee notice of any default by the Company (or any other
obligor upon the Debt Securities of such series) in the making of any payment of principal (and premium, if any) or interest on the Debt Securities of such series; and 

(3) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the
Trustee all sums so held in trust by such Paying Agent. 
 The Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the
same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the
principal of (and premium, if any) or interest on any Debt Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company upon Company
Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Debt Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be transmitted in the manner and to the extent provided by Section 1.05, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the
date of such notification, any unclaimed balance of such money then remaining will be repaid to the Company. 

Section 12.05. Corporate Existence. 
 Subject to Article Ten, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory) and franchises;
provided, however, that the Company shall not be required to preserve any such right or franchise if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company.

  
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 Section 12.06. Waiver of Certain Covenants. 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in Section 12.05 (and, if
so specified pursuant to Section 3.01, any other covenant not set forth herein and specified pursuant to Section 3.01 to be applicable to the Securities of any series, except as otherwise provided pursuant to Section 3.01) with
respect to the Debt Securities of any series if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Debt Securities of such series shall, by Act of such Holders, either waive such compliance
in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent expressly so waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE THIRTEEN 
 REDEMPTION OF DEBT SECURITIES 

Section 13.01. Applicability of Article. 
 Debt Securities of any series which are redeemable before their Maturity shall be redeemable in accordance with their terms and (except as otherwise specified pursuant to Section 3.01 for Debt
Securities of any series) in accordance with this Article. 
 Section 13.02. Election to Redeem; Notice to
Trustee. 
 The election of the Company to redeem (or, in the case of Discount Securities, to permit the Holders to elect to
surrender for redemption) any Debt Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the Company of less than all of the Debt Securities of any series pursuant to Section 13.03, the Company shall,
at least 30 days before the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Debt Securities of such series to be redeemed.
In the case of any redemption of Debt Securities prior to the expiration of any restriction on such redemption provided in the terms of such Debt Securities or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’
Certificate evidencing compliance with such restrictions. 
 Section 13.03. Selection by Trustee of Debt Securities
to Be Redeemed. 
 Except in the case of a redemption in whole of the Registered Securities of such series, if less than all
the Debt Securities of any series are to be redeemed at the election of the Company, the particular Debt Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Debt
Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and 

  
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appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Debt Securities of such series or any integral multiple thereof)
of the principal amount of Debt Securities of such series in a denomination larger than the minimum authorized denomination for Debt Securities of such series pursuant to Section 3.02 in the Currency in which the Debt Securities of such series
are denominated. The portions of the principal amount of Debt Securities so selected for partial redemption shall be equal to the minimum authorized denominations for Debt Securities of such series pursuant to Section 3.02 in the Currency in
which the Debt Securities of such series are denominated or any integral multiple thereof, except as otherwise set forth in the applicable form of Debt Securities. In any case when more than one Registered Security of such series is registered in
the same name, the Trustee in its discretion may treat the aggregate principal amount so registered as if it were represented by one Registered Security of such series. 
 The Trustee shall promptly notify the Company in writing of the Debt Securities selected for redemption and, in the case of any Debt Securities selected for partial redemption, the principal amount
thereof to be redeemed. 
 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to
the redemption of Debt Securities shall relate, in the case of any Debt Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Debt security which has been or is to be redeemed. 

Section 13.04. Notice of Redemption. 
 Notice of redemption shall be given by the Company, or at the Company’s request, by the Trustee in the name and at the expense of the Company, not less than 30 days and not more than 60 days prior to
the Redemption Date to the Holders of Debt Securities of any series to be redeemed in whole or in part pursuant to this Article Thirteen, in the manner provided in Section 1.05. Any notice so given shall be conclusively presumed to have been
duly given, whether or not the Holder receives such notice. Failure to give such notice, or any defect in such notice to the Holder of any Debt Security of a series designated for redemption, in whole or in part, shall not affect the sufficiency of
any notice of redemption with respect to the Holder of any other Debt Security of such series. 
 All notices of
redemption shall state: 
 (1) the Redemption Date, 

(2) the Redemption Price, 
 (3) that Debt Securities of such series are being redeemed by the Company pursuant to provisions contained in this Indenture or the terms of the Debt Securities of such series or a supplemental indenture
establishing such series, if such be the case, together with a brief statement of the facts permitting such redemption, 

  
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 (4) if less than all Outstanding Debt Securities of any series are to be
redeemed, the identification (and, in the case of partial redemption, the principal amounts) of the particular Debt Securities to be redeemed, 
 (5) that on the Redemption Date the Redemption Price will become due and payable upon each such Debt Security to be redeemed, and that interest thereon, if any, shall cease to accrue on and after said
date, 
 (6) the Place or Places of Payment where such Debt Securities are to be surrendered for payment of the
Redemption Price, and 
 (7) that the redemption is for a sinking fund, if such is the case. 

Section 13.05. Deposit of Redemption Price. 
 On or prior to the Redemption Date for any Debt Securities, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in
trust as provided in Section 12.04) an amount of money in the Currency or Currencies in which such Debt Securities are denominated (except as provided pursuant to Section 3.01) sufficient to pay the Redemption Price of such Debt Securities
or any portions thereof which are to be redeemed on that date. 
 Section 13.06. Debt Securities Payable on
Redemption Date. 
 Notice of redemption having been given as aforesaid, any Debt Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price in the Currency in which the Debt Securities of such series are payable (except as otherwise specified pursuant to Section 3.01 or 3.10), and from and after such date (unless the
Company shall default in the payment of the Redemption Price) such Debt Securities shall cease to bear interest. Upon surrender of any such Debt Security for redemption in accordance with said notice, such Debt Security shall be paid by the Company
at the Redemption Price; provided, however, that, unless otherwise specified as contemplated by Section 3.01, installments of interest on Registered Securities which have a Stated Maturity on or prior to the Redemption Date for
such Debt Securities shall be payable according to the terms of such Debt Securities and the provisions of Section 3.07. 

If any Debt Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if
any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Debt Security. 

  
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 Section 13.07. Debt Securities Redeemed in Part. 

Any Debt Security which is to be redeemed only in part shall be surrendered at the Corporate Trust Office or such other office or agency
of the Company as is specified pursuant to Section 3.01 with, if the Company, the Security Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company, the Security Registrar
and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing, and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security without service charge, a new Debt
Security or Debt Securities of the same series, of like tenor and form, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Debt
Security so surrendered. In the case of a Debt Security providing appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of delivering a new Debt Security or Debt Securities as aforesaid, may make a notation
on such Debt Security of the payment of the redeemed portion thereof. 
 ARTICLE FOURTEEN 

SINKING FUNDS 

Section 14.01. Applicability of Article. 
 The provisions of this Article shall be applicable to any sinking fund for the retirement of Debt Securities of a series except as otherwise specified pursuant to Section 3.01 for Debt Securities of
such series. 
 The minimum amount of any sinking fund payment provided for by the terms of Debt Securities of any series is
herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Debt Securities of any series is herein referred to as an “optional sinking fund payment.” If
provided for by the terms of Debt Securities of any series, the amount of any cash sinking fund payment may be subject to reduction as provided in Section 14.02. Each sinking fund payment shall be applied to the redemption of Debt Securities of
any series as provided for by the terms of Debt Securities of such series. 
 Section 14.02. Satisfaction of
Mandatory Sinking Fund Payments with Debt Securities. 
 In lieu of making all or any part of a mandatory sinking fund
payment with respect to any Debt Securities of a series in cash, the Company may at its option, at any time no more than sixteen months and no less than 45 days prior to the date on which such sinking fund payment is due, deliver to the Trustee Debt
Securities of such series theretofore purchased or otherwise acquired by the Company, except Debt Securities of such series which have been redeemed through the application of mandatory sinking fund payments pursuant to the terms of the Debt
Securities of such series, accompanied by a Company Order instructing the Trustee to credit such obligations and stating that the Debt Securities of such series were originally issued 

  
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by the Company by way of bona fide sale or other negotiation for value, provided that such Debt Securities shall not have been previously so credited. Such Debt Securities shall be received and
credited for such purpose by the Trustee at the Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly. 

Section 14.03. Redemption of Debt Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities (unless a shorter period shall be
satisfactory to the Trustee), the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing 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 in the Currency or Currencies in which the Debt Securities of such series are denominated (except as provided pursuant to Section 3.01) and the portion thereof, if any, which is to be satisfied by
delivering and crediting Debt Securities of such series pursuant to Section 14.02 and whether the Company intends to exercise its rights to make a permitted optional sinking fund payment with respect to such series. Such certificate shall be
irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments therein referred to, if any, on or before the next succeeding sinking fund payment date. In the case of the failure of the Company to deliver such
certificate, the sinking fund payment due on the next succeeding sinking fund payment date for such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of the Debt Securities of such series subject to a
mandatory sinking fund payment without the right to deliver or credit Debt Securities as provided in Section 14.02 and without the right to make any optional sinking fund payment with respect to such series at such time. 

Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused balance of any preceding sinking fund payments
made with respect to the Debt Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on which such payment is made (or, if such
payment is made before a sinking fund payment date, on the sinking fund payment date immediately following the date of such payment) to the redemption of Debt Securities of such series at the Redemption Price specified in such Debt Securities with
respect to the sinking fund. Any sinking fund moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying Agent) to the redemption of Debt Securities shall be added to the next sinking fund payment
received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 12.04) for such series and, together with such payment (or such amount so segregated) shall be applied in
accordance with the provisions of this Section. Any and all sinking fund moneys with respect to the Debt Securities of any particular series held by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as
provided in Section 12.04) on the last sinking fund payment date with respect to Debt Securities of such series and not held for the payment or redemption of particular Debt Securities of such series shall be applied by the Trustee (or by the
Company if the Company is acting as its own Paying Agent), together with other moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of the principal of the Debt Securities of such series at Maturity.

  
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 The Trustee shall select or cause to be selected the Debt Securities to be redeemed upon
such sinking fund payment date in the manner specified in Section 13.03 and the Company shall cause notice of the redemption thereof to be given in the manner provided in Section 13.04. Such notice having been duly given, the redemption of
such Debt Securities shall be made upon the terms and in the manner stated in Section 13.06. 
 On or before each sinking
fund payment date, the Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, the Company shall segregate and hold in trust as provided in Section 12.04) in cash a sum, in the Currency or Currencies in which
Debt Securities of such series are denominated (except as provided pursuant to Sections 3.01 or 3.10), equal to the principal and any interest accrued to the Redemption Date for Debt Securities or portions thereof to be redeemed on such sinking fund
payment date pursuant to this Section. 
 Neither the Trustee nor the Company shall redeem any Debt Securities of a series with
sinking fund moneys or mail any notice of redemption of Debt Securities of such series by operation of the sinking fund for such series during the continuance of a default in payment of interest, if any, on any Debt Securities of such series or of
any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Debt Securities of such series, except that if the notice of redemption shall have been provided in accordance with the provisions
hereof, the Trustee (or the Company, if the Company is then acting as its own Paying Agent) shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the Trustee (or segregated by the Company) for that purpose in
accordance with the terms of this Article. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such default or Event of Default shall occur and any moneys thereafter paid into such sinking fund shall, during the
continuance of such default or Event of Default, be held as security for the payment of the Debt Securities of such series; provided, however, that in case such default or Event of Default shall have been cured or waived as provided
herein, such moneys shall thereafter be applied on or prior to the next sinking fund payment date for the Debt Securities of such series on which such moneys may be applied pursuant to the provisions of this Section. 

ARTICLE FIFTEEN 

DEFEASANCE 

Section 15.01. Applicability of Article. 
 If, pursuant to Section 3.01, provision is made for the defeasance of Debt Securities of a series, and if the Debt Securities of such series are Registered Securities and denominated and payable only
in Dollars (except as provided pursuant to Section 3.01) then the provisions of this Article shall be applicable except as otherwise specified pursuant to Section 3.01 for Debt Securities of such series. Defeasance provisions, if any, for Debt
Securities denominated in a Foreign Currency or Currencies may be specified pursuant to Section 3.01. 

  
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 Section 15.02. Defeasance Upon Deposit of Moneys or U.S. Government
Obligations. 
 At the Company’s option, either (a) the Company shall be deemed to have been Discharged (as
defined below) from its obligations with respect to Debt Securities of any series (“legal defeasance option”) or (b) the Company shall cease to be under any obligation to comply with any term, provision or condition set forth in
Section 10.01 with respect to Debt Securities of any series (and, if so specified pursuant to Section 3.01, any other obligation of the Company or restrictive covenant added for the benefit of such series pursuant to Section 3.01)
(“covenant defeasance option”) at any time after the applicable conditions set forth below have been satisfied: 
 (1) the Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the
Holders of the Debt Securities of such series (i) money in an amount, or (ii) U.S. Government Obligations (as defined below) which through the payment of interest and principal 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 (iii) a combination of (i) and (ii), sufficient, in the opinion (with respect to (i) and (ii)) of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge each installment of principal (including any mandatory sinking fund payments) of and premium, if any, and interest on, the Outstanding
Debt Securities of such series on the dates such installments of interest or principal and premium are due; 

(2) such deposit shall not cause the Trustee with respect to the Debt Securities of that series to have a conflicting
interest as defined in Section 6.08 and for purposes of the Trust Indenture Act with respect to the Debt Securities of any series; 
 (3) such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound;

 (4) if the Debt Securities of such series are then listed on any national securities exchange, the Company
shall have delivered to the Trustee an Opinion of Counsel or a letter or other document from such exchange to the effect that the Company’s exercise of its option under this Section would not cause such Debt Securities to be delisted;

 (5) no Event of Default or event (including such deposit) which, with notice or lapse of time or both, would
become an Event of Default with respect to the Debt Securities of such series shall have occurred and be continuing on the date of such deposit and, with respect to the legal defeasance option only, no Event of Default under Section 5.01(7) or
Section 5.01(8) or event which with the giving of notice or lapse of time, or both, would become an Event of Default under Section 5.01(7) or Section 5.01(8) shall have occurred and be continuing on the 91st day after such date; and

  
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 (6) the Company shall have delivered to the Trustee an Opinion of Counsel or
a ruling from the Internal Revenue Service to the effect that the Holders of the Debt Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance or Discharge. 

Notwithstanding the foregoing, if the Company exercises its covenant defeasance option and an Event of Default under Section 5.01(7)
or Section 5.01(8) or event which with the giving of notice or lapse of time, or both, would become an Event of Default under Section 5.01(7) or Section 5.01(8) shall have occurred and be continuing on the 91st day after the date of
such deposit, the obligations of the Company referred to under the definition of covenant defeasance option with respect to such Debt Securities shall be reinstated. 
 “Discharged” means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by, and obligations under, the Debt Securities of such series and to have
satisfied all the obligations under this Indenture relating to the Debt Securities of such series (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except (A) the rights of Holders of
Debt Securities of such series to receive, from the trust fund described in clause (1) above, payment of the principal of (and premium, if any) and interest on such Debt Securities when such payments are due, (B) the Company’s
obligations with respect to the Debt Securities of such series under Sections 3.04, 3.05, 3.06, 12.03 and 15.03 and (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder. 

“U.S. Government Obligations” means securities that are (i) direct obligations of the United States for the payment of
which its full faith and credit is pledged, or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States, which, in either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as
custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder of a depository receipt; 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 depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the
specific payment of interest on or principal of the U.S. Government Obligation evidenced by such depository receipt. 

  
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 Section 15.03. Deposited Moneys and U.S. Government, Obligations to Be Held in
Trust. 
 All moneys and U.S. Government Obligations deposited with the Trustee pursuant to Section 15.02 in respect of
Debt Securities of a series shall be held in trust and applied by it, in accordance with the provisions of such Debt Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Holders of such Debt Securities, of all sums due and to become due thereon for principal (and premium, if any) and interest, if any, but such money need not be segregated from other funds except to
the extent required by law. 
 Section 15.04. Repayment to Company. 

The Trustee and any Paying Agent shall promptly pay or return to the Company upon Company Request any moneys or U.S. Government
Obligations held by them at any time that are not required for the payment of the principal of (and premium, if any) and interest on the Debt Securities of any series for which money or U.S. Government Obligations have been deposited pursuant to
Section 15.02. 
 The provisions of the last paragraph of Section 12.04 shall apply to any money held by the Trustee
or any Paying Agent under this Article that remains unclaimed for two years after the Maturity of any series of Debt Securities for which money or U.S. Government Obligations have been deposited pursuant to Section 15.02. 

ARTICLE SIXTEEN 

CONVERSION 

Section 16.01. Applicability; Conversion Privilege. 

Except as otherwise specified pursuant to Section 3.01 for Debt Securities of any series, the provisions of this Article Sixteen
shall be applicable to any Debt Securities that are convertible into Common Stock. If so provided pursuant to Section 3.01 with respect to the Debt Securities of any series, the Holder of a Debt Security of such series shall have the right, at
such Holder’s option, to convert, in accordance with the terms of such series of Debt Securities and this Article Sixteen, all or any part (in a denomination of, unless otherwise specified pursuant to Section 3.01 with respect to Debt
Securities of such series (1) $1,000 in principal amount or any integral multiple thereof or (2) in the case of Debt Securities denominated in a Foreign Currency, in a denomination of $1,000 in principal amount or any integral multiple
thereof based on the Market Exchange Rate) of such Debt Security into shares of Common Stock or, as to any Debt Securities called for redemption, at any time prior to the time and date fixed for such redemption (unless the Company shall default in
the payment of the Redemption Price, in which case such right shall not terminate at such time and date). 

  
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 Section 16.02. Conversion Procedure; Conversion Price; Fractional Shares.

 (a) Each Debt Security to which this Article is applicable shall be convertible at the office of the Conversion Agent, and at
such other place or places, if any, specified in pursuant to Section 3.01 with respect to the Debt Securities of such series, into fully paid and nonassessable shares (calculated to the nearest 1/100th of a share) of Common Stock. The Debt
Securities will be converted into shares of Common Stock at the Conversion Price therefor. No payment or adjustment shall be made in respect of dividends on the Common Stock or accrued interest on a converted Debt Security except as described in
Section 16.09. The Company may, but shall not be required, in connection with any conversion of Debt Securities, to issue a fraction of a share of Common Stock and, if the Company shall determine not to issue any such fraction, the Company
shall, subject to Section 16.03(4), make a cash payment (calculated to the nearest cent) equal to such fraction multiplied by the Closing Price of the Common Stock on the last Trading Day prior to the date of conversion. 

(b) Before any Holder of a Debt Security shall be entitled to convert the same into Common Stock, such Holder shall surrender such Debt
Security duly endorsed to the Company or in blank, at the office of the Conversion Agent or at such other place or places, if any, specified pursuant to Section 3.01, and shall give written notice to the Company at said office or place that he
elects to convert the same and shall state in writing therein the principal amount of Debt Securities to be converted and the name or names (with addresses) in which he wishes the certificate or certificates for Common Stock to be issued; provided,
however, that no Debt Security or portion thereof shall be accepted for conversion unless the principal amount of such Debt Security or such portion, when added to the principal amount of all other Debt Securities or portions thereof then being
surrendered by the Holder thereof for conversion, exceeds the then effective Conversion Price with respect thereto. If more than one Debt Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of
Common Stock which shall be deliverable upon conversion shall be computed on the basis of the aggregate principal amount of the Debt Securities (or specified portions thereof to the extent permitted thereby) so surrendered. Subject to the next
succeeding sentence, the Company will, as soon as practicable thereafter, issue and deliver at said office or place to such Holder of a Debt Security, or to his nominee or nominees, certificates for the number of full shares of Common Stock to which
he shall be entitled as aforesaid, together, subject to the last sentence of paragraph (a) above, with cash in lieu of any fraction of a share to which he would otherwise be entitled. The Company shall not be required to deliver certificates
for shares of Common Stock while the stock transfer books for such stock or the Security Register are duly closed for any purpose, but certificates for shares of Common Stock shall be issued and delivered as soon as practicable after the opening of
such books or Security Register. A Debt Security shall be deemed to have been converted as of the close of business on the date of the surrender of such Debt Security for conversion as provided above, and the Person or Persons entitled to receive
the Common Stock issuable upon such conversion shall be treated for all purposes as the record Holder or Holders of such Common Stock as of the close of business on such date. In case any Debt Security shall be surrendered for partial conversion,
the Company shall execute and the Trustee shall authenticate and deliver to or upon the written order of the Holder of the Debt Securities so surrendered, without charge to such Holder (subject to the provisions of Section 16.08), a new Debt
Security or Securities in authorized denominations in an aggregate principal amount equal to the unconverted portion of the surrendered Debt Security. 

  
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 Section 16.03. Adjustment of Conversion Price for Common Stock. 

The Conversion Price with respect to any Debt Security which is convertible into Common Stock shall be adjusted from time to time as
follows: 
 (1) In case the Company shall, at any time or from time to time while any of such Debt Securities are
outstanding, (i) pay a dividend in shares of its Common Stock to holders of Common Stock, (ii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, (iii) subdivide its outstanding shares of
Common Stock into a greater number of shares of Common Stock or (iv) make a distribution in shares of Common Stock to holders of Common Stock, then the Conversion Price in effect immediately before such action shall be adjusted so that the
Holders of such Debt Securities, upon conversion thereof into Common Stock immediately following such event, shall be entitled to receive the kind and amount of shares of capital stock of the Company which they would have owned or been entitled to
receive upon or by reason of such event if such Debt Securities had been converted immediately before the record dated (or, if no record date, the effective date) for such event. An adjustment made pursuant to this Section 16.03(1) shall become
effective retroactively immediately after the record date in the case of a dividend or distribution and shall become effective retroactively immediately after the effective date in the case of a subdivision or combination. For the purposes of this
Section 16.03(1), each Holder of Debt Securities shall be deemed to have failed to exercise any right to elect the kind or amount of securities receivable upon the payment of any such dividend, subdivision, combination or distribution (provided
that if the kind or amount of securities receivable upon such dividend, subdivision, combination or distribution is not the same for each nonelecting share, then the kind and amount of securities or other property receivable upon such dividend,
subdivision, combination or distribution for each nonelecting share shall be deemed to be the kind and amount so receivable per share by a plurality of the nonelecting shares). 

(2) In case the Company shall, at any time or from time to time while any of such Debt Securities are outstanding, issue
rights or warrants to all holders of shares of its Common Stock entitling them (for a period expiring within 45 days after the record date for such issuance) to subscribe for or purchase shares of Common Stock (or securities convertible into shares
of Common Stock) at a price per share less than the Current Market Price of the Common Stock at such record date (treating the price per share of the securities convertible into Common Stock as equal to (x) the sum of (i) the price for a
unit of the security convertible into Common Stock and (ii) any additional consideration initially payable upon the conversion of such security into Common Stock divided by (y) the number of shares of Common Stock initially underlying such
convertible security), the Conversion Price with respect to such Debt Securities shall be adjusted so that it shall equal the price determined by dividing the Conversion Price in effect immediately prior to the date of issuance of such rights or
warrants by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding on the date of issuance of such rights or warrants plus the number of additional shares of

  
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Common Stock offered for subscription or purchase (or into which the convertible securities so offered are initially convertible), and the denominator of which shall be the number of shares of
Common Stock outstanding on the date of issuance of such rights or warrants plus the number of shares of additional shares of Common Stock which the aggregate offering price of the total number of shares of securities so offered for subscription or
purchase (or the aggregate purchase price of the convertible securities so offered plus the aggregate amount of any additional consideration initially payable upon conversion of such securities into Common Stock) would purchase at such Current
Market Price of the Common Stock. Such adjustment shall become effective retroactively immediately after the record date for the determination of stockholders entitled to receive such rights or warrants. 

(3) In the case the Company shall, at any time or from time to time while any of such Debt Securities are outstanding,
distribute to all holders of shares of its Common Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing corporation and the Common Stock is not changed or exchanged) cash,
evidences of its indebtedness, securities or assets (excluding (i) regular periodic cash dividends in amounts, if any, determined from time to time by the Board of Directors, (ii) dividends payable in shares of Common Stock for which
adjustment is made under Section 16.03(1) or (iii) rights or warrants to subscribe for or purchase securities of the Company (excluding those referred to in Section 16.03(2))), then in each such case the Conversion Price with respect
to such Debt Securities determined by dividing the Conversion Price in effect immediately prior to the date of such distribution by a fraction, the numerator of which shall be the Current Market Price of the Common Stock on the record date referred
to below, and the denominator of which shall be such Current Market Price of the Common Stock less the then fair market value (as determined by the Board of Directors of the Company, whose determination shall be conclusive) of the portion of the
cash or assets or evidences of indebtedness or securities so distributed or of such subscription rights or warrants applicable to one share of Common Stock (provided that such denominator shall never be less than 1.0); provided however, that no
adjustment shall be made with respect to any distribution of rights to purchase securities of the Company if a Holder of Debt Securities would otherwise be entitled to receive such rights upon conversion at any time of such Debt Securities into
Common Stock unless such rights are subsequently redeemed by the Company, in which case such redemption shall be treated for purposes of this section as a dividend on the Common Stock. Such adjustment shall become effective retroactively immediately
after the record date for the determination of stockholders entitled to receive such distribution; and in the event that such distribution is not so made, the Conversion Price shall again be adjusted to the Conversion Price which would then be in
effect if such record date had not been fixed. 
 (4) The Company shall be entitled to make such additional
adjustments in the Conversion Price, in addition to those required by subsections 16.03(1), 16.03(2), and 16.03(3), as shall be necessary in order that any dividend or distribution of Common Stock, any subdivision, reclassification or combination of
shares of Common Stock or any issuance of rights or warrants referred to above shall not be taxable to the holders of Common Stock for United States Federal income tax purposes. 

  
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 (5) In any case in which this Section 16.03 shall require that any
adjustment be made effective as of or retroactively immediately following a record date, the Company may elect to defer (but only for five (5) Trading Days following the filing of the statement referred to in Section 16.05) issuing to the
Holder of any Debt Securities converted after such record date the shares of Common Stock and other capital stock of the Company issuable upon such conversion over and above the shares of Common Stock and other capital stock of the Company issuable
upon such conversion on the basis of the Conversion Price prior to adjustment; provided, however, that the Company shall deliver to such Holder a due bill or other appropriate instrument evidencing such Holder’s right to receive such additional
shares upon the occurrence of the event requiring such adjustment. 
 (6) All calculations under this
Section 16.03 shall be made to the nearest cent or one-hundredth of a share of security, with one-half cent and 0.005 of a share, respectively, being rounded upward. Notwithstanding any other provision of this Section 16.03, the Company
shall not be required to make any adjustment of the Conversion Price unless such adjustment would require an increase or decrease of at least 1% of such price. Any lesser adjustment shall be carried forward and shall be made at the time of and
together with the next subsequent adjustment which, together with any adjustment or adjustments so carried forward, shall amount to an increase or decrease of at least 1% in such price. Any adjustments under this Section 16.03 shall be made
successively whenever an event requiring such an adjustment occurs. 
 (7) In the event that at any time, as a
result of an adjustment made pursuant to this Section 16.03, the Holder of any Debt Security thereafter surrendered for conversion shall become entitled to receive any shares of stock of the Company other than shares of Common Stock into which
the Debt Securities originally were convertible, the Conversion Price of such other shares so receivable upon conversion of any such Debt Security shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to Common Stock contained in subparagraphs (1) through (6) of this Section 16.03, and the provisions of Sections 16.01, 16.02 and 16.04 through 16.09 with respect to the Common Stock shall apply
on like or similar terms to any such other shares and the determination of the Board of Directors as to any such adjustment shall be conclusive. 
 (8) No adjustment shall be made pursuant to this Section: (i) if the effect thereof would be to reduce the Conversion Price below the par value (if any) of the Common Stock or (ii) subject to
16.03(5) hereof, with respect to any Debt Security that is converted prior to the time such adjustment otherwise would be made. 
 Section 16.04. Consolidation or Merger of the Company. 
 In case
of either (a) any consolidation or merger to which the Company is a party, other than a merger or consolidation in which the company is the surviving or continuing corporation and which does not result in a reclassification of, or change (other
than a change in 

  
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par value or from par value to no par value or from no par value to par value, as a result of a subdivision or combination) in, outstanding shares of Common Stock or (b) any sale or
conveyance of all or substantially all of the property and assets of the Company to another Person, then each Debt Security then outstanding shall be convertible from and after such merger, consolidation, sale or conveyance of property and assets
into the kind and amount of shares of stock or other securities and property (including cash) receivable upon such consolidation, merger, sale or conveyance by a holder of the number of shares of Common Stock into which such Debt Securities would
have been converted immediately prior to such consolidation, merger, sale or conveyance, subject to adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article Sixteen (and assuming such
holder of Common Stock failed to exercise his rights of election, if any, as to the kind or amount of securities, cash or other property (including cash) receivable upon such consolidation, merger, sale or conveyance (provided that, if the kind or
amount of securities, cash or other property (including cash) receivable upon such consolidation, merger, sale or conveyance is not the same for each nonelecting share, then the kind and amount of securities, cash or other property (including cash)
receivable upon such consolidation, merger, sale or conveyance for each nonelecting share shall be deemed to be the kind and amount so receivable per share by a plurality of the nonelecting shares or securities)). The Company shall not enter into
any of the transactions referred to in clause (a) or (b) of the preceding sentence unless effective provision shall be made so as to give effect to the provisions set forth in this Section 16.04. The provisions of this
Section 16.04 shall apply similarly to successive consolidations, mergers, sales or conveyances. 

Section 16.05. Notice of Adjustment. 
 Whenever an adjustment in the Conversion Price with respect to a series of Debt Securities is required: 
 (1) the Company shall forthwith place on file with the Trustee and any Conversion Agent for such Securities a certificate of the Treasurer of the Company, stating the adjusted Conversion Price determined
as provided herein and setting forth in reasonable detail such facts as shall be necessary to show the reason for and the manner of computing such adjustment, such certificate to be conclusive evidence that the adjustment is correct; and 

(2) a notice stating that the Conversion Price has been adjusted and setting forth the adjusted Conversion Price shall
forthwith be given by the Company, or at the Company’s request, by the Trustee in the name and at the expense of the Company, in the manner provided in Section 1.05. Any notice so given shall be conclusively presumed to have been duly given,
whether or not the Holder receives such notice. 

  
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 Section 16.06. Notice in Certain Events. 

In case: 
 (1) of a consolidation or merger to which the Company is a party and for which approval of any stockholders of the Company is required, or of the sale or conveyance to another Person or entity or group of
Persons or entities acting in concert as a partnership, limited partnership, syndicate or other group (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of all or substantially all of the property and assets of
the Company; or 
 (2) of the voluntary or involuntary dissolution, liquidation or winding up of the Company; or

 (3) of any action triggering an adjustment of the Conversion Price pursuant to this Article Sixteen;

 then, in each case, the Company shall cause to be filed with the Trustee and the Conversion Agent for the applicable Debt Securities, and
shall cause to be given, to the Holders of record of applicable Debt Securities in the manner provided in Section 1.05, at least fifteen (15) days prior to the applicable date hereinafter specified, a notice stating (x) the date on
which a record is to be taken for the purpose of any distribution or grant of rights or warrants triggering an adjustment to the Conversion Price pursuant to this Article Sixteen, or, if a record is not to be taken, the date as of which the holders
of record or Common Stock entitled to such distribution, rights or warrants are to be determined, or (y) the date on which any reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up triggering an
adjustment to the Conversion Price pursuant to this Article Sixteen is expected to become effective, and the date as of which it is expected that holders of Common Stock of record shall be entitled to exchange their Common Stock for securities or
other property deliverable upon such reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up. 
 Failure to give such notice or any defect therein shall not affect the legality or validity of the proceedings described in clause (1), (2), or (3) of this Section. 

Section 16.07. Company to Reserve Stock; Registration; Listing. 

(a) The Company shall at all times reserve and keep available, free from preemptive rights, out of its authorized but unissued shares of
Common Stock, for the purpose of effecting the conversion of the Debt Securities, such number of its duly authorized shares of Common Stock as shall from time to time be sufficient to effect the conversion of all applicable outstanding Debt
Securities into such Common Stock at any time (assuming that, at the time of the computation of such number of shares or securities, all such Debt Securities would be held by a single holder); provided, however, that nothing contained herein shall
preclude the Company from satisfying its obligations in respect of the conversion of the Debt Securities by delivery of purchased shares of Common Stock which are held in the treasury of the Company. The Company shall from time to time, in
accordance with the laws of the State of Delaware, use its best efforts to cause the authorized amount of the Common Stock to be increased if the aggregate of the authorized amount of the Common Stock remaining unissued and the issued shares of such
Common Stock in its treasury (other than any such shares reserved for issuance in any other connection) shall not be sufficient to permit the conversion of all Debt Securities. 

  
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 (b) If any shares of Common Stock which would be issuable upon conversion of Debt Securities
hereunder require registration with or approval of any governmental authority before such shares or securities may be issued upon such conversion, the Company will in good faith and as expeditiously as possible endeavor to cause such shares or
securities to be duly registered or approved, as the case may be. The Company will endeavor to list the shares of Common Stock required to be delivered upon conversion of the Debt Securities prior to such delivery upon the principal national
securities exchange upon which the outstanding Common Stock is listed at the time of such delivery. 

Section 16.08. Taxes on Conversion. 
 The Company shall pay any and all documentary, stamp or similar issue or transfer taxes that may be payable in respect of the issue or delivery of shares of Common Stock on conversion of Debt Securities
pursuant hereto. The Company shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the issue or delivery of shares of Common Stock or the portion, if any, of the Debt Securities which are not
so converted in a name other than that in which the Debt Securities so converted were registered, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Company the amount of such tax or has
established to the satisfaction of the Company that such tax has been paid. 
 Section 16.09. Conversion After
Record Date. 
 If any Debt Securities are surrendered for conversion subsequent to the record date preceding an Interest
Payment Date but on or prior to such Interest Payment Date (except Debt Securities called for redemption on a Redemption Date between such record date and Interest Payment Date), the Holder of such Debt Securities at the close of business on such
record date shall be entitled to receive the interest payable on such Debt Securities on such Interest Payment Date notwithstanding the conversion thereof. Debt Securities surrendered for conversion during the period from the close of business on
any record date next preceding any Interest Payment Date to the opening of business on such Interest Payment Date to the opening of business on such Interest Payment Date shall (except in the case of Debt Securities which have been called for
redemption on a Redemption Date within such period) be accompanied by payment to the Company and in the Currency acceptable to the Company of an amount equal to the interest payable on such Interest Payment Date on the Debt Securities being
surrendered for conversion. Except as provided in this Section 16.09, no adjustments in respect of payments of interest on Debt Securities surrendered for conversion or any dividends or distributions of interest on the Common Stock issued upon
conversion shall be made upon the conversion of any Debt Securities. 

  
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 Section 16.10. Company Determination Final. 

Any determination that the Company or the Board of Directors must make pursuant to this Article is conclusive. 

Section 16.11. Trustee’s Disclaimer. 
 The Trustee has no duty to determine when an adjustment under this Article should be made, how it should be made or what it should be. The Trustee makes no representation as to the validity or value of
any securities or assets issued upon conversion of Debt Securities. The Trustee shall not be responsible for the Company’s failure to comply with this Article. Each Conversion Agent other than the Company shall have the same protection under
this Section as the Trustee. 

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

			
	GENESEE & WYOMING INC.
		
	By:	 	/s/ John C. Hellmann
		 	 Name  John C. Hellmann

		 	 Title:   Chief Executive Officer

		
	By:	 	/s/ Allison Fergus
		 	 Name  Allison Fergus

		 	 Title:  General Counsel and Secretary

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	/s/ Joshua G. Jones
		 	 Name  Joshua G. Jones

		 	 Title:   Banking Officer

  
 93

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