Document:

Third Amended and Restated SunPower Corporation 2005 Stock Incentive Plan

 Exhibit 4.1 
 THIRD AMENDED AND RESTATED 
 SUNPOWER CORPORATION 2005 STOCK INCENTIVE
PLAN 
 (Adopted by the Board on August 12, 2005, amended by the Board on September 23, 2005, amended by the Board and the
stockholders on October 5, 2005, amended by the Board and the stockholders on May 4, 2006, amended by the Board and the stockholders effective February 12, 2007, amended by the Board and the stockholders effective May 4, 2007,
amended by the Board and the stockholders on May 8, 2008, amended by the Board effective March 12, 2009, and amended by the Board and the shareholders effective November 15, 2011). 

(Reflects 2:1 Reverse Stock Split on November 10, 2005) 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 SECTION 1.
	  	ESTABLISHMENT AND PURPOSE.	  	 	A-1	  
			
	 SECTION 2.
	  	DEFINITIONS.	  	 	A-1	  
	 (a)
	  	“Affiliate”	  	 	A-1	  
	 (b)
	  	“Award”	  	 	A-1	  
	 (c)
	  	“Board of Directors”	  	 	A-1	  
	 (d)
	  	“Change in Control”	  	 	A-1	  
	 (e)
	  	“Code”	  	 	A-2	  
	 (f)
	  	“Committee”	  	 	A-2	  
	 (g)
	  	“Company”	  	 	A-2	  
	 (h)
	  	“Consultant”	  	 	A-2	  
	 (i)
	  	“Employee”	  	 	A-2	  
	 (j)
	  	“Exchange Act”	  	 	A-2	  
	 (k)
	  	“Exercise Price”	  	 	A-2	  
	 (l)
	  	“Fair Market Value”	  	 	A-2	  
	 (m)
	  	“ISO”	  	 	A-2	  
	 (n)
	  	“Nonstatutory Option” or “NSO”	  	 	A-2	  
	 (o)
	  	“Offeree”	  	 	A-3	  
	 (p)
	  	“Option”	  	 	A-3	  
	 (q)
	  	“Optionee”	  	 	A-3	  
	 (r)
	  	“Outside Director”	  	 	A-3	  
	 (s)
	  	“Parent”	  	 	A-3	  
	 (t)
	  	“Participant”	  	 	A-3	  
	 (u)
	  	“Plan”	  	 	A-3	  
	 (v)
	  	“Purchase Price”	  	 	A-3	  
	 (w)
	  	“Restricted Share”	  	 	A-3	  
	 (x)
	  	“Restricted Share Agreement”	  	 	A-3	  
	 (y)
	  	“SAR”	  	 	A-3	  
	 (z)
	  	“SAR Agreement”	  	 	A-3	  
	 (aa)
	  	“Service”	  	 	A-3	  
	 (bb)
	  	“Share”	  	 	A-3	  
	 (cc)
	  	“Stock”	  	 	A-3	  
	 (dd)
	  	“Stock Option Agreement”	  	 	A-3	  
	 (ee)
	  	“Stock Unit”	  	 	A-4	  
	 (ff)
	  	“Stock Unit Agreement”	  	 	A-4	  
	 (gg)
	  	“Subsidiary”	  	 	A-4	  
	 (hh)
	  	“Total and Permanent Disability”	  	 	A-4	  
			
	 SECTION 3.
	  	ADMINISTRATION.	  	 	A-4	  
	 (a)
	  	Committee Composition	  	 	A-4	  
	 (b)
	  	Committee for Non-Officer Grants	  	 	A-4	  

							
			
	 (c)
	  	Committee Procedures	  	 	A-4	  
	 (d)
	  	Committee Responsibilities	  	 	A-4	  
			
	 SECTION 4.
	  	ELIGIBILITY.	  	 	A-5	  
	 (a)
	  	General Rule	  	 	A-5	  
	 (b)
	  	Ten-Percent Stockholders	  	 	A-5	  
	 (c)
	  	Attribution Rules	  	 	A-5	  
	 (d)
	  	Outstanding Stock	  	 	A-5	  
			
	 SECTION 5.
	  	STOCK SUBJECT TO PLAN.	  	 	A-6	  
	 (a)
	  	Basic Limitation	  	 	A-6	  
	 (b)
	  	Award Limitation	  	 	A-6	  
	 (c)
	  	Additional Shares	  	 	A-6	  
			
	 SECTION 6.
	  	RESTRICTED SHARES.	  	 	A-6	  
	 (a)
	  	Restricted Stock Agreement	  	 	A-6	  
	 (b)
	  	Payment for Awards	  	 	A-6	  
	 (c)
	  	Vesting	  	 	A-6	  
	 (d)
	  	Voting and Dividend Rights	  	 	A-6	  
	 (e)
	  	Restrictions on Transfer of Shares	  	 	A-6	  
			
	 SECTION 7.
	  	TERMS AND CONDITIONS OF OPTIONS.	  	 	A-7	  
	 (a)
	  	Stock Option Agreement	  	 	A-7	  
	 (b)
	  	Number of Shares	  	 	A-7	  
	 (c)
	  	Exercise Price	  	 	A-7	  
	 (d)
	  	Withholding Taxes	  	 	A-7	  
	 (e)
	  	Exercisability and Term	  	 	A-7	  
	 (f)
	  	Exercise of Options	  	 	A-7	  
	 (g)
	  	Effect of Change in Control	  	 	A-7	  
	 (h)
	  	No Rights as a Stockholder	  	 	A-7	  
	 (i)
	  	Modification, Extension and Renewal of Options	  	 	A-7	  
	 (j)
	  	Restrictions on Transfer of Shares	  	 	A-7	  
	 (k)
	  	Buyout Provisions	  	 	A-8	  
			
	 SECTION 8.
	  	PAYMENT FOR SHARES.	  	 	A-8	  
	 (a)
	  	General Rule	  	 	A-8	  
	 (b)
	  	Surrender of Stock	  	 	A-8	  
	 (c)
	  	Services Rendered	  	 	A-8	  
	 (d)
	  	Cashless Exercise	  	 	A-8	  
	 (e)
	  	Exercise/Pledge	  	 	A-8	  
	 (f)
	  	Other Forms of Payment	  	 	A-8	  
	 (g)
	  	Limitations under Applicable Law	  	 	A-8	  
			
	 SECTION 9.
	  	STOCK APPRECIATION RIGHTS.	  	 	A-8	  
	 (a)
	  	SAR Agreement	  			

							
	 (b)
	  	Number of Shares	  	 	A-8	  
	 (c)
	  	Exercise Price	  	 	A-8	  
	 (d)
	  	Exercisability and Term	  	 	A-8	  
	 (e)
	  	Effect of Change in Control	  	 	A-9	  
	 (f)
	  	Exercise of SARs	  	 	A-9	  
	 (g)
	  	Modification or Assumption of SARs	  	 	A-9	  
	 (h)
	  	Buyout Provisions	  	 	A-9	  
			
	 SECTION 10.
	  	STOCK UNITS.	  	 	A-8	  
	 (a)
	  	Stock Unit Agreement	  	 	A-9	  
	 (b)
	  	Payment for Awards	  	 	A-9	  
	 (c)
	  	Vesting Conditions	  	 	A-9	  
	 (d)
	  	Voting and Dividend Rights	  	 	A-9	  
	 (e)
	  	Form and Time of Settlement of Stock Units	  	 	A-9	  
	 (f)
	  	Death of Recipient	  	 	A-10	  
	 (g)
	  	Creditors’ Rights	  	 	A-10	  
			
	 SECTION 11.
	  	ADJUSTMENT OF SHARES.	  	 	A-10	  
	 (a)
	  	Adjustments	  	 	A-10	  
	 (b)
	  	Dissolution or Liquidation	  	 	A-10	  
	 (c)
	  	Reorganizations	  	 	A-10	  
	 (d)
	  	Reservation of Rights	  	 	A-10	  
			
	 SECTION 12.
	  	DEFERRAL OF AWARDS.	  	 	A-11	  
	 (a)
	  	Committee Powers	  	 	A-11	  
	 (b)
	  	General Rules	  	 	A-11	  
			
	 SECTION 13.
	  	AWARDS UNDER OTHER PLANS.	  	 	A-10	  
			
	 SECTION 14.
	  	PAYMENT OF DIRECTOR’S FEES IN SECURITIES.	  	 	A-11	  
	 (a)
	  	Effective Date	  	 	A-11	  
	 (b)
	  	Elections to Receive NSOs, Restricted Shares or Stock Units	  	 	A-11	  
	 (c)
	  	Number and Terms of NSOs, Restricted Shares or Stock Units	  	 	A-11	  
			
	 SECTION 15.
	  	LEGAL AND REGULATORY REQUIREMENTS.	  	 	A-11	  
			
	 SECTION 16.
	  	WITHHOLDING TAXES; COMPLIANCE WITH SECTION 409A OF THE CODE.	  	 	A-12	  
	 (a)
	  	General	  	 	A-12	  
	 (b)
	  	Share Withholding	  	 	A-12	  
			
	 SECTION 17.
	  	OTHER PROVISIONS APPLICABLE TO AWARDS.	  	 	A-12	  
	 (a)
	  	Transferability	  	 	A-12	  
	 (b)
	  	Qualifying Performance Criteria	  	 	A-13	  
			
	 SECTION 18.
	  	NO EMPLOYMENT RIGHTS.	  	 	A-13	  

							
	 SECTION 19.
	  	DURATION AND AMENDMENTS.	  	 	A-13	  
	 (a)
	  	Term of the Plan	  	 	A-13	  
	 (b)
	  	Right to Amend or Terminate the Plan	  	 	A-13	  
	 (c)
	  	Effect of Termination	  	 	A-13	  
			
	 SECTION 20.
	  	EXECUTION.	  	 	A-13	  

 SUNPOWER CORPORATION 

THIRD AMENDED AND RESTATED SUNPOWER CORPORATION 2005 STOCK INCENTIVE PLAN 
 SECTION 1. ESTABLISHMENT AND PURPOSE. 
 The Plan was adopted by the Board of
Directors on August 12, 2005, and amended by the Board of Directors on September 23, 2005, and the Plan as so amended was approved by the shareholders of the Company on October 10, 2005, to be effective as of the date of the initial
offering of Stock to the public pursuant to a registration statement filed by the Company with the Securities and Exchange Commission (the “Effective Date”), which was November 17, 2005. The Plan reflects the two for one reverse stock
split effected on November 10, 2005. The Plan was subsequently amended by the Board of Directors and the shareholders of the Company on May 4, 2006, amended by the Board of Directors and the shareholders of the Company again effective
February 12, 2007, amended by the Board of Directors and the shareholders of the Company effective May 4, 2007, amended by the Board of Directors and the shareholders of the Company effective May 8, 2008, amended by the Board of
Directors effective March 12, 2009 and, amended by the Board of Directors and the shareholders effective November 15, 2011. The purpose of the Plan is to promote the long-term success of the Company and the creation of stockholder value by
(a) encouraging Employees, Outside Directors and Consultants to focus on critical long-range objectives, (b) encouraging the attraction and retention of Employees, Outside Directors and Consultants with exceptional qualifications and
(c) linking Employees, Outside Directors and Consultants directly to stockholder interests through increased stock ownership. The Plan seeks to achieve this purpose by providing for Awards in the form of restricted shares, stock units, options
(which may constitute incentive stock options or nonstatutory stock options) or stock appreciation rights. 
 SECTION 2. DEFINITIONS.

 (a) “Affiliate” shall mean any entity other than a Subsidiary, if the Company and/or one of more
Subsidiaries own not less than 50% of such entity. 
 (b) “Award” shall mean any award of an Option, a
SAR, a Restricted Share or a Stock Unit under the Plan. 
 (c) “Board of Directors” shall mean the Board
of Directors of the Company, as constituted from time to time. 
 (d) “Change in Control” shall mean the
occurrence of any of the following events: 
 (i) Any “person” (as defined below) other than Total
S.A., a société anonyme organized under the laws of the Republic of France, or any member of Total Group who by the acquisition or aggregation of securities, is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special
circumstances) having the right to vote at elections of directors (the “Base Capital Stock”); except that any change in the relative beneficial ownership of the Company’s securities by any person resulting solely from a reduction in
the aggregate number of outstanding shares of Base Capital Stock, and any decrease thereafter in such person’s ownership of securities, shall be disregarded until such person increases in any manner, directly or indirectly, such person’s
beneficial ownership of any securities of the Company; or 
 (ii) The consummation of a merger or consolidation
of the Company with or into another entity or any other corporate reorganization, if persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization own immediately after such merger,
consolidation or other reorganization 50% or more of the voting power of the outstanding securities of each of (A) the continuing or surviving entity and (B) any direct or indirect parent corporation of such continuing or surviving entity;
or 
 (iii) The sale, transfer or other disposition of all or substantially all of the Company’s assets.

 For purposes of subsection (d)(ii) above, the term “person” shall have the same meaning as when used in Sections
13(d) and 14(d) of the Exchange Act but shall exclude (1) a trustee or other fiduciary holding securities under an employee benefit plan maintained by the Company or a Parent or Subsidiary and (2) a corporation owned directly or indirectly
by the stockholders of the Company in substantially the same proportions as their ownership of the Stock. 

  
 A-1

 Any other provision of this Section 2(d) notwithstanding, a transaction shall not
constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s
securities immediately before such transaction, and a Change in Control shall not be deemed to occur if the Company files a registration statement with the United States Securities and Exchange Commission for the initial offering of Stock to the
public or if there is a spinoff of the Company by a Parent resulting in a dividend or distribution payable in Stock to the Parent’s stockholders. 
 (e) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (f) “Committee” shall mean the Compensation Committee as designated by the Board of Directors, which is authorized to administer the Plan, as described in Section 3 hereof.

 (g) “Company” shall mean SunPower Corporation, a Delaware corporation. 

(h) “Consultant” shall mean (i) a consultant or advisor who provides bona fide services to the Company, a Parent, a
Subsidiary or an Affiliate as an independent contractor (not including service as a member of the Board of Directors) or a member of the board of directors of a Parent or a Subsidiary, in each case who is not an Employee, or (ii) a common-law
employee of an Affiliate. 
 (i) “Employee” shall mean any individual who is a common-law employee of the
Company, a Parent or a Subsidiary. 
 (j) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 (k) “Exercise Price” shall mean, in the case of an Option, the amount for which one Share may be
purchased upon exercise of such Option, as specified in the applicable Stock Option Agreement. “Exercise Price,” in the case of a SAR, shall mean an amount, as specified in the applicable SAR Agreement, which is subtracted from the Fair
Market Value of one Share in determining the amount payable upon exercise of such SAR. 
 (l) “Fair Market Value”
with respect to a Share, shall mean the market price of one Share, determined by the Committee as follows: 

(i) If the Stock was traded over-the-counter on the date in question but was not traded on The Nasdaq Stock Market LLC,
then the Fair Market Value shall be equal to the last transaction price quoted for such date by the OTC Bulletin Board or, if not so quoted, shall be equal to the mean between the last reported representative bid and asked prices quoted for such
date by the principal automated inter-dealer quotation system on which the Stock is quoted or, if the Stock is not quoted on any such system, by the Pink Sheets LLC; 

(ii) If the Stock was traded on The Nasdaq Stock Market LLC, then the Fair Market Value shall be equal to the last
reported sale price quoted for such date by The Nasdaq Stock Market LLC; 
 (iii) If the Stock was traded on a
United States stock exchange on the date in question, then the Fair Market Value shall be equal to the closing price reported for such date by the applicable composite-transactions report; and 

(iv) If none of the foregoing provisions is applicable, then the Fair Market Value shall be determined by the Committee in
good faith on such basis as it deems appropriate. 
 In all cases, the determination of Fair Market Value by the Committee shall
be conclusive and binding on all persons. 
 (m) “ISO” shall mean an employee incentive stock option described
in Section 422 of the Code. 
 (n) “Nonstatutory Option” or “NSO” shall mean an employee
stock option that is not an ISO. 

  
 A-2

 (o) “Offeree” shall mean an individual to whom the Committee has offered
the right to acquire Shares under the Plan (other than upon exercise of an Option). 
 (p) “Option” shall mean
an ISO or Nonstatutory Option granted under the Plan and entitling the holder to purchase Shares. 
 (q)
“Optionee” shall mean an individual or estate who holds an Option or SAR. 
 (r) “Outside
Director” shall mean a member of the Board of Directors who is also an “independent director” as defined in (i) if the Stock is listed on The Nasdaq Stock Market LLC, Rule 4200(a)(15) of the Marketplace Rules of The Nasdaq
Stock Market LLC, as such rule may be amended from time to time, which governs the independence determination with respect to directors serving on the board of directors for companies listed on The Nasdaq Stock Market LLC or (ii) if the Stock
is listed on the New York Stock Exchange, Section 303A.02 of the New York Stock Exchange Listed Company Manual, as such rule may be amended from time to time, which governs the independence determination with respect to directors serving on the
board of directors for companies listed on the New York Stock Exchange. 
 (s) “Parent” shall mean any
corporation (other than the Company) in an unbroken chain of corporations ending with the Company, if each of the corporations other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one
of the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be a Parent commencing as of such date. 

(t) “Participant” shall mean an individual or estate who holds an Award. 

(u) “Plan” shall mean this Third Amended and Restated SunPower Corporation 2005 Stock Incentive Plan, as amended or
amended and restated from time to time. 
 (v) “Purchase Price” shall mean the consideration for which one
Share may be acquired under the Plan (other than upon exercise of an Option), as specified by the Committee. 
 (w)
“Restricted Share” shall mean a Share awarded under the Plan. 
 (x) “Restricted Share
Agreement” shall mean the agreement between the Company and the recipient of a Restricted Share which contains the terms, conditions and restrictions pertaining to such Restricted Shares. 

(y) “SAR” shall mean a stock appreciation right granted under the Plan. 

(z) “SAR Agreement” shall mean the agreement between the Company and an Optionee which contains the terms, conditions
and restrictions pertaining to his or her SAR. 
 (aa) “Service” shall mean service as an Employee, Consultant
or Outside Director. Service does not terminate when an Employee goes on a bona fide leave of absence, that was approved by the Company in writing, if the terms of the leave provide for continued service crediting, or when continued service
crediting is required by applicable law. However, for purposes of determining whether an Option is entitled to ISO status, an Employee’s employment will be treated as terminating 90 days after such Employee went on leave, unless such
Employee’s right to return to active work is guaranteed by law or by a contract. Service terminates in any event when the approved leave ends, unless such Employee immediately returns to active work. The Company determines which leaves count
toward Service, and when Service terminates for all purposes under the Plan. 
 (bb) “Share” shall mean one
share of Stock, as adjusted in accordance with Section 11 (if applicable). 
 (cc) “Stock” shall mean the
Class A Common Stock of the Company, and after the reclassification of the Company’s Class A Common Stock and Class B Common Stock into a single class of Common Stock, the Common Stock of the Company. 

(dd) “ Stock Option Agreement” shall mean the agreement between the Company and an Optionee that contains the terms,
conditions and restrictions pertaining to his Option. 

  
 A-3

 (ee) “Stock Unit” shall mean a bookkeeping entry representing the
equivalent of one Share, as awarded under the Plan. 
 (ff) “Stock Unit Agreement” shall mean the agreement
between the Company and the recipient of a Stock Unit which contains the terms, conditions and restrictions pertaining to such Stock Unit. 
 (gg) “Subsidiary” shall mean any corporation, if the Company and/or one or more other Subsidiaries own not less than 50% of the total combined voting power of all classes of outstanding
stock of such corporation. A corporation that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

(hh) “Total and Permanent Disability” shall mean permanent and total disability as defined by section 22(e)(3) of the
Code. 
 (ii) “Total Group” shall mean Total S.A., any Affiliate of Total S.A., any 13D Group of which Total
S.A. or any of its Affiliates is a member, and any member(s) of any 13D Group of which Total S.A. or any of its Affiliates is a member; provided, however, that none of the Company nor any Subsidiary nor any Disinterested Director of
the Company shall be deemed to be a member of the Total Group. “Affiliate,” “13D Group” and “Disinterested Director” shall have their respective meanings set forth in the Affiliation Agreement, dated April 28,
2011, as amended from time to time, between the Company and Total Power & Gas USA, SAS, a société par actions simplifiée organized under the laws of the Republic of France. 

SECTION 3. ADMINISTRATION. 
 (a) Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist of two or more directors of the Company, who shall be appointed by the Board. In addition,
the composition of the Committee shall satisfy (i) such requirements as the Securities and Exchange Commission may establish for administrators acting under plans intended to qualify for exemption under Rule 16b-3 (or its successor) under the
Exchange Act; and (ii) such requirements as the Internal Revenue Service may establish for outside directors acting under plans intended to qualify for exemption under Section 162(m)(4)(C) of the Code. 

(b) Committee for Non-Officer Grants. The Board may also appoint one or more separate committees of the Board, each composed of
one or more directors of the Company who need not satisfy the requirements of Section 3(a), who may administer the Plan with respect to Employees who are not considered officers or directors of the Company under Section 16 of the Exchange
Act, may grant Awards under the Plan to such Employees and may determine all terms of such grants. Within the limitations of the preceding sentence, any reference in the Plan to the Committee shall include such committee or committees appointed
pursuant to the preceding sentence. The Board of Directors may also authorize one or more officers of the Company to designate Employees, other than officers under Section 16 of the Exchange Act, to receive Awards and/or to determine the number
of such Awards to be received by such persons; provided, however, that the Board of Directors shall specify the total number of Awards that such officers may so award. 
 (c) Committee Procedures. The Board of Directors shall designate one of the members of the Committee as chairman. The Committee may hold meetings at such times and places as it shall determine. The
acts of a majority of the Committee members present at meetings at which a quorum exists, or acts reduced to or approved in writing by all Committee members, shall be valid acts of the Committee. 

(d) Committee Responsibilities. Subject to the provisions of the Plan, the Committee shall have full authority and discretion to
take the following actions: 
 (i) To interpret the Plan and to apply its provisions; 

(ii) To adopt, amend or rescind rules, procedures and forms relating to the Plan, including rules and regulations relating
to sub-plans established for the purpose of satisfying applicable foreign laws including qualifying for preferred tax treatment under applicable foreign tax laws; 

(iii) To authorize any person to execute, on behalf of the Company, any instrument required to carry out the purposes of
the Plan; 
 (iv)To determine when Awards are to be granted under the Plan; 

  
 A-4

 (v) To select the Offerees and Optionees; 

(vi)To determine the number of Shares to be made subject to each Award; 

(vii) To prescribe the terms and conditions of each Award, including (without limitation) the Exercise Price and Purchase
Price, and the vesting or duration of the Award (including accelerating the vesting of Awards, either at the time of the Award or thereafter, without the consent of the Participant), to determine whether an Option is to be classified as an ISO or as
a Nonstatutory Option, and to specify the provisions of the agreement relating to such Award; 
 (viii) To amend
any outstanding Award agreement, subject to applicable legal restrictions and to the consent of the Participant if the Participant’s rights or obligations would be materially impaired; 

(ix) To prescribe the consideration for the grant of each Award or other right under the Plan and to determine the
sufficiency of such consideration; 
 (x) To determine the disposition of each Award or other right under the
Plan in the event of a Participant’s divorce or dissolution of marriage; 
 (xi) To determine whether Awards
under the Plan will be granted in replacement of other grants under an incentive or other compensation plan of an acquired business; 
 (xii) To correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any Award agreement; 

(xiii) To establish or verify the extent of satisfaction of any performance goals or other conditions applicable to the
grant, issuance, exercisability, vesting and/or ability to retain any Award; and 
 (xiv) To take any other
actions deemed necessary or advisable for the administration of the Plan. 
 Subject to the requirements of applicable law, the
Committee may designate persons other than members of the Committee to carry out its responsibilities and may prescribe such conditions and limitations as it may deem appropriate, except that the Committee may not delegate its authority with regard
to the selection for participation of or the granting of Options or other rights under the Plan to persons subject to Section 16 of the Exchange Act. All decisions, interpretations and other actions of the Committee shall be final and binding
on all Offerees, all Optionees, and all persons deriving their rights from an Offeree or Optionee. No member of the Committee shall be liable for any action that he has taken or has failed to take in good faith with respect to the Plan, any Option,
or any right to acquire Shares under the Plan. 
 SECTION 4. ELIGIBILITY. 

(a) General Rule. Only Employees shall be eligible for the grant of ISOs. Only Employees, Consultants and Outside Directors shall
be eligible for the grant of Restricted Shares, Stock Units, Nonstatutory Options or SARs. 
 (b) Ten-Percent
Stockholders . An Employee who owns more than 10% of the total combined voting power of all classes of outstanding stock of the Company, a Parent or Subsidiary shall not be eligible for the grant of an ISO unless such grant satisfies the
requirements of Section 422(c)(5) of the Code. 
 (c) Attribution Rules. For purposes of Section 4(b) above, in
determining stock ownership, an Employee shall be deemed to own the stock owned, directly or indirectly, by or for such Employee’s brothers, sisters, spouse, ancestors and lineal descendants. Stock owned, directly or indirectly, by or for a
corporation, partnership, estate or trust shall be deemed to be owned proportionately by or for its stockholders, partners or beneficiaries. 
 (d) Outstanding Stock. For purposes of Section 4(b) above, “outstanding stock” shall include all stock actually issued and outstanding immediately after the grant. “Outstanding
stock” shall not include shares authorized for issuance under outstanding options held by the Employee or by any other person. 

  
 A-5

 SECTION 5. STOCK SUBJECT TO PLAN. 

(a) Basic Limitation. Shares offered under the Plan shall be authorized but unissued Shares or treasury Shares. As of
January 3, 2011, there was an aggregate of 11,623,983 Shares authorized for issuance as Awards under the Second Amended and Restated SunPower Corporation 2005 Stock Incentive Plan (the “January 2011 Limit”). The aggregate number of
Shares authorized for issuance as Awards under the Plan shall not exceed the January 2011 Limit plus (i) any Shares subject to options granted under the Company’s 1988 Incentive Stock Plan and 1996 Stock Plan which lapse or otherwise
terminate prior to being exercised subsequent to August 12, 2005, plus (ii) any of the 105,000 Shares subject to non-plan options granted during 2004 that lapse or otherwise terminate prior to being exercised subsequent to August 12,
2005, and plus (iii) 2,500,000 Shares. Notwithstanding the foregoing, the number of Shares available for issuance under the Plan will be increased on the first day of each fiscal year beginning with the 2012 fiscal year, in an amount equal to
the least of (x) 3% of the outstanding shares of all classes of common stock of the Company on the last day of the immediately preceding fiscal year, (y) 6,000,000 Shares, or (z) such number of Shares determined by the Board of
Directors. The limitations of this Section 5(a) shall be subject to adjustment pursuant to Section 11. The number of Shares that are subject to Options or other Awards outstanding at any time under the Plan shall not exceed the number of
Shares which then remain available for issuance under the Plan. The Company, during the term of the Plan, shall at all times reserve and keep available sufficient Shares to satisfy the requirements of the Plan. Notwithstanding the above, the
aggregate number of shares actually issued or transferred by the Company upon the exercise of ISOs will not exceed fifteen million (15,000,000) shares. 
 (b) Award Limitation. Subject to the provisions of Section 11, no Participant may receive Options, SARs, Restricted Shares or Stock Units under the Plan in any calendar year that relate to
more than five hundred thousand (500,000) Shares. 
 (c) Additional Shares. If Restricted Shares or Shares issued
upon the exercise of Options are forfeited, then such Shares shall again become available for Awards under the Plan. If Stock Units, Options or SARs are forfeited or terminate for any other reason before being exercised, then the corresponding
Shares shall become available for Awards under the Plan. If Stock Units are settled, then only the number of Shares (if any) actually issued in settlement of such Stock Units shall reduce the number available under Section 5(a) and the balance
shall again become available for Awards under the Plan. If SARs are exercised, then only the number of Shares (if any) actually issued in settlement of such SARs shall reduce the number available in Section 5(a) and the balance shall again
become available for Awards under the Plan. 
 SECTION 6. RESTRICTED SHARES. 

(a) Restricted Stock Agreement. Each grant of Restricted Shares under the Plan shall be evidenced by a Restricted Stock Agreement
between the recipient and the Company. Such Restricted Shares shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Restricted Stock
Agreements entered into under the Plan need not be identical. 
 (b) Payment for Awards. Subject to the following
sentence, Restricted Shares may be sold or awarded under the Plan for such consideration as the Committee may determine, including (without limitation) cash, cash equivalents, full-recourse promissory notes, past services and future services.

 (c) Vesting. Each Award of Restricted Shares may or may not be subject to vesting. Vesting shall occur, in full or in
installments, upon satisfaction of the conditions specified in the Restricted Stock Agreement. A Restricted Stock Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or other events.
The Committee may determine, at the time of granting Restricted Shares of thereafter, that all or part of such Restricted Shares shall become vested in the event that a Change in Control occurs with respect to the Company. 

(d) Voting and Dividend Rights . The holders of Restricted Shares awarded under the Plan shall have the same voting, dividend and
other rights as the Company’s other stockholders. A Restricted Stock Agreement, however, may require that the holders of Restricted Shares invest any cash dividends received in additional Restricted Shares. Such additional Restricted Shares
shall be subject to the same conditions and restrictions as the Award with respect to which the dividends were paid. 
 (e)
Restrictions on Transfer of Shares. Restricted Shares shall be subject to such rights of repurchase, rights of first refusal or other restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable
Restricted Stock Agreement and shall apply in addition to any general restrictions that may apply to all holders of Shares. 

  
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 SECTION 7. TERMS AND CONDITIONS OF OPTIONS. 

(a) Stock Option Agreement. Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the
Optionee and the Company. Such Option shall be subject to all applicable terms and conditions of the Plan and may be subject to any other terms and conditions which are not inconsistent with the Plan and which the Committee deems appropriate for
inclusion in a Stock Option Agreement. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted
in consideration of a reduction in the Optionee’s other compensation. 
 (b) Number of Shares. Each Stock Option
Agreement shall specify the number of Shares that are subject to the Option and shall provide for the adjustment of such number in accordance with Section 11. 
 (c) Exercise Price. Each Stock Option Agreement shall specify the Exercise Price. The Exercise Price of an Option shall not be less than 100% of the Fair Market Value of a Share on the date of
grant. Subject to the foregoing in this Section 7(c), the Exercise Price under any Option shall be determined by the Committee at its sole discretion. The Exercise Price shall be payable in one of the forms described in Section 8.

 (d) Withholding Taxes. As a condition to the exercise of an Option, the Optionee shall make such arrangements as the
Committee may require for the satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with such exercise. The Optionee shall also make such arrangements as the Committee may require for the
satisfaction of any federal, state, local or foreign withholding tax obligations that may arise in connection with the disposition of Shares acquired by exercising an Option. 
 (e) Exercisability and Term. Each Stock Option Agreement shall specify the date when all or any installment of the Option is to become exercisable. The Stock Option Agreement shall also specify the
term of the Option; provided that the term of an ISO shall in no event exceed 10 years from the date of grant (five years for Employees described in Section 4(b)). A Stock Option Agreement may provide for accelerated exercisability in the event
of the Optionee’s death, disability, or retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the Optionee’s Service. Options may be awarded in combination with SARs, and
such an Award may provide that the Options will not be exercisable unless the related SARs are forfeited. Subject to the foregoing in this Section 7(e), the Committee at its sole discretion shall determine when all or any installment of an
Option is to become exercisable and when an Option is to expire. 
 (f) Exercise of Options. Each Stock Option Agreement
shall set forth the extent to which the Optionee shall have the right to exercise the Option following termination of the Optionee’s Service with the Company and its Subsidiaries, and the right to exercise the Option of any executors or
administrators of the Optionee’s estate or any person who has acquired such Option(s) directly from the Optionee by bequest or inheritance. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among
all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service. 
 (g)
Effect of Change in Control. The Committee may determine, at the time of granting an Option or thereafter, that such Option shall become exercisable as to all or part of the Shares subject to such Option in the event that a Change in Control
occurs with respect to the Company. 
 (h) No Rights as a Stockholder. An Optionee, or a transferee of an Optionee, shall
have no rights as a stockholder with respect to any Shares covered by his Option until the date of the issuance of a stock certificate for such Shares. No adjustments shall be made, except as provided in Section 11. 

(i) Modification, Extension and Renewal of Options. Within the limitations of the Plan, the Committee may modify, extend or renew
outstanding options or may accept the cancellation of outstanding options (to the extent not previously exercised), whether or not granted hereunder, in return for the grant of new Options for the same or a different number of Shares and at the same
or a different exercise price, or in return for the grant of the same or a different number of Shares. The foregoing notwithstanding, no modification of an Option shall, without the consent of the Optionee, materially impair his or her rights or
obligations under such Option. 
 (j) Restrictions on Transfer of Shares. Any Shares issued upon exercise of an Option
shall be subject to such special forfeiture conditions, rights of repurchase, rights of first refusal and other transfer restrictions as the Committee may determine. Such restrictions shall be set forth in the applicable Stock Option Agreement and
shall apply in addition to any general restrictions that may apply to all holders of Shares. 

  
 A-7

 (k) Buyout Provisions. The Committee may at any time (a) offer to buy out for a
payment in cash or cash equivalents an Option previously granted or (b) authorize an Optionee to elect to cash out an Option previously granted, in either case at such time and based upon such terms and conditions as the Committee shall
establish. 
 SECTION 8. PAYMENT FOR SHARES. 
 (a) General Rule. The entire Exercise Price or Purchase Price of Shares issued under the Plan shall be payable in lawful money of the United States of America at the time when such Shares are
purchased, except as provided in Section 8(b) through Section 8(g) below. 
 (b) Surrender of Stock. To the
extent that a Stock Option Agreement so provides, payment may be made all or in part by surrendering, or attesting to the ownership of, Shares which have already been owned by the Optionee or his representative. Such Shares shall be valued at their
Fair Market Value on the date when the new Shares are purchased under the Plan. The Optionee shall not surrender, or attest to the ownership of, Shares in payment of the Exercise Price if such action would cause the Company to recognize compensation
expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 
 (c) Services
Rendered. At the discretion of the Committee, Shares may be awarded under the Plan in consideration of services rendered to the Company or a Subsidiary prior to the award. If Shares are awarded without the payment of a Purchase Price in cash,
the Committee shall make a determination (at the time of the award) of the value of the services rendered by the Offeree and the sufficiency of the consideration to meet the requirements of Section 6(b). 

(d) Cashless Exercise. To the extent that a Stock Option Agreement so provides, payment may be made all or in part by delivery (on
a form prescribed by the Committee) of an irrevocable direction to a securities broker to sell Shares and to deliver all or part of the sale proceeds to the Company in payment of the aggregate Exercise Price. 

(e) Exercise/Pledge. To the extent that a Stock Option Agreement so provides, payment may be made all or in part by delivery (on a
form prescribed by the Committee) of an irrevocable direction to a securities broker or lender to pledge Shares, as security for a loan, and to deliver all or part of the loan proceeds to the Company in payment of the aggregate Exercise Price.

 (f) Other Forms of Payment. To the extent that a Stock Option Agreement or Restricted Stock Agreement so provides,
payment may be made in any other form that is consistent with applicable laws, regulations and rules. 
 (g) Limitations
under Applicable Law. Notwithstanding anything herein or in a Stock Option Agreement or Restricted Stock Agreement to the contrary, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion.

 SECTION 9. STOCK APPRECIATION RIGHTS. 
 (a) SAR Agreement. Each grant of a SAR under the Plan shall be evidenced by a SAR Agreement between the Optionee and the Company. Such SAR shall be subject to all applicable terms of the Plan and
may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various SAR Agreements entered into under the Plan need not be identical. SARs may be granted in consideration of a reduction in the Optionee’s
other compensation. 
 (b) Number of Shares. Each SAR Agreement shall specify the number of Shares to which the SAR
pertains and shall provide for the adjustment of such number in accordance with Section 11. 
 (c) Exercise Price.
Each SAR Agreement shall specify the Exercise Price, which shall be no less than 100% of the fair market value of a share on the date of grant. 
 (d) Exercisability and Term. Each SAR Agreement shall specify the date when all or any installment of the SAR is to become exercisable. The SAR Agreement shall also specify the term of the SAR. A
SAR Agreement may provide for accelerated exercisability in the event of the Optionee’s death, disability or retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the
Optionee’s service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be exercisable unless the related Options are forfeited. A SAR may be included in an ISO only at the time of grant but may
be included in an NSO at the time of grant or thereafter. A SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in Control. 

  
 A-8

 (e) Effect of Change in Control. The Committee may determine, at the time of granting
a SAR or thereafter, that such SAR shall become fully exercisable as to all Common Shares subject to such SAR in the event that a Change in Control occurs with respect to the Company. 

(f) Exercise of SARs. Upon exercise of a SAR, the Optionee (or any person having the right to exercise the SAR after his or her
death) shall receive from the Company (a) Shares, (b) cash or (c) a combination of Shares and cash, as the Committee shall determine. The amount of cash and/or the Fair Market Value of Shares received upon exercise of SARs shall, in
the aggregate, be equal to the amount by which the Fair Market Value (on the date of surrender) of the Shares subject to the SARs exceeds the Exercise Price. 
 (g) Modification or Assumption of SARs. Within the limitations of the Plan, the Committee may modify, extend or assume outstanding SARs or may accept the cancellation of outstanding SARs (whether
granted by the Company or by another issuer) in return for the grant of new SARs for the same or a different number of shares and at the same or a different exercise price. The foregoing notwithstanding, no modification of a SAR shall, without the
consent of the holder, materially impair his or her rights or obligations under such SAR. 
 (h) Buyout Provisions. The
Committee may at any time (a) offer to buy out for a payment in cash or cash equivalents a SAR previously granted or (b) authorize an Optionee to elect to cash out a SAR previously granted, in either case at such time and based upon such
terms and conditions as the Committee shall establish. 
 SECTION 10. STOCK UNITS. 

(a) Stock Unit Agreement. Each grant of Stock Units under the Plan shall be evidenced by a Stock Unit Agreement between the
recipient and the Company. Such Stock Units shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The provisions of the various Stock Unit Agreements entered into under
the Plan need not be identical. Stock Units may be granted in consideration of a reduction in the recipient’s other compensation. 
 (b) Payment for Awards. To the extent that an Award is granted in the form of Stock Units, no cash consideration shall be required of the Award recipients. 

(c) Vesting Conditions. Each Award of Stock Units may or may not be subject to vesting. Vesting shall occur, in full or in
installments, upon satisfaction of the conditions specified in the Stock Unit Agreement. A Stock Unit Agreement may provide for accelerated vesting in the event of the Participant’s death, disability or retirement or other events. The Committee
may determine, at the time of granting Stock Units or thereafter, that all or part of such Stock Units shall become vested in the event that a Change in Control occurs with respect to the Company. 

(d) Voting and Dividend Rights . The holders of Stock Units shall have no voting rights. Prior to settlement or forfeiture, any
Stock Unit awarded under the Plan may, at the Committee’s discretion, carry with it a right to dividend equivalents. Such right entitles the holder to be credited with an amount equal to all cash dividends paid on one Share while the Stock Unit
is outstanding. Dividend equivalents may be converted into additional Stock Units. Settlement of dividend equivalents may be made in the form of cash, in the form of Shares, or in a combination of both. Prior to distribution, any dividend
equivalents which are not paid shall be subject to the same conditions and restrictions (including without limitation, any forfeiture conditions) as the Stock Units to which they attach. 

(e) Form and Time of Settlement of Stock Units. Settlement of vested Stock Units may be made in the form of (a) cash,
(b) Shares or (c) any combination of both, as determined by the Committee. The actual number of Stock Units eligible for settlement may be larger or smaller than the number included in the original Award, based on predetermined performance
factors. Methods of converting Stock Units into cash may include (without limitation) a method based on the average Fair Market Value of Shares over a series of trading days. Vested Stock Units may be settled in a lump sum or in installments. The
distribution may occur or commence when all vesting conditions applicable to the Stock Units have been satisfied or have lapsed, or it may be deferred to any later date. The amount of a deferred distribution may be increased by an interest factor or
by dividend equivalents. Until an Award of Stock Units is settled, the number of such Stock Units shall be subject to adjustment pursuant to Section 11. 

  
 A-9

 (f) Death of Recipient. Any Stock Units Award that becomes payable after the
recipient’s death shall be distributed to the recipient’s estate. 
 (g) Creditors’ Rights. A holder of
Stock Units shall have no rights other than those of a general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company, subject to the terms and conditions of the applicable Stock Unit Agreement.

 SECTION 11. ADJUSTMENT OF SHARES. 
 (a) Adjustments. In the event of a subdivision of the outstanding Stock, a declaration of a dividend payable in Shares, a declaration of a dividend payable in a form other than Shares in an amount
that has a material effect on the price of Shares, a combination or consolidation of the outstanding Stock (by reclassification or otherwise) into a lesser number of Shares, a recapitalization, a spin-off or a similar occurrence, the Committee shall
make adjustments in one or more of: 
 (i) The number of Options, SARs, Restricted Shares and Stock Units
available for future Awards under Section 5; 
 (ii) The limitations set forth in Sections 5(a) and (b);

 (iii) The number of Shares covered by each outstanding Option and SAR; 

(iv) The Exercise Price under each outstanding Option and SAR; or 

(v) The number of Stock Units included in any prior Award which has not yet been settled. 

Except as provided in this Section 11, a Participant shall have no rights by reason of any issue by the Company of stock of any
class or securities convertible into stock of any class, any subdivision or consolidation of shares of stock of any class, the payment of any stock dividend or any other increase or decrease in the number of shares of stock of any class. The
reclassification of the Company’s Class A Common Stock and Class B Common Stock into a single class of Common Stock shall not be subject to adjustments under this Section 11, but, for the sake of clarity in accordance with the
definition of “Stock” in Section 2, following any such reclassification each Award that formerly covered Class A Common Stock shall cover an equal number of shares of Common Stock. 

(b) Dissolution or Liquidation. To the extent not previously exercised or settled, Options, SARs and Stock Units shall terminate
immediately prior to the dissolution or liquidation of the Company. 
 (c) Reorganizations. In the event that the Company
is a party to a merger or other reorganization, outstanding Awards shall be subject to the agreement of merger or reorganization. Such agreement shall provide for: 

(i) The continuation of the outstanding Awards by the Company, if the Company is a surviving corporation; 

(ii) The assumption of the outstanding Awards by the surviving corporation or its parent or subsidiary; 

(iii) The substitution by the surviving corporation or its parent or subsidiary of its own awards for the outstanding
Awards; 
 (iv) Acceleration of the expiration date of the outstanding unexercised Awards to a date not earlier
than thirty (30) days after notice to the Participant; or 
 (v) Settlement of the value of the outstanding
Awards which have vested as of the consummation of such merger or other reorganization in cash or cash equivalents; in the sole discretion of the Company, settlement of the value of some or all of the outstanding Awards which have not vested as of
the consummation of such merger or other reorganization in cash or cash equivalents on a deferred basis pending vesting; and the cancellation of all vested and unvested Awards as of the consummation of such merger or other reorganization.

 (d) Reservation of Rights. Except as provided in this Section 11, an Optionee or Offeree shall have no rights by
reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend or any other increase or decrease in the number of shares of stock of any class. Any issue by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or Exercise Price of Shares subject to an Option. The grant of an Option pursuant to the Plan
shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any
part of its business or assets. 

  
 A-10

 SECTION 12. DEFERRAL OF AWARDS. 

(a) Committee Powers. In a manner that complies with Section 409A of the Code, the Committee (in its sole discretion) may
permit or require a Participant to: 
 (i) Have cash that otherwise would be paid to such Participant as a result
of the exercise of a SAR or the settlement of Stock Units credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s books; 

(ii) Have Shares that otherwise would be delivered to such Participant as a result of the exercise of an Option or SAR
converted into an equal number of Stock Units; or 
 (iii) Have Shares that otherwise would be delivered to such
Participant as a result of the exercise of an Option or SAR or the settlement of Stock Units converted into amounts credited to a deferred compensation account established for such Participant by the Committee as an entry on the Company’s
books. Such amounts shall be determined by reference to the Fair Market Value of such Shares as of the date when they otherwise would have been delivered to such Participant. 
 (b) General Rules. A deferred compensation account established under this Section 12 may be credited with interest or other forms of investment return, as determined by the Committee. A
Participant for whom such an account is established shall have no rights other than those of a general creditor of the Company. Such an account shall represent an unfunded and unsecured obligation of the Company and shall be subject to the terms and
conditions of the applicable agreement between such Participant and the Company. If the deferral or conversion of Awards is permitted or required, the Committee (in its sole discretion) may establish rules, procedures and forms pertaining to such
Awards, including (without limitation) the settlement of deferred compensation accounts established under this Section 12. 
 SECTION
13. AWARDS UNDER OTHER PLANS. 
 The Company may grant awards under other plans or programs. Such awards may be settled in
the form of Shares issued under this Plan. Such Shares shall be treated for all purposes under the Plan like Shares issued in settlement of Stock Units and shall, when issued, reduce the number of Shares available under Section 5. 

SECTION 14. PAYMENT OF DIRECTOR’S FEES IN SECURITIES. 
 (a) Effective Date. No provision of this Section 14 shall be effective unless and until the Board has determined to implement such provision. 

(b) Elections to Receive NSOs, Restricted Shares or Stock Units. An Outside Director may elect to receive his or her annual
retainer payments and/or meeting fees from the Company in the form of cash, NSOs, Restricted Shares or Stock Units, or a combination thereof, as determined by the Board and in a manner that complies with Section 409A of the Code. Such NSOs,
Restricted Shares and Stock Units shall be issued under the Plan. An election under this Section 14 shall be filed with the Company on the prescribed form. 
 (c) Number and Terms of NSOs, Restricted Shares or Stock Units. The number of NSOs, Restricted Shares or Stock Units to be granted to Outside Directors in lieu of annual retainers and meeting fees
that would otherwise be paid in cash shall be calculated in a manner determined by the Board. The terms of such NSOs, Restricted Shares or Stock Units shall also be determined by the Board. 
 SECTION 15. LEGAL AND REGULATORY REQUIREMENTS. 
 Shares shall not be issued
under the Plan unless the issuance and delivery of such Shares complies with (or is exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated
thereunder, state securities laws and regulations and the regulations of any stock exchange on which the Company’s securities may then be listed, and the Company has obtained the approval or favorable ruling from any governmental agency which
the Company determines is necessary or advisable. The Company shall not be liable to a Participant or other persons as to: (a) the non-issuance or sale of Shares as to which the Company has been unable to obtain from any regulatory body having
jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares under the Plan; and (b) any tax consequences expected, but not realized, by any Participant or other person due to the
receipt, exercise or settlement of any Award granted under the Plan. 

  
 A-11

 SECTION 16. WITHHOLDING TAXES; COMPLIANCE WITH SECTION 409A OF THE CODE. 

(a) General. To the extent required by applicable federal, state, local or foreign law, a Participant or his or her successor shall
make arrangements satisfactory to the Company for the satisfaction of any withholding tax obligations that arise in connection with the Plan. The Company shall not be required to issue any Shares or make any cash payment under the Plan until such
obligations are satisfied. 
 (b) Share Withholding. The Committee may permit a Participant to satisfy all or part of his
or her withholding or income tax obligations by having the Company withhold all or a portion of any Shares that otherwise would be issued to him or her or by surrendering all or a portion of any Shares that he or she previously acquired. Such Shares
shall be valued at their Fair Market Value on the date when taxes otherwise would be withheld in cash. In no event may a Participant have Shares withheld that would otherwise be issued to him or her in excess of the number necessary to satisfy the
legally required minimum tax withholding. 
 (c) To the extent applicable, it is intended that this Plan and any grants made
hereunder comply with the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participants. This Plan and any grants made hereunder shall be administered in
a manner consistent with this intent. Any reference in this Plan to Section 409A of the Code will also include any regulations or any other formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the
Internal Revenue Service. 
 (d) Neither a Participant nor any of a Participant’s creditors or beneficiaries shall have the
right to subject any deferred compensation (within the meaning of Section 409A of the Code) payable under this Plan and grants hereunder to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or
garnishment. Except as permitted under Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the Code) payable to a Participant or for a Participant’s benefit under this Plan and grants hereunder
may not be reduced by, or offset against, any amount owing by a Participant to the Company or any of its affiliates. 
 (e) If,
at the time of a Participant’s separation from service (within the meaning of Section 409A of the Code), (i) the Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the
identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination that an amount payable hereunder constitutes deferred compensation (within the meaning of Section 409A of the
Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount
on the otherwise scheduled payment date but shall instead pay it, without interest, on the first business day of the seventh month after such six-month period. 
 (f) Notwithstanding any provision of this Plan and grants hereunder to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Company
reserves the right to make amendments to this Plan and grants hereunder as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, a Participant shall be solely
responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant or for a Participant’s account in connection with this Plan and grants hereunder (including any taxes and penalties under
Section 409A of the Code), and neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties. 

SECTION 17. OTHER PROVISIONS APPLICABLE TO AWARDS. 
 (a) Transferability. Unless the agreement evidencing an Award (or an amendment thereto authorized by the Committee) expressly provides otherwise, no Award granted under this Plan, nor any interest
in such Award, may be sold, assigned, conveyed, gifted, pledged, hypothecated or otherwise transferred in any manner (prior to the vesting and lapse of any and all restrictions applicable to Shares issued under such Award), other than by will or the
laws of descent and distribution; provided, however, that an ISO may be transferred or assigned only to the extent consistent with Section 422 of the Code. Any purported assignment, transfer or encumbrance in violation of this
Section 17(a) shall be void and unenforceable against the Company. 

  
 A-12

 (b) Qualifying Performance Criteria. The number of Shares or other benefits granted,
issued, retainable and/or vested under an Award may be made subject to the attainment of performance goals for a specified period of time relating to one or more of the following performance criteria, either individually, alternatively or in any
combination, applied to either the Company as a whole or to a business unit or Subsidiary, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or
relative to a pre-established target, to previous years’ results or to a designated comparison group or index, in each case as specified by the Committee in the Award: (a) cash flow, (b) earnings per share, (c) earnings before
interest, taxes and amortization, (d) return on equity, (e) total stockholder return, (f) share price performance, (g) return on capital, (h) return on assets or net assets, (i) revenue, (j) income or net income,
(k) operating income or net operating income, (l) operating profit or net operating profit, (m) operating margin or profit margin, (n) return on operating revenue, (o) return on invested capital, or (p) market segment
shares (“Qualifying Performance Criteria”). The Committee in an Award may provide for the adjustment of any evaluation of performance under a Qualifying Performance Criteria to exclude any objective and measurable events specified in the
Award, including but not limited to any of the following events that occurs during a performance period: (i) asset write-downs, (ii) litigation or claim judgments or settlements, (iii) the effect of changes in tax law, accounting
principles or other such laws or provisions affecting reported results, (iv) accruals for reorganization and restructuring programs, (v) acceleration of amortization of debt issuance costs, (vi) stock-based compensation charges,
(vii) purchase-accounting related charges, including amortization of intangible purchased assets, acquired in-process research and development charges, and similar charges associated with purchase accounting, (viii) any extraordinary
nonrecurring items as described in Accounting Principles Board Opinion No. 30, and (ix) the related tax effects associated with each of the adjustments listed in clauses (i) through (viii) above. If applicable, the Committee
shall determine the Qualifying Performance Criteria not later than the 90th day of the performance period, and shall determine and certify, for each Participant, the extent to which the Qualifying Performance Criteria have been met. The Committee
may not in any event increase the amount of compensation payable under the Plan upon the attainment of a Qualifying Performance Goal to a Participant who is a “covered employee” within the meaning of Section 162(m) of the Code.

 SECTION 18. NO EMPLOYMENT RIGHTS. 
 No provision of the Plan, nor any right or Option granted under the Plan, shall be construed to give any person any right to become, to be treated as, or to remain an Employee. The Company and its
Subsidiaries reserve the right to terminate any person’s Service at any time and for any reason, with or without notice. 
 SECTION 19.
DURATION AND AMENDMENTS. 
 (a) Term of the Plan. The Plan, as set forth herein, shall terminate automatically on
August 12, 2015 and may be terminated on any earlier date pursuant to Subsection (b) below. 
 (b) Right to Amend
or Terminate the Plan. The Board of Directors may amend the Plan at any time and from time to time. Rights and obligations under any Award granted before amendment of the Plan shall not be materially impaired by such amendment, except with
consent of the Participant. An amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, regulations or rules. 

(c) Effect of Termination. No Awards shall be granted under the Plan after the termination thereof. The termination of the Plan
shall not affect Awards previously granted under the Plan. 
 SECTION 20. EXECUTION. 

To record the adoption of the Plan by the Board of Directors, the Company has caused its authorized officer to execute the same.

  

			
	SUNPOWER CORPORATION
		
	By:	 	 /s/ Christopher Jaap

	Name:	 	 Christopher Jaap

	Title:	 	 Acting General Counsel and Assistant Secretary

  
 A-13

 THIRD AMENDED AND RESTATED 

SUNPOWER CORPORATION 2005 STOCK INCENTIVE PLAN 
 NOTICE OF GRANT OF RESTRICTED STOCK UNITS 
 SunPower Corporation, a Delaware corporation
(the “Company”), pursuant to its Third Amended and Restated SunPower Corporation 2005 Stock Incentive Plan, as amended from time to time (the “Plan”), hereby grants to the individual listed below
(“Grantee”) the number of Restricted Stock Units (“RSUs”) set forth below or on the “Summary of Award” on the online award acceptance page of the Company’s designated
broker with respect to shares of Common Stock (the “Shares”). The grant of RSUs is subject to all of the terms and conditions set forth in this Notice of Grant of Restricted Stock Units (“Notice of
Grant”), the Restricted Stock Unit Agreement, including the Appendix, which sets forth any applicable country-specific terms (together, the “Agreement”), the “Vesting Summary” set forth
online through the Company’s designated broker, and the Plan, all of which are incorporated herein by reference. Capitalized terms used in this Notice of Grant, or the Agreement, without definition shall have the meanings ascribed to them in
the Plan. 
  

							
	 Name of Grantee:
	  		  	
			
	 Date of Grant:
	  	  
	  	
				
	 Number of RSUs Granted:
	  	  
	  		  	
			
	 Grant Number:
	  	RSU-	  	
			
	 Vesting Schedule:
	  	[Insert vesting schedule.]	  	

 By Grantee’s electronic acceptance, or hard copy signature if Grantee resides in one of the countries listed below,
Grantee agrees to be bound by the terms and conditions of this Notice of Grant, the Vesting Summary, the Agreement, and the Plan. Grantee has reviewed and fully understands all of the provisions of this Notice of Grant, the Vesting Summary, the
Agreement, and the Plan in their entirety, and has had the opportunity to obtain advice of counsel prior to executing this Notice of Grant. Grantee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Committee upon any questions relating to this Notice of Grant, the Vesting Summary, the Agreement, and the Plan. 
 Grantee further agrees that
the Company may deliver by e-mail all documents relating to the Plan or this Award (including without limitation, prospectuses required under applicable law) and all other documents that the Company is required to deliver to its security holders
(including without limitation, annual reports and proxy statements). Grantee also agrees that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company. If the
Company posts these documents on a website, it will notify Grantee by e-mail. 

 Grantees residing in the following countries must print, sign & deliver the signed copy of this
Notice of Grant to: Attn: Magali Salomon, Manager, Stock Plan Services, c/o SunPower Corporation, 1414 Harbour Way South, Richmond, California 94804 U.S.A. 
  

							
	Countries: Belgium, Germany, and Italy.	 	
				
	Signature:	 	  
	 	Date:	 	  

				
	Name:	 	  
	 		 	

  
 2 

 THIRD AMENDED AND RESTATED 

SUNPOWER CORPORATION 2005 STOCK INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AGREEMENT 
 EXHIBIT A 

 

					
	 1.      Grant
	  	Pursuant to the Notice of Grant of Restricted Stock Units (the “Notice of Grant”) to which this Restricted Stock Unit Agreement, including
the Appendix (together, the “Agreement”) is attached, SunPower Corporation, a Delaware corporation (the “Company”), has granted to Grantee the right to receive the number of
Restricted Stock Units (“RSUs”) under the Third Amended and Restated SunPower Corporation 2005 Stock Incentive Plan, as amended from time to time (the “Plan”), as set forth
in the Notice of Grant. The term “Restricted Stock Units” shall have the same meaning ascribed to the term “Stock Units” in the Plan.
		
	 2.      Payment of RSUs
	  	The RSUs covered by this Agreement shall become payable to Grantee if and when they become nonforfeitable in accordance with Section 3 (Vesting Schedule) hereof.
		
	 3.      Vesting Schedule
	  	Subject to Section 4 (Forfeiture upon Termination of Service), the Grantee’s right to receive Shares subject to the RSUs awarded by this Agreement will vest in the Grantee
according to the vesting schedule set forth in the Notice of Grant and/or the Vesting Summary set forth online through the Company’s designated broker.
		
	 4.      Forfeiture upon Termination of Service
	  	Notwithstanding any contrary provision of this Agreement or the Notice of Grant, if the Grantee terminates Service with the Company for any or no reason prior to vesting, the
unvested RSUs awarded by this Agreement will thereupon be forfeited at no cost to the Company and without any consideration to Grantee. The date on which Service terminates shall not be extended by any notice period required to be given under local
law (e.g., Service would not include a period of “garden leave”); such termination date will be considered to be the last date of active employment.
		
	 5.      Leaves of Absence
	  	Grantee’s Service will not terminate and Grantee’s vesting will continue unaffected for up to 90 days, provided:
		
		  	(a) Grantee is on a personal leave of absence, which has been approved in writing by the Company or its Subsidiary or Affiliate that is Grantee’s employer (the
“Employer”); or

  
 A-1

					
		  	(b) Grantee is on a bona fide leave of absence for which Grantee is entitled to continued service crediting as a matter of law or under the terms of a contract.
		
		  	In all other circumstances, the Committee may suspend the vesting of the RSU, according to its policy and procedures for such leaves of absences. Further, if Grantee does not
return to active Service following a leave of absence in keeping with (a) or (b) above, Grantee will have terminated his or her employment and vesting will cease.
		
	 6.      Form and Time of Payment of RSUs
	  	Except as otherwise provided for in Section 9 (Adjustments), payment for the RSUs shall be made in form of whole Shares at the time they become nonforfeitable in accordance with
Section 3 (Vesting Schedule) hereof, or as soon as practicable thereafter, but with regard to U.S. taxpayers, in any event, within the period ending on the later to occur of the date that is 2 1/2 months within the period ending on the later to occur of the end of
(i) your tax year that includes the date of vesting, or (ii) the Company’s tax year that includes the applicable date of vesting.
		
	 7.      No Dividend Equivalents
	  	The Grantee of RSUs shall not be entitled to dividend equivalents.
		
	 8.      Grant is Not Transferable
	  	Subject to the provisions of Section 10(f) of the Plan regarding the designation of beneficiaries, neither the RSUs granted hereby nor any interest therein or in the Shares
related thereto shall be transferable other than by will or the laws of descent and distribution prior to payment of the RSU.
		
	 9.      Adjustments
	  	In the event of a stock split, a stock dividend or a similar change in Stock or other capitalization adjustment contemplated in Section 11(a) of the Plan, the number of RSUs
subject to this Agreement shall be adjusted pursuant to the Plan.
		
	 10.    Compliance with Section 409A of the Code
	  	For U.S. taxpayers, it is intended that the vesting and the payments of RSUs set forth in this Agreement shall qualify for exemption from the application of Section 409A of the
Code, and any ambiguities herein will be interpreted to so comply. The Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify this Agreement as may be necessary to
ensure that all vesting and/or payments provided under this Agreement are made in a manner that qualifies for exemption from or complies with Section 409A of the Code; provided, however, that the Company makes no representation that the vesting or
payments of RSUs provided under this Agreement will be exempt from Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to the vesting and/or payment of Restricted Stock Units provided under this
Agreement.

  
 A-2

					
	 11.    No Service Contract
	  	The grant of the RSU is voluntary and occasional and does not create any contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs
have been granted repeatedly in the past. The RSU and the Shares subject to the RSU are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination,
redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the
Company, the Employer or any Subsidiary or Affiliate.
		
	 12.    Retention Rights
	  	Neither the Award nor this Agreement gives Grantee the right to be retained by the Company, the Employer, or any Subsidiary or Affiliate in any capacity. The Award will not be
interpreted to form an employment contract or relationship with the Company, the Employer, or any Subsidiary or Affiliate. Grantee’s participation in the Plan shall not create a right to further employment with the Company or the Employer and
shall not interfere with the ability of the Company or the Employer to terminate Grantee’s employment or service relationship (if any) at any time with or without cause.
		
	 13.    Nature of Grant
	  	In accepting the grant, Grantee acknowledges, understands and agrees that:
		  	  
 (a) the Plan is established voluntarily by the Company, it is
discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time as set forth in the Plan;

	  	  
 (b) all decisions with respect to future RSU grants, if any,
will be at the sole discretion of the Company;

	  	  
 (c) Grantee is voluntarily participating in the
Plan;

	  	  
 (d) the future value of the underlying Shares is unknown and
cannot be predicted with certainty;

  
 A-3

					
		  	  
 (e) in keeping with Section 11(c) of the Plan, the RSU and the
benefits under the Plan, if any, will not automatically transfer to another company in the case of a merger, take-over or transfer of liability;

	  	  
 (f) for Grantees who reside outside the U.S., the following
additional provisions shall apply:

	  	  
 (i) the RSU and the Shares subject to the
RSU are extraordinary items that do not constitute compensation of any kind for services of any kind rendered to the Company, the Employer or any Subsidiary or Affiliate, and is outside the scope of Grantee’s service or employment contract, if
any;

	  	  
 (ii) the RSU and the Shares subject to the
RSU are not intended to replace any pension rights or compensation;

	  	  
 (iii) no claim or entitlement to
compensation or damages shall arise from forfeiture of the RSUs resulting from termination of Grantee’s Service with the Company, the Employer or any Subsidiary or Affiliate (for any reason whatsoever and whether or not in breach of local labor
laws), and in consideration of the grant of the RSUs to which Grantee is otherwise not entitled, Grantee irrevocably agrees never to institute any claim against the Company or the Employer, waive his or her ability, if any, to bring any such
claim, and release the Company and the Employer from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Grantee shall be deemed irrevocably to have
agreed not to pursue such claim and agree to execute any and all documents necessary to request dismissal or withdrawal of such claims; and

	  	  
 (iv) in the event of termination of
Grantee’s Service (whether or not in breach of local labor laws), Grantee’s right to vest in the RSU, if any, will terminate effective as of the date that Grantee is no longer actively employed and will not be extended by any notice period
mandated under local; the Committee shall have the exclusive discretion to determine when Grantee is no longer actively employed for purposes of the RSU.

		
	 14.    Address for Notices
	  	Any notice to be given to the Company under the terms of this Agreement will be addressed to the Company at 1414 Harbour Way South, Richmond, California 94804 U.S.A.,
Attn: Magali Salomon, Equity Manager, Stock Administration, or at such other address as the Company may hereafter designate in writing or electronically.

  
 A-4

			
	 15.    Taxes and Withholding
	  	(a) Regardless of any action the Company or the Employer, if different, takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other
tax-related items related to Grantee’s participation in the Plan and legally applicable to Grantee (“Tax-Related Items”), Grantee acknowledges that the ultimate liability for all Tax-Related
Items is and remains Grantee’s responsibility and may exceed the amount actually withheld by the Company or the Employer. Grantee further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding
the treatment of any Tax-Related Items in connection with any aspect of the RSU, including, but not limited to, the grant, vesting or settlement of the RSU, the issuance of Shares, the subsequent sale of Shares acquired pursuant to such issuance;
and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the RSU to reduce or eliminate Grantee’s liability for Tax-Related Items or achieve any particular tax result. Further, if Grantee has
become subject to tax in more than one jurisdiction between the date of grant and the date of any relevant taxable or tax withholding event, Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be
required to withhold or account for Tax-Related Items in more than one jurisdiction.
		
		  	(b) Prior to any relevant taxable or tax withholding event, as applicable, Grantee will pay or make adequate arrangements satisfactory to the Company and/or the Employer to
satisfy all Tax-Related Items. Unless otherwise determined by the Committee, this Tax-Related Items withholding obligation shall be satisfied by the retention by the Company of Shares otherwise deliverable pursuant to this award; provided,
however, that the Shares retained for payment of the Tax-Related Items must satisfy the minimum tax withholding amount permissible under the method that results in the least amount withheld. If the obligation for Tax-Related Items is
satisfied by withholding in Shares, for tax purposes, Grantee is deemed to have been issued the full number of Shares subject to the vested RSU, notwithstanding that a number of the Shares are held back solely for the purpose of paying the
Tax-Related Items due as a result of any aspect of Grantee’s participation in the Plan.
		
		  	(c) In the alternative and subject to the Committee’s authorization, Grantee agrees that the Company and/or the Employer, or their respective agents, at their discretion,
may satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

  
 A-5

			
		
		  	 (i) withholding from Grantee’s wages or other cash compensation paid to Grantee by the Company, the Employer
and/or any Subsidiary or Affiliate; or
  
 (ii)
withholding from proceeds of the sale of Shares acquired upon vesting/settlement of the RSUs through a voluntary sale.
  
 (d) Grantee shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of Grantee’s participation
in the Plan that cannot be satisfied by the means described in this Section.

		
	 16.    Plan Governs
	  	This Agreement and the Notice of Grant are subject to all terms and provisions of the Plan. In the event of a conflict between one or more provisions of this Agreement or the
Notice of Grant and one or more provisions of the Plan, the provisions of the Plan will govern.
		
	 17.    Committee Authority
	  	The Committee will have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are
consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any RSUs have vested and when Grantee is no longer actively employed for purposes of Grantee’s RSU grant). All
actions taken and all interpretations and determinations made by the Committee in good faith will be final and binding upon the Grantee, the Company and all other interested persons. No member of the Committee will be personally liable for any
action, determination or interpretation made in good faith with respect to the Plan or this Agreement.
		
	 18.    Data Privacy Notice and Consent
	  	This Section 18 (Data Privacy Notice and Consent) applies only if Grantee resides outside the U.S. If Grantee resides outside the U.S., then Grantee hereby explicitly and
unambiguously consents to the collection, use and transfer, in electronic or other form, of Grantee’s personal data as described in this Agreement and any other RSU grant materials by and among, as applicable, the Employer, the Company and its
Subsidiaries for the exclusive purpose of implementing, administering and managing Grantee’s participation in the Plan.

  
 A-6

			
		  	Grantee understands that the Company and the Employer may hold certain personal information about Grantee, including, but not limited to, Grantee’s name, home address
and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all RSUs or any other entitlement to shares of stock awarded,
canceled, exercised, vested, unvested or outstanding in Grantee’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.
		
		  	Grantee understands that Data will be transferred to Smith Barney and any other third party assisting in the implementation, administration and management of the Plan.
Grantee understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than Grantee’s country.
Grantee understands that Grantee may request a list with the names and addresses of any potential recipients of the Data by contacting Grantee’s local human resources representative. Grantee authorizes the Company, Smith Barney and any other
possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of
implementing, administering and managing Grantee’s participation in the Plan. Grantee understands that Data will be held only as long as is necessary to implement, administer and manage Grantee’s participation in the Plan. Grantee
understands that Grantee may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by
contacting in writing Grantee’s local human resources representative. Grantee understands, however, that refusing or withdrawing Grantee’s consent may affect Grantee’s ability to participate in the Plan. For more information on the
consequences of Grantee’s refusal to consent or withdrawal of consent, Grantee understands that Grantee may contact Grantee’s local human resources representative.
		
	19. Amendments	  	Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto; provided, however, that no
amendment shall adversely affect the rights of Grantee in a material way under this Agreement without Grantee’s consent.

  
 A-7

					
	 20.    Severability
	  	If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid or unenforceable, the remainder of this Agreement and
the application of such provision in any other person or circumstances shall not be affected, and the provisions so held to be invalid or unenforceable shall be reformed to the extent (and only to the extent) necessary to make it enforceable and
valid.
		
	 21.    Successors and Assigns
	  	Without limiting Section 8 (Grant is Not Transferable) hereof, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors,
administrators, heirs, legal representatives and assigns of the Grantee, and the successors and assigns of the Company.
		
	 22.    Governing Law & Venue
	  	This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Delaware, without giving effect to any principle of law that
would result in the application of the law of any other jurisdiction. For purposes of litigating any dispute that arises under this grant or this Agreement, the parties hereby submit to and consent to the jurisdiction of the State of California, and
agree that such litigation will be conducted in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this Agreement is made and/or to be
performed.
		
	 23.    No Advice Regarding Award
	  	The Company is not providing any tax, legal or financial advice, nor is the company making any recommendation regarding the Grantee’s participation in the Plan, or the
acquisition or sale of underlying Shares. The Grantee is advised to consult with his or her personal tax, legal, and financial advisors regarding the decision to participate in the Plan before taking any action related to the Plan.
		
	 24.    Electronic Delivery and Participation
	  	The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means. The Grantee hereby consents
to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
		
	 25.    Language
	  	If Grantee has received this Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is
different than the English version, the English version will control.

  
 A-8

					
		
	 26.    Appendix
	  	Notwithstanding any provisions in this Agreement, the RSU grant shall be subject to any special terms and conditions for Grantee’s country of residence, if any, as set forth
in the Appendix to this Agreement. Moreover, if Grantee relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to Grantee, to the extent the Company determines that the application of
such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan. This Appendix constitutes part of this Agreement.
		
	 27.    Imposition of Other Requirements
	  	The Company reserves the right to impose other requirements on Grantee’s participation in the Plan, on the RSU and on any Shares acquired under the Plan, to the extent the
Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require Grantee to sign any additional agreements or undertakings that may be necessary to accomplish the
foregoing.

  
 A-9

 ADDITIONAL TERMS & CONDITIONS OF THE 

RESTRICTED STOCK UNIT AGREEMENT 
 FOR GRANTEES OUTSIDE THE U.S. 
 APPENDIX 

This Appendix includes additional terms and conditions that govern the Restricted Stock Units (“RSUs”) granted to Grantee if
Grantee resides in one of the countries listed herein. This Appendix forms part of the Restricted Stock Unit Agreement (the “Agreement”). 
 This Appendix also includes information regarding exchange controls and certain other issues of which Grantee should be aware with respect to Grantee’s participation in the Plan. The information is
based on the securities, exchange control and other laws in effect in the respective countries as of October 2011. Such laws are often complex and change frequently. As a result, the Company strongly recommends that Grantee not rely on the
information noted herein as the only source of information relating to the consequences of his or her participation in the Plan because the information may be out of date at the time Grantee vests in the RSUs or sells Shares acquired under the Plan.

 In addition, the information contained herein is general in nature and may not apply to Grantee’s particular situation, and the Company
is not in a position to assure Grantee of any particular result. Accordingly, Grantee is advised to seek appropriate professional advice as to how the relevant laws in his or her country may apply to Grantee’s situation. 

Finally, Grantee understands that if he or she is a citizen or resident of a country other than the one in which Grantee is currently working, transfers
employment after the Date of Grant, or is considered a resident of another country for local law purposes, the information contained herein may not apply to Grantee, and the Company shall, in its discretion, determine to what extent the terms and
conditions contained herein shall apply. 
 AUSTRALIA 
 Terms and Conditions 
 Australian Sub-plan. Grantee’s right to
participate in the Plan, vest in the RSUs, and receive the Shares underlying the RSUs granted under the Plan are subject to the terms and conditions stated in the Plan, the Australia Sub-Plan, the Agreement and this Appendix.

  
 Appendix - 1

 Notifications 
 Securities Law Notification. If Grantee acquires Shares under the Plan and he or she offers such Shares for sale to a person or entity resident in Australia, the offer may be subject to disclosure
requirements under Australian law. Grantee should obtain legal advice on his or her disclosure obligations prior to making any such offer. 

BELGIUM 
 Notifications

 Tax Compliance. Grantee is required to report any taxable income attributable to the RSUs on his or her annual tax return. In
addition, Grantee is required to report any bank accounts opened and maintained outside Belgium on his or her annual tax return. 
 CANADA

 Terms and Conditions 
 Payable Only in Shares. Notwithstanding any discretion in the Plan, the grant of RSUs does not provide any right for Grantee to receive a cash payment, and the RSUs are payable only in Shares.

 GERMANY 
 No country-specific
terms apply. 
 GREECE 
 No
country-specific terms apply. 
 ISRAEL 
 Terms and Conditions 
 Trust Arrangement. Grantee understands and agrees that
the RSUs are offered subject to and in accordance with the terms of the Israeli Sub-Plan (the “Sub-Plan”) under the 102 Capital Gains Track (as defined in the Sub-Plan), the Trust Agreement between the trustee
appointed by SunPower Corp Israel Ltd (the “Trustee”), and the Agreement. In the event of any inconsistencies among the Sub-Plan, the Agreement and/or the Plan, the Sub-Plan will govern the RSUs granted to Grantee in
Israel. 

  
 Appendix - 2

 ITALY 
 Terms and Conditions 
 Data Privacy Notice and Consent. This provision
replaces Section 18 (Data Privacy Notice and Consent) of the Agreement: 
 Grantee hereby explicitly and unambiguously consents
to the collection, use, processing and transfer, in electronic or other form, of Grantee’s personal data as described in this section of this Appendix by and among, as applicable, Grantee’s employer (the “Employer”), the Company
and its Subsidiaries or Affiliates for the exclusive purpose of implementing, administering, and managing Grantee’s participation in the Plan. 
 Grantee understands that the Employer, the Company and any Subsidiary or Affiliate may hold certain personal information about Grantee, including, but not limited to, Grantee’s name, home
address and telephone number, date of birth, social insurance or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, a Subsidiary or an Affiliate, details of all RSUs, or any other
entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Grantee’s favor (“Data”), for the exclusive purpose of implementing, managing and administering the Plan. 

Grantee also understands that providing the Company with Data is necessary for the performance of the Plan and that Grantee’s refusal to
provide such Data would make it impossible for the Company to perform its contractual obligations and may affect Grantee’s ability to participate in the Plan. The Controller of personal data processing is SunPower Corporation with registered
offices at 77 Rio Robles, San Jose, California 95134, United States of America, and, pursuant to Legislative Decree no. 196/2003, its representative in Italy is SunPower Italia s.r.l. with registered offices at Via Vittime Civili di Guerra, 5 Faenza
(RA), 48018, Italy. 
 Grantee understands that Data will not be publicized, but it may be transferred to Smith Barney or other
third parties involved in the management and administration of the Plan. Grantee understands that Data may also be transferred to the independent registered public accounting firm engaged by the Company. Grantee further understands that the Company,
and/or any Subsidiary or Affiliate will transfer Data among themselves as necessary for the purpose of implementing, administering and managing Grantee’s participation in the Plan, and that the Company, a Subsidiary or an Affiliate may each
further transfer Data to third parties assisting the Company in the implementation, administration, and management of the Plan, including any requisite transfer of Data to Smith Barney or other third party with whom Grantee may elect to deposit any
Shares acquired at vesting of the RSUs. Such recipients may receive, possess, use, retain, and transfer Data in electronic or other form, for the purposes of implementing, administering, and managing Grantee’s participation in the Plan. Grantee
understands that these recipients may be located in or outside the European Economic Area, such as in the United States or elsewhere. Should the Company exercise its discretion in suspending all necessary legal obligations connected with the
management and administration of the Plan, it will delete Data as soon as it has completed all the necessary legal obligations connected with the management and administration of the Plan. 

  
 Appendix - 3

 Grantee understands that Data processing related to the purposes specified above shall take place
under automated or non-automated conditions, anonymously when possible, that comply with the purposes for which Data is collected and with confidentiality and security provisions, as set forth by applicable laws and regulations, with specific
reference to Legislative Decree no. 196/2003. 
 The processing activity, including communication, the transfer of Data abroad,
including outside the European Economic Area, as herein specified and pursuant to applicable laws and regulations, does not require Grantee’s consent thereto, as the processing is necessary to performance of contractual obligations related to
implementation, administration, and management of the Plan. Grantee understands that, pursuant to Section 7 of the Legislative Decree no. 196/2003, Grantee has the right to, including but not limited to, access, delete, update, correct, or
terminate, for legitimate reason, the Data processing. 
 Furthermore, Grantee is aware that Data will not be used for
direct-marketing purposes. In addition, Data provided can be reviewed and questions or complaints can be addressed by contacting Grantee’s local human resources representative. 
 Terms of Grant. By accepting the Award, Grantee acknowledges that (1) Grantee has received a copy of the Plan, the Agreement and this Appendix; (2) Grantee has reviewed those documents in
their entirety and fully understands the contents thereof; and (3) Grantee accepts all provisions of the Plan, the Agreement and this Appendix. Grantee further acknowledges that Grantee has read and specifically and expressly approves, without
limitation, the following sections of the Agreement: Section 13 (Nature of Grant); Section 15 (Taxes and Withholding); Section 22 (Governing Law and Venue); Section 25 (Language); Section 18 (Data Privacy Notice and Consent)
as replaced by the above consent. 
 Notice of Sale. If Grantee sells or otherwise disposes of Shares within three years from the
respective date of vest, Grantee is required to submit a signed original Notice of Sale to Grantee’s local human resource department within 15 days from the date of sale or disposition. The Company will make a Notice of Sale available to
Grantee. 

  
 Appendix - 4

 Notifications 
 Additional Tax/Exchange Control Notification. Grantee is required to report the following on his or her annual tax return: (1) any transfers of cash or shares to or from Italy exceeding
€10,000, (2) any foreign investments or investments held outside Italy at the end of the calendar year exceeding €10,000 if such investments (cash or shares) may result in income taxable in Italy, and (3) the amount of the
transfers to and from abroad which have had an impact on Grantee’s foreign investments or investments held outside Italy during the calendar year. Under certain circumstances, Grantee may be exempt from requirement under (1) above if the
transfer or investment is made through an authorized broker resident in Italy. 
 INDIA 

Notifications 
 Exchange Control
Notification. Grantee understands that he or she must repatriate any proceeds from the sale of Shares acquired under the Plan to India and convert the proceeds into local currency within 90 days of receipt. Grantee will receive a foreign inward
remittance certificate (“FIRC”) from the bank where Grantee deposits the foreign currency. Grantee should maintain the FIRC as evidence of the repatriation of funds in the event the Reserve Bank of India or the Employer requests
proof of repatriation. 
 JAPAN 

Notifications 
 Exchange Control
Notification. If Grantee intends to acquire Shares whose value exceeds ¥30,000,000 in a single transaction, then Grantee must file a Payment Report with the Ministry of Finance. If Grantee intends to acquire Shares whose value exceeds
¥100,000,000 in a single transaction, then Grantee must file a Securities Acquisition Report, in addition to the Payment Report, with the Ministry of Finance through the Bank of Japan within 20 days of receiving the Shares. 

KOREA 
 Notifications

 Exchange Control Notification. Exchange control laws require Korean residents who realize US$500,000 or more from the sale of
Shares to repatriate the proceeds to Korea within 18 months of the sale. 

  
 Appendix - 5

 MALAYSIA 
 Notifications 
 Director Notification. If Grantee is a director of a
subsidiary or other related company in Malaysia, Grantee is subject to certain notification requirements under the Malaysian Companies Act, 1965. Among these requirements is an obligation to notify the Malaysian Subsidiary in writing when Grantee
receives an interest (e.g., RSUs, Shares) in the Company or any related companies. In addition, Grantee must notify the Malaysian Subsidiary when Grantee sells Shares of the Company or any related company (including when Grantee sell Shares acquired
under the Plan). These notifications must be made within fourteen days of acquiring or disposing of any interest in the Company or any related company. 
 Insider Trading Notification. Grantee should be aware of the Malaysian insider trading rules, which may impact Grantee’s acquisition or disposal of Shares or RSUs under the Plan. Under
Malaysian insider trading rules, Grantee is prohibited from acquiring or selling Shares or rights to shares (e.g., RSUs) when in possession of information that is not generally available and that Grantee knows or should know will have a material
effect on the price of Shares once such information is generally available. 
 MALTA 

Notifications 
 Securities Law
Notification. The Plan, the Agreement, including this Appendix, and all other materials Grantee may receive regarding participation in the Plan do not constitute advertising of securities in Malta. Further, Grantee’s electronic acceptance
of the terms of the Agreement, including this Appendix, is through the website of the Company’s broker, Smith Barney, which is located in the United States. 
 In no event will Shares issued upon settlement of the RSUs be delivered to Grantee in Malta. All Shares issued upon settlement of the RSUs will be maintained on Grantee’s behalf in the United States.

  
 Appendix - 6

 MEXICO 
 Terms and Conditions 
 Labor Law Acknowledgement. These provisions supplement
Section 13 of the Agreement: 
 Modification. By accepting the RSUs, Grantee understands and agrees that any
modification of the Plan or the Agreement or its termination shall not constitute a change or impairment of the terms and conditions of employment. 
 Policy Statement. The Award of RSUs the Company is making under the Plan is unilateral and discretionary and, therefore, the Company reserves the absolute right to amend it and discontinue
it at any time without any liability. 
 The Company, with registered offices at 77 Rio Robles, San Jose, California 95134 U.S.A., is solely
responsible for the administration of the Plan and participation in the Plan and the acquisition of Shares does not, in any way, establish an employment relationship between Grantee and the Company since Grantee is participating in the Plan on a
wholly commercial basis and the sole employer is SunPower Corporation Mexico, S. de R.L. de C.V.and nor does it establish any rights between Grantee and the Employer. 
 Plan Document Acknowledgment. By accepting the Award of RSUs, Grantee acknowledges that Grantee has received copies of the Plan, has reviewed the Plan and the Agreement in their entirety and fully
understands and accepts all provisions of the Plan and the Agreement. 
 In addition, Grantee further acknowledges that Grantee has read and
specifically and expressly approves the terms and conditions in the Nature of Grant, Section 13 of the Agreement, in which the following is clearly described and established: (i) participation in the Plan does not constitute an acquired
right; (ii) the Plan and participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) the Company and any Subsidiary or Affiliate are not responsible for
any decrease in the value of the Shares underlying the RSUs. 
 Finally, Grantee hereby declares that Grantee does not reserve any action or
right to bring any claim against the Company for any compensation or damages as a result of Grantee’s participation in the Plan and therefore grants a full and broad release to the Employer, the Company and any Subsidiary or Affiliate with
respect to any claim that may arise under the Plan. 
 Spanish Translation 
 Reconocimiento de la Ley Laboral. Estas disposiciones complementan el apartado 13 del Acuerdo: 
 Modification. Al aceptar las RSUs, el Beneficiario reconoce y acuerda que cualquier modificación del Plan o su terminación no constituye un cambio o desmejora de los
términos y condiciones de empleo. 
 Declaración de Política. El Otorgamiento de RSUs de la
Compañía en virtud del Plan es unilateral y discrecional y, por lo tanto, la Compañía se reserva el derecho absoluto de modificar y discontinuar el mismo en cualquier tiempo, sin responsabilidad alguna. 

  
 Appendix - 7

 La Compañía, con oficinas registradas ubicadas 77 Rio Robles, San Jose, California 95134
EE.UU., es la única responsable de la administración del Plan y de la participación en el mismo y la adquisición de Acciones no establece de forma alguna una relación de trabajo entre el Beneficiario y la
Compañía, ya que su participación en el Plan es completamente comercial y el único empleador es SunPower Corporation Mexico, S. de R.L. de C.V en caso de ser aplicable, así como tampoco establece ningún
derecho entre la persona que tenga el derecho a optar y el Empleador. 
 Reconocimiento del Documento del Plan. Al aceptar el
Otorgamiento de las RSUs, el Beneficiario reconoce que ha recibido copias del Plan, ha revisado el mismo, al igual que la totalidad del Acuerdo y, que ha entendido y aceptado completamente todas las disposiciones contenidas en el Plan y en el
Acuerdo. 
 Adicionalmente, reconoce que ha leído, y que aprueba específica y expresamente los términos y
condiciones contenidos en la Renuncia de Derecho o Reclamo por Compensación, apartado 13 del Acuerdo, en el cual se encuentra claramente descrito y establecido lo siguiente: (i) la participación en el Plan no constituye un
derecho adquirido; (ii) el Plan y la participación en el mismo es ofrecida por la Compañía de forma enteramente discrecional; (iii) la participación en el Plan es voluntaria; y (iv) la
Compañía, así como su Subsidiaria o Filiales no son responsables por cualquier disminución en el valor de las Acciones en relación a las RSUs. 
 Finalmente, declara que no se reserva ninguna acción o derecho para interponer una demanda en contra de la Compañía por compensación, daño o perjuicio alguno como
resultado de su participación en el Plan y, en consecuencia, otorga el más amplio finiquito al Empleador, así como a la Compañía, a su Subsidiaria o Filiales con respecto a cualquier demanda que pudiera
originarse en virtud del Plan. 
 PHILIPPINES 
 Notifications 
 Securities Law Notification. The sale or disposal of Shares
acquired under the Plan may be subject to certain restrictions under Philippines securities laws. Those restrictions should not apply if the offer and resale of Shares takes place outside the Philippines through the facilities of a stock exchange on
which the Shares are listed. The Shares are currently listed on the NASDAQ Global Select Market. The Company’s designated broker should be able to assist you in the sale of Shares on the NASDAQ Global Select Market. Please consult with your
legal advisor if you have questions with regard to the application of Philippines securities laws to the disposal or sale of Shares you acquired under the Plan. 

  
 Appendix -8

 PORTUGAL 
 Notifications 
 Exchange Control Notification. If Grantee acquires Shares
under the Plan and does not hold the Shares with a Portuguese financial intermediary, Grantee may need to file a report with the Portuguese Central Bank. If the Shares are held by a Portuguese financial intermediary, it will file the report for
Grantee. 
 SOUTH AFRICA 

Terms and Conditions 
 Taxes and
Withholding. The following supplements Section 15 of the Agreement: 
 By accepting the RSUs, Grantee agrees that, immediately upon
vesting of the RSUs, Grantee will notify the Employer of the amount of any gain realized. If Grantee fails to advise the Employer of the gain realized upon vesting, Grantee may be liable for a fine. 

Notifications 
 Exchange
Control Notification. To participate in the Plan, Grantee must comply with exchange control rules in South Africa and neither the Company nor the Employer will be liable for any fines or penalties resulting from Grantee’s failure to comply
with applicable laws. The RSUs and the underlying shares of Stock should not count towards the ZAR4,000,000 offshore investment limit as Grantee does not pay anything to receive them. However, because the exchange control regulations are subject to
change, Grantee should consult Grantee’s personal advisor prior to vesting of RSUs to ensure compliance with current regulations.  

SPAIN 
 Terms and Conditions

 Labor Law Acknowledgement. The following provision supplements Section 13 (Nature of Grant) of the Agreement: 

In accepting the RSUs, Grantee consents to participation in the Plan and has received a copy of the Plan and the Agreement. Grantee understands and
agrees that, as a condition of the grant of the RSUs, upon termination of Grantee’s Service for any reason (including for the reasons listed below) prior to the vesting date will automatically result in the loss of the unvested RSUs that may
have been granted to Grantee. In particular, Grantee understands and agrees that any unvested RSUs shall be forfeited without entitlement to the underlying Shares or to any amount as indemnification in the event of a termination of Grantee’s
Service, including, but not limited to: resignation, disciplinary dismissal adjudged to be with cause, disciplinary dismissal adjudged or recognized to be without cause, individual or collective layoff on objective grounds, whether adjudged to be
with cause or adjudged or recognized to be without cause, material modification of the terms of employment under Article 41 of the Workers’ Statute, relocation under Article 40 of the Workers’ Statute, Article 50 of the Workers’
Statute, unilateral withdrawal by the Employer, and under Article 10.3 of Royal Decree 1382/1985. 

  
 Appendix - 9

 Grantee understands that the Company has unilaterally, gratuitously and discretionally decided to grant
RSUs under the Plan to eligible Employees, Consultants, or Outside Directors throughout the world. The decision is limited and entered into based upon the express assumption and condition that any RSUs will not economically or otherwise bind the
Company or any Subsidiary or Affiliate, including the Employer, on an ongoing basis, other than as expressly set forth in the Agreement. Consequently, Grantee understands that the RSUs are granted on the assumption and condition that the RSUs shall
not become part of any employment contract (whether with the Company or any Subsidiary or Affiliate, including the Employer) and shall not be considered a mandatory benefit, salary for any purpose (including severance compensation) or any other
right whatsoever. Furthermore, Grantee understands and freely accepts that there is no guarantee that any benefit whatsoever shall arise from the grant of the RSUs, which is gratuitous and discretionary, since the future value of the RSUs and the
underlying Shares is unknown and unpredictable. Grantee also understands that the grant of the RSUs would not be made but for the assumptions and conditions referred to above; thus, Grantee understands, acknowledges and freely accepts that, should
any or all of the assumptions be mistaken or any of the conditions not be met for any reason, the RSUs and any right to the underlying Shares shall be null and void. 
 Notifications 
 Exchange Control Notification. To participate in the Plan,
Grantee must comply with exchange control regulations in Spain. The acquisition and sale of Shares must be declared for statistical purposes to the Dirección General de Comercio e Inversiones (the “DGCI”) of the
Ministry of Industry, Tourism and Commerce. Because Grantee will not purchase or sell the Shares through the use of a Spanish financial institution, Grantee must make the declaration him- or herself by filing a D-6 form with the DGCI. Generally, the
D-6 form must be filed each January while the Shares are owned or to report the sale of Shares. 
 When receiving foreign currency payments
derived from the ownership of Shares (i.e., dividends or sale proceeds) exceeding €50,000, Grantee must inform the financial institution receiving the payment of the basis upon which such payment is made. Grantee will need to provide the
institution with the following information: (i) Grantee’s name, address, and fiscal identification number; (ii) the name and corporate domicile of the Company; (iii) the amount of the payment; (iv) the currency used;
(v) the country of origin; (vi) the reasons for the payment; and (vii) any further information that may be required. 

  
 Appendix - 10

 Securities Law Notification. No “offer of securities to the public”, as defined under
Spanish law, has taken place or will take place in the Spanish territory with respect to the RSU. No public offering prospectus has been, nor will it be registered with the Comisión Nacional del Mercado de Valores (Spanish Securities
Exchange Commission) (“CNMV”). Neither the Plan nor the Agreement constitute a public offering prospectus and they have not been, nor will they be, registered with the CNMV. 

SWITZERLAND 
 Notifications

 Securities Law Information. The offer of the RSUs is considered a private offering in Switzerland and is therefore not subject
to securities registration in Switzerland. 
 UNITED ARAB EMIRATES 
 Notifications 
 Securities Law Notification. The Plan is only being offered to
qualified employees and is in the nature of providing equity incentives to employees of the Company or a Subsidiary residing or working in the United Arab Emirates. 
 UNITED KINGDOM 
 Terms and Conditions 

Taxes and Withholding. The following supplements Section 15 of the Agreement: 
 If payment or withholding of the taxes is not made within ninety (90) days of the event giving rise to the taxes or such other period specified in Section 222(1)(c) of the U.K. Income Tax
(Earnings and Pensions) Act 2003 (the “Due Date”), the amount of any uncollected taxes shall constitute a loan owed by Grantee to the Employer, effective as of the Due Date. Grantee agrees that the loan will bear interest at
the then-current official rate of Her Majesty’s Revenue & Customs (“HMRC”), it will be immediately due and repayable, and the Company or the Employer may recover it at any time thereafter by any of the means
referred to in Section 15 of the Agreement. 

  
 Appendix - 11

 Notwithstanding the foregoing, if Grantee is a director or executive officer of the Company (within the
meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended), Grantee shall not be eligible for a loan from the Company to cover the taxes due. In the event that Grantee is a director or executive officer and taxes are
not collected from or paid by Grantee by the Due Date, the amount of any uncollected taxes will constitute a benefit to Grantee on which additional income tax and National Insurance contributions (“NICs”) (including Employer
NICs, as defined below) will be payable. Grantee understands that he or she will be responsible for reporting any income tax and NICs (including the Employer NICs, as defined below) due on this additional benefit directly to HMRC under the
self-assessment regime. 
 Payable Only in Shares. Notwithstanding any discretion in the Plan, the grant of RSUs does not provide any
right for Grantee to receive a cash payment, and the RSUs are payable only in Shares. 
 Joint Election for Transfer of the Employer’s
Secondary Class 1 NICs Liability to the Grantee. As a condition of participation in the Plan and the vesting of the RSUs, Grantee agrees to accept any liability for secondary Class 1 NICs which may be payable by the Company and/or the Employer
in connection with the RSUs and any event giving rise to Tax-Related Items (the “Employer NICs”). Without limitation to the foregoing, Grantee agrees to enter into an election between himself/herself and the Company or the
Employer in the form approved by HMRC (the “Joint Election”) and any other consent or election required to accomplish the transfer of Employer NICs to Grantee. Grantee understands that the Joint Election applies to any RSU
granted to him/her under the Plan after the execution of the Joint Election. Grantee further agrees to execute such other joint elections as may be required between him/her and any successor to the Company and/or the Employer. Grantee further agrees
that the Company and/or the Employer may collect the Employer NICs from him or her by any of the means set forth in Section 15 of the Agreement. 
 If Grantee does not enter into a Joint Election prior to vesting of the RSUs, he/she will not be entitled to vest in the RSUs unless and until he/she enters into a Joint Election and no Shares will be
issued to Grantee under the Plan, without any liability to the Company and/or the Employer. 

  
 Appendix - 12Indenture

 Exhibit 4.1 
 PEABODY ENERGY CORPORATION 
 6.00% SENIOR NOTES DUE 2018 

6.25% SENIOR NOTES DUE 2021 
 INDENTURE 
 Dated as of November 15, 2011 

U.S. BANK NATIONAL ASSOCIATION 
 Trustee 

 TABLE OF CONTENTS 

 

							
	  	 	 	  	Page	 
	 ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
	 Section 1.01.
	 	Definitions	  	 	1	  
	 Section 1.02.
	 	Other Definitions	  	 	10	  
	 Section 1.03.
	 	Incorporation by Reference of Trust Indenture Act	  	 	10	  
	 Section 1.04.
	 	Rules of Construction	  	 	10	  
	 ARTICLE II THE NOTES
	  	 	11	  
	 Section 2.01.
	 	Form and Dating	  	 	11	  
	 Section 2.02.
	 	Execution and Authentication	  	 	12	  
	 Section 2.03.
	 	Registrar and Paying Agent	  	 	13	  
	 Section 2.04.
	 	Paying Agent to Hold Money in Trust	  	 	13	  
	 Section 2.05.
	 	Holder Lists	  	 	13	  
	 Section 2.06.
	 	Transfer and Exchange	  	 	13	  
	 Section 2.07.
	 	Treasury Notes	  	 	23	  
	 Section 2.08.
	 	Replacement Notes	  	 	23	  
	 Section 2.09.
	 	Temporary Notes	  	 	23	  
	 Section 2.10.
	 	Cancellation	  	 	23	  
	 Section 2.11.
	 	Defaulted Interest	  	 	23	  
	 Section 2.12.
	 	CUSIP, ISIN and Common Code Numbers	  	 	24	  
	 Section 2.13.
	 	Computation of Interest	  	 	24	  
	 ARTICLE III REDEMPTION AND PREPAYMENT
	  	 	24	  
	 Section 3.01.
	 	Notices to Trustee	  	 	24	  
	 Section 3.02.
	 	Selection of Notes to be Redeemed	  	 	24	  
	 Section 3.03.
	 	Notice of Redemption	  	 	25	  
	 Section 3.04.
	 	Effect of Notice of Redemption	  	 	25	  
	 Section 3.05.
	 	Deposit of Redemption Price	  	 	25	  
	 Section 3.06.
	 	Notes Redeemed in Part	  	 	26	  
	 Section 3.07.
	 	Optional Redemption	  	 	26	  
	 ARTICLE IV COVENANTS
	  	 	26	  
	 Section 4.01.
	 	Payment of Notes	  	 	26	  
	 Section 4.02.
	 	Maintenance of Office or Agency	  	 	26	  
	 Section 4.03.
	 	Compliance Certificate	  	 	27	  
	 Section 4.04.
	 	Taxes	  	 	27	  
	 Section 4.05.
	 	Stay, Extension and Usury Laws	  	 	27	  
	 Section 4.06.
	 	Liens	  	 	28	  
	 Section 4.07.
	 	Corporate Existence	  	 	29	  
	 Section 4.08.
	 	Offer To Repurchase Upon Change of Control Triggering Event	  	 	29	  
	 Section 4.09.
	 	Additional Subsidiary Guarantees	  	 	30	  
	 Section 4.10.
	 	Limitation on Sale and Lease-Back Transactions	  	 	30	  
	 ARTICLE V CONSOLIDATION, MERGER, SALE, CONVEYANCE OR LEASE
	  	 	31	  
	 Section 5.01.
	 	Consolidations and Mergers of Company and Conveyances Permitted Subject to Certain Conditions	  	 	31	  
	 Section 5.02.
	 	Rights and Duties of Successor Corporation	  	 	31	  
	 Section 5.03.
	 	Officers’ Certificate and Opinion of Counsel	  	 	32	  
	 ARTICLE VI DEFAULTS AND REMEDIES
	  	 	32	  
	 Section 6.01.
	 	Events of Default	  	 	32	  
	 Section 6.02.
	 	Acceleration	  	 	33	  
	 Section 6.03.
	 	Other Remedies	  	 	33	  
	 Section 6.04.
	 	Waiver of Past Defaults	  	 	33	  
	 Section 6.05.
	 	Control by Majority	  	 	34	  
	 Section 6.06.
	 	Limitation on Suits	  	 	34	  
	 Section 6.07.
	 	Rights of Holders of Notes to Receive Payment	  	 	34	  
	 Section 6.08.
	 	Collection Suit by Trustee	  	 	34	  

  
 i 

							
	 Section 6.09.
	 	Trustee May File Proofs of Claim	  	 	35	  
	 Section 6.10.
	 	Priorities	  	 	35	  
	 Section 6.11.
	 	Undertaking for Costs	  	 	35	  
	 ARTICLE VII TRUSTEE
	  	 	36	  
	 Section 7.01.
	 	Certain Duties and Responsibilities of Trustee	  	 	36	  
	 Section 7.02.
	 	Notice of Defaults	  	 	36	  
	 Section 7.03.
	 	Certain Rights of Trustee	  	 	37	  
	 Section 7.04.
	 	Not Responsible for Recitals or Issuance of Notes	  	 	38	  
	 Section 7.05.
	 	May Hold Notes	  	 	38	  
	 Section 7.06.
	 	Money Held in Trust	  	 	38	  
	 Section 7.07.
	 	Compensation and Reimbursement	  	 	38	  
	 Section 7.08.
	 	Disqualification; Conflicting Interests	  	 	39	  
	 Section 7.09.
	 	Corporate Trustee Required; Eligibility	  	 	39	  
	 Section 7.10.
	 	Resignation and Removal; Appointment of Successor	  	 	39	  
	 Section 7.11.
	 	Acceptance of Appointment by Successor	  	 	41	  
	 Section 7.12.
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	41	  
	 Section 7.13.
	 	Preferential Collection of Claims Against Company	  	 	41	  
	 Section 7.14.
	 	Appointment of Authenticating Agent	  	 	44	  
	 Section 7.15.
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	45	  
	 Section 7.16.
	 	Preservation of Information; Communications to Holders	  	 	45	  
	 Section 7.17.
	 	Reports by Trustee to Holders of Notes	  	 	46	  
	 Section 7.18.
	 	Reports by Company	  	 	47	  
	 ARTICLE VIII LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	47	  
	 Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	47	  
	 Section 8.02.
	 	Legal Defeasance and Discharge	  	 	48	  
	 Section 8.03.
	 	Covenant Defeasance	  	 	48	  
	 Section 8.04.
	 	Conditions to Legal or Covenant Defeasance	  	 	48	  
	 Section 8.05.
	 	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	  	 	49	  
	 Section 8.06.
	 	Repayment to Company	  	 	50	  
	 Section 8.07.
	 	Reinstatement	  	 	50	  
	 ARTICLE IX AMENDMENT, SUPPLEMENT AND WAIVER
	  	 	50	  
	 Section 9.01.
	 	Without Consent of Holders of Notes	  	 	50	  
	 Section 9.02.
	 	With Consent of Holders of Notes	  	 	51	  
	 Section 9.03.
	 	Compliance with Trust Indenture Act	  	 	52	  
	 Section 9.04.
	 	Revocation and Effect of Consents	  	 	52	  
	 Section 9.05.
	 	Notation on or Exchange of Notes	  	 	52	  
	 Section 9.06.
	 	Trustee to Sign Amendments, Etc.	  	 	53	  
	 ARTICLE X SUBSIDIARY GUARANTEES
	  	 	53	  
	 Section 10.01.
	 	Guarantee	  	 	53	  
	 Section 10.02.
	 	Limitation on Subsidiary Guarantor Liability	  	 	54	  
	 Section 10.03.
	 	Execution and Delivery of Subsidiary Guarantee	  	 	54	  
	 Section 10.04.
	 	Subsidiary Guarantors May Consolidate,	  	 	55	  
	 Section 10.05.
	 	Etc., on Certain Terms	  	 	55	  
	 Section 10.05.
	 	Releases of Subsidiary Guarantee	  	 	55	  
	 ARTICLE XI SATISFACTION AND DISCHARGE
	  	 	56	  
	 Section 11.01.
	 	Satisfaction and Discharge of Indenture	  	 	56	  
	 Section 11.02.
	 	Application of Trust Money	  	 	56	  
	 ARTICLE XII MISCELLANEOUS
	  	 	57	  
	 Section 12.01.
	 	Trust Indenture Act Controls	  	 	57	  
	 Section 12.02.
	 	Notices	  	 	57	  
	 Section 12.03.
	 	Communication by Holders of Notes with Other Holders of Notes	  	 	58	  
	 Section 12.04.
	 	Certificate and Opinion as to Conditions Precedent	  	 	58	  
	 Section 12.05.
	 	Statements Required in Certificate or Opinion	  	 	58	  
	 Section 12.06.
	 	Rules by Trustee and Agents	  	 	58	  
	 Section 12.07.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	  	 	59	  

  
 ii 

							
	 Section 12.08.
	 	Governing Law	  	 	59	  
	 Section 12.09.
	 	No Adverse Interpretation of Other Agreements	  	 	59	  
	 Section 12.10.
	 	Successors	  	 	59	  
	 Section 12.11.
	 	Severability	  	 	59	  
	 Section 12.12.
	 	Counterpart Originals	  	 	59	  
	 Section 12.13.
	 	Table of Contents, Headings, Etc.	  	 	59	  
	 Section 12.14.
	 	Electronic Means	  	 	59	  
			
	 EXHIBITS
	 		  			
			
	 Exhibit A-1
	 	FORM OF 2018 NOTE	  			
	 Exhibit A-2
	 	FORM OF 2021 NOTE	  			
	 Exhibit B
	 	FORM OF CERTIFICATE OF TRANSFER	  			
	 Exhibit C
	 	FORM OF CERTIFICATE OF EXCHANGE	  			
	 Exhibit D
	 	FORM OF NOTATION OF SUBSIDIARY GUARANTEE	  			
	 Exhibit E
	 	FORM OF SUPPLEMENTAL INDENTURE	  			
			
	 SCHEDULES
	 		  			
			
	 Schedule I
	 	Schedule of Subsidiary Guarantors	  			

  
 iii

 INDENTURE dated as of November 15, 2011 (the “Indenture”) among
Peabody Energy Corporation, a Delaware corporation (the “Company”), the subsidiary guarantors named on Schedule I hereto and U.S. Bank National Association, as Trustee (the “Trustee”). 

RECITALS OF THE COMPANY AND THE SUBSIDIARY GUARANTORS 
 The Company has duly authorized the creation of an issue of (A)(i) a series of 6.00% Senior Notes due 2018 issued on the date hereof (the “Initial 2018 Notes”), (ii) any
additional 2018 Notes (“2018 Additional Notes”) that may be issued in accordance with Section 2.02 and (iii) any 6.00% Senior Notes due 2018 that may be issued pursuant to the Registration Rights Agreement (as
defined herein) in exchange for any Initial 2018 Notes or 2018 Additional Notes (the “2018 Exchange Notes”) and (B)(i) a series of 6.25% Senior Notes due 2021 issued on the date hereof (the “Initial 2021
Notes” and, together with the Initial 2018 Notes, the “Initial Notes”), (ii) any additional 2021 Notes (“2021 Additional Notes” and together with the 2018 Additional Notes, the
“Additional Notes”) that may be issued in accordance with Section 2.02 and (iii) any 6.25% Senior Notes due 2021 that may be issued pursuant to the Registration Rights Agreement in exchange for any Initial 2021
Notes or 2021 Additional Notes (the “2021 Exchange Notes” and together with the 2018 Exchange Notes, the “Exchange Notes,” and together with the Initial 2018 Notes, any 2018 Additional Notes, 2018
Exchange Notes, Initial 2021 Notes and any 2021 Additional Notes, the “Notes”). The Initial 2018 Notes (together with any 2018 Additional Notes and 2018 Exchange Notes, the “2018 Notes”) and the
Initial 2021 Notes (together with any 2021 Additional Notes and 2021 Exchange Notes, the “2021 Notes”) are each referred to herein as a “series.” 

Upon the issuance of the Exchange Notes, if any, or the effectiveness of the Exchange Offer Registration Statement (as defined herein)
or, under certain circumstances, the effectiveness of the Shelf Registration Statement (as defined herein), this Indenture shall be subject to, and shall be governed by, the provisions of the Trust Indenture Act that are required to be part of this
Indenture and shall to the extent applicable be governed by such provisions. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of the Notes, as follows: 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 1.01. Definitions. 
 “144A Global
Note” means a Global Note substantially in the form of Exhibit A-1 (in the case of the 2018 Notes) and Exhibit A-2 (in the case of the 2021 Notes) bearing the Global Note Legend and the Private Placement Legend and deposited with
or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the 2018 Notes or the 2021 Notes, as the case may be, sold in reliance on Rule 144A.

 “Additional Interest” has the meaning set forth in Exhibit A-1 (in the case of the 2018 Notes) and
Exhibit A-2 (in the case of the 2021 Notes). 
 “Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,”
“controlled by” and “under common control with”), as used with respect to any Person, shall mean 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. 
 “Agent” means any Registrar,
Paying Agent or co-Registrar. 

  

 “Applicable Procedures” means, with respect to any transfer or exchange of
or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer, redemption or exchange. 
 “Attributable Debt” means, in respect of a Sale and Lease-Back Transaction, at the time of determination, the present value (discounted at a rate per annum equivalent to the rate inherent
in such lease (as determined in good faith by the Company), compounded semiannually) of the obligation of the lessee for rental payments during the remaining term of the lease included in such transaction, including any period for which such lease
had been extended or may, at the option of the lessor, be extended or, if earlier, until the earliest date on which the lessee may terminate such lease upon payment of a penalty (in which case the obligation of the lessee for rental payments will
include such penalty), after excluding all amounts required to be paid on account of maintenance and repairs, insurance, taxes, assessments, water and utility rates and similar charges. 

“Authenticating Agent” means any authenticating agent appointed by the Trustee pursuant to Section 7.14.

 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of
debtors. 
 “Board of Directors” means the board of directors of the Company or any duly authorized committee
of that board or any director or directors and/or officer or officers of the Company to whom that board or committee shall have duly delegated its authority. 
 “Board Resolution” means (1) 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, or (2) a certificate signed by the director or directors and/or officer or officers to whom the Board of Directors or any duly authorized committee of that board shall have duly
delegated its authority, in each case delivered to the Trustee for the Notes of any series. 
 “Broker-Dealer”
has the meaning set forth in the Registration Rights Agreement. 
 “Business Day” means any day that is not a
Legal Holiday. 
 “Capital Stock” means (i) in the case of a corporation, corporate stock, (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. 

“Change of Control” means the occurrence of any of the following: (i) the sale, lease, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole to any
“person” (as such term is used in Section 13(d)(3) of the Exchange Act) other than a Principal or a Related Party of a Principal (as defined below), (ii) the adoption of a plan relating to the liquidation or
dissolution of the Company, or (iii) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as defined above), other than the Principals
and their Related Parties, becomes the “beneficial owner” (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Voting Stock of the Company
(measured by voting power rather than number of shares). 
 Notwithstanding the foregoing, a transaction effected to create a
holding company will not be deemed to involve a Change of Control if (i) the Company becomes a direct or indirect wholly-owned subsidiary of such holding company and (ii) the holders of the voting stock of such holding company immediately
following that transaction are substantially the same as the holders of our voting stock immediately prior to that transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Decline with respect
to the Notes. 

  
 2 

 “Clearstream” means Clearstream Banking S.A. and any successor thereto.

 “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, the President or a Vice President (any reference to a Vice President of the Company herein shall be deemed to include any Vice President of the Company whether or not designated by a number or
a word or words added before or after the title “Vice President”), and by the Chief Financial Officer, Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary of the Company, and
delivered to the Trustee. 
 “Comparable Treasury Issue” means U.S. Treasury security or securities selected by
the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the remaining term of those Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury
Dealer Quotations for that redemption date after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (2) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, then the average of the
available Reference Treasury Dealer Quotations for the redemption date, or (3) if only one is available on that date, then that Reference Treasury Dealer Quotation. 
 “Consolidated Net Tangible Assets” means, as of any particular time, the total of all the assets appearing on the most recent consolidated balance sheet prepared in accordance with GAAP
of the Company and its Subsidiaries as of the end of the last fiscal quarter for which financial information is available (less applicable reserves and other properly deductible items) after deducting from such amount: 

(a) all current liabilities, including current maturities of long-term debt and current maturities of obligations under capital leases
(other than any portion thereof maturing after, or renewable or extendable at the option of the Company or the relevant Subsidiary beyond, twelve months from the date of determination); and 

(b) the total of the net book values of all assets of the Company and its Subsidiaries properly classified as intangible assets under GAAP
(including goodwill, trade names, trademarks, patents, unamortized debt discount and expense and other like intangible assets). 

“Corporate Trust Office of the Trustee” shall be for purposes of surrender for registration of transfer or exchange of
Notes the offices of the Trustee located at 100 Wall Street, Suite 1600, New York, New York, 10005 and for all other purposes shall be the office of the Trustee at 225 Asylum Street, 23rd Floor, Hartford, CT 06103. 

“Credit Agreement” means that certain Credit Agreement, dated as of June 18, 2010 by and among the Company, as
borrower, Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and Banc of America Securities LLC, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc., as joint lead arrangers and joint book
managers and the other lenders party thereto, including any related notes, guarantees, collateral documents, letters of credit, instruments and agreements executed in connection therewith (and any appendices, annexes, exhibits or schedules to any of
the foregoing), and in each case as amended, restated, amended and restated, modified, supplemented, renewed, refunded, replaced, restructured, repaid or refinanced from time to time (whether with the original agents, arrangers and lenders or other
agents, arrangers and lenders or otherwise, whether provided under the original credit agreement or other Credit Facilities or otherwise, whether for a greater or lesser principal amount, whether with greater or lesser interest and fees and whether
or not including collateral or guarantors). Indebtedness under the Credit Agreement outstanding on the date on which Notes are first issued and authenticated under this Indenture shall be deemed to have been incurred on such date. 

“Credit Facilities” means, with respect to the Company or any of its Restricted Subsidiaries, one or more debt
facilities (including, without limitation, the Credit Agreement) or commercial paper facilities with banks or other institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit, in each case, as amended, restated, amended and restated, modified, supplemented, renewed, refunded,
replaced, refinanced, repaid or restructured in whole or in part from time to time. 

  
 3 

 “Custodian” means the Trustee, as custodian with respect to the Notes in
global form, or any successor entity thereto. 
 “Default” means any event that is or with the passage of time
or the giving of notice or both would be an Event of Default. 
 “Definitive Note” means a certificated Note
registered in the name of the Holder thereof and issued in accordance with Section 2.06 hereof, in the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges
of Interests in the Global Note” attached thereto. 
 “Depositary” means, with respect to the Notes
issuable or issued in whole or in part in global form, the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant
to the applicable provision of this Indenture. 
 “Domestic Subsidiary” means a Subsidiary that is
(i) formed under the laws of the United States of America or a state thereof or (ii) as of the date of determination, treated as a domestic entity or a partnership or a division of a domestic entity for U.S. federal income tax purposes.

 “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels office, as operator of the Euroclear
system. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
of the SEC promulgated thereunder. 
 “Exchange Offer” means the exchange offer by the Company and the
Subsidiary Guarantors of the Exchange Notes for original Notes to be effected pursuant to the Registration Rights Agreement or any similar registration rights agreement with respect to any Additional Notes. 

“Exchange Offer Registration Statement” means the Exchange Offer Registration Statement as defined in the Registration
Rights Agreement. 
 “Fitch” means Fitch Ratings Limited, or any successor to the rating agency business
thereof. 
 “GAAP” means generally accepted accounting principles, which are in effect on the date of the
Indenture. The sources of accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with GAAP in the United States, are set forth
in the Financial Accounting Standards Board’s Accounting Standards Codification. 
 “Global Note Legend”
means the legend set forth in Section 2.06(g)(i), which is required to be placed on all Global Notes issued under this Indenture. 
 “Global Notes” means a permanent global Note in the form of Exhibit A-1 (in the case of the 2018 Notes) and Exhibit A-2 (in the case of the 2021 Notes) attached hereto that
bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary. 

“Government Securities” 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 

  
 4 

 company as custodian with respect to any such Government Security or a specific payment of interest on or
principal of any such Government Security 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 Government Security or the specific payment of interest on or principal of the Government Security evidenced by such depository receipt. 

“Guarantee” means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course
of business), direct or indirect, in any manner (including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof), of all or any part of any Indebtedness. 

“Holder” means a Person in whose name a Note is registered. 

“Indebtedness” means, with respect to any Person, any indebtedness of such Person, whether or not contingent, in respect
of borrowed money or evidenced by bonds, notes, debentures or similar instruments. 
 “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, including, for all purposes of this instrument and
any such supplemental indenture following the effectiveness of a registration statement under the Securities Act covering the Notes, the provisions of the TIA that are deemed to be a part of and govern this instrument, and any such supplemental
indenture, respectively. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers
appointed by the Company. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global
Note through a Participant. 
 “Initial Purchasers” means Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., RBS Securities Inc., Banco Bilbao Vizcaya Argentaria, S.A., Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets
LLC, Santander Investment Securities Inc., U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC, ANZ Securities, Inc., Fifth Third Securities, Inc., nabSecurities, LLC, SMBC Nikko Capital Markets Limited, Standard Chartered Bank and Westpac
Banking Corporation. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s, BBB- (or the equivalent) by S&P or BBB- (or the equivalent) by Fitch. 
 “Legal
Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York, the city in which the Corporate Trust Office of the Trustee is located or at a place of payment with respect to the Notes are authorized by
law, regulation or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment
for the intervening period. 
 “Letter of Transmittal” means the letter of transmittal to be prepared by the
Company and sent to all Holders of the Notes for use by such Holders in connection with the Exchange Offer. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor to the rating agency business thereof.

 “Non-Recourse Debt” means Indebtedness to finance the creation, development, construction or acquisition of
properties or assets and any increases in or extensions, renewals or refinancings of such Indebtedness; provided that the recourse of the lender thereof (including any agent, trustee, receiver or other Person acting on behalf of such entity) in
respect of such Indebtedness is limited in all circumstances to the properties or assets created, developed, constructed or acquired in respect of which such Indebtedness has been incurred, to the Capital Stock and debt 

  
 5 

 securities of the Restricted Subsidiary that acquires or owns such properties or assets and to the
receivables, inventory, equipment, chattels, contracts, intangibles and other assets, rights or collateral connected with the properties or assets created, developed, constructed or acquired and to which such lender has recourse. 

“Non-U.S. Person” means a Person who is not a U.S. Person. 

“Obligations” means any principal, premium (if any), interest, penalties, fees, charges, expenses, indemnifications,
reimbursement obligations, damages, Guarantees and other liabilities and amounts payable under the documentation governing any Indebtedness or in respect thereto. 
 “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the
Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Vice President of such Person. 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President or a Vice President,
and by the Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. 

“Opinion of Counsel” means a written opinion of counsel who is reasonably acceptable to the Trustee, who may (except as
otherwise expressly provided in this Indenture) be counsel for the Company. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company or the Trustee. 

“Outstanding” when used with respect to Notes means, as of the date of determination, all Notes theretofore
authenticated and delivered under this Indenture, except:  
 (i) Notes theretofore cancelled by the
Trustee or delivered to the Trustee for cancellation; 
 (ii) Notes for whose payment or 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 aggregated in trust by the Company (if the Company shall act as its own Paying Agent), for the Holders of such Notes, provided
that, if such Notes 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 

(iii) Notes in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture; 

provided, however, that in determining whether the Holders of the requisite aggregate principal amount of Outstanding Notes of a series have given
any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Company or any other obligor upon the Notes of such series or any Affiliate of the Company or such other obligor shall be disregarded and deemed
not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Trustee actually
knows to be so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee established to the satisfaction of the Trustee the pledgee’s right so to act with respect to such
Notes and that the pledgee is not the Company or any other obligor upon the Notes or any Affiliate of the Company or such other obligor. 
 “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively, and, with respect
to The Depository Trust Company, shall include Euroclear and Clearstream. 
 “Paying Agent” means any Person
authorized by the Company to pay the principal of (or premium, if any) or interest on any Notes on behalf of the Company. 

  
 6 

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

“Principal Property” means any real property interests (all such interests forming an integral part of a single
development or operation being considered as one interest), including any mining claims and leases, and any plants, buildings or other improvements thereon, and any part thereof, located in the United States that is held by the Company or any
Restricted Subsidiary and has a gross book value (without deduction of any depreciation reserves), on the date as of which the determination is being made, exceeding 1% of Consolidated Net Tangible Assets (other than any such interest that the Board
of Directors of the Company determines by resolution is not material to the business of the Company and its Subsidiaries taken as a whole). 
 “Principals” means the executive officers of the Company as of the date hereof. 
 “Private Placement Legend” means the legend set forth in Section 2.06(g)(ii) hereof to be placed on all Notes issued under this Indenture, except where otherwise permitted by the
provisions of this Indenture. 
 “QIB” means a “qualified institutional buyer” as defined in
Rule 144A. 
 “Rating Agency” means each of S&P, Moody’s and Fitch, or if S&P, Moody’s,
Fitch or all three cease to make a rating on the applicable notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company (as certified by a resolution of its Board of Directors)
which shall be substituted for S&P, Moody’s, Fitch, or all three as the case may be. 
 “Rating Date”
means the date which is 90 days prior to the earlier of: 
 (a) a Change of Control, and 

(b) public notice of the occurrence of a Change of Control or of the intention of the Company to effect a Change of
Control. 
 “Rating Decline” means the occurrence of the following on, or within, 90 days after the
earlier of: (i) the date of public notice of the occurrence of a Change of Control or (ii) public notice of the intention of the Company to effect a Change of Control (which 90-day period shall be extended so long as the rating of the
Notes of such series is under publicly announced consideration for possible downgrade by any of the Rating Agencies): 
 (a) if the Notes of such series are assigned an Investment Grade Rating by all Rating Agencies on the Rating Date, the rating of the Notes of such series by one of the Rating Agencies shall be below an
Investment Grade Rating; or 
 (b) if the Notes of such series are rated below an Investment Grade Rating by at
least one of the Rating Agencies on the Rating Date, the rating of the Notes of such series by at least one of the other Rating Agencies shall be decreased by one or more gradations (including gradations within rating categories as well as between
rating categories). 
 “Reference Treasury Dealer” means Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC, or their affiliates, plus one other Primary Treasury Dealer (as defined below) appointed by the Company, and their respective successors; provided, however, that if
any of the foregoing ceases to be a primary U.S. Government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer, if available. 

“Reference Treasury Dealer Quotation” means, with respect to the Reference Treasury Dealer and any redemption date, the
average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by that Reference Treasury Dealer at
3:30 p.m. (New York time) on the third Business Day preceding that redemption date. 

  
 7 

 “Registration Rights Agreement” means the Registration Rights Agreement
relating to the Notes dated November 15, 2011, among the Company, the Subsidiary Guarantors and the Initial Purchasers. 

“Regulation S” means Regulation S under the Securities Act (including any successor regulation thereto), as it
may be amended from time to time. 
 “Regulation S Global Note” means a Global Note in the form of
Exhibit A-1 (in the case of the 2018 Notes) and Exhibit A-2 (in the case of the 2021 Notes) bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or
its nominee, issued in a denomination equal to the outstanding principal amount of the 2018 Notes or the 2021 Notes, as the case may be, sold in reliance on Rule 903. 
 “Related Party” with respect to any Principal means (A) any spouse or immediate family member of such Principal or (B) any trust, corporation, partnership or other entity, the
beneficiaries, stockholders, partners, owners or Persons beneficially holding an 80% or more controlling interest of which consist of such Principal and/or such other Persons referred to in the immediately preceding clause (A). 

“Responsible Officer,” when used with respect to the Trustee, means any officer within the Corporate Trust
Administration of the Trustee (or any successor group of the Trustee) 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. 
 “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 
 “Restricted Global Note” means a Global Note bearing the Private Placement Legend. 
 “Restricted Subsidiary” means any Subsidiary (a) substantially all of the property of which is located in the United States or substantially all of the business of which is carried
on, in the United States and that owns or leases a Principal Property or (b) is engaged primarily in the business of owning or holding Capital Stock of one or more Restricted Subsidiaries. 

“Restricted Period” means the 40-day distribution compliance period as defined in Regulation S. 

“Rule 144” means Rule 144 under the Securities Act (including any successor regulation thereto), as it may be
amended from time to time. 
 “Rule 144A” means Rule 144A under the Securities Act (including any
successor regulation thereto), as it may be amended from time to time. 
 “Rule 903” means Rule 903
promulgated under the Securities Act. 
 “Rule 904” means Rule 904 promulgated under the Securities Act.

 “S&P” means Standard & Poor’s Rating Group, Inc., or any successor to the rating agency
business thereof. 
 “Sale and Lease-Back Transaction” means any arrangement with any person providing for the
leasing by the Company or any Restricted Subsidiary of any Principal Property, whether owned at the date of the issuance of the notes or thereafter acquired, that has been or is to be sold or transferred by the Company or any Restricted Subsidiary
to such person with the intention of taking back a lease of this property. 
 “SEC” means the United States
Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as amended.

  
 8 

 “Shelf Registration Statement” means the Shelf Registration Statement as
defined in the Registration Rights Agreement. 
 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this Indenture. 

“Specified Subsidiaries” means Kentucky United Coal, LLC, Midwest Coal Reserves of Kentucky, LLC, Mustang Clean Energy,
LLC, Newhall Funding Company, P&L Receivables Company LLC, Peabody China, LLC, Peabody Mongolia, LLC, PG Investments Six, LLC, Sterling Centennial Insurance Corp. and United Minerals Company, LLC. 

“Subsidiary” means, with respect to any Person, (i) any corporation, association or other business entity of which
more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time 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 (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of
such Person or (b) the only general partners of which are such Person or of one or more Subsidiaries of such Person (or any combination thereof). 
 “Subsidiary Guarantee” means the Guarantee of the Notes by each of the Subsidiary Guarantors pursuant to this Indenture and any additional Guarantee of the Notes to be executed by any of
the Company’s Subsidiaries pursuant to Section 4.09. 
 “Subsidiary Guarantors” means all of the
Company’s existing Domestic Subsidiaries, except for the Specified Subsidiaries, and any other Subsidiary that executes a Subsidiary Guarantee in accordance with the provisions of this Indenture, and their respective successors and assigns.

 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa- 77bbbb) as in effect on
the date on which this Indenture is qualified under the TIA. 
 “Treasury Rate” means with respect to any
redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such redemption date. 
 “Trustee” means the party
named as such above until a successor replaces it in accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 
 “Unrestricted Definitive Note” means one or more Definitive Notes that do not bear and are not required to bear the Private Placement Legend. 

“Unrestricted Global Note” means a permanent Global Note, substantially in the form of Exhibit A-1 (in the case of
the 2018 Notes) and Exhibit A-2 (in the case of the 2021 Notes) that bears the Global Note Legend and that has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on behalf of
and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend. 
 “U.S.
Person” means a U.S. person as defined in Rule 902(k) under the Securities Act. 
 “Voting Stock” of
any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 

  
 9 

 Section 1.02. Other Definitions. 

 

			
	 Terms
	  	Defined in
Section
	 “2018 Additional Notes”
	  	Recitals
	 “2021 Additional Notes”
	  	Recitals
	 “2018 Exchange Notes”
	  	Recitals
	 “2021 Exchange Notes”
	  	Recitals
	 “2018 Notes”
	  	Recitals
	 “2021 Notes”
	  	Recitals
	 “Additional Notes”
	  	Recitals
	 “Authentication Order”
	  	2.02(d)
	 “Benefited Party”
	  	10.01
	 “Change of Control Offer”
	  	4.08(a)
	 “Change of Control Payment”
	  	4.08(a)
	 “Change of Control Payment Date”
	  	4.08(a)
	 “Covenant Defeasance”
	  	8.03
	 “DTC”
	  	2.03(b)
	 “Event of Default”
	  	6.01
	 “Exchange Notes”
	  	Recitals
	 “Exchange Global Note”
	  	2.01(b)
	 “Legal Defeasance”
	  	8.02
	 “Lien”
	  	4.06
	 “Notes”
	  	Recitals
	 “Initial Notes”
	  	Recitals
	 “Initial 2018 Notes”
	  	Recitals
	 “Initial 2021 Notes”
	  	Recitals
	 “Paying Agent”
	  	2.03(a)
	 “Registrar”
	  	2.03
	 “Regulation S Permanent Global Note”
	  	2.06(i)(x)
	 “Regulation S Temporary Global Note”
	  	2.06(i)(x)

 Section 1.03. Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 The following TIA terms used in this Indenture have the following meanings: 

“obligor” on the Notes and the Subsidiary Guarantees means the Company and the Subsidiary Guarantors, respectively, and
any successor obligor upon the Notes and the Subsidiary Guarantees, respectively. 
 All other terms used in this Indenture that
are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA have the meanings so assigned to them. 
 Section 1.04. Rules of Construction. 
 Unless the context
otherwise requires: 
 (1) a term has the meaning assigned to it; 

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(3) “or” is not exclusive; 

  
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 (4) words in the singular include the plural, and in the plural include the
singular; 
 (5) provisions apply to successive events and transactions; 

(6) “interest” shall include Additional Interest, if any; 

(7) references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement or
successor sections or rules adopted by the SEC from time to time; and 
 (8) whenever in this Indenture there is
mentioned, in any context, principal, interest or any other amount payable under or with respect to any Note, such mention shall be deemed to include mention of the payment of Additional Interest to the extent that, in such context, Additional
Interest is, was or would be payable in respect thereof. 
 ARTICLE II 

THE NOTES 

Section 2.01. Form and Dating. 
 (a) General. The Company shall deliver to the Trustee for authentication and the Trustee shall initially authenticate (i) 2018 Notes for original issue on the date hereof in an
aggregate principal amount of $1,600,000,000 and (ii) 2021 Notes for original issue on the date hereof in an aggregate principal amount of $1,500,000,000. The Notes and the Trustee’s certificate of authentication shall be substantially in
the form of form of Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes), each of which is hereby incorporated in and expressly made part of this Indenture. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The terms and provisions contained
in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Company, the Subsidiary Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to
be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

(b) Form of Notes. The Notes shall be issued initially in global form and shall be substantially in the form of
Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes) (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued
in definitive form shall be substantially in the form of Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes) (but without the Global Note Legend thereon and without the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Each Global Note shall represent such of the Outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of Outstanding Notes
from time to time endorsed thereon and that the aggregate principal amount of Outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Note
to reflect the amount of any increase or decrease in the aggregate principal amount of Outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the
Holder thereof as required by Section 2.06 hereof. 
 If and when issued, Exchange Notes offered to Holders, as provided in
the Registration Rights Agreement, shall be issued initially in the form of one or more Global Notes substantially in the form of Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes), with such
applicable omissions and legends as are provided in Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes), except as otherwise permitted herein (in each case, an “Exchange Global
Note”), which shall be deposited on behalf of the Holders of the Exchange Notes represented thereby with the Depositary, and registered in the name of the Depositary or its nominee, as the case may be, duly executed by the Company and
authenticated by the Trustee (or an authenticating agent appointed by the Trustee in accordance with Section 2.02) as hereinafter provided. The aggregate principal amount of an Exchange Global Note may from time to time be increased or
decreased by adjustments made by the Registrar on Schedule A to the applicable Exchange Global Note and recorded in the Registrar, as hereinafter provided. 

  
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 Upon the transfer, exchange or replacement of any Initial Note remaining outstanding after
the consummation of an Exchange Offer, the Registrar shall deliver such new Initial Note only in global form, subject to Section 2.06, and such new Original Note shall continue to bear the applicable legends set forth in Exhibit A-1 (in
the case of the 2018 Notes) or Exhibit A-2 (in the case of the 2021 Notes). In the case of a 144A Global Note, such legends shall include the private placement legend unless (x) the appropriate period referred to in Rule 144 under the
Securities Act has elapsed or (y) there is delivered to the Registrar an opinion of counsel reasonably satisfactory to the Company and the Trustee to the effect that neither such legend nor the related restrictions on transfer are required in
order to maintain compliance with the Securities Act. 
 Upon the transfer, exchange or replacement of any Note pursuant to a
Shelf Registration Statement, the Registrar shall deliver such new Note only in global form, subject to Section 2.06, and such new Note shall continue to bear the applicable legends set forth in Exhibit A-1 (in the case of the 2018 Notes)
or Exhibit A-2 (in the case of the 2021 Notes); provided, however, that such new Note shall not be required to bear the private placement legend set forth in Exhibit A-1 (in the case of the 2018 Notes) or Exhibit A-2 (in
the case of the 2021 Notes). Beneficial interests in any such new Note shall be reflected in the Exchange Global Note. 
 (c)
Book-Entry Provisions. This Section 2.01(c) shall only apply to Global Notes deposited with the Trustee, as custodian for the Depositary. Participants and Indirect Participants shall have no rights under this Indenture with
respect to any Global Note held on their behalf by the Depositary or by the Trustee as the custodian for the Depositary or under such Global Note, and the Depositary shall be treated by the Company, the Trustee and any agent of the Company or the
Trustee as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Participants or Indirect Participants, the Applicable Procedures or the operation of customary practices of the Depositary governing
the exercise of the rights of a holder of a beneficial interest in any Global Note. 
 Section 2.02. Execution and
Authentication. 
 (a) One Officer shall sign the Notes for the Company by manual or facsimile signature. 

(b) If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall
nevertheless be valid. 
 (c) A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature
shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 (d) The Trustee shall, upon a written
order of the Company signed by an Officer (an “Authentication Order”), authenticate the Notes for original issue. 
 (e) The Trustee may appoint an authenticating agent acceptable to the Company to authenticate the Notes. An authenticating agent may authenticate the Notes whenever the Trustee may do so. Each reference
in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the Company. 

(f) The Company may issue an unlimited amount of Additional Notes from time to time after the offering of the Initial Notes and an amount
of Exchange Notes of each series for issue only in an Exchange Offer, pursuant to the Registration Rights Agreement, up to the aggregate principal amount of Initial Notes and Additional Notes of each series exchanged in such Exchange Offer. The
Initial Notes of any series and any Additional Notes and Exchange Notes of such series subsequently issued under this Indenture shall be treated as a single class for all purposes under this Indenture, including, without limitation, waivers,
amendments, redemptions and offers to purchase. 

  
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 Section 2.03. Registrar and Paying Agent. 

(a) The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange. The Company may
appoint one or more co-Registrars and one or more additional paying agents. The term “Registrar” includes any co-Registrar and the term “Paying Agent” includes any additional paying agent. The Company
may change any Paying Agent or Registrar without notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as
Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 (b) The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes. 

(c) The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global
Notes. 
 Section 2.04. Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and will notify the Trustee of any default by the Company in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent
(if other than the Company or a Subsidiary) shall have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it
as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Notes. 
 Section 2.05. Holder Lists. 
 The Trustee shall preserve in as
current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company shall furnish to the
Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of the
Holders of Notes and the Company shall otherwise comply with TIA § 312(a). 
 Section 2.06. Transfer and
Exchange. 
 (a) Transfer and Exchange of Global Notes. Except as otherwise set forth in this
Section 2.06, a Global Note may be transferred, in whole and not in part, only to another nominee of the Depositary or to a successor thereto or a nominee of such successor. A beneficial interest in a Global Note shall be exchangeable for a
Definitive Note if (i) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Note, (ii) the Depositary has ceased to be a clearing agency registered under the Exchange Act, and, in
either case, a successor Depositary is not appointed by the Company within 120 days, or (iii) there shall have occurred and be continuing an Event of Default with respect to such Global Note. Upon the occurrence of any of the preceding events
in (i), (ii) or (iii) above, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein will be registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary
(in accordance with its customary procedures). Global Notes also may be exchanged 

  
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 or replaced, in whole or in part, as provided in Sections 2.08 and 2.09 hereof. Every Note
authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.08 or 2.09 hereof, shall be authenticated and delivered in the form of, and shall be, a Global
Note, except for Definitive Notes issued subsequent to any of the preceding events in (i), (ii) or (iii) above and pursuant to Section 2.06(c) hereof. A Global Note may not be exchanged for another Note other than as provided in this
Section 2.06(a); provided, however, that beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in
the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. 
 Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in
Global Notes shall be transferred or exchanged only for beneficial interests in Global Notes pursuant to this clause (b). Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or
(ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of
Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Note may not be made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note.
No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(i). 
 (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(i)
hereof, the transferor of such beneficial interest must deliver to the Registrar either (A) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing
such Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures
containing information regarding the Participant account to be credited with such increase or (B) (1) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures
directing such Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the
Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1). Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the requirements of this
Section 2.06(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon
satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the
relevant Global Note(s) pursuant to Section 2.06(h) hereof. 
 (iii) Transfer of Beneficial Interests to Another Restricted
Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of
Section 2.06(b)(ii) hereof and the Registrar receives the following: 
 (A) if the transferee will take
delivery in the form of a beneficial interest in a 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; or 

  
 14 

 (B) if the transferee will take delivery in the form of a beneficial
interest in a Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof. 

(iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note.
A beneficial interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(ii) hereof and: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder of the beneficial interest to be transferred, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is
an affiliate (as defined in Rule 144) of the Company; 
 (B) such transfer is effected pursuant to the
Shelf Registration Statement in accordance with the Registration Rights Agreement; 
 (C) such transfer is
effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 
 (1) if the holder of
such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof; or 
 (2) if the holder of such beneficial interest in a Restricted
Global Note proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred
pursuant to subparagraph (B) or (D) above. 
 Beneficial interests in an Unrestricted Global Note cannot be exchanged
for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 

(c) Transfer or Exchange of Beneficial Interests for Definitive Notes. Beneficial interests in Global Notes shall be
exchanged only for Definitive Notes pursuant to this clause (c). 

  
 15 

 (i) Beneficial Interests in Restricted Global Notes to Restricted Definitive
Notes. If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the
form of a Restricted Definitive Note, then, subject to Section 2.06(a) hereof and receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder substantially in
the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 
 (B) if such beneficial
interest is being transferred to a QIB in accordance with Rule 144A, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate substantially in the form
of Exhibit B hereto, including the certifications in item (3)(a) thereof; or 
 (E) if such beneficial
interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (3)(c) thereof, 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof,
and the Company shall execute and the Trustee shall authenticate and mail to the Person designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions
from the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 

(ii) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest
in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note only subject to
Section 2.06(a) hereof and if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer
in accordance with the Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a
Broker-Dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for an Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

  
 16 

 (2) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder substantially in the form of Exhibit B hereto, including the certifications
in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if
the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein
and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (iii)
Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to
transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then, subject to Section 2.06(a) hereof and satisfaction of the conditions set forth in Section 2.06(b)(ii) hereof, the Trustee
shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall authenticate and mail to the Person designated in the
instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iii) shall be registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the
Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iii) shall not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. Restricted Definitive Notes shall be exchanged only
for beneficial interests in Restricted Global Notes pursuant to this clause (d). 
 (i) Restricted Definitive Notes
to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person
who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder substantially in the form of
Exhibit C hereto, including the certifications in item (2)(b) thereof; 
 (B) if such Restricted Definitive
Note is being transferred to a QIB in accordance with Rule 144A, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance
with Rule 903 or Rule 904, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate substantially
in the form of Exhibit B hereto, including the certifications in item (3)(a) thereof; or 
 (E) if such
Restricted Definitive Note is being transferred pursuant to an effective registration statement under the Securities Act, a certificate substantially in the form of Exhibit B hereto, including the certifications in item (3)(c) thereof,

  
 17 

 the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the aggregate
principal amount of, in the case of clause (A) above, the applicable Restricted Global Note, in the case of clause (B) above, the applicable 144A Global Note, and in the case of clause (C) above, the applicable Regulation S Global
Note. 
 (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a
Restricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note only if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a Person
participating in the distribution of the Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with
the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 

(1) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted
Global Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 
 (2) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate
from such Holder substantially in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and,
in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is
in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.06(d)(ii), the Trustee shall cancel the Definitive
Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 
 (iii)
Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive
Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive
Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 
 If any
such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and,
upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so
transferred. 

  
 18 

 (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon
request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Definitive Notes shall be exchanged only for
Definitive Notes pursuant to this clause (e). Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable,
required pursuant to the following provisions of this Section 2.06(e): 
 (i) Restricted Definitive Notes to
Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following:

 (A) if the transfer will be made pursuant to a QIB in accordance with Rule 144A, then the transferor must
deliver a certificate substantially in the form of Exhibit B hereto, including the certifications in item (1) thereof; 
 (B) if the transfer will be made pursuant to Rule 903 or Rule 904 then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; or

 (C) if the transfer will be made pursuant to any other exemption from the registration requirements of the
Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications required by item (3) thereof, if applicable. 

(ii) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the
Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (1) a Broker-Dealer, (2) a Person participating in the distribution of the
Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B) any
such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 
 (C) any such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration Statement in accordance with the Registration Rights Agreement; or 

(D) the Registrar receives the following: 

(1) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted Definitive
Note, a certificate from such Holder substantially in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
 (2) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such
Holder substantially in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each
such case set forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

  
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 (iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A
Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the
Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 
 (f) Exchange Offer. Upon
the occurrence of the Exchange Offer in accordance with the Registration Rights Agreement, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate (i) one
or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in the Restricted Global Notes tendered for acceptance by Persons that certify in the applicable Letters of Transmittal that
(x) they are not Broker-Dealers, (y) they are not participating in a distribution of the Exchange Notes and (z) they are not affiliates (as defined in Rule 144) of the Company, and accepted for exchange in the Exchange Offer and
(ii) Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes tendered for acceptance by Persons that certify in the applicable Letters of Transmittal that (x) they are
not Broker-Dealers, (y) they are not participating in a distribution of the Exchange Notes and (z) they are not affiliates (as defined in Rule 144) of the Company, and accepted for exchange in the Exchange Offer. Concurrently with the
issuance of such Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company shall execute and the Trustee shall authenticate and mail to the Persons designated
by the Holders of Definitive Notes so accepted Unrestricted Definitive Notes in the applicable principal amount. Any Notes that remain outstanding after the consummation of the Exchange Offer, and Exchange Notes issued in connection with the
Exchange Offer, shall be treated as a single class of securities under this Indenture. 
 (g) Legend. The
following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture: 

(i) Global Note Legend: Each Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN
CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE,
(II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.10 OF THE INDENTURE AND
(IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE
OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(ii) Private Placement Legend: 
 (A) Except as permitted by subparagraph (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially
the following form: 

  
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 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER
(1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH
RULE 904 UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN
COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT (IF AVAILABLE), (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED
BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), OR (F) PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) of this
Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend. 
 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee in accordance with Section 2.09 of this Indenture. At any time prior to such cancellation,
if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by
such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for
or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by
the Depositary at the direction of the Trustee to reflect such increase. 
 (i) General Provisions Relating to Transfers
and Exchanges. 
 (i) To permit registrations of transfers and exchanges, the Company shall execute Global Notes and
Definitive Notes, and the Trustee shall authenticate Global Notes and Definitive Notes upon the Company’s order (including an Authentication Order given pursuant to Section 2.02) or at the Registrar’s request (in connection with any
transfer or exchange of Notes pursuant to this Section 2.06). 
 (ii) No service charge shall be made to a Holder of a
beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in
connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.08, 2.09, 3.06, 4.08 and 9.05 hereof). 

  
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 (iii) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration
of transfer or exchange. 
 (iv) Neither the Registrar nor the Company shall be required (A) to issue, to register the
transfer of or to exchange any Notes during a period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of
selection, (B) to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note
between a record date and the next succeeding Interest Payment Date. 
 (v) Prior to due presentment for the registration of a
transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and
for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
 (vi)
The Trustee shall authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 

(vii) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile. 
 (viii) The Trustee is
hereby authorized to enter into a letter of representation with the Depositary in the form provided by the Company and to act in accordance with such letter. 
 (ix) Notwithstanding anything contained herein to the contrary, neither the Trustee nor the Registrar shall be responsible for ascertaining whether any purchase or transfer complies with the registration
provisions of or exemptions from the Securities Act or other state, federal securities laws that may be applicable; provided, however, that if a certificate is specifically required by the express terms of this Section 2.06 to be
delivered to a Trustee by a purchaser or required by the express terms of this Section 2.06 to be delivered to a Trustee by a purchaser or transferee of a Note, the Trustee shall be under a duty to receive and examine the same to determine
whether it conforms on its face to the requirements of this Section 2.06 and shall promptly notify the party delivering the same if such transfer does not comply with such terms. 

(x) Notes offered and sold in reliance on Regulation S shall be issued initially in the form of a temporary Global Note substantially in
the form of Exhibit A-1 hereto, in the case of the 2018 Notes, and Exhibit A-2 hereto, in the case of the 2021 Notes, with such applicable legends as are provided in Exhibit A-1 hereto, in the case of the 2018 Notes, and
Exhibit A-2 hereto, in the case of the 2021 Notes, except as otherwise permitted herein (each, a “Regulation S Temporary Global Note”), which shall be deposited on behalf of the purchasers of the Notes represented
thereby with the Trustee, as custodian for the Depositary, and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly executed by the
Company and authenticated by the Trustee (or an Authenticating Agent appointed by the Trustee in accordance with Section 7.14) as hereinafter provided. 
 Following (i) the expiration of the Restricted Period and (ii) receipt by the Trustee of certification in a form reasonably satisfactory to the Trustee that beneficial interests in such
Regulation S Temporary Global Notes are owned either by non-U.S. persons (as defined in Regulation S) or U.S. persons who purchased such interests in a transaction that did not require registration under the Securities Act, beneficial interests in
each Regulation S Temporary Global Note shall be exchanged for beneficial interests in a permanent Global Note in the form of Exhibit A-1 hereto, in the case of the 2018 Notes, and Exhibit A-2 hereto, in the case of the 2021 Notes, with
such applicable legends as are provided in Exhibit A-1 hereto, in the case of the 2018 Notes, and Exhibit A-2 hereto, in the case of the 2021 Notes, except as otherwise permitted herein (each, a “Regulation S Permanent Global
Note”). Simultaneously with the authentication of the corresponding Regulation S Permanent Global Note, the Trustee shall cancel the corresponding Regulation S Temporary Global Note. The aggregate principal amount of a Regulation S
Temporary Global Note and a Regulation S Permanent Global Note may from time to time be increased or 

  
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 decreased by adjustments made by the Registrar on Schedule A to the applicable Regulation S Temporary
Global Note or the applicable Regulation S Permanent Global Note, as the case may be, and recorded in the register of the Registrar. 
 Section 2.07. Treasury Notes. 
 In determining whether the
Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company, shall be considered as though not Outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee
knows are so owned shall be so disregarded. 
 Section 2.08. Replacement Notes. 

If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an
indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is
replaced. The Company may charge for its expenses in replacing a Note. 
 Every replacement Note is an additional obligation of
the Company and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes of the applicable series duly issued hereunder. 
 Section 2.09. Temporary Notes. 
 Until certificates representing
Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes, but may have variations
that the Company considers appropriate for temporary Notes and shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes.

 Holders of temporary Notes shall be entitled to all of the benefits of this Indenture. 

Section 2.10. Cancellation. 
 The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange
or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall destroy canceled Notes (subject to the record retention requirement of the Exchange
Act). Certification of the destruction of all canceled Notes shall be delivered to the Company. The Company may not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. 

Section 2.11. Defaulted Interest. 
 If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the
Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on
each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date

  
 23 

 for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the
written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.

 Section 2.12. CUSIP, ISIN and Common Code Numbers. 

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

Section 2.13. Computation of Interest. 
 Interest on the Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. 
 ARTICLE III 
 REDEMPTION AND PREPAYMENT 

Section 3.01. Notices to Trustee. 
 If the Company elects to redeem Notes of any series pursuant to the redemption provisions of Section 3.07 hereof, it shall furnish to the Trustee, at least 45 days (unless a later date is agreed
to by the Trustee at its option) but not more than 60 days before a redemption date, an Officer’s Certificate setting forth (i) the clause of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date,
(iii) the principal amount of 2018 Notes or 2021 Notes, as applicable, to be redeemed, (iv) the redemption price and (v) the CUSIP numbers of the Notes to be redeemed. 

Section 3.02. Selection of Notes to be Redeemed. 

If less than all of the Notes of any series are to be redeemed or purchased in an offer to purchase at any time, the Trustee shall select
the Notes of such series to be redeemed or purchased among the Holders of the Notes of such series in compliance with the requirements of the principal national securities exchange, if any, on which the Notes of such series are listed or, if the
Notes of such series are not so listed, on a pro rata basis, by lot or by such method as the Trustee deems fair and appropriate (subject in any case to the Applicable Procedures, with respect to any Global Notes). In the event of partial
redemption by lot, the particular Notes of a series to be redeemed shall be selected, unless otherwise provided herein (or as otherwise provided in the Applicable Procedures, if applicable), at least 30 but no more than 60 days prior to the
redemption date by the Trustee from the Outstanding Notes of such series not previously called for redemption. 
 The Trustee
shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in amounts of
$2,000 or whole multiples of $1,000; except that if all of the Notes of a Holder of a series are to be redeemed, the entire Outstanding amount of Notes of such series held by such Holder, even if not a multiple of $1,000, shall be redeemed. Except
as provided in the preceding sentence, provisions of this Indenture that apply to Notes of any series called for redemption also apply to portions of Notes of such series called for redemption. 

  
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 Section 3.03. Notice of Redemption. 

At least 30 days but not more than 60 days before the applicable redemption date, the Company shall mail or cause to be mailed,
by first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection
with a defeasance of the Notes pursuant to Article VIII hereof or a satisfaction and discharge of this Indenture pursuant to Article XI. 
 The notice shall identify the Notes of a series to be redeemed, including the CUSIP numbers, and shall state: 
 (a) the redemption date; 
 (b) a calculation of the redemption price; 

(c) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption
date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Note; 
 (d) the name and address of the Paying Agent; 
 (e) that Notes called for
redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (f) that, unless the Company defaults in
making such redemption payment, interest, if any, on Notes called for redemption ceases to accrue on and after the redemption date; 
 (g) the paragraph of the Notes or Section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and 

(h) that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the
Notes. 
 At the Company’s written request, the Trustee shall give the notice of redemption in the Company’s name and
at its expense; provided, however, that the Company shall have delivered to the Trustee, at least 45 days, or such shorter period allowed by the Trustee, prior to the redemption date, an Officer’s Certificate requesting that
the Trustee give such notice and setting forth the information to be stated in such notice as provided in this Section 3.03. 
 Section 3.04. Effect of Notice of Redemption. 
 Once notice of
redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. A notice of redemption may not be conditional. 

Section 3.05. Deposit of Redemption Price. 
 One Business Day prior to the redemption date, the Company shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption price of and accrued interest on all Notes to be
redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, and accrued
interest on, all Notes to be redeemed. 
 If the Company complies with the provisions of the preceding paragraph, on and after
the redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for redemption. If a Note is redeemed on or after an interest record date but on or prior to the related interest payment date, then any accrued and
unpaid 

  
 25 

 interest shall be paid to the Person in whose name such Note was registered at the close of business on such
record date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption date
until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof. 

On and after the redemption date, unless the Company defaults in depositing money sufficient to pay the redemption price and accrued
interest on all of Notes to be redeemed, interest shall cease to accrue on Notes or portions thereof called for redemption. 

Section 3.06. Notes Redeemed in Part. 
 Upon surrender of a Note that is redeemed in part, the Company shall issue and, upon the Company’s written request, the Trustee shall authenticate for the Holder at the expense of the Company a new
Note equal in principal amount to the unredeemed portion of the Note surrendered. 
 Section 3.07. Optional
Redemption. 
 (a) The Notes of a series will be subject to redemption at any time at the option of the Company, in whole
at any time or in part from time to time, upon notice given in accordance with the provisions of Section 3.03 hereof, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and
(2) the sum of the present values of the remaining principal and interest payments on the applicable Notes (exclusive of interest accrued to the date of redemption) discounted to the redemption date, calculated on a semi-annual basis (assuming
a 360-day year of twelve 30-day months), at the Treasury Rate plus 50 basis points, together with accrued and unpaid interest, if any, to the date of redemption. 
 (b) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Section 3.01 through 3.06 hereof. 

ARTICLE IV 
 COVENANTS 
 Section 4.01. Payment of Notes. 

The Company or a Subsidiary Guarantor shall pay or cause to be paid the principal of, premium, if any, and interest, if any, on the Notes
on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest, if any, shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m.
Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest, if any, then due. 

The Company or a Subsidiary Guarantor shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on
overdue principal at the rate equal to the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest
(without regard to any applicable grace period) at the same rate to the extent lawful. 
 Interest shall be computed on the
basis of a 360-day year of twelve 30-day months. 
 Section 4.02. Maintenance of Office or Agency.

 The Company shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee,
Registrar or co-Registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. 

  
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 The Company shall give prompt written notice to the Trustee of the location, and any change in the location,
of such office or agency. If at any time the 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. 
 The Company may also from time to time designate one or more other offices or
agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency. 
 The Company hereby designates the office of the Trustee located at 100 Wall
Street, Suite 1600, New York, New York 10005 as one such office or agency of the Company in accordance with Section 2.03. Notices or demands with respect to the Notes and this Indenture shall be delivered to the Trustee at its Corporate Trust
Office at 225 Asylum Street, 23rd Floor, Hartford, Connecticut 06103. 
 Section 4.03. Compliance Certificate.

 (a) The Company and each Subsidiary Guarantor (to the extent that such Subsidiary Guarantor is so required under the
TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under
the supervision of the signing Officer with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to
the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of
this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and
that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the
event and what action the Company is taking or proposes to take with respect thereto. 
 (b) The Company shall, so long as any of
the Notes of any series are Outstanding, deliver to the Trustee, as soon as possible, but in no event later than five days after any Officer becoming aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or
Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 Section 4.04.
Taxes. 
 The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material
taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

Section 4.05. Stay, Extension and Usury Laws. 
 The Company and each of the Subsidiary Guarantors covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the
benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of the Subsidiary Guarantors (to the
extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it shall not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but
shall suffer and permit the execution of every such power as though no such law has been enacted. 

  
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 Section 4.06. Liens. 

Except as otherwise provided below pursuant to this Section 4.06, the Company shall not, and shall not permit any Restricted
Subsidiary to, issue, incur, create, assume, guarantee or otherwise have outstanding any Indebtedness secured by any mortgage, deed of trust, security interest, pledge, lien, charge or other encumbrance, each a “Lien” and
collectively “Liens,” upon any Principal Property or shares of Capital Stock or Indebtedness of a Restricted Subsidiary unless the Notes (and, at the Company’s option, any other indebtedness or guarantee ranking equally
with the Notes) are secured equally and ratably with (or at the Company’s option, prior to) such secured Indebtedness. This restriction will not apply to Indebtedness secured by: 

(a) Liens on property, shares of Capital Stock or Indebtedness of a Person existing at the time it becomes a Restricted Subsidiary or
Liens on any Principal Property created prior to the time such property became a Principal Property, provided, in each case, that such Liens were not created in anticipation of the transaction in which such entity becomes a Restricted Subsidiary;

 (b) Liens on property (and on any proceeds from the disposition of such property) acquired by the Company or a Restricted
Subsidiary existing at the time of acquisition by the Company or a Restricted Subsidiary, whether or not assumed by the Company or such Restricted Subsidiary; provided that no such Lien will extend to any other Principal Property of the Company or
any Restricted Subsidiary; 
 (c) Liens on property (and on any proceeds from the disposition of such property) acquired by the
Company or a Restricted Subsidiary and created prior to, at the time of, or within 360 days after the acquisition of such property, or the completion of construction, the completion of improvements or the commencement of substantial commercial
operation of such property, for the purpose of financing all or any part of the purchase price of such property, such construction or the making of such improvements; provided that such Liens will not extend to any other Principal Property of the
Company or the Company’s Restricted Subsidiaries other than, in the case of such construction or improvement, any theretofore unimproved real property on which the Principal Property so constructed, or the improvement, is located; 

(d) Liens in favor of the Company or a Restricted Subsidiary to secure Indebtedness owing to the Company or a Restricted Subsidiary;

 (e) Liens existing on the date hereof; 
 (f) Liens on property (and on any proceeds from the disposition of such property), shares of Capital Stock or Indebtedness of a Person existing at the time such Person is merged into or consolidated with
the Company or any Restricted Subsidiary or at the time of a sale, lease or other disposition of all or substantially all of the properties of a Person as an entirety or substantially as an entirety to the Company or any Restricted Subsidiary,
provided that the Lien was not incurred in contemplation of such merger or consolidation or sale, lease or other disposition; 

(g) Liens on property of the Company or the Company’s Restricted Subsidiaries in favor of governmental bodies to secure payments of
amounts owed under any contract or statute; 
 (h) Liens for taxes, assessments or governmental charges or claims that are not
yet delinquent or that are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded, provided that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been
made therefor; 
 (i) Liens to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or
other obligations of a like nature incurred in the ordinary course of business; 
 (j) Liens incurred or deposits made in the
ordinary course of business in connection with workers’ compensation, unemployment insurance or other kinds of social security; 

  
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 (k) Judgment Liens so long as any appropriate legal proceeding that may have been duly
initiated for the review of such judgment shall not have been finally terminated or the period within which such legal proceeding may be initiated shall not have expired; 
 (l) Liens created in connection with a project financed with, and created to secure, Non-Recourse Debt; and 
 (m) Any extension, renewal or replacement of any Lien referred to above or any Indebtedness secured by that Lien, provided that such extension, renewal or replacement Lien will secure no larger an amount
of Indebtedness than that existing at the time of such extension, renewal or replacement and will be limited to all or part of the same property and improvements thereon which secured the Loan extended, renewed or replaced. 

In addition, the Company or any Restricted Subsidiary may issue, incur, create, assume or guarantee Indebtedness secured by a Lien which
would otherwise be subject to the foregoing restrictions without equally and ratably securing the notes, provided that after giving effect to the Indebtedness secured by such Lien, the aggregate principal amount of all Indebtedness so secured by
Liens (not including Liens permitted above) and the Attributable Debt of Sale and Lease-Back Transactions permitted by the provisions described in Section 4.10 of this Indenture does not exceed 15% of Consolidated Net Tangible Assets.

 Section 4.07. Corporate Existence. 

The Company shall do or cause to be done all things necessary to preserve and keep in full force and effect (i) its corporate
existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary and
(ii) the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate,
partnership or other existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Subsidiaries, taken as a whole, and that
the loss thereof is not adverse in any material respect to the Holders of the Notes. 
 Section 4.08. Offer To
Repurchase Upon Change of Control Triggering Event. 
 (a) Upon the occurrence of a Change of Control Triggering Event,
each Holder of Notes of each series shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple thereof) of such Holder’s Notes pursuant to the offer described below (the
“Change of Control Offer”) at an offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon, if any, to the date of purchase (the “Change of Control
Payment”). Within ten days following any Change of Control Triggering Event, the Company shall mail a notice to each holder describing the transaction or transactions that constitute the Change of Control Triggering Event and offering
to repurchase notes on the date specified in such notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to
the procedures required by this Indenture and described in such notice. The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and
regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Triggering
Event provisions of this Indenture, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Triggering Event provisions of this Indenture by
virtue of such conflict. 
 (b) On the Change of Control Payment Date, the Company shall, to the extent lawful, (1) accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer, (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions thereof so tendered and
(3) deliver or cause to be delivered to the Trustee the Notes so accepted together with an Officer’s Certificate stating the aggregate principal amount of Notes or portions thereof being purchased by the Company. The Paying Agent will
promptly mail to each Holder of Notes so tendered the Change of Control Payment for such 

  
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 Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to
each holder a new note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note will be in a principal amount of $2,000 or an integral multiple of $1,000. The Company shall
publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 The Change of Control Triggering Event provisions described in Sections 4.08(a) and (b) shall be applicable whether or not any other provisions of this Indenture are applicable. 

(c) Notwithstanding anything to the contrary in this Section 4.08, the Company shall not be required to make a Change of Control
Offer upon a Change of Control Triggering Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth herein applicable to a Change of Control Offer made by the
Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or if the Company exercises its option to purchase the Notes. A Change of Control Offer may be made in advance of a Change of Control, conditional
upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 
 Section 4.09. Additional Subsidiary Guarantees. 
 If the Company
or any of its Domestic Subsidiaries shall acquire or create another Domestic Subsidiary after the date hereof and such Domestic Subsidiary provides a guarantee under the Credit Agreement, then such newly acquired or created Domestic Subsidiary shall
execute a supplemental indenture in form and substance substantially similar to Exhibit C attached hereto providing that such Domestic Subsidiary shall become a Subsidiary Guarantor under this Indenture. 

Section 4.10. Limitation on Sale and Lease-Back Transactions. 

Except as otherwise provided below, the Company shall not, and shall not permit any Restricted Subsidiary to, engage in any Sale and
Lease-Back Transactions of Principal Property, other than any such transaction involving a lease for a term of not more than three years or any such transaction between the Company and one of its Restricted Subsidiaries or between Restricted
Subsidiaries, unless at the effective time of such transaction: 
 (a) the Company or the Restricted Subsidiary is entitled,
pursuant to Section 4.06 without equally and ratably securing the Notes, to incur Indebtedness secured by a Lien in an amount at least equal to the Attributable Debt with respect to such Sale and Lease-Back Transaction; or 

(b) the Company or the Restricted Subsidiary applies, within 360 days of the closing date of the Sale and Lease-Back Transaction, an
amount equal to the greater of (1) the net proceeds of such sale or (2) the Attributable Debt with respect to such Sale and Lease-Back Transaction, to either (or a combination of) (x) the prepayment, defeasance or retirement (other
than any mandatory retirement, mandatory prepayment or sinking fund payment or payment at maturity) of Indebtedness of the Company or a Restricted Subsidiary maturing after, or renewable or extendable at the option of the Company or the relevant
Restricted Subsidiary beyond, twelve months from the date of determination (other than debt subordinate to the Notes or any Guarantee or debt to the Company or a Restricted Subsidiary); provided, however, the amount to be applied to the
prepayment or retirement of any such Indebtedness shall be reduced by the principal amount of any debt securities of the Company or the Company’s Restricted Subsidiaries delivered within 360 days after such Sale and Lease-Back Transaction
to the Trustee or Paying Agent for retirement and cancellation; or (y) the purchase, construction or development of other property, facilities or equipment. 

  
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 ARTICLE V 
 Consolidation, Merger, Sale, Conveyance or Lease 
 Section 5.01.
Consolidations and Mergers of Company and Conveyances Permitted Subject to Certain Conditions. 
 The Company shall not
consolidate with or merge with or into any other Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, and the Company shall not permit any Person to consolidate with or merge into the Company or
convey, transfer or lease its properties and assets substantially as an entirety to the Company, unless: 
 (1) in the event that
the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the Person formed by such consolidation or into which the Company is merged or the
Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation organized and validly existing under the laws of the United States of America, any state
thereof or the District of Columbia and, if the entity surviving such transaction or transferee entity is not the Company, then such surviving or transferee entity 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, if any, on all the Notes and the performance of every covenant of this Indenture on the part of the Company to
be performed or observed; 
 (2) at the time of consummation of such transaction, no Event of Default, and no event which, after
notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and 
 (3) the Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture, comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 Section 5.02. Rights and Duties of Successor Corporation. 
 Upon
any consolidation or merger by the Company with or into any other corporation or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety to any Person, in accordance with Section 5.01, 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, and thereafter, except in the case of a lease to another Person, the predecessor corporation shall be relieved of all obligations and covenants
under this Indenture and the Notes. 
 Such successor corporation thereupon may cause to be signed, and may issue either in its
own name or in the name of the Company, any or all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor corporation, instead of the Company,
and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall deliver any Notes which previously shall have been signed and delivered by the officers of the Company to the Trustee for
authentication, and any Notes which such successor corporation thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the Notes so issued shall in all respects have the same legal rank and benefit under this Indenture
as the Notes theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Notes had been issued at the date of the execution hereof. 
 In case of any such consolidation, merger, sale or conveyance such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate.

  
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 Section 5.03. Officers’ Certificate and Opinion of Counsel.

 The Trustee, subject to the provisions of Section 7.01, shall be provided with an Officers’ Certificate and
an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale or conveyance, and any such assumption, complies with the provisions of this Article V. 
 ARTICLE VI 
 DEFAULTS AND REMEDIES 

Section 6.01. Events of Default. 
 An “Event of Default” with respect to any series of Notes (and for purposes of this Indenture) occurs if: 
 (a) the Company defaults in the payment when due of interest on the Notes of such series and such default continues for a period of 30 days; 

(b) the Company defaults in the payment when due of principal of or premium, if any, on the Notes of such series when the same becomes due
and payable at maturity, upon redemption (including in connection with an offer to purchase) or otherwise; 
 (c) the Company or
any of its Subsidiaries fails to make the offer required or to purchase any of the Notes of such series as required by Section 4.08 hereof; 
 (d) the Company or any of its Subsidiaries fails to comply for 60 days after written notice to the Company by the Trustee or a Holder with any covenant, representation, warranty or other agreement in
this Indenture or the Notes of such series; 
 (e) a default occurs under any mortgage, indenture or instrument under which there
may be issued or by which there may be secured or evidenced any Indebtedness by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of the Restricted Subsidiaries), whether such Indebtedness
or Guarantee now exists, or is created after the date of this Indenture, which default results in the acceleration of such Indebtedness prior to its express maturity and, in each case, the principal amount of such Indebtedness aggregates
$75.0 million or more; 
 (f) except as permitted by this Indenture, any Subsidiary Guarantee of any Significant Subsidiary
(or any group of Subsidiaries that together would constitute a Significant Subsidiary) is held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Subsidiary Guarantor that is
a Significant Subsidiary, or any Person acting on behalf of any Subsidiary Guarantor that is a Significant Subsidiary, shall deny or disaffirm its obligations under such Subsidiary Guarantee; 

(g) the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that,
taken as a whole, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: 

(i) commences a voluntary case; 
 (ii) consents to the entry of an order for relief against it in an involuntary case; 
 (iii) consents to the appointment of a custodian of it or for all or substantially all of its property; 
 (iv) makes a general assignment for the benefit of its creditors; or 
 (v) generally is not paying its debts as they become due; and 

  
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 (h) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law
that: 
 (i) is for relief against the Company or any of its Significant Subsidiaries that are Restricted
Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary in an involuntary case; 
 (ii) appoints a custodian of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary or for all or substantially all of the property of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary; or 
 (iii) orders the liquidation of the Company or any of its Significant Subsidiaries
that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary; and the order or decree remains unstayed and in effect for 60 consecutive days. 

Section 6.02. Acceleration. 
 If any Event of Default (other than an Event of Default specified in clause (g) or (h) of Section 6.01 hereof with respect to the Company, any Significant Subsidiary that is a Restricted
Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary) occurs and is continuing with respect to the Notes of such series, the Trustee or the Holders of at least 25% in principal amount of
the then Outstanding Notes of such series may declare all the Notes of such series to be due and payable immediately. Upon any such declaration, the Notes shall become due and payable immediately. Notwithstanding the foregoing, if an Event of
Default specified in clause (g) or (h) of Section 6.01 hereof occurs, all Outstanding Notes of such series shall become due and payable without further action or notice. The Holders of a majority in aggregate principal amount of the
then Outstanding Notes by written notice to the Trustee may on behalf of all of the Holders of such series rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of
Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived. 
 Section 6.03. Other Remedies. 
 If an Event of Default occurs
and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest, if any, on the Notes of such series or to enforce the performance of any provision of the Notes or this Indenture.

 The Trustee may maintain a proceeding even if it does not possess any of the Notes of such series or does not produce any of
them in the proceeding. A delay or omission by the Trustee or any Holder of a Note of such series in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in
the Event of Default. All remedies are cumulative to the extent permitted by law. 
 Section 6.04. Waiver of Past
Defaults. 
 Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes of a series
by written notice to the Trustee may on behalf of the Holders of all of the Notes of such series waive an existing Default or Event of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the
principal of, premium, if any, or interest on, the Notes; provided, however, that after any acceleration, but before a judgment or decree based on acceleration is obtained by the Trustee, the Holders of a majority in aggregate
principal amount of the Notes of such series then Outstanding may rescind and annul such acceleration if all Events of Default, other than the nonpayment of accelerated principal, premium, or interest, have been cured or waived as provided in this
Indenture. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; provided, however, that no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon. 

  
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 Section 6.05. Control by Majority. 

Subject to Section 7.01, in case an Event of Default shall occur and be continuing, the Trustee will be under no obligation to
exercise any of its rights or powers under this Indenture at the request or direction of any of the Holders, unless such Holders shall have offered to the Trustee reasonable indemnity against any loss, liability or expense. Subject to
Section 7.07, the Holders of a majority in aggregate principal amount of the Notes of a series then Outstanding will have the right to direct the time, method and place of conducting any proceeding for exercising any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee with respect to the Notes in respect of such series. Notwithstanding the foregoing, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the
Trustee determines may be unduly prejudicial to the rights of other Holders of Notes of such series or that may involve the Trustee in personal liability. 
 Section 6.06. Limitation on Suits. 
 A Holder of a Note of a
series may pursue a remedy with respect to this Indenture or the Notes of such series only if: 
 (a) the Holder of a Note of
such series gives to the Trustee written notice of a continuing Event of Default; 
 (b) the Holders of at least 25% in principal
amount of the then Outstanding Notes of such series make a written request to the Trustee to pursue the remedy; 
 (c) such
Holder of a Note or Holders of Notes of such series offer and, if requested, provide to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; 

(d) the Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested, the
provision of indemnity; and 
 (e) during such 60-day period the Holders of a majority in aggregate principal amount of the then
Outstanding Notes of such series do not give the Trustee a direction inconsistent with the request. 
 A Holder of a Note of any
series may not use this Indenture to prejudice the rights of another Holder of a Note of such series or to obtain a preference or priority over another Holder of a Note of such series. 

Section 6.07. Rights of Holders of Notes to Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of principal, premium, if any,
and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be
impaired or affected without the consent of such Holder. 
 Section 6.08. Collection Suit by Trustee.

 If an Event of Default specified in Section 6.01(a) or (b) occurs and is continuing, the Trustee is
authorized to recover judgment in its own name and as Trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on the Notes of a series and interest on overdue principal
and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

  
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 Section 6.09. Trustee May File Proofs of Claim. 

The Trustee is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes of a series allowed in any judicial proceedings relative to the
Company (or any other obligor upon the Notes of such series), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any
custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any
amount due to 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 7.07 of this Indenture. To the extent that the payment of any
such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 of this Indenture out of the estate in any such proceeding, shall be denied for any reason,
payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under
any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize 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, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 Section 6.10. Priorities. 
 If the Trustee collects any money in
respect of the Notes of any series pursuant to this Article VI, it shall pay out the money in the following order: 

First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 of this Indenture, including payment of
all compensation, expense and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 
 Second: to Holders of the Notes of such series for amounts due and unpaid on such Notes for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according
to the amounts due and payable on such Notes for principal, premium, if any, and interest, respectively; and 
 Third: to
the Company or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment
date for any payment to Holders of the Notes pursuant to this Section 6.10. 
 Section 6.11. Undertaking for
Costs. 
 In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee
for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. 

This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note of a series pursuant to Section 6.07
hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then Outstanding Notes of such series. 

  
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 ARTICLE VII 

TRUSTEE 

Section 7.01. Certain Duties and Responsibilities of Trustee. 

(a) Except during the continuance of an Event of Default, 
 (1) the Trustee undertakes to perform such duties, and only such duties, as are specifically set forth in this Indenture or the TIA, 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 substantially conform to the requirements of this Indenture (but need not confirm
or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (b) In case an Event of Default
actually known to a Responsible Officer of the Trustee with respect to the Notes of a series has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture with respect to such series, and use
the same degree of care and skill in its 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: 
 (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 or omitted to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section 6.04 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) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the
exercise of any of its rights or powers. 
 (d) The Trustee shall not be obligated to pay interest on any money or other assets
received by it unless otherwise agreed with the Company. Assets held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 (e) 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 7.02. Notice of Defaults. 

Within 90 days after the occurrence of any default with respect to the Notes of any series, the Trustee shall transmit by mail to all
Holders of Notes of that series, as their names and addresses appear in the register of the 

  
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 Registrar, notice of all defaults with respect to that series actually known to a Responsible Officer of the
Trustee, unless such defaults shall have been cured or waived before the giving of such notice; 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 of the Notes of
such series or in the making of any sinking fund payment with respect to 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 determines that the withholding of such notice is in the interests of the Holders. For the purpose of this Section 7.02, the term “default” means any event which is, or after
notice or lapse of time or both would become, an Event of Default. 
 Section 7.03. Certain Rights of Trustee.

 Except as otherwise provided in Section 7.01: 

(a) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture or other paper or document (whether in its original or facsimile form) believed by it to be genuine and to have been signed or presented by the
proper party or parties; 
 (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 may 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, conclusively rely upon an Officers’ Certificate; 
 (d) the Trustee may consult with the counsel of its own selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action
taken, 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 pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities which might be incurred by it in complying 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 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 at the expense of the Company and shall incur no liability of any kind by reason of such inquiry or investigation; 

(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 or attorney appointed with due care by it hereunder; 
 (h) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which
is in fact such a default is received by the Trustee pursuant to Section 12.02, and such notice references the Notes and this Indenture; 

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

(j) the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in
any such certificate previously delivered and not superseded. 
 Section 7.04. Not Responsible for Recitals or
Issuance of Notes. 
 The recitals contained herein and in the Notes, except the Trustee’s certificate of
authentication, shall be taken as the statements of the Company, and the Trustee and any Authenticating Agent assume no responsibility for their correctness. The Trustee and any Authenticating Agent make no representations as to the validity or
sufficiency of this Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 
 Section 7.05. May Hold Notes. 
 The Trustee, any Paying Agent,
Registrar, Authenticating Agent or any other agent of the Company or of the Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and, subject to Sections 7.08 and 7.13, may otherwise deal with the Company
with the same rights it would have if it were not Trustee, Paying Agent, Registrar, Authenticating Agent or such other agent. 

Section 7.06. Money Held in Trust. 
 Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it
hereunder except as otherwise agreed in writing with the Company. 
 Section 7.07. Compensation and Reimbursement.

 The Company agrees: 
 (1) to pay to the Trustee from time to time such compensation as the Company and the Trustee shall from time to time agree in writing 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 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 shall be determined by a court of competent jurisdiction to have been caused by its own negligence or willful misconduct;
and 
 (3) to fully indemnify the Trustee, any predecessor Trustee and their agents for, and to hold them harmless against, any
and all loss, liability, claim, damage, taxes (other than taxes based upon the income of the Trustee) or expense (including reasonable legal fees and expenses) incurred without negligence or willful misconduct on their part, arising out of or in
connection with the acceptance or administration of this trust, including the costs and expenses of defending themselves against any claim (whether asserted by the Company, or any Holder or any other Person) or liability in connection with the
exercise or performance of any of their powers or duties hereunder. 
 As security for the performance of the obligations of the
Company under this Section 7.07, the Trustee shall have a lien prior to the Notes upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (or premium, if any) or interest
on Notes. 

  
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 When the Trustee incurs expenses or renders services in connection with an Event of Default
specified in Section 6.01(g) or Section 6.01(h), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable
federal or state bankruptcy, insolvency or other similar law. 
 The provisions of this Section 7.07 shall survive the
termination of this Indenture and the resignation or removal of the Trustee. 
 Section 7.08. Disqualification;
Conflicting Interests. 
 The Trustee for the Notes shall be subject to the provisions of Section 310(b) of the TIA
during the period of time required thereby. Nothing herein shall prevent the Trustee from filing with the SEC the application referred to in the penultimate paragraph of Section 310(b) of the TIA. In determining whether the Trustee has a
conflicting interest as defined in Section 310(b) of the TIA with respect to the Notes of any series, there shall be excluded Notes of any particular series of Notes other than that series. 

Section 7.09. Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder which shall be: 
 (1) 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, and subject to supervision or examination by federal or state authority, or 
 (2) a corporation or other Person
organized and doing business under the laws of a foreign government that is permitted to act as a Trustee pursuant to a rule, regulation, or other order of the SEC, authorized under such laws to exercise corporate trust powers, and subject to
supervision or examination by authority of such foreign government or a political subdivision thereof substantially equivalent to supervision or examination applicable to a United States institutional trustee, 

having a combined capital and surplus of at least $50,000,000 and having a corporate trust office in the Borough of Manhattan, the City of New York. If
such corporation publishes reports of condition at least annually, pursuant to law or to requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation
shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under the common control with the
Company shall serve as Trustee for the Notes. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereunder specified in this Article.

 Section 7.10. 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 VII shall become
effective until the acceptance of appointment by the successor Trustee under Section 7.11. 
 (b) The Trustee may resign at
any time with respect to one or more or all series of Notes by giving written notice thereof to the Company. If an instrument of acceptance by a successor Trustee required by Section 7.11 shall not have been delivered to the Trustee within 30
days after the giving of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Notes of such series.

 (c) The Holders of a majority in aggregate principal amount of the Notes of one or more series (each series voting as a class)
or all series at the time Outstanding may at any time remove the Trustee with respect to the applicable series or all series, as the case may be, and by written notice of such action to the Company, the Trustee and the successor Trustee, nominate
with respect to the applicable series or all series, as the case may be, a successor 

  
 39 

 Trustee, which shall be deemed appointed as successor Trustee with respect to the applicable series unless
within ten days after such nomination the Company objects thereto, in which case the Trustee so removed or any Holder of Notes of the applicable series who has been a bona fide holder of a Note or the applicable series for at least six months may,
subject to the provisions of Section 6.11 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 such series. 

(d) If at any time: 
 (1) the Trustee shall fail to comply with Section 310(b) of the TIA pursuant to Section 7.08 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder
of a Note for at least six months, unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b) of the TIA, or 
 (2) the Trustee shall cease to be eligible under Section 7.09 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 a decree or order for relief by a court having jurisdiction in the
premises shall have been entered in respect of the Trustee in an involuntary case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state, bankruptcy, insolvency or similar law; or a decree or
order by a court having jurisdiction in the premises for the appointment of a receiver or custodian or liquidator or trustee or assignee in bankruptcy or insolvency of the Trustee or of its property, or for the winding up of its affairs shall have
been entered, or 
 (4) the Trustee shall commence a voluntary case under the federal bankruptcy laws, as now or
hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or similar law, or shall consent to the appointment of a receiver or custodian or liquidator or trustee or assignee in bankruptcy or insolvency of it or of its
property, or shall make an assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or corporate action shall be taken by the Trustee in furtherance of any such action, 

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee, or (ii) subject to
Section 6.11, any Holder who has been a bona fide Holder of a Note 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. 
 (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 Notes of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee to the vacated office. If, within one year after such resignation,
removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Notes of any series shall be appointed by act of the Holders of a majority in principal amount of the Outstanding Notes 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 Notes of such series and supersede the successor Trustee appointed by
the Company. If no successor Trustee shall have been so appointed by the Company or the Holders and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Note of such series for at least six months
may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Notes of such series. 

(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Notes of any series and each
appointment of a successor Trustee with respect to the Notes of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Notes of such series as their names and addresses appear in the Note Register.
Each notice shall include the name of the successor Trustee with respect to the Notes of such series and the address of its Corporate Trust Office. 

  
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 Section 7.11. Acceptance of Appointment by Successor. 

Every successor Trustee appointed hereunder 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 lien, if any, provided for in
Section 7.07. Upon request of any such successor Trustee, the Company shall execute any and all instruments fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts. 

In case of the appointment hereunder of a successor Trustee with respect to the Notes of one or more (but not all) series, the Company,
the predecessor Trustee and each successor Trustee with respect to the Notes of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm
that all the rights, powers, trusts and duties of the predecessor Trustee with respect to the Notes of any series as to which the predecessor Trustee is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such trustees, co-trustees of the same trust and that each trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such trustee. 

No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article VII. 
 Section 7.12. Merger, Conversion, Consolidation or Succession to Business.

 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder, provided 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 Note 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 Notes so authenticated with the same effect as if such
successor Trustee had itself authenticated such Notes. 
 Section 7.13. Preferential Collection of Claims Against
Company. 
 (a) Subject to Section 7.13(b), 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 Section 7.13(c), or subsequent to such a 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 Notes and the holders of other indenture securities, as defined in Section 7.13(c): 

(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) below, or from the exercise of any right of set-off which the Trustee could have exercised if a petition in bankruptcy had been filed by or against the Company 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. 

  
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 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 for reorganization pursuant to the federal bankruptcy laws, as now or hereafter constituted, or any other federal or state bankruptcy, insolvency or 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 or 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 Section 7.13(c) would occur within
three months; or 
 (D) to receive payment on any claim referred to in paragraphs (B) or (C) above,
against the release of any property held as security for such claim as provided in paragraphs (B) or (C) above, as the case may be, to the extent of the fair value of such property. 

For the purposes of paragraphs (B), (C) and (D) above, 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 set aside and hold such a special account, the funds and property held in such special account and
the proceeds thereof shall be apportioned between 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 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 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 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
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 between 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

  
 42 

 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 claims, or otherwise to apply the provision of this paragraph as a mathematical formula. 

Any Trustee which has resigned or been removed after the beginning of such three-month period shall be subject to the provisions of this
Section 7.13(a) 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-months 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 Section 7.13(a) a creditor relationship arising from: 
 (1) the ownership or acquisition of securities issued under any indenture, or any securities 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 that 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 Section 7.13(c); 
 (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 or an obligor under the Notes; or 

(6) the acquisition, ownership, acceptance or negotiation of any drafts, bills of exchange, acceptances or obligations
that fall within the classification of self-liquidating paper as defined in Section 7.13(c). 
 (c) For the purpose of this
Section 7.13 only: 
 (1) The term “default” means any failure to make payment in full of the
principal of or interest on any of the Notes 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 7.13, and (iii) under which a default exists at the time of the apportionment of the funds and property held in such special account. 

  
 43 

 (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 or bankers 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 Notes. 

Section 7.14. Appointment of Authenticating Agent. 

At any time when any of the Notes remain Outstanding the Trustee may appoint an Authenticating Agent or Agents which shall be authorized
to act on behalf of the Trustee to authenticate Notes issued upon exchange, transfer or partial redemption thereof or pursuant to Section 2.08, and Notes so authenticated shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Notes by the Trustee or the Trustee’s certificate of authentication, such reference
shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a bank or trust company or corporation organized and doing business and in good standing under the laws of the United States of America, or of any state thereof, authorized under such laws to act
as Authenticating Agent, having a combined capital and surplus of not less than $1,500,000 and subject to supervision or examination by federal or state authorities. If such Authenticating Agent 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 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. In case at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the
manner and with the effect specified in this Section. 
 Any corporation into which an Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust
business of an Authenticating Agent, shall continue to be an Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may
at any time terminate the agency of an Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall mail notice of such appointment to all
Holders, as their names and addresses appear on the register of the Registrar. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder,
with like effect as if originally named as an Authenticating Agent herein. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this
Section 7.14. 

  
 44 

 If an appointment is made pursuant to this Section, the Notes shall have endorsed thereon,
in addition to the Trustee’s certificate, an alternate Trustee’s certificate in the following form: 
 This is one of
the Notes described in the within-mentioned Indenture. 
  

			
	 	 	 U.S. Bank National Association,
 as Trustee

		
	 By
	 	  

		 	Authenticating Agent
		
	 By
	 	  

		 	Authorized Signatory
		
	 Dated:
	 	

 Section 7.15. Company to Furnish Trustee Names and Addresses of Holders.

 The Company will furnish or cause to be furnished to the Trustee: 

(a) semi-annually (and not more than 15 days after each regular record date of each series of Notes having such a regular record
date), a list, in such form as the Trustee may reasonable require, of the names and addresses of the Holders as of such regular record date, 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, excluding from any such list names and addresses received by the Trustee in the capacity of Registrar if the Trustee is then acting in such capacity. 

Section 7.16. Preservation of Information; Communications to Holders. 

(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 7.15 and the names and addresses of Holders received by the Trustee in the capacity of Registrar if the Trustee is then acting in such capacity. The Trustee may destroy any list
furnished to it as provided in Section 7.15 upon receipt of a new list so furnished. 
 (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 Note 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 with respect to their rights under this Indenture or under the Notes 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 7.16(a), or 

(ii) inform such applicants as to the approximate number of Holders whose names and addresses appear in the information
preserved at the time by the Trustee in accordance with Section 7.16(a), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if any, specified in such application. 

If the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written request of such
applicants, mail to each Holder whose name and address appears in the information preserved at the time by the Trustee in accordance with Section 7.16(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 

  
 45 

 
material to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless with five days after such tender, the Trustee shall mail to such applicants and
file with the SEC, 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 or would be in violation of applicable
law. Such written statement shall specify the basis of such opinion. If the SEC, 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 SEC 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 Notes, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company
nor the Trustee nor any Authenticating Agent nor any Paying Agent nor any Registrar 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 7.16(b),
regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 7.16(b). 

Section 7.17. Reports by Trustee to Holders of Notes. 

(a) Within 60 days after March 15 of each year commencing with the year 2012, the Trustee shall transmit by mail to all
Holders, as their names and addresses appear in the Registrar, a brief report dated as of March 15 with respect to any of the following events which may have occurred within the prior 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 7.09 and its
qualifications under Section 7.08; 
 (2) the creation of any material change to a relationship specified in
Section 310(b)(1) through Section 310(b)(10) of the TIA; 
 (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) that 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 Notes, 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 Notes 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 by any other obligor on the Notes) 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 7.13(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 Notes which the Trustee has not previously reported; and 

(7) any action taken by the Trustee in the performance of its duties hereunder that it has not previously reported and
that in its opinion materially affects the Notes, except action in respect of a default, notice of which has been or is to be withheld by the Trustee in accordance with Section 7.02. 

  
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 (b) The Trustee shall transmit by mail to all Holders, as their names and addresses appear
in the Registrar, 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 Notes, 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 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 Outstanding Notes at such time, such report to be transmitted within 90 days after such time. 

(c) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange
upon which the Notes are listed and also with the SEC. The Company will notify the Trustee when the Notes are listed on any securities exchange. 
 Section 7.18. Reports by Company. 
 The Company will:

 (1) file with the Trustee, within 15 days after the Company files them with the SEC, 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 SEC may from time to time by rules and regulations prescribe) which the Company may be required to file with the SEC pursuant to Section 13 or
Section 15(d) of the Exchange Act; provided, however, that the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and obtained confidential treatment from the SEC; or, if the
Company is not required to file information, documents or reports pursuant to either of said Sections, then it will file with the Trustee and the SEC, in accordance with rules and regulations prescribed from time to time by the SEC, such of the
supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a National Securities Exchange as may be prescribed from time to
time in such rules and regulations; 
 (2) file with the Trustee and the SEC, in accordance with rules and regulations prescribed
from time to time by the SEC, 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 by mail to all Holders, as their names and addresses appear in the register of the Registrar, 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 7.18 as may be required by rules and
regulations prescribed from time to time by the SEC. 
 Delivery of such reports, information and documents to the Trustee is
for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any
of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

ARTICLE VIII 
 LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 Section 8.01. Option
to Effect Legal Defeasance or Covenant Defeasance. 
 The Company may, at the option of its Board of Directors evidenced
by a resolution set forth in an Officer’s Certificate, at any time, elect to have either Section 8.02 or 8.03 hereof be applied to all Outstanding Notes of a series upon compliance with the conditions set forth below in this
Article VIII. 

  
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 Section 8.02. Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company shall,
subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been discharged from its obligations with respect to all Outstanding Notes of the applicable series and to have each Subsidiary Guarantor’s
obligation discharged with respect to its Subsidiary Guarantee of such series 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 Outstanding Notes of the applicable series, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 8.05
hereof and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its other obligations under such Notes and this Indenture with respect to such series (and the Trustee, on demand of and at the
expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of Outstanding Notes of a
series to receive solely out of the trust fund described in Section 8.04 hereof, and as more fully set forth in such Section, payments in respect of the principal of, premium, if any, and interest if any, on such Notes when such payments are
due, (b) the Company’s obligations with respect to such Notes of the applicable series under Article II and Section 4.02 hereof, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the
Company’s and the Subsidiary Guarantors’ obligations in connection therewith and (d) this Article VIII. Subject to compliance with this Article VIII, the Company may exercise its option under this Section 8.02
notwithstanding the prior exercise of its option under Section 8.03 hereof. 
 Section 8.03. Covenant
Defeasance. 
 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03, the Company and each Subsidiary Guarantor shall, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from their obligations under the covenants contained in Sections 4.06, 4.07,
4.08, 4.09 and 4.10 hereof with respect to the Outstanding Notes of the applicable series on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes of such series shall thereafter be deemed not “Outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall
continue to be deemed “Outstanding” for all other purposes hereunder (it being understood that such Notes shall not be deemed Outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
Outstanding Notes of the applicable series, the Company and each Subsidiary Guarantor may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly,
by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of
Default under Section 6.01 hereof with respect to the Notes of the applicable series, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition, upon the Company’s exercise
under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(d) and 6.01(e) hereof shall not constitute Events of Default
with respect to the Notes of the applicable series. 
 Section 8.04. Conditions to Legal or Covenant Defeasance.

 The following shall be the conditions to the application of either Section 8.02 or 8.03 hereof to the
Outstanding Notes of a series: 
 In order to exercise either Legal Defeasance or Covenant Defeasance: 

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

  
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 (b) in the case of an election under Section 8.02 hereof, the Company shall deliver to
the Trustee an Opinion of Counsel reasonably acceptable to the Trustee (subject to customary exceptions and exclusions) confirming that (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or
(b) since the date of this Indenture, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the Holders of the Outstanding Notes of such
series will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case
if such Legal Defeasance had not occurred; 
 (c) in the case of an election under Section 8.03 hereof, the Company shall
deliver to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee (subject to customary exceptions and exclusions) confirming that the Holders of the Outstanding Notes of such series will not recognize income, gain or loss for
federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 (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 incurrence of Indebtedness all or a portion of the proceeds of which will be used to defease the Notes of such series pursuant to this Article VIII concurrently with such incurrence or the granting of Liens
in connection therewith) or insofar as Sections 6.01(f) or 6.01(g) hereof are concerned, at any time in the period ending on the effective date of such defeasance; 
 (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the
Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 
 (f) the Company
shall have delivered to the Trustee, at or prior to the effective date of such defeasance, an Opinion of Counsel to the effect that, assuming no intervening bankruptcy of the Company between the date of deposit and the 91st day following the deposit
and assuming that no Holder is one of the Company’s “insiders” under applicable bankruptcy law and subject to customary exceptions and exclusions, after the 91st day following the deposit, the trust funds will not be subject to
the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally; 

(g) the Company shall have delivered to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders of such series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(h) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be, have been complied with. 
 Section 8.05. Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof, all money and Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying Trustee, collectively for purposes of this
Section 8.05, the “Trustee”) pursuant to Section 8.04 hereof in respect of the Outstanding Notes of a series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and
this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. 

The Company and the Subsidiary Guarantors shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed
against the cash or Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the
Outstanding Notes of such series. 

  
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 Anything in this Article VIII to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon the request of the Company any money or Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance. 
 Section 8.06. Repayment to Company. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of,
premium, if any, or interest on any Note 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 on its request or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Note shall thereafter, as a secured 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 published once, in the
New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any
unclaimed balance of such money then remaining will be repaid to the Company. 
 Section 8.07. Reinstatement.

 If the Trustee or Paying Agent is unable to apply any United States dollars or Government Securities in accordance
with Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this
Indenture and the Notes of the applicable series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in
accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any such Note following the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 
 ARTICLE IX 
 AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01. Without Consent of Holders of Notes. 

Notwithstanding Section 9.02 of this Indenture, the Company, the Subsidiary Guarantors and the Trustee may amend or supplement this
Indenture, the Subsidiary Guarantees or the Notes without the consent of any Holder of a Note: 
 (a) to cure any ambiguity,
defect or inconsistency; 
 (b) to provide for the assumption by a successor corporation of the obligations of the Company under
this Indenture in the case of a merger or consolidation or sale of all or substantially all of the Company’s assets; 
 (c)
to provide for uncertificated Notes in addition to or in place of certificated Notes; 
 (d) to make any change that would
provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights hereunder of any such Holder; 

  
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 (e) to make any change to comply with any requirement of the SEC in order to effect or
maintain the qualification of this Indenture under the TIA; 
 (f) to provide for the issuance of Additional Notes or Exchange
Notes or 
 (g) to allow any Subsidiary Guarantor to execute a supplemental indenture for the purpose of providing a Subsidiary
Guarantee with respect to the Notes. 
 Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described under Section 7.03 of this Indenture, the Trustee shall join with the Company and the Subsidiary Guarantors in
the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to
enter into such amended or supplemental indenture that affects its own rights, duties, liabilities or immunities under this Indenture or otherwise. 
 Section 9.02. With Consent of Holders of Notes. 
 Except as
provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture (including Section 4.08 hereof), the Subsidiary Guarantees and the Notes of a series with the consent of the Holders of at least a
majority in aggregate principal amount of the Notes of such series, including Additional Notes, if any, then Outstanding voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange
offer for, or purchase of, the Notes), and, subject to Section 6.04 and Section 6.07 hereof, any existing Default or Event of Default (except a continuing Default or Event of Default in the payment of interest, premium, if any, or the
principal of, the applicable Notes, except a payment default resulting from an acceleration that has been rescinded) or compliance with any provision of this Indenture or the Notes of a series may be waived with the consent of the Holders of a
majority in aggregate principal amount of the Notes of such series, including Additional Notes, if any, then Outstanding voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange
offer for, or purchase of, the Notes). 
 Upon the request of the Company accompanied by a resolution of the Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the
documents described under Section 7.03 of the Indenture, the Trustee shall join with the Company in the execution of such amended or supplemental indenture, unless such amended or supplemental indenture directly affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such amended or supplemental indenture. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any
indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; provided, that unless such consent shall have become effective by virtue of the requisite percentage having been obtained prior to the date which is 90 days after such record date, any such consent
previously given shall automatically and without further action by any Holder be cancelled and of no further effect. 
 It shall
not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holders to such
Holder’s address appearing in the register of the Registrar a notice briefly describing the amendment, supplement or waiver. 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 amended or supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes, including Additional Notes, if any, then Outstanding voting as
a single class may waive compliance in a particular instance by the Company with any provision of this Indenture or the Notes. Without the consent of each Holder affected, an amendment or waiver under this Section 9.02 may not (with respect to
any Notes held by a non-consenting Holder): 

  
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 (a) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver; 
 (b) reduce the principal of or change the fixed maturity of any Note or change the optional redemption
dates (other than the number of days for any required advance notice provisions) or optional redemption prices from those provided in Section 3.07 hereof; 
 (c) make any change in the provisions of Section 4.08; 
 (d) reduce the rate
of or change the time for payment of interest on any Note; 
 (e) waive a Default or Event of Default in the payment of principal
of, or interest or premium on the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal amount of the then Outstanding Notes of a series and a waiver of the payment default that resulted
from such acceleration); 
 (f) make any Note payable in a currency other than that stated in the Notes; 

(g) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Notes to receive
payments of principal of, or interest or premium on the Notes; 
 (h) waive a redemption payment with respect to any Note other
than a payment required by Section 4.08 hereof; 
 (i) release any Subsidiary Guarantor from any of its obligations under
its Subsidiary Guarantee or this Indenture, except in accordance with the terms hereof; or 
 (j) make any change in the
preceding amendment and waiver provisions. 
 Section 9.03. Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended or supplemental indenture that complies with
the TIA as then in effect. 
 Section 9.04. Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of
a Note and every subsequent Holder of a Note or portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of
a Note may revoke the consent as to its Note if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance with its
terms and thereafter binds every Holder. 
 Section 9.05. Notation on or Exchange of Notes. 

The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company
in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver. 

  
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 Section 9.06. Trustee to Sign Amendments, Etc. 

The Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article IX if the amendment or supplement
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture until the Board of Directors approves it. In executing any amended or supplemental indenture, the
Trustee shall be entitled to receive and (subject to Section 7.01) shall be fully protected in relying upon an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental indenture is
authorized or permitted by this Indenture, and that such amended or supplemental indenture is the legal, valid and binding obligations of the Company enforceable against it in accordance with its terms, subject to customary exceptions, and that such
amended or supplemental indenture complies with the provisions hereof (including Section 9.03). 
 ARTICLE X

 SUBSIDIARY GUARANTEES 
 Section 10.01. Guarantee. 
 Subject to this Article X, each
of the Subsidiary Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and
enforceability of this Indenture, the Notes or the obligations of the Company hereunder or thereunder, that: (a) the principal of, and interest on, the Notes will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary Guarantors
shall be jointly and severally obligated to pay the same immediately. Each Subsidiary Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 
 Each Subsidiary Guarantor hereby agrees that its obligations with regard to this Subsidiary Guarantee shall be joint and several, unconditional, irrespective of the validity or enforceability of the Notes
or the obligations of the Company under this Indenture, the absence of any action to enforce the same, the recovery of any judgment against the Company or any other obligor with respect to this Indenture, the Notes or the Obligations of the Company
under this Indenture or the Notes, any action to enforce the same or any other circumstances (other than complete performance) which might otherwise constitute a legal or equitable discharge or defense of a Subsidiary Guarantor. Each Subsidiary
Guarantor further, to the extent permitted by law, waives and relinquishes all claims, rights and remedies accorded by applicable law to guarantors and agrees not to assert or take advantage of any such claims, rights or remedies, including but not
limited to: (a) any right to require any of the Trustee, the Holders or the Company (each a “Benefited Party”), as a condition of payment or performance by such Subsidiary Guarantor, to (1) proceed against the
Company, any other guarantor (including any other Subsidiary Guarantor) of the Obligations under the Subsidiary Guarantees or any other Person, (2) proceed against or exhaust any security held from the Company, any such other guarantor or any
other Person, (3) proceed against or have resort to any balance of any deposit account or credit on the books of any Benefited Party in favor of the Company or any other Person, or (4) pursue any other remedy in the power of any Benefited
Party whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other defense of the Company including any defense based on or arising out of the lack of validity or the unenforceability of the
Obligations under the Subsidiary Guarantees or any agreement or instrument relating thereto or by reason of the cessation of the liability of the Company from any cause other than payment in full of the Obligations under the Subsidiary Guarantees;
(c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon any
Benefited Party’s errors or omissions in the administration of the Obligations under the Subsidiary Guarantees, except behavior which amounts to bad faith; (e)(1) any principles or provisions of law, statutory or otherwise, which are or might
be in conflict with the terms of the Subsidiary Guarantees and any legal or equitable discharge of such Subsidiary Guarantor’s 

  
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 obligations hereunder, (2) the benefit of any statute of limitations affecting such Subsidiary
Guarantor’s liability hereunder or the enforcement hereof, (3) any rights to set-offs, recoupments and counterclaims and (4) promptness, diligence and any requirement that any Benefited Party protect, secure, perfect or insure any
security interest or lien or any property subject thereto; (f) notices, demands, presentations, protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance of the Subsidiary Guarantees, notices
of default under the Notes or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Obligations under the Subsidiary Guarantees or any agreement related thereto, and notices of any extension of credit
to the Company and any right to consent to any thereof; (g) to the extent permitted under applicable law, the benefits of any “One Action” rule and (h) any defenses or benefits that may be derived from or afforded by law which
limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms of the Subsidiary Guarantees. Each Subsidiary Guarantor hereby covenants that its Subsidiary Guarantee shall not be discharged except by complete
performance of the obligations contained in its Subsidiary Guarantee and this Indenture. 
 If any Holder or the Trustee is
required by any court or otherwise to return to the Company, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Subsidiary Guarantors, any amount paid by either
to the Trustee or such Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 Each Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby. Each Subsidiary Guarantor further agrees that, as between the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby may
be accelerated as provided in Section 6.02 hereof for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby and
(y) in the event of any declaration of acceleration of such obligations as provided in Section 6.02 hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by the Subsidiary Guarantors for the
purpose of this Subsidiary Guarantee. The Subsidiary Guarantors shall have the right to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of such right does not impair the rights of the Holders under the Subsidiary
Guarantee. 
 Section 10.02. Limitation on Subsidiary Guarantor Liability. 

Each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that
the Subsidiary Guarantee of such Subsidiary Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law
to the extent applicable to any Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Subsidiary Guarantors hereby irrevocably agree that the obligations of such Subsidiary Guarantor under its Subsidiary
Guarantee and this Article X shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Subsidiary Guarantor that are relevant under such laws, and after
giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary Guarantor under this Article X, result in the
obligations of such Subsidiary Guarantor under its Subsidiary Guarantee not constituting a fraudulent transfer or conveyance. 

Section 10.03. Execution and Delivery of Subsidiary Guarantee. 

To evidence its Subsidiary Guarantee set forth in Section 10.01, each Subsidiary Guarantor hereby agrees that a notation of such
Subsidiary Guarantee substantially in the form included in Exhibit D shall be endorsed by an Officer of such Subsidiary Guarantor on each Note authenticated and delivered by the Trustee, and that this Indenture shall be executed on behalf of
such Subsidiary Guarantor by its President or one of its Vice Presidents. 
 Each Subsidiary Guarantor hereby agrees that its
Subsidiary Guarantee set forth in Section 10.01 shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Subsidiary Guarantee. 

  
 54 

 If an Officer whose signature is on this Indenture or on the Subsidiary Guarantee no longer
holds that office at the time the Trustee authenticates the Note on which a Subsidiary Guarantee is endorsed, the Subsidiary Guarantee shall be valid nevertheless. 
 The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the Subsidiary
Guarantors. 
 In the event that the Company creates or acquires any new Subsidiaries subsequent to the date of this Indenture,
if required by Section 4.09 hereof, the Company shall cause such Subsidiaries to execute supplemental indentures to this Indenture and Subsidiary Guarantees in accordance with Section 4.09 hereof and this Article X, to the extent
applicable. 
 Section 10.04. Subsidiary Guarantors May Consolidate, Etc., on Certain Terms. 

No Subsidiary Guarantor may consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person)
another corporation, Person or entity whether or not affiliated with such Subsidiary Guarantor unless: 
 (a) subject to
Section 10.05 hereof, the Person formed by or surviving any such consolidation or merger (if other than a Subsidiary Guarantor or the Company) unconditionally assumes all the obligations of such Subsidiary Guarantor pursuant to a supplemental
indenture in form and substance reasonably satisfactory to the Trustee, under the Notes, this Indenture and the Subsidiary Guarantee on the terms set forth herein or therein; and 

(b) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing. 

In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture,
executed and delivered to the Trustee and satisfactory in form to the Trustee, of the Subsidiary Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the
Subsidiary Guarantor, such successor Person shall succeed to and be substituted for the Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary Guarantor. Such successor Person thereupon may cause to be signed any or
all of the Subsidiary Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. All the Subsidiary Guarantees so issued shall in all respects have the
same legal rank and benefit under this Indenture as the Subsidiary Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Subsidiary Guarantees had been issued at the date of the execution
hereof. 
 Except as set forth in Article IV and Article V hereof, and notwithstanding clauses (a) and
(b) above, nothing contained in this Indenture or in any of the Notes shall prevent any consolidation or merger of a Subsidiary Guarantor with or into the Company or another Subsidiary Guarantor, or shall prevent any sale or conveyance of the
property of a Subsidiary Guarantor as an entirety or substantially as an entirety to the Company or another Subsidiary Guarantor. 
 Section 10.05. Releases of Subsidiary Guarantee. 
 In the event
of (a) the release or discharge of the Guarantee of the Credit Agreement by a Subsidiary Guarantor, except a discharge or release by or as a result of payment under such Guarantee or (b) a sale or other disposition by way of merger,
consolidation or otherwise, of all of the capital stock of any Subsidiary Guarantor, then such Subsidiary Guarantor shall be released and relieved of any obligations under its Subsidiary Guarantee. 

Any Subsidiary Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of
principal of and interest on the Notes and for the other obligations of any Subsidiary Guarantor under this Indenture as provided in this Article X. 

  
 55 

 ARTICLE XI 

SATISFACTION AND DISCHARGE 
 Section 11.01. Satisfaction and Discharge of Indenture. 
 This
Indenture shall cease to be of further effect with respect to the Notes of a series (except as to any surviving rights of registration of transfer or exchange of Notes herein expressly provided for), and the Trustee, on demand of and at the expense
of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Notes of such series, when: 
 (1) either: 
 (A) all Notes of such series theretofore
authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.08 and (ii) Notes 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 8.05) have been delivered to the Trustee for cancellation; or 

(B) all such Notes not theretofore delivered to the Trustee for cancellation: 

(i) have become due and payable, or 

(ii) will become due and payable at their Stated Maturities within one year, or 

(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
notice of redemption by the Trustee in the name, and at the expense, of the Company, and the Company in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose
an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest to the date of such deposit (in the case of Notes that have
become due and payable) or to the Stated Maturity or Redemption Date, as the case may be; 
 (2) the Company has paid or caused
to be paid all other sums payable hereunder by the Company; and 
 (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 have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 7.07
and the obligations of the Trustee to any Authenticating Agent under Section 7.14 shall survive such satisfaction and discharge. 
 Section 11.02. Application of Trust Money. 
 All money deposited
with the Trustee pursuant to Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes 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; but such money need not be segregated from
other funds except to the extent required by law. 

  
 56 

 ARTICLE XII 

MISCELLANEOUS 
 Section 12.01. Trust Indenture Act Controls. 
 If
any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA Section 318(c), the imposed duties shall control. 
 Section 12.02. Notices. 
 Any notice or
communication by the Company, any Subsidiary Guarantor or the Trustee to the others is duly given if in writing and delivered in Person or mailed by first class mail (registered or certified, return receipt requested), telex, telecopier or overnight
air courier guaranteeing next day delivery, to the others’ address. 
 If to the Company and/or any Subsidiary Guarantor:

 Peabody Energy Corporation 

701 Market Street 
 St. Louis, Missouri 63101-1826 
 Facsimile: (314) 342-3419

 Attention: Chief Legal Officer 
 With a copy to: 
 Simpson Thacher & Bartlett LLP

 425 Lexington Avenue 
 New York, New York 10017-3954 
 Facsimile (212) 455-2502

 Attention: Risë B. Norman, Esq. 
 If to the Trustee: 
 U.S. Bank National Association, as Trustee

 Goodwin Square 
 225 Asylum Street, 23rd Floor 
 EX-CT-SS 

Hartford, Connecticut 06103 
 Facsimile: (860) 241-6881 
 Attention: Philip J. Kane, Jr.

 The Company, any Subsidiary Guarantor or the Trustee, by notice to the others may designate additional or different addresses
for subsequent notices or communications. 
 All notices and communications (other than those sent to Holders) shall be deemed
to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and the next
Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery; provided, however, that any notice of communication to the Trustee shall not be deemed to be received by it until
actually received by it at the Corporate Trust Office of the Trustee. 
 Any notice or communication to a Holder shall be mailed
by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication shall also be so mailed to any
Person described in TIA Section 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

  
 57 

 If a notice or communication addressed to a party other than the Trustee is mailed in the
manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it. 
 If the Company
mails a notice or communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 Section 12.03. Communication by Holders of Notes with Other Holders of Notes. 
 Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture or the Notes. 

The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA Section 312(c). 

Section 12.04. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture (provided, however,
the below Opinion of Counsel shall not be required in connection with the authentication of the Notes on the Issue Date), the Company shall furnish to the Trustee: 
 (a) an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 12.05 hereof) stating that, in the opinion of
the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been satisfied; and 
 (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such
counsel, all such conditions precedent and covenants have been satisfied. 
 Section 12.05.
Statements Required in Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA Section 314(a)(4)) shall comply with the provisions of TIA Section 314(e) and shall include: 

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

(ii) 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; 
 (iii) a statement that, in the opinion of such
Person, he or she 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 satisfied; and 

(iv) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 Section 12.06. Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules
and set reasonable requirements for its functions. 

  
 58 

 Section 12.07. No Personal Liability of Directors,
Officers, Employees and Stockholders. 
 No past, present or future director, officer, employee, incorporator or
stockholder of the Company or any Subsidiary Guarantor or Person controlling such Persons, as such, shall have any liability for any obligations of the Company or of the Subsidiary Guarantors or any Person controlling such Person under the Notes,
this Indenture, the Subsidiary Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part
of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

Section 12.08. Governing Law. 

THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES. 

Section 12.09. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other Indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such Indenture, loan or debt agreement may not be used to interpret this Indenture. 

Section 12.10. Successors. 

All agreements of the Company in this Indenture and the Notes shall bind its successors. All agreements of the Trustee in this Indenture
shall bind its successors. 
 Section 12.11. Severability. 

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

Section 12.12. Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the
same agreement. 
 Section 12.13. Table of Contents, Headings, Etc. 

The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. 
 Section 12.14. Electronic Means. 
 The parties
agree that the transaction described herein may be conducted and related documents may be stored by electronic means. Copies, telecopies, facsimiles, electronic files and other reproductions of original executed documents shall be deemed to be
authentic and valid counterparts of such original documents for all purposes, including the filing of any claim, action or suit in the appropriate court of law. 
 [Signatures on following page] 

  
 59 

 SIGNATURES 
 Dated as of November 15, 2011 
  

			
	ISSUER:
	
	Peabody Energy Corporation
		
	        By:	 	/s/ Carey J. Dubois
		 	Name: Carey J. Dubois
		 	Title: Vice President and Treasurer
	
	GUARANTORS

  

			
		 	American Land Development, LLC
		 	 American Land Holdings of Colorado, LLC

		 	 American Land Holdings of Illinois, LLC

		 	 American Land Holdings of Indiana, LLC

		 	 American Land Holdings of Kentucky, LLC

		 	 American Land Holdings of West Virginia, LLC

		 	 Arid Operations, Inc.

		 	 Big Ridge, Inc.

		 	 Big Sky Coal Company

		 	 Black Hills Mining Company, LLC

		 	 BTU Western Resources, Inc.

		 	 Caballo Grande, LLC

		 	 Caseyville Dock Company, LLC

		 	 Central States Coal Reserves of Illinois, LLC

		 	 Central States Coal Reserves of Indiana, LLC

		 	 Century Mineral Resources, Inc.

		 	 Coal Reserves Holding Limited Liability Company No. 1

		 	 COALSALES II, LLC

		 	 Colorado Yampa Coal Company

		 	 Conservancy Resources, LLC

		 	 Cottonwood Land Company

		 	 Cyprus Creek Land Company

		 	 Cyprus Creek Land Resources, LLC

		 	 Dyson Creek Coal Company, LLC

		 	 Dyson Creek Mining Company, LLC

		 	 El Segundo Coal Company, LLC

		 	 Elkland Holdings, LLC

		 	 Falcon Coal Company, LLC

		 	 Gallo Finance Company

		 	 Gold Fields Chile, LLC

		 	 Gold Fields Mining, LLC

		 	 Gold Fields Ortiz, LLC

		 	 Hayden Gulch Terminal, LLC

		 	 Highwall Mining Services Company

		 	 Hillside Recreational Lands, LLC

		 	 HMC Mining, LLC

		 	 Illinois Land Holdings, LLC

		 	 Independence Material Handling, LLC

		 	 James River Coal Terminal, LLC

		 	 Juniper Coal Company

  
 60 

			
		 	Kayenta Mobile Home Park, Inc.
		 	 Kentucky Syngas, LLC

		 	 Lively Grove Energy, LLC

		 	 Lively Grove Energy Partners, LLC

		 	 Marigold Electricity, LLC

		 	 Midco Supply and Equipment Company

		 	 Midwest Coal Acquisition Corp.

		 	 Midwest Coal Reserves of Illinois, LLC

		 	 Midwest Coal Reserves of Indiana, LLC

		 	 Moffat County Mining, LLC

		 	 Mustang Energy Company, LLC

		 	 New Mexico Coal Resources, LLC

		 	 Pacific Export Resources, LLC

		 	 Peabody America, Inc.

		 	 Peabody Archveyor, LLC

		 	 Peabody Arclar Mining, LLC

		 	 Peabody Bear Run Mining, LLC

		 	 Peabody Bear Run Services, LLC

		 	 Peabody Caballo Mining, LLC

		 	 Peabody Cardinal Gasification, LLC

		 	 Peabody COALSALES, LLC

		 	 Peabody COALTRADE International (CTI), LLC

		 	 Peabody COALTRADE, LLC

		 	 Peabody Colorado Operations, LLC

		 	 Peabody Colorado Services, LLC

		 	 Peabody Coulterville Mining, LLC

		 	 Peabody Development Company, LLC

		 	 Peabody Electricity, LLC

		 	 Peabody Employment Services, LLC

		 	 Peabody Energy Generation Holding Company

		 	 Peabody Energy Investments, Inc.

		 	 Peabody Energy Solutions, Inc.

		 	 Peabody Gateway North Mining, LLC

		 	 Peabody Gateway Services, LLC

		 	 Peabody Holding Company, LLC

		 	 Peabody Illinois Services, LLC

		 	 Peabody Indiana Services, LLC

		 	 Peabody International Investments, Inc.

		 	 Peabody International Services, Inc.

		 	 Peabody Investments Corp.

		 	 Peabody Midwest Management Services, LLC

		 	 Peabody Midwest Mining, LLC

		 	 Peabody Midwest Operations, LLC

		 	 Peabody Midwest Services, LLC

		 	 Peabody Natural Gas, LLC

		 	 Peabody Natural Resources Company

		 	 Peabody New Mexico Services, LLC

		 	 Peabody Operations Holding, LLC

		 	 Peabody Powder River Mining, LLC

		 	 Peabody Powder River Operations, LLC

		 	 Peabody Powder River Services, LLC

		 	 Peabody PowerTree Investments, LLC

		 	 Peabody Recreational Lands, LLC

  
 61 

			
		 	Peabody Rocky Mountain Management Services, LLC
		 	 Peabody Rocky Mountain Services, LLC

		 	 Peabody Sage Creek Mining, LLC

		 	 Peabody School Creek Mining, LLC

		 	 Peabody Services Holding, LLC

		 	 Peabody Southwest, LLC

		 	 Peabody Southwestern Coal Company

		 	 Peabody Terminal Holding Company, Inc.

		 	 Peabody Terminals, LLC

		 	 Peabody Twentymile Mining, LLC

		 	 Peabody Venezuela Coal Corp.

		 	 Peabody Venture Fund, LLC

		 	 Peabody-Waterside Development, LLC

		 	 Peabody Western Coal Company

		 	 Peabody Wild Boar Mining, LLC

		 	 Peabody Wild Boar Services, LLC

		 	 Peabody Williams Fork Mining, LLC

		 	 Peabody Wyoming Gas, LLC

		 	 Peabody Wyoming Services, LLC

		 	 PEC Equipment Company, LLC

		 	 Point Pleasant Dock Company, LLC

		 	 Pond River Land Company

		 	 Porcupine Production, LLC

		 	 Porcupine Transportation, LLC

		 	 Riverview Terminal Company

		 	 Sage Creek Holdings, LLC

		 	 School Creek Coal Resources, LLC

		 	 Seneca Coal Company, LLC

		 	 Shoshone Coal Corporation

		 	 Star Lake Energy Company, L.L.C.

		 	 Sugar Camp Properties, LLC

		 	 Thoroughbred Generating Company, LLC

		 	 Thoroughbred Mining Company, LLC

		 	 Twentymile Coal, LLC

		 	 West Roundup Resources, LLC

  

			
	
		
	By:	 	/s/ Carey J. Dubois
		 	Name: Carey J. Dubois
		 	Title: Vice President and Treasurer

  
 62 

 
			
	TRUSTEE
	
	U.S. Bank National Association, as Trustee
		
	By:	 	/s/ Phillip G. Kane, Jr.
		 	Name: Philip G. Kane Jr.
		 	Title: Vice President

 EXHIBIT A-1 
 [Face of 2018 Note] 
 [Insert the Global Note Legend, if applicable pursuant to the provisions of
the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 

 [[RULE 144A][REGULATION S] GLOBAL NOTE 

representing up to 
 $                             

6.00% Senior Notes due 2018 
 [If Rule 144A Global Note – CUSIP Number 704549 AJ3 /ISIN Number US704549AJ38] 
 [If
Regulation S Global Note – CUSIP Number U70493 AB4 /ISIN Number USU70493AB49] 
 [If Exchange Note – CUSIP Number 704549 AK0 /ISIN
Number US704549AK01] 
  

					
	 No.
	  	$	 	  

 PEABODY ENERGY CORPORATION 
 promises to pay to CEDE & CO., INC. or registered assigns, the principal sum of                  Dollars
($                ) on November 15, 2018. 
 Interest
Payment Dates: May 15 and November 15, commencing May 15, 2012. 
 Record Dates: May 1 and November 1. 

Dated: November 15, 2011. 

  
 A-1-2

 IN WITNESS WHEREOF, Peabody Energy Corporation, has caused this Note to be signed manually
or by facsimile by its duly authorized officer. 
  

			
	PEABODY ENERGY CORPORATION
		
	By:	 	 
		 	Name:
		 	Title

  

			
	 This is one of the Global
 Notes referred to in the
 within-mentioned Indenture:

	
	 U.S. Bank National Association
 as Trustee

		
	By:	 	 
	Authorized Signatory

 Dated November 15, 2011 

  
 A-1-3

 [Back of Note] 
 6.00% Senior Notes due 2018 
 Capitalized terms used herein shall have the meanings assigned to
them in the Indenture referred to below unless otherwise indicated. Reference to the Notes herein shall only refer to the Notes of this series. 
 1. Interest. Peabody Energy Corporation, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at
6.00% per annum from November 15, 2011 until maturity. The Company will pay interest semi-annually on May 15 and November 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an
“Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 15, 2011; provided that if there is no existing
Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date;
provided, further, that the first Interest Payment Date shall be May 15, 2012. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from
time to time on demand at a rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard
to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. Any interest paid on this Note shall be increased to the
extent necessary to pay Additional Interest as set forth in this Note. 
 2. Additional Interest. The Holder is
entitled to the benefits of the Registration Rights Agreement dated November 15, 2011, among the Company, the Subsidiary Guarantors named therein and the Initial Purchasers (the “Registration Rights Agreement”).

 If (i) any of the Registration Statements (as defined in the Registration Rights Agreement) required by the Registration
Rights Agreement is not filed with the U.S. Securities and Exchange Commission (the “SEC”) on or prior to the date specified for such filing in the Registration Rights Agreement, (ii) any of such Registration Statements
has not been declared effective by the SEC on or prior to the date specified for such effectiveness in the Registration Rights Agreement (the “Effectiveness Target Date”), (iii) the Exchange Offer (as defined in the
Registration Rights Agreement) has not been Consummated (as defined in the Registration Rights Agreement) within 365 days after the Closing Date (as defined in the Registration Rights Agreement) with respect to the Exchange Offer Registration
Statement (as defined in the Registration Rights Agreement) or (iv) any Registration Statement required by the Registration Rights Agreement is filed and declared effective but shall thereafter cease to be effective or fail to be usable for its
intended purpose without being succeeded immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself immediately declared effective and, in the case of a Shelf Registration Statement (as
defined in the Registration Rights Agreement), such failure to remain effective or usable exists for more than 75 days (whether or not consecutive) in any 12-month period as described in the final paragraph of Section 5(c) (each such event
referred to in clauses (i) through (iv), a “Registration Default”), the Company hereby agrees that the interest rate borne by the Notes shall be increased by 0.25% per annum during the 90-day period immediately
following the occurrence of any Registration Default and shall increase by 0.25% per annum at the end of each subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum. Following the cure of all Registration
Defaults relating to any particular Notes, the interest rate borne by the Notes shall be reduced to the original interest rate borne by the Notes; provided, however, that, if after any such reduction in interest rate, a different Registration
Default occurs, the interest rate borne by the Notes shall again be increased pursuant to the foregoing provisions. Any amounts of Additional Interest due will be payable in cash on the same interest payment dates as interest on the Notes is
payable. 
 3. Method of Payment. The Company shall pay interest on the Notes (except defaulted interest) to the
Persons who are registered Holders of Notes at the close of business on the May 1 or November 1 next preceding the Interest Payment Date (except as provided in Section 2.11 of the Indenture with respect to defaulted interest), even if
such Notes are canceled after such record date and on or before such Interest Payment Date. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose within the City
and State of New York, unless the Company elects to make payment of interest by check 

  
 A-1-4

 
mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds will be required with respect to principal
of, interest and premium on all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Company or the Paying Agent at least 15 days prior to the Interest Payment Date. Such payment shall be
in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 4. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change the Paying Agent or
Registrar without prior notice to any Holder. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 5.
Indenture. The Company issued the Notes under the Indenture dated as of November 15, 2011 among the Company, the Subsidiary Guarantors and the Trustee (the “Indenture”). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the
Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are obligations of the
Company. 
 6. The principal on the Notes shall be due and payable on November 15, 2018. 

7. Optional Redemption. 
 (a) The Notes shall be subject to redemption at any time at the option of the Company, in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days’ notice to
Holders in the manner provided in the Indenture. 
 (b) The Notes will be redeemable at a redemption price equal to the greater
of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining principal and interest payments on the applicable Notes (exclusive of interest accrued to the date of redemption)
discounted to the redemption date, calculated on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months), at the Treasury Rate plus 50 basis points, together with accrued and unpaid interest, if any, to the date of
redemption. 
 (c) Any redemption pursuant to this Paragraph 7 shall be made pursuant to the provisions of Article III
of the Indenture. 
 8. Repurchase at Option of Holder. Upon the occurrence of a Change of Control
Triggering Event, the Company shall be required to make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000) of each Holder’s Notes at an offer
price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon, if any, to the date of purchase (the “Change of Control Payment”). Within 10 days following any Change of
Control Triggering Event, the Company shall mail a notice to each Holder describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in such
notice. 
 9. Notice of Redemption. Notice of redemption shall be mailed no earlier than
30 days and no later than 60 days from the date such notice is mailed to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of
$1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases to accrue on the Notes or portions thereof called for redemption. 

10. Denominations, Transfer, Exchange. The Notes are issued in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents in
connection with a transfer of Notes, to pay all taxes and fees 

  
 A-1-5

 
required by law or permitted by the Indenture due on transfer. The Company is not required to exchange or register the transfer of any Note or portion of a Note selected for redemption, except
for the unredeemed portion of any Note being redeemed in part. Also, the Company is not required to exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a
record date and the corresponding Interest Payment Date. 
 11. Persons Deemed Owners. The registered Holder of a
Note may be treated as its owner for all purposes. 
 12. Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then Outstanding including Additional Notes, if any,
voting as a single class, and any existing default or compliance with any provision of the Indenture, the Subsidiary Guarantees, or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then Outstanding
Notes and Additional Notes, if any, voting as a single class. Without the consent of any Holder of a Note, the Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for the assumption of the Company’s or Subsidiary Guarantor’s obligations to Holders of the Notes in case of a merger or consolidation, to make
any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or
maintain the qualification of the Indenture under the Trust Indenture Act, to provide for the Issuance of Additional Notes or Exchange Notes, or to allow any Subsidiary Guarantor to execute a supplemental indenture to the Indenture and/or a
Subsidiary Guarantee with respect to the Notes. 
 13. Defaults and Remedies. An “Event of
Default” occurs if: 
  

	 	(a)	the Company defaults in the payment when due of interest on the Notes and such default continues for a period of 30 days; 

 

	 	(b)	the Company defaults in the payment when due of principal of or premium, if any, on the Notes when the same becomes due and payable at maturity, upon redemption
(including in connection with an offer to purchase) or otherwise; 

  

	 	(c)	the Company or any of its Subsidiaries fails to make the offer required or to purchase any of the Notes as required by Section 4.08 of the Indenture;

  

	 	(d)	the Company or any of its Subsidiaries fails to comply for 60 days after written notice to the Company by the Trustee or a Holder with any covenant,
representation, warranty or other agreement in the Indenture or the Notes; 

  

	 	(e)	a default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of the Restricted Subsidiaries), whether such Indebtedness or guarantee now exists, or is created after the date hereof, which default results
in the acceleration of such Indebtedness prior to its express maturity and, in each case, the principal amount of such Indebtedness aggregates $75.0 million or more; 

 

	 	(f)	the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: 

 (i) commences a
voluntary case, 

  
 A-1-6

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

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

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

(v) generally is not paying its debts as they become due; or 
 (g) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 
 (i) is for relief against the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant
Subsidiary in an involuntary case; 
 (ii) appoints a custodian of the Company or any of its Significant Subsidiaries that are
Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary or for all or substantially all of the property of the Company or any of its Significant Subsidiaries that are
Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary; 
 (iii) orders the liquidation of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary; and the order or decree remains unstayed and in effect for 60 consecutive days; or 
 (iv) except as
permitted by the Indenture, any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Subsidiary Guarantor, or any Person acting on behalf of any
Subsidiary Guarantor, shall deny or disaffirm its obligations under such Subsidiary Guarantor’s Subsidiary Guarantee. 
 If
any Event of Default (other than an Event of Default specified in clause (f) or (g) of Section 6.01 of the Indenture occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then Outstanding
Notes may declare all the Notes to be due and payable immediately. 
 14. Trustee Dealings with Company. The
Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

15. No Recourse Against Others. A director, officer, employee, incorporator or stockholder, of the Company, or any Person
controlling such Person, as such, shall not have any liability for any obligations of the Company under the Notes, the Subsidiary Guarantees, the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 16. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

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

  
 A-1-7

 18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

 

	
	
	 Peabody Energy Corporation
 701
Market Street

	 St. Louis, Missouri 63101-1826

Attention: Chief Legal Officer

  
 A-1-8

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  

		 	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s
name, address and zip code) 
  

			
	and irrevocably appoint	 	  

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

Date:
                                 

 

			
	Your Signature:	 	 
		 	(Sign exactly as your name appears on the face of this Note)

 Signature Guarantee*:
                                         
                                    

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-1-9

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.08 of the Indenture, check the box below:

     [            ]
Section 4.08 
 If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.08
of the Indenture, state the amount you elect to have purchased: 

$                   
      

Date:                        
             
  

							
				
	Your Signature:	 	 	 		 	
		 	(Sign exactly as your name appears on the face of this Note)	 		 	
	Tax Identification No.:                      
                                         
    	 		 	

 Signature
Guarantee*:                                       
                                  

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-1-10

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount of
this
Global Note
	 	 Amount of increase
in
Principal Amount of this
Global Note
	  	Principal Amount of this
Global Note following
such decrease (or
increase)	  	Signature of authorized
signatory of Trustee or
Note
Custodian

  
 A-1-11

 EXHIBIT A-2 
 [Face of 2021 Note] 
 [Insert the Global Note Legend, if applicable pursuant to the
provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture] 

  
 A-2-1

 [[RULE 144A][REGULATION S] GLOBAL NOTE 

representing up to 
 $                 
 6.25% Senior Notes due 2021 
 [If Rule 144A Global Note – CUSIP Number 704549 AL8 /ISIN
Number US704549AL83] [If Regulation S Global Note – CUSIP Number U70493 AC2 /ISIN Number USU70493AC22] [If Exchange Note – CUSIP Number 704549 AM6 /ISIN Number US704549AM66] 

 

					
	 No.
	  	$	                	  

 PEABODY ENERGY CORPORATION 
 promises to pay to CEDE & CO., INC. or registered assigns, the principal sum of             Dollars
($            ) on November 15, 2021. 
 Interest Payment Dates:
May 15 and November 15, commencing May 15, 2012. 
 Record Dates: May 1 and November 1. 

Dated: November 15, 2011. 

  
 A-2-2

 IN WITNESS WHEREOF, Peabody Energy Corporation, has caused this Note to be signed manually
or by facsimile by its duly authorized officer. 
  

			
	PEABODY ENERGY CORPORATION
		
	By:	 	 
		 	Name:
		 	Title

  

			
	 This is one of the Global
 Notes referred to in the
 within-mentioned Indenture:

	
	 U.S. Bank National Association
 as Trustee

		
	By:	 	 
	Authorized Signatory
	
	Dated November 15, 2011

  
 A-2-3

 [Back of Note] 
 6.25% Senior Notes due 2021 
 Capitalized terms used herein shall have the meanings assigned to
them in the Indenture referred to below unless otherwise indicated. Reference to the Notes herein shall only refer to the Notes of this series. 
 1. Interest. Peabody Energy Corporation, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at 6.25% per annum
from November 15, 2011 until maturity. The Company will pay interest semi-annually on May 15 and November 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest
Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 15, 2011; provided that if there is no existing Default in the payment of
interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date shall be May 15, 2012. The Company shall pay interest (including post petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a
rate that is 1% per annum in excess of the rate then in effect; it shall pay interest (including post petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace
periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360 day year comprised of twelve 30-day months. Any interest paid on this Note shall be increased to the extent necessary to
pay Additional Interest as set forth in this Note. 
 2. Additional Interest. The Holder is entitled to the
benefits of the Registration Rights Agreement dated November 15, 2011, among the Company, the Subsidiary Guarantors named therein and the Initial Purchasers (the “Registration Rights Agreement”). 

If (i) any of the Registration Statements (as defined in the Registration Rights Agreement) required by the Registration Rights
Agreement is not filed with the U.S. Securities and Exchange Commission (the “SEC”) on or prior to the date specified for such filing in the Registration Rights Agreement, (ii) any of such Registration Statements has not
been declared effective by the SEC on or prior to the date specified for such effectiveness in the Registration Rights Agreement (the “Effectiveness Target Date”), (iii) the Exchange Offer (as defined in the Registration
Rights Agreement) has not been Consummated (as defined in the Registration Rights Agreement) within 365 days after the Closing Date (as defined in the Registration Rights Agreement) with respect to the Exchange Offer Registration Statement (as
defined in the Registration Rights Agreement) or (iv) any Registration Statement required by the Registration Rights Agreement is filed and declared effective but shall thereafter cease to be effective or fail to be usable for its intended
purpose without being succeeded immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself immediately declared effective and, in the case of a Shelf Registration Statement (as defined in the
Registration Rights Agreement), such failure to remain effective or usable exists for more than 75 days (whether or not consecutive) in any 12-month period as described in the final paragraph of Section 5(c) (each such event referred to in
clauses (i) through (iv), a “Registration Default”), the Company hereby agrees that the interest rate borne by the Notes shall be increased by 0.25% per annum during the 90-day period immediately following the
occurrence of any Registration Default and shall increase by 0.25% per annum at the end of each subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum. Following the cure of all Registration Defaults relating
to any particular Notes, the interest rate borne by the Notes shall be reduced to the original interest rate borne by the Notes; provided, however, that, if after any such reduction in interest rate, a different Registration Default occurs,
the interest rate borne by the Notes shall again be increased pursuant to the foregoing provisions. Any amounts of Additional Interest due will be payable in cash on the same interest payment dates as interest on the Notes is payable. 

3. Method of Payment. The Company shall pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the May 1 or November 1 next preceding the Interest Payment Date (except as provided in Section 2.11 of the Indenture with respect to defaulted interest), even if such Notes are
canceled after such record date and on or before such Interest Payment Date. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose within the City and State of
New York, unless the Company elects to make payment of interest by check 

  
 A-2-4

 
mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds will be required with respect to principal
of, interest and premium on all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Company or the Paying Agent at least 15 days prior to the Interest Payment Date. Such payment shall be
in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 4. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change the Paying Agent or
Registrar without prior notice to any Holder. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 
 5.
Indenture. The Company issued the Notes under the Indenture dated as of November 15, 2011 among the Company, the Subsidiary Guarantors and the Trustee (the “Indenture”). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and
such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are obligations of the Company.

 6. The principal on the Notes shall be due and payable on November 15, 2021. 

7. Optional Redemption. 
 (a) The Notes shall be subject to redemption at any time at the option of the Company, in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days’ notice to
Holders in the manner provided in the Indenture. 
 (b) The Notes will be redeemable at a redemption price equal to the greater
of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining principal and interest payments on the applicable Notes (exclusive of interest accrued to the date of redemption)
discounted to the redemption date, calculated on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months), at the Treasury Rate plus 50 basis points, together with accrued and unpaid interest, if any, to the date of
redemption. 
 (c) Any redemption pursuant to this Paragraph 7 shall be made pursuant to the provisions of Article III
of the Indenture. 
 8. Repurchase at Option of Holder. Upon the occurrence of a Change of Control Triggering
Event, the Company shall be required to make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000) of each Holder’s Notes at an offer price in cash equal
to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon, if any, to the date of purchase (the “Change of Control Payment”). Within 10 days following any Change of Control Triggering Event,
the Company shall mail a notice to each Holder describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in such notice. 

9. Notice of Redemption. Notice of redemption shall be mailed no earlier than 30 days and no later than 60 days from the
date such notice is mailed to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are
to be redeemed. On and after the redemption date interest ceases to accrue on the Notes or portions thereof called for redemption. 
 10. Denominations, Transfer, Exchange. The Notes are issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes
may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents in connection with a transfer of Notes, to pay all taxes and fees

  
 A-2-5

 
required by law or permitted by the Indenture due on transfer. The Company is not required to exchange or register the transfer of any Note or portion of a Note selected for redemption, except
for the unredeemed portion of any Note being redeemed in part. Also, the Company is not required to exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a
record date and the corresponding Interest Payment Date. 
 11. Persons Deemed Owners. The registered Holder of a
Note may be treated as its owner for all purposes. 
 12. Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then Outstanding including Additional Notes, if any,
voting as a single class, and any existing default or compliance with any provision of the Indenture, and the Subsidiary Guarantees or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then Outstanding
Notes and Additional Notes, if any, voting as a single class. Without the consent of any Holder of a Note, the Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for the assumption of the Company’s or Subsidiary Guarantor’s obligations to Holders of the Notes in case of a merger or consolidation, to make
any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or
maintain the qualification of the Indenture under the Trust Indenture Act, to provide for the Issuance of Additional Notes or Exchange Notes, or to allow any Subsidiary Guarantor to execute a supplemental indenture to the Indenture and/or a
Subsidiary Guarantee with respect to the Notes. 
 13. Defaults and Remedies. An “Event of
Default” occurs if: 
  

	 	(a)	the Company defaults in the payment when due of interest on the Notes and such default continues for a period of 30 days; 

 

	 	(b)	the Company defaults in the payment when due of principal of or premium, if any, on the Notes when the same becomes due and payable at maturity, upon redemption
(including in connection with an offer to purchase) or otherwise; 

  

	 	(c)	the Company or any of its Subsidiaries fails to make the offer required or to purchase any of the Notes as required by Section 4.08 of the Indenture;

  

	 	(d)	the Company or any of its Subsidiaries fails to comply for 60 days after written notice to the Company by the Trustee or a Holder with any covenant,
representation, warranty or other agreement in the Indenture or the Notes; 

  

	 	(e)	a default occurs under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of the Restricted Subsidiaries), whether such Indebtedness or guarantee now exists, or is created after the date hereof, which default results
in the acceleration of such Indebtedness prior to its express maturity and, in each case, the principal amount of such Indebtedness aggregates $75.0 million or more; 

 

	 	(f)	the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole, would constitute a
Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: 

  

	 	(i)	commences a voluntary case, 

  
 A-2-6

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

 

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

 

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

  

	 	(v)	generally is not paying its debts as they become due; or 

  

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

 

	 	(i)	is for relief against the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary in an involuntary case; 

  

	 	(ii)	appoints a custodian of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary or for all or substantially all of the property of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a whole,
would constitute a Significant Subsidiary; 

  

	 	(iii)	orders the liquidation of the Company or any of its Significant Subsidiaries that are Restricted Subsidiaries or any group of Restricted Subsidiaries that, taken as a
whole, would constitute a Significant Subsidiary; and the order or decree remains unstayed and in effect for 60 consecutive days; or 

  

	 	(iv)	except as permitted by the Indenture, any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in
full force and effect or any Subsidiary Guarantor, or any Person acting on behalf of any Subsidiary Guarantor, shall deny or disaffirm its obligations under such Subsidiary Guarantor’s Subsidiary Guarantee. 

If any Event of Default (other than an Event of Default specified in clause (f) or (g) of Section 6.01 of the Indenture
occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then Outstanding Notes may declare all the Notes to be due and payable immediately. 

14. Trustee Dealings with Company. The Trustee, in its individual or any other capacity, may make loans to, accept deposits
from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 
 15. No Recourse Against Others. A director, officer, employee, incorporator or stockholder, of the Company, or any Person controlling such Person, as such, shall not have any liability for
any obligations of the Company under the Notes, the Subsidiary Guarantees, the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 16.
Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 17. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint
tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

  
 A-2-7

 18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy
of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
 Peabody Energy Corporation 
 701 Market Street 

St. Louis, Missouri 63101-1826 
 Attention: Chief Legal Officer 

  
 A-2-8

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  

		 	(Insert assignee’s legal name)

  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s
name, address and zip code) 

and irrevocably appoint                   
                                         
                                         
                                         
                                         
                              
 to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
 Date:
                                         
                
  

			
	
		
	Your Signature:	 	 
		 	(Sign exactly as your name appears on the face of this Note)

 Signature Guarantee*:
                                         
                                    

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-2-9

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.08 of the Indenture, check the box below:

        [           
 ] Section 4.08 
 If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 4.08 of the Indenture, state the amount you elect to have purchased: 

$                   
          
 Date:
                                     

 

			
	Your Signature:	 	 
		 	(Sign exactly as your name appears on the face of this Note)
	
	Tax
Identification No.:                                     
                                

 Signature Guarantee*:
                                         
                                        

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-2-10

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a
part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount of this
Global
Note
	 	 Amount of increase in
Principal Amount of this
Global
Note
	  	 Principal Amount of this
Global Note following
such decrease
(or
increase)
	  	 Signature of authorized
signatory of Trustee or
Note
Custodian

  
 A-2-11

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Peabody Energy Corporation 

701 Market Street 
 St. Louis, Missouri
63101-1826 
 Facsimile: (314) 342-3419 
 Attention: Chief Legal Officer 
 US Bank National Association 

Goodwin Square 
 225 Asylum Street, 23rd Floor

 EX-CT-SS 
 Hartford, Connecticut
06103 
 Facsimile: (860) 241-6881 

Attention: Philip J. Kane, Jr. 

Re: [6.00% Senior Notes due 2018][6.25% Senior Notes due 2021] 
 Reference is hereby made to the Indenture, dated as of November 15, 2011 (the “Indenture”), among Peabody Energy Corporation, the Subsidiary Guarantors named therein and the
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

            (the “Transferor”) owns and proposes to
transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $ in such Note[s] or interests (the “Transfer”), to
            (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 

[CHECK ALL THAT APPLY] 
 1. [ ] CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE RELEVANT 144A GLOBAL NOTE OR A RELEVANT DEFINITIVE NOTE PURSUANT TO RULE 144A. The Transfer is being effected pursuant to
and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is
being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable blue sky securities
laws of any state of the United States. 
 2. [ ] CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE
RELEVANT REGULATION S GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO REGULATION S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further
certifies that (i) the Transfer is not being made to a person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market and neither such Transferor nor any Person acting
on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities
Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not
being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on Transfer enumerated in the Indenture and the Securities Act. 

  
 B-1

 3. [ ] CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE
RELEVANT DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF THE SECURITIES ACT OTHER THAN RULE 144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes
and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one):

  

	 	(a)	[ ] such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act; 

or 
  

	 	(b)	[ ] such Transfer is being effected to the Company or a subsidiary thereof; 

 or 
  

	 	(c)	[ ] such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements
of the Securities Act. 

 4. [ ] CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN
UNRESTRICTED GLOBAL NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE. 
 (a) [ ] CHECK IF TRANSFER IS PURSUANT TO RULE 144.
(i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on
Restricted Definitive Notes and in the Indenture. 
 (b) [ ] CHECK IF TRANSFER IS PURSUANT TO REGULATION S. (i) The Transfer
is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture. 
 (c) [ ] CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i) The Transfer is being effected
pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act.
Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 

  
 B-2

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

			
	[INSERT NAME OF TRANSFEROR]
		
	By:	 	 
		 	Name:
		 	Title:

 Dated:
                             

  
 B-3

 ANNEX A TO CERTIFICATE OF TRANSFER 

1. The Transferor owns and proposes to transfer the following: 
 [CHECK ONE OF (a) OR (b)] 
 (a) [ ] a beneficial interest in the: 

(i) [ ] 144A Global Note ([2018 – CUSIP 704549 AJ3][2021 – CUSIP 704549 AJ3]), or 

(ii) [ ] Regulation S Global Note ([2018—CUSIP U70493 AB4][2021 – CUSIP U70493 AC2]), or 

(b) [ ] a Restricted Definitive Note. 
 2. After the Transfer the Transferee will hold: 
 [CHECK ONE] 

(a) [ ] a beneficial interest in the: 
 (i) [ ] 144A Global Note ([2018 – CUSIP 704549 AJ3][2021 – CUSIP 704549 AJ3]), or 
 (ii) [ ] Regulation S Global Note ([2018 – CUSIP U70493 AB4][2021 – CUSIP U70493 AC2]), or 
 (iii) [ ] Unrestricted Global Note ([2018 – CUSIP 704549 AK0] [2021 – CUSIP 704549 AM6]); or 
 (b) [ ] a Restricted Definitive Note; or 
 (c) [ ] an Unrestricted Definitive Note,

 in accordance with the terms of the Indenture. 

  
 B-4

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Peabody Energy Corporation 

701 Market Street 
 St. Louis, Missouri
63101-1826 
 Facsimile: (314) 342-3419 
 Attention: Chief Legal Officer 
 US Bank National Association 

Goodwin Square 
 225 Asylum Street, 23rd Floor

 EX-CT-SS 
 Hartford, Connecticut
06103 
 Facsimile: (860) 241-6881 

Attention: Philip J. Kane, Jr. 

Re: [6.00% Senior Notes due 2018][6.25% Senior Notes due 2021] 
 Reference is hereby made to the Indenture, dated as of November 15, 2011 (the “Indenture”), among Peabody Energy Corporation, the Subsidiary Guarantors named therein and the
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

            (the “Owner”) owns and proposes to
exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $            in such Note[s] or interests (the “Exchange”). In
connection with the Exchange, the Owner hereby certifies that: 
 1. EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL
INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN AN UNRESTRICTED GLOBAL NOTE 

(a) [ ] CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE.
In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the United States
Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b) [ ] CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the
Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for the Owner’s own account without transfer,
(ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the
United States. 
  

  
 C-1

 (c) [ ] CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL INTEREST IN AN
UNRESTRICTED GLOBAL NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable
blue sky securities laws of any state of the United States. 
 (d) [ ] CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO
UNRESTRICTED DEFINITIVE NOTE. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States. 
 2. EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR
BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES FOR RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES 
 (a) [ ] CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner’s beneficial interest in a Restricted
Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the
Indenture and the Securities Act. 
 (b) [ ] CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL INTEREST IN A
RESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] [            ] 144A Global Note
[            ] Regulation S Global Note, with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account
without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable
blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 
 This
certificate and the statements contained herein are made for your benefit and the benefit of the Company and are dated             . 

 

			
	[INSERT NAME OF TRANSFEROR]
		
	By:	 	 
		 	 Name:

Title:

 Dated:              

 

  
 C-2

 EXHIBIT D 
 FORM OF NOTATION OF SUBSIDIARY GUARANTEE 
 For value received, each
Subsidiary Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of
November 15, 2011(the “Indenture”) among Peabody Energy Corporation, the Subsidiary Guarantors listed on Schedule I thereto and U.S. Bank National Association, as Trustee (the “Trustee”),
(a) the due and punctual payment of the principal of, premium, if any, and interest on the Notes (as defined in the Indenture), whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue
principal and premium, and, to the extent permitted by law, interest, and the due and punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case
of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise. The obligations of the Subsidiary Guarantors to the Holders of Notes and to the Trustee pursuant to the Subsidiary Guarantee and the Indenture are expressly set forth in Article X of the Indenture and reference is
hereby made to the Indenture for the precise terms of the Subsidiary Guarantee. Each Holder of a Note, by accepting the same, (a) agrees to and shall be bound by such provisions and (b) appoints the Trustee attorney-in-fact of such Holder
for such purpose. 
  

			
		 	 American Land Development, LLC

		 	 American Land Holdings of Colorado, LLC

		 	 American Land Holdings of Illinois, LLC

		 	 American Land Holdings of Indiana, LLC

		 	 American Land Holdings of Kentucky, LLC

		 	 American Land Holdings of West Virginia, LLC

		 	 Arid Operations, Inc.

		 	 Big Ridge, Inc.

		 	 Big Sky Coal Company

		 	 Black Hills Mining Company, LLC

		 	 BTU Western Resources, Inc.

		 	 Caballo Grande, LLC

		 	 Caseyville Dock Company, LLC

		 	 Central States Coal Reserves of Illinois, LLC

		 	 Central States Coal Reserves of Indiana, LLC

		 	 Century Mineral Resources, Inc.

		 	 Coal Reserves Holding Limited Liability Company No. 1

		 	 COALSALES II, LLC

		 	 Colorado Yampa Coal Company

		 	 Conservancy Resources, LLC

		 	 Cottonwood Land Company

		 	 Cyprus Creek Land Company

		 	 Cyprus Creek Land Resources, LLC

		 	 Dyson Creek Coal Company, LLC

		 	 Dyson Creek Mining Company, LLC

		 	 El Segundo Coal Company, LLC

		 	 Elkland Holdings, LLC

		 	 Falcon Coal Company, LLC

		 	 Gallo Finance Company

		 	 Gold Fields Chile, LLC

		 	 Gold Fields Mining, LLC

		 	 Gold Fields Ortiz, LLC

		 	 Hayden Gulch Terminal, LLC

  
 D-1

			
		 	 Highwall Mining Services Company

		 	 Hillside Recreational Lands, LLC

		 	 HMC Mining, LLC

		 	 Illinois Land Holdings, LLC

		 	 Independence Material Handling, LLC

		 	 James River Coal Terminal, LLC

		 	 Juniper Coal Company

		 	 Kayenta Mobile Home Park, Inc.

		 	 Kentucky Syngas, LLC

		 	 Lively Grove Energy, LLC

		 	 Lively Grove Energy Partners, LLC

		 	 Marigold Electricity, LLC

		 	 Midco Supply and Equipment Company

		 	 Midwest Coal Acquisition Corp.

		 	 Midwest Coal Reserves of Illinois, LLC

		 	 Midwest Coal Reserves of Indiana, LLC

		 	 Moffat County Mining, LLC

		 	 Mustang Energy Company, LLC

		 	 New Mexico Coal Resources, LLC

		 	 Pacific Export Resources, LLC

		 	 Peabody America, Inc.

		 	 Peabody Archveyor, LLC

		 	 Peabody Arclar Mining, LLC

		 	 Peabody Bear Run Mining, LLC

		 	 Peabody Bear Run Services, LLC

		 	 Peabody Caballo Mining, LLC

		 	 Peabody Cardinal Gasification, LLC

		 	 Peabody COALSALES, LLC

		 	 Peabody COALTRADE International (CTI), LLC

		 	 Peabody COALTRADE, LLC

		 	 Peabody Colorado Operations, LLC

		 	 Peabody Colorado Services, LLC

		 	 Peabody Coulterville Mining, LLC

		 	 Peabody Development Company, LLC

		 	 Peabody Electricity, LLC

		 	 Peabody Employment Services, LLC

		 	 Peabody Energy Generation Holding Company

		 	 Peabody Energy Investments, Inc.

		 	 Peabody Energy Solutions, Inc.

		 	 Peabody Gateway North Mining, LLC

		 	 Peabody Gateway Services, LLC

		 	 Peabody Holding Company, LLC

		 	 Peabody Illinois Services, LLC

		 	 Peabody Indiana Services, LLC

		 	 Peabody International Investments, Inc.

		 	 Peabody International Services, Inc.

		 	 Peabody Investments Corp.

		 	 Peabody Midwest Management Services, LLC

		 	 Peabody Midwest Mining, LLC

		 	 Peabody Midwest Operations, LLC

		 	 Peabody Midwest Services, LLC

		 	 Peabody Natural Gas, LLC

		 	 Peabody Natural Resources Company

  
 D-2

			
		 	 Peabody New Mexico Services, LLC

		 	 Peabody Operations Holding, LLC

		 	 Peabody Powder River Mining, LLC

		 	 Peabody Powder River Operations, LLC

		 	 Peabody Powder River Services, LLC

		 	 Peabody PowerTree Investments, LLC

		 	 Peabody Recreational Lands, LLC

		 	 Peabody Rocky Mountain Management Services, LLC

		 	 Peabody Rocky Mountain Services, LLC

		 	 Peabody Sage Creek Mining, LLC

		 	 Peabody School Creek Mining, LLC

		 	 Peabody Services Holding, LLC

		 	 Peabody Southwest, LLC

		 	 Peabody Southwestern Coal Company

		 	 Peabody Terminal Holding Company, Inc.

		 	 Peabody Terminals, LLC

		 	 Peabody Twentymile Mining, LLC

		 	 Peabody Venezuela Coal Corp.

		 	 Peabody Venture Fund, LLC

		 	 Peabody-Waterside Development, LLC

		 	 Peabody Western Coal Company

		 	 Peabody Wild Boar Mining, LLC

		 	 Peabody Wild Boar Services, LLC

		 	 Peabody Williams Fork Mining, LLC

		 	 Peabody Wyoming Gas, LLC

		 	 Peabody Wyoming Services, LLC

		 	 PEC Equipment Company, LLC

		 	 Point Pleasant Dock Company, LLC

		 	 Pond River Land Company

		 	 Porcupine Production, LLC

		 	 Porcupine Transportation, LLC

		 	 Riverview Terminal Company

		 	 Sage Creek Holdings, LLC

		 	 School Creek Coal Resources, LLC

		 	 Seneca Coal Company, LLC

		 	 Shoshone Coal Corporation

		 	 Star Lake Energy Company, L.L.C.

		 	 Sugar Camp Properties, LLC

		 	 Thoroughbred Generating Company, LLC

		 	 Thoroughbred Mining Company, LLC

		 	 Twentymile Coal, LLC

		 	 West Roundup Resources, LLC

  

			
	
		
	By:	 	  

		 	 Name:

Title:

  
 D-3

 EXHIBIT E 
 FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT SUBSIDIARY
GUARANTORS 
 Supplemental Indenture (this “Supplemental Indenture”), dated as of [•], among
(the “Guaranteeing Subsidiary”), a subsidiary of Peabody Energy Corporation (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Subsidiary Guarantors (as
defined in the Indenture referred to herein) and U.S. Bank National Association, as Trustee under the Indenture referred to below (the “Trustee”). 
 W I T N E S S E T H 
 WHEREAS, the Company has heretofore executed and delivered
to the Trustee the Indenture dated as of November 15, 2011 (the “Indenture”) providing for the issuance of an unlimited amount of 6.00% Senior Notes due 2018 and 6.25% Senior Notes due 2021 (collectively, the
“Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing
Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and
conditions set forth herein (the “Subsidiary Guarantee”); and 
 WHEREAS, pursuant to Section 9.01
of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of
the Notes as follows: 
 1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings
assigned to them in the Indenture. 
 2. Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees as follows:

  

	 	(a)	Along with all Subsidiary Guarantors named in the Indenture, to jointly and severally Guarantee to each Holder of a Note authenticated and delivered by the Trustee and
to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Company hereunder or thereunder, that: 

 

	 	(i)	the principal of and interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the
overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and 

  

	 	(ii)	in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary Guarantors
shall be jointly and severally obligated to pay the same immediately. 

  

	 	(b)	The obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to
enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise
constitute a legal or equitable discharge or defense of a Subsidiary Guarantor. 

  
 E-1

	 	(c)	The following is hereby waived: diligence presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any
right to require a proceeding first against the Company, protest, notice and all demands whatsoever. 

  

	 	(d)	This Subsidiary Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture. 

 

	 	(e)	If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Subsidiary Guarantors, or any custodian, Trustee, liquidator or other
similar official acting in relation to either the Company or the Subsidiary Guarantors, any amount paid by either to the Trustee or such Holder, this Subsidiary Guarantee, to the extent theretofore discharged, shall be reinstated in full force and
effect. 

  

	 	(f)	The Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment
in full of all obligations guaranteed hereby. 

  

	 	(g)	As between the Subsidiary Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed hereby
may be accelerated as provided in Article VI of the Indenture for the purposes of this Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby,
and (y) in the event of any declaration of acceleration of such obligations as provided in Article VI of the Indenture, such obligations (whether or not due and payable) shall forthwith become due and payable by the Subsidiary Guarantors
for the purpose of this Subsidiary Guarantee. 

  

	 	(h)	The Subsidiary Guarantors shall have the right to seek contribution from any non-paying Subsidiary Guarantor so long as the exercise of such right does not impair the
rights of the Holders under the Subsidiary Guarantee. 

  

	 	(i)	Pursuant to Section 10.04 of the Indenture, after giving effect to any maximum amount and any other contingent and fixed liabilities that are relevant under any
applicable Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Subsidiary Guarantor in respect of the obligations of such other
Subsidiary Guarantor under Article X of the Indenture shall result in the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee not constituting a fraudulent transfer or conveyance. 

3. Execution and Delivery. Each Guaranteeing Subsidiary agrees that the Subsidiary Guarantees shall remain in full force and effect
notwithstanding any failure to endorse on each Note a notation of such Subsidiary Guarantee. 
 4. Guaranteeing Subsidiary May
Consolidate, Etc. on Certain Terms. 
  

	 	(a)	The Guaranteeing Subsidiary may not consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person) another corporation,
Person or entity whether or not affiliated with such Subsidiary Guarantor unless: 

  

	 	(i)	subject to Section 10.04 of the Indenture, the Person formed by or surviving any such consolidation or merger (if other than a Subsidiary Guarantor or the Company)
unconditionally assumes all the obligations of such Subsidiary Guarantor, pursuant to a supplemental indenture in form and substance reasonably satisfactory to the Trustee, under the Notes, the Indenture and the Subsidiary Guarantee on the terms set
forth herein or therein; and 

  
 E-2

 (ii) immediately after giving effect to such transaction, no Default or
Event of Default shall have occurred and be continuing. 
  

	 	(b)	In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor corporation, by supplemental indenture, executed and delivered to
the Trustee and satisfactory in form to the Trustee, of the Subsidiary Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of the Indenture to be performed by the Subsidiary Guarantor, such
successor corporation shall succeed to and be substituted for the Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary Guarantor. Such successor corporation thereupon may cause to be signed any or all of the
Subsidiary Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. All the Subsidiary Guarantees so issued shall in all respects have the same legal
rank and benefit under the Indenture as the Subsidiary Guarantees theretofore and thereafter issued in accordance with the terms of the Indenture as though all of such Subsidiary Guarantees had been issued at the date of the execution hereof.

  

	 	(c)	Except as set forth in Articles IV and V of the Indenture, and notwithstanding clauses (a) and (b) above, nothing contained in the Indenture or in
any of the Notes shall prevent any consolidation or merger of a Subsidiary Guarantor with or into the Company or another Subsidiary Guarantor, or shall prevent any sale or conveyance of the property of a Subsidiary Guarantor as an entirety or
substantially as an entirety to the Company or another Subsidiary Guarantor. 

  

	5.	Releases. 

  

	 	(a)	In the event of (a) the release or discharge of the Guarantee of the Credit Agreement by a Subsidiary Guarantor, except a discharge or release by or as a result of
payment under such Guarantee or (b) a sale or other disposition by way of merger, consolidation or otherwise, of all of the capital stock of any Subsidiary Guarantor, then such Subsidiary Guarantor shall be released and relieved of any
obligations under its Subsidiary Guarantee. 

  

	 	(b)	Any Subsidiary Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest on the
Notes and for the other obligations of any Subsidiary Guarantor under the Indenture as provided in Article X of the Indenture. 

 6. No Recourse Against Others. No past, present or future director, officer, employee, incorporator, stockholder or agent of the Guaranteeing Subsidiary, as such, shall have any liability for any
obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Subsidiary Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each
Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws
and it is the view of the SEC that such a waiver is against public policy. 
 7. NEW YORK LAW TO GOVERN.
THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 
 8.
Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

9. Effect of Headings. The Section headings herein are for convenience only and shall not affect the
construction hereof. 

  
 E-3

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

  
 E-4

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

 

			
	[Guaranteeing Subsidiary]
		
	By:	 	 
		 	 Name:

Title:

  

			
	Peabody Energy Corporation
		
	By:	 	 
		 	 Name:

Title:

  

			
	[EXISTING SUBSIDIARY NOTE GUARANTORS]
		
	By:	 	 
		 	 Name:

Title:

  

			
	U.S. Bank National Association as Trustee
		
	By:	 	 
		 	 Name:

Title:

  
 E-5

 Schedule I 
 SCHEDULE OF SUBSIDIARY GUARANTORS 
 The following schedule lists each Subsidiary
Guarantor under the Indenture as of the date of the Indenture: 
  

	
	 American Land Development, LLC

	 American Land Holdings of Colorado, LLC

	 American Land Holdings of Illinois, LLC

	 American Land Holdings of Indiana, LLC

	 American Land Holdings of Kentucky, LLC

	 American Land Holdings of West Virginia, LLC

	 Arid Operations, Inc.

	 Big Ridge, Inc.

	 Big Sky Coal Company

	 Black Hills Mining Company, LLC

	 BTU Western Resources, Inc.

	 Caballo Grande, LLC

	 Caseyville Dock Company, LLC

	 Central States Coal Reserves of Illinois, LLC

	 Central States Coal Reserves of Indiana, LLC

	 Century Mineral Resources, Inc.

	 Coal Reserves Holding Limited Liability Company No. 1

	 COALSALES II, LLC

	 Colorado Yampa Coal Company

	 Conservancy Resources, LLC

	 Cottonwood Land Company

	 Cyprus Creek Land Company

	 Cyprus Creek Land Resources, LLC

	 Dyson Creek Coal Company, LLC

	 Dyson Creek Mining Company, LLC

	 El Segundo Coal Company, LLC

	 Elkland Holdings, LLC

	 Falcon Coal Company, LLC

	 Gallo Finance Company

	 Gold Fields Chile, LLC

	 Gold Fields Mining, LLC

	 Gold Fields Ortiz, LLC

	 Hayden Gulch Terminal, LLC

	 Highwall Mining Services Company

	 Hillside Recreational Lands, LLC

	 HMC Mining, LLC

	 Illinois Land Holdings, LLC

	 Independence Material Handling, LLC

	 James River Coal Terminal, LLC

	 Juniper Coal Company

	 Kayenta Mobile Home Park, Inc.

	 Kentucky Syngas, LLC

	 Lively Grove Energy, LLC

	 Lively Grove Energy Partners, LLC

	 Marigold Electricity, LLC

	 Midco Supply and Equipment Company

	 Midwest Coal Acquisition Corp.

	 Midwest Coal Reserves of Illinois, LLC

  
 1 

	
	 Midwest Coal Reserves of Indiana, LLC

	 Moffat County Mining, LLC

	 Mustang Energy Company, LLC

	 New Mexico Coal Resources, LLC

	 Pacific Export Resources, LLC

	 Peabody America, Inc.

	 Peabody Archveyor, LLC

	 Peabody Arclar Mining, LLC

	 Peabody Bear Run Mining, LLC

	 Peabody Bear Run Services, LLC

	 Peabody Caballo Mining, LLC

	 Peabody Cardinal Gasification, LLC

	 Peabody COALSALES, LLC

	 Peabody COALTRADE International (CTI), LLC

	 Peabody COALTRADE, LLC

	 Peabody Colorado Operations, LLC

	 Peabody Colorado Services, LLC

	 Peabody Coulterville Mining, LLC

	 Peabody Development Company, LLC

	 Peabody Electricity, LLC

	 Peabody Employment Services, LLC

	 Peabody Energy Generation Holding Company

	 Peabody Energy Investments, Inc.

	 Peabody Energy Solutions, Inc.

	 Peabody Gateway North Mining, LLC

	 Peabody Gateway Services, LLC

	 Peabody Holding Company, LLC

	 Peabody Illinois Services, LLC

	 Peabody Indiana Services, LLC

	 Peabody International Investments, Inc.

	 Peabody International Services, Inc.

	 Peabody Investments Corp.

	 Peabody Midwest Management Services, LLC

	 Peabody Midwest Mining, LLC

	 Peabody Midwest Operations, LLC

	 Peabody Midwest Services, LLC

	 Peabody Natural Gas, LLC

	 Peabody Natural Resources Company

	 Peabody New Mexico Services, LLC

	 Peabody Operations Holding, LLC

	 Peabody Powder River Mining, LLC

	 Peabody Powder River Operations, LLC

	 Peabody Powder River Services, LLC

	 Peabody PowerTree Investments, LLC

	 Peabody Recreational Lands, LLC

	 Peabody Rocky Mountain Management Services, LLC

	 Peabody Rocky Mountain Services, LLC

	 Peabody Sage Creek Mining, LLC

	 Peabody School Creek Mining, LLC

	 Peabody Services Holding, LLC

	 Peabody Southwest, LLC

	 Peabody Southwestern Coal Company

	 Peabody Terminal Holding Company, Inc.

  
 2 

	
	 Peabody Terminals, LLC

	 Peabody Twentymile Mining, LLC

	 Peabody Venezuela Coal Corp.

	 Peabody Venture Fund, LLC

	 Peabody-Waterside Development, LLC

	 Peabody Western Coal Company

	 Peabody Wild Boar Mining, LLC

	 Peabody Wild Boar Services, LLC

	 Peabody Williams Fork Mining, LLC

	 Peabody Wyoming Gas, LLC

	 Peabody Wyoming Services, LLC

	 PEC Equipment Company, LLC

	 Point Pleasant Dock Company, LLC

	 Pond River Land Company

	 Porcupine Production, LLC

	 Porcupine Transportation, LLC

	 Riverview Terminal Company

	 Sage Creek Holdings, LLC

	 School Creek Coal Resources, LLC

	 Seneca Coal Company, LLC

	 Shoshone Coal Corporation

	 Star Lake Energy Company, L.L.C.

	 Sugar Camp Properties, LLC

	 Thoroughbred Generating Company, LLC

	 Thoroughbred Mining Company, LLC

	 Twentymile Coal, LLC

	 West Roundup Resources, LLC

  
 3 

 CROSS-REFERENCE TABLE* 
  

			
	Trust Indenture Act Section	  	Note
Indenture Section
	 310 (a) (1)
	  	7.09
	 (a) (2)
	  	7.09
	 (a) (3)
	  	N.A.
	 (a) (4)
	  	N.A.
	 (b)
	  	7.08
		  	7.10
	 311 (a)
	  	7.13(a)
	 (b)
	  	7.13(b)
	 312 (a)
	  	2.05
	 (b)
	  	12.03
	 (c)
	  	12.03
	 313 (a)
	  	7.15(a)
	 (b)
	  	7.15(b)
	 (c)
	  	7.15(c)
	 (d)
	  	7.15(c)
	 314(c) (1)
	  	12.04
	 (c) (2)
	  	12.04
	 (c) (3)
	  	N.A.
	 (e)
	  	12.05
	 (f)
	  	N.A.
	 315 (a)
	  	7.01(a)
	 (b)
	  	7.02
	 (c)
	  	7.01(b)
	 (d)
	  	7.01(c)
	 (d)(1)
	  	7.01(c)(1)
	 (d)(2)
	  	7.01(c)(2)
	 (d)(3)
	  	7.01(c)(3)
	 (e)
	  	6.11
	 316 (a)
	  	6.04 and 6.05
	 (a) (1) (A)
	  	6.05
	 (a) (1) (B)
	  	6.04
	 (a) (2)
	  	N.A.
	 (b)
	  	6.07
	 317 (a) (1)
	  	6.08
	 (a) (2)
	  	6.09
	 (b)
	  	2.04
	 318 (a)
	  	12.01
	 (b)
	  	N.A.

 N.A. means not applicable. 
  

	*	This Cross-Reference Table is not part of the Indenture. 

  
 4

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