Document:

EX-4.1

 Exhibit 4.1 
  

BANC OF CALIFORNIA, INC., 

U.S. BANK NATIONAL ASSOCIATION, 

as Purchase Contract Agent 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee under the Indenture referred to herein 

 
 PURCHASE CONTRACT AGREEMENT 

 
 Dated as of May 21, 2014 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATIONS	  	 	1	  
	 SECTION 1.01. Definitions
	  	 	1	  
	 SECTION 1.02. Compliance Certificates and Opinions
	  	 	11	  
	 SECTION 1.03. Form of Documents Delivered to Purchase Contract Agent
	  	 	12	  
	 SECTION 1.04. Acts of Holders; Record Dates
	  	 	12	  
	 SECTION 1.05. Notices
	  	 	14	  
	 SECTION 1.06. Notice to Holders; Waiver
	  	 	15	  
	 SECTION 1.07. Effect of Headings and Table of Contents
	  	 	15	  
	 SECTION 1.08. Successors and Assigns
	  	 	15	  
	 SECTION 1.09. Separability Clause
	  	 	16	  
	 SECTION 1.10. Benefits of Agreement
	  	 	16	  
	 SECTION 1.11. Governing Law
	  	 	16	  
	 SECTION 1.12. Judicial Proceedings
	  	 	16	  
	 SECTION 1.13. Legal Holidays
	  	 	16	  
	 SECTION 1.14. Counterparts
	  	 	17	  
	 SECTION 1.15. Inspection of Agreement
	  	 	17	  
	 SECTION 1.16. Waiver of Jury Trial
	  	 	17	  
	 SECTION 1.17. Force Majeure
	  	 	17	  
	 SECTION 1.18. Calculations
	  	 	17	  
	 SECTION 1.19. UCC
	  	 	18	  
	 SECTION 1.20. Conflict with Indenture
	  	 	18	  
	 SECTION 1.21. U.S.A. Patriot Act
	  	 	18	  
		
	ARTICLE II UNIT AND PURCHASE CONTRACT FORMS	  	 	18	  
	 SECTION 2.01. Forms of Units and Purchase Contracts Generally
	  	 	18	  
	 SECTION 2.02. Form of Purchase Contract Agent’s Certificate of Authentication
	  	 	19	  
	 SECTION 2.03. Global Securities; Separation of Units
	  	 	19	  
	 SECTION 2.04. Recreation of Units.
	  	 	20	  
		
	ARTICLE III THE UNITS AND PURCHASE CONTRACTS	  	 	20	  
	 SECTION 3.01. Amount and Denominations
	  	 	20	  
	 SECTION 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities
	  	 	21	  
	 SECTION 3.03. Execution, Authentication, Delivery and Dating
	  	 	21	  
	 SECTION 3.04. [Reserved]
	  	 	22	  
	 SECTION 3.05. Registration; Registration of Transfer and Exchange
	  	 	22	  
	 SECTION 3.06. Book-Entry Interests
	  	 	23	  
	 SECTION 3.07. Notices to Holders
	  	 	24	  
	 SECTION 3.08. Appointment of Successor Depositary
	  	 	24	  
	 SECTION 3.09. Definitive Securities
	  	 	24	  
	 SECTION 3.10. Mutilated, Destroyed, Lost and Stolen Securities
	  	 	24	  
	 SECTION 3.11. Persons Deemed Owners
	  	 	25	  
	 SECTION 3.12. Cancellation
	  	 	27	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
		
	ARTICLE IV SETTLEMENT OF THE PURCHASE CONTRACTS	  	 	27	  
	 SECTION 4.01. Settlement Rate
	  	 	27	  
	 SECTION 4.02. Representations and Agreements of Holders
	  	 	28	  
	 SECTION 4.03. Delivery Upon Settlement of the Purchase Contracts
	  	 	29	  
	 SECTION 4.04. No Fractional Shares
	  	 	30	  
	 SECTION 4.05. Consequences of Bankruptcy
	  	 	30	  
		
	ARTICLE V ADJUSTMENTS	  	 	30	  
	 SECTION 5.01. Adjustments to the Fixed Settlement Rates
	  	 	30	  
	 SECTION 5.02. Business Combinations
	  	 	38	  
	 SECTION 5.03. Early Settlement Upon a Fundamental Change
	  	 	39	  
	 SECTION 5.04. Early Settlement
	  	 	42	  
	 SECTION 5.05. Early Mandatory Settlement at the Company’s Election
	  	 	43	  
		
	ARTICLE VI REMEDIES	  	 	44	  
	 SECTION 6.01. Unconditional Right of Holders to Receive Shares of Common Stock
	  	 	44	  
	 SECTION 6.02. Notice to Purchase Contract Agent; Limitation on Proceedings
	  	 	44	  
	 SECTION 6.03. Restoration of Rights and Remedies
	  	 	44	  
	 SECTION 6.04. Rights and Remedies Cumulative
	  	 	44	  
	 SECTION 6.05. Delay or Omission Not Waiver
	  	 	44	  
	 SECTION 6.06. Undertaking for Costs
	  	 	45	  
	 SECTION 6.07. Waiver of Stay or Execution Laws
	  	 	45	  
	 SECTION 6.08. Control by Majority
	  	 	45	  
		
	ARTICLE VII THE PURCHASE CONTRACT AGENT	  	 	45	  
	 SECTION 7.01. Certain Duties and Responsibilities
	  	 	45	  
	 SECTION 7.02. Notice of Default
	  	 	46	  
	 SECTION 7.03. Certain Rights of Purchase Contract Agent
	  	 	47	  
	 SECTION 7.04. Not Responsible for Recitals
	  	 	49	  
	 SECTION 7.05. May Hold Units and Purchase Contracts
	  	 	49	  
	 SECTION 7.06. Money Held in Custody
	  	 	49	  
	 SECTION 7.07. Compensation, Reimbursement and Indemnification
	  	 	49	  
	 SECTION 7.08. Corporate Purchase Contract Agent Required; Eligibility
	  	 	50	  
	 SECTION 7.09. Resignation and Removal; Appointment of Successor
	  	 	50	  
	 SECTION 7.10. Acceptance of Appointment by Successor
	  	 	51	  
	 SECTION 7.11. Merger; Conversion; Consolidation or Succession to Business
	  	 	52	  
	 SECTION 7.12. Preservation of Information; Communications to Holders
	  	 	52	  
	 SECTION 7.13. No Obligations of Purchase Contract Agent or Trustee
	  	 	53	  
	 SECTION 7.14. Tax Compliance
	  	 	53	  
		
	ARTICLE VIII SUPPLEMENTAL AGREEMENTS	  	 	54	  
	 SECTION 8.01. Supplemental Agreements Without Consent of Holders
	  	 	54	  
	 SECTION 8.02. Supplemental Agreements With Consent of Holders
	  	 	54	  
	 SECTION 8.03. Execution of Supplemental Agreements
	  	 	55	  
	 SECTION 8.04. Effect of Supplemental Agreements
	  	 	55	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
		
	 SECTION 8.05. Reference to Supplemental Agreements
	  	 	55	  
	 SECTION 8.06. Notice of Amendment
	  	 	56	  
		
	ARTICLE IX CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	 	56	  
	 SECTION 9.01. Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property Except Under Certain Conditions
	  	 	56	  
	 SECTION 9.02. Rights and Duties of Successor Entity
	  	 	56	  
		
	ARTICLE X COVENANTS OF THE COMPANY	  	 	57	  
	 SECTION 10.01. Performance Under Purchase Contracts
	  	 	57	  
	 SECTION 10.02. Maintenance of Office or Agency
	  	 	57	  
	 SECTION 10.03. Statements of Officers of the Company as to Default; Notice of Default
	  	 	57	  
	 SECTION 10.04. Existence
	  	 	58	  
	 SECTION 10.05. Company to Reserve Common Stock
	  	 	58	  
	 SECTION 10.06. Covenants as to Common Stock; Listing
	  	 	58	  
	 SECTION 10.07. Tax Treatment
	  	 	58	  

  
 -iii- 

 EXHIBITS: 
  

			
	Exhibit A:	  	Form of Unit
	Exhibit B:	  	Form of Purchase Agreement

  
 -iv- 

 PURCHASE CONTRACT AGREEMENT 

PURCHASE CONTRACT AGREEMENT, dated as of May 21, 2014, among BANC OF CALIFORNIA, INC., a Maryland corporation (the
“Company”), U.S. BANK NATIONAL ASSOCIATION, a national banking association, acting as purchase contract agent (the “Purchase Contract Agent”), and U.S. BANK NATIONAL ASSOCIATION, acting as Trustee under the
Indenture (as defined herein). 
 RECITALS 

The Company has duly authorized the execution and delivery of this Agreement and the Units and Purchase Contracts issuable
hereunder. 
 All things necessary to make the Units and Purchase Contracts, when such are executed by the Company and
authenticated, executed on behalf of the Holders and delivered by the Purchase Contract Agent, as provided in this Agreement, the valid obligations of the Company and to constitute this Agreement a valid agreement of the Company, in accordance with
its terms, have been done. For and in consideration of the premises and the purchase of the Units (including the constituent parts thereof) by the Holders thereof, it is mutually agreed as follows: 

ARTICLE I 
 DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATIONS 
 SECTION 1.01. Definitions.  For all purposes of this
Agreement, except as otherwise expressly provided or unless the context otherwise requires: 

(a)        the terms defined in this Article have the meanings assigned to them in
this Article and include the plural as well as the singular, and nouns and pronouns of the masculine gender include the feminine and neuter genders; 

(b)        all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles in the United States; 

(c)        the words “herein,” “hereof” and “hereunder”
and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section, Exhibit or other subdivision; 

(d)        references herein to Articles, Sections and Exhibits refer to Articles,
Sections and Exhibits of this Agreement, unless the context otherwise requires; and 

(e)        the following terms have the meanings given to them in this
Section 1.01(e): 
 “Act” has the meaning, with respect to any Holder, set forth in Section 1.04.

 “Affiliate” of any specified Person means any other Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, 

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

“Agreement” means this instrument as originally executed or as it may from time to time be supplemented or
amended by one or more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 

“Applicable Market Value” means the average of the Daily VWAPs of the Common Stock on each of the 20
consecutive Trading Days ending on the third Trading Day immediately preceding the Mandatory Settlement Date. 

“applicants” has the meaning set forth in Section 7.12(b). 

“Bankruptcy Code” means Title 11 of the United States Code, as amended, or any insolvency or other similar
Federal or state law for the relief of debtors. 
 “Beneficial Owner” means, with respect to a Book-Entry
Interest, a Person who is the beneficial owner of such Book-Entry Interest as reflected on the books of the Depositary or on the books of a Person maintaining an account with the Depositary (directly as a Depositary Participant or as an indirect
participant, in each case in accordance with the rules of the Depositary). 
 “Board of Directors” means
the board of directors of the Company or a duly authorized committee of that board. 
 “Board Resolution”
means one or more resolutions of the Board of Directors, a copy of which has been certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date
of such certification and delivered to the Purchase Contract Agent. 
 “Book-Entry Interest” means a
beneficial interest in a Global Security, registered in the name of a Depositary or a nominee thereof, ownership and transfers of which shall be maintained and made through book entries by such Depositary as described in Section 3.06. 

“Business Combination” has the meaning set forth in Section 5.02. 

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

“Capital Stock” of any Person means any and all shares, interests, participations or other equivalents,
however designated, of corporate stock or other equity participations, including partnership interests, whether general or limited, of such Person and any rights (other than debt securities convertible or exchangeable into an equity interest),
warrants or options to acquire an equity interest in such Person. 
 “Clearing Agency” means an
organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act. 

  
 2 

 “close of business” means 5:00 p.m. (New York City time). 

“Closing Price” of the Common Stock means, on any date of determination (i) the closing sale price (or,
if no closing sale price is reported, the last reported sale price) of the Common Stock on the NASDAQ Global Select Market on such date or, if the Common Stock is not listed for trading on the NASDAQ Global Select Market on any such date, as
reported in the composite transactions for the principal United States national or regional securities exchange on which the Common Stock is so listed; or (ii) if the Common Stock is not so reported, the last quoted bid price for the Common
Stock in the over-the-counter market as reported by the Pink OTC Markets Inc. or a similar organization, or, if such bid price is not available, the average of the mid-point of the last bid and ask prices of the Common Stock on such date from at
least three nationally recognized independent investment banking firms retained by the Company for this purpose. 

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

“Common Stock” means the common stock, $0.01 par value, of the Company, subject to Section 5.02. 

“Company” means the Person named as the “Company” in the first paragraph of this Agreement until a
successor shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Company” shall mean such successor. 

“Corporate Trust Office” means the corporate trust office of the Purchase Contract Agent at which, at any
particular time, its corporate trust business in New York, New York shall be principally administered, which office at the date hereof is located at U.S. Bank Corporate Trust Services, 100 Wall Street, Suite 1600, New York, New York 10005, except
that with respect to presentation of Units for payment or for registration of transfer or exchange, such term shall mean the office or agency of the Purchase Contract Agent at which at any particular time its corporate agency business shall be
conducted, which office at the date of this instrument is located at 100 Wall Street, Suite 1600, New York, New York 10005; Attention: Account Manager — Banc of California and U.S. Bank Corporate Trust Services, 60 Livingston Avenue, 1st Floor, St. Paul, Minnesota 55107; Attention: Account Manager — Banc of California, or, in the case of any of such offices or agency, such other address as the Purchase Contract Agent may
designate from time to time by notice to the Company. 
 “Daily VWAP” of the Common Stock means, on any
date of determination, the per share volume-weighted average price as displayed under the heading Bloomberg VWAP on the Bloomberg page BANC <equity> AQR (or its equivalent successor if such page is not available) in respect of the period from
the scheduled open of trading on the relevant Trading Day until the scheduled close of trading on the relevant Trading Day (or if such volume-weighted average price is unavailable, the market price of one share of Common Stock on such Trading Day
determined, using a volume-weighted method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). 

“Definitive Equity-Linked Security” means an Equity-Linked Security in definitive form. “Definitive
Security” means any Security in definitive form. 

  
 3 

 “Depositary” means a Clearing Agency that is acting as a
depositary for the Equity-Linked Securities and in whose name, or in the name of a nominee of that organization, shall be registered one or more Global Securities and which shall undertake to effect book-entry transfers of the Equity-Linked
Securities as contemplated by Section 3.06, Section 3.07, Section 3.08 and Section 3.09. 

“Depositary Participant” means a broker, dealer, bank, other financial institution or other Person for whom
from time to time the Depositary effects book-entry transfers of securities deposited with the Depositary. 

“Dividend Threshold Amount” has the meaning set forth in Section 5.01(a)(iv). 

“DTC” means The Depository Trust Company. 

“DWAC System” has the meaning set forth in Section 2.03(a). 

“Early Mandatory Settlement Date” has the meaning set forth in Section 5.05(a). 

“Early Mandatory Settlement Notice” has the meaning set forth in Section 5.05(b). 

“Early Mandatory Settlement Rate” shall be the Maximum Settlement Rate, unless the Closing Price of the
Common Stock for 20 or more Trading Days in a period of 30 consecutive Trading Days ending on the Trading Day immediately preceding the Notice Date exceeds 130% of the Threshold Appreciation Price in effect on each such Trading Day, in which case
the “Early Mandatory Settlement Rate” shall be the Minimum Settlement Rate. 
 “Early Mandatory Settlement
Right” has the meaning set forth in Section 5.05(a). 
 “Early Settlement” has the meaning
set forth in Section 5.04(a). 
 “Early Settlement Date” has the meaning set forth in
Section 5.04(b). 
 “Early Settlement Notice” has the meaning set forth in Section 5.04(b)(i).

 “Early Settlement Rate” for each Purchase Contract means the Minimum Settlement Rate in effect
immediately prior to the close of business on the Early Settlement Date, unless the Holder elects to settle such Purchase Contract in connection with a Fundamental Change, as described in Section 5.03, in which case such Holder shall receive
upon settlement of such Purchase Contract a number of shares of Common Stock (or applicable property) based on the Fundamental Change Early Settlement Rate in effect immediately prior to the close of business on the Early Settlement Date, subject to
adjustment in the same manner and at the same time as each Fixed Settlement Rate is adjusted pursuant to Section 5.01. 

“Effective Date” has the meaning set forth in Section 5.03(c). 

“Equity-Linked Security” means a Unit or a Purchase Contract, as applicable. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

  
 4 

 “Exchange Act” means the Securities Exchange Act of 1934, as
amended, and any statute successor thereto, in each case as amended from time to time, together with the rules and regulations promulgated thereunder. 

“expiration date” has the meaning set forth in Section 1.04(e). 

“Expiration Date” has the meaning set forth in Section 5.01(a)(v). 

“Expiration Time” has the meaning set forth in Section 5.01(a)(v). 

“Ex-Date” means the first date on which shares of Common Stock trade on the applicable exchange or in the
applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise)
as determined by such exchange or market. 
 “Fixed Settlement Rate” has the meaning set forth in
Section 4.01. 
 “Fundamental Change” shall be deemed to occur if any of the following occurs: 

(a)        a “person” or “group” within the meaning of
Section 13(d) of the Exchange Act files a Schedule TO or any schedule, form or report under the Exchange Act disclosing that such person or group has become the direct or indirect ultimate “beneficial owner,” as defined in Rule 13d-3
under the Exchange Act, of the Company’s common equity representing more than 50% of the voting power of the Common Stock; or 

(b)        consummation of any consolidation or merger of the Company or similar
transaction with, or any sale, lease or other transfer in one transaction or a series of transactions of all or substantially all of the property and assets of the Company and its subsidiaries, taken as a whole, to, any Person other than one of the
Company’s Subsidiaries, in each case pursuant to which the Common Stock will be converted into cash, securities or other property; 

provided, however, that (i) any transaction or event described in clause (a) or (b) above where
the holders of the Company’s voting stock immediately prior to such event own, directly or indirectly, more than 50% of the voting stock of the continuing or surviving person or transferee or the parent thereof immediately after such event and
such holders’ proportional voting power immediately after such transaction vis-à-vis each other with respect to the securities they receive in such transaction will be in substantially the same proportions as their respective voting
power vis-à-vis each other immediately prior to such transaction will not constitute a Fundamental Change under such clause (a) or (b) as the case may be; (ii) a Fundamental Change shall not be deemed to have occurred as a
result of a transaction or event described in clause (b) above if at least 90% of the consideration received by holders of the Common Stock, excluding cash payments for fractional shares and cash payments made in respect of dissenters’
appraisal rights, in the transaction or transactions consists of shares of common stock or depositary receipts in respect of common stock that are traded on a U.S. national securities exchange or that will be so traded when issued or exchanged in
connection with such transaction or transactions and (iii) a transaction or event that constitutes a Fundamental Change under both clauses (a) and (b) above 

  
 5 

 
will be deemed to constitute a Fundamental Change solely under clause (b) of this definition of “Fundamental Change.” 

“Fundamental Change Early Settlement Date” has the meaning set forth in Section 5.03(a). 

“Fundamental Change Early Settlement Rate” has the meaning set forth in Section 5.03(c). 

“Fundamental Change Early Settlement Right” has the meaning set forth in Section 5.03(a). 

“Global Note” means a Registered Global Security, as defined in the Indenture, that shall evidence the number
of Separate Notes specified therein. 
 “Global Purchase Contract” means a Purchase Contract in global form
that (i) shall evidence the number of Separate Purchase Contracts specified therein, (ii) shall be registered on the books and records of the Purchase Contract Agent in the name of the Depositary or its nominee and (iii) shall be held
by the Purchase Contract Agent as custodian for the Depositary. 
 “Global Security” means a Global Unit, a
Global Purchase Contract or a Global Note, as applicable. 
 “Global Unit” means a Unit in global form that
(i) shall evidence the number of Units specified therein, (ii) shall be registered on the books and records of the Purchase Contract Agent in the name of the Depositary or its nominee and (iii) shall be held by the Purchase Contract
Agent as custodian for the Depositary. 
 “Holder” means, with respect to a Unit or Purchase Contract, the
Person in whose name the Unit or Purchase Contract, as the case may be, is registered in the Security Register; provided, however, that in determining whether the Holders of the requisite number of Units or Purchase Contracts, as the case may be,
have voted on any matter, then for the purpose of such determination only (and not for any other purpose hereunder), if the Units or Purchase Contracts, as the case may be, remain in the form of one or more Global Securities and if the Depositary
that is the registered holder of such Global Security has sent an omnibus proxy assigning voting rights to the Depositary Participants to whose accounts the Units or Purchase Contracts, as the case may be, are credited on the related record date,
the term “Holder” shall mean such Depositary Participant acting at the direction of the Beneficial Owners. 

“Indenture” means the Junior Subordinated Indenture dated as of May 21, 2014, between the Company and
the Trustee (including any provisions of the Trust Indenture Act that are deemed incorporated therein), as supplemented by the Supplemental Indenture. 

“Issuer Order” or “Issuer Request” means a written order or request signed in the name of
the Company by its Chairman of the Board, its President or one of its Vice Presidents, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Purchase Contract Agent. 

“Mandatory Settlement Date” means May 15, 2017. 

  
 6 

 “Market Disruption Event” means any of the following events that
has occurred (i) any suspension of, or limitation imposed on, trading by the NASDAQ Global Select Market during the one-hour period prior to the close of trading for the regular trading session on the NASDAQ Global Select Market (or for
purposes of determining Daily VWAP any period or periods aggregating one half hour or longer), whether by reason of movements in price exceeding limits permitted by the NASDAQ Global Select Market or otherwise, relating to the Common Stock or in
futures or options contracts relating to the Common Stock on the relevant exchange or quotation system, (ii) any event (other than a failure to open or a closure as described below) that disrupts or impairs the ability of market participants
during the one-hour period prior to the close of trading for the regular trading session on the NASDAQ Global Select Market (or for purposes of determining Daily VWAP any period or periods aggregating one half hour or longer) in general to effect
transactions in, or obtain market values for, the Common Stock on the NASDAQ Global Select Market or futures or options contracts relating to the Common Stock on any relevant exchange or quotation system, or (iii) the failure to open of the
exchange or quotation system on which futures or options contracts relating to the Common Stock are traded or the closure of such exchange or quotation system prior to its respective scheduled closing time for the regular trading session on such day
(without regard to after hours or other trading outside the regular trading session hours) unless such earlier closing time is announced by such exchange or quotation system at least one hour prior to the earlier of the actual closing time for the
regular trading session on such day and the submission deadline for orders to be entered into such exchange or quotation system for execution at the actual closing time on such day. For the purposes of determining a “Market Disruption
Event,” if the Common Stock is not listed on the NASDAQ Global Select Market, the term “NASDAQ Global Select Market” in this definition shall be deemed to be replaced by the principal national securities exchange on which the Common
Stock is listed for trading. 
 “Maximum Settlement Rate” has the meaning set forth in Section 4.01.

 “Merger Common Stock” has the meaning set forth in Section 5.02(b)(i). 

“Merger Valuation Percentage” for any Business Combination shall be equal to (x) the arithmetic average
of the Closing Prices of one share of the Merger Common Stock over the relevant Merger Valuation Period (determined as if references to “Common Stock” in the definition of “Closing Price” were references to the “Merger
Common Stock” for such Business Combination), divided by (y) the arithmetic average of the Closing Prices of one share of Common Stock over the relevant Merger Valuation Period. 

“Merger Valuation Period” for any Business Combination means the five consecutive Trading Day period
immediately preceding, but excluding, the effective date for such Business Combination. 
 “Minimum Settlement
Rate” has the meaning set forth in Section 4.01. 
 “Minimum Stock Price” has the meaning set
forth in Section 5.03(e)(iii). 

  
 7 

 “Notes” means the series of notes designated as the “7.50%
Junior Subordinated Amortizing Notes due May 15, 2017” to be issued by the Company under the Indenture, and “Note” means each note of such series having an initial principal amount of $10.604556. 

“Notice Date” has the meaning set forth in Section 5.05(b)(ii). 

“Officers’ Certificate” when used with respect to the Company, means a certificate signed by the Chief
Executive Officer, any Vice Chairman, the President, any of the Executive Vice Presidents or any of the Senior Vice Presidents, and the Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, or the General Counsel, and
delivered to the Purchase Contract Agent. 
 “Open of business” means 9:00 a.m. (New York City time). 

“Opinion of Counsel” means a written opinion of counsel, who may be counsel to the Company (and who may be an
employee of the Company), and who shall be reasonably acceptable to the Purchase Contract Agent and/or Trustee as applicable. An opinion of counsel may rely on certificates as to matters of fact and shall include the statements provided in
Section 1.02 if and to the extent required thereby. 
 “Outstanding Purchase Contracts” means, as of
the date of determination, all Purchase Contracts theretofore authenticated, executed and delivered under this Agreement (including, for the avoidance of doubt, Purchase Contracts held as a component of Units and Separate Purchase Contracts),
except: 
 (i)        Purchase Contracts theretofore cancelled by the Purchase
Contract Agent or received by the Purchase Contract Agent for cancellation or deemed cancelled pursuant to the provisions of this Agreement; and 

(ii)       Purchase Contracts in exchange for or in lieu of which other Purchase Contracts
have been authenticated, executed on behalf of the Holder and delivered pursuant to this Agreement, other than any such Purchase Contract in respect of which there shall have been presented to the Purchase Contract Agent proof satisfactory to it
that such Purchase Contract is held by a protected purchaser in whose hands the Purchase Contracts are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite number of the Purchase Contracts
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Purchase Contracts owned by the Company or any Affiliate of the Company shall be disregarded and deemed not to be Outstanding Purchase Contracts, except
that, in determining whether the Purchase Contract Agent shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Purchase Contracts that a Responsible Officer of the Purchase Contract
Agent actually knows to be so owned shall be so disregarded. 
 “Participant” has the meaning set forth in
Section 2.03(a). 
 “Paying Agent” has the meaning set forth in Section 10.02. 

  
 8 

 “Person” means a legal person, including any individual,
corporation, estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity of whatever nature.

 “Prospectus Supplement” means the Prospectus Supplement dated May 15, 2014, related to the Units.

 “Purchase Contract” means the contract obligating the Company to deliver shares of Common Stock on the
terms and subject to the conditions set forth herein. 
 “Purchase Contract Agent” means the Person named
as the “Purchase Contract Agent” in the first paragraph of this Agreement until a successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of this Agreement, and thereafter, in each instance,
“Purchase Contract Agent” shall mean such Person. 
 “Purchase Contract Settlement Fund” has the
meaning set forth in Section 4.03(a). 
 “Record Date” means, for purposes of Section 5.01, with
respect to any dividend, distribution or other transaction or event in which the holders of the Common Stock have the right to receive any cash, securities or other property or in which the Common Stock (or other applicable security) is exchanged
for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common Stock entitled to receive such cash, securities or other property (whether such date is fixed by the Board of
Directors or by statute, contract or otherwise). 
 “Reference Price” has the meaning set forth in
Section 4.01. 
 “Reference Property” has the meaning set forth in Section 5.02. 

“Repurchase Date” has the meaning set forth in the Indenture. 

“Repurchase Price” has the meaning set forth in the Indenture. 

“Repurchase Right” has the meaning set forth in the Indenture. 

“Responsible Officer” means, with respect to the Purchase Contract Agent, any officer assigned to the
corporate trust department (or any successor division or unit) of the Purchase Contract Agent located at the Corporate Trust Office, who shall have direct responsibility for the administration of this Agreement. 

“Securities Act” means the Securities Act of 1933, as amended, and any statute successor thereto, in each
case as amended from time to time, and the rules and regulations promulgated thereunder. 
 “Security”
means a Unit, a Purchase Contract or a Note, as applicable. 

  
 9 

 “Security Register” and “Security Registrar”
have the respective meanings set forth in Section 3.05. 
 “Separate Note” has the meaning set forth
in Section 2.03(a). 
 “Separate Purchase Contract” has the meaning set forth in Section 2.03(a).

 “Settlement Rate” has the meaning set forth in Section 4.01. 

“Similar Law” means any federal, state, local, non-U.S., or other laws or regulations that are substantially
similar to any of the provisions of ERISA or Section 4975 of the Code. 
 “Stated Amount” means $50.

 “Stock Price” has the meaning set forth in Section 5.03(c). 

“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 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). 

“Supplemental Indenture” means the First Supplemental Indenture, dated as of May 21, 2014, between the
Company and the Trustee, pursuant to which the Notes will be issued. 
 “Termination Event” means the
occurrence of any of the following events: 
 (i)        at any time on or prior to
the Mandatory Settlement Date, a decree or order by a court having jurisdiction in the premises shall have been entered adjudging the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization of the Company
under the Bankruptcy Code or any other similar applicable Federal or state law and, if such judgment, decree or order shall have been entered more than 60 days prior to the Mandatory Settlement Date, such decree or order shall have continued
undischarged and unstayed for a period of 60 days; 
 (ii)       at any time on or prior
to the Mandatory Settlement Date, a decree or order of a court having jurisdiction in the premises for the appointment of a receiver or liquidator or trustee or assignee (or other similar official) in bankruptcy or insolvency of the Company or of
all or substantially all of its property, or for the winding up or liquidation of its affairs, shall have been entered and, if such decree or order shall have been entered more than 60 days prior to the Mandatory Settlement Date, such judgment,
decree or order shall have continued undischarged and unstayed for a period of 60 days; or 

(iii)      at any time on or prior to the Mandatory Settlement Date, the Company shall institute
proceedings to be adjudicated a voluntary bankrupt, or shall consent to the filing of a 

  
 10 

 
bankruptcy proceeding against it, or shall file a petition or answer or consent seeking reorganization under the Bankruptcy Code or any other similar applicable Federal or state law, or shall
consent to the filing of any such petition, or shall consent to the appointment of a receiver or liquidator or trustee or assignee (or other similar official) in bankruptcy or insolvency of it or of its property, or shall make an assignment for the
benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. 
 For the
avoidance of doubt, a “Termination Event” shall not include any event described in clauses (i) through (iii) above with respect to any Subsidiary of the Company. 

“Threshold Appreciation Price” has the meaning set forth in Section 4.01. 

“Trading Day” means a day on which (i) there is no Market Disruption Event and (ii) the NASDAQ
Global Select Market is open for trading or, if the Common Stock is not then listed on the NASDAQ Global Select Market, the principal other United States national or regional securities exchange on which the Common Stock is then listed is open for
trading or, if the Common Stock is not then listed on a United States national or regional securities exchange, the principal other market on which the Common Stock is then listed or admitted for trading is open for trading. If the Common Stock (or
other security for which a Daily VWAP must be determined) is not listed or admitted for trading as described in clause (ii) of the immediately preceding sentence, “Trading Day” means a “Business Day.” 

“Trustee” means U.S. Bank National Association, as trustee under the Indenture, or any successor thereto.

 “Unit” means the collective rights of a Holder of a unit consisting of one Purchase Contract and one
Note prior to separation pursuant Section 2.03 or subsequent to recreation pursuant to Section 2.04. 

“Unit of Reference Property” has the meaning set forth in Section 5.02. 

“Vice President” means any vice president, whether or not designated by a number or a word or words added
before or after the title “vice president.” 
 “VWAP” per share of any Capital Stock or similar
equity interest on any Trading Day means the per share volume-weighted average price as displayed under the heading Bloomberg VWAP on the relevant Bloomberg page in respect of the period from the scheduled open of trading on such Trading Day until
the scheduled close of trading on such Trading Day (or if such volume-weighted average price is unavailable, the market price of one share of such Capital Stock or similar equity interest on such Trading Day determined, using a volume-weighted
average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). 

SECTION 1.02. Compliance Certificates and Opinions.  Except as otherwise expressly provided by this
Agreement, upon any application or request by the Company to the Purchase Contract Agent to take any action in accordance with any provision of this Agreement, the Company shall furnish to the Purchase Contract Agent an Officers’ Certificate
stating that all 

  
 11 

 
conditions precedent, if any, provided for in this Agreement relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all
such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Agreement relating to such
particular application or request, no additional certificate or opinion need be furnished unless so specified in such provision. 

Every Officers’ Certificate or Opinion of Counsel with respect to compliance with a condition or covenant provided for in
this Agreement shall include: 
 (i)        a statement that each individual signing
such Officers’ Certificate or Opinion of Counsel has read such covenant or condition and the definitions herein relating thereto; 

(ii)       a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such Officers’ Certificate or Opinion of Counsel are based; 

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

(iv)      a statement as to whether, in the opinion of each such individual, such condition or
covenant has been complied with. 
 SECTION 1.03. Form of Documents Delivered to Purchase Contract
Agent.  In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents. Any Officers’ Certificate or Opinion of Counsel may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer
knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her Officers’ Certificate or Opinion of Counsel is based are erroneous. Any such
Officers’ Certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such
factual matters is in the possession of the Company unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements,
opinions or other instruments under this Agreement, they may, but need not, be consolidated and form one instrument. 

SECTION 1.04. Acts of Holders; Record Dates.    Any request, demand, authorization, direction,
notice, consent, waiver or other action provided by this Agreement to be given or taken 

  
 12 

 
by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as
herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Purchase Contract Agent and, where it is hereby expressly required, to the Company. Such instrument or instruments (and
the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Agreement and (subject to Section 7.01) conclusive in favor of the Purchase Contract Agent and the Company, if made in the manner provided in this Section. 

(b)        The fact and date of the execution by any Person of any such instrument or
writing may be proved in any manner which the Purchase Contract Agent deems sufficient. 

(c)        The ownership of Purchase Contracts shall be proved by the Security
Registrar upon review of the Security Register. 
 (d)        Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of any Purchase Contract shall bind every future Holder of the same Purchase Contract and the Holder of such Purchase Contract issued upon the registration of transfer
thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Purchase Contract Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Purchase
Contract. 
 (e)        The Company may set any date as a record date for the
purpose of determining the Holders of Outstanding Purchase Contracts entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Agreement to be given, made or
taken by Holders of Purchase Contracts. If any record date is set pursuant to this paragraph, the Holders of the Outstanding Purchase Contracts on such record date, and no other Holders, shall be entitled to take the relevant action with respect to
the Purchase Contracts, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken prior to or on the applicable expiration date by Holders of the requisite number of
Outstanding Purchase Contracts on such record date. Nothing contained in this paragraph shall be construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and be of no effect), and nothing contained in this paragraph shall be construed to render ineffective any action taken by Holders
of the requisite number of Outstanding Purchase Contracts on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed
action by Holders and the applicable expiration date to be given to the Purchase Contract Agent in writing and to each Holder of Purchase Contracts in the manner set forth in Section 1.06. 

With respect to any record date set pursuant to this Section, the Company may designate any date as the “expiration
date” and from time to time may change the expiration date to any earlier or later day; provided that no such change shall be effective unless notice of the proposed new expiration date is given to the Purchase Contract Agent in writing, and to
each Holder of 

  
 13 

 
Purchase Contracts in the manner set forth in Section 1.06, prior to or on the existing expiration date. If an expiration date is not designated with respect to any record date set pursuant
to this Section, the Company shall be deemed to have initially designated the 180th day after such record date as the expiration date with respect thereto, subject to its right to change the expiration date as provided in this paragraph.
Notwithstanding the foregoing, no expiration date shall be later than the 180th day after the applicable record date. 

SECTION 1.05. Notices.  Any notice or communication is duly given if in writing and delivered in Person or
mailed by first-class mail (registered or certified, return receipt requested), telecopier (with receipt confirmed) or overnight courier guaranteeing next day delivery, to the others’ address; provided that notice shall be deemed given to the
Purchase Contract Agent only upon receipt thereof: 
 If to the Purchase Contract Agent: 

U.S. Bank National Association 

Corporate Trust Services 

100 Wall Street, Suite 1600 

New York, New York 10005 

Attention: Account Manager — Banc of California 

If to the Trustee: 

U.S. Bank National Association 

Corporate Trust Services 

100 Wall Street, Suite 1600 

New York, New York 10005 

Attention: Account Manager — Banc of California 

If to the Company: 

Banc of California, Inc. 

18500 Von Karman Avenue, Suite 1100 

Irvine, California 92612 

Attention: Ronald J. Nicolas Jr., Chief Financial Officer 

Facsimile: (949) 777-5118 

with a courtesy copy, which shall not constitute notice for purposes of the notice requirements hereunder, to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 

New York, New York 10019 

Attention: Matthew M. Guest, Esq. 

Facsimile: (212) 403-2341 

  
 14 

 with a courtesy copy, which shall not constitute notice for purposes of the
notice requirements hereunder, to: 
 Hogan Lovells US LLP 

555 Thirteenth Street, NW 

Washington, D.C. 20004 

Attention: Daniel Keating, Esq. 

Facsimile: (202) 637-5910 

The Purchase Contract Agent shall have the right, but shall not be required, to rely upon and comply with instructions and
directions sent by e-mail, facsimile and other similar unsecured electronic methods by Persons believed by the Purchase Contract Agent to be authorized to give instructions and directions on behalf of the Company. The Purchase Contract Agent shall
have no duty or obligation to verify or confirm that the Person who sent such instructions or directions is, in fact, a Person authorized to give instructions or directions on behalf of the Company; and the Purchase Contract Agent shall have no
liability for any losses, liabilities, costs or expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such instructions or directions. The Company agrees to assume all risks arising out of the use of such
electronic methods to submit instructions and directions to the Purchase Contract Agent, including without limitation the risk of the Purchase Contract Agent acting on unauthorized instructions, and the risk of interception and misuse by third
parties. 
 SECTION 1.06. Notice to Holders; Waiver.    Where this Agreement provides for notice
to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at its address as it appears in the Security
Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice
so mailed to any particular Holder shall affect the sufficiency of such notice with respect to other Holders with respect to whom such notice is properly given. Where this Agreement provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Purchase Contract Agent, but such filing shall not
be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 In case by reason of the
suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the written approval of the Purchase Contract Agent shall constitute a sufficient
notification for every purpose hereunder. 
 SECTION 1.07. Effect of Headings and Table of
Contents.    The Article and Section headings herein and in the Table of Contents are for convenience only and shall not affect the construction hereof. 

SECTION 1.08. Successors and Assigns. All covenants and agreements in this Agreement by the Company and the Purchase
Contract Agent shall bind their respective successors and assigns, whether so expressed or not. 

  
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 SECTION 1.09. Separability Clause.  In case any provision in
this Agreement or in the Purchase Contracts shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof and thereof shall not in any way be affected or impaired thereby. 

SECTION 1.10. Benefits of Agreement.  Nothing contained in this Agreement or in the Purchase Contracts,
express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and, to the extent provided hereby, the Holders, any benefits or any legal or equitable right, remedy or claim under this Agreement. The
Holders from time to time shall be beneficiaries of this Agreement and shall be bound by all of the terms and conditions hereof and of the Purchase Contracts by their acceptance of delivery of such Purchase Contracts. 

SECTION 1.11. Governing Law.      THIS AGREEMENT, THE UNITS AND THE PURCHASE CONTRACTS,
AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE UNITS OR THE PURCHASE CONTRACTS, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 1.12. Judicial Proceedings. 

(a)        Each of the Company and the Purchase Contract Agent expressly accepts and
irrevocably submits to the non-exclusive jurisdiction of the United States Federal or New York State court sitting in the Borough of Manhattan, The City of New York, New York, over any suit, action or proceeding arising out of or relating to this
Agreement or the Purchase Contracts. 
 (b)        Each of the Company and the
Purchase Contract Agent agrees, to the fullest extent that it may effectively do so under applicable law, that a judgment in any suit, action or proceeding of the nature referred to in Section 1.12(a) brought in any such court shall be
conclusive and binding upon such party, subject to rights of appeal, and may be enforced in the courts of the United States of America or the State of New York (or any other court the jurisdiction to which the Company is or may be subject) by a suit
upon such judgment. 
 (c)        Nothing in this Section 1.12 shall affect the
right of any party hereto to serve process in any manner permitted by law, or limit any right to bring proceedings against any other party hereto in the courts of any jurisdiction or to enforce in any lawful manner a judgment obtained in one
jurisdiction in any other jurisdiction. 
 SECTION 1.13. Legal Holidays.  In any case where any Mandatory
Settlement Date, Early Settlement Date, Early Mandatory Settlement Date or Fundamental Change Early Settlement Date shall not be a Business Day, notwithstanding any other provision of this Agreement or the Purchase Contracts, settlement of the
Purchase Contracts shall not be effected on such date, but instead shall be effected on the next succeeding Business Day with the same force and effect as if made on such Mandatory Settlement Date, Early Settlement Date, Early Mandatory Settlement
Date or Fundamental Change Early Settlement Date, as applicable, and no interest or other amounts shall accrue or be payable by the Company or to any Holder in respect of such delay, except that, if such next succeeding Business Day is in the next
succeeding calendar year, such settlement shall be made on the immediately preceding Business Day with the same force and 

  
 16 

 
effect as if made on such Mandatory Settlement Date, Early Settlement Date, Early Mandatory Settlement Date or Fundamental Change Early Settlement Date, as applicable. 

SECTION 1.14. Counterparts.    This Agreement may be executed in any number of counterparts by the
parties hereto on separate counterparts, each of which, when so executed and delivered, shall be deemed an original, but all such counterparts shall together constitute one and the same instrument. 

SECTION 1.15. Inspection of Agreement. A copy of this Agreement shall be available at all reasonable times during
normal business hours at the Corporate Trust Office for inspection by any Holder or Person providing to the Purchase Contract Agent reasonable evidence that it is a Beneficial Owner. 

SECTION 1.16. Waiver of Jury Trial.  EACH OF THE COMPANY, THE PURCHASE CONTRACT AGENT, THE TRUSTEE AND EACH
HOLDER OF AN EQUITY-LINKED SECURITY, BY ITS ACCEPTANCE THEREOF HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 1.17. Force Majeure.  In no event shall either of the
Purchase Contract Agent or the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation,
strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware)
services, it being understood that each of the Purchase Contract Agent and the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the
circumstances. 
 SECTION 1.18. Calculations.  The solicitation of any necessary bids and calculations to
be made hereunder shall be the obligation of the Company. These calculations include, but are not limited to, determination of the applicable Settlement Rate, the Fixed Settlement Rates, the Early Settlement Rate, the Early Mandatory Settlement
Rate, the Fundamental Change Early Settlement Rate, the Applicable Market Value, the Daily VWAP and the VWAP, as the case may be. All calculations made by the Company or its agent as contemplated pursuant to the terms hereof shall be made in good
faith and, absent manifest error, be final and binding on the Purchase Contract Agent, the Trustee, each Paying Agent and on the Holders. For any calculations to be made by the Company or its agent as contemplated pursuant to the terms hereof, the
Company shall provide a schedule of such calculations to the Purchase Contract Agent and the Trustee, and each of the Purchase Contract Agent and the Trustee shall be entitled to conclusively rely upon the accuracy and completeness of the
calculations by the Company or its agent without independent verification, shall in no event be deemed to have acted negligently (even if information so provided would reflect manifest error) and shall have no liability to the Holders for any loss
or damages any of them may incur, in each case, as a result of or in connection with no Purchase Contract Agent, Trustee or any other independent verification having been undertaken or 

  
 17 

 
completed. For the avoidance of doubt, none of the Purchase Contract Agent, Trustee or Paying Agent shall be obligated to make any calculations hereunder or in connection herewith. 

SECTION 1.19. UCC.    Each Purchase Contract (whether or not included in a Unit) is a security
governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York on the date hereof. 
 SECTION
1.20. Conflict with Indenture.  To the extent that any provision of this Purchase Contract Agreement relating to or affecting the Notes conflicts with or is inconsistent with the Indenture, the Indenture shall govern. 

SECTION 1.21. U.S.A. Patriot Act.  The parties hereto acknowledge that in accordance with Section 326 of the
U.S.A. Patriot Act, the Purchase Contract Agent, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal
entity that establishes a relationship or opens an account with the Purchase Contract Agent. The parties to this Agreement agree that they will provide the Purchase Contract Agent with such information as it may request in order for the Purchase
Contract Agent to satisfy the requirements of the U.S.A. Patriot Act. 
 ARTICLE II 

UNIT AND PURCHASE CONTRACT FORMS 

SECTION 2.01. Forms of Units and Purchase Contracts Generally.    The Units and Purchase Contracts
shall be in substantially the forms set forth in Exhibit A and Exhibit B hereto, respectively, which shall be, and hereby are, incorporated in and made a part of this Purchase Contract Agreement, with such letters, numbers or other
marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as may be required by the rules of any securities exchange on which the Units or Purchase Contracts, as the case may be, are (or may in
the future be) listed or any depositary therefor, or as may, consistently herewith, be determined by the officers of the Company executing such Units and Purchase Contracts, as the case may be, as evidenced by their execution thereof. 

The Units and Purchase Contracts shall be issuable only in registered form and only in denominations of a single Unit or
Purchase Contract, as the case may be, and any integral multiple thereof. 
 Each Unit, upon authentication, execution and
delivery thereof hereunder, shall initially consist of (i) the number of Purchase Contracts as shall be indicated in the Purchase Contract attached thereto as Attachment 3 and (ii) the number of Notes as shall be indicated in the Note
attached thereto as Attachment 4, in each case as such numbers may from time to time be reduced or increased, as appropriate in accordance with the terms of this Agreement. 

Definitive Securities shall be printed, lithographed or engraved with steel engraved borders or may be produced in any other
manner, all as determined by the officers of the Company executing the Units or Purchase Contracts, as the case may be, evidenced by such Definitive Securities, consistent with the provisions of this Agreement, as evidenced by their execution
thereof. 

  
 18 

 Every Global Unit and Global Purchase Contract authenticated, executed on behalf
of the Holders and delivered hereunder shall bear a legend in substantially the following form: 
 “THIS SECURITY IS A
GLOBAL [UNIT/PURCHASE CONTRACT] WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE
“DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL [UNIT/PURCHASE CONTRACT] IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL [UNIT/PURCHASE
CONTRACT] IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.” 

SECTION 2.02. Form of Purchase Contract Agent’s Certificate of Authentication. The form of the Purchase Contract
Agent’s certificate of authentication of the Units and Purchase Contracts shall be in substantially the form set forth in the form of Unit or form of Purchase Contract, respectively, attached hereto. 

SECTION 2.03. Global Securities; Separation of Units. 

(a)        On any Business Day during the period beginning on, and including, the
Business Day immediately succeeding the date of this Agreement to, but excluding, the third Business Day immediately preceding the Mandatory Settlement Date, a Holder or Beneficial Owner of a Unit may separate such Unit into its constituent Purchase
Contract and Note (each such separated Purchase Contract and separated Note, a “Separate Purchase Contract” and “Separate Note,” respectively), which will thereafter trade under their respective CUSIP numbers
(05990K130) and (05990KAB2), in which case that Unit will cease to exist. Beneficial interests in a Unit, and after separation, the Separate Purchase Contract and Separate Note, will be shown on and transfers will be effected through direct or
indirect participants in DTC. Beneficial interests in Units, Separate Purchase Contracts and Separate Notes will be evidenced by Global Units, Global Purchase Contracts and Global Notes, respectively. In order to separate a Unit into its component
parts, a 

  
 19 

 
Beneficial Owner must deliver written instructions to the broker or other direct or indirect participant (the “Participant”) through which such Beneficial Owner holds an interest
in such Unit to notify DTC through DTC’s Deposit/Withdrawal at Custodian System (the “DWAC System”) of such Beneficial Owner’s election to separate such Unit, unless such Unit is in the form of a Definitive Security, in
which case the Holder thereof must deliver to the Purchase Contract Agent such Unit, together with a separation notice, in the form set forth in Attachment 1 to the form of Unit attached hereto as Exhibit A. Upon the receipt of such
separation notice, the Company shall promptly cause delivery, in accordance with the delivery instructions set forth in such separation notice, of one Separate Purchase Contract and one Separate Note for each such Unit. Separate Purchase Contracts
and Separate Notes will be transferable independently from each other. 

(b)        Holders which elect to separate the Note and related Purchase Contract in
accordance with this Section 2.03 shall be responsible for any fees or expenses payable in connection with such separation, and the Company shall not be responsible for any such fees or expenses. 

SECTION 2.04. Recreation of Units. 

(a)        On any Business Day during the period beginning on, and including, the
Business Day immediately succeeding the date of this Agreement to, but excluding, the third Business Day immediately preceding the Mandatory Settlement Date, a Holder or Beneficial Owner of a Separate Purchase Contract and a Separate Note may
recreate a Unit (which will thereafter trade under the CUSIP number for the Units (05990K700)), in which case each such Separate Purchase Contract and Separate Note will cease to exist. In order to recreate a Separate Purchase Contract and Separate
Note into a Unit, a Beneficial Owner must deliver written instructions to the Participant through which it holds an interest in such Separate Purchase Contract and Separate Note and to notify DTC through DTC’s DWAC System of such Beneficial
Owner’s election to recreate a Unit, unless such Separate Purchase Contract and Separate Note are in the form of Definitive Securities, in which case the Holder thereof must deliver to the Purchase Contract Agent such Definitive Securities,
together with a recreation notice, in the form set forth in Attachment 2 to the form of Unit attached hereto as Exhibit A. Upon the receipt of such recreation notice, the Company shall promptly cause delivery, in accordance with the delivery
instructions set forth in such recreation notice, of one Unit in definitive form for such Definitive Securities. 

(b)        Holders that recreate Units in accordance with this Section 2.04 shall
be responsible for any fees or expenses payable in connection with such recreation, and the Company shall not be responsible for any such fees or expenses. 

ARTICLE III 
 THE UNITS
AND PURCHASE CONTRACTS 
 SECTION 3.01. Amount and Denominations.    The aggregate number of
Units and Separate Purchase Contracts authenticated, executed on behalf of the Holders and delivered hereunder is limited to 1,380,000, except for Units and Separate Purchase Contracts authenticated, executed and delivered upon registration of
transfer of, in exchange for, or in lieu of, other Units and Separate Purchase Contracts pursuant to Section 3.04, 3.05, 3.10 or 8.05. Equity-Linked 

  
 20 

 
Securities that are not in the form of Global Securities shall be issuable in denominations of one Equity-Linked Security and integral multiples in excess thereof. 

SECTION 3.02. Rights and Obligations Evidenced by the Equity-Linked Securities.  Each Equity-Linked Security
shall evidence the number of Units or Separate Purchase Contracts, as the case may be, specified therein, with each such Unit and each such Separate Purchase Contract representing the rights and obligations of the Holder thereof and the Company
under one Unit or one Separate Purchase Contract, respectively. 
 Prior to the delivery of shares of Common Stock under
each Purchase Contract (whether such Purchase Contract is held as a component of a Unit or as a Separate Purchase Contract), such Purchase Contract shall not entitle the Holder thereof to any of the rights of a holder of Common Stock, including,
without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or for the election of directors for any other matter, or any other
rights whatsoever as a shareholder of the Company. 
 SECTION 3.03. Execution, Authentication, Delivery and
Dating.  Upon the execution and delivery of this Agreement, and at any time and from time to time thereafter, the Company may deliver Equity-Linked Securities executed by the Company to the Purchase Contract Agent and the Trustee for
authentication by the Purchase Contract Agent and the Trustee, execution on behalf of the Holders by the Purchase Contract Agent and delivery by the Purchase Contract Agent and the Trustee, together with the Issuer Order for authentication of such
Equity-Linked Securities, and the Purchase Contract Agent and the Trustee in accordance with such Issuer Order shall, as appropriate, authenticate, execute on behalf of the Holders and deliver such Equity-Linked Securities. For the avoidance of
doubt and notwithstanding anything to the contrary herein, the Company shall not be required to deliver an Opinion of Counsel to the Purchase Contract Agent or the Trustee in connection with or otherwise as a condition to the execution,
authentication or delivery of Equity-Linked Securities that are to be executed, authenticated or delivered on the date hereof. 

The Equity-Linked Securities shall be executed on behalf of the Company by any officer of the Company authorized to so act
pursuant to a resolution of the Board of Directors. The signature of any such officer on the Equity-Linked Securities may be manual or facsimile. 

Equity-Linked Securities bearing the manual or facsimile signature of an individual who was at any time the proper officer of
the Company shall bind the Company, notwithstanding that such individual has ceased to hold such offices prior to the authentication and delivery of such Equity-Linked Securities or did not hold such offices at the date of such Equity-Linked
Securities. 
 Each Equity-Linked Security shall be dated the date of its authentication. 

No Equity-Linked Security shall be entitled to any benefit under this Agreement or be valid or obligatory for any purpose
unless there appears on such Equity-Linked Security a certificate of authentication substantially in the form provided for herein executed by an authorized signatory of the Purchase Contract Agent and the Trustee by manual signature, and such
certificate upon any 

  
 21 

 
Equity-Linked Security shall be conclusive evidence, and the only evidence, that such Equity-Linked Security has been duly authenticated and delivered hereunder. 

SECTION 3.04. [Reserved].  [Reserved.] 

SECTION 3.05. Registration; Registration of Transfer and Exchange. The Company shall cause to be kept at the Corporate
Trust Office a register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Equity-Linked Securities and of transfers of Equity-Linked
Securities. The Purchase Contract Agent is hereby initially appointed Security Registrar (the “Security Registrar”) for the purpose of registration of Equity-Linked Securities and transfers of Equity-Linked Securities as provided
herein. The Security Registrar shall record separately the registration and transfer of the Equity-Linked Securities evidencing Units and Separate Purchase Contracts. 

Upon surrender for registration of transfer of any Equity-Linked Security at the Corporate Trust Office, the Company shall
execute and deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent shall execute on behalf of the designated transferee or transferees, and the Purchase
Contract Agent and the Trustee shall deliver, in the name of the designated transferee or transferees, one or more new Equity-Linked Securities of any authorized denominations, of like tenor, and evidencing a like number of Units or Separate
Purchase Contracts, as the case may be. 
 At the option of the Holder, Equity-Linked Securities may be exchanged for other
Equity-Linked Securities, of any authorized denominations and evidencing a like number of Units or Separate Purchase Contracts, as the case may be, upon surrender of the Equity-Linked Securities to be exchanged at the Corporate Trust Office.
Whenever any Equity-Linked Securities are so surrendered for exchange, the Company shall execute and deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract
Agent shall execute on behalf of the Holder, and the Purchase Contract Agent and the Trustee shall deliver the Equity-Linked Securities that the Holder making the exchange is entitled to receive. 

All Equity-Linked Securities issued upon any registration of transfer or exchange of an Equity-Linked Security shall evidence
the ownership of the same number of Units or Separate Purchase Contracts, as the case may be, and be entitled to the same benefits and subject to the same obligations, under this Agreement as the Units or Separate Purchase Contracts, as the case may
be, evidenced by the Equity-Linked Security surrendered upon such registration of transfer or exchange. 
 Every
Equity-Linked Security presented or surrendered for registration of transfer or exchange shall (if so required by the Purchase Contract Agent) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the
Company, the Purchase Contract Agent and the Trustee duly executed by the Holder thereof, or its attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of an Equity-Linked Security, but the Company may
require payment from the Holder of a sum 

  
 22 

 
sufficient to cover any applicable tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Equity-Linked Securities, other than any
exchanges pursuant to Section 3.06 and Section 8.05 not involving any transfer. 
 Notwithstanding the foregoing,
the Company shall not be obligated to execute and deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall not be obligated to authenticate, the Purchase Contract Agent shall not be obligated to
execute on behalf of the Holder, and the Purchase Contract Agent and the Trustee shall not be obligated to deliver any Equity-Linked Security in exchange for any other Equity-Linked Security presented or surrendered for registration of transfer or
for exchange on or after the Business Day immediately preceding the earliest of the Mandatory Settlement Date, any Early Settlement Date, any Early Mandatory Settlement Date and any Fundamental Change Early Settlement Date with respect to such
Equity-Linked Security. In lieu of delivery of a new Equity-Linked Security, upon satisfaction of the applicable conditions specified above in this Section and receipt of appropriate registration or transfer instructions from such Holder, the
Purchase Contract Agent shall, if the Mandatory Settlement Date, any Early Settlement Date, any Early Mandatory Settlement Date or any Fundamental Change Early Settlement Date shall have occurred with respect to such Equity-Linked Security, deliver
the shares of Common Stock deliverable in respect of the Purchase Contracts evidenced by such Equity-Linked Security (together with the Separate Note, if such Equity-Linked Security is a Unit). 

SECTION 3.06. Book-Entry Interests.  The Units, on original issuance, will be issued in the form of one or
more fully registered Global Units, to be delivered to the Depositary or its custodian by, or on behalf of, the Company. The Company hereby designates DTC as the initial Depositary. Such Global Units shall initially be registered on the books and
records of the Company in the name of Cede & Co., the nominee of DTC, and no Beneficial Owner will receive a Definitive Unit representing such Beneficial Owner’s interest in such Global Unit, except as provided in Section 3.09.
The Purchase Contract Agent shall enter into an agreement with the Depositary if so requested by the Company in writing. The Purchase Contract Agent and Trustee shall have no responsibility or liability for any action or inaction of DTC,
Clearstream, Euroclear or any other depositary or clearing system. Unless and until definitive, fully registered Securities have been issued to Beneficial Owners pursuant to Section 3.09: 

(i)        the provisions of this Section 3.06 shall be in full force and effect;

 (ii)       except as contemplated in the definition of “Holders” in
Section 1.01(e), the Company shall be entitled to deal with the Depositary for all purposes of this Agreement (including receiving approvals, votes or consents hereunder) as the Holder of the Global Units and Global Purchase Contracts and shall
have no obligation to the Beneficial Owners; 
 (iii)      to the extent that the provisions
of this Section 3.06 conflict with any other provisions of this Agreement, the provisions of this Section 3.06 shall control; and 

(iv)      the rights of the Beneficial Owners shall be exercised only through the Depositary and
shall be limited to those established by law and agreements between such Beneficial Owners and the Depositary or the Depositary Participants. 

  
 23 

 SECTION 3.07. Notices to Holders. Whenever a notice or other communication
to the Holders is required to be given under this Agreement, the Company or the Company’s agent shall give such notices and communications to the Holders and, with respect to any Units or Purchase Contracts registered in the name of the
Depositary or the nominee of the Depositary, the Company or the Company’s agent shall, except as set forth herein, have no obligations to the Beneficial Owners. 

SECTION 3.08. Appointment of Successor Depositary.    If the Depositary elects to discontinue its
services as securities depositary with respect to the Units or Purchase Contracts, the Company may, in its sole discretion, appoint a successor Depositary with respect to such Units or such Purchase Contracts, as the case may be. 

SECTION 3.09. Definitive Securities.  If: 

(i)        the Depositary is unwilling or unable to continue as Depositary for the
Global Securities and the Company is unable to find a qualified replacement for the Depositary within 90 days; 

(ii)       at any time the Depositary ceases to be a Clearing Agency; or 

(iii)      the Company in its sole discretion decides to allow some or all Global Securities to
be exchangeable for Definitive Securities, 
 then (x) Definitive Securities shall be prepared by the Company with
respect to such Global Securities and delivered to the Purchase Contract Agent and the Trustee, as appropriate, pending delivery as provided in clause (y) below, and (y) upon surrender of such Global Securities by the Depositary,
accompanied by registration instructions, the Company shall cause Definitive Securities to be delivered to Beneficial Owners in accordance with the instructions of the Depositary. The Company shall not be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Each Definitive Security so delivered shall evidence Units, Purchase Contracts or Notes, as the case may be, of the same kind and tenor as the Global
Security so surrendered in respect thereof. Notwithstanding the foregoing, the exchange of Global Notes for Notes in definitive form shall be governed by the Indenture. 

SECTION 3.10. Mutilated, Destroyed, Lost and Stolen Securities.    If any mutilated Equity-Linked
Security is surrendered to the Purchase Contract Agent, the Company shall execute and deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent shall
execute on behalf of the Holder, and the Purchase Contract Agent and the Trustee shall deliver in exchange therefor, a new Equity-Linked Security, evidencing the same number of Units or Separate Purchase Contracts, as the case may be, and bearing a
security number not contemporaneously outstanding. 
 If there shall be delivered to the Company and the Purchase Contract
Agent (i) evidence to their satisfaction of the destruction, loss or theft of any Equity-Linked Security, and (ii) such security or indemnity as may be reasonably required by them to hold each of them and any agent of any of them harmless,
then, in the absence of notice to the Company, the Purchase Contract Agent or the Trustee that such Equity-Linked Security has been acquired by a protected purchaser, the Company shall execute and deliver to the Purchase Contract Agent

  
 24 

 
and the Trustee, and the Purchase Contract Agent and the Trustee shall authenticate, the Purchase Contract Agent shall execute on behalf of the Holder, and the Purchase Contract Agent and the
Trustee shall deliver to the Holder, in lieu of any such destroyed, lost or stolen Equity-Linked Security, a new Equity-Linked Security, evidencing the same number of Units or Separate Purchase Contracts, as the case may be, and bearing a security
number not contemporaneously outstanding. 
 Notwithstanding the foregoing, the Company shall not be obligated to execute
and deliver to the Purchase Contract Agent and the Trustee, and the Purchase Contract Agent and the Trustee shall not be obligated to authenticate, the Purchase Contract Agent shall not be obligated to execute on behalf of the Holder, and the
Purchase Contract Agent and the Trustee shall not be obligated to deliver to the Holder, an Equity-Linked Security on or after the Business Day immediately preceding the earliest of the Mandatory Settlement Date, any Early Settlement Date, any Early
Mandatory Settlement Date and any Fundamental Change Early Settlement Date with respect to such Equity-Linked Securities. In lieu of delivery of a new Equity-Linked Security, upon satisfaction of the applicable conditions specified above in this
Section and receipt of appropriate registration or transfer instructions from such Holder, the Purchase Contract Agent shall, if the Mandatory Settlement Date, any Early Settlement Date, any Early Mandatory Settlement Date or any Fundamental Change
Early Settlement Date with respect to such Equity-Linked Securities has occurred, deliver the shares of Common Stock deliverable in respect of the Purchase Contracts evidenced by such Equity-Linked Security (together with the Separate Note, if such
Equity-Linked Security is a Unit). 
 Upon the issuance of any new Equity-Linked Security under this Section 3.10, the
Company and the Purchase Contract Agent may require the payment by the Holder of a sum sufficient to cover any applicable tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and
expenses of the Purchase Contract Agent) connected therewith. 
 Every new Equity-Linked Security issued pursuant to this
Section 3.10 in lieu of any destroyed, lost or stolen Equity-Linked Security shall constitute an original additional contractual obligation of the Company and of the Holder in respect of the Unit or Separate Purchase Contract, as the case may
be, evidenced thereby, whether or not the destroyed, lost or stolen Equity-Linked Security shall be found at any time. Such new Equity-Linked Security (and the Units or Separate Purchase Contracts, as applicable, evidenced thereby) shall be at any
time enforceable by anyone, and shall be entitled to all the benefits and be subject to all the obligations of this Agreement equally and proportionately with any and all other Equity-Linked Securities delivered hereunder. 

The provisions of this Section 3.10 are exclusive and shall preclude, to the extent lawful, all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Equity-Linked Securities. 
 SECTION
3.11. Persons Deemed Owners.  Prior to due presentment of an Equity-Linked Security for registration of transfer, the Company and the Purchase Contract Agent, and any agent of the Company or the Purchase Contract Agent, may treat
the Person in whose name such Equity-Linked Security is registered as the absolute owner of the Unit or Purchase Contract, as the 

  
 25 

 
case may be, evidenced thereby, for the purpose of performance of the Units or Purchase Contracts, as applicable, evidenced by such Equity-Linked Securities and for all other purposes whatsoever,
and neither the Company nor the Purchase Contract Agent, nor any agent of the Company or the Purchase Contract Agent, shall be affected by notice to the contrary. 

Notwithstanding the foregoing, with respect to any Global Unit or Global Purchase Contract, nothing contained herein shall
prevent the Company, the Purchase Contract Agent or any agent of the Company or the Purchase Contract Agent, from giving effect to any written certification, proxy or other authorization furnished by the Depositary (or its nominee), as a Holder,
with respect to such Global Unit or Global Purchase Contract or impair, as between such Depositary and the related Beneficial Owner, the operation of customary practices governing the exercise of rights of the Depositary (or its nominee) as Holder
of such Global Unit or Global Purchase Contract. 
 None of the Purchase Contract Agent, the Trustee, the Paying Agent and
the Security Registrar shall have any responsibility or obligation to any Beneficial Owner in a Global Security, an agent member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any agent member,
with respect to any ownership interest in the Securities or with respect to the delivery to any agent member, beneficial owner or other Person (other than the Depositary) of any notice or the payment of any amount, under or with respect to such
Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Securities and this Agreement shall be given or made only to or upon the order of the registered holders (which shall be the
Depositary or its nominee in the case of a Global Security). The rights of beneficial owners in Global Securities shall be exercised only through the Depositary subject to the applicable procedures. The Purchase Contract Agent, the Trustee, the
Paying Agent and the Registrar shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Purchase Contract Agent, the
Trustee, the Paying Agent and the Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered holder of any Global Security for all purposes of this Agreement relating to such Global Security (including
the payment or delivery of amounts due hereunder and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole holder of such Global Security and shall have no
obligations to the beneficial owners thereof. None of the Purchase Contract Agent, the Trustee, the Paying Agent and the Security Registrar shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such
Global Security, for the records of any such Depositary, including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary and any agent member or between or among the
Depositary, any such agent member and/or any holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security. 

Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company, the Purchase
Contract Agent, the Trustee, or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depositary (or its nominee), as a Holder, with respect to such Global Security or
shall impair, as between such Depositary and owners of beneficial interests in such Global Security, the 

  
 26 

 
operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as Holder of such Global Security. 

None of the Purchase Contract Agent, the Trustee, the Paying Agent or the Registrar shall have any obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Agreement or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among participants
of DTC, members or Beneficial Owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this
Agreement, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

SECTION 3.12. Cancellation.  All Securities surrendered for separation or recreation and all Equity-Linked
Securities surrendered for settlement or upon the registration of transfer or exchange of a Purchase Contract shall, if surrendered to any Person other than the Purchase Contract Agent, be delivered to the Purchase Contract Agent and, if not already
cancelled, be promptly cancelled by it. In the case of a Unit or Units surrendered for settlement, the Company and the Trustee shall promptly authenticate and deliver in accordance with the terms of the Indenture to the Holder thereof a number of
Separate Notes equal to the number of, and in the same form as, the Units so surrendered (other than in the case of settlement on the Mandatory Settlement Date if there shall not remain any unpaid amounts payable by the Company with respect to the
Notes, whether in respect of principal, premium or interest thereon or otherwise). The Company may at any time deliver to the Purchase Contract Agent for cancellation any Equity-Linked Securities previously authenticated, executed and delivered
hereunder that the Company may have acquired in any manner whatsoever, and all Equity-Linked Securities so delivered shall, upon an Issuer Order, be promptly cancelled by the Purchase Contract Agent; provided, however, that if the Equity-Linked
Securities so delivered are Units, the Purchase Contract Agent shall deliver the Notes comprising such Units to the Trustee and Paying Agent (as defined in the Indenture) for disposition in accordance with the provisions of the Indenture. No
Equity-Linked Securities shall be authenticated, executed on behalf of the Holder and delivered in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Agreement. All cancelled
Equity-Linked Securities held by the Purchase Contract Agent shall be disposed of in accordance with its customary practices. 

If the Company or any Affiliate of the Company shall acquire any Equity-Linked Security, such acquisition shall not operate as
a cancellation of such Equity-Linked Security unless and until such Equity-Linked Security is delivered to the Purchase Contract Agent for cancellation, in which case such Equity-Linked Security shall be accompanied by an Issuer Order and cancelled
in accordance with the immediately preceding paragraph 
 ARTICLE IV 

SETTLEMENT OF THE PURCHASE CONTRACTS 

SECTION 4.01. Settlement Rate.    Each Purchase Contract obligates the Company to deliver to each
Holder, on the Mandatory Settlement Date, a number of shares of Common Stock (subject to Section 4.04) equal to the Settlement Rate as determined by the Company unless a 

  
 27 

 
Holder settles such Purchase Contract prior to the Mandatory Settlement Date pursuant to Section 5.03, Section 5.04 or Section 5.05. 

The “Settlement Rate” is equal to: 

(i)        if the Applicable Market Value is equal to or greater than $11.247 (the
“Threshold Appreciation Price”), 4.4456 shares of Common Stock for each Purchase Contract (the “Minimum Settlement Rate”); 

(ii)       if the Applicable Market Value is less than the Threshold Appreciation Price but
greater than $9.78 (the “Reference Price”), a number of shares of Common Stock for each Purchase Contract equal to the Stated Amount, divided by the Applicable Market Value; and 

(iii)      if the Applicable Market Value is less than or equal to the Reference Price, 5.1124
shares of Common Stock for each Purchase Contract (the “Maximum Settlement Rate”); 
 provided that
the Maximum Settlement Rate, the Minimum Settlement Rate (each, a “Fixed Settlement Rate”) and the Applicable Market Value shall be subject to adjustment as provided in Article 5. 

SECTION 4.02. Representations and Agreements of Holders.  Each purchaser, Holder and beneficial owner of
Equity-Linked Securities by its acceptance thereof: 
 (i)        irrevocably
authorizes and directs the Purchase Contract Agent to execute and deliver on its behalf and perform this Agreement on its behalf, and appoints the Purchase Contract Agent as its attorney-in-fact for any and all such purposes, but such appointment
shall not create or imply any fiduciary relationship between any Holder and the Purchase Contract Agent; 

(ii)       in the case of a Purchase Contract that is a component of a Unit, or that is
evidenced by a Separate Purchase Contract, irrevocably authorizes and directs the Purchase Contract Agent to execute, deliver and hold on its behalf the Separate Purchase Contract or the component Purchase Contract evidencing such Purchase Contract,
and appoints the Purchase Contract Agent as its attorney-in-fact for any and all such purposes; 

(ii)       consents to, and agrees to be bound by, the provisions hereof; 

(iii)      represents and warrants (in both its individual capacity and its representative
capacity (if any)), on each day from the date on which such purchaser or Holder acquires its interest in any Units (or either components thereof) to the date on which such purchaser or Holder disposes of its interest in any Units (or either
components thereof) and the Common Stock acquired upon settlement of the Purchase Contract component of the Units, that either: 

(A)       its purchase and holding of any Units (or either components thereof) and the
acquisition of Common Stock upon settlement of the Purchase Contract component of the Units is not made on behalf of or with “plan assets” of (a) any employee benefit plan subject to ERISA or (b) any plan, individual retirement
account or other arrangement that is subject to Section 4975 of the Code, or any applicable Similar Law; or 

  
 28 

 (B)       if its purchase and holding of such
investment is made on behalf of or with “plan assets” of any such plan, account or arrangement, then (a) its purchase and holding of such investment will not result in (i) a non-exempt prohibited transaction under
Section 406 of ERISA or Section 4975 of the Code or (ii) a similar violation under any applicable Similar Laws, (b) neither the Company nor any of its Affiliates is acting as a fiduciary (within the meaning of Section 3(21)
of ERISA) in connection with the purchase or holding of such investment, and (c) neither the Company nor any of its Affiliates has provided any advice that has formed or may form a basis for any investment decision concerning the purchase or
holding of such investment; 
 (iv)      in the case of a Holder that holds a Unit and, by
acceptance of a beneficial ownership interest in a Unit, each beneficial owner of a beneficial interest in a Unit agrees, for United States federal, state and local tax purposes, to treat (1) a Unit as an investment unit composed of two
separate instruments, in accordance with its form and (2) the Notes as indebtedness of the Company; and (3) the allocation of the $50 stated amount per Unit between the Purchase Contract and the Note so that such Holder’s initial tax
basis in each Purchase Contract will be $39.39544 and such Holder’s initial tax basis in each Note will be $10.604556; and 

(v)        agrees to be bound by the terms and provisions thereof. 

SECTION 4.03. Delivery Upon Settlement of the Purchase Contracts. 

(a)        Unless the Purchase Contracts have previously settled, the Company shall on
the Mandatory Settlement Date issue and deliver to the Purchase Contract Agent, for the benefit of the Holders of the Outstanding Purchase Contracts, the aggregate number of shares of Common Stock to which such Holders are entitled hereunder,
registered in the name of the Purchase Contract Agent (or its nominee) as custodian for the Holders (such shares of Common Stock, together with any dividends or distributions which shall have been paid thereon, the related record date for which
shall have occurred after the due date for the delivery of the Common Stock to the Purchase Contract Agent, the “Purchase Contract Settlement Fund”). 

(b)        Upon book-entry transfer of the Units or Separate Purchase Contracts or
delivery of Units or Separate Purchase Contracts in definitive form to the Purchase Contract Agent with duly completed transfer instructions by a Holder or by or on behalf of a Beneficial Owner, the Purchase Contract Agent shall transfer to such
Holder or to or on behalf of such Beneficial Owner the shares of Common Stock underlying such Purchase Contracts, together with (i) cash in lieu of fractional shares as provided in Section 4.04, (ii) the Separate Note (in the case of
the transfer or delivery of Units, but not in the case of settlement on the Mandatory Settlement Date if there remain no unpaid amounts thereon (whether principal, premium, interest or otherwise) on the Mandatory Settlement Date) and (iii) any
dividends or distributions with respect to such shares constituting part of the Purchase Contract Settlement Fund, but without any interest thereon, to such Holder by book-entry transfer, or other appropriate procedures, in accordance with such
instructions. 
 Such shares shall be registered in the name of the Holder or the Holder’s designee as specified in the
settlement instructions provided by the Holder to the Purchase Contract Agent, and the Company will pay all stock transfer and similar taxes attributable to the delivery thereof, unless 

  
 29 

 
any such transfer or similar tax is payable in respect of any registration of such shares in a name of a Person other than the Person in whose name the Security evidencing such Purchase Contract
is registered, in which case the Company shall not be required to pay any such transfer or similar tax and no such registration shall be made unless the Person requesting such registration has paid any such transfer or similar taxes required by
reason of such registration in a name of a Person other than the Person in whose name the Security evidencing such Purchase Contract is registered or has established to the satisfaction of the Company that such tax either has been paid or is not
payable. 
 In the event a Holder fails to effect such transfer or delivery, the shares of Common Stock underlying such
Purchase Contracts, and any distributions thereon comprising a part of the Purchase Contract Settlement Fund, shall be held in the name of the Purchase Contract Agent or its nominee in trust for the benefit of such Holder, until the earlier to occur
of: 
 (i)        the surrender of the relevant Units or Separate Purchase Contracts
or receipt by the Company and the Purchase Contract Agent from such Holder of satisfactory evidence that such Units or Separate Purchase Contracts have been destroyed, lost or stolen, together with any indemnity that may be required by the Purchase
Contract Agent and the Company; and 
 (ii)        the expiration of the time period
specified in the abandoned property laws of the relevant jurisdiction. 
 SECTION 4.04. No Fractional
Shares.   No fractional shares of Common Stock or scrip certificates representing fractional shares of Common Stock shall be issued or delivered to Holders upon settlement of the Purchase Contracts. In lieu of any fractional
shares of Common Stock that would otherwise be issuable upon settlement of any Purchase Contracts, a Holder of a Security shall be entitled to receive an amount in cash equal to the fraction of a share of Common Stock, calculated on an aggregate
basis in respect of the Purchase Contracts being settled, multiplied by the Closing Price of the Common Stock on the Trading Day immediately preceding the Mandatory Settlement Date, Early Settlement Date, Early Mandatory Settlement Date or
Fundamental Change Early Settlement Date, as the case may be. The Company shall provide the Purchase Contract Agent from time to time with sufficient funds to permit the Purchase Contract Agent to make all cash payments required by this
Section 4.04 in a timely manner. 
 SECTION 4.05. Consequences of Bankruptcy.  The Mandatory
Settlement Date for each Purchase Contract, whether held separately or as part of a Unit, shall automatically accelerate upon the occurrence of a Termination Event with respect to the Company. Upon such acceleration, Holders will be entitled to
receive a number of shares of Common Stock per Purchase Contract equal to the Maximum Settlement Rate in effect immediately prior to such acceleration (regardless of the market value of the Common Stock at that time). 

ARTICLE V 
 ADJUSTMENTS

 SECTION 5.01. Adjustments to the Fixed Settlement Rates. 

  
 30 

 (a)        Each Fixed Settlement Rate
shall be adjusted, from time to time and without duplication, by the Company as described in this Section 5.01 upon the occurrence of any of the following events: 

(i) the issuance of Common Stock as a dividend or distribution to all holders of Common Stock, or a subdivision or combination
of Common Stock, in which event each Fixed Settlement Rate will be adjusted based on the following formula: 
 SR1 = SR0 x (OS1 ÷
OS0) 
 where, 

 

					
	 SR0
	 	 =
	  	 the Fixed Settlement Rate in effect immediately prior to the open of business on the Ex-Date for such dividend or distribution or immediately prior to the open
of business on the effective date for such subdivision or combination, as the case may be;

			
	 SR1
	 	 =
	  	 the Fixed Settlement Rate in effect immediately after the open of business on such Ex-Date or immediately after the open of business on such effective date, as
the case may be;

			
	 OS0
	 	 =
	  	 the number of shares of Common Stock outstanding immediately prior to such Ex-Date or immediately prior to such effective date, as the case may be, in either
case prior to giving effect to such event; and

			
	 OS1
	 	 =
	  	 the number of shares of Common Stock that would be outstanding immediately after giving effect to such dividend, distribution, subdivision or
combination.

 Any adjustment made under this clause (i) shall become effective immediately after
the open of business on the Ex-Date for such dividend or distribution, or immediately after the open of business on the effective date for such share split or share combination, as the case may be. If any dividend or distribution of the type
described in this clause (i) is declared but not so paid or made, each Fixed Settlement Rate shall be immediately readjusted, effective as of the date the Board of Directors determines not to pay such dividend or distribution, to the Fixed
Settlement Rate that would then be in effect if such dividend or distribution had not been declared. 
 (ii) the issuance to
all holders of Common Stock of rights, options or warrants entitling them for a period expiring 60 days or less from the date of issuance of such rights, options or warrants to subscribe for or purchase shares of Common Stock at less than the
average of the Daily VWAPs for the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding the date of the announcement of such issuance, in which event each Fixed Settlement Rate will be adjusted based on the
following formula: 
 SR1 = SR0 x (OS0 + X) ÷ (OS0 + Y) 

where, 

  
 31 

					
			
	 SR0
	 	 =
	  	 the Fixed Settlement Rate in effect immediately prior to the open of business on the Ex-Date for such issuance;

			
	 SR1
	 	 =
	  	 the Fixed Settlement Rate in effect immediately after the open of business on such Ex-Date;

			
	 OS0
	 	 =
	  	 the number of shares of Common Stock outstanding immediately prior to the open of business on such Ex-Date;

			
	 X
	 	 =
	  	 the total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and

			
	 Y
	 	 =
	  	 the aggregate price payable to exercise such rights, options or warrants, divided by the average of the Daily VWAPs for the 10 consecutive Trading Day period
ending on and including the Trading Day immediately preceding the announcement date for such issuance.

 Any increase made under this clause (ii) will be made successively whenever any
such rights, options or warrants are issued and shall become effective immediately after the open of business on the Ex-Date for such issuance. To the extent that shares of Common Stock are not delivered after the expiration of such rights, options
or warrants, each Fixed Settlement Rate shall be decreased, effective as of the date of such expiration, to the Fixed Settlement Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been
made on the basis of delivery of only the number of shares of Common Stock actually delivered. If such rights, options or warrants are not so issued, each Fixed Settlement Rate shall be decreased, effective as of the date the Board of Directors
determines not to make such issuance, to the Fixed Settlement Rate that would then be in effect if the Record Date for such issuance had not occurred. 

In determining whether any rights, options or warrants entitle the holders to subscribe for or purchase shares of Common Stock
at less than the average of the Daily VWAPs for the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding the announcement date for such issuance, and in determining the aggregate price payable to exercise
such rights, options or warrants, there shall be taken into account any consideration received by the Company for such rights, options or warrants and any amount payable on exercise or conversion thereof, the value of such consideration, if other
than cash, to be determined by the Board of Directors. 
 (iii) the dividend or other distribution to all holders of the
Common Stock of shares of Capital Stock of the Company (other than Common Stock), evidences of the Company’s indebtedness, the Company’s assets or rights to acquire Capital Stock of the Company, indebtedness or assets of the Company
(excluding any dividend, distribution or issuance as to which an adjustment was made pursuant to clauses (i) or (ii) above, (iv) below or the provisions of this clause (iii) relating to spin-offs), in which event each Fixed
Settlement Rate will be adjusted based on the following formula: 

SR1 = SR0 x
SP0 ÷ (SP0 - FMV) 

  
 32 

 where, 

 

			
	 SR0 =
	 	 the Fixed Settlement Rate in effect immediately prior to the open of business on the Ex-Date for such issuance;

		
	 SR1 =
	 	 the Fixed Settlement Rate in effect immediately after the open of business on such Ex-Date;

		
	 SP0 =
	 	 the average of the Daily VWAPs for the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding such Ex-Date;
and

		
	 FMV =
	 	 the fair market value (as determined by the Board of Directors), on the Ex-Date, for such dividend or distribution of the shares of Capital Stock of the
Company, evidences of indebtedness, assets or rights so distributed, expressed as an amount per share of Common Stock.

 Any increase made under this portion of clause (iii) will become effective
immediately after the open of business on the Ex-Date for such dividend or distribution. If such distribution is not so paid or made, each Fixed Settlement Rate shall be decreased, effective as of the date the Board of Directors determines not to
pay the dividend or distribution, to the Fixed Settlement Rate that would then be in effect if such dividend or distribution had not been declared. 

Notwithstanding the foregoing, if the transaction that gives rise to an adjustment pursuant to this clause (iii) is one
pursuant to which the payment of a dividend or other distribution on the Common Stock consists of shares of Capital Stock of, or similar equity interests in, a Subsidiary or other business unit of the Company, (i.e., a spin-off) that are, or, when
issued, will be, traded on a U.S. national or regional securities exchange, then each Fixed Settlement Rate will instead be adjusted based on the following formula: 

SR1 = SR0 x
(FMV0 + MP0) ÷ MP0 

where, 
  

			
	SR0 =	 	 the Fixed Settlement Rate in effect immediately prior to the close of business on the 10th consecutive Trading Day commencing on, and including, the third
Trading Day after the date on which “ex-distribution trading” commences for such dividend or distribution on the relevant exchange;

		
	SR1 =	 	 the Fixed Settlement Rate in effect immediately after the close of business on the 10th consecutive Trading Day commencing on, and including, the third Trading
Day after the date on which “ex-distribution trading” commences for such dividend or distribution on the relevant exchange;

		
	FMV0 =	 	 the average of the VWAPs of the Capital Stock or similar equity interests distributed to holders of Common Stock applicable to one share of Common Stock over
each of the 10 consecutive Trading Days commencing on, and including, the third Trading Day after the date on which “ex-distribution trading”

  
 33 

			
		 	 commences for such dividend or distribution on the NASDAQ Global Select Market or such other United States national or regional securities exchange on which
such Capital Stock or similar equity interests are then listed; and

		
	 MP0 =
	 	 the average of the Daily VWAPs of the Common Stock over each of the 10 consecutive Trading Days commencing on, and including, the third Trading Day after the
date on which “ex-distribution trading” commences for such dividend or distribution.

 The adjustment to each Fixed Settlement Rate under this portion of clause
(iii) will become effective immediately after the close of business on the 10th consecutive Trading Day commencing on, and including, the third Trading Day after the date on which “ex-distribution trading” commences for such dividend
or distribution on the relevant exchange; provided that in respect of any settlement within 10 Trading Days immediately following the third Trading Day after the date on which “ex-distribution trading” commences for such dividend or
distribution on the relevant exchange, the reference set forth in the calculation above to 10 consecutive Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between such third Trading Day and the applicable
settlement date in determining the applicable Fixed Settlement Rates. 
 (iv) the Company makes a distribution consisting
exclusively of cash to all holders of the Common Stock, excluding (a) any cash that is distributed as part of a distribution referred to in clause (iii) above, (b) any consideration payable in connection with a tender or exchange
offer made by the Company or any of its Subsidiaries referred to in clause (v) below and (c) any regular quarterly dividend that does not exceed $0.12 per share (the “Dividend Threshold Amount”), in which event, each Fixed
Settlement Rate will be adjusted based on the following formula: 

SR1 = SR0 x
SP0 ÷ (SP0 - C) 

where, 
  

			
	 SR0 =
	 	 the Fixed Settlement Rate in effect immediately prior to the open of business on the Ex-Date for such distribution;

		
	 SR1 =
	 	 the Fixed Settlement Rate in effect immediately after the open of business on such Ex-Date;

		
	 SP0 =
	 	 the average of the Daily VWAPs for the 10 consecutive Trading Day period ending on and including the Trading Day immediately preceding such Ex-Date;
and

		
	 C      =
	 	 the amount in cash per share the Company distributes to holders of Common stock in excess of the Dividend Threshold Amount; provided that if the distribution is
not a regular quarterly cash dividend, then the Dividend Threshold Amount will be deemed to be zero.

 The Dividend Threshold Amount is subject to adjustment on an inversely proportional
basis whenever the Fixed Settlement Rate is adjusted (by multiplying the Dividend Threshold 

  
 34 

 
Amount by a fraction, the numerator of which will be the Minimum Settlement Rate in effect immediately prior to the adjustment and the denominator of which will be the Minimum Settlement Rate as
adjusted), but no adjustment will be made to the Dividend Threshold Amount for any adjustment made to the Fixed Settlement Rate pursuant to this clause (iv). Any increase to each Fixed Settlement Rate made pursuant to this clause (iv) shall
become effective immediately after the open of business on the Ex-Date for such distribution. If any dividend or distribution described in this clause (iv) is declared but not so paid or made, each Fixed Settlement Rate shall be decreased,
effective as of the date the Board of Directors determines not to pay or make such distribution, to the Fixed Settlement Rate that would then be in effect if such distribution had not been declared. 

(v) the Company or one or more of its Subsidiaries makes purchases of Common Stock pursuant to a tender offer or exchange
offer by the Company or one of its Subsidiaries for Common Stock to the extent that the cash and value of any other consideration included in the payment per share of Common Stock validly tendered or exchanged exceeds the Daily VWAP per share of
Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Date”), in which event each Fixed Settlement Rate will be adjusted
based on the following formula: 
 SR1 = SR0 x (FMV + (SP1 x OS1)) ÷
(SP1 x OS0) 

where, 
  

			
	 SR0 =
	 	 the Fixed Settlement Rate in effect immediately prior to the close of business on the 10th Trading Day immediately following, and including, the Trading Day
next succeeding the Expiration Date;

		
	 SR1 =
	 	 the Fixed Settlement Rate in effect immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next
succeeding the Expiration Date;

		
	 FMV =
	 	 the fair market value (as determined by the Board of Directors), on the Expiration Date, of the aggregate value of all cash and any other consideration paid or
payable for shares validly tendered or exchanged and not withdrawn as of the Expiration Date;

		
	 OS1 =
	 	 the number of shares of Common Stock outstanding immediately after the last time tenders or exchanges may be made pursuant to such tender or exchange offer (the
“Expiration Time”) (after giving effect to the purchase or exchange of shares pursuant to such tender offer or exchange offer);

		
	 OS0 =
	 	 the number of shares of Common Stock outstanding immediately prior to the Expiration Time; and

		
	 SP1 =
	 	 the average Daily VWAPs of the Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day immediately after the
Expiration Date.

  
 35 

 The adjustments to the Fixed Settlement Rates under this clause (v) will
become effective immediately after the close of business on the 10th Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date; provided that in respect of any settlement within 10 Trading Days immediately
following, and including, the Expiration Date, references with respect to 10 Trading Days shall be deemed replaced with such lesser number of Trading Days as have elapsed between the Expiration Date and the applicable settlement date in determining
the applicable Fixed Settlement Rates. If the Company or one of its Subsidiaries is obligated to purchase Common Stock pursuant to any such tender or exchange offer but the Company or the relevant Subsidiary is permanently prevented by applicable
law from effecting any such purchase or all such purchases are rescinded, the Fixed Settlement Rates shall be immediately adjusted to the Fixed Settlement Rates that would then be in effect if such tender or exchange offer had not been made. 

(b)        Except as stated in subsection (a) above or as otherwise agreed, the
Fixed Settlement Rates shall not be adjusted for the issuance of Common Stock or any securities convertible into or exchangeable for Common Stock or carrying the right to purchase any of the foregoing or for the repurchase of Common Stock. In
addition, there shall be no adjustment to the Fixed Settlement Rates in case of the issuance of any shares of Common Stock in a merger, reorganization, acquisition, reclassification, recapitalization or other similar transaction except as provided
in this Section 5.01 and Section 5.02. 
 (c)        To the extent that
the Company has a rights plan in effect upon settlement of a Purchase Contract, the Holder of such Purchase Contract will receive, in addition to Common Stock, the rights under the rights plan, unless, prior to the settlement of such Purchase
Contract, the rights have separated from the Common Stock, in which case each Fixed Settlement Rate shall be adjusted at the time of separation as if the Company made a distribution to all holders of the Common Stock as described in
Section 5.01(a)(iii), subject to readjustment in accordance with Section 5.01 (a)(iii) in the event of the expiration, termination or redemption of such rights. 

(d)        The Company may, but shall not be required to, make such increases in each
Fixed Settlement Rate as the Company deems advisable. The Company may only make such a discretionary adjustment if the Company makes the same proportionate adjustment to each Fixed Settlement Rate. No adjustment in either Fixed Settlement Rate will
be required unless such adjustment would require an increase or decrease of at least one percent; provided, however, that any such minor adjustments that are not required to be made will be carried forward and taken into account in any
subsequent adjustment, and provided further that any such adjustment of less than one percent that has not been made shall be made (x) upon the end of the Company’s fiscal year commencing with the 2014 fiscal year and (y) upon
the Mandatory Settlement Date or any earlier Fundamental Change Early Settlement Date, Early Settlement Date or Early Mandatory Settlement Date. 

(e)        Adjustments to each Fixed Settlement Rate shall be calculated to the
nearest 1/10,000th of a share. 
 (f)        Whenever the Fixed Settlement Rates are
adjusted, the Company must deliver to the Purchase Contract Agent an Officers’ Certificate setting forth each Fixed Settlement Rate, detailing the calculation of each Fixed Settlement Rate and describing the facts upon which the

  
 36 

 
adjustment is based. In addition, the Company must notify the Holders of Units and Separate Purchase Contracts of the adjustment within 10 Business Days of any event requiring such adjustment and
describe in reasonable detail the method by which each Fixed Settlement Rate was adjusted; such notification may be made by a press release (notwithstanding Section 1.06). The Purchase Contract Agent shall not at any time be under any duty or
responsibility to any Holder of Purchase Contracts to determine whether any facts exist that may require any adjustment of any Fixed Settlement Rate or Reference Property, or with respect to the nature or extent or calculation of any such adjustment
when made, or with respect to the method employed in making the same. The Purchase Contract Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock or other Reference Property that
may at the time be delivered with respect to any Purchase Contract, and the Purchase Contract Agent makes no representation with respect thereto. The Purchase Contract Agent shall not be responsible for any failure of the Company to transfer or
deliver any shares of Common Stock or other Reference Property pursuant to a Purchase Contract or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 5. All calculations and determinations
pursuant to this Article 5 shall be made by the Company or its agent and under no circumstances shall the Purchase Contract Agent have any responsibility with respect thereto. 

(g)        Each adjustment to each Fixed Settlement Rate shall result in a
corresponding adjustment to the Early Settlement Rate and the Early Mandatory Settlement Rate. Each adjustment to each Fixed Settlement Rate will also result in a corresponding adjustment to the Applicable Market Value solely to determine which of
the three clauses in the definition of Settlement Rate will be applicable on the Mandatory Settlement Date. In addition, if any adjustment to the Settlement Rate becomes effective, or any Ex-Date or Record Date for any issuance, dividend or
distribution (relating to a required Fixed Settlement Rate adjustment) occurs, during the period beginning on, and including, (i) the open of business on the first Trading Day of the 20 Trading Day period during which the Applicable Market
Value is calculated or (ii) in the case of an Early Settlement, an Early Settlement upon a Fundamental Change or an exercise of the Company’s Early Mandatory Settlement Right, the relevant Early Settlement Date, Fundamental Change Early
Settlement Date or Early Mandatory Settlement Date and, in each case, ending on, and including, the date on which the Company delivers shares of its Common Stock under the related Purchase Contract, the Company will make appropriate adjustments to
the Fixed Settlement Rates, the Applicable Market Value and/or the number of shares of its Common Stock deliverable upon settlement of the Purchase Contract, in each case, consistent with, and in order to give effect to the intent of, the provisions
of this Section 5.01. 
 (h)        In connection with any Business
Combination, the Dividend Threshold Amount shall be subject to adjustment as described in Section 5.02(b). 

(i)        The Board of Directors shall have the power to resolve any ambiguity or,
subject to applicable law, correct any error in this Article 5, and its action in so doing shall be final and conclusive. 

(j)        For purposes of Section 5.01 and Section 5.02, the number of
shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company so long as the Company does not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. 

  
 37 

 SECTION 5.02. Business Combinations. 

(a)        In the event of any consolidation, merger, sale or transfer of assets,
share exchange or other reorganization event, in each case, pursuant to which the Common Stock is converted into the right to receive other securities, cash or property (each, a “Business Combination”), then, at and after the
effective time of the Business Combination, (i) each Purchase Contract then outstanding shall become a Purchase Contract to purchase the kind and amount of securities, cash or property receivable upon any such Business Combination by the holder
of one share of Common Stock, multiplied by the applicable Settlement Rate (the “Reference Property” with each “Unit of Reference Property” meaning the kind and amount of Reference Property that a holder of
one share of Common Stock is entitled to receive in the Business Combination) and (ii) the Applicable Market Value of the Common Stock shall be calculated based on the value of a Unit of Reference Property that a holder of one share of Common
Stock would have received in such transaction, as follows (x) with respect to any publicly traded securities that comprise all or part of the Reference Property, based on the Daily VWAP of such securities which shall be calculated based on the
value of one Unit of Reference Property, (y) in the case of any cash that comprises all or part of the Reference Property, based on the amount of such cash and (z) in the case of any other property that comprises all or part of the
Reference Property, based on the value of such property, as determined by a nationally recognized independent investment banking firm retained by the Company for this purpose. In the event holders of the Common Stock have the opportunity to elect
the form of consideration to be received in such Business Combination, the Reference Property shall be deemed to be the weighted average of the types and amounts of consideration received by the holders of the Common Stock that affirmatively make an
election. In the event of a Business Combination where the Company is not the successor Person, such Person formed by such Business Combination shall execute and deliver to the Purchase Contract Agent an agreement supplemental hereto providing that
each Holder of an Outstanding Purchase Contract (whether or not included in a Unit) shall have the rights provided by this Section 5.02. Such supplemental agreement shall provide for adjustments which, for events subsequent to the effective
date of such Business Combination, shall be as nearly equivalent as may be practicable to the adjustments provided for in Section 5.01 (with respect to any Reference Property consisting of publicly traded common equity securities) and this
Section 5.02. The above provisions of this Section 5.02 shall similarly apply to successive Business Combinations. The Company shall notify Holders of the composition of the Reference Property as soon as practicable after such
determination is made. The Company shall not become a party to any Business Combination unless its terms are consistent with this Section 5.02. 

(b)        In connection with any Business Combination, the Dividend Threshold Amount
shall be subject to adjustment as described in clause (i), clause (ii) or clause (iii) below, as the case may be. 

(i)        In the case of a Business Combination in which the Reference Property
(determined, as appropriate, pursuant to Section 5.02 and excluding cash payments made for fractional shares and cash payments made in respect of any dissenters’ appraisal rights) is composed entirely of shares of common stock (the
“Merger Common Stock”), the Dividend Threshold Amount at and after the effective time of such Business Combination will be equal to (x) the Dividend Threshold Amount immediately prior to the effective time of such Business

  
 38 

 
Combination, divided by (y) the number of shares of Merger Common Stock that a holder of one share of Common Stock would receive in such Business Combination (such quotient rounded
down to nearest cent). 
 (ii)       In the case of a Business Combination in which the
Reference Property (determined, as appropriate, pursuant to Section 5.02 and excluding cash payments made for fractional shares and cash payments made in respect of any dissenters’ appraisal rights) is composed in part of shares of Merger
Common Stock, the Dividend Threshold Amount at and after the effective time of such Business Combination will be equal to (x) the Dividend Threshold Amount immediately prior to the effective time of such Business Combination, multiplied
by (y) the Merger Valuation Percentage for such Business Combination (such product rounded down to nearest cent). 

(iii)       For the avoidance of doubt, in the case of a Business Combination in which the
Reference Property (determined, as appropriate, pursuant to subsection (a) above and excluding cash payments made for fractional shares and cash payments made in respect of any dissenters’ appraisal rights) is composed entirely of
consideration other than shares of common stock, the Dividend Threshold Amount at and after the effective time of such Business Combination will be equal to zero. 

SECTION 5.03. Early Settlement Upon a Fundamental Change. 

(a)       If a Fundamental Change occurs and a Holder elects to settle its Purchase
Contracts early in connection with such Fundamental Change, such Holder shall receive a number of shares of Common Stock (or cash, securities or other property) based on the Fundamental Change Early Settlement Rate (the “Fundamental Change
Early Settlement Right”). An Early Settlement shall be deemed for these purposes to be “in connection with” such Fundamental Change if the Holder delivers an Early Settlement Notice to the Purchase Contract Agent, and otherwise
satisfies the requirements for effecting Early Settlement of its Purchase Contracts, during the period beginning on, and including, the Effective Date of the Fundamental Change and ending on, and including, the 30th Business Day thereafter (or, if
earlier, the third Business Day immediately preceding the Mandatory Settlement Date) (the “Fundamental Change Early Settlement Date”). None of the Purchase Contract Agent, the Trustee or any Paying Agent shall have any duty or
obligation to determine if a Fundamental Change has occurred in connection with the Purchase Contracts. 

(b)       The Company shall provide the Purchase Contract Agent and the Holders of Units
and Separate Purchase Contracts with a notice of a Fundamental Change within five Business Days after its occurrence, issue a press release announcing the Effective Date and post such press release on its website. The notice shall set forth
(i) the applicable Fundamental Change Early Settlement Rate, (ii) the kind and amount of the cash, securities and other consideration receivable by the Holder upon settlement and (iii) the deadline by which each Holder’s
Fundamental Change Early Settlement Right must be exercised. In addition to the foregoing, the notice may set forth such additional information as the Company shall deem appropriate. The Purchase Contract Agent shall have no responsibility or duty
to determine whether a Fundamental Change has occurred. 

  
 39 

 (c)        The “Fundamental
Change Early Settlement Rate” shall be determined by the Company by reference to the table below, based on the date on which the Fundamental Change occurs or becomes effective (the “Effective Date”) and the stock price (the
“Stock Price”) in the Fundamental Change, which shall be: 

(i)        in the case of a Fundamental Change described in clause (ii) of the
definition thereof in which holders of shares of Common Stock receive only cash in the Fundamental Change, the cash amount paid per share of Common Stock; and 

(ii)        in all other cases, the average of the Daily VWAPs of the Common Stock on
each of the 10 consecutive Trading Days ending on and including the Trading Day immediately preceding the Effective Date. 

(d)        The Stock Prices set forth in the first column of the table below shall be
adjusted as of any date on which any Fixed Settlement Rate is otherwise adjusted. The adjusted Stock Prices shall equal the Stock Prices applicable immediately prior to such adjustment, multiplied by a fraction, the numerator of which is the
Minimum Settlement Rate immediately prior to the adjustment giving rise to the Stock Price adjustment and the denominator of which is the Minimum Settlement Rate as so adjusted. The number of shares in the table below shall be adjusted in the same
manner as the Fixed Settlement Rates as set forth in Section 5.01. 

(e)        The following table sets forth the Fundamental Change Early Settlement Rate
per Purchase Contract for each Stock Price and Effective Date set forth below: 
  

									
	 	 	  	 	                Effective Date	 	  	 	  
	Stock Price	 	  

May 21,

2014
	 	  

May 15,  

2015  
	 	  

May 15,  

2016  
	 	  

May 15,            

2017            

	$2.00	 	4.3667	 	4.5958	 	4.8375	 	5.1124        
	$3.00	 	4.3738	 	4.6040	 	4.8459	 	5.1124        
	$4.00	 	4.3699	 	4.6062	 	4.8501	 	5.1124        
	$5.00	 	4.3483	 	4.5977	 	4.8517	 	5.1124        
	$6.00	 	4.3043	 	4.5683	 	4.8454	 	5.1124        
	$7.00	 	4.2408	 	4.5123	 	4.8162	 	5.1124        
	$8.00	 	4.1664	 	4.4340	 	4.7490	 	5.1124        
	$9.00	 	4.0907	 	4.3452	 	4.6456	 	5.1124        
	$9.78	 	4.0357	 	4.2772	 	4.5532	 	5.1124        
	$10.50	 	3.9902	 	4.2200	 	4.4709	 	4.7619        
	$11.00	 	3.9621	 	4.1846	 	4.4197	 	4.5455        
	$11.25	 	3.9493	 	4.1687	 	4.3968	 	4.4456        
	$12.00	 	3.9150	 	4.1262	 	4.3380	 	4.4456        
	$12.33	 	3.9021	 	4.1105	 	4.3176	 	4.4456        
	$12.50	 	3.8958	 	4.1030	 	4.3081	 	4.4456        
	$13.00	 	3.8792	 	4.0835	 	4.2846	 	4.4456        
	$14.00	 	3.8534	 	4.0544	 	4.2537	 	4.4456        
	$15.00	 	3.8354	 	4.0357	 	4.2377	 	4.4456        
	$16.00	 	3.8235	 	4.0244	 	4.2302	 	4.4456        
	$17.00	 	3.8161	 	4.0180	 	4.2271	 	4.4456        
	$18.00	 	3.8117	 	4.0148	 	4.2260	 	4.4456        
	$19.00	 	3.8095	 	4.0134	 	4.2258	 	4.4456        
	$20.00	 	3.8086	 	4.0130	 	4.2259	 	4.4456        

  
 40 

 The exact Stock Prices and Effective Dates may not be set forth in the table
above, in which case: 
 (i)        if the Stock Price is between two Stock Prices
in the table or the Effective Date is between two Effective Dates in the table, the Fundamental Change Early Settlement Rate shall be determined by a straight-line interpolation between the number of shares set forth for the higher and lower Stock
Prices and the earlier and later Effective Dates, as applicable, based on a 365-day year; 

(ii)       if the Stock Price is greater than $20.00 per share, subject to adjustment in
the same manner as the Stock Prices set forth in the table above, the Fundamental Change Early Settlement Rate shall be the Minimum Settlement Rate; or 

(iii)      if the Stock Price is less than $2.00 per share (subject to adjustment in the same
manner as the Stock Prices set forth in the table above, the “Minimum Stock Price”) the Fundamental Change Early Settlement Rate shall be determined as if the Stock Price equaled the Minimum Stock Price, using straight line
interpolation, as described in clause (i) of this Section 5.03(e), if the Effective Date is between two dates in the table. The maximum number of shares of Common Stock deliverable under a Purchase Contract following a Fundamental Change
is 5.1124, subject to adjustment in the same manner as the Fixed Settlement Rates as set forth under Section 5.01. 

(f)        If a Holder exercises its Fundamental Change Early Settlement Right
following the Effective Date of a Fundamental Change described in clause (ii) of the definition thereof, the Company shall deliver to such Holder, for each Purchase Contract being settled early, the kind and amount of securities, cash or other
property that such Holder would have been entitled to receive in such Fundamental Change as a holder of a number of shares of the Common Stock equal to the Fundamental Change Settlement Rate. If such Fundamental Change causes the Common Stock to be
converted into the right to receive more than a single type of consideration (determined based in part upon any form of shareholder election) and the Holder exercises the Fundamental Change Early Settlement Right, the Company shall deliver to such
Holder the types and amounts of consideration as are proportional to the types and amounts of consideration received by the holders of the Common Stock that affirmatively make such an election. The Company shall deliver the shares of Common Stock,
securities, cash or other property payable as a result of such Holder’s exercise of the Fundamental Change Early Settlement Right no later than the third Business Day following the Fundamental Change Early Settlement Date. 

(g)       If a Holder does not elect to exercise the Fundamental Change Early Settlement
Right, such Holder’s Purchase Contracts shall remain outstanding and shall be subject to normal settlement on any subsequent Early Settlement Date, any subsequent Early Mandatory Settlement Date, or any subsequent Fundamental Change Early
Settlement Date or the Mandatory Settlement Date, including, if applicable, the provisions set forth in Section 5.02 regarding the occurrence of a Business Combination. 

(h)       If a Holder exercises the Fundamental Change Early Settlement Right, each of the
Holder, the Company and the Purchase Contract Agent shall be required to comply with their 

  
 41 

 
respective obligations under the provisions of Section 5.04(b)(i) through (iii), (d), (e) and (f) as if an Early Settlement had occurred. 

SECTION 5.04. Early Settlement. 

(a)        Subject to and upon compliance with the provisions of this
Section 5.04, on any Trading Day prior to the third Business Day immediately preceding the Mandatory Settlement Date, a Holder may elect to settle its Purchase Contracts early (“Early Settlement”), in whole or in part, and
receive shares of Common Stock, at the Early Settlement Rate, subject to adjustment as described in Section 5.01. 

(b)        A Holder’s right to receive Common Stock upon Early Settlement of any
of its Purchase Contracts is subject to the following conditions: 

(i)         delivery of a written and signed notice of election (an
“Early Settlement Notice”) to the Purchase Contract Agent electing Early Settlement of such Purchase Contract; 

(ii)        surrendering the relevant Definitive Security, if such Purchase Contract
or the Unit that includes such Purchase Contract is in the form of a Definitive Security, to the Purchase Contract Agent at the Corporate Trust Office duly endorsed for transfer to the Company or in blank with the form of Election to Settle Early on
the reverse thereof duly completed, or if such Purchase Contract is represented by a Global Security, compliance with the applicable procedures of the Depositary; and 

(iii)      payment by such Holder of any transfer or similar taxes payable in connection with
the issuance of Common Stock to any Person other than such Holder pursuant to subsection (d) below. 
 If a Holder
complies with the requirements set forth in clauses (i) through (iii) above earlier than the close of business on any Business Day, then that Business Day shall be considered the “Early Settlement Date.” If a Holder
complies with the requirements set forth in clauses (i) through (iii) above after the close of business on any Business Day or at any time on a day that is not a Business Day, then the next Business Day shall be considered the
“Early Settlement Date.” 
 (c)        Upon surrender or book-entry
transfer of such Purchase Contracts or the related Units, the Company shall cause a number of shares of Common Stock, calculated at the Early Settlement Rate, to be issued and delivered, together with payment in lieu of any fraction of a share as
provided in Section 4.04, no later than the third Business Day following the Early Settlement Date. 

(d)        Any shares referred to in Section 5.04(c) above shall be registered in
the name of the Holder or the Holder’s designee, and shall be delivered, as specified on the applicable form of Election to Settle Early provided by the Holder to the Purchase Contract Agent. If any shares of Common Stock deliverable in respect
of a Purchase Contract are to be registered to a Person other than the Person in whose name the Security evidencing such Purchase Contract is registered, no such registration shall be made unless the Person requesting such registration has paid any
transfer and other taxes required by reason of such registration in a name other than that of the registered 

  
 42 

 
Holder of the Certificate evidencing such Purchase Contract or has established to the satisfaction of the Company that such tax either has been paid or is not payable. 

(e)        In the event that Early Settlement is effected with respect to Purchase
Contracts that are a component of Units, upon such Early Settlement the Company shall execute and the Trustee shall execute on behalf of the Holder, authenticate and deliver to the Holder thereof, at the expense of the Company, a Security, in the
same form as the Units submitted to effect such Early Settlement, evidencing a number of Separate Notes equal to the number of Purchase Contracts as to which Early Settlement was effected. 

(f)        In the event that Early Settlement is effected with respect to Purchase
Contracts represented by fewer than all the Purchase Contracts evidenced by a Security, upon such Early Settlement the Company shall execute and the Purchase Contract Agent shall execute on behalf of the Holder, authenticate and deliver to the
Holder thereof, at the expense of the Company, a Security evidencing the Purchase Contracts as to which Early Settlement was not effected. 

SECTION 5.05. Early Mandatory Settlement at the Company’s Election. 

(a)        The Company has the right to settle the Purchase Contracts early, in whole
but not in part (the “Early Mandatory Settlement Right”), on a date fixed by it (the “Early Mandatory Settlement Date”) at the Early Mandatory Settlement Rate. 

(b)        If the Company elects to exercise its Early Mandatory Settlement Right, the
Company will provide the Purchase Contract Agent and the Holders of Units, Separate Purchase Contracts and Separate Notes with a notice of its election (the “Early Mandatory Settlement Notice”), issue a press release announcing its
election and post such press release on its website. The Early Mandatory Settlement Notice shall specify, among other things: 

(i)        the Early Mandatory Settlement Rate; 

(ii)       the Early Mandatory Settlement Date, which will be at least 5 but no more than
30 Business Days following the date of the Company’s notice (the “Notice Date”); 

(iii)      that Holders of Units and Separate Notes will have the right to require the Company
to repurchase their Notes that are a component of the Units or their Separate Notes, as the case may be, as described in the Indenture; 

(iv)       the Repurchase Price and Repurchase Date (each as defined in the Indenture);

 (v)        the last date on which Holders may exercise their Repurchase Right (as
defined in the Indenture); and 
 (vi)       if applicable, the procedures that Holders
must follow to require the Company to repurchase their Notes (in accordance with the Indenture). 

(c)        Upon surrender or book-entry transfer of such Purchase Contracts or the
related Units, the Company shall cause a number of shares of Common Stock, calculated at the Early 

  
 43 

 
Mandatory Settlement Rate, to be issued and delivered, together with payment in lieu of any fraction of a share as provided in Section 4.04, no later than the Early Mandatory Settlement
Date. 
 ARTICLE VI 

REMEDIES 

SECTION 6.01. Unconditional Right of Holders to Receive Shares of Common Stock. Each Holder of a Purchase Contract
(whether or not included in a Unit) shall have the right, which is absolute and unconditional, to receive the shares of Common Stock pursuant to such Purchase Contract and to institute suit for the enforcement of any such right to receive the shares
of Common Stock, and such right shall not be impaired without the consent of such Holder. 
 SECTION 6.02. Notice to
Purchase Contract Agent; Limitation on Proceedings.  Holders of not less than 25% of outstanding Equity-Linked Securities, by notice given to the Purchase Contract Agent, may request that Purchase Contract Agent to institute
proceedings with respect to a default relating to any covenant hereunder. No Holder of Equity-Linked Securities may institute any proceedings, judicial or otherwise, with respect to this Agreement or for any remedy hereunder, except in the case of
failure of the Purchase Contract Agent, for 60 days, to act after the Purchase Contract Agent has received a written request to institute proceedings in respect of a default with respect to any covenant hereunder from the Holders of not less than
25% of the Outstanding Purchase Contracts, as well as an offer of security or indemnity reasonably satisfactory to the Purchase Contract Agent against the costs, expenses and liabilities that may be incurred in compliance with such request or
direction. This provision will not prevent any Holder of Purchase Contracts from instituting suit for the delivery of Common Stock deliverable upon settlement of the Purchase Contracts on the Mandatory Settlement Date or any Early Settlement Date,
Early Mandatory Settlement Date, or Fundamental Change Settlement Date. 
 SECTION 6.03. Restoration of Rights and
Remedies.   If any Holder has instituted any proceeding to enforce any right or remedy under this Agreement and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to such Holder,
then and in every such case, subject to any determination in such proceeding, the Company and such Holder shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of such Holder shall
continue as though no such proceeding had been instituted. 
 SECTION 6.04. Rights and Remedies
Cumulative.   Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.10, no right or remedy herein conferred upon or
reserved to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

SECTION 6.05. Delay or Omission Not Waiver.  No delay or omission of any Holder to exercise any right or
remedy upon a default hereunder shall impair any such right or remedy or constitute a waiver of any such right. Every right and remedy given by this Article or by law to the 

  
 44 

 
Holders may be exercised from time to time, and as often as may be deemed expedient, by such Holders. 

SECTION 6.06. Undertaking for Costs.   All parties to this Agreement agree, and each Holder of a
Purchase Contract, by its acceptance of such Purchase Contract shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Agreement, or in any suit against the
Purchase Contract Agent for any action taken, suffered or omitted by it as Purchase Contract Agent, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and costs against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided that the provisions of this
Section shall not apply to any suit instituted by (a) the Purchase Contract Agent, (b) any Holder, or group of Holders, holding in the aggregate more than 10% of the Outstanding Purchase Contracts, or (c) any Holder for the
enforcement of the right to receive shares of Common Stock or other Reference Property under the Purchase Contracts held by such Holder. 

SECTION 6.07. Waiver of Stay or Execution Laws.   The Company covenants (to the extent that it may
lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or assume or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect
the covenants or the performance of this Agreement; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of
any power herein granted to the Purchase Contract Agent or the Holders, but will suffer and permit the execution of every such power as though no such law had been enacted. 

SECTION 6.08. Control by Majority.   The Holders of not less than a majority of the Outstanding Purchase
Contracts shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Purchase Contract Agent, or of exercising any trust or power conferred upon the Purchase Contract Agent; provided that
the Purchase Contract Agent has received security or indemnity reasonably satisfactory to it against costs, expenses and liabilities that may be incurred in connection with such request or direction. Notwithstanding the foregoing, the Purchase
Contract Agent may refuse to follow any direction that is in conflict with any law, rule, regulation or order or the Purchase Contract Agreement, that may involve it in personal liability or that may be unduly prejudicial to the Holders of Purchase
Contracts not joining in the action. 
 ARTICLE VII 

THE PURCHASE CONTRACT AGENT 

SECTION 7.01. Certain Duties and Responsibilities. 

(a)        The Purchase Contract Agent: 

(i)         undertakes to perform, with respect to the Purchase Contracts, such
duties and only such duties as are specifically delegated to it and set forth in this Agreement, and no implied 

  
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covenants or obligations shall be read into this Agreement against the Purchase Contract Agent; and 

(ii)       in the absence of bad faith on its own part, may, with respect to the Purchase
Contracts and Equity-Linked Securities, conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Purchase Contract Agent and conforming to the
requirements of this Agreement but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Purchase Contract Agent, the Purchase Contract Agent shall be under a duty to examine
the same to determine whether or not they conform in so far as matters of form but not substance are concerned to the requirements of this Agreement (but need not confirm or investigate the accuracy or completeness of the mathematical calculations
or other facts, statements, opinions or conclusions stated or contained therein and may assume the genuineness of all signatures). 

(b)       No provision of this Agreement shall be construed to relieve the Purchase
Contract Agent from liability for its own grossly negligent action, its own grossly negligent failure to act, its own willful misconduct or its own bad faith (as determined by a court of competent jurisdiction in a final non-appealable order),
except that: 
 (i)        this subsection (b) shall not be construed to limit the
effect of subsections (a) and (c) of this Section; 
 (ii)       the Purchase
Contract Agent shall not be liable for any error of judgment made in good faith by a Responsible Officer or any other Person, unless it shall be proved that a Responsible Officer of the Purchase Contract Agent was grossly negligent in ascertaining
the pertinent facts; 
 (iii)      the Purchase Contract Agent shall not be liable with
respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority of the Outstanding Purchase Contracts, determined as provided herein, relating to the time, method and place of
conducting any proceeding for any remedy available to the Purchase Contract Agent, or exercising any trust or power conferred upon the Purchase Contract Agent, under this Agreement with respect to the Outstanding Purchase Contracts. 

(c)       No provision of this Agreement shall require the Purchase Contract Agent to
expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate security or indemnity against such risk or liability satisfactory to the Purchase Contract Agent is not provided to it. 

(d)       Whether or not herein or therein expressly so provided, every provision of this
Agreement relating to the conduct or affecting the liability of or affording protection to the Purchase Contract Agent shall be subject to the provisions of this Section 7.01. 

SECTION 7.02. Notice of Default.   Within 90 days after a Responsible Officer of the Purchase Contract
Agent has actual knowledge of the occurrence of any default by the Company 

  
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hereunder, the Purchase Contract Agent shall transmit by mail to the Company and the Holders of Equity-Linked Securities, as their names and addresses appear in the Security Register, notice of
such default hereunder, unless such Responsible Officer of the Purchase Contract Agent has actual knowledge that such default shall have been cured or waived. 

SECTION 7.03. Certain Rights of Purchase Contract Agent.  Subject to the provisions of Section 7.01:

 (a)        the Purchase Contract Agent 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, note, other evidence of indebtedness or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(b)        any request or direction of the Company mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate, Issuer Order or Issuer Request, and any resolution of the Board of Directors of the Company may be sufficiently evidenced by a Board Resolution; 

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

(d)        the Purchase Contract Agent may consult with counsel of its selection and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e)        the Purchase Contract Agent shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Purchase
Contract Agent, in its discretion may make such reasonable further inquiry or investigation into such facts or matters related to the execution, delivery and performance of the Purchase Contracts as it may see fit, and, if the Purchase Contract
Agent shall determine to make such further inquiry or investigation, it shall be given a reasonable opportunity, during the Company’s normal business hours, to examine the relevant books, records and premises of the Company, personally or by
agent or attorney, and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

(f)        the Purchase Contract Agent may execute any of the powers hereunder or
perform any duties hereunder either directly or by or through agents, attorneys, or Affiliates and the Purchase Contract Agent shall not be responsible for any misconduct or negligence on the part of any agent, attorney or Affiliate appointed with
due care by it hereunder; 
 (g)        the Purchase Contract Agent shall be under
no obligation to exercise any of the rights or powers vested in it by this Agreement at the request or direction of any of the Holders 

  
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pursuant to this Agreement, unless such Holders shall have provided to the Purchase Contract Agent security or indemnity satisfactory to the Purchase Contract Agent against the costs, expenses
and liabilities that might be incurred by it in compliance with such request or direction; 

(h)        the Purchase Contract Agent shall not be liable for any action taken,
suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement; 

(i)         the Purchase Contract Agent shall not be deemed to have notice or be
charged with knowledge of any adjustment to the Settlement Rate, the occurrence of any Termination Event or any default hereunder unless a Responsible Officer of the Purchase Contract Agent has actual knowledge thereof or unless written notice of
such adjustment to the Settlement Rate, occurrence of any Termination Event or default is received by a Responsible Officer of the Purchase Contract Agent at the Corporate Trust Office of the Purchase Contract Agent, and such notice references the
Purchase Contracts and this Agreement; 
 (j)         the Purchase Contract
Agent 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 Agreement, 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; 

(k)        the rights, privileges, protections, immunities and benefits given to the
Purchase Contract Agent, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Purchase Contract Agent in each of its capacities hereunder (including as Trustee, whether or not the Trustee is
expressly referenced in connection with any such rights, privileges, protections, immunities and benefits), and to each agent, custodian and other Person employed in any capacity whatsoever to act hereunder and shall survive the resignation or
removal of the Purchase Contract Agent and the termination of this Agreement; 

(l)         in no event shall either of the Purchase Contract Agent or the
Trustee be responsible or liable for special, punitive, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Purchase Contact Agent or the Trustee has been
advised of the likelihood of such loss or damage and regardless of the form of action; 

(m)       the Purchase Contract Agent shall not be required to initiate or conduct any
litigation or collection proceedings hereunder and shall have no responsibilities with respect to any default hereunder except as expressly set forth herein; 

(n)        the Purchase Contract Agent shall not be required to give any bond or
surety in respect of the performance of its powers and duties hereunder; and 

(o)        the Purchase Contract Agent may request that the Company deliver a
certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Agreement. 

  
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 SECTION 7.04. Not Responsible for Recitals.   The recitals
contained herein and in the Certificates shall be taken as the statements of the Company, and the Purchase Contract Agent assumes no responsibility for their accuracy or validity. The Purchase Contract Agent makes no representations as to the
validity or sufficiency of either this Agreement or of the Purchase Contracts. The Purchase Contract Agent shall not be accountable for the use or application by the Company of the proceeds in respect of the Purchase Contracts. 

SECTION 7.05. May Hold Units and Purchase Contracts.  Any Security Registrar or any other agent of the
Company, or the Purchase Contract Agent or the Trustee and their respective Affiliates, in their individual or any other capacity, may become the owner of Units, Separate Purchase Contracts and Separate Notes and may otherwise deal with the Company
or any other Person with the same rights it would have if it were not Security Registrar or such other agent, or the Purchase Contract Agent. The Company may become the owner of Units, Separate Purchase Contracts and Separate Notes. 

SECTION 7.06. Money Held in Custody.  Money held by the Purchase Contract Agent in custody hereunder need not
be segregated from other funds except to the extent required by law or provided herein. The Purchase Contract Agent shall be under no obligation to invest or pay interest on any money received by it hereunder. 

SECTION 7.07. Compensation, Reimbursement and Indemnification.     The Company agrees: 

(a)        to pay to the Purchase Contract Agent, from time to time, compensation for
all services rendered by it hereunder as the Company and the Purchase Contract Agent shall from time to time agree in writing (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express
trust); 
 (b)        except as otherwise expressly provided for herein, to
reimburse the Purchase Contract Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by the Purchase Contract Agent in accordance with any provision of this Agreement (including the reasonable compensation
and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be determined to have been caused by the Purchase Contract Agent’s own gross negligence, willful misconduct or bad faith (as
determined by a court of competent jurisdiction in a final non-appealable order); and 

(c)        to indemnify the Purchase Contract Agent and any predecessor Purchase
Contract Agent, the Trustee and their respective directors, officers, employees, agents and representatives for, and to hold them harmless against, any loss, liability or expense (including, without limitation, damages, fines, penalties, suits,
actions, demands, costs, and legal fees and expenses) incurred without gross negligence, willful misconduct or bad faith on their part (as determined by a court of competent jurisdiction in a final non-appealable order), and further including taxes
(other than taxes based upon, measured by or determined by the income of the Purchase Contract Agent or the Trustee) related to, arising out of or in connection with the acceptance or administration of the Purchase Contract Agent’s or the
Trustee’s duties hereunder or any modification, supplement or waiver of any of the terms hereof, including the costs and expenses of defending itself against any claim (whether asserted by the Company, a Holder or any other person) or liability
in connection 

  
 49 

 
with the exercise or performance of any of its powers or duties hereunder, or in connection with enforcing the provisions hereof. 

The provisions of this Section shall survive the resignation and removal of the Purchase Contract Agent, the satisfaction and
discharge of the Equity-Linked Securities and the termination for any reason of this Agreement. 
 As security for the
performance of the obligations of the Company under this Section the Purchase Contract Agent shall have a lien prior to the Securities upon all property and funds held or collected by the Purchase Contract Agent as such, except funds held in trust
for the payment of principal of (and premium, if any) or interest on particular Securities. 
 SECTION 7.08. Corporate
Purchase Contract Agent Required; Eligibility.  There shall at all times be a Purchase Contract Agent hereunder which shall be an entity organized and doing business under the laws of the United States of America, any State thereof or
the District of Columbia, authorized under such laws to exercise corporate trust powers, having (or being a member of a bank holding company having) a combined capital and surplus of at least $50,000,000, subject to supervision or examination by
Federal or State authority and having a corporate trust office in the Borough of Manhattan, New York City, if there be such an entity in the Borough of Manhattan, New York City, qualified and eligible under this Article and willing to act on
reasonable terms. If such entity publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such
entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Purchase Contract Agent shall cease to be eligible in accordance with the provisions of this Section,
it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 
 SECTION 7.09.
Resignation and Removal; Appointment of Successor. 
 (a)        No
resignation or removal of the Purchase Contract Agent and no appointment of a successor Purchase Contract Agent pursuant to this Article shall become effective until the acceptance of appointment by the successor Purchase Contract Agent in
accordance with the applicable requirements of Section 7.10 and, unless waived by the Purchase Contract Agent, the payment in full of all amounts due and owing to such Purchase Contract Agent hereunder. 

(b)        The Purchase Contract Agent may resign at any time by giving written notice
thereof to the Company at least 60 days prior to the effective date of such resignation. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have been delivered to the Purchase Contract
Agent within 30 days after the giving of such notice of resignation, the resigning Purchase Contract Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent.

 (c)        The Purchase Contract Agent may be removed at any time by Act of the
Holders of a majority of the Outstanding Purchase Contracts delivered to the Purchase Contract Agent and the Company. If the instrument of acceptance by a successor Purchase Contract Agent required by

  
 50 

 
Section 7.10 shall not have been delivered to the Purchase Contract Agent within 30 days after the delivery of such Act, the removed Purchase Contract Agent may petition, at the expense of
the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent. 

(d)       If at any time: 

(i)        the Purchase Contract Agent shall cease to be eligible under
Section 7.08 and shall fail to resign after written request therefor by the Company or by any such Holder; or 

(ii)       the Purchase Contract Agent shall be adjudged bankrupt or insolvent or a
receiver of the Purchase Contract Agent or of its property shall be appointed or any public officer shall take charge or control of the Purchase Contract Agent or of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, then, in any such case, (x) the Company by a Board Resolution may remove the Purchase Contract Agent, or (y) any Holder who has been a bona fide Holder of a Purchase Contract 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 Purchase Contract Agent and the appointment of a successor Purchase Contract Agent. 

(e)        If the Purchase Contract Agent shall resign, be removed or become incapable
of acting, or if a vacancy shall occur in the office of the Purchase Contract Agent for any cause, the Company, by a Board Resolution, shall promptly appoint a successor Purchase Contract Agent and shall comply with the applicable requirements of
Section 7.10. If no successor Purchase Contract Agent shall have been so appointed by the Company and accepted appointment in the manner required by Section 7.10, any Holder who has been a bona fide Holder of a Purchase Contract for at
least six months, on behalf of itself and all others similarly situated, or the Purchase Contract Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent. 

(f)        The Company shall give, or shall cause such successor Purchase Contract
Agent to give, notice of each resignation and each removal of the Purchase Contract Agent and each appointment of a successor Purchase Contract Agent by mailing written notice of such event by first-class mail, postage prepaid, to Holders as their
names and addresses appear in the applicable Register. Each notice shall include the name of the successor Purchase Contract Agent and the address of its Corporate Trust Office. 

(g)       At any time there shall be only one Purchase Contract Agent with respect to the
Securities. 
 SECTION 7.10. Acceptance of Appointment by Successor. 

(a)        In case of the appointment hereunder of a successor Purchase Contract
Agent, every such successor Purchase Contract Agent so appointed shall execute, acknowledge and deliver to the Company and to the retiring Purchase Contract Agent an instrument accepting such appointment, and thereupon the resignation or removal of
the retiring Purchase Contract Agent shall become effective and such successor Purchase Contract Agent, without any further act, deed or conveyance, shall become vested with all the rights, powers, agencies and duties of the retiring

  
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Purchase Contract Agent; but, at the request of the Company or the successor Purchase Contract Agent, such retiring Purchase Contract Agent shall, upon its receipt of payment of its charges and
all other amounts payable to it hereunder, execute, acknowledge and deliver an instrument transferring to such successor Purchase Contract Agent all the rights, powers and trusts of the retiring Purchase Contract Agent (other than rights to
indemnification, compensation and reimbursement of expenses) and shall duly assign, transfer and deliver to such successor Purchase Contract Agent all property and money held by such retiring Purchase Contract Agent hereunder (other than those
relating to unassigned rights). 
 (b)        Upon request of any such successor
Purchase Contract Agent, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Purchase Contract Agent all such rights, powers and agencies referred to in paragraph
Section 7.10(a) of this Section. 
 (c)        No successor Purchase Contract
Agent shall accept its appointment unless at the time of such acceptance such successor Purchase Contract Agent shall be qualified and eligible under this Article. 

(d)        Upon acceptance of appointment by a successor Purchase Contract Agent as
provided in this Section, the Company shall transmit notice of the succession of such Purchase Contract Agent hereunder by mail, first class postage prepaid, to the Holders, as their names and addresses appear upon the Security Register. If the
Company fails to transmit such notice within ten days after acceptance of appointment by the successor Purchase Contract Agent, the successor Purchase Contract Agent shall cause such notice to be transmitted at the expense of the Company. A
resigning or removed Purchase Contract Agent shall have no responsibility or liability for the action or inaction of any successor Purchase Contract Agent. 

SECTION 7.11. Merger; Conversion; Consolidation or Succession to Business.    Any Person into which
the Purchase Contract Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Purchase Contract Agent shall be a party, or any entity succeeding to all
or substantially all the corporate trust business of the Purchase Contract Agent, shall be the successor of the Purchase Contract Agent hereunder, without the execution or filing of any paper or any further act on the part of any of the parties
hereto; provided that such Person shall be otherwise qualified and eligible under this Article. If any Securities shall have been authenticated and executed on behalf of the Holders, but not delivered, by the Purchase Contract Agent then in office,
any successor by merger, conversion or consolidation to such Purchase Contract Agent may adopt such authentication and execution and deliver the Securities so authenticated and executed with the same effect as if such successor Purchase Contract
Agent had itself authenticated and executed such Purchase Contracts. 
 SECTION 7.12. Preservation of Information;
Communications to Holders. 
 (a)        The Purchase Contract Agent shall
preserve, in as current a form as is reasonably practicable, the names and addresses of Holders as received by the Purchase Contract Agent in its capacity as Security Registrar. 

  
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 (b)        If three or more Holders (such
three or more Holders, the “applicants”) apply in writing to the Purchase Contract Agent, and furnish to the Purchase Contract Agent reasonable proof that each such applicant has owned a Unit or Separate Purchase Contract 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 Agreement or under the Units or Separate Purchase Contracts
and is accompanied by a copy of the form of proxy or other communication that such applicants propose to transmit, then the Purchase Contract Agent shall mail to all the Holders copies of the form of proxy or other communication that is specified in
such request, with reasonable promptness after a tender to the Purchase Contract Agent of the materials to be mailed and of payment, or provision for the payment acceptable to the Purchase Contract Agent, of the reasonable expenses of such mailing.

 SECTION 7.13. No Obligations of Purchase Contract Agent or Trustee.  Except to the extent otherwise
expressly provided in this Agreement, the Purchase Contract Agent and the Trustee assume no obligations and shall not be subject to any liability under this Agreement or Security evidencing a Unit or Purchase Contract in respect of the obligations
of the Holder of any Unit or Purchase Contract thereunder. The Company agrees, and each Holder of a Note, by his or her acceptance thereof, shall be deemed to have agreed, that the Purchase Contract Agent’s execution of the Securities on behalf
of the Holders shall be solely as agent and attorney-in-fact for the Holders, and that the Purchase Contract Agent shall have no obligation to perform such Purchase Contracts (whether held as components of Units or Separate Purchase Contracts) on
behalf of the Holders, except to the extent expressly provided in Article 3 hereof. Anything contained in this Agreement to the contrary notwithstanding, in no event shall the Purchase Contract Agent or the Trustee or their respective officers,
directors, employees or agents be liable under this Agreement to any third party for indirect, special, punitive, or consequential loss or damage of any kind whatsoever, including lost profits. 

SECTION 7.14. Tax Compliance. 

(a)        The Company and the Purchase Contract Agent shall comply with all
applicable certification, information reporting and withholding (including “backup” withholding) requirements imposed by applicable tax laws, regulations or administrative practice with respect to (i) any payments made with respect to
the Purchase Contracts or (ii) the issuance, delivery, holding, transfer, redemption or exercise of rights under the Purchase Contracts. Such compliance shall include, without limitation, the preparation and timely filing at the expense of the
Company of required returns and the timely payment of all amounts required to be withheld to the appropriate taxing authority or its designated agent. The Company shall deliver to the Purchase Contract Agent an Officers’ Certificate similar to
that required to be provided under Section 4.06 of the Indenture setting forth all necessary information to enable the Purchase Contract Agent to comply with the provisions of this Section 7.14. 

(b)        The Purchase Contract Agent shall comply in accordance with the terms
hereof with any written direction received from the Company with respect to the execution or certification of any required documentation and the application of such requirements to particular payments or Holders or in other particular circumstances,
and may for purposes of this Agreement conclusively rely on any such direction in accordance with the provisions of Section 7.01(a)(ii) hereof. 

  
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 (c)        The Purchase Contract Agent
shall maintain, and the Company shall cooperate in the maintenance of all appropriate records documenting compliance with such requirements, and shall make such records available, on written request, to the Company or its authorized representative
within a reasonable period of time after receipt of such request. 
 ARTICLE VIII 

SUPPLEMENTAL AGREEMENTS 

SECTION 8.01. Supplemental Agreements Without Consent of Holders.    Without the consent of any
Holders, the Company, the Purchase Contract Agent and the Trustee, at any time and from time to time, may enter into one or more agreements supplemental hereto, in form satisfactory to the Company, the Purchase Contract Agent and the Trustee, to:

 (i)         evidence the succession of another Person to the Company’s
obligations; 
 (ii)        add to the covenants for the benefit of Holders or to
surrender any of the Company’s rights or powers hereunder; 
 (iii)       evidence
and provide for the acceptance of appointment of a successor Purchase Contract Agent; 

(iv)       make provision with respect to the rights of Holders pursuant to adjustments in
the Settlement Rate due to Business Combinations as described in this Agreement; 

(v)        conform the provisions of this Agreement to the “Description of the
Purchase Contracts” section in the Prospectus Supplement; 
 (vi)       evidence
waiver by the Company of or to remove from this Agreement the Company’s rights to settle the Purchase Contracts early pursuant to Section 5.05 hereof; 

(vii)      cure any ambiguity or omission or to correct or supplement any provisions that may be
defective or inconsistent with other provisions hereof, provided such change does not adversely affect the interests or rights of any Holder in any material respect; or 

(viii)     to make any other change that does not adversely affect the interests or rights of any
Holder in any material respect. 
 SECTION 8.02. Supplemental Agreements With Consent of Holders.  With the
consent of the Holders of not less than a majority of the Outstanding Purchase Contracts voting together as one class, by Act of said Holders delivered to the Company, the Purchase Contract Agent and the Trustee, the Company, when authorized by a
Board Resolution, and the Purchase Contract Agent and the Trustee may enter into an agreement or agreements supplemental hereto for the purpose of modifying in any manner the terms of the Purchase Contracts, or the provisions of this Agreement or
the rights of the Holders in respect of the Purchase Contracts; provided, however, that, except as contemplated herein, no such supplemental agreement shall, without the consent of each Holder of an Outstanding Purchase Contract
affected thereby, 

  
 54 

 (i)         reduce the number of
shares of Common Stock deliverable upon settlement of the Purchase Contracts; 

(ii)        change the Mandatory Settlement Date, the right to settle Purchase
Contracts early or the Fundamental Change Early Settlement Right, or otherwise adversely affect the Holder’s rights to receive delivery of the number of shares of Common Stock, cash in lieu of any fractional share and/or other property as
described herein due upon settlement of any Purchase Contract on the due dates therefor; 

(iii)       reduce the above-stated percentage of Outstanding Purchase Contracts the
consent of the Holders of which is required for the modification or amendment of the provisions of the Purchase Contracts or this Agreement; or 

(iv)       impair the right to institute suit for the enforcement of the Purchase
Contracts. 
 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any
proposed supplemental agreement, but it shall be sufficient if such Act shall approve the substance thereof. 
 SECTION
8.03. Execution of Supplemental Agreements.   In executing, or accepting the additional agencies created by, any supplemental agreement permitted by this Article or the modifications thereby of the agencies created by this
Agreement, the Purchase Contract Agent and the Trustee shall be provided, and shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental agreement is authorized
or permitted by this Agreement and that any and all conditions precedent to the execution and delivery of such supplemental agreement have been satisfied. The Purchase Contract Agent may, but shall not be obligated to, enter into any such
supplemental agreement that affects the Purchase Contract Agent’s own rights, duties or immunities under this Agreement or otherwise and shall have the right to indemnity as provided in Article 7 of this Agreement. 

SECTION 8.04. Effect of Supplemental Agreements.      Upon the execution of any
supplemental agreement under this Article, this Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes; and every Holder of Securities theretofore or thereafter
authenticated, executed on behalf of the Holders and delivered hereunder, shall be bound thereby. 
 SECTION 8.05.
Reference to Supplemental Agreements.      Securities authenticated, executed on behalf of the Holders and delivered after the execution of any supplemental agreement pursuant to this Article may, and shall if
required by the Purchase Contract Agent, bear a notation in form approved by the Purchase Contract Agent as to any matter provided for in such supplemental agreement. If the Company shall so determine, new Securities so modified as to conform, in
the opinion of the Purchase Contract Agent, the Trustee and the Company, to any such supplemental agreement may be prepared and executed by the Company and authenticated, executed on behalf of the Holders and delivered by the Purchase Contract Agent
in exchange for outstanding Securities (by the Purchase Contract Agent and the Trustee, as applicable). 

  
 55 

 SECTION 8.06. Notice of Amendment.   After any supplemental
agreement under this Article becomes effective, the Company shall mail to the Holders a notice briefly describing such supplemental agreements; provided, however, that the failure to give such notice to all Holders, or any defect therein, shall not
impair or affect the validity of any supplemental agreement under this Article 8. 
 ARTICLE IX 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

SECTION 9.01. Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property Except Under Certain
Conditions.  The Company covenants that it will not merge with and into or consolidate with or into any other Person or sell, assign, transfer, lease or convey all or substantially all of its properties and assets to any Person,
unless: 
 (i)         the Company is the surviving entity or the successor
entity, if other than the Company, is a corporation organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and that successor entity expressly assumes all of the Company’s
obligations under the Units, the Purchase Contracts and this Agreement by an agreement supplemental hereto, executed and delivered to the Purchase Contract Agent and the Trustee; 

(ii)        immediately after the merger, consolidation, sale, assignment, transfer,
lease or conveyance, no default under the Units, the Purchase Contracts or this Agreement shall have occurred and be continuing; and 

(iii)       the Company has delivered to the Purchase Contract Agent an Officers’
Certificate and an Opinion of Counsel, each stating that such merger, consolidation, sale, assignment, transfer, lease or conveyance and such supplemental agreement comply with this Article 9 and that all conditions precedent herein provided for
related to such transaction have been complied with. 
 SECTION 9.02. Rights and Duties of Successor
Entity.  In case of any such merger, consolidation, sale, assignment, transfer or conveyance (but not any such lease) and upon any such assumption by a successor entity in accordance with Section 9.01, such successor entity shall
succeed to and be substituted for the Company with the same effect as if it had been named herein as the Company and, upon satisfaction of all conditions precedent to such assumption hereunder, the Company will be relieved of any further obligation
under this Agreement and the Purchase Contracts. Such successor entity thereupon may cause to be signed, and may issue either in its own name or in the name of Banc of California, Inc., any or all of the Securities evidencing Units or Purchase
Contracts issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Purchase Contract Agent; and, upon the order of such successor entity, instead of the Company, and subject to all the terms, conditions and
limitations in this Agreement prescribed, the Purchase Contract Agent shall authenticate and execute on behalf of the Holders and deliver any such Securities that previously shall have been signed and delivered by the officers of the Company to the
Purchase Contract Agent for authentication and execution, and any such Security evidencing Units or Purchase Contracts that such successor entity thereafter shall cause to be signed and delivered to the Purchase Contract Agent for that purpose. All
the Securities issued shall in all respects have the same legal rank and benefit under this Agreement as the 

  
 56 

 
Securities theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Securities had been issued at the date of the execution hereof. 

In the event of any such merger, consolidation, sale, assignment, transfer, lease or conveyance, such change in phraseology
and form (but not in substance) may be made in the Equity-Linked Securities thereafter to be issued as may be appropriate. 
 ARTICLE X

 COVENANTS OF THE COMPANY 

SECTION 10.01. Performance Under Purchase Contracts.   The Company covenants and agrees for the benefit
of the Holders from time to time of the Purchase Contracts that it will duly and punctually perform its obligations under the Purchase Contracts in accordance with the terms of the Purchase Contracts and this Agreement. 

SECTION 10.02. Maintenance of Office or Agency.  The Company will maintain an office or agency where
Securities may be presented or surrendered for acquisition of shares of Common Stock upon settlement of the Purchase Contracts on the Mandatory Settlement Date, any Early Settlement Date or any Early Mandatory Settlement Date and where notices and
demands to or upon the Company in respect of the Purchase Contracts and this Agreement may be served. The Company will give prompt written notice to the Purchase Contract Agent 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 Purchase Contract Agent with the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office, and the Company hereby appoints the Purchase Contract Agent as its agent to receive all such presentations, surrenders, notices and demands. 

The Company hereby designates as the place of payment for the Purchase Contracts the Corporate Trust Office and appoints the
Purchase Contract Agent at its Corporate Trust Office as paying agent (the “Paying Agent”) in such city. 

SECTION 10.03. Statements of Officers of the Company as to Default; Notice of Default. 

(a)        The Company will deliver to the Purchase Contract Agent, within 120 days
after the end of each fiscal year of the Company (which fiscal year end as of the date hereof is December 31) ending after the date hereof, an Officers’ Certificate (one of the signers of which shall be the principal executive officer,
principal financial officer or principal accounting officer of the Company), stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions
hereof, and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which they may have knowledge. 

(b)        The Company shall deliver to the Purchase Contract Agent, as soon as
possible but, in any event, within five days after the Company becomes aware of the occurrence thereof, notice of any default in the performance and observance of any of the terms, provisions and conditions hereof and the status thereof. 

  
 57 

 SECTION 10.04. Existence.  Except as otherwise permitted
under Article 9, the Company will do or cause to be done all things necessary to maintain in full force its legal existence, rights (charter and statutory) and franchises, except that the Company is not required to preserve any right or franchise if
the Company determines that it is no longer desirable in the conduct of its business. 
 SECTION 10.05. Company to
Reserve Common Stock.   The Company shall at all times that the Purchase Contracts remain outstanding prior to the Mandatory Settlement Date reserve and keep available, free from preemptive rights or other encumbrances, out of its
authorized but unissued Common Stock, solely for issuance upon settlement of the Purchase Contracts, that number of shares of Common Stock as shall from time to time be issuable upon the settlement of all Outstanding Purchase Contracts (whether or
not included in a Unit), assuming settlement at the Maximum Settlement Rate. 
 SECTION 10.06. Covenants as to
Common Stock; Listing. 
 The Company covenants that all shares of Common Stock that may be issued upon settlement of
any Purchase Contract represented by the Outstanding Securities will, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, free from all taxes, liens and charges and not subject to any preemptive rights. Prior to the
settlement of any Purchase Contract, the shares of common stock underlying each Purchase Contract will not be outstanding, and the Holder of such purchase contract will not have any voting rights, rights to dividends or other distributions or other
rights of a holder of Common Stock by virtue of holding such Purchase Contract. 
 SECTION 10.07. Tax
Treatment.   The Company agrees, and by purchasing a Unit or a beneficial ownership interest in a Unit, each Holder and each beneficial owner of a beneficial ownership interest in a Unit agrees, for United States federal, state
and local tax purposes, to treat (1) a Unit as an investment unit composed of two separate instruments, in accordance with its form and (2) the Notes as indebtedness. 

[Signature Pages Follow] 

  
 58 

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

					
	BANC OF CALIFORNIA, INC.
		
	By:	 	 /s/ Steven A. Sugarman

		 	Name:	 	Steven A. Sugarman
		 	Title:	 	 President and Chief Executive

Officer

	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Purchase Contract Agent

		
	By:	 	 /s/ K. Wendy Kumar

		 	Name:	 	K. Wendy Kumar
		 	Title:	 	Vice President
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee under the Indenture

		
	By:	 	 /s/ K. Wendy Kumar

		 	Name:	 	K. Wendy Kumar
		 	Title:	 	Vice President

  
 [Signature Page to
Purchase Contract Agreement] 

 EXHIBIT A 

[FORM OF FACE OF UNIT] 
 [INCLUDE
IF A GLOBAL UNIT] 
 [THIS UNIT IS A GLOBAL UNIT WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED
TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS UNIT IS EXCHANGEABLE FOR UNITS
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS UNIT (OTHER THAN A TRANSFER OF THIS UNIT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

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

  
 A-1 

 BANC OF CALIFORNIA, INC. 

8.00% Tangible Equity Unit 
 CUSIP
No. 05990K700 
  

			
	No.	  	             

	[Initial]1 Number of Units         	  	

 This Unit certifies that [CEDE &
CO.]2 [                           ] (the
“Holder”), or registered assigns, is the registered owner of [the number of Units set forth above] [the number of Units shown on Schedule A hereto, which number may from time to time be reduced or increased, as appropriate in
accordance with the terms of the Purchase Contract Agreement (as defined below), but which shall not exceed
                         Units]3. 

Each Unit consists of (i) a Purchase Contract (attached hereto as Attachment 3) and (ii) a Note (attached hereto as
Attachment 4), in each case issued by the Company. Each Unit evidenced hereby is governed by the Purchase Contract Agreement, dated as of May 21, 2014 (as may be supplemented from time to time, the “Purchase Contract
Agreement”), among the Company, U.S. Bank National Association, as Purchase Contract Agent (including its successors hereunder, the “Purchase Contract Agent”), and U.S. Bank National Association, as Trustee (including its
successors hereunder, the “Trustee”) under the Indenture. 
 Reference is hereby made to the Purchase
Contract Agreement and the Indenture and, in each case supplemental agreements thereto, for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the Company, and
the Holders and of the terms upon which the Units are, and are to be, executed and delivered. 
 Upon the conditions and
under the circumstances set forth in the Purchase Contract Agreement, Holders of Units shall have the right to separate a Unit into its component parts, and a Holder of a Separate Purchase Contract and Separate Note shall have the right to re-create
a Unit. 
 The Company agrees, and by purchasing a Unit each Holder agrees, for United States tax purposes, to treat
(1) a Unit as an investment unit composed of two separate instruments, in accordance with its form and (2) the Notes as indebtedness. 

The Units, and any claim, controversy or dispute arising under or related to the Units, shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 Capitalized terms used herein and not defined have the meanings given
to such terms in the Purchase Contract Agreement. 
  
  

 

	1 	Include if a Global Unit. 

	2 	Include if a Global Unit. 

	3 	Include if a Global Unit. 

  
 A-2 

 In the case of any conflict between this Unit and the Purchase Contract
Agreement, the provisions of the Purchase Contract Agreement shall control. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-3 

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

  
  

									
		 		 		 	BANC OF CALIFORNIA, INC.
					
		 		 		 	By:	 	 
		 		 		 		 	Name:
		 		 		 		 	Title:
					
		 		 		 	By:	 	 
		 		 		 		 	Name:
		 		 		 		 	Title:
					
	Dated:	 	 	 		 		 	

  
 A-4 

 UNIT CERTIFICATE OF AUTHENTICATION 

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE 

This is one of the Units referred to in the within-mentioned Purchase Contract Agreement. 

 

									
		 		 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as
Purchase Contract Agent

					
		 		 		 	By:	 	 
		 		 		 		 	Authorized Signatory
				
		 		 		 	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee under the Indenture

					
		 		 		 	By:	 	 
		 		 		 		 	Authorized Signatory
					
	Dated:	 	 	 		 		 	

  
 A-5 

 SCHEDULE A 

[INCLUDE IF A GLOBAL UNIT] 

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL UNIT 

The initial number of Units evidenced by this Global Unit is
                  . The following increases or decreases in this Global Unit have been made: 

 

									
	                Date          
      	 	    Amount of increase in        
    number of Units 
       
    evidenced by the        
    Global Unit        	 	    Amount of decrease in        
number of Units     
   
    evidenced by the        
    Global Unit        	 	    Number of Units        
    evidenced by the   
     
    Global Unit following        
    such decrease or
        
    increase        	 	    Signature of
        
authorized signatory of    
Purchase
Contract    
        Agent            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  
 A-6 

 ATTACHMENT 1 

[FORM OF SEPARATION NOTICE] 
 U.S. Bank National
Association 
 Corporate Trust Services 
 100 Wall Street, Suite
1600 
 New York, New York 10005 
 Attention: Account Manager
– Banc of California 
  

	Re:	 Separation of [Global]4 Units 

The undersigned [Beneficial Owner]4 hereby notifies you that it wishes to
                     separate              Units [as to which it holds a
Book-Entry Interest]4 into the applicable number of Notes and the applicable number of Purchase Contracts in accordance with the Purchase Contract Agreement (the “Purchase Contract
Agreement”) dated as of May 21, 2014 among the Company, U.S. Bank National Association, as Purchase Contract Agent, and U.S. Bank National Association, as Trustee under the Indenture. Terms used and not defined herein have the meaning
assigned to such terms in the Purchase Contract Agreement. 
 The undersigned [includes herewith]5 [Beneficial Owner has instructed the undersigned Depository Participant to transfer to you its Book-Entry Interests in] the number of Units specified in the immediately succeeding paragraph. The
undersigned [includes herewith]5 [Beneficial Owner has furnished the undersigned Depository Participant with]4 the appropriate endorsements and
documents and paid all applicable transfer or similar taxes, if any, to the extent required by the Purchase Contract Agreement. 

Please [deliver to the undersigned’s address specified below]5
[transfer to the account of the undersigned Beneficial Owner with the undersigned Depositary Participant the beneficial interests in]4 (i) the number of Separate Notes and (ii) number of
Separate Purchase Contracts represented by the number of Units specified above. 
  

 
  

	4 	Include if a Global Unit. 

	5 	Exclude if a Global Unit. 

  
 A-7 

 IN WITNESS WHEREOF, the [undersigned has caused this instrument to be duly
executed]5 [Depository Participant has caused this instrument to be duly executed on behalf of itself and the undersigned Beneficial Owner]4.

 Dated:
                                         
        
  

					
	[NAME OF BENEFICIAL OWNER]	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	
		 	Address:	 	

  
 [NAME OF DEPOSITORY PARTICIPANT]4 
  
  

			
	By:	 	  

		 	Name:
		 	Address:
	
	Attest:
		
	By:	 	  

  
 A-8 

 ATTACHMENT 2 

[FORM OF RECREATION NOTICE] 
 U.S. Bank National
Association 
 Corporate Trust Services 
 100 Wall Street, Suite
1600 
 New York, New York 10005 
 Attention: Account Manager
– Banc of California 
 Re:    Recreation of [Global]6 Units

 The undersigned [Beneficial Owner]6 hereby notifies you that it
wishes to recreate                    Units [as to which it holds a Book-Entry Interest]6 from the
applicable number of Separate Notes and the applicable number of Separate Purchase Contracts in accordance with the Purchase Contract Agreement (the “Purchase Contract Agreement”) dated as of May 21, 2014 among the Company,
U.S. Bank National Association, as Purchase Contract Agent, and U.S. Bank National Association, as Trustee under the Indenture. Terms used and not defined herein have the meaning assigned to such terms in the Purchase Contract Agreement. 

The undersigned [includes herewith]7 [Beneficial Owner has instructed the
undersigned Depository Participant to transfer to you its Book-Entry Interests in]6 the applicable number of Separate Notes and the applicable number of Separate Purchase Contracts sufficient for
the recreation of the number of Units specified above. The undersigned [includes herewith]7 [Beneficial Owner has furnished the undersigned Depository Participant with]6 the appropriate endorsements and documents and paid all applicable transfer or similar taxes, if any, to the extent required by the Purchase Contract Agreement. 

Please [deliver to the undersigned’s address specified below]7
[transfer to the account of the undersigned Beneficial Owner with the undersigned Depositary Participant the beneficial interests in]6 the number of Units specified above. 

 
  

 

	6	Include if a Global Unit. 

	7 	Exclude if a Global Unit. 

  
 A-9 

 IN WITNESS WHEREOF, the [undersigned has caused this instrument to be duly
executed]7 [Depository Participant has caused this instrument to be duly executed on behalf of itself and the undersigned Beneficial Owner]6.

 Dated:
                                         
        
  

					
	[NAME OF BENEFICIAL OWNER]	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	
		 	Address:	 	

  
  

			
	[NAME OF DEPOSITORY PARTICIPANT]6
		
	By:	 	  

		 	Name:
		 	Address:
	
	Attest:
		
	By:	 	  

  
 A-10 

 ATTACHMENT 3 

[INCLUDE IF A GLOBAL UNIT] 

[THIS SECURITY IS A GLOBAL PURCHASE CONTRACT WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL PURCHASE CONTRACT IS
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS
SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS GLOBAL PURCHASE CONTRACT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY HAS AN INTEREST HEREIN.] 

  
 A-11 

 BANC OF CALIFORNIA, INC. 

PURCHASE CONTRACTS 
  

			
	No. [0002]	 	Initial Number of Purchase Contracts:             

 This Purchase Contract certifies that CEDE & CO. (the “Holder”), or registered
assigns, is the registered owner of the number of Purchase Contracts the number of Purchase Contracts shown on Schedule A hereto, which number may from time to time be reduced or increased, as appropriate in accordance with the terms of the Purchase
Contract Agreement (as defined below), but which shall not exceed [                         ] Purchase Contracts. 

All capitalized terms used herein that are defined in the Purchase Contract Agreement (as defined on the reverse hereof) have
the meaning set forth therein. 
 Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of
this Purchase Contract on the Mandatory Settlement Date a number shares of common stock, $0.01 par value (“Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory
Settlement Date, in which event the provisions of Section 5.03, Section 5.04 or Section 5.05 of the Purchase Contract Agreement shall apply, all as provided in the Purchase Contract Agreement and more fully described on the reverse
hereof. 
 Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 

  
 A-12 

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

  

			
	BANC OF CALIFORNIA, INC.
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

 Dated:
                                         
    

  
 A-13 

 PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION 

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE 

This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract Agreement. 

 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Purchase Contract Agent

		
	By:	 	 
		 	Authorized Signatory
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee under the Indenture

		
	By:	 	 
		 	Authorized Signatory

 Dated:
                                         
            

  
 A-14 

 [FORM OF REVERSE OF PURCHASE CONTRACT] 

Each Purchase Contract evidenced hereby is governed by the Purchase Contract Agreement, dated as of May 21, 2014 (as may
be supplemented from time to time, the “Purchase Contract Agreement”), among the Company, U.S. Bank National Association, as Purchase Contract Agent (including its successors hereunder, the “Purchase Contract
Agent”) and U.S. Bank National Association, as Trustee under the Indenture. Reference is hereby made to the Purchase Contract Agreement and supplemental agreements thereto for a description of the respective rights, limitations of rights,
obligations, duties and immunities thereunder of the Purchase Contract Agent, the Company and the Holders and of the terms upon which the Purchase Contracts are, and are to be, executed and delivered. 

Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract, on the
Mandatory Settlement Date, a number of shares of Common Stock equal to the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory Settlement Date, in either case, pursuant to the terms of the Purchase Contract Agreement. 

No fractional shares of Common Stock will be issued upon settlement of Purchase Contracts, as provided in Section 4.04 of
the Purchase Contract Agreement. 
 The Purchase Contracts are issuable only in registered form and only in denominations of
a single Purchase Contract and any integral multiple thereof. The transfer of any Purchase Contract will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract Agreement. 

The Holder of this Purchase Contract, by its acceptance hereof, authorizes the Purchase Contract Agent to enter into and
perform the Purchase Contract Agreement on its behalf as its attorney-in-fact and agrees to be bound by the terms and provisions thereof. 

Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions of the Purchase Contract Agreement
may be amended with the consent of the Holders of a majority of the Purchase Contracts. 
 The Purchase Contracts, and any
claim, controversy or dispute arising under or related to the Purchase Contracts, shall be governed by, and construed in accordance with, the laws of the State of New York. 

The Company, the Purchase Contract Agent and its Affiliates and any agent of the Company or the Purchase Contract Agent may
treat the Person in whose name this Purchase Contract is registered as the absolute owner of the Purchase Contracts evidenced hereby for the purpose of performance of the Purchase Contracts and for all other purposes whatsoever, whether or not any
payments in respect thereof be overdue and notwithstanding any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice to the contrary. 

  
 A-15 

 The Purchase Contracts shall not, prior to the settlement thereof, entitle the
Holder to any of the rights of a holder of the Common Stock or other Reference Property. 
 Each Purchase Contract (whether
or not included in a Unit) is a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York on the date hereof. 

In the case of any conflict between this Purchase Contract and the Purchase Contract Agreement, the provisions of the Purchase
Contract Agreement shall control. 
 A copy of the Purchase Contract Agreement is available for inspection at the offices of
the Purchase Contract Agent. 

  
 A-16 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations: 
 TEN COM: as tenants in common 

 

									
	UNIF GIFT MIN ACT:	 	  
	 		 	Custodian	 	  

		 	        (cust)	 		 		 	        (minor)

  

			
	Under Uniform Gifts to Minors Act of	 	  

 TENANT: as tenants by the entireties 

JT TEN: as joint tenants with right of survivorship and not as tenants in common 

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

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto (Please insert Social Security or Taxpayer
I.D. or other Identifying Number of Assignee) (Please Print or Type Name and Address Including Postal Zip Code of Assignee) the within Purchase Contracts and all rights thereunder, hereby irrevocably constituting and appointing attorney
                                         
               , to transfer said Purchase Contracts on the books of Banc of California, Inc. with full power of substitution in the premises. 

Dated:
                                        

  

			
		 	  

		 	Signature

 NOTICE: The signature to this assignment must correspond with the name as it appears upon the
face of the within Purchase Contracts in every particular, without alteration or enlargement or any change whatsoever. 
  

					
	Signature Guarantee:	 	  
	  	

  
 A-17 

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Common Stock or other securities deliverable upon settlement
on or after the Mandatory Settlement Date of the number of Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered, together with a check in payment for any fractional share, to the undersigned at the
address indicated below unless a different name and address have been indicated below. The undersigned will pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other securities to any Person other than the
undersigned. 
  

					
	 Dated:
                                
	 	  

		 	Signature	 	
			
		 	Signature Guarantee:	 	  

		
		 	(if assigned to another Person)

 If shares are to be registered in the name of and delivered to a Person 

other than the Holder, please (i) print such Person’s name and address 

and (ii) provide a guarantee of your signature: 
  

 

					
	  
	  	  
	  	
	                Name	  	                Name	  	
			
	  
	  	  
	  	
	                 Address

 
	  	                 Address

 
	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	
			
	  
	  	  
	  	

  
 Social Security or
other Taxpayer Identification Number, if any
                                         
                            

  
 A-18 

 ELECTION TO SETTLE EARLY 

The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to effect Early Settlement in
accordance with the terms of the Purchase Contract with respect to the Purchase Contracts evidenced by this Purchase Contract specified below. The undersigned Holder directs that a certificate for shares of Common Stock or other securities
deliverable upon such Early Settlement be registered in the name of, and delivered, together with a check in payment for any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby as to which Early Settlement
is not effected, to the undersigned at the address indicated below unless a different name and address have been indicated below. The undersigned will pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned. 
  

							
	Dated:	 	  
	 		 	  

		 		 		 	Signature
				
		 		 	Signature Guarantee:	 	  

  
 A-19 

 Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected: 

 

			
	If shares of Common Stock or Purchase Contracts are to be registered in the name of and delivered to a Person other than the Holder, please print such Person’s name and address:	  	REGISTERED HOLDER
		  	 Please print name and address of Registered Holder:

	  
	  	  

		
	                        Name	  	                Name
		
	  
	  	  

		
	                        Address	  	                Address
		
	  
	  	  

		
	  
	  	  

		
	  
	  	  

 Social Security or other Taxpayer Identification Number, if any
                                         
                              

  
 A-20 

 SCHEDULE A 

SCHEDULE OF INCREASES OR DECREASES IN THE PURCHASE CONTRACTS 

The initial number of Purchase Contracts evidenced by this certificate is
                          . The following increases or decreases in this certificate have been made: 

 

									
	 Date
	  	 Amount of increase in
number of
Purchase
Contracts evidenced
by this Certificate
	  	 Amount of decrease in
number of
Purchase
Contracts evidenced
by this Certificate
	  	 Number of Purchase
Contracts
evidenced
by this Certificate
following such
decrease or increase
	  	
Signature of
authorized signatory of
Purchase Contract
Agent

	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	 	  	 

  
 A-21 

 ATTACHMENT 4 

[FORM OF FACE OF NOTE] 
 [INCLUDE
IF A GLOBAL NOTE] 
 [THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS GLOBAL NOTE IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

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

  
 A-22 

 BANC OF CALIFORNIA, INC. 

7.50% JUNIOR SUBORDINATED AMORTIZING NOTES 

DUE MAY 15, 2017 
 REGISTERED

 CUSIP: 05990K AB2 

ISIN: US05990KAB26 
  

			
	No.             	  	[Initial]8 Number of Notes                   

 BANC OF CALIFORNIA, INC., a Maryland corporation (the “Company,” which term
includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the initial principal sum of $10.604556 for each of the number of Notes set
forth above[, or such other number of Notes as set forth in the Schedule of Increases or Decreases in Global Note attached hereto, which shall not exceed [  ]]9 in quarterly
installment payments (each constituting a payment of interest at the rate per year of 7.50% and a partial repayment of principal) payable on May 15, August 15, November 15 and February 15 of each year (each such date,
an “Installment Payment Date” and the period from, and including, May 21, 2014 to, but excluding, the first Installment Payment Date and each subsequent full quarterly period from and including an Installment Payment Date to,
but excluding, the immediately succeeding Installment Payment Date, an “Installment Payment Period”), commencing on August 15, 2014, all as set forth on the reverse hereof, with the final installment payment due and payable on
May 15, 2017, subject to the Company’s right to defer such payments in accordance with the terms of the Indenture. The installment payments payable on any Installment Payment Date shall be computed on the basis of a 360-day year consisting
of twelve 30-day months. If an installment payment is payable for any period shorter than a full Installment Payment Period, such installment payment shall be computed on the basis of the actual number of days elapsed per 30-day month. In the event
that any date on which an installment payment is payable is not a Business Day, then the installment payment on such date will be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any
such delay. However, if such Business Day is in the next succeeding calendar year, then such installment payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.
Installment payments shall be paid to the person in whose name the Note is registered at the close of business on the Business Day immediately preceding the related Installment Payment Date (each, a “Regular Record Date”) in
accordance with the terms of the Indenture. If the Notes do not remain in the form of Global Notes, the Company shall have the right to select Regular Record Dates, which will be more than 14 days but less than 60 days prior to the relevant
Installment Payment Date. 
 Installments shall be payable at the office or agency of the Company maintained for that
purpose in accordance with the provisions of the Indenture. 
  

 
  

	8 	Include if a Global Note. 

	9 	Include if a Global Note. 

  
 A-23 

 This Note shall not be entitled to any benefit under the Indenture hereinafter
referred to or be valid or obligatory for any purpose until the Certificate of Authentication shall have been signed by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have
the same effect as though fully set forth at this place. 

  
 A-24 

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

  
  

			
	 BANC OF CALIFORNIA, INC.,

	 as Issuer

		
	 By:
	 	 
		 	 Name:

		 	 Title:

		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 A-25 

 CERTIFICATE OF AUTHENTICATION 

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

 
  

							
	 	 	 	 	U.S. BANK NATIONAL ASSOCIATION,
				
	as Trustee	 		 		 	
				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  
 A-26 

 [FORM OF REVERSE OF NOTE] 

BANC OF CALIFORNIA, INC. 

This Note is one of a duly authorized series of Securities of the Company designated as its “7.50% Junior Subordinated
Amortizing Notes due 2017” (herein referred to as the “Notes”), issued under the Indenture, dated as of May 21, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee,”
which term includes any successor trustee under the Indenture) (the “Base Indenture,” and the Base Indenture, as supplemented by the First Supplemental Indenture, dated as of May 21, 2014, (the “Supplemental
Indenture”), between the Company and the Trustee, the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Company and the Holders. The terms of other series of Securities issued under the Indenture may vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the
Indenture. This series of Securities is limited in aggregate principal amount as and to the extent specified in said First Supplemental Indenture. 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 Each installment shall constitute a payment of interest (at a rate of 7.50% per annum) and a partial
repayment of principal on the Note, allocated as set forth in the schedule below: 
  

					
	Scheduled Installment Payment Date	  	        Amount of      
 
       Principal        	  	  Amount of Interest  
	 August 15, 2014
	  	$0.747754	  	$0.185579  
	 November 15, 2014
	  	$0.815185	  	$0.184815  
	 February 15, 2015
	  	$0.830470	  	$0.169530  
	 May 15, 2015
	  	$0.846041	  	$0.153959  
	 August 15, 2015
	  	$0.861904	  	$0.138096  
	 November 15, 2015
	  	$0.878065	  	$0.121935  
	 February 15, 2016
	  	$0.894529	  	$0.105471  
	 May 15, 2016
	  	$0.911301	  	$0.088699  
	 August 15, 2016
	  	$0.928388	  	$0.071612  
	 November 15, 2016
	  	$0.945795	  	$0.054205  
	 February 15, 2017
	  	$0.963529	  	$0.036471  
	 May 15, 2017
	  	$0.981595	  	$0.018405  

 Installment payments may be deferred by the Company in accordance with the provisions of
Section 2.03(c) of the Supplemental Indenture. 
 This Note will not be subject to redemption at the option of the
Company. However, a Holder shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note, and on the Repurchase Date, upon the occurrence of certain events and subject to the conditions
set forth in the Indenture. 

  
 A-27 

 This Note is not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance and covenant defeasance at any time of the indebtedness on this Note upon
compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of
Default relating to specified events of bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of the Company occurs and is continuing, then and in each such case either the Trustee or the Holders of not
less than 25% in aggregate initial principal amount of the Notes then outstanding, by notice in writing to the Company (and to the Trustee if given by Holders), may declare the principal amount of all the Notes to be due and payable immediately, and
upon any such declaration the same shall become immediately due and payable. This provision, however, is subject to the condition that, at any time after such a declaration of acceleration, and before any judgment or decree for the payment of the
money due shall have been obtained or entered, the Holders of a majority in aggregate principal amount of the Notes then outstanding, by written notice to the Company and to the Trustee, may waive all defaults and rescind and annul such declaration
and its consequences, if certain conditions are met as set forth in the Indenture. 
 There is no right of acceleration upon
the occurrence of an Event of Default described in Section 5.01(a) of the Supplemental Indenture or as described in Section 501(4) of the Base Indenture. 

In the case of the additional Event of Default described in Section 5.01(a) of the Supplemental Indenture, then, upon
demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount that then shall have become due and payable on all such Notes for principal, premium, if any, or interest, or any combination
thereof, as the case may be, with interest upon the overdue principal and (to the extent that payment of such interest is enforceable under applicable law) upon the overdue installments of interest, at the rate borne by the Notes; and, in addition,
such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation, expenses, disbursements and advances of the Trustee, its agents, attorneys and counsel. If the Company does not pay such
amounts upon such demand, the Trustee shall be entitled and empowered to institute any actions or proceeding at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final
decree, and may enforce any such judgment or final decree against the Company or any other obligor on the Notes and collect in the manner provided by law out of the property of the Company or any other obligor on the Notes, wherever situated, the
money adjudged or decreed to be payable. 
 The Indenture permits, with certain exceptions as therein provided, the Company
and the Trustee, with the consent of the Holders of not less than a majority in principal amount of the Securities at the time outstanding of each series issued under the Indenture to be affected thereby, to execute supplemental indentures for
certain purposes as described therein. 

  
 A-28 

 No provision of this Note or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay installments on this Note at the time, place and rate, and in the coin or currency, herein and in the Indenture prescribed, subject to the Company’s right to defer
installment payments as described therein. 
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Note shall be registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in New York, New York, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 

The Notes are initially issued in the form of Global Notes in initial minimum denominations of one Note and integral multiples
in excess thereof. 
 No charge shall be made for any such registration of transfer or exchange, but the Company may require
the payment of a sum sufficient to cover any applicable tax or other governmental charge payable in connection with the transfer. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Holder in whose name any Note
shall be registered upon the Security Register for the Notes as the absolute owner of such Note (whether or not such Note shall be overdue and notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving
installment payments on such Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to the contrary. 

 
  

THIS NOTE AND THE INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF
THE COMPANY AND THE TRUSTEE, AND EACH HOLDER OF A SECURITY BY ITS ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 All
terms used in this Note which are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

No recourse under or upon any obligation, covenant or agreement contained in the Indenture, or this Note, or because of any
indebtedness evidenced thereby, shall be had against any 

  
 A-29 

 
incorporator, as such or against any past, present or future stockholder, Officer, director or employee, as such, of the Company or of any successor, either directly or through the Company or any
successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of this Note
by the Holders hereof and as part of the consideration for the issue of this Note. 
 The Company and each Holder agrees,
and by acceptance of a beneficial ownership interest in the Notes, each beneficial owner of a beneficial ownership interest in the Notes will be deemed to have agreed, for U.S. federal, state and local tax purposes, to treat the Notes as
indebtedness. 
 In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall
control. 

  
 A-30 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 

 
  

 
 (Insert assignee’s
social security or tax identification number) 
  
  

 
 (Insert address and zip code
of assignee) 
 and irrevocably appoints agent to transfer this Note on the books of the Company. The agent may substitute another to act
for him or her. 
 Date:
                                         
                        

Signature:
                                         
                
 Signature Guarantee: 

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

  
 A-31 

 SIGNATURE GUARANTEE 

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

			
	 By:
	 	  

		 	 Name:

		 	 Title:

 
									
			
	  
	 	,	 	
	 as Trustee
	 		 		 	
					
	 By:
	 	  
	 		 		 	
		 	 Name:
	 		 		 	
		 	 Title:
	 		 		 	

			
	
	 Attest:

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-32 

 FORM OF REPURCHASE NOTICE 

TO: Banc of California, Inc. and U.S. Bank National Association, as Trustee 

The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from Banc of California, Inc. (the
“Company”) regarding the right of Holders to elect to require the Company to repurchase the Notes and requests and instructs the Company to repay the entire principal amount of the number of Notes below designated, in accordance with the
terms of the Indenture and the Notes, together with accrued and unpaid interest to, but excluding, the Repurchase Date to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in
the Indenture, dated as of May 21, 2014, between the Company and U.S. Bank National Association, as trustee (the “Trustee”) as supplemented by the First Supplemental Indenture, dated as of May 21, 2014, between the Company and
the Trustee (such senior indenture, as so supplemented, the “Indenture”). 
 The Notes shall be repurchased by the
Company as of the Repurchase Date pursuant to the terms and conditions specified in the Notes and the Indenture. 
  

											
	Dated:	 	  
	 		 		 		 	
						
		 		 		 		 		 	  

		 		 		 		 		 	Signature:
						
		 		 		 		 		 	  

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon
the face of the Notes in every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable): 

Number of Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof): 

Social Security or Other Taxpayer Identification Number: 

  
 A-33 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN A GLOBAL NOTE 

The initial number of Notes evidenced by this Global Note is           
                          . The following increases or decreases in this Global Note have been made: 

 

									
	                Date          
      	 	    Amount of decrease        
    in number of
Notes        
    evidenced by this        
    Global Note        	 	    Amount of increase in        
    number of Notes 
       
    evidenced by this        
    Global Note        	 	Number of Notes    
evidenced by this    
Global Note following    
such
decrease (or    
            increase)                	 	Signature
of    
authorized signatory of    
                Trustee       
             
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  
 A-34 

 EXHIBIT B 

[FORM OF FACE OF PURCHASE CONTRACT] 

[INCLUDE IF A GLOBAL PURCHASE CONTRACT] 

[THIS PURCHASE CONTRACT IS A GLOBAL PURCHASE CONTRACT WITHIN THE MEANING OF THE PURCHASE CONTRACT AGREEMENT HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS PURCHASE CONTRACT IS
EXCHANGEABLE FOR A PURCHASE CONTRACT REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AGREEMENT AND NO TRANSFER OF THIS PURCHASE CONTRACT (OTHER THAN A
TRANSFER OF THIS PURCHASE CONTRACT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

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

  
 B-1 

 BANC OF CALIFORNIA, INC. 

PURCHASE CONTRACTS 
 CUSIP No. 05990K130

  

			
	 No.            
	  	[Initial]10 Number of Purchase Contracts:
                  

 This Purchase Contract certifies that [CEDE & CO.]11 [                             ] (the
“Holder”), or registered assigns, is the registered owner of [the number of Purchase Contracts set forth above] [the number of Purchase Contracts shown on Schedule A hereto, which number may from time to time be reduced or
increased, as appropriate in accordance with the terms of the Purchase Contract Agreement (as defined below), but which shall not exceed
                                        
[                    ] Purchase Contracts].12 

Each Purchase Contract consists of the rights of the Holder under such Purchase Contract with the Company. All capitalized
terms used herein that are defined in the Purchase Contract Agreement (as defined on the reverse hereof) have the meaning set forth therein. 

Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract on the
Mandatory Settlement Date a number shares of common stock, $0.01 par value (“Common Stock”), of the Company equal to the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory Settlement Date, in which event
the provisions of Section 5.03, Section 5.04 or Section 5.05 of the Purchase Contract Agreement shall apply, all as provided in the Purchase Contract Agreement and more fully described on the reverse hereof. 

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

 
  

	10 	Include if a Global Purchase Contract. 

	11 	Include if a Global Purchase Contract. 

	12 	Include if a Global Purchase Contract. 

  
 B-2 

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

  

			
	BANC OF CALIFORNIA, INC.
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Dated:	 	  

  
 B-3 

 PURCHASE CONTRACT CERTIFICATE OF AUTHENTICATION 

OF PURCHASE CONTRACT AGENT AND TRUSTEE UNDER THE INDENTURE 

This is one of the Purchase Contracts referred to in the within-mentioned Purchase Contract Agreement. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Purchase Contract Agent

		
	By:	 	 
		 	Authorized Signatory
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee under the Indenture

		
	By:	 	 
		 	Authorized Signatory

  

			
	Dated:	 	  

  
 B-4 

 [FORM OF REVERSE OF PURCHASE CONTRACT] 

Each Purchase Contract evidenced hereby is governed by the Purchase Contract Agreement, dated as of May 21, 2014 (as may
be supplemented from time to time, the “Purchase Contract Agreement”), among the Company, U.S. Bank National Association, as Purchase Contract Agent (including its successors hereunder, the “Purchase Contract
Agent”) and U.S. Bank National Association, as Trustee under the Indenture. Reference is hereby made to the Purchase Contract Agreement and supplemental agreements thereto for a description of the respective rights, limitations of rights,
obligations, duties and immunities thereunder of the Purchase Contract Agent, the Company and the Holders and of the terms upon which the Purchase Contracts are, and are to be, executed and delivered. 

Each Purchase Contract evidenced hereby obligates the Company to deliver to the Holder of this Purchase Contract, on the
Mandatory Settlement Date, a number of shares of Common Stock equal to the Settlement Rate, unless such Purchase Contract settles prior to the Mandatory Settlement Date, in either case, pursuant to the terms of the Purchase Contract Agreement. 

No fractional shares of Common Stock will be issued upon settlement of Purchase Contracts, as provided in Section 4.04 of
the Purchase Contract Agreement. 
 The Purchase Contracts are issuable only in registered form and only in denominations of
a single Purchase Contract and any integral multiple thereof. The transfer of any Purchase Contract will be registered and Purchase Contracts may be exchanged as provided in the Purchase Contract Agreement. 

The Holder of this Purchase Contract, by its acceptance hereof, authorizes the Purchase Contract Agent to enter into and
perform the Purchase Contract Agreement on its behalf as its attorney-in-fact and agrees to be bound by the terms and provisions thereof. 

Subject to certain exceptions set forth in the Purchase Contract Agreement, the provisions of the Purchase Contract Agreement
may be amended with the consent of the Holders of a majority of the Purchase Contracts. 
 The Purchase Contracts, and any
claim, controversy or dispute arising under or related to the Purchase Contracts, shall be governed by, and construed in accordance with, the laws of the State of New York. 

The Company, the Purchase Contract Agent and its Affiliates and any agent of the Company or the Purchase Contract Agent may
treat the Person in whose name this Purchase Contract is registered as the absolute owner of the Purchase Contracts evidenced hereby for the purpose of performance of the Purchase Contracts and for all other purposes whatsoever, whether or not any
payments in respect thereof be overdue and notwithstanding any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice to the contrary. 

  
 B-5 

 The Purchase Contracts shall not, prior to the settlement thereof, entitle the
Holder to any of the rights of a holder of the Common Stock or other Reference Property. 
 Each Purchase Contract (whether
or not included in a Unit) is a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of New York on the date hereof. 

In the case of any conflict between this Purchase Contract and the Purchase Contract Agreement, the provisions of the Purchase
Contract Agreement shall control. 
 A copy of the Purchase Contract Agreement is available for inspection at the offices of
the Purchase Contract Agent. 

  
 B-6 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations: 
 TEN COM: as tenants in common 

 

							
	 UNIF GIFT MIN ACT:
	  	  
	  	         Custodian
	  	  

		  	         (cust)
	  		  	        (minor)

  

			
	 Under Uniform Gifts to Minors Act of
	  	  

 TENANT: as tenants by the entireties 

JT TEN: as joint tenants with right of survivorship and not as tenants in common 

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

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto (Please insert Social Security or Taxpayer
I.D. or other Identifying Number of Assignee) (Please Print or Type Name and Address Including Postal Zip Code of Assignee) the within Purchase Contracts and all rights thereunder, hereby irrevocably constituting and appointing attorney
                             
                                      , to transfer
said Purchase Contracts on the books of Banc of California, Inc. with full power of substitution in the premises. 
  

			
	     Dated:
	 	  

 

					
	  
	  	
	 Signature
	  	

 NOTICE: The signature to this assignment must correspond with the name as it appears upon the
face of the within Purchase Contracts in every particular, without alteration or enlargement or any change whatsoever. 
  

					
	 Signature Guarantee:
	  	  
	  	

  
 B-7 

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Common Stock or other securities deliverable upon settlement
on or after the Mandatory Settlement Date of the number of Purchase Contracts evidenced by this Purchase Contract be registered in the name of, and delivered, together with a check in payment for any fractional share, to the undersigned at the
address indicated below unless a different name and address have been indicated below. The undersigned will pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other securities to any Person other than the
undersigned. 
  

											
	 Dated:
	 	  
	 		 	  
	 	
		 		 		 	  Signature
	 		 	
						
		 		 		 	  Signature Guarantee:
	 	  
	 	
					
		 		 		 	  (if assigned to another Person)
	 	

  

			
	 If shares are to be registered in the name of and delivered to a Person other than the Holder, please (i) print such Person’s name and address and (ii)
provide a guarantee of your signature:
	  	

  

			
	  
	  	  

	                        Name	  	                Name
		
	  
	  	  

	                        Address	  	                Address
		
	  
	  	  

	  
	  	  

	  
	  	  

 Social Security or other Taxpayer Identification Number, if any
                                         
                              

  
 B-8 

 ELECTION TO SETTLE EARLY 

The undersigned Holder of this Purchase Contract hereby irrevocably exercises the option to effect Early Settlement in
accordance with the terms of the Purchase Contract with respect to the Purchase Contracts evidenced by this Purchase Contract specified below. The undersigned Holder directs that a certificate for shares of Common Stock or other securities
deliverable upon such Early Settlement be registered in the name of, and delivered, together with a check in payment for any fractional share and any Purchase Contract representing any Purchase Contracts evidenced hereby as to which Early Settlement
is not effected, to the undersigned at the address indicated below unless a different name and address have been indicated below. The undersigned will pay any transfer or similar taxes payable in connection with the issuance of Common Stock or other
securities to any Person other than the undersigned. 
  

							
	 Dated:
	 	  
	  		  	  

		 		  		  	 Signature

  

					
		  	Signature Guarantee:	  	  

  
 B-9 

 Number of Purchase Contracts evidenced hereby as to which Early Settlement is being elected: 

 

					
	If shares of Common Stock or Purchase Contracts are to be registered in the name of and delivered to a Person other than the Holder, please print such Person’s name and address:	  		  	 REGISTERED HOLDER

		  		  	 Please print name and address of Registered Holder:

			
	  
	  		  	  

			
	 Name
	  		  	 Name

			
	  
	  		  	  

			
	 Address
	  		  	 Address

	  
	  		  	  

	  
	  		  	  

	  
	  		  	  

  

					
	 Social Security or other Taxpayer Identification Number, if any
	 	  
	  	

  
 B-10 

 SCHEDULE A 

[INCLUDE IF A GLOBAL PURCHASE CONTRACT] 

SCHEDULE OF INCREASES OR DECREASES IN THE PURCHASE CONTRACTS 

The initial number of Purchase Contracts evidenced by this certificate is             
              . The following increases or decreases in this certificate have been made: 
  

									
	                Date          
      	 	    Amount of increase        
    in number
of        
    Purchase Contracts        
    evidenced by
the        
    Global Purchase        
    Contract        
	 	    Amount of decrease in        
    number of 
Purchase        
    Contracts evidenced        
    by the Global     
   
    Purchase Contract        	 	    Number of Purchase        
    Contracts evidenced  
      
    by the Global        
    Purchase Contract        
  
  following such        
    decrease or increase        	 	Signature of    
authorized signatory    
of Purchase Contract    

                Agent                    
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

  
 B-11EX-4.2

 Exhibit 4.2 
  

 
  

BANC OF CALIFORNIA, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  

 
 INDENTURE

  
 Dated as of May 21, 2014 

SUBORDINATED DEBT SECURITIES 
  

 

 EXECUTION
COPY                             

TABLE OF CONTENTS 
  

					
	 	  	 Page
	 
		
	 BANC OF CALIFORNIA, INC.
	  	 	v	  
		
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
		
	 SECTION 101. Definitions
	  	 	1	  
	 SECTION 102. Compliance Certificates and Opinions
	  	 	11	  
	 SECTION 103. Form of Documents Delivered to Trustee
	  	 	11	  
	 SECTION 104. Acts of Holders
	  	 	12	  
	 SECTION 105. Notices, etc.
	  	 	13	  
	 SECTION 106. Notice to Holders; Waiver
	  	 	14	  
	 SECTION 107. Effect of Headings and Table of Contents
	  	 	15	  
	 SECTION 108. Successors and Assigns
	  	 	15	  
	 SECTION 109. Separability Clause
	  	 	15	  
	 SECTION 110. Benefits of Indenture
	  	 	15	  
	 SECTION 111. No Personal Liability
	  	 	15	  
	 SECTION 112. Governing Law
	  	 	15	  
	 SECTION 113. Legal Holidays
	  	 	16	  
		
	 ARTICLE TWO SECURITIES FORMS
	  	 	16	  
		
	 SECTION 201. Forms of Securities
	  	 	16	  
	 SECTION 202. Form of Trustee’s Certificate of Authentication
	  	 	17	  
	 SECTION 203. Securities Issuable in Global Form
	  	 	17	  
		
	 ARTICLE THREE THE SECURITIES
	  	 	18	  
		
	 SECTION 301. Amount Unlimited; Issuable in Series
	  	 	18	  
	 SECTION 302. Denominations
	  	 	21	  
	 SECTION 303. Execution, Authentication, Delivery and Dating
	  	 	22	  
	 SECTION 304. Temporary Securities
	  	 	24	  
	 SECTION 305. Registration, Registration of Transfer and Exchange
	  	 	26	  
	 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities
	  	 	29	  
	 SECTION 307. Payment of Interest; Interest Rights Preserved
	  	 	30	  
	 SECTION 308. Persons Deemed Owners
	  	 	32	  
	 SECTION 309. Cancellation
	  	 	33	  
	 SECTION 310. Computation of Interest
	  	 	33	  
		
	 ARTICLE FOUR SATISFACTION AND DISCHARGE
	  	 	33	  
		
	 SECTION 401. Satisfaction and Discharge of Indenture
	  	 	34	  
	 SECTION 402. Application of Trust Funds.
	  	 	35	  
		
	 ARTICLE FIVE REMEDIES
	  	 	35	  

  
 i 

					
	 SECTION 501. Events of Default
	  	 	35	  
	 SECTION 502. Acceleration of Maturity; Rescission and Annulment
	  	 	36	  
	 SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	37	  
	 SECTION 504. Trustee May File Proofs of Claim
	  	 	38	  
	 SECTION 505. Trustee May Enforce Claims Without Possession of Securities or Coupons
	  	 	39	  
	 SECTION 506. Application of Money Collected
	  	 	39	  
	 SECTION 507. Limitation on Suits
	  	 	40	  
	 SECTION 508. Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, Interest and Additional
Amounts
	  	 	40	  
	 SECTION 509. Restoration of Rights and Remedies
	  	 	41	  
	 SECTION 510. Rights and Remedies Cumulative
	  	 	41	  
	 SECTION 511. Delay or Omission Not Waiver
	  	 	41	  
	 SECTION 512. Control by Holders of Securities
	  	 	41	  
	 SECTION 513. Waiver of Past Defaults
	  	 	41	  
	 SECTION 514. Waiver of Stay or Extension Laws
	  	 	42	  
	 SECTION 515. Undertaking for Costs
	  	 	42	  
		
	 ARTICLE SIX THE TRUSTEE
	  	 	43	  
		
	 SECTION 601. Notice of Defaults
	  	 	43	  
	 SECTION 602. Certain Rights of Trustee
	  	 	43	  
	 SECTION 603. Not Responsible for Recitals or Issuance of Securities
	  	 	45	  
	 SECTION 604. May Hold Securities
	  	 	45	  
	 SECTION 605. Money Held in Trust
	  	 	45	  
	 SECTION 606. Compensation and Reimbursement
	  	 	45	  
	 SECTION 607. Corporate Trustee Required; Eligibility
	  	 	46	  
	 SECTION 608. Resignation and Removal; Appointment of Successor
	  	 	46	  
	 SECTION 609. Acceptance of Appointment By Successor
	  	 	48	  
	 SECTION 610. Merger, Conversion, Consolidation or Succession to Business
	  	 	49	  
	 SECTION 611. Appointment of Authenticating Agent
	  	 	50	  
	 SECTION 612. Certain Duties and Responsibilities
	  	 	51	  
	 SECTION 613. Conflicting Interests
	  	 	51	  
	 SECTION 614. Appointment of Co-Trustee
	  	 	51	  
		
	 ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	53	  
		
	 SECTION 701. Disclosure of Names and Addresses of Holders
	  	 	53	  
	 SECTION 702. Reports by Trustee
	  	 	53	  
	 SECTION 703. Reports by Company
	  	 	53	  
	 SECTION 704. Company to Furnish Trustee Names and Addresses of Holders
	  	 	54	  
		
	 ARTICLE EIGHT CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE
	  	 	54	  
		
	 SECTION 801. Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions
	  	 	54	  

  
 ii 

					
	 SECTION 802. Rights and Duties of Successor Corporation
	  	 	55	  
	 SECTION 803. Officers’ Certificate and Opinion of Counsel
	  	 	55	  
		
	 ARTICLE NINE SUPPLEMENTAL INDENTURES
	  	 	55	  
		
	 SECTION 901. Supplemental Indentures Without Consent of Holders
	  	 	55	  
	 SECTION 902. Supplemental Indentures with Consent of Holders
	  	 	57	  
	 SECTION 903. Execution of Supplemental Indentures
	  	 	58	  
	 SECTION 904. Effect of Supplemental Indentures
	  	 	58	  
	 SECTION 905. Conformity with Trust Indenture Act
	  	 	58	  
	 SECTION 906. Reference in Securities to Supplemental Indentures
	  	 	59	  
	 SECTION 907. Notice of Supplemental Indentures
	  	 	59	  
	 SECTION 908. Subordination Unimpaired
	  	 	59	  
		
	 ARTICLE TEN COVENANTS
	  	 	59	  
		
	 SECTION 1001. Payment of Principal, Premium or Make-Whole Amount, if any, Interest and Additional Amounts
	  	 	59	  
	 SECTION 1002. Maintenance of Office or Agency
	  	 	59	  
	 SECTION 1003. Money for Securities Payments to Be Held in Trust
	  	 	61	  
	 SECTION 1004. [Reserved]
	  	 	62	  
	 SECTION 1005. Existence
	  	 	62	  
	 SECTION 1006. Maintenance of Properties
	  	 	62	  
	 SECTION 1007. Insurance
	  	 	63	  
	 SECTION 1008. Payment of Taxes and Other Claims
	  	 	63	  
	 SECTION 1009. Provision of Financial Information
	  	 	63	  
	 SECTION 1010. Statement as to Compliance
	  	 	63	  
	 SECTION 1011. Additional Amounts
	  	 	64	  
	 SECTION 1012. Waiver of Certain Covenants
	  	 	65	  
		
	 ARTICLE ELEVEN REDEMPTION OF SECURITIES
	  	 	65	  
		
	 SECTION 1101. Applicability of Article
	  	 	65	  
	 SECTION 1102. Election to Redeem; Notice to Trustee
	  	 	65	  
	 SECTION 1103. Selection by Trustee of Securities to Be Redeemed
	  	 	65	  
	 SECTION 1104. Notice of Redemption
	  	 	66	  
	 SECTION 1105. Deposit of Redemption Price
	  	 	67	  
	 SECTION 1106. Securities Payable on Redemption Date
	  	 	68	  
	 SECTION 1107. Securities Redeemed in Part
	  	 	69	  
		
	 ARTICLE TWELVE SINKING FUNDS
	  	 	69	  
		
	 SECTION 1201. Applicability of Article
	  	 	69	  
	 SECTION 1202. Satisfaction of Sinking Fund Payments with Securities
	  	 	69	  
	 SECTION 1203. Redemption of Securities for Sinking Fund
	  	 	70	  
		
	 ARTICLE THIRTEEN [RESERVED]
	  	 	70	  

  
 iii 

					
	 ARTICLE FOURTEEN DEFEASANCE AND COVENANT DEFEASANCE
	  	 	70	  
		
	 SECTION 1401. Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	70	  
	 SECTION 1402. Defeasance and Discharge
	  	 	70	  
	 SECTION 1403. Covenant Defeasance
	  	 	71	  
	 SECTION 1404. Conditions to Defeasance or Covenant Defeasance
	  	 	72	  
	 SECTION 1405. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions
	  	 	73	  
		
	 ARTICLE FIFTEEN MEETINGS OF HOLDERS OF SECURITIES
	  	 	74	  
		
	 SECTION 1501. Purposes for Which Meetings May Be Called
	  	 	74	  
	 SECTION 1502. Call, Notice and Place of Meetings
	  	 	75	  
	 SECTION 1503. Persons Entitled to Vote at Meetings
	  	 	75	  
	 SECTION 1504. Quorum; Action
	  	 	75	  
	 SECTION 1505. Determination of Voting Rights; Conduct and Adjournment of Meetings
	  	 	76	  
	 SECTION 1506. Counting Votes and Recording Action of Meetings
	  	 	77	  
	 SECTION 1507. Evidence of Action Taken by Holders
	  	 	78	  
	 SECTION 1508. Proof of Execution of Instruments
	  	 	78	  
		
	 ARTICLE SIXTEEN [RESERVED]
	  	 	78	  
		
	 ARTICLE SEVENTEEN SUBORDINATION
	  	 	78	  
		
	 SECTION 1701. Agreement to Subordinate
	  	 	78	  
	 SECTION 1702. Liquidation; Dissolution; Bankruptcy
	  	 	78	  
	 SECTION 1703. Default on Senior Debt
	  	 	79	  
	 SECTION 1704. Acceleration of Securities
	  	 	79	  
	 SECTION 1705. When Distribution Must Be Paid Over
	  	 	79	  
	 SECTION 1706. Notice by Company
	  	 	79	  
	 SECTION 1707. Subrogation
	  	 	80	  
	 SECTION 1708. Relative Rights
	  	 	80	  
	 SECTION 1709. Subordination May Not Be Impaired By Company
	  	 	80	  
	 SECTION 1710. Distribution or Notice to Representative
	  	 	80	  
	 SECTION 1711. Rights of Trustee and Paying Agent
	  	 	80	  
	 SECTION 1712. Force Majeure
	  	 	81	  
	 SECTION 1713. U.S.A. Patriot Act
	  	 	81	  

  
 iv 

 BANC OF CALIFORNIA, INC. 

Reconciliation and tie between Trust Indenture Act of 1939, as amended (the “TIA”), and Indenture, dated as of May 21, 2014: 

 

			
	Trust Indenture Act Section	  	Indenture Section
	Section 310(a)(1)	  	607
	 (a)(2)
	  	607
	 (b)
	  	608, 613
	Section 312(a)	  	704
	 (c)
	  	701
	Section 313(a)	  	702
	Section 314(a)	  	703
	 (a)(4)
	  	1010
	 (c)(1)
	  	102
	 (c)(2)
	  	102
	 (e)
	  	102
	Section 315(b)	  	601, 602
	Section 316(a)(last sentence)	  	101 (“Outstanding”)
	 (a)(1)(A)
	  	502, 512
	 (a)(1)(B)
	  	513
	 (b)
	  	508
	Section 317(a)(1)	  	503
	 (a)(2)
	  	504
	Section 318(a)	  	112
	 (c)
	  	112

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

Attention should also be directed to Section 318(c) of the TIA, which provides that the provisions of Sections 310 to and including 317 of the TIA are a
part of and govern every qualified indenture, whether or not physically contained therein. 

  
 v 

 INDENTURE 

INDENTURE, dated as of May 21, 2014, between BANC OF CALIFORNIA, INC., a Maryland corporation (the “Company”), having its
principal office at 18500 Von Karman Avenue, Suite 1100, Irvine, California 92612 and U.S. Bank National Association, as Trustee hereunder (the “Trustee”), having its Corporate Trust Office at 100 Wall Street, Suite 1600, New York, New
York 10005. 
 RECITALS OF THE COMPANY 

The Company deems it necessary to issue from time to time for its lawful purposes subordinated debt securities (the “Securities”)
evidencing its unsecured and subordinated indebtedness, and has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of the Securities, unlimited as to aggregate principal amount, to bear
interest at the rates or formulas, to mature at such times and to have such other provisions as shall be fixed therefor as hereinafter provided. 

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

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

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

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

SECTION 101.  Definitions. 

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

(1)  the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the
singular; 
 (2)  all other terms used herein that are defined in the TIA, either directly or by reference therein, have the
meanings assigned to them therein, and the terms “cash transaction” and “self-liquidating paper,” as used in TIA Section 311, shall have the meanings assigned to them in the rules of the Commission adopted under the TIA;

 (3)  all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with accounting
principles generally accepted in the United States; and 
 (4)  the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

 Certain terms, used principally in Article Three, Article Five, Article Six and Article Ten, are defined in those
Articles. In addition, the following terms shall have the indicated respective meanings: 
 “Act” has the meaning specified in
Section 104. 
 “Additional Amounts” means any additional amounts that are required by a Security, under circumstances
specified therein, to be paid by the Company in respect of certain taxes imposed on certain Holders and that are owing to such Holders. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For the purposes of this definition, 
 “control” when used with respect to
any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. 
 “Authenticating Agent” means any authenticating agent
appointed by the Trustee pursuant to Section 611. 
 “Authorized Newspaper” means a newspaper, printed in the English
language or in an official language of the country of publication, customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in each place in connection with which the term is
used or in the financial community of each such place. Whenever successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different Authorized Newspapers in the same city
meeting the foregoing requirements and in each case on any Business Day. 
 “Bankruptcy Law” has the meaning specified in
Section 501. 
 “Bearer Security” means a Security that is payable to bearer. 

“Board of Directors” means either (i) the Board of Directors of the Company, the executive committee or any other committee or
director of that board duly authorized to act for it in respect hereof, or (ii) one or more duly authorized officers of the Company to whom the Board of Directors of the Company or a committee thereof has delegated the authority to act with
respect to the matters contemplated by this Indenture. 
 “Board Resolution” means (i) 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 or a committee thereof, and to be in full force and effect on the date of such certification, and delivered to the Trustee or (ii) a
certificate signed by the authorized officer or officers of the Company to whom the Board of Directors of the Company or a committee thereof has delegated its authority (as described in the definition of Board of Directors), and in each case,
delivered to the Trustee. 

  
 2 

 “Business Day,” when used with respect to any Place of Payment or any other particular
location referred to in this Indenture or in the Securities, means, unless otherwise specified with respect to any Securities pursuant to Section 301, any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which
banking institutions in that Place of Payment or particular location are authorized or required by law, regulation or executive order to close. 

“Clearstream” means Clearstream Banking, societe anonyme Luxembourg. 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or, if
at any time after execution of this instrument such Commission is not existing and performing the duties now assigned to it under the TIA, then the body performing such duties on such date. 

“Common Depository” has the meaning specified in Section 304(b). 

“Company” means the Person named as the “Company” in the first paragraph of this Indenture until a successor corporation
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 

“Company Request” and “Company Order” mean, respectively, a written request or order signed in the name of the Company by
the President or a Vice President of the Company, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. 

“Conversion Event” means the cessation of use of (i) a Foreign Currency (other than as otherwise provided with respect to a
Security pursuant to Section 301) as provided by the government of the country that issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, or
(ii) the ECU, both within the European Monetary System and for the settlement of transactions by public in situations of or within the European Community, or (iii) any currency unit (or composite currency) for the purposes for which it was
established. 
 “Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust
business in New York shall be principally administered, which office at the date hereof is located at 100 Wall Street, Suite 1600, New York, New York 10005. 

“Corporation” includes corporations, associations, companies and business trusts. 

“Coupon” means any interest coupon appertaining to a Bearer Security. 

“Custodian” has the meaning set forth in Section 501. 

“Debt” means the principal, premium, if any, unpaid interest (including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such proceeding), fees, charges, expenses, reimbursement and indemnification obligations, and all other amounts payable under or
in respect of the following indebtedness of the Company for money borrowed, whether any 

  
 3 

 
such indebtedness exists as of the date of the Indenture or is created, incurred, assumed or guaranteed after such date: 

(i) any debt (a) for money borrowed, (b) evidenced by a bond, note, debenture, or similar instrument (including purchase money
obligations) given in connection with the acquisition of any business, property or assets, whether by purchase, merger, consolidation or otherwise, but shall not include any account payable or other obligation created or assumed in the ordinary
course of business in connection with the obtaining of materials or services, or (c) that is a direct or indirect obligation that arises as a result of banker’s acceptances or bank letters of credit issued to secure obligations of the
Company, or to secure the payment of revenue bonds issued for the benefit of the Company, whether contingent or otherwise; 
 (ii) any debt
of others described in the preceding clause (i) that the Company has guaranteed or for which it is otherwise liable; 
 (iii) the
obligation of the Company, as lessee under any lease of property that is reflected on the Company’s balance sheet as a capitalized lease; and 

(iv) any deferral, amendment, renewal, extension, supplement or refunding of any liability of the kind described in any of the preceding
clauses (i), (ii), and (iii); provided, however, that, in computing indebtedness of the Company, there shall be excluded any particular indebtedness if, upon or prior to the maturity thereof, there shall have been deposited with a depository in
trust money (or evidence of indebtedness if permitted by the instrument creating such indebtedness) in the necessary amount to pay, redeem or satisfy such indebtedness as it becomes due, and the amount so deposited shall not be included in any
computation of the assets of the Company. 
 “Defaulted Interest” has the meaning specified in Section 307. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States of America as at the
time shall be legal tender for payment of public and private debts. 
 “DTC” means The Depository Trust Company. 

“Euroclear” means Euroclear Bank, or its successor as operator of the Euroclear System. 

“Event of Default” has the meaning specified in Section 501. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder by the
Commission. 
 “Foreign Currency” means any currency, currency unit or composite currency issued by the government of one or more
countries other than the United States of America or by any recognized confederation or association of such governments. 
 “GAAP”
means generally accepted accounting principles as used in the United States applied on a consistent basis as in effect from time to time; provided that solely for purposes of 

  
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any calculation required by the financial covenants contained herein, “GAAP” shall mean generally accepted accounting principles as used in the United States on the date hereof, applied
on a consistent basis. 
 “Government Obligations” means securities that are (i) direct obligations of the United States of
America or the government that issued the Foreign Currency in which the Securities of a particular series are payable, 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 of America or such government that issued the Foreign Currency in which the Securities of such series are payable, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States of America or such other government, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank or trust company as
custodian with respect to any such Government Obligation or a specific payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as
required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of
interest on or principal of the Government Obligation evidenced by such depository receipt. 
 “Holder” means, in the case of a
Registered Security, the Person in whose name a Security is registered in the Security Register and, in the case of a Bearer Security, the bearer thereof and, when used with respect to any coupon, shall mean the bearer thereof. 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more
indentures supplemental hereto entered into pursuant to the applicable provisions hereof, and shall include the terms of particular series of Securities established as contemplated by Section 301; provided, however, that, if at any time more
than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of the or those particular series of Securities for which such Person is Trustee
established as contemplated by Section 301, exclusive, however, of any provisions or terms that relate solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted, and
exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such Person had become such Trustee but to which such Person, as such Trustee, was not a party. 

“Indexed Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be
more or less than the principal face amount thereof at original issuance. 
 “Interest” when used with respect to an Original
Issue Discount Security that by its terms bears interest only after Maturity, shall mean interest payable after Maturity, and, when used 

  
 5 

 
with respect to a Security that provides for the payment of Additional Amounts pursuant to Section 1011, includes such Additional Amounts. 

“Interest Payment Date” means, when used with respect to any Security, the Stated Maturity of an installment of interest on such
Security. 
 “Make-Whole Amount” means the amount, if any, in addition to principal that is required by a Security, under the
terms and conditions specified therein or as otherwise specified as contemplated by Section 301, to be paid by the Company to the Holder thereof in connection with any optional redemption or accelerated payment of such Security. 

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

“Officers’ Certificate” means a certificate signed by the President or a Vice President and by the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee. 
 “Opinion of Counsel” means a
written opinion of counsel, who may be an employee of or counsel for the Company or other counsel satisfactory to the Trustee. 

“Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due
and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
 “Outstanding,” when used
with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except: 

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

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

(iii) Securities, except solely to the extent provided in Sections 1402 or 1403, as applicable, with respect to which the Company has effected
defeasance and/or covenant defeasance as provided in Article Fourteen; 
 (iv) Securities that have been paid pursuant to Section 306
or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof

  
 6 

 
satisfactory to the Trustee that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company; and 

(v) Securities converted or exchanged into other securities or property (including securities of other issuers, provided that such securities
are registered under Section 12 of the Exchange Act and such issuer is then eligible to use Form S-3 (or any successor form) for a primary offering of its securities) of the Company pursuant to or in accordance with this Indenture if the terms
of such Securities provide for convertibility or exchange pursuant to Section 301; provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding Securities have given any request, demand,
authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, and for the purpose of making the calculations required by TIA Section 313, (i) the principal amount of an Original
Issue Discount Security that may be counted in making such determination or calculation and that shall be deemed to be Outstanding for such purpose shall be equal to the amount of principal thereof that would be (or shall have been declared to be)
due and payable, at the time of such determination, upon a declaration of acceleration of the maturity thereof pursuant to Section 502, (ii) the principal amount of any Security denominated in a Foreign Currency that may be counted in
making such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to the Dollar equivalent, determined pursuant to Section 301 as of the date such Security is originally issued by the Company, of the
principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent as of such date of original issuance of the amount determined as provided in clause (i) above) of such Security, (iii) the principal amount of
any Indexed Security that may be counted in making such determination or calculation and that shall be deemed outstanding for such purpose shall be equal to the principal face amount of such Indexed Security at original issuance, unless otherwise
provided with respect to such Indexed Security pursuant to Section 301, and (iv) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and
deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such calculation or in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities that a
Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 

“Paying Agent” means any Person authorized by the Company to pay the principal of (and premium or Make-Whole Amount, if any) or
interest on any Securities, or coupons on behalf of the Company, or if no such Person is authorized, the Company. 
 “Person”
means any individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment” means, when used with respect to the Securities of or within any series, the place or places where the principal
of (and premium or Make-Whole Amount, if any) 

  
 7 

 
and interest on such Securities are payable as specified as contemplated by Sections 301 and 1002. 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that
evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a
mutilated, destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security or the Security to which the mutilated, destroyed, lost or stolen coupon appertains. 

“Redemption Date” means, when used with respect to any security to be redeemed in whole or in part, the date fixed for such
redemption by or pursuant to this Indenture. 
 “Redemption Price” means, when used with respect to any Security to be redeemed,
the price at which it is to be redeemed pursuant to this Indenture. 
 “Registered Security” means any Security that is registered
in the Security Register. 
 “Regular Record Date” for the installment of interest payable on any Interest Payment Date on the
Registered Securities of or within any series means the date specified for that purpose as contemplated by Section 301, whether or not a Business Day. 

“Repayment Date” means, when used with respect to any Security to be repaid, the date fixed for such repayment by or pursuant to
this Indenture. 
 “Repayment Price” means, when used with respect to any Security to be repaid or purchased, the price at which
it is to be repaid pursuant to this Indenture. 
 “Representative” means the indenture trustee or other trustee, agent or
representative for an issue of Senior Debt. 
 “Responsible Officer” means any vice president, assistant vice president, assistant
treasurer, assistant secretary or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of this Indenture, and
also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder by the
Commission. 
 “Security” has the meaning stated in the first recital of this Indenture and, more particularly, means any Security
or Securities authenticated and delivered under this Indenture; provided, however, that if at any time there is more than one Person acting as Trustee under this Indenture, “Securities” with respect to the Indenture as to which such Person
is Trustee shall have the meaning stated in the first recital of this Indenture and shall more particularly mean 

  
 8 

 
Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of or within any series as to which such Person is not Trustee. 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 305. 

“Senior Debt” means the principal, premium, if any, unpaid interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to the Company whether or not a claim for post-filing interest is allowed in such proceeding), fees, charges, expenses, reimbursement and indemnification obligations, and all other amounts
payable under or in respect of the following indebtedness of the Company for money borrowed, whether any such indebtedness exists as of the date of the Indenture or is created, incurred, assumed or guaranteed after such date: 

(i) any debt (a) for money borrowed by the Company, or (b) evidenced by a bond, note, debenture, or similar instrument (including
purchase money obligations) given in connection with the acquisition of any business, property or assets, whether by purchase, merger, consolidation or otherwise, but shall not include any account payable or other obligation created or assumed in
the ordinary course of business in connection with the obtaining of materials or services, or (c) which is a direct or indirect obligation which arises as a result of banker’s acceptances or bank letters of credit issued to secure
obligations of the Company, or to secure the payment of revenue bonds issued for the benefit of the Company whether contingent or otherwise; 

(ii) any debt of others described in the preceding clause (i) which the Company has guaranteed or for which it is otherwise liable; 

(iii) the obligation of the Company as lessee under any lease of property which is reflected on the Company’s balance sheet as a
capitalized lease; and 
 (iv) any deferral, amendment, renewal, extension, supplement or refunding of any liability of the kind described
in any of the preceding clauses (i), (ii) and (iii); 
 provided, however, that, in determining the indebtedness of the Company, there shall be
excluded any particular indebtedness if, upon or prior to the maturity thereof, there shall have been deposited with a depository in trust money (or evidence of indebtedness if permitted by the instrument creating such indebtedness) in the necessary
amount to pay, redeem or satisfy such indebtedness as it becomes due, and the amount so deposited shall not be included in any determination of the indebtedness of the Company provided, further, that in determining the indebtedness of the Company
hereunder, there shall be excluded (1) any such indebtedness, obligation or liability referred to in clauses (i) through (iv) above as to which, in the instrument creating or evidencing the same or pursuant to which the same is
outstanding, it is provided that such indebtedness, obligation or liability is not superior in right of payment to the Securities, or ranks pari passu with the Securities, (2) any such indebtedness, obligation or liability which is subordinated
to indebtedness of the Company to substantially the same extent as or to a greater extent than the Securities are subordinated, (3) any indebtedness to a subsidiary of the Company and (4) the Securities. There is no limit on the amount of
Senior Debt that the Company may incur. 

  
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 “Special Record Date” for the payment of any Defaulted Interest on the Registered
Securities of or within any series means a date fixed by the Trustee pursuant to Section 307. 
 “Stated Maturity” means,
when used with respect to any Security or any installment of principal thereof or interest thereon, the date specified in such Security or a coupon representing such installment of interest as the fixed date on which the principal of such Security
or such installment of principal or interest is due and payable. 
 “Subsidiary” means a corporation or a partnership or a limited
liability company a majority of the outstanding Voting Stock or partnership or membership interests, as the case may be, of which is owned or controlled, directly or indirectly, by the Company or by one or more of its other Subsidiaries. 

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in force at the date as of which
this Indenture was executed, except as provided in Section 905. 
 “Trustee” means the Person named as the
“Trustee” in the first paragraph of this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a
Trustee hereunder; provided, however, that if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of or within any series shall mean only the Trustee with respect to the Securities of that
series. 
 “United States” means, unless otherwise specified with respect to any Securities pursuant to Section 301, the
United States of America (including the states and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

“United States person” means, unless otherwise specified with respect to any Securities pursuant to Section 301, an individual
who is a citizen or resident of the United States, a corporation, partnership or other entity created or organized in or under the laws of the United States or any state or the District of Columbia or an estate or trust the income of which is
subject to United States federal income taxation regardless of its source. 
 “Voting Stock” means stock having voting power for
the election of directors, or trustees, as the case may be. 
 “Yield to Maturity” means the yield to maturity, computed at the
time of issuance of a Security (or, if applicable, at the most recent predetermination of interest on such Security) and as set forth in such Security in accordance with generally accepted United States bond yield computation principles. 

  
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 SECTION 102.  Compliance Certificates and Opinions. 

Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture (including covenants, compliance with which constitute conditions precedent) relating to the proposed action have been
complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such
documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (excluding certificates
delivered pursuant to Section 1010) shall include: 
 (1)  a statement that each individual signing such certificate or
opinion has read such condition or covenant and the definitions herein relating thereto; 
 (2)  a brief statement as to the
nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

(3)  a statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to
enable him to express an informed opinion as to whether or not such condition or covenant has been complied with; and 
 (4)  a
statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 SECTION
103.  Form of Documents Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by
an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give
an opinion as to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, or a
certificate or representations by counsel, unless such officer knows, or in the exercise of reasonable care should know, that the opinion, certificate or representations with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such Opinion of Counsel or certificate or representations may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the
information as to such factual matters is in the possession of the Company, unless such counsel knows that the certificate or opinion or representations as to such matters are erroneous. 

  
 11 

 Where any Person is required to make, give or execute two or more applications, requests,
consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

SECTION 104.  Acts of Holders. 

(a)  Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this
Indenture to be given or taken by Holders of the Outstanding Securities of all series or one or more series, as the case may be, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in
person or by agents duly appointed in writing. If Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders of Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, whether in person or by proxies duly appointed in writing, at any meeting of Holders
of Securities of such series duly called and held in accordance with the provisions of Article Fifteen, or a combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when
such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any
Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 612) conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this
Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 1506. 

(b)  The fact and date of the execution by any Person of any such instrument or writing may be proved by the
affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution
thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other reasonable manner that the Trustee deems sufficient. 

(c)  The ownership of Registered Securities shall be proved by the Security Register or by a certificate of the
Security Registrar. 
 (d)  The ownership of Bearer Securities may be proved by the production of such Bearer
Securities or by a certificate executed, as depository, by any trust company, bank, banker or other depository, wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date therein mentioned such
person had on 

  
 12 

 
deposit with such depository, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate or affidavit of the Person holding such Bearer
Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later
date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such
Bearer Security is no longer Outstanding. The ownership of Bearer Securities may also be proved in any other manner that the Trustee deems sufficient. 

(e)  If the Company shall solicit from the Holders of Registered Securities any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, in or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section 316(c), such record date shall be the record date specified in or pursuant to such Board Resolution, which shall be a date not
earlier than the date 30 days prior to the first solicitation of Holders generally in connection therewith and not later than the date such solicitation is completed. If such a record date is fixed, such request, demand, authorization, direction,
notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the
requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of
such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than eleven months after
the record date. 
 (f)  Any request, demand, authorization, direction, notice, consent, waiver or other Act of
the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or
suffered to be done by the Trustee, any Security Registrar, any Paying Agent, any Authenticating Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 

SECTION 105.  Notices, etc. 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this
Indenture to be made upon, given or furnished to or filed with, 

  
 13 

 (1)  the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Department, Administrator – Banc of California, or 

(2)  the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if in writing and mailed, first class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first paragraph of this Indenture or at any other address previously furnished in writing to the
Trustee by the Company. 
 SECTION 106.  Notice to Holders; Waiver. 

Where this Indenture provides for notice of any event to Holders of Registered Securities by the Company or the Trustee, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at his address as it appears in the Security Register (or in the case of global
Securities, delivered to DTC electronically), not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders of Registered Securities is given by mail or
electronically as prescribed above, neither the failure to mail or send such notice, nor any defect in any notice so mailed or sent, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders of Registered
Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein. Any notice mailed or sent to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, whether or
not such Holder actually receives such notice. 
 Except as otherwise expressly provided herein or otherwise specified with respect to any
Securities pursuant to Section 301, where this Indenture provides for notice to Holders of Bearer Securities of any event, such notice shall be sufficiently given if published, at the expense of the Company if published by the Trustee, in an
Authorized Newspaper in the City of Irvine, California and in such other city or cities as may be specified in such Securities, and if the Securities of such series are listed on any stock exchange outside the United States, in any place at which
such Securities are listed on a securities exchange to the extent that such securities exchange so requires, on a Business Day, such publication to be not later than the latest date, and not earlier than the earliest date, prescribed for the giving
of such notice. Any such notice shall be deemed to have been given on the date of such publication or, if published more than once, on the date of the first such publication. 

If by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be
impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for
every purpose hereunder. Neither the failure to give notice by publication to any particular Holder of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of such notice with respect to other
Holders of Bearer Securities or the sufficiency of any notice to Holders of Registered Securities given as provided herein. 

  
 14 

 Any request, demand, authorization, direction, notice, consent or waiver required or permitted
under this Indenture shall be in writing and in the English language, except that any published notice may be in an official language of the country of publication. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver. 
 SECTION 107.  Effect of Headings and Table of Contents. 

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

SECTION 108.  Successors and Assigns. 

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

SECTION 109.  Separability Clause. 

In case any provision in this Indenture or in any Security or coupon 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 110.  Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities or coupons appertaining thereto, express or implied, shall give to any Person,
other than the parties hereto, any Security Registrar, any Paying Agent, any Authenticating Agent and their successors hereunder (and, with respect to Article Seventeen, the holders of Senior Debt) or the Holders any benefit or any legal or
equitable right, remedy or claim under this Indenture. 
 SECTION 111.  No Personal Liability. 

No recourse under or upon any obligation, covenant or agreement contained in this Indenture, in any Security or coupon appertaining thereto,
or because of any indebtedness evidenced thereby, shall be had against any promoter, as such, or against any past, present or future shareholder, officer or director, as such, of the Company or of any successor, either directly or through the
Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the
acceptance of the Securities by the Holders thereof and as part of the consideration for the issue of the Securities. 
 SECTION
112.  Governing Law. 

  
 15 

 This Indenture and the Securities and coupons shall be governed by and construed in accordance
with the laws of the State of New York. This Indenture is subject to the provisions of the TIA that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 

SECTION 113.  Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity or Maturity of any
Security or the last date on which a Holder has the right to convert or exchange a Security at a particular conversion or exchange price shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture
or any Security or coupon other than a provision in the Securities of any series that specifically states that such provision shall apply in lieu hereof), payment of interest or any Additional Amounts or principal (and premium or Make-Whole Amount,
if any) need not be made at such Place of Payment on such date, conversion or exchange need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and
effect as if made on the Interest Payment Date, Redemption Date, Repayment Date or sinking fund payment date, or at the Stated Maturity or Maturity or on such last day for conversion or exchange, provided that no interest shall accrue on the amount
so payable for the period from and after such Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity or Maturity or on such last day for conversion or exchange, as the case may be. 

ARTICLE TWO 
 SECURITIES FORMS

 SECTION 201.  Forms of Securities. 

The Registered Securities, if any, of each series and the Bearer Securities, if any, and related coupons of each series, shall be in
substantially the forms as shall be established in or pursuant to one or more indentures supplemental hereto or Board Resolutions, shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by
this Indenture or any indenture supplemental hereto, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed thereon as the Company may deem appropriate and as are not inconsistent
with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which the Securities may be listed, or to conform to
usage. 
 Unless otherwise specified as contemplated by Section 301, Bearer Securities shall have interest coupons attached. 

The definitive Securities and coupons shall be printed, lithographed or engraved or produced by any combination of these methods on a steel
engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officers of the 

  
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Company executing such Securities or coupons, as evidenced by their execution of such Securities or coupons. 

SECTION 202.  Form of Trustee’s Certificate of Authentication. 

Subject to Section 611, the Trustee’s certificate of authentication shall be in substantially the following form: 

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

 

					
		 	                              , as Trustee	 	
		 	By	 	
		 	        Authorized Signatory	 	

 SECTION 203.  Securities Issuable in Global Form. 

If Securities of or within a series are issuable in global form, as specified as contemplated by Section 301, then, notwithstanding
clause (8) of Section 301 and the provisions of Section 302, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate
amount of Outstanding Securities of such series from time to time endorsed thereon and that the aggregate amount of Outstanding Securities of such series represented thereby may from time to time be increased or decreased to reflect exchanges,
maturities or redemptions. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon written
instruction given by such Person or Persons as shall be specified therein or in the Company Order delivered pursuant to Section 303 or 304. Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall
deliver and redeliver any Security in permanent global form in the manner and upon written instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section 303 or 304 has
been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form shall be in writing but need not comply with Section 102. 

The provisions of the last sentence of Section 303 shall apply to any Security represented by a Security in global form if such Security
was never issued and sold by the Company and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) with
regard to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last sentence of Section 303. 

Notwithstanding the provisions of Section 307, unless otherwise specified as contemplated by Section 301, payment of principal of
and any premium or Make-Whole Amount and interest on any Security in permanent global form shall be made to the Person or Persons specified therein. 

  
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 Notwithstanding the provisions of Section 308 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a permanent global Security (i) in the case of a permanent global
Security in registered form, the Holder of such permanent global Security in registered form, or (ii) in the case of a permanent global Security in bearer form, Euroclear or Clearstream. 

Notwithstanding any other provision of this Indenture, so long as a series of Securities is a Global Security, the parties hereto will be
bound at all times by the procedures of the applicable depositary with respect to such series. 
 ARTICLE THREE 

THE SECURITIES 
 SECTION
301.  Amount Unlimited; Issuable in Series. 
 The aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series. There shall be established in or
pursuant to one or more Board Resolutions, or indentures supplemental hereto, prior to the issuance of Securities of any series, any or all of the following, as applicable (each of which (except for the matters set forth in clauses (1), (2) and
(15) below), if so provided, may be determined from time to time by the Company with respect to unissued Securities of or within the series when issued from time to time): 

(1)  the title of the Securities of or within the series (that shall distinguish the Securities of such series from all other series
of Securities); 
 (2)  any limit upon the aggregate principal amount of the Securities of or within the series that may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of or within the series pursuant to Section 304, 305, 306,
906 or 1107); 
 (3)  the date or dates, or the method by which such date or dates will be determined, on which the principal of
the Securities of or within the series shall be payable and the amount of principal payable thereon; 
 (4)  the rate or rates
(that may be fixed or variable) at which the Securities of or within the series shall bear interest, if any, or the method by which such rate or rates shall be determined, the date or dates from which such interest shall accrue or the method by
which such date or dates shall be determined, the Interest Payment Dates on which such interest will be payable and the Regular Record Date, if any, for the interest payable on any Registered Security on any Interest Payment Date, or the method by
which such date shall be determined, and the basis upon which interest shall be calculated if other than that of a 360-day year consisting of twelve 30-day months; 

  
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 (5)  the place or places, if any, other than or in addition to the City of Irvine,
California, where the principal of (and premium or Make-Whole Amount, if any), interest, if any, on, and Additional Amounts, if any, payable in respect of, Securities of or within the series shall be payable, any Registered Securities of or within
the series may be surrendered for registration of transfer, exchange or conversion and notices or demands to or upon the Company in respect of the Securities of or within the series and this Indenture may be served; 

(6)  the period or periods within which, the price or prices (including the premium or Make-Whole Amount, if any) at which, the
currency or currencies, currency unit or units or composite currency or currencies in which and other terms and conditions upon which Securities of or within the series may be redeemed in whole or in part, at the option of the Company, if the
Company is to have the option; 
 (7)  the obligation, if any, of the Company to redeem, repay or purchase Securities of or within
the series pursuant to any sinking fund or analogous provision or at the option of a Holder thereof, and the period or periods within which or the date or dates on which, the price or prices at which, the currency or currencies, currency unit or
units or composite currency or currencies in which, and other terms and conditions upon which Securities of or within the series shall be redeemed, repaid or purchased, in whole or in part, pursuant to such obligation; 

(8)  if other than denominations of $1,000 and any integral multiple thereof, the denominations in which any Registered Securities
of or within the series shall be issuable and, if other than the denomination of $5,000, the denomination or denominations in which any Bearer Securities of or within the series shall be issuable; 

(9)  if other than the Trustee, the identity of each Security Registrar and/or Paying Agent; 

(10)  if other than the principal amount thereof, the portion of the principal amount of Securities of or within the series that
shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 502 or, if applicable, the portion of the principal amount of Securities of or within the series that is convertible in accordance with the provisions
of this Indenture, or the method by which such portion shall be determined; 
 (11)  if other than Dollars, the Foreign Currency
or Currencies in which payment of the principal of (and premium or Make-Whole Amount, if any) or interest or Additional Amounts, if any, on the Securities of or within the series shall be payable or in which the Securities of or within the series
shall be denominated; 
 (12)  whether the amount of payments of principal of (and premium or Make-Whole Amount, if any) or
interest, if any, on the Securities of or within the series may be determined with reference to an index, formula or other method (which index, formula or method may be based, without limitation, on one or more currencies, currency units, composite
currencies, commodities, equity indices or other indices), and the manner in which such amounts shall be determined; 

(13)  whether the principal of (and premium or Make-Whole Amount, if any) or interest or Additional Amounts, if any, on the
Securities of or within the series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies, currency unit or units 

  
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or composite currency or currencies other than that in which such Securities are denominated or stated to be payable, the period or periods within which, and the terms and conditions upon which,
such election may be made, and the time and manner of, and identity of the exchange rate agent with responsibility for, determining the exchange rate between the currency or currencies, currency unit or units or composite currency or currencies in
which such Securities are denominated or stated to be payable and the currency or currencies, currency unit or units or composite currency or currencies in which such Securities are to be so payable; 

(14)  provisions, if any, granting special rights to the Holders of Securities of or within the series upon the occurrence of such
events as may be specified; 
 (15)  any deletions from, modifications of or additions to the Events of Default or covenants of
the Company with respect to Securities of or within the series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein; 

(16)  whether Securities of or within the series are to be issuable as Registered Securities, Bearer Securities (with or without
coupons) or both, any restrictions applicable to the offer, sale or delivery of Bearer Securities and the terms upon which Bearer Securities of or within the series may be exchanged for Registered Securities of or within the series and vice versa
(if permitted by applicable laws and regulations), whether any Securities of or within the series are to be issuable initially in temporary global form and whether any Securities of or within the series are to be issuable in permanent global form
(with or without coupons) and, if so, whether beneficial owners of interests in any such permanent global Security may exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the
circumstances under which any such exchanges may occur, if other than in the manner provided in Section 305, and, if Registered Securities of or within the series are to be issuable as a global Security, the identity of the depository for such
series; 
 (17)  the date as of which any Bearer Securities of or within the series and any temporary global Security representing
Outstanding Securities of or within the series shall be dated if other than the date of original issuance of the first Security of the series to be issued; 

(18)  the Person to whom any interest on any Registered Security of the series shall be payable, if other than the Person in whose
name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, the manner in which, or the Person to whom, any interest on any Bearer Security of the series shall be
payable, if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest payable on a temporary global Security on an Interest Payment Date
will be paid if other than in the manner provided in Section 304; 
 (19)  the applicability, if any, of Sections 1402 and/or
1403 to the Securities of or within the series and any provisions in modification of, in addition to or in lieu of any of the provisions of Article Fourteen; 

  
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 (20)  if the Securities of such series are to be issuable in definitive form (whether
upon original issue or upon exchange of a temporary Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and/or terms of such certificates, documents or conditions;

 (21)  whether and under what circumstances the Company will pay Additional Amounts as contemplated by Section 1011 on the
Securities of or within the series to any Holder who is not a United States person (including any modification to the definition of such term) in respect of any tax, assessment or governmental charge and, if so, whether the Company will have the
option to redeem such Securities rather than pay such Additional Amounts (and the terms of any such option); 
 (22)  the
obligation, if any, of the Company to permit the Securities of such series to be converted into or exchanged for Common Stock of the Company or other securities or property of the Company and the terms and conditions upon which such conversion or
exchange shall be effected (including, without limitation, the initial conversion price or rate, the conversion or exchange period, any adjustment of the applicable conversion or exchange price or rate and any requirements relative to the
reservation of such shares for purposes of conversion or exchange); 
 (23)  if convertible or exchangeable, any applicable
limitations on the ownership or transferability of the securities or property into which such Securities are convertible or exchangeable; and 

(24)  any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture except as permitted
by Section 905). 
 All Securities of any one series and the coupons appertaining to any Bearer Securities of such series, if any,
shall be substantially identical except, in the case of Registered or Bearer Securities issued in global form, as to denomination and except as may otherwise be provided in or pursuant to such Board Resolution or in any indenture supplemental
hereto. All Securities of any one series need not be issued at the same time and, unless otherwise provided, a series may be reopened, without the consent of the Holders, for issuances of additional Securities of such series. 

If any of the terms of the Securities of any series are established by action taken pursuant to one or more Board Resolutions, a copy of an
appropriate record of such action(s) shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order for authentication and delivery of such Securities. 

SECTION 302.  Denominations. 

The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 301. With respect
to Securities of any series denominated in Dollars, in the absence of any such provisions with respect to the Securities of any series, the Registered Securities of such series, other than Registered Securities issued in global form (which may be of
any denomination), shall be issuable in denominations of $1,000 and any integral multiple thereof. 

  
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 SECTION 303.  Execution, Authentication, Delivery and Dating. 

The Securities and any coupons appertaining thereto shall be executed on behalf of the Company by its President or a Vice President. The
signature of any of these officers on the Securities and coupons may be manual or facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the Securities. 

Securities or coupons appertaining thereto bearing the manual or facsimile signatures of individuals who were at any time the proper officers
of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities or
coupons. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any
series, together with any coupon appertaining thereto, executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities; provided, however, that, in connection with its original issuance, no Bearer Security shall be mailed or otherwise delivered by the Company to any location in the United States; and provided
further that, unless otherwise specified with respect to any series of Securities pursuant to Section 301 a Bearer Security may be delivered in connection with its original issuance only if the Person entitled to receive such Bearer Security
shall have furnished a certificate to Euroclear or Clearstream, as the case may be, in the form set forth in Exhibit A-1 to this Indenture or such other certificate as may be specified with respect to any series of Securities pursuant to
Section 301, dated no earlier than 15 days prior to the earlier of the date on which such Bearer Security is delivered and the date on which any temporary Security first becomes exchangeable for such Bearer Security in accordance with the terms
of such temporary Security and this Indenture. 
 If all of the Securities of any series are not to be issued at one time and if the Board
Resolution or supplemental indenture establishing such series shall so permit, such Company Order may set forth procedures acceptable to the Trustee for the issuance of such Securities and determining the terms of particular Securities of such
series, such as interest rate or formula, maturity date, date of issuance and date from which interest shall accrue. In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section 612 and TIA Section 315(a) through 315(d)) shall be fully protected in conclusively relying upon: 

(i)  an Opinion of Counsel complying with Section 102 and stating that: 

(a)  the form or forms of such Securities and any coupons have been, or will have been upon compliance with such
procedures as may be specified therein, established in conformity with the provisions of this Indenture; 

(b)  the terms of such Securities and any coupons have been, or will have been upon compliance with such procedures
as may be specified therein, established in conformity with the provisions of this Indenture; and 

  
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 (c)  such Securities, together with any coupons appertaining thereto,
when completed pursuant to such procedures as may be specified therein, and executed and delivered by the Company to the Trustee for authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this
Indenture and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute legal, valid and binding obligations of the Company, enforceable in accordance with their terms, subject to
applicable bankruptcy, insolvency, reorganization and other similar laws of general applicability relating to or affecting the enforcement of creditors’ rights generally and to general equitable principles and to such other matters as may be
specified therein; and 
 (ii)  an Officers’ Certificate complying with Section 102 and stating that all conditions
precedent provided for in this Indenture relating to the issuance of such Securities have been, or will have been upon compliance with such procedures as may be specified therein, complied with and that, to the best of the knowledge of the signers
of such certificate, no Event of Default with respect to such Securities shall have occurred and be continuing. 
 Notwithstanding the
provisions of Section 301 and of the preceding paragraph, if all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver a Company Order, an Opinion of Counsel or an Officers’ Certificate
otherwise required pursuant to the preceding paragraph at the time of issuance of each Security of such series, but such order, opinion and certificate, with appropriate modifications to cover such future issuances, shall be delivered at or before
the time of issuance of the first Security of such series. 
 The Trustee shall not be required to authenticate such Securities if the issue
of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties, obligations or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

Each Registered Security shall be dated the date of its authentication and each Bearer Security shall be dated as of the date specified as
contemplated by Section 301. 
 No Security or coupon appertaining thereto shall be entitled to any benefit under this Indenture or be
valid or obligatory for any purpose unless there appears on such Security or the Security to which such coupon appertains a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature
of an authorized signatory, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.
Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in
Section 309 together with a written statement (which need not comply with Section 102 and need not be accompanied by an Opinion of Counsel, provided that the Trustee received an Opinion of Counsel at the time of authentication of such
Security as required hereunder) stating that such Security has never been issued or sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be
entitled to the benefits of this Indenture. 

  
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 SECTION 304.  Temporary Securities. 

(a)  Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order
the Trustee shall authenticate and deliver, temporary Securities that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of
which they are issued, in registered form, or, if authorized, in bearer form with one or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions and other variations as the officers of the Company executing
such Securities may determine, as conclusively evidenced by their execution of such Securities. In the case of Securities of any series, such temporary Securities may be in global form. 

Except in the case of temporary Securities in global form (which shall be exchanged in accordance with Section 304(b) or as otherwise
provided in or pursuant to a Board Resolution), if temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities
of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that
series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series (accompanied by any non-matured coupons appertaining thereto), the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations; provided, however, that no definitive Bearer Security shall be delivered in exchange for a temporary Registered
Security; and provided further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in Section 303. Until so exchanged, the temporary Securities of any
series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 
 (b) Unless
otherwise provided as contemplated in Section 301, this Section 304(b) shall govern the exchange of temporary Securities issued in global form other than through the facilities of DTC. If any such temporary Security is issued in global
form, then such temporary global Security shall, unless otherwise provided therein, be delivered to the London, England office of a depository or common depository (the “Common Depository”), for the benefit of Euroclear and Clearstream.

 Without unnecessary delay but in any event not later than the date specified in, or determined pursuant to the terms of, any such
temporary global Security (the “Exchange Date”), the Company shall deliver to the Trustee definitive Securities, in an aggregate principal amount equal to the principal amount of such temporary global Security, executed by the Company. On
or after the Exchange Date, such temporary global Security shall be surrendered by the Common Depository to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or from time to time in part, for definitive Securities
without charge, and the Trustee shall authenticate and deliver, in exchange for each portion of such temporary global Security, an equal aggregate principal amount of definitive Securities of or within the same series of authorized denominations and
of like tenor as the portion of such temporary global Security to be 

  
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exchanged. The definitive Securities to be delivered in exchange for any such temporary global Security shall be in bearer form, registered form, permanent global bearer form or permanent global
registered form, or any combination thereof, as specified as contemplated by Section 301, and, if any combination thereof is so specified, as requested by the beneficial owner thereof; provided, however, that, unless otherwise specified in such
temporary global Security, upon such presentation by the Common Depository, such temporary global Security is accompanied by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear as to the portion of such temporary
global Security, if any, held for its account then to be exchanged and a certificate dated the Exchange Date or a subsequent date and signed by Euroclear or Clearstream as to the portion of such temporary global Security, if any, held for its
account then to be exchanged, each in the form set forth in Exhibit A-2 to this Indenture or in such other form as may be established pursuant to Section 301; and provided further that definitive Bearer Securities shall be delivered in exchange
for a portion of a temporary global Security only in compliance with the requirements of Section 303. 
 Unless otherwise specified in
such temporary global Security, the interest of a beneficial owner of Securities of a series in a temporary global Security shall be exchanged for definitive Securities of the same series and of like tenor following the Exchange Date when the
account holder instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in Exhibit A-1 to this Indenture (or in
such other form as may be established pursuant to Section 301), dated no earlier than 15 days prior to the Exchange Date, copies of which certificate shall be available from the offices of Euroclear or Clearstream, the Trustee, any
Authenticating Agent appointed for such series of Securities and each Paying Agent. Unless otherwise specified in such temporary global Security, any such exchange shall be made free of charge to the beneficial owners of such temporary global
Security, except that a Person receiving definitive Securities must bear the cost of insurance, postage, transportation and the like unless such Person takes delivery of such definitive Securities in person at the offices of Euroclear or
Clearstream. Definitive Securities in bearer form to be delivered in exchange for any portion of a temporary global Security shall be delivered by the Company only outside the United States. 

Until exchanged in full as hereinabove provided, the temporary Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of the same series and of like tenor authenticated and delivered hereunder, except that, unless otherwise specified as contemplated by Section 301, interest payable on a temporary global Security on
an Interest Payment Date for Securities of such series occurring prior to the applicable Exchange Date shall be payable to Euroclear or Clearstream on such Interest Payment Date upon delivery by Euroclear or Clearstream to the Trustee of a
certificate or certificates in the form set forth in Exhibit A-2 to this Indenture (or in such other forms as may be established pursuant to Section 301), for credit without further interest on or after such Interest Payment Date to the
respective accounts of Persons who are the beneficial owners of such temporary global Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as the case may be, a certificate dated no earlier than 15 days
prior to the Interest Payment Date occurring prior to such Exchange Date in the form set forth as Exhibit A-1 to this Indenture (or in such other forms as may be established pursuant to Section 301). Notwithstanding anything to the contrary
herein contained, the certifications made pursuant to this paragraph shall satisfy the certification requirements of the preceding two paragraphs of this 

  
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Section 304(b) and of the third paragraph of Section 303 of this Indenture and the interests of the Persons who are the beneficial owners of the temporary global Security with respect
to which such certification was made will be exchanged for definitive Securities of the same series and of like tenor on the Exchange Date or the date of certification if such date occurs after the Exchange Date, without further act or deed by such
beneficial owners. Except as otherwise provided in this paragraph, no payments of principal or interest owing with respect to a beneficial interest in a temporary global Security will be made unless and until such interest in such temporary global
Security shall have been exchanged for an interest in a definitive Security. Any interest so received by Euroclear or Clearstream and not paid as herein provided shall be returned to the Trustee prior to the expiration of two years after such
Interest Payment Date in order to be repaid to the Company. 
 SECTION 305.  Registration, Registration of Transfer and Exchange.

 The Company shall cause to be kept at the Corporate Trust Office of the Trustee or in any office or agency of the Company in a Place of
Payment a register for each series of Securities (the registers maintained in such office or in any such office or agency of the Company in a Place of Payment being herein sometimes referred to collectively as the “Security Register”) in
which, subject to such reasonable regulations as it or the Security Registrar may prescribe, the Company shall provide for the registration of Registered Securities and of transfers of Registered Securities. The Security Register shall be in written
form or any other form capable of being converted into written form within a reasonable time. The Trustee, at its Corporate Trust Office, is hereby initially appointed “Security Registrar” for the purpose of registering Registered
Securities and transfers of Registered Securities on such Security Register as herein provided. In the event that the Trustee shall cease to be Security Registrar, it shall have the right to examine the Security Register at all reasonable times and
to require that a copy of the Security Register in written form be delivered to it from time to time as reasonably requested. Subject to the provisions of this Section 305, upon surrender for registration of transfer of any Registered Security
of any series at any office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new
Registered Securities of the same series, of any authorized denominations and of a like aggregate principal amount, bearing a number not contemporaneously outstanding, and containing identical terms and provisions. 

Subject to the provisions of this Section 305, at the option of the Holder, Registered Securities of any series may be exchanged for
other Registered Securities of the same series, of any authorized denomination or denominations and of a like aggregate principal amount, containing identical terms and provisions, upon surrender of the Registered Securities to be exchanged at any
such office or agency. Whenever any such Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities that the Holder making the exchange is entitled to
receive. Unless otherwise specified with respect to any series of Securities as contemplated by Section 301, Bearer Securities may not be issued in exchange for Registered Securities. 

If (but only if) permitted as contemplated by Section 301, at the option of the Holder, Bearer Securities of any series may be exchanged
for Registered Securities of the same series of any authorized denominations and of a like aggregate principal amount and tenor, upon surrender 

  
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of the Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all matured coupons in default thereto appertaining. If the Holder of a Bearer Security is
unable to produce any such unmatured coupon or coupons or matured coupon or coupons in default, any such permitted exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company in an amount equal to
the face amount of such missing coupon or coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of them and
any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of which such a payment shall have been made, such Holder shall be entitled to receive the amount of such
payment; provided, however, that, except as otherwise provided in Section 1002, interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or agency located outside the United States.
Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such office or agency in a permitted exchange for a Registered Security of the same series and like tenor after the close of business at such office or
agency on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date or proposed date for payment, as the case may be, and interest or Defaulted Interest, as the
case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon
when due in accordance with the provisions of this Indenture. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities that the holder making the exchange is
entitled to receive. 
 Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 301, any permanent
global Security shall be exchangeable only as provided in this paragraph. If the depository for any permanent global Security is DTC, then, unless the terms of such global Security expressly permit such global Security to be exchanged in whole or in
part for definitive Securities, a global Security may be transferred, in whole but not in part, only to a nominee of DTC, or by a nominee of DTC to DTC, or to a successor to DTC for such global Security selected or approved by the Company or to a
nominee of such successor to DTC. If at any time DTC notifies the Company that it is unwilling or unable to continue as depository for the applicable global Security or Securities or if at any time DTC ceases to be a clearing agency registered under
the Exchange Act if so required by applicable law or regulation, the Company shall appoint a successor depository with respect to such global Security or Securities. If (x) a successor depository for such global Security or Securities is not
appointed by the Company within 90 days after the Company receives such notice or becomes aware of such unwillingness, inability or ineligibility, (y) an Event of Default has occurred and is continuing and the beneficial owners representing a
majority in principal amount of the applicable series of Securities represented by such global Security or Securities advise DTC to cease acting as depository for such global Security or Securities or (z) the Company, in its sole discretion,
determines at any time that all Outstanding Securities (but not less than all) of any series issued or issuable in the form of one or more global Securities shall no longer be represented by such global Security or

  
 27 

 
Securities (provided, however, the Company may not make such determination during the 40-day restricted period provided by Regulation S under the Securities Act or during any other similar period
during which the Securities must be held in global form as may be required by the Securities Act), then the Company shall execute, and the Trustee shall authenticate and deliver definitive Securities of like series, rank, tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount of such global Security or Securities. If any beneficial owner of an interest in a permanent global Security is otherwise entitled to exchange such an interest for
Securities of such series and of like tenor and principal amount of another authorized form and denomination, as specified as contemplated by Section 301 and provided that any applicable notice provided in the permanent global Security shall
have been given, then without unnecessary delay but in any event not later than the earliest date on which such interest may be so exchanged, the Company shall execute, and the Trustee shall authenticate and deliver definitive Securities in
aggregate principal amount equal to the principal amount of such beneficial owner’s interest in such permanent global Security. On or after the earliest date on which such interests may be so exchanged, such permanent global Security shall be
surrendered for exchange by DTC or such other depository as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose; provided, however, that no such exchanges may occur during a
period beginning at the opening of business 15 days before any selection of Securities to be redeemed and ending on the relevant Redemption Date if the Security for which exchange is requested may be among those selected for redemption; and provided
further that no Bearer Security delivered in exchange for a portion of a permanent global Security shall be mailed or otherwise delivered to any location in the United States. If a Registered Security is issued in exchange for any portion of a
permanent global Security after the close of business at the office or agency where such exchange occurs on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or
(ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be payable on such Interest
Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect
of such portion of such permanent global Security is payable in accordance with the provisions of this Indenture. 
 All Securities issued
upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of
transfer or exchange. 
 Every Registered Security presented or surrendered for registration of transfer or for exchange or redemption shall
(if so required by the Company or the Security Registrar) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in
writing. 
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or 

  
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exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer. 

The Company or the Trustee, as applicable, shall not be required (i) to issue, register the transfer of or exchange any Security if such
Security may be among those selected for redemption during a period beginning at the opening of business 15 days before selection of the Securities to be redeemed under Section 1103 and ending at the close of business on (A) if such
Securities are issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B) if such Securities are issuable as Bearer Securities, the day of the first publication of the relevant notice of
redemption or, if such Securities are also issuable as Registered Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii) to register the transfer of or exchange any Registered Security so selected for
redemption in whole or in part, except, in the case of any Registered Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption except that such a Bearer
Security may be exchanged for a Registered Security of that series and like tenor, provided that such Registered Security shall be simultaneously surrendered for redemption, or (iv) to issue or to register the transfer or exchange of any
Security that has been surrendered for repayment, except the portion, if any, of such Security not to be so repaid. 
 SECTION
306.  Mutilated, Destroyed, Lost and Stolen Securities. 
 If any mutilated Security or a Security with a mutilated coupon
appertaining to it is surrendered to the Trustee or the Company, together with such security or indemnity as may be required by the Company or the Trustee to save each of them or any agent of either of them harmless, the Company shall execute and
the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and principal amount, containing identical terms and provisions and bearing a number not contemporaneously outstanding, with coupons corresponding to
the coupons, if any, appertaining to the surrendered Security. 
 If there shall be delivered to the Company and to the Trustee
(i) evidence to their satisfaction of the destruction, loss or theft of any Security or coupon, and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the
absence of actual notice to the Company or the Trustee that such Security or coupon has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed,
lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and principal amount, containing identical
terms and provisions and bearing a number not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon
appertains. 
 Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security
or coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, with coupons corresponding to coupons, if any, appertaining to such destroyed, lost or stolen Security or to the

  
 29 

 
Security to which such destroyed, lost or stolen coupon appertains, pay such Security or coupon; provided, however, that payment of principal of (and premium or Make-Whole Amount, if any), any
interest on and any Additional Amounts with respect to Bearer Securities shall, except as otherwise provided in Section 1002, be payable only at an office or agency located outside the United States and, unless otherwise specified as
contemplated by Section 301, any interest on Bearer Securities shall be payable only upon presentation and surrender of the coupons appertaining thereto. 

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

Every new Security of any series with its coupons, if any, issued pursuant to this Section in lieu of any destroyed, lost or stolen Security,
or in exchange for a Security to which a destroyed, lost or stolen coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security and its coupons, if any, or
the destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series and their coupons, if any, duly
issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons. 
 SECTION 307.  Payment
of Interest; Interest Rights Preserved. 
 Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 301, interest on any Registered Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however, that each installment of interest on
any Registered Security may at the Company’s option be paid by (i) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as it
appears on the Security Register or (ii) transfer to an account maintained by the payee located inside the United States. 
 Unless
otherwise provided as contemplated by Section 301 with respect to the Securities of any series, payment of interest may be made, in the case of a Bearer Security, by transfer to an account maintained by the payee with a bank located outside the
United States. 
 Unless otherwise provided as contemplated by Section 301, every permanent global Security will provide that interest,
if any, payable on any Interest Payment Date will be paid to DTC, Euroclear and/or Clearstream, as the case may be, with respect to that portion of such permanent global Security held for its account by DTC, Euroclear or Clearstream, as the case

  
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may be, for the purpose of permitting such party to credit the interest received by it in respect of such permanent global Security to the accounts of the beneficial owners thereof. 

In case a Bearer Security of any series is surrendered in exchange for a Registered Security of such series after the close of business (at an
office or agency in a Place of Payment for such series) on any Regular Record Date and before the opening of business (at such office or agency) on the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the
coupon relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon
when due in accordance with the provisions of this Indenture. 
 Except as otherwise specified with respect to a series of Securities in
accordance with the provisions of Section 301, any interest on any Registered Security of any series that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in
clause (1) or (2) below: 
 (1)  The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner.
The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment (which shall not be less than 20 days after such notice is
received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series) equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record
date (herein called a “Special Record Date”) for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by
the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor to be mailed, first-class postage prepaid (or to the extent permitted by applicable procedures or regulations, electronically delivered), to each Holder of Registered Securities of such series at such
Holder’s address as it appears in the Security Register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid,
such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2). In case a Bearer Security of any series is surrendered at the office or 

  
 31 

 
agency in a Place of Payment for such series in exchange for a Registered Security of such series after the close of business at such office or agency on any Special Record Date and before the
opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date of payment and Defaulted Interest will not be
payable on such proposed date of payment in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. 

(2)  The Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful manner
not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after written notice given by the Company to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this
Section and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security. 
 Subject to the provisions of Section 1402 and except as otherwise specified with respect to a series of
Securities in accordance with the provisions of Section 301, in the case of any Security that is converted or exchanged after any Regular Record Date and on or prior to the next succeeding Interest Payment Date (other than any Security, the
principal of (or premium, if any, on) which shall become due and payable, whether at a Stated Maturity or by declaration of acceleration, call for redemption, or otherwise, prior to such Interest Payment Date), interest whose Stated Maturity is on
such Interest Payment Date shall be payable on such Interest Payment Date notwithstanding such conversion or exchange, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security
(or one or more Predecessor Securities) is registered at the close of business on such Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted or exchanged,
interest whose Stated Maturity is after the date of conversion or exchange of such Security shall not be payable. 
 SECTION
308.  Persons Deemed Owners. 
 Prior to due presentment of a Registered Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium or Make-Whole Amount, if
any), and (subject to Sections 305 and 307) interest on, such Registered Security and for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the
Trustee shall be affected by notice to the contrary. 
 Title to any Bearer Security and any coupons appertaining thereto shall pass by
delivery. The Company, the Trustee and any agent of the Company or the Trustee may treat the Holder of 

  
 32 

 
any Bearer Security and the Holder of any coupon as the absolute owner of such Security or coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes
whatsoever, whether or not such Security or coupon be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

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

Notwithstanding the foregoing, with respect to any global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the
Company or the Trustee, from giving effect to any written certification, proxy or other authorization furnished by any depository, as a Holder, with respect to such global Security or impair, as between such depository and owners of beneficial
interests in such global Security, the operation of customary practices governing the exercise of the rights of such depository (or its nominee) as Holder of such global Security. 

SECTION 309.  Cancellation. 

All Securities and coupons surrendered for payment, redemption, repayment, registration of transfer or exchange or for credit against any
sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly
canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to
any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder that the Company has not issued and sold, and all Securities so delivered shall be promptly canceled by the Trustee. If the Company
shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No
Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons held by the Trustee shall be destroyed by the
Trustee and, if required in writing by the Company, the Trustee shall deliver a certificate of such destruction to the Company, unless by a Company Order the Company directs their return to it. 

SECTION 310.  Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 with respect to Securities of any series, interest on the Securities of each
series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 

  
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 SECTION 401.  Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request cease to be of further effect with respect to any series of Securities specified in such Company
Request (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for and any right to receive Additional Amounts, as provided in Section 1011), and the Trustee, upon
receipt of a Company Order, and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series when 

(1)  either 

(A)  all Securities of such series theretofore authenticated and delivered and all coupons, if any, appertaining thereto (other
than (i) coupons appertaining to Bearer Securities surrendered for exchange for Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section 305, (ii) Securities and
coupons of such series that have been destroyed, lost or stolen and that have been replaced or paid as provided in Section 306, (iii) coupons appertaining to Securities called for redemption and maturing after the relevant Redemption Date,
whose surrender has been waived as provided in Section 1106, and (iv) Securities and coupons of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter
repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

(B)  all Securities of such series and, in the case of (i) or (ii) below, any coupons appertaining thereto not
theretofore delivered to the Trustee for cancellation 
 (i)  have become due and payable, or 

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

(iii)  if redeemable at the option of the Company, 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 irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount in the currency or currencies, currency unit or units or composite
currency or currencies in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such Securities and such coupons not theretofore delivered to the Trustee for cancellation, for principal (and
premium or Make-Whole Amount, if any) and interest, and any Additional Amounts with respect thereto, to the date of such deposit (in the case of Securities that have become due and payable) or the Stated Maturity or Redemption Date, as the case may
be; 
 (2)  The Company has paid or caused to be paid all or other sums payable hereunder by the Company; and 

  
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 (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 as to such series have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee and any predecessor Trustee
under Section 606, the obligations of the Company to any Authenticating Agent under Section 611 and, if money shall have been deposited with and held by the Trustee pursuant to subclause (B) of clause (1) of this Section, the
obligations of the Trustee under Section 402 and the last paragraph of Section 1003, shall survive. 
 In the event that there are
Securities of two or more series outstanding hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of a particular series as
to which it is Trustee and if the other conditions thereto are met. 
 SECTION 402.  Application of Trust Funds. 

Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall
be held in trust and applied by it, in accordance with the provisions of the Securities, the coupons 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 or Make-Whole Amount, if any), and any interest and Additional Amounts for whose payment such money has been deposited with or received by the Trustee, but such
money need not be segregated from other funds except to the extent required by law. Money deposited pursuant to Section 401 not in violation of this Indenture shall not be subject to claims of holders of Senior Debt under Article Seventeen.

 ARTICLE FIVE 
 REMEDIES 

SECTION 501.  Events of Default. 

Subject to any modifications, additions or deletions relating to any series of Securities as contemplated pursuant to Section 301, “Event of
Default,” wherever used herein with respect to any particular series of Securities, means any one of the following events (whatever the reason for such Event of Default and whether or not it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1)  default in the payment of any interest upon or any Additional Amounts payable in respect of any Security of or
within that series or of any coupon appertaining thereto, when such interest, Additional Amounts or coupon becomes due and payable, and continuance of such default for a period of 30 days; or 

  
 35 

 (2)  default in the payment of the principal of (or premium or
Make-Whole Amount, if any, on) any Security of that series when it becomes due and payable at its Maturity; or 

(3)  default in the deposit of any sinking fund payment, when and as due by the terms of any Security of that
series; or 
 (4)  failure on the part of the Company duly to observe or perform any other of the covenants or
agreements on the part of the Company in the Securities of such series or in this Indenture with respect to any Security of such series, and continuance of such failure for a period of 90 days after the date on which written notice of such failure,
requiring the Company to remedy the same, shall have been given to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Securities of all series affected thereby specifying
such default or breach; or 
 (5)  the Company pursuant to or within the meaning of any Bankruptcy Law: 

(A)  commences a voluntary case, 

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

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

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

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

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

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

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

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

As used in this Section 501, the term “Bankruptcy Law” means Title 11, U.S. Code or any similar Federal or state law for the
relief of debtors and the term “Custodian” means any receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 

SECTION 502.  Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default under clause (5) or (6) of Section 501 with respect to Securities of any series at the time Outstanding
occurs and is continuing, then and in each such case either the 

  
 36 

 
Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of each such affected series (voting as a single class) may declare the principal (or, if
any Securities are Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be specified in the terms thereof) of, and the Make-Whole Amount, if any, on, all the Securities of that series to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal or specified portion thereof shall become immediately due and payable. 

At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree
for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may
rescind and annul such declaration and its consequences if: 
 (1)  the Company has paid or deposited with the
Trustee a sum sufficient to pay in the currency, currency unit or composite currency in which the Securities of such series is payable (except as otherwise specified pursuant to Section 301 for the Securities of such series): 

(A)  all overdue installments of interest on and any Additional Amounts payable in respect of all Outstanding
Securities of that series and any related coupons; 
 (B)  the principal of (and premium or Make-Whole Amount, if
any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates borne by or provided for in such Securities; 

(C)  to the extent that payment of such interest is lawful, interest upon overdue installments of interest and any
Additional Amounts at the rate or rates borne by or provided for in such Securities; and 
 (D)  all sums paid or
advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 

(2)  all Events of Default with respect to Securities of that series, other than the nonpayment of the principal of
(or premium or Make-Whole Amount, if any) or interest on Securities of that series that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

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

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

The Company covenants that if: 

  
 37 

 (1) default is made in the payment of any installment of interest or Additional Amounts, if any,
on any Security of any series and any related coupon when such interest or Additional Amount becomes due and payable and such default continues for a period of 30 days, or 

(2) default is made in the payment of the principal of (or premium or Make-Whole Amount, if any, on) any Security of any series at its
Maturity, then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities of such series and coupons, the whole amount then due and payable on such Securities and coupons for principal (and
premium or Make-Whole Amount, if any) and interest and Additional Amounts, with interest upon any overdue principal (and premium or Make-Whole Amount, if any) and, to the extent that payment of such interest shall be legally enforceable, upon any
overdue installments of interest or Additional Amounts, if any, at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails
to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or
final decree, and may enforce the same against the Company or any other obligor upon such Securities of such series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any
other obligor upon such Securities of such series, wherever situated. 
 If an Event of Default with respect to Securities of any series
occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any related coupons by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

SECTION 504.  Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities of any series
shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal, premium or Make-Whole Amount, if any, or
interest) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (i) to file and prove a claim for the whole
amount, or such lesser amount as may be provided for in the Securities of such series, of principal (and premium or Make-Whole Amount, if any) and interest and Additional Amounts, if any, owing and unpaid in respect of the Securities and to file
such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, 

  
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disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by
each Holder of Securities of such series and coupons 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 and any predecessor Trustee, their agents and counsel, and any other amounts due the Trustee or any predecessor Trustee hereunder. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of a
Security or coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a Security or
coupon in any such proceeding. 
 SECTION 505.  Trustee May Enforce Claims Without Possession of Securities or Coupons. 

All rights of action and claims under this Indenture or any of the Securities or coupons may be prosecuted and enforced by the Trustee without
the possession of any of the Securities or coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities and coupons in respect of which
such judgment has been recovered. 
 SECTION 506.  Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal (or premium or Make-Whole Amount, if any) or interest and any Additional Amounts, upon presentation of the Securities or coupons, or both, as the case may be, and the notation
thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST:  To the payment of all amounts
due the Trustee (acting in any capacity hereunder) and any predecessor Trustee hereunder, 
 SECOND:  To the payment of the
amounts then due and unpaid upon the Securities and coupons for principal (and premium or Make-Whole Amount, if any) and interest and any Additional Amounts payable, in respect of which or for the benefit of which such money has been collected,
ratably, without preference or priority of any kind, according to the aggregate 

  
 39 

 
amounts due and payable on such Securities and coupons for principal (and premium or Make-Whole Amount, if any), interest and Additional Amounts, respectively, and 

THIRD:  To the payment of the remainder, if any, to the Company. 

SECTION 507.  Limitation on Suits. 

No Holder of any Security of any series or any related coupon shall have any right to institute any suit, action or proceeding in equity or at
law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy under this Indenture, unless such holder previously shall have given to the Trustee written notice of default and of the
continuance thereof and unless also: 
  

	 	—	 	the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of that series shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name
as Trustee hereunder and shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request; 

 

	 	—	 	the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have neglected or refused to institute any such action, suit or proceeding; and 

 

	 	—	 	no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series;

 it being understood and intended, and being expressly covenanted by each person who acquires and holds any Security of any
series under this Indenture with every other such person holding a Security under this Indenture, that no one or more Holders of outstanding Securities under this Indenture shall have any right in any manner whatever by virtue of or by availing of
any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder of such Security, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Indenture,
except in the manner provided in this Indenture and for the equal, ratable and common benefit of all Holders of such Security. 
 SECTION
508.  Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, Interest and Additional Amounts. 

Notwithstanding any other provision in this Indenture, the Holder of any Security or coupon shall have the right, which is absolute and
unconditional, to receive payment of the principal of (and premium or Make-Whole Amount, if any) and (subject to Sections 305 and 307) interest on, and any Additional Amounts in respect of, such Security or payment of such coupon on the respective
due dates expressed in such Security or coupon (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

  
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 SECTION 509.  Restoration of Rights and Remedies. 

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

 SECTION 510.  Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons in the
last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities or coupons is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 SECTION 511.  Delay or Omission
Not Waiver. 
 No delay or omission of the Trustee or of any Holder of any Security or coupon to exercise any right or remedy accruing upon
any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or any acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from
time to time, and as often as may be deemed expedient, by the Trustee or by the Holders of Securities or coupons, as the case may be. 

SECTION 512.  Control by Holders of Securities. 

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

(1)  such direction shall not be in conflict with any rule of law or with this Indenture, 

(2)  the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction, and 

(3)  the Trustee need not take any action that might involve it in personal liability or be unduly prejudicial to the Holders of
Securities of such series not joining therein (but the Trustee shall have no obligation as to the determination of such undue prejudice). 

SECTION 513.  Waiver of Past Defaults. 

  
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 The Holders of not less than a majority in principal amount of the Outstanding Securities of any
series may on behalf of the Holders of all the Securities of such series and any related coupons consent to the waiver of any past default hereunder with respect to such series and its consequences, except a default 

(1)  in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on or Additional Amounts payable in
respect of any Security of such series or any related coupons, or 
 (2)  in respect of a covenant or provision hereof which under
Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon
any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of
Default or impair any right consequent thereon. 
 SECTION 514.  Waiver of Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted. 
 SECTION 515.  Undertaking for Costs. 

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

  
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 ARTICLE SIX 

THE TRUSTEE 
 SECTION
601.  Notice of Defaults. 
 Within 90 days after the occurrence of any default hereunder with respect to the Securities of any
series, the Trustee shall transmit in the manner and to the extent provided in TIA Section 313(c), notice of such default hereunder actually known to a Responsible Officer of the Trustee, unless such default shall have been cured or waived;
provided, however, that, except in the case of a default in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on or any Additional Amounts with respect to any Security of such series, or in the payment of any
sinking fund installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in
the interests of the Holders of the Securities and coupons of such series; and provided further that in the case of any default or breach of the character specified in Section 501(4) with respect to the Securities and coupons of such series, no
such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event that is, or after notice or lapse of time or both would become, an Event of
Default with respect to the Securities of such series. 
 SECTION 602.  Certain Rights of Trustee. 

Subject to the provisions of TIA Section 315(a) through 315(d): 

(1)  the Trustee shall perform only such duties as are expressly undertaken by it to perform under this Indenture and no implied
covenants or obligations shall be read into this Indenture against the Trustee; 
 (2)  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, note, coupon or other paper or document believed by
it to be genuine and to have been signed or presented by the proper party or parties; 
 (3)  any request or direction of the
Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order (other than delivery of any Security, together with any coupons appertaining thereto, to the Trustee for authentication and delivery pursuant to
Section 303 that shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

(4)  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 or negligence on its part, rely upon an Officers’ Certificate; 

(5)  the Trustee may consult with counsel and as a condition to the taking, suffering or omission of any action hereunder may demand
an Opinion of Counsel, and the advice of such 

  
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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; 
 (6)  the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture
at the request or direction of any of the Holders of Securities of any series or any related coupons pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the
costs, expenses and liabilities that might be incurred by it in compliance with such request or direction; 
 (7)  the Trustee
shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon 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; 
 (8)  the Trustee may execute any of
the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys, custodians or nominees and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent, attorney,
custodian or nominee appointed with due care by it hereunder; 
 (9)  the Trustee shall not be liable for any action taken,
suffered or omitted by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; provided, however, that the Trustee’s conduct does not constitute willful
misconduct or gross negligence. The Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it
shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to the Trustee against such risk or liability is not reasonably assured to it; 

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

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

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

  
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 (13)  the Trustee shall not be required to give any bond or surety in respect of the
performance of its powers and duties hereunder; and 
 (14)  the Trustee may request that the Company deliver a certificate
setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

SECTION 603.  Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, and in any coupons shall be
taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder. Neither the Trustee nor any Authenticating Agent shall be
accountable for the use or application by the Company of Securities or the proceeds thereof. 
 SECTION 604.  May Hold Securities.

 The Trustee, any Paying Agent, Security Registrar, Authenticating Agent or any other agent of the Company, in its individual or any other
capacity, may become the owner or pledgee of Securities and coupons and, subject to Section 613 and TIA Sections 310(b) and 311, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent,
Security Registrar, Authenticating Agent or such other agent. 
 SECTION 605.  Money Held in Trust. 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall
be under no liability for interest on, or investment of, any money received by it hereunder. 
 SECTION 606.  Compensation and
Reimbursement. 
 The Company agrees: 

(1)  to pay to the Trustee (acting in its any capacity hereunder) from time to time compensation as agreed with the Company in
writing, for all services rendered by it hereunder, including extraordinary services rendered in connection with or during the continuation of a default 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)  to reimburse each of the Trustee (acting in its any capacity hereunder)
and any predecessor Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by it in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements
of its agents and counsel), except to the extent any such expense, disbursement or advance may be attributable to its gross 

  
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negligence or bad faith, as determined by a court of competent jurisdiction in a final non-appealable order; and 

(3)  to indemnify each of the Trustee (acting in its any capacity hereunder) and any predecessor Trustee and each of their
respective directors, officers, agents and employees for, and to hold each of them harmless against, any loss, damages, claims, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income or gain of
the Trustee), arising out of or in connection with the acceptance or administration of the trust or trusts or the performance of its duties hereunder, including the costs and expenses of defending itself against any claim or liability in connection
with the exercise or performance of any of its powers or duties hereunder except to the extent any such loss, liability or expense may be attributable to its own gross negligence or bad faith, as determined by a court of competent jurisdiction in a
final non-appealable order. 
 As security for the performance of the obligations of the Company under this Section, the Trustee shall have
a lien prior to the Securities 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 or Make-Whole Amount, if any) or interest on particular Securities or any
coupons. 
 When the Trustee incurs expenses or renders services in connection with an Event of Default described in Section 501(5) and
(6), such expenses (including the fees and expenses of its counsel) and the compensation for such services are intended to constitute expenses of administration under any Bankruptcy Law. 

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

The Trustee shall have no liability or responsibility for the action or inaction of DTC, Euroclear, Clearstream or any other depository or
clearing system. 
 SECTION 607.  Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder that shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a
combined capital and surplus of at least $50,000,000 or is a subsidiary of a corporation that shall be a Person that has a combined capital and surplus of at least $50,000,000 and that unconditionally guarantees the obligations of the Trustee
hereunder. If such Trustee or Person publishes reports of condition at least annually, pursuant to law or the requirements of Federal, State, Territorial or District of Columbia supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Trustee or Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

SECTION 608.  Resignation and Removal; Appointment of Successor. 

(a)  No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article
shall become effective until the acceptance of 

  
 46 

 
appointment by the successor Trustee in accordance with the applicable requirements of Section 609. 

(b)  The Trustee may resign at any time with respect to the Securities of one or more series by giving written
notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of
competent jurisdiction for the appointment of a successor Trustee. 
 (c)  The Trustee may be removed at any time
with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Trustee and to the Company. 

(d)  If at any time: 

(1)  the Trustee shall fail to comply with the provisions of Section 613 or TIA Section 310(b) after
written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or 

(2)  the Trustee shall cease to be eligible under Section 607 and shall fail to resign after written request
therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or 

(3)  the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of
the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any such case, (i) the
Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (ii) subject to TIA Section 315(e), any Holder of a Security who has been a bona fide Holder of a
Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or
Trustees. 
 (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 Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or
those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be 

  
 47 

 
only one Trustee with respect to the Securities of any particular series). If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor
Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the 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 Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with
respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner hereinafter provided, any Holder of a Security who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. 

(f)  The Company shall give notice of each resignation and each removal of the Trustee with respect to the
Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series in the manner provided for notices to the Holders of Securities in Section 106. Each notice shall include the name of the
successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 
 SECTION
609.  Acceptance of Appointment By Successor. 
 (a)  In case of the appointment hereunder of a
successor Trustee with respect to all Securities, every such successor Trustee shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of
the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on request of the Company or the
successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee, and shall duly assign, transfer and
deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 606. 

(b)  In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but
not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto, pursuant to Article Nine hereof, wherein each successor
Trustee shall accept such appointment and that (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to 

  
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the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the
provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such
Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of
such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring
Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee
relates. The retiring or removed trustee shall have no liability or responsibility for the action or inaction of any successor Trustee. 

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

(d)  No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee
shall be qualified and eligible under this Article. 
 (e)  All monies due and owing to the Trustee shall be paid
before the Successor Trustee takes over. 
 SECTION 610.  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 Securities or coupons shall have been authenticated, but
not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities or coupons so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities or coupons. In case any Securities or coupons shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities or
coupons, in either its own name or that of its predecessor Trustee, with the full force and effect that this Indenture provides for the certificate of authentication of the Trustee. 

  
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 SECTION 611.  Appointment of Authenticating Agent. 

At any time when any of the Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to one or
more series of Securities that shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption or repayment thereof or pursuant to Section 306,
and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Any such appointment shall be evidenced by an instrument in writing
signed by a Responsible Officer of the Trustee, a copy of which instrument shall be promptly furnished to the Company. Wherever reference is made in this Indenture to the authentication and delivery of Securities 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 reasonably acceptable to the Company and, except as may otherwise be provided pursuant to Section 301, 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 or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $25,000,000 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 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, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent for any series of Securities may at any time resign by giving written notice of resignation to the Trustee for such
series and to the Company. The Trustee for any series of Securities 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 for such series may appoint a successor Authenticating Agent that
shall be acceptable to the Company and shall give notice of such appointment to all Holders of Securities of or within the series with respect to which such Authenticating Agent will serve in the manner set forth in Section 106. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor 

  
 50 

 
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 including reimbursement of its
reasonable expenses for its services under this Section. 
 If an appointment with respect to one or more series is made pursuant to this
Section, the Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication substantially in the following form: 

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

 

									
		 		 	                , as Trustee
		 		 	By	  		  	
		 		 	                     as Authenticating Agent
		 		 	By	  		  	
		 		 	                       Authorized Signatory

  
 SECTION 612.  Certain Duties
and Responsibilities. 
 No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to the Trustee against
such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to
the provisions of this Section. 
 SECTION 613.  Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the TIA, the Trustee shall either eliminate such interest or
resign, to the extent and in the manner provided by, and subject to the provisions of, the TIA and this Indenture. To the extent permitted by such Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under
this Indenture with respect to Securities of more than one series. In case an Event of Default shall occur and be continuing, the Trustee shall exercise such of its rights and powers under the applicable Indenture and use the same degree of care and
skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of his own affairs. 
 SECTION
614.  Appointment of Co-Trustee. 

  
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 (a)  Notwithstanding any other provisions of this Indenture, if at any
time in connection with the issuance of Bearer Securities, if any, hereunder, for the purpose of meeting any legal requirement of any jurisdiction in which any part of the trust estate created hereunder may at the time be located with respect to
Bearer Securities, the Trustee shall have the power and may execute and deliver all instruments necessary to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate trustees, of all or any part of the trust
estate created hereunder with respect to Bearer Securities, and to vest in such Person or Persons, in such capacity and for the benefit of the Holders of such Securities, such title to the trust created under this Indenture, or any part hereof, and
subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable as they relate to such Bearer Securities. No co-trustee or separate trustee hereunder shall be
required to meet the terms of eligibility as a successor trustee under Section 608 hereof. 
 (b)  Every such
separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: 

(i)  all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed
upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except to the
extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including
the holding of title to the trust estate created hereunder or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee; 

(ii)  no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee
hereunder; and 
 (iii)  the Trustee may at any time accept the resignation of or remove any separate trustee or
co-trustee. 
 (c)  Any notice, request or other writing given to the Trustee shall be deemed to have been given
to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Article Six. 

(d)  Each such separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with
the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Indenture, specifically including every provision of this Indenture
relating to the conduct of, affecting the liability of, or affording protection 

  
 52 

 
or rights (including the rights to compensation, reimbursement and indemnification hereunder) to, the Trustee. Every such instrument shall be filed with the Trustee. 

ARTICLE SEVEN 
 HOLDERS’
LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION 701.  Disclosure of Names and Addresses of Holders. 

Every Holder of Securities or coupons, 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 Security Registrar nor any director, officer, agent or employee of any of them shall be held accountable by reason of the disclosure of any information as to the names and
addresses of the Holders of Securities or coupons in accordance with TIA Section 312, 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 TIA Section 312(b). 
 SECTION 702.  Reports by Trustee. 

Within 60 days after March 15 of each year commencing with the first March 15 after the first issuance of Securities pursuant to
this Indenture, the Trustee shall transmit by mail to all Holders of Securities as provided in TIA Section 313(c) a brief report dated as of such March 15 if and to the extent required by TIA Section 313(a). 

SECTION 703.  Reports by Company. 

The Company will: 

(1)  file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual
reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such Sections, then it will file with the Trustee and the Commission, in
accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that 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 Commission, in accordance with rules and regulations prescribed from time to time by the
Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 

(3)  transmit by mail (or to the extent permitted by applicable procedures or regulations, deliver electronically) to the Holders of
Securities, within 30 days after the filing thereof with the 

  
 53 

 
Trustee, in the manner and to the extent provided in TIA Section 313(c), such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs
(1) or (2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 
 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). The Trustee shall have no liability or responsibility for the
timing, filing or content of any reports required hereunder other than the reports required under Section 702 hereof. 
 SECTION
704.  Company to Furnish Trustee Names and Addresses of Holders. 
 The Company will furnish or cause to be furnished to the
Trustee: 
 (a)  with respect to each series of Securities, quarterly or semi-annually (as applicable), not later
than 15 days after the Regular Record Date for interest for such series of Securities, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Registered Securities of such series as of such Regular
Record Date, or if there is no Regular Record Date for interest for such series of Securities, semi-annually, upon such dates as are set forth in the Board Resolution or indenture supplemental hereto authorizing such series, and 

(b)  at such other times as the Trustee may request in writing, a list of similar form and content as of a date not
more than 15 days prior to the time such list is furnished. 
 ARTICLE EIGHT 

CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE 

SECTION 801.  Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. 

The Company may consolidate with, or sell, lease or convey all or substantially all of its assets to, or merge with or into any other Person,
provided that in any such case, (i) either the Company shall be the continuing entity, or the successor (if other than the Company) entity shall be a Person organized and existing under the laws of the United States or a State thereof or the
District of Columbia and such successor entity shall expressly assume the due and punctual payment of the principal of (and premium or Make-Whole Amount, if any) and any interest (including all Additional Amounts, if any, payable pursuant to
Section 1011) on all of the Securities, according to their tenor, or as otherwise specified pursuant to Section 301, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be
performed by the Company by supplemental indenture, complying with Article Nine hereof, satisfactory to the Trustee, executed and delivered to the Trustee by such Person 

  
 54 

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

SECTION 802.  Rights and Duties of Successor Corporation. 

In case of any such consolidation, merger, sale, lease or conveyance and upon any such assumption by the successor entity, such successor
entity shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and the predecessor entity, except in the event of a lease, shall be relieved of any further obligation
under this Indenture and the Securities. Such successor entity 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 Securities issuable hereunder that theretofore shall not have been
signed by the Company and delivered to the Trustee; and, upon the order of such successor entity, 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 Securities that previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities that such successor entity thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of
such Securities had been issued at the date of the execution hereof. 
 In case of any such consolidation, merger, sale, lease or
conveyance, such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

SECTION 803.  Officers’ Certificate and Opinion of Counsel. 

Any consolidation, merger, sale, lease or conveyance permitted under Section 801 is also subject to the condition that the Trustee
receive an Officers’ Certificate and an Opinion of Counsel to the effect that any such consolidation, merger, sale, lease or conveyance, and the assumption by any successor entity, complies with the provisions of this Article and that all
conditions precedent herein provided for relating to such transaction have been complied with. 
 ARTICLE NINE 

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

 (1)  to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of
the Company herein and in the Securities contained; or 

  
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 (2)  to add to the covenants of the Company for the benefit of the Holders of all or
any series of Securities (and, if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power
herein conferred upon the Company; or 
 (3)  to add any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such Events of Default are to be for the benefit of less than all series of Securities, stating that such Events of Default are expressly being included solely for the benefit of such series); provided, however, that in
respect of any such additional Events of Default such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an
immediate enforcement upon such default or may limit the remedies available to the Trustee upon such default or may limit the right of the Holders of a majority in aggregate principal amount of that or those series of Securities to which such
additional Events of Default apply to waive such default; or 
 (4)  to add to or change any of the provisions of this Indenture
to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions on the payment of principal of or any premium, Make-Whole Amount or Interest on Bearer Securities, to permit Bearer Securities to be issued
in exchange for Registered Securities, to permit Bearer Securities to be issued in exchange for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form, provided that any such
action shall not adversely affect the interests of the Holders of Securities of any series or any related coupons in any material respect as determined in good faith by the Board of Directors; or 

(5)  to add to, change or eliminate any of the provisions of this Indenture in respect of any series of Securities, provided that
any such addition, change or elimination shall (i) neither (A) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision, nor (B) modify the rights
of the Holder of any such Security with respect to such provision; or (ii) become effective only when there is no Security Outstanding; or 

(6)  to secure the Securities; or 

(7)  to establish the form or terms of Securities of any series and any related coupons as permitted by Sections 201 and 301,
including the provisions and procedures relating to Securities convertible into or exchangeable for other securities or property of the Company; or 

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

(9)  to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other
provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture that shall not be inconsistent with the provisions of this Indenture or to make any other changes, provided that in each case, such

  
 56 

 
provisions shall not adversely affect the interests of the Holders of Securities of any series or any related coupons in any material respect as determined in good faith by the Board of
Directors; or 
 (10)  to close this Indenture with respect to the authentication and delivery of additional series of Securities
or to qualify, or maintain qualification of, this Indenture under the TIA; or 
 (11)  to supplement any of the provisions of this
Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities pursuant to Sections 401, 1402 and 1403; provided in each case that any such action shall not adversely affect the
interests of the Holders of Securities of such series and any related coupons or any other series of Securities in any material respect. 

SECTION 902.  Supplemental Indentures with Consent of Holders. 

The Company and the Trustee may (i) amend or supplement this Indenture or the Securities without notice to any Holder of Securities but
with the written consent of the Holders of a majority in aggregate principal amount of the Securities of all series then outstanding or (ii) supplement this Indenture with regard to a series of Securities, amend or supplement a Supplemental
Indenture relating to a series of Securities, or amend the Securities of a series, without notice to any Holder of Securities but with the written consent of the Holders of a majority in aggregate principal amount of the Securities of that series
then outstanding. The Holders of a majority in principal amount of the Securities of all series then outstanding may waive compliance by the Company with any provision of this Indenture or the Securities without notice to any Holder of Securities.
The Holders of a majority in principal amount of the Securities of any series then outstanding may waive compliance with any provision of this Indenture, any Supplemental Indenture or the Securities of that series with regard to the Securities of
that series without notice to any Holder of Securities. However, without the consent of the Holder of each Outstanding Security affected thereby, no amendment, supplement or waiver may: 

(1)  change the Stated Maturity of the principal of (or premium or Make-Whole Amount, if any, on) or any installment of principal of
or interest on, any Security; or reduce the principal amount thereof or the rate or amount of interest thereon or any Additional Amounts payable in respect thereof, or any premium or Make-Whole Amount payable upon the redemption thereof, or change
any obligation of the Company to pay Additional Amounts pursuant to Section 1011 (except as contemplated by Section 801(i) and permitted by Section 901(1)), or reduce the amount of the principal of an Original Issue Discount Security
or Make-Whole Amount, if any, that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502 or the amount thereof provable in bankruptcy pursuant to Section 504, or change any Place of
Payment where, or the currency or currencies, currency unit or units or composite currency or currencies in which, the principal of any Security or any premium or Make-Whole Amount or any Additional Amounts payable in respect thereof or the interest
thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or repayment at the option of the Holder, on or after the Redemption Date or the
Repayment Date, as the case may be); or 

  
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 (2)  reduce the percentage in principal amount of the Outstanding Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver with respect to such series (or compliance with certain provisions of this Indenture or certain defaults
hereunder and their consequences) provided for in this Indenture or, or reduce the requirements of Section 1504 for quorum or voting; or 

(3)  modify any of the provisions of this Section, Section 513 or Section 1012, except to increase the required percentage
to effect such action or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; or 

(4)  make any change that adversely affects the right to convert or exchange any Security pursuant to Section 301 or decrease
the conversion or exchange rate or increase the conversion or exchange price of any such Security. 
 It shall not be necessary for any Act
of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture that has expressly been included for the
benefit of one or more particular series of Securities, or that modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
Holders of Securities of any other series. 
 SECTION 903.  Execution of Supplemental Indentures. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modification thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and shall be fully protected in relying upon, an Opinion of Counsel and an Officers’ Certificate stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture and that all conditions precedent to the execution of such supplemental indenture have been complied with. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture that
affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 904.  Effect of
Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in
accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated and delivered hereunder and of any coupon appertaining thereto shall
be bound thereby. 
 SECTION 905.  Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the TIA as then in effect. 

  
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 SECTION 906.  Reference in Securities to Supplemental Indentures. 

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

SECTION 907.  Notice of Supplemental Indentures. 

Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of Section 902, the
Company shall give notice thereof to the Holders of each Outstanding Security affected, in the manner provided for in Section 106, setting forth in general terms the substance of such supplemental indenture. 

SECTION 908.  Subordination Unimpaired. 

No provision in any supplemental indenture that affects the superior position of the holders of Senior Debt shall be effective against holders
of Senior Debt. 
 ARTICLE TEN 

COVENANTS 
 SECTION
1001.  Payment of Principal, Premium or Make-Whole Amount, if any, Interest and Additional Amounts. 
 The Company covenants and
agrees for the benefit of the Holders of each series of Securities that it will duly and punctually pay the principal of (and premium or Make-Whole Amount, if any) and interest on and any Additional Amounts payable in respect of the Securities of
that series in accordance with the terms of such series of Securities, any coupons appertaining thereto and this Indenture. Unless otherwise specified as contemplated by Section 301 with respect to any series of Securities, any interest due on
and any Additional Amounts payable in respect of Bearer Securities on or before Maturity, other than Additional Amounts, if any, payable as provided in Section 1011 in respect of principal of (or premium or Make-Whole Amount, if any, on) such a
Security, shall be payable only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. Unless otherwise specified with respect to Securities of any series pursuant to
Section 301, at the option of the Company, all payments of principal may be paid by check to the registered Holder of the Registered Security or other person entitled thereto against surrender of such Security. 

SECTION 1002.  Maintenance of Office or Agency. 

If Securities of a series are issuable only as Registered Securities, the Company shall maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented or surrendered for payment or conversion, where 

  
 59 

 
Securities of that series may be surrendered for registration of transfer or exchange, and where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company will maintain: (A) in the City of Irvine, California, an office or agency where any Registered Securities of that series may be presented or
surrendered for payment or conversion, where any Registered Securities of that series may be surrendered for exchange, where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served and
where Bearer Securities of that series and related coupons may be presented or surrendered for payment or conversion in the circumstances described in the following paragraph (and not otherwise); (B) subject to any laws or regulations
applicable thereto, in a Place of Payment for that series that is located outside the United States, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment (including payment of any
Additional Amounts payable on Securities of that series pursuant to Section 1011) or conversion; provided, however, that if the Securities of that series are listed on the Luxembourg Stock Exchange, The International Stock Exchange or any other
stock exchange located outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities of that series in Luxembourg, London, England or any other required city located outside the
United States, as the case may be, so long as the Securities of that series are listed on such exchange; and (C) subject to any laws or regulations applicable thereto, in each Place of Payment for that series located outside the United States
an office or agency where any Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for exchange and where notices and demands to or upon the Company in respect of the
Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of each 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, except that Bearer Securities
of that series and the related coupons may be presented and surrendered for payment (including payment of any Additional Amounts payable on Bearer Securities of that series pursuant to Section 1011) at the offices specified in the Security, in
London, England, and the Company hereby appoints the same as its agent to receive such respective presentations, surrenders, notices and demands. 

Unless otherwise specified with respect to any Securities pursuant to Section 301, no payment of principal, premium, Make-Whole Amount or
interest on or Additional Amounts in respect of Bearer Securities shall be made by the Company at any office or agency of the Company in the United States or by check mailed to any address in the United States or by transfer to an account maintained
with a bank located in the United States; provided, however, that, if the Securities of a series are payable in Dollars, payment of principal of and any premium and interest on any Bearer Security (including any Additional Amounts or Make-Whole
Amount payable on Securities of such series pursuant to Section 1011) shall be made at the office of the Company’s Paying Agent in the City of Irvine, California, if (but only if) payment in Dollars of the full amount of such principal,
premium, interest, Additional Amounts or Make-Whole Amount, as the case may be, at all offices or agencies outside the United States maintained for the purpose by the Company in accordance with this Indenture, is illegal or effectively precluded by
exchange controls or other similar restrictions. 

  
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 The Company may from time to time designate one or more other offices or agencies where the
Securities of one or more series and related coupons, if any, may be presented or surrendered for any or all of 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 accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any
such designation or rescission and of any change in the location of any such other office or agency. 
 Unless otherwise specified with
respect to any Securities pursuant to Section 301, if and so long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be payable in a Foreign Currency, or so long as it is required under any other
provision of the Indenture, then the Company will maintain with respect to each such series of Securities, or as so required, at least one exchange rate agent. 

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

If the Company shall at any time act as its own Paying Agent with respect to any series of any Securities and any related coupons, it will, on
or before each due date of the principal of (and premium or Make-Whole Amount, if any), or interest on or Additional Amounts in respect of, any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series)
sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest or Additional Amounts so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the
Trustee of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any series of Securities and
any related coupons, it will, on or before each due date of the principal of (and premium or Make-Whole Amount, if any), or interest on or Additional Amounts in respect of, any Securities of that series, deposit with a Paying Agent a sum (in the
currency or currencies, currency unit or units or composite currency or currencies described in the preceding paragraph) sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest or Additional Amounts, so becoming due,
such sum to be held in trust for the benefit of the Persons entitled to such principal, premium, Make-Whole Amount or interest or Additional Amounts and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its
action or failure so to act. 
 The Company will cause each Paying Agent other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will: 

(1)  hold all sums held by it for the payment of principal of (and premium or Make-Whole Amount, if any) or interest on Securities
or Additional Amounts in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

  
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 (2)  give the Trustee written notice of any default by the Company (or any other
obligor upon the Securities) in the making of any such payment of principal (and premium or Make-Whole Amount, if any) or interest or Additional Amounts; and 

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

Except as otherwise provided in the Securities of any series, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of (and premium or Make-Whole Amount, if any) or interest on, or any Additional Amounts in respect of, any Security of any series and remaining unclaimed for two years after such principal (and
premium or Make-Whole Amount, if any), interest or Additional Amounts has become due and payable shall be paid to the Company upon Company Request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security
shall thereafter, as an unsecured general creditor, look only to the Company for payment of such principal of (and premium or Make-Whole Amount, if any) or interest on, or any Additional Amounts in respect of, any Security, without interest thereon,
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 an Authorized Newspaper, 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 publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 SECTION
1004.  [Reserved]. 
 SECTION 1005.  Existence. 

Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect the
existence, rights (charter and statutory) and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any right or franchise 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 as a whole and that the loss thereof is not disadvantageous in any material respect to the Holders of Securities of any series. 

SECTION 1006.  Maintenance of Properties. 

The Company will cause all of its material properties used or useful in the conduct of its business or the business of any Subsidiary to be
maintained and kept in good condition, repair 

  
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and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment
of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that for the avoidance of doubt, nothing in this Section shall prevent the Company
or any Subsidiary from selling or otherwise disposing of its properties in the ordinary course of its business. 
 SECTION
1007.  Insurance. 
 The Company will, and will cause each of its Subsidiaries to, keep all its insurable properties insured
against loss or damage with commercially reasonable amounts and types of insurance provided by insurers of recognized responsibility. 

SECTION 1008.  Payment of Taxes and Other Claims. 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments
and governmental charges levied or imposed upon it or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies that, if unpaid, might by law become a
lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or
validity is being contested in good faith by appropriate proceedings. 
 SECTION 1009.  Provision of Financial Information. 

(a)  The Company covenants and agrees to comply with its obligations pursuant to Section 703 of the Indenture.

 (b)  [Reserved]. 

(c)  The Company’s obligations under this Section 1009 and Section 703(1) and (2) shall be
deemed satisfied, and no further filing with or delivery to the Trustee of copies of such information, documents or reports shall be required pursuant to such Sections, to the extent the Company has filed such information, documents or reports with
the Commission via the Electronic Data Gathering and Retrieval (EDGAR) or any successor system. 
 SECTION 1010.  Statement as to
Compliance. 
 The Company will deliver to the Trustee within 120 days after the end of each fiscal year, a brief certificate from the
principal executive officer, principal financial officer or principal accounting officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture and, in the event of any noncompliance,
specifying such noncompliance and the nature and status thereof. For purposes of this Section 1010, such compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture. 

  
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 SECTION 1011.  Additional Amounts. 

If any Securities of a series provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series
or any coupon appertaining thereto Additional Amounts as may be specified as contemplated by Section 301. Whenever in this Indenture there is mentioned, in any context except in the case of Section 502(1), the payment of the principal of
or any premium, Make-Whole Amount or interest on, or in respect of, any Security of any series or payment of any related coupon or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to
include mention of the payment of Additional Amounts provided by the terms of such series established pursuant to Section 301 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to
such terms and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 

Except as otherwise specified as contemplated by Section 301, if the Securities of a series provide for the payment of Additional
Amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium
is made), and at least 10 days prior to each date of payment of principal and any premium or Make-Whole Amount or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the
Company will furnish the Trustee and the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of
principal of and any premium or interest on the Securities of that series shall be made to Holders of Securities of that series or any related coupons who are not United States persons without withholding for or on account of any tax, assessment or
other governmental charge described in the Securities of or within the series. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to
such Holders of Securities of that series or related coupons and the Company will pay to the Trustee or such Paying Agent the Additional Amounts, if any, required by the terms of such Securities. In the event that the Trustee or any Paying Agent, as
the case may be, shall not so receive the above mentioned certificate, then the Trustee or such Paying Agent shall be entitled (i) to assume that no such withholding or deduction is required with respect to any payment of principal or interest
with respect to any Securities of a series or related coupons until it shall have received a certificate advising otherwise and (ii) to make all payments of principal and interest with respect to the Securities of a series or related coupons
without withholding or deductions until otherwise advised. The Company covenants to indemnify the Trustee and any Paying Agent and their respective officers, directors, employees and agents for, and to hold them harmless against, any loss, liability
or expense (including but not limited to legal fees and expenses) reasonably incurred without gross negligence or bad faith (as determined by a court of competent jurisdiction in a final non-appealable order) on their part arising out of or in
connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section or in reliance on the Company’s not furnishing such an Officers’ Certificate. 

  
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 SECTION 1012.  Waiver of Certain Covenants. 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in Sections 1005 to 1009, inclusive,
and with any other term, provision or condition with respect to the Securities of any series specified in accordance with Section 301 (except any such term, provision or condition that could not be amended without the consent of all Holders of
Securities of such series pursuant to Section 902), if before or after the time for such compliance the Holders of at least a majority in principal amount of all outstanding Securities of such series, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

ARTICLE ELEVEN 
 REDEMPTION OF
SECURITIES 
 SECTION 1101.  Applicability of Article. 

Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article. 
 SECTION
1102.  Election to Redeem; Notice to Trustee. 
 The election of the Company to redeem any Securities shall be evidenced by or
pursuant to a Board Resolution. In case of any redemption at the election of the Company of less than all of the Securities of any series, the Company shall, at least 45 days prior to the giving of the notice of redemption in Section 1104
(unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee, in writing, of such Redemption Date, of the principal amount of Securities of such series to be redeemed and of the Redemption Price of such Securities and any
accrued interest and Additional Amounts payable with respect thereto, if any, on the Redemption Date. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities
or elsewhere in this Indenture, the Company shall furnish the Trustee with an Officers’ Certificate and Opinion of Counsel evidencing compliance with such restriction. 

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

If less than all the Securities of any series issued with the same terms are to be redeemed, the particular Securities to be redeemed shall be
selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series issued on such date with the same terms not previously called for redemption, by such method as the Trustee shall deem fair
and appropriate, subject to the rules and procedures of DTC, and that may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the
principal 

  
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amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. 

If any Security selected for partial redemption is converted in part before termination of the conversion or exchange right with respect to
the portion of the Security so selected, the converted or exchanged portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities that have been converted or exchanged during a selection of
Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection. In any case where more than one Security is registered in the same name, the Trustee in its discretion may treat the aggregate principal
amount so registered as if it were represented by one Security. 
 The Trustee shall promptly notify the Company and the Security Registrar
(if other than itself) in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed. 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security that has been or is to be redeemed. 

SECTION 1104.  Notice of Redemption. 

Notice of redemption shall be given in the manner provided in Section 106, not less than 30 days nor more than 60 days prior to the
Redemption Date, unless a shorter period is specified by the terms of such series established pursuant to Section 301, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided to the Holder of
any Security designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof. 

Any notice that is mailed or otherwise given to the Holders of Registered Securities in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the Holder receives the notice. 
 All notices of redemption shall state: 

(1)  the Redemption Date; 

(2)  the Redemption Price, accrued interest to the Redemption Date payable as provided in Section 1106, if any, and Additional
Amounts, if any; 
 (3)  if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the
case of partial redemption, the principal amount) of the particular Security or Securities to be redeemed; 
 (4)  in case any
Security is to be redeemed in part only, that on and after the Redemption Date, upon surrender of such Security, the holder will receive, without a charge, a new Security 

  
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or Securities of authorized denominations for the principal amount thereof remaining unredeemed; 

(5)  that on the Redemption Date the Redemption Price and accrued interest to the Redemption Date payable as provided in
Section 1106, if any, will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon shall cease to accrue on and after said date; 

(6)  the Place or Places of Payment where such Securities, together in the case of Bearer Securities with all coupons appertaining
thereto, if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and accrued interest, if any, or for conversion or exchange; 

(7)  that the redemption is for a sinking fund, if such is the case; 

(8)  that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be
accompanied by all coupons maturing subsequent to the date fixed for redemption or the amount of any such missing coupon or coupons will be deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee for
such series and any Paying Agent is furnished; 
 (9)  if Bearer Securities of any series are to be redeemed and any Registered
Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to the redemption on this Redemption Date pursuant to Section 305 or otherwise, the last date, as determined
by the Company, on which such exchanges may be made; 
 (10)  the CUSIP number of such Security, if any, provided that neither the
Company nor the Trustee shall have any responsibility for any such CUSIP number; 
 (11)  if applicable, that a Holder of
Securities who desires to convert or exchange Securities to be redeemed must satisfy the requirements for conversion or exchange contained in such Securities, the then existing conversion or exchange price or rate and the date and time when the
option to convert or exchange shall expire and the place or places where such Securities may be surrendered for conversion or exchange; and 

(12)  such other information as the Trustee reasonably deems appropriate. 

Notice of redemption of Securities to be redeemed shall be given by the Company or, at the Company’s written request, by the Trustee in
the name and at the expense of the Company. 
 SECTION 1105.  Deposit of Redemption Price. 

On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own
Paying Agent, which it may not do in the case of a sinking fund payment under Article Twelve, segregate and hold in trust as provided in Section 1003) an amount of money in the currency or currencies, currency unit or units or composite
currency or currencies in which the Securities of such series are payable (except as 

  
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otherwise specified pursuant to Section 301 for the Securities of such series) sufficient to pay on the Redemption Date the Redemption Price of, and (except if the Redemption Date shall be
an Interest Payment Date) accrued interest on, all the Securities or portions thereof that are to be redeemed on that date. 
 SECTION
1106.  Securities Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be
redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series) (together with accrued interest and Additional Amounts payable with respect thereto, if any, on the Redemption Date), and from and after such date (unless
the Company shall default in the payment of the Redemption Price and accrued interest and Additional Amounts, if any) such Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for such interest appertaining to
any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for redemption in accordance with said notice, together with all coupons, if any, appertaining thereto maturing after
the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with accrued interest and Additional Amounts payable with respect thereto, if any, on the Redemption Date; provided, however, that installments of
interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise
specified as contemplated by Section 301, only upon presentation and surrender of coupons for such interest; and provided further that except as otherwise provided with respect to Securities convertible or exchangeable into other securities or
property (including securities of other issuers, provided that such securities are registered under Section 12 of the Exchange Act and such issuer is then eligible to use Form S-3 (or any successor form) for a primary offering of its
securities) of the Company, installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such
at the close of business on the relevant Record Dates according to their terms and the provisions of Section 307. 
 If any Bearer
Security surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the Redemption Date, such Security may be paid after deducting from the Redemption Price an amount equal to the face amount of all such missing
coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter
the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted;
provided, however, that interest represented by coupons shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified as contemplated by
Section 301, only upon presentation and surrender of those coupons. If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal, (and premium or
Make-

  
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Whole Amount, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Security. 

SECTION 1107.  Securities Redeemed in Part. 

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

ARTICLE TWELVE 
 SINKING FUNDS

 SECTION 1201.  Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series except as otherwise
specified as contemplated by Section 301 for Securities of such series. 
 The minimum amount of any sinking fund payment provided for
by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of such Securities of any series is herein referred to as an
“optional sinking fund payment.” If provided for by the terms of any Securities of any series, the cash amount of any mandatory sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking fund payment
shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 SECTION
1202.  Satisfaction of Sinking Fund Payments with Securities. 
 The Company may, in satisfaction of all or any part of any
mandatory sinking fund payment with respect to the Securities of a series, (1) deliver Outstanding Securities of such series (other than any previously called for redemption) together in the case of any Bearer Securities of such series with all
unmatured coupons appertaining thereto and (2) apply as a credit Securities of such series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, as provided for by the terms of such Securities, or which have otherwise been acquired by the Company; provided that such Securities so delivered or applied as a credit have not been
previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the applicable 

  
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Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly. 

SECTION 1203.  Redemption of Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for Securities of any series, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash in the currency or
currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) and the portion thereof, if any,
which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202, and the amount of optional sinking fund payments, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will
also deliver to the Trustee any Securities to be so delivered and credited. If such Officers’ Certificate shall specify an optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be
obligated to pay the amount therein specified. Not less than 30 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103
and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Section 1106 and 1107. 
 ARTICLE THIRTEEN 

[RESERVED] 
 ARTICLE FOURTEEN 

DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 1401.  Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. 

If, pursuant to Section 301, provision is made for either or both of (a) defeasance of the Securities of or within a series under
Section 1402 or (b) covenant defeasance of the Securities of or within a series under Section 1403 to be applicable to the Securities of any series, then the provisions of such Section or Sections, as the case may be, together with
the other provisions of this Article (with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities), shall be applicable to such Securities and any coupons appertaining thereto, and the Company may
at its option by Board Resolution at any time, with respect to such Securities and any coupons appertaining thereto, elect to defease such Outstanding Securities and any coupons appertaining thereto pursuant to Section 1402 (if applicable) or
Section 1403 (if applicable) upon compliance with the conditions set forth below in this Article. 
 SECTION
1402.  Defeasance and Discharge. 

  
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 Upon the Company’s exercise of the above option applicable to this Section with respect to
any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Outstanding Securities and any coupons appertaining thereto on the date the conditions set forth in Section 1404
are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and any coupons appertaining
thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 1405 and the other Sections of this Indenture referred to in clauses (A) and (B) below, and to have satisfied all of its other
obligations under such Securities and any coupons appertaining thereto and this Indenture insofar as such Securities and any coupons appertaining thereto are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following that shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of such Outstanding Securities and any coupons appertaining thereto to receive, solely from the
trust fund described in Section 1404 and as more fully set forth in such Section, payments in respect of the principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities and any coupons appertaining thereto
when such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 305, 306, 1002 and 1003 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by
Section 1011, (C) the rights, powers, trusts, duties and immunities of the Trustee hereunder including but not limited to Section 606 hereof and (D) this Article. Subject to compliance with this Article Fourteen, the Company may
exercise its option under this Section notwithstanding the prior exercise of its option under Section 1403 with respect to such Securities and any coupons appertaining thereto. 

SECTION 1403.  Covenant Defeasance. 

Upon the Company’s exercise of the above option applicable to this Section with respect to any Securities of or within a series, the
Company shall be released from its obligations under Sections 1005 to 1009, inclusive, and, if specified pursuant to Section 301, its obligations under any other covenant, with respect to such Outstanding Securities and any coupons appertaining
thereto on and after the date the conditions set forth in Section 1404 are satisfied (hereinafter, “covenant defeasance”), and such Securities and any coupons appertaining thereto shall thereafter be deemed to be 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 Sections 1005 to 1009, inclusive, or such other covenant, but shall continue to be
deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities and any coupons appertaining thereto, the Company may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by
reason of reference in any such Section or such other 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 501(4) or 501(7) or otherwise,
as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and any coupons appertaining thereto shall be unaffected thereby. 

  
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 SECTION 1404.  Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of Section 1402 or Section 1403 to any Outstanding Securities of or within a
series and any coupons appertaining thereto: 
 (a)  The Company shall irrevocably have deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities and any coupons appertaining thereto,
(1) an amount in such currency, currencies or currency unit in which such Securities and any coupons appertaining thereto are then specified as payable at Stated Maturity, or (2) Government Obligations applicable to such Securities and
coupons appertaining thereto (determined on the basis of the currency, currencies or currency unit in which such Securities and coupons appertaining thereto are then specified as payable at Stated Maturity) that through the scheduled payment of
principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment of principal of (and premium or Make-Whole Amount, if any) and interest and Additional Amounts, if any,
on such Securities and any coupons appertaining thereto, money in an amount, or (3) a combination thereof in an amount, sufficient, without consideration of any reinvestment of such principal and interest, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and that shall be applied by the Trustee to pay and discharge, (i) the principal of (and premium or
Make-Whole Amount, if any) and interest, if any, on such Outstanding Securities and any coupons appertaining thereto on the Stated Maturity of such principal or installment of principal or interest and (ii) any mandatory sinking fund payments
or analogous payments applicable to such Outstanding Securities and any coupons appertaining thereto on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities and any coupons
appertaining thereto; provided, that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such Government Obligations to said payments with respect to such Securities. Before such a deposit, the Company may give
to the Trustee, in accordance with Section 1102 hereof, a notice of its election to redeem all or any portion of such Outstanding Securities at a future date in accordance with the terms of the Securities of such series and Article Eleven
hereof, which notice shall be irrevocable. Such irrevocable redemption notice, if given, shall be given effect in applying the foregoing. 

(b)  Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default
under, this Indenture or any other material agreement or instrument to which the Company is a party or by which it is bound (and shall not cause the Trustee to have a conflicting interest pursuant to Section 310(b) of the TIA with respect to
any Security of the Company). 
 (c)  No Event of Default or event that with notice or lapse of time or both would
become an Event of Default with respect to such Securities and any coupons appertaining thereto shall have occurred and be continuing on the date of such deposit or, insofar as Sections 501(5) and 501(6) are concerned, at any time during the period
ending on the 

  
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91st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 

(d)  In the case of an election under Section 1402, the Company shall have delivered to the Trustee an Opinion
of Counsel stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of execution 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 shall confirm that, the Holders of such Outstanding Securities and any coupons appertaining thereto will not recognize income, gain or loss for Federal income tax
purposes as a result of such 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 defeasance had not occurred. 

(e)  In the case of an election under Section 1403, the Company shall have delivered to the Trustee an Opinion
of Counsel to the effect that the Holders of such Outstanding Securities and any coupons appertaining thereto 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. 

(f)  The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent to the defeasance under Section 1402 or the covenant defeasance under Section 1403 (as the case may be) have been complied with and an Opinion of Counsel to the effect that either (i) as a result
of a deposit pursuant to subsection (a) above and the related exercise of the Company’s option under Section 1402 or Section 1403 (as the case may be) registration is not required under the Investment Company Act of 1940, as
amended, by the Company, with respect to the trust funds representing such deposit or by the Trustee for such trust funds or (ii) all necessary registrations under said Act have been effected. 

(g)  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. 

(h)  Notwithstanding any other provisions of this Section, such defeasance or covenant defeasance shall be effected
in compliance with any additional or substitute terms, conditions or limitations that may be imposed on the Company in connection therewith pursuant to Section 301. 

SECTION 1405.  Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions. 

Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations (or other property as may be
provided pursuant to Section 301) (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 1405, the “Trustee”) pursuant to Section 1404 in respect

  
 73 

 
of any Outstanding Securities of any series and any coupons appertaining thereto shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any
coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities and any coupons
appertaining thereto of all sums due and to become due thereon in respect of principal (and premium or Make-Whole Amount, if any) and interest and Additional Amounts, if any, but such money need not be segregated from other funds except to the
extent required by law. 
 Unless otherwise specified with respect to any Security pursuant to Section 301, if, after a deposit
referred to in Section 1404(a) has been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 301 or the terms of such Security to receive payment in a
currency or currency unit other than that in which the deposit pursuant to Section 1404(a) has been made in respect of such Security, or (b) a Conversion Event occurs in respect of the currency or currency unit in which the deposit
pursuant to Section 1404(a) has been made, the indebtedness represented by such Security and any coupons appertaining thereto shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and
premium or Make-Whole Amount, if any), and interest, if any, on such Security as the same becomes due and Additional Amounts, if any, out of the proceeds yielded by converting (from time to time as specified below in the case of any such election)
the amount or other property deposited in respect of such Security into the currency or currency unit in which such Security becomes payable as a result of such election or Conversion Event based on the applicable market exchange rate for such
currency or currency unit in effect on the second Business Day prior to each payment date, except, with respect to a Conversion Event, for such currency or currency unit in effect (as nearly as feasible) at the time of the Conversion Event. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations
deposited pursuant to Section 1404 or the principal and interest received in respect thereof other than any such tax, fee or other charge that by law is for the account of the Holders of such Outstanding Securities and any coupons appertaining
thereto. 
 Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in Section 1404 that, in the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this Article. 

ARTICLE FIFTEEN 
 MEETINGS OF
HOLDERS OF SECURITIES 
 SECTION 1501.  Purposes for Which Meetings May Be Called. 

  
 74 

 A meeting of Holders of Securities of any series may be called at any time and from time to time
pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such series. 

SECTION 1502.  Call, Notice and Place of Meetings. 

(a) The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in
Section 1501, to be held at such time and at such place in the City of Irvine, California as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and
in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 106, not less than 21 nor more than 180 days prior to the date fixed for the meeting. 

(b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 25% in principal amount of the
Outstanding Securities of any series shall have requested the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in Section 1501, by written request setting forth in reasonable detail the action
proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided
herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time and the place in the City of Irvine, California for such meeting and may call such meeting for such
purposes by giving notice thereof as provided in subsection (a) of this Section. 
 SECTION 1503.  Persons Entitled to Vote
at Meetings. 
 To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or
more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders. The only Persons who shall be
entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the
Company and its counsel. 
 SECTION 1504.  Quorum; Action. 

The Persons entitled to vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting
of Holders of Securities of such series; provided, however, that if any action is to be taken at such meeting with respect to a consent or waiver which this Indenture expressly provides may be given by the Holders of not less than a specified
percentage in principal amount of the Outstanding Securities of a series, the Persons entitled to vote such specified percentage in principal amount of the Outstanding Securities of such series shall constitute a quorum. In the absence of a quorum
within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of 

  
 75 

 
Securities of such series, be dissolved. In any other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment
of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned
meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 1502(a), except that such notice need be given only once not less than five (5) days prior to the date on which the meeting is scheduled to
be reconvened. Notice of the reconvening of any adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall constitute a quorum. Except as limited by the
proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the affirmative vote of the Holders of a majority in aggregate principal amount of
the Outstanding Securities of that series represented at such meeting; provided, however, that, except as limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent,
waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding Securities of a series may be adopted at a
meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding Securities of that series. 

Any resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall
be binding on all the Holders of Securities of such series and the related coupons, whether or not present or represented at the meeting. 

Notwithstanding the foregoing provisions of this Section 1504, if any action is to be taken at a meeting of Holders of Securities of any
series with respect to any request, demand, authorization, direction, notice, consent, waiver or other action that this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage in principal amount of all
Outstanding Securities affected thereby, or of the Holders of such series and one or more additional series: 
 (i) there shall be no
minimum quorum requirement for such meeting; and 
 (ii) the principal amount of the Outstanding Securities of such series that vote in
favor of such request, demand, authorization, direction, notice, consent, waiver or other action shall be taken into account in determining whether such request, demand, authorization, direction, notice, consent, waiver or other action has been
made, given or taken under this Indenture. 
 SECTION 1505.  Determination of Voting Rights; Conduct and Adjournment of Meetings.

 (a)  Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable regulations as it
may deem advisable for any meeting of Holders of Securities of a series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes,

  
 76 

 
the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except
as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or by
having the signature of the Person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section 104 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments
appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 104 or other proof. 

(b)  The Trustee or Holders shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless
the meeting shall have been called by the Company or by Holders of Securities as provided in Section 1502(b), in which case the Company or the Holders of Securities of or within the series calling the meeting, as the case may be, shall in like
manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at
the meeting. 
 (c)  At any meeting each Holder of a Security of such series or proxy shall be entitled to one
vote for each $1,000 principal amount of the Outstanding Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled
by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy. 

(d)  Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 at which a quorum
is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting, and the meeting may be held as so adjourned without further notice.

 SECTION 1506.  Counting Votes and Recording Action of Meetings. 

The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be
subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairman
of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes
cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of Securities of any series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the fact, setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 1502
and, if applicable, 

  
 77 

 
Section 1504. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company and another
to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

SECTION 1507.  Evidence of Action Taken by Holders. 

Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by a
specified percentage in principal amount of the Holders of any or all series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such specified percentage of Holders in person or by agent duly
appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee. Proof of execution of any instrument or of a writing appointing any such
agent shall be sufficient for any purpose of this Indenture and (subject to Article Six) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Article. 

SECTION 1508.  Proof of Execution of Instruments. 

Subject to Article Six, the execution of any instrument by a Holder or his agent or proxy may be proved in accordance with such reasonable
rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. 
 ARTICLE SIXTEEN 

[RESERVED] 
 ARTICLE SEVENTEEN

 SUBORDINATION 
 SECTION
1701.  Agreement to Subordinate. 
 Except as otherwise provided in a supplemental indenture or pursuant to Section 301, the
Company agrees, and each Holder by accepting a Security agrees, that the indebtedness evidenced by the Securities is subordinated in right of payment, to the extent and in the manner provided in this Article, to the prior payment in full of all
Senior Debt and that the subordination is for the benefit of the holders of Senior Debt. 
 SECTION 1702.  Liquidation;
Dissolution; Bankruptcy. 
 Upon any distribution to creditors of the Company in a liquidation or dissolution of the Company or in a
bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the Company or its property: 

(1)  holders of Senior Debt shall be entitled to receive payment in full in cash of the principal of and interest (including
interest accruing after the commencement of any such 

  
 78 

 
proceeding) to the date of payment on the Senior Debt before Holders shall be entitled to receive any payment of principal of or interest on the Securities; 

(2)  until the Senior Debt is paid in full in cash, any distribution to which Holders would be entitled but for this Article shall
be made to holders of Senior Debt as their interests may appear, except that Holders may receive securities that are subordinated to Senior Debt to at least the same extent as the Securities; and 

(3)  the Trustee is entitled to conclusively rely upon an order or decree of a court of competent jurisdiction or a certificate of a
bankruptcy trustee or other similar official for the purpose of ascertaining the persons entitled to participate in such distribution, the holders of Senior Debt and other Company debt, the amount thereof or payable thereon and all other pertinent
facts relating to the Trustee’s obligations under this Article Seventeen. 
 SECTION 1703.  Default on Senior Debt. 

The Company may not pay principal of or interest on the Securities and may not acquire any Securities for cash or property other than capital
stock of the Company if: 
 (1)  a default on Senior Debt occurs and is continuing that permits holders of such Senior Debt to
accelerate its maturity, and 
 (2)  the default is the subject of judicial proceedings or the Company receives a notice of the
default from a person who may give it pursuant to Section 1711. If the Company receives any such notice, a similar notice received within nine months thereafter relating to the same default on the same issue of Senior Debt shall not be
effective for purposes of this Section. 
 The Company may resume payments on the Securities and may acquire them when: 

(a)  the default is cured or waived, or 

(b)  120 days pass after the notice is given if the default is not the subject of judicial proceedings if this Article otherwise
permits the payment or acquisition at that time. 
 SECTION 1704.  Acceleration of Securities. 

If payment of the Securities is accelerated because of an Event of Default, the Company shall promptly notify holders of Senior Debt of the
acceleration. The Company may pay the Securities when 120 days pass after the acceleration occurs if this Article permits the payment at that time. 

SECTION 1705.  When Distribution Must Be Paid Over. 

If a distribution is made to Holders that because of this Article should not have been made to them, the Holders who receive the distribution
shall hold it in trust for holders of Senior Debt and pay it over to them as their interests may appear. 
 SECTION 1706.  Notice
by Company. 

  
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 The Company shall promptly notify the Trustee, in writing, and any Paying Agent of any facts
known to the Company that would cause a payment of principal of or interest on Securities to violate this Article. 
 SECTION
1707.  Subrogation. 
 After all Senior Debt is paid in full and until the Securities are paid in full, Holders shall be
subrogated to the rights of holders of Senior Debt to receive distributions applicable to Senior Debt to the extent that distributions otherwise payable to the Holders have been applied to the payment of Senior Debt. A distribution made under this
Article to holders of Senior Debt which otherwise would have been made to Holders is not, as between the Company and Holders, a payment by the Company on Senior Debt. 

SECTION 1708.  Relative Rights. 

This Article defines the relative rights of Holders and holders of Senior Debt. Nothing in this Indenture shall: 

(1)  impair, as between the Company and Holders, the obligation of the Company, which is absolute and unconditional, to pay
principal of and interest on the Securities in accordance with their terms; 
 (2)  affect the relative rights of Holders and
creditors of the Company other than holders of Senior Debt; or 
 (3)  prevent the Trustee or any Holder from exercising its
available remedies upon an Event of Default, subject to the rights of holders of Senior Debt to receive distributions otherwise payable to Holders. 

If the Company fails because of this Article to pay principal of or interest on a Security on the due date, the failure is still a default.

 SECTION 1709.  Subordination May Not Be Impaired By Company. 

No right of any holder of Senior Debt to enforce the subordination of the indebtedness evidenced by the Securities shall be impaired by any
act or failure to act by the Company or by its failure to comply with this Indenture. 
 SECTION 1710.  Distribution or Notice to
Representative. 
 Whenever a distribution is to be made or a notice given to holders of Senior Debt, the distribution may be made and the
notice given to their Representative. 
 SECTION 1711.  Rights of Trustee and Paying Agent. 

The Trustee or any Paying Agent may continue to make payments on the Securities until a Responsible Officer receives written notice of facts
that would cause a payment of principal of 

  
 80 

 
or interest on the Securities to violate this Article. Only the Company, a Representative or a holder of an issue of Senior Debt that has no Representative may give the written notice. 

The Trustee has no duty to the holders of Senior Debt other than as created under this Indenture. The Trustee in its individual or any other
capacity may hold Senior Debt with the same rights it would have if it were not Trustee. 
 The Company’s obligation to pay, and the
Company’s payment of, the amounts required by Section 606 are excluded from the operation of this Article Seventeen. 
 This
Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Indenture. 

SECTION 1712.  Force Majeure. 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances. 
 SECTION 1713.  U.S.A. Patriot Act. 

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

  
 81 

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

					
	BANC OF CALIFORNIA, INC.
			
	By:	 	 /s/ Steven A. Sugarman
	 	

 
					
	Name:	 	Steven A. Sugarman
	Title:	 	President and Chief Executive Officer
	
	U.S. BANK NATIONAL ASSOCIATION

  

					
	By:	 	 /s/ K. Wendy Kumar
	 	

 
					
	Name:	 	K. Wendy Kumar	 	
	Title:	 	Vice President	 	

  
  

[Signature Page to Indenture] 

 EXHIBIT A 

FORM OF CERTIFICATION 
 EXHIBIT A-1

 FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED 

TO RECEIVE BEARER SECURITY OR TO OBTAIN INTEREST 

PAYABLE PRIOR TO THE EXCHANGE DATE 

CERTIFICATE 
 [Insert title or
sufficient description of Securities to be delivered] 
 This is to certify that, as of the date hereof, and except as set forth below, the
above-captioned Securities held by you for our account (i) are owned by person(s) that are not citizens or residents of the United States, domestic partnerships, domestic corporations or any estate or trust the income of which is subject to
United States federal income taxation regardless of its source (“United States person(s)”), (ii) are owned by United States person(s) that are (a) foreign branches of United States financial institutions (financial institutions,
as defined in United States Treasury Regulations Section 1.165-12(c)(1)(v) are herein referred to as “financial institutions”) purchasing for their own account or for resale, or (b) United States person(s) who acquired the
Securities through foreign branches of United States financial institutions and who hold the Securities through such United States financial institutions on the date hereof (and in either case (a) or (b), each such United States financial
institution hereby agrees, on its own behalf or through its agent, that you may advise                          or its agent that
such financial institution will provide a certificate within a reasonable time stating that it agrees to comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United States Internal Revenue Code of 1986, as amended,
and the regulations thereunder), or (iii) are owned by a financial institution for purposes of resale during the restricted period (as defined in United States Treasury Regulations Section 1.1635(c)(2)(i)(D)(7)), and, such financial
institution described in clause (iii) above (whether or not also described in clause (i) or (ii)), certifies that it has not acquired the Securities for purposes of resale directly or indirectly to a United States person or to a person
within the United States or its possessions. 
 As used herein, “United States” means the United States of America (including the
States and the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

We undertake to advise you promptly by tested telex on or prior to the date on which you intend to submit your certification relating to the
above-captioned Securities held by you for our account in accordance with your Operating Procedures if any applicable statement herein is not correct on such date, and in the absence of any such notification it may be assumed that this certification
applies as of such date. This certificate excepts and does not relate to [U.S.$] of such interest in the above-captioned Securities in respect of which we are not able to certify and as to which we understand an exchange for an interest in a
permanent global Security or an exchange for and delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made until we do so certify. 

  
 1 

 We understand that this certificate may be required in connection with certain tax legislation in
the United States. If administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested
party in such proceedings. 
 Dated:
                    ,                      [To be
dated no earlier than the 15th day prior to the earlier of (i) the Exchange Date or (ii) the relevant Interest Payment Date occurring prior to the Exchange Date, as applicable] 

 

							
		 		 	[Name of Person Making Certification]	 	
		 		 	(Authorized Signatory)	 	
		 		 	Name:	 	
		 		 	Title:	 	

  
 2 

 EXHIBIT A-2 

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR 

AND CLEARSTREAM S.A. IN CONNECTION WITH THE EXCHANGE OF 

A PORTION OF A TEMPORARY GLOBAL SECURITY OR TO 

OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE 

CERTIFICATE 
 [Insert title or
sufficient description of Securities to be delivered] 
 This is to certify that, based solely on written certifications that we have
received in writing, by tested telex or by electronic transmission from each of the persons appearing in our records as persons entitled to a portion of the principal amount set forth below (our “Member Organizations”) substantially in the
form attached hereto, as of the date hereof, (U.S.$) principal amount of the above-captioned Securities (i) is owned by person(s) that are not citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States Federal income taxation regardless of its source (“United States person(s)”), (ii) is owned by United States person(s) that are (a) foreign branches of United States
financial institutions (financial institutions, as defined in United States Treasury Regulations Section 1.165-12(c)(1)(v) are herein referred to as “financial institutions”) purchasing for their own account or for resale, or
(b) United States person(s) who acquired the Securities through foreign branches of United States financial institutions and who hold the Securities through such United States financial institutions on the date hereof (and in either case
(a) or (b), each such financial institution has agreed, on its own behalf or through its agent, that we may advise                      or its
agent that such financial institution will provide a certificate within a reasonable time stating that it agrees to comply with the requirements of Section 165(j)(3)(A), (B), or (C) of the Internal Revenue Code of 1986, as amended, and the
regulations thereunder), or (iii) is owned by a financial institution for purposes of resale during the restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and that such financial
institutions described in clause (iii) above (whether or not also described in clause (i) or (ii)) have certified that they have not acquired the Securities for purposes of resale directly or indirectly to a United States person or to a
person within the United States or its possessions. 
 As used herein, “United States” means the United States of America
(including the States and the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

We further certify that (i) we are not making available herewith for exchange (or, if relevant, collection of any interest) any portion
of the temporary global Security representing the above-captioned Securities excepted in the above-referenced certificates of Member Organizations and (ii) as of the date hereof we have not received any notification from any of our Member
Organizations to the effect that the statements made by such Member Organizations with respect to any portion of the part submitted herewith for exchange (or, if relevant, collection of any interest) are no longer true and cannot be relied upon as
of the date hereof. 

  
 1 

 We understand that this certification is required in connection with certain tax legislation in
the United States. If administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested
party in such proceedings. 
 Dated:
                    , 
 [To be dated no earlier than
the earlier of the Exchange Date or the relevant Interest Payment Date occurring prior to the Exchange Date, as applicable] 
  

					
	By:	  		  	
		
	  
	  	

  
 2

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