Document:

EX-4.2

 Exhibit 4.2 
  

 
  

RADIAN GROUP INC. 

and 
 U.S.
BANK NATIONAL ASSOCIATION, 
 as Trustee 

SIXTH SUPPLEMENTAL INDENTURE 

Dated as of June 24, 2019 

TO SENIOR INDENTURE 

Dated as of March 4, 2013 

4.875% SENIOR NOTES DUE 2027 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE I	  

		
	 DEFINITIONS
	  			
		
	 Section 1.01. Scope of Supplemental Indenture
	  	 	2	 
	 Section 1.02. Definitions
	  	 	2	 
	
	ARTICLE II	  

		
	 ISSUE, DESCRIPTION, EXECUTION,
REGISTRATION AND EXCHANGE OF NOTES
	  			
		
	 Section 2.01. Designation and Amount; Payments
	  	 	8	 
	 Section 2.02. Form of Notes
	  	 	8	 
	 Section 2.03. Depositary
	  	 	9	 
	 Section 2.04. Cancellation of Surrendered Notes
	  	 	10	 
	 Section 2.05. Notice of Defaults
	  	 	10	 
	 Section 2.06. Additional Notes; Repurchases
	  	 	10	 
	 Section 2.07. Payments on Physical Notes
	  	 	11	 
	
	ARTICLE III	  

		
	 SATISFACTION AND DISCHARGE
	  			
		
	 Section 3.01. Applicability of Article 8 and Article 9 of the Original
Indenture
	  	 	11	 
	 Section 3.02. Satisfaction and Discharge
	  	 	11	 
	
	ARTICLE IV	  

		
	 PARTICULAR COVENANTS OF THE
COMPANY
	  			
		
	 Section 4.01. Maintenance of Office or Agency
	  	 	12	 
	 Section 4.02. Additional Covenants
	  	 	12	 
	
	ARTICLE V	  

		
	 DEFAULTS AND REMEDIES
	  			
		
	 Section 5.01. Applicability of Article 6 of the Original Indenture
	  	 	13	 
	 Section 5.02. Events of Default
	  	 	13	 
	
	ARTICLE VI	  

		
	 SUPPLEMENTAL INDENTURES
	  			
		
	 Section 6.01. Supplemental Indentures Without Consent of Holders
	  	 	13	 
	 Section 6.02. Supplemental Indentures With Consent of Holders
	  	 	13	 
	 Section 6.03. Notice to Holders of Supplemental Indentures
	  	 	14	 
	 Section 6.04. Evidence of Compliance of Supplemental Indenture to be Furnished to
Trustee
	  	 	14	 

  
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	ARTICLE VII	  

		
	 CONSOLIDATION, MERGER, SALE,
CONVEYANCE AND LEASE
	  			
		
	 Section 7.01. Applicability of Article 5 of the Original Indenture
	  	 	14	 
	 Section 7.02. Company May Consolidate, etc. on Certain Terms
	  	 	15	 
	 Section 7.03. Successor Company to be Substituted
	  	 	15	 
	 Section 7.04. Opinion of Counsel to be Given to Trustee
	  	 	15	 
	
	ARTICLE VIII	  

		
	 OPTIONAL REDEMPTION
	  			
		
	 Section 8.01. Applicability of Article 3 of the Original Indenture
	  	 	15	 
	 Section 8.02. Right to Redeem; Notices to Trustee
	  	 	15	 
	 Section 8.03. Notice of Optional Redemption; Selection of Notes
	  	 	16	 
	 Section 8.04. Payment of Notes Called for Redemption
	  	 	17	 
	 Section 8.05. Restrictions on Redemption
	  	 	17	 
	
	ARTICLE IX	  

		
	 MISCELLANEOUS PROVISIONS
	  			
		
	 Section 9.01. Governing Law
	  	 	17	 
	 Section 9.02. No Security Interest Created
	  	 	17	 
	 Section 9.03. Notices
	  	 	18	 
	 Section 9.04. Benefits of Indenture
	  	 	18	 
	 Section 9.05. Effect of Headings
	  	 	18	 
	 Section 9.06. Supplemental Indenture May be Executed in Counterparts
	  	 	18	 
	 Section 9.07. Severability
	  	 	18	 
	 Section 9.08. Ratification of Original Indenture
	  	 	18	 
	 Section 9.09. Calculations
	  	 	18	 
	 Section 9.10. No Personal Liability
	  	 	19	 
		
	 Exhibit A         Form of Note
	  	 	A-1	 

  
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 SIXTH SUPPLEMENTAL INDENTURE, dated as of
June 24, 2019 (this “Supplemental Indenture”), between Radian Group Inc., a Delaware corporation (the “Company”), and U.S. Bank National Association, a national banking association organized under the laws of
the United States, as trustee (the “Trustee”), supplementing the Senior Indenture, dated as of March 4, 2013, between the Company and the Trustee (the “Original Indenture” and, as amended and supplemented by
this Supplemental Indenture, and as it may be further amended or supplemented from time to time, the “Indenture”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide, among other things, for the
issuance, from time to time, of the Company’s unsecured Securities, in an unlimited aggregate principal amount, in one or more series to be established by the Company under, and authenticated and delivered as provided in, the Original
Indenture; 
 WHEREAS, Section 10.01(g) of the Original Indenture provides for the Company and the Trustee to enter into
an indenture supplemental to the Original Indenture to establish the form and terms of Securities of any series as contemplated by Sections 2.01 and 2.02 of the Original Indenture; 

WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental
Indenture; 
 WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to establish a new series of its
Securities to be known as its “4.875% Senior Notes due 2027” (the “Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Original Indenture and
this Supplemental Indenture; 
 WHEREAS, the Form of Note, the certificate of authentication to be borne by each Note and the
Form of Assignment and Transfer contemplated under the terms of the Notes are to be substantially in the forms hereinafter provided; 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements
necessary have been performed to make (i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations
of the Company and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 

  
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 NOW, THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and
proportionate benefit of all Holders of the Notes, as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01. Scope of Supplemental Indenture. This Supplemental Indenture supplements the provisions of the Original Indenture,
to which provisions reference is hereby made. The changes, modifications and supplements to the Original Indenture effected by this Supplemental Indenture shall be applicable only with respect to, and shall only govern the terms of, the Notes, which
may be issued from time to time, and shall not apply to any other Securities that may be issued under the Original Indenture unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications
and supplements. For purposes of Article 11 of the Original Indenture, the Notes shall constitute a single class of Securities. The provisions of this Supplemental Indenture shall supersede any corresponding, or conflicting, provisions in the
Original Indenture. Unless otherwise specified, section and subsection references used herein are to this Supplemental Indenture. 

Section 1.02. Definitions. For all purposes of the Indenture, except as otherwise expressly provided or unless the context
otherwise requires: 
 (a)    the terms defined in this Article I shall have the respective meanings assigned to them in
this Article I and include the plural as well as the singular and, to the extent applicable, supersede the definitions thereof in the Original Indenture; 

(b)    all words, terms and phrases defined in the Original Indenture (but not otherwise defined herein) shall have the
same meanings as in the Original Indenture; 
 (c)    all other terms used herein that are defined in the Trust
Indenture Act, either directly or by reference therein, shall have the meanings assigned to them in the Trust Indenture Act; 

(d)    all accounting terms not otherwise defined herein shall have the meanings assigned to them in accordance with
generally accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting
principles in the United States of America as are generally accepted at the date of this instrument; and 
 (e)    the
words “herein,” “hereof” and “hereunder” and other words of similar import refer to the Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Adjusted Treasury Rate” means with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue for the Notes to be redeemed on such Redemption Date, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its aggregate principal amount) equal to the applicable
Comparable Treasury Price for such Redemption Date. 
 The Adjusted Treasury Rate shall be calculated on the second Business Day preceding
the Redemption Date. 

  
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 “Agent” means any Registrar, Paying Agent or Note Custodian. 

“Applicable Procedures” means, with respect to any payment, tender, redemption, transfer, or exchange of or for beneficial
interests in any Global Note, the rules and procedures of DTC that apply to such payment, tender, redemption, transfer or exchange. 

“Board of Directors” means the board of directors of the Company, including any duly authorized committee thereof. 

“Business Day” means, with respect to any Note, any day other than a Saturday, a Sunday or a day on which banking
institutions in New York, New York or at a place of payment under the Original Indenture are authorized or obligated by law or executive order to remain closed. 

“Capital Lease Obligation” means the amount of the liability in respect of a capital lease or finance lease that would appear
on the balance sheet in accordance with GAAP (but specifically excluding the liability in respect of any operating lease whether or not Accounting Standard Codification Topic 842 would otherwise apply and whether or not such operating lease
liability may appear on the balance sheet). 
 “close of business” means 5:00 p.m. (New York City time). 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as
having a maturity comparable to the Remaining Life. 
 “Comparable Treasury Price” means (1) the average of the
Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Company” shall have the meaning specified in the first paragraph of
this Supplemental Indenture, and subject to the provisions of Article VII, shall include its successors and assigns. 

“Default” means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of
Default. 
 “Depositary” means, with respect to each Global Note, the Person specified in Section 2.03(b) as the
Depositary, or any successor thereto registered as a clearing agency under the Exchange Act or other applicable statute or regulations. 

“Designated Subsidiary” means any present or future consolidated Subsidiary of the Company, the consolidated
stockholders’ equity of which constitutes at least 15% of the Company’s consolidated stockholders’ equity. 

“DTC” shall have the meaning specified in Section 2.03(b). 

  
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 “Form of Assignment and Transfer” shall mean the “Form of Assignment
and Transfer” attached as Attachment 1 to the Form of Note attached hereto as Exhibit A. 
 “Global Note” shall have
the meaning specified in Section 2.03(a). 
 “Indebtedness” means, with respect to any Person: 

(1) the principal of, and any premium and interest on, indebtedness of such Person for money borrowed and indebtedness evidenced by notes,
debentures, bonds or other similar instruments for the payment of which that person is responsible or liable; 
 (2) all Capital Lease
Obligations of such Person; 
 (3) all obligations of such Person issued or assumed as the deferred purchase price of property, all
conditional sale obligations and all obligations under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business and deferred purchase price due and payable within 90 days); 

(4) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit
transaction, other than obligations with respect to letters of credit securing obligations entered into in the ordinary course of business; 

(5) all Hedging Obligations of such Person; 

(6) all obligations of the type referred to above of other Persons and all dividends of other Persons for which such Person is responsible or
liable as obligor, guarantor or otherwise, except Indebtedness will not include (i) endorsements for collection or deposit in the ordinary course of business or (ii) financial guaranties made by an insurance company (including a financial
guaranty company) as an incident to the conduct of its insurance business and in the ordinary course of such business; 
 (7) all
obligations of the type referred to above of other Persons secured by any lien on any property or asset of such Person; and 
 (8) any
amendments, modifications, refundings, renewals or extensions of any indebtedness or obligation described above. 
 Notwithstanding the
foregoing, (i) Indebtedness of a Person will not include any Conduit Indebtedness or any Insured Indebtedness of such Person or any guaranty of that type of Indebtedness by such Person in the ordinary course of its business, and (ii) in
connection with the purchase by a Person of any business, the term Indebtedness will exclude post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a final closing so long as at the time
of closing, the amount of any such payment is not determinable and, to the extent such payment thereafter becomes fixed and determined, the amount is paid when due. “Conduit Indebtedness” means, with respect to a Person,
Indebtedness of a special purpose entity or Subsidiary of such Person that is consolidated on such Person’s financial statements in accordance with GAAP so long as (i) the proceeds of such 

  
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debt are used by such special purpose entity or Subsidiary to make loans to, or to purchase assets from, another Person that is not an affiliate of such Person, in the ordinary course of business
and (ii) such Indebtedness and/or any payment with respect to accounts receivable and other assets underlying such Indebtedness are guaranteed by the former Person or one or more of its Subsidiaries, in the ordinary course of business.
“Insured Indebtedness” means, with respect to a Person, any Indebtedness of such Person or its Subsidiaries that is guaranteed by such Person or another Subsidiary of such Person that is an insurance company (including a financial
guaranty company) so long as the proceeds of such Indebtedness are used to purchase securities, instruments, notes or other obligations issued or owed by a Person that is not an affiliate of such Person, in the ordinary course of business. 

“Indenture” has the meaning specified in the first paragraph of this Supplemental Indenture. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Interest Payment Date” means each March 15 and September 15 of each year, beginning on March 15, 2020. 

“Maturity Date” means March 15, 2027. 

“Note” or “Notes” shall have the meaning specified in the fourth paragraph of the recitals of this
Supplemental Indenture. 
 “Note Custodian” means the Trustee, as custodian for DTC, with respect to the Global Notes, or
any successor entity thereto. 
 “Optional Redemption” shall have the meaning specified in Section 8.02. 

“Outstanding” when used with respect to the Notes, means, as of the date of determination, all Notes theretofore
authenticated and delivered under this Indenture, except: 
 (a)    Notes theretofore canceled by the
Trustee or delivered to the Trustee for cancellation; 
 (b)    Notes which have been surrendered
pursuant to Section 2.10 of the Original Indenture or in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of which there shall have been
presented to the Trustee proof satisfactory to it that such Notes are held by a bona fide purchaser in whose hands such Notes are valid obligations of the Company; 

(c)    Notes, or portions thereof, that have become due, for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such
Notes; 

  
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 (d)    Notes required to be canceled pursuant to
Section 2.13 of the Original Indenture; and 
 (e)    Notes repurchased by the Company and subject
to the last sentence of Section 2.06; 
 provided, however, that in determining whether the Holders of the requisite principal amount of
the Outstanding Notes 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
Section 313 of the Trust Indenture Act, Notes owned by the Company or any Affiliate of the Company 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 Notes which the Trustee knows to be so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the pledgee is not the Company or any Affiliate of the Company. 

“Par Call Date” means September 15, 2026. 

“Paying Agent” means the Trustee or any successor office or agency maintained by the Company in the Place of Payment pursuant
to Section 4.02 of the Original Indenture where the Notes may be presented or surrendered for payment or surrendered for transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and the Indenture may be
served. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture, association,
joint-stock company, trust, unincorporated organization or government or agency or political subdivision thereof. 
 “Physical
Notes” means permanent certificated Notes in registered form issued in denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof. 

“Place of Payment” means, with respect to the Notes, the location of the office or agency maintained by the Company pursuant
to Section 4.01(a). 
 “Prospectus Supplement” means the preliminary prospectus supplement dated June 13, 2019,
as supplemented by the pricing term sheet dated June 13, 2019, and by the prospectus supplement dated June 13, 2019 relating to the offering and sale of the Notes. 

“Redemption Date” shall have the meaning specified in Section 8.03(a). 

“Redemption Notice” shall have the meaning specified in Section 8.03(a). 

  
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 “Redemption Price” means, for any Notes to be redeemed pursuant to
Section 8.02, either (X) prior to the Par Call Date, the greater of (i) 100% of the aggregate principal amount of such Notes, or (ii) the sum of the present values of the remaining scheduled payments of principal of and interest on
the Notes to be redeemed, calculated from the Redemption Date to the Par Call Date (not including any portion of such payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 50 basis points, as calculated by an Independent Investment Banker or (Y) on or after
the Par Call Date, 100% of the aggregate principal amount of such Notes. In each case, the Redemption Price is payable together with accrued and unpaid interest on the Notes to, but excluding the Redemption Date. 

“Reference Treasury Dealer” means (i) each of RBC Capital Markets, LLC, Goldman Sachs & Co. LLC, Barclays
Capital Inc., Credit Suisse Securities (USA) LLC and a Primary Treasury Dealer (as defined below) selected by U.S. Bancorp Investments, Inc., or their respective successors or affiliates, and one other nationally recognized investment banking firm
that is a primary U.S. Government securities dealer specified from time to time by the Company and its successors; provided that, if any of the foregoing ceases to be a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”), the Company will substitute another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Company. 

“Reference Treasury Dealer Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the
average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at
3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Registrar” means an office or
agency where Notes may be presented for registration of transfer or for exchange. The term “Registrar” includes any co-registrar. 

“Regular Record Date,” with respect to any Interest Payment Date, shall mean the March 1 or September 1 (whether or
not such day is a Business Day) immediately preceding the applicable March 15 or September 15 Interest Payment Date, respectively. 

“Remaining Life” the remaining term of the Notes to be redeemed (assuming for this purpose that such Notes matured on the Par
Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes to be redeemed (assuming
for this purpose that such Notes matured on the Par Call Date). 
 “Security Register” means the register of the Notes and
of transfers and exchanges thereof required to be kept by the Registrar pursuant to Section 2.06 of the Original Indenture. 

“Successor Company” shall have the meaning specified in Section 7.02(a). 

  
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 “Supplemental Indenture” has the meaning specified in the first paragraph
of this Supplemental Indenture. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of
this Supplemental Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of the Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder. 

ARTICLE II 
 ISSUE,
DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 

Section 2.01. Designation and Amount; Payments. The Notes are hereby created and authorized as a single series of Securities under
the Original Indenture. The Notes shall be designated as the “4.875% Senior Notes due 2027”. The aggregate principal amount of Notes that may be authenticated and delivered under the Indenture is initially limited to $450,000,000, subject
to Section 2.06 and except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of other Notes pursuant to Section 2.09, Section 2.10, Section 2.12 and Section 10.05 of the
Original Indenture and Section 8.03 of this Supplemental Indenture. 
 The principal amount of Notes then outstanding shall be payable
on the Maturity Date. The Notes will bear interest at a rate of 4.875% per year from June 24, 2019, or from the most recent date on which interest had been paid or provided for, until the principal thereof is paid or made available for payment.
Interest is payable on each Interest Payment Date, beginning on March 15, 2020, to the Person in whose name a Note is registered on the Security Register at the close of business on the Regular Record Date immediately preceding the applicable
Interest Payment Date. If any Interest Payment Date, the Maturity Date or a Redemption Date falls on a day that is not a Business Day, the required payment shall be made on the next succeeding Business Day and no interest on such payment shall
accrue in respect of such delay. 
 The Notes shall be the direct, unsecured obligations of the Company and will rank equally with each
other and with all other existing and future unsecured and unsubordinated indebtedness of the Company. 
 Section 2.02. Form of
Notes. The Notes shall be substantially in the form set forth in Exhibit A, the terms and provisions of which shall constitute, and are hereby expressly incorporated in and made a part of the Indenture. To the extent applicable, the Company and
the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 Any
Global Note may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of the Indenture as may be required by the Note Custodian or the Depositary, or as may be required to
comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange or automated quotation system upon which the Notes may be listed or traded or designated for issuance or to conform with any
usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Notes are subject. 

  
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 Each Global Note shall represent such principal amount of the Outstanding Notes as shall be
specified therein and shall provide that it shall represent the aggregate principal amount of Outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of Outstanding Notes represented thereby may from time to time
be increased or reduced to reflect redemptions, repurchases, transfers or exchanges permitted hereby. Any endorsement of the Global Note to reflect the amount of any increase or decrease in the amount of Outstanding Notes represented thereby shall
be made on the Schedule of Exchanges of Notes to such Global Note by the Trustee or the Note Custodian, at the direction of the Trustee, in such manner and upon instructions given by the Holder of such Notes in accordance with the Indenture. 

Section 2.03. Depositary. 

(a)    So long as the Notes are eligible for book-entry settlement with the Depositary, unless otherwise required by law,
all Notes shall be represented by one or more Global Securities to which the provisions of Section 2.01, Section 2.09 and Section 2.15 of the Original Indenture apply (each, a “Global Note”) registered in the name of
the Depositary or the nominee of the Depositary. The transfer and exchange of beneficial interests in a Global Note that does not involve the issuance of a Physical Note, shall be effected through the Depositary (but not the Trustee or the Note
Custodian) in accordance with the Indenture (including the restrictions on transfer set forth herein) and the Applicable Procedures of the Depositary therefor. 

(b)    The Depositary shall be a clearing agency registered under the Exchange Act. The Company initially appoints The
Depository Trust Company, a New York corporation (“DTC”), to act as Depositary with respect to each Global Note. Initially, each Global Note shall be issued to the Depositary, registered in the name of Cede & Co., as the
nominee of the Depositary, and deposited with the Trustee as custodian for DTC. 
 (c)    Section 2.09(d) of the
Original Indenture is hereby amended and restated in full, with respect to the Notes, to read as follows: 
 “Physical Notes shall be
issued and delivered by the Company (i) to each Person that DTC identifies as a beneficial owner of the related Securities only if (a) DTC has notified the Company that it is unwilling or unable to continue as depositary for the Global
Securities of the relevant series and a successor depositary is not appointed within 90 calendar days or (b) DTC ceases to be registered as a clearing agency under the Exchange Act and a successor depositary is not appointed within 90 calendar
days or (ii) if an Event of Default with respect to the Securities of any series has occurred and is continuing, to each beneficial owner who requests that its beneficial interests in the Securities be exchanged for Securities in definitive
form.” 
 (d)    Notwithstanding anything to the contrary in the Indenture (including, without limitation,
Section 1.01, Section 2.01, Section 2.09 and Section 2.15 of the Original Indenture) or the Notes, following the occurrence and during the continuance of an Event of Default, any 

  
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beneficial owner of a Global Note may directly enforce against the Company, without the consent, solicitation, proxy, authorization or any other action of the Depositary or any other Person, such
beneficial owner’s right to exchange its beneficial interest in such Global Note for a Physical Note in accordance with Section 1.05 of the Original Indenture. 

(e)    At such time as all interests in a Global Note have been canceled, repurchased or transferred, such Global Note
shall be, upon receipt thereof, canceled by the Trustee in accordance with Applicable Procedures. At any time prior to such cancellation, if any interest in a Global Note is exchanged for Physical Notes, canceled, repurchased or transferred to a
transferee who receives Physical Notes therefor or any Physical Note is exchanged or transferred for part of such Global Note, the principal amount of such Global Note shall, in accordance with the standing procedures and instructions existing
between the Depositary and the Note Custodian, be appropriately reduced or increased, as the case may be, and an endorsement shall be made on the Schedule of Exchanges of Notes to such Global Note, by the Trustee or the Note Custodian, at the
direction of the Trustee, to reflect such reduction or increase. 
 Section 2.04. Cancellation of Surrendered Notes. The Company
shall cause all Notes surrendered for payment, repurchase (including pursuant to Section 2.06), redemption, registration of transfer or exchange, if surrendered to any Person other than the Trustee (including any of the Company’s Agents,
Subsidiaries or Affiliates), to be delivered to the Trustee for cancellation pursuant to Section 2.13 of the Original Indenture. All Notes delivered to the Trustee shall be cancelled promptly by the Trustee. No Notes shall be authenticated in
exchange for any Notes cancelled hereunder or under the Original Indenture. 
 Section 2.05. Notice of Defaults. The Company
shall deliver to the Trustee, at its Corporate Trust Office, in accordance with Section 13.02 of the Original Indenture, within 30 calendar days after the occurrence thereof, an Officers’ Certificate containing notice of any events that
would constitute Defaults, the status thereof and what action the Company is taking or proposes to take in respect thereof, which notice shall make express reference to the Company, the Indenture and the Notes. 

Section 2.06. Additional Notes; Repurchases. The Company may, without the consent of the Holders of the Notes and notwithstanding
Section 2.01, reopen this Supplemental Indenture and issue additional Notes hereunder with the same terms as the Notes initially issued hereunder in an unlimited aggregate principal amount; provided that if any such additional Notes are
not fungible with the Notes initially issued hereunder for U.S. federal income tax purposes, such additional Notes shall have a separate CUSIP number. Prior to the issuance of any such additional Notes, the Company shall deliver to the Trustee a
Company Order, an Officers’ Certificate and an Opinion of Counsel, such Officers’ Certificate and Opinion of Counsel to cover such matters, in addition to those required by Section 13.05 of the Original Indenture, as the Trustee shall
reasonably request. In addition, the Company may, to the extent permitted by law, and directly or indirectly (regardless of whether such Notes are surrendered to the Company), repurchase Notes in the open market or otherwise, whether by the Company
or its Subsidiaries or through a private or public tender or exchange offer or through counterparties to private agreements, including by cash-settled swaps or other derivatives. The Company shall cause any Notes so repurchased to be surrendered to
the Trustee for cancellation, and such Notes shall no longer be considered Outstanding under the Indenture upon the repurchase thereof. 

  
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 Section 2.07. Payments on Physical Notes. The Company shall pay interest on any
Physical Notes (A) to Holders having an aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of such Notes at their address as it appears in the Security Register and (B) to Holders having an aggregate principal
amount of more than $5,000,000, either by check mailed to each such Holder or, upon application by a Holder to the Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder’s
account within the United States, which application shall remain in effect until the Holder notifies the Registrar, in writing, to the contrary. 

ARTICLE III 

SATISFACTION AND DISCHARGE 

Section 3.01. Applicability of Article 8 and Article 9 of the Original Indenture. 

(a)    Article 8 of the Original Indenture shall not apply to the Notes. Instead, the satisfaction and discharge provisions
set forth in this Article III shall, with respect to the Notes, supersede in its entirety Article 8 of the Original Indenture and all references in the Original Indenture to Article 8 thereof and satisfaction and discharge provisions therein, as the
case may be, shall, with respect to the Notes, be deemed to be references to this Article III and the satisfaction and discharge provisions set forth in this Article III. 

(b)    Article 9 of the Original Indenture shall not apply to the Notes. 

Section 3.02. Satisfaction and Discharge. This Supplemental Indenture shall upon request of the Company contained in an
Officers’ Certificate cease to be of further effect, and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Supplemental Indenture, when: (a) (i) all Notes
theretofore authenticated and delivered (other than Notes which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.10 of the Original Indenture) have been delivered to the Trustee for cancellation;
or (ii) the Company has deposited with the Trustee or delivered to Holders of the Notes, as applicable, after the Notes have become due and payable, whether at the Maturity Date or any Redemption Date, cash sufficient to pay all of the
Outstanding Notes, as the case may be, and pay all other sums due and payable under this Supplemental Indenture by the Company; and (b) 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 Supplemental Indenture have been complied with. Notwithstanding the satisfaction and discharge of this Supplemental Indenture, the
obligations of the Company to the Trustee under Section 7.06 of the Original Indenture shall survive. 

  
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 ARTICLE IV 

PARTICULAR COVENANTS OF THE COMPANY 

Section 4.01. Maintenance of Office or Agency. 

(a)    The Company shall maintain at all times an office or agency in the continental United States, or cause an office or
agency in the continental United States to be maintained, to serve as Paying Agent and Registrar for the Notes. 

(b)    The Company hereby initially designates the Trustee as the Paying Agent, Registrar and Note Custodian and the
Corporate Trust Office and the office or agency of the Trustee in the Place of Payment each shall be considered as one office or agency of the Company where the Notes may be presented or surrendered for payment or surrendered for transfer or
exchange and where notices and demands to or upon the Company in respect of the Notes and the Indenture may be served. 
 Section 4.02.
Additional Covenants. 
 (a)    Neither the Company nor any of its Subsidiaries shall create, assume, incur or
permit to exist any Indebtedness secured by any lien on the present or future capital stock of any Designated Subsidiary unless the Notes, and at the Company’s election, any other Indebtedness of the Company that is not subordinated to the
Notes and with respect to which the governing instruments require, or pursuant to which the Company is otherwise obligated, to provide such security, are secured equally and ratably with such Indebtedness for at least the time period this
Indebtedness is so secured. Notwithstanding the foregoing, the Company may, without securing the Notes or such other Indebtedness, incur liens existing on such capital stock before the acquisition thereof by the Company or any Designated Subsidiary
so long as (1) such lien was in existence prior to, and is not created in contemplation of or in connection with, such acquisition, (2) such lien will not apply to capital stock of any other Designated Subsidiary and (3) such lien
will secure only those obligations which it secures on the date of such acquisition, and extensions, renewals and replacements of the foregoing liens that do not increase the outstanding principal amount secured by such liens and do not extend to
capital stock of any other Designated Subsidiary. 
 (b)    Neither the Company nor any of the Designated Subsidiaries
shall issue, sell, transfer or dispose of capital stock of a Designated Subsidiary, except to the Company or one of its Subsidiaries that agrees to hold the transferred shares subject to the terms of this sentence, unless (1) the Company
disposes of the entire capital stock of the Designated Subsidiary at the same time for cash or property which, in the opinion of the Company’s Board of Directors, is at least equal to the fair market value of the capital stock or (2) the
Company sells, transfers or otherwise disposes of any capital stock of a Designated Subsidiary for at least fair market value (in the opinion of the Company’s Board of Directors) and, after giving effect thereto, the Company and its
Subsidiaries would own more than 80% of the issued and outstanding voting stock of such Designated Subsidiary. 

  
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 ARTICLE V 

DEFAULTS AND REMEDIES 

Section 5.01. Applicability of Article 6 of the Original Indenture. Article 6 of the Original Indenture shall apply to the Notes.

 Section 5.02. Events of Default. The following is an additional “Event of Default” with respect to the
Notes: 
 (a)    default in the payment of the Redemption Price upon an Optional Redemption of the Notes under Article
VIII of this Supplemental Indenture. 
 ARTICLE VI 

SUPPLEMENTAL INDENTURES 

Section 6.01. Supplemental Indentures Without Consent of Holders. Subject to Section 6.02 hereof and
Section 10.02 of the Original Indenture, the Company, when authorized by the Board Resolutions, and the Trustee, at the Company’s expense, at any time and from time to time, may, without notice to or the consent of any Holder, enter into
one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes, in addition to the purposes set forth in Section 10.01 of the Original Indenture: 

(a)    cure any ambiguity, omission, defect or inconsistency in the Indenture; 

(b)    provide for the assumption by a Successor Company of the Company’s obligations under the Indenture and the
Notes, in accordance with the provisions of Article VII; 
 (c)    make any change that does not adversely affect the
rights of any Holder; or 
 (d)    conform the provisions of the Indenture to the section entitled “Description of
Debt Securities” as set forth in the prospectus dated February 27, 2017, as supplemented and amended by the “Description of the Notes” section in the Prospectus Supplement. 

For purposes of the Notes, clauses (a), (d) and (j) of Section 10.01 of the Original Indenture shall be deemed to be deleted in
their entirety. 
 Section 6.02. Supplemental Indentures With Consent of Holders. With the consent of the Holders
of at least a majority of the aggregate principal amount of the Notes then Outstanding (including, without limitation, consents obtained in connection with a repurchase of, or tender or exchange offer for, Notes), the Company, when authorized by the
Board Resolutions and the Trustee, at the Company’s expense, may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or any supplemental indenture or of modifying in any manner the rights of the Holders; provided that, in addition to the restrictions set forth in the first sentence of Section 10.02 of the
Original Indenture, without the written consent of each Holder of an Outstanding Note affected thereby, no such supplemental indenture may: 

(a)    reduce the Redemption Price or make any other change to the provisions set forth under Article VIII that is adverse
to Holders in any way; or 

  
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 (b)    modify the amendment provisions contained in this
Section 6.02 or Section 10.02 of the Original Indenture or the waiver provisions contained in Section 6.09 of the Original Indenture, except to increase the percentage of the principal amount of Notes whose Holders are required to
consent to a supplemental indenture or waiver, or to provide that certain other provisions of the Indenture may not be modified or waived without the consent of the Holder of each Outstanding Note affected thereby. 

The portion of the second sentence of Section 10.02 of the Original Indenture preceding clause (a) thereof is hereby amended and
restated, with respect to the Notes, to read as follows: 
 “Notwithstanding anything in the Indenture to the contrary,
no supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby:” 
 For purposes of
the Notes, clause (i) of Section 10.02 of the Original Indenture shall be deemed to be deleted in its entirety. 

Section 6.03. Notice to Holders of Supplemental Indentures. The Company shall cause notice of the execution of any supplemental
indenture entered into pursuant to this Article VI or pursuant to Article 10 of the Original Indenture to be promptly mailed to each Holder, at its address appearing on the Security Register provided for in this Supplemental Indenture. Failure to
give such notice to all Holders, or any defect in such notice, shall not impair or affect the validity of such supplemental indenture. Such notice shall briefly describe the amendment made under the relevant supplemental indenture. 

Section 6.04. Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee. For the avoidance of doubt,
Section 10.06 of the Original Indenture shall apply to any supplemental indenture entered into pursuant to this Article VI as if it had been entered into pursuant to Article 10 of the Original Indenture. 

ARTICLE VII 

CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE 

Section 7.01. Applicability of Article 5 of the Original Indenture. Article 5 of the Original Indenture shall not apply to the
Notes. The provisions set forth in this Article VII shall, with respect to the Notes, supersede in their entirety Article 5 of the Original Indenture, and all references in the Original Indenture to Article 5 thereof shall, with respect to the
Notes, be deemed to be references to this Article VII. 

  
 - 14 - 

 Section 7.02. Company May Consolidate, etc. on Certain Terms. Subject to the
provisions of Section 7.03, the Company shall not consolidate with, merge with or into, or sell, convey, transfer or lease all or substantially all of its assets to, another Person, unless: 

(a)    the resulting, surviving or transferee Person (the “Successor Company”), if not the Company, shall
be a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and the Successor Company (if not the Company) shall expressly assume, by supplemental indenture all of the
obligations of the Company under the Notes and the Indenture; and 
 (b)    immediately after giving effect to the
transaction, no Default or Event of Default shall have occurred and be continuing. 
 For purposes of this Section 7.02, the sale,
conveyance, transfer or lease of all or substantially all of the assets of one or more Subsidiaries of the Company to another Person, which assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the
assets of the Company on a consolidated basis, shall be deemed to be the sale, conveyance, transfer or lease of all or substantially all of the assets of the Company to another Person. 

Section 7.03. Successor Company to be Substituted. Upon any such consolidation, merger or sale, conveyance, transfer or lease, the
Successor Company (if not the Company) shall succeed to, and may exercise every right and power of, the Company under the Indenture with the same effect as if such successor had been named as the Company herein; and thereafter the Company shall be
discharged from its obligations under the Notes and this Indenture, except in the case of any such lease. 
 In case of any such
consolidation, merger, sale, conveyance, transfer or lease, such changes in phraseology and form (but not in substance) may be made in the Notes thereafter to be issued as may be appropriate. 

Section 7.04. Opinion of Counsel to be Given to Trustee. The Company shall not enter into any consolidation, merger, sale,
conveyance, transfer or lease subject to Section 7.02 unless the Trustee shall have received an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or lease
and any such assumption and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture, complies with the provisions of this Article VII. 

ARTICLE VIII 

OPTIONAL REDEMPTION 

Section 8.01. Applicability of Article 3 of the Original Indenture. Article 3 of the Original Indenture shall not apply to the
Notes. Instead, the provisions set forth in this Article VIII shall, with respect to the Notes, supersede in its entirety Article 3 of the Original Indenture and all references in the Original Indenture to Article 3 thereof and the provisions
therein, as the case may be, shall, with respect to the Notes, be deemed to be references to this Article VIII and the provisions set forth in this Article VIII. 

Section 8.02. Right to Redeem; Notices to Trustee. No sinking fund is provided for the Notes. The Company has the option to redeem
the Notes (an “Optional Redemption”), at any time in whole or in part, upon not less than 15 nor more than 60 days’ notice, at the applicable Redemption Price. 

  
 - 15 - 

 Section 8.03. Notice of Optional Redemption; Selection of Notes.  

(a)    In case the Company exercises its Optional Redemption right to redeem all or, as the case may be,
any part of the Notes pursuant to Section 8.02, it shall fix a date for redemption (each, a “Redemption Date”) and it or, at its written request received by the Trustee not less than 65 calendar days prior to the Redemption
Date (or such shorter period of time as may be acceptable to the Trustee), the Trustee, in the name of and at the expense of the Company, shall provide or cause to be provided a notice of such Optional Redemption (a “Redemption
Notice”) not less than 15 nor more than 60 calendar days prior to the Redemption Date to each Holder of Notes so to be redeemed as a whole or in part at its last address as the same appears on the Security Register; provided,
however, that, if the Company shall give such notice, it shall also give written notice of the Redemption Date to the Trustee. 

(b)    The Redemption Notice, if mailed in the manner herein provided, shall be conclusively presumed to
have been duly given, whether or not the Holder receives such notice. In any case, failure to give such Redemption Notice or any defect in the Redemption Notice to the Holder of any Note designated for redemption as a whole or in part shall not
affect the validity of the proceedings for the redemption of any other Note. 
 (c)    Each Redemption
Notice shall specify: 
 (i)    the Redemption Date; 

(ii)    the Redemption Price; 

(iii)    that on the Redemption Date, the Redemption Price will become due and payable upon each Note to be
redeemed, and that interest thereon, if any, shall cease to accrue on and after the Redemption Date; 

(iv)    the place or places where such Notes are to be surrendered for payment of the Redemption Price;

 (v)    the CUSIP, ISIN or other similar numbers, if any, assigned to such Notes; and 

(vi)    in case any Note is to be redeemed in part only, the portion of the principal amount thereof to be
redeemed and on and after the Redemption Date, upon surrender of such Note, a new Note in principal amount equal to the unredeemed portion thereof shall be issued. 

A Redemption Notice shall be irrevocable. 

(d)    If fewer than all of the outstanding Notes are to be redeemed and the Notes are in the form of
Global Notes, the Depositary will select the Notes to be redeemed. If fewer than 

  
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all of the outstanding Notes are to be redeemed and the Notes are in the form of Physical Notes, the Trustee shall select the Notes or portions thereof to be redeemed (in principal amounts of
$2,000 or integral multiples of $1,000 in excess thereof) by lot, on a pro rata basis or by another method the Trustee considers to be fair and appropriate. 

Section 8.04. Payment of Notes Called for Redemption. 

(a)    If any Redemption Notice has been given in respect of the Notes in accordance with
Section 8.03, the Notes shall become due and payable on the Redemption Date at the place or places stated in the Redemption Notice and at the applicable Redemption Price. On presentation and surrender of the Notes at the place or places stated
in the Redemption Notice, the Notes shall be paid and redeemed by the Company at the applicable Redemption Price. 

(b)    Prior to 9:00 am., New York City time, on the Redemption Date, the Company shall deposit with the
Paying Agent or, if the Company or a Subsidiary of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.07 of the Original Indenture an amount of cash (in immediately available funds if deposited
on the Redemption Date), sufficient to pay the Redemption Price of all of the Notes to be redeemed on such Redemption Date. Subject to receipt of funds by the Paying Agent, payment for the Notes to be redeemed shall be made promptly after the later
of: 
 (i)    the Redemption Date for such Notes; and 

(ii)    the time of presentation of such Note to the Trustee (or other Paying Agent appointed by the
Company) by the Holder thereof in the manner required by this Section 8.04. 
 (c)    Upon surrender
of a Note that is to be redeemed in part only pursuant to Section 8.02, the Company shall execute and the Trustee shall authenticate and deliver to the Holder a new Note in an authorized denomination equal in principal amount to the unredeemed
portion of the Note surrendered, without payment of any service charge. 
 Section 8.05. Restrictions on Redemption. The Company
may not redeem any Notes on any date if the principal amount of the Notes has been accelerated in accordance with the terms of the Indenture, and such acceleration has not been rescinded, on or prior to the Redemption Date (except in the case of an
acceleration resulting from a Default by the Company in the payment of the Redemption Price with respect to such Notes). 
 ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01. Governing Law. THE INDENTURE AND EACH NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS
OF THE STATE OF NEW YORK, WITH REFERENCE TO CONFLICTS OF LAWS. 
 Section 9.02. No Security Interest Created. Nothing in the
Indenture or in the Notes, expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction. 

  
 - 17 - 

 Section 9.03. Notices. Any notices required to be given to Holders of the Notes,
to the extent such Notes are represented by one or more Global Notes, will be given to the Depositary of the Notes. Conveyance of notices and other communications by DTC to direct participants, by direct participants to indirect participants, and by
direct participants and indirect participants to beneficial owners of the Notes will be governed by arrangements among them, subject to any statutory requirements as may be in effect from time to time. 

Section 9.04. Benefits of Indenture. Nothing in the Indenture or in the Notes, expressed or implied, shall give to any Person,
other than the parties hereto, any Paying Agent, any authenticating agent, any Registrar and their successors hereunder or the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim under the Indenture. 

Section 9.05. Effect of Headings. The article and section headings herein and in the Table of Contents are for convenience only
and shall not affect the construction hereof. 
 Section 9.06. Supplemental Indenture May be Executed in Counterparts. This
Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of
signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of
the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 
 Section 9.07.
Severability. In case any provision in the Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 9.08. Ratification of Original Indenture. Except as amended hereby with respect to the Notes, the Original Indenture, as
amended and supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided. For the
avoidance of doubt, each of the Company and each Holder of the Notes, by its acceptance of such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee under the Original
Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee, whether acting as Trustee, Paying Agent or Registrar hereunder, as if set forth herein in full. 

Section 9.09. Calculations. The Company shall be responsible for making all calculations called for under the Notes. These
calculations include, but are not limited to, determinations of the accrued interest payable on the Notes. The Company shall make all these calculations in good faith and, absent manifest error, the Company’s calculations shall be final and
binding on Holders of the Notes. The Company shall provide a schedule of its calculations to 

  
 - 18 - 

 
the Trustee, and the Trustee is entitled to rely conclusively upon the accuracy of the Company’s calculations without independent verification. The Trustee shall forward the Company’s
calculations to any Holder of Notes upon the request of such Holder at the sole cost and expense of the Company. Neither the Trustee nor Paying Agent shall be responsible or liable for the calculations of the Company. 

Section 9.10. No Personal Liability. None of the Company’s directors, officers, employees, incorporators or stockholders or
those of any of the Company’s Subsidiaries, as such, shall have any liability for any of the Company’s obligations under the Notes, or for any claim based on, in respect of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

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

			
	RADIAN GROUP INC.
		
	By:	 	 /s/ J. Franklin Hall

	Name:	 	J. Franklin Hall
	Title:	 	Senior Executive Vice President and Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ George J. Rayzis

	Name:	 	 George J. Rayzis

	Title:	 	Vice President, Global Corporate Trust

  
 [Signature page to
Sixth Supplemental Indenture] 

 EXHIBIT A 

FORM OF FACE OF NOTE 
 INCLUDE
FOLLOWING LEGEND IF A GLOBAL NOTE 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH
THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN. 

 RADIAN GROUP INC. 

4.875% Senior Notes due 2027 
  

			
	No. 1	  	Initially $450,000,000
	CUSIP No. 750236 AW1	  	
	ISIN No. US750236AW16	  	

 Radian Group Inc., a corporation duly organized and validly existing under the laws of the State of Delaware
(the “Company,” which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value received hereby promises to pay to Cede & Co., or registered assigns, the
principal sum as set forth in the “Schedule of Exchanges of Notes” attached hereto, which amount, taken together with the principal amounts of all other Outstanding Notes, shall not, unless permitted by the Indenture, exceed $450,000,000
in aggregate at any time, in accordance with the rules and procedures of the Depositary, on March 15, 2027, and interest thereon as set forth below. 

This Note shall bear interest at the rate of 4.875% per year from June 24, 2019, or from the most recent date on which interest had been
paid or provided for to, but excluding, the next scheduled Interest Payment Date until March 15, 2027. Interest is payable semi-annually in arrears on each March 15 and September 15, commencing on March 15, 2020, to Holders of
record of the Notes at the close of business on the preceding March 1 and September 1 (whether or not such day is a Business Day), respectively. If any Note subject to redemption shall not be paid upon surrender thereof for redemption, the
principal shall, until paid, bear interest from the Redemption Date at 4.875% per year until such Note is repaid; no Additional Interest (as defined in Section 6.03 of the Original Indenture) shall apply. 

The Company shall pay the principal of and interest on this Note, so long as such Note is a Global Note, in immediately available funds to the
Depositary or its nominee, as the case may be, as the registered Holder of such Note. As provided in and subject to the provisions of the Indenture, the Company shall pay the principal of any Notes (other than Notes that are Global Notes) at the
office or agency designated by the Company for that purpose. The Company has initially designated the Trustee as its Paying Agent and Registrar in respect of the Notes and its agency at its Corporate Trust Office as a place where Notes may be
presented for payment or for registration of transfer. 
 Reference is made to the further provisions of this Note set forth on the reverse
hereof. 
 This Note shall be governed by and construed in accordance with the laws of the State of New York. 

In the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern. 

This Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually
signed by the Trustee or a duly authorized authenticating agent under the Indenture. 

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

			
	RADIAN GROUP INC.
		
	By:	 	
                     
                                        

	Name:	 	
	Title:	 	

 Dated: June 24, 2019 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

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

	Authorized Signatory

 FORM OF REVERSE OF NOTE 

RADIAN GROUP INC. 
 4.875% Senior
Notes due 2027 
 This Note is one of a duly authorized issue of Securities of the Company, designated as its 4.875% Senior Notes due 2027
(the “Notes”), limited to the aggregate principal amount of $450,000,000, all issued or to be issued under and pursuant to the Senior Indenture dated as of March 4, 2013 (the “Original Indenture”), as amended
and supplemented by the Sixth Supplemental Indenture dated as of June 24, 2019 (herein called the “Supplemental Indenture”; the Original Indenture, as amended and supplemented by the Supplemental Indenture, and as it may be
further amended or supplemented from time to time, the “Indenture”), by and between the Company and U.S. Bank National Association (the “Trustee”) to which Indenture and all indentures supplemental thereto 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 of the Notes. Additional Notes may be issued in an unlimited aggregate principal amount,
subject to certain conditions specified in the Indenture. 
 In case an Event of Default, as defined in the Indenture, shall have occurred
and be continuing, the principal of, and interest on, all Notes may be declared, by either the Trustee or Holders of at least 25% in aggregate principal amount of Notes then Outstanding, and upon said declaration shall become, due and payable, in
the manner, with the effect and subject to the conditions and certain exceptions set forth in the Indenture. 
 Subject to the terms and
conditions of the Indenture, the Company will make all payments and deliveries in respect of the Redemption Price and the principal amount on the Maturity Date, as the case may be, to the Holder who surrenders a Note to a Paying Agent to collect
such payments in respect of the Note. The Company shall pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts. 

The Indenture contains provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders of the
Notes, and in certain other circumstances, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time Outstanding, evidenced as in the Indenture provided, to execute supplemental indentures
modifying the terms of the Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to certain exceptions, the Holders of a majority in aggregate principal amount of the Notes at the time Outstanding may on
behalf of the Holders of all of the Notes waive any past Default or Event of Default under the Indenture and its consequences. 
 No
reference herein to the Indenture and 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 the principal of, the Redemption Price, if applicable, of, and
accrued and unpaid interest on this Note at the place, at the respective times, in the amounts and, if applicable, in the lawful money herein prescribed. 

 The Notes are issuable in registered form without coupons in denominations of $2,000
principal amount and integral multiples of $1,000 in excess thereof. At the office or agency of the Company referred to on the face hereof, and in the manner and subject to the limitations provided in the Indenture, Notes may be exchanged for a like
aggregate principal amount of Notes of other authorized denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient to cover any transfer tax or similar governmental charge
required by law or that may be imposed in connection therewith as a result of the name of the Holder of the new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such exchange. 

The Notes shall be redeemable at the Company’s option in accordance with the terms and conditions specified in the Indenture. 

Terms used in this Note and defined in the Indenture are used herein as therein defined. 

 ABBREVIATIONS 

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

UNIF GIFT MIN ACT = Uniform Gifts to Minors Act 
 CUST = Note
Custodian 
 TEN ENT = as tenants by the entireties 
 JT TEN =
joint tenants with right of survivorship and not as tenants in common 
 Additional abbreviations may also be used though not in the above
list. 

 SCHEDULE A 

SCHEDULE OF EXCHANGES OF NOTES 

RADIAN GROUP INC. 
 4.875% Senior
Notes due 2027 
 The initial principal amount of this Global Note is $450,000,000. The following increases or decreases in this Global Note
have been made: 
  

																	
	 Date of

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

 ATTACHMENT 1 

FORM OF ASSIGNMENT AND TRANSFER 
 For value
received                  hereby sell(s), assign(s) and transfer(s) unto                 
(Please insert Social Security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and appoints                  attorney
to transfer the said Note on the books of the Company, with full power of substitution in the premises. 
  

	
	
                    

	
                    

	Signature(s)
	
	Signature(s) must be guaranteed by an institution which is a member of one of the following recognized signature Guarantee Programs:
	
	(i) The Securities Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP) or (iv) another guarantee program acceptable to the
Trustee.
	
	
                    

	
                    

	Signature GuaranteeBlueprint

 

Exhibit 10.1

 

SETTLEMENT AND RELEASE AGREEMENT

 

THIS SETTLEMENT AND RELEASE
AGREEMENT (this
“Agreement”),
dated as of June 7, 2019 (the “Effective Date”), is
entered into by and among (i) BLOCKCHAIN INDUSTRIES, INC., a
corporation incorporated under the laws of the State of Nevada (the
“Company”),
and (ii) PATRICK MOYNIHAN, an individual residing at 1502 Idaho
Avenue, Santa Monica, California 90403 (the
“Executive”).
The Company and the Executive are collectively referred to herein
as the “Parties,” or each of them individually as a
“Party”.

 

WHEREAS, the Executive is presently the chief executive
officer of the Company;

 

WHEREAS, the Executive and the Company desire to
terminate the Executive’s employment effective upon the
execution hereof and subject to the terms and conditions herein
contained;

 

WHEREAS, subject to the terms and conditions herein
contained, the Parties now wish to fully and finally resolve their
disputes and all claims that could have been raised in any legal
form or forum, including in litigation or any other proceeding, and
any claims that the Parties ever had against each other, now have,
or may hereafter have for or by reason of any cause, action, event,
statement, omission or failure to act, matter or thing whatsoever,
occurring on or prior to the Effective Date and/or arising out of
the Parties’ disputes, from the beginning of time until the
end of time.

 

NOW, THEREFORE, IN CONSIDERATION OF THE PROMISES, ACTS, RELEASES
AND OTHER GOOD AND VALUABLE CONSIDERATION HEREINAFTER RECITED, THE
SUFFICIENCY AND RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED, THE
PARTIES HERETO, INTENDING TO BE LEGALLY BOUND, AGREE AS
FOLLOWS:

 

1.

Conditions Precedent
to the Executive’s Release of the Company. The releases contained in Section 5 hereof shall
be effective upon (i) the payment of Ten Thousand United States
Dollars (US$10,000) to the Executive, representing a negotiated
severance payment, by check or electronic wire, no later than ten
(10) business days following the day hereof, (ii) the payment of
Fifteen Thousand United States Dollars (US$15,000) to the
Executive, representing a negotiated severance payment, by check or
electronic wire, no later than thirty (30) business days following
the day hereof, (iii) the payment of Sixty Two Thousand United
States Dollars (US$62,000).to the Executive, representing
negotiated wage salary payments, by check or electronic wire, to be
paid as follows (a) 20,666.66 due by July 15, (b) 20,666.66 due by
August 15, and (c) 20,666.66 due no later than September 30, (iv)
the Company’s consent provided to the company’s
transfer agent, AST Financial, to allow for the transfer of Two
Million (2,000,000) shares of the Company’s common stock held
by Premier Trust, Inc. as Trustee of The Santa Monica Trust to the
Trustee of The Mount Mitchell Trust and (v) the execution of the
escrow agreement (attached as Exhibit A hereto, the
“Escrow
Agreement”) by the
Executive. Notwithstanding the foregoing, the above-referenced
payments shall not be delivered unless and until the Executive
complies with his obligation pursuant to Section 2
hereof.

  

2.

Conditions Precedent
to the Company’s Release of the Executive. The releases contained in Section 5 hereof shall
be effective upon (i) the Executive’s delivery to the Company
of Six Million Five Hundred Thousand (6,500,000) shares of the
Company’s common stock which are presently held by and in the
name of the Executive or Premier Trust, Inc. as Trustee of The
Santa Monica Trust (, the “Executive
Trust”), together with
any and all instruments of transfer, stock powers or any other
documentation necessary or advisable to effectuate the transfer of
said shares of common stock to the Company, (ii) the
Executive’s or the Executive Trust’s delivery to the
Escrow Agent of a share certificate evidencing Five Hundred
Thousand (500,000) shares of the Company’s common stock in
the name of the Executive or the Executive Trust, together with any
and all undated
instruments of transfer, stock powers
or any other documentation necessary or advisable to effectuate the
transfer of said shares of common stock to the Company
(collectively, the “Escrow
Property”) (iii) the
execution of the Escrow Agreement and (iv) the delivery of the
Executive’s resignation from all officers and director
positions he may hold with the Company (to be delivered promptly at
the request of the Company following the date hereof and not before
any such request). The “Escrow Agent” shall mean the
law firm of Lucosky Brookman LLP.

 

3.

Resignation;
Removal. The Executive shall
deliver his resignation from all officer and director positions he
may hold with the Company to the board of directors of the Company
at such time following the date hereof as the Company shall
instruct in writing. The Executive shall not deliver his
resignation prior to any such written instructions from the
Company.

 

 

1

 

 

4.

Escrow
Shares. Subject to the terms
and conditions contained in the Escrow Agreement, the Escrow
Property shall be promptly released to the Executive in the event
that the Company consummates a transaction with Blockchain Exchange
Alliance (including any wholly-owned subsidiary thereof,
“BXA”) prior to December 31, 2020 wherein BXA
purchases, in one or more transactions, greater than fifty one
percent (51%) of the Company’s common equity (or preferred
equity which converts into greater than said percentage of common
equity) (a “Qualified
Transaction”). In the
event that a Qualified Transaction does not occur by the date
specified, the Escrow Property shall be delivered to the Company
and the Company shall be permitted to take any and all actions
necessary or advisable to return the escrowed shares of common
stock to the treasury.

 

5.

Executive
Release. Upon satisfaction of
the conditions precedent contained in Section 1 hereof, the
Executive, on behalf of itself and its direct or indirect
predecessors, successors, parent companies, divisions,
subsidiaries, agents, affiliates, subrogees, insurers, trustees,
trusts, administrators, representatives, personal representatives,
legal representatives, transferees, assigns, successors in interest
of assigns, members and any firm, trust, corporation, partnership,
investment vehicle, fund or other entity managed or controlled by
the Executive, the Executive’s members or in which the
Executive has or had a controlling interest and the respective
consultants, employees, legal counsel, officers, directors,
managers, shareholders, stockholders, owners of any of the
foregoing (collectively, the “Executive
Releasors”), hereby
remise, release, acquit and forever discharge the Company and any
and all of its respective direct or indirect affiliates, parent
companies, divisions, subsidiaries, agents, transferees,
consultants, employees, legal counsel, officers, directors,
managers, shareholders, stockholders, stakeholders, owners,
predecessors, successors, assigns, successors in interest of
assigns, subrogees, insurers, trustees, trusts, administrators,
fiduciaries and representatives, legal representatives, personal
representatives and any firm, trust, corporation or partnership
investment vehicle, fund or other entity managed or controlled by
the Company or in which the Company has or had a controlling
interest, if any (collectively, the “Company
Releasees”), of and from
any and all federal, state, local, foreign and any other
jurisdiction’s statutory or common law claims (including
claims for contribution and indemnification), causes of action,
complaints, actions, suits, defenses, debts, sums of money,
accounts, covenants, controversies, agreements, promises, losses,
damages, orders, judgments and demands of any nature whatsoever, in
law or equity, known or unknown, of any kind, including, but not
limited to, claims or other legal forms of action or from any other
conduct, act, omission or failure to act, whether negligent,
intentional, with or without malice, that the Executive Releasors
ever had, now have, may have, may claim to have, or may hereafter
have or claim to have, against the Company Releasees, from the
beginning of time up to and including the date hereof, including,
but not limited to, any claim relating to Executive’s
employment and/or termination of employment (except worker’s
compensation claims) to the date of this Agreement as well as any
claims of breach of contract, express or implied and/or any claims
of harassment or discrimination (for example, on the basis of
gender, race, age, national origin, handicap or disability or other
protected category) under any federal, state or local law, rule or
regulation including, but not limited to, the New York Human Rights
Law, the Age Discrimination in Employment Act, 29 U.S.C. §
621, et seq.,
Title VII of the Civil Rights Act of 1964, the Americans with
Disabilities Act, the
California Fair Employment and Housing Act, The California Family
Rights Act, the New York Human Rights Law, the Family and Medical
Leave Act of 1993, or any claim arising under the Employment
Retirement Income Security Act (“ERISA”) (except for
claims for vested benefits under ERISA) (the
“Released Executive
Claims”). Nothing in the
foregoing release shall release any claim to enforce this
Agreement.

  

6.

Company
Release. Upon satisfaction of
the conditions precedent contained in Section 2 hereof, the
Company, on behalf of itself and its direct or indirect
predecessors, successors, parent companies, divisions,
subsidiaries, agents, affiliates, subrogees, insurers, trustees,
trusts, administrators, representatives, personal representatives,
legal representatives, transferees, assigns and successors in
interest of assigns, and any firm, trust, corporation, partnership,
investment vehicle, fund or other entity managed or controlled by
the Company or in which the Company has or had a controlling
interest and the respective consultants, employees, legal counsel,
officers, directors, managers, shareholders, stockholders, owners
of any of the foregoing (collectively, the
“Company
Releasors”), in
consideration of the Executive’s execution of this Agreement,
hereby remise, release, acquit and forever discharge the Executive
and any and all of its respective direct or indirect affiliates,
parent companies, divisions, subsidiaries, agents, transferees,
consultants, employees, legal counsel, officers, directors,
managers, members, shareholders, stockholders, stakeholders,
owners, predecessors, successors, assigns, successors in interest
of assigns, subrogees, insurers, trustees, trusts, administrators,
fiduciaries and representatives, legal representatives, personal
representatives and any firm, trust, corporation or partnership
investment vehicle, fund or other entity managed or controlled by
the Executive, the Executive’s members or in which the
Executive has or had a controlling interest, if any (collectively,
the “Executive
Releasees”), of and from
any and all federal, state, local, foreign and any other
jurisdiction’s statutory or common law claims (including
claims for contribution and indemnification), causes of action,
complaints, actions, suits, defenses, debts, sums of money,
accounts, covenants, controversies, agreements, promises, losses,
damages, orders, judgments and demands of any nature whatsoever, in
law or equity, known or unknown, of any kind, including, but not
limited to, claims or other legal forms of action or from any other
conduct, act, omission or failure to act, whether negligent,
intentional, with or without malice, that the Company Releasors
ever had, now have, may have, may claim to have, or may hereafter
have or claim to have, against the Executive Releasees, from the
beginning of time up to and including the date hereof (the
“Released Company
Claims”). Nothing in the
foregoing release shall release any claim to enforce this
Agreement.

 

Notwithstanding anything contained herein to the contrary, the
“Released Company Claims” shall not include any claims
which Paul Kim (“Kim”) may have against the Executive relating
to the Executive’s present debt owing to Kim in the amount of
$58,000, plus any interest or fees. Upon the payment of said
obligation to Kim, the Released Company Claims relating to the
Executive Releases shall equally apply to Kim with respect to said
obligation. It is understood by
both parties that the other half of the Executive’s backpay
that he has waived for himself is to be paid to Paul Kim directly
by the Company for a total of $58,000 to Paul
Kim.

 

Notwithstanding anything contained herein to the contrary, the
“Released Company Claims” shall not include any claims
which the Company may have against the Executive as the result of
claims or actions brought by shareholders of the Company wherein
the cause of said claim or action occurred during a period when the
Executive was engaged by the Company (“Shareholder
Claims”).

 

 

2

 

 

7.

Release of Unknown
Claims:

 

(a) The
Parties stipulate and agree that the Company Releasors and the
Executive Releasors expressly waive the provisions, rights and
benefits conferred by any law of any state or any territory of the
United States or of any other nation, or principle of common law
relating to claims which the Parties did not know or suspect to
exist in the other Party’s favor at the time of executing
this Agreement, which, if known by Parties, would have materially
affected the Executive’s and/or the Company’s
settlement with the other Party; and

 

(b) The
Company Releasors or the Executive Releasors may hereafter discover
facts in addition to or different from those that any of them now
knows or believes to be true, but the Company Releasors and the
Executive Releasors, upon the effectiveness of the respective
releases contained herein pertaining to such Party, fully, finally,
and forever settle and release any and all claims, known or
unknown, suspected or unsuspected, contingent or non-contingent,
whether or not concealed or hidden, that now exist, or heretofore
have existed upon any theory of law or equity now existing or
coming into existence in the future, including, but not limited to,
conduct that is negligent, reckless, intentional, with or without
malice, or a breach of any duty, law or rule, without regard to the
subsequent discovery or existence of such different or additional
facts. The Company Releasors and the Executive Releasors
acknowledge that the inclusion of such “unknown claims”
in this Agreement was separately bargained for and was a key
element of the Agreement, and that each of them assumes the risk of
any mistake of fact or law on its own behalf. If the Parties should
subsequently discover that its understanding of the facts or of the
law was or is incorrect, the Parties shall not be entitled to
relief in connection therewith, including without limitation of the
generality of the foregoing, any alleged right or claim to set
aside or rescind this Agreement. This Agreement is intended to be,
and is, final and binding upon the Parties hereto according to the
terms hereof regardless of any claims of mistake of fact or law.
This Section shall not apply to any Shareholder Claims, which are
expressly excluded in this agreement.

 

8.

No
Action. Upon the satisfaction
of the conditions precedent set forth in Section 2 hereto, the
Company covenants and agrees not to commence or prosecute any
action or proceeding against the Executive based on the Released
Company Claims. Upon the satisfaction of the conditions precedent
set forth in Section 1 hereto, the Executive covenants and agrees
not to commence or prosecute any action or proceeding against the
Executive based on the Released Executive Claims. Executive
affirms, by signing this document, that he has filed no actions or
charges against the Company Releasees relating to, or arising out
of, employment with or termination of employment from the Company
with any federal, state or local agency. Executive further agrees
that he will not personally recover monies for filing any charge or
complaint against the Company Releasees with any federal, state or
local agency regarding his employment with or termination from the
Company in the future. Nothing in this Agreement alters in any way
Executive’s rights and obligations under the Securities and
Exchange Act or in dealing with the Securities and Exchange
Commission.

  

9.

Indemnification.
The Executive shall indemnify, defend and save harmless the Company
and its members, managers, officers, agents and employees from all
loss, liability or expense (including the reasonable fees and
expenses of outside counsel) arising out of or in connection with
any Shareholder Claims. The Executive acknowledges that the
foregoing indemnity shall survive the termination of this
Agreement. Any amounts owing to the Company in connection with this
Section may be offset from the proceeds owing to the Executive in
connection with Section 1 hereof.

 

Preparation of
Agreement. Each Party
represents to the other that its counsel has negotiated and
participated in the drafting of, and are legally authorized to
negotiate and draft, this Agreement. Each Party to this Agreement
acknowledges that this Agreement was drafted jointly by the Parties
hereto and each Party has contributed substantially and materially
to the preparation of this Agreement. The Agreement shall be
construed as having been made and entered into as the result of
arms-length negotiations, entered into freely and without coercion
or duress, between parties of equal bargaining power. It is
acknowledged and agreed that Lucosky Brookman LLP is counsel to the
Company and not the Executive and the Executive has been advised to
seek independent counsel.

 

10.

Acknowledgment of
Waiver of Claims under ADEA.
Executive acknowledges that he is waiving and releasing any rights
he may have under the Age Discrimination in Employment Act of 1967
(“ADEA”) and that this waiver and release is knowing
and voluntary. Executive and the Company agree that this waiver and
release does not apply to any rights or claims that may arise under
ADEA after the effective date of this Agreement. Executive
acknowledges that the consideration given for this waiver and
release is in addition to anything of value to which Executive was
already entitled. Executive further acknowledges that he has been
advised by this writing that (a) he should consult with an attorney
prior to executing this Agreement; (b) he has at least twenty-one
(21) days within which to consider this Agreement and if he takes
fewer than the 21 days to review this Agreement he is thereby
waiving any and all rights to the balance of the 21 day period; (c)
pursuant to the ADEA he has at least seven (7) days following the
execution of this Agreement by the parties to revoke the Agreement
by providing written notice of revocation to the Company and
returning any and all consideration received under this Agreement,
in which case the Agreement becomes null and void; and (d) this
Agreement shall not be effective until the seven day revocation
period has expired. Executive further acknowledges that the only
consideration for signing this Agreement is the terms stated in
this Agreement, and that no other promise or agreements of any kind
have been made to or with him by any person or entity whatsoever to
cause him to sign this Agreement; that he is competent to execute
this Agreement; that the consideration received for executing this
Agreement is greater than that ordinarily provided by the Company
under any severance plan, policy or practice; and that Executive
fully understands the meaning and intent of this Agreement. It is
understood and agreed that this Agreement shall not be effective or
enforceable for a period of seven (7) days following the signing of
the Agreement (the “Effective Date”) and that Executive
may revoke the Agreement for any reason during that period by
written notice actually received during that time by the Company.
It is further understood that no payment shall be made in
accordance with this Agreement until after the Effective
Date.

 

 

3

 

 

11.

Confidentiality.
Except as permitted below, each Party shall maintain the
confidentiality of the Agreement. The negotiations in connection
with this Agreement were and are intended by the Parties to be
privileged settlement discussions, and are confidential; none of
the Parties shall disclose such negotiations unless compelled to do
so by a court of competent jurisdiction. Neither this Agreement,
its contents, terms and conditions, nor any other information
concerning this Agreement or the dispute between the Parties, shall
be disclosed to third parties (including, but not limited to, the
media) without the express written approval of all the Parties,
except as otherwise provided in this Section or as required by
federal or state securities law, rule or regulation. This Agreement
shall not be introduced in evidence or used for any purpose except:
(a) in an action to enforce its provisions; (b) to prove a defense
to a claim or other legal form of action alleged to have been
released herein; (c) in response to an order directed to a Party
from a judicial or governmental authority having jurisdiction over
such Party, in which event the receiving party shall notify the
other Parties of the order; (d) in response to a subpoena or other
process served on a Party (the “Served
Party”) by a third party
seeking to compel the disclosure of this Agreement or its terms, in
which event, however, the Served Party shall notify the other Party
or Parties of such subpoena or process as soon as possible and
grant it or them the opportunity to notify the Served Party in
writing within ten (10) days if the other Party or Parties intend
to move to quash, seek a protective order or take other appropriate
action, and, if so informed, the Served Party shall not make the
disclosure sought by the subpoena or notice unless the relief
sought is denied or the other Party or Party – despite its or
their notice to the contrary – fails to seek the noticed
relief within a reasonable time; (e) if appropriate in a future
action, in an application for a determination that the settlement
between the Parties is a good faith settlement properly subject to
a contribution bar, in which event this Agreement shall be filed
under seal; or (f) as required by federal or state law, rule or
regulation. The Parties also may, to the minimum extent necessary,
disclose this Agreement to the Internal Revenue Service and/or any
state taxing authorities and to the Parties’ respective
attorneys, accountants, auditors, professionals and other financial
advisors/consultants who have a legal or ethical obligation to hold
the terms and information herein confidential, so that they may
perform their professional, business, or financial duties and
obligations. To the extent possible under federal or state law,
rule or regulation, any disclosure by either Party subject to the
confidentiality terms of this Section shall not reference the other
Party. The determination of whether a federal or state law, rule or
regulation requires the disclosure of this Agreement or any term or
provision hereof is left to the sole discretion of the Party making
the disclosure, in consultation with its attorneys, accountants,
auditors, professionals or other financial
advisors/consultants.

 

12.

Non-Disparagement.
The Parties will not make any disparaging or untrue remarks or
statements against any of the Executive Releasees or the Company
Releasees that would adversely affect the reputation of any same,
in any business, professional or personal
community.

  

13.

Exclusive
Rights. The Company hereby
grants the Executive with nonexclusive rights to disclose the
history and/or story of the Company and its founding and business
from date of the establishment of the business until the date
hereof, and the right to sell or license same to a third party only
by written consent of the Company, which consent will not be
unreasonably withheld after arms length negotiation with the
Company in connection with its compensation for any such sale or
license. The Executive shall have rights to disclose the history
and/or story of the Company and its founding and business relating
to any time following the date hereof, but not before December 31,
2020.

 

14.

Expenses.
The Parties agree that each shall be responsible for payment of its
own costs and expenses, including attorneys’ fees, associated
with the negotiation and execution of this Agreement and any
discussions leading thereto.

 

15.

Amendments /
Modifications. This Agreement
shall not be modified, amended, supplemented, or otherwise changed
except by a writing signed by all Parties. The Parties expressly
intend and agree that there shall be no exceptions to this
“oral modification” clause, including, but not limited
to, any present or future claims of partial performance or
equitable estoppel. No parol or oral evidence shall be admitted to
alter, modify or explain the terms of this Agreement, which all
Parties agree is clear and unambiguous.

 

16.

Entire
Agreement. This Agreement
represents the entire agreement of the Parties as to the matters
set forth herein and shall supersede any and all previous
contracts, arrangements or understandings among the
Parties.

 

17.

Counterparts.
This Agreement may be executed in counterparts. The execution of
this Agreement and the transmission thereof by facsimile or e-mail
shall be binding on the Party signing and transmitting same by
facsimile or e-mail fully and to the same extent as if a
counterpart of this Agreement bearing such Party’s original
signature has been delivered.

 

18.

Authorized
Representative. Each signatory
on behalf of a Party to this Agreement represents and warrants that
he or she is a duly authorized representative of that Party, with
full power and authority to agree to this Agreement and all the
terms herein on behalf of that Party, which Party shall be bound by
such signature.

 

19.

Notices.
Any notices, consents, waivers, or other communications required or
permitted to be given under the terms of this Agreement must be in
writing and in each case properly addressed to the Party to receive
the same in accordance with the information below, and will be
deemed to have been delivered: (i) if mailed by certified mail,
return receipt requested, postage prepaid and properly addressed to
the address below, then three (3) business days after deposit of
same in a regularly maintained U.S. Mail receptacle; or (ii) if
mailed by Federal Express, UPS or other nationally recognized
overnight courier service, next business morning delivery, then one
(1) business day after deposit of same in a regularly maintained
receptacle of such overnight courier; or (iii) if hand delivered,
then upon hand delivery thereof to the address indicated on or
prior to 5:00 p.m., EST, on a business day. Any notice hand
delivered after 5:00 p.m., EST, shall be deemed delivered on the
following business day. Notwithstanding the foregoing, notice,
consents, waivers or other communications referred to in this
Agreement may be sent by facsimile, e-mail, or other method of
delivery, but shall be deemed to have been delivered only when the
sending Party has confirmed (by reply e-mail or some other form of
written confirmation) that the notice has been received by the
other Party. The addresses and facsimile numbers for such
communications shall be as set forth below, unless such address or
information is changed by a notice conforming to the requirements
hereof. No notice to or demand on the Parties in any case shall
entitle the Parties to any other or further notice or demand in
similar or other circumstances:

 

 

4

 

 

	
If to the Company:

	
Blockchain Industries, Inc.

	
 

	
730
Arizona Ave., Suite 220

	
 

	
Santa
Monica, CA 90401

	
 

	
Attn:
Paul Kim

	
 

	
E-Mail:

	
 

	
 

	
If to the Executive:

	
Patrick Moynihan

	
 

	
1502
Idaho Avenue

	
 

	
Santa
Monica, California, 90403

	
 

	
E-Mail:

         
           
  

20.

MANDATORY FORUM
SELECTION. THE PARTIES
IRREVOCABLY AGREE THAT ANY DISPUTE ARISING UNDER, RELATING TO, OR
IN CONNECTION WITH, DIRECTLY OR INDIRECTLY, THIS AGREEMENT OR
RELATED TO ANY MATTER WHICH IS THE SUBJECT OF OR INCIDENTAL TO THIS
AGREEMENT (WHETHER OR NOT SUCH CLAIM IS BASED UPON BREACH OF
CONTRACT OR TORT) SHALL BE SUBJECT TO THE EXCLUSIVE JURISDICTION
AND VENUE OF THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK. EACH
PARTY HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION AND VENUE OF
ANY STATE OR FEDERAL COURT HAVING ITS SITUS IN SAID STATE, AND
WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS. EACH PARTY
HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS AND CONSENT
THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY CERTIFIED MAIL,
RETURN RECEIPT REQUESTED, DIRECTED TO THE APPLICABLE PARTY AS SET
FORTH HEREIN IN THE MANNER PROVIDED BY APPLICABLE STATUTE, LAW,
RULE OF COURT OR OTHERWISE.

 

21.

Third Party
Beneficiaries. The Parties
expressly agree that any Executive Releasees or Company Releasees
other than the Executive and the Company, respectively, are third
party beneficiaries of this Agreement and shall be permitted to
bring a cause of action for any breach of this Agreement which
causes damage to said third party
beneficiaries.

 

22.

Voluntary Execution of
Agreement. This Agreement is
executed voluntarily and without any duress or undue influence on
the part or behalf of the Parties hereto. The Parties acknowledge
that: (i) they have read this Agreement; (ii) they have been
represented in the preparation, negotiation, and execution of this
Agreement by legal counsel of their own choice or that they have
voluntarily declined to seek such counsel (Lucosky Brookman LLP
represents the Company and not the Executive); (iii) they
understand the terms and consequences of this Agreement and of the
releases it contains; and (iv) they are fully aware of the legal
and binding effect of this Agreement.

 

23.

Governing
Law. This Agreement shall be
governed by the internal laws of the State of New York, and for all
purposes shall be construed in accordance with the laws of such
State, without giving effect to the choice of law provisions of
such State.

 

[signature page follows]

 

 

5

 

 

IN WITNESS
WHEREOF, the Parties execute
this Settlement and Release Agreement as of the date first written
above.

 

ACCEPTED AND AGREED:

 

BLOCKCHAIN INDUSTRIES, INC.

 

 

By:
__________________________

Name:

Title:

 

 

 

 

 

6

 

 

ACCEPTED AND AGREED:

 

I ACKNOWLEDGE THAT I HAVE CAREFULLY READ THIS AGREEMENT AND
UNDERSTAND ALL OF ITS TERMS, INCLUDING THE FULL AND FINAL RELEASE
OF CLAIMS SET FORTH ABOVE. I FURTHER ACKNOWLEDGE THAT I HAVE
VOLUNTARILY ENTERED INTO THIS AGREEMENT, THAT I HAVE NOT RELIED
UPON ANY REPRESENTATION OR STATEMENT, WRITTEN OR ORAL, NOT SET
FORTH IN THIS AGREEMENT, AND THAT I HAVE HAD THIS AGREEMENT
REVIEWED BY MY ATTORNEY AND MY TAX ADVISOR, OR HAVE BEEN GIVEN THE
OPPORTUNITY TO DO SO.

 

 

	

 

	
Sworn
and Subscribed to before me this

	

 

	

 

	
            
day of  ,
20___  

	

 

	

 

	
 

	

 

	

	

	

 

	

 

	
Notary
Public

	

 

	

 

	

	

 

 

 

_______________________________

PATRICK MOYNIHAN

 

Date: __________________________

 

 

THIS IS A LEGAL AGREEMENT, RELEASE AND COVENANT

NOT TO SUE. READ CAREFULLY BEFORE SIGNING.

 

 

 

7

 

 

EXHIBIT A

 

ESCROW AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

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