Document:

Exhibit 4.3

 

 

HEWLETT PACKARD ENTERPRISE

401(k) PLAN

Effective November 1, 2015

 

 

TABLE OF CONTENTS

SECTION 1.   ESTABLISHMENT AND PURPOSE OF THE PLAN.

SECTION 2.   ELIGIBILITY AND PARTICIPATION.                                                                                                                                                                                        

(a)            Eligibility and Commencement of Participation.

(b)            Suspension.

(c)            Termination of Participation.

SECTION 3.   DEFERRED CONTRIBUTIONS.                                                                                                                                                                                        

(a)            Rate of Contributions.

(b)            Revocation and Change in Election.

(c)            Suspension of Contributions.

(d)            Time and Form of Contribution.

(e)            Compliance With Other Contribution Limitations.

(f)             Catch-up Contributions.

SECTION 4.   ROTH CONTRIBUTIONS.                                                                                                                                                                                        

(a)            General Application.

(b)            Separate Accounting.

(c)            Direct Rollovers.

(d)            Correction of Excess Contributions.

(e)            Distributions.

SECTION 5.   MATCHING CONTRIBUTIONS.                                                                                                                                                                                        

(a)            Quarterly Matching Contributions.

(b)            Time and Form of Matching Contributions.

SECTION 6.   MINIMUM COMPANY CONTRIBUTIONS.

SECTION 7.   LIMITATION ON CONTRIBUTIONS.                                                                                                                                                                                        

(a)            General Limitation.

(b)            Effect of Limitation.

(c)            Deemed 125.

SECTION 8.   ACCOUNTS AND VALUATION.                                                                                                                                                                                        

(a)            Accounts.

(b)            Valuation of Accounts.

SECTION 9.   INVESTMENT OF ACCOUNTS.                                                                                                                                                                                        

(a)            Investment Funds.

(b)            The Stock Fund.

(c)            Investment Directions.

(d)            Reinvestment Directions.

(e)            No Investment Directions.

(f)             Restrictions on Trading.

(g)            The HPI Stock Fund.

 

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SECTION 10.   EMPLOYEE STOCK OWNERSHIP PLAN.

(a)            Establishment and Purpose.

(b)            Participant Elections.

(c)            Vesting.

(d)            Compliance with the Code and Regulations.

(e)            Compliance with Notice 2002-2 and Successor Guidance.

SECTION 11.   VESTING.                                                                                                                                                                                        

(a)            Vesting in Deferred Contribution and Rollover Accounts.

(b)            Vesting in Matching Contributions.

(c)            Periods Counted as Vesting Service.

(d)            Forfeitures and Buybacks.

(e)            Forfeitures.

(f)             Restorations.

(g)            Use of Forfeitures.

SECTION 12.   DISTRIBUTION OF PLAN BENEFITS.                                                                                                                                                                                        

(a)            Amount and Form of Distribution.

(b)            Lump Sum Distribution.

(c)            Installments at Required Beginning Date.

(d)            Direct Transfer.

(e)            Form of Lump Sum.

(f)            Time of Distribution.

(h)            Latest Commencement Permitted.

SECTION 13.   WITHDRAWALS.                                                                                                                                                                                        

(a)            Age Fifty-Nine and One-Half.

(b)            Hardship Withdrawals.

(c)            Rollover Contribution Account Withdrawals.

(d)            Military Leave Withdrawals.

SECTION 14.   LOANS.                                                                                                                                                                                        

SECTION 15.   GENERAL PROVISIONS.                                                                                                                                                                                        

(a)            No Assignment of Rights.

(b)            Qualified Domestic Relations Orders.

(c)            Plan Mergers.

(d)            No Right in Trust Fund or to Employment.

(e)            Competency To Handle Benefits.

(f)             False or Erroneous Statements.

(g)            Effect of Re-Employment on Payment of Plan Benefit.

(h)            Governing Law.

(i)             Beneficiary.

(j)             Lost Participant or Beneficiary.

(k)            Rollover From Eligible Retirement Plan.

(l)             Rollover From IRA.

(m)           Return of Contributions.

 

 

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(n)            Voting Rights.

(o)            Compliance With USERRA.

(p)            Unpaid Amounts.

SECTION 16.   FIDUCIARY RESPONSIBILITIES AND PLAN ADMINISTRATION.

(a)            Named Fiduciary for Plan Administration.

(b)            Named Fiduciary for Management of Plan Assets.

(c)            Service Providers.

(d)            Service in Several Fiduciary Capacities.

(e)            Delegation of Fiduciary Responsibilities.

SECTION 17.   FUNDING POLICY AND METHOD.                                                                                                                                                                                        

(a)            Contributions.

(b)            Expenses of the Plan and Trust.

(c)            Cash Requirements.

SECTION 18.   CLAIMS PROCEDURE.                                                                                                                                                                                        

(a)            Claims for Benefits.

(b)            Denial of Claim.

SECTION 19.   APPEAL PROCEDURES.                                                                                                                                                                                        

(a)            Plan Administrator Discretion.

(b)            Right To Appeal.

(c)            Form of Request for Review.

(d)            Time for Plan Administrator Action.

(e)            Decision on Review.

(f)             Rules and Procedures.

(g)            Exhaustion of Remedies.

(h)            Legal Actions.

SECTION 20.   AMENDMENT AND TERMINATION OF THE PLAN.

(a)            Amendment and Termination.

(b)            Termination of the Plan.

(c)            Allocation of Trust Fund Upon Termination of the Plan.

SECTION 21.   DEFINITIONS.                                                                                                                                                                                        

(a)            “Accounts”

(b)            “Affiliate”

(c)            “Affiliated Group”

(d)            “Annual Additions”

(e)            “Applicable Dividends”

(f)             “Beneficiary”

(g)            “Catch-up Contributions”

(h)            “Code”

(i)             “Company”

(j)             “Deferred Contributions”

(k)            “Deferred Contribution Account”

 

 

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(l)             “Direct Rollover”

(m)          “Distributee”

(n)            “Distribution”

(o)            “Distribution Date”

(p)            “Dividend Payment Date”

(q)            “Eligible Compensation”

(r)             “Eligible Employee”

(s)             “Eligible Retirement Plan”

(t)              “Eligible Rollover Distribution”

(u)            “Employee”

(v)            “Employment Commencement Date”

(w)           “ERISA”

(x)            “ESOP Participant”

(y)            “Former HP Participant”

(z)            “Funds”

(aa)          “HP”

(bb)         “HPI Plan”

(cc)          “Investment Manager”

(dd)         “IRC”

(ee)         “Limitation Year”

(ff)           “Matching Contribution Account”

(gg)          “Matching Contributions”

(hh)          “Minimum Company Contributions”

(ii)           “Participant”

(jj)            “Participating Company”

(kk)         “Period of Severance”

(ll)           “Plan”

(mm)    “Plan Benefit”                                                                                                                                                                          

(nn)          “Plan Committee”

(oo)         “Plan Year”

(pp)         “Pre-Tax Contributions”

(qq)         “Reemployment Commencement Date”

(rr)           “Required Beginning Date”

(ss)          “Rollover Contributions”

(tt)            “Rollover Contribution Account”

(uu)          “Roth Contributions”

(vv)         “Severance From Service”

(ww)   “Spouse”                                                                                                                                                                          

(xx)          “Stock”

(yy)         “Subsidiary”

(zz)          “Total Compensation”

(aaa)    “Trust Agreement”                                                                                                                                                                          

(bbb)    “Trustee”                                                                                                                                                                          

(ccc)    “Trust Fund”                                                                                                                                                                          

(ddd)   “Trust”                                                                                                                                                                          

(eee)    “Valuation Date”                                                                                                                                                                          

 

 

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(fff)          “Fiscal Quarter”

SECTION 22.    EXECUTION.                                                                                                                                                                                        

APPENDIX A   TOP-HEAVY PROVISIONS 

APPENDIX B    LIMITATIONS ON CONTRIBUTIONS

APPENDIX C    SPECIAL RULES FOR ACQUISITIONS AND DISPOSITIONS 

 

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HEWLETT PACKARD ENTERPRISE 401(K) PLAN

Effective as of November 1, 2015

	
SECTION 1.

	
ESTABLISHMENT AND PURPOSE OF THE PLAN.

 

In connection with the distribution by HP Inc. (the “Distribution”) to its shareholders of its interest in Hewlett Packard Enterprise Company (the “Company”) on or about November 1, 2015 (the “Distribution Date”), the Company established the Hewlett Packard Enterprise 401(k) Plan (the “Plan”), effective as of the Distribution Date.  As of the Distribution Date, assets and liabilities attributable to the accounts of certain participants (each, a “Former HP Participant”) in the HPI 401(k) Plan, formerly known as the Hewlett-Packard Company 401(k) Plan (the “HPI Plan”) whose employment was transferred to the Company in connection with the Distribution were transferred to the Plan.

 

The purposes of the Plan are to provide a convenient way for Eligible Employees to share in the ownership, earnings and growth of the Company, thereby offering the Eligible Employees an additional incentive to continue their careers with the Participating Companies and to provide the Eligible Employees an opportunity for regular savings for their retirement.  The Plan together with the Trust established hereunder is intended to qualify as a stock bonus plan under section 401(a) of the Code and as an individual account plan which permits each Participant to exercise control over certain assets of the Plan pursuant to section 404(c) of ERISA.  Certain rules which will become effective only if the plan becomes a “top-heavy plan” (as defined in section 416 of the Code) are set forth in Appendix A to the Plan.  The rules regarding the administration of the discrimination tests under sections 401(k) and 401(m) of the Code are set forth in Appendix B to the Plan.  Any special rules applicable to Accounts which, in whole or in part, derive from the plan of an entity acquired (or divested) by the Company may be set forth in a separate appendix

 

 

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to the Plan.  The Appendices will indicate whether their provisions are supplemental to or exclusive of the provisions of the Plan.  Any and all decisions involving the interpretation of the Plan’s provisions, including but not limited to, eligibility, contributions, vesting, investments, valuations, distributions, withdrawals and loans, shall be made by the Plan Committee in its sole discretion.

 

Notwithstanding any other provisions of the Plan, portions of the Plan are also intended to constitute an employee stock ownership plan under section 4975(e)(7) of the Code (the “ESOP”).  The portions of the Plan that constitute the ESOP are the Stock Fund and all other portions of the Plan necessary to meet the requirements of section 4975(e)(7) of the Code.  The portions of the Plan that constitute the ESOP shall be treated as such for all purposes including but not limited to sections 404(a)(9), 404(k) and 415(c) of the Code.

 

	
SECTION 2.

	
ELIGIBILITY AND PARTICIPATION.

 

(a)            Eligibility and Commencement of Participation.  Any Former HP Participant shall be immediately eligible to participate in accordance with the terms of the Plan.  Each other Employee may commence participation in the Plan as soon as administratively practicable on or following the date he or she becomes an Eligible Employee.

 

(b)            Suspension.  A Participant’s participation in the Plan shall be suspended for any period during which he or she:

 

(i)               Is on a formal leave of absence without pay authorized by the Company;

 

(ii)             Is on military leave, in accordance with the Company’s policy with respect to such leaves and subject to Section 15(o); or

 

(iii)            Ceases to qualify as an Eligible Employee but remains an Employee.

 

 

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Participation shall also be suspended for six months after receipt of a hardship distribution under Section 13(b) of the Plan.

 

Notwithstanding any other provision of the Plan to the contrary except Section 15(o), a Participant shall not make any Deferred Contributions nor receive any allocation of Matching Contributions with respect to any period of suspension.  However, during any such period, the Participant’s Accounts shall continue to share in the income, gains, losses and expenses of the Trust Fund, and such Participant may continue to make investment directions pursuant to Section 9 hereof.

 

(c)            Termination of Participation.  An individual shall cease to be a Participant as of the date he or she ceases to be an Employee, unless the individual is entitled to benefits hereunder, in which event he or she shall cease to be a Participant on the earlier of the date of his or her death or the date no further amount is payable to the individual hereunder.

 

	
SECTION 3.

	
DEFERRED CONTRIBUTIONS.

 

(a)            Rate of Contributions.  Subject to the limitations of Appendix B and in accordance with the administrative procedures established by the Plan Committee, each Participant whose participation is not suspended may elect to make Deferred Contributions to the Plan at a rate equal to any percentage of the Participant’s Eligible Compensation during a payroll period not to exceed fifty percent (50%).  All Deferred Contributions shall be deemed to be employer contributions to the Plan and a Participant’s election to commence making Deferred Contributions shall constitute an election (for Federal tax purposes and, wherever permitted, for state and local tax purposes) to have his or her taxable compensation reduced by the amount of all Deferred Contributions.  Notwithstanding the foregoing, a Participant may only elect to make Deferred Contributions to the Plan with respect to his or her first $265,000 (as adjusted by the 

 

 

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Commissioner of Internal Revenue for increases in the cost of living in accordance with sections 401(a)(17) and 415(d) of the Code) of Eligible Compensation earned during the Plan Year.

 

A Participant may cause an election to make Deferred Contributions to be made by one of the two following methods:

 

(i)               Upon initially becoming an Eligible Employee (other than in connection with the initial establishment of the Plan as of the Distribution Date), and by failing to make an affirmative election or any other election to the contrary, a Participant shall be deemed to elect to make Pre-Tax Contributions at the rate of three percent (3%) of the Participant’s subsequently earned Eligible Compensation (and have those Deferred Contributions invested in the default fund as then designated by the IRC, unless and until an alternative investment election is received), effective as soon as administratively practicable after such individual becomes an Eligible Employee.

 

(ii)              A Participant may elect in the manner prescribed by the Plan Committee, to make no Deferred Contributions; or to make Deferred Contributions (either Pre-Tax Contributions or Roth Contributions) at a different rate (subject to the limitations set forth above); or to elect a different Fund(s).

 

In the case of a Former HP Participant whose Account was transferred to this Plan from the HPI Plan, the Participant’s deferral election in effect under the HPI Plan immediately prior to such transfer shall apply for purposes of this Plan and shall remain in effect unless and until changed in accordance with Section 3(b)(i).

 

If a former Participant is reemployed by a Participating Company as an Eligible Employee or if an Employee is in a suspension status described in Section 2(b) on the date he or she would otherwise recommence participation in the Plan, he or she shall first elect to make 

 

 

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Deferred Contributions as soon as administratively practicable on or after the day he or she is rehired or is no longer in suspension status, as applicable, in accordance with the above Sections 3(a)(i) and (ii).

 

Notwithstanding the foregoing, if a Participant’s participation is suspended due to the receipt of a hardship distribution, unless such Participant elects otherwise, his or her participation shall immediately begin again after the six month suspension period at the same rate of contribution that was in effect immediately prior to the suspension period, unless the Participant’s participation is otherwise suspended or terminated under the Plan.

 

(b)            Revocation and Change in Election.

 

(i)         Each Participant may elect to revoke or change the elections described in Section 3(a) by giving notice to the Plan Committee in the manner prescribed by the Plan Committee.  Such election shall take effect as of the first day of a payroll period as soon as administratively practicable following the date the notice is received.  

 

(ii)             In addition, any Participant who commenced participation in the Plan pursuant to Section 3(a)(i) may elect, in the manner prescribed by the Plan Committee, to receive a refund of those Pre-Tax Contributions which he was deemed to have elected to defer under Section 3(a)(i), adjusted for earnings or losses, so long as such refund election is made no later than 90 days after the date the Participant commenced participation in the Plan under Section 3(a)(i).  If such Participant elects a refund pursuant to this paragraph (ii), any Matching Contributions attributable to such refunded Pre-Tax Contributions shall be forfeited.

 

 

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(c)            Suspension of Contributions.

 

(i)               Subsequent to the election described in Section 3(a), a Participant may suspend all Deferred Contributions at any time by giving notice to the Plan Committee in the manner prescribed by the Plan Committee.  Such suspension shall take effect as of the end of a payroll period as soon as administratively practicable following the date the notice is received.

 

(ii)             A Participant who has voluntarily suspended Deferred Contributions may resume Deferred Contributions by giving notice to the Plan in the manner prescribed by the Plan Committee.  Such contributions shall take effect as soon as administratively practicable following the date the notice is received.

 

 

(iii)            A Participant’s Deferred Contributions shall automatically terminate upon the termination of the Participant’s employment with the Affiliated Group.

 

(d)            Time and Form of Contribution. Deferred Contributions shall be withheld from the Participant’s Eligible Compensation through regular payroll deductions.  All Deferred Contributions shall be paid to the Trustee and invested pursuant to Section 9 as soon as reasonably practicable following the date on which they are withheld.  The Participating Companies shall make Deferred Contributions in cash.  

 

(e)            Compliance With Other Contribution Limitations.  Notwithstanding the foregoing provisions of this Section 3, the Plan shall be administered in accordance with Section 7 and Appendix B.  In order to maintain the qualified status of the Plan under section 401(a) of the Code, or to preserve the status of Deferred Contributions as employer contributions under section 401(k) of the Code, at any time in a Plan Year the Plan Committee may reduce the maximum percentage at which Deferred Contributions will be made to the Plan by a Participant during the 

 

 

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remainder of the Plan Year, or the Plan Committee may require that such a Participant discontinue all Deferred Contributions for the remainder of the Plan Year.  Such a reduction or discontinuance of Deferred Contributions may be applied selectively to individual Participants or to particular classes of Participants, as the Plan Committee may determine.  Upon the close of each Plan Year, or on such earlier date as the Plan Committee may determine, any reduction or discontinuance made pursuant to this Section 3(e) shall cease to apply to the Participant until the Plan Committee again determines that a reduction or discontinuance of Deferred Contributions is necessary or desirable for the Participant.

 

In addition to requiring a prospective reduction or discontinuance of Deferred Contributions, the Plan Committee may distribute to any Participant his or her Deferred Contributions, if any, that are determined to be “Excess Contributions” or “Excess Deferrals” (as defined in Section 1 of Appendix B) and any income or losses attributable thereto in the manner set forth in Section 2 of Appendix B.

 

(f)            Catch-up Contributions.  Each Eligible Employee who will attain age 50 before the close of the Plan Year shall be eligible to make Catch-up Contributions in accordance with, and subject to the limitations of, section 414(v) of the Code.  Catch-up Contributions are Deferred Contributions made to the Plan that are in excess of an otherwise applicable plan limit and that are made by Participants who are age 50 or over by the end of their taxable years.  An otherwise applicable plan limit is a limit in the Plan that applies to Deferred Contributions without regard to Catch-up Contributions, such as the limits on annual additions, the dollar limitation on Deferred Contributions under section 402(g) of the Code (not counting Catch-up Contributions) and the limit imposed by the actual deferral percentage test under section 401(k)(3) of the Code. Catch-up Contributions for a Participant for a taxable year may not 

 

 

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exceed the dollar limit on Catch-up Contributions under section 414(v)(2)(B)(i) of the Code for the taxable year, as adjusted by the Secretary of the Treasury for cost-of-living increases under section 414(v)(2)(C) of the Code.  Catch-up Contributions are not eligible for Matching Contributions under Section 5.  Catch-up Contributions are not subject to the limits on annual additions under Section 7, are not counted in the Average Deferral Percentage test, and are not counted in determining the minimum allocation under section 416 of the Code (but Catch-up Contributions made in prior years are counted in determining whether the Plan is top-heavy).

 

	
SECTION 4.

	
ROTH CONTRIBUTIONS.

 

(a)            General Application.  The Plan shall accept Roth Contributions made on behalf of Participants.  A Participant’s Roth Contributions shall be allocated to a separate account maintained for such deferrals as described in Section 4(b).  Unless specifically stated otherwise, Roth Contributions shall be treated as Deferred Contributions for all purposes under the Plan.

 

(b)            Separate Accounting.  Roth Contributions shall be subject to the following accounting rules:

 

(i)               Contributions and withdrawals of Roth Contributions shall be credited and debited to the Roth Contribution Account maintained for each Participant.

 

(ii)             The Plan shall maintain a record of the amount of Roth Contributions in each Participant’s Account.

 

(iii)            Gains, losses, and other credits or charges must be separately allocated on a reasonable and consistent basis to each Participant’s Roth Contribution Account and the Participant’s other Accounts under the Plan.

 

(iv)            No contributions other than Roth Contributions and properly attributable earnings shall be credited to each Participant’s Roth Contribution Account.

 

 

 

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(c)            Direct Rollovers.  Roth Contributions shall be subject to the following rollover rules:

 

(i)               Notwithstanding Section 12(d), a direct rollover of a distribution from a Roth Contribution Account under the Plan shall only be made to another Roth elective deferral account under an applicable retirement plan described in section 402A(e)(1) of the Code or to a Roth IRA described in section 408A of the Code, and only to the extent the rollover is permitted under the rules of section 402(c) of the Code.

 

(ii)             Notwithstanding Sections 15(k) and 15(l), the Plan shall accept a rollover contribution to a Roth Contribution Account only if it is a direct rollover from another Roth elective deferral account under an applicable retirement plan described in section 402A(e)(1) of the Code and only to the extent the rollover is permitted under the rules of section 402(c) of the Code.

 

(iii)            Any distribution from a Participant’s Roth Contribution Account is not taken into account in determining whether distributions from a Participant’s other accounts are reasonably expected to total less than $200 during a year. However, eligible rollover distributions from a Participant’s Roth Contribution Account are taken into account in determining whether the total amount of the Participant’s Account balances under the Plan exceeds $1,000 for purposes of mandatory distributions from the Plan under Section 12(f)(i).

 

(d)            Correction of Excess Contributions.

 

(i)               In the case of a distribution of Excess Contributions (as defined in Section 1 of Appendix B), a highly compensated employee may designate the extent to which the 

 

 

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excess amount is composed of pre-tax elective deferrals and Roth Contributions but only to the extent such types of deferrals were made for the year.

 

(ii)              If the Highly Compensated Employee (as defined in Section 1 of Appendix B) does not designate which type of elective deferral is to be distributed, the Plan shall distribute after-tax elective deferrals first.

 

(e)            Distributions.  For purposes of Plan distributions, to the extent permitted by law and administratively practicable, the Participant may designate the extent to which the payment is composed of Pre-tax Contributions and Roth Contributions.

 

	
SECTION 5.

	
MATCHING CONTRIBUTIONS.

 

(a)            Quarterly Matching Contributions. The Participating Companies shall make Matching Contributions at a rate equal to 100 percent of the Deferred Contributions made by the Participant up to the first four percent of Eligible Compensation; provided, however, that in no case shall Matching Contributions be made with respect to Catch-up Contributions.  The amount of each Participant’s Matching Contribution shall be determined for each payroll period, based on the amount of the Participant’s Deferred Contributions each payroll period, and credited to each Participant’s Account at the time and in the manner described in Section 5(b).  In order to receive a Matching Contribution with respect to a Fiscal Quarter, a Participant must either be an Employee as of the last day of such Fiscal Quarter or have terminated employment during such Fiscal Quarter as a result of such employee’s death, termination under all of the terms and conditions (including the execution and non-revocation of a valid waiver and release) of a Company-approved severance program, the 2014 U.S. Phased Retirement Program, or in connection with a sale or other disposition by the Company of the business unit in which such Participant had been employed.

 

 

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(b)            Time and Form of Matching Contributions.  Matching Contributions shall be made by the Participating Companies in cash only, and shall be paid to the Trustee and invested pursuant to Section 9 as soon as reasonably practicable after the end of each Fiscal Quarter.

 

	
SECTION 6.

	
MINIMUM COMPANY CONTRIBUTIONS.

 

For any Plan Year, the Company shall make qualified nonelective contributions to the Plan, only as required in accordance with Appendix B.

 

	
SECTION 7.

	
 LIMITATION ON CONTRIBUTIONS.

 

(a)            General Limitation.  In no event shall the Annual Additions allocated to any Participant for any Limitation Year exceed the lesser of:

 

(i)               Fifty-three thousand dollars ($53,000) (as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with section 415(d) of the Code); or

 

(ii)             One hundred percent (100%) of the Participant’s Total Compensation for such Limitation Year.  This compensation limit shall not apply to any contribution for medical benefits after separation from service (within the meaning of sections 401(h) or 419A(f)(2) of the Code) which is otherwise treated as an annual addition.

 

(b)            Effect of Limitation.  If the limitations described in Section 7(a) above would be exceeded with respect to any Participant for any Limitation Year, the Annual Additions allocated to the Participant for such Limitation Year shall be reduced by reducing the components of such Annual Additions, as necessary, in the order in which they are listed in the definition of Annual Additions.

 

(c)            Deemed 125.  For the purposes of the definition of Total Compensation and Eligible Compensation, including compensation defined under Section (c)(vi) of Appendix A, 

 

 

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Section 1(x) of Appendix B, and Section 1(aa) of Appendix B, amounts under section 125 of the Code include any amounts not available to a Participant in cash in lieu of group health coverage because the Participant is unable to certify that he or she has other health coverage.  An amount will be treated as an amount under section 125 of the Code in accordance with the prior sentence only if the Company (or Participating Company, if applicable) does not request or collect information regarding the Participant’s other health care coverage as part of the enrollment process for the health plan.

 

	
SECTION 8.

	
ACCOUNTS AND VALUATION.

 

(a)            Accounts.  The following Accounts, as appropriate, shall be maintained for a Participant: 

              

(i)          A “Matching Contribution Account” consisting of each Participant’s share of Matching Contributions and the realized or unrealized investment income, gains, losses and expenses allocable thereto;

 

(ii)         A “Deferred Contribution Account” consisting of each Participant’s share of Deferred Contributions (including separately, a Pre-Tax Contribution Account and a Roth Contribution Account), and Catch-up Contributions and the realized or unrealized investment income, gains, losses and expenses allocable thereto; and

 

(iii)       A “Rollover Contribution Account” consisting of each Participant’s share of Rollover Contributions and the realized or unrealized investment income, gains, losses and expenses allocable thereto.

 

(b)            Valuation of Accounts.  A Participant’s interest in each Account shall be represented by units of participation.  Each Account shall be adjusted as of each Valuation Date by the Trustee to reflect any change in the unit value of the Account since the immediately 

 

 

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preceding Valuation Date.  The unit value of the Account shall be based on the fair market value of the Account, appropriately adjusted by the Trustee for any realized or unrealized investment income, gains, losses and expenses.  A Participant’s number of units shall be adjusted to reflect any installment payments, withdrawals or loans pursuant to Sections 12, 13 or 14, or the establishment of an account for an alternate payee as defined in section 414(p) of the Code (an “Alternate Payee”) pursuant to Section 15(b), from the Participant’s Accounts.  The valuation of units of participation will be based on values as of the close of business on each Valuation Date, and all transactions under the Plan will be based on this valuation, subject to any adjustments due to unusual circumstances, as may be determined to be in the best interest of all Participants by the IRC, in its discretion.

 

	
SECTION 9.

	
INVESTMENT OF ACCOUNTS.

 

              (a)            Investment Funds. Except as provided in Section 9(b) with respect to the Stock Fund and Section 9(g) with respect to the HPI Stock Fund, the Trust Fund shall be composed of such Funds as the IRC shall determine to make available from time to time and the IRC may change the available Funds at any time in its sole discretion by adding Funds, removing Funds, or changing Funds.

 

              (b)            The Stock Fund.  The Stock Fund shall be invested and reinvested primarily in Stock, except that small amounts of cash held in the Stock Fund may be invested and reinvested in interest-bearing short-term debt obligations, money market instruments, savings accounts or similar investments.  The Stock Fund shall consist of all Stock Fund investments held by the Trustee and all cash held by the Trustee which is derived from dividends, interest or other income from Stock Fund investments, Deferred Contributions, Matching Contributions and Rollover 

 

 

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Contributions to be invested in the Stock Fund, and proceeds from the sale or redemption of Stock Fund investments.  The cash shall be invested as provided in this Section 9(b).

 

In the absence of any direction from the Stock Fund Fiduciary (or any direction from an Investment Manager, where one has been appointed by the Stock Fund Fiduciary), the Trustee shall select the time, price, amount and manner of a purchase of Stock for the Stock Fund, and any broker, dealer or private seller through or from which a purchase of Stock is made; in addition, the Stock Fund Fiduciary (or any Investment Manager appointed for the Stock Fund) may direct the Trustee with respect to the type and amount of liquidity investments maintained in the Fund.  The Trustee in its discretion may purchase Stock that was distributed to a Participant or Beneficiary at the closing price of Stock as quoted on the New York Stock Exchange for the business day on which the Trustee receives a written offer to sell.  No commission shall be paid in connection with any such purchase.

 

(c)            Investment Directions.  A Participant may direct the investment of the Participant’s combined Deferred Contributions, Matching Contributions and Rollover Contributions among the Funds, in the manner prescribed by the Plan Committee at the time of enrollment or reenrollment.  A Participant may also be asked for a new investment direction as to balances or contributions for which he or she has earlier provided an affirmative election. The Participant may change the Participant’s investment directions for his or her combined Deferred Contributions, Matching Contributions and Rollover Contributions on a daily basis by instructing the Trustee in the manner prescribed by the Plan Committee.  Following enrollment or reenrollment in the manner prescribed by the Plan Committee, a Participant shall specify the percentage of the Participant’s combined Deferred Contributions, Matching Contributions and Rollover Contributions to be invested in such Funds.  Investment elections shall be in such 

 

 

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minimum percentage amounts with respect to each Fund as permitted by the Plan Committee or the Trustee.

 

Notwithstanding any provision in the Plan to the contrary, a Participant’s investment in the Stock Fund shall be subject to the  limitations described in this paragraph.  A Participant may direct the investment of no more than 20% of his combined Deferred Contributions, Matching Contributions and Rollover Contributions and loan repayments into the Stock Fund.  A Participant shall not be permitted to direct the reinvestment of  his combined Rollover Contribution Account, Deferred Contribution Account and Matching Contribution Account if such reinvestment would cause the value of the Participant’s interest in the Stock Fund to exceed twenty percent (20%) of the total value of all of the Participant’s Accounts.  If a Participant makes an investment direction using a “rebalancing” feature offered by the Plan at a time when the value of the Participant’s interest in the Stock Fund exceeds twenty percent (20%) of the total value of all of the Participant’s Accounts, then the Participant’s investments shall automatically be adjusted such that the Participant’s interest in the Stock Fund does not exceed twenty percent (20%) of the total value of all of the Participant’s Accounts.

 

(d)            Reinvestment Directions.  On a daily basis, by instructing the Trustee in the manner prescribed by the Plan Committee, a Participant may direct the reinvestment of the Participant’s combined Rollover Contribution Account, Deferred Contribution Account and Matching Contribution Account among the Funds.  A Participant shall specify the reinvestment amounts of the Participant’s combined Rollover Account, Deferred Contribution Account and Matching Contribution Account to be invested in such Funds.  Reinvestment directions shall be in such minimum dollar or percentage amounts as permitted by the Plan Committee or the Trustee.

 

 

 

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(e)            No Investment Directions.  In the event that a Participant fails to direct his or her investment or fails to affirmatively respond to the Plan Committee’s request for a new investment direction (as to new or existing balances or contributions), such Participant shall be presumed to have directed that his or her account or contributions be invested in the investment option identified for that purpose, as designated by the IRC from time to time.

 

(f)            Restrictions on Trading.  Notwithstanding any provision in the Plan to the contrary, the Plan Committee or the IRC is authorized to impose from time to time any restrictions or limitations on any or all Participants’ ability to direct the investment of his, her or their Accounts into or out of a certain Fund or Funds as the Plan Committee or the IRC may deem appropriate in its sole and absolute discretion.

 

(g)            The HPI Stock Fund.  Any shares of HP Inc. stock (“HPI Stock”) previously allocated to Participants’ accounts under the HPI Plan in connection with the Distribution shall be invested in the “HPI Stock Fund.”  The HPI Stock Fund shall be invested and reinvested primarily in HPI Stock, except that small amounts of cash held in the HPI Stock Fund may be invested and reinvested in interest-bearing short-term debt obligations, money market instruments, savings accounts or similar investments.  The HPI Stock Fund shall consist of all HPI Stock Fund investments held by the Trustee and all cash held by the Trustee which is derived from dividends, interest or other income from HPI Stock Fund investments, and proceeds from the sale or redemption of HPI Stock Fund investments.  Notwithstanding anything in the Plan to the contrary, a Participant may not direct the investment of his or her Accounts into the HPI Stock Fund, but may direct the investment of his or her Accounts out of the HPI Stock Fund.  Effective on or about November 1, 2016, the HPI Stock Fund shall be eliminated as an Investment Fund under the Plan and the HPI Stock will be liquidated.  The proceeds of the liquidation of the HPI Stock Fund shall 

 

 

 

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be invested in one or more other Investment Funds, in accordance with procedures adopted by the IRC.

 

	
SECTION 10.

	
EMPLOYEE STOCK OWNERSHIP PLAN.

 

(a)            Establishment and Purpose.  The Stock Fund and those portions of the Plan necessary to meet the requirements of section 4975(e)(7) of the Code are established, effective as of the Distribution Date, for all Dividend Payment Dates occurring thereafter, as an employee stock ownership plan under section 4975(e)(7) of the Code (the “ESOP”).  As of such date, the purpose of the ESOP is to permit the current dividends paid on Stock held in the ESOP to be passed through directly to ESOP Participants.  The ESOP is designed to invest primarily in qualifying employer securities, which consist of the following: (i) common stock issued by the Company, or by a corporation within the same controlled group, which is readily tradeable on an established securities market (which requires that sales of the stock take place regularly and consistently based on the facts and circumstances), (ii) if there is no readily tradeable common stock, closely held common stock of the Company which has a combination of voting power and dividend rights equal to or in excess of the class of common stock of the Company having the greatest dividend rights and greatest voting power, or (iii) noncallable preferred stock if the stock is convertible into stock which meets the requirements of (i) or (ii) above, and if the conversion price is reasonable as of the date the ESOP acquired the preferred stock.

 

(b)            Participant Elections.

 

(i)               Each ESOP Participant may elect, in the manner provided by the Plan Committee, whether dividends payable on the Stock held by the ESOP Participant shall be paid directly in cash to the ESOP Participant or paid to the Stock Fund and reinvested in Stock.  If an ESOP Participant does not make the election set forth in the preceding 

 

 

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sentence, dividends on Stock held in the Stock Fund by the ESOP Participant shall be automatically reinvested in Stock.  Any payment in cash pursuant to this Section 10(b)(i) shall be paid to the ESOP Participant no later than 90 days following the close of the Plan Year with respect to which the dividends are paid.

 

(ii)             Each ESOP Participant shall have a reasonable period of time prior to the Dividend Payment Date to make the foregoing election pursuant to this Section 10.

 

(iii)            Any election or automatic reinvestment in Stock made pursuant to Section 10(b)(i) shall become irrevocable as of the tenth business day preceding the applicable Dividend Payment date with respect to all dividends payable under the ESOP on such applicable Dividend Payment Date.  Any such election or automatic reinvestment shall remain in effect for all subsequent Dividend Payment Dates until changed in accordance with the terms of Section 10(b)(iv).

 

(iv)            Each ESOP Participant may change his or her election in the manner provided by the Plan Committee subject to the provisions set forth in Sections 10(b)(i), (ii) and (iii) above.

 

(v)              Notwithstanding any other provision of this Section 10(b), to the extent provided in Notice 2002-2 issued by the Internal Revenue Service or any successor notice or publication, an ESOP Participant who has elected a hardship withdrawal pursuant to the Plan must elect to receive dividends to the extent currently available to the ESOP Participant under the ESOP, provided however, that the foregoing requirement shall not apply as of the date permitted pursuant to any future guidance by the Internal Revenue Service.

 

 

 

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(c)            Vesting.   ESOP Participants shall be fully vested at all times in all Applicable Dividends paid on applicable employer securities held by the ESOP.

 

(d)            Compliance with the Code and Regulations.  The ESOP shall meet the applicable requirements of section 4975(e)(7) of the Code and the regulations promulgated thereunder, including but not limited to the following:

 

(i)                The right of an ESOP Participant to demand that his or her benefits under the ESOP shall be distributed in the form of employer securities.

 

(ii)              Section 409(o) of the Code relating to distribution of the ESOP Participant’s Account.

 

(iii)            Section 409(e) of the Code relating to the voting rights of ESOP Participants.

 

(iv)            The ESOP shall not be directly or indirectly integrated with Social Security in compliance with section 54.4975-11(a)(7)(ii) of the Treasury Regulations.

 

(v)              The ESOP shall comply with section 54.4975(e)(7)-11(d)(1) of the Treasury Regulations requiring that a definite formula be provided for the allocation of  contributions and forfeitures and that securities acquired by the ESOP shall be accounted for as in other defined contribution plans.  For this purpose, valuations must be determined as of the most recent Valuation Date under the Plan.  However, for a transaction between the Plan and a disqualified person, value must be determined as of the date of the transaction.

 

(vi)             The ESOP cannot obligate itself to acquire securities from a particular security holder at an indefinite time determined upon the happening of an event such as 

 

 

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the death of the holder in compliance with section 54.4975-11(a)(7)(i) of the Treasury Regulations.

 

(e)            Compliance with Notice 2002-2 and Successor Guidance.  The ESOP is intended to comply with Notice 2002-2 issued by the Internal Revenue Service, and any successor notice or publication.

 

	
SECTION 11.

	
VESTING.

 

(a)            Vesting in Deferred Contribution and Rollover Accounts. A Participant’s interest in his or her own Deferred Contribution Account and Rollover Account (plus earnings on such Accounts) will be fully vested at all times.

 

(b)            Vesting in Matching Contributions.  A Participant will be 100% vested in his or her Matching Contribution Account upon the earliest to occur of his or her (a) being credited with three years of Vesting Service, (b) attainment of age 65, (c) death before termination of employment, and (d) becoming eligible for disability benefits under the Company’s long-term disability benefits program.  In addition, a Participant shall be 100% vested in his or her Matching Contribution Account if he or she terminates employment from the Affiliated Group in connection with a sale or other disposition by the Company of the business unit in which the Participant had been employed.

 

(c)            Periods Counted as Vesting Service.

 

(i)               Periods of Service.  A Participant is credited with Vesting Service for each Period of Service under the “adjusted employment commencement date” method described and permitted under section 1.410(a)-7(a)(3)(i)(B) of the Treasury Regulations.  A “Period of Service” means any period beginning with a Participant’s Employment Commencement Date or Reemployment Commencement Date and ending on the date of 

 

 

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the Participant’s next Severance from Service.  Notwithstanding the foregoing, a Former HP Participant is credited with Vesting Service for each Period of Service earned while employed by HP.

 

(ii)             Total Service and Aggregation Rules.  All Periods of Service shall be aggregated to determine years of Vesting Service.  Partial years of service will be aggregated based on a 365-day year, and no more than one year of Vesting Service may be earned in any 365-day period.

 

(iii)            Service with the Affiliated Group.  Only Periods of Service with a member of the Affiliated Group are counted for Vesting Service.  Service with an employer before it becomes a member of the Affiliated Group (or after it stops being a member of the Affiliated Group) is not counted.  Notwithstanding the preceding sentence, (A) service with an employer before it becomes a member of the Affiliated Group shall be counted as Vesting Service if the purchase, merger or similar agreement by which the employer becomes part of the Affiliated Group requires that service with such employer be counted as Vesting Service under this Plan, and (B) service as a Leased Employee counts as Vesting Service, but only to the extent required by section 414(n) of the Code.  In addition, service with an employer from whom a group of employees is hired pursuant to an outsourcing contract or similar agreement shall be counted as Vesting Service if the contract by which such group of employees become employees of the Company requires that such prior service be counted as Vesting Service, or if the Plan Committee otherwise approves of such prior employer service counting as Vesting Service with respect to a designated group of employees.

 

 

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(iv)         Military Leaves.  A Participant who returns to employment with the Affiliated Group following a Military Leave while his or her employment rights remain protected by the federal veterans reemployment rights statute will be credited with Vesting Service for any Period of Severance (or portion thereof) attributable to the Military Leave; provided, however, that such crediting shall not duplicate any period credited under other parts of this Article.

 

(d)            Forfeitures and Buybacks.  This subsection only applies to Participants who are not 100% vested in Matching Contributions when they incur a Severance from Service.

 

(e)            Forfeitures.  A Participant will immediately forfeit any unvested Matching Contributions (A) upon receiving a distribution of the entire vested portion of his or her Account during a Period of Severance, or (B) upon incurring a five-year Period of Severance.

 

(f)            Restorations.  Contributions forfeited under Section 11(e) will be restored (without interest or earnings) upon reemployment by the Affiliated Group only if the Participant repays the full amount of the distribution to the Plan, and only if repayment is made before the earlier of:  (A) five years after the Participant’s Reemployment Commencement Date; and (B) the date that the Participant incurs a five-year Period of Severance after receiving the distribution.

 

(g)            Use of Forfeitures.  Amounts forfeited under this Section may be used to reduce employer contributions, to restore benefits previously forfeited, to pay Plan expenses, or for any other permitted use.

 

	
SECTION 12.

	
DISTRIBUTION OF PLAN BENEFITS.

 

(a)            Amount and Form of Distribution.  A Participant’s Plan Benefit with respect to his or her Deferred Contribution Account, Matching Contribution Account and Rollover 

 

 

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Contribution Account, if any, shall consist of the cash and equivalent shares of Stock credited to such Accounts valued on the Valuation Date on or following the date the Trustee receives a claim pursuant to Section 18 or, in the event of no claim, on the Valuation Date as of which the Trustee processes the distribution of the Participant’s Plan Benefit.  A Plan Benefit shall be paid in accordance with the following:

 

(b)            Lump Sum Distribution.  Except as provided in Section 12(c) below, the Participant (or in the event the Participant is deceased, the Participant’s Beneficiary) shall receive a lump sum distribution consisting of cash, except that a Participant or Beneficiary may elect to have his or her Plan Benefit attributable to the Stock Fund paid in whole shares of Stock, plus a check for any fractional shares.

 

(c)            Installments at Required Beginning Date.  If the amount of the Participant’s Plan Benefit exceeds $5,000 (determined as of the date of the distribution), the Participant may elect, in the manner prescribed by the Plan Committee, cash installments, payable at least annually, beginning on the Participant’s Required Beginning Date and continuing over a period not extending beyond the life expectancy of the Participant or the joint life expectancy of the Participant and his or her Beneficiary, in accordance with the requirements of section 401(a)(9) of the Code and the regulations thereunder.  Upon the death of a Participant who was receiving installment payments, payments will continue to the Participant’s Beneficiary for the remainder of the period elected by the Participant.  Notwithstanding the foregoing or any other provision of Plan to the contrary, once installment payments have begun, the Participant (or, if the Participant is deceased, the Participant’s Beneficiary) may elect at any time, in the manner prescribed by the Plan Committee, to have the entire remaining Plan Benefit distributed in a lump sum distribution.  

 

 

 

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The assets in the Participant’s Accounts shall be liquidated as necessary to fund the installment payments in the order prescribed by the Plan Committee.

 

(d)            Direct Transfer.  A Distributee may elect, subject to the conditions and administrative procedures prescribed by the Plan Committee, to have all or a portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover.  A Participant or spouse Beneficiary may also elect to have his or her entire Plan Benefit (or a portion thereof) distributed in-kind in the form of a direct transfer to an individual retirement account maintained by the Trustee, subject to the establishment of an individual retirement account with the Trustee.

 

(e)            Form of Lump Sum.  If a Participant’s Plan Benefit is payable in a lump sum, and the Participant or Beneficiary (as applicable) fails to elect a form of lump sum distribution, the entire Plan Benefit shall be distributed in cash.

 

(g)            Time of Distribution.

 

              (i)         The following rules shall govern the time of distribution of the Participant’s Plan Benefit: 

 

                            (A)            If the amount of the Participant’s Plan Benefit does not exceed $1,000 (determined as of the date of distribution), the Participant’s Plan Benefit shall be distributed in a lump sum distribution as soon as reasonably practicable after the Participant ceases to be an Employee, unless the Participant makes an earlier election to have such Plan Benefit rolled into an Eligible Retirement Plan.

 

(B)            If the amount of the Participant’s Plan Benefit is more than $1,000 but does not exceed $5,000 (determined as of the date of distribution), the Participant’s Plan Benefit shall be distributed in a direct rollover to an individual 

 

 

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retirement account designated by the Plan Committee as soon as reasonably practicable after the Participant ceases to be an Employee, unless the Participant makes an earlier election to have such Plan Benefit paid directly to him as a lump sum distribution or rolled into another Eligible Retirement Plan.         

           (ii)        If the amount of the Participant’s Plan Benefit exceeds $5,000 (determined as of the date of distribution), the Participant’s Plan Benefit shall not be distributed until he or she ceases to be an Employee and has elected to receive the Plan Benefit pursuant to Section 18, but in no event shall a Participant’s Plan Benefit be distributed (or commence being distributed) later than the Participant’s Required Beginning Date.

(iii)       Upon the death of a Participant prior to the date distribution of his or her Plan Benefits is made, or has begun in accordance with Section 12(c), as applicable, the Participant’s Plan Benefit shall be paid to his or her Beneficiary no later than 60 months after the date of the Participant’s death.  However, if the Plan Benefits do not exceed $5,000 (determined as of the date of distribution), the Participant’s Plan Benefit shall be distributed in a lump sum distribution to the Beneficiary or Alternate Payee as soon as reasonably practicable after the Participant’s death, unless the Beneficiary or Alternate Payee makes an earlier election to have such Plan Benefit rolled into an Eligible Retirement Plan.

 

(h)            Latest Commencement Permitted.  Notwithstanding any other provision of the Plan to the contrary, distribution of a Participant’s Plan Benefit shall be made or begin not later than the Participant’s Required Beginning Date and all distributions will be made in accordance with the requirements of section 401(a)(9) of the Code and the final regulations thereunder and the minimum distribution incidental benefit requirement of Code section 401(a)(9)(G).

 

 

 

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SECTION 13.

	
WITHDRAWALS.

 

(a)            Age Fifty-Nine and One-Half.  Upon giving notice in the manner prescribed by the Plan Committee and satisfying the requirements of this Section 13(a), a Participant who is an Employee may, with such frequency as may be established by the Plan Committee, withdraw from his or her Matching Contribution Account and Deferred Contribution Account an amount in cash which is not more than the value of the Participant’s Accounts as of the date the withdrawal is made, only if the Participant will have attained age fifty-nine and one-half (591⁄2) at the time the withdrawal is to be made.  All withdrawals pursuant to this Section 13(a) shall be in a minimum amount of one thousand dollars ($1,000.00) or, if less, the entire value (adjusted as provided in Section 8(b)) of the Participant’s Matching Contribution Account and Deferred Contribution Account as of the date the withdrawal is made.  A Participant may direct the order of liquidation of the Funds in his or her Accounts to fund the withdrawal in the manner prescribed by the Plan Committee.  Otherwise, the Funds in a Participant’s Accounts shall be liquidated on a pro rata basis to fund the withdrawal.

 

(b)            Hardship Withdrawals.  Notwithstanding Section 13(a), a Participant who is an Employee may in the event of a financial hardship, request a hardship withdrawal in the manner prescribed by the Plan Committee.  Such withdrawal shall be an amount in cash of not less than one thousand dollars ($1,000) or one hundred percent (100%) of the limit in the immediately succeeding sentence if less than one thousand dollars ($1,000).  Hardship withdrawals shall be limited to the value (adjusted as provided in Section 8(b)) of the Participant’s Deferred Contribution Account and Matching Contribution Account as of the date the withdrawal was made, but shall not include, with respect to the period after December 31, 1988, Matching Contributions or earnings on the Deferred Contribution Account and Matching Contribution 

 

 

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Account.  A Participant may direct the order of liquidation of the Funds in his or her Accounts to fund the withdrawal in the manner prescribed by the Plan Committee.  Otherwise, the Funds in a Participant’s Accounts shall be liquidated in the following order to fund the withdrawal, to the extent applicable to a Participant’s Accounts:  (i) any Rollover Contributions of elective deferrals other than any Rollover Contributions made by a Participant with respect to his or her account balance under a 401(k) plan maintained by an employer prior to the time such employer became a member of the Affiliated Group, (ii) any Catch-Up Contributions that were made on a pre-tax basis, (iii) any Participant Deferred Contributions, (iv) any vested Matching Contributions for years prior to 2007 or for 2007 that were made in accordance with Section 5(a) of the HPI Plan, (v) any vested Matching Contributions (other than those described in (iv) above), (vi) any after-tax contributions from a prior plan, (vii) any fund rebate allocations, (viii) any Rollover Contributions of amounts designated as Roth contributions under section 402A of the Code, (ix) any Roth Catch-Up Contributions, and (x) any other Roth Contributions.

 

A distribution shall be on account of a financial hardship only if the distribution is made on account of an immediate and heavy financial need and is necessary to satisfy such financial need.  The Plan Committee shall make its determination regarding the propriety of specific hardship withdrawals based on the Participant’s representations made in the manner prescribed by the Plan Committee.

 

(i)                The following shall constitute an immediate and heavy financial nee

 

      (A)          deductible medical expenses, within the meaning of section 213(d) of the Code, determined without regard to whether the expenses exceed 7.5% of adjusted gross income, as well as medical expenses that would be deductible under section 213(d) of the Code, except that they are incurred by the

 

 

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 Participant’s domestic partner (the person with whom the Participant has signed and filed a notarized declaration of domestic partnership form as prescribed by the Company), provided that the domestic partner is the Participant’s designated Beneficiary;

 

      (B)           the purchase (excluding mortgage payments) of a principal residence for the Participant;

 

      (C)           payment of tuition, related educational fees, and room and board expenses for the next 12 months of post-secondary education for the employee, or the employee’s spouse, children, or dependents, as defined in section 152 of the Code, without regard to sections 152(b)(1), (b)(2), and (d)(1)(B), or domestic partner (the person with whom the Participant has signed and filed a notarized declaration of domestic partnership form as prescribed by the Company), provided that the domestic partner is the Participant’s designated Beneficiary;

             (D))          the need to prevent the eviction of the Participant from, or a foreclosure on the mortgage of, the Participant’s principal residence;

             (E)           payment for burial or funeral expenses for the employee’s deceased parent, spouse, children or dependents, as defined in section 152 of the Code, without regard to section 152(d)(1)(B) of the Code, or domestic partner (the person with whom the Participant has signed and filed a notarized declaration of domestic partnership form as prescribed by the Company), provided that the domestic partner is the Participant’s designated Beneficiary;

 

             (F)            expenses for the repair of damage to the employee’s principal residence that would qualify for the casualty deduction under section 165 of the 

 

 

 

28

 

 

Code, determined without regard to whether the loss exceeds 10% of adjusted gross income; or

 

             (G)           A financial need that has been identified as a deemed immediate and heavy financial need in a ruling, notice, or other document of general applicability issued under the authority of the Commissioner of Internal Revenue.

 

A distribution to meet an immediate and heavy financial need may include anticipated federal and state income taxes and penalties resulting from the hardship distribution.

 

(ii)             A distribution on account of an immediate and heavy financial need shall be deemed necessary to satisfy such need only if:

 

(A)            The amount withdrawn does not exceed the amount of the immediate and heavy financial need;

 

(B)            The Participant has obtained all distributions, other than hardship distributions, and all nontaxable loans currently available under all plans maintained by the Affiliated Group;

 

(C)            The Participant’s contributions to the Plan, and the Company’s Employee Stock Purchase Plan, will be suspended for 6 months after the receipt of the hardship distribution.

 

(c)            Rollover Contribution Account Withdrawals.  A Participant may at any time withdraw all or a portion of the balance in his or her Rollover Contribution Account, in accordance with the procedures established by the Plan Committee.

 

(d)            Military Leave Withdrawals.      A Participant who is approved for a military leave of absence which extends for longer than thirty (30) days may, in accordance with rules established by the Plan Committee, withdraw from his or her Deferred Contribution Account an amount in 

 

 

 

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cash which is not more than the value of the Participant’s Account as of the date the withdrawal is made.  A Participant may direct the order of liquidation of the Funds in his or her Account to fund the withdrawal in the manner prescribed by the Plan Committee; otherwise, the Funds in the Participant’s Account shall be liquidated on a pro rata basis to fund the withdrawal.  A Participant who effects a withdrawal under this Section 13(d) shall be prohibited from making any additional contributions to the Plan for 6 months after the date of the withdrawal.

 

	
SECTION 14.

	
LOANS.

 

Loans shall be available to Participants in accordance with section 2550.408b-1 of the Department of Labor Regulations, and with the written requirements set forth in separate procedures.  Such requirements shall apply equally to loans transferred to this Plan from the HPI Plan.

 

	
SECTION 15.

	
GENERAL PROVISIONS.

 

(a)            No Assignment of Rights.  The interest and property rights of any person in the Plan, in the Trust Fund or in any distribution to be made under the Plan shall not be subject to option nor be assignable, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any act in violation hereof shall be void, except as otherwise permitted under ERISA and the Code.

 

(b)            Qualified Domestic Relations Orders.  For all purposes under the Plan except Section 7, the value of a Participant’s Accounts shall not include the amount payable to an Alternate Payee pursuant to a qualified domestic relations order.  A separate account shall be established for an Alternate Payee consistent with an approved qualified domestic relations order

 

 

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 at such time as the Plan Committee instructs the Trustee to establish such an account, after which the Alternate Payee shall have reinvestment direction rights provided in Section 9(c).

 

If requested, the Plan Committee shall make payment to an Alternate Payee pursuant to a qualified domestic relations order even if the Participant has not attained the “earliest retirement age” (within the meaning of section 414(p) of the Code).  Any payment to an Alternate Payee shall be valued pursuant to Section 12(a).

 

(c)            Plan Mergers.  Except as may be permitted under regulations issued by the Secretary of the Treasury, the Plan shall not merge or consolidate with, nor transfer assets or liabilities to, any other plan unless each Participant would receive a benefit under the Plan immediately after the merger, consolidation or transfer (if the Plan then terminated) which is equal to or greater than the benefit which he or she would have been entitled to receive immediately before the merger, consolidation or transfer (if the Plan had then terminated).

 

(d)            No Right in Trust Fund or to Employment.  No person shall have any rights in or to the Trust Fund, or any part thereof, or under the Plan, except as, and only to the extent, expressly provided for in the Plan.  The establishment of the Plan, the granting of benefits and any action of any member of the Affiliated Group or any other person shall not be held or construed to confer upon any person any right to be continued as an Employee nor, upon dismissal, to confer any right or interest in the Trust Fund other than as provided herein.  No provision of the Plan shall restrict the right of any member of the Affiliated Group to discharge any Employee at any time and for any reason.

 

(e)            Competency To Handle Benefits.  If, in the opinion of the Plan Committee, any person is unable to properly handle any property distributable to such person under the Plan, the Plan Committee may make any reasonable arrangement for the distribution of Plan Benefits on 

 

 

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such person’s behalf that it determines will be beneficial to such person, including (without limitation) distribution to the person’s guardian, conservator, spouse, dependent or parent, and such payment shall completely discharge all liability with respect to the amount so paid.

 

(f)            False or Erroneous Statements.  If any person makes any statement which is false or erroneous, fails to state or furnish any material fact or information or fails to correct any such information which has been previously furnished to the Trustee, the Company or any other Participating Company, the benefits payable with respect to such person shall be adjusted, if necessary, upon the discovery of the accurate information.  The amount of any payments theretofore made in reliance on incorrect information shall be recalculated, if necessary, and reasonable steps shall be taken to recover any overpayment (including, but not limited to, a reduction of succeeding payments), as the Plan Committee may determine.  If any incorrect benefit is paid for any reason, reasonable steps shall be taken to correct such incorrect benefit (including, but not limited to, a reduction of succeeding payments in the amount of overpayment), as the Plan Committee may determine.

 

(g)            Effect of Re-Employment on Payment of Plan Benefit.  If a Participant is reemployed by any member of the Affiliated Group before his or her Plan Benefit has been distributed, distribution of his or her Plan Benefit under Section 12 shall not be made prior to the termination of his or her employment following re-employment.

 

(h)            Governing Law.  This Plan shall be construed in accordance with ERISA and, to the extent not preempted by ERISA, the laws of the State of Delaware.

 

(i)            Beneficiary.  Each Participant shall, in the form and manner prescribed by the Plan, designate a person(s) or entity (estate or trust) to be such Participant’s “Beneficiary” to receive amounts payable under the Plan in the event of the death of the Participant.  A 

 

 

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designation must be received by the Plan prior to the Participant’s death to be a valid designation.  Any designation by a married Participant of a person other than his or her spouse as Beneficiary shall be effective only if his or her spouse consents in writing to such designation.  Such consent shall acknowledge the effect of such designation and shall be witnessed by a representative of the Company (if available) or a notary public.  The spouse may revoke such consent only in the event that the Participant changes his or her Beneficiary designation.  Subject to the foregoing, a Participant may change his or her Beneficiary from time to time in accordance with procedures established by the Plan Committee.  If the Participant has not designated a Beneficiary, or if the designated Beneficiary (or Beneficiaries) are not living at the time any payment is to be made hereunder, then (i) the spouse of the deceased Participant shall be his or her Beneficiary; or (ii) if the Participant has no spouse living at the time of such payment, his or her then living children shall be his or her Beneficiaries, in equal shares; or (iii) if the Participant has neither a spouse nor children living at the time of such payment, his or her then living parents shall be his or her Beneficiaries, in equal shares; or (iv) if the Participant has neither a spouse nor children nor parents living at the time of such payment, his or her then living brothers and sisters shall be his or her Beneficiaries, in equal shares; or (v) if none of the individuals described in (i) through (iv) are living at the time of such payment, his or her estate shall be his or her Beneficiary.  Solely for purposes of the immediately preceding sentence, the term “spouse” shall include domestic partners.  For such purpose, a “domestic partner” shall mean the person with whom the Participant has signed and filed a notarized declaration of domestic partnership form as prescribed by the Company.

 

In the case of a Former HP Participant whose Account was transferred to this Plan from the HPI Plan, the beneficiary designation shall remain in effect, and any consent to a non-spouse beneficiary shall remain a valid consent, unless and until changed in accordance with the procedures established by the Plan Committee.

 

 

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A Beneficiary who makes a “qualified disclaimer” (as such term is defined in section 2518(b) of the Code) that meets the requirements of section 2518(b) of the Code and that is valid under applicable state law shall be treated as dying before the Participant, provided that such disclaimer is actually received by the Plan Committee (or its delegate) prior to the payment of any death benefit under the Plan, including full vesting.

 

(j)            Lost Participant or Beneficiary.  If the Plan Committee is unable to locate a Participant or Beneficiary who is entitled to receive any property which constitutes all or part of a Plan Benefit, then the Plan Committee may (but need not) reallocate such property among other Participants.  In the event that such Participant or Beneficiary thereafter makes a claim for such property, the Plan Committee shall reinstate such property (without income, gains or other adjustment) by making a special contribution to the Plan as soon as reasonably practicable after such claim is made.  However, if any property which constitutes all or part of a Plan Benefit would have been lost by reason of escheat, then such property shall not be subject to reinstatement by the Plan Committee.

 

(k)            Rollover From Eligible Retirement Plan.  With the consent of the Plan Committee, and in the form and manner prescribed by the Plan, an Eligible Employee may contribute all or any part of an “eligible rollover distribution” within the meaning of section 402(f)(2)(A) of the Code to the Plan, through a rollover in accordance with section 402(c), 403(a)(4), 403(b)(8)(A), or 457(e)(16)(A) of the Code, including a direct transfer in accordance with section 401(a)(31) of the Code and the regulations thereunder.

 

 

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(l)            Rollover From IRA.  With the consent of the Plan Committee, and in the form and manner prescribed by the Plan Committee, an Eligible Employee may contribute to the Plan all or any portion of a distribution from an individual retirement account or annuity which meets the requirements of section 408(a) or 408(b) of the Code that is eligible to be rolled over and would otherwise be includible in gross income.

 

(m)            Return of Contributions.  Each contribution to the Plan by the Participating Companies is expressly conditioned on its deductibility under section 404 of the Code.  In the event a deduction for such contributions is disallowed in whole or in part, the amount disallowed (reduced by any losses incurred with respect to such amount) shall be returned to the Participating Companies within one (1) year after the date of the disallowance of the deduction.  In addition, if a Participating Company makes any contribution because of a mistake of fact, then the amount contributed because of the mistake (reduced by any losses incurred with respect to such amount) may be returned to such Participating Company within one (1) year after the date the mistaken contribution was made.

 

(n)            Voting Rights.  Voting rights of Participants with respect to Stock shall be governed by the terms of the Trust Agreement and Section 10.

 

(o)            Compliance With USERRA.  Notwithstanding any other provision of the Plan to the contrary, with regard to an Employee who after serving in the uniformed services is reemployed on or after December 12, 1994, within the time required by the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended (“USERRA”), contributions, benefits and service credit shall be provided under the Plan with respect to his or her qualified military service (as defined in section 414(u)(5) of the Code) in accordance with section 414(u) of the Code.  With respect to an Eligible Employee who continues to participate in the Plan 

 

 

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during a period of qualifying military service, (1) as permitted by section 414(u)(7) of the Code, for purposes of determining such Employee’s rate of Deferred Contributions, Eligible Compensation may be treated as the pay rate that would have been received by the Employee but for the period of qualifying military service; and (2) an Employee may elect to suspend his or her loan repayments during such period of qualifying military service without having such suspension treated as extending the term of such loan, as permitted by section 414(u)(4) of the Code.  In the case of a Participant who dies while performing qualified military service (as defined in section 414(u)(5) of the Code), the survivors of such Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan had the Participant resumed and then terminated employment on account of death, including full vesting.

 

(p)            Unpaid Amounts.  To the extent not inconsistent with Section 15(i), if any payment due to a person remains unpaid at his or her death, the payment will be made to (i) that person’s spouse; (ii) if no spouse is living at the time of such payment, then his or her living children, in equal shares; (iii) if neither a spouse nor children are living, then his or her living parents, in equal shares; (iv) if neither spouse, nor children, nor parents are living, then his or her living brothers and sisters, in equal shares; (v) if none of the individuals described in (i) through (iv) are living, to his or her estate.  A person’s domestic partner shall be considered a person’s spouse for purposes of this paragraph.  The Company shall determine a person’s status as a domestic partner in a uniform and nondiscriminatory manner.  Such a determination shall be binding and conclusive on all parties.

 

 

 

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SECTION 16.

	
FIDUCIARY RESPONSIBILITIES AND PLAN ADMINISTRATION.

 

(a)            Named Fiduciary for Plan Administration.  The Company is the “sponsor” of the Plan.  The Plan Committee shall be the named fiduciary with respect to operation and administration of the Plan.  With respect to the operation and administration of the Plan, the Plan Committee is the plan administrator under ERISA.  The Plan Committee shall make such rules, regulations and computations and shall take such other actions to administer the Plan as it may deem necessary or appropriate, in its sole discretion.  In administering the Plan, the Plan Committee shall act in a nondiscriminatory manner to the extent required by section 401 and related sections of the Code and shall at all times discharge its duties with respect to the Plan in accordance with the standards set forth in section 404(a)(1) of ERISA.  The Plan Committee shall have sole discretion to interpret the terms of the Plan and to determine eligibility for benefits pursuant to the objective criteria set forth in the Plan, and its rules, regulations, interpretations, computations and actions shall be conclusive and binding on all persons.

 

(b)            Named Fiduciary for Management of Plan Assets.  The IRC is the named fiduciary with respect to the control and management of the assets of the Plan other than the Stock Fund and the HPI Stock Fund.  The named fiduciary with respect to the control and management of the assets of the Stock Fund (the “Stock Fund Fiduciary”) and the named fiduciary of the HPI Stock Fund shall be appointed by the IRC, acting on behalf of the Company. In the event the IRC does not appoint a Stock Fund Fiduciary, the IRC shall serve in such role. The IRC and the Stock Fund Fiduciary may, in carrying out their respective responsibilities, engage one or more Investment Managers.  Notwithstanding the foregoing, each Participant is the named fiduciary for purposes of directing the investment of his or her own account.

 

 

 

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(c)            Service Providers.  Each of the Plan Committee and the IRC may engage the services of such persons or organizations to render advice or perform services with respect to its duties and responsibilities under the Plan as it may determine to be necessary or appropriate.  Such persons or organizations may include, but shall not be limited to, actuaries, attorneys, accountants, administrators and consultants.

 

(d)            Service in Several Fiduciary Capacities.  Nothing herein shall prohibit any committee or person or group of persons from serving in more than one fiduciary capacity with respect to the Plan (including service both as Plan administrator and trustee).

 

(e)            Delegation of Fiduciary Responsibilities.

 

(i)               Plan Administration.  The Plan Committee may delegate any of its fiduciary responsibilities with respect to Plan administration to any other person or persons, including, but not limited to, Company Affiliates, directors, officers and/or employees, or a committee or committees consisting of such persons.  Any such delegation shall be terminable upon such notice as the Plan Committee, in its sole discretion, deems reasonable and prudent under the circumstances.

 

(ii)             Management of Plan Assets.  The IRC may delegate any of its fiduciary responsibilities with respect to the control and management of the assets of the Plan to the Trustee, to Company Affiliates, directors, officers and/or employees, or a committee or committees consisting of such persons.  Any such delegation shall be terminable upon such notice as the IRC, in its sole discretion, deems reasonable and prudent under the circumstances.

 

 

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(iii)            Re-delegation.  To the extent permitted under the charter of each of the Plan Committee and the IRC, each delegated authority may be re-delegated in accordance with such guidelines.

 

	
SECTION 17.

	
FUNDING POLICY AND METHOD.

 

(a)            Contributions.  The Company shall cause the Participating Companies to make Deferred Contributions and Matching Contributions required pursuant to Sections 3, 4 and 5.

 

(b)            Expenses of the Plan and Trust.  The reasonable expenses of administering the Plan and Trust shall be charged to and paid out of the Trust pursuant to directions of the Company and as may be provided in the Trust Agreement, to the extent permitted by applicable law, unless in the Company’s discretion they are paid by the Participating Companies.  The Company shall have complete and unfettered discretion to determine whether an expense of the Plan or Trust shall be paid by the Participating Companies or out of the Trust Fund, and this Section shall not be construed to require the Participating Companies to pay any portion of the expenses of the Plan and Trust that the Company has directed be paid from the Trust Fund.  The Company’s discretion and authority to direct the Trust Fund to pay any reasonable expenses of the Plan and Trust shall not be limited in any way by any prior decision or act, whether repeated or sporadic, by the Company and other Participating Companies to pay any or all expenses of the Plan and Trust.

 

(c)            Cash Requirements.  If determined necessary, from time to time, the Company shall estimate the benefits and administrative expenses to be paid out of the Trust Fund during the period for which such estimate is made and shall also estimate the Deferred Contributions and Matching Contributions to be made to the Plan during such period by the Participating Companies.  The Company shall inform the Trustee and the IRC of the estimated cash needs of 

 

 

 

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the Plan during the period for which such estimates are made.  Such estimates shall be made on an annual, quarterly, monthly or other basis as the Company shall determine.

 

	
SECTION 18.

	
CLAIMS PROCEDURE.

 

(a)            Claims for Benefits.

Except for the cashout of Plan Benefits pursuant to Section 12(f) or as required under section 401(a)(9) of the Code, no Plan Benefit will be paid to or on behalf of a Participant under the Plan until the Participant (or the Participant’s Beneficiary or an Alternate Payee) has filed a claim for benefits which contains all information which the Plan Committee may need to determine the amount and form of any payment due hereunder.  Such information may include, without limitation:  the Participant’s date of birth; the Participant’s marital status; the name, address and birth date of the Participant’s Beneficiary, if any; and copies of such proof of age or marital status as the Company may request.

 

All claims for benefits under the Plan must be made in the manner prescribed by the Plan Committee and as described more fully in the summary plan description for the Plan.

The Plan Committee has full discretion and final authority to interpret the terms of the Plan and to decide all questions involving claims submitted under the Plan.

 

(b)            Denial of Claim.  In the event any claim for benefits is denied, in whole or in part, the Plan Committee shall notify the claimant of such denial in writing and shall advise the claimant of his or her right to appeal the denial.  Such written notice shall set forth, in a manner calculated to be understood by the claimant, specific reasons for the denial, specific references to the Plan provisions on which the denial is based, a description of any information or material necessary for the claimant to perfect his or her claim, an explanation of why such material is necessary and an explanation of the Plan’s review procedure and the time limits applicable to 

 

 

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such procedures, including a statement of the claimant’s right to bring a civil action under section 502(a) of ERISA following denial on appeal.  Such written notice shall be given to the claimant within 90 days after the Plan Committee receives his or her claim, unless special circumstances require additional time for processing.  If additional time for processing is required, written notice shall be furnished to the claimant prior to the termination of the initial 90-day period.  Such notice shall indicate the special circumstances requiring the extension of time and the date by which the Plan Committee expects to render its decision on the claim for benefits.  In no event shall the decision of the Plan Committee (or its designee) be rendered more than 180 days after the claim is received.

 

	
SECTION 19.

	
APPEAL PROCEDURES.

 

(a)            Plan Administrator Discretion.  The Plan Committee has full discretion and final authority to interpret the terms of the Plan and to decide all questions involving appeals submitted under the Plan.

 

(b)            Right To Appeal.  Any person whose claim for benefits is denied, in whole or in part, or such person’s authorized representative, may appeal from the denial by submitting a written request for review of the claim to the Plan Committee within 60 days after receiving written notice of the denial.  The Plan Committee shall give the claimant (or the claimant’s representative) an opportunity to review pertinent documents in preparing a request for review.  The claimant will be provided with an opportunity to submit written comments, documents, records and other information relating to the claim for benefits.  The claimant will be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claimant’s claim for benefits (that is not privileged or protected).  On appeal, the Plan Committee will take into account all comments, documents, 

 

 

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records, and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

 

(c)            Form of Request for Review.  A request for review must be made in writing and shall be addressed as follows:  “Plan Committee, Hewlett Packard Enterprise 401(k) Plan, 3000 Hanover Street, Palo Alto, CA  94304.”  A request for review shall set forth all of the grounds upon which it is based, all facts in support thereof and any other matters which the claimant deems pertinent.  The Plan Committee may require the claimant to submit such additional facts, documents or other material as it may deem necessary or appropriate in making its review.

 

(d)            Time for Plan Administrator Action.  The Plan Committee shall act upon each request no later than the date of the quarterly meeting of the Plan Committee that immediately follows the Plan’s receipt of a request for review, unless the request for review is filed within 30 days preceding the date of such meeting.  In such case, a benefit determination will be made by no later than the date of the second meeting following the Plan’s receipt of the request for review.  If special circumstances require a further extension of time for processing, a benefit determination shall be rendered not later than the third meeting of the Plan Committee following the Plan’s receipt of the request for review, and written notice shall be furnished to the claimant prior to such extension, indicating the date by which the Plan Committee expects to render its decision on the request for review and the special circumstances requiring the extension of time.

 

(e)            Decision on Review.  Within the time prescribed by Section 19(d), the Plan Committee shall give written notice of its decision to the claimant.  In the event the Plan Committee confirms the denial of the claim for benefits, in whole or in part, such notice shall set forth, in a manner calculated to be understood by the claimant, specific reasons for such denial and specific references to the Plan provisions on which the decision was based.  The notice will 

 

 

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also include a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim (that is not privileged or protected), and a statement of the claimant’s right to bring an action under section 502(a) of ERISA.  In the event that the Plan Committee determines that the claim for benefits should not have been denied, in whole or in part, appropriate remedial action shall be taken as soon as reasonably practicable after receiving notice of the Plan Committee’s decision.

 

(f)            Rules and Procedures.  The Plan Committee may establish such rules and procedures, consistent with the Plan and with ERISA, as it may deem necessary or appropriate in carrying out its responsibilities under this Section 19.  The Plan Committee may require a claimant who wishes to submit additional information in connection with an appeal from the denial of benefits to do so at his or her own expense.

 

(g)            Exhaustion of Remedies.  No legal or equitable action for benefits under the Plan shall be brought unless and until the claimant:  (i) has submitted a claim (in the manner prescribed by the Plan Committee) for benefits; (ii) has been notified that the claim is denied; (iii) has filed a written request for a review of the claim in accordance with this Section 19; and (iv) has been notified in writing that the Plan Committee has affirmed the denial of the claim.

 

(h)            Legal Actions.  Any legal action for benefits under the Plan shall be commenced no later than the later of (i) one year following the satisfaction of the exhaustion requirements of Section 19(g), and (ii) two years from the date that the facts giving rise to the action occurred.

 

	
SECTION 20.

	
AMENDMENT AND TERMINATION OF THE PLAN.

 

(a)            Amendment and Termination.  Although the Company expects to continue the Plan indefinitely, the Company reserves the right to amend or terminate the Plan at any time by 

 

 

 

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written action of the Company’s board of directors, its delegates, or the Plan Committee.  No amendment, however, shall (i) reduce the Plan Benefits of any Participant accrued as of the date the amendment is adopted, except to the extent that a reduction in accrued benefits may be permitted by ERISA and the Code, nor (ii) divert any part of the assets of the Trust Fund to purposes other than the exclusive purposes of providing benefits to the Participants, and Beneficiaries who have an interest in the Plan and defraying the reasonable expenses of administering the Plan.

 

(b)            Termination of the Plan.  Upon the termination of the Plan (or upon the complete discontinuance of Deferred Contributions and Matching Contributions to the Plan), (i) no part of the Trust Fund shall revert to the Participating Companies nor be used for or diverted to purposes other than the exclusive purposes of providing benefits to Participants and Beneficiaries who have an interest in the Plan and defraying the reasonable expenses of administering the Plan, and (ii) the Trust shall continue until the Trust Fund has been distributed to the affected Participants as provided in Section 20(c), and (iii) the Participating Companies shall have no obligation to continue making Deferred Contributions or Matching Contributions to the Plan after the termination thereof.  Except as otherwise provided in ERISA, neither a Participating Company, the Trustee, nor any other person shall have any liability or obligation to provide benefits hereunder after such termination.  Upon the termination of the Plan, Participants and Beneficiaries shall obtain benefits solely from the Trust Fund.  Upon any termination or partial termination of the Plan or the complete discontinuance of contributions thereto (within the meaning of section 411(d)(3) of the Code) the interest of each affected Participant, Beneficiary and Alternate Payee under a qualified domestic relations order in his or her Account at the date of such termination, partial termination, or discontinuance shall be nonforfeitable.

 

 

 

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(c)            Allocation of Trust Fund Upon Termination of the Plan.  Upon the termination of the Plan (or upon the complete discontinuance of Deferred Contributions and Matching Contributions to the Plan), the Plan Benefit of each Participant shall be distributed, as the Company shall direct, to or on behalf of the Participant or his or her Beneficiary or continued in Trust until distributed in accordance with the terms of the Plan; provided, however, that the assets of the Trust Fund shall be allocated in accordance with section 403(d)(1) of ERISA.

 

Upon a partial termination of the Plan, this Section 20 shall apply only with respect to those Participants and Beneficiaries who are affected by such partial termination.

 

	
SECTION 21.

	
DEFINITIONS.

 

(a)            “Accounts” means, to the extent applicable to a Participant, one or more of the accounts set forth in Section 8(a).  Separate accounts shall be established to maintain any qualified nonelective contributions transferred to the Plan for the purpose of satisfying and complying with the rules of such contributions under the applicable federal laws and regulations.

 

(b)            “Affiliate” means any entity (whether corporation, partnership, joint venture or other entity) a substantial percentage of the equity interest of which is owned by the Company, by one or more Subsidiaries, or by the Company together with one or more Subsidiaries and which has been designated by the Company as an Affiliate for purposes of the Plan.

 

(c)            “Affiliated Group” means the Company, each Subsidiary and each Affiliate which, along with the Company, is a member of the same controlled group of corporations, trades or businesses under common control, or affiliated service group (within the meaning of sections 414(b), (c), and (m) of the Code), or which is required to be aggregated with the Company in accordance with regulations under section 414(o) of the Code.

 

(d)            “Annual Additions” means the sum of the following:

 

 

 

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(i)               Deferred Contributions allocated to a Participant’s Deferred Contribution Account for a Limitation Year;

 

(ii)             Matching Contributions allocated to a Participant’s Matching Contribution Account for a Limitation Year; plus

 

(iii)            Any employer contributions or forfeitures allocated to the Participant for the Limitation Year under any other defined contribution plan of the Company or a Subsidiary.

 

(e)            “Applicable Dividends” shall have the meaning that term has under section 404(k)(2)(A) of the Code.

 

(f)            “Beneficiary” means the person or persons described in Section 15(i).

 

(g)            “Catch-up Contributions” means a voluntary contribution made by a Participant to the Plan pursuant to an election under Section 3(f).

 

(h)            “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 

(i)            “Company” means Hewlett Packard Enterprise Company, a Delaware corporation, or its successor.

 

(j)            “Deferred Contributions” means amounts contributed to the Plan by the Participating Companies on behalf of Participants pursuant to Sections 3 and 4, and includes both Pre-Tax Contributions and Roth Contributions.

 

(k)            “Deferred Contribution Account” means the Deferred Contribution Account described in Section 8(a), to which the Deferred Contributions and Catch-up Contributions made on the Participant’s behalf are credited.

 

(l)            “Direct Rollover” means an Eligible Rollover Distribution that is paid by the Plan for the benefit of a Distributee to an Eligible Retirement Plan specified by the Distributee.

 

 

 

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(m)            “Distributee” means a Participant, a Beneficiary or an Alternate Payee under a qualified domestic relations order (as defined in section 414(p) of the Code) if he or she is the spouse or former spouse of the Participant.

 

(n)            “Distribution” means the distribution by HP to its shareholders of its interest in the Company as of the Distribution Date.

 

(o)            “Distribution Date” means on or about November 1, 2015, the date on which the Company ceased to be a member of the Hewlett-Packard Company controlled group of corporations (within the meaning of section 1563(a) of the Code).

 

(p)            “Dividend Payment Date” means the date in on which dividends on Stock are paid.

 

(q)            “Eligible Compensation” means a Participant’s regular wage or salary from a Participating Company (which for alternative work schedule employees shall be determined in accordance with the Plan’s administrative practices), including Deferred Contributions made pursuant to Sections 3 and 4, deferrals made pursuant to section 125 of the Code under the Hewlett Packard Enterprise Cafeteria Plan and pursuant to sections 132(f)(4) and 457 of the Code.  Eligible Compensation also shall include commissions and shift differentials, sick leave, vacation, jury duty, bereavement and other approved paid time off, and other payments classified as Eligible Compensation pursuant to the Company’s payroll practices.  Eligible Compensation shall not include any compensation paid to a Participant for periods during which he or she is not an Eligible Employee; nor any compensation paid for periods after the last day of the month in which he or she ceases to be an Employee; nor overtime or other premium pay, compensation for work in excess of the regular work week, bonuses or incentive pay, severance pay, company performance payments, sick leave payments payable as a lump sum, pay received under the 

 

 

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Hewlett Packard Enterprise Disability Plan (the “Disability Plan”) that is paid by the Company’s disability claims administrator, on behalf of a Participating Company, to a Participant who is on “transitional return to work status” under the Disability Plan; nor other special compensation of any kind.

 

Eligible Compensation shall not exceed $265,000 (as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with sections 401(a)(17) and 415(d) of the Code) for a Plan Year.  The cost-of-living adjustment in effect for a calendar year applies to any period, not exceeding 12 months, over which compensation is determined (determination period) beginning in such calendar year.  If a determination period consists of fewer than 12 months, the annual compensation limit will be multiplied by a fraction, the numerator of which is the number of months in the determination period, and the denominator of which is 12.  Notwithstanding the above, for purposes of this definition, the Plan Committee may elect to restrict the amount of a Participant’s Eligible Compensation in accordance with section 401(a)(17) at the end of a Plan Year, rather than throughout the Plan Year.

 

(r)            “Eligible Employee” means any Employee of a Participating Company, other than:  (i) an Employee whose employment is covered by a collective bargaining agreement (unless such agreement expressly provides for participation in the Plan); (ii) an Employee who is eligible for and receiving benefits under the Hewlett Packard Enterprise Disability Plan on account of a period of disability in excess of twenty-six (26) weeks; (iii) an Employee who is a nonresident alien with respect to the United States and who derives no earned income from a United States source (unless such Employee has been designated as an Eligible Employee by the Company); (iv) an Employee who is a United States citizen working outside the United States, unless he or she is on a United States payroll; (v) an Employee who is a resident of Puerto Rico; 

 

 

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(vi) an Employee who is deemed to be an employee of a member of the Affiliated Group pursuant to section 414(n) of the Code but who is not in fact a common-law employee of such member of the Affiliated Group; (vii) an Employee who is in a classification of employment designated by a Participating Company as “temporary” other than an Employee designated as a “Limited Term Employee”; (viii) any individual who is subject to a written agreement that provides that such individual shall not be eligible to participate in the Plan; (ix) any individual who is not classified by a member of the Affiliated Group as an Employee (but, for example, is classified as an “independent contractor”) even if such individual is later determined to be (or have been) an Employee.  An Eligible Employee shall be deemed to remain an Eligible Employee throughout any period of military service, if such Employee returns to active employment with a member of the Affiliated Group while his or her reemployment rights are protected by law.  An individual’s status as an Eligible Employee shall be determined by the Plan Committee in its sole discretion and such determination shall be conclusive and binding on all persons.

 

(s)            “Eligible Retirement Plan” means an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408(b) of the Code, a Roth individual retirement account or annuity described in section 408A of the Code, an annuity plan described in section 403(a) of the Code, an annuity contract described in section 403(b) of the Code, an eligible plan under section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this plan, or a qualified trust described in section 401(a) of the Code, that accepts a Distributee’s Eligible Rollover Distribution.  The definition of Eligible Retirement Plan shall 

 

 

49

 

 

also apply in the case of a distribution to a surviving spouse, or to a spouse or former spouse who is the Alternate Payee under a qualified domestic relation order, as defined in section 414(p) of the Code.

 

If any portion of an Eligible Rollover Distribution is attributable to payments or distributions from a designated Roth Account, an Eligible Retirement Plan with respect to such portion shall include only another designated Roth account of the individual from whose account the payments or distributions were made, or a Roth IRA of such individual.  Notwithstanding the foregoing, with respect to a Distributee who is a non-spousal Beneficiary, an “Eligible Retirement Plan” shall mean only an inherited individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408(b) of the Code, or a Roth individual retirement account or annuity described in section 408A of the Code.

 

(t)            “Eligible Rollover Distribution” means a distribution of all or any portion of the balance to the credit of a Distributee, excluding: a distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee and the Distributee’s designated Beneficiary, or for a specified period of ten years or more; a distribution to the extent such distribution is required under section 401(a)(9) of the Code; the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities); a distribution described in section 1.402(c)-2, Q&A 4 of the Treasury Regulations; and any hardship distribution.

 

A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross

 

 

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income.  However, such portion may be transferred only to an individual retirement account or annuity described in section 408(a) or (b) of the Code, or to a qualified plan described in section 401(a), or 403(a) of the Code that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible.

 

(u)            “Employee” means any individual employed by any member of the Affiliated Group.

 

(v)            “Employment Commencement Date” means the first date on which a Participant performs an hour of service, as defined in DOL Reg. § 2530.200b-2(a)(1), for the Affiliated Companies.

 

(w)            “ERISA” means the Employee Retirement Income Security Act of 1974, as it may be amended from time to time.

 

(x)            “ESOP Participant” means a Participant in the Plan who has any portion of his or her Accounts invested in the Stock Fund.  For purposes of Section 10 and the ESOP, ESOP Participants include, as applicable, the Beneficiaries and Alternate Payees of those individuals designated as ESOP Participants in the preceding sentence.

 

(y)            “Former HP Participant” means a Participant whose employment was transferred to the Company  and whose account in the HPI Plan was transferred to the Plan in connection with the Distribution.

 

(z)            “Funds” means the investment funds made available to Participants pursuant to Section 9(a).

 

(aa)            “HP” means HP Inc., formerly known as the Hewlett-Packard Company.

 

 

 

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(bb)            “HPI Plan” means the HP Inc. 401(k) Plan, formerly known as the Hewlett-Packard Company 401(k) Plan.

 

(cc)            “Investment Manager” means a person who is appointed by the IRC or Stock Fund Fiduciary pursuant to Section 16, whether or not such person is an “investment manager” as such term is defined in section 3(38) of ERISA.

 

(dd)            “IRC” means the Investment Review Committee of the Company, as constituted from time to time.

 

(ee)            “Limitation Year” means the calendar year.

 

(ff)            “Matching Contribution Account” means the Matching Contribution Account described in Section 8(a), to which the Matching Contributions made on the Participants behalf are credited.

 

(gg)            “Matching Contributions” means amounts contributed to the Plan by the Participating Companies on behalf of Participants pursuant to Section 5.

 

(hh)            “Minimum Company Contributions” means amounts contributed to the Plan by the Company on behalf of Participants in accordance with the provisions of Section 6.

 

(ii)            “Participant” means any individual who is accruing benefits under the Plan or who is receiving or entitled to receive benefits under the Plan.  “Participant” shall also include an Alternate Payee for whom a separate account is established.

 

(jj)            “Participating Company” means the Company and each member of the Affiliated Group which has been designated as a Participating Company by the Plan Committee from time to time.

 

(kk)            “Period of Severance” means the period beginning with a Participant’s Severance from Service and ending on the Participant’s next Reemployment Commencement Date.

 

 

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(ll)            “Plan” means the Hewlett Packard Enterprise 401(k) Plan, as set forth herein and as it may be amended from time to time.

 

(mm)                          “Plan Benefit” means the benefit payable to a Participant or Beneficiary, determined under Section 12.

 

(nn)            “Plan Committee” means the Plan Committee of the Company, as constituted from time to time.

 

(oo)            “Plan Year” means the calendar year.

 

(pp)            “Pre-Tax Contributions” means Eligible Employee’s contributions to the Plan in accordance with Section 3 that are not subject to taxation when contributed to the Plan.

 

(qq)            “Reemployment Commencement Date” means the first date following a Severance from Service on which a Participant performs an hour of service, as defined in DOL Reg. § 2530.200b-2(a)(1), for the Affiliated Group.

 

(rr)            “Required Beginning Date” means, with respect to a Participant, the latest date by which Plan Benefits may commence to the Participant.  With regard to a Participant who is not a five-percent (5%) owner, such date shall be the April 1 that next follows the later of (A) the calendar year in which the Participant attains age seventy and one-half (701⁄2), or (B) the calendar year in which the Participant’s employment by the Affiliated Group terminates.  With regard to a Participant who is a five-percent (5%) owner, such date shall be the April 1 that next follows the calendar year in which the Participant attains age seventy and one-half (701⁄2).

 

For purposes of this subsection, a Participant shall be considered a five-percent (5%) owner if the Participant is a five-percent (5%) owner determined in accordance with section 416 of the Code but without regard to whether the Plan is top-heavy and taking into account any modifications under section 401(a)(9) of the Code.

 

 

53

 

 

(ss)            “Rollover Contributions” means amounts contributed to the Plan pursuant to Section 15(k) or 15(l).

 

(tt)            “Rollover Contribution Account” means the Rollover Contribution Account described in Section 8(a) established pursuant to Section 15(k) or 15(l), to which the Participant’s Rollover Contributions are credited.

 

(uu)            “Roth Contributions” means an elective deferral that is: (i) designated irrevocably by the Participant at the time of the cash or deferred election as a Roth Contribution that is being made in lieu of all or a portion of the Pre-Tax Contributions the Participant is otherwise eligible to make under the Plan; and (ii) treated by the Company as includible in the Participant’s income at the time the Participant would have received that amount in cash if the Participant had not made a cash or deferred election.

 

(vv)            “Severance From Service” means the date that follows an Employment Commencement Date and is the earlier of (A) the date a Participant quits, is discharged, retires or dies; or (B) the first anniversary of the date a Participant is absent from service for any other reason (e.g., disability, vacation, leave of absence, etc.).

 

(ww)                          “Spouse” means the individual to whom the Participant is legally married.

 

(xx)            “Stock” means the common stock of Hewlett Packard Enterprise Company, par value one cent ($.01).

 

(yy)            “Subsidiary” means any corporation with respect to which the Company, one or more Subsidiaries, or the Company together with one or more Subsidiaries own not less than eighty percent (80%) of the total combined voting power of all classes of stock entitled to vote or not less than eighty percent (80%) of the total value of all shares of all classes of stock.  For purposes of Section 7, the phrase “more than fifty percent (50%)” shall be substituted for the phrase “not less than eighty percent (80%)” wherever the latter phrase occurs in the preceding sentence.

 

 

54

 

 

(zz)            “Total Compensation” means the compensation of the Participant from the Company and each Subsidiary for the Limitation Year, determined in accordance with section 1.415(c)-2(d)(4) of the Treasury Regulations, as modified by the non-elective provisions of section 1.415(c)-2(e), (f) and (g) of the Treasury Regulations as set forth below, including elective deferrals (within the meaning of section 402(g)(3) of the Code) and any amount which is contributed or deferred by the Company or a Subsidiary at the election of the Participant and which is not includible in the gross income of the Participant by reason of sections 125, 132(f)(4) and 457 of the Code.

 

Total Compensation shall include (1) regular compensation for services that, absent a severance from service, would have been paid to the Participant if the Participant continued in employment with the Company, in accordance with section 1.415(c)-2(e)(3)(ii) of the Treasury Regulations, (2) payments of back pay within the meaning of section 1.415(c)-2(g)(8) of the Treasury Regulations, and (3) “differential wage payments” within the meaning of section 3401(h)(2) of the Code.

 

Notwithstanding the foregoing, no amount of Total Compensation in excess of the applicable limit under section 401(a)(17) of the Code in effect for the Plan Year shall be considered.  This limitation on Total Compensation shall be applied in a manner consistent with the provisions contained in section 1.415(c)-2(f) of the Treasury Regulations.

 

(aaa)                          “Trust Agreement” means that certain trust agreement effective November 1, 2015, by and between the Company and the Bank of New York Mellon, as it may be amended from time to time, providing for the receipt and investment of contributions under the Plan, and any successor or additional trust agreement between the Company and a Trustee or Trustees.  To the extent not inconsistent, the terms of the Trust Agreement are incorporated herein by reference.  

 

 

55

 

 

(bbb)                          “Trustee” means Bank of New York Mellon, and any successor or additional trustee or trustees appointed pursuant to the Trust Agreement.

 

(ccc)                          “Trust Fund” means the trust fund established pursuant to the Trust Agreement.

 

(ddd)                          “Trust” means the trust established by the Trust Agreement.

 

(eee)                          “Valuation Date” means each business day the New York Stock Exchange is open.

 

(fff)            “Fiscal Quarter” shall mean any of the three-month periods beginning August 1 through October 31, November 1 through the following January 31, February 1 through April 30, and May 1 through July 31.

 

	
SECTION 22.

	
EXECUTION.

 

The Plan, as set forth herein, is hereby amended and restated this ____ day of _______________, 2015, effective as of November 1, 2015 (unless otherwise noted herein).

 

HEWLETT PACKARD ENTERPRISE COMPANY

	 	 
	
By: 

	
	 	
	 	[NAME]
	 	[TITLE]
	 	 

                                                                                        

 

 

56

 

 

APPENDIX A

TOP-HEAVY PROVISIONS

(a)            Determination of Top-Heavy Status.  Notwithstanding any other provisions of the Plan to the contrary, the following provisions shall become effective for any Plan Year in which the Plan is a “Top-Heavy Plan.”  The Plan shall be considered a Top-Heavy Plan for a Plan Year if, as of the Determination Date for such Plan Year, the Top-Heavy Ratio for the Aggregation Group exceeds 60 percent.

 

(b)            Minimum Allocations.  Notwithstanding any other provision of the Plan to the contrary, for any Plan Year during which the Plan is a Top-Heavy Plan, Matching Contributions allocated on behalf of any Participant who is employed on the last day of the Plan Year and who is not a Key Employee shall not be less than a percentage of the Participant’s Total Compensation equal to the lesser of (A) three percent, or (B) the percentage equal to the largest percentage that any Key Employee for that Plan Year receives of Matching Contributions and Deferred Contributions allocated on behalf of that Key Employee’s Total Compensation for that Plan Year.  Notwithstanding any other provision of the Plan to the contrary, Matching Contributions allocated on behalf of any Participant who is not a Key Employee that are used to satisfy the minimum allocation requirement of this Paragraph (b) shall not be included in such Participant’s Aggregate 401(m) Contributions (as defined in Section 1 of Appendix B).

 

(c)            Definitions.  For purposes of this Appendix A, the following definitions shall apply:

 

(i)                “Aggregation Group” means a group of qualified plans consisting of:

 

(A)            Each plan of the Affiliated Group in which a Key Employee participates; and each other plan of the Affiliated Group which enables any plan

 

 

A-1

 

 

in which a Key Employee participates to meet the requirements of sections 401(a)(4) or 410 of the Code; or

 

(B)            All plans of the Affiliated Group included under (A) above plus, at the election of the Plan Committee, one or more additional plans of the Affiliated Group that satisfy the requirements of sections 401(a)(4) and 410 of the Code when considered together with the plans included under (A) above.

 

(ii)              “Determination Date” means the last day of the preceding Plan Year.  The Valuation Date applicable to such Determination Date shall be the Valuation Date coinciding with or immediately preceding such Determination Date.

 

(iii)            “Key Employee” means a key employee as defined by section 416(i) of the Code and the regulations thereunder.

 

(iv)            Reserved.

 

(v)              “Top-Heavy Ratio” means the top-heavy ratio of the Aggregation Group as computed in accordance with section 416(g) of the Code and the regulations thereunder.

 

(vi)            “Total Compensation” means Total Compensation as defined under Section 21 of the Plan.

 

 

 

A-2

 

APPENDIX B

LIMITATIONS ON CONTRIBUTIONS

 

 

TABLE OF CONTENTS

	
SECTION 1. DEFINITIONS  

	
B-1

	
 

	
(a)            “ACP Test”

	
B-1

	
 

	
(b)            “Actual Contribution Percentage”

	
B-1

	
 

	
(c)            “Actual Deferral Percentage”

	
B-1

	
 

	
(d)            “ADP Test”

	
B-1

	 	(e)            “Aggregate 401(k) Contributions”	
B-1

	 	(f)            “Aggregate 401(m) Contributions”	
B-2

	 	(g)            “Annual Deferral Limit”	
B-3

	 	(h)            “Average Contribution Percentage”	
B-3

	 	(i)            “Average Deferral Percentage”	
B-4

	 	(j)            “Current Year Testing Method”	
B-4

	 	(k)            “Excess Aggregate Contributions”	
B-4

	 	(l)             “Excess Contributions”	
B-4

	 	(m)           “Excess Deferrals”	
B-5

	 	(n)            “HCE Group”	
B-5

	 	(o)            “Highly Compensated Employee”	
B-5

	 	(p)            “NHCE Group”	
B-6

	 	(q)            “Nonhighly Compensated Employee”	
B-6

	 	(r)            “Participant”	
B-6

	 	(s)            “Plan”	
B-6

	 	(t)            “Plan Coverage Change”	
B-6

	 	(u)            “Prior Year Testing Method”	
B-7

	 	(v)            “Qualified Matching Contributions”	
B-7

	 	(w)           “Qualified Nonelective Contributions”	
B-7

	 	(x)            “Section 414(s) Compensation”	
B-7

	 	(y)            “Testing Method”	
B-8

	 	(z)            “Top-Paid Group”	
B-9

	 	(aa)          “Total Compensation”	
B-10

	 		
	SECTION 2.DEFERRAL AND AVERAGE DEFERRAL PERCENTAGE LIMITATIONS	
B-10

	 	(a)            Maximum Annual Deferral Amount and Correction of Excess Deferrals.	
B-10

	 	(b)            Average Deferral Percentage Limitation	
B-11

	 	(c)       Determination of Maximum Actual Deferral Percentage and Dollar Amount of Excess Contributions.	
B-11

	 	(d)            Allocation of Excess Contributions to Highly Compensated Employees.	
B-12

	 	(e)            Correction of Excess Contributions.	
B-13

	 	(f)            Special Rules.	
B-14

	 		
	SECTION 3.AVERAGE CONTRIBUTION PERCENTAGE LIMITATIONS	
B-15

	 	(a)            Average Contribution Percentage Limitation.	
B-15

	 	(b)            Determination of Maximum Actual Contribution Percentage and Dollar Amount of Excess Aggregate Contributions.	
B-15

 

 

 

B-i

 

 

 

	 	(c)       Allocation of Excess Aggregate Contributions to Highly Compensated Employees.	
B-16

	 	(d)            Correction of Excess Aggregate Contributions.	
B-17

	 	(e)            Special Rules.	
B-118

	 		

B-ii

 

 

APPENDIX B

 

LIMITATIONS ON CONTRIBUTIONS

 

	
SECTION 1.                                      

	
DEFINITIONS

(a)            “ACP Test” means the average contribution percentage test as described in Section 3(a) of this Appendix B and as set forth in section 401(m)(2) of the Code and section 1.401(m)-2 of the Treasury Regulations.

 

(b)            “Actual Contribution Percentage” means the ratio, expressed as a percentage and computed to the nearest one-hundredth of one percent, of the Participant’s Aggregate 401(m) Contributions for the Plan Year to the Participant’s Section 414(s) Compensation for the Plan Year.

 

(c)            “Actual Deferral Percentage” means the ratio, expressed as a percentage and computed to the nearest one-hundredth of one percent, of the Participant’s Aggregate 401(k) Contributions for the Plan Year to the Participant’s Section 414(s) Compensation for the Plan Year.

 

(d)            “ADP Test” means the average deferral percentage test as described in Section 2(b) of this Appendix B and as set forth in section 401(k)(3) of the Code and section 1.401(k)-2 of the Treasury Regulations.

 

(e)            “Aggregate 401(k) Contributions” means the amount of Participating Company contributions actually paid over to the Trust on behalf of such Participant for the Plan Year.  Participating Company contributions on behalf of any Participant shall include Deferred Contributions (other than catch-up contributions) made pursuant to the Participant’s deferral election (including Excess Deferrals of Highly Compensated Employees) but shall exclude (a) Excess Deferrals of Nonhighly Compensated Employees that arise solely from Deferred Contributions made under the Plan or plans of the Company or a member of the Affiliated 

 

 

B-1

 

 

 

Group, (b) Deferred Contributions that are taken into account in the ACP Test (provided the ADP Test is satisfied both with and without exclusion of these Deferred Contributions), and (c) Deferred Contributions that are distributed to meet the limit described in Section 7.  If the Plan does not satisfy the ADP Test on the basis of Deferred Contributions, Regular Company Contributions shall be taken into account under the ADP Test, but only if the Regular Company Contributions are Qualified Matching Contributions that meet the requirements of section 1.401(k)-2(a)(6) of the Treasury Regulations.  If the Plan does not satisfy the ADP Test on the basis of the Deferred Contributions and Regular Company Contributions described in the prior sentences, Qualified Nonelective Contributions shall be taken into account under the ADP Test, but only if the Qualified Nonelective Contributions meet the requirements of section 1.401(k)-2(a)(6) of the Treasury Regulations.  An Eligible Employee who would be a Participant but for the failure to make Deferred Contributions shall be treated as a Participant on whose behalf no Deferred Contributions are made.

 

(f)            “Aggregate 401(m) Contributions” means the sum of the Employee after-tax contributions (if any) and Regular Matching Contributions (to the extent not taken into account for purposes of the ADP Test) made under the Plan on behalf of a Participant for a Plan Year.  Such Aggregate 401(m) Contributions shall not include Regular Matching Contributions that are forfeited either (a) to correct Excess Aggregate Contributions or meet the limit described in Section 7, or (b) because the contributions to which they relate are Excess Deferrals, Excess Contributions, Excess Contributions, or contributions are distributed to meet the limit described in Section 7.  If the Plan does not satisfy the ACP Test on the basis of these contributions, Deferred Contributions shall be taken into account under the ACP Test, but only if the ADP Test is met before the Deferred Contributions are used in the ACP Test and continues to be met 

 

 

 

B-2

 

 

following the exclusion of the Deferred Contributions that are used to meet the ACP Test.  If the Plan does not satisfy the ADP Test on the basis of the contributions described in the prior sentences, Qualified Nonelective Contributions shall be taken into account under the ACP Test, but only if the Qualified Nonelective Contributions meet the requirements of section 1.401(k)-2(a)(6) of the Treasury Regulations.  An Eligible Employee who would be a Participant but for the failure to make Deferred Contributions shall be treated as a Participant on whose behalf no Regular Matching Contributions are made.

 

Notwithstanding the preceding paragraph, a Participant’s Aggregate 401(m) Contributions shall not include (i) Matching Contributions that are forfeited from the Participant’s Account because the Matching Contribution is attributable to Deferred Contributions that are distributed to the Participant to correct Excess Deferrals, Excess Contributions or an excess Annual Addition and (ii) Matching Contributions that are forfeited from the Participant’s Account to correct an excess Annual Addition.

 

(g)            “Annual Deferral Limit” means (except to the extent permitted under Section 3(e) of this Appendix B and section 414(v) of the Code) for any calendar year, the maximum dollar limit in effect under section 402(g) of the Code (as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with section 402(g)(5) and 415(d) of the Code), applicable to the sum of a Participant’s Deferred Contributions and other elective deferrals (as defined in section 402(g)(3) of the Code).

 

(h)            “Average Contribution Percentage” means the average, computed to the nearest one-hundredth of one percent, of the Actual Contribution Percentages (including zero percentages) for Participants within the specified group.  

 

 

 

B-3

 

 

(i)            “Average Deferral Percentage” means the average, computed to the nearest one-hundredth of one percent, of the Actual Deferral Percentages (including zero percentages) for Participants within the specified group.

 

(j)            “Current Year Testing Method” means, for any Plan Year, the use of the Plan Year’s Average Deferral Percentage for the Plan Year’s NHCE Group for purposes of performing the Plan Year’s ADP Test and/or the use of the Plan Year’s Average Contribution Percentage for the Plan Year’s NHCE Group for purposes of performing the Plan Year’s ACP Test.

 

(k)            “Excess Aggregate Contributions” means the excess of (a) the Aggregate 401(m) Contributions made on behalf of the HCE Group for such Plan Year, over (b) the maximum of such contributions permitted by the ACP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of their Aggregate 401(m) Contributions beginning with the highest of such percentages).  Such determination shall be made after first determining Excess Deferrals and then determining Excess Contributions.

 

(l)            “Excess Contributions” means the excess of (a) the Aggregate 401(m) Contributions made on behalf of the HCE Group for such Plan Year, actually taken into account in computing the Average Deferral Percentage of members of the HCE Group for such Plan Year, over (b) the maximum amount of such contributions permitted by the ADP Test (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of the Average Deferral Percentages, beginning with the highest of such percentages). 

 

 

 

B-4

 

 

(m)           “Excess Deferrals” means the amount of a Participant’s Deferred Contributions and other elective deferrals (as defined in section 402(g)(3) of the Code) that exceed the Annual Deferral Limit.

 

(n)            “HCE Group” means, for any Plan Year, the group of Highly Compensated Employees who are eligible to contribute or have amounts contributed on their behalf for the respective Plan Year (including a Participant who is otherwise eligible but who may be suspended from making or receiving contributions by reason of withdrawing from his or her Accounts).

 

(o)            “Highly Compensated Employee” means an Employee who:

 

(i)               At any time during the year or the preceding year, was a five-percent (5%) owner (as defined in section 416(i)(1) of the Code taking into account the attribution rules as defined in section 318(a) of the Code); or

 

(ii)            For the preceding year, received Total Compensation of more than $120,000 (as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with sections 414(q)(1) and 415(d) of the Code).

 

For this purpose, the particular year of the Plan (the Plan Year) for which a determination is being made is the determination year and the preceding year (the prior Plan Year) is the look-back year.

 

A former Employee who separated from service (or is deemed to have separated) prior to the determination year, performs no service for a member of the Affiliated Group during the determination year and was a highly compensated employee, in accordance with section 414(q) of the Code as then in effect, in either his or her separation year or any determination year ending on or after his or her 55th birthday, shall be treated as a Highly Compensated Employee.  

 

 

 

B-5

 

 

The determination of who is a Highly Compensated Employee, including the determinations of the number and identity of Employees in the Top-Paid Group, will be made in accordance with section 414(q) of the Code.

 

The Company may elect to modify the method described in this Section 1(o) of Appendix B for defining “Highly Compensated Employee” by electing to apply the $120,000 limit described above with regard to whether an Employee is in the Top-Paid Group subject to the consistent application of this election to the extent required by IRS Notice 97-45 or any superseding guidance provided in a ruling, notice, or other document of general applicability issued under the authority of the Commissioner of Internal Revenue.

 

(p)            “NHCE Group” means, for any Plan Year, the group of Nonhighly Compensated Employees who are eligible to contribute or have amounts contributed on their behalf for the respective Plan Year (including a Participant who is otherwise eligible but who may be suspended from making or receiving contributions by reason of withdrawing from his or her Accounts).

 

(q)            “Nonhighly Compensated Employee” means, for any Plan Year, an Employee who is not a Highly Compensated Employee.

 

(r)            “Participant” means, for any Plan Year, an Eligible Employee who is eligible to contribute or have amounts contributed on his or her behalf for the respective Plan Year.

 

(s)            “Plan” means, for purposes of Section 2 of this Appendix B, the 401(k) portion of the Plan and for purposes of Section 3 of this Appendix B, the 401(m) portion of the Plan. Otherwise the term Plan has the meaning set forth in Section 21 of the Plan.

 

(t)            “Plan Coverage Change” means, for any Plan Year, a change in the group of Eligible Employees covered under the Plan by reason of (i) an amendment to the Plan, (ii) a Plan 

 

 

 

B-6

 

 

 

merger, consolidation or spin-off under section 414(l) of the Code,  (iii) a change in the way the Plan is aggregated or disaggregated for purposes of performing the ADP Test or ACP Test, or (iv) a combination of any of the foregoing.

 

(u)            “Prior Year Testing Method” means, for any Plan Year, the use of the preceding Plan Year’s Average Deferral Percentage for the preceding Plan Year’s NHCE Group for purposes of performing the Plan Year’s ADP Test and/or the use of the preceding Plan Year’s Average Contribution Percentage for the preceding Plan Year’s NHCE Group for purposes of performing the Plan Year’s ACP Test.

 

(v)            “Qualified Matching Contributions” means matching contributions that are nonforfeitable when made to the Plan and that are distributable only in accordance with the distribution provisions (other than hardships) applicable to Deferred Contributions.

 

(w)          “Qualified Nonelective Contributions” means contributions (other than Regular Matching Contributions and Qualified Matching Contributions) made by a Participating Company and allocated to Participants’ accounts, that (a) a Participant may not elect to receive in cash until distributed from the Plan, (b) are nonforfeitable when made to the Plan, and (c) are distributable only in accordance with the distribution provisions (other than for hardships) applicable to Deferred Contributions.

 

(x)            “Section 414(s) Compensation” means “wages” as defined in section 3401(a) of the Code for purposes of income tax withholding at the source and all other payments of compensation reportable under sections 6041(d), 6051(a)(3) and 6052 of the Code and the regulations thereunder but determined without regard to any rules that limit the remuneration included in wages or reportable compensation based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in section 3401(a)(2) of 

 

 

B-7

 

 

the Code), and modified, at the election of the Plan Committee, to exclude amounts paid or reimbursed for moving expenses incurred by the Employee, if at the time or payment or reimbursement it is reasonable to believe that the amounts are deductible by the Employee under section 217 of the Code.  The definitions set forth in the preceding sentence shall be modified to include an Employee’s elective deferrals (as defined in section 402(g)(3) of the Code) under any plan, contract or arrangement maintained by a member of the Affiliated Group and any amount which is contributed or deferred by a member of the Affiliated Group at the election of the Employee and which is not includible in the gross income of the Employee under sections 125, 132(f)(4) and 457 of the Code.

 

Section 414(s) Compensation shall be limited to $265,000 per Plan Year (as adjusted by the Commissioner of Internal Revenue for increases in the cost of living in accordance with sections 401(a)(17) and 415(d) of the Code).

 

Section 414(s) Compensation shall be determined in accordance with Treasury Regulation section 1.415(c)-2(d)(4), as modified by the non-elective provisions of Treas. Reg. section 1.415(c)-2(e), (f), and (g) as set forth herein, including elective deferrals as described above.

 

It shall include (1) regular compensation for services that, absent a severance from service, would have been paid to the Participant if the Participant continued in employment with the Company, in accordance with Treasury Regulation section 1.415(c)-2(e)(3)(ii), (2) payments of back pay within the meaning of Treasury Regulation section 1.415(c)-2(g)(8), and (3) “differential wage payments” within the meaning of section 3401(h)(2) of the Code.

 

(y)            “Testing Method” means the Current Year Testing Method.  The election to use the Current Year Testing Method can be changed to the Prior Year Testing Method only if the 

 

 

 

B-8

 

 

Plan has used the Current Year Testing Method for each of the preceding five Plan Years or if, as a result of a merger or acquisition described in section 410(b)(6)(C)(i) of the Code, the Company maintains both a plan using the Prior Year Testing Method and a plan using the Current Year Testing Method and the change is made within the transition period described in section 410(b)(6)(C)(ii) of the Code.

 

(z)            “Top-Paid Group” means, for any Plan Year, the top twenty percent (20%) (in terms of Total Compensation) of all Employees, excluding the following:

 

(i)            Any Employee covered by a collective bargaining agreement except to the extent otherwise provided under section 1.414(q)-1T of the Treasury Regulations;

 

(ii)            Any Employee who is a nonresident alien with respect to the United States and who receives no earned income (within the meaning of section 911(d)(2) of the Code) from a member of the Affiliated Group that constitutes income from sources within the United States (within the meaning of section 861(a)(3) of the Code);

 

(iii)            Any Employee who has not completed at least 500 hours of service during any six-month period by the end of the Plan Year;

 

(iv)            Any Employee who normally works less than 171⁄2  hours per week;

 

(v)            Any Employee who normally works during less than six months during any year; and

 

(vi)            Any Employee who has not attained the age of 21 at the end of the Plan Year.

 

The Plan Committee may elect, in a consistent and uniform manner, to apply one or more of the service-and-age-based exclusions in subparagraphs (iii), (iv), (v) and (vi) of this Section 

 

 

 

B-9

 

 

1(z) by substituting a shorter period of service or a younger age or by not excluding Employees on the basis of service or age.

 

(aa)            “Total Compensation” means the “Section 414(s) Compensation” as defined in Section 1(x) of Appendix B received by an Employee during the Plan Year from a member of the Affiliated Group.

 

	
SECTION 2.                                       

	
DEFERRAL AND AVERAGE DEFERRAL PERCENTAGE LIMITATIONS

(a)            Maximum Annual Deferral Amount and Correction of Excess Deferrals.  A Participant’s Deferred Contributions for a calendar year, together with his or her elective deferrals (as defined in section 402(g)(3) of the Code) under all other plans, contracts or arrangements maintained by a member of the Affiliated Group, shall not exceed the Annual Deferral Limit.  In the event a Participant’s Deferred Contributions for a calendar year, together with his or her elective deferrals (as defined in section 402(g)(3) of the Code) under any other plans to which the Participant may, by written notice to the Plan Committee by the following March 1 (or as late as April 14 if allowed by the Plan Committee) notify the Plan Committee that an Excess Deferral has occurred, designate all or a portion of the Excess Deferral as attributable to the Plan and request that the amount be distributed.  If the Participant fails to provide timely notice to the Plan Committee, then the Plan Committee shall be deemed to be on notice that an Excess Deferral has occurred and shall designate one or more of such plans, contracts or arrangements (including the Plan) from which the Excess Deferrals shall be distributed.

 

To the extent a Participant’s Deferred Contributions are determined to be reduced as described in this Section 2(a) of Appendix B,  Deferred Contributions (reduced by Deferred Contributions previously distributed as Excess Contributions to the Participant for the Plan Year beginning with or within the calendar year), plus any income or minus any loss attributable thereto for the calendar year to which the Excess Deferrals relate, shall, no later than April 15 

 

 

 

B-10

 

next following the close of the calendar year, be distributed to the Participant.  Excess Deferrals distributed shall not be included in the determination of the Participant’s Annual Addition for the year the amounts were contributed.

 

The Excess Deferrals shall be distributed first from unmatched Deferred Contributions and then from matched Deferred Contributions.  Any Matching Contributions attributable to distributed Excess Deferrals as described in this Section 2(a) of Appendix B shall be forfeited and used to reduce future Matching Contributions to be made as soon as administratively feasible.

 

Income or loss on amounts distributed shall be determined pursuant to section 1.402(g)-1(e)(5) of the Treasury Regulations.

 

(b)            Average Deferral Percentage Limitation.  The Average Deferral Percentage of Eligible Employees must satisfy one of the following tests described in Code section 401(k)(3):  (1)  the Average Deferral Percentage for Eligible Employees who are members of the HCE Group must not exceed the current Plan Year’s Average Deferral Percentage of Eligible Employees who are members of the NHCE Group, multiplied by 1.25; or (2)  the Average Deferral Percentage for Eligible Employees who are members of the HCE Group must not exceed the current Plan Year’s Average Deferral Percentage for Eligible Employees who are members of the NHCE Group, multiplied by 2.0, provided that the Average Deferral Percentage for Eligible Employees who are members of the HCE Group does not exceed the Average Deferral Percentage for Eligible Employees who are members of the NHCE Group by more than two (2) percentage points.

 

(c)            Determination of Maximum Actual Deferral Percentage and Dollar Amount of Excess Contributions.  If the ADP Test is not satisfied, the Plan Committee shall determine, no 

 

 

B-11

 

 

later than the end of the next Plan Year, a maximum permitted Actual Deferral Percentage to be used in place of the calculated Actual Deferral Percentage for each Highly Compensated Employee whose Actual Deferral Percentage is in excess of the maximum permitted and that would thereby reduce the Average Deferral Percentage for the HCE Group by a sufficient amount to satisfy the ADP Test. The maximum Actual Deferral Percentage shall be determined by use of a leveling process, whereby the Highly Compensated Employee with the largest Actual Deferral Percentage shall have his or her Actual Deferral Percentage reduced to a percentage equal to the lesser of the percentage required to satisfy the ADP Test or to cause his or her Actual Deferral Percentage to equal that of the Actual Deferral Percentage of the Highly Compensated Employee with the next largest Actual Deferral Percentage.  The leveling process shall be repeated until the ADP Test is satisfied.

 

With regard to each Highly Compensated Employee whose Actual Deferral Percentage is in excess of the maximum permitted Actual Deferral Percentage, a dollar amount of Excess Contributions shall then be determined by subtracting the product of the maximum permitted Actual Deferral Percentage and the Highly Compensated Employee’s Section 414(s) Compensation from the Highly Compensated Employee’s Aggregate 401(k) Contributions.  The amounts shall then be aggregated to determine the total dollar amount of Excess Contributions.

 

(d)            Allocation of Excess Contributions to Highly Compensated Employees.  The Excess Contributions for a Plan Year determined in Section 2(c) of this Appendix B, if any, shall then be allocated to Highly Compensated Employees by use of a leveling process, whereby the Highly Compensated Employee with the largest dollar amount of Aggregate 401(k) Contributions shall have his or her Aggregate 401(k) Contributions reduced in an amount equal to the lesser of the dollar amount of Excess Contributions for all Highly Compensated 

 

 

 

B-12

 

 

Employees or the dollar amount that would cause his or her Aggregate 401(k) Contributions to equal that of the Highly Compensated Employee with the next largest dollar amount of Aggregate 401(k) Contributions.  The leveling process shall be repeated until all Excess Contributions are allocated to Highly Compensated Employees.

 

(e)            Correction of Excess Contributions.  To the extent a Highly Compensated Employee’s Aggregate 401(k) Contributions are determined to be reduced as described in Section 2(d) of this Appendix B, Excess Contributions (reduced by Deferred Contributions previously distributed as Excess Deferrals to the Highly Compensated Employee for the calendar year ending with or within the Plan Year), plus any income or minus any loss attributable thereto for the Plan Year to which the Excess Contributions relate, shall, no later than two and one-half months following the last day of the Plan Year to which the Excess Contributions relate (in order to avoid a ten percent (10%) excise tax on the amount of the Excess Contributions), and, in no event, later than the last day of the Plan Year following the Plan Year to which the Excess Contributions relate, be distributed (except to the extent such Excess Contributions are classified as Catch-up Contributions) to the Highly Compensated Employee.  To the extent a Highly Compensated Employee has not reached his or her Catch-up Contribution limit under the Plan, Excess Contributions allocated to such Highly Compensated Employee are Catch-up Contributions and will not be treated as excess amounts.

 

Excess Contributions distributed shall be included in the determination of the Participant’s Annual Addition for the year the amounts were contributed.

 

The Excess Contributions shall first be distributed from unmatched Deferred Contributions and then from matched Deferred Contributions.  Any Matching Contributions attributable to distributed Excess Contributions as described in this Section 2(e) of Appendix B, 

 

 

 

B-13

 

 

 

shall be forfeited and used to reduce future Matching Contributions to be made as soon as administratively feasible.

 

The Excess Contributions distributed to a Participant with respect to a Plan Year shall be adjusted on a pro-rata basis for income or loss for the Plan Year.

 

(f)            Special Rules.  The following special rules shall apply for purposes of applying the limitation described in Section 2(b) of this Appendix B:

 

(i)              The Actual Deferral Percentage for any Highly Compensated Employee who is eligible to have Aggregate 401(k) Contributions allocated to his or her accounts under two or more arrangements described in section 401(k) of the Code that are maintained by the Company or a member of the Affiliated Group, shall be determined as if such elective deferrals (and, if applicable, such qualified non-elective contributions or qualified matching contributions, or both) were made under a single arrangement.  If a Highly Compensated Employee participates in two or more cash or deferred arrangements of the Company or a member of the Affiliated Group that have different plan years, all elective deferrals made during the Plan Year under all such arrangements shall be aggregated.  Notwithstanding the foregoing, certain plans shall be treated as separate if mandatorily disaggregated under regulations under section 401(k) of the Code.

 

(ii)            The Plan may be aggregated with another plan maintained by the Company or a member of the Affiliated Group only if the Plan and each other plan with which it is aggregated have the same plan year and use the same ADP testing method, and provided the plans are not subject to mandatory disaggregation under regulations under section 401(k) of the Code.  

 

 

 

B-14

 

 

(iii)           In the event that this Plan satisfies the requirements of sections 401(k), 401(a)(4), or 410(b) of the Code only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such sections of the Code only if aggregated with this Plan, then this Section 2 of Appendix B shall be applied by determining the Actual Deferral Percentages of Employees as if all such plans were a single plan.

 

(iv)            For purposes of determining the Actual Deferral Percentages, Deferral Contributions, Qualified Nonelective Contributions and Qualified Matching Contributions, contributions must be made before the end of the 12-month period immediately following the Plan Year to which the contributions relate.

 

	
SECTION 3.                                       

	
AVERAGE CONTRIBUTION PERCENTAGE LIMITATIONS

(a)            Average Contribution Percentage Limitation.  The Average Contribution Percentage for Eligible Employees must satisfy one of the following tests described in section 401(m)(2) of the Code:  (1)  the Average Contribution Percentage of Eligible Employees who are members of the HCE Group must not exceed the current Plan Year’s Average Contribution Percentage for Eligible Employees who are members of the NHCE Group, multiplied by 1.25; or (2)  the Average Contribution Percentage for Eligible Employees who are members of the HCE Group must not exceed the current Plan Year’s Average Contribution Percentage for Eligible Employees who are members of the NHCE Group, multiplied by 2.0, provided that the Average Contribution Percentage for Eligible Employees who are members of the HCE Group does not exceed the Average Contribution Percentage for Eligible Employees who are members of the NHCE Group by more than two (2) percentage points.

 

(b)            Determination of Maximum Actual Contribution Percentage and Dollar Amount of Excess Aggregate Contributions.  If the ACP Test is not satisfied, the Plan Committee shall 

 

 

 

B-15

 

 

determine, no later than the end of the next Plan Year, a maximum permitted Actual Contribution Percentage to be used in place of the calculated Actual Contribution Percentage for each Highly Compensated Employee whose Actual Contribution Percentage is in excess of the maximum permitted and that would thereby reduce the Average Contribution Percentage for the HCE Group by a sufficient amount to satisfy the ACP Test.  The maximum Actual Contribution Percentage shall be determined by use of a leveling process, whereby the Highly Compensated Employee with the largest Actual Contribution Percentage shall have his or her Actual Contribution Percentage reduced to a percentage equal to the lesser of the percentage required to satisfy the ACP Test or to cause his or her Actual Contribution Percentage to equal that of the Actual Contribution Percentage of the Highly Compensated Employee with the next largest Actual Contribution Percentage.  The leveling process shall be repeated until the ACP Test is satisfied.

 

With regard to each Highly Compensated Employee whose Actual Contribution Percentage is in excess of the maximum permitted Actual Contribution Percentage, a dollar amount of Excess Aggregate Contributions shall then be determined by subtracting the product of the maximum permitted Actual Contribution Percentage and the Highly Compensated Employee’s Section 414(s) Compensation from the Highly Compensated Employee’s Aggregate 401(m) Contributions.  The amounts shall then be aggregated to determine the total dollar amount of Excess Aggregate Contributions.

 

(c)            Allocation of Excess Aggregate Contributions to Highly Compensated Employees.  The Excess Aggregate Contributions for a Plan Year determined in Section 3(b) of this Appendix B, if any, shall then be allocated to Highly Compensated Employees by use of a leveling process, whereby the Highly Compensated Employee with the largest dollar amount of 

 

 

 

B-16

 

 

Aggregate 401(m) Contributions shall have his or her Aggregate 401(m) Contributions reduced in an amount equal to the lesser of the dollar amount of Excess Aggregate Contributions for all Highly Compensated Employees or the dollar amount that would cause his or her Aggregate 401(m) Contributions to equal that of the Highly Compensated Employee with the next largest dollar amount of Aggregate 401(m) Contributions.  The leveling process shall be repeated until all Excess Aggregate Contributions are allocated to Highly Compensated Employees.

 

(d)            Correction of Excess Aggregate Contributions.  To the extent a Highly Compensated Employee’s Aggregate 401(m) Contributions are determined to be reduced as described in Section 3(c) of this Appendix B, Excess Aggregate Contributions, plus any income or minus any loss attributable thereto for the Plan Year to which the Excess Aggregate Contributions relate, shall, no later than two and one-half months following the last day of the Plan Year to which the Excess Aggregate Contributions relate (in order to avoid a ten percent (10%) excise tax on the amount of the Excess Aggregate Contributions), and, in no event, later than the last day of the Plan Year following the Plan Year to which the Excess Aggregate Contributions relate, be distributed (except to the extent such Excess Aggregate Contributions are classified as Catch-up Contributions) to the Highly Compensated Employee. To the extent a Highly Compensated Employee has not reached his or her Catch-up Contribution limit under the Plan, Excess Aggregate Contributions allocated to such Highly Compensated Employee are Catch-up Contributions and will not be treated as excess amounts.

 

Excess Aggregate Contributions distributed shall be included in the determination of the Participant’s Annual Addition for the year the amounts were contributed.

 

The Excess Aggregate Contributions shall be distributed from Matching Contributions.

 

 

 

B-17

 

 

 

The Excess Aggregate Contributions distributed to a Participant with respect to a Plan Year shall be adjusted on a pro-rata basis for income or loss for the Plan Year.

 

(e)            Special Rules.  The following special rules shall apply for purposes of applying the limitation described in Section 3(a) of this Appendix B:

 

(i)              The Actual Contribution Percentage for any Highly Compensated Employee who is eligible to have Aggregate 401(m) Contributions allocated to his or her accounts under two or more plans described in section 401(a) of the Code, or arrangements described in section 401(k) of the Code, that are maintained by the Company or a member of the Affiliated Group, shall be determined as if such total Aggregate Contribution Percentages were made under each plan and arrangement.  If a Highly Compensated Employee participates in two or more such plans or arrangements of the Company or a member of the Affiliated Group that have different plan years, all Aggregate 401(m) Contributions made during the Plan Year under all such plans and arrangements shall be aggregated.  Notwithstanding the foregoing, certain plans shall be treated as separate if mandatorily disaggregated under regulations under section 401(m) of the Code.

 

(ii)            The Plan may be aggregated with another plan maintained by the Company or a member of the Affiliated Group only if the Plan and each other plan with which it is aggregated have the same plan year and use the same ACP testing method, and provided the plans are not subject to mandatory disaggregation under regulations under section 401(m) of the Code.

 

(iii)            In the event that this Plan satisfies the requirements of sections 401(m), 401(a)(4), or 410(b) of the Code only if aggregated with one or more other plans, or if 

 

 

B-18

 

 

 

one or more other plans satisfy the requirements of such sections of the Code only if aggregated with this Plan, then this Section 3 of Appendix B shall be applied by determining the Actual Contribution Percentages of Employees as if all such plans were a single plan.

 

(iv)            For purposes of determining the Actual Contribution Percentages, Employee after-tax contributions are considered to have been made in the Plan Year in which contributed to the Trust.  Regular Matching Contributions, Qualified Matching Contributions, and Qualified Nonelective Contributions must be made before the end of the 12-month period immediately following the Plan Year to which the contributions relate.

 

 

B-19

 

APPENDIX C

SPECIAL RULES FOR ACQUISITIONS AND DISPOSITIONS

 

1.            Digital Equipment Corporation Savings and Investment Plan

 

This subsection applies to Participants who previously participated in the Digital Equipment Corporation Savings and Investment Plan (the “Digital Plan”) whose Digital Plan account was transferred to the Compaq Plan prior to its merger into the HPI Plan.

 

(a)            A Digital Plan Participant who receives long-term disability benefits under the Company’s Disability Plan for more than 26 consecutive weeks but who has not otherwise separated from service from the Company or an Affiliated Group may make a withdrawal from his Account for any reason, but with such prior notice as the Plan Committee may prescribe.  Any such withdrawal shall be in the amount specified by the Participant, up to the value of the Participant’s Compaq Plan account determined as of the Valuation Date next following the Plan Committee’s receipt of notice of the withdrawal.  Payment to the Participant shall be made as soon as reasonably practicable after such Valuation Date.

 

(b)            The Plan’s rules on distributions and withdrawals shall apply to the extent they are not inconsistent with this Appendix.

 

2.            Tower Software.

(a)            Background and Purpose.  On or about May 8, 2008, (the “Tower Closing Date”),

HP completed its acquisition of Tower Software Engineering Pty Ltd. (“Tower”).  The Tower 401(k) Plan was merged with and into the HPI Plan, effective July 1, 2008 (the “Tower Plan Merger Date”), and all provisions of the HPI Plan replaced and superseded all provisions of the Tower Plan.  Each participant who had an account balance under the Tower Plan as of the Tower Plan Merger Date became a participant of the HPI Plan (“Tower Participant”) as of such date.

 

 

 

C-1

 

 

(b)            Asset Transfer.  The assets of the Tower Plan became assets of the HPI Plan and held as part of the trust established under the HPI Plan as of the Tower Plan Merger Date, and such assets were transferred by the trustee of the Tower Plan to the Trustee of the Plan as soon as administratively feasible after the Tower Plan Merger Date (the “Tower Asset Transfer Date”), adjusted for any earnings or losses from the Tower Plan Merger Date through the Tower Asset Transfer Date.  All assets were transferred in cash, except that loans from the Tower Plan to Tower Participants that were outstanding as of the Tower Asset Transfer Date (“Tower Plan Loans”) were transferred in kind.  The transferred assets (other than Tower Plan Loans) were be invested in accordance with the investment elections of the Tower Participants as in effect on the Tower Plan Merger Date, until changed in accordance with the investment election provisions of the HPI Plan.

 

(c)            Service Credit.  For purposes of eligibility and vesting under the Plan, each Tower Participant was credited with service equal to the service credited to such participant pursuant to the terms of the Tower Plan as of the Tower Plan Merger Date.

 

(d)            Allocation of Contributions, Forfeitures, and Earnings.  Allocations of contributions, forfeitures, and earnings for all periods prior to July 1, 2008 were made separately under the Tower Plan and the HPI Plan based upon the terms and provisions of the respective plans.

 

(e)            Merger Protection.  Immediately after the Tower Plan Merger Date, each Tower Participant was, in the event the HPI Plan than terminated, entitled to a benefit equal to or greater than the benefit to which such Participant would have been entitled under the Tower Plan immediately prior to such date if the Tower Plan had then been terminated.  The provisions of 

 

 

 

C-2

 

 

the preceding sentence shall be construed under the applicable federal regulations pursuant to section 208 of ERISA and section 414(l) of the Code.

 

(f)             Optional Benefits.  With respect to Tower Participants, the Plan shall continue to preserve all optional forms of benefit and rights under the Tower Plan required to be preserved pursuant to section 411(d)(6) of the Code and any Treasury regulations issued thereunder.

 

(g)            Inconsistent Provisions.  Any provision of the Plan or the Tower Plan which is inconsistent with any provision of this instrument shall be considered to be and hereby is amended by this instrument.

 

3.            HP Enterprise Services, LLC.

 

(a)            Background and Purpose.  On or about August 26, 2008 (the “EDS Closing Date”), HP completed its acquisition of Electronic Data Systems Corporation, now known as HP Enterprise Services, LLC (“EDS”).  The EDS 401(k) Plan (the “EDS Plan”) was merged with and into the Plan, effective December 31, 2010, at 11:59 p.m. (the “EDS Plan Merger Date”), and all provisions of the HPI Plan replaced and superseded all provisions of the EDS Plan.  Each participant who had an account balance under the EDS Plan as of the EDS Plan Merger Date became a participant of the HPI Plan (“EDS Participant”) as of such date.

 

(b)            Asset Transfer.  The assets of the EDS Plan became assets of the Plan and held as part of the trust established under the Plan as of the EDS Plan Merger Date, and such assets were transferred by the trustee of the EDS Plan to the Trustee of the Plan as soon as administratively feasible after the EDS Plan Merger Date (the “EDS Asset Transfer Date”), adjusted for any earnings or losses from the EDS Plan Merger Date through the EDS Asset Transfer Date.  All assets were transferred in cash, except that loans from the EDS Plan to EDS Participants that were outstanding as of the EDS Asset Transfer Date (“EDS Plan Loans”) were transferred in 

 

 

 

C-3

 

 

kind.  The transferred assets (other than EDS Plan Loans) were invested in accordance with the investment elections of the EDS Participants as in effect on the EDS Plan Merger Date, until changed in accordance with the investment election provisions of the Plan.

 

(c)            Service Credit.  For purposes of eligibility and vesting under the Plan, each EDS Participant was credited with service under the HPI Plan equal to the service credited to such participant pursuant to the terms of the EDS Plan as of the EDS Plan Merger Date.

 

(d)            Allocation of Contributions, Forfeitures, and Earnings.  Allocations of contributions, forfeitures, and earnings for all periods prior to December 31, 2010, were made separately under the EDS Plan and the HPI Plan based upon the terms and provisions of the respective plans.

 

(e)            Merger Protection.  Immediately after the EDS Plan Merger Date, each EDS Participant was, in the event the HPI Plan than terminated, entitled to a benefit equal to or greater than the benefit to which such Participant would have been entitled under the EDS Plan immediately prior to such date if the EDS Plan had then been terminated.  The provisions of the preceding sentence shall be construed under the applicable federal regulations pursuant to section 208 of ERISA and section 414(l) of the Code.

 

(f)            Optional Benefits.  With respect to EDS Participants, the Plan shall preserve all optional forms of benefit and rights under the EDS Plan required to be preserved pursuant to section 411(d)(6) of the Code and any Treasury regulations issued thereunder.

 

(g)            Inconsistent Provisions.  Any provision of the Plan or the EDS Plan which is inconsistent with any provision of this instrument shall be considered to be and hereby is amended by this instrument.  

 

 

 

C-4

 

4.            MICROLINK.

 

(a)            Background and Purpose.  On or about October 3, 2011, HP completed its acquisition of Autonomy Corporation plc, and, indirectly, its U.S. subsidiary Microlink, LLC (“Microlink”).  The Microlink, LLC 401(k) Profit Sharing Plan and Trust (“Microlink Plan”) was merged with and into the Plan, effective December 31, 2014, at 11:59 p.m. (the “Microlink Plan Merger Date”), and all provisions of the HPI Plan replaced and superseded all provisions of the Microlink Plan.  Each participant who had an account balance under the Microlink Plan as of the Microlink Plan Merger Date became a participant of the HPI Plan (“Microlink Participant”) as of such date.

 

(b)            Asset Transfer.  The assets of the Microlink Plan became assets of the HPI Plan and held as part of the trust established under the HPI Plan as of the Microlink Plan Merger Date, and such assets were transferred by the trustee of the Microlink Plan to the Trustee of the Plan as soon as administratively feasible after the Microlink Plan Merger Date (the “Microlink Asset Transfer Date”), adjusted for any earnings or losses from the Microlink Plan Merger Date through the Microlink Asset Transfer Date.  All assets were transferred in cash, except that loans from the Microlink Plan to Microlink Participants that were outstanding as of the Microlink Asset Transfer Date (“Microlink Plan Loans”) were transferred in kind.  The transferred assets (other than Microlink Plan Loans) were invested in accordance with the investment elections of the Microlink Participants as in effect on the Microlink Plan Merger Date, until changed in accordance with the investment election provisions of the HPI Plan.

 

(c)            Service Credit.  For purposes of eligibility and vesting under the Plan, each Microlink Participant was credited with service equal to the service credited to such participant pursuant to the terms of the Microlink Plan as of the Microlink Plan Merger Date. (d)Allocation of Contributions, Forfeitures, and Earnings.  Allocations of contributions, forfeitures, and earnings for all periods prior to December 31, 2014 were made separately under the Microlink Plan and the HPI Plan based upon the terms and provisions of the respective plans.

 

 

 

C-5

 

 

(e)            Merger Protection.  Immediately after the Microlink Plan Merger Date, each Microlink Participant was, in the event the Plan than terminated, entitled to a benefit equal to or greater than the benefit to which such Participant would have been entitled under the Microlink Plan immediately prior to such date if the Microlink Plan had then been terminated.  The provisions of the preceding sentence shall be construed under the applicable federal regulations pursuant to section 208 of ERISA and section 414(l) of the Code.

 

(f)            Optional Benefits.  With respect to Microlink Participants, the Plan shall preserve all optional forms of benefit and rights under the Microlink Plan required to be preserved pursuant to section 411(d)(6) of the Code and any Treasury regulations issued thereunder.  Notwithstanding the foregoing, from and after June 15, 2015, no Microlink Participant shall be entitled to elect a distribution of his account balance attributable to the Microlink Plan in any form other than a lump sum, except as otherwise provided under Section 12(c) of the Plan, and any other optional form of benefit distribution was eliminated, as permitted under section 411(d)(6) of the Code and the Treasury regulations issued thereunder.

 

(g)            Inconsistent Provisions.  Any provision of the Plan or the Microlink Plan which is inconsistent with any provision of this instrument shall be considered to be and hereby is amended by this instrument.

C-6EX-4.1

 EXHIBIT 4.1 

FORM OF SENIOR INDENTURE 
  

 
  

CLECO CORPORATION 
 as Issuer

 and 

[                       
              ] 
  

 
 as Trustee

  
  

Indenture 
 Dated as of
                        , 
  

 
 Debt Securities

  
  

 

 CLECO CORPORATION 

Reconciliation and tie between Trust Indenture Act of 1939 

and Indenture, dated as of
                        , 
  

							
	 Section of
 Trust
Indenture
 Act of 1939
	  	Section(s) of
Indenture
	 	§310	  	  	(a)(1)	  	7.10
				  	(a)(2)	  	7.10
				  	(a)(3)	  	Not Applicable
				  	(a)(4)	  	Not Applicable
				  	(a)(5)	  	7.10
				  	(b)	  	7.08, 7.10
	 	§311	  	  	(a)	  	7.11
				  	(b)	  	7.11
				  	(c)	  	Not Applicable
	 	§312	  	  	(a)	  	2.07
				  	(b)	  	10.03
				  	(c)	  	10.03
	 	§313	  	  	(a)	  	7.06
				  	(b)	  	7.06
				  	(c)	  	7.06
				  	(d)	  	7.06
	 	§314	  	  	(a)	  	4.03, 4.04
				  	(b)	  	Not Applicable
				  	(c)(1)	  	10.04
				  	(c)(2)	  	10.04
				  	(c)(3)	  	Not Applicable
				  	(d)	  	Not Applicable
				  	(e)	  	10.05
	 	§315	  	  	(a)	  	7.01(b)
				  	(b)	  	7.05
				  	(c)	  	7.01(a)
				  	(d)	  	7.01(c)
				  	(d)(1)	  	7.01(c)(1)
				  	(d)(2)	  	7.01(c)(2)
				  	(d)(3)	  	7.01(c)(3)
				  	(e)	  	6.11
	 	§316	  	  	(a)(1)(A)	  	6.05
				  	(a)(1)(B)	  	6.04
				  	(a)(2)	  	Not Applicable
				  	(a)(last sentence)	  	2.11
				  	(b)	  	6.07
	 	§317	  	  	(a)(1)	  	6.08
				  	(a)(2)	  	6.09
				  	(b)	  	2.06
	 	§318	  	  	(a)	  	10.01

  
  

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

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I     DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	     SECTION 1.01
	 	Definitions	  	 	1	  
	     SECTION 1.02
	 	Other Definitions	  	 	5	  
	     SECTION 1.03
	 	Incorporation by Reference of Trust Indenture Act	  	 	5	  
	     SECTION 1.04
	 	Rules of Construction	  	 	6	  
		
	 ARTICLE II     THE SECURITIES
	  	 	6	  
			
	     SECTION 2.01
	 	Amount Unlimited; Issuable in Series	  	 	6	  
	     SECTION 2.02
	 	Denominations	  	 	9	  
	     SECTION 2.03
	 	Forms Generally	  	 	9	  
	     SECTION 2.04
	 	Execution, Authentication, Delivery and Dating	  	 	10	  
	     SECTION 2.05
	 	Registrar and Paying Agent	  	 	11	  
	     SECTION 2.06
	 	Paying Agent to Hold Money in Trust	  	 	12	  
	     SECTION 2.07
	 	Holder Lists	  	 	12	  
	     SECTION 2.08
	 	Transfer and Exchange	  	 	13	  
	     SECTION 2.09
	 	Replacement Securities	  	 	13	  
	     SECTION 2.10
	 	Outstanding Securities	  	 	13	  
	     SECTION 2.11
	 	Original Issue Discount, Foreign-Currency Denominated and Treasury Securities	  	 	14	  
	     SECTION 2.12
	 	Temporary Securities	  	 	14	  
	     SECTION 2.13
	 	Cancellation	  	 	15	  
	     SECTION 2.14
	 	Payments; Defaulted Interest	  	 	15	  
	     SECTION 2.15
	 	Persons Deemed Owners	  	 	15	  
	     SECTION 2.16
	 	Computation of Interest	  	 	15	  
	     SECTION 2.17
	 	Global Securities; Book-Entry Provisions	  	 	16	  
		
	 ARTICLE III     REDEMPTION
	  	 	18	  
			
	     SECTION 3.01
	 	Applicability of Article	  	 	18	  
	     SECTION 3.02
	 	Notice to the Trustee	  	 	18	  
	     SECTION 3.03
	 	Selection of Securities To Be Redeemed	  	 	18	  
	     SECTION 3.04
	 	Notice of Redemption	  	 	19	  
	     SECTION 3.05
	 	Effect of Notice of Redemption	  	 	19	  
	     SECTION 3.06
	 	Deposit of Redemption Price	  	 	20	  
	     SECTION 3.07
	 	Securities Redeemed or Purchased in Part	  	 	20	  
	     SECTION 3.08
	 	Purchase of Securities	  	 	20	  
	     SECTION 3.09
	 	Mandatory and Optional Sinking Funds	  	 	20	  
	     SECTION 3.10
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	21	  
	     SECTION 3.11
	 	Redemption of Securities for Sinking Fund	  	 	21	  

  
 i 

							
	 ARTICLE IV     COVENANTS
	  	 	22	  
			
	     SECTION 4.01
	 	Payment of Securities	  	 	22	  
	     SECTION 4.02
	 	Maintenance of Office or Agency	  	 	22	  
	     SECTION 4.03
	 	SEC Reports; Financial Statements	  	 	23	  
	     SECTION 4.04
	 	Compliance Certificate	  	 	23	  
	     SECTION 4.05
	 	Corporate Existence	  	 	23	  
	     SECTION 4.06
	 	Waiver of Stay, Extension or Usury Laws	  	 	24	  
	     SECTION 4.07
	 	Additional Amounts	  	 	24	  
			
	     ARTICLE V
	 	SUCCESSORS	  	 	24	  
			
	     SECTION 5.01
	 	Limitations on Mergers and Consolidations	  	 	24	  
	     SECTION 5.02
	 	Successor Person Substituted	  	 	25	  
		
	 ARTICLE VI     DEFAULTS AND REMEDIES
	  	 	25	  
			
	     SECTION 6.01
	 	Events of Default	  	 	25	  
	     SECTION 6.02
	 	Acceleration	  	 	27	  
	     SECTION 6.03
	 	Other Remedies	  	 	27	  
	     SECTION 6.04
	 	Waiver of Defaults	  	 	28	  
	     SECTION 6.05
	 	Control by Majority	  	 	28	  
	     SECTION 6.06
	 	Limitations on Suits	  	 	28	  
	     SECTION 6.07
	 	Rights of Holders to Receive Payment	  	 	29	  
	     SECTION 6.08
	 	Collection Suit by Trustee	  	 	29	  
	     SECTION 6.09
	 	Trustee May File Proofs of Claim	  	 	29	  
	     SECTION 6.10
	 	Priorities	  	 	30	  
	     SECTION 6.11
	 	Undertaking for Costs	  	 	30	  
			
	     ARTICLE VII
	 	TRUSTEE	  	 	31	  
			
	     SECTION 7.01
	 	Duties of Trustee	  	 	31	  
	     SECTION 7.02
	 	Rights of Trustee	  	 	32	  
	     SECTION 7.03
	 	May Hold Securities	  	 	32	  
	     SECTION 7.04
	 	Trustee’s Disclaimer	  	 	32	  
	     SECTION 7.05
	 	Notice of Defaults	  	 	33	  
	     SECTION 7.06
	 	Reports by Trustee to Holders	  	 	33	  
	     SECTION 7.07
	 	Compensation and Indemnity	  	 	33	  
	     SECTION 7.08
	 	Replacement of Trustee	  	 	34	  
	     SECTION 7.09
	 	Successor Trustee by Merger, etc.	  	 	35	  
	     SECTION 7.10
	 	Eligibility; Disqualification	  	 	36	  
	     SECTION 7.11
	 	Preferential Collection of Claims Against the Company	  	 	36	  
		
	 ARTICLE VIII     DISCHARGE OF INDENTURE
	  	 	36	  
			
	     SECTION 8.01
	 	Termination of the Company’s Obligations	  	 	36	  
	     SECTION 8.02
	 	Application of Trust Money	  	 	40	  
	     SECTION 8.03
	 	Repayment to Company	  	 	40	  
	     SECTION 8.04
	 	Reinstatement	  	 	40	  
			
	 ARTICLE IX
	 	SUPPLEMENTAL INDENTURES AND AMENDMENTS	  	 	41	  
			
	     SECTION 9.01
	 	Without Consent of Holders	  	 	41	  
	     SECTION 9.02
	 	With Consent of Holders	  	 	42	  
	     SECTION 9.03
	 	Compliance with Trust Indenture Act	  	 	44	  

  
 ii 

							
	     SECTION 9.04
	 	Revocation and Effect of Consents	  	 	44	  
	     SECTION 9.05
	 	Notation on or Exchange of Securities	  	 	45	  
	     SECTION 9.06
	 	Trustee to Sign Amendments, etc.	  	 	45	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	45	  
			
	     SECTION 10.01
	 	Trust Indenture Act Controls	  	 	45	  
	     SECTION 10.02
	 	Notices	  	 	45	  
	     SECTION 10.03
	 	Communication by Holders with Other Holders	  	 	47	  
	     SECTION 10.04
	 	Certificate and Opinion as to Conditions Precedent	  	 	47	  
	     SECTION 10.05
	 	Statements Required in Certificate or Opinion.	  	 	47	  
	     SECTION 10.06
	 	Rules by Trustee and Agents	  	 	47	  
	     SECTION 10.07
	 	Legal Holidays	  	 	48	  
	     SECTION 10.08
	 	No Recourse Against Others	  	 	48	  
	     SECTION 10.09
	 	Governing Law	  	 	48	  
	     SECTION 10.10
	 	No Adverse Interpretation of Other Agreements	  	 	48	  
	     SECTION 10.11
	 	Successors	  	 	48	  
	     SECTION 10.12
	 	Severability.	  	 	48	  
	     SECTION 10.13
	 	Counterpart Originals	  	 	48	  
	     SECTION 10.14
	 	Table of Contents, Headings, etc.	  	 	48	  

  
 iii 

 INDENTURE dated as of            
,             between Cleco Corporation, a Louisiana corporation (the “Company”), and [            ], as trustee (the
“Trustee”). 
 Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the
Holders of the Company’s unsecured debentures, notes or other evidences of indebtedness (the “Securities”) to be issued from time to time in one or more series as provided in this Indenture: 

ARTICLE I 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 SECTION 1.01 Definitions. 

“Additional Amounts” means any additional amounts required by the express terms of a Security or by or pursuant to a Board
Resolution, under circumstances specified therein or pursuant thereto, to be paid by the Company with respect to certain taxes, assessments or other governmental charges imposed on certain Holders and that are owing to such Holders. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by, or under direct or
indirect common control with, such specified Person. For purposes of this definition, “control” of a Person shall mean the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of
voting securities, by contract or otherwise, and the terms “controlling” and “controlled” shall have meanings correlative to the foregoing. 

“Agent” means any Registrar or Paying Agent. 

“Bankruptcy Law” means Title 11 of the United States Code or any similar federal, state or foreign law for the relief of debtors.

 “Board of Directors” means the Board of Directors of the Company or any committee thereof duly authorized, with respect to any
particular matter, to act by or on behalf of the Board of Directors of the Company. 
 “Board Resolution” means a copy of a
resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“Business Day” means any day that is not a Legal Holiday. 

“Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall
have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person; provided, however, that for purposes of any provision contained herein which is required by the
TIA, “Company” shall also mean each other obligor (if any) on the Securities of a series. 

  
 1 

 “Company Order” and “Company Request” mean, respectively, a written order or
request signed in the name of the Company by two Officers of the Company, and delivered to the Trustee. 
 “Corporate Trust Office of
the Trustee” means the office of the Trustee located at [            ], Attention: [            ], and as may be located at
such other address as the Trustee may give notice to the Company. 
 “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 the Securities of any
series issuable or issued in whole or in part in global form, the Person specified pursuant to Section 2.01 hereof as the initial Depositary with respect to the Securities of such series, until a successor shall have been appointed and become
such pursuant to the applicable provision of this Indenture, and thereafter “Depositary” shall mean or include such successor. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time shall
be legal tender for the payment of public and private debt. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended, and any successor statute. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the
opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity
as may be approved by a significant segment of the accounting profession of the United States, as in effect from time to time. 

“Global Security” means a Security that is issued in global form in the name of the Depositary with respect thereto or its nominee.

 “Government Obligations” means, with respect to a series of Securities, direct obligations of the government that issues the
currency in which the Securities of the series are payable for the payment of which the full faith and credit of such government is pledged, or obligations of a Person controlled or supervised by and acting as an agency or instrumentality of such
government, the payment of which is unconditionally guaranteed as a full faith and credit obligation by such government. 

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

“Indenture” means this Indenture as amended or supplemented from time to time pursuant to the provisions hereof, and includes the
terms of a particular series of Securities established as contemplated by Section 2.01. 
 “interest” means, with respect to
an Original Issue Discount Security that by its terms bears interest only after Maturity, interest payable after Maturity. 

  
 2 

 “Interest Payment Date,” when used with respect to any Security, shall have the meaning
assigned to such term in the Security as contemplated by Section 2.01. 
 “Issue Date” means, with respect to Securities of a
series, the date on which the Securities of such series are originally issued under this Indenture. 
 “Legal Holiday” means a
Saturday, a Sunday or a day on which banking institutions in any of The City of New York, New York; New Orleans, Louisiana or a Place of Payment are authorized or obligated by law, regulation or executive order to remain closed. 

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

“Officer” means the Chairman of the Board, the President, any Vice Chairman of the Board, any Vice President, the Chief Financial
Officer, the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the Secretary or any Assistant Secretary of a Person. 

“Officers’ Certificate” means a certificate signed by two Officers of a Person. 

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. Such counsel may be an employee of
or counsel to the Company or the Trustee. 
 “Original Issue Discount Security” means any Security that provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02. 

“Person” means any individual, corporation, partnership, limited liability company, joint venture, incorporated or unincorporated
association, joint stock company, trust, unincorporated organization or government or other agency, instrumentality or political subdivision thereof or other entity of any kind. 

“Place of Payment” means, with respect to the Securities of any series, the place or places where the principal of, premium (if any)
and interest on and any Additional Amounts with respect to the Securities of that series are payable as specified in accordance with Section 2.01 subject to the provisions of Section 4.02. 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on the Security. 

“Redemption Date” means, with respect to any Security to be redeemed, the date fixed for such redemption by or pursuant to this
Indenture. 
 “Redemption Price” means, with respect to any Security to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 

  
 3 

 “Responsible Officer” means any officer within the corporate trust department of the
Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this
Indenture. 
 “Rule 144A Securities” means Securities of a series designated pursuant to Section 2.01 as entitled to the
benefits of Section 4.03(b). 
 “SEC” means the Securities and Exchange Commission. 

“Securities” has the meaning stated in the preamble of this Indenture and more particularly means any Securities authenticated and
delivered under this Indenture. 
 “Security Custodian” means, with respect to Securities of a series issued in global form, the
Trustee for Securities of such series, as custodian with respect to the Securities of such series, or any successor entity thereto. 

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

“Subsidiary” means a Person at least a majority of the outstanding voting stock of which is owned, directly or indirectly, by the
Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For the purposes of this definition, “voting stock” means stock having voting power for the election of directors, whether at all times or
only so long as no senior class of stock has such voting power by reason of any contingency. 
 “TIA” means the Trust Indenture
Act of 1939, as amended, as in effect on the date hereof. 
 “Trustee” means the Person named as such above until a successor
replaces it in accordance with the applicable provisions of this Indenture, and thereafter “Trustee” means each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with
respect to the Securities of any series means the Trustee with respect to Securities of that series. 
 “United States” means the
United States of America (including the States and the District of Columbia) and its territories and possessions, which include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 

“U.S. Government Obligations” means Government Obligations with respect to Securities payable in Dollars. 

  
 4 

 SECTION 1.02 Other Definitions. 
  

					
	 Term
	  	Defined
in Section	 
	 “Agent Members”
	  	 	2.17	  
	 “Bankruptcy Custodian”
	  	 	6.01	  
	 “Conversion Event”
	  	 	6.01	  
	 “covenant defeasance”
	  	 	8.01	  
	 “Event of Default”
	  	 	6.01	  
	 “Exchange Rate”
	  	 	2.11	  
	 “Judgment Currency”
	  	 	6.10	  
	 “legal defeasance”
	  	 	8.01	  
	 “mandatory sinking fund payment”
	  	 	3.09	  
	 “optional sinking fund payment”
	  	 	3.09	  
	 “Paying Agent”
	  	 	2.05	  
	 “Registrar”
	  	 	2.05	  
	 “Required Currency”
	  	 	6.10	  
	 “Successor”
	  	 	5.01	  

 SECTION 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture (and
if the Indenture is not qualified under the TIA at that time, as if it were so qualified unless otherwise provided). The following TIA terms used in this Indenture have the following meanings: 

“Commission” means the SEC. 

“indenture securities” means the Securities. 

“indenture security holder” means a Holder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company or any other obligor on the Securities. 

All terms used in this Indenture that are defined by the TIA, defined by a TIA reference to another statute or defined by an SEC rule under
the TIA have the meanings so assigned to them. 

  
 5 

 SECTION 1.04 Rules of Construction. 

Unless the context otherwise requires: 
  

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

  

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

  

	 	(3)	“or” is not exclusive; 

  

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

  

	 	(5)	provisions apply to successive events and transactions; and 

  

	 	(6)	all references in this instrument to Articles and Sections are references to the corresponding Articles and Sections in and of this instrument. 

ARTICLE II 
 THE SECURITIES 

SECTION 2.01 Amount Unlimited; Issuable in Series. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. 

The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution, and set forth, or
determined in the manner provided, in an Officers’ Certificate of the Company or in a Company Order, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

(1) the title of the Securities of the series (which shall distinguish the Securities of the series from the Securities of all
other series); 
 (2) if there is to be a limit, the limit upon the aggregate principal amount of the Securities of the
series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.08,
2.09, 2.12, 2.17, 3.07 or 9.05 and except for any Securities which, pursuant to Section 2.04 or 2.17, are deemed never to have been authenticated and delivered hereunder); provided, however, that unless otherwise provided in the terms of
the series, the authorized aggregate principal amount of such series may be increased before or after the issuance of any Securities of the series by a Board Resolution (or action pursuant to a Board Resolution) to such effect; 

  
 6 

 (3) whether any Securities of the series are to be issuable initially in
temporary global form and whether any Securities of the series are to be issuable in permanent global form, as Global Securities or otherwise, and, if so, whether beneficial owners of interests in any such Global Security may exchange such interests
for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 2.17, and the initial Depositary and
Security Custodian, if any, for any Global Security or Securities of such series; 
 (4) the manner in which any interest
payable on a temporary Global Security on any Interest Payment Date will be paid if other than in the manner provided in Section 2.14; 

(5) the right, if any, to extend or defer the interest payment periods and the duration of any such extension; 

(6) the date or dates on which the principal of and premium (if any) on the Securities of the series is payable or the method
of determination thereof; 
 (7) the rate or rates, or the method of determination thereof, at which the Securities of the
series shall bear interest, if any, whether and under what circumstances Additional Amounts with respect to such Securities shall be payable, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest
shall be payable and the record date for the interest payable on any Securities on any Interest Payment Date, or if other than provided herein, the Person to whom any interest on Securities of the series shall be payable; 

(8) the place or places where, subject to the provisions of Section 4.02, the principal of, premium (if any) and interest
on and any Additional Amounts with respect to the Securities of the series shall be payable; 
 (9) the period or periods
within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is
to have that option, and the manner in which the Company must exercise any such option, if different from those set forth herein; 

(10) the obligation, if any, of the Company to redeem, purchase or repay Securities of the series pursuant to any sinking fund
or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices (whether denominated in cash, securities or otherwise) at which and the terms and conditions upon which Securities of the series
shall be redeemed, purchased or repaid in whole or in part pursuant to such obligation; 
 (11) if other than denominations
of $1,000 and any integral multiple thereof, the denomination in which any Securities of that series shall be issuable; 

  
 7 

 (12) if other than Dollars, the currency or currencies (including composite
currencies) or the form, including equity securities, other debt securities (including Securities), warrants or any other securities or property of the Company or any other Person, in which payment of the principal of, premium (if any) and interest
on and any Additional Amounts with respect to the Securities of the series shall be payable; 
 (13) if the principal of,
premium (if any) or interest on or any Additional Amounts with respect to the Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies (including composite currencies) other than
that in which the Securities are stated to be payable, the currency or currencies (including composite currencies) in which payment of the principal of, premium (if any) and interest on and any Additional Amounts with respect to Securities of such
series as to which such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is to be made; 

(14) if the amount of payments of principal of, premium (if any) and interest on and any Additional Amounts with respect to the
Securities of the series may be determined with reference to any commodities, currencies or indices, values, rates or prices or any other index or formula, the manner in which such amounts shall be determined; 

(15) if other than the entire principal amount thereof, the portion of the principal amount of Securities of the series that
shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 
 (16) any
additional means of satisfaction and discharge of this Indenture and any additional conditions or limitations to discharge with respect to Securities of the series pursuant to Article VIII or any modifications of or deletions from such conditions or
limitations; 
 (17) any deletions or modifications of or additions to the Events of Default set forth in Section 6.01
or covenants of the Company set forth in Article IV pertaining to the Securities of the series; 
 (18) any restrictions or
other provisions with respect to the transfer or exchange of Securities of the series, which may amend, supplement, modify or supersede those contained in this Article II; 

(19) if the Securities of the series are to be convertible into or exchangeable for capital stock, other debt securities
(including Securities), warrants, other equity securities or any other securities or property of the Company or any other Person, at the option of the Company or the Holder or upon the occurrence of any condition or event, the terms and conditions
for such conversion or exchange; 
 (20) if the Securities of the series are to be entitled to the benefit of
Section 4.03(b) (and accordingly constitute Rule 144A Securities), that fact; and 

  
 8 

 (21) any other terms of the series (which terms shall not be prohibited by the
provisions of this Indenture). 
 All Securities of any one series shall be substantially identical except as to denomination and except as
may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 2.03) set forth, or determined in the manner provided, in the Officers’ Certificate or Company Order referred to above or in any
such indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a Board Resolution, a
copy of an appropriate record of such action, together with such Board Resolution, shall be set forth in an Officers’ Certificate or certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to
the delivery of the Officers’ Certificate or Company Order setting forth the terms of the series. 
 SECTION 2.02 Denominations. 

The Securities of each series shall be issuable in such denominations as shall be specified as contemplated by Section 2.01. In the
absence of any such provisions with respect to the Securities of any series, the Securities of such series denominated in Dollars shall be issuable in denominations of $1,000 and any integral multiples thereof. 

SECTION 2.03 Forms Generally. 
 The
Securities of each series shall be in fully registered form and in substantially such form or forms (including temporary or permanent global form) established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto. The
Securities may have notations, legends or endorsements required by law, securities exchange rule, the Company’s certificate of incorporation, bylaws or other similar governing documents, agreements to which the Company is subject, if any, or
usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company). A copy of the Board Resolution establishing the form or forms of Securities of any series shall be delivered to the Trustee at or prior to the
delivery of the Company Order contemplated by Section 2.04 for the authentication and delivery of such Securities. 
 The definitive
Securities of each series shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the Officers executing such Securities, as evidenced by their execution thereof. 

  
 9 

 The Trustee’s certificate of authentication shall be in substantially the following form: 

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

 

			
	[                                    
    ], as Trustee
		
	By:	 	 
		 	Authorized Signatory”.

 SECTION 2.04 Execution, Authentication, Delivery and Dating. 

Two Officers of the Company shall sign the Securities on behalf of the Company by manual or facsimile signature. If an Officer of the Company
whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall be valid nevertheless. 

A Security shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated by the
manual signature of an authorized signatory of the Trustee, which signature shall be conclusive evidence that the Security has been authenticated under this Indenture. Notwithstanding the foregoing, if any Security has been authenticated and
delivered hereunder but never issued and sold by the Company, and the Company delivers such Security to the Trustee for cancellation as provided in Section 2.13, together with a written statement (which need not comply with Section 10.05
and need not be accompanied by an Opinion of Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder
and shall never be entitled to the benefits of this Indenture. 
 At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, and the Trustee shall authenticate and deliver such Securities for original issue upon a Company Order for the authentication and
delivery of such Securities or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by Company Order. Such order shall specify the amount of the Securities to be authenticated, the date on which the original
issue of Securities is to be authenticated, the name or names of the initial Holder or Holders and any other terms of the Securities of such series not otherwise determined. If provided for in such procedures, such Company Order may authorize
(1) authentication and delivery of Securities of such series for original issue from time to time, with certain terms (including, without limitation, the Maturity dates or dates, original issue date or dates and interest rate or rates) that
differ from Security to Security and (2) may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent, which instructions shall be promptly confirmed in writing. 

If the form or terms of the Securities of the series have been established in or pursuant to one or more Board Resolutions as permitted by
Section 2.01, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive (in addition to the Company Order referred to above and
the other documents required by Section 10.04), and (subject to Section 7.01) shall be fully protected in relying upon: 

  
 10 

 (a) an Officers’ Certificate setting forth the Board Resolution and, if
applicable, an appropriate record of any action taken pursuant thereto, as contemplated by the last paragraph of Section 2.01; and 

(b) an Opinion of Counsel to the effect that: 

(i) the form of such Securities has been established in conformity with the provisions of this Indenture; 

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

(iii) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject
to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other similar laws in effect from time to time affecting the rights of creditors generally, and the application of general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 If all the Securities of any series are not to be issued at one time,
it shall not be necessary to deliver an Officers’ Certificate and Opinion of Counsel at the time of issuance of each such Security, but such Officers’ Certificate and Opinion of Counsel shall be delivered at or before the time of issuance
of the first Security of the series to be issued. 
 The Trustee shall not be required to authenticate such Securities if the issuance of
such Securities pursuant to this Indenture would affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner not reasonably acceptable to the Trustee. 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. Unless limited by the terms of such
appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as
an Agent to deal with the Company or an Affiliate of the Company. 
 Each Security shall be dated the date of its authentication. 

SECTION 2.05 Registrar and Paying Agent. 

The Company shall maintain an office or agency for each series of Securities where Securities of such series may be presented for registration
of transfer or exchange (“Registrar”) and an office or agency where Securities of such series may be presented for 

  
 11 

 
payment (“Paying Agent”). The Registrar shall keep a register of the Securities of such series and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional
paying agent. 
 The Company shall enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this
Indenture. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address of any Agent not a party to this Indenture. The Company may change any Paying Agent or
Registrar without notice to any Holder. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any Subsidiary may act as Paying Agent or Registrar. 

The Company initially appoints the Trustee as Registrar and Paying Agent. 

SECTION 2.06 Paying Agent to Hold Money in Trust. 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the benefit
of Holders or the Trustee all money held by the Paying Agent for the payment of principal of, premium, if any, or interest on or any Additional Amounts with respect to Securities and will notify the Trustee of any default by the Company in making
any such payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. The Company at any time may require a Paying Agent to pay all money held by
it to the Trustee and to account for any funds disbursed. Upon payment over to the Trustee and upon accounting for any funds disbursed, the Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the money. If
the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Each Paying Agent shall otherwise comply with TIA § 317(b). 

SECTION 2.07 Holder Lists. 
 The
Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar with respect
to a series of Securities, the Company shall furnish to the Trustee at least five Business Days before each Interest Payment Date with respect to such series of Securities, and at such other times as the Trustee may request in writing, a list in
such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders of such series, and the Company shall otherwise comply with TIA § 312(a). 

  
 12 

 SECTION 2.08 Transfer and Exchange. 

Except as set forth in Section 2.17 or as may be provided pursuant to Section 2.01: 

When Securities of any series are presented to the Registrar with the request to register the transfer of such Securities or to exchange such
Securities for an equal principal amount of Securities of the same series of like tenor and of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its requirements and the requirements of
this Indenture for such transactions are met; provided, however, that the Securities presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by a written instruction of transfer in form
reasonably satisfactory to the Registrar duly executed by the Holder thereof or by his attorney, duly authorized in writing, on which instruction the Registrar can rely. 

To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Securities at the
Registrar’s written request and submission of the Securities or Global Securities. No service charge shall be made to a Holder for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than such transfer tax or similar governmental charge payable upon exchanges pursuant to Section 2.12, 3.07 or
9.05). The Trustee shall authenticate Securities in accordance with the provisions of Section 2.04. Notwithstanding any other provisions of this Indenture to the contrary, the Company shall not be required to register the transfer or exchange
of (a) any Security selected for redemption in whole or in part pursuant to Article III, except the unredeemed portion of any Security being redeemed in part, or (b) any Security during the period beginning 15 Business Days prior to the
mailing of notice of any offer to repurchase Securities of the series required pursuant to the terms thereof or of redemption of Securities of a series to be redeemed and ending at the close of business on the day of mailing. 

SECTION 2.09 Replacement Securities. 
 If
any mutilated Security is surrendered to the Trustee, or if the Holder of a Security claims that the Security has been destroyed, lost or stolen and the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft
of such Security, the Company shall issue and the Trustee shall authenticate a replacement Security of the same series if the Trustee’s requirements are met. If any such mutilated, destroyed, lost or stolen Security has become or is about to
become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. If required by the Trustee or the Company, such Holder must furnish an indemnity bond that is sufficient in the judgment of the Trustee
and the Company to protect the Company, the Trustee, any Agent or any authenticating agent from any loss that any of them may suffer if a Security is replaced. The Company and the Trustee may charge a Holder for their expenses in replacing a
Security. 
 Every replacement Security is an additional obligation of the Company. 

SECTION 2.10 Outstanding Securities. 
 The
Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Security effected by the Trustee hereunder
and those described in this Section 2.10 as not outstanding. 

  
 13 

 If a Security is replaced pursuant to Section 2.09, it ceases to be outstanding unless the
Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser. 
 If the principal amount of any
Security is considered paid under Section 4.01, it ceases to be outstanding and interest on it ceases to accrue. 
 A Security does not
cease to be outstanding because the Company or an Affiliate of the Company holds the Security. 
 SECTION 2.11 Original Issue Discount, Foreign-Currency
Denominated and Treasury Securities. 
 In determining whether the Holders of the required principal amount of Securities have concurred
in any direction, amendment, supplement, waiver or consent, (a) the principal amount of an Original Issue Discount Security shall be the principal amount thereof that would be due and payable as of the date of such determination upon
acceleration of the Maturity thereof pursuant to Section 6.02, (b) the principal amount of a Security denominated in a foreign currency shall be the Dollar equivalent, as determined by the Company by reference to the noon buying rate in
The City of New York for cable transfers for such currency, as such rate is certified for customs purposes by the Federal Reserve Bank of New York (the “Exchange Rate”) on the date of original issuance of such Security, of the principal
amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent, as determined by the Company by reference to the Exchange Rate on the date of original issuance of such Security, of the amount determined as provided in
(a) above), of such Security and (c) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded, except that, for the purpose of determining
whether the Trustee shall be protected in relying upon any such direction, amendment, supplement, waiver or consent, only Securities that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. 

SECTION 2.12 Temporary Securities. 
 Until
definitive Securities of any series are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities, but may have variations
that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged, the temporary
Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Securities. 

  
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 SECTION 2.13 Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee
any Securities surrendered to them for registration of transfer, exchange, payment or redemption or for credit against any sinking fund payment. The Trustee shall cancel all Securities surrendered for registration of transfer, exchange, payment,
redemption, replacement or cancellation or for credit against any sinking fund. Unless the Company shall direct in writing that canceled Securities be returned to it, after written notice to the Company all canceled Securities held by the Trustee
shall be disposed of in accordance with the usual disposal procedures of the Trustee, and the Trustee shall maintain a record of their disposal. The Company may not issue new Securities to replace Securities that have been paid or that have been
delivered to the Trustee for cancellation. 
 SECTION 2.14 Payments; Defaulted Interest. 

Unless otherwise provided as contemplated by Section 2.01, interest (except defaulted interest) on any Security that is payable, and is
punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Persons who are registered Holders of that Security at the close of business on the record date next preceding such Interest Payment Date, even if such
Securities are canceled after such record date and on or before such Interest Payment Date. The Holder must surrender a Security to a Paying Agent to collect principal payments. Unless otherwise provided with respect to the Securities of any series,
the Company will pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the Securities in Dollars. Such amounts shall be payable at the offices of the Trustee or any Paying Agent, provided that at
the option of the Company, the Company may pay such amounts (1) by wire transfer with respect to Global Securities or (2) by check payable in such money mailed to a Holder’s registered address with respect to any Securities. 

If the Company defaults in a payment of interest on the Securities of any series, the Company shall pay the defaulted interest in any lawful
manner plus, to the extent lawful, interest on the defaulted interest, in each case at the rate provided in the Securities of such series and in Section 4.01. The Company may pay the defaulted interest to the Persons who are Holders on a
subsequent special record date. At least 15 days before any special record date selected by the Company, the Company (or the Trustee, in the name of and at the expense of the Company upon 20 days’ prior written notice from the Company setting
forth such special record date and the interest amount to be paid) shall mail to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

SECTION 2.15 Persons Deemed Owners. 
 The
Company, the Trustee, any Agent and any authenticating agent may treat the Person in whose name any Security is registered as the owner of such Security for the purpose of receiving payments of principal of, premium (if any) or interest on or any
Additional Amounts with respect to such Security and for all other purposes. None of the Company, the Trustee, any Agent or any authenticating agent shall be affected by any notice to the contrary. 

SECTION 2.16 Computation of Interest. 

Except as otherwise specified as contemplated by Section 2.01 for Securities of any series, interest on the Securities of each series
shall be computed on the basis of a 360-day year comprising twelve 30-day months. 

  
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 SECTION 2.17 Global Securities; Book-Entry Provisions. 

If Securities of a series are issuable in global form as a Global Security, as contemplated by Section 2.01, then, notwithstanding clause
(10) of Section 2.01 and the provisions of Section 2.02, any such Global Security shall represent such of the outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate
amount of outstanding Securities from time to time endorsed thereon and that the aggregate amount of outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, transfers or
redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of outstanding Securities represented thereby shall be made by the Trustee (i) in such manner and upon instructions given by
such Person or Persons as shall be specified in such Security or in a Company Order to be delivered to the Trustee pursuant to Section 2.04 or (ii) otherwise in accordance with written instructions or such other written form of
instructions as is customary for the Depositary for such Security, from such Depositary or its nominee on behalf of any Person having a beneficial interest in such Global Security. Subject to the provisions of Section 2.04 and, if applicable,
Section 2.12, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified in such Security or in the applicable Company Order. With respect to the
Securities of any series that are represented by a Global Security, the Company authorizes the execution and delivery by the Trustee of a letter of representations or other similar agreement or instrument in the form customarily provided for by the
Depositary appointed with respect to such Global Security. Any Global Security may be deposited with the Depositary or its nominee, or may remain in the custody of the Trustee or the Security Custodian therefor pursuant to a FAST Balance Certificate
Agreement or similar agreement between the Trustee and the Depositary. If a Company Order has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Security in global form
shall be in writing but need not comply with Section 10.05 and need not be accompanied by an Opinion of Counsel. 
 Members of, or
participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary, or the Trustee or the Security Custodian as its custodian, or under
such Global Security, and the Depositary may be treated by the Company, the Trustee or the Security Custodian and any agent of the Company, the Trustee or the Security Custodian as the absolute owner of such Global Security for all purposes
whatsoever. Notwithstanding the foregoing, (i) the registered holder of a Global Security of a series may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to
take any action that a Holder of Securities of such series is entitled to take under this Indenture or the Securities of such series and (ii) nothing herein shall prevent the Company, the Trustee or the Security Custodian, or any agent of the
Company, the Trustee or the Security Custodian, from giving effect to any written certification, proxy or other authorization furnished by the Depositary or shall impair, as between the Depositary and its Agent Members, the operation of customary
practices governing the exercise of the rights of a beneficial owner of any Security. 

  
 16 

 Notwithstanding Section 2.08, and except as otherwise provided pursuant to
Section 2.01: Transfers of a Global Security shall be limited to transfers of such Global Security in whole, but not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Security
may be transferred in accordance with the rules and procedures of the Depositary. Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in a Global Security if, and only if, either (1) the
Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Global Security and a successor Depositary is not appointed by the Company within 90 days of such notice, (2) an Event of Default has occurred with
respect to such series and is continuing and the Registrar has received a request from the Depositary to issue Securities in lieu of all or a portion of the Global Security (in which case the Company shall deliver Securities within 30 days of such
request) or (3) the Company determines not to have the Securities represented by a Global Security. 
 In connection with any transfer
of a portion of the beneficial interests in a Global Security to beneficial owners pursuant to this Section 2.17, the Registrar shall reflect on its books and records the date and a decrease in the principal amount of the Global Security in an
amount equal to the principal amount of the beneficial interests in the Global Security to be transferred, and the Company shall execute, and the Trustee upon receipt of a Company Order for the authentication and delivery of Securities shall
authenticate and deliver, one or more Securities of the same series of like tenor and amount. 
 In connection with the transfer of all the
beneficial interests in a Global Security to beneficial owners pursuant to this Section 2.17, the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Company shall execute, and the Trustee shall
authenticate and deliver, to each beneficial owner identified by the Depositary in exchange for its beneficial interests in the Global Security, an equal aggregate principal amount of Securities of authorized denominations. 

Neither the Company nor the Trustee will have any responsibility or liability for any aspect of the records relating to, or payments made on
account of, Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to such Securities. Neither the Company nor the Trustee shall be liable for any delay by the related Global Security Holder
or the Depositary in identifying the beneficial owners, and each such Person may conclusively rely on, and shall be protected in relying on, instructions from such Global Security Holder or the Depositary for all purposes (including with respect to
the registration and delivery, and the respective principal amounts, of the Securities to be issued). 
 The provisions of the last sentence
of the third paragraph of Section 2.04 shall apply to any Global Security if such Global Security was never issued and sold by the Company and the Company delivers to the Trustee the Global Security together with written instructions (which
need not comply with Section 10.05 and need not be accompanied by an Opinion of Counsel) with regard to the cancellation or reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by
the last sentence of the third paragraph of Section 2.04. 
 Notwithstanding the provisions of Sections 2.03 and 2.14, unless otherwise
specified as contemplated by Section 2.01, payment of principal of, premium (if any) and interest on and any Additional Amounts with respect to any Global Security shall be made to the Person or Persons specified therein. 

  
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 ARTICLE III 

REDEMPTION 
 SECTION 3.01 Applicability of
Article. 
 Securities of any series that are redeemable before their Stated Maturity shall be redeemable in accordance with their terms
and (except as otherwise specified as contemplated by Section 2.01 for Securities of any series) in accordance with this Article III. 
 SECTION 3.02
Notice to the Trustee. 
 If the Company elects to redeem Securities of any series pursuant to this Indenture, it shall notify the
Trustee of the Redemption Date and the principal amount of Securities of such series to be redeemed. The Company shall so notify the Trustee at least 45 days before the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee)
by delivering to the Trustee an Officers’ Certificate stating that such redemption will comply with the provisions of this Indenture and of the Securities of such series. Any such notice may be canceled at any time prior to the mailing of such
notice of such redemption to any Holder and shall thereupon be void and of no effect. A redemption or notice thereof may be subject to one or more conditions. 

SECTION 3.03 Selection of Securities To Be Redeemed. 

If less than all the Securities of any series are to be redeemed (unless all of the Securities of such series of a specified tenor are to be
redeemed), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the outstanding Securities of such series (and tenor) not previously called for redemption, either at
random, by lot or by such other method as the Trustee shall deem fair and appropriate and that may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral
multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series or of the principal amount of Global Securities of such series. 

The Trustee shall promptly notify the Company and the Registrar in writing of the Securities selected for redemption and, in the case of any
Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For purposes of this Indenture, unless the
context otherwise requires, all provisions relating to redemption of Securities shall relate, in the case of any of the Securities redeemed or to be redeemed only in part, to the portion of the principal amount thereof which has been or is to be
redeemed. 

  
 18 

 SECTION 3.04 Notice of Redemption. 

Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption
Date, to each Holder of Securities to be redeemed, at the address of such Holder appearing in the register of Securities maintained by the Registrar. 

All notices of redemption shall identify the Securities to be redeemed and shall state: 

(1) the Redemption Date; 

(2) the Redemption Price; 

(3) that, unless the Company defaults in making the redemption payment, interest on Securities called for redemption ceases to
accrue on and after the Redemption Date, and the only remaining right of the Holders of such Securities is to receive payment of the Redemption Price upon surrender to the Paying Agent of the Securities redeemed; 

(4) if any Security is to be redeemed in part, the portion of the principal amount thereof to be redeemed and that on and after
the Redemption Date, upon surrender for cancellation of such Security to the Paying Agent, a new Security or Securities in the aggregate principal amount equal to the unredeemed portion thereof will be issued without charge to the Holder; 

(5) that Securities called for redemption must be surrendered to the Paying Agent to collect the Redemption Price and the name
and address of the Paying Agent; 
 (6) that the redemption is for a sinking or analogous fund, if such is the case; 

(7) the CUSIP number, if any, relating to such Securities; and 

(8) if the redemption or notice thereof is subject to one or more conditions, a statement to such effect and the condition or
conditions precedent. 
 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or,
at the Company’s written request, by the Trustee in the name and at the expense of the Company. 
 SECTION 3.05 Effect of Notice of Redemption.

 Once notice of redemption is mailed, unless the redemption or notice thereof is subject to one or more conditions as specified in the
notice, Securities called for redemption become due and payable on the Redemption Date and at the Redemption Price. Upon surrender to the Paying Agent, such Securities called for redemption shall be paid at the Redemption Price, but interest
installments whose maturity is on or prior to such Redemption Date will be payable on the relevant Interest Payment Dates to the Holders of record at the close of business on the relevant record dates specified pursuant to Section 2.01. 

  
 19 

 SECTION 3.06 Deposit of Redemption Price. 

On or prior to 11:00 a.m., New York City time, on any Redemption Date, the Company shall deposit with the Trustee or the Paying Agent (or, if
the Company is acting as the Paying Agent, segregate and hold in trust as provided in Section 2.06) an amount of money in same day funds sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment
Date) accrued interest on and any Additional Amounts with respect to, the Securities or portions thereof which are to be redeemed on that date, other than Securities or portions thereof called for redemption on that date which have been delivered by
the Company to the Trustee for cancellation. 
 If the Company complies with the preceding paragraph, then, unless the Company defaults in
the payment of such Redemption Price, interest on the Securities to be redeemed will cease to accrue on and after the applicable Redemption Date, whether or not such Securities are presented for payment, and the Holders of such Securities shall have
no further rights with respect to such Securities except for the right to receive the Redemption Price upon surrender of such Securities. If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the
principal, premium, if any, any Additional Amounts, and, to the extent lawful, accrued interest thereon shall, until paid, bear interest from the Redemption Date at the rate specified pursuant to Section 2.01 or provided in the Securities or,
in the case of Original Issue Discount Securities, such Securities’ yield to maturity. 
 SECTION 3.07 Securities Redeemed or Purchased in Part.

 Upon surrender to the Paying Agent of a Security to be redeemed in part, the Company shall execute and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge a new Security or Securities, of the same series and of any authorized denomination as requested by such Holder in aggregate principal amount equal to, and in exchange for, the unredeemed
portion of the principal of the Security so surrendered that is not redeemed. 
 SECTION 3.08 Purchase of Securities. 

Unless otherwise specified as contemplated by Section 2.01, the Company and any Affiliate of the Company may, subject to applicable law,
at any time purchase or otherwise acquire Securities in the open market or by private agreement. Any such acquisition shall not operate as or be deemed for any purpose to be a redemption of the indebtedness represented by such Securities. Any
Securities purchased or acquired by the Company may be delivered to the Trustee and, upon such delivery, the indebtedness represented thereby shall be deemed to be satisfied. Section 2.13 shall apply to all Securities so delivered. 

SECTION 3.09 Mandatory and Optional Sinking Funds. 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory
sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an “optional sinking fund payment.” Unless otherwise provided by the terms of
Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 3.10. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms
of Securities of such series and by this Article III. 

  
 20 

 SECTION 3.10 Satisfaction of Sinking Fund Payments with Securities. 

The Company may deliver outstanding Securities of a series (other than any previously called for redemption) and may apply as a credit
Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each
case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such series of Securities; provided that such Securities have not been previously
so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly. 
 SECTION 3.11 Redemption of Securities for Sinking Fund. 

Not less than 45 days prior (unless a shorter period shall be satisfactory to the Trustee) to each sinking fund payment date for any series of
Securities, the Company will deliver to the Trustee an Officers’ Certificate of the Company specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which
is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivery of or by crediting Securities of that series pursuant to Section 3.10 and will also deliver or cause to be delivered to the Trustee any
Securities to be so delivered. Failure of the Company to timely deliver or cause to be delivered such Officers’ Certificate and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute the election of
the Company (i) that the mandatory sinking fund payment for such series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Securities of such series in respect thereof and
(ii) that the Company will make no optional sinking fund payment with respect to such series as provided in this Section. 
 If the
sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $100,000 (or the Dollar
equivalent thereof based on the applicable Exchange Rate on the date of original issue of the applicable Securities) or a lesser sum if the Company shall so request with respect to the Securities of any particular series, such cash shall be applied
on the next succeeding sinking fund payment date to the redemption of Securities of such series at the sinking fund redemption price together with accrued interest to the date fixed for redemption. If such amount shall be $100,000 (or the Dollar
equivalent thereof as aforesaid) or less and the Company makes no such request then it shall be carried over until a sum in excess of $100,000 (or the Dollar equivalent thereof as aforesaid) is available. Not less than 30 days before each such
sinking fund payment date, the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.03 and cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 3.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.05, 3.06 and 3.07. 

  
 21 

 ARTICLE IV 

COVENANTS 
 SECTION 4.01 Payment of
Securities. 
 The Company shall pay the principal of, premium (if any) and interest on and any Additional Amounts with respect to the
Securities of each series on the dates and in the manner provided in the Securities of such series and in this Indenture. Principal, premium, interest and any Additional Amounts shall be considered paid on the date due if the Paying Agent (other
than the Company or a Subsidiary) holds on that date money deposited by the Company designated for and sufficient to pay all principal, premium, interest and any Additional Amounts then due. 

The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium
(if any), at a rate equal to the then applicable interest rate on the Securities to the extent lawful; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and
any Additional Amount (without regard to any applicable grace period) at the same rate to the extent lawful. 
 SECTION 4.02 Maintenance of Office or
Agency. 
 The Company will maintain in each Place of Payment for any series of Securities an office or agency (which may be an office of
the Trustee, the Registrar or the Paying Agent) where Securities of that series may be presented for registration of transfer or exchange, where Securities of that series may be presented for payment and where notices and demands to or upon the
Company in respect of the Securities of that series and this Indenture may be served. Unless otherwise designated by the Company by written notice to the Trustee, such office or agency shall be the office of the Trustee at
[            ]. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail
to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an
office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or
agency. 

  
 22 

 SECTION 4.03 SEC Reports; Financial Statements. 

(a) If the Company is subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with the Trustee,
within 15 days after it files the same with the SEC, copies of the annual reports and the information, documents and other reports (or copies of such portions of any of the foregoing as the SEC may by rules and regulations prescribe) that the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. If this Indenture is qualified under the TIA, but not otherwise, the Company shall also comply with the provisions of TIA § 314(a). Delivery of
such reports, information and documents to the Trustee shall be for informational purposes only, and the Trustee’s receipt thereof shall not constitute constructive notice of any information contained therein or determinable from information
contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates or certificates delivered pursuant to Section 4.04). 

(b) If the Company is not subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Company shall furnish to all
Holders of Rule 144A Securities and prospective purchasers of Rule 144A Securities designated by the Holders of Rule 144A Securities, promptly upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) promulgated under
the Securities Act of 1933, as amended. 
 SECTION 4.04 Compliance Certificate. 

(a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, a statement signed by an
Officer of the Company, which need not constitute an Officers’ Certificate, complying with TIA § 314(a)(4) and stating that in the course of performance by the signing Officer of his duties as such Officer of the Company he would normally
obtain knowledge of the keeping, observing, performing and fulfilling by the Company of its obligations under this Indenture, and further stating that to the best of his knowledge the Company has kept, observed, performed and fulfilled each and
every covenant contained in this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions hereof (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events
of Default of which such Officer may have knowledge and what action the Company is taking or proposes to take with respect thereto). 
 (b)
The Company shall, so long as Securities of any series are outstanding, deliver to the Trustee, forthwith upon any Officer of the Company becoming aware of any Default or Event of Default under this Indenture, an Officers’ Certificate
specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 
 SECTION 4.05 Corporate
Existence. 
 Subject to Article V, the Company shall do or cause to be done all things necessary to preserve and keep in full force and
effect its existence. 

  
 23 

 SECTION 4.06 Waiver of Stay, Extension or Usury Laws. 

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

SECTION 4.07 Additional Amounts. 
 If the
Securities of a series expressly provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series Additional Amounts as expressly provided therein. Whenever in this Indenture there is mentioned, in any
context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or the net proceeds received from the sale or exchange of any Security of any series, such mention shall be deemed to include
mention of the payment of Additional Amounts provided for in this Section 4.07 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 4.07 and
express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 

ARTICLE V 
 SUCCESSORS 

SECTION 5.01 Limitations on Mergers and Consolidations. 

The Company shall not, in any transaction or series of transactions, consolidate with or merge into any Person, or sell, lease, convey,
transfer or otherwise dispose of all or substantially all of its assets to any Person, unless: 
 (1) either (a) the
Company shall be the continuing Person or (b) the Person (if other than the Company) formed by such consolidation or into which the Company is merged, or to which such sale, lease, conveyance, transfer or other disposition shall be made
(collectively, the “Successor”), shall be a corporation, limited liability company, partnership, trust or other entity, organized and existing under the laws of the United States of America, any state thereof or the District of Columbia
and expressly assumes by supplemental indenture the due and punctual payment of the principal of, premium (if any) and interest on and any Additional Amounts with respect to all the Securities and the performance of the Company’s covenants and
obligations under this Indenture and the Securities; 
 (2) immediately after giving effect to such transaction or series of
transactions, no Default or Event of Default shall have occurred and be continuing or would result therefrom; and 

  
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 (3) the Company delivers to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that the transaction and such supplemental indenture comply with this Indenture. 
 SECTION 5.02 Successor Person
Substituted. 
 Upon any consolidation or merger of the Company or any sale, lease, conveyance, transfer or other disposition of all or
substantially all of the assets of the Company in accordance with Section 5.01, the Successor formed by such consolidation or into or with which the Company is merged or to which such sale, lease, conveyance, transfer or other disposition is
made shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture and the Securities with the same effect as if such Successor had been named as the Company herein and the predecessor Company,
in the case of a sale, conveyance, transfer or other disposition, shall be released from all obligations under this Indenture and the Securities. 

ARTICLE VI 
 DEFAULTS AND REMEDIES

 SECTION 6.01 Events of Default. 

Unless either inapplicable to a particular series or specifically deleted or modified in or pursuant to the supplemental indenture or Board
Resolution establishing such series of Securities or in the form of Security for such series, an “Event of Default,” wherever used herein with respect to Securities of any series, occurs if: 

(1) the Company defaults in the payment of interest on or any Additional Amounts with respect to any Security of that series
when the same becomes due and payable and such default continues for a period of 30 days; 
 (2) the Company defaults in the
payment of (A) the principal of any Security of that series at its Maturity or (B) premium (if any) on any Security of that series when the same becomes due and payable and such default continues for a period of three Business Days; 

(3) the Company defaults in the deposit of any sinking fund payment, when and as due by the terms of a Security of that
series, and such default continues for a period of 30 days; 
 (4) the Company fails to comply with any of its other
covenants or agreements in, or provisions of, the Securities of such series or this Indenture (other than an agreement, covenant or provision that has expressly been included in this Indenture solely for the benefit of one or more series of
Securities other than that series) which shall not have been remedied within the specified period after written notice, as specified in the last paragraph of this Section 6.01; 

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

  
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 (A) commences a voluntary case, 

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

(C) consents to the commencement of any bankruptcy or insolvency case or proceeding against it; 

(D) files or consents to the filing of a petition or answer or consent seeking reorganization or relief; 

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

(F) makes or takes a corporate action in furtherance of making a general assignment for the benefit of its creditors; 

(6) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that remains unstayed and in effect
for 90 days and that: 
 (A) is for relief against the Company as debtor in an involuntary case, 

(B) adjudges the Company bankrupt or insolvent; 

(C) approves as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of
the Company; 
 (D) appoints a Bankruptcy Custodian of the Company or a Bankruptcy Custodian for all or substantially all of
the property of the Company, or 
 (E) orders the liquidation of the Company; or 

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

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

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

 When a Default is cured, it ceases. 

Notwithstanding the foregoing provisions of this Section 6.01, if the principal of, premium (if any) or interest on or Additional Amounts
with respect to any Security is payable in a currency or currencies (including a composite currency) other than Dollars and such currency or currencies are not available to the Company for making payment thereof due to the imposition of exchange
controls or other circumstances beyond the control of the Company (a “Conversion Event”), the Company will be entitled to satisfy its obligations to Holders of the Securities by making such payment in Dollars in an amount equal to the
Dollar equivalent of the amount payable in such other currency, as determined by the Company by reference to the Exchange Rate on the date of such payment, or, if such rate is not then available, on the basis of the most recently available Exchange
Rate. Notwithstanding the foregoing provisions of this Section 6.01, any payment made under such circumstances in Dollars where the required payment is in a currency other than Dollars will not constitute an Event of Default under this
Indenture. 

  
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 Promptly after the occurrence of a Conversion Event, the Company shall give written notice
thereof to the Trustee; and the Trustee, promptly after receipt of such notice, shall give notice thereof in the manner provided in Section 10.02 to the Holders. Promptly after the making of any payment in Dollars as a result of a Conversion
Event, the Company shall give notice in the manner provided in Section 10.02 to the Holders, setting forth the applicable Exchange Rate and describing the calculation of such payments. 

A Default under clause (4) or (7) of this Section 6.01 is not an Event of Default until the Trustee notifies the Company, or
the Holders of at least 25% in principal amount of the then outstanding Securities of the series affected by such Default notify the Company and the Trustee, of the Default, and the Company fails to cure the Default within 90 days after receipt of
the notice. The notice must specify the Default, demand that it be remedied and state that the notice is a “Notice of Default.” 
 SECTION 6.02
Acceleration. 
 If an Event of Default with respect to any Securities of any series at the time outstanding (other than an Event of
Default specified in clause (5) or (6) of Section 6.01) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the then outstanding Securities of the series affected by
such Event of Default by notice to the Company and the Trustee, may declare the principal of (or, if any such Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series)
and all accrued and unpaid interest on all then outstanding Securities of such series to be due and payable. Upon any such declaration, the amounts due and payable on the Securities shall be due and payable immediately. If an Event of Default
specified in clause (5) or (6) of Section 6.01 hereof occurs, such amounts shall ipso facto become and be immediately due and payable without any declaration, notice or other act on the part of the Trustee or any Holder. The
Holders of a majority in principal amount of the then outstanding Securities of the series affected by such Event of Default, by written notice to the Trustee, may rescind an acceleration and its consequences (other than nonpayment of principal of
or premium or interest on or any Additional Amounts with respect to the Securities) if the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to Securities of that series have been cured or
waived, except nonpayment of principal, premium, interest or any Additional Amounts that has become due solely because of the acceleration. No such rescission shall affect any subsequent default or impair any right consequent thereon. 

SECTION 6.03 Other Remedies. 
 If an Event
of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of, or premium, if any, or interest on the Securities or to enforce the performance of any provision of the Securities or this
Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law. 

  
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 SECTION 6.04 Waiver of Defaults. 

Subject to Sections 6.07 and 9.02, the Holders of a majority in principal amount of the then outstanding Securities of any series by notice to
the Trustee may waive an existing or past Default or Event of Default with respect to such series and its consequences (including waivers obtained in connection with a tender offer or exchange offer for Securities of such series or a solicitation of
consents in respect of Securities of such series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series), except (1) a continuing Default or Event of Default in the
payment of the principal of, or premium, if any, or interest on or any Additional Amounts with respect to any Security or (2) a continued Default in respect of a provision that under Section 9.02 cannot be amended or supplemented without
the consent of each Holder affected. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or impair any right consequent thereon. 
 SECTION 6.05 Control by Majority. 

With respect to Securities of any series, the Holders of a majority in principal amount of the then outstanding Securities of such series (as
to such series) may direct in writing the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that
conflicts with applicable law or this Indenture, that the Trustee determines may be unduly prejudicial to the rights of other Holders, or that may involve the Trustee in personal liability; provided, however, that the Trustee may take any
other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion from Holders directing the
Trustee against all losses and expenses caused by taking or not taking such action. 
 SECTION 6.06 Limitations on Suits. 

Subject to Section 6.07 hereof, a Holder of a Security of any series may pursue a remedy with respect to this Indenture or the Securities
of such series only if: 
 (1) the Holder gives to the Trustee written notice of a continuing Event of Default with respect
to such series; 
 (2) the Holders of at least 25% in principal amount of the then outstanding Securities of such series make
a written request to the Trustee to pursue the remedy; 
 (3) such Holder or Holders offer to the Trustee indemnity
satisfactory to the Trustee against any loss, liability or expense to be incurred in compliance with such request; 
 (4) the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and 

  
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 (5) during such 60-day period the Holders
of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent with the request. 
 A
Holder may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. 
 SECTION 6.07
Rights of Holders to Receive Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Security
to receive payment of principal of and premium, if any, and interest on and any Additional Amounts with respect to the Security, on or after the respective due dates expressed in the Security, or to bring suit for the enforcement of any such payment
on or after such respective dates, is absolute and unconditional and shall not be impaired or affected without the consent of the Holder. 
 SECTION 6.08
Collection Suit by Trustee. 
 If an Event of Default specified in clause (1), (2) or (3) of Section 6.01 hereof occurs
and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the amount of principal, premium (if any), interest and any Additional Amounts remaining unpaid on the
Securities of the series affected by the Event of Default, and interest on overdue principal and premium, if any, and, to the extent lawful, interest on overdue interest, and such further amount as shall be sufficient to cover the costs and expenses
of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 SECTION 6.09
Trustee May File Proofs of Claim. 
 The Trustee is authorized to file such proofs of claim and other papers or documents and to take
such actions, including participating as a member, voting or otherwise, of any committee of creditors, as may be necessary or advisable to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company or its creditors or properties and shall be entitled and empowered to collect, receive and distribute any money or other
property payable or deliverable on any such claims and any Bankruptcy Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making
of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.07. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 out of the estate in any such
proceeding, shall be denied for any reason, payment of the same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties which the Holders of the Securities may be entitled
to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing 

  
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herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

SECTION 6.10 Priorities. 
 If the Trustee
collects any money pursuant to this Article VI, it shall pay out the money in the following order: 
 First: to the Trustee for amounts due
under Section 7.07; 
 Second: to Holders for amounts due and unpaid on the Securities in respect of which or for the
benefit of which such money has been collected, for principal, premium (if any), interest and any Additional Amounts ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal,
premium (if any), interest and any Additional Amounts, respectively; and 
 Third: to the Company. 

The Trustee, upon prior written notice to the Company, may fix record dates and payment dates for any payment to Holders pursuant to this
Article VI. 
 To the fullest extent allowed under applicable law, if for the purpose of obtaining a judgment against the Company in any
court it is necessary to convert the sum due in respect of the principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities of any series (the “Required Currency”) into a currency in which a judgment
will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment
Currency on the Business Day in The City of New York next preceding that on which final judgment is given. Neither the Company nor the Trustee shall be liable for any shortfall nor shall it benefit from any windfall in payments to Holders of
Securities under this Section 6.10 caused by a change in exchange rates between the time the amount of a judgment against it is calculated as above and the time the Trustee converts the Judgment Currency into the Required Currency to make
payments under this Section 6.10 to Holders of Securities, but payment of such judgment shall discharge all amounts owed by the Company on the claim or claims underlying such judgment. 

SECTION 6.11 Undertaking for Costs. 
 In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a trustee, a court in its discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or
defenses made by the party litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by a Holder or Holders of more than 10% in principal amount of the then outstanding
Securities of any series. 

  
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 ARTICLE VII 

TRUSTEE 
 SECTION 7.01 Duties of Trustee.

 (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in such exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default with respect to the Securities of any series: 

(1) the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied
covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However,
the Trustee shall examine such certificates and opinions to determine whether, on their face, they appear to conform to the requirements of this Indenture. 

(c) The Trustee may not be relieved from liabilities for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of Section 7.01(b); 

(2) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee shall not be liable with respect
to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 
 (d)
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to the provisions of this Section 7.01. 

(e) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The Trustee may refuse to
perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability or expense. 

(f) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. All money received by the Trustee shall, until applied as herein provided, be held in trust for the payment of the principal of, premium
(if any) and interest on and Additional Amounts with respect to the Securities. 

  
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 SECTION 7.02 Rights of Trustee. 

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper Person.
The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may
require instruction, an Officers’ Certificate or an Opinion of Counsel or both to be provided. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such instruction, Officers’ Certificate or
Opinion of Counsel. The Trustee may consult at the Company’s expense with counsel of its selection and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through agents and shall not be
responsible for the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee shall not be liable for any action it
takes or omits to take in good faith which it believes to be authorized or within its rights or powers conferred upon it by this Indenture. 

(e) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient if
signed by an Officer of the Company. 
 SECTION 7.03 May Hold Securities. 

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

SECTION 7.04 Trustee’s Disclaimer. 

The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the
Company’s use of the proceeds from the Securities or any money paid to the Company or upon the Company’s direction under any provision hereof, it shall not be responsible for the use or application of any money received by any Paying Agent
other than the Trustee and it shall not be responsible for any statement or recital herein or any statement in the Securities other than its certificate of authentication. 

  
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 SECTION 7.05 Notice of Defaults. 

If a Default or Event of Default with respect to the Securities of any series occurs and is continuing and it is known to the Trustee, the
Trustee shall mail to Holders of Securities of such series a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium (if any) and interest on
and Additional Amounts or any sinking fund installment with respect to the Securities of such series, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice
is in the interests of Holders of Securities of such series. 
 SECTION 7.06 Reports by Trustee to Holders. 

Within 60 days after each [            ] of each year after the execution of this
Indenture, the Trustee shall mail to Holders of a series and the Company a brief report dated as of such reporting date that complies with TIA § 313(a); provided, however, that if no event described in TIA § 313(a) has occurred
within the twelve months preceding the reporting date with respect to a series, no report need be transmitted to Holders of such series. The Trustee also shall comply with TIA § 313(b). The Trustee shall also transmit by mail all reports if and
as required by TIA §§ 313 (c) and 313(d). 
 A copy of each report at the time of its mailing to Holders of a series of
Securities shall be filed by the Company with the SEC and each securities exchange, if any, on which the Securities of such series are listed. The Company shall notify the Trustee if and when any series of Securities is listed on any securities
exchange. 
 SECTION 7.07 Compensation and Indemnity. 

The Company agrees to pay to the Trustee for its acceptance of this Indenture and services hereunder such compensation as the Company and the
Trustee shall from time to time agree in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company agrees to reimburse the Trustee upon request for all reasonable
disbursements, advances and expenses incurred by it. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

The Company hereby indemnifies the Trustee and any predecessor Trustee against any and all loss, liability, damage, claim or expense,
including taxes (other than taxes based upon, measured by or determined by the income of the Trustee), incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, except as set forth in
the next following paragraph. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and
the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent. 

The Company shall not be obligated to reimburse any expense or indemnify against any loss or liability incurred by the Trustee through the
Trustee’s negligence or bad faith. 

  
 33 

 To secure the payment obligations of the Company in this Section 7.07, the Trustee shall
have a lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust to pay principal of, premium (if any) and interest on and any Additional Amounts with respect to Securities of any series. Such
lien and the Company’s obligations under this Section 7.07 shall survive the satisfaction and discharge of this Indenture. 
 When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(5) or (6) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any
Bankruptcy Law. 
 SECTION 7.08 Replacement of Trustee. 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s
acceptance of appointment as provided in this Section 7.08. 
 The Trustee may resign and be discharged at any time with respect to the
Securities of one or more series by so notifying the Company. The Holders of a majority in principal amount of the then outstanding Securities of any series may remove the Trustee with respect to the Securities of such series by so notifying the
Trustee and the Company. The Company may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 7.10; 

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

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

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, with respect to the Securities of one or
more series, the Company shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or
more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series). Within one year after the successor Trustee with respect to the Securities of any series takes office, the
Holders of a majority in principal amount of the Securities of such series then outstanding may appoint a successor Trustee to replace the successor Trustee appointed by the Company. 

If a successor Trustee with respect to the Securities of any series does not take office within 30 days after the retiring or removed Trustee
resigns or is removed, the retiring or removed Trustee, the Company or the Holders of at least 10% in principal amount of the then outstanding Securities of such series may petition any court of competent jurisdiction for the appointment of a
successor Trustee with respect to the Securities of such series. 

  
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 If the Trustee with respect to the Securities of a series fails to comply with Section 7.10,
any Holder of Securities of such series may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee with respect to the Securities of such series. 

In case of the appointment of a successor Trustee with respect to all Securities, each such successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in
Section 7.07. 
 In case of the appointment of a successor Trustee with respect to the Securities of one or more (but not all) series,
the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more (but not all) series shall execute and deliver an indenture supplemental hereto in which each successor Trustee shall accept such appointment
and that (1) shall confer to each successor Trustee all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the
retiring Trustee is not retiring with respect to all Securities, shall confirm that all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring
shall continue to be vested in the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee.
Nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee. Upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such
successor Trustee shall have all the rights, powers and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. On request of the Company or any successor
Trustee, such retiring Trustee shall transfer to such successor Trustee all property held by such retiring Trustee as Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates. 

Notwithstanding replacement of the Trustee or Trustees pursuant to this Section 7.08, the obligations of the Company under
Section 7.07 shall continue for the benefit of the retiring Trustee or Trustees. 
 SECTION 7.09 Successor Trustee by Merger, etc. 

Subject to Section 7.10, if the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate
trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee; provided, however, that in the case of a transfer of all or substantially all of its corporate trust business to another
corporation, the transferee corporation expressly assumes all of the Trustee’s liabilities hereunder. 

  
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 In case any Securities shall have been authenticated, but not delivered, by the Trustee then in
office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated,
any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in
the Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 SECTION 7.10 Eligibility; Disqualification. 

There shall at all times be a Trustee hereunder which shall be a corporation or banking or trust company or association organized and doing
business under the laws of the United States, any State thereof or the District of Columbia and authorized under such laws to exercise corporate trust power, shall be subject to supervision or examination by Federal or State (or the District of
Columbia) authority and shall have, or be a subsidiary of a bank or bank holding company having, a combined capital and surplus of at least $50 million as set forth in its most recent published annual report of condition. 

The Indenture shall always have a Trustee who satisfies the requirements of TIA §§ 310(a)(1), 310(a)(2) and 310(a)(5). The Trustee
is subject to and shall comply with the provisions of TIA § 310(b) during the period of time required by this Indenture. Nothing in this Indenture shall prevent the Trustee from filing with the SEC the application referred to in the penultimate
paragraph of TIA § 310(b). 
 SECTION 7.11 Preferential Collection of Claims Against the Company. 

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

 DISCHARGE OF INDENTURE 
 SECTION 8.01
Termination of the Company’s Obligations. 
 (a) This Indenture shall cease to be of further effect with respect to the
Securities of a series (except that the Company’s obligations under Section 7.07, the Trustee’s and Paying Agent’s obligations under Section 8.03 and the rights, powers, protections and privileges accorded the Trustee under
Article VII shall survive), and the Trustee, on demand of the Company, shall execute proper instruments acknowledging the satisfaction and discharge of this Indenture with respect to the Securities of such series, when: 

(1) either: 

  
 36 

 (A) all outstanding Securities of such series theretofore authenticated and
issued (other than destroyed, lost or stolen Securities that have been replaced or paid) have been delivered to the Trustee for cancellation; or 

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

 

	 	(i)	have become due and payable, or 

  

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

  

	 	(iii)	are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 

and, in the case of clause (i), (ii) or (iii) above, the Company has irrevocably deposited or caused to be deposited with the
Trustee as funds (immediately available to the Holders in the case of clause (i)) in trust for such purpose (x) cash in an amount, or (y) Government Obligations, maturing as to principal and interest at such times and in such amounts as
will ensure the availability of cash in an amount or (z) a combination thereof, which will be sufficient, in the opinion (in the case of clauses (y) and (z)) of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge the entire indebtedness on the Securities of such series for principal and interest to the date of such deposit (in the case of Securities which have become due and
payable) or for principal, premium, if any, and interest to the Stated Maturity or Redemption Date, as the case may be; or 

(C) the Company has properly fulfilled such other means of satisfaction and discharge as is specified, as contemplated by
Section 2.01, to be applicable to the Securities of such series; 
 (2) the Company has paid or caused to be paid all
other sums payable by it hereunder with respect to the Securities of such series; and 
 (3) the Company has delivered to
the Trustee an Officers’ Certificate stating that all conditions precedent to satisfaction and discharge of this Indenture with respect to the Securities of such series have been complied with, together with an Opinion of Counsel to the same
effect. 
 (b) Unless this Section 8.01(b) is specified as not being applicable to Securities of a series as contemplated by
Section 2.01, the Company may, at its option, terminate certain of its obligations under this Indenture (“covenant defeasance”) with respect to the Securities of a series if: 

  
 37 

 (1) the Company has irrevocably deposited or caused to be irrevocably deposited
with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for and dedicated solely to the benefit of the Holders of Securities of such series, (i) money in the currency in which
payment of the Securities of such series is to be made in an amount, or (ii) Government Obligations with respect to such series, maturing as to principal and interest at such times and in such amounts as will ensure the availability of money in
the currency in which payment of the Securities of such series is to be made in an amount or (iii) a combination thereof, that is sufficient, in the opinion (in the case of clauses (ii) and (iii)) of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay the principal of and premium (if any) and interest on all Securities of such series on each date that such principal, premium (if any) or
interest is due and payable and (at the Stated Maturity thereof or upon redemption as provided in Section 8.01(e)) to pay all other sums payable by it hereunder; provided that the Trustee shall have been irrevocably instructed to apply
such money and/or the proceeds of such Government Obligations to the payment of said principal, premium (if any) and interest with respect to the Securities of such series as the same shall become due; 

(2) the Company has delivered to the Trustee an Officers’ Certificate stating that all conditions precedent to
satisfaction and discharge of this Indenture with respect to the Securities of such series have been complied with, and an Opinion of Counsel to the same effect; 

(3) no Default or Event of Default with respect to the Securities of such series shall have occurred and be continuing on the
date of such deposit; 
 (4) the Company shall have delivered to the Trustee an Opinion of Counsel from a nationally
recognized counsel acceptable to the Trustee or a tax ruling to the effect that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of the Company’s exercise of its option under this
Section 8.01(b) and will be subject to U.S. Federal income tax on the same amount and in the same manner and at the same times as would have been the case if such option had not been exercised; 

(5) the Company has complied with any additional conditions specified pursuant to Section 2.01 to be applicable to the
discharge of Securities of such series pursuant to this Section 8.01; and 
 (6) such deposit and discharge shall not
cause the Trustee to have a conflicting interest as defined in TIA § 310(b). 
 In such event, this Indenture shall cease to be of
further effect (except as set forth in this paragraph), and the Trustee, on demand of the Company, shall execute proper instruments acknowledging satisfaction and discharge under this Indenture. However, the Company’s obligations in Sections
2.05, 2.06, 2.07, 2.08, 2.09, 4.01, 4.02, 7.07, 7.08 and 8.04, the Trustee’s and Paying Agent’s obligations in Section 8.03 and the rights, powers, protections and privileges accorded the Trustee under Article VII shall survive until
all Securities of such series are no longer outstanding. Thereafter, only the Company’s obligations in Section 7.07 and the Trustee’s and Paying Agent’s obligations in Section 8.03 shall survive with respect to Securities of
such series. 

  
 38 

 After such irrevocable deposit made pursuant to this Section 8.01(b) and satisfaction of the
other conditions set forth herein, the Trustee upon request shall acknowledge in writing the discharge of the Company’s obligations under this Indenture with respect to the Securities of such series except for those surviving obligations
specified above. 
 In order to have money available on a payment date to pay principal of or premium (if any) or interest on the
Securities, the Government Obligations shall be payable as to principal or interest on or before such payment date in such amounts as will provide the necessary money. Government Obligations shall not be callable at the issuer’s option. 

(c) If the Company has previously complied or is concurrently complying with Section 8.01(b) (other than any additional conditions
specified pursuant to Section 2.01 that are expressly applicable only to covenant defeasance) with respect to Securities of a series, then, unless this Section 8.01(c) is specified as not being applicable to Securities of such series as
contemplated by Section 2.01, the Company may elect that its obligations to make payments with respect to Securities of such series be discharged (“legal defeasance”), if: 

(1) no Default or Event of Default under clauses (5) and (6) of Section 6.01 hereof shall have occurred at any
time during the period ending on the 91st day after the date of deposit contemplated by Section 8.01(b) (it being understood that this condition shall not be deemed satisfied until the expiration of such period); 

(2) unless otherwise specified with respect to Securities of such series as contemplated by Section 2.01, the Company has
delivered to the Trustee an Opinion of Counsel from a nationally recognized counsel acceptable to the Trustee to the effect referred to in Section 8.01(b) (4) with respect to such legal defeasance, which opinion is based on (i) a
private ruling of the Internal Revenue Service addressed to the Company, (ii) a published ruling of the Internal Revenue Service pertaining to a comparable form of transaction or (iii) a change in the applicable federal income tax law
(including regulations) after the date of this Indenture; 
 (3) the Company has complied with any other conditions
specified pursuant to Section 2.01 to be applicable to the legal defeasance of Securities of such series pursuant to this Section 8.01(c); and 

(4) the Company has delivered to the Trustee a Company Request requesting such legal defeasance of the Securities of such
series and an Officers’ Certificate stating that all conditions precedent with respect to such legal defeasance of the Securities of such series have been complied with, together with an Opinion of Counsel to the same effect. 

In such event, the Company will be discharged from its obligations under this Indenture and the Securities of such series to pay principal of,
premium (if any) and interest on and any Additional Amounts with respect to Securities of such series, the Company’s obligations under Sections 4.01 and 4.02 shall terminate with respect to such Securities, and the entire indebtedness of the
Company evidenced by such Securities shall be deemed paid and discharged. 

  
 39 

 (d) If and to the extent additional or alternative means of satisfaction, discharge or defeasance
of Securities of a series are specified to be applicable to such series as contemplated by Section 2.01, the Company may terminate any or all of its obligations under this Indenture with respect to Securities of a series and any or all of its
obligations under the Securities of such series if it fulfills such other means of satisfaction and discharge as may be so specified, as contemplated by Section 2.01, to be applicable to the Securities of such series. 

(e) If Securities of any series subject to subsections (a), (b), (c) or (d) of this Section 8.01 are to be redeemed prior to
their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional sinking fund provisions, the terms of the applicable trust arrangement shall provide for such redemption, and the Company
shall make such arrangements as are reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company. 

SECTION 8.02 Application of Trust Money. 

The Trustee or a trustee satisfactory to the Trustee and the Company shall hold in trust money or Government Obligations deposited with it
pursuant to Section 8.01 hereof. It shall apply the deposited money and the money from Government Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of, premium (if any) and interest on and
any Additional Amounts with respect to the Securities of the series with respect to which the deposit was made. 
 SECTION 8.03 Repayment to
Company. 
 The Trustee and the Paying Agent shall promptly pay to the Company any excess money or Government Obligations (or proceeds
therefrom) held by them at any time upon the written request of the Company. 
 Subject to the requirements of any applicable abandoned
property laws, the Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal, premium (if any), interest or any Additional Amounts that remain unclaimed for two years after the
date upon which such payment shall have become due. After payment to the Company, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned property law designates another Person, and all
liability of the Trustee and the Paying Agent with respect to such money shall cease. 
 SECTION 8.04 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money or Government Obligations deposited with respect to Securities of any series in
accordance with Section 8.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the obligations of the Company under
this Indenture with respect to the Securities of such series and 

  
 40 

 
under the Securities of such series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee or the Paying Agent is permitted
to apply all such money or Government Obligations in accordance with Section 8.01; provided, however, that if the Company has made any payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any
Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Obligations held by the Trustee or the Paying Agent.

 ARTICLE IX 
 SUPPLEMENTAL
INDENTURES AND AMENDMENTS 
 SECTION 9.01 Without Consent of Holders. 

The Company and the Trustee may amend or supplement this Indenture or the Securities or waive any provision hereof or thereof without the
consent of any Holder: 
 (1) to cure any ambiguity, omission, defect or inconsistency; 

(2) to comply with Section 5.01; 

(3) to provide for uncertificated Securities in addition to or in place of certificated Securities, or to provide for the
issuance of bearer Securities (with or without coupons); 
 (4) to provide any security for, or to add any guarantees of or
additional obligors on, any series of Securities; 
 (5) to comply with any requirement in order to effect or maintain the
qualification of this Indenture under the TIA; 
 (6) to add to the covenants of the Company for the benefit of the Holders
of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series), or to surrender any right or
power herein conferred upon the Company; 
 (7) to add any additional Events of Default with respect to all or any series of
the Securities (and, if any Event of Default is applicable to less than all series of Securities, specifying the series to which such Event of Default is applicable); 

(8) to change or eliminate any of the provisions of this Indenture or any supplemental indenture or in any Securities;
provided that any such change or elimination shall become effective only when there is no outstanding Security of any series created prior to the execution of such amendment or supplemental indenture that is adversely affected in any material
respect by such change in or elimination of such provision; provided, further, that any change made solely to conform the provisions of this Indenture to the description of any Security in a prospectus supplement pursuant to which such
Securities were offered and sold will not be deemed to adversely affect any Security of that series in any material respect; 

  
 41 

 (9) to establish the form or terms of Securities of any series as permitted by
Section 2.01; 
 (10) to supplement any of the provisions of this Indenture to such extent as shall be necessary to
permit or facilitate the defeasance and discharge of any series of Securities pursuant to Section 8.01; provided, however, that any such action shall not adversely affect the interest of the Holders of Securities of such series or any
other series of Securities in any material respect; or 
 (11) to evidence and provide for the acceptance of appointment
hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by
more than one Trustee, pursuant to the requirements of Section 7.08. 
 Upon the request of the Company, accompanied by a Board
Resolution, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Company in the execution of any supplemental indenture authorized or permitted by the terms
of this Indenture and make any further appropriate agreements and stipulations that may be therein contained. 
 SECTION 9.02 With Consent of
Holders. 
 Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture with
the written consent (including consents obtained in connection with a tender offer or exchange offer for Securities of any one or more series or all series or a solicitation of consents in respect of Securities of any one or more series or all
series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of each such series (but the terms of such offer or solicitation may vary from series to series)) of the Holders of at least a
majority in principal amount of the then outstanding Securities of each series affected by such amendment or supplement (voting as separate classes). 

Upon the request of the Company, accompanied by a Board Resolution, and upon the filing with the Trustee of evidence of the consent of the
Holders as aforesaid, and upon receipt by the Trustee of the documents described in Section 9.06, the Trustee shall, subject to Section 9.06, join with the Company in the execution of such amendment or supplemental indenture. 

It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed
amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 

  
 42 

 The Holders of a majority in principal amount of the then outstanding Securities of one or more
series may waive compliance in a particular instance by the Company with any provision of this Indenture with respect to Securities of such series (including waivers obtained in connection with a tender offer or exchange offer for Securities of such
series or a solicitation of consents in respect of Securities of such series, provided that in each case such offer or solicitation is made to all Holders of then outstanding Securities of such series (but the terms of such offer or
solicitation may vary from series to series)). 
 However, without the consent of each Holder affected, an amendment, supplement or waiver
under this Section 9.02 may not: 
 (1) reduce the amount of Securities whose Holders must consent to an amendment,
supplement or waiver; 
 (2) reduce the rate of or change the time for payment of interest, including default interest, on
any Security; 
 (3) reduce the principal of, any premium on or any mandatory sinking fund payment with respect to, or
change the Stated Maturity of, any Security or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.02; 

(4) reduce the premium, if any, payable upon the redemption of any Security or change the time at which any Security may or
shall be redeemed; 
 (5) change any obligation of the Company to pay Additional Amounts with respect to any Security; 

(6) change the coin or currency or currencies (including composite currencies) in which any Security or any premium, interest
or Additional Amounts with respect thereto are payable; 
 (7) impair the right to institute suit for the enforcement of any
payment of principal of, premium (if any) or interest on or any Additional Amounts with respect to any Security pursuant to Sections 6.07 and 6.08, except as limited by Section 6.06; 

(8) make any change in the percentage of principal amount of Securities necessary to waive compliance with certain provisions
of this Indenture pursuant to Section 6.04 or 6.07 or make any change in this sentence of Section 9.02; or 
 (9)
waive a continuing Default or Event of Default in the payment of principal of, premium (if any) or interest on or Additional Amounts with respect to the Securities. 

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

  
 43 

 The right of any Holder to participate in any consent required or sought pursuant to any
provision of this Indenture (and the obligation of the Company to obtain any such consent otherwise required from such Holder) may be subject to the requirement that such Holder shall have been the Holder of record of any Securities with respect to
which such consent is required or sought as of a date identified by the Company in a notice furnished to Holders in accordance with the terms of this Indenture. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holders of each
Security affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver. 
 SECTION 9.03 Compliance with Trust Indenture Act. 

Every amendment or supplement to this Indenture or the Securities shall comply in form and substance with the TIA as then in effect. 

SECTION 9.04 Revocation and Effect of Consents. 

Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security. However, any such Holder or subsequent Holder may revoke the
consent as to his or her Security or portion of a Security if the Trustee receives written notice of revocation before a date and time therefor identified by the Company in a notice furnished to such Holder in accordance with the terms of this
Indenture or, if no such date and time shall be identified, the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

The Company may, but shall not be obligated to, fix a record date (which need not comply with TIA § 316(c)) for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver or to take any other action under this Indenture. If a record date is fixed, then notwithstanding the provisions of the immediately preceding paragraph, those Persons
who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to consent to such amendment, supplement or waiver or to revoke any consent previously given, whether or not such Persons continue to
be Holders after such record date. No consent shall be valid or effective for more than 90 days after such record date unless consents from Holders of the principal amount of Securities required hereunder for such amendment or waiver to be effective
shall have also been given and not revoked within such 90-day period. 
 After an amendment,
supplement or waiver becomes effective, it shall bind every Holder, unless it is of the type described in any of clauses (1) through (9) of Section 9.02 hereof. In such case, the amendment, supplement or waiver shall bind each Holder
who has consented to it and every subsequent Holder that evidences the same debt as the consenting Holder’s Security. 

  
 44 

 SECTION 9.05 Notation on or Exchange of Securities. 

If an amendment or supplement changes the terms of an outstanding Security, the Company may require the Holder of the Security to deliver it to
the Trustee. The Trustee may place an appropriate notation on the Security at the request of the Company regarding the changed terms and return it to the Holder. Alternatively, if the Company so determines, the Company in exchange for the Security
shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment or supplement. 

Securities of any series authenticated and delivered after the execution of any amendment or supplement may, and shall if required by the
Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such amendment or supplement. 
 SECTION 9.06 Trustee to Sign
Amendments, etc. 
 The Trustee shall sign any amendment or supplement authorized pursuant to this Article if the amendment or supplement
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may, but need not, sign it. In signing or refusing to sign such amendment or supplement, the Trustee shall be entitled to receive, and,
shall be fully protected in relying upon in good faith, an Officers’ Certificate and an Opinion of Counsel provided at the expense of the Company as conclusive evidence that such amendment or supplement is authorized or permitted by this
Indenture, that it is not inconsistent herewith, and that it will be valid and binding upon the Company in accordance with its terms. 

ARTICLE X 
 MISCELLANEOUS 

SECTION 10.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by operation of TIA § 318(c), the imposed duties
shall control. 
 SECTION 10.02 Notices. 

Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by
first-class mail (registered or certified, return receipt requested), telex, facsimile or overnight air courier guaranteeing next day delivery, to the other’s address: 

  
 45 

 If to the Company: 

Cleco Corporation 
 2030 Donahue
Ferry Road 
 Pineville, Louisiana 71360-5226 

Attn: [            ] 

Telephone: (318) 484-7400 

Facsimile: (318) 484-[            ]

 If to the Trustee: 

[                       
                     ] 

[                       
                     ] 

[                       
                     ] 

[                       
                     ] 
 Attn:
[                                    ] 

Telephone: (                ) 

Facsimile: (                ) 

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

 All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery. 
 Any notice or communication to a Holder shall be mailed by first-class mail, postage prepaid, to the
Holder’s address shown on the register kept by the Registrar. Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it, except in the case of notice to the Trustee, it is duly given only when received. 
 If the Company mails a notice or
communication to Holders, it shall mail a copy to the Trustee and each Agent at the same time. 
 All notices or communications, including
without limitation notices to the Trustee or the Company by Holders, shall be in writing, except as otherwise set forth herein. 
 In case
by reason of the suspension of regular mail service, or by reason of any other cause, it shall be impossible to mail any notice required by this Indenture, then such method of notification as shall be made with the approval of the Trustee shall
constitute a sufficient mailing of such notice. 

  
 46 

 SECTION 10.03 Communication by Holders with Other Holders. 

Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture or the Securities.
The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 SECTION 10.04 Certificate and Opinion
as to Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under this Indenture, the
Company shall, if requested by the Trustee, furnish to the Trustee at the expense of the Company: 
 (1) an Officers’
Certificate (which shall include the statements set forth in Section 10.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been
complied with; and 
 (2) an Opinion of Counsel (which shall include the statements set forth in Section 10.05 hereof)
stating that, in the opinion of such counsel, all such conditions precedent and covenants have been complied with. 
 SECTION 10.05 Statements
Required in Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a condition or covenant provided for
in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include: 

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

(2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has
made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

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

SECTION 10.06 Rules by Trustee and Agents. 

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

  
 47 

 SECTION 10.07 Legal Holidays. 

If a payment date is a Legal Holiday at a Place of Payment, payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period. 
 SECTION 10.08 No Recourse Against Others. 

A director, officer, employee, stockholder, partner or other owner of the Company or the Trustee, as such, shall not have any liability for any
obligations of the Company under the Securities or for any obligations of the Company or the Trustee under this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a
Security waives and releases all such liability. The waiver and release shall be part of the consideration for the issue of Securities. 
 SECTION
10.09 Governing Law. 
 THIS INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. 
 SECTION 10.10 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or any Subsidiary. Any such indenture,
loan or debt agreement may not be used to interpret this Indenture. 
 SECTION 10.11 Successors. 

All agreements of the Company in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture
shall bind its successors. 
 SECTION 10.12 Severability. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall, to the fullest extent permitted by applicable law, not in any way be affected or impaired thereby. 

SECTION 10.13 Counterpart Originals. 

The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. 
 SECTION 10.14 Table of Contents, Headings, etc. 

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

  
 48 

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

			
	CLECO CORPORATION
		
	By: 	 	 
		 	Name:
		 	Title:

  

			
	
[                          
                                         
                 ],
 as Trustee

		
	By:	 	 
		 	Name:
		 	Title:

  
 49

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