Document:

Amended and Restated Trust Agreement dated December 20, 2002

 Exhibit 10.46 
 AMENDED AND RESTATED 
 TRUST AGREEMENT 
 Among 
 THE PB FINANCIAL SERVICES CORPORATION 
 as Depositor, 
 WILMINGTON TRUST
COMPANY 
 as Property Trustee, 
 WILMINGTON TRUST COMPANY, 
 as Delaware Trustee, and 
 Monty G. Watson, 
 John Howard, 
 and 
 Kelly J. Johnson,

 as Administrators 
 Dated as of December 20, 2002 
  

 PB CAPITAL TRUST I 
  

 PB FINANCIAL SERVICES TRUST I 
 Certain Sections of this Trust Agreement relating to Sections 310 through 318 
 of the
Trust Indenture Act of 1939: 
  

					
	 Trust Indenture Act Section
	  	 	  	 Trust Agreement Section

	Section 310	  	(a)(1)	  	8.7
		  	(a)(2)	  	8.7
		  	(a)(3)	  	8.9
		  	(a)(4)	  	2.7(a)(ii)
		  	(b)	  	8.8, 10.10(b)
	Section 311	  	(a)	  	8.13, 10.10(b)
		  	(b)	  	8.13, 10.10(b)
	Section 312	  	(a)	  	10.10(b)
		  	(b)	  	10.10(b), (f)
		  	(c)	  	5.7
	Section 313	  	(a)	  	8.15(a)
		  	(a)(4)	  	10.10(c)
		  	(b)	  	8.15(c), 10.10(c)
		  	(c)	  	10.8, 10.10(c)
		  	(d)	  	10.10(c)
	Section 314	  	(a)	  	8.16, 10.10(d)
		  	(b)	  	Not Applicable
		  	(c)(1)	  	8.17, 10.10(d), (e)
		  	(c)(2)	  	8.17, 10.10(d), (e)
		  	(c)(3)	  	8.17, 10.10(d), (e)
		  	(e)	  	8.17, 10.10(e)
	Section 315	  	(a)	  	8.1(d)
		  	(b)	  	8.2
		  	(c)	  	8.1(c)
		  	(d)	  	8.1(d)
		  	(e)	  	Not Applicable
	Section 316	  	(a)	  	Not Applicable
		  	(a)(1)(A)	  	Not Applicable
		  	(a)(1)(B)	  	Not Applicable
		  	(a)(2)	  	Not Applicable
		  	(b)	  	5.13
		  	(c)	  	6.7
	Section 317	  	(a)(1)	  	Not Applicable
		  	(a)(2)	  	8.14
		  	(b)	  	5.10
	Section 318	  	(a)	  	10.10(a)

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

  

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 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I
	  	DEFINED TERMS	  	1
	 SECTION 1.1.
	  	Definitions	  	1
			
	 ARTICLE II
	  	CONTINUATION OF THE ISSUER TRUST	  	12
	 SECTION 2.1.
	  	Name	  	12
	 SECTION 2.2.
	  	Office of the Delaware Trustee; Principal Place of Business	  	12
	 SECTION 2.3.
	  	Initial Contribution of Trust Property; Organizational Expenses	  	13
	 SECTION 2.4.
	  	Issuance of the Restricted Capital Securities	  	13
	 SECTION 2.5.
	  	Issuance of the Common Securities; Subscription and Purchase of Junior Subordinated Debentures	  	13
	 SECTION 2.6.
	  	Authorization to Issue Additional Trust Securities; Authorization to Subscribe and Purchase Additional Junior Subordinated Debentures	  	14
	 SECTION 2.7.
	  	Declaration of Trust	  	14
	 SECTION 2.8.
	  	Authorization to Enter into Certain Transactions	  	14
	 SECTION 2.9.
	  	Assets of Trust	  	18
	 SECTION 2.10.
	  	Title to Trust Property	  	18
			
	 ARTICLE III
	  	PAYMENT ACCOUNT	  	18
	 SECTION 3.1.
	  	Payment Account	  	18
			
	 ARTICLE IV
	  	DISTRIBUTIONS; REDEMPTION	  	18
	 SECTION 4.1.
	  	Distributions	  	18
	 SECTION 4.2.
	  	Redemption	  	20
	 SECTION 4.3.
	  	Subordination of Common Securities	  	22
	 SECTION 4.4.
	  	Payment Procedures	  	23
	 SECTION 4.5.
	  	Tax Returns and Reports	  	23
	 SECTION 4.6.
	  	Payment of Taxes, Duties, Etc. of the Issuer Trust	  	23
	 SECTION 4.7.
	  	Payments under Indenture or Pursuant to Direct Actions	  	23
	 SECTION 4.8.
	  	Liability of the Holder of Common Securities	  	24
			
	 ARTICLE V
	  	TRUST SECURITIES CERTIFICATES	  	24
	 SECTION 5.1.
	  	Initial Ownership	  	24
	 SECTION 5.2.
	  	The Trust Securities Certificates	  	24
	 SECTION 5.3.
	  	Execution and Delivery of Trust Securities Certificates	  	24
	 SECTION 5.4.
	  	Global Capital Securities	  	25
	 SECTION 5.5.
	  	Registration of Transfer and Exchange Generally; Certain Transfers and Exchanges; Capital Securities Certificates; Securities Act Legends	  	26
	 SECTION 5.6.
	  	Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates	  	30
	 SECTION 5.7.
	  	Persons Deemed Holders	  	30
	 SECTION 5.8.
	  	Access to List of Holders’ Names and Addresses	  	30
	 SECTION 5.9.
	  	Maintenance of Office or Agency	  	30
	 SECTION 5.10.
	  	Appointment of Paying Agent	  	31
	 SECTION 5.11.
	  	Ownership of Common Securities by Depositor	  	31
	 SECTION 5.12.
	  	Notices to Clearing Agency	  	32
	 SECTION 5.13.
	  	Rights of Holders	  	32

  

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	 ARTICLE VI
	  	ACTS OF HOLDERS; MEETINGS; VOTING	  	34
	 SECTION 6.1.
	  	Limitations on Holders’ Voting Rights	  	34
	 SECTION 6.2.
	  	Notice of Meetings	  	35
	 SECTION 6.3.
	  	Meetings of Holders	  	35
	 SECTION 6.4.
	  	Voting Rights	  	36
	 SECTION 6.5.
	  	Proxies, etc.	  	36
	 SECTION 6.6.
	  	Holder Action by Written Consent	  	36
	 SECTION 6.7.
	  	Record Date for Voting and Other Purposes	  	36
	 SECTION 6.8.
	  	Acts of Holders	  	37
	 SECTION 6.9.
	  	Inspection of Records	  	38
			
	 ARTICLE VII
	  	REPRESENTATIONS AND WARRANTIES	  	38
	 SECTION 7.1.
	  	Representations and Warranties of the Property Trustee and the Delaware Trustee	  	38
	 SECTION 7.2.
	  	Representations and Warranties of Depositor	  	39
			
	 ARTICLE VIII
	  	THE ISSUER TRUSTEES; THE ADMINISTRATORS	  	40
	 SECTION 8.1.
	  	Certain Duties and Responsibilities	  	40
	 SECTION 8.2.
	  	Certain Notices	  	42
	 SECTION 8.3.
	  	Certain Rights of Property Trustee	  	42
	 SECTION 8.4.
	  	Not Responsible for Recitals or Issuance of Securities	  	44
	 SECTION 8.5.
	  	May Hold Securities	  	44
	 SECTION 8.6.
	  	Compensation; Indemnity; Fees	  	44
	 SECTION 8.7.
	  	Corporate Property Trustee Required; Eligibility of Trustees and Administrators	  	45
	 SECTION 8.8.
	  	Conflicting Interests	  	46
	 SECTION 8.9.
	  	Co-Trustees and Separate Trustee	  	46
	 SECTION 8.10.
	  	Resignation and Removal; Appointment of Successor	  	47
	 SECTION 8.11.
	  	Acceptance of Appointment by Successor	  	49
	 SECTION 8.12.
	  	Merger, Conversion, Consolidation or Succession to Business	  	49
	 SECTION 8.13.
	  	Preferential Collection of Claims Against Depositor or Issuer Trust	  	49
	 SECTION 8.14.
	  	Trustee May File Proofs of Claim	  	50
	 SECTION 8.15.
	  	Reports by Property Trustee	  	50
	 SECTION 8.16.
	  	Reports to the Property Trustee	  	51
	 SECTION 8.17.
	  	Evidence of Compliance with Conditions Precedent	  	51
	 SECTION 8.18.
	  	Number of Issuer Trustees	  	51
	 SECTION 8.19.
	  	Delegation of Power	  	51
	 SECTION 8.20.
	  	Appointment of Administrators	  	52
			
	 ARTICLE IX
	  	DISSOLUTION, LIQUIDATION AND MERGER	  	52
	 SECTION 9.1.
	  	Dissolution Upon Expiration Date	  	52
	 SECTION 9.2.
	  	Early Dissolution	  	53
	 SECTION 9.3.
	  	Termination	  	53
	 SECTION 9.4.
	  	Liquidation	  	53
	 SECTION 9.5.
	  	Mergers, Consolidations, Amalgamations or Replacements of the Issuer Trust	  	55

  

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	 ARTICLE X
	  	MISCELLANEOUS PROVISIONS	  	56
	 SECTION 10.1.
	  	Limitation of Rights of Holders	  	56
	 SECTION 10.2.
	  	Amendment	  	56
	 SECTION 10.3.
	  	Separability	  	57
	 SECTION 10.4.
	  	Governing Law	  	57
	 SECTION 10.5.
	  	Payments Due on Non-Business Day	  	58
	 SECTION 10.6.
	  	Successors	  	58
	 SECTION 10.7.
	  	Headings	  	59
	 SECTION 10.8.
	  	Reports, Notices and Demands	  	59
	 SECTION 10.9.
	  	Agreement Not to Petition	  	59
	 SECTION 10.10.
	  	Trust Indenture Act; Conflict with Trust Indenture Act	  	60
	 SECTION 10.11.
	  	Acceptance of Terms of Trust Agreement, Guarantee and Indenture	  	61
			
	 Exhibit A.
	  	Certificate of Trust	  	A-1
			
	 Exhibit B.
	  	Form of Restricted Securities Certificate	  	B-1
			
	 Exhibit C.
	  	Form of Common Securities Certificate	  	C-1
			
	 Exhibit D.
	  	Form of Capital Securities Certificate	  	D-1
			
	 Exhibit E.
	  	Form of Placement Agreement	  	E-1

  

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 AMENDED AND RESTATED TRUST AGREEMENT 
 THIS AMENDED AND RESTATED TRUST AGREEMENT, dated as of December 20, 2002, is by and among (i) PB Financial Services Corporation, a Georgia
corporation (including any successors or assigns, the “Depositor”), (ii) Wilmington Trust Company, a Delaware banking corporation, as property trustee (in such capacity, the “Property Trustee” and, in its
separate corporate capacity and not in its capacity as Property Trustee or Delaware Trustee, the “Bank”), (iii) Wilmington Trust Company, a Delaware banking corporation, as Delaware trustee (in such capacity, the
“Delaware Trustee”) (the Property Trustee and the Delaware Trustee are referred to collectively herein as the “Issuer Trustees”), (iv) the Administrators, as hereinafter defined, and (v) the several
Holders, as hereinafter defined. 
 WITNESSETH 
 WHEREAS, the Depositor and the Delaware Trustee have heretofore duly declared and established a statutory trust pursuant to the Delaware Statutory Trust Act by entering into a certain Trust Agreement, dated as of
December 20, 2002 (the “Original Trust Agreement”), and by the execution and filing by the Delaware Trustee with the Secretary of State of the State of Delaware of the Certificate of Trust, filed on December 12, 2002 (the
“Certificate of Trust”), attached as Exhibit A; and 
 WHEREAS, the Depositor and the Delaware Trustee desire to
amend and restate the Original Trust Agreement in its entirety as set forth herein to provide for, among other things, (i) the issuance of the Common Securities by the Issuer Trust to the Depositor, (ii) the issuance and sale of the
Capital Securities by the Issuer Trust pursuant to the Placement Agreement, (iii) the acquisition by the Issuer Trust from the Depositor of all of the right, title and interest in the Junior Subordinated Debentures, (iv) the appointment of
the Administrators and (v) the addition of the Property Trustee as a party to this Trust Agreement. 
 NOW THEREFORE, in consideration
of the agreements and obligations set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each party, intending to be legally bound, for the benefit of the other parties and for
the benefit of the Holders, hereby amends and restates the Original Trust Agreement in its entirety and agrees, as follows: 
 ARTICLE I

 DEFINED TERMS 
 SECTION 1.1. Definitions. 
 For all purposes of this Trust Agreement, except as otherwise expressly provided or unless the
context otherwise requires: 
 (1) The terms defined in this Article have the meanings assigned to them in this Article and include the
plural as well as the singular; 
  

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 (2) All other terms used herein that are defined in the Trust Indenture Act, either directly or by
reference therein, have the meanings assigned to them therein; 
 (3) The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”; 
 (4) All accounting terms used but not
defined herein have the meanings assigned to them in accordance with United States generally accepted accounting principles as in effect at the time of determination; 
 (5) Unless the context otherwise requires, any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this Trust Agreement; 
 (6) The words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Trust Agreement as a whole
and not to any particular Article, Section or other subdivision; and 
 (7) All references to the date the Capital Securities were originally
issued shall refer to the date hereof. 
 “Act” has the meaning specified in Section 6.8. 
 “Additional Amounts” means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of any
Additional Interest (as defined in the Indenture) paid by the Depositor on a Like Amount of Junior Subordinated Debentures for such period. 
 “Additional Sums” has the meaning specified in Section 10.6 of the Indenture. 
 “Administrators” means each Person appointed in accordance with Section 8.20 solely in such Person’s capacity as Administrator of the Issuer Trust continued hereunder and not in such Person’s individual
capacity, or any successor Administrator appointed as herein provided; with the initial Administrators being Monty G. Watson, John Howard, and Kelly J. Johnson. 
 “Affiliate” means with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For
the purposes of this definition, “control” means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms
“controlling” and “controlled” have meanings correlative to the foregoing. 
 “Applicable Procedures”
mean, with respect to any transfer or transaction involving a Global Capital Security or beneficial interest therein, the rules and procedures of the 

  

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Depositary for such Capital Security, in each case to the extent applicable to such transaction and as in effect from time to time. 
 “Bank” has the meaning specified in the preamble to this Trust Agreement. 
 “Bankruptcy Event” means, with respect to any Person: 
 (1) the entry of a decree or order by a court having jurisdiction in the premises judging such Person a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement,
adjudication or composition of or in respect of such Person under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar law, or appointing a receiver, conservator, liquidator, assignee, trustee, sequestrator (or
other similar official) of such Person or of any substantial part of its property or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days; or 
 (2) the institution by such Person of proceedings to be adjudicated a bankrupt or insolvent, or the consent by it to the
institution of bankruptcy or insolvency proceedings against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or state bankruptcy, insolvency, reorganization or other similar
law, or the consent by it to the filing of any such petition or to the appointment of a receiver, conservator, liquidator, assignee, trustee, sequestrator (or similar official) of such Person or of any substantial part of its property or the making
by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due and its willingness to be adjudicated a bankrupt, or the taking of corporate action by such Person
in furtherance of any such action. 
 “Bankruptcy Laws” has the meaning specified in Section 10.9. 
 “Board of Directors” means the board of directors of the Depositor or the Executive Committee of the board of directors of the Depositor
(or any other committee of the board of directors of the Depositor performing similar functions) or a committee designated by the board of directors of the Depositor (or any such committee), comprised of two or more members of the board of directors
of the Depositor or officers of the Depositor, or both. 
 “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Depositor to have been duly adopted by the Depositor’s Board of Directors, or such committee of the Board of Directors or officers of the Depositor to which authority to act on behalf of the Board of
Directors has been delegated, and to be in full force and effect on the date of such certification, and delivered to the Issuer Trustees. 
 “Business Day” means a day other than (a) a Saturday or Sunday, (b) a day on which banking institutions in the City of New York, New York or the City of Wilmington, Delaware are authorized or required by law or
executive order to remain closed or (c) a day on which either the Property Trustee’s corporate trust office or the Indenture Trustee’s corporate trust office is closed for business. 
  

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 “Capital Securities Certificate” means a certificate evidencing ownership of Capital
Securities, substantially in the form attached as Exhibit D, and shall, unless specified otherwise herein, include a Restricted Securities Certificate, substantially in the form attached hereto as Exhibit B. The Capital Securities
Certificate shall be issued initially with a Restricted Capital Securities Legend, which shall remain on such certificate until the Depositor and the Issuer Trust receive an Opinion of Counsel that such legend can be removed consistent with the
Securities Act. 
 “Capital Security” means a preferred undivided beneficial interest in the assets of the Issuer Trust,
having a Liquidation Amount of $50,000 or an integral multiple in excess of such amount and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.

 “Capital Treatment Event” means, in respect of the Issuer Trust, the receipt by the Property Trustee of an Opinion of
Counsel, experienced in such matters and who may be counsel to the Depositor, and determination by the Depositor that, as a result of the occurrence of any amendment to, or change (including any announced prospective change) in, the laws (or any
rules or regulations thereunder) of the United States or any political subdivision thereof or therein, or as a result of any official or administrative pronouncement or action (including any action taken in connection with a regulatory examination
or in connection with or as a result of any change in regulatory policy) or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or such pronouncement, action or decision is announced on or
after the date of the issuance of the Capital Securities of the Issuer Trust, there is more than an insubstantial risk that the Depositor will not be entitled to treat an amount equal to the Liquidation Amount of such Capital Securities as
“Tier 1 Capital” (or the then equivalent thereof) for purposes of the risk-based capital adequacy guidelines of the Board of Governors of the Federal Reserve System, as then in effect and applicable to the Depositor. 
 “Cede” means Cede & Co., as the nominee of the Depositary. 
 “Certificate of Trust” has the meaning specified in the preamble to this Trust Agreement. 
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.
The Depositary shall be the initial Clearing Agency. 
 “Clearing Agency Participant” means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 
 “Closing” and “Closing Date” have the respective meanings specified in the Placement Agreement. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
  

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 “Commission” means the United States Securities and Exchange Commission, or, if at any
time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 
 “Common Securities Certificate” means a certificate evidencing ownership of Common Securities, substantially in the form attached as
Exhibit C. 
 “Common Securities Purchase Agreement” means the Common Securities Purchase Agreement, dated of
even date herewith, between the Issuer Trust and the Depositor, as the same may be amended from time to time. 
 “Common
Security” means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and integral multiples in excess thereof and having the rights provided therefor in this Trust Agreement, including
the right to receive Distributions and a Liquidation Distribution as provided herein. 
 “Corporate Trust Office” means the
principal office of the Property Trustee located in the City of Wilmington, Delaware, which at the time of the execution of this Trust Agreement is located at 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust
Administration. 
 “Debenture Event of Default” means an “Event of Default” as defined in the Indenture.

 “Debenture Purchase Agreement” means the Junior Subordinated Debenture Purchase Agreement, dated of even date herewith,
between the Depositor and the Issuer Trust, as the same may be amended from time to time. 
 “Debenture Redemption Date”
means, with respect to any Junior Subordinated Debentures to be redeemed under the Indenture, the date fixed for redemption of such Debentures under the Indenture. 
 “Delaware Statutory Trust Act” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801, et seq., as it may be amended from time to time. 
 “Delaware Trustee” means the corporation identified as the “Delaware Trustee” in the preamble to this Trust Agreement solely
in its capacity as Delaware Trustee of the Issuer Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor trustee appointed as herein provided. 
 “Depositary” means The Depository Trust Company or any successor thereto. 
 “Depositor” has the meaning specified in the preamble to this Trust Agreement. 
  

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 “Direct Action” has the meaning specified in Section 5.13(c). 
 “Distribution Date” has the meaning specified in Section 4.1(a). 
 “Distributions” means amounts payable in respect of the Trust Securities as provided in Section 4.1. 
 “Early Termination Event” has the meaning specified in Section 9.2. 
 “Event of Default” means any one of the following events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) the occurrence of a Debenture Event of Default; or 
 (2) default by the Issuer Trust in the payment of any Distribution when it becomes due and payable, and continuation of such default for a period of 30 days; or 
 (3) default by the Issuer Trust in the payment of any Redemption Price of any Trust Security when it becomes due and payable; or 
 (4) default in the performance, or breach, in any material respect, of any covenant or warranty of the Issuer Trustees in this Trust Agreement (other
than a covenant or warranty a default in the performance of which or the breach of which is dealt with in clause (2) or (3) above) and continuation of such default or breach for a period of 60 days after there has been given, by
registered or certified mail, to the Issuer Trustees and the Depositor by the Holders of at least 25% in aggregate Liquidation Amount of the Outstanding Capital Securities, a written notice specifying such default or breach and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (5) the occurrence of any Bankruptcy Event with
respect to the Property Trustee or all or substantially all of its property if a successor Property Trustee has not been appointed within a period of 90 days thereof. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and any successor statute thereto, as amended from time to
time. 
 “Expiration Date” has the meaning specified in Section 9.1. 
 “Global Capital Securities Certificate” means a Capital Securities Certificate or Restricted Securities Certificate, as the case may be,
evidencing ownership of Capital Securities, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.4. 
  

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 “Global Capital Security” means those Capital Securities evidenced by the Global Capital
Securities Certificate. 
 “Guarantee” means the Guarantee Agreement executed and delivered by the Depositor and the
Guarantee Trustee, contemporaneously with the execution and delivery of this Trust Agreement, for the benefit of the Holders of the Capital Securities, as amended from time to time. 
 “Guarantee Trustee” means Wilmington Trust Company, solely in its capacity as the trustee that holds the Guarantee for the benefit of
the Holders and not in its individual capacity, or its successor in interest in such capacity, or any successor trustee appointed as herein provided. 
 “Holder” means a Person in whose name a Trust Security or Trust Securities is registered in the Securities Register; any such Person shall be deemed to be a beneficial owner within the meaning of the
Delaware Statutory Trust Act. 
 “Indemnified Person” has the meaning provided in Section 8.6. 
 “Indenture” means the Junior Subordinated Indenture, dated of even date herewith, between the Depositor and the Indenture Trustee (as
amended or supplemented from time to time) relating to the issuance of the Junior Subordinated Debentures. 
 “Indenture
Trustee” means Wilmington Trust Company, a Delaware banking corporation and any successor. 
 “Investment Company
Act” means the Investment Company Act of 1940, as amended. 
 “Investment Company Event” means the receipt by the
Issuer Trust of an Opinion of Counsel experienced in such matters to the effect that, as a result of the occurrence of a change in law or regulation or a written change (including any announced prospective change) in interpretation or application of
law or regulation by any legislative body, court, governmental agency or regulatory authority, there is more than an insubstantial risk that the Issuer Trust is or will be considered an “investment company” that is required to be
registered under the Investment Company Act, which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the issuance of the Capital Securities. 
 “Issuer Trust” means PB Capital Trust I, a Delaware statutory trust created under the Delaware Statutory Trust Act. 
 “Issuer Trustees” has the meaning specified in the preamble to this Trust Agreement. 
  

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 “Junior Subordinated Debentures” means the Depositor’s Floating Rate Junior
Subordinated Debentures, due December 31, 2032, issued pursuant to the Indenture. 
 “Lien” means any lien, pledge,
charge, encumbrance, mortgage, deed of trust, adverse ownership interest, hypothecation, assignment, security interest or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever. 
 “Like Amount” means (a) with respect to a redemption of Trust Securities, Trust Securities having a Liquidation Amount equal to
that portion of the principal amount of Junior Subordinated Debentures to be contemporaneously redeemed in accordance with the Indenture, allocated to the Common Securities and to the Capital Securities pro rata based upon the relative Liquidation
Amounts of such classes and (b) with respect to a distribution of Junior Subordinated Debentures to Holders of Trust Securities in connection with a dissolution or liquidation of the Issuer Trust, Junior Subordinated Debentures having a
principal amount equal to the Liquidation Amount of the Trust Securities of the Holder to whom such Junior Subordinated Debentures are distributed. 
 “Liquidation Amount” means the stated amount of $50,000 per Capital Security and $1,000 per Common Security. 
 “Liquidation Date” means the date on which Junior Subordinated Debentures are to be distributed to Holders of Trust Securities in connection with a dissolution and liquidation of the Issuer Trust pursuant to
Section 9.4. 
 “Liquidation Distribution” has the meaning specified in Section 9.4(d). 
 “Majority in Liquidation Amount of the Capital Securities” or “Majority in Liquidation Amount of the Common Securities”
means, except as provided by the Trust Indenture Act, Capital Securities or Common Securities, as the case may be, representing more than 50% of the aggregate Liquidation Amount of all then Outstanding Capital Securities or Common Securities, as the
case may be. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board, Vice Chairman of the
Board, Chief Executive Officer, President or an Executive Vice President, a Senior Vice President or Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Depositor, and delivered to the party
provided herein. Any Officers’ Certificate delivered with respect to compliance with a condition or covenant provided for in this Trust Agreement shall include: 
 (1) a statement by each officer signing the Officers’ Certificate that such officer has read the covenant or condition and the definitions relating thereto; 
 (2) a brief statement of the nature and scope of the examination or investigation undertaken by such officer in rendering the Officers’ Certificate;

  

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 (3) a statement that such officer has made such examination or investigation as, in such officer’s
opinion, is necessary to enable such officer 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, in the opinion of each such officer, such condition or covenant has been complied with. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee of the Depositor or any Affiliate of the Depositor. 
 “Original Trust Agreement” has the meaning specified in the preamble to this Trust Agreement. 
 “Outstanding,” with respect to Trust Securities, means, as of the date of determination, all Trust Securities theretofore executed and
delivered under this Trust Agreement, except: 
 (1) Trust Securities theretofore canceled by the Property Trustee or delivered to the
Property Trustee for cancellation; 
 (2) Trust Securities for whose payment or redemption cash in the necessary amount has been theretofore
deposited with the Property Trustee or any Paying Agent for the Holders of such Capital Securities, provided that if such Trust Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Trust Agreement; and

 (3) Trust Securities that have been paid or for which other Trust Securities have been executed and delivered in exchange therefor or in
lieu thereof pursuant to Sections 5.4, 5.5 and 5.6; provided, however, that in determining whether the Holders of the requisite Liquidation Amount of the Outstanding Capital Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Capital Securities owned by the Depositor, any Issuer Trustee, any Administrator or any Affiliate of the Depositor, shall be disregarded and deemed not to be Outstanding, except that (a) in determining
whether any Issuer Trustee or any Administrator shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Capital Securities that such Issuer Trustee or such Administrator, as the case may
be, knows to be so owned shall be so disregarded and (b) the foregoing shall not apply at any time when all of the Outstanding Capital Securities are owned by the Depositor, one or more of the Issuer Trustees, one or more of the Administrators
and/or any such Affiliate. Capital Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Administrators the pledgee’s right so to act with respect to such
Capital Securities and that the pledgee is not the Depositor or any Affiliate of the Depositor. 
 “Owner” means each Person
who is the beneficial owner of Global Capital Securities as reflected in the records of the Clearing Agency or, if a Clearing Agency Participant is not the Owner, then as reflected in the records of a Person maintaining an account with such Clearing
Agency (directly or indirectly), in accordance with the rules of such Clearing Agency. 
  

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 “Paying Agent” means any paying agent or co-paying agent appointed pursuant to
Section 5.10 and shall initially be the Property Trustee. 
 “Payment Account” means a segregated non-interest-bearing
corporate trust account maintained with the Property Trustee in its trust department for the benefit of the Holders in which all amounts paid in respect of the Junior Subordinated Debentures will be held and from which the Property Trustee, through
the Paying Agent, shall make payments to the Holders in accordance with Sections 4.1, 4.2 and 9.4. 
 “Person” means a legal
person, including any individual, corporation, estate, partnership, joint venture, association, joint stock company, company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof,
or any other entity of whatever nature. 
 “Placement Agents” means The Bankers Bank, a Georgia banking corporation, and
BankersBanc Capital Corporation, a Georgia corporation. 
 “Placement Agreement” means the Placement Agreement among the
Depositor, the Issuer Trust and the Placement Agents. 
 “Property Trustee” means the Person identified as the
“Property Trustee” in the preamble to this Trust Agreement solely in its capacity as Property Trustee of the Issuer Trust and not in its individual capacity, or its successor in interest in such capacity, or any successor property trustee
appointed as herein provided. 
 “Purchase Agreement” means, collectively, all purchase agreements executed by or on behalf
of the Depositor, the Issuer Trust, and the Owners. 
 “Redemption Date” means, with respect to any Trust Security to be
redeemed, the date fixed for such redemption by or pursuant to this Trust Agreement; provided that each Debenture Redemption Date and the stated maturity of the Junior Subordinated Debentures shall be a Redemption Date for a Like Amount of
Trust Securities, including but not limited to any date of redemption pursuant to the occurrence of any Special Event. 
 “Redemption
Price” means a price equal to the Liquidation Amount, together with accumulated Distributions to, but excluding, the date fixed for redemption. 
 “Relevant Trustee” has the meaning specified in Section 8.10. 
 “Responsible
Officer” when used with respect to the Property Trustee means any officer assigned to the Corporate Trust Office, including any managing director, vice president, principal, assistant vice president, assistant treasurer, assistant secretary
or any other officer of the Property Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of the Indenture, 

  

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and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity
with the particular subject. 
 “Restricted Capital Securities” means all Capital Securities, including those represented by
a Capital Securities Certificate, that are required pursuant to Section 5.5(c) to bear a Restricted Capital Securities Legend. Such term includes the Global Capital Securities Certificate. 
 “Restricted Capital Securities Legend” means a legend substantially in the form of the legend required in the form of a Capital
Securities Certificate set forth in Exhibit D to be placed upon a Restricted Capital Security. 
 “Restricted Securities
Certificate” means a certificate substantially in the form set forth in Exhibit B. 
 “Securities Act” means
the Securities Act of 1933, as amended, and any successor statute thereto, in each case as amended from time to time. 
 “Senior
Indebtedness” has the meaning specified in the Indenture. 
 “Securities Register” and “Securities
Registrar” have the respective meanings specified in Section 5.5. 
 “Special Event” means any Tax Event,
Capital Treatment Event or Investment Company Event. 
 “Successor Capital Securities Certificate” of any particular Capital
Securities Certificate means every Capital Securities Certificate issued after, and evidencing all or a portion of the same beneficial interest in the Issuer Trust as that evidenced by, such particular Capital Securities Certificate; and, for the
purposes of this definition, any Capital Securities Certificate executed and delivered under Section 5.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Capital Securities Certificate shall be deemed to evidence the same
beneficial interest in the Issuer Trust as the mutilated, destroyed, lost or stolen Capital Securities Certificate. 
 “Successor
Capital Securities” has the meaning specified in Section 9.5. 
 “Tax Event” means the receipt by the Issuer
Trust of an Opinion of Counsel experienced in such matters to the effect that, as a result of any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political
subdivision or taxing authority thereof or therein, or as a result of any official or administrative pronouncement or action or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which
pronouncement, action or decision is announced on or after the date of issuance of the Capital Securities (including, without limitation, any of the foregoing arising with respect to, or resulting from, any proceeding or other action commencing on
or before such date), there is more than an insubstantial risk that (i) the Issuer Trust is, or will be within 90 days of the delivery of such 

  

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Opinion of Counsel, subject to United States federal income tax with respect to income received or accrued on the Junior Subordinated Debentures,
(ii) interest payable by the Depositor on the Junior Subordinated Debentures is not, or within 90 days of the delivery of such Opinion of Counsel will not be, deductible by the Depositor, in whole or in part, for United States federal
income tax purposes, or (iii) the Issuer Trust is, or will be within 90 days of the delivery of such Opinion of Counsel, subject to more than a de minimis amount of other taxes, duties or other governmental charges. 
 “Trust Agreement” means this Amended and Restated Trust Agreement, as the same may be modified, amended or supplemented in accordance
with the applicable provisions hereof, including (i) all exhibits hereto, and (ii) for all purposes of this Amended and Restated Trust Agreement any such modification, amendment or supplement, the provisions of the Trust Indenture Act that
are deemed to be a part of and govern this Amended and Restated Trust Agreement and any modification, amendment or supplement, respectively. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939 or any successor statute, in each case as amended from time to time. 
 “Trust Property” means (a) the Junior Subordinated Debentures, (b) any cash on deposit in, or owing to, the Payment Account, (c) all proceeds and rights in respect of the foregoing and
(d) any other property and assets for the time being held or deemed to be held by the Property Trustee pursuant to the trusts of this Trust Agreement. 
 “Trust Securities Certificate” means any one of the Common Securities Certificates or the Capital Securities Certificates. 
 “Trust Security” means any one of the Common Securities or the Capital Securities. 
 ARTICLE II 
 CONTINUATION OF THE
ISSUER TRUST 
 SECTION 2.1. Name. 
 The Issuer Trust continued hereby shall be known as “PB Capital Trust I”, as such name may be modified from time to time by the Administrators following written notice to the Holders of Trust Securities and
the Issuer Trustees, in which name the Administrators and the Issuer Trustees may engage in the transactions contemplated hereby, make and execute contracts and other instruments on behalf of the Issuer Trust and sue and be sued. 
 SECTION 2.2. Office of the Delaware Trustee; Principal Place of Business. 
 The address of the Delaware Trustee in the State of Delaware is Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-0001,
Wilmington, Delaware 19805-1266, Attention: Corporate Trust Administration, or such other address in the State of Delaware as the Delaware Trustee may designate by written notice to the Holders and 

  

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the Depositor. The principal executive office of the Issuer Trust is in care of The PB Financial Services Corporation, 9570 Medlock Bridge Road, Duluth,
Georgia 30097, Attention: Kelly J. Johnson. 
 SECTION 2.3. Initial Contribution of Trust Property; Organizational Expenses.

 The Property Trustee acknowledges receipt in trust from the Depositor in connection with the Original Trust Agreement of the sum of
$10.00, which constitutes the initial Trust Property. The Depositor shall pay all organizational expenses of the Issuer Trust as they arise or shall, upon request of any Issuer Trustee, promptly reimburse such Issuer Trustee for any such expenses
paid by such Issuer Trustee. The Depositor shall make no claim upon the Trust Property for the payment of such expenses. 
 SECTION 2.4.
Issuance of the Restricted Capital Securities. 
 The Depositor, the Issuer Trust, and the Placement Agents executed and delivered the
Placement Agreement pursuant to the Original Trust Agreement. Contemporaneously with the execution and delivery of this Trust Agreement, an Administrator, on behalf of the Issuer Trust, shall manually execute in accordance with Section 5.3 and
the Property Trustee shall authenticate in accordance with Section 5.3 and deliver to the Clearing Agency or its custodian, a Global Capital Securities Certificate, registered in the name of Cede & Co., in an aggregate amount of 80
Capital Securities having an aggregate Liquidation Amount of $4,000,000, against receipt of the aggregate purchase price of such Capital Securities of $4,000,000, by the Property Trustee. 
 SECTION 2.5. Issuance of the Common Securities; Subscription and Purchase of Junior Subordinated Debentures. 
 Contemporaneously with the execution and delivery of this Trust Agreement, an Administrator, on behalf of the Issuer Trust, shall execute in accordance
with Section 5.3 and the Property Trustee shall authenticate and shall deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor, having an aggregate Liquidation Amount of $124,000 against receipt of the
aggregate purchase price of such Common Securities of $124,000 by the Property Trustee. Contemporaneously therewith, an Administrator, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor the Junior Subordinated
Debentures, registered in the name of Wilmington Trust Company, not in its individual capacity, but solely as Property Trustee for the Issuer Trust, and having an aggregate principal amount equal to $4,124,000, and, in satisfaction of the purchase
price for such Junior Subordinated Debentures, the Property Trustee, on behalf of the Issuer Trust, shall deliver to the Depositor the sum of $4,124,000 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second
sentence of Section 2.4, and (ii) the first sentence of this Section 2.5) and receive on behalf of the Issuer Trust the Junior Subordinated Debentures. 
  

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 SECTION 2.6. Authorization to Issue Additional Trust Securities; Authorization to Subscribe and
Purchase Additional Junior Subordinated Debentures. 
 During the period ending 90 days following the date of the Confidential
Offering Memorandum, dated as of December 13, 2002, the Administrators, acting unanimously on behalf of the Issuer Trust, at their discretion, subject to any required regulatory approvals and approval of the Depositor’s Board of Directors,
may cause the Issuer Trust to issue additional Capital Securities and Common Securities on the same terms and in the manner and relative proportions set forth in Sections 2.4 and 2.5; provided, however, that any such additional issuance of
Trust Securities shall occur contemporaneously with the issuance by the Depositor of additional Junior Subordinated Debentures on the same terms and in the manner set forth in Section 2.5, which shall be subscribed for and purchased by an
Administrator on behalf of the Issuer Trust, having an aggregate Liquidation Amount equal to the Aggregate Liquidation Amount of the additional Trust Securities to be issued. The amount of any issuance of additional Trust Securities by the Issuer
Trust, or of additional Junior Subordinated Debentures by the Depositor, is unlimited. 
 SECTION 2.7. Declaration of Trust.

 The exclusive purposes and functions of the Issuer Trust are to (a) issue and sell Trust Securities and use the proceeds from
such sale to acquire the Junior Subordinated Debentures, and (b) engage in only those other activities necessary, convenient or incidental thereto. The Depositor hereby appoints the Issuer Trustees as trustees of the Issuer Trust, to have all
the rights, powers and duties to the extent set forth herein, and the Issuer Trustees hereby accept such appointment. The Property Trustee hereby declares that it will hold the Trust Property in trust upon and subject to the conditions set forth
herein for the benefit of the Issuer Trust and the Holders. The Depositor hereby appoints the Administrators, with such Administrators having all rights, powers and duties set forth herein with respect to accomplishing the purposes of the Issuer
Trust, and the Administrators hereby accept such appointment; provided, however, that it is the intent of the parties hereto that such Administrators shall not be trustees or, to the fullest extent permitted by law, fiduciaries with respect
to the Issuer Trust and this Trust Agreement shall be construed in a manner consistent with such intent. The Property Trustee shall have the right and power (but shall not be obligated) to perform those duties assigned to the Administrators. The
Delaware Trustee, in such capacity, shall not be entitled to exercise any powers, nor shall the Delaware Trustee, in such capacity, have any of the duties and responsibilities, of the Property Trustee or the Administrators set forth herein. The
Delaware Trustee, in such capacity, shall be one of the trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Statutory Trust Act and for taking such actions as are required
to be taken by a Delaware trustee under the Delaware Statutory Trust Act. 
 SECTION 2.8. Authorization to Enter into Certain
Transactions. 
 (a) The Issuer Trustees and the Administrators shall conduct the affairs of the Issuer Trust in accordance with the
terms of this Trust Agreement. Subject to the limitations set forth in paragraph (b) of this Section and in accordance with the following provisions (i), (ii) and (iii), the Issuer Trustees and the Administrators shall act as follows:

 (i) each Administrator, acting jointly or singly, shall: 
 (A) comply with the Placement Agreement regarding the issuance and sale of the Trust Securities; 
  

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 (B) assist in compliance with the Securities Act, applicable state securities or blue sky
laws, and the Trust Indenture Act; 
 (C) assist in the listing of the Capital Securities upon such securities exchange or
exchanges, if any, as shall be determined by the Depositor, with the registration of the Capital Securities under the Exchange Act, if required or if requested by the Depositor, and the preparation and filing of all periodic and other reports and
other documents pursuant to the foregoing; 
 (D) execute the Trust Securities on behalf of the Issuer Trust in accordance
with this Trust Agreement; 
 (E) execute and deliver an application for a taxpayer identification number for the Issuer
Trust; 
 (F) assist in the filing with the Commission, at such time as determined by the Depositor, any registration
statement, if any, under the Securities Act relating to the Trust Securities, including any amendments thereto; 
 (G) unless
otherwise required by the Trust Indenture Act, execute on behalf of the Issuer Trust any documents that the Administrators have the power to execute pursuant to this Trust Agreement, including without limitation, the Debenture Purchase Agreement and
the Common Securities Purchase Agreement; and 
 (H) take any action incidental to the foregoing as necessary or advisable to
give effect to the terms of this Trust Agreement. 
 (ii) The Property Trustee shall have the power and authority to act on
behalf of the Issuer Trust with respect to the following matters: 
 (A) the establishment of the Payment Account; 

(B) the receipt of the Junior Subordinated Debentures; 
 (C) the receipt and collection of interest, principal and any other payments made in respect of the Junior Subordinated Debentures in the
Payment Account; 
  

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 (D) the distribution of amounts owed to the Holders in respect of the Trust Securities;

 (E) the exercise of all of the rights, powers and privileges of a holder of the Junior Subordinated Debentures; 

(F) the sending of notices of default and other information regarding the Trust Securities and the Junior Subordinated Debentures to
the Holders thereof in accordance with this Trust Agreement; 
 (G) the distribution of the Trust Property in accordance with
the terms of this Trust Agreement; 
 (H) to the extent provided in this Trust Agreement, the winding-up of the affairs of and
liquidation of the Issuer Trust and the preparation, execution and filing of the certificate of cancellation with the Secretary of State of the State of Delaware; and 
 (I) after an Event of Default (other than under paragraph (2), (3), (4), or (5) of the definition of such term if such Event of
Default is by or with respect to the Property Trustee), comply with the provisions of this Trust Agreement and take any action to give effect to the terms of this Trust Agreement and protect and conserve the Trust Property for the benefit of the
Holders (without consideration of the effect of any such action on any particular Holder); 
 provided, however, that nothing in this
Section 2.8(a)(ii) shall require the Property Trustee to take any action that is not otherwise required in this Trust Agreement. 
 (iii) The Administrators shall comply with the listing requirements of the Capital Securities upon such securities exchange or exchanges, if any, as shall be determined by the Depositor, the registration of the
Capital Securities under the Exchange Act, if required or if requested by the Depositor, and the preparation and filing of all periodic and other reports and other documents pursuant to the foregoing. 
 (b) So long as this Trust Agreement remains in effect, the Issuer Trust (or the Issuer Trustees or Administrators acting on behalf of the Issuer Trust)
shall not undertake any business, activity or transaction except as expressly provided herein or contemplated hereby. In particular, neither the Issuer Trustees nor the Administrators shall (i) acquire any investments or engage in any
activities not authorized by this Trust Agreement, (ii) sell, assign, transfer, exchange, mortgage, pledge, set-off, or otherwise dispose of any of the Trust Property or interests therein, including to Holders, except as expressly provided
herein, (iii) take any action that would cause the Issuer Trust to become taxable other than as a grantor trust for United States Federal income tax purposes, (iv) incur any indebtedness for borrowed money or issue any other debt, or
(v) take or consent to any action that would result in the placement of a Lien on any of the Trust Property, except as expressly provided herein. The Property Trustee shall defend all 

  

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claims and demands of all Persons at any time claiming any Lien on any of the Trust Property adverse to the interest of the Issuer Trust or the Holders in
their capacity as Holders. 
 (c) In connection with the issue and sale of the Capital Securities, the Depositor shall have the right and
responsibility to assist the Issuer Trust with respect to, or effect on behalf of the Issuer Trust, the following (and any actions taken by the Depositor in furtherance of the following prior to the date of this Trust Agreement are hereby ratified
and confirmed in all respects): 
 (i) the preparation, execution and filing with the Commission of a registration statement
on the appropriate form under the Securities Act or the preparation of offering documents in reliance on one or more exemptions from registration under the Securities Act with respect to the Capital Securities; 
 (ii) the determination of the states in which to take appropriate action to qualify or register for sale or necessary to obtain any
exemption from such qualification or registration of all or part of the Capital Securities and the determination of any and all such acts, other than actions that must be taken by or on behalf of the Issuer Trust, and the advice to the Issuer
Trustees of actions they must take on behalf of the Issuer Trust, and the preparation for execution and filing of any documents to be executed and filed by the Issuer Trust or on behalf of the Issuer Trust, as the Depositor deems necessary or
advisable in order to comply with the applicable laws of any such States in connection with the offer and sale of the Capital Securities; 
 (iii) the negotiation of the terms of, and the execution and delivery of, the Placement Agreement and the Purchase Agreement providing for the sale of the Capital Securities; and 
 (iv) the taking of any other actions necessary or desirable to carry out any of the foregoing activities. 
 (d) Notwithstanding anything herein to the contrary, the Administrators and the Property Trustee are authorized and directed to conduct the affairs of
the Issuer Trust and to operate the Issuer Trust so that the Issuer Trust will not be deemed to be an “investment company” required to be registered under the Investment Company Act, and will not be taxable other than as a grantor trust
for United States Federal income tax purposes and so that the Junior Subordinated Debentures will be treated as indebtedness of the Depositor for United States Federal income tax purposes. In this connection, the Property Trustee and the Holders of
Common Securities are authorized to take any action, not inconsistent with applicable law, the Certificate of Trust or this Trust Agreement, that the Property Trustee and Holders of Common Securities determine in their discretion to be necessary or
desirable for such purposes, as long as such action does not adversely affect in any material respect the interests of the Holders of the Outstanding Capital Securities. In no event shall the Administrators or the Issuer Trustees be liable to the
Issuer Trust or the Holders for any failure to comply with this Section that results from a change in law or regulations or in the interpretation thereof. 
  

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 SECTION 2.9. Assets of Trust. 
 The assets of the Issuer Trust shall consist solely of the Trust Property. 
 SECTION 2.10. Title to Trust Property. 
 Legal title to all Trust Property shall be vested at all
times in the Property Trustee (in its capacity as such) and shall be held and administered by the Property Trustee for the benefit of the Issuer Trust and the Holders in accordance with this Trust Agreement. 
 ARTICLE III 
 PAYMENT ACCOUNT

 SECTION 3.1. Payment Account. 
 (a) At or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and its agents shall have exclusive control and sole right of withdrawal with respect to the Payment
Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property
Trustee in the Payment Account for the exclusive benefit of the Holders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein. 
 (b) The Property Trustee shall deposit in the Payment Account, promptly upon receipt, all payments of principal of or interest on, and any other payments
or proceeds with respect to, the Junior Subordinated Debentures. Amounts held in the Payment Account shall not be invested by the Property Trustee pending distribution thereof. 
 ARTICLE IV 
 DISTRIBUTIONS; REDEMPTION 
 SECTION 4.1. Distributions. 
 (a) The
Trust Securities represent undivided beneficial interests in the Trust Property, and Distributions (including of Additional Amounts) will be made on the Trust Securities at the rate and on the dates that payments of interest (including of Additional
Interest, as defined in the Indenture) are made on the Junior Subordinated Debentures. Accordingly: 
 (i) Distributions on
the Trust Securities shall be cumulative and will accumulate whether or not there are funds of the Issuer Trust available for the payment of Distributions. Distributions shall accumulate from the date of issue of the Trust Securities, and, except in
the event (and to the extent) that the Depositor exercises its right to defer the payment of interest on the Junior Subordinated Debentures pursuant to 

  

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the Indenture, shall be payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, commencing on
December 31, 2002. If any date on which a Distribution is otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day that is a Business Day (without any
additional Distributions or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same
force and effect as if made on the date on which such payment was originally payable (each date on which distributions are payable in accordance with this Section 4.1(a), a “Distribution Date”). 
 (ii) The Trust Securities shall be entitled to Distributions payable at a floating rate, reset quarterly on each Distribution Date for the
next succeeding quarter, equal to the prime rate of interest so published in the “Money Rates” table in the Eastern Edition of The Wall Street Journal for the last Business Day of each of March, June, September and December, as
applicable, plus 100 basis points on the liquidation amount of each Trust Security (“Floating Rate”). If more than one rate is so indicated in The Wall Street Journal, the prime rate shall equal the highest rate
provided therein. The amount of Distributions payable for any full quarterly period shall be computed on the basis of a 360-day year of twelve 30-day months. The amount of Distributions for any period less than a full quarter shall be computed on
the basis of a 360-day year and the actual number of days elapsed during that period. The amount of Distributions payable for any period shall include any Additional Amounts in respect of such period. 
 (iii) So long as no Debenture Event of Default has occurred and is continuing, the Depositor has the right under the Indenture to defer
the payment of interest on the Junior Subordinated Debentures at any time and from time to time for a period not exceeding 20 consecutive quarterly periods (an “Extension Period”), provided that no Extension Period may
extend beyond December 31, 2032 or end on a date that is not a scheduled interest payment date. As a consequence of any such deferral, quarterly Distributions on the Trust Securities by the Issuer Trust will also be deferred and the amount of
Distributions to which Holders of the Trust Securities are entitled will accumulate additional Distributions thereon at the Floating Rate, compounded quarterly, to the extent permitted by applicable law, from the relevant payment date for such
Distributions, computed in the same manner as set forth for Distributions in subsection 4.1(a)(ii) immediately above. The term “Distributions” as used in Section 4.1 shall include any such additional Distributions provided pursuant to
this Section 4.1(a)(iii). 
 (iv) Distributions on the Trust Securities shall be made by the Property Trustee from the
Payment Account and shall be payable on each Distribution Date only to the extent that the Issuer Trust has funds then on hand and available in the Payment Account for the payment of such Distributions. 
 (b) Distributions on the Trust Securities with respect to a Distribution Date shall be payable to the Holders thereof as they appear on the Securities
Register for the Trust Securities at the close of business on the relevant record date, which shall be at the close of 

  

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business on the fifteenth day of the month in which the relevant Distribution Date occurs (or if such date is not a Business Day, the immediately preceding
Business Day). 
 SECTION 4.2. Redemption. 
 (a) On each Debenture Redemption Date and on the stated maturity of the Junior Subordinated Debentures, the Issuer Trust will be required to redeem a Like Amount of Trust Securities at the Redemption Price.

 (b) Notice of redemption shall be given by the Property Trustee 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 Trust Securities to be redeemed, at such Holder’s address appearing in the Securities Register. All notices of redemption shall state: 
 (i) the Redemption Date; 
 (ii) the Redemption Price, or if the Redemption Price cannot be calculated prior to the time the notice is required to be sent, the estimate of the Redemption Price provided pursuant to the Indenture together with a
statement that it is an estimate and that the actual Redemption Price will be calculated on the third Business Day prior to the Redemption Date (and if an estimate is provided, a further notice shall be sent of the actual Redemption Price on the
date, or as soon as practicable thereafter, that notice of such actual Redemption Price is received pursuant to the Indenture); 
 (iii) the CUSIP number or CUSIP numbers of the Capital Securities affected; 
 (iv) if less than all the Outstanding
Trust Securities are to be redeemed, the identification and the total Liquidation Amount of the particular Trust Securities to be redeemed; 
 (v) that on the Redemption Date the Redemption Price will become due and payable upon each such Trust Security to be redeemed and that Distributions thereon will cease to accumulate on and after said date, except as
provided in Section 4.2(d) below; and 
 (vi) the place or places where Trust Securities are to be surrendered for the
payment of the Redemption Price. 
 The Issuer Trust, in issuing the Trust Securities, may use “CUSIP” or “private
placement” numbers (if then generally in use), and, if it does so, the Property Trustee shall indicate the “CUSIP” or “private placement” numbers of the Trust Securities in notices of redemption and related materials as a
convenience to Holders; provided, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Trust Securities or as contained in any notice of redemption and related material.

  

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 (c) The Trust Securities redeemed on each Redemption Date shall be redeemed at the Redemption Price with
the applicable proceeds from the contemporaneous redemption of Junior Subordinated Debentures. Redemptions of the Trust Securities shall be made and the Redemption Price shall be payable on each Redemption Date only to the extent that the Issuer
Trust has funds then on hand and available in the Payment Account for the payment of such Redemption Price. 
 (d) If the Issuer Trust gives
a notice of redemption in respect of any Capital Securities, the Property Trustee will, by 12:00 noon, Eastern Time, on the Redemption Date, subject to Section 4.2(c), with respect to Capital Securities held in global form, irrevocably
deposit with the Clearing Agency for such Capital Securities, to the extent available therefor, funds sufficient to pay the applicable Redemption Price and will give such Clearing Agency irrevocable instructions and authority to pay the Redemption
Price to the Holders of the Capital Securities. With respect to Capital Securities that are not held in global form, if any, the Property Trustee will, subject to Section 4.2(c), irrevocably deposit with the Paying Agent, to the extent
available therefor, funds sufficient to pay the applicable Redemption Price and will give the Paying Agent irrevocable instructions and authority to pay the Redemption Price to the Holders of the Capital Securities upon surrender of their Capital
Securities Certificates or Restricted Securities Certificates, as applicable. Notwithstanding the foregoing, Distributions payable on or prior to the Redemption Date for any Trust Securities called for redemption shall be payable to the Holders of
such Trust Securities as they appear on the Securities Register for the Trust Securities on the relevant record dates for the related Distribution Dates. If notice of redemption shall have been given and funds deposited as required, then, upon the
date of such deposit, all rights of Holders holding Trust Securities so called for redemption will cease, except the right of such Holders to receive the Redemption Price and any Distribution payable in respect of the Trust Securities on or prior to
the Redemption Date, but without interest, and such Trust Securities will cease to be Outstanding. In the event that any date on which any applicable Redemption Price is payable is not a Business Day, then payment of the applicable Redemption Price
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day falls in the next calendar year, such payment will be
made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date. In the event that payment of the Redemption Price in respect of any Trust Securities called for redemption is improperly withheld
or refused and not paid either by the Issuer Trust or by the Depositor pursuant to the Guarantee, Distributions on such Trust Securities will continue to accumulate, as set forth in Section 4.1 and in accordance with the continued accrual of
interest on the Junior Subordinated Debentures, from the Redemption Date originally established by the Issuer Trust for such Trust Securities to the date such applicable Redemption Price is actually paid, in which case the actual payment date will
be the date fixed for redemption for purposes of calculating the applicable Redemption Price. 
 (e) Subject to Section 4.3(a), if less
than all the Outstanding Trust Securities are to be redeemed on a Redemption Date, then the aggregate Liquidation Amount of such Trust Securities to be redeemed shall be allocated pro rata to the Common Securities and the Capital Securities based on
the relative aggregate Liquidation Amounts of such classes. The particular Capital Securities to be redeemed shall be selected on a pro rata basis based on their respective 

  

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Liquidation Amounts not more than 60 days prior to the Redemption Date by the Property Trustee from the Outstanding Capital Securities not previously
called for redemption, or if the Capital Securities are then held in the form of a Global Preferred Security in accordance with the customary procedures for the Clearing Agency. The Property Trustee shall promptly notify the Securities Registrar in
writing of the aggregate Liquidation Amount of Capital Securities to be redeemed and the particular Capital Securities selected for redemption. For all purposes of this Trust Agreement, unless the context otherwise requires, all provisions relating
to the redemption of Capital Securities shall relate, in the case of any Capital Securities redeemed, to the portion of the aggregate Liquidation Amount of Capital Securities that has been or is to be redeemed. 
 SECTION 4.3. Subordination of Common Securities. 
 (a) Payment of Distributions (including Additional Amounts, if applicable) on, the Redemption Price of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth
in Section 4.2(e), pro rata among the Common Securities and the Capital Securities based on the Liquidation Amount of such Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default
resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, Redemption Price of, or Liquidation Distribution
in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made, unless payment in full in cash of all accumulated and unpaid Distributions (including any
Additional Amounts) on all Outstanding Capital Securities for all Distribution periods terminating on or prior thereto, or, in the case of payment of the Redemption Price, the full amount of such Redemption Price on all Outstanding Capital
Securities then called for redemption, or in the case of payment of the Liquidation Distribution, the full amount of such Liquidation Distribution on all Outstanding Capital Securities, shall have been made or provided for, and all funds immediately
available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect of, Capital Securities then due
and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof. 
 (b) In the case of the occurrence of any Event of Default resulting from any Debenture Event of Default, the Holder of the Common Securities shall be deemed to have waived any right to act with respect to any such Event of Default under
this Trust Agreement until the effects of all such Events of Default with respect to the Capital Securities have been cured, waived or otherwise eliminated. Until all such Events of Default under this Trust Agreement with respect to the Capital
Securities have been so cured, waived or otherwise eliminated, to the fullest extent permitted by applicable law, the Property Trustee shall act solely on behalf of the Holders of the Capital Securities and not on behalf of the Holder of the Common
Securities, and only the Holders of the Capital Securities will have the right to direct the Property Trustee to act on their behalf. 
  

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 SECTION 4.4. Payment Procedures. 
 Payments of Distributions (including any Additional Amounts) in respect of the Capital Securities shall be made by check mailed to the address of the
Person entitled thereto as such address shall appear on the Securities Register or, if the Capital Securities are held by a Clearing Agency, such Distributions shall be made to the Clearing Agency in immediately available funds, which will credit
the relevant accounts on the applicable Distribution Dates. Payments in respect of the Common Securities shall be made in such manner as shall be mutually agreed between the Property Trustee and the Holder of the Common Securities. 
 SECTION 4.5. Tax Returns and Reports. 
 The Administrators shall prepare (or cause to be prepared), at the Depositor’s expense, and file all United States federal, state and local tax and information returns and reports required to be filed by or in respect of the Issuer
Trust. In this regard, the Administrators shall (a) prepare and file (or cause to be prepared and filed) all Internal Revenue Service forms required to be filed in respect of the Issuer Trust in each taxable year of the Issuer Trust and
(b) prepare and furnish (or cause to be prepared and furnished) to each Holder all Internal Revenue Service forms required to be provided by the Issuer Trust. The Administrators shall provide the Depositor and the Property Trustee with a copy
of all such returns and reports promptly after such filing or furnishing. The Issuer Trustees shall comply with United States Federal withholding and backup withholding tax laws and information reporting requirements with respect to any payments to
Holders under the Trust Securities. 
 On or before December 15 of each year during which any Capital Securities are Outstanding, the
Administrators shall furnish to the Paying Agent such information as may be reasonably requested by the Property Trustee in order that the Property Trustee may prepare the information which it is required to report for such year on Internal Revenue
Service Forms 1096 and 1099 pursuant to Section 6049 of the Code. Such information shall include the amount of original issue discount includable in income for each Outstanding Capital Security during such year, if any. 
 SECTION 4.6. Payment of Taxes, Duties, Etc. of the Issuer Trust. 
 Upon receipt under the Junior Subordinated Debentures of Additional Sums, the Property Trustee shall promptly pay, out of the proceeds of the Additional Sums, any taxes, duties or governmental charges of whatsoever
nature (other than withholding taxes) imposed on the Issuer Trust by the United States or any other taxing authority. 
 SECTION 4.7.
Payments under Indenture or Pursuant to Direct Actions. 
 Any amount payable hereunder to any Holder of Capital Securities shall be
reduced by the amount of any corresponding payment such Holder (or Owner) has directly received pursuant to Section 5.8 of the Indenture or Section 5.13 of this Trust Agreement. 
  

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 SECTION 4.8. Liability of the Holder of Common Securities. 
 The Holder of Common Securities shall be liable for the debts and obligations of the Issuer Trust as set forth in Section 6.7 of the Indenture
regarding allocation of expenses. 
 ARTICLE V 
 TRUST SECURITIES CERTIFICATES 
 SECTION 5.1. Initial Ownership. 
 Upon the creation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities,
and at any time during which no Trust Securities are Outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust. 
 SECTION 5.2. The Trust Securities Certificates. 
 (a) The Trust Securities Certificates shall be issued in fully registered
form. The Trust Securities Certificates shall be executed on behalf of the Issuer Trust by manual or facsimile signature of at least one Administrator. Trust Securities Certificates bearing the manual or facsimile signatures of individuals who were,
at the time when such signatures shall have been affixed, authorized to sign on behalf of the Issuer Trust, shall be validly issued and entitled to the benefits of this Trust Agreement, notwithstanding that such individuals or any of them shall have
ceased to be so authorized prior to the delivery of such Trust Securities Certificates or did not hold such offices at the date of delivery of such Trust Securities Certificates. A transferee of a Trust Securities Certificate shall become a Holder,
and shall be entitled to the rights and subject to the obligations of a Holder hereunder, upon due registration of such Trust Securities Certificate in such transferee’s name pursuant to Section 5.5. 
 (b) Upon their original issuance, Capital Securities Certificates shall be issued in the form of one or more Global Capital Securities Certificates which
initially shall bear a Restricted Capital Securities Legend, registered in the name of Cede as the Depositary’s nominee and deposited with or on behalf of Depositary for credit by Depositary to the respective accounts of the Owners thereof (or
such other accounts as they may direct). Except as set forth herein, record ownership of the Global Capital Securities may be transferred, in whole or in part, only to another nominee of Depositary or to a successor of the Depository or its nominee.

 (c) A single Common Securities Certificate representing the Common Securities shall be issued to the Depositor in the form of a definitive
Common Securities Certificate. 
 SECTION 5.3. Execution and Delivery of Trust Securities Certificates. 
 At the Closing, an Administrator shall execute, on behalf of the Trust, Trust Securities Certificates, in an aggregate Liquidation Amount as provided in
Sections 2.4 and 2.5, 

  

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and deliver such Trust Securities Certificates to the Property Trustee for authentication. Upon such delivery, the Property Trustee shall authenticate such
Trust Securities Certificates and deliver such Trust Securities Certificates in authorized denominations upon the written order of the Trust, executed by an Administrator thereof, without further corporate action by the Depositor. 
 SECTION 5.4. Global Capital Securities. 
 (a) The Global Capital Security issued under this Trust Agreement shall be registered in the name of Cede & Co., as the nominee of the Clearing Agency and delivered to such custodian therefor, and such Global Capital Security shall
constitute a single Capital Security for all purposes of this Trust Agreement, and it shall initially bear a Restricted Capital Securities Legend. 
 (b) Notwithstanding any other provision in this Trust Agreement, the Global Capital Security may not be exchanged in whole or in part for registered Capital Securities, and no transfer of the Global Capital Security in whole or in part may
be registered, in the name of any Person other than the Clearing Agency for such Global Capital Security, Cede & Co., or other nominee thereof unless: (i) such Clearing Agency advises the Depositor and the Property Trustee in writing
that such Clearing Agency is no longer willing or able to properly discharge its responsibilities as the Clearing Agency with respect to such Global Capital Security, and the Depositor is unable to locate a qualified successor within 90 days,
(ii) at any time the Depositary ceases to be a Clearing Agency registered as such under the Exchange Act, or (iii) the Issuer Trust at its option advises the Depositary in writing that it elects to terminate the book-entry system through
the Clearing Agency. 
 (c) If the Global Capital Security is to be exchanged or canceled in whole, it shall be surrendered by or on behalf
of the Clearing Agency or its nominee to the Securities Registrar for exchange or cancellation as provided in this Article V. If the Global Capital Security is to be exchanged or canceled in part, or if another Capital Security is to be exchanged in
whole or in part for a beneficial interest in the Global Capital Security, then either: (i) such Global Capital Security shall be so surrendered for exchange or cancellation as provided in this Article V, or (ii) the Liquidation Amount
thereof shall be reduced or increased by an amount equal to the portion thereof to be so exchanged or canceled or equal to the Liquidation Amount of such other Capital Security to be so exchanged for a beneficial interest therein, as the case may
be, by means of an appropriate adjustment made on the records of the Securities Registrar, whereupon the Property Trustee, in accordance with the Applicable Procedures, shall instruct the Clearing Agency or its authorized representative to make a
corresponding adjustment to its records. Upon any such surrender or adjustment of the Global Capital Security by the Clearing Agency, accompanied by registration instructions, the Property Trustee shall, subject to Section 5.4(b) and as
otherwise provided in this Article V, authenticate and deliver any Capital Securities or Restricted Capital Securities, as applicable and as instructed by the Administrators, issuable in exchange for such Global Capital Security (or any portion
thereof) in accordance with the instructions of the Clearing Agency. The Property Trustee shall not be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions.

  

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 (d) Every Capital Security or Restricted Capital Security authenticated and delivered upon registration
of, transfer of, or in exchange for or in lieu of, the Global Capital Security or any portion thereof, whether pursuant to this Article V or Article IV or otherwise, shall be authenticated and delivered in the form of, and shall be, a Global Capital
Security, unless such Global Capital Security is registered in the name of a Person other than the Clearing Agency for such Global Capital Security or a nominee thereof. 
 (e) The Clearing Agency or its nominee, as the registered owner of the Global Capital Security, shall be considered the Holder of the Capital Securities or the Restricted Capital Securities represented by the Global
Capital Security for all purposes under this Trust Agreement and the Capital Securities, and owners of beneficial interests in the Global Capital Security shall hold such interests pursuant to the Applicable Procedures and, except as otherwise
provided herein, shall not be entitled to have any of the individual Capital Securities or the Restricted Capital Securities represented by the Global Capital Security registered in their names, shall not receive nor be entitled to receive physical
delivery of any such Capital Securities or the Restricted Capital Securities in definitive form and shall not be considered the Holders thereof under this Trust Agreement. Accordingly, any such owner’s beneficial interest in the Global Capital
Security shall be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Clearing Agency or its nominee. Neither the Property Trustee nor the Securities Registrar shall have any liability in
respect of any transfers effected by the Clearing Agency. 
 (f) The rights of owners of beneficial interests in the Global Capital Security
shall be exercised only through the Clearing Agency and shall be limited to those established by law and agreements between such owners and the Clearing Agency. 
 SECTION 5.5. Registration of Transfer and Exchange Generally; Certain Transfers and Exchanges; Capital Securities Certificates; Securities Act Legends. 
 (a) The Property Trustee shall keep or cause to be kept at its Corporate Trust Office a register or registers (the “Securities
Register”) for the purpose of registering Capital Securities Certificates and Common Securities Certificates and transfers and exchanges of Capital Securities Certificates and Common Securities Certificates and acting as the registrar and
transfer agent with respect to the Capital Securities and Common Securities Certificates (the “Securities Registrar”), subject to such reasonable regulations as it may prescribe, and shall provide for the registration of Capital
Securities Certificates and Common Securities Certificates (subject to Section 5.11 in the case of Common Securities Certificates) in the Securities Register. The Property Trustee is hereby appointed Securities Registrar. The Securities
Registrar shall maintain stop transfer instructions in the Securities Register and as it otherwise deems appropriate to restrict the transfer of Restricted Capital Securities consistent with the terms of this Agreement. 
 Upon surrender for registration of transfer of any Capital Securities Certificate at the offices or agencies of the Property Trustee designated for that
purpose, the Administrators shall execute, and the Property Trustee shall authenticate and deliver, in the name of the 

  

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designated transferee or transferees, one or more new Capital Securities Certificates of the same series of any authorized denominations of like tenor and
aggregate principal amount and bearing such restrictive legends (including the Restricted Capital Securities Legend) as may be required by this Trust Agreement. 
 At the option of the Holder, Capital Securities Certificates may be exchanged for other Capital Securities Certificates of any authorized denominations, of like tenor and aggregate Liquidation Amount and bearing such
restrictive legends (including the Restricted Capital Securities Legend) as may be required by this Trust Agreement, upon surrender of the Capital Securities Certificates to be exchanged at such office or agency of the Property Trustee. Whenever any
securities are so surrendered for exchange, the Administrators shall execute and the Property Trustee shall authenticate and deliver the Capital Securities Certificates that the Holder making the exchange is entitled to receive. 
 All Capital Securities issued upon any transfer or exchange of Capital Securities shall be the valid obligations of the Issuer Trust, evidencing the same
obligations, and entitled to the same benefits under this Trust Agreement, as the Capital Securities surrendered upon such transfer or exchange. 
 Every Capital Securities Certificate presented or surrendered for transfer or exchange shall (if so required by the Property Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the
Property Trustee and the Securities Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing. 
 No service charge shall be made to a Holder for any transfer or exchange of Capital Securities Certificates, but the Property Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed
in connection with any transfer or exchange of Capital Securities Certificates. 
 Neither the Issuer Trust nor the Property Trustee shall be
required, pursuant to the provisions of this Section: (i) to issue, register the transfer of, or exchange any Capital Securities Certificates during a period beginning at the opening of 15 Business Days before the day of selection for
redemption of Capital Securities pursuant to Article IV and ending at the close of business on the day of mailing of the notice of redemption, or (ii) to register the transfer of or exchange any Capital Security so selected for redemption in
whole or in part, except, in the case of any such Capital Security to be redeemed in part, any portion thereof not to be redeemed. 
 (b)
Certain Transfers and Exchanges. Notwithstanding any other provision of this Trust Agreement, transfers and exchanges of Capital Securities and beneficial interests in a Global Capital Security shall be made only in accordance with this
Section 5.5(b). 
 (i) Non-Global Restricted Capital Security to Global Capital Security. If the Holder of a
Restricted Capital Security (other than the Global Capital Security) wishes at any time to transfer all or any portion of such Restricted Capital Security to a Person who wishes to take delivery thereof in the form of a 

  

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beneficial interest in the Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause (b)(i) and subject to
the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Restricted Capital Security as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the
Global Capital Security in a specified Liquidation Amount not greater than the Liquidation Amount of such Restricted Capital Security to be credited to a specified Clearing Agency Participant’s account, and (B) a Restricted Securities
Certificate duly executed for transfer by such Holder or such Holder’s attorney duly authorized in writing, then the Securities Registrar shall cancel such Restricted Capital Security (and issue a new Restricted Capital Security in respect of
any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Global Capital Security by the specified Liquidation Amount as provided in Section 5.4(c). 
 (ii) Non-Global Capital Security to Non-Global Capital Security. A Capital Security that is not a Global Capital Security may be
transferred, in whole or in part, to a Person who takes delivery in the form of another Capital Security that is not a Global Capital Security as provided in Section 5.5(a), provided that if the Capital Security to be transferred in
whole or in part is a Restricted Capital Security, the Securities Registrar shall have received a Restricted Securities Certificate duly executed by the transferor Holder or such Holder’s attorney duly authorized in writing and the Securities
Registrar shall only be required to register the transfer of such Restricted Securities Certificate upon direction from the Depositor that such transfer is permissible. 
 (iii) Exchanges Between Global Capital Security and Non-Global Capital Security. A beneficial interest in the Global Capital
Security may be exchanged for a Capital Security that is not a Global Capital Security only as provided in Section 5.4. 
 (iv) Certain Initial Transfers of Non-Global Capital Securities. In the case of Capital Securities initially issued other than in global form, an initial transfer or exchange of such Capital Securities that does not involve any
change in beneficial ownership may be made to an institutional accredited investor or investors as if such transfer or exchange were not an initial transfer or exchange; provided that written certification shall be provided by the transferee
and transferor of such Capital Securities to the Securities Registrar that such transfer or exchange does not involve a change in beneficial ownership. 
 (v) Limitations Relating to Principal Amount. Notwithstanding any other provision of this Trust Agreement and unless otherwise specified as permitted by this Trust Agreement, Capital Securities or portions
thereof may be transferred or exchanged only in principal amounts of not less than $50,000. Any transfer, exchange or other disposition of Capital Securities in contravention of this Section 5.5(b)(v) shall be deemed to be void and of no legal
effect 

  

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whatsoever, any such transferee shall be deemed not to be the Holder or owner of any beneficial interest in such Capital Securities for any purpose,
including but not limited to the receipt of interest payable on such Capital Securities, such transferee shall be deemed to have no interest whatsoever in such Capital Securities, and the Securities Registrar shall not record any such transfer in
the Securities Register. 
 (c) Restricted Securities Legend. Except as set forth below, all Capital Securities shall bear a
Restricted Capital Securities Legend: 
 (i) subject to the following Clauses of this Section 5.5(c), a Capital Security
or any portion thereof that is exchanged, upon transfer or otherwise, for a Global Capital Security or any portion thereof shall bear the Restricted Capital Securities Legend while represented thereby; 
 (ii) subject to the following Clauses of this Section 5.5(c), a new Capital Security which is not a Global Capital Security and is
issued in exchange for another Capital Security (including a Global Capital Security) or any portion thereof, upon transfer or otherwise, shall, if such new Capital Security is required to be issued in the form of a Restricted Capital Security, bear
a Restricted Capital Securities Legend; 
 (iii) a new Capital Security (other than a Global Capital Security) that does not
bear a Restricted Capital Securities Legend may be issued in exchange for or in lieu of a Restricted Capital Security or any portion thereof that bears such a legend if, in the Depositor’s judgment, placing such a legend upon such new Capital
Security is not necessary to ensure compliance with the requirements of the Securities Act and is permissible under Commission Rule 144(k), and the Property Trustee, at the written direction of the Administrator of the Issuer Trust in the form of an
Officers’ Certificate, shall authenticate and deliver such new Capital Security as provided in this Article V; 
 (iv)
notwithstanding the foregoing provisions of this Section 5.5(c), a Successor Capital Security of a Capital Security that does not bear a Restricted Capital Securities Legend shall not bear such form of legend, unless the Depositor has
reasonable cause to believe that such Successor Capital Security is a “restricted security” within the meaning of Rule 144 under the Securities Act, in which case the Property Trustee, at the written direction of any Administrator of the
Issuer Trust in the form of an Officers’ Certificate, shall authenticate and deliver a new Capital Security bearing a Restricted Capital Securities Legend in exchange for such Successor Capital Security as provided in this Article V; and

 (v) Junior Subordinated Debentures distributed to a holder of Capital Securities upon dissolution of the Issuer Trust shall
bear a Restricted Capital Securities Legend, if the Capital Securities bear a similar legend, absent 

  

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instructions from the Depositor that such legend can be removed consistent with the requirements of the Securities Act, and Commission Rule 144 thereunder.

 SECTION 5.6. Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates. 
 If (a) any mutilated Trust Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Trust Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Administrators such security, indemnity and/or other assurance as may be
required by them, in their discretion, to save each of them harmless, then in the absence of notice that such Trust Securities Certificate shall have been acquired by a bona fide purchaser, the Administrators, or any one of them, on behalf of
the Issuer Trust shall execute and make available for delivery, and the Property Trustee shall authenticate, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Securities Certificate, a new Trust Securities Certificate
of like class, tenor and denomination. In connection with the issuance of any new Trust Securities Certificate under this Section, the Administrators or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate Trust Securities Certificate issued pursuant to this Section 5.6 shall constitute conclusive evidence of an undivided beneficial interest in the assets of the Issuer
Trust corresponding to that evidenced by the lost, stolen or destroyed Trust Securities Certificate, as if originally issued, whether or not the lost, stolen or destroyed Trust Securities Certificate shall be found at any time. 
 SECTION 5.7. Persons Deemed Holders. 
 The Issuer Trustees and the Securities Registrar shall treat the Person in whose name any Trust Securities are issued as the sole owner of such Trust Securities for the purpose of receiving Distributions and for all other purposes
whatsoever, and none of the Issuer Trustees, the Administrators or the Securities Registrar shall be bound by any notice to the contrary. 
 SECTION 5.8. Access to List of Holders’ Names and Addresses. 
 Each Holder and each Owner shall be deemed to have
agreed not to hold the Depositor, the Property Trustee, or the Administrators accountable by reason of the disclosure of its name and address, regardless of the source from which such information was derived. 
 SECTION 5.9. Maintenance of Office or Agency. 
 The Property Trustee shall designate, with the consent of the Administrators, which consent shall not be unreasonably withheld, an office or offices or agency or agencies where Capital Securities Certificates may be
surrendered for registration of transfer or exchange and where notices and demands to or upon the Issuer Trustees in respect of the Trust Securities Certificates may be served. The Property Trustee initially designates its Corporate Trust Office as
its corporate trust office for such purposes. The Property Trustee shall give prompt written 

  

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notice to the Depositor, the Administrators and to the Holders of any change in the location of the Securities Register or any such office or agency.

 SECTION 5.10. Appointment of Paying Agent. 
 The Paying Agent shall make Distributions to Holders from the Payment Account and shall report the amounts of such Distributions to the Property Trustee and the Administrators. Any Paying Agent shall have the
revocable power to withdraw funds from the Payment Account solely for the purpose of making the Distributions referred to above. The Property Trustee may revoke such power and remove any Paying Agent in its sole discretion. The Paying Agent shall
initially be the Property Trustee. Any Person acting as Paying Agent shall be permitted to resign as Paying Agent upon 30 days’ written notice to the Administrators and the Property Trustee. In the event that the Property Trustee shall no
longer be the Paying Agent or a successor Paying Agent shall resign or its authority to act be revoked, the Property Trustee shall appoint a successor (which shall be a bank or trust company) that is reasonably acceptable to the Administrators to
act as Paying Agent. Such successor Paying Agent or any additional Paying Agent appointed by the Administrators shall execute and deliver to the Issuer Trustees an instrument in which such successor Paying Agent or additional Paying Agent shall
agree with the Issuer Trustees that as Paying Agent, such successor Paying Agent or additional Paying Agent will hold all sums, if any, held by it for payment to the Holders in trust for the benefit of the Holders entitled thereto until such sums
shall be paid to such Holders. The Paying Agent shall return all unclaimed funds to the Property Trustee and upon removal of a Paying Agent such Paying Agent shall also return all funds in its possession to the Property Trustee. The provisions of
Sections 8.1, 8.3 and 8.6 herein shall apply to the Bank also in its role as Paying Agent, for so long as the Bank shall act as Paying Agent and, to the extent applicable, to any other paying agent appointed hereunder. Any reference in this Trust
Agreement to the Paying Agent shall include any co-paying agent chosen by the Property Trustee, unless the context requires otherwise. 
 SECTION 5.11. Ownership of Common Securities by Depositor. 
 At Closing, the Depositor shall acquire and retain beneficial
and record ownership of the Common Securities. Neither the Depositor nor any successor Holder of the Common Securities may transfer less than all the Common Securities, and the Depositor or any such successor Holder may transfer the Common
Securities only (i) in connection with a consolidation or merger of the Depositor into another Person, or any conveyance, transfer or lease by the Depositor of its properties and assets substantially as an entirety to any Person, pursuant to
Section 8.1 of the Indenture, or (ii) to an Affiliate of the Depositor in compliance with applicable law (including the Securities Act and applicable state securities and blue sky laws); provided that any such transfer shall be
subject to the condition that the transferor shall have obtained (A) either a ruling from the Internal Revenue Service or an unqualified written Opinion of Counsel by a firm experienced in such matters addressed to the Issuer Trust and
delivered to the Issuer Trustees to the effect that such transfer will not (1) cause the Issuer Trust to be treated as issuing a class of interests in the Issuer Trust differing from the class of interests represented by the Common Securities
originally issued to the Depositor, (2) result in the Issuer Trust acquiring or disposing of, or being deemed to have acquired or disposed of, an asset, or 

  

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(3) result in or cause the Issuer Trust to be treated as anything other than a grantor trust for United States Federal income tax purposes and
(B) an unqualified written Opinion of Counsel by a firm experienced in such matters addressed to the Issuer Trust and delivered to the Issuer Trustees to the effect that such transfer will not cause the Issuer Trust to be an “investment
company” or be controlled by an “investment company” that is required to be registered under the Investment Company Act. To the fullest extent permitted by law, any attempted transfer of the Common Securities, other than as set forth
in the immediately preceding sentence, shall be void. The Administrators shall cause each Common Securities Certificate issued to the Depositor to contain a legend stating “THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT IN COMPLIANCE WITH
APPLICABLE LAW AND SECTION 5.11 OF THE TRUST AGREEMENT.” 
 SECTION 5.12. Notices to Clearing Agency. 
 To the extent that a notice or other communication to the Holders is required under this Trust Agreement, with respect to Capital Securities represented
by Global Capital Securities Certificates, the Administrators and the Issuer Trustees shall give all such notices and communications specified herein to be given to the Clearing Agency, and shall have no obligations to give such notice or other
communication to the Owners. 
 SECTION 5.13. Rights of Holders. 
 (a) The legal title to the Trust Property is vested exclusively in the Property Trustee (in its capacity as such) in accordance with Section 2.10,
and the Holders shall not have any right or title therein other than the undivided beneficial ownership interest in the assets of the Issuer Trust conferred by their Trust Securities and they shall have no right to call for any partition or division
of property, profits or rights of the Issuer Trust, except as described below. The Trust Securities shall be personal property giving only the rights specifically set forth therein and in this Trust Agreement. The Trust Securities shall have no
preemptive or similar rights, and when issued and delivered to Holders against payment of the purchase price therefor, as provided herein, will be fully paid and nonassessable by the Issuer Trust. Except as otherwise provided in Section 4.8,
the Holders of the Trust Securities, in their capacities as such, shall be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit organized under the General Corporation Laws of the State of
Delaware. 
 (b) For so long as any Capital Securities remain Outstanding, if, upon a Debenture Event of Default, the Indenture Trustee fails
or the holders of not less than 25% in principal amount of the outstanding Junior Subordinated Debentures fail to declare the principal of all of the Junior Subordinated Debentures to be immediately due and payable, the Holders of at least 25% in
Liquidation Amount of the Capital Securities then Outstanding shall have such right to make such declaration by a notice in writing to the Property Trustee, the Depositor and the Indenture Trustee. 
 At any time after such a declaration of acceleration with respect to the Junior Subordinated Debentures has been made and before a judgment or decree for
payment of the money due has been obtained by the Indenture Trustee as provided in the Indenture, the Holders 

  

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of a Majority in Liquidation Amount of the Capital Securities, by written notice to the Property Trustee, the Depositor and the Indenture Trustee, may
rescind and annul such declaration and its consequences if: 
 (i) the Depositor has paid or deposited with the Indenture
Trustee a sum sufficient to pay 
 (A) all overdue installments of interest on all of the Junior Subordinated Debentures,

 (B) any accrued Additional Interest on all of the Junior Subordinated Debentures, 
 (C) the principal of (and premium, if any, on) any Junior Subordinated Debentures which have become due otherwise than by such declaration
of acceleration and interest and any Additional Interest thereon at the rate borne by the Junior Subordinated Debentures, and 
 (D) all sums paid or advanced by the Indenture Trustee under the Indenture and the reasonable compensation, expenses, disbursements and advances of the Indenture Trustee and the Property Trustee, their agents and counsel; and 
 (ii) all Events of Default with respect to the Junior Subordinated Debentures, other than the non-payment of the principal of the Junior
Subordinated Debentures that has become due solely by such acceleration, have been cured or waived as provided in Section 5.13 of the Indenture. 
 If the Property Trustee fails to annul any such declaration and waive such default, the Holders of at least a Majority in Liquidation Amount of the Capital Securities shall also have the right to rescind and annul
such declaration and its consequences by written notice to the Depositor, the Property Trustee and the Indenture Trustee, subject to the satisfaction of the conditions set forth in clauses (i) and (ii) of this Section 5.13(b).

 The Holders of at least a Majority in Liquidation Amount of the Capital Securities may, on behalf of the Holders of all the Capital
Securities, waive any past default under the Indenture, except a default in the payment of principal or interest (unless such default has been cured and a sum sufficient to pay all matured installments of interest and principal due otherwise than by
acceleration has been deposited with the Indenture Trustee) or a default in respect of a covenant or provision which under the Indenture cannot be modified or amended without the consent of the holder of each outstanding Junior Subordinated
Debenture. No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 Upon receipt by the Property
Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, by Holders of the Capital Securities, all or part of which is represented by the Global Capital Securities Certificate, a record date shall be 

  

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established for determining Holders of Outstanding Capital Securities entitled to join in such notice, which record date shall be at the close of business on
the day the Property Trustee receives such notice. The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders after such record date;
provided that, unless such declaration of acceleration, or rescission and annulment, as the case may be, shall have become effective by virtue of the requisite percentage having joined in such notice prior to the day which is 90 days
after such record date, such notice of declaration of acceleration, or rescission and annulment, as the case may be, shall automatically and without further action by any Holder be canceled and of no further effect. Nothing in this paragraph shall
prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new written notice of declaration of acceleration, or rescission and annulment thereof, as the case may be, that is identical to a written notice which
has been canceled pursuant to the proviso to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 5.13(b). 
 (c) For so long as any Capital Securities remain Outstanding, to the fullest extent permitted by law and subject to the terms of this Trust Agreement and
the Indenture, upon a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture, any Holder of Capital Securities shall have the right to institute a proceeding directly against the Depositor, pursuant to
Section 5.8 of the Indenture, for enforcement of payment, to such Holder, of the principal amount of or interest on Junior Subordinated Debentures having an aggregate principal amount equal to the aggregate Liquidation Amount of the Capital
Securities held by such Holder (a “Direct Action”). Except as set forth in Sections 5.13(b) and 5.13(c), the Holders of Capital Securities shall have no right to exercise directly any right or remedy available to the holders of, or
in respect of, the Junior Subordinated Debentures. 
 ARTICLE VI 
 ACTS OF HOLDERS; MEETINGS; VOTING 
 SECTION 6.1. Limitations on Holders’
Voting Rights. 
 (a) Except as provided in this Trust Agreement and in the Indenture and as otherwise required by law, no Holder of
Capital Securities shall have any right to vote or in any manner otherwise control the administration, operation and management of the Issuer Trust or the obligations of the parties hereto, nor shall anything herein set forth or contained in the
terms of the Trust Securities Certificates be construed so as to constitute the Holders from time to time as being members of an association. 
 (b) So long as any Junior Subordinated Debentures are held by the Property Trustee on behalf of the Issuer Trust, the Property Trustee shall not (i) direct the time, method and place of conducting any proceeding for any remedy
available to the Indenture Trustee, or execute any trust or power conferred on the Property Trustee with respect to such Junior Subordinated Debentures, (ii) waive any past default that may be waived under Section 5.13 of the Indenture,
(iii) exercise any right to rescind or annul a declaration that the principal of all the Junior Subordinated Debentures shall be due and payable or (iv) consent to any amendment, 

  

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modification or termination of the Indenture or the Junior Subordinated Debentures, where such consent shall be required, without, in each case, obtaining
the prior approval of the Holders of at least a Majority in Liquidation Amount of the Capital Securities; provided, however, that where a consent under the Indenture would require the consent of each holder of Junior Subordinated Debentures
affected thereby, no such consent shall be given by the Property Trustee without the prior written consent of each Holder of Capital Securities. The Property Trustee shall not revoke any action previously authorized or approved by a vote of the
Holders of Capital Securities, except by a subsequent vote of the Holders of Capital Securities. The Property Trustee shall notify all Holders of the Capital Securities of any notice of default received with respect to the Junior Subordinated
Debentures. In addition to obtaining the foregoing approvals of the Holders of the Capital Securities, prior to taking any of the foregoing actions, the Property Trustee shall, at the expense of the Depositor, obtain an Opinion of Counsel
experienced in such matters to the effect that such action will not cause the Issuer Trust to be taxable other than as a grantor trust for United States Federal income tax purposes. 
 (c) If any proposed amendment to the Trust Agreement provides for, or the Issuer Trust otherwise proposes to effect, (i) any action that would
adversely affect in any material respect the interests, powers, preferences or special rights of the Capital Securities, whether by way of amendment to the Trust Agreement or otherwise, or (ii) the dissolution, winding-up or termination of the
Issuer Trust, other than pursuant to the terms of this Trust Agreement, then the Holders of Outstanding Trust Securities as a class will be entitled to vote on such amendment or proposal and such amendment or proposal shall not be effective except
with the approval of the Holders of at least a Majority in Liquidation Amount of the Capital Securities. Notwithstanding any other provision of this Trust Agreement, no amendment to this Trust Agreement may be made if, as a result of such amendment,
it would cause the Issuer Trust to be taxable other than as a grantor trust for United States Federal income tax purposes. 
 SECTION 6.2.
Notice of Meetings. 
 Notice of all meetings of the Holders, stating the time, place and purpose of the meeting, shall be given by the
Property Trustee pursuant to Section 10.8 to each Holder of record, at his registered address, at least 15 days and not more than 90 days before the meeting. At any such meeting, any business properly before the meeting may be so
considered whether or not stated in the notice of the meeting. Any adjourned meeting may be held as adjourned without further notice. 
 SECTION 6.3. Meetings of Holders. 
 No annual meeting of Holders is required to be held. The Property Trustee, however,
shall call a meeting of Holders to vote on any matter upon the written request of the Holders of record of 25% of the aggregate Liquidation Amount of the Capital Securities and the Administrators or the Property Trustee may, at any time in their
discretion, call a meeting of Holders of Capital Securities to vote on any matters as to which Holders are entitled to vote. 
  

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 Holders of at least a Majority in Liquidation Amount of the Capital Securities, present in person or
represented by proxy, shall constitute a quorum at any meeting of Holders of the Capital Securities. 
 If a quorum is present at a meeting,
an affirmative vote by the Holders of record present, in person or by proxy, holding Capital Securities representing at least a Majority in Liquidation Amount of the Capital Securities held by the Holders present, either in person or by proxy, at
such meeting shall constitute the action of the Holders of Capital Securities, unless this Trust Agreement requires a greater number of affirmative votes. 
 SECTION 6.4. Voting Rights. 
 Holders shall be entitled to one vote for each $50,000 of Liquidation
Amount represented by their Outstanding Trust Securities in respect of any matter as to which such Holders are entitled to vote. 
 SECTION 6.5. Proxies, etc. 
 At any meeting of Holders, any Holder entitled to vote at such meeting may vote by proxy,
provided that no proxy shall be voted at any meeting unless it shall have been placed on file with the Property Trustee, or with such other officer or agent of the Issuer Trust as the Property Trustee may direct, for verification prior to the time
at which such vote shall be taken. Pursuant to a resolution of the Property Trustee, proxies may be solicited in the name of the Property Trustee or one or more officers of the Property Trustee. Only Holders of record shall be entitled to vote. When
Trust Securities are held jointly by several persons, any one of them may vote at any meeting in person or by proxy in respect of such Trust Securities, but if more than one of them shall be present at such meeting in person or by proxy, and such
joint owners or their proxies so present disagree as to any vote to be cast, such vote shall not be received in respect of such Trust Securities. A proxy purporting to be executed by or on behalf of a Holder shall be deemed valid unless challenged
at or prior to its exercise, and the burden of proving invalidity shall rest on the challenger. No proxy shall be valid more than three years after its date of execution. 
 SECTION 6.6. Holder Action by Written Consent. 
 Any action that may be taken by Holders at a meeting
may be taken without a meeting and without prior notice if Holders holding at least a Majority in Liquidation Amount of all Trust Securities entitled to vote in respect of such action (or such larger proportion thereof as shall be required by any
other provision of this Trust Agreement) shall consent to the action in writing. 
 SECTION 6.7. Record Date for Voting and Other
Purposes. 
 For the purposes of determining the Holders who are entitled to notice of and to vote at any meeting or by written consent,
or to participate in any distribution on the Trust Securities in respect of which a record date is not otherwise provided for in this Trust 

  

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Agreement, or for the purpose of any other action, the Administrators or Property Trustee may from time to time fix a date, not more than 90 days prior
to the date of any meeting of Holders or the payment of a distribution or other action, as the case may be, as a record date for the determination of the identity of the Holders of record for such purposes. 
 SECTION 6.8. Acts of Holders. 
 Any
request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Trust Agreement to be given, made or taken by Holders may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as otherwise expressly provided herein, such action shall become effective when such instrument or instruments are delivered to the Property
Trustee. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as an “Act” of the Holders signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Trust Agreement and (subject to Section 8.1) conclusive in favor of the Issuer Trustees, if made in the manner provided in this Section.

 The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which any Issuer Trustee or Administrator receiving the same deems sufficient. 
 The ownership of Trust Securities shall be proved by the Securities Register. 
 Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of any Trust Security shall bind every future Holder of the same Trust Security and the Holder of every Trust Security issued upon the registration of transfer thereof or
in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by the Issuer Trustees, the Administrators or the Issuer Trust in reliance thereon, whether or not notation of such action is made upon such Trust
Security. 
 Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Trust
Security may do so with regard to all or any part of the Liquidation Amount of such Trust Security or by one or more duly appointed agents each of which may do so pursuant to such appointment with regard to all or any part of such Liquidation
Amount. 
 If any dispute shall arise among the Holders, the Administrators or the Issuer Trustees with respect to the authenticity, validity
or binding nature of any request, demand, 

  

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authorization, direction, consent, waiver or other Act of such Holder or Issuer Trustee under this Article VI, then the determination of such matter by
the Property Trustee shall be conclusive with respect to such matter. 
 SECTION 6.9. Inspection of Records. 
 Upon reasonable notice to the Administrators and the Property Trustee, the records of the Issuer Trust shall be open to inspection by Holders during
normal business hours for any purpose reasonably related to such Holder’s interest as a Holder. 
 ARTICLE VII 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 7.1. Representations and Warranties of the Property Trustee and the Delaware Trustee. 
 The Property Trustee and the
Delaware Trustee, each severally on behalf of and as to itself, hereby represents and warrants for the benefit of the Depositor and the Holders that: 
 (a) The Property Trustee is a banking corporation with trust powers, duly organized, validly existing and in good standing under the laws of the State of Delaware with the trust powers and authority to execute and
deliver, and to carry out and perform its obligations under the terms of this Trust Agreement. 
 (b) The execution, delivery and performance
by the Property Trustee of this Trust Agreement have been duly authorized by all necessary corporate action on the part of the Property Trustee; and this Trust Agreement has been duly executed and delivered by the Property Trustee, and constitutes a
legal, valid and binding obligation of the Property Trustee, enforceable against it in accordance with its terms, subject to applicable bankruptcy, reorganization, receivership, conservatorship, moratorium, insolvency, and other similar laws
affecting creditors’ rights generally and to general principles of equity and the discretion of the court (regardless of whether the enforcement of such remedies is considered in a proceeding in equity or at law). 
 (c) The execution, delivery and performance of this Trust Agreement by the Property Trustee do not conflict with or constitute a breach of the
certificate of incorporation or by-laws of the Property Trustee. 
 (d) At Closing, the Property Trustee has not knowingly created any Liens
on the Trust Securities. 
 (e) No consent, approval or authorization of, or registration with or notice to, any state or federal banking
authority is required for the execution, delivery or performance by the Property Trustee, of this Trust Agreement. 
  

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 (f) The Delaware Trustee is duly organized, validly existing and in good standing under the laws of the
State of Delaware, with the trust powers and authority to execute and deliver, and to carry out and perform its obligations under the terms of, this Trust Agreement. 
 (g) The execution, delivery and performance by the Delaware Trustee of this Trust Agreement have been duly authorized by all necessary corporate action on the part of the Delaware Trustee; and this Trust Agreement has
been duly executed and delivered by the Delaware Trustee, and constitutes a legal, valid and binding obligation of the Delaware Trustee, enforceable against it in accordance with its terms, subject to applicable bankruptcy, reorganization,
receivership, conservatorship, moratorium, insolvency, and other similar laws affecting creditors’ right generally and to general principles of equity and the discretion of the court (regardless of whether the enforcement of such remedies is
considered in a proceeding in equity or at law). 
 (h) The execution, delivery and performance of this Trust Agreement by the Delaware
Trustee do not conflict with or constitute a breach of the certificate of incorporation or by-laws of the Delaware Trustee. 
 (i) No
consent, approval or authorization of, or registration with or notice to any state or Federal banking authority is required for the execution, delivery or performance by the Delaware Trustee, of this Trust Agreement. 
 (j) The Delaware Trustee is an entity that has its principal place of business in the State of Delaware. 
 SECTION 7.2. Representations and Warranties of Depositor. 
 The Depositor hereby represents and warrants for the benefit of the Holders that: 
 (a) The Trust Securities
Certificates issued at Closing on behalf of the Issuer Trust have been duly authorized and will have been duly and validly executed, and, subject to payment therefor, issued and delivered by the Issuer Trustees pursuant to the terms and provisions
of, and in accordance with the requirements of, this Trust Agreement, and the Holders will be, as of each such date, entitled to the benefits of this Trust Agreement; and 
 (b) There are no taxes, fees or other governmental charges payable by the Issuer Trust (or the Issuer Trustees on behalf of the Issuer Trust) under the laws of the State of Delaware or any political subdivision
thereof in connection with the execution, delivery and performance by either the Property Trustee or the Delaware Trustee, as the case may be, of this Trust Agreement. 
  

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 ARTICLE VIII 
 THE ISSUER TRUSTEES; THE ADMINISTRATORS 
 SECTION 8.1. Certain Duties and Responsibilities.

 (a) The duties and responsibilities of the Issuer Trustees and the Administrators shall be as provided by this Trust Agreement and, in
the case of the Property Trustee, by the Trust Indenture Act. Notwithstanding the foregoing, no provision of this Trust Agreement shall require the Issuer Trustees or the Administrators to expend or risk their own funds or otherwise incur any
financial liability in the performance of any of their duties hereunder, or in the exercise of any of their rights or powers, if they shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it. Whether or not herein expressly so provided, every provision of this Trust Agreement relating to the conduct or affecting the liability of or affording protection to the Issuer Trustees or the
Administrators shall be subject to the provisions of this Section. Nothing in this Trust Agreement shall be construed to release an Administrator or an Issuer Trustee from liability for its own negligent action, its own negligent failure to act, or
its own willful misconduct. To the extent that, at law or in equity, an Issuer Trustee or Administrator has duties and liabilities relating to the Issuer Trust or to the Holders, such Issuer Trustee or Administrator shall not be liable to the Issuer
Trust or to any Holder for such Issuer Trustee’s or Administrator’s good faith reliance on the provisions of this Trust Agreement. The provisions of this Trust Agreement, to the extent that they restrict the duties and liabilities of the
Issuer Trustees and Administrators otherwise existing at law or in equity, are agreed by the Depositor and the Holders to replace such other duties and liabilities of the Issuer Trustees and Administrators. 
 (b) All payments made by the Property Trustee or a Paying Agent in respect of the Trust Securities shall be made only from the revenue and proceeds from
the Trust Property and only to the extent that there shall be sufficient revenue or proceeds from the Trust Property to enable the Property Trustee or a Paying Agent to make payments in accordance with the terms hereof. Each Holder, by its
acceptance of a Trust Security, agrees that it will look solely to the revenue and proceeds from the Trust Property to the extent legally available for distribution to it as herein provided and that neither the Issuer Trustees nor the Administrators
are personally liable to it for any amount distributable in respect of any Trust Security or for any other liability in respect of any Trust Security. This Section 8.1(b) does not limit the liability of the Issuer Trustees expressly set forth
elsewhere in this Trust Agreement or, in the case of the Property Trustee, in the Trust Indenture Act. 
 (c) The Property Trustee, before
the occurrence of any Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Trust Agreement (including pursuant to
Section 10.10), and no implied covenants shall be read into this Trust Agreement against the Property Trustee. If an Event of Default has occurred (that has not been cured or waived pursuant to Section 5.13 of the Indenture), the Property
Trustee shall enforce this Trust Agreement for the benefit of the Holders and shall exercise such of the rights and powers vested in it by this Trust Agreement, and use the same degree of care and skill in its exercise thereof, as a prudent person
would exercise or use under the circumstances in the conduct of his or her own affairs. 
  

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 (d) No provision of this Trust Agreement shall be construed to relieve the Property Trustee from
liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i)
prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred: 
 (A) the duties and obligations of the Property Trustee shall be determined solely by the express provisions of this Trust Agreement (including pursuant to Section 10.10), and the Property Trustee shall not be
liable except for the performance of such duties and obligations as are specifically set forth in this Trust Agreement (including pursuant to Section 10.10); and 
 (B) in the absence of bad faith on the part of the Property Trustee, the Property Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Property Trustee and conforming to the requirements of this Trust Agreement; but in the case of any such certificates or opinions
that by any provision hereof or of the Trust Indenture Act are specifically required to be furnished to the Property Trustee, the Property Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements
of this Trust Agreement; 
 (ii) the Property Trustee shall not be liable for any error of judgment made in good faith by an
authorized officer of the Property Trustee, unless it shall be proved that the Property Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Property Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of at least a Majority in Liquidation Amount
of the Capital Securities relating to the time, method and place of conducting any proceeding for any remedy available to the Property Trustee, or exercising any trust or power conferred upon the Property Trustee under this Trust Agreement;

 (iv) the Property Trustee’s sole duty with respect to the custody, safe keeping and physical preservation of the
Junior Subordinated Debentures and the Payment Account shall be to deal with such property in a similar manner as the Property Trustee deals with similar property for its own account, subject to the protections and limitations on liability afforded
to the Property Trustee under this Trust Agreement and the Trust Indenture Act; 
 (v) the Property Trustee shall not be
liable for any interest on any money received by it except as it may otherwise agree with the Depositor; and money held by the Property Trustee need not be segregated from other funds held by it except in relation to the Payment Account maintained
by the Property Trustee pursuant to Section 3.1 and except to the extent otherwise required by law; 
  

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 (vi) the Property Trustee shall not be responsible for monitoring the compliance by the
Administrators or the Depositor with their respective duties under this Trust Agreement, nor shall the Property Trustee be liable for the default or misconduct of any other Issuer Trustee, the Administrators or the Depositor; and 
 (vii) no provision of this Trust Agreement shall require the Property Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Property Trustee shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Trust Agreement or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (e) The Administrators shall not be responsible for monitoring the compliance by the Issuer Trustees or the Depositor with their respective duties under this Trust Agreement, nor shall any Administrator be liable for the default or
misconduct of any other Administrator, the Issuer Trustees or the Depositor. 
 SECTION 8.2. Certain Notices. 
 (a) Within five Business Days after the occurrence of any Event of Default actually known to a Responsible Officer of the Property Trustee, the Property
Trustee shall transmit, in the manner and to the extent provided in Section 10.8, notice of such Event of Default to the Holders and the Administrators, unless such Event of Default shall have been cured or waived. 
 (b) Within five Business Days after the receipt of notice of the Depositor’s exercise of its right to defer the payment of interest on the Junior
Subordinated Debentures pursuant to the Indenture, the Property Trustee shall transmit, in the manner and to the extent provided in Section 10.8, notice of such exercise to the Holders and the Administrators, unless such exercise shall have
been revoked. 
 SECTION 8.3. Certain Rights of Property Trustee. 
 Subject to the provisions of Section 8.1: 
 (a) the Property Trustee may conclusively rely and shall be fully protected in acting or refraining from acting in good faith upon any resolution, Opinion of Counsel, certificate, written representation of a Holder or transferee,
certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and
to have been signed or presented by the proper party or parties; 
 (b) any direction or act of the Depositor contemplated by this Trust
Agreement shall be sufficiently evidenced by an Officers’ Certificate; 
  

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 (c) the Property Trustee shall have no duty to see to any recording, filing or registration of any
instrument (including any financing or continuation statement or any filing under tax or securities laws) or any re-recording, refiling or re-registration thereof; 
 (d) the Property Trustee may consult with counsel of its own choosing (which counsel may be counsel to the Depositor or any of its Affiliates, and may include any of its employees) and the advice of such 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 on and in accordance with such advice; the Property Trustee shall have the right at any time to seek
instructions concerning the administration of this Trust Agreement from any court of competent jurisdiction; 
 (e) the Property Trustee
shall be under no obligation to exercise any of the rights or powers vested in it by this Trust Agreement at the request or direction of any of the Holders pursuant to this Trust Agreement, unless such Holders shall have offered to the Property
Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; provided that nothing contained in this Section 8.3(e) shall be
taken to relieve the Property Trustee, upon the occurrence of an Event of Default, of its obligation to exercise the rights and powers vested in it by this Trust Agreement; 
 (f) the Property Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other evidence of indebtedness or other paper or document, unless requested in writing to do so by one or more Holders, but the Property Trustee may
make such further inquiry or investigation into such facts or matters as it may see fit; 
 (g) the Property Trustee may execute any of the
trusts or powers hereunder or perform any of its duties hereunder either directly or by or through its agents or attorneys; provided that the Property Trustee shall not be responsible for any misconduct or negligence on the part of any agent
or attorney appointed with due care by it hereunder; 
 (h) whenever in the administration of this Trust Agreement the Property Trustee shall
deem it desirable to receive instructions with respect to enforcing any remedy or right or taking any other action hereunder, the Property Trustee (i) may request instructions from the Holders (which instructions may only be given by the
Holders of the same proportion in Liquidation Amount of the Trust Securities as would be entitled to direct the Property Trustee under the terms of the Trust Securities in respect of such remedy, right or action), (ii) may refrain from
enforcing such remedy or right or taking such other action until such instructions are received, and (iii) shall be fully protected in acting in accordance with such instructions; and 
 (i) except as otherwise expressly provided by this Trust Agreement, the Property Trustee shall not be under any obligation to take any action that is
discretionary under the provisions of this Trust Agreement. 
  

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 No provision of this Trust Agreement shall be deemed to impose any duty or obligation on any Issuer
Trustee or Administrator to perform any act or acts or exercise any right, power, duty or obligation conferred or imposed on it, in any jurisdiction in which it shall be illegal, or in which the Property Trustee shall be unqualified or incompetent
in accordance with applicable law, to perform any such act or acts, or to exercise any such right, power, duty or obligation. No permissive power or authority available to any Issuer Trustee or Administrator shall be construed to be a duty.

 SECTION 8.4. Not Responsible for Recitals or Issuance of Securities. 
 The recitals contained herein and in the Trust Securities Certificates shall be taken as the statements of the Issuer Trust, and neither the Issuer
Trustees nor the Administrators assume any responsibility for their correctness. The Issuer Trustees and the Administrators shall not be accountable for the use or application by the Depositor of the proceeds of the Junior Subordinated Debentures.

 SECTION 8.5. May Hold Securities. 
 The Depositor, the Administrators, any Issuer Trustee or any other agent of any Issuer Trustee or the Issuer Trust, in its individual or any other capacity, may become the owner or pledgee of Trust Securities and,
subject to Sections 5.5(c), 8.8 and 8.13 and except as provided in the definition of the term “Outstanding” in Article I, may otherwise deal with the Issuer Trust with the same rights it would have if it were not the Depositor, an
Administrator, Issuer Trustee or such other agent. 
 SECTION 8.6. Compensation; Indemnity; Fees. 
 The Depositor agrees: 
 (a) to pay to the
Issuer Trustees from time to time reasonable compensation for all services rendered by them hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (b) to reimburse the Issuer Trustees upon request for all reasonable expenses, disbursements and advances incurred or made by the Issuer Trustees in
accordance with any provision of this Trust Agreement (including the reasonable compensation, expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to their negligence or
willful misconduct; and 
 (c) to the fullest extent permitted by applicable law, to indemnify and hold harmless (i) each Issuer
Trustee, (ii) each Administrator, (iii) any Affiliate of any Issuer Trustee, (iv) any officer, director, shareholder, employee, representative or agent of any Issuer Trustee, and (v) any employee or agent of the Issuer Trust,
(referred to herein as an “Indemnified Person”) from and against any loss, damage, liability, tax, penalty, expense or claim of any kind or nature whatsoever incurred by such Indemnified Person arising out of or in connection with
the creation, operation or dissolution of the Issuer Trust or any act or omission performed or 

  

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omitted by such Indemnified Person in good faith on behalf of the Issuer Trust and in a manner such Indemnified Person reasonably believed to be within the
scope of authority conferred on such Indemnified Person by this Trust Agreement, except that no Indemnified Person shall be entitled to be indemnified in respect of any loss, damage or claim incurred by such Indemnified Person by reason of
negligence or willful misconduct with respect to such acts or omissions. 
 The provisions of this Section 8.6 shall survive the
termination of this Trust Agreement and the resignation or removal of the Indemnified Persons. 
 The obligation of the Depositor under this
Section 8.6 to compensate, reimburse and indemnify the Issuer Trustees shall be secured by a Lien upon all Trust Property (except funds held in trust for the benefit of Holders of particular Trust Securities), but only to the extent of the
interest of the Holder of the Common Securities therein. 
 The Depositor, any Administrator and any Issuer Trustee may engage in or possess
an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Issuer Trust, and the Issuer Trust and the Holders of Trust Securities shall have no rights by virtue of
this Trust Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Issuer Trust, shall not be deemed wrongful or improper. Neither
the Depositor, any Administrator, nor any Issuer Trustee shall be obligated to present any particular investment or other opportunity to the Issuer Trust even if such opportunity is of a character that, if presented to the Issuer Trust, could be
taken by the Issuer Trust, and the Depositor, any Administrator or any Issuer Trustee shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment or other
opportunity. Any Issuer Trustee may engage or be interested in any financial or other transaction with the Depositor or any Affiliate of the Depositor, or may act as depository for, trustee or agent for, or act on any committee or body of holders
of, securities or other obligations of the Depositor or its Affiliates. 
 SECTION 8.7. Corporate Property Trustee Required; Eligibility
of Trustees and Administrators. 
 (a) There shall at all times be a Property Trustee hereunder with respect to the Trust Securities. The
Property Trustee shall be a Person that is a national or state chartered bank and eligible pursuant to the Trust Indenture Act to act as such and has a combined capital and surplus of at least $50,000,000. If any such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Person shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time the Property Trustee with respect to the Trust Securities shall cease to be eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect hereinafter specified in this Article VIII. At the time of appointment, the Property Trustee must have securities rated in one of the three highest rating categories by a nationally recognized
statistical rating organization. 
  

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 (b) There shall at all times be one or more Administrators hereunder. Each Administrator shall be either
a natural person who is at least 21 years of age or a legal entity that shall act through one or more persons authorized to bind that entity. An employee, officer or Affiliate of the Depositor may serve as an Administrator. 
 (c) There shall at all times be a Delaware Trustee. The Delaware Trustee shall either be (i) a natural person who is at least 21 years of age and a
resident of the State of Delaware or (ii) a legal entity with its principal place of business in the State of Delaware and that otherwise meets the requirements of applicable Delaware law that shall act through one or more persons authorized to
bind such entity. 
 SECTION 8.8. Conflicting Interests. 
 (a) If the Property Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Property Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Trust Agreement. 
 (b) The Guarantee and the Indenture shall be deemed to be sufficiently described in this Trust Agreement for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture
Act. 
 SECTION 8.9. Co-Trustees and Separate Trustee. 
 Unless an Event of Default shall have occurred and be continuing, at any time or times, for the purpose of meeting the legal requirements of the Trust Indenture Act or of any jurisdiction in which any part of the
Trust Property may at the time be located, the Property Trustee shall have power to appoint, and upon the written request of the Property Trustee, the Depositor and the Administrators shall for such purpose join with the Property Trustee in the
execution, delivery, and performance of all instruments and agreements necessary or proper to appoint, one or more Persons approved by the Property Trustee either to act as co-trustee, jointly with the Property Trustee, of all or any part of such
Trust Property, or to the extent required by law to act as separate trustee of any such property, in either case with such powers as may be provided in the instrument of appointment, and to vest in such Person or Persons in the capacity aforesaid,
any property, title, right or power deemed necessary or desirable, subject to the other provisions of this Section. Any co-trustee or separate trustee appointed pursuant to this Section shall either be (i) a natural person who is at least 21
years of age and a resident of the United States or (ii) a legal entity with its principal place of business in the United States that shall act through one or more persons authorized to bind such entity. 
 Should any written instrument from the Depositor be required by any co-trustee or separate trustee so appointed for more fully confirming to such
co-trustee or separate trustee such property, title, right, or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Depositor. 
  

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 Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent only, be
appointed subject to the following terms, namely: 
 (a) The Trust Securities shall be executed by one or more Administrators, and the Trust
Securities shall be authenticated and delivered by the Property Trustee and all rights, powers, duties, and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or
pledged with, the Property Trustee specified hereunder, shall be exercised, solely by the Property Trustee and not by such co-trustee or separate trustee. 
 (b) The rights, powers, duties, and obligations hereby conferred or imposed upon the Property Trustee in respect of any property covered by such appointment shall be conferred or imposed upon and exercised or
performed by the Property Trustee and such co-trustee or separate trustee jointly, as shall be provided in the instrument appointing such co-trustee or separate trustee, except to the extent that under any law of any jurisdiction in which any
particular act is to be performed, the Property Trustee shall be incompetent or unqualified to perform such act, in which event such rights, powers, duties and obligations shall be exercised and performed by such co-trustee or separate trustee.

 (c) The Property Trustee at any time, by an instrument in writing executed by it, with the written concurrence of the Depositor, may
accept the resignation of or remove any co-trustee or separate trustee appointed under this Section, and, in case a Debenture Event of Default has occurred and is continuing, the Property Trustee shall have power to accept the resignation of, or
remove, any such co-trustee or separate trustee without the concurrence of the Depositor. Upon the written request of the Property Trustee, the Depositor shall join with the Property Trustee in the execution, delivery and performance of all
instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to any co-trustee or separate trustee so resigned or removed may be appointed in the manner provided in this Section 8.9. 
 (d) No co-trustee or separate trustee hereunder shall be personally liable by reason of any act or omission of the Property Trustee or any other trustee
hereunder. 
 (e) The Property Trustee shall not be liable by reason of any act of a co-trustee or separate trustee. 
 (f) Any Act of Holders delivered to the Property Trustee shall be deemed to have been delivered to each such co-trustee and separate trustee. 

SECTION 8.10. Resignation and Removal; Appointment of Successor. 
 No resignation or removal of any Issuer Trustee (the “Relevant Trustee”) and no appointment of a successor trustee pursuant to this Article shall become effective until the acceptance of appointment
by the successor trustee in accordance with the applicable requirements of Section 8.11. 
  

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 Subject to the immediately preceding paragraph, a Relevant Trustee may resign at any time by giving
written notice thereof to the Holders. The Holder of the Common Securities shall appoint a successor by requesting from at least three Persons meeting the eligibility requirements such Persons’ expenses and charges to serve as the successor
trustee on a form provided by the Administrators, and selecting the Person who agrees to the lowest expenses and charges. If the instrument of acceptance by the successor trustee required by Section 8.11 shall not have been delivered to the
Relevant Trustee within 60 days after the giving of such notice of resignation, the Relevant Trustee may petition, at the expense of the Issuer Trust, any court of the State of Delaware for the appointment of a successor Relevant Trustee.

 The Property Trustee or the Delaware Trustee may be removed at any time (i) for cause (including upon the occurrence of an Event of
Default described in subparagraph (5) of the definition thereof with respect to the Relevant Trustee) by the Holder of the Common Securities, or (ii) if a Debenture Event of Default shall have occurred and be continuing at any time, by Act
of the Holders of at least a Majority in Liquidation Amount of the Capital Securities, delivered to the Relevant Trustee (in its individual capacity and on behalf of the Issuer Trust). 
 If a Relevant Trustee shall be removed or become incapable of acting as Issuer Trustee, or if any vacancy shall occur in the office of any Issuer Trustee
for any cause, the Holder of the Common Securities shall promptly appoint a successor Relevant Trustee or Trustees, and such successor Relevant Trustee shall comply with the applicable requirements of Section 8.11; provided, however, if
a Debenture Event of Default shall have occurred and be continuing at such time, the Holders of the Capital Securities, by Act of the Holders of record of not less than 25% in aggregate Liquidation Amount of the Capital Securities then Outstanding
delivered to such Relevant Trustee, shall appoint such successor trustee. If no successor trustee shall have been so appointed by the Holder of the Common Securities or the Holders of the Capital Securities, as applicable, or shall not have accepted
appointment in the manner required by Section 8.11 hereof, any Holder, on behalf of himself and all others similarly situated, or any other Issuer Trustee, may petition any court in the State of Delaware for the appointment of a successor
trustee. 
 The Property Trustee shall give notice of each resignation and each removal of a Relevant Trustee and each appointment of a
successor trustee to all Holders in the manner provided in Section 10.8 and shall give notice to the Depositor and to the Administrators. Each notice shall include the name of the Relevant Trustee and the address of its Corporate Trust Office
if it is the Property Trustee. 
 Notwithstanding the foregoing or any other provision of this Trust Agreement, in the event any Delaware
Trustee who is a natural person dies or becomes, in the opinion of the Holder of the Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or incapacity may be filled by the Property Trustee following the
procedures regarding expenses and charges set forth above (with the successor in each case being a Person who satisfies the eligibility requirements for the Delaware Trustee, as the case may be, set forth in Section 8.7). 
  

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 SECTION 8.11. Acceptance of Appointment by Successor. 
 In case of the appointment hereunder of a successor Relevant Trustee, the retiring Relevant Trustee and each such successor Relevant Trustee (if
requested by the Depositor) with respect to the Trust Securities shall execute, acknowledge and deliver an amendment hereto wherein each successor Relevant Trustee shall accept such appointment and which (a) shall contain such provisions as
shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Relevant Trustee all the rights, powers, trusts and duties of the retiring Relevant Trustee with respect to the Trust Securities and the Issuer Trust, and
(b) shall add to or change any of the provisions of this Trust Agreement as shall be necessary to provide for or facilitate the administration of the Issuer Trust by more than one Relevant Trustee, it being understood that nothing herein or in
such amendment shall constitute such Relevant Trustee a co-trustee, and upon the execution and delivery of such amendment, the resignation or removal of the retiring Relevant Trustee shall become effective to the extent provided therein and each
such successor Relevant Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Relevant Trustee; but, on request of the Issuer Trust or any successor Relevant Trustee
such retiring Relevant Trustee shall duly assign, transfer and deliver to such successor Relevant Trustee all Trust Property, all proceeds thereof and money held by such retiring Relevant Trustee hereunder with respect to the Trust Securities and
the Issuer Trust. 
 Upon request of any such successor Relevant Trustee, the Issuer Trust shall execute any and all instruments for more
fully and certainly vesting in and confirming to such successor Relevant Trustee all such rights, powers and trusts referred to in the preceding paragraph. 
 No successor Relevant Trustee shall accept its appointment unless at the time of such acceptance such successor Relevant Trustee shall be qualified and eligible under this Article VIII. 
 SECTION 8.12. Merger, Conversion, Consolidation or Succession to Business. 
 Any Person into which the Property Trustee or the Delaware Trustee may be merged or converted or with which it may be consolidated, or any Person
resulting from any merger, conversion or consolidation to which such Relevant Trustee shall be a party, or any Person succeeding to all or substantially all the corporate trust business of such Relevant Trustee, shall be the successor of such
Relevant Trustee hereunder; provided that such Person shall be otherwise qualified and eligible under this Article VIII, without the execution or filing of any paper or any further act on the part of any of the parties hereto.

 SECTION 8.13. Preferential Collection of Claims Against Depositor or Issuer Trust. 
 If and when the Property Trustee shall be or become a creditor of the Depositor (or any other obligor upon the Trust Securities), the Property Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor (or any such other obligor) only if this Trust Agreement is subject to the Trust Indenture Act. 
  

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 SECTION 8.14. Trustee May File Proofs of Claim. 
 In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other similar judicial
proceeding relative to the Issuer Trust or any other obligor upon the Trust Securities or the property of the Issuer Trust or of such other obligor, the Property Trustee (irrespective of whether any Distributions on the Trust Securities shall then
be due and payable and irrespective of whether the Property Trustee shall have made any demand on the Issuer Trust for the payment of any past due Distributions) shall be entitled and empowered, to the fullest extent permitted by law, by
intervention in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of any Distributions owing and unpaid in
respect of the Trust Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Property Trustee (including any claim for the reasonable compensation, expenses, disbursements and
advances of the Property Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding; and 
 (b) to collect and
receive any monies or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Property Trustee and, in the event the Property Trustee shall consent to the making of such payments directly to the Holders, to pay to the Property Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Property Trustee, its agents and counsel, and any other amounts due the Property Trustee. 
 Nothing contained herein shall be deemed to authorize the Property Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or compensation affecting the Trust
Securities or the rights of any Holder thereof or to authorize the Property Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 SECTION 8.15. Reports by Property Trustee. 
 (a) Not later than January 31 of each year
commencing with January 31, 2003, the Property Trustee shall transmit to all Holders in accordance with Section 10.8, and to the Depositor, a brief report dated as of the immediately preceding December 31 with respect to: 

(i) its eligibility under Section 8.7 or, in lieu thereof, if to the best of its knowledge it has continued to be eligible under
said Section, a written statement to such effect; and 
 (ii) any change in the property and funds in its possession as
Property Trustee since the date of its last report and any action taken by the Property Trustee in the performance of its duties hereunder which it has not previously reported and which in its opinion materially affects the Trust Securities.

  

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 (b) In addition the Property Trustee shall transmit to Holders such reports concerning the Property
Trustee and its actions under this Trust Agreement as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. 
 (c) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Property Trustee with the Depositor. 
 SECTION 8.16. Reports to the Property Trustee. 
 The Depositor and the Administrators on behalf of
the Issuer Trust shall provide to the Property Trustee such documents, reports and information as required or specified by Section 314 of the Trust Indenture Act (if any and to the extent applicable) and the compliance certificate required or
specified by Section 314(a) of the Trust Indenture Act in the form, in the manner and at the times set forth in Section 314 of the Trust Indenture Act. The Depositor and the Administrators shall annually file with the Property Trustee a
certificate specifying whether such Person is in compliance with all the terms and covenants applicable to such Person hereunder. 
 SECTION 8.17. Evidence of Compliance with Conditions Precedent. 
 Each of the Depositor and the Administrators on behalf of
the Issuer Trust shall provide to the Property Trustee such evidence of compliance with any conditions precedent, if any, provided for in this Trust Agreement that relate to any of the matters set forth in Section 314(c) of the Trust Indenture
Act. Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) of the Trust Indenture Act shall be given in the form of an Officers’ Certificate. 
 SECTION 8.18. Number of Issuer Trustees. 
 (a) The number of Issuer Trustees shall be two; provided, however, the Property Trustee and the Delaware Trustee may be the same Person, in which case, the number of Issuer Trustees may be one. 
 (b) If an Issuer Trustee ceases to hold office for any reason, a vacancy shall occur. The vacancy shall be filled with an Issuer Trustee appointed in
accordance with Section 8.10. 
 (c) The death, resignation, retirement, removal, bankruptcy, incompetence or incapacity to perform the
duties of an Issuer Trustee shall not operate to dissolve, terminate or annul the Issuer Trust or terminate this Trust Agreement. 
 SECTION 8.19. Delegation of Power. 
 (a) Any Administrator may, by power of attorney consistent with applicable law,
delegate to any other natural person over the age of 21 his or her power for the purpose of executing any documents contemplated in Section 2.8(a) or making any governmental filing; and 
  

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 (b) The Administrators shall have power to delegate from time to time to such of their number the doing
of such things and the execution of such instruments either in the name of the Issuer Trust or the names of the Administrators or otherwise as the Administrators may deem expedient, to the extent such delegation is not prohibited by applicable law
or contrary to the provisions of this Trust Agreement. 
 SECTION 8.20. Appointment of Administrators. 
 (a) The Administrators shall be appointed by the Holder of the Common Securities and may be removed by the Holder of the Common Securities or may resign
at any time. Upon any resignation or removal, the Holder of the Common Securities shall appoint a successor Administrator. Each Administrator shall execute this Trust Agreement thereby agreeing to comply with, and be legally bound by, all of the
terms, conditions and provisions of this Trust Agreement. If at any time there is no Administrator, the Property Trustee or any Holder who has been a Holder of Trust Securities for at least six months may petition any court of competent jurisdiction
for the appointment of one or more Administrators. 
 (b) Whenever a vacancy in the number of Administrators shall occur, until such vacancy
is filled by the appointment of an Administrator in accordance with this Section 8.20, the Administrators in office, regardless of their number (and notwithstanding any other provision of this Agreement), shall have all the powers granted to
the Administrators and shall discharge all the duties imposed upon the Administrators by this Trust Agreement. 
 (c) Notwithstanding the
foregoing, or any other provision of this Trust Agreement, in the event any Administrator who is a natural person dies or becomes, in the opinion of the Holder of the Common Securities, incompetent or incapacitated, the vacancy created by such
death, incompetence or incapacity may be filled by the Holder of the Common Securities (with the successor being a Person who satisfies the eligibility requirement for Administrators, as the case may be, set forth in Section 8.7). 

Except as otherwise provided in this Trust Agreement, or by applicable law, any one Administrator may execute any document or otherwise take any
action that the Administrators are authorized to take under this Trust Agreement. 
 ARTICLE IX 
 DISSOLUTION, LIQUIDATION AND MERGER 
 SECTION 9.1. Dissolution Upon Expiration Date. 
 Unless earlier dissolved, the Issuer Trust shall automatically dissolve on
December 31, 2033 (the “Expiration Date”), and thereafter the Trust Property shall be distributed in accordance with Section 9.4. 
  

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 SECTION 9.2. Early Dissolution. 
 The first to occur of any of the following events is an “Early Termination Event,” upon the occurrence of which the Issuer Trust
shall dissolve: 
 (a) the occurrence of the appointment of a receiver or other similar official in any liquidation, insolvency or similar
proceeding with respect to the Depositor or all or substantially all of its property, or entry by a court or other governmental agency of a decree or order if such decree or order shall remain unstayed and undischarged for a period of 60 days,
unless the Depositor shall transfer the Common Securities as provided by Section 5.11, in which case this provision shall refer instead to any such successor Holder of the Common Securities; 
 (b) the written direction to the Property Trustee from the Holder of the Common Securities at any time to dissolve the Issuer Trust and, after paying or
making reasonable provision to pay all charges and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Statutory Trust Act, to distribute the Junior Subordinated Debentures to Holders in exchange for the Trust
Securities (which direction, subject to Section 9.4(a), is optional and wholly within the discretion of the Holder of the Common Securities); 
 (c) the repayment of all of the Capital Securities in connection with the repayment at maturity or redemption of all the Junior Subordinated Debentures; and 
 (d) the entry of an order for dissolution of the Issuer Trust by a court of competent jurisdiction. 
 SECTION 9.3. Termination. 
 As soon as is practicable after the occurrence of an event referred to in Section 9.1 or
9.2, and upon the completion of the winding-up and liquidation of the Issuer Trust, the Administrators and the Issuer Trustees (each of whom is hereby authorized to take such action) shall file a certificate of cancellation with the Secretary of
State of the State of Delaware terminating the Issuer Trust and, upon such filing, the respective obligations and responsibilities of the Issuer Trustees, the Administrators and the Issuer Trust created and continued hereby shall terminate.

 SECTION 9.4. Liquidation. 
 (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the
Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Statutory Trust Act, to each Holder
a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not less than 15 nor more than 45 days prior to the
Liquidation Date to each Holder of Trust Securities at such Holder’s address as it appears in the Securities Register. All notices of liquidation shall: 
 (i) state the Liquidation Date; 
  

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 (ii) state that, from and after the Liquidation Date, the Trust Securities will no longer
be deemed to be Outstanding and any Trust Securities Certificates not surrendered for exchange will be deemed to represent a Like Amount of Junior Subordinated Debentures; and 
 (iii) provide such information with respect to the mechanics by which Holders may exchange Trust Securities Certificates for Junior
Subordinated Debentures, or if Section 9.4(d) applies receive a Liquidation Distribution, as the Administrators or the Property Trustee shall deem appropriate. 
 (b) Except where Section 9.2(c) or 9.4(d) applies, in order to effect the liquidation of the Issuer Trust and distribution of the Junior Subordinated Debentures to Holders, the Property Trustee shall establish a
record date for such distribution (which shall be not more than 30 days prior to the Liquidation Date) and, either itself acting as exchange agent or through the appointment of a separate exchange agent, shall establish such procedures as it
shall deem appropriate to effect the distribution of Junior Subordinated Debentures in exchange for the Outstanding Trust Securities Certificates. 
 (c) Except where Section 9.2(c) or 9.4(d) applies, after the Liquidation Date, (i) the Trust Securities will no longer be deemed to be Outstanding, (ii) the Clearing Agency for the Capital Securities or its nominee, as the
registered Holder of the Global Capital Securities Certificates, shall receive a registered global certificate or certificates representing the Junior Subordinated Debentures to be delivered upon such distribution with respect to Capital Securities
held by the Clearing Agency or its nominee, and (iii) any Trust Securities Certificates not held by the Clearing Agency for the Capital Securities or its nominee as specified in clause (ii) above will be deemed to represent Junior
Subordinated Debentures having a principal amount equal to the stated Liquidation Amount of the Trust Securities represented thereby and bearing accrued and unpaid interest in an amount equal to the accumulated and unpaid Distributions on such Trust
Securities until such certificates are presented to the Securities Registrar for transfer or reissuance. 
 (d) If, notwithstanding the other
provisions of this Section 9.4, whether because of an order for dissolution entered by a court of competent jurisdiction or otherwise, distribution of the Junior Subordinated Debentures is not practical, or if any Early Termination Event
specified in clause (c) of Section 9.2 occurs, the Issuer Trust shall be dissolved, and the Trust Property shall be liquidated, by the Property Trustee in such manner as the Property Trustee determines. In such event, on the date of the
dissolution of the Issuer Trust, the Holders will be entitled to receive, out of the assets of the Issuer Trust available for distribution to the Holders after paying or making reasonable provision to pay all claims and obligations of the Issuer
Trust in accordance with Section 3808(e) of the Delaware Statutory Trust Act, an amount equal to the aggregate of Liquidation Amount per Trust Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being
the “Liquidation Distribution”). If, upon any such dissolution, the Liquidation Distribution can be paid only in part because the 

  

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Issuer Trust has insufficient assets available to pay in full the aggregate Liquidation Distribution, then, subject to the next succeeding sentence, the
amounts payable by the Issuer Trust on the Trust Securities shall be paid on a pro rata basis (based upon Liquidation Amounts). The Holder of the Common Securities will be entitled to receive Liquidation Distributions upon any such dissolution, pro
rata (determined as aforesaid) with the Holders of Capital Securities, except that, if a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture has occurred and is continuing, the Capital Securities shall have a priority over the
Common Securities as provided in Section 4.3. 
 SECTION 9.5. Mergers, Consolidations, Amalgamations or Replacements of the Issuer
Trust. 
 The Issuer Trust may not merge with or into, consolidate, amalgamate, be replaced by, or convey, transfer or lease its
properties and assets substantially as an entirety to, any entity, except pursuant to this Section 9.5 or Section 9.4. At the request of the Holder of the Common Securities, and with the consent of the Holders of at least a Majority in
Liquidation Amount of the Capital Securities, but without the consent of the Issuer Trustees, the Issuer Trust may merge with or into, consolidate, amalgamate, be replaced by, or convey, transfer or lease its properties and assets substantially as
an entirety to a trust organized as such under the laws of any state; provided that (i) such successor entity either (a) expressly assumes all of the obligations of the Issuer Trust with respect to the Capital Securities or
(b) substitutes for the Capital Securities other securities having substantially the same terms as the Capital Securities (the “Successor Capital Securities”) so long as the Successor Capital Securities have the same priority
as the Capital Securities with respect to distributions and payments upon liquidation, redemption and otherwise, (ii) a trustee of such successor entity possessing the same powers and duties as the Property Trustee is appointed to hold the
Junior Subordinated Debentures, (iii) such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease does not cause the Capital Securities (including any Successor Capital Securities) to be downgraded by any nationally
recognized statistical rating organization, if such Capital Securities have been rated by such nationally recognized statistical rating organization, (iv) such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease does
not adversely affect the rights, preferences and privileges of the holders of the Capital Securities (including any Successor Capital Securities) in any material respect, (v) such successor entity has a purpose substantially identical to that
of the Issuer Trust, (vi) prior to such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, the Issuer Trust has received an Opinion of Counsel from a firm experienced in such matters to the effect that
(a) such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease does not adversely affect the rights preferences and privileges of the holders of the Capital Securities (including any Successor Capital Securities) in
any material respect, and (b) following such merger, consolidation, amalgamation, replacement, conveyance, transfer or lease, neither the Issuer Trust nor such successor entity will be required to register as an “investment company”
under the Investment Company Act and (vii) the Depositor or any permitted transferee to whom it has transferred the Common Securities hereunder owns all of the common securities of such successor entity and guarantees the obligations of such
successor entity under the Capital Securities or Successor Capital Securities at least to the extent provided by the Guarantee. Notwithstanding the foregoing, the Issuer Trust shall not, except with the consent of the Holders of 100% in 

  

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Liquidation Amount of the Capital Securities, consolidate, amalgamate, merge with or into, be replaced by, or convey, transfer or lease its properties and
assets substantially as an entirety to, any other entity or permit any other entity to consolidate, amalgamate, merge with or into, or replace it if such consolidation, amalgamation, merger, replacement, conveyance, transfer or lease would cause the
Issuer Trust or the successor entity to be taxable other than as a grantor trust for United States Federal income tax purposes. 
 ARTICLE
X 
 MISCELLANEOUS PROVISIONS 
 SECTION 10.1. Limitation of Rights of Holders. 
 Except as set forth in Section 9.2, the bankruptcy, dissolution,
termination, death or incapacity of any Person having an interest, beneficial or otherwise, in Trust Securities shall not operate to terminate this Trust Agreement, nor entitle the legal or personal representatives or heirs of such Person or any
Holder for such Person, to claim an accounting, take any action or bring any proceeding in any court for a partition or winding-up of the arrangements contemplated hereby, nor otherwise affect the rights, obligations and liabilities of the parties
hereto or any of them. Any merger or similar agreement shall be executed by the Administrators on behalf of the Issuer Trust. 
 SECTION
10.2. Amendment. 
 (a) This Trust Agreement may be amended from time to time by the Holder of the Common Securities, without the consent
of any Holder of the Capital Securities (i) to cure any ambiguity, correct or supplement any provision herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions
arising under this Trust Agreement; provided, however, that any such amendment shall not adversely affect in any material respect the interests of any Holder or (ii) to modify, eliminate or add to any provisions of this Trust Agreement
to such extent as shall be necessary to ensure that the Issuer Trust will not be taxable other than as a grantor trust for United States Federal income tax purposes at any time that any Trust Securities are Outstanding or to ensure that the Issuer
Trust will not be required to register as an investment company under the Investment Company Act. 
 (b) Except as provided in
Section 10.2(c) hereof, any provision of this Trust Agreement may be amended by the Holder of the Common Securities with (i) the consent of the Holders of at least a Majority in Liquidation Amount of the Capital Securities and
(ii) receipt by the Issuer Trustees of an Opinion of Counsel to the effect that such amendment or the exercise of any power granted to the Issuer Trustees in accordance with such amendment will not affect the Issuer Trust’s being taxable
as a grantor trust for United States Federal income tax purposes or the Issuer Trust’s exemption from status of an “investment company” under the Investment Company Act. 
  

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 (c) In addition to and notwithstanding any other provision in this Trust Agreement, without the consent
of each affected Holder, this Trust Agreement may not be amended to (i) change the amount or timing of any Distribution on the Trust Securities or otherwise adversely affect the amount of any Distribution required to be made in respect of the
Trust Securities as of a specified date or (ii) restrict the right of a Holder to institute suit for the enforcement of any such payment on or after such date. 
 (d) Notwithstanding any other provisions of this Trust Agreement, no Issuer Trustee shall enter into or consent to any amendment to this Trust Agreement which would cause the Issuer Trust to fail or cease to qualify
for the exemption from status as an “investment company” under the Investment Company Act or be taxable other than as a grantor trust for United States Federal income tax purposes. 
 (e) Notwithstanding anything in this Trust Agreement to the contrary, without the consent of the Depositor and the Administrators, this Trust Agreement
may not be amended in a manner that imposes any additional obligation on the Depositor or the Administrators. 
 (f) In the event that any
amendment to this Trust Agreement is made, the Administrators or the Property Trustee shall promptly provide to the Depositor a copy of such amendment. 
 (g) No amendment to this Trust Agreement may be adopted that adversely affects the Property Trustee’s or the Delaware Trustee’s rights, duties or immunities under this Trust Agreement, except with the
consent of such Property Trustee or Delaware Trustee. The Property Trustee shall be entitled to receive an Opinion of Counsel and an Officers’ Certificate stating that any amendment to this Trust Agreement is in compliance with this Trust
Agreement. 
 (h) Any amendments to this Trust Agreement made pursuant to Section 10.2(a) shall become effective when notice of such
amendment is given to the Holders of the Trust Securities. 
 SECTION 10.3. Separability. 
 In case any provision in this Trust Agreement or in the Trust Securities Certificates shall be determined to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 10.4.
Governing Law. 
 THIS TRUST AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE HOLDERS, THE ISSUER TRUST, THE DEPOSITOR, THE ISSUER
TRUSTEES AND THE ADMINISTRATORS SHALL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS OF THE STATE OF
DELAWARE OR ANY OTHER JURISDICTION THAT WOULD CALL FOR THE 

  

 - 57 - 

 
APPLICATION OF THE LAW OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE; PROVIDED, HOWEVER, THAT THERE SHALL NOT BE APPLICABLE TO THE HOLDERS, THE ISSUER
TRUST, THE DEPOSITOR, THE ISSUER TRUSTEES, THE ADMINISTRATORS OR THIS TRUST AGREEMENT ANY PROVISION OF THE LAWS (STATUTORY OR COMMON) OF THE STATE OF DELAWARE PERTAINING TO TRUSTS OTHER THAN THE DELAWARE STATUTORY TRUST ACT THAT RELATE TO OR
REGULATE, IN A MANNER INCONSISTENT WITH THE TERMS HEREOF (A) THE FILING WITH ANY COURT OR GOVERNMENTAL BODY OR AGENCY OF TRUSTEE ACCOUNTS OR SCHEDULES OF TRUSTEE FEES AND CHARGES, (B) AFFIRMATIVE REQUIREMENTS TO POST BONDS FOR TRUSTEES,
OFFICERS, AGENTS OR EMPLOYEES OF A TRUST, (C) THE NECESSITY FOR OBTAINING COURT OR OTHER GOVERNMENTAL APPROVAL CONCERNING THE ACQUISITION, HOLDING OR DISPOSITION OF REAL OR PERSONAL PROPERTY, (D) FEES OR OTHER SUMS PAYABLE TO TRUSTEES,
OFFICERS, AGENTS OR EMPLOYEES OF A TRUST, (E) THE ALLOCATION OF RECEIPTS AND EXPENDITURES TO INCOME OR PRINCIPAL, (F) RESTRICTIONS OR LIMITATIONS ON THE PERMISSIBLE NATURE, AMOUNT OR CONCENTRATION OF TRUST INVESTMENTS OR REQUIREMENTS
RELATING TO THE TITLING, STORAGE OR OTHER MANNER OF HOLDING OR INVESTING TRUST ASSETS OR (G) THE ESTABLISHMENT OF FIDUCIARY OR OTHER STANDARDS OF RESPONSIBILITY OR LIMITATIONS ON THE ACTS OR POWERS OF TRUSTEES THAT ARE INCONSISTENT WITH THE
LIMITATIONS OR LIABILITIES OR AUTHORITIES AND POWERS OF THE ISSUER TRUSTEES OR THE ADMINISTRATOR AS SET FORTH OR REFERENCED IN THIS TRUST AGREEMENT. SECTION 3540 OF TITLE 12 OF THE DELAWARE CODE SHALL NOT APPLY TO THE ISSUER TRUST.

 SECTION 10.5. Payments Due on Non-Business Day. 
 If the date fixed for any payment on any Trust Security shall be a day that is not a Business Day, then such payment need not be made on such date but may be made on the next succeeding day that is a Business Day
except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case, with the same force and effect as though made on the date fixed for such payment, and no
Distributions or interest shall accumulate on such unpaid amount for the period after such date. 
 SECTION 10.6. Successors.

 This Trust Agreement shall be binding upon and shall inure to the benefit of any successor to the Depositor, the Issuer Trust, the
Administrators and any Issuer Trustee, including any successor by operation of law. Except in connection with a consolidation, merger or sale involving the Depositor that is permitted under Article VIII of the Indenture and pursuant to which
the assignee agrees in writing to perform the Depositor’s obligations hereunder, the Depositor shall not assign its obligations hereunder. 
  

 - 58 - 

 SECTION 10.7. Headings. 
 The Article and Section headings are for convenience only and shall not affect the construction of this Trust Agreement. 
 SECTION 10.8. Reports, Notices and Demands. 
 Any report, notice, demand or other communication that by any provision of this Trust Agreement is required or permitted to be given or served to or upon any Holder or the Depositor may be given or served in writing by deposit thereof,
first class postage prepaid, in the United States mail, hand delivery or facsimile transmission, in each case, addressed, (a) in the case of a Holder of Capital Securities, to such Holder as such Holder’s name and address may appear on the
Securities Register; and (b) in the case of the Holder of Common Securities or the Depositor, to The PB Financial Services Corporation, Attention: Kelly J. Johnson, facsimile no.: (770) 814-8804, or to such other address as may be
specified in a written notice by the Depositor to the Property Trustee. Such notice, demand or other communication to or upon a Holder shall be deemed to have been sufficiently given or made, for all purposes, upon hand delivery, mailing or
transmission. Such notice, demand or other communication to or upon the Depositor shall be deemed to have been sufficiently given or made only upon actual receipt of the writing by the Depositor. 
 Any notice, demand or other communication which by any provision of this Trust Agreement is required or permitted to be given or served to or upon the
Issuer Trust, the Property Trustee, the Delaware Trustee, the Administrators, or the Issuer Trust shall be given in writing addressed (until another address is published by the Issuer Trust) as follows: (a) with respect to the Property Trustee
to Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration; (b) with respect to the Delaware Trustee to 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention:
Corporate Trust Administration; and (c) with respect to the Administrators, to them at the address above for notices to the Depositor, marked “Attention: PB Capital Trust I Administrators.” Such notice, demand or other communication
to or upon the Issuer Trust or the Property Trustee shall be deemed to have been sufficiently given or made only upon actual receipt of the writing by the Issuer Trust, the Property Trustee, or such Administrator. 
 SECTION 10.9. Agreement Not to Petition. 
 Each of the Issuer Trustees, the Administrators and the Depositor agree for the benefit of the Holders that, until at least one year and one day after the Issuer Trust has been terminated in accordance with Article IX, they shall not
file, or join in the filing of, a petition against the Issuer Trust under any bankruptcy, insolvency, reorganization or other similar law (including, without limitation, the United States Bankruptcy Code) (collectively, “Bankruptcy
Laws”) or otherwise join in the commencement of any proceeding against the Issuer Trust under any Bankruptcy Law. In the event the Depositor takes action in violation of this Section 10.9, the Property Trustee agrees, for the benefit
of Holders, that at the expense of the Depositor, it shall file an answer with the bankruptcy court or other court or otherwise properly contest the filing of such petition by the Depositor against the Issuer Trust or the commencement of such action
and raise the defense that the Depositor has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as counsel for the 

  

 - 59 - 

 
Issuer Trustee or the Issuer Trust may assert. If any Issuer Trustee or Administrator takes action in violation of this Section 10.9, the Depositor
agrees, for the benefit of the Holders, that at the expense of the Depositor, it shall file an answer with the bankruptcy court or otherwise properly contest the filing of such petition by such Person against the Depositor or the commencement of
such action and raise the defense that such Person has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as counsel for the Issuer Trustee or the Issuer Trust may assert. The
provisions of this Section 10.9 shall survive the termination of this Trust Agreement. 
 SECTION 10.10. Trust Indenture Act;
Conflict with Trust Indenture Act. 
 (a) Trust Indenture Act; Application. (i) This Trust Agreement is subject to the
provisions of the Trust Indenture Act that are required to be a part of this Trust Agreement and shall, to the extent applicable, be governed by such provisions; (ii) if and to the extent that any provision of this Trust Agreement limits,
qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control; (iii) for purposes of this Trust Agreement, the Property Trustee, to the extent permitted by
applicable law and/or the rules and regulations of the Commission, shall be the only Issuer Trustee which is a trustee for the purposes of the Trust Indenture Act; and (iv) the application of the Trust Indenture Act to this Trust Agreement
shall not affect the nature of the Capital Securities and the Common Securities as equity securities representing undivided beneficial interests in the assets of the Issuer Trust. 
 (b) Lists of Holders of Capital Securities. (i) Each of the Depositor and the Administrators on behalf of the Trust shall provide the
Property Trustee with such information as is required under Section 312(a) of the Trust Indenture Act at the times and in the manner provided in Section 312(a) and (ii) the Property Trustee shall comply with its obligations under
Sections 310(b), 311 and 312(b) of the Trust Indenture Act. 
 (c) Reports by the Property Trustee. Within 60 days after
January 31 of each year commencing January 31, 2003, the Property Trustee shall provide to the Holders of the Trust Securities such reports as are required by Section 313 of the Trust Indenture Act, if any, in the form, in the manner
and at the times provided by Section 313 of the Trust Indenture Act. The Property Trustee shall also comply with the requirements of Section 313(d) of the Trust Indenture Act. 
 (d) Periodic Reports to Property Trustee. Each of the Depositor and the Administrators on behalf of the Issuer Trust shall provide to the Property
Trustee, the Commission and the Holders of the Trust Securities, as applicable, such documents, reports and information as may be required by Section 315(a)(1) - (3) (if any) of the Trust Indenture Act and the compliance certificates
required by Section 314(a)(4) and (c) of the Trust Indenture Act (provided that any certificate to be provided pursuant to Section 314(a)(4) of the Trust Indenture Act shall be provided within 120 days of the end of each fiscal
year of the Issuer Trust). 
 (e) Evidence of Compliance with Conditions Precedent. Each of the Depositor and the Administrators on
behalf of the Issuer Trust shall provide to the Property 

  

 - 60 - 

 
Trustee such evidence of compliance with any conditions precedent, if any, provided for in this Trust Agreement which relate to any of the matters set forth
in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given pursuant to Section 314(c) shall comply with Section 314(e) of the Trust Indenture Act. 
 (f) Disclosure Information. The disclosure of information as to the names and addresses of the Holders of Trust Securities in accordance with
Section 312 of the Trust Indenture Act, regardless of the source from which such information was derived, shall not be deemed to be a violation of any existing law or any law hereafter enacted which does not specifically refer to
Section 312 of the Trust Indenture Act, nor shall the Property Trustee be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act. 
 SECTION 10.11. Acceptance of Terms of Trust Agreement, Guarantee and Indenture. 
 THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN BY OR ON BEHALF OF A HOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR
FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST IN SUCH TRUST SECURITY OF ALL THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT, THE GUARANTEE THE INDENTURE, AND
AGREEMENT TO THE SUBORDINATION PROVISIONS AND OTHER TERMS OF THE GUARANTEE AND THE INDENTURE, AND SHALL CONSTITUTE THE AGREEMENT OF THE ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT SHALL BE BINDING,
OPERATIVE AND EFFECTIVE AS BETWEEN THE ISSUER TRUST AND SUCH HOLDER AND SUCH OTHERS. 
 * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. 
 [Signatures on Next Page] 
  

 - 61 - 

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

			
	THE PB FINANCIAL SERVICES CORPORATION,
	as Depositor
		
	By:	 	/s/ Kelly J. Johnson
	Name:	 	Kelly J. Johnson
	Title:	 	Senior Vice-President
	
	WILMINGTON TRUST COMPANY,
	as Property Trustee, and not in its individual capacity
		
	By:	 	/s/ Anita E. Dallago
	Name:	 	Anita E. Dallago
	Title:	 	Senior Financial Services Officer
	
	WILMINGTON TRUST COMPANY,
	as Delaware Trustee, and not in its individual capacity
		
	By:	 	/s/ Anita E. Dallago
	Name:	 	Anita E. Dallago
	Title:	 	Senior Financial Services Officer
	
	/s/ Kelly J. Johnson
	Name:	 	Kelly J. Johnson
	Title:	 	Administrator
	
	/s/ Monty G. Watson
	Name:	 	Monty G. Watson
	Title:	 	Administrator
	
	/s/ John Howard
	Name:	 	John Howard
	Title:	 	Administrator

  

 - 62 - 

 EXHIBIT A 
 CERTIFICATE OF TRUST 
 OF 
 PB CAPITAL TRUST I 
  

 - A-1 - 

 CERTIFICATE OF TRUST 
 OF 
 PB CAPITAL TRUST I 
 THIS Certificate of Trust of PB Capital Trust I (the “Trust”), dated as of December 12, 2002, is being duly executed and filed by the
undersigned, as trustee, to form a statutory trust under the Delaware Statutory Trust Act (12 Del. C. § 3801, et seq.) (the “Act”). 
 1. Name. The name of the statutory trust formed hereby is “PB Capital Trust I”. 
 2.
Delaware Trustee. The name and business address of the trustee of the Trust in the State of Delaware are Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attn: Corporate Trust Administration. 
 3. Effective Date. This Certificate of Trust shall be effective upon filing with the Secretary of State of the State of Delaware. 
 IN WITNESS WHEREOF, the undersigned, being the trustee of the Trust, has duly executed this Certificate of Trust in accordance with Section 3811(a)
of the Act. 
  

			
	WILMINGTON TRUST COMPANY, not in its individual capacity, but solely as trustee of the Trust
		
	By:	 	/s/ James P. Lawler
		 	 Name: James P. Lawler
 Title: Vice
President

  

 - A-2 - 

 EXHIBIT B 
 RESTRICTED SECURITIES CERTIFICATE 
 (For transfers pursuant to § 5.5(b) 

of the Trust Agreement) 
 Wilmington Trust Company,

 as Securities Registrar 
 1100 North Market Street 

Wilmington, Delaware 19890-0001 
 Attention: Corporate Trust Administration

  

	 	Re:	Floating Rate Capital Securities (“Capital Securities”) of PB Capital Trust I (the “Trust”) 

 Reference is made to the Amended and Restated Trust Agreement, dated as of December 20, 2002 (the “Trust Agreement”), among The PB
Financial Services Corporation, as Depositor, Wilmington Trust Company, as Property Trustee and as Delaware Trustee, the Administrators named therein, and the Holders (as defined therein) from time to time. Terms used herein and defined in the Trust
Agreement or in Regulation D, Rule 144A or Rule 144 under the U.S. Securities Act of 1933 (the “Securities Act”) are used herein as so defined. 
 This certificate relates to $4,000,000 aggregate Liquidation Amount of Capital Securities, which are evidenced by the following certificate(s) (the “Specified Securities”): 
 CUSIP No(s).
                                        
             
 CERTIFICATE No(s).
                                     
        
 CURRENTLY IN BOOK-ENTRY FORM:  ̈ Yes  ̈ No (check one) 
 The person in whose name this certificate is executed below (the “Undersigned”) hereby certifies that either (i) it is the sole beneficial owner of
the Specified Securities or (ii) it is acting on behalf of all the beneficial owners of the Specified Securities and is duly authorized by them to do so. Such beneficial owner or owners are referred to herein collectively as the
“Owner.” If the Specified Securities are represented by a Global Capital Securities Certificate, they are held through the Clearing Agency or a Clearing Agency Participant in the name of the Undersigned, as or on behalf of the Owner. If
the Specified Securities are not represented by a Global Capital Securities Certificate, they are registered in the name of the Undersigned, as or on behalf of the Owner. 
 The Owner has requested that the Specified Securities be transferred to a person (the “Transferee”) who will take delivery in the form of a Restricted Capital Security. In 

  

 - B-1 - 

 
connection with such transfer, the Owner hereby certifies that, unless such transfer is being effected pursuant to an effective registration statement under
the Securities Act, it is being effected in accordance with Rule 144A, Rule 904 or Rule 144 under the Securities Act or other exemption from registration under the Securities Act, and all applicable securities laws of the states of the United States
and other jurisdictions. Accordingly, the Owner hereby further certifies as follows: 
 1. Rule 144A Transfers. If the transfer is
being effected in accordance with Rule 144A: 
 (A) the Specified Securities are being transferred to a person that the Owner
and any person acting on its behalf reasonably believe is a “qualified institutional buyer” within the meaning of Rule 144A, acquiring for its own account or for the account of a qualified institutional buyer; and 
 (B) the Owner and any person acting on its behalf have taken reasonable steps to ensure that the Transferee is aware that the Owner may be
relying on Rule 144A in connection with the transfer. 
 2. Rule 904 Transfers. If the transfer is being effected in accordance with
Rule 904: 
 (A) the Owner is not a distributor of the Capital Securities, an affiliate of the Depositor or the Trust or any
such distributor or a person acting on behalf of any of the foregoing; 
 (B) the offer of the Specified Securities was not
made to a person in the United States; 
 (C) either: 
 (i) at the time the buy order was originated, the Transferee was outside the United States or the Owner and any person acting on its
behalf reasonably believed that the Transferee was outside the United States, or 
 (ii) the transaction is being executed in,
on or through the facilities of the Eurobond market, as regulated by the Association of International Bond Dealers, or another designated offshore securities market and neither the Owner nor any person acting on its behalf knows that the transaction
has been prearranged with a buyer in the United States; 
 (D) no directed selling efforts within the meaning of Rule 902 of
Regulation S have been made in the United States by or on behalf of the Owner or any affiliate thereof; and 
  

 - B-2 - 

 (E) the transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act. 
 3. Rule 144 Transfers. If the transfer is being effected pursuant to Rule 144: 
 (A) the transfer is occurring after a holding period of at least one year (computed in accordance with paragraph (d) of Rule 144 or
such shorter time as may be provided therein) has elapsed since the date the Specified Securities were acquired from the Depositor or the Trust or from an affiliate (as such term is defined in Rule 144) of the Depositor or the Trust, with the full
amount of the purchase price paid at the date of purchase, whichever is later, and is being effected in accordance with the applicable amount, manner of sale and notice requirements of paragraphs (c), (e), (f) and (h) of Rule 144; or

 (B) the transfer is occurring after a holding period of at least two years (or such shorter time as may be provided in Rule
144(k)) has elapsed since the date the Specified Securities were acquired from the Depositor or the Trust or from an affiliate (as such term is defined in Rule 144) of the Depositor or the Trust, with the full amount of the purchase price paid at
the date of purchase, whichever is later, and the Owner is not, and during the preceding three months has not been, an affiliate of the Depositor or the Trust. 
 4. Other Transfers. If the Owner seeks to make a transfer in reliance on any other exemption under the Securities Act, it shall attach hereto a letter stating the exemption relied upon and the facts under which
such exemption is available for the requested transfer, and shall attach an opinion of counsel satisfactory to the Depositor stating that such exemption is available and is being properly used. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Depositor, the Trust and the Holders. 

 

									
			
	Dated:
                                	 		 	  
		 		 		 	(Print the name of the Undersigned, as such term is defined in the second paragraph of this certificate.)
					
		 		 		 	By:	 	  
		 		 		 	Name: 	 	  
		 		 		 	Title:	 	  
				
		 		 		 	(If the Undersigned is a corporation, partnership, fiduciary or entity, the correct name of the entity, and the name and title of the person signing on behalf of the Undersigned
must be stated.)

  

 - B-3 - 

 EXHIBIT C 
 FORM OF COMMON SECURITIES CERTIFICATE 
  

 - C-1 - 

 COMMON SECURITIES CERTIFICATE 
 THIS COMMON SECURITIES CERTIFICATE 
 IS NOT TRANSFERABLE EXCEPT IN

 COMPLIANCE WITH APPLICABLE LAW AND 
 SECTION 5.11 OF THE TRUST AGREEMENT 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY APPLICABLE STATE OR OTHER JURISDICTION’S SECURITIES OR BLUE SKY LAWS, AND NO SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, ASSIGNED,
PLEDGED, HYPOTHECATED OR DISPOSED OF ABSENT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS COVERING SUCH SECURITIES OR SUCH TRANSFER IS MADE IN ACCORDANCE WITH AN AVAILABLE EXEMPTION
UNDER THE SECURITIES ACT AND ANY APPLICABLE OTHER SECURITIES OR BLUE SKY LAWS, AND THE DEPOSITOR RECEIVES AN OPINION OF COUNSEL FROM THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE DEPOSITOR STATING THAT SUCH SALE, TRANSFER,
ASSIGNMENT, PLEDGE, HYPOTHECATION, OR DISPOSITION IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH SECURITIES ACT AND ANY OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS. 
 THIS SECURITY IS NOT A DEPOSIT OR AN OBLIGATION OF A DEPOSITORY INSTITUTION, IS NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY, AND IS NOT SECURED.

  

 - C-2 - 

			
	Certificate Number	 	Aggregate Liquidation Amount
	-C-1-	 	—$124,000.00—

  
 PB Capital Trust I

 Floating Rate Common Securities 
 (Liquidation Amount — $1,000.00 per Common Security) 
 PB Capital Trust I, a statutory trust
created under the laws of the State of Delaware (the “Issuer Trust”), hereby certifies that The PB Financial Services Corporation (the “Holder”) is the registered owner of One Hundred Twenty Four (124) common
securities of the Issuer Trust representing undivided beneficial interests in the assets of the Issuer Trust and designated as the PB Capital Trust I Floating Rate Common Securities (Liquidation Amount $1,000.00 per common security) (the
“Common Securities”). Except in accordance with Section 5.11 of the Trust Agreement (as defined below), the Common Securities are not transferable and, to the fullest extent permitted by law, any attempted transfer hereof other
than in accordance therewith shall be void. The designations, rights, privileges, restrictions, preferences and other terms and provisions of the Common Securities are set forth in, and this Certificate and the Common Securities represented hereby
are issued and shall in all respects be subject to the terms and provisions of, the Amended and Restated Trust Agreement of the Issuer Trust, dated as of December 20, 2002 as the same may be amended from time to time (the “Trust
Agreement”) among The PB Financial Services Corporation, as Depositor, Wilmington Trust Company, as Property Trustee, Wilmington Trust Company, as Delaware Trustee, the Administrators named therein and the Holders of Trust Securities,
including the designation of the terms of the Common Securities as set forth therein. The Issuer Trust will furnish a copy of the Trust Agreement to the Holder without charge upon written request to the Issuer Trust at its principal place of
business or registered office. 
 Upon receipt of this Certificate, the Holder is bound by the Trust Agreement and is entitled to the
benefits thereunder. 
 Capitalized terms used but not defined herein have the meanings assigned to them in the Trust Agreement. 

 

 - C-3 - 

 IN WITNESS WHEREOF, one of the Administrators of the Issuer Trust has executed this Common Securities
Certificate this 20th day of December, 2002. 
  

			
	PB CAPITAL TRUST I
		
	By:	 	  
		 	 Name: Kelly J. Johnson
 Title:
Administrator

 AUTHENTICATED: 
  

			
	 WILMINGTON TRUST COMPANY,
 as Property
Trustee

		
	By:	 	  
		 	Authorized Signatory

  

 - C-4 - 

 EXHIBIT D 
 FORM OF CAPITAL SECURITIES CERTIFICATE 
  

 - D-1 - 

 GLOBAL CAPITAL SECURITIES CERTIFICATE 
 This Capital Securities Certificate is a Global Capital Securities Certificate within the meaning of the Trust Agreement (hereinafter referred to) and is
registered in the name of The Depository Trust Company, a New York corporation (“DTC”), or Cede & Co. as its nominee. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Trust
Agreement. 
 Unless this Capital Securities Certificate is presented by an authorized representative of DTC to PB Capital Trust I or its
agent for registration of transfer, exchange or payment, and any Capital Securities Certificate issued is registered in the name of Cede & Co. or such other name as is requested by an authorized representative of DTC (and any payment is
made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO A PERSON IS WRONGFUL inasmuch as the registered owner hereof, DTC
or Cede & Co., has an interest herein. 
 Unless and until it is exchanged in whole or in part for securities in certificated form,
this Capital Securities Certificate may not be transferred except as a whole by DTC to a nominee of DTC or by a nominee of DTC to DTC or another nominee of DTC or by DTC or any such nominee to a successor of DTC or a nominee of such successor of
DTC. 
 THE CAPITAL SECURITIES REPRESENTED HEREBY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY APPLICABLE STATE OR OTHER JURISDICTION’S SECURITIES OR BLUE SKY LAWS, AND NO SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR DISPOSED OF
ABSENT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND SUCH OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS COVERING SUCH SECURITIES OR SUCH TRANSFER IS MADE IN ACCORDANCE WITH AN AVAILABLE EXEMPTION UNDER THE SECURITIES ACT, WHICH MAY
INCLUDE EXEMPTIONS UNDER REGULATION S, RULE 144A, RULE 144 OR ANY OTHER AVAILABLE EXEMPTION UNDER THE SECURITIES ACT, AND ANY OTHER APPLICABLE SECURITIES OR BLUE SKY LAWS, AND THE DEPOSITOR RECEIVES AN OPINION OF COUNSEL FROM THE HOLDER OF THESE
SECURITIES REASONABLY SATISFACTORY TO THE DEPOSITOR STATING THAT SUCH OFFER, SALE, TRANSFER, ASSIGNMENT, PLEDGE, HYPOTHECATION, OR DISPOSITION IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH SECURITIES ACT AND ANY OTHER APPLICABLE SECURITIES OR
BLUE SKY LAWS. 
  

 - D-2 - 

 THIS SECURITY IS NOT A DEPOSIT OR AN OBLIGATION OF ANY DEPOSITORY INSTITUTION, IS NOT INSURED OR GUARANTEED BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY GOVERNMENT AGENCY, AND IS NOT SECURED. 
 THE CAPITAL SECURITIES WILL BE ISSUED AND MAY BE TRANSFERRED
ONLY IN LIQUIDATION AMOUNTS OF NOT LESS THAN $50,000.00. ANY ATTEMPTED TRANSFER OF CAPITAL SECURITIES HAVING A LIQUIDATION AMOUNT OF LESS THAN $50,000.00 SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW, BE DEEMED TO BE VOID AND OF NO EFFECT
WHATSOEVER. ANY PURPORTED TRANSFEREE OF A LESSER AMOUNT SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW, BE DEEMED NOT TO BE THE HOLDER OF SUCH CAPITAL SECURITIES FOR ANY PURPOSE, INCLUDING BUT NOT LIMITED TO THE RECEIPT OF DISTRIBUTIONS OF SUCH
CAPITAL SECURITIES, AND SUCH PURPORTED TRANSFEREE SHALL, TO THE FULLEST EXTENT PERMITTED BY LAW, BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN SUCH CAPITAL SECURITIES. 
 NO EMPLOYEE BENEFIT OR OTHER PLAN OR INDIVIDUAL RETIREMENT ACCOUNT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH, A “PLAN”), NO ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY (A “PLAN ASSET
ENTITY”), AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN, MAY ACQUIRE OR HOLD THIS CAPITAL SECURITIES CERTIFICATE OR ANY INTEREST HEREIN, UNLESS SUCH PURCHASE OR HOLDING IS COVERED BY THE EXEMPTIVE RELIEF PROVIDED BY U.S.
DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION WITH RESPECT TO SUCH PURCHASE OR HOLDING. ANY PURCHASER OR HOLDER OF THIS CAPITAL SECURITIES
CERTIFICATE OR ANY INTEREST HEREIN THAT IS A PLAN OR A PLAN ASSET ENTITY OR IS PURCHASING SUCH SECURITIES ON BEHALF OF OR WITH “PLAN ASSETS” WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING HEREOF THAT (A) THE PURCHASE
AND HOLDING OF THE CAPITAL SECURITIES IS COVERED BY THE EXEMPTIVE RELIEF PROVIDED BY PTCE 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION, (B) THE DEPOSITOR AND THE ADMINISTRATORS ARE NOT “FIDUCIARIES” WITHIN THE
MEANING OF SECTION 3(21) OF ERISA AND THE REGULATIONS THEREUNDER, WITH RESPECT TO SUCH PERSON’S INTEREST IN THE CAPITAL SECURITIES OR THE JUNIOR SUBORDINATED DEBENTURES, AND (C) IN PURCHASING THE CAPITAL SECURITIES SUCH PERSON APPROVES THE
PURCHASE OF THE JUNIOR SUBORDINATED DEBENTURES AND THE APPOINTMENT OF THE ISSUER TRUSTEES. 
  

 - D-3 - 

 IT IS EXPECTED THAT THESE EXEMPTIONS WILL NOT BE AVAILABLE WITH RESPECT TO THESE SECURITIES. ACCORDINGLY, ANY ERISA
PLANS OR OTHER PLANS SUBJECT TO ERISA SHALL NOT INVEST OR ATTEMPT TO INVEST IN THESE SECURITIES ABSENT AN OPINION OF COUNSEL TO SUCH PLAN ADDRESSED TO THE PLAN, THE PLAN SPONSOR, THE PLACEMENT AGENTS AND THE DEPOSITOR, IN FORM AND SUBSTANCE
SATISFACTORY TO ALL SUCH PERSONS, STATING THAT SUCH INVESTMENT IS PERMISSIBLE. 
  

 - D-4 - 

 Aggregate Liquidation Amount 

			
	-Certificate No. -001-	 	$4,000,000

 CUSIP No. 69317P AA 5 
 ISIN No. US69317P AA 5 
 PB Capital Trust I 
 Floating Rate Capital Securities 
 (Liquidation Amount — $50,000.00 per Capital Security) 
 PB Capital Trust I, a statutory trust created under the laws
of the State of Delaware (the “Issuer Trust”), hereby certifies that Cede & Co., as nominee of The Depository Trust Company, a New York banking corporation (the “Holder”), is the registered owner of FOUR
MILLION AND NO/100 Dollars ($4,000,000.00) Aggregate Liquidation Amount of Capital Securities of the Issuer Trust representing a preferred undivided beneficial interest in the assets of the Issuer Trust and designated as the PB Capital Trust I
Floating Rate Capital Securities and having a minimum liquidation amount of $50,000.00 per Capital Security (the “Capital Securities”). The Capital Securities are transferable only on the books and records of the Issuer Trust, in
person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer as provided in Section 5.5 of the Trust Agreement (as defined below). The designations, rights, privileges, restrictions,
preferences and other terms and provisions of the Capital Securities are set forth in, and this Certificate and the Capital Securities represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Amended and
Restated Trust Agreement of the Issuer Trust, dated as of December 20, 2002, as the same may be amended from time to time (the “Trust Agreement”), among The PB Financial Services Corporation, as Depositor, Wilmington Trust
Company, as Property Trustee, Wilmington Trust Company, as Delaware Trustee, the Administrators named therein and the Holders of Trust Securities, including the designation of the terms of the Capital Securities as set forth therein. The Holder is
entitled to the benefits of the Guarantee Agreement entered into by The PB Financial Services Corporation, as Guarantor, and Wilmington Trust Company, as Guarantee Trustee, dated as of December 20, 2002, as the same may be amended from time to
time (the “Guarantee Agreement”), to the extent provided therein. The Issuer Trust will furnish a copy of the Trust Agreement and the Guarantee Agreement to the Holder without charge upon written request to the Issuer Trust by
contacting the Issuer Trustees. 
 Upon receipt of this certificate, the Holder is bound by the Trust Agreement and is entitled to the
benefits thereunder. 
  

 - D-5 - 

 Capitalized terms used but not defined herein have the meanings assigned to them in the Trust Agreement.

 IN WITNESS WHEREOF, one of the Administrators of the Issuer Trust has executed this certificate this 20th day of December, 2002.

  
  

			
	PB CAPITAL TRUST I
		
	By:	 	   
		 	 Name: Kelly J. Johnson
 Title:
Administrator

  
 AUTHENTICATED: 
 WILMINGTON TRUST COMPANY, 
 as Property Trustee 
  

			
		
	By:	 	   
		 	Authorized Signatory

 Date: December 20, 2002 
  

 - D-6 - 

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Capital Security to: 
  
  

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

  
  

 (Insert address and zip code of assignee) 
  
  

			
	and irrevocably appoints	  	  

  
  

 agent to transfer this Capital Securities Certificate on the books of the Issuer Trust. The agent may substitute another to act for him or her. 
 Date: _______________________________ 
 Signature:
__________________________________________________ 
 (Sign exactly as your name appears on the other side of 
 this Capital Securities Certificate) 
 The signature(s) should
be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to S.E.C. Rule 17Ad-15. 

 - D-7 - 

 EXHIBIT E 
 FORM OF PLACEMENT AGREEMENT 
  

 - E-1 - 

 PB Capital Trust I 
 Up to $4,000,000 of Floating Rate Capital Securities 
 Fully and Unconditionally Guaranteed as to
Distributions 
 and Other Payments by 
 The PB Financial Services Corporation 
  

 PLACEMENT AGREEMENT 
  

 December 13, 2002 
 The Bankers Bank 
 BankersBanc Capital Corporation 
 2410 Paces Ferry Road 
 600 Paces Summit 
 Atlanta, Georgia 30339-4098 
 Ladies and Gentlemen: 
 The PB Financial Services Corporation
(the “Company”) is forming a Delaware statutory trust (the “Issuer Trust”) to issue securities for the benefit of the Company. The Company and the Issuer Trust (collectively, the “Offerors”),
propose, upon and subject to the terms and conditions stated herein, to offer, issue and sell (the “Offering”), pursuant to exemptions from registration under Section 4(2) of the Securities Act of 1933, as amended (the
“Securities Act”), Securities and Exchange Commission (the “Commission”) Rule 506 under the Securities Act (“Rule 506”), Commission Rule 144A under the Securities Act (“Rule 144A”),
and/or Commission Regulation S under the Securities Act (“Regulation S”), up to the amount of floating rate capital securities issued by the Issuer Trust shown above (together with the related Guarantee thereof, the “Capital
Securities”). The Company will purchase all common securities to be issued by the Issuer Trust (the “Common Securities”, and collectively with the Capital Securities, the “Trust Securities”). 
 We hereby request you to act as the exclusive agents of the Company and the Issuer Trust (each, a “Placement Agent”), upon the terms and
conditions of this Placement Agreement (this “Agreement”), to solicit purchasers (“Purchasers”) of the Capital Securities, in minimum stated Liquidation Amounts of $50,000.00 and integral multiples of $50,000.00 in
excess thereof with a minimum purchase of $100,000.00. 
 The Trust Securities will be issued by the Issuer Trust pursuant to an Amended and
Restated Trust Agreement in form and substance acceptable to the Placement Agent (the “Trust Agreement”) by and among the Company, as depositor (the “Depositor”), the Administrator(s) named therein (the
“Administrators”), Wilmington Trust Company, as the property trustee (the “Property Trustee”) and as the Delaware trustee (the “Delaware Trustee”, and collectively with 

  

 - E-2 - 

 
the Property Trustee, the “Issuer Trustees”). The Capital Securities will be fully and unconditionally guaranteed on a subordinated basis by
the Company with respect to distributions and amounts payable upon liquidation, redemption, repayment or otherwise (the “Guarantee”) pursuant to the Guarantee Agreement (the “Guarantee Agreement”) between the
Company and Wilmington Trust Company, as trustee (the “Guarantee Trustee”), for the benefit of the holders (the “Holders”) of the Capital Securities. 
 All proceeds from (i) the sale of the Capital Securities in the Offering and (ii) the
sale by the Issuer Trust to the Company of its Common Securities, will be used by the Issuer Trust to purchase junior subordinated debentures issued by the Company and due on the last business day preceding the first scheduled Payment Date after the
thirtieth (30th) anniversary of the Securities original issuance date (the “Junior Subordinated
Debentures”). The Junior Subordinated Debentures will have an aggregate principal amount equal to the aggregate Liquidation Amount of the Trust Securities, and will be issued pursuant to the Junior Subordinated Indenture (the
“Indenture”), by and between the Company and Wilmington Trust Company, as trustee (the “Indenture Trustee”). 
 The Capital Securities, the Common Securities, the Guarantee and the Junior Subordinated Debentures are collectively referred to herein as the “Securities.” This Agreement, the Trust Agreement, the Indenture, the Guarantee
Agreement and the Securities are referred to collectively as the “Operative Documents.” The Operative Documents, together with all other documents, instruments and agreements pertaining to the transactions (the
“Transactions”) contemplated in the Operative Documents are called the “Transaction Documents.” 
 The
Placement Agent previously has delivered a summary term sheet (the “Term Sheet”), which contained a preliminary indication of the principal terms the Placement Agent believed reasonably achievable in the market on the date of such
Term Sheet, subject to changes in market conditions, investor demands and other factors. This Agreement supersedes and replaces the Term Sheet in its entirety. The final terms and conditions of the Capital Securities shall be subject to the mutual
agreement of the Company, the Issuer Trust, the Placement Agent and the Purchasers, and the Placement Agent makes no representation or warranty as to the rates, spreads or other terms that may actually be achieved with respect to the Capital
Securities. 
 The Offerors will prepare and deliver to the Placement Agent a confidential Offering Memorandum and a reasonable number of
copies thereof for use by the Placement Agent in connection with the Offering of the Capital Securities. As used herein, the term “Offering Memorandum” means, with respect to any date or time referred to in this Agreement, the most
recent offering memorandum, as amended or supplemented, including exhibits thereto and any documents incorporated therein by reference which has been prepared and delivered by the Offerors to the Placement Agent in connection with the Offering.

 Capitalized terms used but not defined herein have the respective meanings specified in the Trust Agreement. All references in this
Agreement to financial statements, schedules and other information which are “contained,” “included,” “disclosed”, “described in” or “stated” in the Offering Memorandum (or other similar references)
shall be deemed to mean and include all such financial statements and schedules and other information which are included and/or incorporated by reference in the Offering Memorandum; and all references in this Agreement to amendments or supplements
to the Offering Memorandum shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934, as amended (the “1934 Act”) or the Securities Act, which document is incorporated or deemed to be
incorporated by reference in the Offering Memorandum. All references to “Regulation D” shall mean 

  

 - E-3 - 

 
Commission Rules 501 through 508 under the Securities Act. For purposes hereof, the singular shall include the plural and vice versa, and the words
“include”, “including”, “included”, and derivations thereof shall mean without limitation by reason of enumeration or otherwise. 
 Certain terms of this Agreement are provided in Exhibit 1. 
 In consideration of the premises, the mutual
agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party, the parties, intending to be legally bound, agree as follows: 
 1. Offering and Sale of Capital Securities. 
 (a) On the terms and subject to the conditions of this Agreement, the Issuer Trust and the Company hereby confirm the Placement Agent’s appointment as the Company’s exclusive agent during the offering period
specified in this section (the “Offering Period”) to solicit Purchasers to purchase Capital Securities from the Issuer Trust through the Offering. The Offering Period will commence on a date mutually acceptable to the Company, the
Issuer Trust and the Placement Agent and will end at 5:00 P.M., Eastern Time, on the earliest of the Closing Date (as defined in Section 2 below), the last Subsequent Closing Date (as defined in Section 2 below), if any, or the
Offering termination date (the “Offering Termination Date”) specified in Exhibit 1 hereto, unless earlier terminated, or extended by our mutual agreement to a later date. Subject to the performance by the Offerors of all
their obligations hereunder, and in reliance upon the completeness and accuracy of each of the Offerors’ representations, warranties and covenants, the Placement Agent hereby accepts such agency upon the terms and conditions of this Agreement.
Each of the Offerors acknowledges and agrees that it has made its own independent investigation of the desirability to the Offerors of offering and selling the Securities in the Offering and that it has not relied upon the Placement Agent in making
such decisions. 
 (b) The Placement Agent shall use its reasonable commercial efforts, subject to the terms and conditions of this
Agreement, to solicit Purchasers of the Capital Securities. The Placement Agent, in fulfilling its obligations hereunder, may engage brokers, dealers, or other third parties to solicit Purchasers of the Capital Securities or to refer potential
Purchasers of the Capital Securities. The Placement Agent may enter into agreements with, and pay fees to, such third parties as the Placement Agent deems appropriate in connection with such activities. The Placement Agent shall not, either directly
or indirectly, in fulfilling its obligations hereunder, act as an underwriter for the Capital Securities and is in no way obligated or committed, directly or indirectly, to advance its own funds to purchase any Capital Securities or to purchase or
to assure the purchase of any Capital Securities; provided, however, that nothing herein shall preclude the Placement Agent from purchasing and reselling the Capital Securities using the Offering Memorandum or other information provided
thereunder or hereunder by the Offerors and in reliance upon Rule 144A, Regulation S, Commission Rule 144 under the Securities Act (“Rule 144”) or other available exemptions under the Securities Act, in the Placement Agent’s
sole discretion. In making any such purchases or resales, the Placement Agent will rely upon the Offerors’ representations, warranties, covenants and agreements provided herein and in any officer’s certificates provided by or on behalf of
the Offerors. 
 (c) The Placement Agent’s agency under this Agreement is coupled with an interest, and therefore is not terminable by
the Company or the Issuer Trust without the 

  

 - E-4 - 

 
Placement Agent’s prior express written consent, except as expressly provided in Section 9(b) hereof. Unless sooner terminated in accordance with
Section 9 hereof, the Placement Agent’s agency under this Agreement will continue until the termination of the Offering or the Closing Date, or if applicable, the last Subsequent Closing Date. 
 (d) The Company shall pay the Placement Agent for its services as Placement Agent hereunder the percentage of the aggregate stated liquidation amount of
Capital Securities sold in the Offering (the “Placement Agent Fee”) specified in Exhibit 1 hereto. 
 2.
Closing; Delivery and Payment. 
 (a) If the conditions described in Section 6 hereof have been satisfied or waived, the
initial closing of the Offering (the “Closing”) will be held at the offices of Alston & Bird LLP, One Atlantic Center, 1201 W. Peachtree Street, Atlanta, Georgia 30309-3424 or such other place as is agreed upon by the
Placement Agent, the Company and the Issuer Trust as soon as practicable thereafter. The date on which the initial Closing is held shall be referred to herein as the “Closing Date.” The Company and Placement Agent may agree in
writing to close the sale of some but not all Securities offered at the Closing, to continue the Offering as to the unsold Securities, if any, and if additional Securities are thereafter sold to conduct one or more subsequent closings (each, a
“Subsequent Closing”) on one or more subsequent dates (each, a “Subsequent Closing Date”). Each Subsequent Closing and Subsequent Closing Date shall be identified by a sequential number, and will be held at the
offices of Alston & Bird LLP, One Atlantic Center, 1201 W. Peachtree Street, Atlanta, Georgia 30309-3424, or such other places as mutually agreed upon by the Placement Agent, the Company and the Issuer Trust, upon not less than three
business days’ prior notice, subject to the terms and conditions hereof, the Company’s reaffirmation of all its representations, warranties and covenants herein and the delivery of all legal and other opinions required hereunder. Not less
than two full business days prior to the Closing and each Subsequent Closing, Capital Securities in definitive form and in authorized denominations shall be made available by or on behalf of the Company and the Issuer Trust to the Placement Agent
and the Property Trustee for inspection, checking and delivery to The Depository Trust Company (“DTC”) or its custodian. As part of the Closing and each Subsequent Closing, the Company will pay the Placement Agent Fee and those
expenses theretofore actually incurred as provided in Sections 1(d), 6 and 8. The time and date for the delivery of the certificates representing the Capital Securities sold at the Closing Date and each Subsequent Closing Date shall be sequentially
numbered as a “Time of Delivery.” 
 3. Offeror Representations, Warranties and Covenants. The Company and the
Issuer Trust, jointly and severally, represent and warrant to, and agree with the Placement Agent that: 
 (a) Neither the Company nor the
Issuer Trust, nor any of their Affiliates, nor any person acting on its or their behalf has directly or indirectly (i) engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with
any offer or sale of any of the Securities, or (ii) made offers or sales of any security, or solicited offers to buy or sell any security, under circumstances that would require the registration of any of the Securities under the Securities Act
or the securities or blue sky laws of any applicable jurisdiction. 
 (b) Neither the Company nor the Issuer Trust, nor any of their
Affiliates, nor any person acting on its or their behalf, has engaged or will engage in any directed selling efforts with respect to the Securities within the meaning of Regulation S. 
  

 - E-5 - 

 (c) Neither the Company nor the Issuer Trust is, or upon the issuance and sale of the Securities and the
application of the proceeds thereof will be, an “investment company” or an entity “controlled” by an “investment company,” in each case within the meaning of Section 3(a) of the Investment
Company Act of 1940, as amended (the “Investment Company Act”) without regard to Section 3(c) of the Investment Company Act. 
 (d) None of the Company, any of its “Subsidiaries” (as defined in Commission Regulation S-X, Rule 1-02(x)) nor the Issuer Trust has any arrangement, understanding or agreement to have any person (other than the Placement
Agent as provided herein) to solicit offers to purchase, to make any offers to sell, or to sell or purchase any of the Securities. 
 (e) The
Company is a corporation duly organized, validly existing and in good standing under the laws of its state of organization and has the full corporate power and authority to own, lease and operate its properties, to own its subsidiaries, and to
conduct its business as described in the Offering Memorandum and to enter into and perform its obligations under this Agreement and the other Transaction Documents; the Company has been duly approved and is registered with the Board of Governors of
the Federal Reserve System (the “Federal Reserve”) as a financial holding company or bank holding company under the Bank Holding Company Act of 1956, as amended, (the “BHC Act”), and with all other federal and state
regulatory authorities that require registration or approval of the Company as a holding company (“Other Banking Approvals”). The Company has all necessary authorizations, approvals, registrations, orders, licenses, certificates,
consents and permits (collectively, “Approvals”), and is duly qualified to transact business as a holding company that owns or controls depository institutions and as a foreign corporation and is in good standing in each
jurisdiction where it owns or leases property or transacts business, and where such qualification is necessary, except to the extent that the failure to have such Approvals, to so qualify or to be in good standing has not had and is not reasonably
likely to have a Material Adverse Effect. A “Material Adverse Effect” means any event, action, omission or condition that: (i) has had or is reasonably likely to have a material adverse effect on the condition (financial or
otherwise), earnings, cash flows, business or prospects of the Company and its Subsidiaries considered as one enterprise and whether or not arising in the ordinary course of business, (ii) has had or is reasonably likely to have a material
adverse effect on the Issuer Trust, the rights of Holders of the Capital Securities or the consummation or performance of the Transactions, (iii) raises the question of the validity or enforceability of any Transaction Document, or
(iv) seeks to restrain, enjoin, limit or prohibit the execution, delivery or performance of any of the Transaction Documents or any of the Transactions. The Company’s capitalization is as set forth in the Offering Memorandum, all of the
outstanding shares of capital stock of the Company (“Company Shares”) have been duly authorized and validly issued and are fully paid and non-assessable, and none of the outstanding Company Shares was issued in violation of any
preemptive or similar rights of any shareholder of the Company. 
 (f) Attached as Schedule 1 is a list of all the Company’s
direct and indirect Subsidiaries. Each Subsidiary that is a “bank” or “savings association” (each, for purposes hereof, a “Bank”), as defined in Sections 3(a) or 3(b) respectively, of the Federal Deposit
Insurance Act, as amended (the “FDIA”) has been duly incorporated and is validly existing as a state chartered commercial bank, or as a national bank or federal thrift organized and validly existing under the laws of the United
States and is a member in good standing of the Federal Deposit Insurance Corporation (“FDIC”) and of the Federal Reserve System (if shown on Schedule 1); each Subsidiary has been duly organized and is validly existing under
the laws of its 

  

 - E-6 - 

 
jurisdiction of organization; each Subsidiary has all corporate or entity power and authority and Approvals necessary to own, lease and operate its
properties and to conduct its business as presently operated, and is duly qualified as a foreign entity to transact business and is in good standing in each jurisdiction in which such qualification is required, except where the failure to so qualify
or to be in good standing would not have a Material Adverse Effect. All of the issued and outstanding shares of capital stock of each Subsidiary have been duly authorized and validly issued, are fully paid and non-assessable, except, in the case of
Bank Subsidiaries to the extent such shares are assessable under the applicable banking laws of the jurisdiction where each Bank Subsidiary is organized, and are owned by the Company, directly or indirectly, free and clear of any security interest,
mortgage, pledge, lien, hypothecation, negative pledge, charge, encumbrance, adverse claim or equity (each a “Lien”), except (i) an existing Lien that will be released upon the first Closing when the related loan will be paid
in full by the Company, and (ii) a Lien to secure a loan or line of credit from The Bankers Bank, Atlanta, Georgia to the Company, as described in the Offering Memorandum or contained in any Transaction Document. None of the outstanding shares
of capital stock of any Subsidiary was issued in violation of any preemptive or similar rights of any Subsidiary arising by operation of law, under their respective charters, articles or certificate of incorporation or organizational documents,
by-laws, or other organizational or constituent documents (“Organizational Documents”), or under any contract to which the Company or any Subsidiary is a party. Neither the Company nor any of its Subsidiaries beneficially owns any
shares of stock or any other equity securities of or interest in any entity, except (i) securities or interests held in the ordinary course of business, and (ii) as described in the Offering Memorandum. 
 (g) The Company and its Subsidiaries operate and are in compliance with all applicable laws, ordinances, rules and regulations of, and all commitments
to, all judgments, orders, rulings and decrees of and agreements with (collectively, “Laws”), all applicable governmental, regulatory and self-regulatory agencies (including any securities exchange or market where any of the
Company’s or any Subsidiary’s securities are listed or traded), courts, arbitrators, bodies and authorities (“Governmental Authorities”) and all Approvals, except for those violations of which, individually or in the
aggregate, would not have a Material Adverse Effect. 
 (h) The Issuer Trust has been, or within 5 business days of the date hereof will be,
duly created, and at the Closing Date and each Subsequent Closing Date, if any, and at all times thereafter, will be duly created, validly existing and in good standing as a statutory trust under, and will be in compliance with the Delaware
Statutory Trust Act, 12 Del. C. 3801, et seq. (the “Statutory Trust Act”), with full power and authority to (i) own its properties and to conduct the business it transacts and proposes to transact as contemplated in the
Transaction Documents or described in the Offering Memorandum, and (ii) execute, deliver and perform its obligations under the Transaction Documents to which it is a party. The Issuer Trust is, or will be, at the Closing Date and each
Subsequent Closing Date, if any, and at all times thereafter, duly qualified to transact business as a foreign entity in good standing in each jurisdiction in which such qualification is necessary, except where the failure to so qualify or be in
good standing would not have a material adverse effect on such Issuer Trust, or the rights of Holders of Capital Securities, or cause or result in a Material Adverse Effect. The Issuer Trust is not, and will not be, a party to or otherwise bound by
any agreement other than the Transaction Documents to which it is a party. The Issuer Trust is and will be, under current law, classified for United States federal income tax purposes as a grantor trust and not as an association or other entity
taxable as a corporation. The Issuer Trust does not have any Subsidiaries; the Company has been advised by its independent accountants that the Issuer Trust is and will be treated as a consolidated Subsidiary of the Company pursuant to generally
accepted accounting principles consistently 

  

 - E-7 - 

 
applied (“GAAP”), as in effect on the date of this Agreement and on each Closing Date and Subsequent Closing Date, and that no proposals
existing on any such date are reasonably likely to change that treatment. The Offeror will include the Trust Securities as part of its long term debt on its financial statements in accordance with GAAP. 
 (i) This Agreement and each of the Transaction Documents have been duly authorized by the Company and the Issuer Trust, and, on or before the Closing
Date, when executed and delivered by or on behalf of the Company, the Issuer Trust, the Issuer Trustees and the Guarantee Trustee will be a valid and binding obligation of the Company and the Issuer Trust, enforceable against each of them in
accordance with their respective terms, subject to applicable bankruptcy, insolvency, receivership, conservatorship, reorganization or similar laws affecting creditors’ rights generally and to general principles of equity and to limitations on
the rights to indemnity and contribution that exist by virtue of public policy (the “Bankruptcy and Equity Exception”). Each of the Administrators of the Issuer Trust is a duly authorized director, officer or employee of the Company
or its Subsidiaries and has been duly authorized by the Company and the Issuer Trust to execute and deliver the Trust Agreement and other Transaction Documents. 
 (j) The Trust Securities have been duly authorized by the Trust Agreement and the Guarantee Agreement and, when executed, authenticated, issued and delivered against payment therefor to the Purchasers, in the case of
the Capital Securities, and to the Company, in the case of the Common Securities, will be validly issued, fully paid and nonassessable (except, in the case of the Common Securities, for the obligations of the Company with respect to certain expenses
and obligations of the Issuer Trust specified in the Operative Documents), and will represent undivided beneficial interests in the assets of the Issuer Trust and will be entitled to the benefits of the Trust Agreement and the Guarantee Agreement.
None of the Trust Securities is subject to preemptive or any similar rights. On the Closing Date and on each Subsequent Closing Date, all of the issued and outstanding Common Securities will be owned directly by the Company free and clear of any
Lien. 
 (k) The Junior Subordinated Debentures and the Guarantee Agreement have been duly authorized by the Company. At the Closing Date and
on each Subsequent Closing Date, if any, the Junior Subordinated Debentures will have been duly executed and delivered by the Company for authentication in accordance with the Indenture, and, when authenticated in the manner provided for in the
Indenture and delivered against payment therefor by the Issuer Trust, will constitute valid and binding obligations of the Company entitled to the benefits of the Indenture and enforceable against the Company in accordance with their terms, subject
to the Bankruptcy and Equity Exception. The Junior Subordinated Debentures will be in the form contemplated by, and entitled to the benefits of, the Indenture. 
 (l) The execution, delivery and performance of the Transaction Documents to which the Company, the Issuer Trust, the Issuer Trustees, the Guarantee Trustee, the Indenture Trustee and the Administrators are parties,
and the consummation of the Transactions, (i) have been duly authorized by the Company or the Issuer Trust, as applicable, (ii) do not require any consent or Approval under, do not and will not conflict with, constitute a breach of, or a
default or an event, which with notice, lapse of time or both would be a default under, an event or condition that gives any person the right to require the repurchase, redemption or repayment of all or a portion of any note, debenture or other
indebtedness of the Company or any Subsidiary (each a “Repayment Event”),(iii) will not result in the creation or imposition of any Lien upon any property or assets of the Issuer Trust, the Company or any of its Subsidiaries, under
any contract, indenture, mortgage, loan agreement, note, lease or other agreement or instrument (“Contract”) to 

  

 - E-8 - 

 
which the Issuer Trust, the Company or any of its Subsidiaries is a party or by which it or any of them may be bound, or to which any of the property or
assets of any of them is subject, except for a conflict, breach, default or Lien which does not have and is not reasonably likely to have, individually or in the aggregate, a Material Adverse Effect, nor will any such action result in any violation
of the Trust Agreement, the Statutory Trust Act or any other applicable Law or Approval. 
 (m) (i) Each of the audited consolidated
financial statements, including the notes and schedules thereto, of the Company and its consolidated Subsidiaries (and where the Company has been formed within the last five years, of its predecessors and their respective consolidated Subsidiaries)
as of and for the last full five years (the “Annual Financial Statements”) and the interim unaudited consolidated financial statements of the Company and its consolidated subsidiaries as of and for the latest interim periods and the
corresponding interim periods of the immediately preceding year (the “Interim Financial Statements”, and collectively with the Annual Financial Statements, the “Financial Statements”) provided to the Placement Agent
or included in the Offering Memorandum or from which information is included in the Offering Memorandum, has been prepared in accordance with GAAP, Section 36 of the Federal Deposit Insurance Act, as amended (the “FDI Act”) and
applicable regulation thereunder, and to the extent the Company files reports under Sections 13 or 15(d) of the 1934 Act, to the 1934 Act and the Commission’s rules and regulations thereunder, including Regulation S-X. Such Financial Statements
conform, to the extent the Company files reports under Section 13 or 15(d) of the 1934 Act, to the requirements of the 1934 Act and all applicable Commission rules and regulations, and in all cases fairly present in all material respects the
consolidated and parent-only financial condition, earnings, cash flows and changes in shareholders’ equity as of the dates and for the periods therein specified, subject, in the case of Interim Financial Statements, only to normal recurring
year-end audit adjustments that are not material, and each has been certified as required by applicable Law. The summary and selected financial and statistical data included in the Offering Memorandum present fairly the information shown therein and
have been compiled on a basis consistent with the Financial Statements. The Company has a duly constituted audit committee of its Board of Directors (the “Audit Committee”), all of whose members are “independent” in
accordance with applicable Law, including FDI Act Section 36, and applicable regulations thereunder. Such Audit Committee has operated consistent in all material respects with the requirements of the Securities Act, the BHC Act and any
applicable state and federal banking and other Laws, and, to the extent that the Company files reports under the 1934 Act or has a class of securities listed or traded on any securities exchange or Nasdaq market, the 1934 Act, the Commission’s
rules and regulations, and the applicable rules of such exchange or Nasdaq. The Company’s independent accountants have reviewed each Interim Financial Statement in accordance with the applicable requirements of the Securities Act, the BHC Act,
state and federal banking and other Laws, the 1934 Act, the Audit Committee’s charter, the Commission’s rules and regulations and the applicable rules of Nasdaq or any securities exchange on which the Company has securities listed or
traded. 
 (ii) All the Company’s reports to the Federal Reserve, including those on Form FRY-9 (and its various subdesignations) and
the various schedules and subreports thereunder, for the last full five years and any interim periods (the “FRB Reports”), conform in all material respects to the Federal Reserve’s requirements for such reports, and all of the
Subsidiaries’ call reports (“Call Reports”) submitted to its primary federal and state regulators conform in all material respects to the Federal Financial Institutions Examination Council’s (“FFIEC”)
requirements for Call Reports, and all such FRB Reports and Call Reports conform to the requirements of Section 37 of the FDI Act and applicable regulation thereunder, and are accurate and complete in all material respects and fairly present in
all material respects and fairly 

  

 - E-9 - 

 
present in all material respects the reporting entity’s financial condition, earnings, cash flows (to the extent a statement of cash flows is included
pursuant to the requirements of such forms) and changes in shareholders’ equity as of the dates and for the periods shown consistent with the Financial Statements as of and for the corresponding dates and periods. 
 (n) If required by the BHC Act or applicable state and federal banking, securities and other Laws, each of the accountants who certified or reviewed the
Financial Statements and Interim Financial Statements are “independent public accountants.”. 
 (o) Other than as disclosed in the
Offering Memorandum, there are no investigations, actions or proceedings by or before any Governmental Authority pending, or, to the best knowledge of the Company, threatened against or affecting the Company, any of its Subsidiaries or the Issuer
Trust, that have had or are reasonably likely to have, individually or in the aggregate, a Material Adverse Effect. 
 (p) Since the
respective dates as of which information is included in the Offering Memorandum, including any Financial Statements and Interim Financial Statements, except as otherwise stated therein or referred to therein, there has not been (i) any event,
action, omission or condition that has had a Material Adverse Effect, (ii) any transactions entered into by the Issuer Trust, the Company or any Subsidiary, other than in the ordinary course of business, that are material to (A) the Issuer
Trust or (B) the Company and its Subsidiaries considered as one enterprise, (iii) except for regular quarterly cash dividends on the Company’s common stock in the ordinary course of business consistent with past practice, any dividend
or distribution of any kind declared, paid or made by the Company on its capital stock or by the Issuer Trust on Trust securities, nor (iv) any other event, action, omission or condition that is reasonably likely to have a Material Adverse
Effect. 
 (q) The Company and its Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance
that (i) transactions are executed in accordance with management’s general and specific authorizations; (ii) transactions are recorded as necessary to permit the preparation of financial statements in conformity with GAAP and to
maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorizations; (iv) the recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any differences, and (v) otherwise complies with all applicable federal and state banking, securities and other applicable Laws, including the Foreign Corrupt Practices Act,
the Sarbanes-Oxley Act of 2002, and the Commission’s rules and regulations thereunder. 
 (r) The Company and its Subsidiaries have
filed all federal, state, local and foreign tax returns that are required to be filed or have duly requested extensions thereof and have paid all taxes required to be paid by any of them and any related assessments, fines or penalties, except for
any such tax, assessment, fine or penalty that is being contested in good faith and by appropriate proceedings; and adequate charges, accruals and reserves have been provided for in the Financial Statements in respect of all federal, state, local
and foreign taxes, including for all periods and amounts as to which the tax liability of the Company or its Subsidiaries is being contested, has not been finally determined or remains open to examination by applicable taxing authorities and where
such taxes have not become due and payable. 
 (s) None of the Company, any of its Subsidiaries nor the Issuer Trust is in violation of its
respective Organizational Documents, or in default (including any condition or occurrence of any event that with notice, the lapse of time or both, would be a default) in the 

  

 - E-10 - 

 
performance or observance of any obligation, agreement, covenant or condition contained in any Contract, to which any of them is a party or by which it or
any of them may be bound or to which any of the property or assets of any of them is subject, which violation or default would, have a Material Adverse Effect, a material adverse effect on the Issuer Trust or that would adversely affect the
Transactions. 
 (t) No filing with, or Approval of any Governmental Authority, other than those that have been made or obtained and which
remain in full force and effect, is necessary or required for the formation of the Issuer Trust, or the performance by the Company or the Issuer Trust of their obligations hereunder, in connection with the issuance and sale of the Securities or the
consummation of the Transactions. The Company has given written notice to the Federal Reserve and the other Governmental Authorities having jurisdiction over the Company and the Transactions, of its intent to engage in the Transactions, and neither
the Federal Reserve nor any other applicable Governmental Authority has expressed any objection to the Offering, and the Federal Reserve will have confirmed in writing by the Closing that at the time of issuance, the Capital Securities will be Tier
1 Capital under the Federal Reserve’s capital adequacy guidelines and rules. The Company has no reason to believe that the Capital Securities will not be treated as Tier 1 Capital. The Company shall confirm such matters in an officers’
certificate delivered to the Placement Agent at the Closing and each Subsequent Closing, if any. 
 (u) To the Company’s knowledge, no
labor problem exists with employees of the Company or any of its Subsidiaries or is imminent that has had or is reasonably likely to have a Material Adverse Effect, and the Company is not aware of any existing or imminent labor disturbance by the
employees of any of the Company’s or its Subsidiaries’ principal suppliers, contractors or customers that has had is reasonably likely to have a Material Adverse Effect. 
 (v) The Company and its Subsidiaries carry, or are entitled to the benefits of, insurance from insurers of recognized financial standing in such amounts
and covering such risks as is generally maintained by companies of established repute engaged in the same or similar businesses as the Company and its Subsidiaries, and all such insurance is in full force and effect, and the Company has not received
or given any notice of cancellation, nonrenewal or material increase in the cost of such insurance. 
 (w) The Company and its Subsidiaries
each owns or possesses, or can readily acquire on reasonable terms, patents, patent licenses, trademarks, service marks and trade names necessary to carry on their businesses as presently conducted, and neither the Company nor any of its
Subsidiaries has received any notice of infringement of or conflict with asserted rights of others with respect to any patents, patent licenses, trademarks, service marks or trade names that, in the aggregate, if the subject of an unfavorable
decision, ruling or finding, has had or is reasonably likely to have a Material Adverse Effect. 
 (x) The Company and its Subsidiaries each
has good and marketable title to all its respective properties and assets, free and clear of all Liens, except as (i) are described in the Offering Memorandum, or (ii) are neither material in amount nor materially significant in relation
to the business of the Company and its Subsidiaries, considered as one enterprise. All of the Contracts material to the business of the Company and its Subsidiaries considered as one enterprise, and under which the Company or any of its Subsidiaries
holds properties or assets, are in full force and effect, and neither the Company nor any of its Subsidiaries has any notice of any material claim that has been asserted by anyone adverse to the rights of the Company or such Subsidiary under any
such Contracts, or affecting or questioning the rights of such entities to the continued possession of the leased or subleased premises or other assets under any such Contract. 
  

 - E-11 - 

 (y) Other than such agreements, instruments and other documents that are described in the Offering
Memorandum or that are filed as Exhibits to the Company’s periodic reports filed by the Company with the Commission pursuant to the 1934 Act or by any predecessor bank with its primary federal banking regulator pursuant to 1934 Act,
Section 12(i) and that are included in the Offering Memorandum, there are no agreements, contracts or documents of a character described in Item 601 of Regulation S-K under the Securities Act to which the Company or any of its Subsidiaries
is a party or to which any of them or any of their assets are subject or bound. 
 (z) The Company and its Subsidiaries and other affiliates
have not taken and will not take, directly or indirectly, any action designed to, or that might be reasonably expected to, cause or result in stabilization or manipulation of the price, of the Capital Securities. 
 (aa) The Capital Securities are eligible for resale pursuant to Rule 144A and will not be, at the Closing Date or any Subsequent Closing Date, of the
same class as securities listed on a national securities exchange registered under Section 6 of the 1934 Act, or quoted in a U.S. automated interdealer quotation system. 
 (bb) The Offering Memorandum does not, and through the Closing Date and the last Subsequent Closing Date, if any, will not, include an untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements included or incorporated therein, in the light of the circumstances under which they were made, not misleading; provided that this representation,
warranty and agreement shall not apply to statements in or omissions from the Offering Memorandum made in reliance upon and in conformity with information furnished to the Offerors in writing by or on behalf of the Placement Agent expressly for use
in the Offering Memorandum, and which information consists solely of paragraphs one through four and the last paragraph under the caption “Plan of Offering” in the Offering Memorandum. 
 (cc) All documents and information incorporated, or deemed to be incorporated, by reference in the Offering Memorandum, including the Exhibits, conform
in all material respects to the applicable requirements of the Securities Act, the 1934 Act (and the Commissions’s rules, regulations and forms to the extent applicable), and other applicable federal and state banking and other Laws, and if the
Company has been formed or has acquired any Subsidiaries that had a class of securities registered under Section 12(i) of the 1934 Act within the last five full calendar years, the rules, regulations and forms of such predecessor’s primary
federal bank regulators, and at the date of the Offering Memorandum, do not and will not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading. 
 (dd) Subject to compliance by the Placement Agent with the
procedures set forth in Section 4 hereof, it is not necessary in connection with the offer, sale and delivery of the Capital Securities in the manner contemplated by this Agreement and the Offering Memorandum to register the Capital Securities
under the Securities Act or to qualify the Trust Agreement, the Guarantee Agreement or the Indenture, or the Property Trustee, the Delaware Trustee, the Guarantee Trustee or the Indenture Trustee under the Trust Indenture Act of 1939, as amended
(the “Trust Indenture Act”). 
 (ee) Any certificate signed by any officer or director of the Company or any Administrator
or Trustee on behalf of the Issuer Trust and delivered to the Placement Agent or to 

  

 - E-12 - 

 
counsel for the Placement Agent shall be deemed a representation, warranty and covenant by the Company or the Issuer Trust, respectively, to the Placement
Agent as to the matters covered thereby. All representations, warranties, and covenants made by or on behalf of the Company or the Issuer Trust in the Operative Documents are hereby made to the Placement Agent and incorporated herein by reference as
if set forth fully herein. 
 (ff) Offers and sales of capital stock, if any, by the Company, whether common stock, convertible preferred or
otherwise, in the six month period prior to the date of this Agreement will not be “integrated,” as that term has been defined by the Commission, with the Offering or otherwise cause the offer and sale of the Securities to not be exempt
from the registration requirements of the Securities Act pursuant to the exceptions provided in Commission Rule 506. 
 (gg) The Company, on
the Closing Date, will terminate the Commercial Variable Rate Revolving Or Draw Note by and between the Company and SunTrust Bank in the amount of $2,000,000 and tender to SunTrust Bank all monies due and owing under such note including principal
and accrued interest. Moreover, the Company shall acquire a release from the Agreement Not To Encumber Assets executed in conjunction with the aforementioned note. 
 4. Placement Agent Representations and Warranties. The Placement Agent represents and warrants to the Company and the Issuer Trust that: 
 (a) The Placement Agent has not offered or sold and will not arrange for the offer or sale of the
Capital Securities except (i) in an offshore transaction complying with Rule 903 of Regulation S, (ii) to persons it has reason to believe (1) are “accredited investors” (as defined in Commission Rule 501) or (2) are
“qualified institutional investors” (as defined in Rule 144A), or (iii) otherwise pursuant to an available exemption from registration under the Securities Act, including “Rule 4(1 1/2)”. 
 (b) Neither Placement Agent
nor any person acting on its behalf has engaged, or will engage, in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Securities. 
 (c) Neither Placement Agent nor any person acting on its behalf has engaged or will engage in any directed selling efforts within the meaning of
Regulation S with respect to the Securities. 
 (d) The Placement Agent will deliver, or cause to be delivered in written or electronic form
to each Purchaser of Capital Securities, a copy of the Offering Memorandum prepared and provided by the Company. 
 (e) This Agreement has
been duly authorized by the Placement Agent, and when executed and delivered by the Placement Agent will be a valid and binding obligation of the Placement Agent, enforceable against the Placement Agent in accordance with its terms, subject to the
Bankruptcy and Equity Exemption. 
 5. Offeror Covenants. The Company and the Issuer Trust, jointly and severally, agree with
the Placement Agent that: 
 (a) The Company and the Issuer Trust will arrange for the registration, qualification or exemption of the Capital
Securities for sale under the securities and blue sky laws 

  

 - E-13 - 

 
of, and to take such actions to make the Capital Securities eligible for purchase or investment by financial institutions in, such jurisdictions as the
Placement Agent may reasonably designate and will maintain such qualifications and eligibility in effect so long as required for the sale of the Capital Securities and the investment therein by financial institutions in such jurisdictions. The
Company and the Issuer Trust will promptly advise the Placement Agent of the receipt by the Company or the Issuer Trust, as the case may be, of any notification with respect to the suspension of the registration, qualification or exemption of the
Capital Securities for sale in, or the eligibility of the Capital Securities for purchase or investment by financial institutions in, any jurisdiction or the initiation or threatening of any proceeding for such purpose. 
 (b) Neither the Company nor the Issuer Trust will, nor will either of them permit any of the Company’s “Affiliates” (as defined in
Commission Rule 501(b)) to, purchase and resell any Capital Securities during the Offering Period or any extension of the Offering Period. 
 (c) The Offerors will not, nor will either of them permit any of their respective Affiliates, nor
any person acting on its or their behalf, to, directly or indirectly, make offers or sales of any security, or solicit offers to buy any security, under circumstances that would require the registration of any of the Securities under the Securities
Act or the qualification or filing of the Trust Agreement, the Guarantee Agreement or the Indenture, or any Issuer Trustee, Guarantee Trustee or Indenture Trustee under the Trust Indenture Act. Without limiting the generality of the immediately
preceding sentence, the Offerors will not and will cause their Affiliates not to make any offer or sale of securities of the Offerors of any class if, as a result of the doctrine of “integration” under the Securities Act, such offer or
sale would render invalid (for the purpose of (i) the offer or sale of the Capital Securities by the Placement Agent or to the Purchasers, (ii) the resale of the Capital Securities by the Placement Agent or (iii) the resale of the
Capital Securities to others by such subsequent purchasers from the Placement Agent or others), the exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof, by Rule 144A, Rule 144, “Rule 4(1 1/2)”, Regulation S or other exemptions thereunder. 
 (d) Neither the Company nor the Issuer Trust will, nor will either of them permit any of their Affiliates, nor any person acting on its or their behalf,
to, engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the any of the Securities. 
 (e) Neither the Company nor the Issuer Trust will, nor will either of them permit any of their Affiliates or any person acting on its or their behalf, to
engage in any directed selling efforts within the meaning of Regulation S with respect to the Securities. 
 (f) None of the Company nor any
of its Affiliates or Subsidiaries nor the Issuer Trust will take, directly or indirectly, any action designed to, or that might reasonably be expected to, cause or result in stabilization or manipulation of the price of any security of the Company
to facilitate the sale or resale of the Capital Securities. 
 (g) Each of the Offerors will cooperate with the Placement Agent and use all
commercially reasonable efforts to make the Capital Securities, and in the event the Junior Subordinated Debentures are distributed to Holders of the Capital Securities, to make the Junior Subordinated Debentures, eligible for clearance and
settlement as book-entry securities through the facilities of DTC, and will execute, deliver and comply with all representations made to, and agreements with, DTC. 
  

 - E-14 - 

 (h) The Offerors, as promptly as possible, will furnish to the Placement Agent, without charge, such
number of copies of the Offering Memorandum and all amendments and supplements thereto and documents incorporated by reference therein, including any filings made under the 1934 Act or applicable rules and regulations thereunder, as the Placement
Agent or any offeree may reasonably request. The Offerors will not use or distribute any other offering materials. 
 (i) The Offerors will
immediately notify the Placement Agent, and confirm such notice in writing, (i) of any filing made by the Offerors of information relating to the offering of the Capital Securities with Nasdaq, any securities exchange or any Governmental
Authority in the United States or any other jurisdiction and shall provide the Placement Agent with copies thereof, and (ii) prior to the completion of the placement of the Capital Securities and the Offering Period, of any actual or
prospective material changes in or affecting the condition (financial or otherwise), earnings, cash flows, business or prospects of the Issuer Trust, or the Company and its Subsidiaries considered as one enterprise, which (x) make any statement
in the Offering Memorandum false or misleading in any material respect or (y) are not disclosed in the Offering Memorandum. In such event or if during such time any event shall occur as a result of which it is necessary, in the reasonable
opinion of the Company, the Placement Agent, or their respective counsel, to amend or supplement the Offering Memorandum in order that the Offering Memorandum not include any untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein not misleading in the light of the circumstances then existing, the Company will immediately amend or supplement the Offering Memorandum by preparing and furnishing to the Placement Agent an
amendment or amendments of, or a supplement or supplements to, the Offering Memorandum (in form and substance satisfactory in the reasonable opinion of counsel for the Placement Agent) so that, as so amended or supplemented, the Offering Memorandum
will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at the time it is delivered to an offeree, not misleading. Prior
to the Closing Date and each Subsequent Closing Date, if any, the Company will furnish to the Placement Agent upon its request, as soon as they have been prepared, a copy of any Company financial statements and other information for any period
subsequent to the periods covered by the Financial Statements or Interim Financial Statements included in the Offering Memorandum. 
 (j) The
Offerors will advise the Placement Agent promptly of any proposal to amend or to supplement the Offering Memorandum and will not effect such amendment or supplement without the consent of the Placement Agent. Neither the consent of the Placement
Agent, nor the Placement Agent’s delivery of any such amendment or supplement, shall constitute a waiver of any of the conditions set forth in Section 6 hereof. 
 (k) In connection with the offer and sale of the Capital Securities, the Offerors agree that, prior to any offer or sale of the Capital Securities to or by the Placement Agent, the Placement Agent and its counsel have
the right to make reasonable inquiries into the business of the Issuer Trust, the Company and its Subsidiaries. In connection with the offer or sale of the Capital Securities through the Placement Agent during the Offering Period, the Offerors also
agree to provide to each prospective offeree of Capital Securities who so requests information concerning the Issuer Trust, the Company and its Subsidiaries (to the extent that such information is available or can be acquired and made available to
prospective Purchasers without unreasonable effort or expense and to the extent the provision thereof is not prohibited by applicable Law) and the terms and conditions of the offering of the Securities, as provided in the Offering Memorandum, and to
hold at least one conference call with offerees at a reasonable time prior to the Closing and each Subsequent Closing, if any, whereby such offerees have the 

  

 - E-15 - 

 
opportunity to ask questions and receive answers concerning the terms of the Offering and to obtain information about the Offerors or the Offering to the
same extent as set forth in the immediately preceding sentence. 
 (l) The Company shall pay promptly upon invoice and not later than the
Closing and each Subsequent Closing, if any, or any termination of the Offering, and irrespective of whether any Capital Securities are sold, (i) all costs incident to the authorization, issuance, sale and delivery of the Securities, including
making the Securities eligible for book-entry transfer through DTC, and all taxes payable in that connection; (ii) the reasonable fees and charges of qualifying and making eligible for investment by financial institutions, the Capital
Securities under the laws of the several jurisdictions as provided in Section 5(a); (iii) the actual and reasonable fees and expenses of the Issuer Trustees, the Guarantee Trustee and the Indenture Trustee and their counsel; (iv) the
out-of-pocket expenses actually incurred by the Placement Agent, including the reasonable actual fees and charges of the Placement Agent’s counsel, including any tax opinions, DTC and Portal filings, and blue sky and investment eligibility
surveys and filings, as applicable; and (v) all other costs and expenses incurred incident to the performance of the obligations of the Company and the Issuer Trust. All fees, charges and expenses payable hereunder are net of applicable
withholding, sales or similar taxes. 
 (m) Neither the Company nor the Issuer Trust will, nor will either engage or permit any Affiliate to
engage anyone other than the Placement Agent (until 270 days following the date of this Agreement) without the Placement Agent’s prior written consent, offer, sell, contract to sell, grant any option to purchase or otherwise dispose of,
directly or indirectly, (i) any Securities or other securities of the Issuer Trust other than as contemplated by this Agreement, (ii) any securities that are substantially similar to the Securities, including any similar securities
convertible into or exercisable or exchangeable into other Company securities, or (iii) any other securities convertible into, or exercisable or exchangeable for, any of (i) or (ii), or enter into an agreement, understanding or arrangement
with any other person for such purposes, or announce an intention to do any of the foregoing. 
 (n) The Offerors will use all commercially
reasonable efforts to do and perform all things required to be done and performed by each of them under this Agreement prior to and after the Closing Date and each Subsequent Closing Date, to satisfy all conditions precedent on its part to the
delivery of the Capital Securities to consummate the Transactions. 
 (o) The Company, promptly following the Closing, and each Subsequent
Closing, will issue a press release, in a form reasonably acceptable to the Placement Agent announcing the sale of the Capital Securities through the Placement Agent, and if the Company files reports with the Commission pursuant to Sections 13 or
15(d) of the 1934 Act, will file such press release with the Commission on a Form 8-K. The Offerors also will file timely with the Commission one or more Form Ds pursuant to Regulation D with respect to the sale of the Securities, in form and
substance reasonably satisfactory to the Placement Agent. 
 (p) The Issuer Trust will use the proceeds received by it from the sale of the
Securities, and the Company and its Subsidiaries will use the proceeds received by them from the sale of the Junior Subordinated Debentures, in the manner specified in the Offering Memorandum under the caption “Use of Proceeds.”

 (q) Each of the Offerors will, so long as any of the Capital Securities or the Junior Subordinated Debentures are outstanding, file with
the Commission all reports specified under Sections 13 or 15(d) of the 1934 Act, to the extent that the Company is otherwise required 

  

 - E-16 - 

 
to file such information, and otherwise will (i) maintain and provide “adequate current public information” (as defined in Commission Rule
144(c) under the Securities Act) about the Offerors to permit resales of the Capital Securities or the Junior Subordinated Debentures pursuant to such Rule 144, and (ii) make available to any prospective purchaser of the Capital Securities or
Junior Subordinated Debentures, the information required by Rule 144A(d)(4) under the Securities Act. The Company shall cause to be prepared annual audited consolidated financial statements consistent with the provisions of subsections 3(m), 3(n)
and 3(q) hereof, will maintain the system of internal controls consistent with subsection 3(q) hereof, and for so long as any of the Capital Securities or the Junior Subordinated Debentures are outstanding, will show such instruments in their
Financial Statements and Interim Financial Statements as a separate line item and as part of the Company’s total debt. 
 (r) For so
long as any of the Capital Securities or the Junior Subordinated Debentures are outstanding, the Offerors will (i) deliver without charge to the Placement Agent and each Holder, promptly upon filing or becoming available, copies of (w) all
reports or other publicly available information that the Company mails or otherwise makes available to its shareholders and holders of securities of the Company, (x) all reports, financial statements and proxy or information statements filed by
the Company and/or the Issuer Trust with the Commission, Nasdaq or any securities exchange, (y) other information concerning the Company or its Subsidiaries as reasonably requested by the Holder, including without limitation, press releases,
analysts’ reports and communications with holders of Company or Subsidiary securities, and (z) annual financial statements and interim unaudited financial statements meeting the requirements of Section 3(m) hereof, and (ii) make
management available to participate in a conference call once annually to discuss with Holders of the Capital Securities the Company’s and its Subsidiaries’ financial condition, results of operations and other matters. 
 (s) The Company and the Issuer Trust will comply with, and perform their obligations under, the Operative Documents. 
 (t) The Company and the Issuer Trust will not claim, and will actively resist any attempts by others to claim, the benefits of any usury laws against
holders of the Capital Securities or the Junior Subordinated Debentures. 
 (u) The Offerors will maintain this Agreement and all other
Transaction Documents, and the terms hereof and thereof strictly confidential, except to the extent that (i) either Offeror is required to file the Trust Agreement, the Guarantee Agreement, the Indenture or the forms of the Securities with any
public officials in the State of Delaware or the state where the Company maintains its principal executive offices or with the Commission, and (ii) the terms of the Securities may be described generally in financial statements, reports or
filings with the Commission or other Governmental Authorities. The Placement Agent and the Offerors may disclose the Transaction Documents to Purchasers of the Securities and to any Governmental Authority, provided the Offerors use all
commercially reasonable efforts to limit the public disclosure thereof. The Offerors may also disclose the Transaction Documents to their respective counsel and accountants, and others who have a need to know such information, provided such
persons are notified that these Transaction Documents are confidential and agree to maintain them as confidential. It is understood and agreed that the Transaction Documents are proprietary to the Placement Agent and will not be copied or used by
the Company or any of its Affiliates or representatives for any purposes other than the Transactions. 
 (v) With respect to any offering and
sale of Company capital stock, whether such capital stock be common stock, convertible preferred, debt, or otherwise, occurring within the six month period following the date of this Agreement, the Company shall either: 
  

 - E-17 - 

 (i) register the capital stock pursuant to requirements of the Securities Act and comply with Rule 152
of the same, or; 
 (ii) ensure all such offers and sales of capital stock will be made (A) exclusively to “accredited
investors,” as that term is defined in Commission Rule 501 under the Securities Act, or to fewer than 30 nonaccredited investors each of whom the Company reasonably believes to be sophisticated, (B) in compliance with the information
delivery requirements set forth in Commission Rule 502(b) under the Securities Act, (C) without any form of general solicitation or general advertising within the meaning of Commission Rule 502(c) under the Securities Act, (D) in
compliance with the resale limitation requirements of Commission Rule 502(d) under the Securities Act, and (E) otherwise in compliance with the private offering exemption provided by Section 4(2) of the Securities Act and the safe harbor
provided by Commission Rule 506 thereunder; and 
 (w) Notwithstanding (u) above, the Company will take all reasonable steps to ensure
that any such offers and sales of capital stock by the Company in the six month period following the date of this Agreement will not be “integrated,” as that term has been defined by the Commission, with the Offering or otherwise cause the
offer and sale of the Securities to not be exempt from the registration requirements of the Securities Act pursuant to the exceptions provided in Commission Rule 506. 
 (x) The Company will maintain a line of credit, secured by 100% of the common stock of the Company’s Subsidiaries (the “Line of Credit”), in an amount of $250,000 with The Bankers Bank, so long
as the Capital Securities or the Junior Subordinated Debentures are outstanding, provided The Bankers Bank is willing to maintain and renew such Line of Credit. Draws under the Line of Credit may be used by the Company in its discretion for
any purposes permitted under the related Loan Documents, including maintaining the capital adequacy of the Company’s Bank Subsidiaries. Neither the Placement Agent nor The Bankers Bank require that the Line of Credit be used by the Company to
pay any amounts under the Securities. 
 6. Conditions to the Placement Agent’s Obligations. The Placement Agent’s
obligations under this Agreement to use its commercially reasonable efforts to obtain Purchasers for the Capital Securities and to close the sale of any Capital Securities shall be subject to the accuracy of the representations and warranties of the
Company and the Issuer Trust contained herein as of the date and time that this Agreement is executed (the “Execution Time”) through each Closing Date and Subsequent Closing Date, if any, to the accuracy of the statements of the
Company and the Issuer Trust made herein and in any other Transaction Documents, to the performance by the Company and the Issuer Trust of their respective covenants, agreements and obligations hereunder and under the other Transaction Documents,
and to the following additional conditions: 
 (a) The Company shall have furnished to the Placement Agent the opinion of counsel to the
Company (“Company Counsel”) that is reasonably acceptable to the Placement Agent, dated the Closing Date and each Subsequent Closing Date, if any, addressed to the Placement Agent addressing the matters set forth in Annex A
hereto and such other matters as the Placement Agent may reasonably request. 
 (b) The Company shall have furnished to the Placement Agent
the opinion of special tax counsel to the Company, which shall be the Placement Agent’s counsel, dated the 

  

 - E-18 - 

 
Closing Date and each Subsequent Closing Date, if any, containing such assumptions, qualifications and limitations as shall be reasonably acceptable to the
Placement Agent and its counsel to the effect that (i) the Issuer Trust will be characterized as a grantor trust for United States federal income tax purposes and not as a partnership or as an association subject to tax as a corporation,
(ii) for United States federal income tax purposes, the Junior Subordinated Debentures will constitute indebtedness of the Company, and (iii) the descriptions of the federal income tax consequences contained in the Offering Memorandum
under the captions “Summary” and “Certain United States Federal Income Tax Consequences” are a fair and accurate summary of the United States federal income tax effects of purchasing, holding and selling Capital Securities.

 (c) The Placement Agent shall have received two opinions (collectively, the “Delaware Opinion”) of Richards,
Layton & Finger, P.A. (or other counsel reasonably acceptable to the Placement Agent), special Delaware counsel for the Placement Agent, Company, the Issuer Trust, the Issuer Trustees, the Guarantee Trustee and the Indenture Trustee dated
the Closing Date, addressed to the Placement Agent and the Company, that collectively address the matters set forth in Annex B hereto. 
 (d) There shall not have occurred (i) any change, or any development or event involving a prospective change, in the condition (financial or otherwise), earnings, cash flows, business or prospects of the Company or its Subsidiaries
which, in the judgment of the Placement Agent, is material and adverse and makes it impractical or inadvisable to proceed with the completion of the Offering or the sale of and payment for the Capital Securities; (ii) any suspension or
limitation of trading in securities generally on the New York Stock Exchange, the American Stock Exchange Nasdaq, or any over-the-counter securities market, or any material disruption of the settlement of trading on any such exchange or
over-the-counter market generally, or the establishment of minimum prices for trading securities generally on any such exchange or any over-the-counter market, or any suspension of trading of any securities of the Company on any exchange or in the
over-the-counter market; (iii) any banking moratorium declared by any United States federal authorities or state authorities; (iv) the lowering or withdrawal of any rating assigned to any securities or deposits issued or guaranteed by the
Company or any of its Subsidiaries by any rating agency or the public announcement or of disclosure to the Company by any rating agency that it has under surveillance or review, with possible negative consequences, its rating of any securities or
deposits issued or guaranteed by the Company or its Subsidiaries, or (v) any outbreak or escalation of hostilities, any declaration of a national emergency or war by the United States or any other national or international calamity, crisis or
emergency, any act or acts of terrorism, or any change in the financial markets if, in the judgment of the Placement Agent, the effect of any such outbreak, escalation, act, declaration, calamity, emergency or change makes it impractical or
inadvisable to proceed with solicitations of offers to purchase, or the completion of its sale of, the Capital Securities. 
 (e) The Company
shall have furnished to the Placement Agent a certificate of the Company, signed by the Chairman, any Vice Chairman, the Chief Executive Officer, the President or any Vice President and by the Treasurer or Chief Financial Officer of the Company, and
one of the Administrators of the Issuer Trust dated the Closing Date, reasonably acceptable in form and substance to the Placement Agent, to the effect that: 
 (i) the representations and warranties of the Company and the Issuer Trust made herein and in each Transaction Document are true and correct in all material respects on and as of the Closing Date and each Subsequent
Closing Date, if any, with the same effect as if made on each of the Closing Date and each Subsequent Closing Date, if any, and the Company 

  

 - E-19 - 

 
and the Issuer Trust have complied with their respective covenants, agreements and obligations hereunder and in the Transaction Documents and satisfied all
the conditions herein and in the Transaction Documents, including the purchase by the Company of Common Securities representing not less than 3% of the aggregate stated Liquidation Amount of all Trust Securities, the payment of the Placement Agent
Fee, and all other fees and expenses payable under Section 5, on either of their part to be performed or satisfied at or prior to the Closing Date and each Subsequent Closing Date, if any; and 
 (ii) since the date of the most recent Financial Statements provided by the Company to the Placement Agent and included or incorporated in the Offering
Memorandum, and since the date of the Offering Memorandum, there has been no material adverse change in the condition (financial or otherwise), earnings, cash flows, business or prospects of the Company and its Subsidiaries considered as one
enterprise, whether arising from transactions in the ordinary course of business or otherwise. 
 (f) Prior to the Closing Date, and each
subsequent Closing Date, if any, the Company and the Issuer Trust shall have furnished to the Placement Agent such further information, instruments, certificates and documents, as may be reasonably requested by the Placement Agent, in form and
substance reasonably satisfactory to the Placement Agent. 
 (g) At the Closing Date and each subsequent Closing Date, if any, each of the
Transaction Documents shall have been duly authorized, executed and delivered by each party thereto, and fully executed counterparts thereof shall have been delivered to the Placement Agent, and the Company shall have paid all fees and expenses,
including all legal fees and charges, for which it is responsible hereunder. 
 If any of the conditions specified in this Section 6
shall not have been fulfilled timely in all material respects, or if any of the forgoing documents or other Transaction Documents shall not be reasonably satisfactory in form and substance to the Placement Agent, the Placement Agent’s
obligations hereunder may be terminated at, or at any time prior to, the Closing Date by the Placement Agent. Notice of such termination shall be given to the Company and the Issuer Trust in writing or by telephone or facsimile confirmed in writing.

 7. [Reserved] 
 8.
Indemnification and Contribution. 
 (a) Each Placement Agent, severally and not jointly, agrees to indemnify and hold harmless the
Company and the Issuer Trust, and their respective directors, officers, employees, agents, representatives, and each person or entity who controls the Company or the Issuer Trust within the meaning of Section 15 of the Securities Act or
Section 20 of the 1934 Act against any and all Claims (as defined below), as incurred, to which they or any of them may become subject under the Securities Act, the 1934 Act or other federal or state law or regulation, at common law or
otherwise, insofar as such Claims arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any information (whether oral or written) or documents furnished or made available by the Placement
Agent to the Company, the Issuer Trust or any Purchaser of Securities, including the representations and warranties contained in this Agreement, or arise out of or are based upon the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal fees or charges or other expenses reasonably incurred by them in 
  

 - E-20 - 

 
connection with preparing, investigating, defending or settling any such Claim; provided, however, the Placement Agents, the Company and the Issuer
Trust hereby agree that the only information so provided by the Placement Agent is that information described in the last clause of the proviso to Section 3(bb) hereof. This indemnity agreement will be in addition to any liability which the
Placement Agent may otherwise have. 
 (b) The Company and the Issuer Trust agree, jointly and severally, to indemnify and hold harmless the
Placement Agent and its directors, officers, employees, agents, representatives, and each person or entity who controls the Placement Agent within the meaning of Section 15 of the Securities Act or Section 20 of the 1934 Act, and the
respective heirs, and personal and legal representatives of such individuals, against any and all losses, expenses, claims, damages or liabilities, joint or several, actions, investigations or proceedings of any nature (“Claims”),
as incurred, to which they or any of them may become subject under the Securities Act, the 1934 Act or other federal or state law or regulation, at common law or otherwise, insofar as such Claims arise out of or are based upon any breach of this
Agreement or any untrue statement or alleged untrue statement of a material fact contained in any information (whether oral or written) or documents furnished or made available to the Placement Agent or any Purchaser of Securities, including the
representations and warranties contained in this Agreement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading,
and agrees to reimburse each such indemnified party, as incurred, for any legal fees or charges or other expenses reasonably incurred by them in connection with preparing, investigating, defending or settling any such Claim; provided,
however, neither the Company nor the Issuer Trust will be liable to the Placement Agent, its directors and officers and each person, if any, who controls such Placement Agent in any such case to the extent that any such Claim arises out of or is
based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any such documents in reliance upon and in conformity with written information furnished to the Company by the Placement Agent specifically for use
therein, it being understood and agreed that the only such information is described in the proviso to Section 3(bb) hereof, unless such Claim arises out of the offer or sale of Capital Securities occurring after the Placement Agent has notified
the Company and Issuer Trust in writing that such information should no longer be used therein. This indemnity agreement will be in addition to any liability which the Company or the Issuer Trust may otherwise have. 
 (c) The Company agrees to indemnify and hold harmless the Issuer Trust against all Claims to which the Issuer Trust may be liable under Section 8(b)
hereunder. 
 (d) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any Claim, such
indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party
shall not relieve such indemnifying party from any liability hereunder, except and to the extent it is materially prejudiced as a result thereof, and in any event shall not relieve it from any liability which it may have otherwise than on account of
this Section 8. The indemnifying party shall be entitled to appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought
(in which case the indemnifying party shall not thereafter be responsible for the fees and charges of any separate counsel retained by the indemnified party or parties except as expressly set forth below); provided, however, that such counsel
shall be reasonably satisfactory to the indemnified party (and which may be counsel to the indemnifying party). Notwithstanding the indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the
indemnified party 
  

 - E-21 - 

 
shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees and charges of such
separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the actual or potential defendants in, or targets of, any such
action, investigation, proceeding or Claim include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties
which are different from or additional to those available to the indemnifying party, (iii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time
after notice of the institution of such action or proceeding, or (iv) the indemnifying party shall authorize in writing the indemnified party to employ separate counsel at the expense of the indemnifying party. It is understood and agreed that
the indemnifying party shall not, in respect of the legal expenses and charges of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and charges of more than one separate
identified counsel (in addition to one identified local counsel for each applicable jurisdiction) for all such indemnified parties and that all such fees and charges shall be reimbursed as they are incurred. Such firm shall be designated in writing
by the indemnified parties in the case of parties to be indemnified pursuant to Section 8(a) or 8(b) hereof. An indemnifying party shall not be liable for any settlement of any proceeding effected without its prior written consent, but if
settled with such consent or if there is a final, nonappealable judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. No
indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding in respect of which any indemnified
party is a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of each indemnified party from all liability on all Claims that are the subject matter of
such proceeding or arise therefrom or related thereto, and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any indemnified party. 
 (e) If the indemnification provided for in this Section 8 is unavailable to or insufficient to hold harmless an indemnified party under subsections
(a), (b) or (c) above in respect of any Claims referred to therein and with respect to which such party would otherwise be entitled to indemnity by virtue thereof, then each indemnifying party shall contribute the amount paid or payable by
such indemnified party as a result of such Claims, as incurred, in such proportion as is appropriate to reflect the relative benefits received by the Company and the Issuer Trust, on the one hand, and the Placement Agent, on the other hand, from the
offering of the Capital Securities. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to give notice required under subsection (d) above, then each
indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company and the Issuer Trust, on the one
hand, and the Placement Agent, on the other hand, in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities and expenses (or actions or proceedings in respect thereof), as well as any other relevant
equitable considerations. The relative benefits received by the Company and the Issuer Trust, on the one hand, and the Placement Agent, on the other hand, shall be deemed to be in the same proportion as the total net proceeds from the Offering
(before deducting expenses) received by the Issuer Trust and the Company bear to the total fees received by the Placement Agent in connection with the sale of the Securities. The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to 

  

 - E-22 - 

 
state a material fact relates to information supplied by the Company and the Issuer Trust, on the one hand, or the Placement Agent, on the other hand, and
the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The
Offerors and the Placement Agent agree that it would not be just and equitable if contribution pursuant to this Section 8 were determined by pro rata allocation or by any other method of allocation which does not take account of the
equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the Claims referred to above in this subsection (d) shall be deemed to include any reasonable legal fees and
charges or other expenses reasonably incurred by such indemnified party in connection with preparing for, investigating or defending any such action, claim or proceeding. Notwithstanding the provisions of this subsection (d), the Placement
Agent shall not be required to contribute any amount in excess of the Placement Agent Fee (net of expenses, whether or not reimbursed by the Company) which the Placement Agent has actually received from the sale of Capital Securities. 
 No person guilty of fraudulent misrepresentation within the meaning of Securities Act, Section 11(f) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentations. 
 9. Termination. 
 (a) This Agreement shall be subject to termination in the absolute discretion of the Placement Agent, by notice given to the Company and the Issuer Trust
prior to delivery of and payment for the Capital Securities as provided in Section 6, or earlier, if any Offeror representation or warranty is inaccurate, or if either Offeror fails or is unable to perform, or gives notice of its intent not to
perform, any of its covenants, agreements and obligations hereunder. 
 (b) If after a reasonable period of time but not less than 60 days
following the commencement of the Offering by delivery of the Offering Memorandum to prospective Purchasers, the Company, the Issuer Trust and the Placement Agent mutually determine that the Issuer Trust has not received offers from Investors to
purchase Capital Securities on reasonably acceptable terms and conditions and no Capital Securities have been sold, the Placement Agent’s agency under this Agreement may be terminated by written consent of the Company, the Issuer Trust and the
Placement Agent. Such termination will be without obligation on the Placement Agent’s part or on the part of the Company or the Issuer Trust, except as provided in Sections 8 and 11 hereof. 
 10. Other Agreements. 
 (a)
Each of the Company and the Issuer Trust acknowledges and agrees that it has made and will make its own decisions with respect to, the desirability to it of the offering, pricing and sale of the Securities, and has not relied and will not rely upon
the Placement Agent in making such evaluations and decisions. It is understood and agreed that the Placement Agent will act under this Agreement as an independent contractor with only the express duties specified herein. Nothing in this Agreement is
intended to or shall be deemed to create a fiduciary or other relationship between the Placement Agent and (i) the Issuer Trust, (ii) the Company or its shareholders or holders of its other securities or any Subsidiary, or (iii) any
Purchaser or prospective Purchaser. This Agreement is not intended to and shall not confer on any person or entity other than the parties hereto and their respective permitted successors and assigns (and , for purposes of Section 8 only, such
other persons specified in Section 8), any relationship, rights or 
  

 - E-23 - 

 
remedies under or by reason of this Agreement or as a result of the services to be rendered by the Placement Agent hereunder, whether as third party
beneficiaries or otherwise. 
 (b) The Company authorizes the Placement Agent, following Closing, (i) to place advertisements in
financial and other newspapers and journals (including electronic versions thereof) at its own expense describing the Transactions generally, (ii) to use the Company’s corporate logo in such advertising or related promotional materials
(including electronic versions thereof) concerning the Placement Agent’s services hereunder, and (iii) to include the Transaction and the Company in lists of transactions and customers. 
 (c) The Company acknowledges and agrees that there are no understandings, arrangements or agreements with respect to the offer or sale of the Securities
or the Transactions with any finders, brokers, underwriters, agents, salesmen, dealers, representatives or other persons (other than the Placement Agent as provided herein) which have any interest in compensation due to the Placement Agent from any
Transactions, and the Company shall indemnify, defend and hold harmless the Placement Agent from and against any and all Claims for such compensation. 
 11. Survival. The respective representations, warranties and covenants made by or on behalf of the Company and the Issuer Trust or their respective officers or trustees and of the Placement Agent set
forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Placement Agent, the Company or the Issuer Trust, and will survive delivery of and payment for the Capital
Securities and shall be deemed made as to and for the benefit of any Purchaser of the Capital Securities. The provisions of Sections 1(d), 3, 5, 8, 10, 11, 12, 13, 14 and 15 hereof shall survive the delivery of and payment for the Capital Securities
or any termination or cancellation of this Agreement, and shall remain in full force and effect, provided that upon a termination or cancellation of this Agreement in accordance with its terms, all the foregoing provisions shall survive if
any Capital Securities have been sold, and if no Capital Securities have been sold, all such provisions shall survive and continue in full force and effect, and provided further that as to Section 5 only, subsections 5(c), 5(l), 5(m) and
5(u) shall continue in full force and effect, but the other provisions of Section 5 shall not survive. 
 12.
Notices. All communications hereunder will be in writing and effective only on receipt, and, if sent to the Placement Agent, will be mailed, delivered or sent by facsimile and confirmed to it at 2410 Paces Ferry Road, 600 Paces Summit,
Atlanta, Georgia 30339-4098, fax number (770) 805-6543 Attention: Frank W. Brown, with a copy to Ralph F. MacDonald, III, Alston & Bird LLP, One Atlantic Center, 1201 W. Peachtree Street, Atlanta, Georgia 30309-3424, fax number
(404) 881-4777; if sent to the Company or the Issuer Trust, will be mailed, delivered or sent by facsimile and confirmed to it at the address shown on Exhibit 1 hereto, with a copy as shown on Exhibit 1 hereto. 
 13. Successors and Assigns. This Agreement will inure to the benefit of and be binding upon (i) the parties hereto and their
respective successors and assigns, and for purposes of Section 8 only, the persons specified in Section 8 hereof and (ii) each Purchaser of Capital Securities from the Placement Agent. The Company may not assign this Agreement and may
not delegate its duties hereunder. 
 14. Applicable Law; Venue. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF GEORGIA WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS. ANY ACTION, 

  

 - E-24- 

 
SUIT OR PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY TRANSACTION HEREUNDER SHALL BE BROUGHT EXCLUSIVELY IN FEDERAL OR STATE COURT IN THE
NORTHERN DISTRICT OF GEORGIA, WHICH ALL PARTIES AGREE IS A REASONABLE VENUE. 
 15. Entire Agreement, Amendments, etc.
Except as otherwise expressly provided herein or in the Line of Credit documents, this Agreement (including the annexes schedules and exhibits attached hereto and which are incorporated hereby into this Agreement) constitutes the entire
agreement between the parties with respect to the offering and sale of the Securities and the Transactions, and supersedes all prior arrangements, agreements or understandings with respect thereto, written or oral. Any specific changes set forth in
Exhibit 1 hereto shall govern and control in the event of any difference between such Exhibit 1 and the provisions in the main body of this Agreement. This Agreement may be amended or modified only in writing executed by all the
parties hereto. Any waiver hereof must be in writing executed by the party entitled to give such waiver to be effective. If any provision of this Agreement is determined to be unenforceable, the other provisions shall remain in full force and
effect. 
 [signatures on the following page] 
  

 - E-25 - 

 If the foregoing is in accordance with your understanding of our agreement, please sign and return to us
the enclosed duplicate hereof, whereupon this Placement Agreement shall be a valid and binding agreement among the Company, the Issuer Trust and the Placement Agent. 
 Very truly yours, 
  

			
	The PB Financial Services Corporation
		
	By:	 	  
		 	 Name: Monty G. Watson
 Title: President and Chief
Executive Officer

  

			
	PB Capital Trust I
		
	By:	 	  
		 	The PB Financial Services Corporation, as Depositor

  

			
		
	By:	 	  
		 	 Name: Monty G. Watson
 Title: President and Chief
Executive Officer

 The foregoing Agreement is hereby 
 confirmed and accepted as of the 
 date first above written. 
  

			
	 THE BANKERS BANK
 BANKERSBANC
CAPITAL CORPORATION

		
	By:	 	  
		 	 Frank W. Brown
 Managing Director

  

 - E-26 - 

 SCHEDULE 1 
 List of Subsidiaries 
  

					
	 Name
	 	 Type of
 Organization
	 	 Jurisdiction Where
 Organized

			
	The Peachtree Bank	 	Commercial Bank	 	Georgia

  
  

 - E-27 - 

 ANNEX A 
 OPINIONS TO BE DELIVERED BY COMPANY COUNSEL 
 Pursuant to Section 6(a) of the Placement
Agreement, the counsel for the Company shall deliver an opinion to the effect that: 
 (i) each of the Company and the Subsidiaries
(A) has been duly incorporated or organized and is validly existing as an entity in good standing under the laws of the jurisdiction in which it is organized, with full power and authority as such an entity to own its properties and conduct the
business it transacts and proposes to transact as described in the Offering Memorandum, to form the Issuer Trust and acquire Common Securities, to enter into, deliver and perform its obligations under the Placement Agreement and the other
Transaction Documents, and to offer, issue and sell the Securities, (B) to use the proceeds from the sale of the Trust Securities as described in the Offering Memorandum, and (C) holds all Approvals necessary for the conduct of its
business, except where the failure to hold such Approvals would not, singularly or in the aggregate, have a Material Adverse Effect; 
 (ii)
The authorized, issued and outstanding capital stock of the Company is as set forth in the Offering Memorandum in the column entitled “Actual” under the caption “Capitalization”, the shares of issued and outstanding capital stock
of the Company are fully paid and non-assessable, and none of the outstanding shares of capital stock of the Company was issued in violation of the preemptive or other similar rights of any securityholder of the Company; 
 (iii) All of the issued and outstanding capital stock or other equity interests of each Subsidiary has been duly authorized and validly issued, is fully
paid and non-assessable and is owned by the Company, directly or through wholly-owned Subsidiaries, free and clear of any Lien, and none of the outstanding shares of capital stock of any Subsidiary was issued in violation of the preemptive or
similar rights of any securityholder of such Subsidiary; 
 (iv) no Approval (other than as may be required under any State securities or
blue sky Laws as to which no opinion is expressed) is required for the execution, delivery and performance of the Transaction Documents or the consummation of the Transactions, including, without limitation, the offer, issuance, sale and delivery of
the Capital Securities and the related Guarantee through and to the Placement Agent, the issuance, sale and delivery of the Common Securities to the Company or the issuance, sale and delivery of the Junior Subordinated Debentures to the Issuer
Trust, except such Approvals (specified in such opinion) as have been obtained and are in full force and effect; 
 (v) each of the
Transaction Documents, including this Agreement, has been duly authorized, executed and delivered by the Company and the Administrators, and (in the case of the Trust Agreement, the Indenture, the Guarantee Agreement and the Trust Securities,
respectively, assuming each has been duly authorized, executed and delivered and/or authenticated by the Issuer Trustees, the Indenture Trustee and the Guarantee Trustee, as applicable), and each Operative Document to which the Company is a party
constitutes a legal, valid and binding instrument of the Company enforceable against the Company in accordance with its terms, subject to the Bankruptcy and Equity Exception. The Junior Subordinated Debentures have been duly and validly authorized,
executed and delivered to the Indenture Trustee for authentication in accordance with the Indenture, and when authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Issuer Trust, 

  

 - E-28 - 

 
will constitute legal, valid and binding obligations of the Company entitled to the benefits of the Indenture and enforceable against the Company in
accordance with their terms, subject to the Bankruptcy and Equity Exception; 
 (vi) none of the execution, delivery and performance of each
of the Operative Documents by the Company and the Issuer Trust, the issue and sale of the Capital Securities, the application of the proceeds from the sale of the Securities as described in the Offering Memorandum, and the consummation of any other
of the Transactions nor the fulfillment of the terms thereof do not and will not conflict with, result in a breach or violation of, or constitute a default including any condition or event that, with notice, the lapse of time or both, would be a
default, or any Repayment Event, under the charter, articles or certificate of incorporation, bylaws or other organizational or constituent documents of the Company or any of its Subsidiaries, the terms of any indenture or other agreement, document
or instrument known to such counsel and to which the Company or any of its Subsidiaries is a party or bound or any Law, judgment, order, ruling or decree, of any Governmental Authority having jurisdiction over the Issuer Trust, the Company or any of
its Subsidiaries, known to such counsel to be applicable to the Company or any of its Subsidiaries, except for such conflicts, breaches, violations or defaults which are not, in the aggregate, material to the Company and its Subsidiaries taken as a
whole and do not and are not reasonably likely to have a Material Adverse Effect; and 
 (vii) the Company is duly registered as a bank
holding company under the BHC Act and the Federal Reserve’s regulations thereunder, and as a bank holding company under applicable law in all jurisdictions where the Company is required to be registered or approved as a financial holding
company, bank holding company or other holding company. The deposit accounts of the Company’s banking subsidiaries are insured by the FDIC to the fullest extent permitted by law and the rules and regulations of the FDIC, and no proceedings for
the termination of such insurance are pending, or, to such counsel’s knowledge, threatened; and 
 (viii) neither the holders of the
outstanding shares of capital stock of the Company, nor any other person has any preemptive or similar rights to purchase any Securities or the Junior Subordinated Debentures; 
 (ix) there is no charge, investigation, action, suit or proceeding before or by any Governmental Authority, now pending or, to the knowledge of such
counsel, threatened against the Issuer Trust, the Company or any of its Subsidiaries which, individually or in the aggregate, has had or is reasonably likely to have a Material Adverse Effect; 
 (x) assuming the accuracy of the representations and warranties of the Company, the Issuer Trust and the Placement Agent in the Placement Agreement, and
compliance with the terms thereof, no registration of any of the Securities under the Securities Act is required for the offer and sale of the Capital Securities in the manner contemplated by the Placement Agreement; 
 (xi) the variable interest rate that will be charged on the Securities is a permissible and legal rate of interest and will not violate any applicable
usury laws or any other applicable laws, rules, regulations or governing permissible rates of interest or charges, excluding any interest on interest; and 
 (xii) to counsel's knowledge, there is nothing in the Offering Memorandum or any amendment or supplement thereto, including the information incorporated therein by reference, (except for financial statements and
schedules and other financial or statistical data 

  

 - E-29 - 

 
included or incorporated by referenced therein) at the dates thereof and at the Closing Date, that included or includes an untrue statement of a material
fact or omitted or omits to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading with respect to the Company and its Subsidiaries. 
 In rendering the above opinions, such counsel may (A) state that its opinions are limited to the laws of the State of organization of the Company,
the corporate laws of the State of Delaware, (if applicable) and the Federal laws of the United States and (B) rely as to matters involving the application of laws of any jurisdiction other than the State of organization of the Company,
Delaware or the United States, to the extent deemed proper and specified in such opinion, upon the opinion of other counsel of good standing believed to be reliable and who are satisfactory to the Placement Agent and to the extent deemed proper, on
certificates of responsible officers of the Company and public officials; provided such opinion shall affirmatively state, as to any matter covered by an officer’s certificate, that nothing to the contrary has come to the attention of
such counsel. 
  

 - E-30 - 

 ANNEX B 
 OPINIONS TO BE DELIVERED BY DELAWARE COUNSEL 
 Pursuant to Section 7(c) of the Placement
Agreement, Richards, Layton & Finger as special Delaware counsel for the Placement Agent, the Company, the Issuer Trust, the Guarantee Trustee, the Property Trustee, the Indenture Trustee and the Delaware Trustee shall deliver two opinions,
collectively to the effect that: 
 (i) the Issuer Trust has been duly created and is validly existing and in good standing as a statutory
trust under the Statutory Trust Act with full power and authority to own the property and to conduct the business it owns and transacts and proposes to transact as described in the Offering Memorandum and to execute, deliver and perform its
obligations under the Operative Documents to which it is a party; 
 (ii) each Operative Document to which the Property Trustee, the Delaware
Trustee, the Guarantee Trustee or the Indenture Trustee are parties or are required to execute or authenticate, has been duly authorized and, on the Closing Date, will have been duly executed and delivered, by the Property Trustee, the Delaware
Trustee, the Guarantee Trustee and/or the Indenture Trustee, as applicable, and assuming the due authorization, execution and delivery by the Company and the Administrators of the Trust Agreement, is a valid and binding obligation of each of them,
enforceable against each of them in accordance with its terms, subject to the Bankruptcy and Equity Exception; 
 (iii) the Capital
Securities and the Common Securities have been duly authorized by the Issuer Trust and, when executed, authenticated, issued and delivered against payment therefor on the Closing Date to the Purchasers thereof, in the case of the Capital Securities,
and to the Company, in the case of the Common Securities, will be validly issued, fully paid and nonassessable (other than with respect to certain obligations under the Trust Agreement assumed by the Holder of the Common Securities under the Trust
Agreement) and will represent undivided beneficial interests in the assets of the Issuer Trust and entitled to the benefits of the Trust Agreement, subject to the Bankruptcy and Equity Exception; 
 (iv) none of the Capital Securities or the Common Securities is subject to preemptive or any similar rights; 
 (v) the execution, delivery and performance by the Issuer Trust of the Operative Documents to which it is a party, and the consummation of the
Transactions will not result in any violation of any applicable Delaware law (including the Statutory Trust Act) or conflict with the Trust Agreement or require the consent, approval, authorization or order of or any filing with any Delaware court
or Delaware governmental or Delaware regulatory agency or body; 
 (vi) Wilmington Trust Company is duly incorporated and validly existing as
a banking corporation with trust powers in good standing under the laws of the State of Delaware with all necessary corporate and trust power and authority to execute, deliver and carry out and perform its respective obligations under the terms of
the Trust Agreement, the Guarantee Agreement and the Indenture; 
  

 - E-31 - 

 (vii) the execution, delivery and performance of the Trust Agreement, the Guarantee Agreement and the
Indenture by the Property Trustee, the Delaware Trustee, the Guarantee Trustee and the Indenture Trustee, as applicable, do not conflict with or constitute a breach of, or a default under, the Certificate of Incorporation or by-laws of the Property
Trustee, the Delaware Trustee, the Guarantee Trustee and the Indenture Trustee, respectively or the terms of any indenture or other agreement or instrument known to such counsel and to which the Property Trustee, the Delaware Trustee, the Guarantee
Trustee or the Indenture Trustee, respectively, is a party or is bound or any applicable Delaware law, or any judgment, order or decree known to such counsel to be applicable to the Property Trustee, the Guarantee Trustee or the Indenture Trustee,
respectively, of any court, regulatory body, administrative agency, governmental body or arbitrator having jurisdiction over the Property Trustee, the Guarantee Trustee or the Indenture Trustee, respectively, or by which any of them are bound; and

 (viii) no consent, approval or authorization of, or registration with or notice to, declaration or filing with any governmental authority
or agency of the State of Delaware is required by or with respect to Wilmington Trust Company for the execution, delivery or performance by it of the Trust Agreement, the Guarantee Agreement and the Indenture, other than the filing of the
Trust’s Certificate of Trust. 
  

 - E-32 - 

 EXHIBIT 1 
 ADDITIONAL TERMS TO PLACEMENT AGREEMENT 
  

	1.	Offering Termination Date (Section 1(a) is: March 31, 2003. 

  

	2.	The Placement Agent Fee (Section 1(d)) is 3.0% of the aggregate stated liquidation amount of Capital Securities sold in the Offering. 

  

	3.	ADDRESS FOR NOTICES TO THE COMPANY (Section 12) 

 The PB Financial Services
Corporation 
 9570 Medlock Bridge Road 
 Duluth, GA 30096

 Facsimile No. 770-814-8804 
 Attention: Monty G. Watson

 With a copy to: 
 Powell, Goldstein, Frazer & Murphy
LLP 
 191 Peachtree Street, NE 
 Sixteenth Floor 
 Atlanta, GA 30303 
 Facsimile No. 404-572-6999 
 Attention: Katherine Koops 
  

 - E-33 -Indenture dated as of March 29, 2005

 Exhibit 10.47 
 The PB Financial Services Corporation 
 as Company 
 INDENTURE 
 Dated as of March 29, 2005 
 JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 
 As
Trustee 
 JUNIOR SUBORDINATED DEBT SECURITIES 
 Due June 15, 2035 

 TABLE OF CONTENTS 
  

					
	 	  	Page
	 ARTICLE I
 DEFINITIONS
	  	
	SECTION 1.01.	 	Definitions	  	1
		
	 Additional Interest
	  	1
		
	 Additional Provisions
	  	1
		
	 Authenticating Agent
	  	1
		
	 Bankruptcy Law
	  	1
		
	 Board of Directors
	  	1
		
	 Board Resolution
	  	2
		
	 Business Day
	  	2
		
	 Calculation Agent
	  	2
		
	 Capital Securities
	  	2
		
	 Capital Securities Guarantee
	  	2
		
	 Capital Treatment Event
	  	2
		
	 Certificate
	  	3
		
	 Common Securities
	  	3
		
	 Company
	  	3
		
	 Debt Security
	  	3
		
	 Debt Security Register
	  	3
		
	 Declaration
	  	3
		
	 Default
	  	3
		
	 Defaulted Interest
	  	3
		
	 Deferred Interest
	  	3
		
	 Event of Default
	  	3

  

 -i- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	Page
		
	 Extension Period
	  	3
		
	 Federal Reserve
	  	3
		
	 Indenture
	  	3
		
	 Initial Purchaser
	  	3
		
	 Institutional Trustee
	  	3
		
	 Interest Payment Date
	  	4
		
	 Interest Rate
	  	4
		
	 Investment Company Event
	  	4
		
	 LIBOR
	  	4
		
	 LIBOR Banking Day
	  	4
		
	 LIBOR Business Day
	  	4
		
	 LIBOR Determination Date
	  	4
		
	 Liquidation Amount
	  	4
		
	 Maturity Date
	  	4
		
	 Notice
	  	4
		
	 Officers’ Certificate
	  	4
		
	 Opinion of Counsel
	  	5
		
	 OTS
	  	5
		
	 Outstanding
	  	5
		
	 Paying Agent
	  	5
		
	 Person
	  	5
		
	 Predecessor Security
	  	5
		
	 Principal Office of the Trustee
	  	5
		
	 Redemption Date
	  	5

  

 -ii- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
		
	 	  	Page
		
	 Redemption Price
	  	6
		
	 Responsible Officer
	  	6
		
	 Securityholder
	  	6
		
	 Senior Indebtedness
	  	6
		
	 Special Event
	  	6
		
	 Special Redemption Date
	  	7
		
	 Subsidiary
	  	7
		
	 Tax Event
	  	7
		
	 Trust
	  	8
		
	 Trust Indenture Act
	  	8
		
	 Trust Securities
	  	8
		
	 Trustee
	  	8
		
	 United States
	  	8
		
	 U.S. Person
	  	8
		
	 ARTICLE II
 DEBT SECURITIES
	  	
			
	SECTION 2.01.	 	Authentication and Dating	  	8
			
	SECTION 2.02.	 	Form of Trustee’s Certificate of Authentication	  	9
			
	SECTION 2.03.	 	Form and Denomination of Debt Securities	  	9
			
	SECTION 2.04.	 	Execution of Debt Securities	  	9
			
	SECTION 2.05.	 	Exchange and Registration of Transfer of Debt Securities	  	10
			
	SECTION 2.06.	 	Mutilated, Destroyed, Lost or Stolen Debt Securities	  	13
			
	SECTION 2.07.	 	Temporary Debt Securities	  	13
			
	SECTION 2.08.	 	Payment of Interest	  	14

  

 -iii- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	 	 	  	Page
	SECTION 2.09.	 	Cancellation of Debt Securities Paid, etc	  	15
			
	SECTION 2.10.	 	Computation of Interest	  	15
			
	SECTION 2.11.	 	Extension of Interest Payment Period	  	17
			
	SECTION 2.12.	 	CUSIP Numbers	  	18
		
	 ARTICLE III
 PARTICULAR COVENANTS OF THE COMPANY
	  	
			
	SECTION 3.01.	 	Payment of Principal, Premium and Interest; Agreed Treatment of the Debt Securities	  	18
			
	SECTION 3.02.	 	Offices for Notices and Payments, etc	  	19
			
	SECTION 3.03.	 	Appointments to Fill Vacancies in Trustee’s Office	  	19
			
	SECTION 3.04.	 	Provision as to Paying Agent	  	19
			
	SECTION 3.05.	 	Certificate to Trustee	  	20
			
	SECTION 3.06.	 	Additional Interest	  	21
			
	SECTION 3.07.	 	Compliance with Consolidation Provisions	  	21
			
	SECTION 3.08.	 	Limitation on Dividends	  	21
			
	SECTION 3.09.	 	Covenants as to the Trust	  	22
		
	 ARTICLE IV
 LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE
	  	
			
	SECTION 4.01.	 	Securityholders’ Lists	  	22
			
	SECTION 4.02.	 	Preservation and Disclosure of Lists	  	23
		
	 ARTICLE V
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF
 DEFAULT
	  	
			
	SECTION 5.01.	 	Events of Default	  	24
			
	SECTION 5.02.	 	Payment of Debt Securities on Default; Suit Therefor	  	26
			
	SECTION 5.03.	 	Application of Moneys Collected by Trustee	  	28

  

 -iv- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	 	 	  	Page
	SECTION 5.04.	 	Proceedings by Securityholders	  	28
			
	SECTION 5.05.	 	Proceedings by Trustee	  	29
			
	SECTION 5.06.	 	Remedies Cumulative and Continuing	  	29
			
	SECTION 5.07.	 	Direction of Proceedings and Waiver of Defaults by Majority of Securityholders	  	29
			
	SECTION 5.08.	 	Notice of Defaults	  	30
			
	SECTION 5.09.	 	Undertaking to Pay Costs	  	30
		
	 ARTICLE VI
 CONCERNING THE TRUSTEE
	  	
			
	SECTION 6.01.	 	Duties and Responsibilities of Trustee	  	31
			
	SECTION 6.02.	 	Reliance on Documents, Opinions, etc	  	32
			
	SECTION 6.03.	 	No Responsibility for Recitals, etc	  	33
			
	SECTION 6.04.	 	Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May Own Debt Securities	  	33
			
	SECTION 6.05.	 	Moneys to be Held in Trust	  	33
			
	SECTION 6.06.	 	Compensation and Expenses of Trustee	  	34
			
	SECTION 6.07.	 	Officers’ Certificate as Evidence	  	35
			
	SECTION 6.08.	 	Eligibility of Trustee	  	35
			
	SECTION 6.09.	 	Resignation or Removal of Trustee, Calculation Agent, Paying Agent or Debt Security Registrar	  	35
			
	SECTION 6.10.	 	Acceptance by Successor	  	37
			
	SECTION 6.11.	 	Succession by Merger, etc	  	38
			
	SECTION 6.12.	 	Authenticating Agents	  	38
		
	 ARTICLE VII
 CONCERNING THE SECURITYHOLDERS
	  	
			
	SECTION 7.01.	 	Action by Securityholders	  	39

  

 -v- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	 	 	  	Page
	SECTION 7.02.	 	Proof of Execution by Securityholders	  	40
			
	SECTION 7.03.	 	Who Are Deemed Absolute Owners	  	40
			
	SECTION 7.04.	 	Debt Securities Owned by Company Deemed Not Outstanding	  	41
			
	SECTION 7.05.	 	Revocation of Consents; Future Securityholders Bound	  	41
		
	 ARTICLE VIII
 SECURITYHOLDERS’ MEETINGS
	  	
			
	SECTION 8.01.	 	Purposes of Meetings	  	41
			
	SECTION 8.02.	 	Call of Meetings by Trustee	  	42
			
	SECTION 8.03.	 	Call of Meetings by Company or Securityholders	  	42
			
	SECTION 8.04.	 	Qualifications for Voting	  	42
			
	SECTION 8.05.	 	Regulations	  	43
			
	SECTION 8.06.	 	Voting	  	43
			
	SECTION 8.07.	 	Quorum; Actions	  	44
			
	SECTION 8.08.	 	Written Consent Without a Meeting	  	44
		
	 ARTICLE IX
 SUPPLEMENTAL INDENTURES
	  	
			
	SECTION 9.01.	 	Supplemental Indentures without Consent of Securityholders	  	45
			
	SECTION 9.02.	 	Supplemental Indentures with Consent of Securityholders	  	46
			
	SECTION 9.03.	 	Effect of Supplemental Indentures	  	47
			
	SECTION 9.04.	 	Notation on Debt Securities	  	47
			
	SECTION 9.05.	 	Evidence of Compliance of Supplemental Indenture to be furnished to Trustee	  	48
		
	 ARTICLE X
 REDEMPTION OF SECURITIES
	  	
			
	SECTION 10.01.	 	Optional Redemption	  	48
			
	SECTION 10.02.	 	Special Event Redemption	  	48

  

 -vi- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	Page
	SECTION 10.03.	 	Notice of Redemption; Selection of Debt Securities	  	48
			
	SECTION 10.04.	 	Payment of Debt Securities Called for Redemption	  	49
		
	 ARTICLE XI
 CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE
	  	
			
	SECTION 11.01.	 	Company May Consolidate, etc., on Certain Terms	  	50
			
	SECTION 11.02.	 	Successor Entity to be Substituted	  	50
			
	SECTION 11.03.	 	Opinion of Counsel to be Given to Trustee	  	51
		
	 ARTICLE XII
 SATISFACTION AND DISCHARGE OF INDENTURE
	  	
			
	SECTION 12.01.	 	Discharge of Indenture	  	51
			
	SECTION 12.02.	 	Deposited Moneys to be Held in Trust by Trustee	  	52
			
	SECTION 12.03.	 	Paying Agent to Repay Moneys Held	  	52
			
	SECTION 12.04.	 	Return of Unclaimed Moneys	  	52
		
	 ARTICLE XIII
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	  	
			
	SECTION 13.01.	 	Indenture and Debt Securities Solely Corporate Obligations	  	53
		
	 ARTICLE XIV
 MISCELLANEOUS PROVISIONS
	  	
			
	SECTION 14.01.	 	Successors	  	53
			
	SECTION 14.02.	 	Official Acts by Successor Entity	  	53
			
	SECTION 14.03.	 	Surrender of Company Powers	  	53
			
	SECTION 14.04.	 	Addresses for Notices, etc	  	53
			
	SECTION 14.05.	 	Governing Law	  	54
			
	SECTION 14.06.	 	Evidence of Compliance with Conditions Precedent	  	54
			
	SECTION 14.07.	 	Non-Business Days	  	54
			
	SECTION 14.08.	 	Table of Contents, Headings, etc.	  	55

  

 -vii- 

 TABLE OF CONTENTS 
 (CONTINUED) 
  

					
	 	  	Page
	SECTION 14.09.	 	Execution in Counterparts	  	55
			
	SECTION 14.10.	 	Severability	  	55
			
	SECTION 14.11.	 	Assignment	  	55
			
	SECTION 14.12.	 	Acknowledgment of Rights	  	55
		
	 ARTICLE XV
 SUBORDINATION OF DEBT SECURITIES
	  	
			
	SECTION 15.01.	 	Agreement to Subordinate	  	56
			
	SECTION 15.02.	 	Default on Senior Indebtedness	  	56
			
	SECTION 15.03.	 	Liquidation; Dissolution; Bankruptcy	  	57
			
	SECTION 15.04.	 	Subrogation	  	58
			
	SECTION 15.05.	 	Trustee to Effectuate Subordination	  	59
			
	SECTION 15.06.	 	Notice by the Company	  	59
			
	SECTION 15.07.	 	Rights of the Trustee, Holders of Senior Indebtedness	  	60
			
	SECTION 15.08.	 	Subordination May Not Be Impaired	  	60
		
	EXHIBITS	  	
			
	EXHIBIT A	 	FORM OF DEBT SECURITY	  	

  

 -viii- 

 THIS INDENTURE, dated as of March 29, 2005, between The PB Financial Services Corporation, a bank
holding company incorporated in Georgia (hereinafter sometimes called the “Company”), and JPMorgan Chase Bank, National Association as trustee (hereinafter sometimes called the “Trustee”). 
 WITNESSETH: 
 WHEREAS, for its lawful
corporate purposes, the Company has duly authorized the issuance of its Junior Subordinated Debt Securities due June 15, 2035 (the “Debt Securities”) under this Indenture and to provide, among other things, for the execution and
authentication, delivery and administration thereof, the Company has duly authorized the execution of this Indenture. 
 NOW, THEREFORE, in
consideration of the premises, and the purchase of the Debt Securities by the holders thereof, the Company covenants and agrees with the Trustee for the equal and proportionate benefit of the respective holders from time to time of the Debt
Securities as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.01. Definitions. 
 The terms defined in this Section 1.01 (except as herein otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section 1.01. All accounting terms used herein and not expressly defined shall have the meanings assigned to such terms
in accordance with generally accepted accounting principles and the term “generally accepted accounting principles” means such accounting principles as are generally accepted in the United States at the time of any computation. The words
“herein,” “hereof’ and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 
 “Additional Interest” shall have the meaning set forth in Section 3.06. 
 “Additional Provisions” shall have the meaning set forth in Section 15.01. 
 “Authenticating Agent” means any agent or agents of the Trustee which at the time shall be appointed and acting pursuant to
Section 6.12. 
 “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief
of debtors. 
 “Board of Directors” means the board of directors or the executive committee or any other duly
authorized designated officers 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 other than a Saturday, Sunday or any other day on which banking institutions in Wilmington,
Delaware, New York City or the city of the Principal Office of the Trustee or the Company are permitted or required by any applicable law or executive order to close. 
 “Calculation Agent” means the Person identified as “Trustee” in the first paragraph hereof with respect to the Debt
Securities and the Institutional Trustee with respect to the Trust Securities. 
 “Capital Securities” means
undivided beneficial interests in the assets of the Trust which are designated as “TP Securities” and rank pari passu with Common Securities issued by the Trust; provided, however, that if an Event of Default (as defined in the
Declaration) has occurred and is continuing, the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital
Securities. 
 “Capital Securities Guarantee” means the guarantee agreement that the Company will enter into with
JPMorgan Chase Bank, National Association or other Persons that operates directly or indirectly for the benefit of holders of Capital Securities of the Trust. 
 “Capital Treatment Event” means, if the Company is organized and existing under the laws of the United States or any state
thereof or the District of Columbia, the receipt by the Company and the Trust of an Opinion of Counsel experienced in such matters to the effect that, as a result of (a) any amendment to, or change in, the laws, rules or regulations of the
United States or any political subdivision thereof or therein, or any rules, guidelines or policies of any applicable regulatory authority for the Company or (b) any official or administrative pronouncement or action or decision interpreting or
applying such laws, rules or regulations, which amendment or change is effective or which pronouncement, action or decision is announced on or after the date of original issuance of the Debt Securities, there is more than an insubstantial risk that,
within 90 days of the receipt of such opinion, the aggregate Liquidation Amount of the Capital Securities will not be eligible to be treated by the Company as “Tier 1 Capital” (or the then equivalent thereof) for purposes of the capital
adequacy guidelines of the Federal Reserve (or any successor regulatory authority with jurisdiction over bank or financial holding companies), as then in effect and applicable to the Company (or if the Company is not a bank holding company, such
guidelines applied to the Company as if the Company were subject to such guidelines); provided, however, that the inability of the Company to treat all or any portion of the aggregate Liquidation Amount of the Capital Securities as Tier 1
Capital shall not constitute the basis for a Capital Treatment Event, if such inability results from the Company having cumulative preferred stock, minority interests in consolidated subsidiaries, or any other class of security or interest which the
Federal Reserve or OTS, as applicable, may now or hereafter accord Tier 1 Capital treatment in excess of the amount which may now or hereafter qualify for treatment as Tier 1 Capital under applicable capital adequacy guidelines; provided
further, however, that the distribution of the Debt Securities in connection with the liquidation of 

  

 -2- 

 
the Trust by the Company shall not in and of itself constitute a Capital Treatment Event unless such liquidation shall have occurred in connection with a Tax
Event or an Investment Company Event. 
 “Certificate” means a certificate signed by any one of the principal
executive officer, the principal financial officer or the principal accounting officer of the Company. 
 “Common
Securities” means undivided beneficial interests in the assets of the Trust which are designated as “Common Securities” and rank pari passu with Capital Securities issued by the Trust; provided, however, that if an Event of Default
(as defined in the Declaration) has occurred and is continuing, the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders
of such Capital Securities. 
 “Company” means The PB Financial Services Corporation, a bank holding company
incorporated in Georgia, and, subject to the provisions of Article XI, shall include its successors and assigns. 
 “Debt
Security” or “Debt Securities” has the meaning stated in the first recital of this Indenture. 
 “Debt
Security Register” has the meaning specified in Section 2.05. 
 “Declaration” means the Amended and
Restated Declaration of Trust of the Trust dated as of March 29, 2005, as amended or supplemented from time to time. 
 “Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of Default. 
 “Defaulted Interest” has the meaning set forth in Section 2.08. 
 “Deferred Interest” has the meaning set forth in Section 2.11. 
 “Event of Default” means
any event specified in Section 5.01, which has continued for the period of time, if any, and after the giving of the notice, if any, therein designated. 
 “Extension Period” has the meaning set forth in Section 2.11. 
 “Federal Reserve” means the Board of Governors of the Federal Reserve System. 
 “Indenture” means this instrument as originally executed or, if amended or supplemented as herein provided, as so amended or
supplemented, or both. 
 “Initial Purchaser” means the initial purchaser of the Capital Securities. 
 “Institutional Trustee” has the meaning set forth in the Declaration. 
  

 -3- 

 “Interest Payment Date” means
March 15, June 15, September 15 and December 15 of each year, commencing on June 15, 2005, during the term of this Indenture. 
 “Interest Payment Period” means the period from and including an Interest Payment Date, or in the case of the first Interest
Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as
the case may be. 
 “Interest Rate” means, with respect to any Interest Period, a per annum rate of interest, equal
to LIBOR, as determined on the LIBOR Determination Date for such Interest Payment Date, plus 1.95%; provided, however, that the Interest Rate for any Interest Payment Period may not exceed the highest rate permitted by New York law, as the same may
be modified by United States law of general application. 
 “Investment Company Event” means the receipt by the
Company and the Trust of an Opinion of Counsel experienced in such matters to the effect that, as a result of a change in law or regulation or written change in interpretation or application of law or regulation by any legislative body, court,
governmental agency or regulatory authority, there is more than an insubstantial risk that the Trust is or, within 90 days of the date of such opinion will be, considered an “investment company” that is required to be registered under the
Investment Company Act of 1940, as amended, which change or prospective change becomes effective or would become effective, as the case may be, on or after the date of the original issuance of the Debt Securities. 
 “LIBOR” means the London Interbank Offered Rate for U.S. Dollar deposits in Europe as determined by the Calculation Agent
according to Section 2.10(b). 
 “LIBOR Banking Day” has the meaning set forth in Section 2.10(b)(1).

 “LIBOR Business Day” has the meaning set forth in Section 2.10(b)(1). 
 “LIBOR Determination Date” has the meaning set forth in Section 2.10(b). 
 “Liquidation Amount” means the liquidation amount of $1,000 per Trust Security. 
 “Maturity Date” means June 15, 2035. 
 “Notice” has the meaning set forth in Section 2.11. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the Vice Chairman, the President or any
Vice President, and by the Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Comptroller, an Assistant Comptroller, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. Each such certificate shall
include the statements provided for in Section 14.06 if and to the extent required by the provisions of such Section. 
  

 -4- 

 “Opinion of Counsel” means an opinion in writing signed by legal counsel, who
may be an employee of or counsel to the Company, or may be other counsel reasonably satisfactory to the Trustee. Each such opinion shall include the statements provided for in Section 14.06 if and to the extent required by the provisions of
such Section. 
 “OTS” means the Office of Thrift Supervision and any successor federal agency that is primarily
responsible for regulating the activities of savings and loan holding companies. 
 “Outstanding” means, when used
with reference to Debt Securities, subject to the provisions of Section 7.04, as of any particular time, all Debt Securities authenticated and delivered by the Trustee or the Authenticating Agent under this Indenture, except 
 (a) Debt Securities theretofore canceled by the Trustee or the Authenticating Agent or delivered to the Trustee for cancellation;

 (b) Debt Securities, or portions thereof, for the payment or redemption of which moneys in the necessary amount shall have
been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent); provided, that, if such Debt
Securities, or portions thereof, are to be redeemed prior to maturity thereof, notice of such redemption shall have been given as provided in Articles X and XIV or provision satisfactory to the Trustee shall have been made for giving such notice;
and 
 (c) Debt Securities paid pursuant to Section 2.06 or in lieu of or in substitution for which other Debt Securities
shall have been authenticated and delivered pursuant to the terms of Section 2.06 unless proof satisfactory to the Company and the Trustee is presented that any such Debt Securities are held by bona fide holders in due course. 
 “Paying Agent” has the meaning set forth in Section 3.04(e). 
 “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Predecessor
Security” of any particular Debt Security means every previous Debt Security evidencing all or a portion of the same debt as that evidenced by such particular Debt Security; and, for the purposes of this definition, any Debt Security
authenticated and delivered under Section 2.06 in lieu of a lost, destroyed or stolen Debt Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Debt Security. 
 “Principal Office of the Trustee” means the office of the Trustee, at
which at any particular time its corporate trust business shall be principally administered, which at all times shall be located within the United States and at the time of the execution of this Indenture shall be 600 Travis Street, 50th Floor, Houston, Texas 77002. 
 “Redemption Date” has the meaning set forth in Section 10.01. 
  

 -5- 

 “Redemption Price” means 100% of the principal amount of the Debt Securities
being redeemed plus accrued and unpaid interest on such Debt Securities to the Redemption Date. 
 “Responsible
Officer” means, with respect to the Trustee, any officer within the Principal Office of the Trustee with direct responsibility for the administration of the Indenture, including any vice-president, any assistant vice-president, any secretary,
any assistant secretary, the treasurer, any assistant treasurer, any trust officer or other officer of the Principal Office of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of that officer’s knowledge of and familiarity with the particular subject. 
 “Securityholder,” “holder of Debt Securities” or other similar terms, means any Person in whose name at the time a
particular Debt Security is registered on the Debt Security Register. 
 “Senior Indebtedness” means, with respect
to the Company, (i) the principal, premium, if any, and interest in respect of (A) indebtedness of the Company for money borrowed and (B) indebtedness evidenced by securities, debentures, notes, bonds or other similar instruments
issued by the Company; (ii) all capital lease obligations of the Company; (iii) all obligations of the Company issued or assumed as the deferred purchase price of property, all conditional sale obligations of the Company and all
obligations of the Company under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business); (iv) all obligations of the Company for the reimbursement of any letter of credit, any
banker’s acceptance, any security purchase facility, any repurchase agreement or similar arrangement, any interest rate swap, any other hedging arrangement, any obligation under options or any similar credit or other transaction; (v) all
obligations of the type referred to in clauses (i) through (iv) above of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; and (vi) all obligations of the type referred to
in clauses (i) through (v) above of other Persons secured by any lien on any property or asset of the Company (whether or not such obligation is assumed by the Company), whether incurred on or prior to the date of this Indenture or
thereafter incurred, unless, with the prior approval of the Federal Reserve if not otherwise generally approved, it is provided in the instrument creating or evidencing the same or pursuant to which the same is outstanding, that such obligations are
not superior or are pari passu in right of payment to the Debt Securities; provided, however, that Senior Indebtedness shall not include (A) any debt securities issued to any trust other than the Trust (or a trustee of such trust) that is a
financing vehicle of the Company (a “financing entity”), in connection with the issuance by such financing entity of equity or other securities in transactions substantially similar in structure to the transactions contemplated hereunder
and in the Declaration, (B) any guarantees of the Company in respect of the equity or other securities of any financing entity referred to in clause (A) above or (C) any other instruments classified as subordinated or pari
passu to the Debt Securities by the Federal Reserve. 
 “Special Event” means any of a Tax Event, an Investment
Company Event or a Capital Treatment Event. 
  

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 “Special Redemption Date” has the meaning set forth in Section 10.02.

 “Special Redemption Price” means, with respect to the redemption of any Debt Security following a Special Event,
an amount in cash equal to 103.525% of the principal amount of Debt Securities to be redeemed prior to June 15, 2006 and thereafter equal to the percentage of the principal amount of the Debt Securities that is specified below for the Special
Redemption Date plus, in each case, unpaid interest accrued thereon to the Special Redemption Date: 
  

			
	 Special Redemption During the
 12-Month Period Beginning March 15
	  	 Percentage of Principal Amount

	 2006
	  	103.140%
	 2007
	  	102.355%
	 2008
	  	101.570%
	 2009
	  	100.785%
	 2010 and thereafter
	  	100.000%

 “Subsidiary” means, with respect to any Person, (i) any corporation,
at least a majority of the outstanding voting stock of which is owned, directly or indirectly, by such Person or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries, (ii) any general partnership, joint
venture or similar entity, at least a majority of the outstanding partnership or similar interests of which shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries, and
(iii) any limited partnership of which such Person or any of its Subsidiaries is a general partner. For the purposes of this definition, “voting stock” means shares, interests, participations or other equivalents in the equity
interest (however designated) in such Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by
reason of the occurrence of a contingency. 
 “Tax Event” means the receipt by the Company and the Trust of an
Opinion of Counsel experienced in such matters to the effect that, as a result of any amendment to or change (including any announced prospective change) in the laws or any regulations thereunder of the United States or any political subdivision or
taxing authority thereof or therein, or as a result of any official administrative pronouncement (including any private letter ruling, technical advice memorandum, regulatory procedure, notice or announcement (an “Administrative Action”))
or judicial decision interpreting or applying such laws or regulations, regardless of whether such Administrative Action or judicial decision is issued to or in connection with a proceeding involving the Company or the Trust and whether or not
subject to review or appeal, which amendment, clarification, change, Administrative Action or decision is enacted, promulgated or announced, in each case on or after the date of original issuance of the Debt Securities, there is more than an
insubstantial risk that: (i) the Trust is, or will be within 90 days of the date of such opinion, subject to United States federal income tax with respect to income received or accrued on the Debt Securities; (ii) interest payable by the
Company on the Debt Securities is not, or within 90 days of the date of such opinion, will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes; or (iii) the Trust is, or will be within 90

  

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days of the date of such opinion, subject to or otherwise required to pay, or required to withhold from distributions to holders of Trust Securities, more
than a de minimis amount of other taxes (including withholding taxes), duties, assessments or other governmental charges. 
 “Trust” means PB Capital Trust II, the Delaware statutory trust, or any other similar trust created for the purpose of issuing Capital Securities in connection with the issuance of Debt Securities under this Indenture, of which
the Company is the sponsor. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended from
time-to-time, or any successor legislation. 
 “Trust Securities” means Common Securities and Capital Securities of
PB Capital Trust II. 
 “Trustee” means the Person identified as “Trustee” in the first paragraph hereof,
and, subject to the provisions of Article VI hereof, shall also include its successors and assigns as Trustee hereunder. 
 “United States” means the United States of America and the District of Columbia. 
 “U.S. Person”
has the meaning given to United States Person as set forth in Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended. 
 ARTICLE II 
 DEBT SECURITIES 
 SECTION 2.01. Authentication and Dating. 
 Upon the execution and delivery of this Indenture, or from time to
time thereafter, Debt Securities in an aggregate principal amount not in excess of $5,155,000 may be executed and delivered by the Company to the Trustee for authentication, and the Trustee shall thereupon authenticate and make available for
delivery said Debt Securities to or upon the written order of the Company, signed by its Chairman of the Board of Directors, Vice Chairman, President or Chief Financial Officer or one of its Vice Presidents, without any further action by the Company
hereunder. In authenticating such Debt Securities, and accepting the additional responsibilities under this Indenture in relation to such Debt Securities, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall be fully
protected in relying upon a copy of any Board Resolution or Board Resolutions relating thereto and, if applicable, an appropriate record of any action taken pursuant to such resolution, in each case certified by the Secretary or an Assistant
Secretary or other officers with appropriate delegated authority of the Company as the case may be. 
 The Trustee shall have
the right to decline to authenticate and deliver any Debt Securities under this Section if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or if a Responsible Officer of the Trustee in good faith shall
determine that such action would expose the Trustee to personal liability to existing Securityholders. The Trustee shall also be entitled to receive an opinion of counsel to the effect that (1) all conditions 

  

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precedent to the execution, delivery and authentication of the Securities have been complied with; (2) the Securities are not required to be registered
under the Securities Act; and (3) the Indenture is not required to be qualified under the Trust Indenture Act. 
 The
definitive Debt Securities shall be typed, printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Debt Securities, as evidenced by their execution of such
Debt Securities. 
 SECTION 2.02. Form of Trustee’s Certificate of Authentication. 
 The Trustee’s certificate of authentication on all Debt Securities shall be in substantially the following form: 
 This is one of the Debt Securities referred to in the within-mentioned Indenture. 
 JPMorgan Chase Bank, National Association, not in its individual capacity but solely as Trustee 
  

			
		
	By	 	  
		 	Authorized Signatory

 SECTION 2.03. Form and Denomination of Debt Securities. 
 The Debt Securities shall be substantially in the form of Exhibit A hereto. The Debt Securities shall be in registered, certificated form
without coupons and in minimum denominations of $100,000 and any multiple of $1,000 in excess thereof. The Debt Securities shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the officers
executing the same may determine with the approval of the Trustee as evidenced by the execution and authentication thereof. 
 SECTION 2.04.
Execution of Debt Securities. 
 The Debt Securities shall be signed in the name and on behalf of the Company by the
manual or facsimile signature of any of its Chairman of the Board of Directors, Vice Chairman, President or Chief Financial Officer or one of its Executive Vice Presidents, Senior Vice Presidents or Vice Presidents, under its corporate seal (if
legally required), which may be affixed thereto or printed, engraved or otherwise reproduced thereon, by facsimile or otherwise, and which need not be attested. Only such Debt Securities as shall bear thereon a certificate of authentication
substantially in the form herein before recited, executed by the Trustee or the Authenticating Agent by the manual signature of an authorized officer, shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose.
Such certificate by the Trustee or the Authenticating Agent upon any Debt Security executed by the Company shall be conclusive evidence that the Debt Security so authenticated has been duly authenticated and delivered hereunder and that the holder
is entitled to the benefits of this Indenture. 
 In case any officer of the Company who shall have signed any of the Debt
Securities shall cease to be such officer before the Debt Securities so signed shall have been authenticated and delivered by the Trustee or the Authenticating Agent, or disposed of by the 

  

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Company, such Debt Securities nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Debt Securities had not
ceased to be such officer of the Company; and any Debt Security may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Debt Security, shall be the proper officers of the Company, although at the date
of the execution of this Indenture any such person was not such an officer. 
 Every Debt Security shall be dated the date of
its authentication. 
 SECTION 2.05. Exchange and Registration of Transfer of Debt Securities. 
 The Company shall cause to be kept, at the office or agency maintained for the purpose of registration of transfer and for exchange as
provided in Section 3.02, a register (the “Debt Security Register”) for the Debt Securities issued hereunder in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration and
transfer of all Debt Securities as provided in this Article II. Such register shall be in written form or in any other form capable of being converted into written form within a reasonable time. 
 Debt Securities to be exchanged may be surrendered at the Principal Office of the Trustee or at any office or agency to be maintained by
the Company for such purpose as provided in Section 3.02, and the Company shall execute, the Company or the Trustee shall register and the Trustee or the Authenticating Agent shall authenticate and make available for delivery in exchange
therefor the Debt Security or Debt Securities which the Securityholder making the exchange shall be entitled to receive. Upon due presentment for registration of transfer of any Debt Security at the Principal Office of the Trustee or at any office
or agency of the Company maintained for such purpose as provided in Section 3.02, the Company shall execute, the Company or the Trustee shall register and the Trustee or the Authenticating Agent shall authenticate and make available for
delivery in the name of the transferee or transferees a new Debt Security for a like aggregate principal amount. Registration or registration of transfer of any Debt Security by the Trustee or by any agent of the Company appointed pursuant to
Section 3.02, and delivery of such Debt Security, shall be deemed to complete the registration or registration of transfer of such Debt Security. 
 All Debt Securities presented for registration of transfer or for exchange or payment shall (if so required by the Company or the Trustee or the Authenticating Agent) be duly endorsed by, or be accompanied by, a
written instrument or instruments of transfer in form satisfactory to the Company and either the Trustee or the Authenticating Agent duly executed by, the holder or such holder’s attorney duly authorized in writing. 
 No service charge shall be made for any exchange or registration of transfer of Debt Securities, but the Company or the Trustee may
require payment of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in connection therewith. 
 The Company or the Trustee shall not be required to exchange or register a transfer of any Debt Security for a period of 15 days immediately preceding the date of selection of Debt Securities for redemption. 
  

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 Notwithstanding the foregoing, Debt Securities may not be transferred except in
compliance with the restricted securities legend set forth below, unless otherwise determined by the Company in accordance with applicable law, which legend shall be placed on each Debt Security: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS OR ANY OTHER APPLICABLE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION
OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY ONLY (A) TO THE
COMPANY, (B) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) TO A “NON U.S. PERSON” IN AN “OFFSHORE TRANSACTION” PURSUANT TO REGULATION S UNDER THE
SECURITIES ACT, (D) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3) OR (7) OF RULE 501 UNDER THE
SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN “ACCREDITED INVESTOR,” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION
OF THE SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR
(E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN ACCORDANCE WITH THE INDENTURE, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE
HEREOF AGREES THAT IT WILL COMPLY WITH THE FOREGOING RESTRICTIONS. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF
AGREES, REPRESENTS AND WARRANTS THAT IT WILL NOT ENGAGE IN HEDGING TRANSACTIONS INVOLVING THIS SECURITY UNLESS SUCH TRANSACTIONS ARE IN COMPLIANCE WITH THE SECURITIES ACT. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT, INDIVIDUAL
RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 

  

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1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (EACH A “PLAN”), OR
AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST THEREIN, UNLESS
SUCH PURCHASER OR HOLDER IS ELIGIBLE FOR THE EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS
SECURITY IS NOT PROHIBITED BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE OR HOLDING. ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING
THEREOF THAT EITHER (i) IT IS NOT AN EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN,
OR ANY OTHER PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH PURCHASE, OR (ii) SUCH PURCHASE WILL NOT RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH
THERE IS NO APPLICABLE STATUTORY OR ADMINISTRATIVE EXEMPTION. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER OF THIS SECURITY
WILL DELIVER TO THE COMPANY AND TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS MAY BE REQUIRED BY THE INDENTURE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 THIS SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN BLOCKS HAVING A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND MULTIPLES OF
$1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN A BLOCK HAVING A PRINCIPAL AMOUNT OF LESS THAN $100,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE
HOLDER OF THIS SECURITY FOR ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS SECURITY, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN THIS SECURITY. 
 THIS OBLIGATION IS NOT A DEPOSIT AND IS NOT INSURED BY THE UNITED STATES OR ANY AGENCY OR FUND OF THE UNITED STATES, INCLUDING THE FEDERAL
DEPOSIT INSURANCE CORPORATION. THIS OBLIGATION IS SUBORDINATED TO THE CLAIMS OF DEPOSITORS AND THE CLAIMS OF GENERAL AND SECURED CREDITORS OF THE COMPANY, IS INELIGIBLE AS COLLATERAL FOR A LOAN BY THE COMPANY OR ANY OF ITS SUBSIDIARIES AND IS NOT
SECURED. 
  

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 SECTION 2.06. Mutilated, Destroyed, Lost or Stolen Debt Securities. 
 In case any Debt Security shall become mutilated or be destroyed, lost or stolen, the Company shall execute, and upon its written request
the Trustee shall authenticate and deliver, a new Debt Security bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Debt Security, or in lieu of and in substitution for the Debt Security so destroyed,
lost or stolen. In every case the applicant for a substituted Debt Security shall furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of such Debt Security and of the ownership thereof. 
 The Trustee may authenticate any such substituted Debt Security and deliver the same upon the written request or authorization of any
officer of the Company. Upon the issuance of any substituted Debt Security, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses
connected therewith. In case any Debt Security which has matured or is about to mature or has been called for redemption in full shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Debt Security,
pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Debt Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as may be required by them
to save each of them harmless and, in case of destruction, loss or theft, evidence satisfactory to the Company and to the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 
 Every substituted Debt Security issued pursuant to the provisions of this Section 2.06 by virtue of the fact that any such Debt
Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Debt Securities duly issued hereunder. All Debt Securities shall be held and owned upon the express condition that, to the extent permitted by applicable law, the foregoing provisions are
exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary
with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 
 SECTION 2.07.
Temporary Debt Securities. 
 Pending the preparation of definitive Debt Securities, the Company may execute and the
Trustee shall authenticate and make available for delivery temporary Debt Securities that are typed, printed or lithographed. Temporary Debt Securities shall be issuable in any authorized denomination, and substantially in the form of the definitive
Debt Securities but with such omissions, insertions and variations as may be appropriate for temporary Debt Securities, all as may be determined by the Company. Every such temporary Debt Security shall be executed by the Company and be authenticated
by the Trustee upon the same conditions and in substantially the same manner, and with the same effect, as the definitive Debt Securities. Without 

  

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unreasonable delay, the Company will execute and deliver to the Trustee or the Authenticating Agent definitive Debt Securities and thereupon any or all
temporary Debt Securities may be surrendered in exchange therefor, at the Principal Office of the Trustee or at any office or agency maintained by the Company for such purpose as provided in Section 3.02, and the Trustee or the Authenticating
Agent shall authenticate and make available for delivery in exchange for such temporary Debt Securities a like aggregate principal amount of such definitive Debt Securities. Such exchange shall be made by the Company at its own expense and without
any charge therefor except that in case of any such exchange involving a registration of transfer the Company may require payment of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in relation thereto. Until
so exchanged, the temporary Debt Securities shall in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities authenticated and delivered hereunder. 
 SECTION 2.08. Payment of Interest. 
 Each Debt Security will bear interest at the then applicable Interest Rate from and including each Interest Payment Date or, in the case of the first Interest Payment Period, the original date of issuance of such Debt
Security to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as applicable, on the principal thereof, on any overdue
principal and (to the extent that payment of such interest is enforceable under applicable law) on Deferred Interest and on any overdue installment of interest (including Defaulted Interest), payable (subject to the provisions of Article XII) on
each Interest Payment Date commencing on June 15, 2005. Interest and any Deferred Interest on any Debt Security that is payable, and is punctually paid or duly provided for by the Company, on any Interest Payment Date shall be paid to the
Person in whose name said Debt Security (or one or more Predecessor Securities) is registered at the close of business on the regular record date for such interest installment, except that interest and any Deferred Interest payable on the Maturity
Date shall be paid to the Person to whom principal is paid. In the event that any Debt Security or portion thereof is called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date and
either on or prior to such Interest Payment Date, interest on such Debt Security will be paid upon presentation and surrender of such Debt Security. 
 Any interest on any Debt Security, other than Deferred Interest, that is payable, but is not punctually paid or duly provided for by the Company, on any Interest Payment Date (herein called “Defaulted
Interest”) shall forthwith cease to be payable to the registered holder on the relevant regular record date by virtue of having been such holder, and such Defaulted Interest shall be paid by the Company to the Persons in whose names such Debt
Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each such Debt Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of
the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a special record date for the 

  

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payment of such Defaulted Interest which shall not be more than fifteen nor less than ten days prior to the date of the proposed payment and not less than
ten days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the expense of the Company, shall cause notice of the proposed payment
of such Defaulted Interest and the special record date therefor to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Debt Security Register, not less than ten days prior to such special record
date. Notice of the proposed payment of such Defaulted Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities (or their respective
Predecessor Securities) are registered on such special record date and thereafter the Company shall have no further payment obligation in respect of the Defaulted Interest. 
 Any interest scheduled to become payable on an Interest Payment Date occurring during an Extension Period shall not be Defaulted Interest
and shall be payable on such other date as may be specified in the terms of such Debt Securities. 
 The term “regular
record date” as used in this Indenture shall mean the fifteenth day prior to the applicable Interest Payment Date whether or not such date is a Business Day. 
 Subject to the foregoing provisions of this Section, each Debt Security delivered under this Indenture upon registration of transfer of or
in exchange for or in lieu of any other Debt Security shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Debt Security. 
 SECTION 2.09. Cancellation of Debt Securities Paid, etc. 
 All Debt Securities
surrendered for the purpose of payment, redemption, exchange or registration of transfer, shall, if surrendered to the Company or any Paying Agent, be surrendered to the Trustee and promptly canceled by it, or, if surrendered to the Trustee, shall
be promptly canceled by it, and no Debt Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of all canceled Debt Securities in accordance with its customary
practices, unless the Company otherwise directs the Trustee in writing, in which case the Trustee shall dispose of such Debt Securities as directed by the Company. If the Company shall acquire any of the Debt Securities, however, such acquisition
shall not operate as a redemption or satisfaction of the indebtedness represented by such Debt Securities unless and until the same are surrendered to the Trustee for cancellation. 
 SECTION 2.10. Computation of Interest. 
 (a) The amount of interest payable for any Interest Payment Period will be computed on the basis of a 360-day year and the actual number of days elapsed in the relevant interest period; provided,
however, that upon the occurrence of a Special Event Redemption pursuant to Section 10.02 the amounts payable pursuant to this Indenture shall be calculated as set forth in the definition of Special Redemption Price. 
  

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 (b) LIBOR, for any Interest Payment Period, shall be determined by the Calculation Agent
in accordance with the following provisions: 
 (1) On the second LIBOR Business Day (provided, that on such day commercial
banks are open for business (including dealings in foreign currency deposits) in London (a “LIBOR Banking Day”), and otherwise the next preceding LIBOR Business Day that is also a LIBOR Banking Day) prior to
March 15, June 15, September 15 and December 15 (or, with respect to the first Interest Payment Period, on March 25, 2005) (each such day, a “LIBOR Determination Date” for the following Interest Payment
Period), the Calculation Agent shall obtain the rate for three-month U.S. Dollar deposits in Europe, which appears on Telerate Page 3750 (as defined in the International Swaps and Derivatives Association, Inc. 2000 Interest Rate and Currency
Exchange Definitions) or such other page as may replace such Telerate Page 3750 on the Moneyline Telerate, Inc. service (or such other service or services as may be nominated by the British Banker’s Association as the information vendor for the
purpose of displaying London Interbank offered rates for U.S. dollar deposits), as of 11:00 a.m. (London time) on such LIBOR Determination Date, and the rate so obtained shall be LIBOR for such Interest Payment Period. “LIBOR Business Day”
means any day that is not a Saturday, Sunday or other day on which commercial banking institutions in The City of New York or Wilmington, Delaware are authorized or obligated by law or executive order to be closed. If such rate is superseded on
Telerate Page 3750 by a corrected rate before 12:00 noon (London time) on the same LIBOR Determination Date, the corrected rate as so substituted will be LIBOR for that Interest Payment Period. 
 (2) If, on any LIBOR Determination Date, such rate does not appear on Telerate Page 3750 or such other page as may replace such Telerate
Page 3750 on the Moneyline Telerate, Inc. service (or such other service or services as may be nominated by the British Banker’s Association as the information vendor for the purpose of displaying London Interbank offered rates for U.S. dollar
deposits), the Calculation Agent shall determine the arithmetic mean of the offered quotations of the Reference Banks (as defined below) to leading banks in the London Interbank market for three-month U.S. Dollar deposits in Europe (in an
amount determined by the Calculation Agent) by reference to requests for quotations as of approximately 11:00 a.m. (London time) on the LIBOR Determination Date made by the Calculation Agent to the Reference Banks. If, on any LIBOR Determination
Date, at least two of the Reference Banks provide such quotations, LIBOR shall equal the arithmetic mean of such quotations. If, on any LIBOR Determination Date, only one or none of the Reference Banks provide such a quotation, LIBOR shall be deemed
to be the arithmetic mean of the offered quotations that at least two leading banks in the City of New York (as selected by the Calculation Agent) are quoting on the relevant LIBOR Determination Date for three-month U.S. Dollar deposits in
Europe at approximately 11:00 a.m. (London time) (in an amount determined by the Calculation Agent). As used herein, “Reference Banks” means four major banks in the London Interbank market selected by the Calculation Agent. 
  

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 (3) If the Calculation Agent is required but is unable to determine a rate in accordance
with at least one of the procedures provided above, LIBOR for the applicable Interest Payment Period shall be LIBOR in effect for the immediately preceding Interest Payment Period. 
 (c) All percentages resulting from any calculations on the Debt Securities will be rounded, if necessary, to the nearest one
hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655)), and all dollar amounts used in or resulting from such calculation will
be rounded to the nearest cent (with one-half cent being rounded upward). 
 (d) On each LIBOR Determination Date, the
Calculation Agent shall notify, in writing, the Company and the Paying Agent of the applicable Interest Rate in effect for the related Interest Payment Period. The Calculation Agent shall, upon the request of the holder of any Debt Securities,
provide the Interest Rate then in effect. All calculations made by the Calculation Agent in the absence of manifest error shall be conclusive for all purposes and binding on the Company and the Holders of the Debt Securities. The Paying Agent shall
be entitled to rely on information received from the Calculation Agent or the Company as to the Interest Rate. The Company shall, from time to time, provide any necessary information to the Paying Agent relating to any original issue discount and
interest on the Debt Securities that is included in any payment and reportable for taxable income calculation purposes. 
 SECTION 2.11.
Extension of Interest Payment Period. 
 As long as it is acting in good faith, the Company shall have the right, from
time to time and without causing an Event of Default, to defer payments of interest on the Debt Securities by extending the interest distribution period on the Debt Securities at any time and from time to time during the term of the Debt Securities,
for up to twenty consecutive quarterly periods (each such extended interest distribution period, an “Extension Period”), during which Extension Period no interest shall be due and payable (except any Additional Interest that may be due and
payable). No Extension Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date, any Redemption Date or any Special Redemption Date, as the case may be. During any Extension Period, interest will continue to
accrue on the Debt Securities, and interest on such accrued interest (such accrued interest and interest thereon referred to herein as “Deferred Interest”) will accrue at an annual rate equal to the Interest Rate applicable during such
Extension Period, compounded quarterly from the date such Deferred Interest would have been payable were it not for the Extension Period, to the extent permitted by law. No interest or Deferred Interest shall be due and payable during an Extension
Period, except at the end thereof. At the end of any such Extension Period the Company shall pay all Deferred Interest then accrued and unpaid on the Debt Securities; provided, however, that no Extension Period may extend beyond the
Maturity Date; and provided further, however, that during any such Extension Period, the Company shall be subject to the restrictions set forth in Section 3.08 of this Indenture. Prior to the termination of any Extension
Period, the Company may further extend such period, provided, that such period together with all such previous and further consecutive extensions thereof shall not exceed twenty consecutive quarterly periods, or extend beyond the Maturity
Date. Upon the termination of any Extension Period and upon the payment of all Deferred Interest, the Company may commence a new Extension Period, subject to the 

  

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foregoing requirements. The Company must give the Trustee notice of its election to begin such Extension Period (“Notice”) not later than the
related regular record date. The Notice shall describe, in reasonable detail, why the Company has elected to begin an Extension Period. The Notice shall acknowledge and affirm the Company’s understanding that it is prohibited from issuing
dividends and other distributions during the Extension Period. Upon receipt of the Notice, an Initial Purchaser shall have the right, at its sole discretion, to disclose the name of the Company, the fact that the Company has elected to begin an
Extension Period and other information that such Initial Purchaser, at its sole discretion, deems relevant to the Company’s election to begin an Extension Period. The Trustee shall give notice of the Company’s election to begin a new
Extension Period to the Securityholders. 
 SECTION 2.12. CUSIP Numbers. 
 The Company in issuing the Debt Securities may use a “CUSIP” number (if then generally in use), and, if so, the Trustee shall
use a “CUSIP” number in notices of redemption as a convenience to Securityholders; provided, that any such notice may state that no representation is made as to the correctness of such number either as printed on the Debt Securities
or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Debt Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The
Company will promptly notify the Trustee in writing of any change in the CUSIP number. 
 ARTICLE III 
 PARTICULAR COVENANTS OF THE COMPANY 
 SECTION
3.01. Payment of Principal, Premium and Interest; Agreed Treatment of the Debt Securities. 
 (a) The Company covenants
and agrees that it will duly and punctually pay or cause to be paid all payments due on the Debt Securities at the place, at the respective times and in the manner provided in this Indenture and the Debt Securities. At the option of the Company,
each installment of interest on the Debt Securities may be paid (i) by mailing checks for such interest payable to the order of the holders of Debt Securities entitled thereto as they appear on the Debt Security Register or (ii) by wire
transfer to any account with a banking institution located in the United States designated by such holders to the Paying Agent no later than the related record date. Notwithstanding anything to the contrary contained in this Indenture or any Debt
Security, if the Trust or the Trustee of the Trust is the holder of any Debt Security, then all payments in respect of such Debt Security shall be made by the Company in immediately available funds when due. 
 (b) The Company will treat the Debt Securities as indebtedness, and the interest payable in respect of such Debt Securities as interest,
for all U.S. federal income tax purposes. As a condition to the payment of any principal of or interest on any Debt Security without the imposition of withholding tax, the Company shall require the previous delivery of properly completed and signed
applicable U.S. federal income tax certifications (generally, an Internal Revenue Service Form W-9 (or applicable successor form) in the case of a Person that is 

  

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a U.S. Person or an Internal Revenue Service Form W-8 (or applicable successor form) in the case of a Person that is not a U.S. Person and any other
certification acceptable to it to enable the Company and the Trustee to determine their respective duties and liabilities with respect to any taxes or other charges that they may be required to pay or withhold in respect of such Debt Security or the
holder of such Debt Security under any present or future law or regulation of the United States or any political subdivision thereof or taxing authority therein or to comply with any reporting or other requirements under any such law or regulation.

 (c) As of the date of this Indenture, the Company represents that it has no intention to exercise its right under
Section 2.11 to defer payments of interest on the Debt Securities by commencing an Extension Period. 
 SECTION 3.02. Offices for
Notices and Payments, etc. 
 So long as any of the Debt Securities remain outstanding, the Company will maintain in New
York, New York an office or agency where the Debt Securities may be presented for payment, an office or agency where the Debt Securities may be presented for registration of transfer and for exchange as provided in this Indenture and an office or
agency where notices and demands to or upon the Company in respect of the Debt Securities or of this Indenture may be served. The Company hereby appoints the Trustee at ITS Unit Trust Window, 4 New York Plaza, Ground Floor, New York, New York
10004, attention: ITS (Houston) – PB Capital Trust II as such office or agency. In case the Company shall fail to maintain any such office or agency in New York, New York or shall fail to give such notice of the location or of any change in the
location thereof, presentations and demands may be made and notices may be served at the Principal Office of the Trustee. 
 In addition to any such office or agency, the Company may from time to time designate one or more other offices or agencies where the Debt Securities may be presented for registration of transfer and for exchange in the manner provided in
this Indenture, and the Company may from time to time rescind such designation, as the Company may deem desirable or expedient; provided, however, that no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain any such office or agency in New York, New York for the purposes above mentioned. The Company will give to the Trustee prompt written notice of any such designation or rescission thereof. 
 SECTION 3.03. Appointments to Fill Vacancies in Trustee’s Office. 
 The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 6.09, a Trustee, so that there shall at all times be a Trustee hereunder. 
 SECTION 3.04. Provision as to Paying Agent.

 (a) If the Company shall appoint a Paying Agent other than the Trustee, it will cause such Paying Agent to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provision of this Section 3.04: 
 (1) that it will hold all sums held by it as such agent for the payment of all payments due on the Debt Securities (whether such sums have been paid to it by the Company or by any other obligor on the Debt Securities)
in trust for the benefit of the holders of the Debt Securities; 
  

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 (2) that it will give the Trustee prompt written notice of any failure by the Company (or
by any other obligor on the Debt Securities) to make any payment on the Debt Securities when the same shall be due and payable; and 
 (3) that it will, at any time during the continuance of any Event of Default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 (b) If the Company shall act as its own Paying Agent, it will, on or before each due date of the payments due on the Debt Securities, set
aside, segregate and hold in trust for the benefit of the holders of the Debt Securities a sum sufficient to pay such payments so becoming due and will notify the Trustee in writing of any failure to take such action and of any failure by the
Company (or by any other obligor under the Debt Securities) to make any payment on the Debt Securities when the same shall become due and payable. 
 Whenever the Company shall have one or more Paying Agents for the Debt Securities, it will, on or prior to each due date of the payments on the Debt Securities, deposit with a Paying Agent a sum sufficient to pay all
payments so becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto and (unless such Paying Agent is the Trustee) the Company shall promptly notify the Trustee in writing of its action or failure to act.

 (c) Anything in this Section 3.04 to the contrary notwithstanding, the Company may, at any time, for the purpose of
obtaining a satisfaction and discharge with respect to the Debt Securities, or for any other reason, pay, or direct any Paying Agent to pay to the Trustee all sums held in trust by the Company or any such Paying Agent, such sums to be held by the
Trustee upon the same terms and conditions herein contained. 
 (d) Anything in this Section 3.04 to the contrary
notwithstanding, the agreement to hold sums in trust as provided in this Section 3.04 is subject to Sections 12.03 and 12.04. 
 (e) The Company hereby initially appoints the Trustee to act as Paying Agent (the “Paying Agent”). 
 SECTION 3.05.
Certificate to Trustee. 
 The Company will deliver to the Trustee on or before 120 days after the end of each fiscal
year, so long as Debt Securities are outstanding hereunder, a Certificate stating that in the course of the performance by the signers of their duties as officers of the Company they would normally have knowledge of any default by the Company in the
performance of any covenants of the Company contained herein, stating whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge and the nature thereof. 
  

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 SECTION 3.06. Additional Interest. 
 If and for so long as the Trust is the holder of all Debt Securities and is subject to or otherwise required to pay, or is required to withhold from
distributions to holders of Trust Securities, any additional taxes (including withholding taxes), duties, assessments or other governmental charges as a result of a Tax Event, the Company will pay such additional amounts (the “Additional
Interest”) on the Debt Securities as shall be required so that the net amounts received and retained by the Trust for distribution to holders of Trust Securities after paying all taxes (including withholding taxes), duties, assessments or other
governmental charges will be equal to the amounts the Trust would have received and retained for distribution to holders of Trust Securities after paying all taxes (including withholding taxes on distributions to holders of Trust Securities),
duties, assessments or other governmental charges if no such additional taxes, duties, assessments or other governmental charges had been imposed. Whenever in this Indenture or the Debt Securities there is a reference in any context to the payment
of principal of or premium, if any, or interest on the Debt Securities, such mention shall be deemed to include mention of payments of the Additional Interest provided for in this paragraph to the extent that, in such context, Additional Interest
is, was or would be payable in respect thereof pursuant to the provisions of this paragraph and express mention of the payment of Additional Interest (if applicable) in any provisions hereof shall not be construed as excluding Additional Interest in
those provisions hereof where such express mention is not made; provided, however, that, notwithstanding anything to the contrary contained in this Indenture or any Debt Security, the deferral of the payment of interest during an
Extension Period pursuant to Section 2.11 shall not defer the payment of any Additional Interest that may be due and payable. 
 SECTION
3.07. Compliance with Consolidation Provisions. 
 The Company will not, while any of the Debt Securities remain outstanding,
consolidate with, or merge into any other Person, or merge into itself, or sell, convey, transfer or otherwise dispose of all or substantially all of its property or capital stock to any other Person unless the provisions of Article XI hereof are
complied with. 
 SECTION 3.08. Limitation on Dividends. 
 If Debt Securities are initially issued to the Trust or a trustee of such Trust in connection with the issuance of Trust Securities by the Trust (regardless of whether Debt Securities continue to be held by such
Trust) and (i) there shall have occurred and be continuing an Event of Default, (ii) the Company shall be in default with respect to its payment of any obligations under the Capital Securities Guarantee or (iii) the Company shall have
given notice of its election to defer payments of interest on the Debt Securities by extending the interest distribution period as provided herein and such period, or any extension thereof, shall have commenced and be continuing, then the Company
may not (A) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock or (B) make any payment of principal of or interest or
premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari passu in all respects with or junior in interest to the Debt Securities or (C) make any payment under any guarantees of the Company that
rank pari passu in all respects with or junior in interest to the Capital Securities Guarantee (other than (a) repurchases, redemptions or other 

  

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acquisitions of shares of capital stock of the Company (I) in connection with any employment contract, benefit plan or other similar arrangement with or
for the benefit of one or more employees, officers, directors or consultants, (II) in connection with a dividend reinvestment or stockholder stock purchase plan or (III) in connection with the issuance of capital stock of the Company (or securities
convertible into or exercisable for such capital stock), as consideration in an acquisition transaction entered into prior to the occurrence of (i), (ii) or (iii) above, (b) as a result of any exchange, reclassification, combination
or conversion of any class or series of the Company’s capital stock (or any capital stock of a subsidiary of the Company) for any class or series of the Company’s capital stock or of any class or series of the Company’s indebtedness
for any class or series of the Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being
converted or exchanged, (d) any declaration of a dividend in connection with any stockholder’s rights plan, or the issuance of rights, stock or other property under any stockholder’s rights plan, or the redemption or repurchase of
rights pursuant thereto, or (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the
dividend is being paid or ranks pari passu with or junior to such stock). 
 SECTION 3.09. Covenants as to the Trust.

 For so long as such Trust Securities remain outstanding, the Company shall maintain 100% ownership of the Common Securities;
provided, however, that any permitted successor of the Company under this Indenture that is a U.S. Person may succeed to the Company’s ownership of such Common Securities. The Company, as owner of the Common Securities, shall use
commercially reasonable efforts to cause the Trust (a) to remain a statutory trust, except in connection with a distribution of Debt Securities to the holders of Trust Securities in liquidation of the Trust, the redemption of all of the Trust
Securities or certain mergers, consolidations or amalgamations, each as permitted by the Declaration, (b) to otherwise continue to be classified as a grantor trust for United States federal income tax purposes and (c) to cause each holder
of Trust Securities to be treated as owning an undivided beneficial interest in the Debt Securities. 
 ARTICLE IV 
 LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE 
 SECTION 4.01. Securityholders’ Lists. 
 The Company covenants and agrees that it will furnish or cause
to be furnished to the Trustee: 
 (a) on each regular record date for an Interest Payment Date, a list, in such form as the
Trustee may reasonably require, of the names and addresses of the Securityholders of the Debt Securities as of such record date; and 
 (b) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a 

  

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date not more than 15 days prior to the time such list is furnished, except that no such lists need be furnished under this Section 4.01 so long as the
Trustee is in possession thereof by reason of its acting as Debt Security registrar. 
 SECTION 4.02. Preservation and Disclosure of
Lists. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the
names and addresses of the holders of Debt Securities (1) contained in the most recent list furnished to it as provided in Section 4.01 or (2) received by it in the capacity of Debt Securities registrar (if so acting) hereunder. The
Trustee may destroy any list furnished to it as provided in Section 4.01 upon receipt of a new list so furnished. 
 (b)
In case three or more holders of Debt Securities (hereinafter referred to as “applicants”) apply in writing to the Trustee and furnish to the Trustee reasonable proof that each such applicant has owned a Debt Security for a period of at
least six months preceding the date of such application, and such application states that the applicants desire to communicate with other holders of Debt Securities with respect to their rights under this Indenture or under such Debt Securities and
is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall within five Business Days after the receipt of such application, at the election of the Company, either:

 (1) afford such applicants access to the information preserved at the time by the Trustee in accordance with the provisions
of subsection (a) of this Section 4.02, or 
 (2) inform such applicants as to the approximate number of holders of
Debt Securities whose names and addresses appear in the information preserved at the time by the Trustee in accordance with the provisions of subsection (a) of this Section 4.02, and as to the approximate cost of mailing to such
Securityholders the form of proxy or other communication, if any, specified in such application. 
 If the Company shall elect
not to afford such applicants access to such information, the Trustee shall, upon the written request of such applicants, mail to each Securityholder of Debt Securities whose name and address appear in the information preserved at the time by the
Trustee in accordance with the provisions of subsection (a) of this Section 4.02 a copy of the form of proxy or other communication which is specified in such request with reasonable promptness after a tender to the Trustee of the material
to be mailed and of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five days after such tender, the Trustee shall mail to such applicants, and file with the Securities and Exchange Commission, if
permitted or required by applicable law, together with a copy of the material to be mailed, a written statement of the Company to the effect that such mailing would be contrary to the best interests of the holders of all Debt Securities, as the case
may be, or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If said Commission, as permitted or required by applicable law, after opportunity for a hearing upon the objections specified in the
written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections, said 

  

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Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring,
the Trustee shall mail copies of such material to all such Securityholders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants
respecting their application. 
 (c) Each and every holder of Debt Securities, by receiving and holding the same, agrees with
the Company and the Trustee that neither the Company nor the Trustee nor any Paying Agent shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the holders of Debt Securities in accordance
with the provisions of subsection (b) of this Section 4.02, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made
under said subsection (b). 
 ARTICLE V 
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF 
 DEFAULT 
 SECTION 5.01. Events of Default. 
 The following events shall be “Events of Default” with respect to Debt Securities: 
 (a) the Company defaults in the payment of any interest upon any Debt Security when it becomes due and payable (unless the Company has elected and may defer interest payments pursuant to Section 2.11), and continuance of such default
for a period of 30 days; for the avoidance of doubt, an extension of any interest distribution period by the Company in accordance with Section 2.11 of this Indenture shall not constitute a default under this clause 5.01(a); or 
 (b) the Company defaults in the payment of all or any part of the principal of (or premium, if any, on) any Debt Securities as and when
the same shall become due and payable either at maturity, upon redemption, by declaration of acceleration pursuant to Section 5.01 of this Indenture or otherwise; or 
 (c) the Company defaults in the payment of any interest upon any Debt Security when it becomes due and payable following the nonpayment of
any such interest for 20 or more consecutive quarterly periods; or 
 (d) the Company defaults in the performance of, or
breaches, any of its covenants or agreements in Sections 3.06, 3.07, 3.08 or 3.09 of this Indenture (other than a covenant or agreement a default in whose performance or whose breach is elsewhere in this Section specifically dealt with), and
continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the holders of not less than 25% in aggregate principal
amount of the outstanding Debt Securities, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 
  

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 (e) a court having jurisdiction in the premises shall enter a decree or order for relief
in respect of the Company in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appoints a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the
Company or for any substantial part of its property, or orders the winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days; or 
 (f) the Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in
effect, shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar
official) of the Company or of any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due; or 
 (g) the Trust shall have voluntarily or involuntarily liquidated, dissolved, wound-up its business or otherwise terminated its existence
except in connection with (1) the distribution of the Debt Securities to holders of the Trust Securities in liquidation of their interests in the Trust, (2) the redemption of all of the outstanding Trust Securities or (3) certain
mergers, consolidations or amalgamations, each as permitted by the Declaration. 
 If an Event of Default specified under
clause (c) of this Section 5.01 occurs and is continuing with respect to the Debt Securities, then, and in each and every such case, unless the principal of the Debt Securities shall have already become due and payable, either the Trustee
or the holders of not less than 25% in aggregate principal amount of the Debt Securities then outstanding hereunder, by notice in writing to the Company (and to the Trustee if given by Securityholders), may declare the entire principal of the Debt
Securities and any premium and interest accrued, but unpaid, thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable. If an Event of Default specified under clause
(e) or (f) of this Section 5.01 occurs, then, in each and every such case, the entire principal amount of the Debt Securities and any premium and interest accrued, but unpaid, thereon shall ipso facto become immediately due and
payable without further action. Notwithstanding anything to the contrary in this Section 5.01, if at any time during the period in which this Indenture remains in force and effect, the Company ceases or elects to cease to be subject to the
supervision and regulations of the Federal Reserve, OTS, OCC or similar regulatory authority overseeing bank, thrift, savings and loan or financial holding companies or similar institutions requiring specifications for the treatment of capital
similar in nature to the capital adequacy guidelines under the Federal Reserve rules and regulations, then the first sentence of this paragraph shall be deemed to include clauses (a), (b) and (d) under this Section 5.01 as an Event of
Default resulting in an acceleration of payment of the Debt Securities to the same extent as provided herein for clause (c). 
 With respect to clause (d) of this Section 5.01, the Company agrees that in the event of a breach by the Company of its covenants or agreements mentioned therein, any remedy at law or in damages may prove inadequate and therefore
the Company agrees that the Trustee shall be entitled to injunctive relief against the Company in the event of any breach or threatened breach by the Company, in addition to any other relief (including damages) available to the Trustee under this
Indenture or under law. 
  

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 The foregoing provisions, however, are subject to the condition that if, at any time
after the principal of the Debt Securities shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, (i) the Company shall pay
or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest upon all the Debt Securities and all payments on the Debt Securities which shall have become due otherwise than by acceleration (with interest upon all
such payments and Deferred Interest, to the extent permitted by law) and such amount as shall be sufficient to cover reasonable compensation to the Trustee and each predecessor Trustee, their respective agents, attorneys and counsel, and all other
amounts due to the Trustee pursuant to Section 6.06, if any, and (ii) all Events of Default under this Indenture, other than the non-payment of the payments on Debt Securities which shall have become due by acceleration, shall have been
cured, waived or otherwise remedied as provided herein, and in each and every such case the holders of a majority in aggregate principal amount of the Debt Securities then outstanding, by written notice to the Company and to the Trustee, may waive
all defaults and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon; provided, however, that if
the Debt Securities are held by the Trust or a trustee of the Trust, such waiver or rescission and annulment shall not be effective until the holders of a majority in aggregate liquidation amount of the outstanding Capital Securities of the Trust
shall have consented to such waiver or rescission and annulment. 
 In case the Trustee shall have proceeded to enforce any
right under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the
Company, the Trustee and the holders of the Debt Securities shall be restored respectively to their several positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the holders of the Debt Securities shall
continue as though no such proceeding had been taken. 
 SECTION 5.02. Payment of Debt Securities on Default; Suit Therefor.

 The Company covenants that upon the occurrence of an Event of Default pursuant to clause 5.01(a), 5.01(b) or 5.01(c), and
upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Debt Securities, the whole amount that then shall have become due and payable on all Debt Securities including Deferred Interest accrued on the
Debt Securities; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including a reasonable compensation to the Trustee, its agents, attorneys and counsel, and any other amounts due to
the Trustee under Section 6.06. In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any actions or
proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor
on such Debt Securities and collect in the manner provided by law out of the property of the Company or any other obligor on such Debt Securities wherever situated the moneys adjudged or decreed to be payable. 
  

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 In case there shall be pending proceedings for the bankruptcy or for the reorganization
of the Company or any other obligor on the Debt Securities under Bankruptcy Law, or in case a receiver or trustee shall have been appointed for the property of the Company or such other obligor, or in the case of any other similar judicial
proceedings relative to the Company or other obligor upon the Debt Securities, or to the creditors or property of the Company or such other obligor, the Trustee, irrespective of whether the principal of the Debt Securities shall then be due and
payable as therein expressed or by declaration of acceleration or otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section 5.02, shall be entitled and empowered, by intervention in
such proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Debt Securities and, in case of any judicial proceedings, to file such proofs of claim and other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for
reimbursement of all other amounts due to the Trustee under Section 6.06) and of the Securityholders allowed in such judicial proceedings relative to the Company or any other obligor on the Debt Securities, or to the creditors or property of
the Company or such other obligor, unless prohibited by applicable law and regulations, to vote on behalf of the holders of the Debt Securities in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other
bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute the same after the deduction
of its charges and expenses; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Securityholders 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 Securityholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all
other amounts due to the Trustee under Section 6.06. 
 Nothing herein contained shall be construed to authorize the
Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities or the rights of any holder thereof or to authorize the Trustee to
vote in respect of the claim of any Securityholder in any such proceeding. 
 All rights of action and of asserting claims
under this Indenture, or under any of the Debt Securities, may be enforced by the Trustee without the possession of any of the Debt Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall be for the ratable benefit of the holders of the Debt Securities. 
 In any proceedings brought by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to
which the Trustee shall be a party) the Trustee shall be held to represent all the holders of the Debt Securities, and it shall not be necessary to make any holders of the Debt Securities parties to any such proceedings. 
  

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 SECTION 5.03. Application of Moneys Collected by Trustee. 
 Any moneys collected by the Trustee shall be applied in the following order, at the date or dates fixed by the Trustee for the
distribution of such moneys, upon presentation of the several Debt Securities in respect of which moneys have been collected, and stamping thereon the payment, if only partially paid, and upon surrender thereof if fully paid: 
 First: To the payment of costs and expenses incurred by, and reasonable fees of, the Trustee, its agents, attorneys and counsel, and of
all other amounts due to the Trustee under Section 6.06; 
 Second: To the payment of all Senior Indebtedness of the
Company if and to the extent required by Article XV; 
 Third: To the payment of the amounts then due and unpaid upon Debt
Securities, in respect of which or for the benefit of which money has been collected, ratably, without preference or priority of any kind, according to the amounts due on such Debt Securities; and 
 Fourth: The balance, if any, to the Company. 
 SECTION 5.04. Proceedings by Securityholders. 
 No holder of any Debt Security shall
have any right to institute any suit, action or proceeding for any remedy hereunder, unless such holder previously shall have given to the Trustee written notice of an Event of Default with respect to the Debt Securities and unless the holders of
not less than 25% in aggregate principal amount of the Debt Securities then outstanding shall have given the Trustee a written request to institute such action, suit or proceeding and shall have offered to the Trustee such reasonable indemnity as it
may require against the costs, expenses and liabilities to be incurred thereby, and the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action, suit or proceeding;
provided, that no holder of Debt Securities shall have any right to prejudice the rights of any other holder of Debt Securities, obtain priority or preference over any other such holder or enforce any right under this Indenture except in the
manner herein provided and for the equal, ratable and common benefit of all holders of Debt Securities. 
 Notwithstanding any
other provisions in this Indenture, however, the right of any holder of any Debt Security to receive payment of the principal of, premium, if any, and interest on such Debt Security when due, or to institute suit for the enforcement of any such
payment, shall not be impaired or affected without the consent of such holder. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given
either at law or in equity. 
  

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 SECTION 5.05. Proceedings by Trustee. 
 In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this
Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either by suit in equity or by action at law or by proceeding in bankruptcy or otherwise, whether for the specific
enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 
 SECTION 5.06. Remedies Cumulative and Continuing. 
 Except as otherwise provided in Section 2.06, all powers and remedies given by this Article V to the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive
of any other powers and remedies available to the Trustee or the holders of the Debt Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture or otherwise
established with respect to the Debt Securities, and no delay or omission of the Trustee or of any holder of any of the Debt Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall
impair any such right or power, or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to the provisions of Section 5.04, every power and remedy given by this Article V or by law to the Trustee or to
the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 
 SECTION 5.07. Direction of Proceedings and Waiver of Defaults by Majority of Securityholders. 
 The holders
of a majority in aggregate principal amount of the Debt Securities affected (voting as one class) at the time outstanding and, if the Debt Securities are held by the Trust or a trustee of the Trust, the holders of a majority in aggregate liquidation
amount of the outstanding Capital Securities of the Trust shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with
respect to such Debt Securities; provided, however, that if the Debt Securities are held by the Trust or a trustee of the Trust, such time, method and place or such exercise, as the case may be, may not be so directed until the holders
of a majority in aggregate liquidation amount of the outstanding Capital Securities of the Trust shall have directed such time, method and place or such exercise, as the case may be; provided, further, that (subject to the provisions of
Section 6.01) the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel shall determine that the action so directed would be unjustly prejudicial to the holders not taking part in such
direction or if the Trustee being advised by counsel determines that the action or proceeding so directed may not lawfully be taken or if a Responsible Officer of the Trustee shall determine that the action or proceedings so directed would involve
the Trustee in personal liability. Prior to any declaration of acceleration, or ipso facto acceleration, of the maturity of the Debt Securities, the holders of a majority in aggregate principal amount of the Debt Securities at the time outstanding
may on behalf of the holders of all of the Debt Securities waive (or modify any previously granted 

  

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waiver of) any past default or Event of Default and its consequences, except a default (a) in the payment of principal of, premium, if any, or interest
on any of the Debt Securities, (b) in respect of covenants or provisions hereof which cannot be modified or amended without the consent of the holder of each Debt Security affected, or (c) in respect of the covenants contained in
Section 3.09; provided, however, that if the Debt Securities are held by the Trust or a trustee of the Trust, such waiver or modification to such waiver shall not be effective until the holders of a majority in Liquidation Amount
of the Trust Securities of the Trust shall have consented to such waiver or modification to such waiver; provided, further, that if the consent of the holder of each outstanding Debt Security is required, such waiver or modification to
such waiver shall not be effective until each holder of the outstanding Capital Securities of the Trust shall have consented to such waiver or modification to such waiver. Upon any such waiver or modification to such waiver, the Default or Event of
Default covered thereby shall be deemed to be cured for all purposes of this Indenture and the Company, the Trustee and the holders of the Debt Securities shall be restored to their former positions and rights hereunder, respectively; but no such
waiver or modification to such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this
Section 5.07, said Default or Event of Default shall for all purposes of the Debt Securities and this Indenture be deemed to have been cured and to be not continuing. 
 SECTION 5.08. Notice of Defaults. 
 The Trustee shall, within 90 days after a Responsible Officer of the Trustee shall have actual knowledge or received written notice of the occurrence of a Default with respect to the Debt Securities, mail to all
Securityholders, as the names and addresses of such holders appear upon the Debt Security Register, notice of all Defaults with respect to the Debt Securities known to the Trustee, unless such defaults shall have been cured before the giving of such
notice (the term “defaults” for the purpose of this Section 5.08 being hereby defined to be the events specified in subsections (a), (b), (c), (d), (e) and (f) of Section 5.01, not including periods of grace, if any,
provided for therein); provided, that, except in the case of default in the payment of the principal of, premium, if any, or interest on any of the Debt Securities, the Trustee shall be protected in withholding such notice if and so long as a
Responsible Officer of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders. 
 SECTION 5.09. Undertaking to Pay Costs. 
 All parties to this Indenture agree, and each holder of any Debt
Security by such holder’s acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 5.09 shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding in the aggregate more than 10% in principal amount of the Debt 

  

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Securities (or, if such Debt Securities are held by the Trust or a trustee of the Trust, more than 10% in liquidation amount of the outstanding Capital
Securities), to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Debt Security against the Company on or after the same shall have become due and payable, or to
any suit instituted in accordance with Section 14.12. 
 ARTICLE VI 
 CONCERNING THE TRUSTEE 
 SECTION 6.01. Duties and Responsibilities of Trustee.

 With respect to the holders of Debt Securities issued hereunder, the Trustee, prior to the occurrence of an Event of
Default with respect to the Debt Securities and after the curing or waiving of all Events of Default which may have occurred, with respect to the Debt Securities, undertakes to perform such duties and only such duties as are specifically set forth
in this Indenture. In case an Event of Default with respect to the Debt Securities has occurred (which has not been cured or waived), 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 their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 
 No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 
 (a) prior to the occurrence of an Event of Default with respect to the Debt Securities and after the curing or waiving of all Events of
Default which may have occurred 
 (1) the duties and obligations of the Trustee with respect to the Debt Securities shall be
determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations with respect to the Debt Securities as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith
on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they
conform on their face to the requirements of this Indenture; 
 (b) the Trustee shall not be liable for any error of judgment
made in good faith by a Responsible Officer or Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
  

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 (c) the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith, in accordance with the direction of the Securityholders pursuant to Section 5.07, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Indenture; 
 (d) the Trustee shall not be charged with knowledge of any Default
or Event of Default with respect to the Debt Securities unless either (1) a Responsible Officer shall have actual knowledge of such Default or Event of Default or (2) written notice of such Default or Event of Default shall have been given
to the Trustee by the Company or any other obligor on the Debt Securities or by any holder of the Debt Securities, except with respect to an Event of Default pursuant to Sections 5.01(a), 5.01(b) or 5.01(c) hereof (other than an Event of Default
resulting from the default in the payment of Additional Interest or premium, if any, if the Trustee does not have actual knowledge or written notice that such payment is due and payable), of which the Trustee shall be deemed to have knowledge; and

 (e) in the absence of bad faith on the part of the Trustee, the Trustee may seek and rely on reasonable instructions from
the Company. 
 None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers. 
 SECTION 6.02. Reliance on Documents, Opinions, etc. 
 Except as otherwise provided in Section 6.01:

 (a) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, note, debenture or other paper or document believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties;

 (b) any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by an
Officers’ Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution may be evidenced to the Trustee by a copy thereof certified by the Secretary or an Assistant Secretary of the Company;

 (c) the Trustee may consult with counsel of its selection and any advice or 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 accordance with such advice or Opinion of Counsel; 
 (d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order
or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be
incurred therein or thereby; 
  

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 (e) the Trustee shall not be liable for any action taken or omitted by it in good faith
and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of
Default with respect to the Debt Securities (that has not been cured or waived) to exercise with respect to the Debt Securities such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their
exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs; 
 (f) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, coupon or
other paper or document, unless requested in writing to do so by the holders of not less than a majority in aggregate principal amount of the outstanding Debt Securities affected thereby; provided, however, that if the payment within a
reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms
of this Indenture, the Trustee may require reasonable indemnity against such expense or liability as a condition to so proceeding; and 
 (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents (including any Authenticating Agent) or attorneys, and the Trustee shall not be
responsible for any misconduct or negligence on the part of any such agent or attorney appointed by it with due care. 
 SECTION 6.03. No
Responsibility for Recitals, etc. 
 The recitals contained herein and in the Debt Securities (except in the certificate
of authentication of the Trustee or the Authenticating Agent) shall be taken as the statements of the Company and the Trustee and the Authenticating Agent assume no responsibility for the correctness of the same. The Trustee and the Authenticating
Agent make no representations as to the validity or sufficiency of this Indenture or of the Debt Securities. The Trustee and the Authenticating Agent shall not be accountable for the use or application by the Company of any Debt Securities or the
proceeds of any Debt Securities authenticated and delivered by the Trustee or the Authenticating Agent in conformity with the provisions of this Indenture. 
 SECTION 6.04. Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May Own Debt Securities. 
 The Trustee or any Authenticating Agent or any Paying Agent or any transfer agent or any Debt Security registrar, in its individual or any other capacity, may become the owner or pledgee of Debt Securities with the
same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, transfer agent or Debt Security registrar. 
 SECTION
6.05. Moneys to be Held in Trust. 
 Subject to the provisions of Section 12.04, all moneys received by the
Trustee or any Paying Agent shall, until used or applied as herein provided, be held in trust for the purpose 

  

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for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee and any Paying Agent shall be
under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. So long as no Event of Default shall have occurred and be continuing, all interest allowed on any such moneys, if any,
shall be paid from time to time to the Company upon the written order of the Company, signed by the Chairman of the Board of Directors, the President, the Chief Operating Officer, a Vice President, the Treasurer or an Assistant Treasurer of the
Company. 
 SECTION 6.06. Compensation and Expenses of Trustee. 
 Other than as provided in the Fee Agreement of even date herewith between Cohen Bros. & Company, the Trustee, the Company and
Delaware Trustee (as defined in the Declaration), the Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be agreed to in writing between the Company and the Trustee
(which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), and the Company will pay or reimburse the Trustee upon its written request for all documented reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its counsel and of all Persons not regularly in its employ)
except any such expense, disbursement or advance that arises from its negligence, willful misconduct or bad faith. The Company also covenants to indemnify each of the Trustee (including in its individual capacity) and any predecessor Trustee (and
its officers, agents, directors and employees) for, and to hold it harmless against, any and all loss, damage, claim, liability or expense including taxes (other than taxes based on the income of the Trustee), except to the extent such loss, damage,
claim, liability or expense results from the negligence, willful misconduct or bad faith of such indemnitee, arising out of or in connection with the acceptance or administration of this Trust, including the costs and expenses of defending itself
against any claim or liability in the premises. The obligations of the Company under this Section 6.06 to compensate and indemnify the Trustee and to pay or reimburse the Trustee for documented expenses, disbursements and advances shall
constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by (and the Company hereby grants and pledges to the Trustee) a lien prior to that of the Debt Securities upon all property and funds held or collected by
the Trustee as such, except funds held in trust for the benefit of the holders of particular Debt Securities. 
 Without
prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses or renders services in connection with an Event of Default specified in subsections (e), (f) or (g) of Section 5.01, the
expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law.

 The provisions of this Section shall survive the resignation or removal of the Trustee and the defeasance or other
termination of this Indenture. 
 Notwithstanding anything in this Indenture or any Debt Security to the contrary, the Trustee
shall have no obligation whatsoever to advance funds to pay any principal of or interest on or other amounts with respect to the Debt Securities or otherwise advance funds to or on behalf of the Company. 
  

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 SECTION 6.07. Officers’ Certificate as Evidence. 
 Except as otherwise provided in Sections 6.01 and 6.02, whenever in the administration of the provisions of this Indenture the Trustee
shall deem it necessary or desirable that a matter be proved or established prior to taking or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence,
willful misconduct or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence, willful misconduct or bad
faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken or omitted by it under the provisions of this Indenture upon the faith thereof. 
 SECTION 6.08. Eligibility of Trustee. 
 The Trustee hereunder shall at all times be a U.S. Person that is a banking corporation or national association organized and doing business under the laws of the United States of America or any state thereof or of
the District of Columbia and authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000) and subject to supervision or examination by federal, state, or
District of Columbia authority. If such corporation or national association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this
Section 6.08 the combined capital and surplus of such corporation or national association shall be deemed to be its combined capital and surplus as set forth in its most recent records of condition so published. 
 The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve
as Trustee, notwithstanding that such corporation or national association shall be otherwise eligible and qualified under this Article. 
 In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 6.08, the Trustee shall resign immediately in the manner and with the effect specified in
Section 6.09. 
 If the Trustee has or shall acquire any “conflicting interest” within the meaning of §
310(b) of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to this Indenture. 
 SECTION 6.09. Resignation or Removal of Trustee, Calculation Agent, Paying Agent or Debt Security Registrar. 
 (a) The Trustee, or any trustee or trustees hereafter appointed, the Calculation Agent, the Paying Agent and any Debt Security Registrar may at any time resign by giving written notice of such resignation to the
Company and by mailing notice thereof, at the Company’s expense, to the holders of the Debt Securities at their addresses as they shall appear 

  

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on the Debt Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor or successors by written instrument,
in duplicate, executed by order of its Board of Directors, one copy of which instrument shall be delivered to the resigning party and one copy to the successor. If no successor shall have been so appointed and have accepted appointment within 30
days after the mailing of such notice of resignation to the affected Securityholders, the resigning party may petition any court of competent jurisdiction for the appointment of a successor, or any Securityholder who has been a bona fide holder of a
Debt Security or Debt Securities for at least six months may, subject to the provisions of Section 5.09, on behalf of himself or herself and all others similarly situated, petition any such court for the appointment of a successor. Such court
may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor. 
 (b) In case at any time
any of the following shall occur: 
 (1) the Trustee shall fail to comply with the provisions of the last paragraph of
Section 6.08 after written request therefor by the Company or by any Securityholder who has been a bona fide holder of a Debt Security or Debt Securities for at least six months, 
 (2) the Trustee shall cease to be eligible in accordance with the provisions of Section 6.08 and shall fail to resign after written
request therefor by the Company or by any such Securityholder, or 
 (3) the Trustee shall become incapable of acting, or
shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, 
 then, in any such case, the Company may remove the Trustee and appoint a successor Trustee by
written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee, or, subject to the provisions of Section 5.09, if no
successor Trustee shall have been so appointed and have accepted appointment within 30 days of the occurrence of any of (1), (2) or (3) above, any Securityholder who has been a bona fide holder of a Debt Security or Debt Securities for at
least six months may, on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. Such court may thereupon, after such
notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor Trustee. 
 (c) Upon prior
written notice to the Company and the Trustee, the holders of a majority in aggregate principal amount of the Debt Securities at the time outstanding may at any time remove the Trustee and nominate a successor Trustee, which shall be deemed
appointed as successor Trustee unless within ten Business Days after such nomination the Company objects thereto, in which case or in the case of a failure by such holders to nominate a successor Trustee, the Trustee so removed or any
Securityholder, upon the terms and conditions and otherwise as in subsection (a) of this Section 6.09 provided, may petition any court of competent jurisdiction for an appointment of a successor. 
  

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 (d) Any resignation or removal of the Trustee, the Calculation Agent, the Paying Agent
and any Debt Security Registrar and appointment of a successor pursuant to any of the provisions of this Section 6.09 shall become effective upon acceptance of appointment by the successor as provided in Section 6.10. 
 SECTION 6.10. Acceptance by Successor. 
 Any successor Trustee, Calculation Agent, Paying Agent or Debt Security Registrar appointed as provided in Section 6.09 shall execute, acknowledge and deliver to the Company and to its predecessor an instrument
accepting such appointment hereunder, and thereupon the resignation or removal of the retiring party shall become effective and such successor, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and
obligations with respect to the Debt Securities of its predecessor hereunder, with like effect as if originally named herein; but, nevertheless, on the written request of the Company or of the successor, the party ceasing to act shall, upon payment
of the amounts then due it pursuant to the provisions of Section 6.06, execute and deliver an instrument transferring to such successor all the rights and powers of the party so ceasing to act and shall duly assign, transfer and deliver to such
successor all property and money held by such retiring party hereunder. Upon reasonable request of any such successor, the Company shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such
successor all such rights and powers. Any party ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected to secure any amounts then due it pursuant to the provisions of Section 6.06. 
 If a successor Trustee is appointed, the Company, the retiring Trustee and the successor Trustee shall execute and deliver an indenture
supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities as to which the predecessor
Trustee is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the Trust hereunder by more
than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be Trustee of a trust or trusts hereunder separate and apart
from any trust or trusts hereunder administered by any other such Trustee. 
 No successor Trustee shall accept appointment as
provided in this Section 6.10 unless at the time of such acceptance such successor Trustee shall be eligible and qualified under the provisions of Section 6.08. 
 In no event shall a retiring Trustee, Calculation Agent, Paying Agent or Debt Security Registrar be liable for the acts or omissions of
any successor hereunder. 
 Upon acceptance of appointment by a successor Trustee, Calculation Agent, Paying Agent or Debt
Security Registrar as provided in this Section 6.10, the Company shall mail notice of the succession to the holders of Debt Securities at their addresses as they shall appear on the Debt Security Register. If the Company fails to mail such
notice within ten Business Days after the acceptance of appointment by the successor, the successor shall cause such notice to be mailed at the expense of the Company. 
  

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 SECTION 6.11. Succession by Merger, etc. 
 Any Person into which the Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder without the execution or
filing of any paper or any further act on the part of any of the parties hereto; provided, that such Person shall be otherwise eligible and qualified under this Article. 
 In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Debt Securities shall
have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Debt Securities so authenticated; and in case at that time any of the Debt
Securities shall not have been authenticated, any successor to the Trustee may authenticate such Debt Securities either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases such certificates shall
have the full force which it is anywhere in the Debt Securities or in this Indenture provided that the certificate of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any
predecessor Trustee or authenticate Debt Securities in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 
 SECTION 6.12. Authenticating Agents. 
 There may be one or more Authenticating Agents appointed by the Trustee upon the request of the Company with power to act on its behalf and subject to its direction in the authentication and delivery of Debt
Securities issued upon exchange or registration of transfer thereof as fully to all intents and purposes as though any such Authenticating Agent had been expressly authorized to authenticate and deliver Debt Securities; provided, that the Trustee
shall have no liability to the Company for any acts or omissions of the Authenticating Agent with respect to the authentication and delivery of Debt Securities. Any such Authenticating Agent shall at all times be a Person organized and doing
business under the laws of the United States or of any state or territory thereof or of the District of Columbia authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of at least $50,000,000 and being
subject to supervision or examination by federal, state, territorial or District of Columbia authority. If such Person publishes reports of condition at least annually pursuant to law or the requirements of such authority, then for the purposes of
this Section 6.12 the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect herein specified in this Section. 
 Any Person into which any Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, consolidation or conversion to which any Authenticating Agent
shall be a party, or any Person succeeding to all 

  

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or substantially all of the corporate trust business of any Authenticating Agent, shall be the successor of such Authenticating Agent hereunder, if such
successor Person is otherwise eligible under this Section 6.12 without the execution or filing of any paper or any further act on the part of the parties hereto or such Authenticating Agent. 
 Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The Trustee may
at any time terminate the agency of any Authenticating Agent with respect to the Debt Securities by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time any Authenticating Agent shall cease to be eligible under this Section 6.12, the Trustee may, and upon the request of the Company shall, promptly appoint a successor Authenticating Agent eligible under this
Section 6.12, shall give written notice of such appointment to the Company and shall mail notice of such appointment to all holders of Debt Securities as the names and addresses of such holders appear on the Debt Security Register. Any
successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all rights, powers, duties and responsibilities with respect to the Debt Securities of its predecessor hereunder, with like effect as if originally
named as Authenticating Agent herein. 
 Other than as provided in the Fee Agreement of even date herewith between Cohen
Bros. & Company, the Company, the Trustee and Delaware Trustee (as defined in the Declaration), the Company agrees to pay to any Authenticating Agent from time to time reasonable compensation for its services. Any Authenticating Agent shall
have no responsibility or liability for any action taken by it as such in accordance with the directions of the Trustee and shall receive such reasonable indemnity as it may require against the costs, expenses and liabilities incurred in furtherance
of its duties under this Section 6.12. 
 ARTICLE VII 
 CONCERNING THE SECURITYHOLDERS 
 SECTION 7.01. Action by Securityholders. 
 Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate principal amount of the Debt Securities
or aggregate Liquidation Amount of the Capital Securities may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any
such action the holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by such Securityholders or holders of Capital Securities, as the case may be,
in person or by agent or proxy appointed in writing, or (b) by the record of such holders of Debt Securities voting in favor thereof at any meeting of such Securityholders duly called and held in accordance with the provisions of Article VIII
or of such holders of Capital Securities duly called and held in accordance with the provisions of the Declaration, or (c) by a combination of such instrument or instruments and any such record of such a meeting of such Securityholders or
holders of Capital Securities, as the case may be, or (d) by any other method the Trustee deems satisfactory. 
  

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 If the Company shall solicit from the Securityholders any request, demand, authorization,
direction, notice, consent, waiver or other action or revocation of the same, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such Debt Securities for the determination of
Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action or revocation of the same, but the Company shall have no obligation to do so. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other action or revocation of the same may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to
be Securityholders for the purposes of determining whether Securityholders of the requisite proportion of outstanding Debt Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver
or other action or revocation of the same, and for that purpose the outstanding Debt Securities shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the
record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date. 
 SECTION 7.02. Proof of Execution by Securityholders. 
 Subject to the provisions of
Sections 6.01, 6.02 and 8.05, proof of the execution of any instrument by a Securityholder or such Securityholder’s agent or proxy shall be sufficient if made in accordance with such reasonable rules and regulations as may be prescribed by the
Trustee or in such manner as shall be satisfactory to the Trustee. The ownership of Debt Securities shall be proved by the Debt Security Register or by a certificate of the Debt Security Registrar. The Trustee may require such additional proof of
any matter referred to in this Section as it shall deem necessary. 
 The record of any Securityholders’ meeting shall be
proved in the manner provided in Section 8.06. 
 SECTION 7.03. Who Are Deemed Absolute Owners. 
 Prior to due presentment for registration of transfer of any Debt Security, the Company, the Trustee, any Authenticating Agent, any Paying
Agent, any transfer agent and any Debt Security registrar may deem the Person in whose name such Debt Security shall be registered upon the Debt Security Register to be, and may treat such Person as, the absolute owner of such Debt Security (whether
or not such Debt Security shall be overdue) for the purpose of receiving payment of or on account of the principal of, premium, if any, and interest on such Debt Security and for all other purposes; and neither the Company nor the Trustee nor any
Authenticating Agent nor any Paying Agent nor any transfer agent nor any Debt Security registrar shall be affected by any notice to the contrary. All such payments so made to any holder for the time being or upon such holder’s order shall be
valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Debt Security. 
  

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 SECTION 7.04. Debt Securities Owned by Company Deemed Not Outstanding. 
 In determining whether the holders of the requisite aggregate principal amount of Debt Securities have concurred in any direction, consent
or waiver under this Indenture, Debt Securities which are owned by the Company or any other obligor on the Debt Securities or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the
Company (other than the Trust) or any other obligor on the Debt Securities shall be disregarded and deemed not to be outstanding for the purpose of any such determination; provided, that for the purposes of determining whether the Trustee
shall be protected in relying on any such direction, consent or waiver, only Debt Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Debt Securities so owned which have been pledged in good
faith may be regarded as outstanding for the purposes of this Section 7.04 if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Debt Securities and that the pledgee is not the Company or any
such other obligor or Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon
the advice of counsel shall be full protection to the Trustee. 
 SECTION 7.05. Revocation of Consents; Future Securityholders Bound.

 At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 7.01, of the taking of any
action by the holders of the percentage in aggregate principal amount of the Debt Securities specified in this Indenture in connection with such action, any holder (in cases where no record date has been set pursuant to Section 7.01) or any
holder as of an applicable record date (in cases where a record date has been set pursuant to Section 7.01) of a Debt Security (or any Debt Security issued in whole or in part in exchange or substitution therefor) the serial number of which is
shown by the evidence to be included in the Debt Securities the holders of which have consented to such action may, by filing written notice with the Trustee at the Principal Office of the Trustee and upon proof of holding as provided in
Section 7.02, revoke such action so far as concerns such Debt Security (or so far as concerns the principal amount represented by any exchanged or substituted Debt Security). Except as aforesaid any such action taken by the holder of any Debt
Security shall be conclusive and binding upon such holder and upon all future holders and owners of such Debt Security, and of any Debt Security issued in exchange or substitution therefor or on registration of transfer thereof, irrespective of
whether or not any notation in regard thereto is made upon such Debt Security or any Debt Security issued in exchange or substitution therefor. 
 ARTICLE VIII 
 SECURITYHOLDERS’ MEETINGS 
 SECTION 8.01. Purposes of Meetings. 
 A meeting of Securityholders may be called at
any time and from time to time pursuant to the provisions of this Article VIII for any of the following purposes: 
 (a) to
give any notice to the Company or to the Trustee, or to give any directions to the Trustee, or to consent to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by Securityholders pursuant to
any of the provisions of Article V; 
  

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 (b) to remove the Trustee and nominate a successor trustee pursuant to the provisions of
Article VI; 
 (c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of
Section 9.02; or 
 (d) to take any other action authorized to be taken by or on behalf of the holders of any specified
aggregate principal amount of such Debt Securities under any other provision of this Indenture or under applicable law. 
 SECTION 8.02.
Call of Meetings by Trustee. 
 The Trustee may at any time call a meeting of Securityholders to take any action
specified in Section 8.01, to be held at such time and at such place in The City of New York, the Borough of Manhattan, or Houston, Texas, as the Trustee shall determine. Notice of every meeting of the Securityholders, setting forth the time
and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be mailed to holders of Debt Securities affected at their addresses as they shall appear on the Debt Securities Register. Such notice shall be
mailed not less than 20 nor more than 180 days prior to the date fixed for the meeting. 
 SECTION 8.03. Call of Meetings by Company or
Securityholders. 
 In case at any time the Company pursuant to a Board Resolution, or the holders of at least 10% in
aggregate principal amount of the Debt Securities, as the case may be, then outstanding, shall have requested the Trustee to call a meeting of Securityholders, by written request setting forth in reasonable detail the action proposed to be taken at
the meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days after receipt of such request, then the Company or such Securityholders may determine the time and the place in for such meeting and may call such meeting
to take any action authorized in Section 8.01, by mailing notice thereof as provided in Section 8.02. 
 SECTION 8.04.
Qualifications for Voting. 
 To be entitled to vote at any meeting of Securityholders a Person shall be (a) a
holder of one or more Debt Securities with respect to which the meeting is being held or (b) a Person appointed by an instrument in writing as proxy by a holder of one or more such Debt Securities. The only Persons who shall be entitled to be
present or to speak at any meeting of Securityholders shall be the Persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

 

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 SECTION 8.05. Regulations. 
 Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any
meeting of Securityholders, in regard to proof of the holding of Debt Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other
evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. 
 The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Securityholders as provided in Section 8.03, in which case the Company or the
Securityholders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by majority vote at the meeting. 
 Subject to the provisions of Section 7.04, at any meeting each holder of Debt Securities with respect to which such meeting is being
held or proxy therefor shall be entitled to one vote for each $1,000 principal amount of Debt Securities held or represented by such holder; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debt
Security challenged as not outstanding and ruled by the chairman of the meeting to be not outstanding. The chairman of the meeting shall have no right to vote other than by virtue of Debt Securities held by such chairman or instruments in writing as
aforesaid duly designating such chairman as the Person to vote on behalf of other Securityholders. Any meeting of Securityholders duly called pursuant to the provisions of Section 8.02 or 8.03 may be adjourned from time to time by a majority of
those present, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice. 
 SECTION 8.06.
Voting. 
 The vote upon any resolution submitted to any meeting of holders of Debt Securities with respect to which
such meeting is being held shall be by written ballots on which shall be subscribed the signatures of such holders or of their representatives by proxy and the serial number or numbers of the Debt Securities held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in
triplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Securityholders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 8.02.
The record shall show the serial numbers of the Debt Securities voting in favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates
shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters
therein stated. 
  

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 SECTION 8.07. Quorum; Actions. 
 The Persons entitled to vote a majority in outstanding principal amount of the Debt Securities shall constitute a quorum for a meeting of
Securityholders; provided, however, that if any action is to be taken at such meeting with respect to a consent, waiver, request, demand, notice, authorization, direction or other action which may be given by the holders of not less
than a specified percentage in outstanding principal amount of the Debt Securities, the Persons holding or representing such specified percentage in outstanding principal amount of the Debt Securities will constitute a quorum. In the absence of a
quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Securityholders, be dissolved. In any other case the meeting may be adjourned for a period of not less than 10 days as determined
by the permanent chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the
permanent chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in Section 8.02, except that such notice need be given only once not less than
five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the outstanding principal amount of the Debt Securities
which shall constitute a quorum. 
 Except as limited by the proviso in the first paragraph of Section 9.02, any
resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the affirmative vote of the holders of not less than a majority in outstanding principal amount of the Debt
Securities; provided, however, that, except as limited by the proviso in the first paragraph of Section 9.02, any resolution with respect to any consent, waiver, request, demand, notice, authorization, direction or other action
that this Indenture expressly provides may be given by the holders of not less than a specified percentage in outstanding principal amount of the Debt Securities may be adopted at a meeting or an adjourned meeting duly reconvened and at which a
quorum is present as aforesaid only by the affirmative vote of the holders of not less than such specified percentage in outstanding principal amount of the Debt Securities. 
 Any resolution passed or decision taken at any meeting of holders of Debt Securities duly held in accordance with this Section shall be
binding on all the Securityholders, whether or not present or represented at the meeting. 
 SECTION 8.08. Written Consent Without a
Meeting. 
 Whenever under this Indenture, Securityholders are required or permitted to take any action by vote, such
action may be taken without a meeting on written consent, setting forth the action so taken, signed by the Securityholders of all outstanding Debt Securities entitled to vote thereon. No consent shall be effective to take the action referred to
therein unless, within sixty days of the earliest dated consent delivered in the manner required by this paragraph to the Trustee, written consents signed by a sufficient number of Securityholders to take action are delivered to the Trustee at its
Principal Office. Delivery made to the Trustee at its Principal Office, shall be by hand or by certificated or registered mail, return receipt requested. Written 

  

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consent thus given by the Securityholders of such number of Debt Securities as is required hereunder, shall have the same effect as a valid vote of
Securityholders of such number of Debt Securities. 
 ARTICLE IX 
 SUPPLEMENTAL INDENTURES 
 SECTION 9.01. Supplemental Indentures without Consent of Securityholders.

 The Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an
indenture or indentures supplemental hereto, without the consent of the Securityholders, for one or more of the following purposes: 
 (a) to evidence the succession of another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company, pursuant to Article XI hereof; 

(b) to add to the covenants of the Company such further covenants, restrictions or conditions for the protection of the holders of Debt
Securities as the Board of Directors shall consider to be for the protection of the holders of such Debt Securities, and to make the occurrence, or the occurrence and continuance, of a Default in any of such additional covenants, restrictions or
conditions a Default or an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided, however, that in respect of any such additional covenant,
restriction or condition such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon
such default or may limit the remedies available to the Trustee upon such default; 
 (c) to cure any ambiguity or to correct
or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture, or to make or amend such other provisions in regard to
matters or questions arising under this Indenture; provided, that any such action shall not adversely affect the interests of the holders of the Debt Securities; 
 (d) to add to, delete from, or revise the terms of Debt Securities, including, without limitation, any terms relating to the issuance,
exchange, registration or transfer of Debt Securities, including to provide for transfer procedures and restrictions substantially similar to those applicable to the Capital Securities, as required by Section 2.05 (for purposes of assuring that
no registration of Debt Securities is required under the Securities Act of 1933, as amended); provided, that any such action shall not adversely affect the interests of the holders of the Debt Securities then outstanding (it being understood, for
purposes of this proviso, that transfer restrictions on Debt Securities substantially similar to those applicable to Capital Securities shall not be deemed to adversely affect the holders of the Debt Securities); 
 (e) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Debt Securities and to
add to or change any of the 

  

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provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant
to the requirements of Section 6.10; 
 (f) to make any change (other than as elsewhere provided in this paragraph) that
does not adversely affect the rights of any Securityholder in any material respect; or 
 (g) to provide for the issuance of
and establish the form and terms and conditions of the Debt Securities, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or the Debt Securities, or to add to the rights of the holders of
Debt Securities. 
 The Trustee is hereby authorized to join with the Company in the execution of any such supplemental
indenture, to make any further appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer and assignment of any property thereunder, but the Trustee shall not be obligated to, but may in its
discretion, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any supplemental indenture authorized by the provisions of this Section 9.01 may be executed by the Company and the Trustee without the consent of the holders of any of the Debt Securities at the time
outstanding, notwithstanding any of the provisions of Section 9.02. 
 SECTION 9.02. Supplemental Indentures with Consent of
Securityholders. 
 With the consent (evidenced as provided in Section 7.01) of the holders of not less than a
majority in aggregate principal amount of the Debt Securities at the time outstanding affected by such supplemental indenture, the Company, when authorized by a Board Resolution, and the Trustee may from time to time and at any time enter into an
indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act, then in effect, applicable to indentures qualified thereunder) for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Debt Securities; provided, however, that no such supplemental indenture shall without
such consent of the holders of each Debt Security then outstanding and affected thereby (i) change the Maturity Date of any Debt Security, or reduce the principal amount thereof or any premium thereon, or reduce the rate (or manner of
calculation of the rate) or extend the time of payment of interest thereon, or reduce (other than as a result of the maturity or earlier redemption of any such Debt Security in accordance with the terms of this Indenture and such Debt Security) or
increase the aggregate principal amount of Debt Securities then outstanding, or change any of the redemption provisions, or make the principal thereof or any interest or premium thereon payable in any coin or currency other than United States
Dollars, or impair or affect the right of any Securityholder to institute suit for payment thereof or impair the right of repayment, if any, at the option of the holder, or (ii) reduce the aforesaid percentage of Debt Securities the holders of
which are required to consent to any such supplemental indenture; and provided, further, that if the Debt Securities are held by the Trust or a trustee of such trust, such supplemental indenture shall not be effective until the holders
of a majority in Liquidation Amount of the outstanding Capital Securities shall have consented to such supplemental indenture; provided, further, that if the 

  

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consent of the Securityholder of each outstanding Debt Security is required, such supplemental indenture shall not be effective until each holder of the
outstanding Capital Securities shall have consented to such supplemental indenture. 
 Upon the request of the Company
accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders (and holders of Capital Securities, if required) as aforesaid, the
Trustee shall join with the Company in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 Promptly after the execution by the
Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first class postage prepaid, a notice, prepared by the Company, setting forth in general terms the substance of
such supplemental indenture, to the Securityholders as their names and addresses appear upon the Debt Security Register. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any such supplemental indenture. 
 It shall not be necessary for the consent of the Securityholders under this
Section 9.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 SECTION 9.03. Effect of Supplemental Indentures. 
 Upon the execution of any
supplemental indenture pursuant to the provisions of this Article IX, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under
this Indenture of the Trustee, the Company and the holders of Debt Securities shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 SECTION
9.04. Notation on Debt Securities. 
 Debt Securities authenticated and delivered after the execution of any
supplemental indenture pursuant to the provisions of this Article IX may bear a notation as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Debt Securities so modified as to conform,
in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared and executed by the Company, authenticated by the Trustee or the Authenticating Agent and
delivered in exchange for the Debt Securities then outstanding. 
  

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 SECTION 9.05. Evidence of Compliance of Supplemental Indenture to be furnished to Trustee.

 The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall, in addition to the documents required by
Section 14.06, receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant hereto complies with the requirements of this Article IX. The Trustee shall receive an
Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article IX is authorized or permitted by, and conforms to, the terms of this Article IX and that it is proper for the Trustee under the provisions of
this Article IX to join in the execution thereof. 
 ARTICLE X 
 REDEMPTION OF SECURITIES 
 SECTION 10.01. Optional Redemption. 
 At any time the Company shall have the right, subject to the receipt by the Company of prior approval from any regulatory authority with
jurisdiction over the Company if such approval is then required under applicable capital guidelines or policies of such regulatory authority, to redeem the Debt Securities, in whole or (provided that all accrued and unpaid interest has been paid on
all Debt Securities for all Interest Periods terminating on or prior to such date) from time to time in part, on any March 15, June 15, September 15 or December 15 on or after June 15, 2010 (the “Redemption
Date”), at the Redemption Price. 
 SECTION 10.02. Special Event Redemption. 
 If a Special Event shall occur and be continuing, the Company shall have the right, subject to the receipt by the Company of prior
approval from any regulatory authority with jurisdiction over the Company if such approval is then required under applicable capital guidelines or policies of such regulatory authority, to redeem the Debt Securities, in whole or in part, at any time
within 90 days following the occurrence of such Special Event (the “Special Redemption Date”), at the Special Redemption Price. 
 SECTION 10.03. Notice of Redemption; Selection of Debt Securities. 
 In case the Company shall desire to
exercise the right to redeem all, or, as the case may be, any part of the Debt Securities, it shall fix a date for redemption and shall mail, or cause the Trustee to mail (at the expense of the Company) a notice of such redemption at least 30 and
not more than 60 days prior to the date fixed for redemption to the holders of Debt Securities so to be redeemed as a whole or in part at their last addresses as the same appear on the Debt Security Register. Such mailing shall be by first class
mail. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the
holder of any Debt Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Debt Security. 
  

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 Each such notice of redemption shall specify the CUSIP number, if any, of the Debt
Securities to be redeemed, the date fixed for redemption, the redemption price (or manner of calculation of the price) at which Debt Securities are to be redeemed, the place or places of payment, that payment will be made upon presentation and
surrender of such Debt Securities, that interest accrued to the date fixed for redemption will be paid as specified in said notice, and that on and after said date interest thereon or on the portions thereof to be redeemed will cease to accrue. If
less than all the Debt Securities are to be redeemed the notice of redemption shall specify the numbers of the Debt Securities to be redeemed. In case the Debt Securities are to be redeemed in part only, the notice of redemption shall state the
portion of the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Debt Security, a new Debt Security or Debt Securities in principal amount equal to the unredeemed portion
thereof will be issued. 
 Prior to 10:00 a.m. New York City time on the Redemption Date or the Special Redemption Date
specified in the notice of redemption given as provided in this Section, the Company will deposit with the Trustee or with one or more Paying Agents an amount of money sufficient to redeem on the redemption date all the Debt Securities so called for
redemption at the appropriate redemption price, together with unpaid interest accrued to such date. 
 The Company will give
the Trustee notice not less than 45 nor more than 60 days prior to the Redemption Date as to the Redemption Price at which the Debt Securities are to be redeemed and the aggregate principal amount of Debt Securities to be redeemed and the Trustee
shall select, in such manner as in its sole discretion it shall deem appropriate and fair, the Debt Securities or portions thereof (in integral multiples of $1,000) to be redeemed. 
 SECTION 10.04. Payment of Debt Securities Called for Redemption. 
 If notice of redemption has been given as provided in Section 10.03, the Debt Securities or portions of Debt Securities with respect
to which such notice has been given shall become due and payable on the Redemption Date or the Special Redemption Date (as the case may be) and at the place or places stated in such notice at the applicable redemption price, together with interest
accrued to the date fixed for redemption, and on and after said Redemption Date or the Special Redemption Date (unless the Company shall default in the payment of such Debt Securities at the redemption price, together with unpaid interest accrued
thereon to said date) interest on the Debt Securities or portions of Debt Securities so called for redemption shall cease to accrue. On presentation and surrender of such Debt Securities at a place of payment specified in said notice, such Debt
Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with unpaid interest accrued thereon to the Redemption Date or the Special Redemption Date (as the case may be).

 Upon presentation of any Debt Security redeemed in part only, the Company shall execute and the Trustee shall authenticate
and make available for delivery to the holder thereof, at the expense of the Company, a new Debt Security or Debt Securities of authorized denominations in principal amount equal to the unredeemed portion of the Debt Security so presented.

  

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 ARTICLE XI 
 CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE 
 SECTION 11.01. Company May Consolidate, etc., on
Certain Terms. 
 Nothing contained in this Indenture or in the Debt Securities shall prevent any consolidation or merger
of the Company with or into any other corporation or corporations (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent
any sale, conveyance, transfer or other disposition of all or substantially all of the property or capital stock of the Company or its successor or successors to any other corporation (whether or not affiliated with the Company, or its successor or
successors) authorized to acquire and operate the same; provided, however, that the Company hereby covenants and agrees that, (i) upon any such consolidation, merger (where the Company is not the surviving corporation), sale,
conveyance, transfer or other disposition, the successor entity shall be a corporation organized and existing under the laws of the United States or any state thereof or the District of Columbia (unless such corporation has (1) agreed to make
all payments due in respect of the Debt Securities or, if outstanding, the Capital Securities and Capital Securities Guarantee without withholding or deduction for, or on account of, any taxes, duties, assessments or other governmental charges under
the laws or regulations of the jurisdiction of organization or residence (for tax purposes) of such corporation or any political subdivision or taxing authority thereof or therein unless required by applicable law, in which case such corporation
shall have agreed to pay such additional amounts as shall be required so that the net amounts received and retained by the holders of such Debt Securities or Capital Securities, as the case may be, after payment of all taxes (including withholding
taxes), duties, assessments or other governmental charges, will be equal to the amounts that such holders would have received and retained had no such taxes (including withholding taxes), duties, assessments or other governmental charges been
imposed, (2) irrevocably and unconditionally consented and submitted to the jurisdiction of any United States federal court or New York state court, in each case located in The City of New York, Borough of Manhattan, in respect of any action,
suit or proceeding against it arising out of or in connection with this Indenture, the Debt Securities, the Capital Securities Guarantee or the Declaration and irrevocably and unconditionally waived, to the fullest extent permitted by law, any
objection to the laying of venue in any such court or that any such action, suit or proceeding has been brought in an inconvenient forum and (3) irrevocably appointed an agent in The City of New York for service of process in any action, suit
or proceeding referred to in clause (2) above) and such corporation expressly assumes all of the obligations of the Company under the Debt Securities, this Indenture, the Capital Securities Guarantee and the Declaration and (ii) after
giving effect to any such consolidation, merger, sale, conveyance, transfer or other disposition, no Default or Event of Default shall have occurred and be continuing. 
 SECTION 11.02. Successor Entity to be Substituted. 
 In case of any such
consolidation, merger, sale, conveyance, transfer or other disposition contemplated in Section 11.01 and upon the assumption by the successor entity, by supplemental indenture, executed and delivered to the Trustee and reasonably satisfactory
in form to the Trustee, of the due and punctual payment of the principal of and premium, if any, 

  

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and interest on all of the Debt Securities and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be
performed or observed by the Company, such successor entity shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the Company, and thereupon the predecessor entity shall be relieved of any
further liability or obligation hereunder or upon the Debt Securities. Such successor entity thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Debt Securities issuable hereunder
which theretofore shall not have been signed by the Company and delivered to the Trustee or the Authenticating Agent; and, upon the order of such successor entity instead of the Company and subject to all the terms, conditions and limitations in
this Indenture prescribed, the Trustee or the Authenticating Agent shall authenticate and deliver any Debt Securities which previously shall have been signed and delivered by the officers of the Company, to the Trustee or the Authenticating Agent
for authentication, and any Debt Securities which such successor entity thereafter shall cause to be signed and delivered to the Trustee or the Authenticating Agent for that purpose. All the Debt Securities so issued shall in all respects have the
same legal rank and benefit under this Indenture as the Debt Securities theretofore or thereafter issued in accordance with the terms of this Indenture as though all of such Debt Securities had been issued at the date of the execution hereof.

 SECTION 11.03. Opinion of Counsel to be Given to Trustee. 
 The Trustee, subject to the provisions of Sections 6.01 and 6.02, shall receive, in addition to the Opinion of Counsel required by
Section 9.05, an Opinion of Counsel as conclusive evidence that any consolidation, merger, sale, conveyance, transfer or other disposition, and any assumption, permitted or required by the terms of this Article XI complies with the provisions
of this Article XI. 
 ARTICLE XII 
 SATISFACTION AND DISCHARGE OF INDENTURE 
 SECTION 12.01. Discharge of Indenture. 
 When (a) the Company shall deliver to the Trustee for cancellation all Debt Securities theretofore authenticated (other than any Debt
Securities which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.06) and not theretofore canceled, or (b) all the Debt Securities not theretofore canceled or delivered to the
Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of
redemption, and the Company shall deposit with the Trustee, in trust, funds, which shall be immediately due and payable, sufficient to pay at maturity or upon redemption all of the Debt Securities (other than any Debt Securities which shall have
been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.06) not theretofore canceled or delivered to the Trustee for cancellation, including principal and premium, if any, and interest due or to become
due to such date of maturity or redemption date, as the case may be, but excluding, however, the amount of any moneys for the payment of principal of, and premium, if any, or interest on the Debt 

  

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Securities (1) theretofore repaid to the Company in accordance with the provisions of Section 12.04, or (2) paid to any state or to the
District of Columbia pursuant to its unclaimed property or similar laws, and if in the case of either clause (a) or clause (b) the Company shall also pay or cause to be paid all other sums payable hereunder by the Company, then this
Indenture shall cease to be of further effect except for the provisions of Sections 2.05, 2.06, 3.01, 3.02, 3.04, 6.06, 6.09 and 12.04 hereof, which shall survive until such Debt Securities shall mature or are redeemed, as the case may be, and are
paid in full. Thereafter, Sections 6.06, 6.09 and 12.04 shall survive, and the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture have been complied with, and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture, the Company, however,
hereby agreeing to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by the Trustee in connection with this Indenture or the Debt Securities. 
 SECTION 12.02. Deposited Moneys to be Held in Trust by Trustee. 
 Subject to the provisions of Section 12.04, all moneys deposited with the Trustee pursuant to Section 12.01 shall be held in
trust and applied by it to the payment, either directly or through any Paying Agent (including the Company if acting as its own Paying Agent), to the holders of the particular Debt Securities for the payment of which such moneys have been deposited
with the Trustee, of all sums due and to become due thereon for principal, and premium, if any, and interest. 
 SECTION 12.03. Paying
Agent to Repay Moneys Held. 
 Upon the satisfaction and discharge of this Indenture, all moneys then held by any Paying
Agent of the Debt Securities (other than the Trustee) shall, upon demand of the Company, be repaid to the Company or paid to the Trustee, and thereupon such Paying Agent shall be released from all further liability with respect to such moneys.

 SECTION 12.04. Return of Unclaimed Moneys. 
 Any moneys deposited with or paid to the Trustee or any Paying Agent for payment of the principal of, and premium, if any, or interest on
Debt Securities and not applied but remaining unclaimed by the holders of Debt Securities for two years after the date upon which the principal of, and premium, if any, or interest on such Debt Securities, as the case may be, shall have become due
and payable, shall be repaid to the Company by the Trustee or such Paying Agent on written demand; and the holder of any of the Debt Securities shall thereafter look only to the Company for any payment which such holder may be entitled to collect
and all liability of the Trustee or such Paying Agent with respect to such moneys shall thereupon cease. 
  

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 ARTICLE XIII 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 SECTION 13.01. Indenture and Debt
Securities Solely Corporate Obligations. 
 No recourse for the payment of the principal of or premium, if any, or
interest on any Debt Security, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company in this Indenture or in any supplemental indenture, or in any such Debt
Security, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, stockholder, officer, director, employee or agent, as such, past, present or future, of the Company or of any predecessor or
successor corporation of the Company, either directly or through the Company or any successor corporation of the Company, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise;
it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issue of the Debt Securities. 
 ARTICLE XIV 
 MISCELLANEOUS PROVISIONS

 SECTION 14.01. Successors. 
 All the covenants, stipulations, promises and agreements of the Company contained in this Indenture shall bind its successors and assigns whether so expressed or not. 
 SECTION 14.02. Official Acts by Successor Entity. 
 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done and performed with like force and effect
by the like board, committee, officer or other authorized Person of any entity that shall at the time be the lawful successor of the Company. 
 SECTION 14.03. Surrender of Company Powers. 
 The Company by instrument in writing executed by authority of
2/3 (two-thirds) of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved to the Company and thereupon such power so surrendered shall terminate both as to the Company and as to any permitted successor.

 SECTION 14.04. Addresses for Notices, etc. 
 Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the
Securityholders on the Company may be given or served in writing, duly signed by the party giving such notice, and shall be delivered, telecopied (which telecopy shall be followed by notice delivered or mailed by first class mail) or mailed by first
class mail to the Company at: 
  

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 The PB Financial Services Corporation 
 9570 Medlock Bridge Road 
 Duluth, GA 30097 
 Attention: Kelly J. Johnson 
 Any notice, direction, request or demand by any Securityholder or the Company to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the office of JPMorgan Chase
Bank, National Association at: 
 600 Travis Street, 50th Floor 
 Houston,
Texas 77002 
 Attn: Institutional Trust Services – PB Capital Trust II 
 SECTION 14.05. Governing Law. 
 This Indenture and the Debt Securities shall each be governed by, and construed in accordance with, the laws of the State of New York, without regard to conflict of laws principles of said State other than Section 5-1401 of the New
York General Obligations Law. 
 SECTION 14.06. Evidence of Compliance with Conditions Precedent. 
 Upon any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company
shall furnish to the Trustee an Officers’ Certificate stating that in the opinion of the signers all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel
stating that, in the opinion of such counsel, all such conditions precedent have been complied with (except that no such Opinion of Counsel is required to be furnished to the Trustee in connection with the authentication and issuance of Debt
Securities issued on the date of this Indenture). 
 Each certificate or opinion provided for in this Indenture and delivered
to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture (except certificates delivered pursuant to Section 3.05) shall include (a) a statement that the person making such certificate or opinion
has read such covenant or condition and the definitions relating thereto; (b) 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; (c) 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 (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 SECTION 14.07. Non-Business Days. 
 Notwithstanding anything to the contrary contained herein, if any
Interest Payment Date, other than on the Maturity Date, any Redemption Date or the Special Redemption Date, falls on a day that is not a Business Day, then any interest payable will be paid on, and such Interest Payment Date will be moved to, the
next succeeding Business Day, and additional interest will accrue for each day that such payment is delayed as a result thereof. If the Maturity 

  

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Date, any Redemption Date or the Special Redemption Date falls on a day that is not a Business Day, then the principal, premium, if any, and/or interest
payable on such date will be paid on the next succeeding Business Day, and no additional interest will accrue in respect of such payment made on such next succeeding Business Day. 
 SECTION 14.08. Table of Contents, Headings, etc. 
 The table of contents and the titles 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. 
 SECTION 14.09. Execution in Counterparts. 
 This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together
constitute but one and the same instrument. 
 SECTION 14.10. Severability. 
 In case any one or more of the provisions contained in this Indenture or in the Debt Securities shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Debt Securities, but this Indenture and such Debt Securities shall be construed as
if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 14.11. Assignment.

 Subject to Article XI, the Company will have the right at all times to assign any of its rights or obligations under this
Indenture and the Debt Securities to a direct or indirect wholly owned Subsidiary of the Company; provided, however, that, in the event of any such assignment, the Company will remain liable for all such obligations. Subject to the
foregoing, this Indenture is binding upon and inures to the benefit of the parties hereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 
 SECTION 14.12. Acknowledgment of Rights. 
 The Company acknowledges that, with respect to any Debt Securities held by the Trust or the Institutional Trustee of the Trust, if the Institutional Trustee of the Trust fails to enforce its rights under this
Indenture as the holder of Debt Securities held as the assets of the Trust after the holders of a majority in Liquidation Amount of the Capital Securities of the Trust have so directed in writing such Institutional Trustee, a holder of record of
such Capital Securities may to the fullest extent permitted by law institute legal proceedings directly against the Company to enforce such Institutional Trustee’s rights under this Indenture without first instituting any legal proceedings
against such Institutional Trustee or any other Person. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay interest (or premium, if any) or
principal on the Debt Securities on the date such interest (or premium, if any) or principal is 

  

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otherwise due and payable (or in the case of redemption, on the redemption date), the Company acknowledges that a holder of record of Capital Securities of
the Trust may directly institute a proceeding against the Company for enforcement of payment to such holder directly of the principal of (or premium, if any) or interest on the Debt Securities having an aggregate principal amount equal to the
aggregate Liquidation Amount of the Capital Securities of such holder on or after the respective due date specified in the Debt Securities. 
 ARTICLE XV 
 SUBORDINATION OF DEBT SECURITIES 
 SECTION 15.01. Agreement to Subordinate. 
 The Company covenants and agrees, and each
holder of Debt Securities issued hereunder and under any supplemental indenture (the “Additional Provisions”) by such Securityholder’s acceptance thereof likewise covenants and agrees, that all Debt Securities shall be issued subject
to the provisions of this Article XV; and each holder of a Debt Security, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. 
 The payment by the Company of the payments due on all Debt Securities issued hereunder and under any Additional Provisions shall, to the
extent and in the manner hereinafter set forth, be subordinated and junior in right of payment to the prior payment in full of all Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or thereafter incurred.

 No provision of this Article XV shall prevent the occurrence of any Default or Event of Default hereunder. 
 SECTION 15.02. Default on Senior Indebtedness. 
 In the event and during the continuation of any default by the Company in the payment of principal, premium, interest or any other payment due on any Senior Indebtedness of the Company following any applicable grace
period, or in the event that the maturity of any Senior Indebtedness of the Company has been accelerated because of a default, and such acceleration has not been rescinded or canceled and such Senior Indebtedness has not been paid in full, then, in
either case, no payment shall be made by the Company with respect to the payments due on the Debt Securities. 
 In the event
that, notwithstanding the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the preceding paragraph of this Section 15.02, such payment shall, subject to Section 15.06, be held in trust for the
benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued, as
their respective interests may appear, but only to the extent that the holders of the Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due
and owing on the 

  

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Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of Senior Indebtedness. 
 SECTION 15.03. Liquidation; Dissolution; Bankruptcy. 
 Upon any payment by the Company or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or liquidation or
reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all amounts due upon all Senior Indebtedness of the Company shall first be paid in full, or payment thereof provided for
in money in accordance with its terms, before any payment is made by the Company on the Debt Securities; and upon any such dissolution or winding-up or liquidation or reorganization, any payment by the Company, or distribution of assets of the
Company of any kind or character, whether in cash, property or securities, to which the Securityholders or the Trustee would be entitled to receive from the Company, except for the provisions of this Article XV, shall be paid by the Company, or by
any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by the Securityholders or by the Trustee under this Indenture if received by them or it, directly to the holders of Senior
Indebtedness of the Company (pro rata to such holders on the basis of the respective amounts of Senior Indebtedness held by such holders, as calculated by the Company) or their representative or representatives, or to the trustee or trustees under
any indenture pursuant to which any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay such Senior Indebtedness in full, in money or money’s worth,
after giving effect to any concurrent payment or distribution to or for the holders of such Senior Indebtedness, before any payment or distribution is made to the Securityholders. 
 In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether
in cash, property or securities, prohibited by the foregoing, shall be received by the Trustee before all Senior Indebtedness of the Company is paid in full, or provision is made for such payment in money in accordance with its terms, such payment
or distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which
any instruments evidencing such Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all Senior Indebtedness of the Company remaining unpaid to the extent
necessary to pay such Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Senior Indebtedness. 
 For purposes of this Article XV, the words “cash, property or securities” shall not be deemed to include shares of stock of the
Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this Article XV with
respect to the Debt Securities to the payment of all Senior Indebtedness of the Company, that may at the time be outstanding, provided, that (a) such Senior Indebtedness is assumed by the new corporation, if any, resulting from any such
reorganization or readjustment, and (b) the rights of the holders of such Senior Indebtedness are not, without the consent of such 

  

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holders, altered by such reorganization or readjustment. The consolidation of the Company with, or the merger of the Company into, another corporation or the
liquidation or dissolution of the Company following the conveyance, transfer or other disposition of its property as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in Article XI
of this Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 15.03 if such other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with
the conditions stated in Article XI of this Indenture. Nothing in Section 15.02 or in this Section 15.03 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.06 of this Indenture. 
 SECTION 15.04. Subrogation. 
 Subject to the payment in full of all Senior Indebtedness of the Company, the Securityholders shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions of cash, property or securities
of the Company applicable to such Senior Indebtedness until all payments due on the Debt Securities shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Senior Indebtedness of any
cash, property or securities to which the Securityholders or the Trustee would be entitled except for the provisions of this Article XV, and no payment over pursuant to the provisions of this Article XV to or for the benefit of the holders of such
Senior Indebtedness by Securityholders or the Trustee, shall, as between the Company, its creditors other than holders of Senior Indebtedness of the Company, and the holders of the Debt Securities be deemed to be a payment or distribution by the
Company to or on account of such Senior Indebtedness. It is understood that the provisions of this Article XV are and are intended solely for the purposes of defining the relative rights of the holders of the Debt Securities, on the one hand, and
the holders of such Senior Indebtedness, on the other hand. 
 Nothing contained in this Article XV or elsewhere in this
Indenture, any Additional Provisions or in the Debt Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness of the Company, and the holders of the Debt Securities, the obligation
of the Company, which is absolute and unconditional, to pay to the holders of the Debt Securities all payments on the Debt Securities as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect
the relative rights of the holders of the Debt Securities and creditors of the Company, other than the holders of Senior Indebtedness of the Company, nor shall anything herein or therein prevent the Trustee or the holder of any Debt Security from
exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article XV of the holders of such Senior Indebtedness in respect of cash, property or securities of the
Company received upon the exercise of any such remedy. 
 Upon any payment or distribution of assets of the Company referred
to in this Article XV, the Trustee, subject to the provisions of Article VI of this Indenture, and the Securityholders shall be entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction in which such
dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to
the Securityholders, for the purposes of ascertaining the Persons entitled to participate in such 

  

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distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article XV. 
 SECTION 15.05. Trustee to Effectuate
Subordination. 
 Each Securityholder by such Securityholder’s acceptance thereof authorizes and directs the Trustee
on such Securityholder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article XV and appoints the Trustee such Securityholder’s attorney-in-fact for any and all such
purposes. 
 SECTION 15.06. Notice by the Company. 
 The Company shall give prompt written notice to a Responsible Officer of the Trustee at the Principal Office of the Trustee of any fact
known to the Company that would prohibit the making of any payment of moneys to or by the Trustee in respect of the Debt Securities pursuant to the provisions of this Article XV. Notwithstanding the provisions of this Article XV or any other
provision of this Indenture or any Additional Provisions, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of moneys to or by the Trustee in respect of the Debt Securities
pursuant to the provisions of this Article XV, unless and until a Responsible Officer of the Trustee at the Principal Office of the Trustee shall have received written notice thereof from the Company or a holder or holders of Senior Indebtedness or
from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled in all respects to assume that no such facts exist; provided,
however, that if the Trustee shall not have received the notice provided for in this Section 15.06 at least two Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including,
without limitation, the payment of the principal of (or premium, if any) or interest on any Debt Security), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such money and to
apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within two Business Days prior to such date. 
 The Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled to conclusively rely on the delivery to it of a
written notice by a Person representing himself or herself to be a holder of Senior Indebtedness of the Company (or a trustee or representative on behalf of such holder) to establish that such notice has been given by a holder of such Senior
Indebtedness or a trustee or representative on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior
Indebtedness to participate in any payment or distribution pursuant to this Article XV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such
Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article XV, and, if such evidence is not furnished, the Trustee may defer any
payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
  

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 SECTION 15.07. Rights of the Trustee, Holders of Senior Indebtedness. 
 The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in respect of any Senior
Indebtedness at any time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture or any Additional Provisions shall deprive the Trustee of any of its rights as such holder. 
 With respect to the holders of Senior Indebtedness of the Company, the Trustee undertakes to perform or to observe only such of its
covenants and obligations as are specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of such Senior Indebtedness shall be read into this Indenture or any Additional Provisions against the
Trustee. The Trustee shall not owe or be deemed to owe any fiduciary duty to the holders of such Senior Indebtedness and, subject to the provisions of Article VI of this Indenture, the Trustee shall not be liable to any holder of such Senior
Indebtedness if it shall pay over or deliver to Securityholders, the Company or any other Person money or assets to which any holder of such Senior Indebtedness shall be entitled by virtue of this Article XV or otherwise. 
 Nothing in this Article XV shall apply to claims of, or payments to, the Trustee under or pursuant to Section 6.06. 
 SECTION 15.08. Subordination May Not Be Impaired. 
 No right of any present or future holder of any Senior Indebtedness of the Company to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the
part of the Company, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by the Company, with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof that any such holder may
have or otherwise be charged with. 
 Without in any way limiting the generality of the foregoing paragraph, the holders of
Senior Indebtedness of the Company may, at any time and from time to time, without the consent of or notice to the Trustee or the Securityholders, without incurring responsibility to the Securityholders and without impairing or releasing the
subordination provided in this Article XV or the obligations hereunder of the holders of the Debt Securities to the holders of such Senior Indebtedness, do any one or more of the following: (a) change the manner, place or terms of payment or
extend the time of payment of, or renew or alter, such Senior Indebtedness, or otherwise amend or supplement in any manner such Senior Indebtedness or any instrument evidencing the same or any agreement under which such Senior Indebtedness is
outstanding; (b) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Senior Indebtedness; (c) release any Person liable in any manner for the collection of such Senior Indebtedness; and
(d) exercise or refrain from exercising any rights against the Company, and any other Person. 
 JPMorgan Chase Bank,
National Association, in its capacity as Trustee, hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions herein above set forth. 
  

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

			
	The PB Financial Services Corporation
		
	By:	 	/s/ Kelly J. Johnson
	Name:	 	Kelly J. Johnson
	Title:	 	SVP/CFO
	
	JPMorgan Chase Bank, National Association, as Trustee
		
	By:	 	/s/ Maria D. Calzado
	Name:	 	Maria D. Calzado
	Title:	 	Vice-President

  

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 EXHIBIT A 
 FORM OF JUNIOR SUBORDINATED DEBT SECURITY 
 DUE 2035 
 [FORM OF FACE OF SECURITY] 
 THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS OR ANY OTHER APPLICABLE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER
OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY ONLY (A) TO THE COMPANY, (B) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE
144A, (C) TO A “NON U.S. PERSON” IN AN “OFFSHORE TRANSACTION” PURSUANT TO REGULATION S UNDER THE SECURITIES ACT, (D) PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT TO AN
“ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN “ACCREDITED
INVESTOR,” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN
ACCORDANCE WITH THE INDENTURE, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES THAT IT WILL COMPLY WITH THE FOREGOING RESTRICTIONS. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES, REPRESENTS AND WARRANTS THAT IT WILL NOT ENGAGE IN HEDGING TRANSACTIONS INVOLVING THIS
SECURITY UNLESS SUCH TRANSACTIONS ARE IN COMPLIANCE WITH THE SECURITIES ACT. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF ALSO
AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT, 

  

 A-1 

 
INDIVIDUAL RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), (EACH A “PLAN”), OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN
THE ENTITY AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR ANY INTEREST THEREIN, UNLESS SUCH PURCHASER OR HOLDER IS ELIGIBLE FOR THE EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR
PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS SECURITY IS NOT PROHIBITED BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH
PURCHASE OR HOLDING. ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER (i) IT IS NOT AN EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF SECTION 3(3)
OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH
PURCHASE, OR (ii) SUCH PURCHASE WILL NOT RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH THERE IS NO APPLICABLE STATUTORY OR ADMINISTRATIVE EXEMPTION. 
 IN CONNECTION WITH ANY TRANSFER, THE HOLDER OF THIS SECURITY WILL DELIVER TO THE COMPANY AND TRUSTEE SUCH CERTIFICATES AND OTHER INFORMATION AS MAY BE
REQUIRED BY THE INDENTURE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 THIS SECURITY WILL BE ISSUED AND MAY BE
TRANSFERRED ONLY IN BLOCKS HAVING A PRINCIPAL AMOUNT OF NOT LESS THAN $100,000 AND MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN A BLOCK HAVING A PRINCIPAL AMOUNT OF LESS THAN $100,000 SHALL BE DEEMED TO BE VOID
AND OF NO LEGAL EFFECT WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS SECURITY FOR ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS SECURITY, AND SUCH PURPORTED TRANSFEREE SHALL
BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN THIS SECURITY. 
 THIS OBLIGATION IS NOT A DEPOSIT AND IS NOT INSURED BY THE UNITED STATES OR ANY
AGENCY OR FUND OF THE UNITED STATES, INCLUDING THE FEDERAL DEPOSIT INSURANCE CORPORATION. THIS OBLIGATION IS SUBORDINATED TO THE CLAIMS OF DEPOSITORS AND THE CLAIMS OF GENERAL AND SECURED CREDITORS OF THE COMPANY, IS INELIGIBLE AS COLLATERAL FOR A
LOAN BY THE COMPANY OR ANY OF ITS SUBSIDIARIES AND IS NOT SECURED. 
  

 A-2 

 Form of Junior Subordinated Debt Security due 2035 
 of 
 The PB Financial Services Corporation

 The PB Financial Services Corporation, a bank holding company incorporated in Georgia (the “Company”), for value received
promises to pay to JPMorgan Chase Bank, National Association, not in its individual capacity but solely as Institutional Trustee for PB Capital Trust II, a Delaware statutory trust (the “Holder”), or registered assigns, the principal sum
of Five Million One Hundred Fifty Five Thousand Dollars on June 15, 2035 and to pay interest on said principal sum from March 29, 2005, or from the most recent interest payment date (each such date, an “Interest Payment Date”) to
which interest has been paid or duly provided for, quarterly (subject to deferral as set forth herein) in arrears on March 15, June 15, September 15 and December 15 of each year commencing June 15, 2005, at a
variable per annum rate equal to LIBOR (as defined in the Indenture) plus 1.95% (the “Interest Rate”) (provided, however, that the Interest Rate for any Interest Payment Period may not exceed the highest rate permitted by New York law, as
the same may be modified by United States law of general applicability) until the principal hereof shall have become due and payable, and on any overdue principal and (without duplication and to the extent that payment of such interest is
enforceable under applicable law) on any overdue installment of interest at an annual rate equal to the Interest Rate in effect for each such Extension Period compounded quarterly. The amount of interest payable on any Interest Payment Date shall be
computed on the basis of a 360-day year and the actual number of days elapsed in the relevant interest period. Notwithstanding anything to the contrary contained herein, if any Interest Payment Date, other than on the Maturity Date, any Redemption
Date or the Special Redemption Date, falls on a day that is not a Business Day, then any interest payable will be paid on, and such Interest Payment Date will be moved to, the next succeeding Business Day, and additional interest will accrue for
each day that such payment is delayed as a result thereof. If the Maturity Date, any Redemption Date or the Special Redemption Date falls on a day that is not a Business Day, then the principal, premium, if any, and/or interest payable on such date
will be paid on the next succeeding Business Day, and no additional interest will accrue in respect of such payment made on such next succeeding Business Day. The interest installment so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date
for such interest installment, except that interest and any Deferred Interest payable on the Maturity Date shall be paid to the Person to whom principal is paid. Any such interest installment not punctually paid or duly provided for shall forthwith
cease to be payable to the registered holders on such regular record date and may be paid to the Person in whose name this Debt Security (or one or more Predecessor Debt Securities) is registered at the close of business on a special record date to
be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the registered holders of the Debt Securities not less than 10 days prior to such special record date, all as more fully provided in the Indenture.
The principal of and interest on this Debt Security shall be payable at the office or agency of the Trustee (or other Paying Agent appointed by the Company) maintained for that purpose in any coin or currency of the United States of America that at
the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest 

  

 A-3 

 
may be made at the option of the Company by check mailed to the registered holder at such address as shall appear in the Debt Security Register or by wire
transfer or immediately available funds to an account appropriately designated by the holder hereof. Notwithstanding the foregoing, so long as the holder of this Debt Security is the Institutional Trustee, payment of the principal of and premium, if
any, and interest on this Debt Security shall be made in immediately available funds when due at such place and to such account as may be designated by the Institutional Trustee. All payments in respect of this Debt Security shall be payable in any
coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts. 
 Upon
submission of Notice (as defined in the Indenture) and so long as it is acting in good faith, the Company shall have the right, from time to time and without causing an Event of Default, to defer payments of interest on the Debt Securities by
extending the interest distribution period on the Debt Securities at any time and from time to time during the term of the Debt Securities, for up to 20 consecutive quarterly periods (each such extended interest distribution period, an
“Extension Period”), during which Extension Period no interest shall be due and payable (except any Additional Interest that may be due and payable). During any Extension Period, interest will continue to accrue on the Debt Securities, and
interest on such accrued interest (such accrued interest and interest thereon referred to herein as “Deferred Interest”) will accrue at an annual rate equal to the Interest Rate applicable during such Extension Period, compounded quarterly
from the date such Deferred Interest would have been payable were it not for the Extension Period, to the extent permitted by law. No Extension Period may end on a date other than an Interest Payment Date. At the end of any such Extension Period the
Company shall pay all Deferred Interest then accrued and unpaid on the Debt Securities; provided, however, that no Extension Period may extend beyond the Maturity Date; and provided, further, however, during any such
Extension Period, the Company may not (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock or (ii) make any payment of
principal of or premium, if any, or interest on or repay, repurchase or redeem any debt securities of the Company that rank pari passu in all respects with or junior in interest to the Debt Securities or (iii) make any payment under any
guarantees of the Company that rank in all respects pari passu with or junior in respect to the Capital Securities Guarantee (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company
(A) in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of one or more employees, officers, directors or consultants, (B) in connection with a dividend reinvestment or stockholder
stock purchase plan or (C) in connection with the issuance of capital stock of the Company (or securities convertible into or exercisable for such capital stock), as consideration in an acquisition transaction entered into prior to the
applicable Extension Period, (b) as a result of any exchange, reclassification, combination or conversion of any class or series of the Company’s capital stock (or any capital stock of a subsidiary of the Company) for any class or series
of the Company’s capital stock or of any class or series of the Company’s indebtedness for any class or series of the Company’s capital stock, (c) the purchase of fractional interests in shares of the Company’s capital stock
pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any stockholder’s rights plan, or the issuance of rights, stock or
other property under any stockholder’s rights plan, or the redemption or repurchase of rights pursuant thereto, or (e) any dividend in the form of stock, warrants, options 

  

 A-4 

 
or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the
dividend is being paid or ranks pari passu with or junior to such stock). Prior to the termination of any Extension Period, the Company may further extend such Extension Period; provided, that no Extension Period (including all
previous and further consecutive extensions that are part of such Extension Period) shall exceed 20 consecutive quarterly periods, or extend beyond the Maturity Date. Upon the termination of any Extension Period and upon the payment of all Deferred
Interest, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest or Deferred Interest shall be due and payable during an Extension Period, except at the end thereof, but Deferred Interest shall accrue
upon each installment of interest that would otherwise have been due and payable during such Extension Period until such installment is paid. The Company must give the Trustee notice of its election to begin or extend an Extension Period at least
one Business Day prior to the regular record date applicable to the next succeeding Interest Payment Date on which interest on the Debt Securities would have been payable except for the election to begin such Extension Period. 
 The indebtedness evidenced by this Debt Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior
payment in full of all Senior Indebtedness, and this Debt Security is issued subject to the provisions of the Indenture with respect thereto. Each holder of this Debt Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on such holder’s behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee such
holder’s attorney-in-fact for any and all such purposes. Each holder hereof, by such holder’s acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each
holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 The Company waives diligence, presentment, demand for payment, notice of nonpayment, notice of protest, and all other demands and notices. 
 This Debt Security shall not be entitled to any benefit under the Indenture hereinafter referred to and shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed by or on
behalf of the Trustee. 
 The provisions of this Debt Security are continued on the reverse side hereof and such continued provisions shall
for all purposes have the same effect as though fully set forth at this place. 
  

 A-5 

 IN WITNESS WHEREOF, the Company has duly executed this certificate. 
  

			
	The PB Financial Services Corporation
		
	By:	 	  
	Name:	 	  
	Title:	 	  

 Dated:
                        , 2005 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Debt Securities referred to in the
within-mentioned Indenture. 
  

			
	JPMorgan Chase Bank, National Association, not
in its individual capacity but solely as Trustee
		
	By:	 	  
		 	Authorized Signatory

 Dated:
                        , 2005 
  

 A-6 

 [FORM OF REVERSE OF SECURITY] 
 This Debt Security is one of a duly authorized series of Debt Securities of the Company, all issued or to be issued pursuant to an Indenture (the
“Indenture”), dated as of March 29, 2005, duly executed and delivered between the Company and JPMorgan Chase Bank, National Association, as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto
reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the holders of the Debt Securities (referred to herein as the “Debt Securities”)
of which this Debt Security is a part. The summary of the terms of this Debt Security contained herein does not purport to be complete and is qualified by reference to the Indenture. 
 Upon the occurrence and continuation of a Tax Event, an Investment Company Event or a Capital Treatment Event (each a “Special Event”), this
Debt Security may become due and payable, in whole or in part, at any time, within 90 days following the occurrence of such Tax Event, Investment Company Event or Capital Treatment Event (the “Special Redemption Date”), as the case may be,
at the Special Redemption Price. 
 The Company shall also have the right to redeem this Debt Security at the option of the Company, in whole
or in part, on any March 15, June 15, September 15 or December 15 on or after June 15, 2010 (a “Redemption Date”), at the Redemption Price. 
 Any redemption pursuant to the preceding paragraph will be made, subject to the receipt by the Company of prior approval from any regulatory authority
with jurisdiction over the Company if such approval is then required under applicable capital guidelines or policies of such regulatory authority, upon not less than 30 days’ nor more than 60 days’ notice. If the Debt Securities are only
partially redeemed by the Company, the Debt Securities will be redeemed pro rata or by lot or by any other method utilized by the Trustee. 
 “Redemption Price” means 100% of the principal amount of the Debt Securities being redeemed plus accrued and unpaid interest on such Debt Securities to the Redemption Date. 
 “Special Redemption Price” means, with respect to the redemption of any Debt Security following a Special Event, an amount in cash equal to
103.525% of the principal amount of Debt Securities to be redeemed prior to June 15, 2006 and thereafter equal to the percentage of the principal amount of the Debt Securities that is specified below for the Special Redemption Date plus, in
each case, unpaid interest accrued thereon to the Special Redemption Date: 
  

			
	 Special Redemption During the
 12-Month Period Beginning March 15
	  	 Percentage of Principal Amount

	 2006
	  	103.140%
	 2007
	  	102.355%
	 2008
	  	101.570%
	 2009
	  	100.785%
	 2010 and thereafter
	  	100.000%

  

 A-7 

 In the event of redemption of this Debt Security in part only, a new Debt Security or Debt Securities for
the unredeemed portion hereof will be issued in the name of the holder hereof upon the cancellation hereof. 
 In certain cases where an
Event of Default, as defined in the Indenture, shall have occurred and be continuing, the principal of all of the Debt Securities may be declared, and, in certain cases, shall ipso facto become, due and payable, and upon such declaration of
acceleration shall become due and payable, in each case, in the manner, with the effect and subject to the conditions provided in the Indenture. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Debt Securities at the time outstanding affected thereby, as
specified in the Indenture, to execute supplemental indentures for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner
the rights of the holders of the Debt Securities; provided, however, that no such supplemental indenture shall, among other things, without the consent of the holders of each Debt Security then outstanding and affected thereby
(i) change the Maturity Date of any Debt Security, or reduce the principal amount thereof or any premium thereon, or reduce the rate (or manner of calculation of the rate) or extend the time of payment of interest thereon, or reduce (other than
as a result of the maturity or earlier redemption of any such Debt Security in accordance with the terms of the Indenture and such Debt Security) or increase the aggregate principal amount of Debt Securities then outstanding, or change any of the
redemption provisions, or make the principal thereof or any interest or premium thereon payable in any coin or currency other than United States Dollars, or impair or affect the right of any holder of Debt Securities to institute suit for the
payment thereof, or (ii) reduce the aforesaid percentage of Debt Securities, the holders of which are required to consent to any such supplemental indenture. The Indenture also contains provisions permitting the holders of a majority in
aggregate principal amount of the Debt Securities at the time outstanding, on behalf of all of the holders of the Debt Securities, to waive any past default in the performance of any of the covenants contained in the Indenture, or established
pursuant to the Indenture, and its consequences, except (a) a default in payments due in respect of any of the Debt Securities, (b) in respect of covenants or provisions of the Indenture which cannot be modified or amended without the
consent of the holder of each Debt Security affected, or (c) in respect of the covenants of the Company relating to its ownership of Common Securities of the Trust. Any such consent or waiver by the registered holder of this Debt Security
(unless revoked as provided in the Indenture) shall be conclusive and binding upon such holder and upon all future holders and owners of this Debt Security and of any Debt Security issued in exchange herefor or in place hereof (whether by
registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Debt Security. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay all payments due on this Debt Security at the
time and place and at the rate and in the money herein prescribed. 
  

 A-8 

 As provided in the Indenture and subject to certain limitations herein and therein set forth, this Debt
Security is transferable by the registered holder hereof on the Debt Security Register of the Company, upon surrender of this Debt Security for registration of transfer at the office or agency of the Trustee in Houston, Texas accompanied by a
written instrument or instruments of transfer in form satisfactory to the Company or the Trustee duly executed by the registered holder hereof or such holder’s attorney duly authorized in writing, and thereupon one or more new Debt Securities
of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be made for any such registration of transfer, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in relation thereto. 
 Prior to due presentment for registration of
transfer of this Debt Security, the Company, the Trustee, any Authenticating Agent, any Paying Agent, any transfer agent and the Debt Security registrar may deem and treat the registered holder hereof as the absolute owner hereof (whether or not
this Debt Security shall be overdue and notwithstanding any notice of ownership or writing hereon) for the purpose of receiving payment of the principal of and premium, if any, and interest on this Debt Security and for all other purposes, and
neither the Company nor the Trustee nor any Authenticating Agent nor any Paying Agent nor any transfer agent nor any Debt Security registrar shall be affected by any notice to the contrary. 
 No recourse shall be had for the payment of the principal of or the interest on this Debt Security, or for any claim based hereon, or otherwise in
respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released.

 The Debt Securities are issuable only in registered certificated form without coupons. As provided in the Indenture and subject to certain
limitations herein and therein set forth, Debt Securities are exchangeable for a like aggregate principal amount of Debt Securities of a different authorized denomination, as requested by the holder surrendering the same. 
 All terms used in this Debt Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THE DEBT SECURITIES, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF. 

 

 A-9

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