Document:

fixx-ex102_943.htm

 

Exhibit 10.2 

HOMOLOGY MEDICINES, INC. 

2018 INCENTIVE AWARD PLAN 

ARTICLE I. 

PURPOSE 

The Plan’s purpose is to enhance the Company’s ability to attract, retain and motivate persons who make (or are expected to make) important contributions to the Company by providing these individuals with equity ownership opportunities. Capitalized terms used in the Plan are defined in Article XI. 

ARTICLE II. 

ELIGIBILITY 

Service Providers are eligible to be granted Awards under the Plan, subject to the limitations described herein. 

ARTICLE III. 

ADMINISTRATION AND DELEGATION 

3.1 Administration. The Plan is administered by the Administrator. The Administrator has authority to determine which Service Providers receive Awards, grant Awards and set Award terms and conditions, subject to the conditions and limitations in the Plan. The Administrator also has the authority to take all actions and make all determinations under the Plan, to interpret the Plan and Award Agreements and to adopt, amend and repeal Plan administrative rules, guidelines and practices as it deems advisable. The Administrator may correct defects and ambiguities, supply omissions and reconcile inconsistencies in the Plan or any Award as it deems necessary or appropriate to administer the Plan and any Awards. The Administrator’s determinations under the Plan are in its sole discretion and will be final and binding on all persons having or claiming any interest in the Plan or any Award. 

3.2 Appointment of Committees. To the extent Applicable Laws permit, the Board may delegate any or all of its powers under the Plan to one or more Committees or officers of the Company or any of its Subsidiaries. The Board may abolish any Committee or re-vest in itself any previously delegated authority at any time. 

ARTICLE IV. 

STOCK AVAILABLE FOR AWARDS 

4.1 Number of Shares. Subject to adjustment under Article VIII and the terms of this Article IV, Awards may be made under the Plan covering up to the Overall Share Limit. As of the Plan’s effective date under Section 10.3, the Company will cease granting awards under the Prior Plans; however, Prior Plan Awards will remain subject to the terms of the applicable Prior Plan. Shares issued under the Plan may consist of authorized but unissued Shares, Shares purchased on the open market or treasury Shares. 

4.2 Share Recycling. If all or any part of an Award or Prior Plan Award expires, lapses or is terminated, exchanged for cash, surrendered, repurchased, canceled without having been fully exercised or forfeited, in any case, in a manner that results in the Company acquiring Shares covered by the Award or Prior Plan Award at a price not greater than the price (as adjusted to reflect any Equity Restructuring) paid by the Participant for such Shares or not issuing any Shares covered by the Award or Prior Plan Award, the unused Shares covered by the Award or Prior Plan Award will, as applicable, become or again be available for Award grants under the Plan. Further, Shares delivered (either by actual delivery or attestation) to the Company by a Participant to satisfy the applicable exercise or purchase price of an Award or Prior Plan Award and/or to satisfy any applicable tax withholding obligation (including Shares retained by the Company from the Award or Prior Plan Award being exercised or purchased and/or creating the tax obligation) will, as applicable, become or again be available for Award grants under the Plan. The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards or Prior Plan Awards shall not count against the Overall Share Limit. 

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4.3 Incentive Stock Option Limitations. Notwithstanding anything to the contrary herein, no more than 20,887,347 Shares may be issued pursuant to the exercise of Incentive Stock Options. 

4.4 Substitute Awards. In connection with an entity’s merger or consolidation with the Company or the Company’s acquisition of an entity’s property or stock, the Administrator may grant Awards in substitution for any options or other stock or stock-based awards granted before such merger or consolidation by such entity or its affiliate. Substitute Awards may be granted on such terms as the Administrator deems appropriate, notwithstanding limitations on Awards in the Plan. Substitute Awards will not count against the Overall Share Limit (nor shall Shares subject to a Substitute Award be added to the Shares available for Awards under the Plan as provided above), except that Shares acquired by exercise of substitute Incentive Stock Options will count against the maximum number of Shares that may be issued pursuant to the exercise of Incentive Stock Options under the Plan. Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by stockholders and not adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant under the Plan (and Shares subject to such Awards shall not be added to the Shares available for Awards under the Plan as provided above); provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to individuals who were not Employees or Directors prior to such acquisition or combination. 

4.5 Non-Employee Director Compensation. Notwithstanding any provision to the contrary in the Plan, the Administrator may establish compensation for non-employee Directors from time to time, subject to the limitations in the Plan. The Administrator will from time to time determine the terms, conditions and amounts of all such non-employee Director compensation in its discretion and pursuant to the exercise of its business judgment, taking into account such factors, circumstances and considerations as it shall deem relevant from time to time, provided that the sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of Awards granted to a non-employee Director as compensation for services as a non-employee Director during any fiscal year of the Company may not exceed $500,000 increased to $750,000 in the fiscal year of a non-employee Director’s initial service as a non-employee Director. The Administrator may make exceptions to this limit for individual non-employee Directors in extraordinary circumstances, as the Administrator may determine in its discretion, provided that the non-employee Director receiving such additional compensation may not participate in the decision to award such compensation or in other contemporaneous compensation decisions involving non-employee Directors. 

ARTICLE V. 

STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 

5.1 General. The Administrator may grant Options or Stock Appreciation Rights to Service Providers subject to the limitations in the Plan, including any limitations in the Plan that apply to Incentive Stock Options. The Administrator will determine the number of Shares covered by each Option and Stock Appreciation Right, the exercise price of each Option and Stock Appreciation Right and the conditions and limitations applicable to the exercise of each Option and Stock Appreciation Right. A Stock Appreciation Right will entitle the Participant (or other person entitled to exercise the Stock Appreciation Right) to receive from the Company upon exercise of the exercisable portion of the Stock Appreciation Right an amount determined by multiplying the excess, if any, of the Fair Market Value of one Share on the date of exercise over the exercise price per Share of the Stock Appreciation Right by the number of Shares with respect to which the Stock Appreciation Right is exercised, subject to any limitations of the Plan or that the Administrator may impose and payable in cash, Shares valued at Fair Market Value or a combination of the two as the Administrator may determine or provide in the Award Agreement. 

5.2 Exercise Price. The Administrator will establish each Option’s and Stock Appreciation Right’s exercise price and specify the exercise price in the Award Agreement. The exercise price will not be less than 100% of the Fair Market Value on the grant date of the Option or Stock Appreciation Right. 

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5.3 Duration. Each Option or Stock Appreciation Right will be exercisable at such times and as specified in the Award Agreement, provided that the term of an Option or Stock Appreciation Right will not exceed ten years. Notwithstanding the foregoing and unless determined otherwise by the Company, in the event that on the last business day of the term of an Option or Stock Appreciation Right (other than an Incentive Stock Option) (i) the exercise of the Option or Stock Appreciation Right is prohibited by Applicable Law, as determined by the Company, or (ii) Shares may not be purchased or sold by the applicable Participant due to any Company insider trading policy (including blackout periods) or a “lock-up” agreement undertaken in connection with an issuance of securities by the Company, the term of the Option or Stock Appreciation Right shall be extended until the date that is thirty (30) days after the end of the legal prohibition, black-out period or lock-up agreement, as determined by the Company; provided, however, in no event shall the extension last beyond the ten year term of the applicable Option or Stock Appreciation Right. Notwithstanding the foregoing, if the Participant, prior to the end of the term of an Option or Stock Appreciation Right, violates the non-competition, non-solicitation, confidentiality or other similar restrictive covenant provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company or any of its Subsidiaries, the right of the Participant and the Participant’s transferees to exercise any Option or Stock Appreciation Right issued to the Participant shall terminate immediately upon such violation, unless the Company otherwise determines. In addition, if, prior to the end of the term of an Option or Stock Appreciation Right, the Participant is given notice by the Company or any of its Subsidiaries of the Participant’s Termination of Service by the Company or any of its Subsidiaries for Cause, and the effective date of such Termination of Service is subsequent to the date of the delivery of such notice, the right of the Participant and the Participant’s transferees to exercise any Option or Stock Appreciation Right issued to the Participant shall be suspended from the time of the delivery of such notice until the earlier of (i) such time as it is determined or otherwise agreed that the Participant’s service as a Service Provider will not be terminated for Cause as provided in such notice or (ii) the effective date of the Participant’s Termination of Service by the Company or any of its Subsidiaries for Cause (in which case the right of the Participant and the Participant’s transferees to exercise any Option or Stock Appreciation Right issued to the Participant will terminate immediately upon the effective date of such termination of Service). 

5.4 Exercise. Options and Stock Appreciation Rights may be exercised by delivering to the Company a written notice of exercise, in a form the Administrator approves (which may be electronic), signed by the person authorized to exercise the Option or Stock Appreciation Right, together with, as applicable, payment in full (i) as specified in Section 5.5 for the number of Shares for which the Award is exercised and (ii) as specified in Section 9.5 for any applicable taxes. Unless the Administrator otherwise determines, an Option or Stock Appreciation Right may not be exercised for a fraction of a Share. 

5.5 Payment Upon Exercise. Subject to Section 10.8, any Company insider trading policy (including blackout periods) and Applicable Laws, the exercise price of an Option must be paid by: 

(a) cash, wire transfer of immediately available funds or by check payable to the order of the Company, provided that the Company may limit the use of one of the foregoing payment forms if one or more of the payment forms below is permitted; 

(b) if there is a public market for Shares at the time of exercise, unless the Company otherwise determines, (A) delivery (including telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to pay the exercise price, or (B) the Participant’s delivery to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to pay the exercise price; provided that such amount is paid to the Company at such time as may be required by the Administrator; 

(c) to the extent permitted by the Administrator, delivery (either by actual delivery or attestation) of Shares owned by the Participant valued at their Fair Market Value; 

(d) to the extent permitted by the Administrator, surrendering Shares then issuable upon the Option’s exercise valued at their Fair Market Value on the exercise date; 

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(e) to the extent permitted by the Administrator, delivery of a promissory note or any other property that the Administrator determines is good and valuable consideration; or 

(f) to the extent permitted by the Company, any combination of the above payment forms approved by the Administrator. 

ARTICLE VI. 

RESTRICTED STOCK; RESTRICTED STOCK UNITS 

6.1 General. The Administrator may grant Restricted Stock, or the right to purchase Restricted Stock, to any Service Provider, subject to the Company’s right to repurchase all or part of such shares at their issue price or other stated or formula price from the Participant (or to require forfeiture of such shares) if conditions the Administrator specifies in the Award Agreement are not satisfied before the end of the applicable restriction period or periods that the Administrator establishes for such Award. In addition, the Administrator may grant to Service Providers Restricted Stock Units, which may be subject to vesting and forfeiture conditions during the applicable restriction period or periods, as set forth in an Award Agreement. The Administrator will determine and set forth in the Award Agreement the terms and conditions for each Restricted Stock and Restricted Stock Unit Award, subject to the conditions and limitations contained in the Plan. 

6.2 Restricted Stock. 

(a) Dividends. Participants holding shares of Restricted Stock will be entitled to all ordinary cash dividends paid with respect to such Shares, unless the Administrator provides otherwise in the Award Agreement. In addition, unless the Administrator provides otherwise, if any dividends or distributions are paid in Shares, or consist of a dividend or distribution to holders of Common Stock of property other than an ordinary cash dividend, the Shares or other property will be subject to the same restrictions on transferability and forfeitability as the shares of Restricted Stock with respect to which they were paid. 

(b) Stock Certificates. The Company may require that the Participant deposit in escrow with the Company (or its designee) any stock certificates issued in respect of shares of Restricted Stock, together with a stock power endorsed in blank. 

6.3 Restricted Stock Units.

(a) Settlement. The Administrator may provide that settlement of Restricted Stock Units will occur upon or as soon as reasonably practicable after the Restricted Stock Units vest or will instead be deferred, on a mandatory basis or at the Participant’s election, in a manner intended to comply with Section 409A. 

(b) Stockholder Rights. A Participant will have no rights of a stockholder with respect to Shares subject to any Restricted Stock Unit unless and until the Shares are delivered in settlement of the Restricted Stock Unit. 

(c) Dividend Equivalents. If the Administrator provides, a grant of Restricted Stock Units may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in cash or Shares and subject to the same restrictions on transferability and forfeitability as the Restricted Stock Units with respect to which the Dividend Equivalents are granted and subject to other terms and conditions as set forth in the Award Agreement. 

ARTICLE VII. 

OTHER STOCK OR CASH BASED AWARDS 

Other Stock or Cash Based Awards may be granted to Participants, including Awards entitling Participants to receive Shares to be delivered in the future and including annual or other periodic or long-term cash bonus awards (whether based on specified Performance Criteria or otherwise), in each case subject to any conditions and limitations in the Plan. Such Other Stock or Cash Based Awards will also be available as a payment form in the settlement of other Awards, as standalone payments and as payment in lieu of compensation to which a Participant 

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is otherwise entitled. Other Stock or Cash Based Awards may be paid in Shares, cash or other property, as the Administrator determines. Subject to the provisions of the Plan, the Administrator will determine the terms and conditions of each Other Stock or Cash Based Award, including any purchase price, performance goal (which may be based on the Performance Criteria), transfer restrictions, and vesting conditions, which will be set forth in the applicable Award Agreement. 

ARTICLE VIII. 

ADJUSTMENTS FOR CHANGES IN COMMON STOCK 

AND CERTAIN OTHER EVENTS 

8.1 Equity Restructuring. In connection with any Equity Restructuring, notwithstanding anything to the contrary in this Article VIII, the Administrator will equitably adjust each outstanding Award as it deems appropriate to reflect the Equity Restructuring, which may include adjusting the number and type of securities subject to each outstanding Award and/or the Award’s exercise price or grant price (if applicable), granting new Awards to Participants, and making a cash payment to Participants. The adjustments provided under this Section 8.1 will be nondiscretionary and final and binding on the affected Participant and the Company; provided that the Administrator will determine whether an adjustment is equitable. 

8.2 Corporate Transactions. In the event of any dividend or other distribution (whether in the form of cash, Common Stock, other securities, or other property), reorganization, merger, consolidation, combination, amalgamation, repurchase, recapitalization, liquidation, dissolution, or sale, transfer, exchange or other disposition of all or substantially all of the assets of the Company, or sale or exchange of Common Stock or other securities of the Company, Change in Control, issuance of warrants or other rights to purchase Common Stock or other securities of the Company, other similar corporate transaction or event, other unusual or nonrecurring transaction or event affecting the Company or its financial statements or any change in any Applicable Laws or accounting principles, the Administrator, on such terms and conditions as it deems appropriate, either by the terms of the Award or by action taken prior to the occurrence of such transaction or event (except that action to give effect to a change in Applicable Law or accounting principles may be made within a reasonable period of time after such change) and either automatically or upon the Participant’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to (x) prevent dilution or enlargement of the benefits or potential benefits intended by the Company to be made available under the Plan or with respect to any Award granted or issued under the Plan, (y) to facilitate such transaction or event or (z) give effect to such changes in Applicable Laws or accounting principles: 

(a) To provide for the cancellation of any such Award in exchange for either an amount of cash or other property with a value equal to the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant’s rights under the vested portion of such Award, as applicable; provided that, if the amount that could have been obtained upon the exercise or settlement of the vested portion of such Award or realization of the Participant’s rights, in any case, is equal to or less than zero, then the Award may be terminated without payment; 

(b) To provide that such Award shall vest and, to the extent applicable, be exercisable as to all shares covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award; 

(c) To provide that such Award be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and/or applicable exercise or purchase price, in all cases, as determined by the Administrator; 

(d) To make adjustments in the number and type of shares of Common Stock (or other securities or property) subject to outstanding Awards and/or with respect to which Awards may be granted under the Plan (including, but not limited to, adjustments of the limitations in Article IV hereof on the maximum number and kind of shares which may be issued) and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards; 

(e) To replace such Award with other rights or property selected by the Administrator; and/or 

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(f) To provide that the Award will terminate and cannot vest, be exercised or become payable after the applicable event. 

8.3 Administrative Stand Still. In the event of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other extraordinary transaction or change affecting the Shares or the share price of Common Stock, including any Equity Restructuring or any securities offering or other similar transaction, for administrative convenience, the Administrator may refuse to permit the exercise of any Award for up to sixty days before or after such transaction. 

8.4 General. Except as expressly provided in the Plan or the Administrator’s action under the Plan, no Participant will have any rights due to any subdivision or consolidation of Shares of any class, dividend payment, increase or decrease in the number of Shares of any class or dissolution, liquidation, merger, or consolidation of the Company or other corporation. Except as expressly provided with respect to an Equity Restructuring under Section 8.1 above or the Administrator’s action under the Plan, no issuance by the Company of Shares of any class, or securities convertible into Shares of any class, will affect, and no adjustment will be made regarding, the number of Shares subject to an Award or the Award’s grant or exercise price. The existence of the Plan, any Award Agreements and the Awards granted hereunder will not affect or restrict in any way the Company’s right or power to make or authorize (i) any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, (ii) any merger, consolidation dissolution or liquidation of the Company or sale of Company assets or (iii) any sale or issuance of securities, including securities with rights superior to those of the Shares or securities convertible into or exchangeable for Shares. The Administrator may treat Participants and Awards (or portions thereof) differently under this Article VIII. 

ARTICLE IX. 

GENERAL PROVISIONS APPLICABLE TO AWARDS 

9.1 Transferability. Except as the Administrator may determine or provide in an Award Agreement or otherwise for Awards other than Incentive Stock Options, Awards may not be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily or by operation of law, except by will or the laws of descent and distribution, or, subject to the Administrator’s consent, pursuant to a domestic relations order, and, during the life of the Participant, will be exercisable only by the Participant. References to a Participant, to the extent relevant in the context, will include references to a Participant’s authorized transferee that the Administrator specifically approves. 

9.2 Documentation. Each Award will be evidenced in an Award Agreement, which may be written or electronic, as the Administrator determines. Each Award may contain terms and conditions in addition to those set forth in the Plan. 

9.3 Discretion. Except as the Plan otherwise provides, each Award may be made alone or in addition or in relation to any other Award. The terms of each Award to a Participant need not be identical, and the Administrator need not treat Participants or Awards (or portions thereof) uniformly. 

9.4 Termination of Status. The Administrator will determine how the disability, death, retirement, authorized leave of absence or any other change or purported change in a Participant’s Service Provider status affects an Award and the extent to which, and the period during which, the Participant, the Participant’s legal representative, conservator, guardian or Designated Beneficiary may exercise rights under the Award, if applicable. 

9.5 Withholding. Each Participant must pay the Company, or make provision satisfactory to the Administrator for payment of, any taxes required by law to be withheld in connection with such Participant’s Awards by the date of the event creating the tax liability. The Company may deduct an amount sufficient to satisfy such tax obligations based on the applicable statutory withholding rates (or such other rate as may be determined by the Company after considering any accounting consequences or costs) from any payment of any kind otherwise due to a Participant. Subject to Section 10.8 and any Company insider trading policy (including blackout periods), Participants may satisfy such tax obligations (i) in cash, by wire transfer of immediately available funds, by check made payable to the order of the Company, provided that the Company may limit the use of the foregoing payment forms if one or more of the payment forms below is permitted, (ii) to the extent permitted by the Administrator, in whole or in part 

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by delivery of Shares, including Shares retained from the Award creating the tax obligation, valued at their Fair Market Value, (iii) if there is a public market for Shares at the time the tax obligations are satisfied, unless the Company otherwise determines, (A) delivery (including telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the tax obligations, or (B) delivery by the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to satisfy the tax withholding; provided that such amount is paid to the Company at such time as may be required by the Administrator, or (iv) to the extent permitted by the Company, any combination of the foregoing payment forms approved by the Administrator. If any tax withholding obligation will be satisfied under clause (ii) of the immediately preceding sentence by the Company’s retention of Shares from the Award creating the tax obligation and there is a public market for Shares at the time the tax obligation is satisfied, the Company may elect to instruct any brokerage firm determined acceptable to the Company for such purpose to sell on the applicable Participant’s behalf some or all of the Shares retained and to remit the proceeds of the sale to the Company or its designee, and each Participant’s acceptance of an Award under the Plan will constitute the Participant’s authorization to the Company and instruction and authorization to such brokerage firm to complete the transactions described in this sentence. 

9.6 Amendment of Award; Repricing. The Administrator may amend, modify or terminate any outstanding Award, including by substituting another Award of the same or a different type, changing the exercise or settlement date, and converting an Incentive Stock Option to a Non-Qualified Stock Option. The Participant’s consent to such action will be required unless (i) the action, taking into account any related action, does not materially and adversely affect the Participant’s rights under the Award, or (ii) the change is permitted under Article VIII or pursuant to Section 10.6. Notwithstanding the foregoing or anything in the Plan to the contrary, the Administrator may not except pursuant to Article VIII, without the approval of the stockholders of the Company, reduce the exercise price per share of outstanding Options or Stock Appreciation Rights or cancel outstanding Options or Stock Appreciation Rights in exchange for cash, other Awards or Options or Stock Appreciation Rights with an exercise price per share that is less than the exercise price per share of the original Options or Stock Appreciation Rights. 

9.7 Conditions on Delivery of Stock. The Company will not be obligated to deliver any Shares under the Plan or remove restrictions from Shares previously delivered under the Plan until (i) all Award conditions have been met or removed to the Company’s satisfaction, (ii) as determined by the Company, all other legal matters regarding the issuance and delivery of such Shares have been satisfied, including any applicable securities laws and stock exchange or stock market rules and regulations, and (iii) the Participant has executed and delivered to the Company such representations or agreements as the Administrator deems necessary or appropriate to satisfy any Applicable Laws. The Company’s inability to obtain authority from any regulatory body having jurisdiction, which the Administrator determines is necessary to the lawful issuance and sale of any securities, will relieve the Company of any liability for failing to issue or sell such Shares as to which such requisite authority has not been obtained. 

9.8 Acceleration. The Administrator may at any time provide that any Award will become immediately vested and fully or partially exercisable, free of some or all restrictions or conditions, or otherwise fully or partially realizable. 

9.9 Additional Terms of Incentive Stock Options. The Administrator may grant Incentive Stock Options only to employees of the Company, any of its present or future parent or subsidiary corporations, as defined in Sections 424(e) or (f) of the Code, respectively, and any other entities the employees of which are eligible to receive Incentive Stock Options under the Code. If an Incentive Stock Option is granted to a Greater Than 10% Stockholder, the exercise price will not be less than 110% of the Fair Market Value on the Option’s grant date, and the term of the Option will not exceed five years. All Incentive Stock Options will be subject to and construed consistently with Section 422 of the Code. By accepting an Incentive Stock Option, the Participant agrees to give prompt notice to the Company of dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Option made within (i) two years from the grant date of the Option or (ii) one year after the transfer of such Shares to the Participant, specifying the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, assumption of indebtedness or other consideration, in such disposition or other transfer. Neither the Company nor the Administrator will be liable to a Participant, or any other party, if an Incentive Stock Option fails or ceases to qualify as an “incentive stock option” under Section 422 of the Code. Any Incentive Stock Option or portion thereof that fails to qualify as an “incentive stock option” under Section 422 of the Code for 

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any reason, including becoming exercisable with respect to Shares having a fair market value exceeding the $100,000 limitation under Treasury Regulation Section 1.422-4, will be a Non-Qualified Stock Option. 

ARTICLE X. 

MISCELLANEOUS 

10.1 No Right to Employment or Other Status. No person will have any claim or right to be granted an Award, and the grant of an Award will not be construed as giving a Participant the right to continued employment or any other relationship with the Company. The Company expressly reserves the right at any time to dismiss or otherwise terminate its relationship with a Participant free from any liability or claim under the Plan or any Award, except as expressly provided in an Award Agreement. 

10.2 No Rights as Stockholder; Certificates. Subject to the Award Agreement, no Participant or Designated Beneficiary will have any rights as a stockholder with respect to any Shares to be distributed under an Award until becoming the record holder of such Shares. Notwithstanding any other provision of the Plan, unless the Administrator otherwise determines or Applicable Laws require, the Company will not be required to deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares may be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). The Company may place legends on stock certificates issued under the Plan that the Administrator deems necessary or appropriate to comply with Applicable Laws. 

10.3 Effective Date and Term of Plan. Unless earlier terminated by the Board, the Plan will become effective on the day prior to the Public Trading Date and will remain in effect until the tenth anniversary of the earlier of (i) the date the Board adopted the Plan or (ii) the date the Company’s stockholders approved the Plan, but Awards previously granted may extend beyond that date in accordance with the Plan. If the Plan is not approved by the Company’s stockholders, the Plan will not become effective, no Awards will be granted under the Plan and the Prior Plans will continue in full force and effect in accordance with their terms. 

10.4 Amendment of Plan. The Administrator may amend, suspend or terminate the Plan at any time; provided that no amendment, other than an increase to the Overall Share Limit, may materially and adversely affect any Award outstanding at the time of such amendment without the affected Participant’s consent. No Awards may be granted under the Plan during any suspension period or after Plan termination. Awards outstanding at the time of any Plan suspension or termination will continue to be governed by the Plan and the Award Agreement, as in effect before such suspension or termination. The Board will obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable Laws. 

10.5 Provisions for Foreign Participants. The Administrator may modify Awards granted to Participants who are foreign nationals or employed outside the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to tax, securities, currency, employee benefit or other matters. 

10.6 Section 409A. 

(a) General. The Company intends that all Awards be structured to comply with, or be exempt from, Section 409A, such that no adverse tax consequences, interest, or penalties under Section 409A apply. Notwithstanding anything in the Plan or any Award Agreement to the contrary, the Administrator may, without a Participant’s consent, amend this Plan or Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and retroactive actions) as are necessary or appropriate to preserve the intended tax treatment of Awards, including any such actions intended to (A) exempt this Plan or any Award from Section 409A, or (B) comply with Section 409A, including regulations, guidance, compliance programs and other interpretative authority that may be issued after an Award’s grant date. The Company makes no representations or warranties as to an Award’s tax treatment under Section 409A or otherwise. The Company will have no obligation under this Section 10.6 or otherwise to avoid the taxes, penalties or interest under Section 409A with respect to any Award and will have no liability to any Participant or any other person if any Award, compensation or other benefits under the Plan are determined to constitute noncompliant “nonqualified deferred compensation” subject to taxes, penalties or interest under Section 409A. 

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(b) Separation from Service. If an Award constitutes “nonqualified deferred compensation” under Section 409A, any payment or settlement of such Award upon a termination of a Participant’s Service Provider relationship will, to the extent necessary to avoid taxes under Section 409A, be made only upon the Participant’s “separation from service” (within the meaning of Section 409A), whether such “separation from service” occurs upon or after the termination of the Participant’s Service Provider relationship. For purposes of this Plan or any Award Agreement relating to any such payments or benefits, references to a “termination,” “termination of employment” or like terms means a “separation from service.” 

(c) Payments to Specified Employees. Notwithstanding any contrary provision in the Plan or any Award Agreement, any payment(s) of “nonqualified deferred compensation” required to be made under an Award to a “specified employee” (as defined under Section 409A and as the Administrator determines) due to his or her “separation from service” will, to the extent necessary to avoid taxes under Section 409A(a)(2)(B)(i) of the Code, be delayed for the six-month period immediately following such “separation from service” (or, if earlier, until the specified employee’s death) and will instead be paid (as set forth in the Award Agreement) on the day immediately following such six-month period or as soon as administratively practicable thereafter (without interest). Any payments of “nonqualified deferred compensation” under such Award payable more than six months following the Participant’s “separation from service” will be paid at the time or times the payments are otherwise scheduled to be made. 

10.7 Limitations on Liability. Notwithstanding any other provisions of the Plan, no individual acting as a director, officer, other employee or agent of the Company or any Subsidiary will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan or any Award, and such individual will not be personally liable with respect to the Plan because of any contract or other instrument executed in his or her capacity as an Administrator, director, officer, other employee or agent of the Company or any Subsidiary. The Company will indemnify and hold harmless each director, officer, other employee and agent of the Company or any Subsidiary that has been or will be granted or delegated any duty or power relating to the Plan’s administration or interpretation, against any cost or expense (including attorneys’ fees) or liability (including any sum paid in settlement of a claim with the Administrator’s approval) arising from any act or omission concerning this Plan unless arising from such person’s own fraud or bad faith. 

10.8 Lock-Up Period. The Company may, at the request of any underwriter representative or otherwise, in connection with registering the offering of any Company securities under the Securities Act, prohibit Participants from, directly or indirectly, selling or otherwise transferring any Shares or other Company securities during a period of up to one hundred eighty days following the effective date of a Company registration statement filed under the Securities Act, or such longer period as determined by the underwriter. 

10.9 Data Privacy. As a condition for receiving any Award, each Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this section by and among the Company and its Subsidiaries and affiliates exclusively for implementing, administering and managing the Participant’s participation in the Plan. The Company and its Subsidiaries and affiliates may hold certain personal information about a Participant, including the Participant’s name, address and telephone number; birthdate; social security, insurance number or other identification number; salary; nationality; job title(s); any Shares held in the Company or its Subsidiaries and affiliates; and Award details, to implement, manage and administer the Plan and Awards (the “Data”). The Company and its Subsidiaries and affiliates may transfer the Data amongst themselves as necessary to implement, administer and manage a Participant’s participation in the Plan, and the Company and its Subsidiaries and affiliates may transfer the Data to third parties assisting the Company with Plan implementation, administration and management. These recipients may be located in the Participant’s country, or elsewhere, and the Participant’s country may have different data privacy laws and protections than the recipients’ country. By accepting an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, to implement, administer and manage the Participant’s participation in the Plan, including any required Data transfer to a broker or other third party with whom the Company or the Participant may elect to deposit any Shares. The Data related to a Participant will be held only as long as necessary to implement, administer, and manage the Participant’s participation in the Plan. A Participant may, at any time, view the Data that the Company holds regarding such Participant, request additional information about the storage and processing of the Data regarding such Participant, recommend any necessary corrections to the Data regarding the Participant or refuse or withdraw the consents in this Section 10.9 in writing, without cost, by contacting the local human resources representative. The Company may cancel Participant’s ability to participate in the Plan and, in the 

9

 

Administrator’s discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws the consents in this Section 10.9. For more information on the consequences of refusing or withdrawing consent, Participants may contact their local human resources representative. 

10.10 Severability. If any portion of the Plan or any action taken under it is held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provisions had been excluded, and the illegal or invalid action will be null and void. 

10.11 Governing Documents. If any contradiction occurs between the Plan and any Award Agreement or other written agreement between a Participant and the Company (or any Subsidiary) that the Administrator has approved, the Plan will govern, unless it is expressly specified in such Award Agreement or other written document that a specific provision of the Plan will not apply. 

10.12 Governing Law. The Plan and all Awards will be governed by and interpreted in accordance with the laws of the State of Delaware, disregarding any state’s choice-of-law principles requiring the application of a jurisdiction’s laws other than the State of Delaware. 

10.13 Claw-back Provisions. All Awards (including any proceeds, gains or other economic benefit the Participant actually or constructively receives upon receipt or exercise of any Award or the receipt or resale of any Shares underlying the Award) will be subject to any Company claw-back policy, including any claw-back policy adopted to comply with Applicable Laws (including the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder) as set forth in such claw-back policy or the Award Agreement. 

10.14 Titles and Headings. The titles and headings in the Plan are for convenience of reference only and, if any conflict, the Plan’s text, rather than such titles or headings, will control. 

10.15 Conformity to Securities Laws. Participant acknowledges that the Plan is intended to conform to the extent necessary with Applicable Laws. Notwithstanding anything herein to the contrary, the Plan and all Awards will be administered only in conformance with Applicable Laws. To the extent Applicable Laws permit, the Plan and all Award Agreements will be deemed amended as necessary to conform to Applicable Laws. 

10.16 Relationship to Other Benefits. No payment under the Plan will be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except as expressly provided in writing in such other plan or an agreement thereunder. 

10.17 Broker-Assisted Sales. In the event of a broker-assisted sale of Shares in connection with the payment of amounts owed by a Participant under or with respect to the Plan or Awards, including amounts to be paid under the final sentence of Section 9.5: (a) any Shares to be sold through the broker-assisted sale will be sold on the day the payment first becomes due, or as soon thereafter as practicable; (b) such Shares may be sold as part of a block trade with other Participants in the Plan in which all participants receive an average price; (c) the applicable Participant will be responsible for all broker’s fees and other costs of sale, and by accepting an Award, each Participant agrees to indemnify and hold the Company harmless from any losses, costs, damages, or expenses relating to any such sale; (d) to the extent the Company or its designee receives proceeds of such sale that exceed the amount owed, the Company will pay such excess in cash to the applicable Participant as soon as reasonably practicable; (e) the Company and its designees are under no obligation to arrange for such sale at any particular price; and (f) in the event the proceeds of such sale are insufficient to satisfy the Participant’s applicable obligation, the Participant may be required to pay immediately upon demand to the Company or its designee an amount in cash sufficient to satisfy any remaining portion of the Participant’s obligation. 

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ARTICLE XI. 

DEFINITIONS 

As used in the Plan, the following words and phrases will have the following meanings: 

11.1 “Administrator” means the Board or a Committee to the extent that the Board’s powers or authority under the Plan have been delegated to such Committee. 

11.2 “Applicable Laws” means the requirements relating to the administration of equity incentive plans under U.S. federal and state securities, tax and other applicable laws, rules and regulations, the applicable rules of any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws and rules of any foreign country or other jurisdiction where Awards are granted. 

11.3 “Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units or Other Stock or Cash Based Awards. 

11.4 “Award Agreement” means a written agreement evidencing an Award, which may be electronic, that contains such terms and conditions as the Administrator determines, consistent with and subject to the terms and conditions of the Plan. 

11.5 “Board” means the Board of Directors of the Company. 

11.6 “Cause” means (i) if a Participant is a party to a written employment or consulting agreement with the Company or any of its Subsidiaries or an Award Agreement in which the term “cause” is defined (a “Relevant Agreement”), “Cause” as defined in the Relevant Agreement, and (ii) if no Relevant Agreement exists, (A) the Administrator’s determination that the Participant failed to substantially perform the Participant’s duties (other than a failure resulting from the Participant’s Disability); (B) the Administrator’s determination that the Participant failed to carry out, or comply with any lawful and reasonable directive of the Board or the Participant’s immediate supervisor; (C) the occurrence of any act or omission by the Participant that could reasonably be expected to result in (or has resulted in) the Participant’s conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation for any felony or indictable offense or crime involving moral turpitude; (D) the Participant’s unlawful use (including being under the influence) or possession of illegal drugs on the premises of the Company or any of its Subsidiaries or while performing the Participant’s duties and responsibilities for the Company or any of its Subsidiaries; or (E) the Participant’s commission of an act of fraud, embezzlement, misappropriation, misconduct, or breach of fiduciary duty against the Company or any of its Subsidiaries. 

11.7 “Change in Control” means and includes each of the following: 

(a) A transaction or series of transactions (other than an offering of Common Stock to the general public through a registration statement filed with the Securities and Exchange Commission or a transaction or series of transactions that meets the requirements of clauses (i) and (ii) of subsection (c) below) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any of its Subsidiaries, an employee benefit plan maintained by the Company or any of its Subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s securities outstanding immediately after such acquisition; or 

(b) During any period of two consecutive years, individuals who, at the beginning of such period, constitute the Board together with any new Director(s) (other than a Director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in subsections (a) or (c)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the Directors then still in office who either were Directors at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 

11

 

(c) The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets or stock of another entity, in each case other than a transaction: 

(i) which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and 

(ii) after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (ii) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction. 

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award (or portion of any Award) that provides for the deferral of compensation that is subject to Section 409A, to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described in subsection (a), (b) or (c) with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5).

The Administrator shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation. 

11.8 “Code” means the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder. 

11.9 “Committee” means one or more committees or subcommittees of the Board, which may include one or more Company directors or executive officers, to the extent Applicable Laws permit. To the extent required to comply with the provisions of Rule 16b-3, it is intended that each member of the Committee will be, at the time the Committee takes any action with respect to an Award that is subject to Rule 16b-3, a “non-employee director” within the meaning of Rule 16b-3; however, a Committee member’s failure to qualify as a “non-employee director” within the meaning of Rule 16b-3 will not invalidate any Award granted by the Committee that is otherwise validly granted under the Plan. 

11.10 “Common Stock” means the common stock of the Company. 

11.11 “Company” means Homology Medicines, Inc., a Delaware corporation, or any successor. 

11.12 “Consultant” means any person, including any adviser, engaged by the Company or its parent or Subsidiary to render services to such entity if the consultant or adviser: (i) renders bona fide services to the Company; (ii) renders services not in connection with the offer or sale of securities in a capital-raising transaction and does not directly or indirectly promote or maintain a market for the Company’s securities; and (iii) is a natural person. 

11.13 “Designated Beneficiary” means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate. 

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11.14 “Director” means a Board member. 

11.15 “Disability” means a permanent and total disability under Section 22(e)(3) of the Code, as amended. 

11.16 “Dividend Equivalents” means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares. 

11.17 “Employee” means any employee of the Company or its Subsidiaries. 

11.18 “Equity Restructuring” means a nonreciprocal transaction between the Company and its stockholders, such as a stock dividend, stock split, spin-off or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of Shares (or other Company securities) or the share price of Common Stock (or other Company securities) and causes a change in the per share value of the Common Stock underlying outstanding Awards. 

11.19 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

11.20 “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: (i) if the Common Stock is listed on any established stock exchange, its Fair Market Value will be the closing sales price for such Common Stock as quoted on such exchange for such date, or if no sale occurred on such date, the last day preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator deems reliable; (ii) if the Common Stock is not traded on a stock exchange but is quoted on a national market or other quotation system, the closing sales price on such date, or if no sales occurred on such date, then on the last date preceding such date during which a sale occurred, as reported in The Wall Street Journal or another source the Administrator deems reliable; or (iii) without an established market for the Common Stock, the Administrator will determine the Fair Market Value in its discretion. Notwithstanding the foregoing, with respect to any Award granted on the pricing date of the Company’s initial public offering, the Fair Market Value shall mean the initial public offering price of a Share as set forth in the Company’s final prospectus relating to its initial public offering filed with the Securities and Exchange Commission. 

11.21 “Greater Than 10% Stockholder” means an individual then owning (within the meaning of Section 424(d) of the Code) more than 10% of the total combined voting power of all classes of stock of the Company or its parent or subsidiary corporation, as defined in Section 424(e) and (f) of the Code, respectively. 

11.22 “Incentive Stock Option” means an Option intended to qualify as an “incentive stock option” as defined in Section 422 of the Code. 

11.23 “Non-Qualified Stock Option” means an Option not intended or not qualifying as an Incentive Stock Option. 

11.24 “Option” means an option to purchase Shares. 

11.25 “Other Stock or Cash Based Awards” means cash awards, awards of Shares, and other awards valued wholly or partially by referring to, or are otherwise based on, Shares or other property. 

11.26 “Overall Share Limit” means the sum of (i) 3,186,205 Shares; (ii) any shares of Common Stock which are subject to Prior Plan Awards which become available for issuance under the Plan pursuant to Article IV and (iii) an annual increase on the first day of each calendar year beginning January 1, 2019 and ending on and including January 1, 2028, equal to the lesser of (A) 4% of the aggregate number of shares of Common Stock outstanding on the final day of the immediately preceding calendar year and (B) such smaller number of Shares as is determined by the Board. 

11.27 “Participant” means a Service Provider who has been granted an Award. 

11.28 “Performance Criteria” mean the criteria (and adjustments) that the Administrator may select for an Award to establish performance goals for a performance period, which may include the following: net earnings or losses (either before or after one or more of interest, taxes, depreciation, amortization, and non-cash equity-based 

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compensation expense); gross or net sales or revenue or sales or revenue growth; net income (either before or after taxes) or adjusted net income; profits (including but not limited to gross profits, net profits, profit growth, net operation profit or economic profit), profit return ratios or operating margin; budget or operating earnings (either before or after taxes or before or after allocation of corporate overhead and bonus); cash flow (including operating cash flow and free cash flow or cash flow return on capital); return on assets; return on capital or invested capital; cost of capital; return on stockholders’ equity; total stockholder return; return on sales; costs, reductions in costs and cost control measures; expenses; working capital; earnings or loss per share; adjusted earnings or loss per share; price per share or dividends per share (or appreciation in or maintenance of such price or dividends); regulatory achievements or compliance; implementation, completion or attainment of objectives relating to research, development, regulatory, commercial, or strategic milestones or developments; market share; economic value or economic value added models; division, group or corporate financial goals; customer satisfaction/growth; customer service; employee satisfaction; recruitment and maintenance of personnel; human resources management; supervision of litigation and other legal matters; strategic partnerships and transactions; financial ratios (including those measuring liquidity, activity, profitability or leverage); debt levels or reductions; sales-related goals; financing and other capital raising transactions; cash on hand; acquisition activity; investment sourcing activity; and marketing initiatives, any of which may be measured in absolute terms or as compared to any incremental increase or decrease. Such performance goals also may be based solely by reference to the Company’s performance or the performance of a Subsidiary, division, business segment or business unit of the Company or a Subsidiary, or based upon performance relative to performance of other companies or upon comparisons of any of the indicators of performance relative to performance of other companies. The Committee may provide for exclusion of the impact of an event or occurrence which the Committee determines should appropriately be excluded, including (a) restructurings, discontinued operations, extraordinary items, and other unusual, infrequently occurring or non-recurring charges or events, (b) asset write-downs, (c) litigation or claim judgments or settlements, (d) acquisitions or divestitures, (e) reorganization or change in the corporate structure or capital structure of the Company, (f) an event either not directly related to the operations of the Company, Subsidiary, division, business segment or business unit or not within the reasonable control of management, (g) foreign exchange gains and losses, (h) a change in the fiscal year of the Company, (i) the refinancing or repurchase of bank loans or debt securities, (j) unbudgeted capital expenditures, (k) the issuance or repurchase of equity securities and other changes in the number of outstanding shares, (l) conversion of some or all of convertible securities to Common Stock, (m) any business interruption event (n) the cumulative effects of tax or accounting changes in accordance with U.S. generally accepted accounting principles, or (o) the effect of changes in other laws or regulatory rules affecting reported results. 

11.29 “Plan” means this 2018 Incentive Award Plan. 

11.30 “Prior Plans” means, collectively, the Homology Medicines, Inc. 2015 Stock Incentive Plan and any prior equity incentive plans of the Company or its predecessor. 

11.31 “Prior Plan Award” means an award outstanding under the Prior Plans as of the Plan’s effective date in Section 10.3. 

11.32 “Public Trading Date” means the first date upon which the Common Stock is listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system, or, if earlier, the date on which the Company becomes a “publicly held corporation” for purposes of Treasury Regulation Section 1.162-27(c)(1).

11.33 “Restricted Stock” means Shares awarded to a Participant under Article VI subject to certain vesting conditions and other restrictions. 

11.34 “Restricted Stock Unit” means an unfunded, unsecured right to receive, on the applicable settlement date, one Share or an amount in cash or other consideration determined by the Administrator to be of equal value as of such settlement date, subject to certain vesting conditions and other restrictions. 

11.35 “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act. 

11.36 “Section 409A” means Section 409A of the Code and all regulations, guidance, compliance programs and other interpretative authority thereunder. 

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11.37 “Securities Act” means the Securities Act of 1933, as amended. 

11.38 “Service Provider” means an Employee, Consultant or Director. 

11.39 “Shares” means shares of Common Stock. 

11.40 “Stock Appreciation Right” means a stock appreciation right granted under Article V. 

11.41 “Subsidiary” means any entity (other than the Company), whether domestic or foreign, in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing at least 50% of the total combined voting power of all classes of securities or interests in one of the other entities in such chain. 

11.42 “Substitute Awards” shall mean Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines. 

11.43 “Termination of Service” means the date the Participant ceases to be a Service Provider. 

* * * * * 

 

 

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HOMOLOGY MEDICINES, INC. 

2018 INCENTIVE AWARD PLAN 

STOCK OPTION GRANT NOTICE 

Capitalized terms not specifically defined in this Stock Option Grant Notice (the “Grant Notice”) have the meanings given to them in the 2018 Incentive Award Plan (as amended from time to time, the “Plan”) of Homology Medicines, Inc. (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the stock option described in this Grant Notice (the “Option”), subject to the terms and conditions of the Plan and the Stock Option Agreement attached as Exhibit A (the “Agreement”), both of which are incorporated into this Grant Notice by reference. 

 

	
Participant:
	
 
	
 

	
 
	
 

	
Grant Date:
	
 
	
 

	
 
	
 

	
Exercise Price per Share:
	
 
	
 

	
 
	
 

	
Shares Subject to the Option:
	
 
	
 

	
 
	
 

	
Final Expiration Date:
	
 
	
 

	
 
	
 

	
Vesting Commencement Date:
	
 
	
 

	
 
	
 

	
Vesting Schedule:
	
 
	
[To be specified in individual award agreements]

	
 
	
 

	
Type of Option
	
 
	
[Incentive Stock Option/Non-Qualified Stock Option]

 

By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. 

 

	
HOMOLOGY MEDICINES, INC.
	
 
	
PARTICIPANT

	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
[Participant Name]

	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 

 

 

 

 

 

Exhibit A 

STOCK OPTION AGREEMENT 

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan. 

ARTICLE I. 

GENERAL 

1.1 Grant of Option. The Company has granted to Participant the Option effective as of the grant date set forth in the Grant Notice (the “Grant Date”). 

1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control. 

ARTICLE II. 

PERIOD OF EXERCISABILITY 

2.1 Commencement of Exercisability. The Option will vest and become exercisable according to the vesting schedule in the Grant Notice (the “Vesting Schedule”) except that any fraction of a Share as to which the Option would be vested or exercisable will be accumulated and will vest and become exercisable only when a whole Share has accumulated. Notwithstanding anything in the Grant Notice, the Plan or this Agreement to the contrary, unless the Administrator otherwise determines, the Option will immediately expire and be forfeited as to any portion that is not vested and exercisable as of Participant’s Termination of Service for any reason. 

2.2 Duration of Exercisability. The Vesting Schedule is cumulative. Any portion of the Option which vests and becomes exercisable will remain vested and exercisable until the Option expires. The Option will be forfeited immediately upon its expiration. 

2.3 Expiration of Option. The Option may not be exercised to any extent by anyone after, and will expire on, the first of the following to occur: 

(a) The final expiration date in the Grant Notice; 

(b) Except as the Administrator may otherwise approve, the expiration of three (3) months from the date of Participant’s Termination of Service, unless Participant’s Termination of Service is for Cause or by reason of Participant’s death or Disability; 

(c) Except as the Administrator may otherwise approve, the expiration of one (1) year from the date of Participant’s Termination of Service by reason of Participant’s death or Disability; and 

(d) Except as the Administrator may otherwise approve, Participant’s Termination of Service for Cause. 

ARTICLE III. 

EXERCISE OF OPTION 

3.1 Person Eligible to Exercise. During Participant’s lifetime, only Participant may exercise the Option. After Participant’s death, any exercisable portion of the Option may, prior to the time the Option expires, be exercised by Participant’s Designated Beneficiary as provided in the Plan. 

3.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if then wholly exercisable, may be exercised, in whole or in part, according to the procedures in the Plan at any time prior to the time the Option or portion thereof expires, except that the Option may only be exercised for whole Shares. 

A-1

 

3.3 Tax Withholding. 

(a) The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in accordance with the Plan of any withholding tax arising in connection with the Option as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the Option. 

(b) Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the Option, regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the Option. Neither the Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or exercise of the Option or the subsequent sale of Shares. The Company and the Subsidiaries do not commit and are under no obligation to structure the Option to reduce or eliminate Participant’s tax liability. 

ARTICLE IV. 

OTHER PROVISIONS 

4.1 Adjustments. Participant acknowledges that the Option is subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. 

4.2 Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant (or, if Participant is then deceased, to the person entitled to exercise the Option) at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually received, when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation. 

4.3 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

4.4 Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws. 

4.5 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

4.6 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the Option will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

4.7 Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

A-2

 

4.8 Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

4.9 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to the Option, as and when exercised pursuant to the terms hereof. 

4.10 Not a Contract of Employment. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

4.11 Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 

4.12 Incentive Stock Options. If the Option is designated as an Incentive Stock Option: 

(a) Participant acknowledges that to the extent the aggregate fair market value of shares (determined as of the time the option with respect to the shares is granted) with respect to which stock options intended to qualify as “incentive stock options” under Section 422 of the Code, including the Option, are exercisable for the first time by Participant during any calendar year exceeds $100,000 or if for any other reason such stock options do not qualify or cease to qualify for treatment as “incentive stock options” under Section 422 of the Code, such stock options (including the Option) will be treated as non-qualified stock options. Participant further acknowledges that the rule set forth in the preceding sentence will be applied by taking the Option and other stock options into account in the order in which they were granted, as determined under Section 422(d) of the Code. Participant acknowledges that amendments or modifications made to the Option pursuant to the Plan that would cause the Option to become a Non-Qualified Stock Option will not materially or adversely affect Participant’s rights under the Option, and that any such amendment or modification shall not require Participant’s consent. Participant also acknowledges that if the Option is exercised more than three (3) months after Participant’s Termination of Service as an Employee, other than by reason of death or disability, the Option will be taxed as a Non-Qualified Stock Option. 

(b) Participant will give prompt written notice to the Company of any disposition or other transfer of any Shares acquired under this Agreement if such disposition or other transfer is made (a) within two (2) years from the Grant Date or (b) within one (1) year after the transfer of such Shares to Participant. Such notice will specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or other consideration, by Participant in such disposition or other transfer. 

* * * * * 

 

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HOMOLOGY MEDICINES, INC. 

2018 INCENTIVE AWARD PLAN 

RESTRICTED STOCK GRANT NOTICE 

Capitalized terms not specifically defined in this Restricted Stock Grant Notice (the “Grant Notice”) have the meanings given to them in the 2018 Incentive Award Plan (as amended from time to time, the “Plan”) of Homology Medicines, Inc. (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the shares of Restricted Stock described in this Grant Notice (the “Restricted Shares”), subject to the terms and conditions of the Plan and the Restricted Stock Agreement attached as Exhibit A (the “Agreement”), both of which are incorporated into this Grant Notice by reference. 

 

	
Participant:
	
 
	
 

	
 
	
 

	
Grant Date:
	
 
	
 

	
 
	
 

	
Number of Restricted Shares:
	
 
	
 

	
 
	
 

	
Vesting Commencement Date:
	
 
	
 

	
 
	
 

	
Vesting Schedule:
	
 
	
[To be specified in individual award agreements]

 

By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. 

 

	
HOMOLOGY MEDICINES, INC.
	
 
	
PARTICIPANT

	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
[Participant Name]

	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 

 

 

A-4

 

 

Exhibit A 

RESTRICTED STOCK AGREEMENT 

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan. 

ARTICLE I.

GENERAL 

1.1 Issuance of Restricted Shares. The Company will issue the Restricted Shares to the Participant effective as of the grant date set forth in the Grant Notice and will cause (a) a stock certificate or certificates representing the Restricted Shares to be registered in Participant’s name or (b) the Restricted Shares to be held in book-entry form. If a stock certificate is issued, the certificate will be delivered to, and held in accordance with this Agreement by, the Company or its authorized representatives and will bear the restrictive legends required by this Agreement. If the Restricted Shares are held in book-entry form, then the book-entry will indicate that the Restricted Shares are subject to the restrictions of this Agreement. 

1.2 Incorporation of Terms of Plan. The Restricted Shares are subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control. 

ARTICLE II. 

VESTING, FORFEITURE AND ESCROW 

2.1 Vesting. The Restricted Shares will become vested Shares (the “Vested Shares”) according to the vesting schedule in the Grant Notice except that any fraction of a Share that would otherwise become a Vested Share will be accumulated and will become a Vested Share only when a whole Vested Share has accumulated. 

2.2 Forfeiture. In the event of Participant’s Termination of Service for any reason, Participant will immediately and automatically forfeit to the Company any Shares that are not Vested Shares (the “Unvested Shares”) at the time of Participant’s Termination of Service, except as otherwise determined by the Administrator or provided in a binding written agreement between Participant and the Company. Upon forfeiture of Unvested Shares, the Company will become the legal and beneficial owner of the Unvested Shares and all related interests and Participant will have no further rights with respect to the Unvested Shares. 

2.3 Escrow. 

(a) Unvested Shares will be held by the Company or its authorized representatives until (i) they are forfeited, (ii) they become Vested Shares or (iii) this Agreement is no longer in effect. By accepting this Award, Participant appoints the Company and its authorized representatives as Participant’s attorney(s)-in-fact to take all actions necessary to effect any transfer of forfeited Unvested Shares (and Retained Distributions (as defined below), if any, paid on such forfeited Unvested Shares) to the Company as may be required pursuant to the Plan or this Agreement and to execute such representations or other documents or assurances as the Company or such representatives deem necessary or advisable in connection with any such transfer. The Company, or its authorized representative, will not be liable for any good faith act or omission with respect to the holding in escrow or transfer of the Restricted Shares. 

 

(b) All cash dividends and other distributions made or declared with respect to Unvested Shares (“Retained Distributions”) will be held by the Company until the time (if ever) when the Unvested Shares to which such Retained Distributions relate become Vested Shares. The Company will establish a separate Retained Distribution bookkeeping account (“Retained Distribution Account”) for each Unvested Share with respect to which Retained Distributions have been made or declared in cash and credit the Retained Distribution Account (without interest) on the date of payment with the amount of such cash made or declared with respect to the Unvested Share. Retained 

A-1

 

Distributions (including any Retained Distribution Account balance) will immediately and automatically be forfeited upon forfeiture of the Unvested Share with respect to which the Retained Distributions were paid or declared. 

(c) As soon as reasonably practicable following the date on which an Unvested Share becomes a Vested Share, the Company will (i) cause the certificate (or a new certificate without the legend required by this Agreement, if Participant so requests) representing the Share to be delivered to Participant or, if the Share is held in book-entry form, cause the notations indicating the Share is subject to the restrictions of this Agreement to be removed and (ii) pay to Participant the Retained Distributions relating to the Share. 

2.4 Rights as Stockholder. Except as otherwise provided in this Agreement or the Plan, upon issuance of the Restricted Shares by the Company, Participant will have all the rights of a stockholder with respect to the Restricted Shares, including the right to vote the Restricted Shares and to receive dividends or other distributions paid or made with respect to the Restricted Shares. 

ARTICLE III. 

TAXATION AND TAX WITHHOLDING 

3.1 Representation. Participant represents to the Company that Participant has reviewed with Participant’s own tax advisors the tax consequences of the Restricted Shares and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. 

3.2 Section 83(b) Election. If Participant makes an election under Section 83(b) of the Code with respect to the Restricted Shares, Participant will deliver a copy of the election to the Company promptly after filing the election with the Internal Revenue Service. 

3.3 Tax Withholding. 

(a) The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in accordance with the Plan of any withholding tax arising in connection with the Restricted Shares as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise deliverable under the Award. 

(b) Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the Restricted Shares, regardless of any action the Company or any Subsidiary takes with respect to any tax withholding obligations that arise in connection with the Restricted Shares. Neither the Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or payment of the Restricted Shares or the subsequent sale of the Restricted Shares. The Company and the Subsidiaries do not commit and are under no obligation to structure this Award to reduce or eliminate Participant’s tax liability. 

 

ARTICLE IV. 

RESTRICTIVE LEGENDS AND TRANSFERABILITY 

4.1 Legends. Any certificate representing a Restricted Share will bear the following legend until the Restricted Share becomes a Vested Share: 

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO FORFEITURE IN FAVOR OF THE COMPANY AND MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A RESTRICTED STOCK AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 

4.2 Transferability. The Restricted Shares and any Retained Distributions are subject to the restrictions on transfer in the Plan and may not be sold, assigned or transferred in any manner unless and until they become Vested Shares. Any attempted transfer or disposition of Unvested Shares or related Retained Distributions prior to the time the 

A-2

 

Unvested Shares become Vested Shares will be null and void. The Company will not be required to (a) transfer on its books any Restricted Share that has been sold or otherwise transferred in violation of this Agreement or (b) treat as owner of such Restricted Share or accord the right to vote or pay dividends to any purchaser or other transferee to whom such Restricted Share has been so transferred. The Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, or make appropriate notations to the same effect in its records. 

ARTICLE V. 

OTHER PROVISIONS 

5.1 Adjustments. Participant acknowledges that the Restricted Shares are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. 

5.2 Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually received, when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation. 

5.3 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

5.4 Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws. 

5.5 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in this Agreement or the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

 

5.6 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement and the Restricted Shares will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

5.7 Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

5.8 Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

5.9 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any 

A-3

 

assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Award. 

5.10 Not a Contract of Employment. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

5.11 Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 

* * * * *

 

A-4

 

HOMOLOGY MEDICINES, INC. 

2018 INCENTIVE AWARD PLAN 

RESTRICTED STOCK UNIT GRANT NOTICE 

Capitalized terms not specifically defined in this Restricted Stock Unit Grant Notice (the “Grant Notice”) have the meanings given to them in the 2018 Incentive Award Plan (as amended from time to time, the “Plan”) of Homology Medicines, Inc. (the “Company”). 

The Company has granted to the participant listed below (“Participant”) the Restricted Stock Units described in this Grant Notice (the “RSUs”), subject to the terms and conditions of the Plan and the Restricted Stock Unit Agreement attached as Exhibit A (the “Agreement”), both of which are incorporated into this Grant Notice by reference. 

 

	
Participant:
	
 
	
 

	
 
	
 

	
Grant Date:
	
 
	
 

	
 
	
 

	
Number of RSUs:
	
 
	
 

	
 
	
 

	
Vesting Commencement Date:
	
 
	
 

	
 
	
 

	
Vesting Schedule:
	
 
	
[To be specified in individual award agreements]

 

By Participant’s signature below, Participant agrees to be bound by the terms of this Grant Notice, the Plan and the Agreement. Participant has reviewed the Plan, this Grant Notice and the Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of the Plan, this Grant Notice and the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. 

 

	
HOMOLOGY MEDICINES, INC.
	
 
	
PARTICIPANT

	
 
	
 
	
 
	
 

	
By:
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
Name:
	
 
	
 
	
 
	
[Participant Name]

	
 
	
 
	
 
	
 

	
Title:
	
 
	
 
	
 
	
 

 

 

A-5

 

 

Exhibit A 

RESTRICTED STOCK UNIT AGREEMENT 

Capitalized terms not specifically defined in this Agreement have the meanings specified in the Grant Notice or, if not defined in the Grant Notice, in the Plan. 

ARTICLE I. 

GENERAL 

1.1 Award of RSUs and Dividend Equivalents. 

(a) The Company has granted the RSUs to Participant effective as of the grant date set forth in the Grant Notice (the “Grant Date”). Each RSU represents the right to receive one Share or, at the option of the Company, an amount of cash, in either case, as set forth in this Agreement. Participant will have no right to the distribution of any Shares or payment of any cash until the time (if ever) the RSUs have vested. 

(b) The Company hereby grants to Participant, with respect to each RSU, a Dividend Equivalent for ordinary cash dividends paid to substantially all holders of outstanding Shares with a record date after the Grant Date and prior to the date the applicable RSU is settled, forfeited or otherwise expires. Each Dividend Equivalent entitles Participant to receive the equivalent value of any such ordinary cash dividends paid on a single Share. The Company will establish a separate Dividend Equivalent bookkeeping account (a “Dividend Equivalent Account”) for each Dividend Equivalent and credit the Dividend Equivalent Account (without interest) on the applicable dividend payment date with the amount of any such cash paid. 

1.2 Incorporation of Terms of Plan. The RSUs are subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan will control. 

1.3 Unsecured Promise. The RSUs and Dividend Equivalents will at all times prior to settlement represent an unsecured Company obligation payable only from the Company’s general assets. 

ARTICLE II. 

VESTING; FORFEITURE AND SETTLEMENT 

2.1 Vesting; Forfeiture. The RSUs will vest according to the vesting schedule in the Grant Notice except that any fraction of an RSU that would otherwise be vested will be accumulated and will vest only when a whole RSU has accumulated. In the event of Participant’s Termination of Service for any reason, all unvested RSUs will immediately and automatically be cancelled and forfeited, except as otherwise determined by the Administrator or provided in a binding written agreement between Participant and the Company. Dividend Equivalents (including any Dividend Equivalent Account balance) will vest or be forfeited, as applicable, upon the vesting or forfeiture of the RSU with respect to which the Dividend Equivalent (including the Dividend Equivalent Account) relates. 

2.2 Settlement. 

(a) RSUs and Dividend Equivalents (including any Dividend Equivalent Account balance) will be paid in Shares or cash at the Company’s option as soon as administratively practicable after the vesting of the applicable RSU, but in no event more than sixty (60) days after the RSU’s vesting date. Notwithstanding the foregoing, the Company may delay any payment under this Agreement that the Company reasonably determines would violate Applicable Law until the earliest date the Company reasonably determines the making of the payment will not cause such a violation (in accordance with Treasury Regulation Section 1.409A-2(b)(7)(ii)), provided the Company reasonably believes the delay will not result in the imposition of excise taxes under Section 409A. 

(b) If an RSU is paid in cash, the amount of cash paid with respect to the RSU will equal the Fair Market Value of a Share on the day immediately preceding the payment date. If a Dividend Equivalent is paid in Shares, the number of 

A-1

 

Shares paid with respect to the Dividend Equivalent will equal the quotient, rounded down to the nearest whole Share, of the Dividend Equivalent Account balance divided by the Fair Market Value of a Share on the day immediately preceding the payment date. 

ARTICLE III. 

TAXATION AND TAX WITHHOLDING 

3.1 Representation. Participant represents to the Company that Participant has reviewed with Participant’s own tax advisors the tax consequences of this Award and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. 

3.2 Tax Withholding. 

(a) The Company has the right and option, but not the obligation, to treat Participant’s failure to provide timely payment in accordance with the Plan of any withholding tax arising in connection with the RSUs or Dividend Equivalents as Participant’s election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the Award. 

(b) Participant acknowledges that Participant is ultimately liable and responsible for all taxes owed in connection with the RSUs and the Dividend Equivalents, regardless of any action the Company or any Subsidiary [or Agent (as defined below)] takes with respect to any tax withholding obligations that arise in connection with the RSUs or Dividend Equivalents. Neither the Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or payment of the RSUs or the Dividend Equivalents or the subsequent sale of Shares. The Company and the Subsidiaries do not commit and are under no obligation to structure the RSUs or Dividend Equivalents to reduce or eliminate Participant’s tax liability. 

 

[(c) Mandatory Sell to Cover. 

	
(i)
	
By accepting this Award, Participant understands and agrees that as a condition of the grant of the RSUs hereunder, Participant is required to, and hereby affirmatively elects to (the “Sell to Cover Election”), (1) sell that number of Shares determined in accordance with this Section 3.2(c) as may be necessary to satisfy the minimum statutory withholding obligations with respect to any taxable event arising in connection with the RSUs, and (2) to allow the transfer agent (together with any other party the Company determines necessary to execute the Sell to Cover Election, the “Agent”) to remit the cash proceeds of such sale(s) to the Company.

	
(ii)
	
Participant hereby appoints the Agent as Participant’s agent and authorizes the Agent to (1) sell on the open market at the then prevailing market price(s), on the Participant’s behalf, as soon as practicable on or after the date Shares are issued upon the vesting of the RSUs, that number (rounded up to the next whole number) of the Shares so issued necessary to generate proceeds to cover (x) any tax withholding obligations incurred with respect to such vesting or issuance, based on minimum statutory withholding rates, and (y) all applicable fees and commissions due to, or required to be collected by, the Agent with respect thereto and (2) remit any remaining funds to Participant. Participant hereby authorizes the Company and the Agent to cooperate and communicate with one another to determine the number of Shares that must be sold pursuant to this Section 3.2(c)(ii). Participant understands that the Agent may effect sales as provided in this Section 3.2(c)(ii) in one or more sales and that the average price for executions resulting from bunched orders will be assigned to Participant’s account. In addition, Participant acknowledges that it may not be possible to sell Shares as provided by this Section 3.2(c)(ii), including due to (1) a legal or contractual restriction applicable to Participant or the Agent, (2) a market disruption, or (3) rules governing order execution priority on the national exchange where the Shares may be traded. Participant further agrees and acknowledges that in the event the sale of Shares would result in material adverse harm to the Company, as determined by the Company in its sole discretion, the Company may instruct the Agent not to sell Shares as provided by this Section 3.2(c)(ii). Participant acknowledges that regardless of any other term or condition of this Section 3.2(c), the Agent will not be liable to Participant for (1) special, indirect, punitive, exemplary, or consequential damages, or incidental losses or damages of 

A-2

 

		
any kind, or (2) any failure to perform or for any delay in performance that results from a cause or circumstance that is beyond its reasonable control. Participant hereby agrees to execute and deliver to the Agent any other agreements or documents as the Agent reasonably deems necessary or appropriate to carry out the purposes and intent of this Section 3.2(c). The Agent is a third-party beneficiary of this Section 3.2(c). This Section 3.2(c) shall terminate not later than the date on which all tax withholding obligations arising in connection with the Award have been satisfied. 

	
(iii)
	
Participant has carefully reviewed this Section 3.2(c) and Participant hereby represents and warrants that on the date hereof he or she is not aware of any material, nonpublic information with respect to the Company or any securities of the Company, is not subject to any legal, regulatory or contractual restriction that would prevent the Agent from conducting sales, does not have, and will not attempt to exercise, authority, influence or control over any sales of Shares effected by the Agent pursuant to the Agreement, and is entering into the Agreement and this election to “sell to cover” in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b5-1 (regarding trading of the Company’s securities on the basis of material nonpublic information) under the Exchange Act. It is Participant’s intent that this election to “sell to cover” comply with the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act and be interpreted to comply with the requirements of Rule 10b5-1(c) under the Exchange Act. This Section 3.2(c) shall not be deemed a “10b5-1 plan” as used in and for the purposes of the Company’s 10b5-1 Plan Guidelines, as may be amended from time to time (the “10b5-1 Guidelines”), and, for the avoidance of doubt, Participant’s execution of this Agreement shall not impact Participant’s ability to enter into a 10b5-1 plan under the 10b5-1 Guidelines.]

ARTICLE IV. 

OTHER PROVISIONS 

4.1 Adjustments. Participant acknowledges that the RSUs, the Shares subject to the RSUs and the Dividend Equivalents are subject to adjustment, modification and termination in certain events as provided in this Agreement and the Plan. 

4.2 Notices. Any notice to be given under the terms of this Agreement to the Company must be in writing and addressed to the Company in care of the Company’s Secretary at the Company’s principal office or the Secretary’s then-current email address or facsimile number. Any notice to be given under the terms of this Agreement to Participant must be in writing and addressed to Participant at Participant’s last known mailing address, email address or facsimile number in the Company’s personnel files. By a notice given pursuant to this Section, either party may designate a different address for notices to be given to that party. Any notice will be deemed duly given when actually received, when sent by email, when sent by certified mail (return receipt requested) and deposited with postage prepaid in a post office or branch post office regularly maintained by the United States Postal Service, when delivered by a nationally recognized express shipping company or upon receipt of a facsimile transmission confirmation. 

4.3 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

4.4 Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws and, to the extent Applicable Laws permit, will be deemed amended as necessary to conform to Applicable Laws. 

4.5 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in the Plan, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto. 

4.6 Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the Plan, the Grant Notice, this Agreement, the RSUs and the Dividend Equivalents will be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3) that are 

A-3

 

requirements for the application of such exemptive rule. To the extent Applicable Laws permit, this Agreement will be deemed amended as necessary to conform to such applicable exemptive rule. 

4.7 Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

4.8 Agreement Severable. In the event that any provision of the Grant Notice or this Agreement is held illegal or invalid, the provision will be severable from, and the illegality or invalidity of the provision will not be construed to have any effect on, the remaining provisions of the Grant Notice or this Agreement. 

4.9 Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs and Dividend Equivalents, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the RSUs and Dividend Equivalents, as and when settled pursuant to the terms of this Agreement. 

4.10 Not a Contract of Employment. Nothing in the Plan, the Grant Notice or this Agreement confers upon Participant any right to continue in the employ or service of the Company or any Subsidiary or interferes with or restricts in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the services of Participant at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and Participant. 

4.11 Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which will be deemed an original and all of which together will constitute one instrument. 

* * * * *

A-4exhibit41

            LOUISIANA-PACIFIC CORPORATION  3.625% SENIOR NOTES DUE 2029    INDENTURE  Dated as of March 11, 2021    THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.  Trustee      

 

      CROSS-REFERENCE TABLE*  Trust Indenture  Act Section Indenture Section  310(a)(1) .......................................................................................... 7.10   (a)(2) .......................................................................................... 7.10   (a)(3) .......................................................................................... N.A.   (a)(4) .......................................................................................... N.A.   (a)(5) .......................................................................................... 7.10   (b)............................................................................................... 7.10   (c) ............................................................................................... N.A.  311(a) ............................................................................................... 7.11   (b)............................................................................................... 7.11  312(a) ............................................................................................... 2.05   (b)............................................................................................... 12.03   (c) ............................................................................................... 12.03  313(a) ............................................................................................... 7.06   (b)(2) .......................................................................................... 7.06; 7.07   (c) ............................................................................................... 7.06; 12.02   (d)............................................................................................... 7.06  314(a) ............................................................................................... 4.03;12.02; 12.05   (c)(1) .......................................................................................... 12.04   (c)(2) .......................................................................................... 12.04   (c)(3) .......................................................................................... N.A.   (e) ............................................................................................... 12.05   (f) ............................................................................................... N.A.  315(a) ............................................................................................... 7.01   (b)............................................................................................... 7.05; 12.02   (c) ............................................................................................... 7.01   (d)............................................................................................... 7.01   (e) ............................................................................................... 6.11  316(a) (last sentence) ........................................................................ 2.09   (a)(1)(A) ..................................................................................... 6.05   (a)(1)(B) ..................................................................................... 6.04   (a)(2) .......................................................................................... N.A.   (b)............................................................................................... 6.07   (c) ............................................................................................... 2.12  317(a)(1) .......................................................................................... 6.08   (a)(2) .......................................................................................... 6.09   (b)............................................................................................... 2.04  318(a) ............................................................................................... 12.01   (b)............................................................................................... N.A.   (c) ............................................................................................... 12.01    N.A. means not applicable.  *  This Cross Reference Table is not part of the Indenture.  

 

      TABLE OF CONTENTS  Page  ARTICLE 1  DEFINITIONS AND INCORPORATION  BY REFERENCE  Section 1.01 Definitions. ............................................................................................................... 1  Section 1.02 Other Definitions. ................................................................................................... 19  Section 1.03 Incorporation by Reference of Trust Indenture Act. ................................................. 19  Section 1.04 Rules of Construction. ............................................................................................ 19  ARTICLE 2  THE NOTES  Section 2.01 Form and Dating. .................................................................................................... 20  Section 2.02 Execution and Authentication. ................................................................................ 21  Section 2.03 Registrar and Paying Agent. .................................................................................... 21  Section 2.04 Paying Agent to Hold Money in Trust. .................................................................... 21  Section 2.05 Holder Lists. ........................................................................................................... 22  Section 2.06 Transfer and Exchange. ........................................................................................... 22  Section 2.07 Replacement Notes. ................................................................................................ 32  Section 2.08 Outstanding Notes. ................................................................................................. 33  Section 2.09 Treasury Notes........................................................................................................ 33  Section 2.10 Temporary Notes. ................................................................................................... 33  Section 2.11 Cancellation. ........................................................................................................... 34  Section 2.12 Defaulted Interest.................................................................................................... 34  Section 2.13 CUSIP or ISIN Numbers. ........................................................................................ 34  ARTICLE 3  REDEMPTION  Section 3.01 Notices to Trustee. .................................................................................................. 34  Section 3.02 Selection of Notes to Be Redeemed. ........................................................................ 35  Section 3.03 Notice of Redemption. ............................................................................................ 35  Section 3.04 Effect of Notice of Redemption. .............................................................................. 36  Section 3.05 Deposit of Redemption Price................................................................................... 36  Section 3.06 Notes Redeemed in Part. ......................................................................................... 37  Section 3.07 Optional Redemption. ............................................................................................. 37  Section 3.08 Mandatory Redemption. .......................................................................................... 38  ARTICLE 4  COVENANTS  Section 4.01 Payment of Notes. ................................................................................................... 38  Section 4.02 Maintenance of Office or Agency. .......................................................................... 38  Section 4.03 Reports. .................................................................................................................. 39  Section 4.04 Compliance Certificate. .......................................................................................... 39  Section 4.05 Taxes. ..................................................................................................................... 39  Section 4.06 Stay, Extension and Usury Laws. ............................................................................ 40  Section 4.07 Limitation on Liens. ................................................................................................ 40  Section 4.08 Corporate Existence. ............................................................................................... 41  Section 4.09 Change of Control................................................................................................... 41  Section 4.10 Issuance of Subsidiary Guarantees. ......................................................................... 42  

 

Page  ii    Section 4.11 Limitation on Sale and Leaseback Transactions....................................................... 44  ARTICLE 5  SUCCESSORS  Section 5.01 Merger, Consolidation and Sale of Assets. .............................................................. 45  ARTICLE 6  DEFAULTS AND REMEDIES  Section 6.01 Events of Default. ................................................................................................... 46  Section 6.02 Acceleration. .......................................................................................................... 47  Section 6.03 Other Remedies. ..................................................................................................... 48  Section 6.04 Waiver of Past Defaults. ......................................................................................... 48  Section 6.05 Control by Majority. ............................................................................................... 48  Section 6.06 Limitation on Suits.................................................................................................. 49  Section 6.07 Rights of Holders of Notes to Receive Payment. ..................................................... 49  Section 6.08 Collection Suit by Trustee. ...................................................................................... 49  Section 6.09 Trustee May File Proofs of Claim. .......................................................................... 49  Section 6.10 Priorities. ................................................................................................................ 50  Section 6.11 Undertaking for Costs. ............................................................................................ 50  ARTICLE 7  TRUSTEE  Section 7.01 Duties of Trustee. ................................................................................................... 50  Section 7.02 Rights of Trustee. ................................................................................................... 51  Section 7.03 Individual Rights of Trustee. ................................................................................... 52  Section 7.04 Trustee’s Disclaimer. .............................................................................................. 52  Section 7.05 Notice of Defaults. .................................................................................................. 53  Section 7.06 Reports by Trustee to Holders of the Notes. ............................................................ 53  Section 7.07 Compensation and Indemnity. ................................................................................. 53  Section 7.08 Replacement of Trustee........................................................................................... 54  Section 7.09 Successor Trustee by Merger, etc. ........................................................................... 55  Section 7.10 Eligibility; Disqualification. .................................................................................... 55  Section 7.11 Preferential Collection of Claims Against Company. ............................................... 55  Section 7.12 Limitation of Liability. ............................................................................................ 55  ARTICLE 8  LEGAL DEFEASANCE AND COVENANT DEFEASANCE  Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. ................................... 56  Section 8.02 Legal Defeasance and Discharge. ............................................................................ 56  Section 8.03 Covenant Defeasance. ............................................................................................. 57  Section 8.04 Conditions to Legal or Covenant Defeasance. ......................................................... 57  Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other  Miscellaneous Provisions. ...................................................................................... 58  Section 8.06 Repayment to Company. ......................................................................................... 59  Section 8.07 Reinstatement. ........................................................................................................ 59  ARTICLE 9  AMENDMENT, SUPPLEMENT AND WAIVER  Section 9.01 Without Consent of Holders of Notes. ..................................................................... 60  Section 9.02 With Consent of Holders of Notes. .......................................................................... 61  Section 9.03 Revocation and Effect of Consents. ......................................................................... 62  

 

Page  iii    Section 9.04 Notation on or Exchange of Notes. .......................................................................... 62  Section 9.05 Trustee to Sign Amendments, etc. ........................................................................... 62  ARTICLE 10  SUBSIDIARY GUARANTEES  Section 10.01 Guarantee. .............................................................................................................. 63  Section 10.02 Limitation on Guarantor Liability............................................................................ 64  Section 10.03 Execution and Delivery of Subsidiary Guarantee. .................................................... 64  ARTICLE 11  SATISFACTION AND DISCHARGE  Section 11.01 Satisfaction and Discharge. ..................................................................................... 64  Section 11.02 Application of Trust Money; Other Miscellaneous Provisions. ................................ 65  ARTICLE 12  MISCELLANEOUS  Section 12.01 [Reserved]. ............................................................................................................. 66  Section 12.02 Notices. .................................................................................................................. 66  Section 12.03 Communication by Holders of Notes with Other Holders of Notes. ......................... 68  Section 12.04 Certificate and Opinion as to Conditions Precedent. ................................................ 68  Section 12.05 Statements Required in Certificate or Opinion. ........................................................ 68  Section 12.06 Rules by Trustee and Agents. .................................................................................. 69  Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders. ............. 69  Section 12.08 Governing Law. ...................................................................................................... 69  Section 12.09 No Adverse Interpretation of Other Agreements. ..................................................... 69  Section 12.10 Successors. ............................................................................................................. 69  Section 12.11 Severability............................................................................................................. 69  Section 12.12 Counterpart Originals. ............................................................................................. 70  Section 12.13 Table of Contents, Headings, etc. ............................................................................ 70  Section 12.14 Acts of Holders. ...................................................................................................... 70    EXHIBITS  Exhibit A FORM OF NOTE  Exhibit B FORM OF CERTIFICATE OF TRANSFER  Exhibit C FORM OF CERTIFICATE OF EXCHANGE  Exhibit D FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED  INVESTOR  Exhibit E FORM OF NOTATION OF GUARANTEE  Exhibit F FORM OF SUPPLEMENTAL INDENTURE    

 

  1      INDENTURE dated as of March 11, 2021 between Louisiana-Pacific Corporation, a Delaware  corporation, and The Bank of New York Mellon Trust Company, N.A., as trustee.  The Company and the Trustee agree as follows for the benefit of each other and for the equal and  ratable benefit of the Holders (as defined) of the 3.625% Senior Notes due 2029 of the Company (the  “Notes”) issued under this Indenture:  ARTICLE 1  DEFINITIONS AND INCORPORATION  BY REFERENCE  Section 1.01 Definitions.  “144A Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the  Global Note Legend and the Private Placement Legend and deposited with or on behalf of, and registered  in the name of, the Depositary or its nominee issued in a denomination equal to the outstanding principal  amount of the Notes sold in reliance on Rule 144A.  “Accounts Receivable Entity” means a Person, including, without limitation, a Subsidiary of the  Company, whose operations consist solely of owning and/or selling accounts receivable of the Company  and its Subsidiaries and engaging in other activities in connection with transactions that are Permitted  Receivables Financings, including providing letters of credit for the Company or any of its Subsidiaries.  “Acquired Indebtedness” means Indebtedness of a Person or any of its Subsidiaries existing at the  time such Person becomes a Subsidiary or at the time it merges or consolidates with the Company or any  of its Subsidiaries or is assumed by the Company or any Subsidiary in connection with the acquisition of  assets from such Person and in each case not incurred by such Person in connection with, or in anticipation  or contemplation of, such Person becoming a Subsidiary or such acquisition, merger or consolidation.  “Additional Notes” means an unlimited aggregate principal amount of additional Notes (other than  the Initial Notes) issued under this Indenture as part of the same series as the Initial Notes.  “Affiliate” of a Person means a Person who directly or indirectly through one or more  intermediaries controls, or is controlled by, or is under common control with, such Person; provided,  however, that with respect to the Company, the term Affiliate shall not include the Company or any  Subsidiary of the Company so long as no Affiliate of the Company has any direct or indirect interest therein,  except through the Company or its Subsidiaries.  The term “control” means the possession, directly or  indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether  through the ownership of voting securities, by contract or otherwise.  “Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent.  “Applicable Premium” means, at any redemption date, the greater of:  (1) 1.0% of the principal amount of such Note; and  (2) the excess of:  (a) the present value at such redemption date of (i) the redemption price of such Note  on March 15, 2024 (such redemption price being set forth in the table appearing in  Section 3.07) plus (ii) all remaining required scheduled interest payments due on  

 

  2      such Note through March 15, 2024, computed using a discount rate equal to the  Treasury Rate plus 50 basis points; over  (b) the principal amount of such Note on such redemption date;   and, as calculated by the Company or on behalf of the Company by such Person as the Company shall  designate as a calculation agent for such purpose; provided that such calculation shall not be a duty or  obligation of the Trustee.  “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial  interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that  apply to such transfer or exchange.  “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of  debtors, as now in effect or hereafter amended.  “Board of Directors” means, with respect to any Person, (i) in the case of any corporation, the  board of directors of such Person, (ii) in the case of any member-managed limited liability company, the  managing member of such Person or, if there is no managing member, the members of such Person and  (iii) in any other case, the functional equivalent of the foregoing or, in each case, any duly authorized  committee of such body.  “Business Day” means any day other than a Legal Holiday.  “Capital Stock” means (1) with respect to any Person that is a corporation, any and all shares,  interests, participations or other equivalents (however designated and whether or not voting) of corporate  stock, including each class of Common Stock and Preferred Stock of such Person, and (2) with respect to  any Person that is not a corporation, any and all partnership or other equity interests of such Person.  “Capitalized Lease Obligations” means, as to any Person, the obligations of such Person under a  lease that are required to be classified and accounted for as capital lease obligations under GAAP and, for  purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of  such obligations at such date, determined in accordance with GAAP.  “Cash Management Obligations” means, with respect to any Person, all obligations of such Person  in respect of overdrafts and related liabilities owed to any other Person that arise from treasury, depositary  or cash management services, including in connection with any automated clearing house transfers of funds,  or any similar transactions.  “Change of Control” means the occurrence of one or more of the following events:  (1) any sale, lease, exchange or other transfer (in one transaction or a series of related  transactions) of all or substantially all of the assets of the Company to any Person or group  as defined in Section 13(d) of the Exchange Act (a “Group”) (whether or not otherwise in  compliance with the provisions of this Indenture);  (2) the approval by the holders of Capital Stock of the Company of any plan or proposal for  the liquidation or dissolution of the Company (whether or not otherwise in compliance with  the provisions of this Indenture); or  

 

  3      (3) any Person or Group shall become the beneficial owner, directly or indirectly, of shares  representing more than 50.0% of the aggregate ordinary voting power represented by the  issued and outstanding Capital Stock of the Company.  “Clearstream” means Clearstream Banking, S.A.  “Commission” means the Securities and Exchange Commission, as from time to time constituted,  or if at any time after the execution of the Indenture such Commission is not existing and performing the  applicable duties now assigned to it, then the body or bodies performing such duties at such time.  “Commodity Agreement” means any commodity futures contract, commodity option or other  similar agreement or arrangement entered into by the Company or any Subsidiary of the Company designed  to protect the Company or any of its Subsidiaries against fluctuations in the price of the commodities at the  time used in the ordinary course of business of the Company or any of its Subsidiaries and not for  speculative purposes.  “Common Stock” of any Person means any and all shares, interests or other participations in, and  other equivalents (however designated and whether voting or non-voting) of, such Person’s common stock,  whether outstanding on the Issue Date or issued after the Issue Date, and includes, without limitation, all  series and classes of such common stock.  “Company” means Louisiana-Pacific Corporation, until a successor replaces it in accordance with  the provisions of this Indenture and, thereafter, means such successor.  “Consolidated EBITDA” means, with respect to the Company, for any period, the sum (without  duplication) of:   (1) Consolidated Net Income; and  (2) to the extent Consolidated Net Income has been reduced thereby:  (a) all income taxes of the Company and its Subsidiaries expensed or accrued in accordance  with GAAP for such period;  (b) Consolidated Interest Expense;   (c) Consolidated Non-cash Charges; and  (d) with respect to periods prior to the Issue Date, the other positive adjustments included in  “Adjusted EBITDA” set forth in the Offering Memorandum,  less (a) any non-cash items increasing Consolidated Net Income for such period, all as determined on a  consolidated basis for the Company and its Subsidiaries in accordance with GAAP, other than (i) the accrual  of revenue consistent with past practice and (ii) reversals of prior accruals or reserves for cash items  previously excluded in the calculation of Consolidated Non-cash Charges and (b) with respect to periods  prior to the Issue Date, the other negative adjustments included in “Adjusted EBITDA” set forth in the  Offering Memorandum.  “Consolidated Interest Expense” means, with respect to the Company for any period, the sum of,  without duplication:  

 

  4      (1) the aggregate of the interest expense of the Company and its Subsidiaries for such period  determined on a consolidated basis in accordance with GAAP, including, without  limitation:  (a) any amortization of debt discount;  (b) the net costs under Interest Swap Obligations;  (c) all capitalized interest; and  (d) the interest portion of any deferred payment obligation;  (2) the interest component of Capitalized Lease Obligations accrued by the Company and its  Subsidiaries during such period as determined on a consolidated basis in accordance with  GAAP; and  (3) to the extent not included in clause (1) above, net losses relating to sales of accounts  receivable pursuant to Permitted Receivables Financings during such period as determined  on a consolidated basis in accordance with GAAP.  “Consolidated Net Income” means, with respect to the Company, for any period, the aggregate net  income (or loss) of the Company and its Subsidiaries for such period as determined on a consolidated basis  in accordance with GAAP; provided that there shall be excluded therefrom:  (1) after-tax gains and losses from sales of assets or abandonments or reserves relating thereto;   (2) extraordinary or non-recurring gains or losses (determined on an after-tax basis);  (3) any non-cash compensation expense incurred for grants and issuances of stock appreciation  or similar rights, stock options, restricted shares or other rights to officers, directors and  other employees of the Company or any of its Subsidiaries (including any such grant or  issuance to a 401(k) plan or other retirement benefit plan);  (4) the net income (loss) of any Person, other than a Subsidiary, except in the case of net  income to the extent of cash dividends or distributions paid to the Company or to a  Subsidiary by such Person;  (5) income or loss attributable to discontinued operations (including, without limitation,  operations disposed of during such period whether or not such operations were classified  as discontinued) from and after the date that such operation is classified as discontinued;  (6) in the case of a successor to the Company by consolidation or merger or as a transferee of  the Company’s assets, any earnings of the successor corporation prior to such  consolidation, merger or transfer of assets;  (7) write-downs resulting from the impairment of goodwill or other intangible assets;  (8) the amount of amortization or write-off of deferred financing costs and debt issuance costs  of the Company and its Subsidiaries during such period and any premium or penalty paid  in connection with redeeming or retiring Indebtedness of the Company and its Subsidiaries  

 

  5      prior to the stated maturity thereof pursuant to the agreements governing such  Indebtedness;  (9) any gain or loss realized as a result of the cumulative effect of a change in accounting  principles;  (10) any fees and expenses paid in connection with the issuance of notes or other Indebtedness;  and   (11) any net after-tax gains or losses attributable to the early extinguishment of Indebtedness;   provided, further, that there shall be included therefrom, without duplication, dividends from Persons that  are not Subsidiaries actually received in cash by the Company or any of its Subsidiaries.    “Consolidated Net Tangible Assets” means, as of any date of determination, the total assets, less  goodwill and other intangibles (other than patents, trademarks, copyrights, licenses and other intellectual  property), shown on the balance sheet of the Company and its Subsidiaries for the most recently ended  fiscal quarter for which financial statements are available, determined on a consolidated basis in accordance  with GAAP.  “Consolidated Non-cash Charges” means, with respect to the Company, for any period, the  aggregate depreciation, amortization and other non-cash expenses of the Company and its Subsidiaries  reducing Consolidated Net Income of the Company for such period, determined on a consolidated basis in  accordance with GAAP (excluding any such charge which requires an accrual of or a reserve for cash  payments for any future period).  “Consolidated Secured Debt Ratio” means, as of any date of determination, the ratio of:  (1) the Consolidated Total Indebtedness of the Company and its Subsidiaries that is secured  by Liens as of the end of the Four Quarter Period ending on or prior to the transaction  giving rise to the need to calculate the Consolidated Secured Debt Ratio (the “Transaction  Date”); to  (2) the aggregate amount of Consolidated EBITDA of the Company during the Four Quarter  Period ending on or prior to the Transaction Date.  In addition to and without limitation of the foregoing, for purposes of this definition, “Consolidated  EBITDA” and “Consolidated Total Indebtedness” shall be calculated after giving effect on a pro forma  basis for the period of such calculation to:  (1) the incurrence or repayment of any Indebtedness of the Company or any of its Subsidiaries  (and the application of the proceeds thereof) giving rise to the need to make such  calculation and any incurrence or repayment of other Indebtedness (and the application of  the proceeds thereof), other than the incurrence or repayment of Indebtedness in the  ordinary course of business for working capital purposes, occurring during the Four  Quarter Period or at any time subsequent to the last day of the Four Quarter Period and on  or prior to the Transaction Date, as if such incurrence or repayment, as the case may be  (and the application of the proceeds thereof), occurred on the first day of the Four Quarter  Period; and  

 

  6      (2) sales of assets or other dispositions or acquisitions of assets occurring during the Four  Quarter Period or at any time subsequent to the last day of the Four Quarter Period and on  or prior to the Transaction Date as if such sales of assets or dispositions or acquisitions of  assets occurred on the first day of the Four Quarter Period.  If the Company or any of its Subsidiaries directly or indirectly guarantees Indebtedness of a third  Person, the preceding sentence shall give effect to the incurrence of such guaranteed Indebtedness as if the  Company or any Subsidiary had directly incurred or otherwise assumed such guaranteed Indebtedness.  Notwithstanding the foregoing, when calculating the Consolidated Secured Debt Ratio for purposes  of Section 4.07, at the option of the Company, a binding commitment to lend under a revolving credit  facility shall be deemed to be an incurrence of Indebtedness in the full amount of such commitment on the  date that such commitment is entered into, regardless of whether the full amount of such revolving credit  facility is actually borrowed, and thereafter the amount of such commitment shall be deemed fully borrowed  at all times.  Notwithstanding anything in this definition to the contrary, when calculating the Consolidated  Secured Debt Ratio, in connection with any acquisition, including by means of a merger or consolidation,  by the Company and/or one or more of its Subsidiaries, the consummation of which is not conditioned upon  the availability of, or on obtaining, third-party financing (a “Limited Condition Acquisition”), the date of  determination of such ratio shall, at the option of the Company, be the date the definitive agreements for  such Limited Condition Acquisition are entered into and such ratio shall be calculated on a pro forma basis  after giving effect to such Limited Condition Acquisition and the other transactions to be entered into in  connection therewith (including any incurrence of Indebtedness and the use of proceeds thereof) as if such  Limited Condition Acquisition and the other transactions to be entered into in connection therewith  occurred at the beginning of the four-quarter reference period, and, for the avoidance of doubt, (x) if any  such ratio is exceeded as a result of fluctuations in such ratio (including due to fluctuations in Consolidated  EBITDA of the Company or the target company) at or prior to the consummation of the relevant Limited  Condition Acquisition, such ratio will not be deemed to have been exceeded as a result of such fluctuations  solely for purposes of determining whether the Limited Condition Acquisition is permitted hereunder and  (y) such ratio shall not be tested at the time of consummation of such Limited Condition Acquisition or  related transactions; provided, further, that if the Company elects to have such determinations occur at the  time of entry into such definitive agreements, any such transaction shall be deemed to have occurred on the  date the definitive agreements are entered and outstanding thereafter for purposes of subsequently  calculating any ratios under the Indenture after the date of such agreement and before the consummation or  termination of such Limited Condition Acquisition and to the extent baskets were utilized in satisfying any  covenants, such baskets shall be deemed utilized, but any calculation of Consolidated Net Tangible Assets  or Consolidated Net Income for purposes of other incurrences of Liens (not related to such Limited  Condition Acquisition) shall not reflect such Limited Condition Acquisition until it is consummated.  “Consolidated Total Indebtedness” means, as at any date of determination, an amount equal to the  sum of (1) the aggregate amount of all outstanding Indebtedness of the Company and its Subsidiaries on a  consolidated basis consisting of Indebtedness for borrowed money, Obligations in respect of Capitalized  Lease Obligations and debt obligations evidenced by bonds, notes, debentures or similar instruments or  letters of credit or bankers’ acceptances (and excluding (x) any undrawn letters of credit and (y) all  obligations relating to Permitted Receivables Financings) and (2) the aggregate amount of all outstanding  Disqualified Capital Stock of the Company and all Disqualified Capital Stock and Preferred Stock of the  Subsidiaries (excluding items eliminated in consolidation), with the amount of such Disqualified Capital  Stock and Preferred Stock equal to the greater of their respective voluntary or involuntary liquidation  preferences and Maximum Fixed Repurchase Prices, in each case determined on a consolidated basis in  accordance with GAAP.  

 

  7      For purposes hereof, the “Maximum Fixed Repurchase Price” of any Disqualified Capital Stock or  Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms  of such Disqualified Capital Stock or Preferred Stock as if such Disqualified Capital Stock or Preferred  Stock were purchased on the applicable date on which Consolidated Total Indebtedness shall be required  to be determined pursuant to the Indenture, and if such price is based upon, or measured by, the Fair Market  Value of such Disqualified Capital Stock or Preferred Stock.  “continuing” means, with respect to any Default or Event of Default, that such Default or Event of  Default has not been cured or waived.     “Corporate Trust Office of the Trustee” means the address of the Trustee specified in Section 12.02  hereof or such other address as to which the Trustee may give notice to the Company.  “Credit Agreement” means the Amended and Restated Credit Agreement, dated as of June 27,  2019, as amended on May 1, 2020, May 27, 2020 and February 16, 2021, among the Company, as borrower,  the guarantors named therein, the lenders party thereto, American AgCredit, PCA, as administrative agent  and sole lead arranger, as letter of credit issuer, together with the documents related thereto (including,  without limitation, any guarantee agreements and security documents), in each case as such agreements  may be amended (including any amendment and restatement thereof), supplemented or otherwise modified  from time to time in accordance with their terms, including any agreement extending the maturity of,  refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings  thereunder or adding Subsidiaries of the Company as additional borrowers or guarantors thereunder), and  all or any portion of the Indebtedness under such agreement or any successor or replacement agreement  and whether by the same or any other agent, lender or group of lenders.  “Credit Facilities” means one or more debt facilities (including the Credit Agreement and the Letter  of Credit Facility) or commercial paper facilities providing for revolving credit loans, term loans,  receivables financing (including through the sale of receivables to lenders or to special purpose entities  formed to borrow from lenders against such receivables) or letters of credit, or any debt securities, debt  instruments, indentures or other form of debt financing (including convertible or exchangeable debt  instruments), in each case, as amended, supplemented, modified, extended, renewed, restated or refunded  in whole or in part from time to time.  “Currency Agreement” means any foreign exchange contract, currency swap agreement or other  similar agreement or arrangement designed to protect the Company or any Subsidiary against fluctuations  in currency values.  “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any  successor entity thereto.  “Default” means an event or condition the occurrence of which is, or with the lapse of time or the  giving of notice or both would be, an Event of Default.  “Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued  in accordance with Section 2.06 hereof, substantially in the form of Exhibit A hereto except that such Note  shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the  Global Note” attached thereto.  “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form,  the Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all  

 

  8      successors thereto appointed as depositary hereunder and having become such pursuant to the applicable  provision of this Indenture.  “Domestic Subsidiary” means any Subsidiary that is not a Foreign Subsidiary.  “DTC” means The Depository Trust Company or any successor thereto.  “Electronic Means” means the following communications methods: e-mail, facsimile transmission,  secure electronic transmission containing applicable authorization codes, passwords and/or authentication  keys issued by the Trustee, or another method or system specified by the Trustee as available for use in  connection with its services hereunder.  “Equity Offering” means any public or private sale of the common stock of the Company, other  than any public offering with respect to the Company’s common stock registered on Form S-8 or other  issuances upon exercise of options by employees of the Company or any of its Subsidiaries.  “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.  “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute  or statutes thereto, and the rules and regulations of the Commission promulgated thereunder.  “Excluded Subsidiaries” means (1) each Finance Subsidiary, (2) each Accounts Receivables Entity,  (3) each Immaterial Domestic Subsidiary and (4) each other Subsidiary that is not a Wholly Owned  Subsidiary.  “Fair Market Value” means, with respect to any asset or liability, the fair market value of such  asset or liability as reasonably determined by the Company in good faith.  “Finance Subsidiary” means a Subsidiary that is organized solely for the purpose of owning  Indebtedness of the Company and/or other Subsidiaries and issuing securities the proceeds of which are  utilized by the Company and/or other Subsidiaries, and which engages only in such activities and activities  incident thereto, including providing letters of credit for the Company or any of its Subsidiaries.  “Foreign Subsidiary” means (1) any Subsidiary that is organized and existing under the laws of a  jurisdiction other than the United States, any State thereof or the District of Columbia, (2) any direct or  indirect Subsidiary of such Foreign Subsidiary described in clause (1), and (3) any Subsidiary incorporated  or otherwise organized under the laws of the United States or any State thereof or the District of Columbia  substantially all of the assets of which consist of equity interests in one or more such Foreign Subsidiaries.  “Funded Debt” means all Indebtedness for borrowed money having a maturity date of more than  12 months from the date as of which the amount thereof is to be determined or having a maturity of less  than 12 months from the date as of which the amount thereof is to be determined but by its terms being  renewable or extendible beyond 12 months from such date at the option of the borrower.  “GAAP” means generally accepted accounting principles set forth in the opinions and  pronouncements of the Accounting Principles Board of the American Institute of Certified Public  Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such  other statements by such other entity as may be approved by a significant segment of the accounting  profession of the United States, which are in effect from time to time.  

 

  9      If there occurs subsequent to the Issue Date a change in generally accepted accounting principles  and such change would cause a change in the method of calculation of any term or measure used in a  covenant under the indenture (an “Accounting Change”) then the Company may elect, as evidenced by a  written notice of the Company to the Trustee, that such term or measure shall be calculated as if such  Accounting Change had not occurred.  “Global Note Legend” means the legend set forth in Section 2.06(f)(ii) hereof, which is required  to be placed on all Global Notes issued under this Indenture.  “Global Notes” means, individually and collectively, each of the Restricted Global Notes and the  Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depositary or  its nominee, substantially in the form of Exhibit A hereto and that bears the Global Note Legend and that  has the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with  Section 2.01, 2.06(b)(iii), 2.06(b)(iv), or 2.06(d)(ii) and (iii) hereof.  “Government Securities” means securities that are direct obligations of the United States of  America for the timely payment of which its full faith and credit is pledged.  “Guarantor” means (1) each Subsidiary of the Company (other than any Excluded Subsidiary) as  of the Issue Date and (2) each other Domestic Subsidiary that in the future is required to or executes a  Subsidiary Guarantee pursuant to Section 4.10 or otherwise; provided that any Person constituting a  Guarantor as described above shall cease to constitute a Guarantor when its Subsidiary Guarantee is  released in accordance with the terms of the Indenture.  “Holder” means a Person in whose name a Note is registered in the Note register.  “IAI Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the  Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered  in the name of the Depositary or its nominee that will be issued in a denomination equal to the outstanding  principal amount of the Notes sold to Institutional Accredited Investors.    “Immaterial Domestic Subsidiary” means any Domestic Subsidiary the Consolidated Net Tangible  Assets of which are less than 10.0% of the Consolidated Net Tangible Assets of the Company and its  Subsidiaries (in each case as determined in accordance with GAAP) as of the end of the most recent fiscal  quarter prior to the date of determination for which financial information is available; provided that upon  any Domestic Subsidiary ceasing to comply with the foregoing requirements, the Company will be deemed  to have acquired a Domestic Subsidiary that is not an Immaterial Domestic Subsidiary and will comply  with the applicable provisions set forth in Section 4.10 hereof in connection therewith.  “Incur” or “incur” means to, directly or indirectly, create, incur, issue, assume, guarantee, acquire,  become liable, contingently or otherwise with respect to, or otherwise become responsible for payment of.  “Indebtedness” means, with respect to any Person, without duplication:  (1) all Obligations of such Person for borrowed money;  (2) all Obligations of such Person evidenced by bonds, debentures, notes or other similar  instruments;  (3) all Capitalized Lease Obligations of such Person;  

 

  10      (4) all Obligations of such Person issued or assumed as the deferred purchase price of property,  all conditional sale obligations and all Obligations under any title retention agreement (but  excluding trade accounts payable and other accrued liabilities arising in the ordinary course  of business that are not overdue by 90 days or more or are being contested in good faith by  appropriate proceedings promptly instituted and diligently conducted);  (5) all Obligations for the reimbursement of any obligor on any letter of credit, banker’s  acceptance or similar credit transaction;  (6) guarantees and other contingent obligations in respect of Indebtedness of any other Person  referred to in clauses (1) through (5) above and clauses (8) and (10) below;  (7) all Obligations of any other Person of the type referred to in clauses (1) through (6) above  which are secured by any Lien on any property or asset of such Person, the amount of such  Obligation being deemed to be the lesser of the Fair Market Value of such property or asset  or the amount of the Obligation so secured;  (8) all Obligations under Currency Agreements and Interest Swap Obligations of such Person;  (9) all Disqualified Capital Stock of the Company and all Preferred Stock of a Subsidiary with  the amount of Indebtedness represented by such Disqualified Capital Stock or Preferred  Stock being equal to the greater of its voluntary or involuntary liquidation preference and  its maximum fixed repurchase price, but excluding accrued and unpaid dividends, if any;  and  (10) all Outstanding Permitted Receivables Financings.  For purposes hereof, the “Maximum Fixed Repurchase Price” of any Disqualified Capital Stock or  Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms  of such Disqualified Capital Stock or Preferred Stock as if such Disqualified Capital Stock or Preferred  Stock were purchased on the applicable date on which Consolidated Total Indebtedness shall be required  to be determined pursuant to the Indenture, and if such price is based upon, or measured by, the Fair Market  Value of such Disqualified Capital Stock or Preferred Stock.  The amount of Indebtedness of any Person at  any date will be the amount of all unconditional obligations described above, as such amount would be  reflected on a balance sheet prepared in accordance with GAAP.   “Indenture” means this Indenture, as amended or supplemented from time to time.  “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a  Participant.  “Initial Notes” means the $350 million aggregate principal amount of Notes issued under this  Indenture on the date hereof.   “Initial Purchasers” means BofA Securities, Inc., Goldman, Sachs & Co. LLC and RBC Capital  Markets, LLC.  “Insolvency or Liquidation Proceeding” means, with respect to any Person, (a) any voluntary or  involuntary case or proceeding under any bankruptcy law, (b) any other voluntary or involuntary  insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation,  reorganization or other similar case or proceeding with respect to such Person or with respect to any of its  

 

  11      assets, (c) any liquidation, dissolution, reorganization or winding up of such Person whether voluntary or  involuntary and whether or not involving insolvency or bankruptcy or (d) any assignment for the benefit of  creditors or any other marshaling of assets and liabilities of such Person.  “Institutional Accredited Investor” means an institution that is an “accredited investor” as defined  in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that is not also a QIB.  “Interest Swap Obligations” means the obligations of the Company and its Subsidiaries pursuant  to any arrangement with any other Person, whereby, directly or indirectly, the Company or any Subsidiary  is entitled to receive from time to time periodic payments calculated by applying either a floating or a fixed  rate of interest on a stated notional amount in exchange for periodic payments made by such other Person  calculated by applying a fixed or a floating rate of interest on the same notional amount and shall include,  without limitation, interest rate lock obligations, interest rate swaps, caps, floors, collars and similar  agreements.  “Issue Date” means March 11, 2021, the date of initial issuance of the Notes under this Indenture.  “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of  New York or at any other place of payment for the Notes are authorized by law, regulation or executive  order to remain closed.  If a payment date for the principal of and/or interest on the Notes is a Legal Holiday  in the City of New York or any such other place of payment, payment may be made at that place on the  next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the  intervening period.  “Letter of Credit Facility” means the Letter of Credit Facility Agreement, dated as of March 17,  2020, as amended, among the Company, as borrower, the guarantors named therein, and Bank of America,  N.A., as administrative agent and letter of credit issuer, together with the documents related thereto  (including, without limitation, any guarantee agreements and security documents), in each case as such  agreements may be amended (including any amendment and restatement thereof), supplemented or  otherwise modified from time to time in accordance with their terms, including any agreement extending  the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of  available borrowings thereunder or adding Subsidiaries of the Company as additional borrowers or  guarantors thereunder), and all or any portion of the Indebtedness under such agreement or any successor  or replacement agreement and whether by the same or any other agent, lender or group of lenders.  “Lien” means any lien, mortgage, deed of trust, deed to secure debt, pledge, security interest, charge  or encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in  the nature thereof and any agreement to give any security interest).  “Non-U.S. Person” means a Person who is not a U.S. Person.  “Notes” has the meaning assigned to it in the preamble to this Indenture.  The Initial Notes and the  Additional Notes shall be treated as a single class for all purposes under this Indenture, and unless the  context otherwise requires, all references to the Notes shall include the Initial Notes and any Additional  Notes.  “Obligations” means any and all obligations with respect to the payment of (a) any principal of or  interest (including interest accruing on or after the commencement of any Insolvency or Liquidation  Proceedings, whether or not a claim for post-filing interest is allowed in such proceeding) or premium on  any Indebtedness, including any reimbursement obligation in respect of any letter of credit and (b) any fees,  

 

  12      indemnification obligations, damages, expense reimbursement obligations or other liabilities payable under  the documentation governing any Indebtedness.  “Offering Memorandum” means the Company’s offering memorandum, dated February 25, 2021,  relating to the issuance of the Initial Notes on the Issue Date.  “Officer” means, with respect to any Person, the Chairman of the Board of Directors, the Chief  Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,  any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice-President of  such Person.  “Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer of the  Company that meets the requirements of Section 12.05 hereof.  “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the  Trustee that meets the requirements of Section 12.05 hereof.  The counsel may be an employee of or counsel  to the Company, any Subsidiary of the Company or the Trustee.  “Outstanding Permitted Receivables Financings” means the aggregate amount of the receivables  sold, contributed or financed pursuant to a Permitted Receivables Financing that remain uncollected at any  one time.  For the avoidance of doubt, regardless of the accounting treatment under GAAP, it is understood  that the amount financed pursuant to a Permitted Receivables Financing is the aggregate amount of capital  funded by the purchasers (other than an Account Receivables Entity) thereunder and outstanding at the time  of determination.  “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has  an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall  include Euroclear and Clearstream).  “Permitted Liens” means the following types of Liens:  (1) Liens for taxes, assessments or governmental charges or claims either (A) not delinquent  or (B) contested in good faith by appropriate proceedings and, in each case, as to which  the Company or any Subsidiary shall have set aside on its books such reserves as may be  required pursuant to GAAP;  (2) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics, suppliers,  materialmen, repairmen and other Liens imposed by law incurred in the ordinary course of  business for sums not yet delinquent for a period of more than 60 days or which are being  contested in good faith, if such reserve or other appropriate provision, if any, as shall be  required by GAAP shall have been made in respect thereof;  (3) Liens on property or shares of Capital Stock of another Person at the time such other Person  becomes a Subsidiary of such Person and not incurred in connection with or in  contemplation thereof; provided, however, that the Liens may not extend to any other  property owned by such Person or any of its Subsidiaries (and assets and property affixed  or appurtenant thereto);  (4) Liens on property at the time such Person or any of its Subsidiaries acquires the property  and not incurred in connection with or in contemplation thereof, including any acquisition  by means of a merger or consolidation with or into such Person or a Subsidiary of such  Person; provided, however, that the Liens may not extend to any other property owned by  

 

  13      such Person or any of its Subsidiaries (and assets and property affixed or appurtenant  thereto);  (5) leases, licenses, subleases and sublicenses granted in the ordinary course of business;   (6) any interest or title of a lessor under any lease;  (7) Liens arising out of consignments or similar arrangements for the sale of goods in the  ordinary course of business;  (8) Liens incurred or deposits made in the ordinary course of business in connection with  workers’ compensation, unemployment insurance and other types of social security, any  Lien securing letters of credit issued in the ordinary course of business, or to secure the  performance of tenders, statutory obligations, surety and appeal bonds, bids, leases,  contracts, performance and return-of-money bonds and other similar obligations (exclusive  of obligations for the payment of borrowed money);  (9) judgment Liens not giving rise to an Event of Default so long as such Lien is adequately  bonded and any appropriate legal proceedings which may have been duly initiated for the  review of such judgment shall not have been finally terminated or the period within which  such proceedings may be initiated shall not have expired;  (10) easements, rights-of-way, zoning restrictions and other similar charges or encumbrances  in respect of real property not impairing in any material respect the ordinary conduct of the  business of the Company or any of its Subsidiaries;  (11) any interest or title of a lessor under any Capitalized Lease Obligation; provided that such  Liens do not extend to any property or asset which is not leased property subject to such  Capitalized Lease Obligation;  (12) purchase money Liens securing Indebtedness incurred to acquire, finance, construct,  develop, alter, expand, repair or improve property or assets of the Company or any  Subsidiary used in the business of the Company or any Subsidiary and Liens securing  Indebtedness which Refinances any such Indebtedness; provided, however, that (A) the  related purchase money Indebtedness (or Refinancing Indebtedness) shall not exceed the  cost of such property or assets and shall not be secured by any property or assets of the  Company or any Subsidiary other than the property and assets so acquired (and assets  affixed or appurtenant thereto) and (B) the Lien securing the purchase money Indebtedness  shall be created within 180 days after such acquisition;  (13) Liens upon specific items of inventory or other goods and proceeds of any Person securing  such Person’s obligations in respect of bankers’ acceptances issued or created for the  account of such Person to facilitate the purchase, shipment or storage of such inventory or  other goods;  (14) Liens securing reimbursement obligations with respect to commercial letters of credit  which encumber documents and other property relating to such letters of credit and  products and proceeds thereof;  (15) Liens encumbering deposits made to secure obligations arising from statutory, regulatory,  contractual or warranty requirements of the Company or any of its Subsidiaries, including  rights of offset and set-off;  

 

  14      (16) Liens securing Interest Swap Obligations;  (17) any Liens arising as a result of the sale of property owned by the Company or any  Subsidiary of the Company which property is, immediately following such sale, leased  back to the Company or any Subsidiary;  (18) Liens related to bonds or similar instruments related to the Company’s or any Subsidiary’s  401(k) or other retirement based benefit plans;  (19) Liens incurred with respect to any environmental remediation program;  (20) deposits made in the ordinary course of business to secure liability to insurance carriers;  (21) Liens in favor of customs and revenue authorities arising as a matter of law to secure  payment of custom duties in connection with the importation of goods in the ordinary  course of business;  (22) Liens securing Indebtedness and other Obligations under Commodity Agreements,  Currency Agreements and Cash Management Obligations;  (23) Liens arising from Uniform Commercial Code financing statement filings regarding  operating leases entered into by the Company or any Subsidiary in the ordinary course of  business;  (24) Liens of a collection bank arising under Article IV of the Uniform Commercial Code on  items in the course of collection;  (25) Liens of sellers of goods to the Company and any of its Subsidiaries arising under Article  2 of the Uniform Commercial Code or similar provisions of applicable law in the ordinary  course of business, covering only the goods sold and securing only the unpaid purchase  price for such goods and related expenses;  (26) Liens granted in the ordinary course of business on the unearned portion of insurance  premiums securing the financing of insurance premiums;  (27) Liens securing Acquired Indebtedness (and any Indebtedness which Refinances such  Acquired Indebtedness); provided that (A) such Liens secured the Acquired Indebtedness  at the time of and prior to the incurrence of such Acquired Indebtedness by the Company  or a Subsidiary and were not granted in connection with, or in anticipation of, the  incurrence of such Acquired Indebtedness by the Company or a Subsidiary and (B) such  Liens do not extend to or cover any property or assets of the Company or of any of its  Subsidiaries other than the property or assets that secured the Acquired Indebtedness prior  to the time such Indebtedness became Acquired Indebtedness of the Company or a  Subsidiary;  (28) Liens upon property, including software and license rights with respect to software,  acquired after the date on which the Notes are originally issued (by purchase, construction  or otherwise) by the Company or any of its Subsidiaries, any of which Liens either (A)  existed on such property before the time of its acquisition and was not created in  anticipation thereof, or (B) was created solely for the purpose of securing Indebtedness  representing, or incurred to finance, refinance or refund, the cost (including the cost of  construction) of such property; provided that no such Lien shall extend to or cover any  property of the Company or such Subsidiary other than the property so acquired and  

 

  15      improvements thereon; and provided, further, that the principal amount of Indebtedness  secured by any such Lien shall not exceed (at the time of incurrence) 100% of the Fair  Market Value of such property at the time it was acquired (by purchase, construction or  otherwise);  (29) Liens securing Indebtedness of Foreign Subsidiaries; provided that such Liens do not  extend to any property or assets other than property or assets of Foreign Subsidiaries;  (30) Liens securing Indebtedness of Immaterial Domestic Subsidiaries that are not Wholly  Owned Domestic Subsidiaries, provided that such Liens do not extend to any property or  assets other than property or assets of such Immaterial Domestic Subsidiaries;  (31) Liens incurred in connection with a Permitted Receivables Financing;  (32) Liens securing Indebtedness or other Obligations incurred pursuant to a Credit Facility,  including but not limited to the Credit Agreement, in an aggregate principal amount of  such Indebtedness at the time of incurrence does not to exceed the greater of (x) $1.0 billion  and (y) the maximum amount such that at the time of incurrence and after giving pro forma  effect thereto (including the use of net proceeds therefrom), the Consolidated Secured Debt  Ratio would not be greater than 4.00:1.00; and  (33) Liens securing Indebtedness or other obligations in an aggregate principal amount not  exceeding the greater of (y) $300.0 million and (z) 10% of the Total Assets of the Company  determined at the time that such Lien is put in place, and all other Obligations relating  thereto.  Indebtedness outstanding under the Credit Agreement or the Letter of Credit Facility on the Issue  Date shall be deemed outstanding under clause (32) of the preceding paragraph and not under Section  4.07(a)(ii)(A).    “Permitted Receivables Financing” means any sale or contribution by the Company or a Subsidiary  of accounts receivable and related assets intended to be (and which shall be treated for purposes of the  Indenture as) a true sale transaction with customary limited recourse based upon the collectability of the  receivables and related assets sold and the corresponding sale or pledge of such accounts receivable and  related assets (or an interest therein), in each case without any guarantee (excluding guarantees of  obligations (other than of collectability of receivables transferred or of Indebtedness) pursuant to  representations, warranties, covenants and indemnities customary for such transactions) by the Company  or any Subsidiary other than an Accounts Receivable Entity.  “Person” means an individual, partnership, corporation, unincorporated organization, trust or joint  venture, or a governmental agency or political subdivision thereof.  “Preferred Stock” of any Person means any Capital Stock of such Person that has preferential rights  to any other Capital Stock of such Person with respect to dividends or redemptions or upon liquidation.  “Principal Facility” means any manufacturing facility (or portion thereof) owned or leased by the  Company or any Domestic Subsidiary and located within the continental United States that, in the good  faith opinion of the Company, is of material importance to the Company’s business taken as a whole, but  no such manufacturing facility (or portion thereof) shall be deemed of material importance if its gross book  value of property, plant and equipment (before deducting accumulated depreciation) is less than 3% of the  Company’s Total Assets measured as of the end of the most recent quarter for which financial statements  are available.  As used in this definition, “manufacturing facility” means property, plant and equipment  

 

  16      used for actual manufacturing and for activities directly related to manufacturing such as quality assurance,  engineering, maintenance, staging areas for work in process administration, employees, eating and comfort  facilities and manufacturing administration, and it excludes sales offices, research facilities and facilities  used only for warehousing, distribution or general administration.  “Private Placement Legend” means the legend set forth in Section 2.06(f)(i) hereof to be placed  on all Notes issued under this Indenture except where otherwise permitted by the provisions of this  Indenture.  “Refinance” means in respect of any security or Indebtedness, to refinance, extend, renew, refund,  repay, prepay, redeem, defease or retire, or to issue a security or Indebtedness in exchange or replacement  for, such security or Indebtedness in whole or in part.  “Refinanced” and “Refinancing” shall have correlative meanings.  “Refinancing Indebtedness” means any Refinancing by the Company or any Subsidiary of  Indebtedness, in each case that does not:  (1) result in an increase in the aggregate principal amount of any Indebtedness of such Person  as of the date of the completion of all components of such proposed Refinancing (provided  such completion occurs within 60 days of the initial incurrence of Indebtedness in  connection with such Refinancing) (plus the amount of any accrued and unpaid interest,  any premium reasonably necessary to Refinance such Indebtedness, any settlement or  termination costs for any associated Interest Swap Obligations and plus the amount of  reasonable expenses incurred by the Company in connection with such Refinancing); or  (2) create Indebtedness with (A) a Weighted Average Life to Maturity that is less than the  Weighted Average Life to Maturity of the Indebtedness being Refinanced or (B) a final  maturity earlier than the final maturity of the Indebtedness being Refinanced;  provided that (x) if such Indebtedness being Refinanced is Indebtedness of the Company and/or a  Guarantor, then such Refinancing Indebtedness shall be Indebtedness solely of the Company and/or such  Guarantor and (y) if such Indebtedness being Refinanced is subordinate or junior to the Notes or any  Subsidiary Guarantee, then such Refinancing Indebtedness shall be subordinate to the Notes or such  Subsidiary Guarantee, as the case may be, at least to the same extent and in the same manner as the  Indebtedness being Refinanced.  “Regulation S” means Regulation S promulgated under the Securities Act.  “Regulation S Global Note” means a Global Note substantially in the form of Exhibit A hereto  bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and  registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding  principal amount of the Notes sold in reliance on Rule 903 of Regulation S.  “Responsible Officer,” when used with respect to the Trustee, means any officer within the  Corporate Trust Administration department of the Trustee (or any successor group of the Trustee) or any  other officer of the Trustee customarily performing functions similar to those performed by any of the above  designated officers, in each case responsible for administering this Indenture, and also means, with respect  to a particular corporate trust matter, any other officer to whom such matter is referred because of his  knowledge of and familiarity with the particular subject.  

 

  17      “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.  “Restricted Global Note” means a Global Note bearing the Private Placement Legend.  “Restricted Period” means, in relation to the offering of the Initial Notes pursuant to the Offering  Memorandum or any subsequent similar offer of Additional Notes, the 40-day distribution compliance  period as defined in Regulation S.   “Rule 144” means Rule 144 promulgated under the Securities Act.  “Rule 144A” means Rule 144A promulgated under the Securities Act.  “Rule 903” means Rule 903 promulgated under the Securities Act.  “Rule 904” means Rule 904 promulgated under the Securities Act.  “Sale and Leaseback Transaction” means any direct or indirect sale or transfer (or other  arrangement) with any Person or to which any such Person is a party, providing for the leasing to the  Company or a Domestic Subsidiary of any Principal Facility that (in the case of a Principal Facility which  is a building or equipment) has been in operation, use or commercial production (exclusive of test and start- up periods) by the Company or any Domestic Subsidiary for more than 180 days prior to such sale or  transfer, or that (in the case of a Principal Facility that is a parcel of real property not containing a building)  has been owned by the Company or any Domestic Subsidiary for more than 180 days prior to such sale or  transfer, if such sale or transfer is made with the intention of leasing, or as part of an arrangement involving  the lease of such Principal Facility to the Company or a Domestic Subsidiary (except (1) a lease for a period  not exceeding 36 months made with the intention that the use of the leased Principal Facility by the  Company or such Domestic Subsidiary will be discontinued on or before the expiration of such period and  (2) a lease between the Company and a Domestic Subsidiary or between Domestic Subsidiaries).  The  creation of any Indebtedness secured by a Lien permitted under the applicable section of the Indenture will  not be deemed to create or be considered a Sale and Leaseback Transaction.  “Securities Act” means the Securities Act of 1933, as amended, or any successor statute or statutes  thereto, and the rules and regulations of the Commission promulgated thereunder.  “Significant Subsidiary” means any Subsidiary that satisfies the criteria for a “significant  subsidiary” set forth in Rule 1.02(w) of Regulation S-X under the Securities Act.  “Subsidiary,” with respect to any Person, means (1) any corporation of which the outstanding  Capital Stock having at least a majority of the votes entitled to be cast in the election of directors under  ordinary circumstances shall at the time be owned, directly or indirectly, by such Person or (2) any other  Person of which at least a majority of the voting interest under ordinary circumstances is at the time, directly  or indirectly, owned by such Person.  “Subsidiary Guarantee” means the guarantee by each Guarantor of the Obligations of the Company  under the Notes pursuant to this Indenture.  “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).  “Total Assets” means the total assets of the Company and its Subsidiaries on a consolidated basis,  as shown on the most recent consolidated balance sheet of the Company and its Subsidiaries as may be  expressly stated.  

 

  18      “Transaction Date” has the meaning set forth in the definition of Consolidated Secured Debt Ratio.  “Treasury Rate” means, with respect to a redemption date, the weekly average for each Business  Day during the most recent week that has ended at least two Business Days prior to the redemption date  (or, in the case of a calculation being made in connection with a Legal Defeasance or Covenant Defeasance  or satisfaction and discharge of this Indenture, delivery of the applicable notice of redemption) of the yield  to maturity at the time of computation of United States Treasury securities with a constant maturity (as  compiled and published in the most recent Federal Reserve Statistical Release H.15(or, if such statistical  release is not so published or available, any publicly available source of similar market data selected by the  Company in good faith)) most nearly equal to the period from such redemption date to March 15, 2024;  provided, however, that if the period from the redemption date to such date is not equal to the constant  maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate  shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly  average yields of United States Treasury securities for which such yields are given, except that if the period  from the redemption date to such date is less than one year, the weekly average yield on actually traded  United States Treasury securities adjusted to a constant maturity of one year shall be used.  “Trustee” means The Bank of New York Mellon Trust Company, N.A., until a successor replaces  it in accordance with the applicable provisions of this Indenture and thereafter means such successor.  “Unrestricted Definitive Note” means a Definitive Note that does not bear and is not required to  bear the Private Placement Legend.  “Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the  Private Placement Legend.  “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities  Act.  “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that  is at the time entitled to vote in the election of the Board of Directors of such Person.  “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the  number of years obtained by dividing:  (1) the then outstanding aggregate principal amount of such Indebtedness; into  (2) the sum of the total of the products obtained by multiplying:  (a) the amount of each then remaining installment, sinking fund, serial maturity or  other required payment of principal, including payment at final maturity, in respect  thereof; by  (b) the number of years (calculated to the nearest one-twelfth) which will elapse  between such date and the making of such payment.  “Wholly Owned Domestic Subsidiary” means a Wholly Owned Subsidiary that is also a Domestic  Subsidiary.   “Wholly Owned Subsidiary” of the Company means any Subsidiary of which all the outstanding  voting securities (other than in the case of a Foreign Subsidiary, directors’ qualifying shares or an  

 

  19      immaterial amount of shares required to be owned by other Persons pursuant to applicable law) are owned  by the Company or any other Wholly Owned Subsidiary.  Section 1.02 Other Definitions.    Defined  in   Term Section  “Authentication Order” ................................................................................  2.02  “Cash Management Programs” ....................................................................  4.10  “Change of Control Offer” ...........................................................................  4.09  “Change of Control Payment” ......................................................................  4.09  “Change of Control Payment Date” .............................................................  4.09  “Covenant Defeasance” ...............................................................................  8.03  “Event of Default” ........................................................................................  6.01  “Guarantee” ................................................................................................  4.10  “Guaranteed Indebtedness” .........................................................................  4.10  “Legal Defeasance” .....................................................................................  8.02  “Paying Agent” ............................................................................................  2.03  “Payment Default”  ......................................................................................  6.01  “Registrar” ..................................................................................................  2.03  “Surviving Entity”  .......................................................................................  5.01  “Suspension Period”  ...................................................................................  8.07;  11.02       Section 1.03 Incorporation by Reference of Trust Indenture Act.  Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference  in and made a part of this Indenture.  The following TIA terms used in this Indenture have the following meanings:  “indenture securities” means the Notes;  “indenture security Holder” means a Holder of a Note;  “indenture to be qualified” means this Indenture;  “indenture trustee” or “institutional trustee” means the Trustee; and  “obligor” on the Notes and the Subsidiary Guarantees means the Company and the Guarantors,  respectively, and any successor obligor upon the Notes and the Subsidiary Guarantees, respectively.  All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to  another statute or defined by the Commission rule under the TIA have the meanings so assigned to them.  Section 1.04 Rules of Construction.  

 

  20      Unless the context otherwise requires:  (a) a term has the meaning assigned to it;  (b) an accounting term not otherwise defined has the meaning assigned to it in accordance with  GAAP;  (c) “or” is not exclusive;  (d) “including” is not limiting;  (e) words in the singular include the plural, and in the plural include the singular;  (f) “will” shall be interpreted to express a command;   (g) provisions apply to successive events and transactions; and  (h) references to sections of or rules under the Securities Act will be deemed to include  substitute, replacement or successor sections or rules adopted by the Commission from time to time.  ARTICLE 2  THE NOTES  Section 2.01 Form and Dating.  (a) General.  The Notes and the Trustee’s certificate of authentication will be substantially in  the form of Exhibit A hereto.  The Notes may have notations, legends or endorsements required by law,  stock exchange rule or usage.  Each Note will be dated the date of its authentication.  The Notes shall be in  denominations of $2,000 and integral multiples of $1,000 in excess thereof.  The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a  part of this Indenture and the Company and the Trustee, by their execution and delivery of this Indenture,  expressly agree to such terms and provisions and to be bound thereby.  However, to the extent any provision  of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall  govern and be controlling.  (b) Global Notes.  Notes issued in global form will be substantially in the form of Exhibit A  hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global  Note” attached thereto).  Notes issued in definitive form will be substantially in the form of Exhibit A hereto  (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in the  Global Note” attached thereto).  Each Global Note will represent such of the outstanding Notes as will be  specified therein and each shall provide that it represents the aggregate principal amount of outstanding  Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes  represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges  and redemptions.  Any endorsement of a Global Note to reflect the amount of any increase or decrease in  the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the  Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as  required by Section 2.06 hereof.  Notes offered and sold to a QIB in reliance on Rule 144A shall be issued  initially in the form of one or more 144A Global Notes and numbered from 1 upward with the prefix “RA”,  Notes offered and sold in reliance on Regulation S shall be issued initially in the form of one or more  Regulation S Global Notes and numbered from 1 upward with the prefix “RS”, Notes issued to Institutional  

 

  21      Accredited Investors shall be issued initially in the form of one or more IAI Global Notes and numbered  from 1 upward with the prefix “IAI”, and Unrestricted Global Notes shall be issued initially in the form of  one or more permanent Global Notes with the Global Legend and numbered from 1 upward with the prefix  “R”, which in each case shall be deposited with the Custodian, and registered in the name of the Depositary  or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as  hereinafter provided.  Section 2.02 Execution and Authentication.  At least one Officer must sign the Notes for the Company by manual or facsimile signature.    If an Officer whose signature is on a Note no longer holds that office at the time a Note is  authenticated, the Note will nevertheless be valid.  A Note will not be valid until authenticated by the manual or facsimile signature of the Trustee.   The signature will be conclusive evidence that the Note has been authenticated under this Indenture.  The Trustee will, upon receipt of a written order of the Company in the form of an Officer’s  Certificate (an “Authentication Order”), authenticate Notes for original issue that may be validly issued  under this Indenture.  The aggregate principal amount of Notes outstanding at any time may not exceed the  aggregate principal amount of Notes authorized for issuance by the Company pursuant to one or more  Authentication Orders, except as provided in Section 2.07 hereof.    The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes.   An authenticating agent may authenticate Notes whenever the Trustee may do so.  Each reference in this  Indenture to authentication by the Trustee includes authentication by such agent.  An authenticating agent  has the same rights as an Agent to deal with Holders or an Affiliate of the Company.  Section 2.03 Registrar and Paying Agent.  The Company will maintain an office or agency where Notes may be presented for registration of  transfer or for exchange (“Registrar”) and an office or agency where Notes may be presented for payment  (“Paying Agent”).  The Registrar will keep a register of the Notes and of their transfer and exchange.  The  Company may appoint one or more co-registrars and one or more additional paying agents; provided that  at all times there shall be only one Note register.  The term “Registrar” includes any co-registrar and the  term “Paying Agent” includes any additional paying agent.  The Company may change any Paying Agent  or Registrar without notice to any Holder.  The Company will notify the Trustee in writing of the name and  address of any Agent not a party to this Indenture.  The Company shall enter into an appropriate agency  agreement with any Agent not a party to this Indenture, which shall incorporate the provisions of Section  317(b) of the TIA.  The agreement shall implement the provisions of this Indenture that related to such  Agent.  If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee  shall act as such.  The Company or any of its Subsidiaries may act as Paying Agent or Registrar.  The Company initially appoints DTC to act as Depositary with respect to the Global Notes.  The Company initially appoints the Corporate Trust Office of the Trustee to act as the Registrar  and Paying Agent and to act as Custodian with respect to the Global Notes and as the agency of the  Company where notices and demands to or upon the Company in respect of the Notes and this Indenture  may be served.  Section 2.04 Paying Agent to Hold Money in Trust.  

 

  22      The Company will require each Paying Agent other than the Trustee to agree in writing that the  Paying Agent will hold in trust for the benefit of Holders or the Trustee all money held by the Paying Agent  for the payment of principal of, premium, if any, on, or interest, on the Notes, and will notify the Trustee  of any default by the Company in making any such payment.  While any such default continues, the Trustee  may require a Paying Agent to pay all money held by it to the Trustee.  The Company at any time may  require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the  Paying Agent (if other than the Company or a Subsidiary) will have no further liability for the money.  If  the Company or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate trust fund for  the benefit of the Holders all money held by it as Paying Agent.  Upon any bankruptcy or reorganization  proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes.  Section 2.05 Holder Lists.  The Trustee will preserve in as current a form as is reasonably practicable the most recent list  available to it of the names and addresses of all Holders.  If the Trustee is not the Registrar, the Company  will furnish to the Trustee at least seven Business Days before each interest payment date and at such other  times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may  reasonably require of the names and addresses of the Holders of Notes.  Section 2.06 Transfer and Exchange.  (a) Transfer and Exchange of Global Notes.  A Global Note may not be transferred except as  a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary  or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor  Depositary or a nominee of such successor Depositary.  Global Notes may be exchanged by the Company  for Definitive Notes if:  (i) the Company delivers to the Trustee notice from the Depositary that it is unwilling  or unable to continue to act as Depositary or that it is no longer a clearing agency registered under  the Exchange Act and, in either case, a successor Depositary is not appointed by the Company  within 90 days after the date of such notice from the Depositary;   (ii) the Company in its sole discretion and subject to the Depositary’s procedures  determines that the Global Notes (in whole but not in part) should be exchanged for Definitive  Notes and delivers a written notice to such effect to the Trustee; or   (iii) there has occurred and is continuing a Default or Event of Default with respect to  the Notes.  In connection with the issuance of Definitive Notes upon the occurrence of any of the preceding  events in (i), (ii) or (iii) above, Definitive Notes shall be issued in such names as the Depositary shall  instruct the Trustee.  Global Notes also may be exchanged or replaced, in whole or in part, as provided in  Sections 2.07 and 2.10 hereof.  Every Note authenticated and delivered in exchange for, or in lieu of, a  Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall be  authenticated and delivered in the form of, and shall be, a Global Note.  A Global Note may not be  exchanged for another Note other than as provided in this Section 2.06(a), however, beneficial interests in  a Global Note may be transferred and exchanged for Definitive Notes or beneficial interests in other Global  Notes as provided in Section 2.06(b), (c), or (d) hereof.  The Company shall supply the Trustee with the  necessary Note inventory to effectuate any transfers and exchanges.  

 

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

 

  24      (iii) Transfer of Beneficial Interests to Another Restricted Global Note.  A beneficial  interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in  the form of a beneficial interest in another Restricted Global Note if the transfer complies with the  requirements of Section 2.06(b)(ii) above and the Registrar receives the following:  (A) if the transferee will take delivery in the form of a beneficial interest in the  144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B  hereto, including the certifications in item (1) thereof;  (B) if the transferee will take delivery in the form of a beneficial interest in the  Regulation S Global Note, then the transferor must deliver a certificate in the form of  Exhibit B hereto, including the certifications in item (2) thereof; and  (C) if the transferee will take delivery in the form of a beneficial interest in the  IAI Global Note, then the transferor must deliver a certificate in the form of Exhibit B  hereto, including the certifications, certificates and Opinion of Counsel required by item  (3) thereof, if applicable.  (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for  Beneficial Interests in an Unrestricted Global Note.  A beneficial interest in any Restricted Global  Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global  Note or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an  Unrestricted Global Note if the exchange or transfer complies with the requirements of Section  2.06(b)(ii) above and the Registrar receives the following:  (1) if the holder of such beneficial interest in a Restricted Global Note  proposes to exchange such beneficial interest for a beneficial interest in an  Unrestricted Global Note, a certificate from such holder in the form of Exhibit C  hereto, including the certifications in item (1)(a) thereof; or  (2) if the holder of such beneficial interest in a Restricted Global Note  proposes to transfer such beneficial interest to a Person who shall take delivery  thereof in the form of a beneficial interest in an Unrestricted Global Note, a  certificate from such holder in the form of Exhibit B hereto, including the  certifications in item (4) thereof;  and, in each such case set forth in this subparagraph (iv), if the Company so requests or if  the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable  to the Company to the effect that such exchange or transfer is in compliance with the  Securities Act and that the restrictions on transfer contained herein and in the Private  Placement Legend are no longer required in order to maintain compliance with the  Securities Act.  If any such transfer or exchange is effected pursuant to subparagraph (ii) or (iv) above at a time  when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an  Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more  Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of  beneficial interests transferred or exchanged pursuant to subparagraph (ii) or (iv) above.  If any transfer or exchange to or for an IAI Global Note is effected pursuant to this Section 2.06 at  a time when an IAI Global Note has not yet been issued, the Company shall issue and, upon receipt of an  

 

  25      Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more  IAI Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial  interests transferred or exchanged pursuant to this Section 2.06.  Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to  Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note.  (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.  (i) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes.  If  any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial  interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes  delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of  the following documentation:  (A) if the holder of such beneficial interest in a Restricted Global Note  proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate  from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a)  thereof;  (B) if such beneficial interest is being transferred to a QIB in accordance with  Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the  certifications in item (1) thereof;  (C) if such beneficial interest is being transferred to a Non-U.S. Person in an  offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set  forth in Exhibit B hereto, including the certifications in item (2) thereof;  (D) if such beneficial interest is being transferred pursuant to an exemption  from the registration requirements of the Securities Act in accordance with Rule 144, a  certificate to the effect set forth in Exhibit B hereto, including the certifications in item  (3)(a) thereof;  (E) if such beneficial interest is being transferred to an Institutional Accredited  Investor in reliance on an exemption from the registration requirements of the Securities  Act other than those listed in subparagraphs (B) through (D) above, a certificate to the  effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of  Counsel required by item (3) thereof, if applicable;  (F) if such beneficial interest is being transferred to the Company or any of its  Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the  certifications in item (3)(b) thereof; or  (G) if such beneficial interest is being transferred pursuant to an effective  registration statement under the Securities Act, a certificate to the effect set forth in Exhibit  B hereto, including the certifications in item (3)(c) thereof,  the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced  accordingly pursuant to Section 2.06(g) hereof, and the Company shall execute and the Trustee shall  authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate  principal amount.  Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global  

 

  26      Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized  denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through  instructions from the Depositary and the Participant or Indirect Participant.  The Trustee shall deliver such  Definitive Notes to the Persons in whose names such Notes are so registered.  Any Definitive Note issued  in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall  bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.  In  order to facilitate compliance with the foregoing provisions, if and as requested by the Trustee, the  Company shall promptly prepare and deliver to the Trustee a supply of Definitive Notes.  (ii) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes.  A  holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest  for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes  delivery thereof in the form of an Unrestricted Definitive Note only if the Registrar receives the  following:  (1) if the holder of such beneficial interest in a Restricted Global Note  proposes to exchange such beneficial interest for an Unrestricted Definitive Note,  a certificate from such holder in the form of Exhibit C hereto, including the  certifications in item (1)(b) thereof; or  (2) if the holder of such beneficial interest in a Restricted Global Note  proposes to transfer such beneficial interest to a Person who shall take delivery  thereof in the form of an Unrestricted Definitive Note, a certificate from such  holder in the form of Exhibit B hereto, including the certifications in item (4)  thereof;  and, in each such case set forth in this subparagraph (ii), if the Company so requests or if  the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable  to the Company to the effect that such exchange or transfer is in compliance with the  Securities Act and that the restrictions on transfer contained herein and in the Private  Placement Legend are no longer required in order to maintain compliance with the  Securities Act.  (iii) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes.   If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such  beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes  delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth  in Section 2.06(b)(ii) hereof, the Trustee will cause the aggregate principal amount of the applicable  Global Note to be reduced accordingly pursuant to Section 2.06(g) hereof, and the Company will  execute and the Trustee will authenticate and deliver to the Person designated in the instructions a  Definitive Note in the appropriate principal amount.  Any Definitive Note issued in exchange for a  beneficial interest pursuant to this Section 2.06(c)(iii) will be registered in such name or names and  in such authorized denomination or denominations as the holder of such beneficial interest requests  through instructions to the Registrar from or through the Depositary and the Participant or Indirect  Participant.  The Trustee will deliver such Definitive Notes to the Persons in whose names such  Notes are so registered.  Any Definitive Note issued in exchange for a beneficial interest pursuant  to this Section 2.06(c)(iii) will not bear the Private Placement Legend.  In order to facilitate  compliance with the foregoing provisions, if and as requested by the Trustee, the Company shall  promptly prepare and deliver to the Trustee a supply of Definitive Notes.  (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.  

 

  27      (i) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes.   Prior to any registration of transfer or exchange pursuant to this clause (i), the requesting Holder  must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a  written instrument of transfer in form satisfactory to the Registrar duly executed by such Holder or  by its attorney, duly authorized in writing.  If any Holder of a Restricted Definitive Note proposes  to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such  Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial  interest in a Restricted Global Note, then, upon receipt by the Registrar of the following  documentation:  (A) if the Holder of such Restricted Definitive Note proposes to exchange such  Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in  the form of Exhibit C hereto, including the certifications in item (2)(b) thereof;  (B) if such Restricted Definitive Note is being transferred to a QIB in  accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto,  including the certifications in item (1) thereof;  (C) if such Restricted Definitive Note is being transferred to a Non-U.S.  Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to  the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;  (D) if such Restricted Definitive Note is being transferred pursuant to an  exemption from the registration requirements of the Securities Act in accordance with Rule  144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in  item (3)(a) thereof;  (E) if such Restricted Definitive Note is being transferred to an Institutional  Accredited Investor in reliance on an exemption from the registration requirements of the  Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate  to the effect set forth in Exhibit B hereto, including the certifications, certificates and  Opinion of Counsel required by item (3) thereof, if applicable;  (F) if such Restricted Definitive Note is being transferred to the Company or  any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the  certifications in item (3)(b) thereof; or  (G) if such Restricted Definitive Note is being transferred pursuant to an  effective registration statement under the Securities Act, a certificate to the effect set forth  in Exhibit B hereto, including the certifications in item (3)(c) thereof,  the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the  aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted  Global Note, in the case of clause (B) above, the 144A Global Note, in the case of clause  (C) above, the Regulation S Global Note, and in all other cases, the IAI Global Note.  (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.   Prior to any registration of transfer or exchange pursuant to this clause (ii), the requesting Holder  must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a  written instrument of transfer in form satisfactory to the Registrar duly executed by such Holder or  by its attorney, duly authorized in writing.  A Holder of a Restricted Definitive Note may exchange  

 

  28      such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted  Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an  Unrestricted Global Note only if the Registrar receives the following:  (1) if the Holder of such Definitive Notes proposes to exchange such  Notes for a beneficial interest in the Unrestricted Global Note, a certificate from  such Holder in the form of Exhibit C hereto, including the certifications in item  (1)(c) thereof; or  (2) if the Holder of such Definitive Notes proposes to transfer such  Notes to a Person who shall take delivery thereof in the form of a beneficial interest  in the Unrestricted Global Note, a certificate from such Holder in the form of  Exhibit B hereto, including the certifications in item (4) thereof;  and, in each such case set forth in this subparagraph (ii), if the Company so requests or if  the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable  to the Company to the effect that such exchange or transfer is in compliance with the  Securities Act and that the restrictions on transfer contained herein and in the Private  Placement Legend are no longer required in order to maintain compliance with the  Securities Act.  Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.06(d)(ii),  the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate  principal amount of the Unrestricted Global Note.  (iii) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes.   A Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in  an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery  thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.  Upon receipt  of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted  Definitive Note and increase or cause to be increased the aggregate principal amount of one of the  Unrestricted Global Notes.  Prior to such registration of transfer or exchange, the requesting Holder  must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a  written instrument of transfer in form satisfactory to the Registrar duly executed by such Holder or  by its attorney, duly authorized in writing.    If any such exchange or transfer from a Definitive Note to a beneficial interest is effected  pursuant to subparagraphs (ii) or (iii) above at a time when an Unrestricted Global Note has not yet  been issued, the Company will issue and, upon receipt of an Authentication Order in accordance  with Section 2.02 hereof, the Trustee will authenticate one or more Unrestricted Global Notes in  an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.  (e) Transfer and Exchange of Definitive Notes for Definitive Notes.  Upon request by a Holder  of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the Registrar  will register the transfer or exchange of Definitive Notes.  Prior to such registration of transfer or exchange,  the requesting Holder must present or surrender to the Registrar the Definitive Notes duly endorsed or  accompanied by a written instrument of transfer in form satisfactory to the Registrar duly executed by such  Holder or by its attorney, duly authorized in writing.  In addition, the requesting Holder must provide any  additional certifications, documents and information, as applicable, required pursuant to the following  provisions of this Section 2.06(e).  

 

  29      (i) Restricted Definitive Notes to Restricted Definitive Notes.  Any Restricted  Definitive Note may be transferred to and registered in the name of Persons who take delivery  thereof in the form of a Restricted Definitive Note if the Registrar receives the following:  (A) if the transfer will be made pursuant to Rule 144A, then the transferor must  deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1)  thereof;  (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the  transferor must deliver a certificate in the form of Exhibit B hereto, including the  certifications in item (2) thereof; and  (C) if the transfer will be made pursuant to any other exemption from the  registration requirements of the Securities Act, then the transferor must deliver a certificate  in the form of Exhibit B hereto, including the certifications, certificates and Opinion of  Counsel required by item (3) thereof, if applicable.  (ii) Restricted Definitive Notes to Unrestricted Definitive Notes.  Any Restricted  Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or  transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted  Definitive Note if the Registrar receives the following:  (1) if the Holder of such Restricted Definitive Notes proposes to  exchange such Notes for an Unrestricted Definitive Note, a certificate from such  Holder in the form of Exhibit C hereto, including the certifications in item (1)(d)  thereof; or  (2) if the Holder of such Restricted Definitive Notes proposes to  transfer such Notes to a Person who shall take delivery thereof in the form of an  Unrestricted Definitive Note, a certificate from such Holder in the form of Exhibit  B hereto, including the certifications in item (4) thereof;  and, in each such case set forth in this subparagraph (ii), if the Company so requests, an  Opinion of Counsel in form reasonably acceptable to the Company to the effect that such  exchange or transfer is in compliance with the Securities Act and that the restrictions on  transfer contained herein and in the Private Placement Legend are no longer required in  order to maintain compliance with the Securities Act.  (iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes.  A Holder of  Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in  the form of an Unrestricted Definitive Note.  Upon receipt of a request to register such a transfer,  the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the  Holder thereof.    (iv) In order to facilitate compliance with the foregoing provisions, if and as requested  by the Trustee, the Company shall promptly prepare and deliver to the Trustee a supply of  Definitive Notes.  (f) Legends.  The following legends will appear on the face of all Global Notes and Definitive  Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this  Indenture.  

 

  30      (i) Private Placement Legend.  (A) Except as permitted by subparagraph (B) below, each Global Note and  each Definitive Note (and all Notes issued in exchange therefor or substitution thereof)  shall bear the legend in substantially the following form:  “THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED  STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED,  SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A) (1) TO A PERSON WHO THE  SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE  MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN  ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A  TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) IN AN OFFSHORE  TRANSACTION COMPLYING WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE  SECURITIES ACT, (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE  SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE), (4) TO AN  INSTITUTIONAL INVESTOR THAT IS AN ACCREDITED INVESTOR WITHIN THE MEANING OF  RULE 501 OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT  FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, OR (5) PURSUANT TO  AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (B) IN  ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED  STATES AND OTHER JURISDICTIONS.”  (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued  pursuant to subparagraphs (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), or (e)(iii) of this  Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not  bear the Private Placement Legend.  (ii) Global Note Legend.  Each Global Note will bear a legend in substantially the  following form:  “THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE  GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE  BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY  CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON  AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL  NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a)  OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR  CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL  NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN  CONSENT OF LOUISIANA-PACIFIC CORPORATION.  UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE  FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY  TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE  DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR  ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR  DEPOSITARY.  UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED  REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK,  NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,  EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME  

 

  31      OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED  REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER  ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY  TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY  PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS  AN INTEREST HEREIN.”  By its acceptance of any Note bearing the Global Notes Legend or the Private Placement Legend,  each Holder of such Note acknowledges the restrictions on transfer of such Note set forth in this Indenture  and agrees that it shall transfer such Note only as provided in this Indenture.  (g) Cancellation and/or Adjustment of Global Notes.  At such time as all beneficial interests  in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been  redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or  retained and canceled by the Trustee in accordance with Section 2.11 hereof.  At any time prior to such  cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will  take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the  principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement  will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to  reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who  will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note  will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by  the Depositary at the direction of the Trustee to reflect such increase.  (h) General Provisions Relating to Transfers, Exchanges and Global Notes.  (i) To permit registrations of transfers and exchanges, the Company will execute and  the Trustee will authenticate Global Notes and Definitive Notes upon receipt of an Authentication  Order in accordance with Section 2.02 hereof or at the Registrar’s request.  (ii) No service charge will be made to a Holder of a beneficial interest in a Global Note  or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company  may require payment of a sum sufficient to cover any transfer tax or similar governmental charge  payable in connection therewith (other than any such transfer taxes or similar governmental charge  payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.09 and 9.04 hereof).   (iii) The Registrar will not be required to register the transfer of or exchange of any  Note selected for redemption in whole or in part, except the unredeemed portion of any Note being  redeemed in part.  (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or  exchange of Global Notes or Definitive Notes will be the valid obligations of the Company,  evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global  Notes or Definitive Notes surrendered upon such registration of transfer or exchange.  (v) Neither the Registrar nor the Company will be required:  (A) to issue, to register the transfer of or to exchange any Notes during a period  beginning at the opening of business 15 days before the day of any selection of Notes for  redemption under Section 3.02 hereof and ending at the close of business on the day of  selection; or  

 

  32      (B) to register the transfer of or to exchange a Note between a record date and  the next succeeding interest payment date.  (vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee,  any Agent and the Company may deem and treat the Person in whose name any Note is registered  as the absolute owner of such Note for the purpose of receiving payment of principal of and  premium, if any, and (subject to the record date provisions of the Notes) interest on such Notes and  for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by  notice to the contrary.  (vii) The Trustee will authenticate Global Notes and Definitive Notes in accordance  with the provisions of Section 2.02 hereof.  (viii) All certifications, certificates and Opinions of Counsel required to be submitted to  the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be  submitted by facsimile.  (ix) The registered holder of a Global Note may grant proxies and otherwise authorize  any Person, including any Participants or Indirect Participants of the Depositary and Persons that  may hold an interest in such Participants or Indirect Participants, to take any action which a Holder  is entitled to take under this Indenture or any Note.  (x) Neither the Company nor the Trustee shall have any responsibility or obligation to  any beneficial owner of a Global Note, any Participant or Indirect Participant in the Depositary or  other Person with respect to the accuracy of the records of the Depositary or its nominee or of any  Participant or Indirect Participant or member thereof, with respect to any ownership interest in  Global Notes or with respect to the delivery to any Participant or Indirect Participant, member,  beneficial owner or other Person (other than the Depositary) of any notice (including any notice of  redemption) or the payment of any amount, under or with respect to such Global Notes.  All notices  and communications to be given to the Holders and all payments to be made to Holders under the  Global Notes shall be given or made only to or upon the order of the registered Holders (which  shall be the Depositary or its nominee in the case of a Global Note).  The rights of beneficial owners  in any Global Note shall be exercised only through the Depositary subject to the applicable rules  and procedures of the Depositary.  The Company and the Trustee may rely conclusively and shall  be fully protected in relying upon information furnished by the Depositary with respect to its  members, Participants, Indirect Participants and any beneficial owners.  Nothing herein shall  prevent the Company, any Agent or the Trustee from giving effect to any written certification,  proxy or other authorization furnished by the Depositary or impair, as between the Depositary and  the Participants and Indirect Participants of the Depositary, the operation of customary practices  governing the exercise of the rights of a Holder of any Note. The Trustee shall have no obligation  or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed  under this Indenture or under applicable law with respect to any transfer of any interest in any  Global Note (including any transfers between or among Participants, Indirect Participants,  members or beneficial owners in any Global Note) other than to require delivery of such certificates  and other documentation or evidence as are expressly required by, and to do so if and when  expressly required by, the terms of this Indenture, and to examine the same to determine substantial  compliance as to form with the express requirements hereof.  Section 2.07 Replacement Notes.  

 

  33      If any mutilated Note is surrendered to the Trustee or the Company and the Trustee and the  Company receive evidence to their satisfaction of the destruction, loss or theft of any Note, the Company  will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if  the Trustee’s requirements are met.  If required by the Trustee or the Company, an indemnity bond must be  supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the  Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer  if a Note is replaced.  The Company may charge for its expenses in replacing a Note.  Every replacement Note is an additional obligation of the Company and will be entitled to all of  the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder.  Notwithstanding the foregoing provisions of this Section 2.07, in case any mutilated, destroyed,  lost or stolen Note has become or is about to become due and payable, the Company in its discretion may,  instead of issuing a new Note, pay such Note.  The provisions of this Section 2.07 shall be exclusive and shall preclude (to the extent lawful) all  other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen  Notes.  Section 2.08 Outstanding Notes.  The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those  canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected  by the Trustee in accordance with the provisions hereof, and those described in this Section 2.08 as not  outstanding.  Except as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because  the Company or an Affiliate of the Company holds the Note.   If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding unless the Trustee  receives proof satisfactory to it that the replaced Note is held by a protected purchaser.  If the principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be  outstanding and interest on it ceases to accrue.  If the Paying Agent (other than the Company or a Subsidiary of the Company) holds, on a  redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and after that  date such Notes will be deemed to be no longer outstanding and will cease to accrue interest.  Section 2.09 Treasury Notes.  In determining whether the Holders of the required principal amount of Notes have concurred in  any direction, waiver or consent, Notes owned by the Company or any Guarantor, or by any Person directly  or indirectly controlling or controlled by or under direct or indirect common control with the Company or  any Guarantor, will be considered as though not outstanding, except that for the purposes of determining  whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that  the Trustee knows are so owned will be so disregarded.  Notwithstanding the foregoing, Notes that are to  be acquired by the Company, a Guarantor or any other Person pursuant to an exchange offer, tender offer  or other agreement shall not be deemed to be owned by such entity until legal title to such Notes passes to  such entity.  Section 2.10 Temporary Notes.  

 

  34      Until certificates representing Notes are ready for delivery, the Company may prepare and the  Trustee, upon receipt of an Authentication Order, will authenticate temporary Notes.  Temporary Notes  will be substantially in the form of certificated Notes but may have variations that the Company considers  appropriate for temporary Notes and as may be reasonably acceptable to the Trustee.  Without unreasonable  delay, the Company will prepare and the Trustee will authenticate definitive Notes in exchange for  temporary Notes.  Holders of temporary Notes will be entitled to all of the benefits of this Indenture.  Section 2.11 Cancellation.  The Company at any time may deliver Notes to the Trustee for cancellation.  The Registrar and  Paying Agent will forward to the Trustee any Notes surrendered to them for registration of transfer,  exchange or payment.  The Trustee and no one else will cancel all Notes surrendered for registration of  transfer, exchange, payment, replacement or cancellation and will dispose of canceled Notes in accordance  with its customary procedures (subject to the record retention requirements of the Exchange Act).   Certification of the disposition of all canceled Notes will be delivered to the Company.  The Company may  not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for  cancellation.  Section 2.12 Defaulted Interest.  If the Company defaults in a payment of interest on the Notes, it will pay the defaulted interest in  any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who  are Holders on a subsequent special record date, in each case at the rate provided in the Notes.  The  Company will notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each  Note and the date of the proposed payment.  The Company will fix or cause to be fixed each such special  record date and payment date; provided that no such special record date may be less than 10 days prior to  the related payment date for such defaulted interest.  At least 15 days before the special record date, the  Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the  Company) will send or cause to be sent to Holders a notice that states the special record date, the related  payment date and the amount of such interest to be paid.  Section 2.13 CUSIP or ISIN Numbers.  The Company in issuing the Notes may use “CUSIP” or “ISIN” numbers (if then generally in use),  and, if so, the Trustee shall use “CUSIP” or “ISIN” numbers in notices of redemption 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 Notes or as contained in any notice of a redemption and that reliance may  be placed only on the other identification numbers printed on the Notes, and any such redemption shall not  be affected by any defect in or omission of such numbers.  The Company will promptly notify the Trustee  in writing of any change in the “CUSIP” or “ISIN” numbers.    ARTICLE 3  REDEMPTION  Section 3.01 Notices to Trustee.  If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section  3.07 hereof, it must furnish to the Trustee, at least 45 days (or shorter period as shall be acceptable to the  Trustee) before a redemption date, an Officer’s Certificate setting forth:  

 

  35      (i) the clause of this Indenture pursuant to which the redemption shall occur;  (ii) the redemption date;  (iii) the principal amount of Notes to be redeemed; and   (iv) the redemption price, if then ascertainable.  and further certifying that all conditions provided for in this Indenture to such redemption have been  complied with.  Section 3.02 Selection of Notes to Be Redeemed.  Any redemption of the Notes or notice of redemption may, at the Company’s discretion, be subject  to one or more conditions precedent, including completion of an Equity Offering or other corporate  transaction.  If any redemption is subject to satisfaction of one or more conditions precedent, any notice in  respect of such redemption shall state that, in the Company’s discretion, the redemption date may be delayed  until such time as any or all such conditions shall be satisfied (or waived by the Company in its sole  discretion), or such redemption may not occur and such notice may be modified or rescinded in the event  that any or all such conditions shall not have been satisfied (or waived by the Company in its sole discretion)  by the redemption date, or by the redemption date so delayed.  In addition, such notice of redemption may  be extended if such conditions precedent have not been met by providing notice to the Holders.  In the event that less than all of the Notes are to be redeemed at any time, selection of the Notes for  redemption will be made by the Trustee in compliance with the requirements of the principal national  securities exchange, if any, on which the Notes are listed or, if the Notes are not then listed on a national  securities exchange, on a pro rata basis, by lot, in accordance with the applicable procedures of DTC or by  such method as the Trustee shall deem fair and appropriate; provided, however, that:  (i) no Notes of a principal amount of $2,000 or less shall be redeemed in part; and  (ii) if a partial redemption is to be made, selection of the Notes or portions thereof for  redemption shall be made by the Trustee only on a pro rata basis or on as nearly a pro rata basis as  is practicable (subject to the applicable procedures of DTC), unless the securities exchange, if any,  on which the Notes are listed requires a different method.  Notice of an optional redemption shall be mailed (or to the extent permitted or required by  applicable DTC procedures or regulations with respect to Global Notes, sent electronically) at least 15 but  not more than 60 days before the redemption date to each Holder to be redeemed at its registered address.   If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the  portion of the principal amount thereof to be redeemed.  A new Note in a principal amount equal to the  unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the  original Note. On and after the redemption date, interest will cease to accrue on Notes or portions thereof  called for redemption as long as the Company has deposited with the Paying Agent funds in satisfaction of  the applicable redemption price plus accrued and unpaid interest, if any, pursuant to this Indenture.  Section 3.03 Notice of Redemption.  At least 15 days but not more than 60 days before a redemption date, the Company will mail or  cause to be mailed, by first class mail (or to the extent permitted or required by applicable DTC procedures  or regulations with respect to Global Notes, send electronically), a notice of redemption to each Holder  

 

  36      whose Notes are to be redeemed at its registered address, except that redemption notices may be mailed or  sent, as applicable, more than 60 days prior to a redemption date if the notice is issued in connection with  a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 11  hereof, as applicable; provided that notices of redemption shall be given to the Depositary in accordance  with the procedures therefor.  The notice will identify the Notes to be redeemed and will state:  (i) the redemption date;  (ii) the redemption price, or if not then ascertainable, the manner of calculation  thereof;  (iii) if any Note is being redeemed in part, the portion of the principal amount of such  Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note  or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of  the original Note;  (iv) the name and address of the Paying Agent;  (v) that Notes called for redemption must be surrendered to the Paying Agent to collect  the redemption price;  (vi) that, unless the Company defaults in making such redemption payment, interest on  Notes called for redemption ceases to accrue on and after the redemption date;  (vii) the paragraph of the Notes and/or Section of this Indenture pursuant to which the  Notes called for redemption are being redeemed;   (viii) the conditions precedent to such redemption, if any; and  (ix) that no representation is made as to the correctness or accuracy of the CUSIP  number, if any, listed in such notice or printed on the Notes.  At the Company’s request, the Trustee will give the notice of redemption in the Company’s name  and at its expense; provided, however, that the Company has delivered to the Trustee, at least 45 days prior  to the redemption date (or such shorter period as is acceptable to the Trustee), an Officer’s Certificate  requesting that the Trustee give such notice and setting forth the information to be stated in such notice as  provided in the preceding paragraph.  A notice of redemption mailed in the manner herein provided shall  be conclusively presumed to have been duly given whether or not a Holder receives such notice.  In any  case, failure to give such notice by mail or electronically, as applicable, or any defect in the notice to the  Holder of any Note shall not affect the validity of the proceeding for the redemption of any other Note.  Section 3.04 Effect of Notice of Redemption.  Once notice of redemption is mailed in accordance with Section 3.03 hereof and the conditions  precedent to such redemption, if any, have been satisfied or waived, Notes called for redemption become  irrevocably due and payable on the redemption date at the redemption price.  Section 3.05 Deposit of Redemption Price.  

 

  37      On or before 10:00 a.m. (New York City time) on each redemption date, the Company will deposit  with the Trustee or with the Paying Agent money sufficient to pay the redemption price (including the  accrued interest payable in connection with such redemption) for all Notes to be redeemed on that date.   The Trustee or the Paying Agent will promptly return to the Company any money deposited with the Trustee  or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price  (including the accrued interest payable in connection with such redemption) for all Notes to be redeemed.  If the Company complies with the provisions of the preceding paragraph, on and after the  redemption date, interest will cease to accrue on the Notes or the portions of Notes called for redemption.   If any Note called for redemption is not so paid upon surrender for redemption because of the failure of the  Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the  redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid  principal, in each case at the rate provided in the Notes.  Section 3.06 Notes Redeemed in Part.  Upon surrender of a Note that is redeemed in part, the Company will issue and, upon receipt of an  Authentication Order, the Trustee will authenticate for the Holder at the expense of the Company a new  Note equal in principal amount to the unredeemed portion of the Note surrendered.  Section 3.07 Optional Redemption.  (a) At any time, or from time to time, on or prior to March 15, 2024, the Company may, at its  option, use all or any portion of the net cash proceeds of one or more Equity Offerings to redeem up to 40%  of the aggregate principal amount of the Notes issued at a redemption price equal to 103.625% of the  principal amount thereof plus accrued and unpaid interest, if any, to, but not including, the date of  redemption (subject to the right of Holders of record on the relevant record date to receive interest due on  the relevant Interest Payment Date); provided that at least 60% of the aggregate principal amount of Notes  issued remains outstanding immediately after any such redemption.  In order to effect the foregoing  redemption with the net cash proceeds of any Equity Offering, the Company shall make such redemption  not more than 180 days after the consummation of any such Equity Offering.  (b) At any time prior to March 15, 2024, the Company may, at its option on one or more  occasions, redeem all or any portion of the Notes upon not less than 15 nor more than 60 days’ notice at a  redemption price equal to 100% of the principal amount of Notes to be redeemed plus the Applicable  Premium as of, and accrued and unpaid interest, if any, thereon to, but not including, the date of redemption  (subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest  Payment Date).  The Company shall give the Trustee notice of the redemption price for any redemption  pursuant to this clause (b) promptly after the calculation thereof and the Trustee shall have no responsibility  for any such calculation.  (c) Except pursuant to the preceding paragraphs, the Notes will not be redeemable at the  Company’s option prior to March 15, 2024.  The Company is not, however, prohibited under this Indenture  from acquiring Notes by means other than redemption, whether pursuant to open-market transactions,  tender offers or otherwise, so long as such transaction does not otherwise violate the terms of this Indenture.  (d) The Company may redeem the Notes in whole at any time or in part from time to time on  and after March 15, 2024, upon not less than 15 nor more than 60 days’ notice, at the following redemption  prices (expressed as percentages of the principal amount of the Notes to be redeemed) if redeemed during  the twelve-month period commencing on March 15 of the years set forth below, plus, in each case, accrued  

 

  38      and unpaid interest, if any, to, but not including, the date of redemption (subject to the right of Holders of  record on the relevant record date to receive interest due on the relevant Interest Payment Date):  Year Percentage  2024 ..........................................................................................................  101.813%  2025 ..........................................................................................................  100.906%  2026 and thereafter ....................................................................................  100.000%    (e) Any redemption pursuant to this Section 3.07 shall be subject to the provisions of Sections  3.01 through 3.06 hereof.  Section 3.08 Mandatory Redemption.  The Company is not required to make mandatory redemption or sinking fund payments with respect  to the Notes.  ARTICLE 4  COVENANTS  Section 4.01 Payment of Notes.  The Company will pay or cause to be paid the principal of, premium, if any, and interest on, the  Notes on the dates and in the manner provided in the Notes.  Principal, premium, if any, and interest, will  be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof,  holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately  available funds and designated for and sufficient to pay all principal, premium, if any, and interest, if any,  then due.    The Company will pay interest (including post-petition interest in any proceeding under any  Bankruptcy Law) on overdue principal at a rate that is 1% higher than the then applicable interest rate on  the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under  any Bankruptcy Law) on overdue installments of interest(without regard to any applicable grace period), at  the same rate to the extent lawful.  Section 4.02 Maintenance of Office or Agency.   The Company will maintain an office or agency (which may be an office of the Trustee or an  affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer  or for exchange and where notices and demands to or upon the Company in respect of the Notes and this  Indenture may be served.  The Company will give prompt written notice to the Trustee of the location, and  any change in the location, of such office or agency.  If at any time the Company fails to maintain any such  required office or agency or fails to furnish the Trustee with the address thereof, such presentations,  surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.  The Company may also from time to time designate one or more other offices or agencies where  the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind  such designations.  The Company will give prompt written notice to the Trustee of any such designation or  rescission and of any change in the location of any such other office or agency.  The Company hereby designates the Corporate Trust Office of the Trustee as one such office or  agency of the Company in accordance with Section 2.03 hereof.   

 

  39      Section 4.03 Reports.  (a) So long as the Notes are outstanding, the Company will file with the Commission, and  provide to the Trustee and the holders of the Notes, the annual reports and the information, documents and  other reports (or copies of such portions of any of the foregoing as the Commission may by rules and  regulations prescribe) that are specified in Sections 13 and 15(d) of the Exchange Act within the time  periods required by law (including any grace period provided by Rule 12b-25 under the Exchange Act);  provided, however, that if the Company is not subject to the reporting requirements of Section 13 or 15(d)  of the Exchange Act, then the time period to file and provide such reports, documents and information shall  be that which is applicable to a non-accelerated filer; provided, further, that availability of the foregoing  materials on the Commission’s EDGAR service (or any successor service thereto) shall be deemed to satisfy  the Company’s delivery obligations under this provision.  In the event that the Company is not permitted  to file such reports, documents and information with the Commission pursuant to the Exchange Act, the  Company will nevertheless provide such Exchange Act information to the Trustee and the holders of the  Notes as if the Company were subject to the reporting requirements of Section 13 or 15(d) of the Exchange  Act within the time periods required by law  (including any grace period provided by Rule 12b-25 under  the Exchange Act) with respect to a non-accelerated filer.  (b) Notwithstanding anything herein to the contrary, the Company will not be deemed to have  failed to comply with any of its obligations under this Section 4.03 for purposes of Section 6.01(iii) until  120 days after the receipt of the written notice delivered thereunder.  (c) To the extent any information is not provided within the time periods specified under this  Section 4.03 and such information is subsequently provided, the Company will be deemed to have satisfied  its obligations with respect thereto at such time and any Default with respect thereto shall be deemed to  have been cured.  (d) The Trustee shall not be charged with constructive knowledge of the contents of the reports  described in this Section 4.03 and delivered to it.  Section 4.04 Compliance Certificate.  (a) The Company and any Guarantor (to the extent that such Guarantor is so required under  the TIA) shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officer’s  Certificate stating, as to each such Officer signing such certificate, that to his or her knowledge the  Company is not in default in the performance or observance of any of the terms, provisions and conditions  of this Indenture  (or, if a Default or Event of Default has occurred, describing all such Defaults or Events  of Default of which he or she may have knowledge and what action the Company is taking or proposes to  take with respect thereto) and that to his or her knowledge no event has occurred and remains in existence  by reason of which payments on account of the principal of, premium, if any, on, or interest on the Notes  is prohibited or if such event has occurred, a description of the event and what action the Company is taking  or proposes to take with respect thereto.   (b) So long as any of the Notes are outstanding, the Company will deliver to the Trustee, within  30 days after any Officer becoming aware of any Default or Event of Default, an Officer’s Certificate  specifying such Default or Event of Default and what action the Company is taking or proposes to take with  respect thereto.   Section 4.05 Taxes.   

 

  40      The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all  material taxes, assessments, and governmental levies except such as are contested in good faith and by  appropriate proceedings or where the failure to effect such payment is not adverse in any material respect  to the Holders of the Notes.    Section 4.06 Stay, Extension and Usury Laws.   Each of the Company and any Guarantor covenants (to the extent that it may lawfully do so) that it  will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage  of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect  the covenants or the performance of this Indenture; and each of the Company and any Guarantor (to the  extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and  covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power  herein granted to the Trustee, but will suffer and permit the execution of every such power as though no  such law has been enacted.    Section 4.07 Limitation on Liens.   (a) The Company will not, and will not cause or permit any of the Domestic Subsidiaries to,  directly or indirectly, create, incur, assume or permit or suffer to exist any Liens of any kind against or  upon any property or assets of the Company or any of the Domestic Subsidiaries, whether now owned or  hereafter acquired, or any proceeds therefrom, or assign or otherwise convey any right to receive income  or profits therefrom, in each case to secure Indebtedness, unless:  (i) in the case of Liens securing Indebtedness that is expressly subordinate or junior  in right of payment to the Notes or a Subsidiary Guarantee, the Notes or such Subsidiary Guarantee  is secured by a Lien on such property, assets or proceeds that is senior in priority to such Liens;  and  (ii) in all other cases, the Notes are equally and ratably secured; except for:  (A) Liens existing as of the Issue Date to the extent and in the manner such  Liens are in effect on the Issue Date;  (B) Liens securing the Notes or any Subsidiary Guarantee;   (C) Liens in favor of the Company or any Subsidiary;  (D) Liens securing Refinancing Indebtedness which is incurred to Refinance  any Indebtedness (including, without limitation, Acquired Indebtedness) which has been  secured by a Lien permitted under the Indenture; provided, however, that such Liens:  (1) are no less favorable to Holders and are not more favorable to the  lienholders in all material respects, taken as a whole, with respect to such Liens  than the Liens in respect of the Indebtedness being Refinanced; and  (2) do not extend to or cover any property or assets of the Company  or any of its Domestic Subsidiaries not securing the Indebtedness so Refinanced;  and  (E) Permitted Liens.  

 

  41      (b) Any Lien created for the benefit of the Holders pursuant to Section 4.07(a) will be  automatically and unconditionally released and discharged upon the release and discharge of the initial  Lien.  Section 4.08 Corporate Existence.   Except for transactions permitted by Article 5 hereof and the consequences of such transactions,  the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect:  (a) its corporate existence, and the corporate, partnership or other existence of each of its  Subsidiaries, in accordance with the respective organizational documents (as the same may be amended  from time to time) of the Company or any such Subsidiary; and   (b) the rights (charter and statutory), licenses and franchises of the Company and its  Subsidiaries; provided, however, that the Company shall not be required to preserve any such right, license  or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the Board of  Directors of the Company shall determine that the preservation thereof is no longer desirable in the conduct  of the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse  in any material respect to the Holders of the Notes.  Section 4.09 Change of Control.   (a) Upon the occurrence of a Change of Control, each Holder will have the right to require  that the Company purchase all or a portion of such Holder’s Notes pursuant to the offer described below  (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof plus  accrued and unpaid interest, if any, thereon to, but not including, the date of purchase.  Notwithstanding  the occurrence of a Change of Control, the Company will not be obligated to repurchase the Notes under  this Section 4.09 if it has exercised its right to redeem all the Notes under the terms of Section 3.07.    (b) Within 30 days following the date upon which the Change of Control occurs, a notice will  be sent, by first class mail (or to the extent permitted or required by applicable DTC procedures or  regulations with respect to Global Notes, sent electronically), to each Holder, with a copy to the Trustee,  which notice shall govern the terms of the Change of Control Offer.  Such notice will state, among other  things, the purchase date, which must be no earlier than 30 days nor later than 60 days from the date such  notice is mailed, other than as may be required by law (the “Change of Control Payment Date”).  Holders  electing to have a note purchased pursuant to a Change of Control Offer will be required to surrender the  note, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to  the Paying Agent at the address specified in the notice prior to the close of business on the third Business  Day prior to the Change of Control Payment Date.  (c) On the Change of Control Payment Date, the Company will, to the extent lawful:  (i) accept for payment all Notes or portions of Notes properly tendered and not validly  withdrawn pursuant to the Change of Control Offer;  (ii) deposit with the Paying Agent an amount equal to the Change of Control Payment  in respect of all Notes or portions of Notes validly tendered and not validly withdrawn; and  (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted for  payment together with an Officer’s Certificate stating the aggregate principal amount of Notes or  portions of Notes being purchased by the Company.  

 

  42      The Paying Agent will promptly mail (but in any case not later than five days after the Change of  Control Payment Date) to each Holder of Notes accepted for payment the Change of Control Payment for  such Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry)  to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered,  if any.  The Company will publicly announce the results of the Change of Control Offer on or as soon as  practicable after the Change of Control Payment Date.  (d) The Company will not be required to make a Change of Control Offer upon a Change of  Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in  compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made  by the Company and purchases all Notes validly tendered and not validly withdrawn under such Change of  Control Offer.  Notwithstanding anything to the contrary contained in this Indenture, a Change of Control  Offer by the Company or a third party may be made in advance of a Change of Control and conditioned  upon the consummation of such Change of Control, if a definitive agreement is in place for the Change of  Control at the time the Change of Control Offer is made.  If Holders of not less than 90% in aggregate  principal amount of the outstanding Notes validly tender and do not validly withdraw such Notes in a  Change of Control Offer or any other tender offer by the Company and the Company, or any third party  making the Change of Control Offer in lieu of the Company as described above or any other such tender  offer in lieu of the Company, purchases all of the Notes validly tendered and not validly withdrawn by such  Holders, the Company will have the right, upon not less than 30 nor more than 60 days’ prior notice, given  not more than 15 days following such purchase pursuant to the Change of Control Offer described above  or such other tender offer, to redeem all Notes that remain outstanding following such purchase at a price  equal to (i) 101% of the principal amount thereof plus accrued but unpaid interest, if any, to, but not  including, the date of redemption, in the case of a Change of Control Offer or (ii) the applicable offer price,  in the case of such other tender offer, as applicable, in each case as set forth in such notice, subject to the  right of Holders of record on the relevant record date to receive interest due on the relevant Interest Payment  Date.  (e) Neither the Board of Directors of the Company nor the Trustee may waive the covenant  set forth in this Section 4.09.  (f) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act  and any other securities laws and regulations thereunder to the extent those laws and regulations are  applicable in connection with the repurchase of the Notes as a result of a Change of Control.  To the extent  that the provisions of any securities laws or regulations conflict with the provisions of this Section 4.09, the  Company will comply with the applicable securities laws and regulations and will not be deemed to have  breached its obligations under this Section 4.09 by virtue of such compliance.  Section 4.10 Issuance of Subsidiary Guarantees.   (a) If, on or after the Issue Date, the Company forms or acquires any Domestic Subsidiary  (other than an Excluded Subsidiary) that incurs or guarantees any Indebtedness under the Credit  Agreement or other Indebtedness in an aggregate principal amount greater than $100.0 million (other than  Indebtedness owing to the Company or a Subsidiary), or if, on or after the Issue Date, any Domestic  Subsidiary (other than an Excluded Subsidiary) that is not a Guarantor incurs or guarantees (a “Guarantee”)  any Indebtedness of the Company or a Guarantor under the Credit Agreement or other Indebtedness in an  aggregate principal amount greater than $100.0 million (other than Indebtedness owing to the Company or  a Subsidiary) (“Guaranteed Indebtedness”), then the Company shall cause such Domestic Subsidiary or  Domestic Subsidiary that is not a Guarantor, as the case may be, to:  

 

  43      (i) execute and deliver to the Trustee a supplemental indenture in the form attached  as Exhibit F hereto pursuant to which such Domestic Subsidiary or Domestic Subsidiary that is not  a Guarantor, as the case may be, shall unconditionally guarantee all of the Company’s obligations  under the Notes and the Indenture on the terms set forth in the Indenture; and  (ii) execute and deliver to the Trustee an opinion of counsel (which may contain  customary exceptions) that such supplemental indenture has been duly authorized, executed and  delivered by such Domestic Subsidiary or Domestic Subsidiary that is not a Guarantor, as the case  may be, and constitutes a legal, valid, binding and enforceable obligation of such Domestic  Subsidiary or Domestic Subsidiary that is not a Guarantor, as the case may be;  provided that this Section 4.10(a) will not be applicable to any Indebtedness of any Domestic Subsidiary  to, or Guarantees of any Domestic Subsidiary given to, a bank or trust company or any commercial banking  institution that is a member of the U.S. Federal Reserve System (or any branch, Subsidiary or affiliate  thereof), in connection with the operation of cash management programs established for its benefit or that  of any other Domestic Subsidiary (“Cash Management Programs”) or to Indebtedness of the type described  in clause (8) or (10) of the definition thereof (or Guarantees of such Indebtedness).  After delivering such supplemental indenture, such Domestic Subsidiary or Domestic Subsidiary  that was not a Guarantor, as the case may be, shall be a Guarantor for all purposes of this Indenture.  The  Company may cause any other Domestic Subsidiary of the Company to issue a Subsidiary Guarantee and  become a Guarantor.  If the Guaranteed Indebtedness is pari passu with the Notes, then the Guarantee of such Guaranteed  Indebtedness shall be pari passu with the Subsidiary Guarantee.  If the Guaranteed Indebtedness is  subordinated to the Notes, then the Guarantee of such Guaranteed Indebtedness shall be subordinated to  the Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is subordinated to the  Notes.  (b) Notwithstanding the foregoing, a Subsidiary Guarantee of the Notes provided by a  Guarantor will be released without any action required on the part of the Trustee or any Holder:  (i) if the obligations of such Guarantor in respect of incurred or Guaranteed  Indebtedness under the Credit Agreement or any other Indebtedness that gave rise to the obligation  to provide such Subsidiary Guarantee are released, unless such Guarantor has any Indebtedness  outstanding under the Credit Agreement or any other Indebtedness in an aggregate principal amount  greater than $100.0 million, other than Indebtedness with respect to Cash Management Programs  or Indebtedness of the type described in clause (8) or (10) of the definition thereof;  (ii) if (a) all of the Capital Stock of, or all or substantially all of the assets of, such  Guarantor is sold or otherwise disposed of (including by way of merger or consolidation) to a  Person other than the Company or any of its Domestic Subsidiaries or (b) such Guarantor ceases to  be a Domestic Subsidiary;  (iii) upon Legal Defeasance or Covenant Defeasance or satisfaction and discharge of  the Indenture as provided below under Articles 8 and 11 hereof, as applicable; or  (iv) upon the Company’s request if the Fair Market Value of the assets of the applicable  Guarantor together with the Fair Market Value of the assets of other Guarantors whose Subsidiary  Guarantee was released in the same calendar year in reliance on this clause (iv), do not exceed  10.0% of the Consolidated Net Tangible Assets of the Company and its Subsidiaries (in each case  

 

  44      as determined in accordance with GAAP) as of the end of the most recent fiscal quarter prior to the  date of determination for which financial information is available (subject to cumulative carryover  for amounts not used in any prior calendar year).  (c) At the Company’s request, the Trustee, upon receipt of satisfactory documentation, will  execute and deliver any instrument evidencing such release.  A Guarantor may also be released from its  obligation under its Subsidiary Guarantee in connection with a permitted amendment pursuant to Section  9.02.  (d) Each Holder and owner of a beneficial interest in the Notes, by its acquisition of the Notes,  is deemed to consent to the terms of the release of Subsidiary Guarantees described in Section 4.10(b)  without the need for any further consent, except for the release of all or substantially all of the Guarantors  from Subsidiary Guarantees to the extent such release would require the consent of each of the noteholders  under Section 9.02(vii).  Each Holder and owner of a beneficial interest in the Notes, by its acquisition of  the notes, consents to and agrees that the Company and the Trustee may release Guarantors in accordance  with this Indenture in reliance on this deemed consent and without any further consent from them.  Each  Holder and owner of a beneficial interest in the Notes, by its acquisition of the Notes, waives any and all  claims against the Trustee and the Company in connection with the release of any Guarantor from the  Indenture.  Additionally, each Holder and owner of a beneficial interest in the Notes, by its acquisition of  the Notes, consents to and agrees that any certification by the Company to the Trustee that any release of  any Guarantors from their Subsidiary Guarantees does not constitute a release of all or substantially all of  the Subsidiary Guarantees requiring the consent of each of the Holders under Section 9.02(vii) shall be  binding on each Holder and owner of a beneficial interest in the Notes.  Section 4.11 Limitation on Sale and Leaseback Transactions.  The Company will not, and will not permit any Domestic Subsidiary to, engage in any Sale and  Leaseback Transaction unless:    (a) the Company or such Domestic Subsidiary would be entitled to incur Indebtedness secured  by a Lien pursuant to the covenant described under Section 4.07 equal in amount to the net proceeds of the  property sold or transferred or to be sold or to be transferred pursuant to such Sale and Leaseback  Transaction and secured by a Lien on the property to be leased, without equally and ratably securing the  notes outstanding under the Indenture as provided under said section; or  (b) the Company or a Domestic Subsidiary shall apply, within 360 days before or after the  effective date of such sale or transfer, an amount equal to such net proceeds to (i) the acquisition,  construction, development or improvement of properties, facilities or equipment which are, or upon such  acquisition, construction, development or improvement will be, a Principal Facility or Principal Facilities  or a part thereof or (ii) the redemption of Notes issued under this Indenture or to the repayment or  redemption of Funded Debt of the Company or of any Subsidiary or Indebtedness of the Company or of  any Subsidiary that was Funded Debt at the time it was created, or in part to such acquisition, construction,  development or improvement and in part to such redemption and/or repayment.  In lieu of applying an  amount equal to such net proceeds to such repayment or redemption, the Company may, within 360 days  after such sale or transfer, deliver to the appropriate indenture trustee or other applicable Person Notes  issued under the Indenture or Funded Debt for cancellation and thereby reduce the amount to be applied to  the redemption of such Notes or Funded Debt by an amount equivalent to the aggregate principal amount  of Notes or Funded Debt.  ARTICLE 5  SUCCESSORS  

 

  45      Section 5.01 Merger, Consolidation and Sale of Assets.  (a) The Company will not, in a single transaction or series of related transactions, consolidate  or merge with or into any Person, or sell, assign, transfer, lease, convey or otherwise dispose of (or cause  or permit any Subsidiary to sell, assign, transfer, lease, convey or otherwise dispose of) all or substantially  all of the Company’s assets (determined on a consolidated basis for the Company and its Subsidiaries)  whether as an entirety or substantially as an entirety to any Person unless:  (i) either:  (A) the Company shall be the surviving or continuing corporation; or   (B) the Person (if other than the Company) formed by such consolidation or  into which the Company is merged or the Person which acquires by sale, assignment,  transfer, lease, conveyance or other disposition the assets of the Company and its  Subsidiaries substantially as an entirety (the “Surviving Entity”), (x) shall be validly  existing under the laws of the United States or any State thereof or the District of Columbia  and (y) shall expressly assume, by supplemental indenture (in form and substance  reasonably satisfactory to the Trustee), executed and delivered to the Trustee, the due and  punctual payment of the principal of, and premium, if any, and interest on all of the notes  and the performance of every covenant of the notes and the Indenture on the part of the  Company to be performed or observed;  (ii) immediately before and immediately after giving effect to such transaction and the  assumption contemplated by Section 5.01(a)(i)(B)(y) above (including, without limitation, giving  effect to any Lien granted or to be released in connection with or in respect of the transaction), no  Default or Event of Default shall have occurred and be continuing; and  (iii) the Company or the Surviving Entity shall have delivered to the Trustee an  Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale,  assignment, transfer, lease, conveyance or other disposition and, if a supplemental indenture is  required in connection with such transaction, such supplemental indenture comply with the  applicable provisions of this Indenture and that all conditions precedent in this Indenture relating  to such transaction have been satisfied.  (b) For purposes of Section 5.01(a), the transfer (by lease, assignment, sale or otherwise, in a  single transaction or series of transactions) of all or substantially all of the assets of one or more  Subsidiaries, the Capital Stock of which constitutes all or substantially all of the assets of the Company,  shall be deemed to be the transfer of all or substantially all of the assets of the Company.  (c) Upon any consolidation or merger or any conveyance, lease or transfer of all or  substantially all of the assets of the Company in accordance with the foregoing in which the Company is  not the continuing corporation, the surviving entity formed by such consolidation or into which the  Company is merged or to which such conveyance, lease or transfer is made shall succeed to, and be  substituted for, and may exercise every right and power of, the Company under the Indenture and the notes  with the same effect as if such surviving entity had been named as such.  (d) No Guarantor (other than any Guarantor whose Subsidiary Guarantee is to be released in  accordance with the terms of the Subsidiary Guarantee and Indenture) will, and the Company will not cause  or permit any Guarantor to, consolidate with or merge with or into any Person other than the Company or  any other Guarantor unless:  

 

  46      (i) the entity formed by or surviving any such consolidation or merger (if other than  the Guarantor) is organized and existing under the laws of the United States or any State thereof or  the District of Columbia;  (ii) such entity shall expressly assume by supplemental indenture (in form and  substance satisfactory to the Trustee), executed and delivered to the Trustee, the performance of  every covenant of the Notes and this Indenture on the part of such Guarantor to be performed or  observed;  (iii) immediately after giving effect to such transaction, no Default or Event of Default  shall have occurred and be continuing; and  (iv) the Company shall have delivered to the Trustee an Officer’s Certificate and  Opinion of Counsel, each stating that such consolidation or merger and, if a supplemental indenture  is required in connection with such transaction, such supplemental indenture comply with the  applicable provisions of this Indenture and that all conditions precedent in this Indenture relating  to such transaction have been satisfied.  ARTICLE 6  DEFAULTS AND REMEDIES  Section 6.01 Events of Default.  Each of the following is an “Event of Default”:  (i) the failure to pay interest on any Notes when the same becomes due and payable  and such default continues for a period of 30 days;  (ii) the failure to pay the principal on any Notes when such principal becomes due and  payable, at maturity, upon redemption or otherwise (including the failure to make a payment to  purchase Notes tendered pursuant to a Change of Control Offer);   (iii) a default by the Company or any Subsidiary in the observance or performance of  any other covenant or agreement contained in this Indenture which default continues for a period  of 60 days after the Company receives written notice specifying the default from the Trustee or the  Holders of at least 25.0% of the outstanding principal amount of the Notes (except in the case of a  default with respect to the covenant described under Section 5.01, which will constitute an Event  of Default with such notice requirement but without such passage of time requirement);  (iv) a default under any mortgage, indenture or instrument under which there may be  issued or by which there may be secured or evidenced any Indebtedness of the Company or of any  Subsidiary (or the payment of which is guaranteed by the Company or any Subsidiary), whether  such Indebtedness now exists or is created after the Issue Date, which default (A) is caused by a  failure to pay principal of such Indebtedness after any applicable grace period provided in such  Indebtedness on the date of such default (a “payment default”) or (B) results in the acceleration of  such Indebtedness prior to its express maturity (and such acceleration is not rescinded, or such  Indebtedness is not repaid, within 30 days) and, in each case, the principal amount of any such  Indebtedness, together with the principal amount of any other such Indebtedness under which there  has been a payment default or the maturity of which has been so accelerated, exceeds $100.0  million or more at any time;  

 

  47      (v) one or more judgments in an aggregate amount in excess of $100.0 million not  covered by adequate insurance (other than self-insurance) shall have been rendered against the  Company or any of its Subsidiaries and such judgments remain undischarged, unpaid or unstayed  for a period of 60 days after such judgment or judgments become final and nonappealable;  (vi) the Company or any Guarantor that is a Significant Subsidiary:  (A) commences a voluntary case,  (B) consents to the entry of an order for relief against it in an involuntary case,  (C) consents to the appointment of a custodian of it or for all or substantially  all of its property,  (D) makes a general assignment for the benefit of its creditors, or  (E) generally is not paying its debts as they become due;  (vii) a court of competent jurisdiction enters an order or decree under any Bankruptcy  Law that:  (A) is for relief against the Company or any Guarantor that is a Significant  Subsidiary in an involuntary case;  (B) appoints a custodian of the Company or any Guarantor that is a Significant  Subsidiary; or  (C) orders the liquidation of the Company or any Guarantor that is a  Significant Subsidiary;  and the order or decree remains unstayed and in effect for 60 consecutive days; or  (viii) any Subsidiary Guarantee of a Significant Subsidiary of the Company ceases to be  in full force and effect or any Subsidiary Guarantee of such a Significant Subsidiary is declared to  be null and void and unenforceable or any Subsidiary Guarantee of such a Significant Subsidiary  is found to be invalid or any Guarantor which is a Significant Subsidiary denies its liability under  its Subsidiary Guarantee (other than by reason of release of such Guarantor in accordance with the  terms of this Indenture).  Section 6.02 Acceleration.  If an Event of Default (other than an Event of Default specified in Section 6.01(vi) or 6.01(vii))  shall have occurred and be continuing and the Trustee has received written notice of such Event of Default  at the Corporate Trust Office of the Trustee, the Trustee or the Holders of at least 25.0% in principal amount  of outstanding Notes may declare the principal of, premium, if any, and accrued interest on all the Notes to  be due and payable by notice in writing to the Company (and to the Trustee if given by the Holders)  specifying the respective Event of Default and that it is a “notice of acceleration.”  Upon any such  declaration, the Notes shall become due and payable immediately.  If an Event of Default specified in  Section 6.01(vi) or 6.01(vii) hereof occurs and is continuing, then all unpaid principal of, premium, if any,  and accrued and unpaid interest on all of the outstanding Notes shall ipso facto become and be immediately  due and payable without any declaration or other act on the part of the Trustee or any Holder.   

 

  48      At any time after a declaration of acceleration or automatic acceleration with respect to the Notes  as described in the preceding paragraph, the Holders of a majority in principal amount of the Notes may  rescind and cancel such declaration or automatic acceleration and its consequences:  (a) if the rescission would not conflict with any judgment or decree;   (b) if all existing Events of Default have been cured or waived except nonpayment of principal  or interest that has become due solely because of the acceleration;  (c) to the extent the payment of such interest is lawful, interest on overdue installments of  interest and overdue principal, which has become due otherwise than by such declaration of acceleration,  has been paid;  (d) if the Company has paid the Trustee its reasonable compensation and reimbursed the  Trustee for its reasonable expenses, disbursements and advances; and  (e) in the event of the cure or waiver of an Event of Default of the type described in Sections  6.01(vi) and 6.01(vii) hereof, the Trustee has received an Officer’s Certificate and an Opinion of Counsel  to the effect that such Event of Default has been cured or waived.  No such rescission shall affect any subsequent Default or Event of Default or impair any right  consequent thereto.    Section 6.03 Other Remedies.  If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to  collect the payment of principal of, premium, if any, on or interest on the Notes or to enforce the  performance of any provision of the Notes or this Indenture.  The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not  produce any of them in the proceeding.  A delay or omission by the Trustee or any Holder of a Note in  exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or  constitute a waiver of or acquiescence in the Event of Default.  All remedies are cumulative to the extent  permitted by law.  Section 6.04 Waiver of Past Defaults.  The Holders of a majority in principal amount of the then outstanding Notes may waive any existing  Default or Event of Default (including in connection with an offer to purchase the Notes), and its  consequences, except a Default in the payment of the principal of, premium, if any, or interest on any Notes.   Upon any such waiver, such Default or Event of Default shall cease to exist, and any Default or Event of  Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture.    Section 6.05 Control by Majority.  Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the  time, method and place of conducting any proceeding for exercising any remedy available to the Trustee or  exercising any trust or power conferred on it.  In connection with any direction from the Holders under this  Section 6.05, the Holders must provide the Trustee indemnity and security satisfactory to the Trustee.   However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that the  

 

  49      Trustee determines may be unduly prejudicial to the rights of other Holders of Notes, or that may involve  the Trustee in personal liability.  Section 6.06 Limitation on Suits.  No Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless:  (i) such Holder has previously given the Trustee written notice that an Event of  Default is continuing;  (ii) Holders of at least 25.0% in aggregate principal amount of the then outstanding  Notes make a written request to the Trustee to pursue the remedy;  (iii) such Holder or Holders offer and, if requested, provide to the Trustee security or  indemnity satisfactory to the Trustee against any loss, liability or expense;  (iv) the Trustee does not comply with such request within 60 days after receipt of the  request and the offer of security and indemnity; and  (v) during such 60-day period, Holders of a majority in aggregate principal amount of  the then outstanding Notes do not give the Trustee a direction inconsistent with such request.  A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a Note  or to obtain a preference or priority over another Holder of a Note.  Section 6.07 Rights of Holders of Notes to Receive Payment.  Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to bring  suit for the enforcement of the right receive payment of principal of, premium, if any, on, or interest on the  Note, on or after the respective due dates expressed or provided for in the Notes (including in connection  with Notes accepted for payment pursuant to an offer to purchase made pursuant to Section 4.09 hereof),  shall not be impaired or affected without the consent of such Holder.  Section 6.08 Collection Suit by Trustee.  If an Event of Default specified in Section 6.01(i) or (ii) hereof occurs and is continuing, the Trustee  is authorized to recover judgment in its own name and as trustee of an express trust against the Company  for the whole amount of principal of, premium, if any, on, and interest remaining unpaid on the Notes and  interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient  to cover the costs and expenses of collection, including the reasonable compensation, expenses,  disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee  under Section 7.07.  Section 6.09 Trustee May File Proofs of Claim.  The Trustee is authorized to file such proofs of claim and other papers or documents as may be  necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable  compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other  amounts due the Trustee under Section 7.07) and the Holders of the Notes allowed in any judicial  proceedings relative to the Company (or any other obligor upon the Notes), its creditors or its property and  shall be entitled and empowered to collect, receive and distribute any money or other property payable or  

 

  50      deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by  each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the  making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the  reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and  any other amounts due the Trustee under Section 7.07 hereof.  To the extent that the payment of any such  compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other  amounts due the Trustee under Section 7.07 hereof out of the estate in any such proceeding, shall be denied  for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all  distributions, dividends, money, securities and other properties that the Holders may be entitled to receive  in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.   Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or  adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting  the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any  Holder in any such proceeding.  Section 6.10 Priorities.  If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the  following order:  First: to the Trustee, its agents and counsel for amounts due under Section 7.07  hereof, including payment of all compensation, expenses and liabilities incurred, and all advances  made under this Indenture, by the Trustee and the costs and expenses of collection;  Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,  premium, if any, and interest ratably, without preference or priority of any kind, according to the  amounts due and payable on the Notes for principal, premium, if any, and interest; and  Third: to the Company or to such other party as a court of competent jurisdiction shall  direct.  The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant  to this Section 6.10.  Section 6.11 Undertaking for Costs.  In any suit for the enforcement of any right or remedy under this Indenture or in any suit against  the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing  by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion  may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit,  having due regard to the merits and good faith of the claims or defenses made by the party litigant.  This  Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07  hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes.  ARTICLE 7  TRUSTEE  Section 7.01 Duties of Trustee.  

 

  51      (a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the  rights and powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as  a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.  (b) Except during the continuance of an Event of Default:  (i) the duties of the Trustee will be determined solely by the express provisions of this  Indenture and the Trustee need perform only those duties that are specifically set forth in this  Indenture and no others, and no implied covenants or obligations shall be read into this Indenture  against the Trustee; and  (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the  truth of the statements and the correctness of the opinions expressed therein, upon certificates or  opinions furnished to the Trustee and conforming to the requirements of this Indenture.  However,  the Trustee shall be under a duty to examine the certificates and opinions specifically required to  be furnished to it under this Indenture to determine whether or not they conform on their face to  the requirements of this Indenture (but need not confirm or investigate the accuracy of  mathematical calculations or other facts or conclusions stated therein).  (c) The Trustee may not be relieved from liabilities for its own negligent action, its own  negligent failure to act, or its own willful misconduct, except that:  (i) this paragraph does not limit the effect of paragraph (b) of this Section 7.01;  (ii) the Trustee will not be liable for any error of judgment made in good faith by a  Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent  facts; and  (iii) the Trustee will not be liable with respect to any action it takes or omits to take in  good faith in accordance with a direction received by it pursuant to Section 6.05 hereof.  (d) Whether or not therein expressly so provided, every provision of this Indenture that in any  way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01.  (e) No provision of this Indenture will require the Trustee to expend or risk its own funds or  incur any liability.  The Trustee will be under no obligation to exercise any of its rights or powers under  this Indenture at the request or direction of any Holders, unless such Holder has offered to the Trustee  security and indemnity satisfactory to it against any loss, liability or expense.  (f) The Trustee will not be liable for interest on any money received by it except as the Trustee  may agree in writing with the Company.  Money held in trust by the Trustee need not be segregated from  other funds except to the extent required by law.  Section 7.02 Rights of Trustee.  (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to  have been signed or presented by the proper Person.  The Trustee need not investigate any fact or matter  stated in the document.  (b) Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or  an Opinion of Counsel or both.  The Trustee will not be liable for any action it takes or omits to take in  

 

  52      good faith in reliance on such Officer’s Certificate or Opinion of Counsel.  The Trustee may consult with  counsel and the written advice of such counsel or any Opinion of Counsel will be full and complete  authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder  in good faith and in reliance thereon.  (c) The Trustee may act through its attorneys and agents and will not be responsible for the  misconduct or negligence of any agent appointed with due care.  (d) The Trustee will not be liable for any action it takes or omits to take, including due to errors  in judgment, in good faith that it believes to be authorized or within the rights or powers conferred upon it  by this Indenture.  (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction or  notice from the Company will be sufficient if signed by an Officer of the Company.  (f) The rights, privileges, protections and benefits given to the Trustee, including, without  limitation, its rights to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of  its capacities hereunder, and to each agent, custodian and other Persons employed to act hereunder.  (g) The Trustee may request that the Company deliver an Officer’s Certificate setting forth the  names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to  this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s  Certificate, including any person specified as so authorized in any such certificate previously delivered and  not superseded.  (h) The Trustee shall not be charged with knowledge of any Default or any Event of Default  unless written notice of such Default or Event of Default shall have been given to a Responsible Officer of  the Trustee by the Company or any other obligor on the Notes, or by any Holder of the Notes.  (i) The permissive right of the Trustee to take or refrain from taking any actions enumerated  in this Indenture shall not be construed as a duty.  (j) The Trustee shall not be liable for special, punitive or consequential damages (including  lost profits).  Section 7.03 Individual Rights of Trustee.  The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and  may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have  if it were not Trustee.  Any Agent may do the same with like rights and duties.  However, in the event that  the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the  Commission for permission to continue as Trustee (if this Indenture has been qualified under the TIA) or  resign.  The Trustee is also subject to Sections 7.10 and 7.11 hereof.  Section 7.04 Trustee’s Disclaimer.  The Trustee will not be responsible for and makes no representation as to the validity or adequacy  of this Indenture or the Notes, it shall not be accountable for the Company’s use of the proceeds from the  Notes or any money paid to the Company or upon the Company’s direction under any provision of this  Indenture, it will not be responsible for the use or application of any money received by any Paying Agent  other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in  

 

  53      the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other  than its certificate of authentication.  Section 7.05 Notice of Defaults.  If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the  Trustee will mail to Holders of Notes a notice of the Default or Event of Default within 120 days after it  occurs.  Except in the case of a Default or Event of Default in payment of principal of, premium, if any, on,  or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its Responsible  Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes.   Section 7.06 Reports by Trustee to Holders of the Notes.  (a) Within 60 days after each March 15 beginning with the March 15 following the date of this  Indenture, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a  brief report dated as of such reporting date that complies with TIA §313(a) (but if no event described in  TIA §313(a) has occurred within the twelve months preceding the reporting date, no report need be  transmitted).  The Trustee also will comply with TIA §313(b)(2).  The Trustee will also transmit by mail  all reports as required by TIA §313(c).  (b) A copy of each report at the time of its mailing to the Holders of Notes will be mailed by  the Trustee to the Company and filed by the Trustee with the Commission and each stock exchange on  which the Notes are listed in accordance with TIA §313(d).  The Company will promptly notify the Trustee  when the Notes are listed on any stock exchange.  Section 7.07 Compensation and Indemnity.  (a) The Company will pay to the Trustee from time to time reasonable compensation for its  acceptance of this Indenture and services hereunder.  The Trustee’s compensation will not be limited by  any law on compensation of a trustee of an express trust.  The Company will reimburse the Trustee promptly  upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to  the compensation for its services.  Such expenses will include the reasonable compensation, disbursements  and expenses of the Trustee’s agents and counsel.  (b) The Company and the Guarantors, jointly and severally, will indemnify the Trustee,  including its officers, directors, stockholders, employees and agents, against any and all losses, liabilities  or expenses incurred by it arising out of or in connection with the acceptance or administration of its powers  and duties under this Indenture, including the costs and expenses of enforcing this Indenture against the  Company and the Guarantors (including this Section 7.07) and defending itself against any claim (whether  asserted by the Company, the Guarantors, any Holder or any other Person) or liability in connection with  the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss,  liability or expense may be attributable to its negligence or willful misconduct.  The Trustee will notify the  Company promptly of any claim for which it may seek indemnity.  Failure by the Trustee to so notify the  Company will not relieve the Company or any of the Guarantors of their obligations hereunder.  The  Company or such Guarantor will defend the claim and the Trustee will cooperate in the defense.  The  Trustee may have separate counsel and the Company will pay the reasonable fees and expenses of one such  counsel.  Neither the Company nor any Guarantor need pay for any settlement made without its consent,  which consent will not be unreasonably withheld.  (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive  the satisfaction and discharge of this Indenture and the resignation or removal of the Trustee.  

 

  54      (d) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07,  the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee,  except that held in trust to pay principal of, premium, if any, on, or interest on particular Notes.  Such Lien  will survive the satisfaction and discharge of this Indenture.  (e) Without prejudice to any other rights available to the Trustee under applicable law, when  the Trustee incurs expenses or renders services after an Event of Default specified in clause (vi) or (vii) of  Section 6.01 hereof occurs, the expenses and the compensation for the services (including the fees and  expenses of its agents and counsel) are intended to constitute expenses of administration under any  Bankruptcy Law.  Section 7.08 Replacement of Trustee.  (a) A resignation or removal of the Trustee and appointment of a successor Trustee will  become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section  7.08.  (b) The Trustee may resign in writing at any time and be discharged from the trust hereby  created by so notifying the Company.  The Holders of a majority in aggregate principal amount of the then  outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing.  The  Company may remove the Trustee if:  (i) the Trustee fails to comply with Section 7.10 hereof;  (ii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered  with respect to the Trustee under any Bankruptcy Law;  (iii) a custodian or public officer takes charge of the Trustee or its property; or  (iv) the Trustee becomes incapable of acting.  (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any  reason, the Company will promptly appoint a successor Trustee.  Within one year after the successor Trustee  takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may  appoint a successor Trustee to replace the successor Trustee appointed by the Company.  (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns  or is removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal  amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment  of a successor Trustee.  (e) If the Trustee, after written request by any Holder who has been a Holder for at least six  months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent  jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.  (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring  Trustee and to the Company.  Thereupon, the resignation or removal of the retiring Trustee will become  effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this  Indenture.  The successor Trustee will mail a notice of its succession to Holders.  The retiring Trustee will  promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums owing to the  Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof.   

 

  55      Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under  Section 7.07 hereof will continue for the benefit of the retiring Trustee.  Section 7.09 Successor Trustee by Merger, etc.  If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its  corporate trust business to, another corporation, the successor corporation without any further act will be  the successor Trustee.  Section 7.10 Eligibility; Disqualification.  There will at all times be a Trustee hereunder that is a corporation organized and doing business  under the laws of the United States of America or of any state thereof that is authorized under such laws to  exercise corporate trust power, that is subject to supervision or examination by federal or state authorities  and that has a combined capital and surplus of at least $100.0 million as set forth in its most recent published  annual report of condition.  This Indenture will always have a Trustee who satisfies the requirements of TIA §310(a)(1), (2)  and (5).  The Trustee is subject to TIA §310(b).  Section 7.11 Preferential Collection of Claims Against Company.  The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §311(b).   A Trustee who has resigned or been removed shall be subject to TIA §311(a) to the extent indicated therein.  Section 7.12 Limitation of Liability.  In no event shall the Trustee, in its capacity as such, Paying Agent or Registrar or in any other  capacity hereunder, be liable under or in connection with this Indenture for indirect, special, incidental,  punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits,  whether or not foreseeable, even if the Trustee has been advised of the possibility thereof and regardless of  the form of action in which such damages are sought.  The Trustee shall not be responsible or liable for any  failure or delay in the performance of its obligations under this Indenture arising out of or caused, directly  or indirectly, by circumstances beyond its reasonable control, including without limitation, acts of God;  earthquake; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots;  interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services;  accidents; labor disputes; and acts of civil or military authority and governmental action.  The provisions  of this Section 7.12 shall survive the satisfaction and discharge or the termination for any reason of this  Indenture and the resignation or removal of the Trustee.   Section 7.13 Electronic Communications  The Trustee shall have the right to accept and act upon instructions, including funds transfer  instructions (“Instructions”) given pursuant to this Indenture and delivered using Electronic Means;  provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers  with the authority to provide such Instructions (“Authorized Officers”) and containing specimen signatures  of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a  person is to be added or deleted from the listing.  If the Company elects to give the Trustee Instructions  using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s  understanding of such Instructions shall be deemed controlling.  The Company understands and agrees that  the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall  

 

  56      conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the  incumbency certificate provided to the Trustee have been sent by such Authorized Officer.  The Company  shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and  that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality  of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the  Company.  The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly  from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions  conflict or are inconsistent with a subsequent written instruction.  The Company agrees: (i) to assume all  risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without  limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse  by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods  of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting  Instructions than the method(s) selected by the Company; (iii) that the security procedures (if any) to be  followed in connection with its transmission of Instructions provide to it a commercially reasonable degree  of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately  upon learning of any compromise or unauthorized use of the security procedures.    ARTICLE 8  LEGAL DEFEASANCE AND COVENANT DEFEASANCE  Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.  The Company may at any time, at its option, as set forth in an Officer’s Certificate, elect to have  either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions  set forth below in this Article 8.  Section 8.02 Legal Defeasance and Discharge.  Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section  8.02, the Company and each Guarantor will, subject to the satisfaction of the conditions set forth in Section  8.04 hereof, be deemed to have been discharged from their obligations with respect to all outstanding Notes  (including the Subsidiary Guarantees) on the date the conditions set forth below are satisfied (hereinafter,  “Legal Defeasance”).  For this purpose, Legal Defeasance means that the Company will be deemed to have  paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Subsidiary  Guarantees), which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.05  hereof and the other Sections of this Indenture referred to in clauses (i) and (ii) below, and to have satisfied  all their other obligations under such Notes, the Subsidiary Guarantees and this Indenture (and the Trustee,  on demand of and at the expense of the Company, shall execute proper instruments acknowledging the  same), except for the following provisions which will survive until otherwise terminated or discharged  hereunder:  (i) the rights of Holders of outstanding Notes to receive payments in respect of the  principal of, or interest or premium on such Notes when such payments are due from the trust  referred to in Section 8.04 hereof;  (ii) the Company’s obligations with respect to the Notes concerning issuing temporary  notes, registration, transfer and exchange of Notes, mutilated, destroyed, lost or stolen Notes and  the maintenance of an office or agency for payment of the Notes and provisions that money for  security payments are to be held in trust;  

 

  57      (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder  including, without limitation, Section 7.07 hereof, and the Company’s obligations in connection  therewith; and  (iv) this Article 8.  Subject to compliance with this Article 8, the Company may exercise its option under this Section  8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.  In the event Legal Defeasance occurs, the events described under Section 6.01 (other than those  relating to payments on the Notes as provided above) will no longer constitute Events of Default with  respect to the Notes.  Section 8.03 Covenant Defeasance.  Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section  8.03, the Company and each Guarantor will, subject to the satisfaction of the conditions set forth in Section  8.04 hereof, be released from each of its obligations under the covenants contained in Sections 4.03 and  4.04 hereof (to the extent such covenants are not expressly required by the TIA) and Sections 4.05, 4.07,  4.08, 4.10 and 4.11 hereof with respect to the outstanding Notes on and after the date the conditions set  forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter  be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of  Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be  deemed “outstanding” for all other purposes hereunder (it being understood that such Notes will not be  deemed outstanding for accounting purposes).  For this purpose, Covenant Defeasance means that, with  respect to the outstanding Notes and Subsidiary Guarantees, the Company may omit to comply with and  will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether  directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any  reference in any such covenant to any other provision herein or in any other document and such omission  to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as  specified above, the remainder of this Indenture and such Notes and Subsidiary Guarantees will be  unaffected thereby.  In addition, upon the Company’s exercise under Section 8.01 hereof of the option  applicable to this Section 8.03, subject to the satisfaction of the conditions set forth in Section 8.04 hereof,  Sections 6.01(iii) (to the extent relating to the covenants that are subject to the Covenant Defeasance), (iv),  (v) and (viii) hereof will not constitute Events of Default.  Section 8.04 Conditions to Legal or Covenant Defeasance.  In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or  8.03 hereof:  (i) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of  the Holders of the Notes, cash in U.S. dollars sufficient, non-callable Government Securities, the  scheduled payments of principal and interest on which will be sufficient, or a combination thereof  sufficient, without consideration of any reinvestment of interest, in the written opinion of a  nationally recognized firm of independent public accountants selected by the Company (which  opinion need only be given if Government Securities have been so deposited), to pay the principal  of, or interest and premium, if any, on the outstanding Notes to the Stated Maturity or to the  applicable redemption date and any and all amounts due and owing under this Indenture, as the  case may be, and the Company must specify whether the Notes are being defeased to maturity or  to a particular redemption date;  

 

  58      (ii) in the case of an election under Section 8.01 hereof applicable to Section 8.02  hereof, the Company must deliver to the Trustee an opinion of U.S. tax counsel reasonably  acceptable to the Trustee confirming that:  (A) the Company has received from, or there has been published by, the U.S.  Internal Revenue Service a ruling; or  (B) since the date of this Indenture, there has been a change in the applicable  U.S. federal income tax law,  in either case to the effect that, and based thereon such opinion of counsel shall confirm that, the  Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal income  tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on  the same amounts, in the same manner and at the same times as would have been the case if such  Legal Defeasance had not occurred;  (iii) in the case of an election under Section 8.01 hereof applicable to Section 8.03  hereof, the Company must deliver to the Trustee an opinion of U.S. tax counsel reasonably  acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize  income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance  and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the  same times as would have been the case if such Covenant Defeasance had not occurred;  (iv) such Legal Defeasance or Covenant Defeasance will not result in a breach or  violation of, or constitute a default under any material agreement or instrument to which the  Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries  is bound (other than this Indenture and any agreements or instruments governing any other  Indebtedness being defeased, discharged or replaced, in each case, resulting from the borrowing of  funds to be applied to such deposit and any similar deposit relating to other Indebtedness and any  grant of any Lien to secure such borrowing);  (v) the Company must deliver to the Trustee an Officer’s Certificate stating that the  deposit was not made by the Company with the intent of preferring the Holders of Notes over the  other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any  creditors of the Company or others; and  (vi) the Company must deliver to the Trustee an Officer’s Certificate and an Opinion  of Counsel, each to the effect that all conditions precedent relating to the Legal Defeasance or the  Covenant Defeasance have been complied with.  In the event of Legal Defeasance or Covenant Defeasance, the Subsidiary Guarantees in effect at  such time shall automatically terminate.    Section 8.05 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous  Provisions.  Subject to Section 8.06 hereof, all money and non-callable Government Securities (including the  proceeds thereof) deposited with the Trustee pursuant to Section 8.04 hereof in respect of the outstanding  Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and  this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting  as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become  

 

  59      due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated  from other funds except to the extent required by law.  The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on  or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04  hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge  which by law is for the account of the Holders of the outstanding Notes.  Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the  Company from time to time upon the request of the Company any money or non-callable Government  Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized  firm of independent public accountants expressed in a written certification thereof delivered to the Trustee  (which may be the opinion delivered under Section 8.04(i) hereof (which opinion need only be given if  Government Securities have been deposited under Section 8.04)), are in excess of the amount thereof that  would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.  Section 8.06 Repayment to Company.  Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust  for the payment of the principal of, premium, if any, on, or interest on any Note and remaining unclaimed  for two years after such principal, premium, if any, or interest, has become due and payable shall be paid  to the Company on its request or (if then held by the Company) will be discharged from such trust; and the  Holder of such Note will thereafter be permitted to look only to the Company for payment thereof, and all  liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the  Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying  Agent, before being required to make any such repayment, may at the expense of the Company cause to be  published once, in the New York Times and The Wall Street Journal (national edition), notice that such  money remains unclaimed and that, after a date specified therein, which will not be less than 30 days nor  more than 60 after the date of such notification or publication, any unclaimed balance of such money then  remaining will be repaid to the Company.  Section 8.07 Reinstatement.  If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government  Securities in accordance with Section 8.05 hereof, as the case may be, by reason of any order or judgment  of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,  then the Company’s obligations under this Indenture and the Notes and the Subsidiary Guarantees will be  revived and reinstated as though no deposit had occurred pursuant to Section 8.04 hereof until such time as  the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.05 hereof;  provided, however, that, if the Company makes any payment of principal of, premium, if any, on, or interest  on any Note following the reinstatement of its obligations, the Company will be subrogated to the rights of  the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent;  provided, further, that neither the failure of the Company or any of its Subsidiaries to have complied with  such revived and reinstated obligations during the period (for purposes of this Section 8.07, the “Suspension  Period”) subsequent to such deposit pursuant to Section 8.04 and prior to such reinstatement and revival,  nor compliance by the Company or any of its Subsidiaries with any contractual obligation entered into in  compliance with this Indenture during the Suspension Period, will constitute a Default, Event of Default or  breach of any kind under this Indenture, the Notes or any Subsidiary Guarantees.  ARTICLE 9  AMENDMENT, SUPPLEMENT AND WAIVER  

 

  60      Section 9.01 Without Consent of Holders of Notes.  Notwithstanding Section 9.02 of this Indenture, without the consent of any Holder of Notes, the  Company, the Guarantors, if any, and the Trustee may amend or supplement this Indenture, the Notes or  the Subsidiary Guarantees, if any:  (i) cure any ambiguity, to correct any mistake, to correct or supplement any provision  in this Indenture that may be defective or inconsistent with any other provision in this Indenture,  or to make other provisions in regard to matters or questions arising under this Indenture;  (ii) to make any change that would provide any additional rights or benefits to the  Holders or that does not adversely affect in any material respect the legal rights under this Indenture  of any such Holder;  (iii) to add covenants for the benefit of the Holders or to surrender any right or power  conferred upon the Company or any Guarantor;  (iv) providing for the assumption by a successor Person of the obligations of the  Company or any Guarantor under this Indenture;  (v) to comply with the covenant described under Section 5.01;  (vi) adding any Guarantor or a corporate co-issuer under this Indenture; provided that  any such amendment and/or Guarantee need only be executed by the new Guarantor or corporate  co-issuer, as applicable, and the Company;  (vii) to comply with requirements of the Commission in order to effect or maintain the  qualification of this Indenture under the TIA;   (viii) to provide for the issuance of Additional Notes in accordance with the limitations  set forth in this Indenture;  (ix) to evidence and provide for the acceptance and appointment under this Indenture  of a successor Trustee thereunder pursuant to the requirements thereof;  (x) to conform the text of this Indenture or the Notes to any provision of the  “Description of Notes” section of the Offering Memorandum;  (xi) to comply with the Applicable Procedures;   (xii) to make any amendment to the provisions of this Indenture relating to the transfer  and legending of Notes as permitted by this Indenture, including, without limitation, to facilitate  the issuance and administration of the Notes; and  (xiii) to mortgage, pledge, hypothecate or grant any other Lien in favor of the Trustee  for the benefit of the Holders, as security for the payment and performance of all or any portion of  the Notes, in any property or assets.  Upon the request of the Company and upon receipt by the Trustee of the documents described in  Sections 7.02, 9.05, 12.04 and 12.05 hereof, the Trustee will join with the Company and the Guarantors, if  any, in the execution of any amendment or supplement authorized or permitted by the terms of this  

 

  61      Indenture and to make any further appropriate agreements and stipulations that may be therein contained,  but the Trustee will not be obligated to enter into such amendment or supplement that adversely affects its  own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its  discretion, but will not be obligated to, enter into such amendment or supplement.  Section 9.02 With Consent of Holders of Notes.  Except as provided below in this Section 9.02, the Company, the Guarantors and the Trustee may  amend or supplement this Indenture (including, without limitation, Section 4.09 hereof), the Notes or the  Subsidiary Guarantees, if any, with the consent of the Holders of at least a majority in aggregate principal  amount of the then outstanding Notes (including, without limitation, Additional Notes, if any) voting as a  single class (including, without limitation, consents obtained in connection with a tender offer or exchange  offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or  Event of Default (other than a Default or Event of Default in the payment of the principal of, premium, if  any, on, or interest on the Notes, except a payment default resulting from an acceleration that has been  rescinded) or compliance with any provision of this Indenture or the Notes or the Subsidiary Guarantees  may be waived with the consent of the Holders of a majority in aggregate principal amount of the then  outstanding Notes (including, without limitation, Additional Notes, if any) voting as a single class  (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or  purchase of, the Notes).   Upon the request of the Company and upon the filing with the Trustee of evidence satisfactory to  the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the  documents described in Sections 7.02, 9.05, 12.04 and 12.05 hereof, the Trustee will join with the Company  and the Guarantors in the execution of such amendment or supplement unless such amendment or  supplement adversely affects the Trustee’s own rights, duties or immunities under this Indenture or  otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such  amendment or supplement.  It is not necessary for the consent of the Holders of Notes under this Section 9.02 to approve the  particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent  approves the substance thereof.  After an amendment, supplement or waiver under this Section 9.02 becomes effective, the  Company will mail (or to the extent permitted or required by applicable DTC procedures or regulations  with respect to Global Notes, send electronically) to the Holders of Notes affected thereby a notice briefly  describing the amendment, supplement or waiver.  Any failure of the Company to mail such notice, or any  defect therein, will not, however, in any way impair or affect the validity of any such amendment or  supplement or waiver.  However, without the consent of each Holder affected, an amendment, supplement  or waiver under this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):  (i) reduce the amount of Notes whose Holders must consent to an amendment,  supplement or waiver;  (ii) reduce the rate of or extend the time for payment of interest, including defaulted  interest, on any Notes;  (iii) reduce the principal of or change or have the effect of changing the fixed maturity  of any Notes, or change the date on which any Notes may be subject to redemption, or reduce the  redemption price therefor;  

 

  62      (iv) make any Notes payable in money other than that stated in the Notes;  (v) at any time after a Change of Control has occurred, amend, change or modify the  obligation of the Company to make and consummate a Change of Control Offer in relation to such  Change of Control in accordance with Section 4.09 hereof, including amending, changing or  modifying any definition relating thereto;  (vi) make any change in provisions of this Indenture protecting the right of each Holder  of a Note to bring suit to enforce the payment of principal of, premium, if any, and interest on such  Note on or after the due date thereof, or permitting Holders of a majority in principal amount of the  then outstanding Notes to waive Defaults or Events of Default (other than Defaults or Events of  Default with respect to the payment of principal of or interest on the Notes); or  (vii) release all or substantially all of the Guarantors from any of their obligations under  the Subsidiary Guarantee or this Indenture other than in accordance with the terms of this Indenture.  Section 9.03 Revocation and Effect of Consents.  Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note  is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note  that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made  on any Note.  However, except to the extent that the consent is by its express terms irrevocable, any such  Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee  receives written notice of revocation before the date the amendment, supplement or waiver becomes  effective.  An amendment, supplement or waiver becomes effective in accordance with its terms and  thereafter binds every Holder.  Section 9.04 Notation on or Exchange of Notes.  The Trustee may place an appropriate notation about an amendment, supplement or waiver on any  Note thereafter authenticated.  The Company in exchange for all Notes may issue and the Trustee shall,  upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement  or waiver.  Failure to make the appropriate notation or issue a new Note will not affect the validity and effect  of such amendment, supplement or waiver.  Section 9.05 Trustee to Sign Amendments, etc.  The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9  if the amendment or supplement does not adversely affect the rights, duties or immunities of the Trustee.   In executing any amended or supplemental indenture, the Trustee will be entitled to receive and (subject to  Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section  12.04 hereof, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended  or supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture  constitutes the legal, valid and binding obligation of the Company and, to the extent applicable, the  Guarantors (subject to customary exceptions).  ARTICLE 10  SUBSIDIARY GUARANTEES  

 

  63      Section 10.01 Guarantee.  (a) Subject to this Article 10, each party to become a Guarantor hereby, will jointly and  severally, unconditionally Guarantee to each Holder of a Note authenticated and delivered by the Trustee  and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this  Indenture, the Notes or the obligations of the Company hereunder or thereunder, that:  (i) the principal of, premium, if any, on, and interest on the Notes will be promptly  paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest  on the overdue principal of, premium, if any, on, and interest on the Notes, if lawful, and all other  obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly  paid in full or performed, all in accordance with the terms hereof and thereof; and   (ii) in case of any extension of time of payment or performance or renewal of any  Notes or any of such other obligations, that same will be promptly paid in full when due or  performed in accordance with the terms of the extension or renewal, whether at stated maturity, by  acceleration or otherwise.  Failing payment when due of any amount so guaranteed or any performance so guaranteed for  whatever reason, the Guarantors will be jointly and severally obligated to pay or perform or cause the  payment or performance of the same immediately.  Each Guarantor agrees that this is a Guarantee of  payment and not a Guarantee of collection.  (b) The Guarantors hereby agree that their obligations hereunder are unconditional,  irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any  action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions  hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or  any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a  Guarantor.  Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims  with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding  first against the Company, protest, notice and all demands whatsoever and covenant that this Subsidiary  Guarantee will not be discharged except by complete performance of the obligations contained in the Notes  and this Indenture.  (c) If any Holder or the Trustee is required by any court or otherwise to return to the Company,  the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the  Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Subsidiary  Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect.  (d) Each Guarantor agrees that it will not be entitled to any right of subrogation in relation to  the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations  guaranteed hereby.  Each Guarantor further agrees that, as between the Guarantors, on the one hand, and  the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may  be accelerated as provided in Article 6 hereof for the purposes of this Subsidiary Guarantee,  notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the  obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as  provided in Article 6 hereof, such obligations (whether or not due and payable) will forthwith become due  and payable by the Guarantors for the purpose of this Subsidiary Guarantee.  The Guarantors will have the  right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not  impair the rights of the Holders under the Subsidiary Guarantee.  

 

  64      Section 10.02 Limitation on Guarantor Liability.  Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention  of all such parties that the Subsidiary Guarantee of such Guarantor not constitute a fraudulent transfer or  conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform  Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Subsidiary  Guarantee.  To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby  irrevocably agree that the obligations of such Guarantor will be limited to the maximum amount that will,  after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor  that are relevant under such laws, and after giving effect to any collections from, rights to receive  contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of  such other Guarantor under this Article 10, result in the obligations of such Guarantor under its Subsidiary  Guarantee not constituting a fraudulent transfer or conveyance.  Section 10.03 Execution and Delivery of Subsidiary Guarantee.  To evidence its Subsidiary Guarantee set forth in Section 10.01 hereof, each Guarantor hereby  agrees that a notation of such Subsidiary Guarantee substantially in the form attached as Exhibit E hereto  will be endorsed by an Officer of such Guarantor on each Note authenticated and delivered by the Trustee  and that this Indenture will be executed on behalf of such Guarantor by one of its Officers.  Each Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section 10.01 hereof will  remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such  Subsidiary Guarantee.  If an Officer whose signature is on this Indenture or on the Subsidiary Guarantee no longer holds  that office at the time the Trustee authenticates the Note on which a Subsidiary Guarantee is endorsed, the  Subsidiary Guarantee will be valid nevertheless.  The delivery of any Note by the Trustee, after the authentication thereof hereunder, will constitute  due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of the Guarantors.  In the event that the Company or any of its Subsidiaries creates or acquires any Domestic Subsidiary  after the date of this Indenture, if required by Section 4.10 hereof, the Company will cause such Domestic  Subsidiary to comply with the provisions of Section 4.10 hereof and this Article 10, to the extent applicable.  ARTICLE 11  SATISFACTION AND DISCHARGE  Section 11.01 Satisfaction and Discharge.  This Indenture will be satisfied and discharged and will cease to be of further effect as to all Notes  issued hereunder, when:  (i) either:  (A) all Notes that have been authenticated, except lost, stolen or destroyed  Notes that have been replaced or paid and Notes for whose payment money has theretofore  been deposited in trust or segregated and held in trust by the Company and thereafter repaid  to the Company or discharged from such trust, have been delivered to the Trustee for  cancellation; or  

 

  65      (B) all Notes that have not been delivered to the Trustee for cancellation,  except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose  payment money has theretofore been deposited in trust or segregated and held in trust by  the Company and thereafter repaid to the Company or discharged from such trust, have  become due and payable or will become due and payable within one year by reason of the  giving of a notice of redemption or otherwise or are to be called for redemption within one  year under arrangements satisfactory to the Trustee for the giving of notice of redemption  in the name, and at the expense of the Company and the Company has irrevocably  deposited or caused to be deposited with the Trustee as trust funds in trust solely for the  benefit of the Holders, cash in U.S. dollars sufficient, non-callable Government Securities,  the scheduled payments of principal of and interest on which will be sufficient, or a  combination thereof, sufficient without consideration of any reinvestment of interest, in the  written opinion of a nationally recognized firm of independent public accountants delivered  to the Trustee (which opinion need only be given if Government Securities have been so  deposited), to pay and discharge the entire indebtedness on such Notes for principal,  premium, if any, and accrued interest to the date of maturity or redemption;  (ii) the Company has paid or caused to be paid all fees, costs, charges and expenses  payable by it under this Indenture, including amounts owing to the Trustee (and its agents and  counsel);   (iii) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion  of Counsel stating that all conditions precedent under this Indenture relating to the satisfaction and  discharge of this Indenture have been complied with;   (iv) in the case of a redemption, the Company has delivered irrevocable instructions to  the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at  redemption; and  (v) no Event of Default shall occur as a result of such deposit (other than an Event of  Default resulting from the borrowing of funds to be applied to such deposit and any similar deposit  relating to other Indebtedness and the grant of any Lien to secure such borrowing) and such deposit  will not result in a breach or violation of, or constitute a default under, any material instrument to  which the Company is a party or by which the Company is bound (other than the Indenture and the  agreements or instruments governing any other Indebtedness being defeased, discharged or  replaced).  In addition, the Company must deliver an Officer’s Certificate and an Opinion of Counsel to the  Trustee to the effect that all conditions precedent to satisfaction and discharge have been satisfied.  Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with  the Trustee pursuant to subclause (B) of clause (i) of this Section 11.01, the provisions of Sections 11.02  and 8.06 hereof will survive.  In addition, the provisions of Section 7.07 hereof, shall survive the satisfaction  and discharge of this Indenture.  Section 11.02 Application of Trust Money; Other Miscellaneous Provisions.  Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to  Section 11.01 hereof shall be held in trust and applied by it, in accordance with the provisions of the Notes  and this Indenture, to the payment, either directly or through any Paying Agent (including the Company  acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the  

 

  66      principal, premium, if any, and interest, for whose payment such money has been deposited with the  Trustee; but such money need not be segregated from other funds except to the extent required by law.  If the Trustee or Paying Agent is unable to apply any money or Government Securities in  accordance with Section 11.01 hereof by reason of any legal proceeding or by reason of any order or  judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such  application, the Company’s and any Guarantor’s obligations under this Indenture and the Notes shall be  revived and reinstated as though no deposit had occurred pursuant to Section 11.01 hereof; provided that if  the Company has made any payment of principal of, premium, if any, on, or interest on any Notes because  of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such  Notes to receive such payment from the money or Government Securities held by the Trustee or Paying  Agent; provided, further, that neither the failure of the Company or any of its Subsidiaries to have complied  with such revived and reinstated obligations during the period (for purposes of this Section 8.07, the  “Suspension Period”) subsequent to such deposit pursuant to Section 11.01 hereof and prior to such  reinstatement and revival, nor compliance by the Company or any of its Subsidiaries with any contractual  obligation entered into in compliance with this Indenture during the Suspension Period, will constitute a  Default, Event of Default or breach of any kind under this Indenture, the Notes or any Subsidiary  Guarantees.  The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on  or assessed against the cash or non-callable Government Securities deposited pursuant to Section 11.01  hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge  which by law is for the account of the Holders of the outstanding Notes.  Notwithstanding anything in this Article 11 to the contrary, the Trustee will deliver or pay to the  Company from time to time upon the request of the Company any money or non-callable Government  Securities held by it as provided in Section 11.01 hereof which, in the opinion of a nationally recognized  firm of independent public accountants expressed in a written certification thereof delivered to the Trustee  (which may be the opinion delivered under Section 11.01 hereof (which opinion need only be given if  Government Securities have been deposited under Section 11.01)), are in excess of the amount thereof that  would then be required to be deposited to effect an equivalent satisfaction and discharge of this Indenture.  ARTICLE 12  MISCELLANEOUS  Section 12.01 [Reserved].  Section 12.02 Notices.  Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly  given if in writing and delivered in Person or by first class mail (registered or certified, return receipt  requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’  address:  If to the Company and/or any Guarantor:  Louisiana-Pacific Corporation  414 Union Street, Suite 2000  

 

  67      Nashville, Tennessee 37219  Facsimile No.:  (615) 986-5880  Attention:  Bob Hopkins    With a copy to:  Bass, Berry & Sims PLC   150 Third Avenue South, Suite 2800  Nashville, TN 37201  Facsimile No.:  (615) 742-0426  Attention:  Tatjana Paterno    If to the Trustee:  The Bank of New York Mellon Trust Company, N.A.  BNY Mellon Corporate Trust  500 Ross Street, 12th Floor  Pittsburgh, PA 15262  Facsimile No.:  412-234-8377  Attention: US Corporate Client Service Management    The Company, any Guarantor or the Trustee, by notice to the others, may designate additional or  different addresses for subsequent notices or communications.  The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent  by e-mail, telecopier or other similar electronic methods; provided, however, that (a) the party providing  such electronic instructions or directions, subsequent to the transmission thereof, shall, if requested by the  Trustee, provide originally executed instructions or directions to the Trustee in a timely manner and (b)  such originally executed instructions or directions shall be signed by an authorized representative of the  party providing such instructions or directions.  The Trustee shall not be liable for any losses, costs or  expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such  instructions or directions notwithstanding such instructions or directions conflict or are inconsistent with a  subsequent written instruction or direction or if the subsequent written instruction or direction is never  received.  The party providing instructions or directions by e-mail, telecopier or other similar electronic  methods, as aforesaid, agrees to assume all risks arising out of the use of such electronic methods to submit  instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on  unauthorized instructions, and the risk of interception and misuse by third parties.  All notices and communications (other than those sent to Holders) will be deemed to have been  duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited  in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by email, telecopier or  other similar electronic methods; and the next Business Day after timely delivery to the courier, if sent by  overnight air courier guaranteeing next day delivery.  Any notice or communication to a Holder will be mailed by first class mail, or by overnight air  courier guaranteeing next day delivery to its address shown on the register kept by the Registrar (or to the  extent permitted or required by applicable DTC procedures or regulations with respect to Global Notes,  sent electronically); provided that notices to the Depositary shall be given in accordance with its procedures  

 

  68      therefor.  Failure to mail or send, as applicable, notice or communication to a Holder or any defect in it will  not affect its sufficiency with respect to other Holders.  In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor  any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with  respect to other Holders.  Where this Indenture provides for notice in any manner, such notice may be  waived in writing by the Person entitled to receive such notice, either before or after the event, and such  waiver shall be the equivalent of such notice.  Waivers of notice by Holders shall be filed with the Trustee,  but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such  waiver.  If a notice or communication is mailed in the manner provided above within the time prescribed, it  is duly given, whether or not the addressee receives it.  If the Company mails a notice or communication to Holders, it will mail a copy to the Trustee and  each Agent at the same time.  Section 12.03 Communication by Holders of Notes with Other Holders of Notes.  Any Holder may communicate pursuant to TIA §312(b) with other Holders with respect to their  rights under this Indenture or the Notes.  The Company, the Trustee, the Registrar and anyone else shall  have the protection of TIA §312(c).  Section 12.04 Certificate and Opinion as to Conditions Precedent.  Upon any request or application by the Company to the Trustee to take any action under this  Indenture (other than in connection with the initial issuance of the Notes hereunder), the Company shall  furnish to the Trustee:  (i) an Officer’s Certificate in form reasonably satisfactory to the Trustee (which must  include the statements set forth in Section 12.05 hereof) stating that, in the opinion of the signers,  all conditions precedent and covenants, if any, provided for in this Indenture relating to the  proposed action have been satisfied; and  (ii) an Opinion of Counsel in form reasonably satisfactory to the Trustee (which must  include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such counsel,  all such conditions precedent and covenants have been satisfied.  Section 12.05 Statements Required in Certificate or Opinion.  Each certificate or opinion with respect to compliance with a condition or covenant provided for in  this Indenture must include:  (i) a statement that the Person making such certificate or opinion has read such  covenant or condition;  (ii) a brief statement as to the nature and scope of the examination or investigation  upon which the statements or opinions contained in such certificate or opinion are based;  

 

  69      (iii) a statement that, in the opinion of such Person, he or she has made such  examination or investigation as is necessary to enable him or her to express an informed opinion  as to whether or not such covenant or condition has been satisfied; and  (iv) a statement as to whether or not, in the opinion of such Person, such condition or  covenant has been satisfied.  Section 12.06 Rules by Trustee and Agents.  The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its  functions.  Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders.  No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as  such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this  Indenture, the Subsidiary Guarantees, or for any claim based on, in respect of, or by reason of, such  obligations or their creation.  Each Holder of Notes by accepting a Note waives and releases all such  liability.  The waiver and release are part of the consideration for issuance of the Notes.  The waiver may  not be effective to waive liabilities under the federal securities laws.  Section 12.08 Governing Law.  THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO  CONSTRUE THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES WITHOUT  GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT  THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED  THEREBY.  EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE  FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY  JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS  INDENTURE, THE NOTES, THE SUBSIDIARY GUARANTEES OR THE TRANSACTIONS  CONTEMPLATED HEREBY.  Section 12.09 No Adverse Interpretation of Other Agreements.  This Indenture may not be used to interpret any other Indenture, loan or debt agreement of the  Company or its Subsidiaries or of any other Person.  Any such Indenture, loan or debt agreement may not  be used to interpret this Indenture.  Section 12.10 Successors.  All agreements of the Company in this Indenture and the Notes will bind its successors.  All  agreements of the Trustee in this Indenture will bind its successors.  All agreements of each Guarantor in  this Indenture will bind its successors, except as otherwise provided in Section 4.10 hereof.  Section 12.11 Severability.  In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the  validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired  thereby.  

 

  70      Section 12.12 Counterpart Originals.  The parties may sign any number of copies of this Indenture.  Each signed copy will be an original,  but all of them together represent the same agreement.  Section 12.13 Table of Contents, Headings, etc.  The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this  Indenture have been inserted for convenience of reference only, are not to be considered a part of this  Indenture and will in no way modify or restrict any of the terms or provisions hereof.  Section 12.14 Acts of Holders.  (a) Any request, demand, authorization, direction, notice, consent, waiver or other action  provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one (1)  or more instruments (including instruments in facsimile, digital or other electronic form) of substantially  similar tenor signed (including signatures in facsimile, digital or other electronic form) by such Holders in  person or by agent duly appointed in writing (including signatures in facsimile, digital or other electronic  form); and, except as herein otherwise expressly provided, such action shall become effective when such  instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the  Company.  Such instrument or instruments (and the action embodied therein and evidenced thereby) are  herein sometimes referred to as the “Act” of 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 Indenture and conclusive in favor of the Trustee and the Company, if made in the manner  provided in this Section 12.14.  (b) The fact and date of the execution by any Person of any such instrument or writing may be  proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer  authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument  or writing acknowledged to such officer the execution thereof.  Where such execution is by a signer acting  in a capacity other than such signer’s individual capacity, such certificate or affidavit shall also constitute  sufficient proof of such signer’s 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  the Trustee deems sufficient.  (c) The ownership of Notes shall be proved by the Note register maintained under Section 2.03  hereunder.  (d) Any request, demand, authorization, direction, notice, consent, waiver or other Act of the  Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued  upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything  done, omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not  notation of such action is made upon such Note.  (e) If the Company shall solicit from the Holders any request, demand, authorization,  direction, notice, consent, waiver or other Act, the Company may, at its option, fix in advance a record date  for the determination of Holders entitled to give such request, demand, authorization, direction, notice,  consent, waiver or other Act, but the Company shall have no obligation to do so.  If such a record date is  fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given  before or after such record date, but only the Holders of record at the close of business on such record date  shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion  

 

  71      of outstanding Notes have authorized or agreed or consented to such request, demand, authorization,  direction, notice, consent, waiver or other Act, and for that purpose the outstanding Notes shall be computed  as of such record date; provided that no such request, demand, authorization, direction, notice, consent or  waiver by the Holders on such record date shall be deemed effective unless it shall become effective  (pursuant to the provisions of this Indenture, to the extent applicable) not later than six (6) months after the  record date.  [Signatures on following page]  

 

    SIGNATURES  Dated as of March 11, 2021  Louisiana-Pacific Corporation  By: /s/ Alan J.M. Haughie                             Name: Alan J.M. Haughie  Title:   Executive Vice President and Chief Financial               Officer    The Bank of New York Mellon Trust Company, N.A.,  Trustee  By: /s/ Lawrence M. Kusch  Name: Lawrence M. Kusch  Title:   Vice President    

 

     A-1      [Face of Note]    CUSIP/CINS ____________  3.625% Senior Note due 2029  No. ___ $____________  LOUISIANA-PACIFIC CORPORATION  promises to pay to                or registered assigns,   the principal sum of __________________________________________________________ DOLLARS   [or such other principal amount as shall be set forth in the Schedule of Exchanges of Interests in the Global  Note attached hereto]*1on March 15, 2029.  Interest Payment Dates:  March 15 and September 15  Record Dates:  March 1 and September 1    1 *Insert in Global Notes only  

 

  A-2      Dated:  ______________  LOUISIANA-PACIFIC CORPORATION      By:     Name:     Title:   This is one of the Notes referred to  in the within-mentioned Indenture:    THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.    as Trustee      By:       Authorized Signatory       

 

  A-3      [Back of Note]  3.625% Senior Note due 2029  [Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture]  [Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]  Capitalized terms used herein have the meanings assigned to them in the Indenture referred to  below unless otherwise indicated.  (1) INTEREST.  Louisiana-Pacific Corporation, a Delaware corporation (the  “Company”), promises to pay or cause to be paid interest on the principal amount of this Note at the  rate of 3.625% per annum from March 11, 2021 until maturity.  The Company will pay interest semi- annually in arrears on March 15 and September 15 of each year (each an “Interest Payment Date”),  or if any such day is not a Business Day, on the next succeeding Business Day.  Interest on the Notes  will accrue from the most recent Interest Payment Date to which interest has been paid or duly  provided for or, if no interest has been paid or duly provided for, from the date of original issuance;  provided that, if this Note is authenticated between a record date referred to on the face hereof and  the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest  Payment Date; provided, further, that the first Interest Payment Date shall be September 15, 2021.  The Company will pay interest (including post-petition interest in any proceeding under any  Bankruptcy Law) on overdue principal at a rate that is 1% higher than the then applicable interest  rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any  proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any  applicable grace period), at the same rate to the extent lawful.    Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months.  (2) METHOD OF PAYMENT.  The Company will pay interest on the Notes (except  defaulted interest) to the Persons who are registered Holders of Notes at the close of business on the  March 1 or September 1 (whether or not a Business Day) next preceding the Interest Payment Date,  even if such Notes are canceled after such record date and on or before such Interest Payment Date,  except as provided in Section 2.12 of the Indenture with respect to defaulted interest.  The Notes will  be payable as to principal, premium, if any, and interest, at the office or agency of the Paying Agent  and Registrar, or, at the option of the Company, payment of interest may be made by check mailed  to the Holders at their addresses set forth in the register of Holders; provided that payment by wire  transfer of immediately available funds will be required with respect to principal of, premium, if any,  on, and interest on all Global Notes and all other Notes the Holders of which will have provided wire  transfer instructions to the Paying Agent at least ten days prior to the applicable payment date;  provided that no payment of principal of or premium, if any, on this Note may be made unless such  Note is surrendered to the Paying Agent for payment.  Such payment will be in such coin or currency  of the United States of America as at the time of payment is legal tender for payment of public and  private debts.  (3) PAYING AGENT AND REGISTRAR.  Initially, The Bank of New York Mellon Trust  Company, N.A., the Trustee under the Indenture, will act as Paying Agent and Registrar.  The  Company may change the Paying Agent or Registrar without prior notice to the Holders of the Notes.   The Company or any of its Subsidiaries may act as Paying Agent or Registrar.  (4) INDENTURE.  The Company issued the Notes under an Indenture dated as of March  11, 2021 (the “Indenture”) between the Company and the Trustee.  The terms of the Notes include  

 

  A-4      those stated in the Indenture.  The Notes are subject to all such terms, and Holders are referred to the  Indenture for a statement of such terms.  To the extent any provision of this Note conflicts with the  express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling.   The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.  (5) OPTIONAL REDEMPTION.  (A) At any time, or from time to time, on or prior to March 15, 2024, the  Company may, at its option, use all or any portion of the net cash proceeds of one or more Equity  Offerings to redeem up to 40% of the aggregate principal amount of the Notes issued at a  redemption price equal to 103.625% of the principal amount thereof plus accrued and unpaid  interest, if any, to, but not including, the date of redemption (subject to the right of Holders of  record on the relevant record date to receive interest due on the relevant Interest Payment Date);  provided that at least 60% of the aggregate principal amount of Notes issued remains outstanding  immediately after any such redemption.  In order to effect the foregoing redemption with the net  cash proceeds of any Equity Offering, the Company shall make such redemption not more than 180  days after the consummation of any such Equity Offering.  (B) At any time prior to March 15, 2024, the Company may, at its option on  one or more occasions, redeem all or any portion of the Notes upon not less than 15 nor more than  60 days’ notice at a redemption price equal to 100% of the principal amount of Notes to be  redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, thereon to,  but not including, the date of redemption (subject to the rights of Holders on the relevant record  date to receive interest due on the relevant Interest Payment Date).  The Company shall give the  Trustee notice of the redemption price for any redemption pursuant to this clause (B) promptly after  the calculation thereof and the Trustee shall have no responsibility for any such calculation.  (C) Except pursuant to the preceding paragraphs, the Notes will not be  redeemable at the Company’s option prior to March 15, 2024.  (D) The Company may redeem the Notes in whole at any time or in part from  time to time on and after March 15, 2024, upon not less than 15 nor more than 60 days’ notice, at  the following redemption prices (expressed as percentages of the principal amount of the Notes to  be redeemed) if redeemed during the twelve-month period commencing on March 15 of the years  set forth below, plus, in each case, accrued and unpaid interest, if any, to, but not including, the  date of redemption (subject to the right of Holders of record on the relevant record date to receive  interest due on the relevant Interest Payment Date):  Year Percentage  2024 ..........................................................................................................  101.813%  2025 ..........................................................................................................  100.906%  2026 and thereafter ....................................................................................  100.000%    Unless the Company defaults in the payment of the redemption price, interest will cease to accrue  on the Notes or portions thereof called for redemption on the applicable redemption date.  (6) MANDATORY REDEMPTION.  The Company is not required to make mandatory  redemption or sinking fund payments with respect to the Notes.  (7) REPURCHASE AT THE OPTION OF HOLDER.  

 

  A-5      Unless the Company has exercised its right to redeem all the Notes, upon the  occurrence of a Change of Control, the Company will be required to make an offer (a “Change of  Control Offer”) to each Holder to repurchase all or any part (equal to $1,000 or an integral multiple  of $1,000 in excess thereof; provided that the unpurchased portion of any Note may not be less than  $2,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the principal amount  of Notes to be repurchased, plus accrued and unpaid interest on the Notes repurchased to, but not  including, the date of purchase, subject to the rights of Holders of Notes on the relevant record date  to receive interest on an interest payment date occurring on or prior to the purchase date.  Within  30 days following any Change of Control, the Company will mail (or to the extent permitted or  required by applicable DTC procedures or regulations with respect to Global Notes, send  electronically) a notice to each Holder setting forth the procedures governing the Change of Control  Offer as required by the Indenture.  (8) NOTICE OF REDEMPTION.  At least 15 days but not more than 60 days before a  redemption date, the Company will mail or cause to be mailed, by first class mail (or to the extent  permitted or required by applicable DTC procedures or regulations with respect to Global Notes,  send electronically), a notice of redemption to each Holder whose Notes are to be redeemed at its  registered address, except that redemption notices may be mailed more than 60 days prior to a  redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction  and discharge of the Indenture pursuant to Articles 8 or 11 thereof.  Notes selected will be in amounts  of $2,000 or integral multiples of $1,000 in excess thereof; provided that if all of the Notes of a  Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder shall be  redeemed; provided, further that portions of Notes may be selected for redemption in denominations  equal to $1,000 or integral multiples thereof, except that the unredeemed portion of a Note shall be  in a minimum principal amount of $2,000.  (9) DENOMINATIONS, TRANSFER, EXCHANGE.  The Notes are in registered form in  denominations of $2,000 and integral multiples of $1,000 in excess thereof.  The transfer of Notes  may be registered and Notes may be exchanged as provided in the Indenture.  The Registrar and the  Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer  documents and the Company may require a Holder to pay any taxes and fees required by law or  permitted by the Indenture.  The Company need not exchange or register the transfer of any Note or  portion of a Note selected for redemption, except for the unredeemed portion of any Note being  redeemed in part.  Also, the Company need not exchange or register the transfer of any Notes for a  period of 15 days before a selection of Notes to be redeemed or during the period between a record  date and the next succeeding Interest Payment Date.  (10) PERSONS DEEMED OWNERS.  Except as otherwise provided in the Indenture, the  registered Holder of a Note may be treated as the owner of it for all purposes.  Only registered Holders  have rights under the Indenture.   (11) AMENDMENT, SUPPLEMENT AND WAIVER.  The provisions governing amendment,  supplement and waiver of any provision of the Indenture, the Notes or the Guarantees are set forth  in Article 9 of the Indenture.    (12) DEFAULTS AND REMEDIES.  The Events of Default relating to the Notes are defined  in Section 6.01 of the Indenture.   (13) TRUSTEE DEALINGS WITH COMPANY.  The Trustee, in its individual or any other  capacity, may make loans to, accept deposits from, and perform services for the Company or its  Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.  

 

  A-6      (14) NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator or  stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of  the Company or the Guarantors under the Notes, the Indenture, the Subsidiary Guarantees or for any  claim based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of  Notes by accepting a Note waives and releases all such liability.  The waiver and release are part of  the consideration for issuance of the Notes.  The waiver may not be effective to waive liabilities  under the federal securities laws.  (15) AUTHENTICATION.  This Note will not be valid until authenticated by the manual or  facsimile signature of the Trustee or an authenticating agent.  (16) ABBREVIATIONS.  Customary abbreviations may be used in the name of a Holder or  an assignee, such as:  TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT  TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian),  and U/G/M/A (= Uniform Gifts to Minors Act).  (17) CUSIP OR ISIN NUMBERS.  Pursuant to a recommendation promulgated by the  Committee on Uniform Security Identification Procedures, the Company has caused CUSIP or ISIN  numbers to be printed on the Notes, and the Trustee may use CUSIP or ISIN numbers in notices of  redemption as a convenience to Holders.  No representation is made as to the accuracy of such  numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may  be placed only on the other identification numbers placed thereon.  (18) GOVERNING LAW.  THE INTERNAL LAW OF THE STATE OF NEW YORK  WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE  SUBSIDIARY GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES  OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF  ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.  EACH OF THE PARTIES  HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY  APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR  PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES, THE  SUBSIDIARY GUARANTEES OR THE TRANSACTIONS CONTEMPLATED HEREBY.  The Company will furnish to any Holder upon written request and without charge a copy of the  Indenture.  Requests may be made to:  Louisiana-Pacific Corporation  414 Union Street, Suite 2000  Nashville, Tennessee 37219  Facsimile No.:  (615) 986-5880  Attention:  Bob Hopkins    

 

  A-7      ASSIGNMENT FORM  To assign this Note, fill in the form below:  (I) or (we) assign and transfer this Note to:      (Insert assignee’s legal name)     (Insert assignee’s soc. sec. or tax I.D. no.)              (Print or type assignee’s name, address and zip code)  and irrevocably appoint    agent to transfer this Note on the books of the Company.  The agent may substitute another to act for him.  Date:  _______________  Your Signature:     (Sign exactly as your name appears on the face of this  Note)    Signature Guarantee*:  _________________________    * Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor  acceptable to the Trustee).  

 

  A-8      Option of Holder to Elect Purchase  If you want to elect to have this Note purchased by the Company pursuant to Section 4.09 of the  Indenture, check the following box:   Section 4.09    If you want to elect to have only part of the Note purchased by the Company pursuant to Section  4.09 of the Indenture, state the amount you elect to have purchased:   $_______________ ($1,000 or integral multiples thereof,  provided that the unpurchased portion of a Note must be in a minimum principal amount of $2,000)    Date:  _______________  Your Signature:     (Sign exactly as your name appears on the face of this  Note)  Tax Identification No.:       Signature Guarantee*:  _________________________    * Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor  acceptable to the Trustee).    

 

  A-9      SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE *  The following exchanges of a part of this Global Note for an interest in another Global Note or for  a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this  Global Note, have been made:    Date of Exchange  Amount of  decrease in  Principal Amount  of   this Global Note  Amount of  increase in  Principal Amount   of   this Global Note  Principal Amount   of this Global Note  following such  decrease   (or increase)  Signature of  authorized officer  of Trustee or  Custodian                                                                              * This schedule should be included only if the Note is issued in global form.  

 

EXHIBIT B     B-1      FORM OF CERTIFICATE OF TRANSFER  Louisiana-Pacific Corporation  414 Union Street, Suite 2000  Nashville, Tennessee 37219  Facsimile No.:  (615) 986-5880  Attention:  Bob Hopkins     [Registrar address block]  Re:  3.625% Senior Notes due 2029  Reference is hereby made to the Indenture, dated as of March 11, 2021 (the “Indenture”), between  Louisiana-Pacific Corporation, as issuer (the “Company”), and The Bank of New York Mellon Trust  Company, N.A., as trustee.  Capitalized terms used but not defined herein shall have the meanings given to  them in the Indenture.  ___________________, (the “Transferor”) owns and proposes to transfer the Note[s] or interest in  such Note[s] specified in Annex A hereto, in the principal amount of $___________ in such Note[s] or  interests (the “Transfer”), to ___________________________ (the “Transferee”), as further specified in  Annex A hereto.  In connection with the Transfer, the Transferor hereby certifies that:  [CHECK ALL THAT APPLY]  1.     Check if Transferee will take delivery of a beneficial interest in the 144A Global Note  or a Restricted Definitive Note pursuant to Rule 144A.  The Transfer is being effected pursuant to and  in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and,  accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Note is being  transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or  Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises  sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within  the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in  compliance with any applicable blue sky securities laws of any state of the United States.  Upon  consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred  beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private  Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the  Indenture and the Securities Act.  2.     Check if Transferee will take delivery of a beneficial interest in the Regulation S Global  Note or a Restricted Definitive Note pursuant to Regulation S.  The Transfer is being effected pursuant  to and in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor  hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the  time the buy order was originated, the Transferee was outside the United States or such Transferor and any  Person acting on its behalf reasonably believed and believes that the Transferee was outside the United  States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities  market and neither such Transferor nor any Person acting on its behalf knows that the transaction was  prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in  contravention of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act  (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities  Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the  transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an  

 

  B-2      Initial Purchaser).  Upon consummation of the proposed transfer in accordance with the terms of the  Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer  enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted  Definitive Note and in the Indenture and the Securities Act.  3.     Check and complete if Transferee will take delivery of a beneficial interest in the IAI  Global Note or a Restricted Definitive Note pursuant to any provision of the Securities Act other than  Rule 144A or Regulation S.  The Transfer is being effected in compliance with the transfer restrictions  applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant  to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the  United States, and accordingly the Transferor hereby further certifies that (check one):  (a)    such Transfer is being effected pursuant to and in accordance with Rule 144  under the Securities Act;  or  (b)    such Transfer is being effected to the Company or a Subsidiary thereof;  or  (c)    such Transfer is being effected pursuant to an effective registration statement  under the Securities Act and in compliance with the prospectus delivery requirements of the  Securities Act;  or  (d)    such Transfer is being effected to an Institutional Accredited Investor and  pursuant to an exemption from the registration requirements of the Securities Act other than Rule  144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not  engaged in any general solicitation within the meaning of Regulation D under the Securities Act  and the Transfer complies with the transfer restrictions applicable to beneficial interests in a  Restricted Global Note or Restricted Definitive Notes and the requirements of the exemption  claimed, which certification is supported by (1) a certificate executed by the Transferee in the  form of Exhibit D to the Indenture and (2) if such Transfer is in respect of a principal amount of  Notes at the time of transfer of less than $250,000, an Opinion of Counsel provided by the  Transferor or the Transferee (a copy of which the Transferor has attached to this certification),  to the effect that such Transfer is in compliance with the Securities Act.  Upon consummation of  the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial  interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private  Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and in  the Indenture and the Securities Act.  4.     Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global  Note or of an Unrestricted Definitive Note.  (a)     Check if Transfer is pursuant to Rule 144.  (i) The Transfer is being effected pursuant to  and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions  contained in the Indenture and any applicable blue sky securities laws of any state of the United States and  (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required  in order to maintain compliance with the Securities Act.  Upon consummation of the proposed Transfer in  

 

  B-3      accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no  longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the  Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.  (b)     Check if Transfer is Pursuant to Regulation S.  (i) The Transfer is being effected pursuant  to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer  restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United  States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are  not required in order to maintain compliance with the Securities Act.  Upon consummation of the proposed  Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note  will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed  on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.  (c)     Check if Transfer is Pursuant to Other Exemption.  (i) The Transfer is being effected  pursuant to and in compliance with an exemption from the registration requirements of the Securities Act  other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the  Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the  restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in  order to maintain compliance with the Securities Act.  Upon consummation of the proposed Transfer in  accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be  subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted  Global Notes or Restricted Definitive Notes and in the Indenture.  This certificate and the statements contained herein are made for your benefit and the benefit of the  Company.        [Insert Name of Transferor]        By:      Name:   Title:  Dated:  _______________________  

 

  B-4      ANNEX A TO CERTIFICATE OF TRANSFER  1. The Transferor owns and proposes to transfer the following:  [CHECK ONE OF (a) OR (b)]  (a)    a beneficial interest in the:  (i)    144A Global Note (CUSIP _________), or  (ii)    Regulation S Global Note (CUSIP _________), or  (iii)    IAI Global Note (CUSIP _________); or  (b)     a Restricted Definitive Note.  2. After the Transfer the Transferee will hold:  [CHECK ONE]  (a)     a beneficial interest in the:  (i)    144A Global Note (CUSIP _________), or  (ii)    Regulation S Global Note (CUSIP _________), or  (iii)    IAI Global Note (CUSIP _________); or  (iv)    Unrestricted Global Note (CUSIP _________); or  (b)     a Restricted Definitive Note; or  (c)     an Unrestricted Definitive Note,  in accordance with the terms of the Indenture.  

 

  EXHIBIT C   C-1      FORM OF CERTIFICATE OF EXCHANGE  Louisiana-Pacific Corporation  414 Union Street, Suite 2000  Nashville, Tennessee 37219  Facsimile No.:  (615) 986-5880  Attention:  Bob Hopkins    [Registrar address block]  Re:  3.625% Senior Notes due 2029  (CUSIP [         ])  Reference is hereby made to the Indenture, dated as of March 11, 2021 (the “Indenture”), between  Louisiana-Pacific Corporation, as issuer (the “Company”), and The Bank of New York Mellon Trust  Company, N.A., as trustee.  Capitalized terms used but not defined herein shall have the meanings given to  them in the Indenture.  __________________________, (the “Owner”) owns and proposes to exchange the Note[s] or  interest in such Note[s] specified in Annex A hereto, in the principal amount of $____________ in such  Note[s] or interests (the “Exchange”) as further specified in Annex A hereto.  In connection with the  Exchange, the Owner hereby certifies that:  1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global  Note for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note  (a)   Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial  interest in an Unrestricted Global Note.  In connection with the Exchange of the Owner’s beneficial  interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal  principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s  own account without transfer, (ii) such Exchange has been effected in compliance with the transfer  restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of  1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the  Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv)  the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable  blue sky securities laws of any state of the United States.  (b)   Check if Exchange is from beneficial interest in a Restricted Global Note to  Unrestricted Definitive Note.  In connection with the Exchange of the Owner’s beneficial interest in a  Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive  Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected  in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and  in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the  Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv)  the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any  state of the United States.  (c)   Check if Exchange is from Restricted Definitive Note to beneficial interest in an  Unrestricted Global Note.  In connection with the Owner’s Exchange of a Restricted Definitive Note for  

 

    C-2      a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is  being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in  compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in  accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the  Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv)  the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any  state of the United States.  (d)   Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note.   In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive  Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own  account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions  applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii)  the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in  order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being  acquired in compliance with any applicable blue sky securities laws of any state of the United States.  2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global  Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes  (a)   Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted  Definitive Note.  In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global  Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the  Restricted Definitive Note is being acquired for the Owner’s own account without transfer.  Upon  consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted  Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private  Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act.  (b)   Check if Exchange is from Restricted Definitive Note to beneficial interest in a  Restricted Global Note.  In connection with the Exchange of the Owner’s Restricted Definitive Note for  a beneficial interest in the [CHECK ONE]  144A Global Note,  Regulation S Global Note,  IAI Global  Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired  for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with  the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with  the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United  States.  Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the  beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement  Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act.  This certificate and the statements contained herein are made for your benefit and the benefit of the  Company.       [Insert Name of Transferor]      By:      Name:   Title:  Dated:  ______________________  

 

    C-3      ANNEX A TO CERTIFICATE OF EXCHANGE  1. The Transferor owns and proposes to exchange the following:  [CHECK ONE OF (a) OR (b)]  (a)    a beneficial interest in the:  (i)    144A Global Note (CUSIP _________), or  (ii)    Regulation S Global Note (CUSIP _________), or  (iii)    IAI Global Note (CUSIP _________); or  (b)     a Restricted Definitive Note.  2. After the Transfer the Transferee will hold:  [CHECK ONE]  (a)     a beneficial interest in the:  (i)    144A Global Note (CUSIP _________), or  (ii)    Regulation S Global Note (CUSIP _________), or  (iii)    IAI Global Note (CUSIP _________); or  (iv)    Unrestricted Global Note (CUSIP _________); or  (b)     a Restricted Definitive Note; or  (c)     an Unrestricted Definitive Note,  in accordance with the terms of the Indenture.  

 

  EXHIBIT D   D-1      FORM OF CERTIFICATE FROM  ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR  Louisiana-Pacific Corporation  414 Union Street, Suite 2000  Nashville, Tennessee 37219  Facsimile No.:  (615) 986-5880  Attention:  Bob Hopkins     [Registrar address block]  Re:  3.625% Senior Notes due 2029  Reference is hereby made to the Indenture, dated as of March 11, 2021 (the “Indenture”), between  Louisiana-Pacific Corporation, as issuer (the “Company”) and The Bank of New York Mellon Trust  Company, N.A., as trustee.  Capitalized terms used but not defined herein shall have the meanings given to  them in the Indenture.  In connection with our proposed purchase of $____________ aggregate principal amount of:  (a)   a beneficial interest in a Global Note, or  (b)   a Definitive Note,  we confirm that:  1. We understand that any subsequent transfer of the Notes or any interest therein is subject  to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by,  and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with,  such restrictions and conditions and the Securities Act of 1933, as amended (the “Securities Act”).  2. We understand that the offer and sale of the Notes have not been registered under the  Securities Act, and that the Notes and any interest therein may not be offered or sold except as permitted in  the following sentence.  We agree, on our own behalf and on behalf of any accounts for which we are acting  as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the  Company or any Subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a  “qualified institutional buyer” (as defined therein), (C) to an institutional “accredited investor” (as defined  below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you  and to the Company a signed letter substantially in the form of this letter and, if such transfer is in respect  of a principal amount of Notes, at the time of transfer of less than $250,000, an Opinion of Counsel in form  reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities  Act, (D) outside the United States in accordance with Rule 904 of Regulation S under the Securities Act,  (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an effective  registration statement under the Securities Act, and we further agree to provide to any Person purchasing  the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements  of clauses (A) through (E) of this paragraph a notice advising such purchaser that resales thereof are  restricted as stated herein.  3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we  will be required to furnish to you and the Company such certifications, legal opinions and other information  

 

    D-2    as you and the Company may reasonably require to confirm that the proposed sale complies with the  foregoing restrictions.  We further understand that the Notes purchased by us will bear a legend to the  foregoing effect.  4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7)  of Regulation D under the Securities Act) and have such knowledge and experience in financial and  business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we  and any accounts for which we are acting are each able to bear the economic risk of our or its investment.  5. We are acquiring the Notes or beneficial interest therein purchased by us for our own  account or for one or more accounts (each of which is an institutional “accredited investor”) as to each of  which we exercise sole investment discretion.  You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce  this letter or a copy hereof to any interested party in any administrative or legal proceedings or official  inquiry with respect to the matters covered hereby.        [Insert Name of Accredited Investor]      By:      Name:   Title:  Dated:  _______________________  

 

  EXHIBIT E  E-1      [FORM OF NOTATION OF GUARANTEE]  For value received, each Guarantor (which term includes any successor Person under the Indenture)  has, jointly and severally, unconditionally guaranteed, to the extent and subject to the provisions set forth  in the Indenture, dated as of March 11, 2021 (the “Indenture”), between Louisiana-Pacific Corporation (the  “Company”) and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), (a) the  due and punctual payment of the principal of, premium, if any, on, and interest on the Notes, whether at  maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue  principal of, premium, if any, on, and interest on the Notes, if any, if lawful, and the due and punctual  performance of all other obligations of the Company to the Holders or the Trustee, all in accordance with  the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or  any of such other obligations, that the same will be promptly paid in full when due or performed in  accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or  otherwise.  The obligations of the Guarantors to the Holders of Notes and to the Trustee pursuant to the  Subsidiary Guarantee and the Indenture are expressly set forth in the Indenture and reference is hereby  made to the Indenture for the precise terms of the Subsidiary Guarantee.    Capitalized terms used but not defined herein have the meanings given to them in the Indenture.  [NAME OF GUARANTOR(S)]      By:     Name:   Title:  

 

  EXHIBIT F   F-1      [FORM OF SUPPLEMENTAL INDENTURE  TO BE DELIVERED BY SUBSEQUENT GUARANTORS]  SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of ________________,  among __________________ (the “Guaranteeing Subsidiary”), a Subsidiary of Louisiana-Pacific  Corporation (or its permitted successor), a Delaware corporation (the “Company”), the Company and The  Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the  “Trustee”).  W I T N E S S E T H  WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture (the  “Indenture”), dated as of March 11, 2021, providing for the issuance of 3.625% Senior Notes due 2029 (the  “Notes”);  WHEREAS, the Indenture provides that under certain circumstances, the Guaranteeing Subsidiary  shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing  Subsidiary shall unconditionally guarantee the Company’s obligations under the Notes and the Indenture  on the terms and conditions set forth herein (the “Subsidiary Guarantee”); and  WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and  deliver this Supplemental Indenture.  NOW, THEREFORE, in consideration of the foregoing and for other good and valuable  consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary, the Company  and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes  as follows:  1. CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the  meanings assigned to them in the Indenture.  2. AGREEMENT TO GUARANTEE.  The Guaranteeing Subsidiary hereby agrees to provide an  unconditional guarantee on the terms and subject to the conditions set forth in the Subsidiary Guarantee  (the form of which is attached to the Indenture as Exhibit E) and in the Indenture, including but not limited  to Section 4.10 and Article 10 thereof.  3. NO RECOURSE AGAINST OTHERS.  No director, officer, employee, incorporator or  stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the  Company or the Guarantors under the Notes, this Indenture, the Subsidiary Guarantees or for any claim  based on, in respect of, or by reason of, such obligations or their creation.  Each Holder of Notes by  accepting a Note waives and releases all such liability.  The waiver and release are part of the consideration  for issuance of the Notes.  The waiver may not be effective to waive liabilities under the federal securities  laws.  4. NEW YORK LAW TO GOVERN.  THE INTERNAL LAW OF THE STATE OF NEW  YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE  WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE  EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE  REQUIRED THEREBY.  

 

    F-2      5. COUNTERPARTS.  The parties may sign any number of copies of this Supplemental  Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  6. EFFECT OF HEADINGS.  The Section headings herein are for convenience only and shall not  affect the construction hereof.  7. THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in  respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals  contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company.  

 

    F-3      IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly  executed, all as of the date first above written.  Dated:  _______________,   [GUARANTEEING SUBSIDIARY]    By:  _______________________________   Name:   Title:  LOUISIANA-PACIFIC CORPORATION  By:  _______________________________   Name:   Title:  THE BANK OF NEW YORK MELLON TRUST  COMPANY, N.A.,    as Trustee  By:  _______________________________   Authorized Signatory

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