Document:

Separation Agreement between Diversey, Inc. and James Larson

 Exhibit 10.39 
 SEPARATION AGREEMENT BETWEEN 
 DIVERSEY, INC. AND JAMES LARSON

  

					
	Date:	 	October 18, 2010	  	
			
	From:	 	Edward F. Lonergan	  	PERSONAL & CONFIDENTIAL
			
	To:	 	James Larson	  	

 The following sets forth the mutual agreement (“Agreement”) between you and Diversey,
Inc. (the “Company”), formerly known as JohnsonDiversey, Inc., regarding your separation from the Company: 
 1.
Resignation. You hereby submit and the Company hereby accepts your irrevocable written resignation as an officer and employee of the Company, its subsidiaries and affiliates effective October 18, 2010 (such date of resignation being
herein referred to as the “Termination Date”). Your resignation effective on the Termination Date constitutes a “separation from service” (as such phrase is defined under Internal Revenue Code Section 409A and the regulation
promulgated thereunder). 
 2. Severance Pay and Benefits. Subject to the terms of this Agreement, the Company will pay
or provide to you following your Termination Date: 
 a. Salary Continuation. The Company will pay you an
amount equal to two times the sum of your current annual rate of Base Salary ($318,270) and your Annual Incentive Plan (“AIP”) bonus opportunity at your 2010 target rate ($159,135) as salary continuation which will be paid over 24 months
following the Termination Date. Payments of this salary continuation amount of $954,810 will be paid in equal installments at the times and in the manner consistent with Company payroll practices for executive employees, and each installment payment
shall be considered a separate payment and not one of a series of payments for purposes of Section 409A of the Internal Revenue Code. Payments will have all federal, state and local withholding taxes deducted, as applicable. 

b. Health Benefits. The medical, dental and vision coverage you elected under the Diversey Choice Benefits Program
will cease on your Termination Date. At your option, you may continue your coverage for yourself and your eligible dependents on your Termination Date for a period of 24 months, inclusive of 18 months of COBRA. Please contact the DI Service Center
at (866) 391-0760 for more detailed information. If you elect any such continued coverage, the Company will subsidize the medical, vision and dental rates for the 24 months of continuation coverage following your Termination Date so that for
the same coverage you will pay the same amount of contribution as if you were an active employee; provided, however, that with respect to any such medical, dental and vision benefits provided under a self-insured medical reimbursement plan (within
the meaning of Section 105(h) of the Internal Revenue Code), (a “Self-Insured Medical Plan”), for which you have elected coverage, the reimbursement of an eligible medical expense must be made on or before the last day of the calendar
year following the calendar year in which the expense was incurred, (B) you must pay to the Company 

 
the cost, on an after-tax basis, for the premium payments (both the employee and employer portion) required for such continued coverage under any Self-Insured Medical Plan, and (C) the
Company will pay to you or your eligible dependents on the first day of each month during such period of continuation coverage, an additional severance payment in an amount such that the net amount of such severance pay, after all applicable tax
withholding, equals the difference between the full COBRA premium and the premium charged to active employees, which amount shall be applied towards your foregoing payment obligation of the premium for coverage during such month. 

c. Choice Benefits. As with the health benefits, the coverage you elected will cease on your Termination Date.

 d. 2010 AIP. You will receive, on a prorated basis, a 2010 AIP bonus payment based on the target bonus
rate for 2010 of $159,135, with your prorated entitlement to be determined by multiplying such amount by a fraction, the numerator of which is the number of days in 2010 through your Termination Date and the denominator of which is 365. This payment
will be made after the end of 2010 at the time the Company pays 2010 awards under the AIP but in no event will payment be made later than March 15, 2011 and will be subject to all federal, state and local withholding taxes, as applicable.

 e. Purchased Shares. The 50,000 shares of Diversey Holdings, Inc. common stock (“Common
Stock”) that you have purchased under your Employee Stock Subscription Agreement (Purchased Shares) dated as of February 18, 2010 will be repurchased pursuant the provisions of such agreement following your Termination Date. 

f. Matched Options. You will become vested on your Termination Date in 20.8% of the options for 150,000 shares of
Common Stock granted to you pursuant to your Employee Stock Option Agreement (Matching (non-DSU) and/or Standalone Options) dated as of February 18, 2010 and will be paid in cash within 60 days after your Termination Date an amount equal to the
excess of the Fair Market Value (within the meaning of the Diversey Holdings, Inc. Stock Incentive Plan) (“Fair Market Value”) of such vested option shares on your Termination Date over the aggregate option price thereof. Any remaining
options under such agreement shall be forfeited on your Termination Date, and you shall be entitled to no further benefits under such agreement. You will forfeit on your Termination Date all options granted to you pursuant to your Employee Stock
Option Agreement (2008-2010 DSUs) dated as of January 11, 2010, and Employee Stock Option Agreement (2009-2011 DSUs) dated as of January 11, 2010. 
 g. 2008-10 DSUs. You will receive a cash payment for the 2008-10 performance cycle under your Deferred Share Unit Agreement dated January 11, 2010 equal to the sum of (i) 100% of your
earned 2008-2010 Deferred Share Units (“2008-2010 DSUs”) for the 2008-2009 period based on actual performance and (ii) 83.33% of your unearned DSUs for the 2010 period at target, then multiplied by the Fair Market Value of a share of
Common Stock on your Termination Date. Payment of the amount so determined will be paid after the end of the 2008-10 performance cycle at the time DSUs of other participants are settled for such cycle. Such payment will be subject to all

  
 2 

 
federal, state, and local withholding taxes, as applicable. You shall be entitled to no further benefits with respect to your DSUs under your Deferred Share Unit Agreement for the 2008-10
performance cycle. 
 h. 2009-11 DSUs. You will receive a cash payment for the 2009-11 performance cycle
under your Deferred Share Unit Agreement dated January 11, 2010 equal to the sum of (i) 100% of your earned 2009-2011 Deferred Share Units (“2009-2011 DSUs”) for the 2009 period based on actual performance but contingent upon
attainment of the applicable three-year EBITDA performance objective set out in such agreement and (ii) 41.66% of the unearned DSUs for the 2010-2011 period based on actual performance results for the 2010-2011 period but not to exceed target
but again contingent upon attainment of the applicable three-year EBITDA performance objective set out in such agreement, then multiplied by the Fair Market Value of a share of Common Stock on your Termination Date. Payment of the amount so
determined will be paid after the end of the 2009-11 performance cycle at the time DSUs for other participants are settled for such cycle. Such payment will be subject to all federal, state, and local withholding taxes, as applicable. You shall be
entitled to no further benefits with respect to your DSUs under your Deferred Share Unit Agreement for the 2009-11 performance cycle. 
 i. Diversey Retirement Plan/Non-qualified Retirement Plan. Your vested benefits under these plans at your Termination Date will be available to you pursuant to their terms. You will receive
more detailed information after your Termination Date. 
 j. 401(k) Plan. You will continue to participate
in the 401(k) Plan based on your Base Salary up to your Termination Date. Your Plan account will be based on the date of distribution of your account to you. To access your 401(k) account, please call Fidelity at (800) 890-4015. 

k. Flexible Spending Account. You will be entitled to a lump sum cash payment of $10,000 to be paid within 60 days
following your Termination Date, which amount is equal to the amount of your annual Flexible Benefit Account perquisite in effect at your Termination Date. 
 l. Outplacement Assistance. You will receive a senior executive level outplacement program by an outplacement firm selected by you and paid for by the Company up to $30,000, provided that such
payment shall be completed not later than March 15, 2011. 
 m. All Other Benefits/Relocation. All
other benefits not specifically mentioned above cease as of your Termination Date, and you will not be entitled to any awards under our annual or long-term bonus or incentive plans (including AIP and the Stock Incentive Plan awards) for 2010 or
later years except as specifically provided above. You will be paid for accrued but unused vacation days in accordance with Company policy and the requirements of Wisconsin law. You will be entitled to be relocated back to the State from which you
were originally relocated by the Company (Illinois) according to the terms of the Company’s current relocation policy (R1); 

  
 3 

 
provided, however, notwithstanding the terms of the R1 policy (including any addendums or amendments), the Company will not be required to purchase your residence under any
circumstances, and, provided further, the Company shall not be required to pay (whether directly to you or a third party) an aggregate amount in connection with any relocation in excess of $100,000. 

n. Release. Payment of the payments and benefits described in Section 2 (other than in the first sentence of
Section 2.i and in Section 2.j) are conditioned upon your executing and delivering to the Company within 21 days after the Termination Date and not revoking a Release of Claims Agreement in the form attached as Exhibit “A”. If
you do not execute the Release of Claims Agreement and deliver it to the Company within such period or if you execute and deliver the Release of Claims Agreement to the Company but revoke it before it becomes effective as provided therein, you will
not be entitled to the payments referenced above in this Section 2.n and the aforementioned provisions of this Section 2 of the Agreement providing for such payments will be null and void and without effect. 

3. Corporate Credit Card. You agree to file all expense reports on your Company issued credit card on or before your Termination
Date. If any amount remains outstanding, you agree that the Company will withhold said amount from any monies due you under this Agreement that are not subject to Section 409A of the Internal Revenue Code or will otherwise promptly reimburse
the Company on request. 
 4. Return of Company Property. Not later than your Termination Date, you shall return all
Company-owned property in your possession, including but not limited to all keys to buildings or property, credit cards, files, equipment, software and computers, documents and papers (including but not limited to reports, Rolodexes, sales data,
product lists, business plans, financial information, corporate governance materials, notebook entries, and files), telephone cards, cellular telephone(s), and all other Company property in accordance with Company guidelines and the Non-Compete (as
defined below in Section 5). 
 5. Non-Compete. As a material term of this Agreement, you agree to comply in all
respects with the terms of the Non-Competition Agreement with the Company, (ii) the Trade Secret, Invention, and Copyright Agreement with the Company, (iii) the Confidentiality Agreement with the Company and (iv) the Company’s
Code of Ethics and Business Conduct (collectively, the “Non-Compete”), in each case that you signed and is dated May 1, 2007. You acknowledge and agree that the Non-Compete remains in full force and effect notwithstanding the
termination of your employment with the Company. The terms of the Non-Compete are hereby incorporated by reference. You reaffirm the terms of the Non-Compete and agree that (a) by executing this Agreement you are agreeing to all of the terms of
the Non-Compete as if you signed those documents anew, and (b) the payments you are receiving and/or are to receive under this Agreement is consideration for the obligations you have under the Non-Compete. 

6. Confidentiality. The Parties agree that neither party, nor anyone acting in or on his/its behalf shall initiate or cause to be
initiated any publicity or any oral or written communication whatsoever concerning the terms of this Agreement and, with the exceptions stated herein below, shall forever hold confidential and not make public to anyone, in particular,

  
 4 

 
current and past employees of the Company, whether by oral or written communications or otherwise, said terms, except only: (a) as may be required by the Company to comply with securities
laws and regulations; (b) to the extent as may be necessary to accomplish legal review, financial planning, tax planning and the filing of income tax returns; (c) to the extent as may be necessary to enforce the terms of this Agreement;
(d) to the extent as may be compelled by court order; or (e) to spouses or immediate family members. 
 7.
Non-Disparagement. You agree that you will not make any disparaging or derogatory remarks or statements about the Company, or the Company’s current and former officers, directors, shareholders, principals, attorneys, agents or employees,
or your prior employment with the Company. The Company agrees that it will not make any disparaging or derogatory remarks or statements about you or your prior employment with the Company. Remarks or statements made by any officer, director,
shareholder, principal or employee of the Company to any other officer, director, shareholder, principal, or employee of the Company shall not be covered by this Section 7. In the event a prospective employer contacts the Company by any means
to verify your employment, the only information that the Company, and its agents or employees will provide will be your hire date, date of resignation and last position held. 
 8. Breach of Agreement. The Company shall have the right to terminate any and all payments to be made to you under this Agreement in the event of your material breach of any of your obligations
under Sections 6 and 7 of this Agreement or under the Non-Compete. In the event the Company believes you have breached any other provision of this Agreement, prior to terminating any payments, the Company will provide written notice to you of the
alleged breach and will provide you with forty-five (45) days to cure any such breach (if capable of cure). 
 9.
Miscellaneous. 
 a. In the event that the Company is involved in any investigation, litigation,
arbitration or administrative proceeding subsequent to the Termination Date, you agree that, upon written request, and at a mutually-convenient date, to provide reasonable cooperation (in a manner which enables you to provide the cooperation (if
practicable) outside of the normal work hours associated with your then-current employment or other business responsibilities) to the Company and its attorneys in the prosecution or defense of any investigation, litigation, arbitration or
administrative proceeding, including participation in interviews with the Company’s attorneys, appearing for depositions, testifying in administrative, judicial or arbitration proceedings, or any other reasonable participation necessary for the
prosecution or defense of any such investigation, litigation, arbitration or administrative proceeding. The Company agrees to reimburse you for your reasonable expenses in participating in the prosecution or defense of any investigation, litigation,
arbitration or administrative proceeding as well as to reimburse you for any lost income resulting from compliance with the obligations of this paragraph, provided that you submit acceptable documentation of all such expenses and lost income.

 b. This Agreement is made in the State of Wisconsin, and shall in all respects be interpreted, enforced and
governed under the laws of the State of Wisconsin (exclusive of any rules pertaining to choice of law), or by Federal law where applicable. 

  
 5 

 c. The provisions of this Agreement may not be modified by any subsequent
agreement unless the modifying agreement is: (i) in writing; (ii) specifically references this Agreement; (iii) is signed by you; and (iv) is signed and approved by an authorized officer of the Company. 

d. This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof; the
Parties have executed this Agreement based upon the terms set forth herein; the Parties have not relied on any prior agreement or representation, whether oral or written, which is not set forth in this Agreement; no prior agreement, whether oral or
written, shall have any effect on the terms and provisions of this Agreement; and all prior agreements, whether oral or written, are expressly superseded and/or revoked by this Agreement, including, without limitation, your Employment Agreement
dated July 1, 2008, as amended on December 31, 2008, unless otherwise provided herein. 
 e. Each
provision of this Agreement shall be enforceable independently of every other provision. Furthermore, in the event that any provision is deemed to be unenforceable for any reason, the remaining provisions shall remain effective, binding and
enforceable. The Parties further acknowledge and agree that the failure of any party to enforce any provision of this Agreement shall not constitute a waiver of that provision, or of any other provision of this Agreement. 

f. You agree and understand that this Agreement sets forth and contains all of the obligations the Company has to you and
that you are not entitled to any other compensation of any kind or description. 
 g. We advise you to consult an
attorney prior to signing this Agreement, especially in relation to the Release of Claims Agreement stated above. However, each party will bear their own attorney’s fees and costs in connection with drafting and negotiation of this Agreement.

 h. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect
as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 i.
The Company or its affiliates may withhold from any amounts payable under this Agreement all federal, state and local taxes as is required to withhold pursuant to any law or government regulation or ruling. 

j. For all purposes of this Agreement, all communications, including without limitation notices, consents, requests or
approvals, required or permitted to be given hereunder will be in writing and will be deemed to have been duly given when hand delivered or dispatched by electronic facsimile transmission (with receipt thereof confirmed), or five business days after
having been mailed by United States registered or certified mail, return receipt requested, postage prepaid, or three business days after having been sent by a nationally recognized overnight courier service such as Federal Express, UPS, or
Purolator, addressed to the address set forth below for such party or to such other address as any party may have furnished to the other in writing in accordance herewith: 

(i) If to The Company: Diversey, Inc., 8310 16th Street, P.O. Box 902, Sturtevant, Wisconsin 53177-0902, attention Chief
Executive Officer. 

  
 6 

 (ii) If to Executive: James Larson at his residence as identified in the
Company’s records at the Effective Date. 
 k. To the extent applicable, it is intended that the
compensation arrangements under this Agreement be in full compliance with or exempt from the provisions of Section 409A of the Internal Revenue Code. This Agreement shall be interpreted and administered in a manner consistent with this intent.
Each party is responsible for reviewing this Agreement for compliance with Section 409A. 
 l. The
provisions of this Agreement are not intended, and should not be construed to be legal, business or tax advice. The Company, you and any other party having any interest herein are hereby informed that the U.S. federal tax advice contained in this
document (if any) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to any party any transaction or matter
addressed herein. 
 10. Resignation From Positions. Effective as of the Termination Date, you hereby resign from all
your positions with the Company, its subsidiaries and its affiliates, including as an employee, officer, director, or member of any committee or board thereof, which you hold or in which you serve immediately prior to the Termination Date. From and
after the Termination Date, you shall no longer be an employee, officer or director of the Company or any of its subsidiaries or affiliates. 

  
 7 

 If you are in agreement with all of the terms stated in this Agreement, please sign both copies where
provided below and return one copy to me. 
  

			
	Diversey, Inc.
		
	By:	 	  

 Accepted and agreed to this      day of 

            , 2010 
 
                                        

  
 8 

 Exhibit A 
 Form of Release 
 [See attached] 

  
 1 

 EXHIBIT A 
 RELEASE OF CLAIMS AGREEMENT 
 This Release of Claims Agreement
(“Agreement”) is made by and between Diversey, Inc. (the “Company”) and James Larson (“Executive”). 
 WHEREAS, Executive was employed by the Company; 
 WHEREAS, the Company and
Executive have entered into an Agreement dated October 18, 2010 (the “Severance Agreement”). 
 NOW THEREFORE, in
consideration of the mutual promises made herein, the Company and Executive (collectively referred to as the “Parties”) hereby agree as follows: 
 1. Termination. Executive’s employment with the Company terminated on October 18, 2010. 
 2. Consideration. Subject to and in consideration of Executive’s release of claims as provided herein, the Company agrees to pay Executive certain benefits as set forth in the Severance
Agreement. 
 3. Payment of Salary. Executive acknowledges and represents that the Company and its affiliates has paid all
salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive, other than such payments and benefits remaining to be paid under the terms of the Severance Agreement between Executive and the Company.

 4. Release. In consideration of the Company’s payment of the severance payments provided in the Severance
Agreement, Executive agrees, on behalf of himself, his spouse or any former spouse, dependents, heirs, attorneys, successors and assigns, to release, hold harmless and forever discharge DIVERSEY, INC., as well as its parent companies, subsidiaries,
affiliates, successors, predecessors, employees, agents, directors and officers, past and present, stockholders and estates in their individual and business capacities, jointly and severally, (collectively referenced herein as “the Released
Parties”), from any and all claims, damages, fees, costs or other equitable, legal, statutory or common law relief for any causes of action, obligations, contracts, torts, claims, costs, penalties, fines, liabilities, attorneys’ fees,
demands or suits, of whatever kind or character, known or unknown, fixed or contingent, liquidated or unliquidated, whether asserted or unasserted, arising out of or related to Executive’s prior employment with the Company, his termination from
employment with the Company, any employment agreements, policies or practices governing terms of Executive’s employment, and any acts or omissions by the Company or any of the Company’s current and former officers, directors, shareholders,
principals, attorneys, agents, employees, affiliates, parent companies, subsidiaries, successors and assigns, at any time up through the Effective Date of this Agreement. This Agreement shall specifically apply to, but shall not be limited to,
claims for violation of civil rights, including violations of Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Americans With Disabilities Act, the Age Discrimination in Employment Act or any other state or federal statute (or
constitution), 

  
 1 

 
including but not limited to any claim based upon race, sex, national origin, ancestry, religion, age, mental or physical disability, marital status, sexual orientation or denial of Family and
Medical Leave; claims arising under the Employee Retirement Income Security Act (“ERISA”), or pertaining to ERISA-regulated benefits; claims arising under the Fair Labor Standards Act, including any claims for wages, vacation pay,
severance pay, bonus compensation, commissions, deferred compensation, other remuneration of any kind or character; claims for violations of any federal, state or local laws governing employment or labor relations; claims for any obligations,
agreements, express or implied contracts; claims for defamation, invasion of privacy, assault and battery, intentional or negligent infliction of emotional distress, negligence, gross negligence, estoppel, conspiracy or misrepresentation; express or
implied duties of good faith and fair dealing; wrongful discharge, violations of public policy; and/or torts for any and all alleged acts, omissions or events up through the Effective Date of this Agreement. Notwithstanding the foregoing provisions
of this Section 4, the release provided in this Agreement shall not cover Executive’s right to indemnification under the by-laws of the Company, or any right of Executive to enforce the terms of the Severance Agreement, including any
claims concerning or relating to Executive’s receipt of vested benefits under the terms of the Company’s benefit plans as provided for under the Severance Agreement. 
 5. Older Worker Benefit Protection Act. This Agreement is intended to comply with the terms of the Older Workers’ Benefit Protection Act. Accordingly, Executive acknowledges that he has been
advised of the following rights: 
 a. Executive understands that state and federal laws, including the AGE
DISCRIMINATION IN EMPLOYMENT ACT, prohibit employment discrimination based upon age, sex, marital status, race, color, national origin, ethnicity, religion, sexual orientation, veteran’s status and disability. He further acknowledges and agrees
that, by signing this Agreement, he agrees to waive any and all such claims, and release the Company as well as the other Released Parties from any and all such claims. 

b. Executive acknowledges that he has been advised in writing to consult with an attorney and has been provided with a
reasonable opportunity to consult with an attorney prior to signing this Agreement, which contains a general release and waiver of claims. 
 c. Executive acknowledges that the consideration required to be paid pursuant to the terms of the Severance Agreement includes certain payments to which he otherwise would not be entitled, and that he is
being paid these additional payments in consideration for signing this Agreement. 
 d. Executive acknowledges
that he has been provided with a minimum of TWENTY-ONE (21) DAYS after receiving this Agreement to consider whether to sign this Agreement. 
 e. Executive has been informed that, in the event that he signs this Agreement, he has another SEVEN (7) DAYS to revoke it. To revoke, Executive agrees to deliver a written notice of revocation to
Edward F. Lonergan, President and Chief 

  
 2 

 
Executive Officer, (with a cc to Scott D. Russell, Senior Vice President, General Counsel), Diversey, Inc., 8310 16th Street, P.O. Box 902, Sturtevant, WI 53177-0902, prior to 5 PM on the seventh
day after signing. THIS AGREEMENT DOES NOT BECOME EFFECTIVE UNTIL EXPIRATION OF THIS SEVEN DAY PERIOD. 
 f. The
consideration required to be paid under the Severance Agreement will not be paid until the aforesaid rescission period has expired without Executive exercising his right of rescission and all terms of this Agreement are fulfilled. 

6. No Pending or Future Lawsuits. Executive represents that he has no lawsuits, claims, or actions pending in his name, or on
behalf of any other person or entity, against the Company or any other person or entity referred to herein. Executive also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against
the Company or any other person or entity referred to herein with regard to matters released hereunder. 
 7. Costs. The
Parties shall each bear their own costs, expert fees, attorneys’ fees and other fees incurred in connection with this Agreement. 
 8. Authority. Executive represents and warrants that he has the capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this
Agreement. 
 9. No Representations. Executive represents that he has had the opportunity to consult with an attorney, and
has carefully read and understands the scope and effect of the provisions of this Agreement. Neither party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this Agreement.

 10. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 
 11.
Entire Agreement. This Agreement and the Severance Agreement and the agreements and plans incorporated therein represent the entire agreement and understanding between the Company and Executive concerning Executive’s separation from the
Company, and supersede and replace all prior agreements and understandings concerning Executive’s compensation and relationship with the Company and its affiliates, including, without limitation, the Employment Agreement between the Parties
dated July 1, 2008, as amended by an amendment dated December 30, 2008. This Agreement may only be amended in writing signed by Executive and an executive officer of the Company. 

12. Governing Law. This Agreement shall be governed by the internal substantive laws, but not the choice of law rules, of the State
of Wisconsin. 
 13. Effective Date. The Effective Date of this Agreement shall be (7) calendar days after the date
that Executive signs the Agreement. The date that representatives of the Company sign this Agreement shall not affect the Effective Date for any purpose under this Agreement. 

  
 3 

 14. Counterparts. This Agreement may be executed in counterparts, and each
counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 15. Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing
all claims. The Parties acknowledge that: 
 a. They have read this Agreement; 

b. They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of their
own choice or that they have voluntarily declined to seek such counsel; 
 They understand the terms and consequences of this
Agreement and of the releases it contains; 
 They are fully aware of the legal and binding effect of the Agreement. 

IN WITNESS WHEREOF, the parties have executed this Agreement on the      day of
                    , 2010. 
  

			
	By:	 	 /s/ James Larson

		 	James Larson
	
	DIVERSEY, INC.
		
	By:	 	 /s/ Scott D. Russell

		 	    Scott D. Russell
	Title:	 	Senior Vice President, General Counsel

  
 4 

 Exhibit B 
 Confidentiality Agreement 
 Non-Competition Agreement 

Trade Secret, Invention, and Copyright Agreement 
 Code of Ethics and Business Conduct 
 [See Attached] 

  
 1Indenture

 Exhibit 4.1 

 
  
 RAAM GLOBAL ENERGY COMPANY 
 AND EACH OF THE GUARANTORS PARTY HERETO 

12.50% SENIOR SECURED NOTES DUE 2015 
  

 
 INDENTURE

 Dated as of September 24, 2010 
  

 
  

 
 The Bank of New
York Mellon Trust Company, N.A. 
 Trustee and Collateral Agent 

 
  

 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
	 (c)
	  	N.A.
	 312(a)
	  	2.05
	 (b)
	  	13.03
	 (c)
	  	13.03
	 313(a)
	  	7.06
	 (b)(2)
	  	7.06; 7.07
	 (c)
	  	7.06; 2.02
	 (d)
	  	7.06
	 314(a)
	  	4.03; 13.02; 13.05
	 (c)(1)
	  	13.04
	 (c)(2)
	  	13.04
	 (c)(3)
	  	N.A.
	 (e)
	  	13.05
	 (f)
	  	N.A.
	 315(a)
	  	7.01
	 (b)
	  	7.05; 13.02
	 (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)
	  	13.01
	 (b)
	  	N.A.
	 (c)
	  	13.01

 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
	  	 	27	  
	 Section 1.03
	  	 Incorporation by Reference of Trust Indenture Act
	  	 	27	  
	 Section 1.04
	  	 Rules of Construction
	  	 	28	  
			
		  	ARTICLE 2	  			
		  	THE NOTES	  			
			
	 Section 2.01
	  	 Form and Dating
	  	 	28	  
	 Section 2.02
	  	 Execution and Authentication
	  	 	29	  
	 Section 2.03
	  	 Registrar and Paying Agent
	  	 	30	  
	 Section 2.04
	  	 Paying Agent to Hold Money in Trust
	  	 	30	  
	 Section 2.05
	  	 Holder Lists
	  	 	30	  
	 Section 2.06
	  	 Transfer and Exchange
	  	 	30	  
	 Section 2.07
	  	 Replacement Notes
	  	 	41	  
	 Section 2.08
	  	 Outstanding Notes
	  	 	41	  
	 Section 2.09
	  	 Treasury Notes
	  	 	42	  
	 Section 2.10
	  	 Temporary Notes
	  	 	42	  
	 Section 2.11
	  	 Cancellation
	  	 	42	  
	 Section 2.12
	  	 Defaulted Interest
	  	 	42	  
	 Section 2.13
	  	 CUSIP Numbers
	  	 	43	  
			
		  	ARTICLE 3	  			
		  	REDEMPTION AND PREPAYMENT	  			
			
	 Section 3.01
	  	 Notices to Trustee
	  	 	43	  
	 Section 3.02
	  	 Selection of Notes to Be Redeemed or Purchased
	  	 	43	  
	 Section 3.03
	  	 Notice of Redemption
	  	 	44	  
	 Section 3.04
	  	 Effect of Notice of Redemption
	  	 	45	  
	 Section 3.05
	  	 Deposit of Redemption or Purchase Price
	  	 	45	  
	 Section 3.06
	  	 Notes Redeemed or Purchased in Part
	  	 	45	  
	 Section 3.07
	  	 Optional Redemption
	  	 	45	  
	 Section 3.08
	  	 Mandatory Redemption; Open Market Purchases
	  	 	46	  
	 Section 3.09
	  	 Offer to Purchase by Application of Excess Proceeds
	  	 	46	  
			
		  	ARTICLE 4	  			
		  	COVENANTS	  			
			
	 Section 4.01
	  	 Payment of Notes
	  	 	48	  
	 Section 4.02
	  	 Maintenance of Office or Agency
	  	 	48	  
	 Section 4.03
	  	 Reports
	  	 	49	  
	 Section 4.04
	  	 Compliance Certificate
	  	 	50	  
	 Section 4.05
	  	 Taxes
	  	 	51	  
	 Section 4.06
	  	 Stay, Extension and Usury Laws
	  	 	51	  
	 Section 4.07
	  	 Restricted Payments
	  	 	51	  
	 Section 4.08
	  	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	 	54	  
	 Section 4.09
	  	 Incurrence of Indebtedness and Issuance of Preferred Stock
	  	 	55	  

							
	 	  	 	  	Page	 
	 Section 4.10
	  	 Asset Sales
	  	 	58	  
	 Section 4.11
	  	 Transactions with Affiliates
	  	 	59	  
	 Section 4.12
	  	 Liens
	  	 	61	  
	 Section 4.13
	  	 Business Activities
	  	 	61	  
	 Section 4.14
	  	 Corporate Existence
	  	 	61	  
	 Section 4.15
	  	 Offer to Repurchase Upon Change of Control
	  	 	61	  
	 Section 4.16
	  	 Additional Guarantees
	  	 	63	  
	 Section 4.17
	  	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	63	  
	 Section 4.18
	  	 Impairment of Security Interest
	  	 	63	  
	 Section 4.19
	  	 Post-Closing
	  	 	64	  
	 Section 4.20
	  	 Further Assurances
	  	 	64	  
			
		  	ARTICLE 5	  			
		  	SUCCESSORS	  			
			
	 Section 5.01
	  	 Merger, Consolidation, or Sale of Assets
	  	 	64	  
	 Section 5.02
	  	 Successor Corporation Substituted
	  	 	65	  
			
		  	ARTICLE 6	  			
		  	DEFAULTS AND REMEDIES	  			
			
	 Section 6.01
	  	 Events of Default
	  	 	65	  
	 Section 6.02
	  	 Acceleration
	  	 	67	  
	 Section 6.03
	  	 Other Remedies
	  	 	67	  
	 Section 6.04
	  	 Waiver of Past Defaults
	  	 	67	  
	 Section 6.05
	  	 Control by Majority
	  	 	68	  
	 Section 6.06
	  	 Limitation on Suits
	  	 	68	  
	 Section 6.07
	  	 Rights of Holders of Notes to Receive Payment
	  	 	68	  
	 Section 6.08
	  	 Collection Suit by Trustee
	  	 	69	  
	 Section 6.09
	  	 Trustee May File Proofs of Claim
	  	 	69	  
	 Section 6.10
	  	 Priorities
	  	 	69	  
	 Section 6.11
	  	 Undertaking for Costs
	  	 	70	  
			
		  	ARTICLE 7	  			
		  	TRUSTEE	  			
			
	 Section 7.01
	  	 Duties of Trustee
	  	 	70	  
	 Section 7.02
	  	 Rights of Trustee
	  	 	71	  
	 Section 7.03
	  	 Individual Rights of Trustee
	  	 	72	  
	 Section 7.04
	  	 Trustee’s Disclaimer
	  	 	72	  
	 Section 7.05
	  	 Notice of Defaults
	  	 	72	  
	 Section 7.06
	  	 Reports by Trustee to Holders of the Notes
	  	 	73	  
	 Section 7.07
	  	 Compensation and Indemnity
	  	 	73	  
	 Section 7.08
	  	 Replacement of Trustee
	  	 	74	  
	 Section 7.09
	  	 Successor Trustee by Merger, etc.
	  	 	75	  
	 Section 7.10
	  	 Eligibility; Disqualification
	  	 	75	  
	 Section 7.11
	  	 Preferential Collection of Claims Against Company
	  	 	75	  
			
		  	ARTICLE 8	  			
		  	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  			
			
	 Section 8.01
	  	 Option to Effect Legal Defeasance and Covenant Defeasance
	  	 	75	  
	 Section 8.02
	  	 Legal Defeasance and Discharge
	  	 	75	  
	 Section 8.03
	  	 Covenant Defeasance
	  	 	76	  
	 Section 8.04
	  	 Conditions to Legal or Covenant Defeasance
	  	 	76	  

  
 ii 

							
	 	  	 	  	Page	 
	 Section 8.05
	  	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	  	 	77	  
	 Section 8.06
	  	 Repayment to Company
	  	 	78	  
	 Section 8.07
	  	 Reinstatement
	  	 	78	  
			
		  	ARTICLE 9	  			
		  	AMENDMENT, SUPPLEMENT AND WAIVER	  			
			
	 Section 9.01
	  	 Without Consent of Holders of Notes
	  	 	78	  
	 Section 9.02
	  	 With Consent of Holders of Notes
	  	 	79	  
	 Section 9.03
	  	 Compliance with Trust Indenture Act
	  	 	81	  
	 Section 9.04
	  	 Revocation and Effect of Consents
	  	 	81	  
	 Section 9.05
	  	 Notation on or Exchange of Notes
	  	 	81	  
	 Section 9.06
	  	 Trustee to Sign Amendments, etc.
	  	 	81	  
			
		  	ARTICLE 10	  			
		  	COLLATERAL AND SECURITY	  			
			
	 Section 10.01
	  	 Grant of Security Interest
	  	 	82	  
	 Section 10.02
	  	 Recording and Opinions
	  	 	82	  
	 Section 10.03
	  	 Release of Collateral
	  	 	83	  
	 Section 10.04
	  	 [Reserved]
	  	 	84	  
	 Section 10.05
	  	 Authorization of Actions to Be Taken by the Trustee Under the Collateral Agreements
	  	 	84	  
	 Section 10.06
	  	 Authorization of Receipt of Funds by the Trustee Under the Collateral Agreements
	  	 	84	  
	 Section 10.07
	  	 Termination of Security Interest
	  	 	84	  
	 Section 10.08
	  	 Trustee’s Duties with Respect to Collateral
	  	 	85	  
			
		  	ARTICLE 11	  			
		  	GUARANTEES	  			
			
	 Section 11.01
	  	 Guarantee
	  	 	85	  
	 Section 11.02
	  	 Execution and Delivery of Guarantee
	  	 	86	  
	 Section 11.03
	  	 [Reserved]
	  	 	86	  
	 Section 11.04
	  	 Limitation of Liability of Certain Guarantors
	  	 	86	  
	 Section 11.05
	  	 Unconditional Guaranty
	  	 	86	  
	 Section 11.06
	  	 No Release Based on Actions of the Second Lien Secured Parties
	  	 	87	  
	 Section 11.07
	  	 Waivers
	  	 	87	  
	 Section 11.08
	  	 Continuing Guaranty; Reinstatement
	  	 	89	  
	 Section 11.09
	  	 Subordination; Subrogation; Contribution
	  	 	90	  
	 Section 11.10
	  	 Guarantors May Consolidate, etc., on Certain Terms
	  	 	92	  
	 Section 11.11
	  	 Releases
	  	 	92	  
			
		  	ARTICLE 12	  			
		  	SATISFACTION AND DISCHARGE	  			
			
	 Section 12.01
	  	 Satisfaction and Discharge
	  	 	93	  
	 Section 12.02
	  	 Application of Trust Money
	  	 	94	  
			
		  	ARTICLE 13	  			
		  	MISCELLANEOUS	  			
			
	 Section 13.01
	  	 Trust Indenture Act Controls
	  	 	94	  
	 Section 13.02
	  	 Notices
	  	 	95	  

  
 iii

							
	 	  	 	  	Page	 
	 Section 13.03
	  	 Communication by Holders of Notes with Other Holders of Notes
	  	 	96	  
	 Section 13.04
	  	 Certificate and Opinion as to Conditions Precedent
	  	 	96	  
	 Section 13.05
	  	 Statements Required in Certificate or Opinion
	  	 	96	  
	 Section 13.06
	  	 Rules by Trustee and Agents
	  	 	97	  
	 Section 13.07
	  	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	97	  
	 Section 13.08
	  	 Governing Law
	  	 	97	  
	 Section 13.09
	  	 No Adverse Interpretation of Other Agreements
	  	 	97	  
	 Section 13.10
	  	 Successors
	  	 	97	  
	 Section 13.11
	  	 Severability
	  	 	97	  
	 Section 13.12
	  	 Counterpart Originals
	  	 	97	  
	 Section 13.13
	  	 Table of Contents, Headings, etc.
	  	 	97	  
			
		  	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 GUARANTY
	  			
	 Exhibit F
	  	 FORM OF SUPPLEMENTAL INDENTURE
	  			

  
 iv 

 INDENTURE dated as of September 24, 2010 among RAAM Global Energy Company, a Delaware
corporation, the Guarantors (as defined herein) and The Bank of New York Mellon Trust Company, N.A., as Trustee and Collateral Agent. 
 The Company, the Guarantors 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 Company’s 12.50% Senior Secured
Notes due 2015 (the “Notes”): 
 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 that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 “ACNTA” (Adjusted Consolidated Net Tangible Assets) means (without duplication), as of the date of
determination: 
 (1) the sum of: 

(a) discounted future net revenue from proved crude oil and natural gas reserves of the Company and its Restricted
Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as estimated in a reserve report prepared by the Company as of the end of the Company’s most recently completed fiscal year, as increased by, as
of the date of determination, the discounted future net revenue from: 
 (i) estimated proved crude oil and
natural gas reserves of the Company and its Restricted Subsidiaries attributable to acquisitions consummated since the date of such year-end reserve report, and 

(ii) estimated crude oil and natural gas reserves of the Company and its Restricted Subsidiaries attributable to
extensions, discoveries and other additions and upward determinations of estimates of proved crude oil and natural gas reserves (including previously estimated development costs incurred during the period and the accretion of discount since the
prior year end) due to exploration, development or exploitation, production or other activities which reserves were not reflected in such year-end reserve report, 
 in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report), and decreased by, as of the date of determination, the discounted future net
revenue attributable to 
 (iii) estimated proved crude oil and natural gas reserves of the Company and its
Restricted Subsidiaries reflected in such year-end reserve report produced or disposed of since the date of such year-end reserve report and 

  
 1 

 (iv) reductions in the estimated proved crude oil and natural gas reserves
of the Company and its Restricted Subsidiaries reflected in such year-end reserve report since the date of such year-end reserve report attributable to downward determinations of estimates of proved crude oil and natural gas reserves due to
exploration, development or exploitation, production or other activities conducted or otherwise occurring since the date of such year-end reserve report, 
 in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report); 

(b) the capitalized costs that are attributable to crude oil and natural gas properties of the Company and its Restricted
Subsidiaries to which no proved crude oil and natural gas reserves are attributed, based on the Company’s books and records as of a date no earlier than the date of the Company’s latest annual or quarterly financial statements; 

(c) the Net Working Capital on a date no earlier than the date of the Company’s latest annual or quarterly financial
statements; and 
 (d) the greater of (I) the net book value on a date no earlier than the date of the
Company’s latest annual or quarterly financial statements and (II) the appraised value, as estimated by independent appraisers, of other tangible assets of the Company and its Restricted Subsidiaries as of a date no earlier than the date of the
Company’s latest audited financial statements; 
 (2) minus, to the extent not otherwise taken into account
in the immediately preceding clause (1), the sum of: 
 (a) minority interests; 

(b) any net gas balancing liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s
latest audited financial statements; 
 (c) the discounted future net revenue, calculated in accordance with SEC
guidelines (utilizing the same prices utilized in the Company’s year-end reserve report), attributable to reserves subject to participation interests, overriding royalty interests or other interests of third parties, pursuant to participation,
partnership, vendor financing or other agreements then in effect, or which otherwise are required to be delivered to third parties; 
 (d) the discounted future net revenue, calculated in accordance with SEC guidelines (utilizing the same prices utilized in the Company’s year-end reserve report), attributable to reserves that are
required to be delivered to third parties to fully satisfy the obligations of the Company and its Restricted Subsidiaries with respect to Volumetric Production Payments on the schedules specified with respect thereto; and 

(e) the discounted future net revenue, calculated in accordance with SEC guidelines, attributable to reserves subject to
Dollar-Denominated Production Payments that, based on the estimates of production included in determining the discounted future net revenue specified in the immediately preceding clause (1)(a) (utilizing the same

  
 2 

 
prices utilized in the Company’s year-end reserve report), would be necessary to satisfy fully the obligations of the Company and its Restricted Subsidiaries with respect to
Dollar-Denominated Production Payments on the schedules specified with respect thereto. 
 If the Company changes its method of
accounting for its oil and gas properties from the full cost method to the successful efforts method or a similar method of accounting, ACNTA will continue to be calculated as if the Company were still using the full cost method of accounting.

 “Acquired Debt” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person was merged with or into or became a Subsidiary
of such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Subsidiary of, such specified Person; and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

“Additional Assets” means: 
 (1) any assets used or useful in the Oil and Gas Business; 
 (2)
the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or 

(3) Capital Stock constituting a minority in any Person that at such time is a Restricted Subsidiary; 

provided, however, that any such Restricted Subsidiary described in clause (2) or (3) is primarily engaged in the Oil and Gas Business.

 “Additional Interest” means all additional interest then owing pursuant to the Registration Rights
Agreement. 
 “Additional Notes” means additional Notes (other than the Initial Notes) issued under this
Indenture in accordance with Sections 2.02 and 4.09 hereof, as part of the same series as the Initial Notes. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to be control. For
purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent. 

“Applicable Premium” means, as calculated by the Company, with respect to any Note on any redemption date, the greater
of: 

  
 3 

 (1) 1.0% of the principal amount of the Note; and 

(2) the excess of: (a) the present value at the redemption date of (i) the redemption price of the Note at
October 1, 2014 (without regard to accrued and unpaid interest) (such redemption price being set forth in the table appearing in Section 3.07(a) hereof) plus (ii) all required interest payments due on the Note through October 1,
2014, (excluding accrued but unpaid interest to the applicable redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the principal amount of such Note. 

“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. 

“Asset Sale” means: 
 (1) the sale, lease, conveyance or other disposition of any properties or assets (including by way of a Production Payment or sale and leaseback transaction); provided that the disposition of all
or substantially all of the properties or assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by Section 4.15 and/or Section 5.01 and not by the provisions of the Asset Sale covenant; and 

(2) the issuance of Equity Interests in any of the Company’s Restricted Subsidiaries or the sale of Equity Interests
in any of its Restricted Subsidiaries. 
 Notwithstanding the preceding, the following items will not be deemed
to be Asset Sales: 
 (1) any single transaction or series of related transactions that involves properties or
assets having a Fair Market Value of less than $2.0 million; 
 (2) a transfer of assets between or among any of
the Company and its Restricted Subsidiaries, 
 (3) an issuance or sale of Equity Interests by a Restricted
Subsidiary to the Company or to another Restricted Subsidiary; 
 (4) the sale, lease or other disposition of
hydrocarbons, equipment, inventory, accounts receivable or other properties or assets in the ordinary course of business, including, without limitation, any abandonment, farm-in, farm-out, lease or sublease of any oil and gas properties or the
forfeiture or other disposition of such properties pursuant to standard form operating agreements, in each case in the ordinary course of business in a manner customary in the Oil and Gas Business; 

(5) the sale or other disposition of cash or Cash Equivalents; 

(6) a Restricted Payment that is permitted by Section 4.07 or a Permitted Investment; 

(7) any trade or exchange by the Company or any Restricted Subsidiary of oil and gas properties or other properties or
assets for oil and gas properties or other properties or assets owned or held by another Person, provided that the Fair Market Value of the properties or assets traded or exchanged by the Company or such Restricted Subsidiary (together with
any cash) is 

  
 4 

 
reasonably equivalent to the Fair Market Value of the properties or assets (together with any cash) to be received by the Company or such Restricted Subsidiary, and provided further that
any net cash received must be applied in accordance with the provisions of Section 4.10; 
 (8) the creation
or perfection of a Lien (but not the sale or other disposition of the properties or assets subject to such Lien) in accordance with the limitations set forth in Section 4.12 hereof; 

(9) surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of
any kind; and 
 (10) the granting of royalty interests or other interests in oil and gas properties to
employees, consultants (or directors) in accordance with the terms of the After Payout Overriding Royalty Interest Program and the Employee Drilling Bonus Plan or similar compensation agreements approved by the Board of Directors. 

“Attributable Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present
value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended or may, at the option of the lessor, be
extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or
exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and “Beneficially Owned” have correlative meanings.

 “Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation; 

(2) with respect to a partnership, the Board of Directors of the general partner of the partnership; 

(3) with respect to any other Person, the board or committee of such Person serving a similar function. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the applicable
Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York are authorized or required by law to close. If a payment date
is not a 

  
 5 

 
Business Day at a place of payment, payment may be made at that place on the next succeeding day that is a Business Day, and no interest shall accrue on such payment for the intervening period.

 “Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability
in respect of a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such
lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Capital Stock” means: 
 (1) in the case of a corporation, corporate stock; 
 (2) in the
case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and 

(4) any other interest or participation that confers on a Person the right to receive a share of the profits and losses
of, or distributions of assets of, the issuing Person; 
 but excluding from all of the foregoing any debt
securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock. 
 “Cash Equivalents” means: 
 (1) United States
dollars; 
 (2) securities issued or directly and fully guaranteed or insured by the United States government or
any agency or instrumentality of the United States government (provided that the full faith and credit of the United States is pledged in support of those securities) having maturities of not more than six months from the date of acquisition;

 (3) certificates of deposit and eurodollar time deposits with maturities of six months or less from the date
of acquisition, bankers’ acceptances with maturities not exceeding six months and overnight bank deposits, in each case, with any lender party to the Senior Credit Agreement or with any domestic commercial bank having capital and surplus in
excess of $500.0 million and a Thomson Bank Watch Rating of “B” or better; 
 (4) repurchase
obligations with a term of not more than seven days for underlying securities of the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above;

 (5) commercial paper having the highest rating obtainable from Moody’s Investors Service, Inc. or
Standard & Poor’s Ratings Services and in each case maturing within six months after the date of acquisition; and 
 (6) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds described in clauses (1) through (5) of this definition. 

  
 6 

 “Change of Control” means the occurrence of any of the following:

 (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger
or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets (including Capital Stock) of the Company and its Subsidiaries taken as a whole to any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) other than one or more Permitted Holders; 
 (2) the adoption of a
plan relating to the liquidation or dissolution of the Company; 
 (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of which is that any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than one or more Permitted Holders,
becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares, other than, with respect to a merger or consolidation, a transaction in which the
Voting Stock of the Company outstanding immediately prior to such transaction is converted into or exchanged for Voting Stock (other than Disqualified Stock) of the surviving or transferee Person (or any parent thereof) constituting a majority of
the outstanding shares of such Voting Stock of such surviving or transferee Person (or any parent thereof) immediately after giving effect to such transaction; or 

(4) the first day on which a majority of the members of the Board of Directors of the Company are not Continuing
Directors. 
 “Clearstream” means Clearstream Banking, S.A. 

“Collateral” means collateral as such term is defined in the security agreements, and any other property, whether now
owned or hereafter acquired, upon which a Lien securing the Obligations under this Indenture, the Collateral Agreements, the Notes or the Guarantees is granted or purported to be granted under any Collateral Agreement; provided, however, that
“Collateral” shall not include any Excluded Collateral. 
 “Collateral Agent” means the Trustee
acting in its capacity as the collateral agent for the Second Lien Secured Parties in this Indenture until a successor replaces it in accordance with the provisions of this Indenture and thereafter means any such successor. 

“Collateral Agreements” means, collectively, the Intercreditor Agreement, the Security Agreement, the Mortgage and each
other collateral agreement, deposit control agreement, securities control agreement or other document or instrument creating Liens in favor of the Collateral Agent as required by this Indenture, in each case, as the same may be in force from time to
time. 
 “Commission” or “SEC” means the Securities and Exchange Commission. 

“Company” means RAAM Global Energy Company, and any and all successors thereto. 

“Consolidated Cash Flow” means, with respect to any specified Person for any period, the Consolidated Net Income of such
Person for such period plus: 
 (1) provision for taxes based on income or profits of such Person and its
Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 

  
 7 

 (2) consolidated interest expense of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued and whether or not capitalized (including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest payments, the interest component of any deferred
payment obligations, the interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or
bankers’ acceptance financings), and net of the effect of all payments made or received pursuant to interest rate Hedging Obligations, to the extent that any such expense was deducted in computing such Consolidated Net Income; plus 

(3) depreciation, depletion and amortization (including amortization of intangibles but excluding amortization of prepaid
cash expenses that were paid in a prior period), impairment, exploration expense, and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or
amortization of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, depletion and amortization, impairment and other non-cash expenses were
deducted in computing such Consolidated Net Income; plus 
 (4) unrealized non-cash losses resulting from foreign
currency balance sheet adjustments required by GAAP to the extent such losses were deducted in computing such Consolidated Net Income; minus 
 (5) non-cash items increasing such Consolidated Net Income for such period, other than items that were accrued in the ordinary course of business; minus (to the extent included in determining Consolidated
Net Income). 
 “Consolidated Net Income” means, with respect to any specified Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that: 

(1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or that is accounted for by the equity
method of accounting will be excluded, except to the extent of the amount of dividends or distributions paid in cash to the specified Person or a Restricted Subsidiary of the Person; 

(2) the Net Income of any Restricted Subsidiary that is not a Guarantor will be excluded to the extent that the
declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained) or, directly or
indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, partners or members; 

(3) the cumulative effect of a change in accounting principles will be excluded; 

(4) income resulting from transfers of assets (other than cash) between the Company or any of its Restricted Subsidiaries,
on the one hand, and an Unrestricted Subsidiary, on the other hand, will be excluded; 

  
 8 

 (5) any write-downs of non-current assets will be excluded; provided that
any ceiling limitation write-downs under Commission guidelines shall be treated as capitalized costs, as if such write-downs had not occurred; 
 (6) any unrealized non-cash gains or losses or charges in respect of hedge or non-hedge derivatives will be excluded; 

(7) any non-cash compensation charge arising from any grant of stock, stock options or other equity-based awards will be
excluded; 
 (8) any item classified as an extraordinary, unusual or nonrecurring gain, loss or charge will be
excluded; and 
 (9) all deferred financing costs written off and premiums or penalty paid in connection with any
early extinguishment of Indebtedness will be excluded. 
 “Continuing Directors” means, as of any date of
determination, any member of the Board of Directors of the Company, as applicable, who: 
 (1) was a member of
such Board of Directors on the date hereof; or 
 (2) was nominated for election or elected to such Board of
Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 
 “Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in Section 13.02 hereof or such other address as to which the Trustee may give notice to the
Company. 
 “Credit Facilities” means one or more first-priority secured debt facilities (including, without
limitation, the Senior Credit Agreement), commercial paper facilities or capital markets financings, in each case with banks or other institutional lenders or institutional investors providing for revolving credit loans, term loans, receivables
financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from (or sell receivables to) such lenders against such receivables), letters of credit or capital markets financings, in each case,
as amended, restated, modified, renewed, refunded, replaced or refinanced (including by means of sales of debt securities) in whole or in part from time to time. 
 “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any successor entity thereto. 

“Default” means any event that is, or with the passage 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 2.01 or 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 

  
 9 

 
all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case at the option of the Holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable
at the option of the Holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified
Stock solely because the Holders of the Capital Stock have the right to require the Company to repurchase or redeem such Capital Stock upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock if the terms of
such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 4.07 hereof. 

“Dollar-Denominated Production Payments” means production payment obligations recorded as liabilities in accordance with
GAAP, together with all undertakings and obligations in connection therewith. 
 “Domestic Subsidiary” means
any Restricted Subsidiary of the Company that was formed under the laws of the United States or any state of the United States or the District of Columbia or that guarantees or otherwise provides direct credit support for any Indebtedness of the
Company. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital
Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity
Offering” means any public or private sale of Capital Stock (other than Disqualified Stock) made for cash on a primary basis by the Company after the date of this Indenture. 

“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. 

“Exchange Notes” means the Notes (including any Additional Notes) issued in a Registered Exchange Offer pursuant to
Section 2.06(f) hereof. 
 “Exchange Offer Registration Statement” has the meaning set forth in the
Registration Rights Agreement. 
 “Excluded Collateral” means: 

(1) any Capital Stock of any Foreign Subsidiary in excess of 66% of the Capital Stock of such Foreign Subsidiary or any
property or assets of any Foreign Subsidiary; 
 (2) any Capital Stock of any Subsidiary to the extent (and only
to the extent) that in the reasonable judgment of the Company, if such Capital Stock were not excluded from the Collateral then Rule 3-16 or Rule 3-10 of Regulation S-X under the Securities Act would require the filing of separate financial
statements of such Subsidiary with the SEC (or any other governmental agency) in connection with a registration of the Notes under the Securities Act; 

  
 10 

 (3) any permit or license or any contractual obligation entered into by the
Company or any Guarantor (A) that prohibits or requires the consent of any Person other than the Company or any of its Affiliates as a condition to the creation by the Company or such Guarantor of a Lien on any right, title or interest in such
permit, license or contractual agreement or any Capital Stock or equivalent related thereto or (B) to the extent that any requirement of law applicable thereto prohibits the creation of a Lien thereon, but only, with respect to the prohibition
in (A) and (B), to the extent, and for as long as, such prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the Uniform Commercial Code or any other requirement of law; 

(4) fixed or capital assets owned by the Company or any Guarantor that is subject to a purchase money Lien or a capital
lease if the contractual obligation pursuant to which such Lien is granted (or in the document providing for such capital lease) prohibits or requires the consent of any Person other than the Company or any of its Affiliates as a condition to the
creation of any other Lien on such equipment; 
 (5) Collateral that has been released in accordance with the
Intercreditor Agreement or this Indenture; and 
 (6) other property or assets owned by the Company or any
Guarantor that is not subject to Liens securing any First Lien Obligations; 
 “Existing Indebtedness” means
the aggregate principal amount of Indebtedness of the Company and its Restricted Subsidiaries in existence on the date hereof, until such amounts are repaid. 
 “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress or necessity of either party,
determined in good faith by the Board of Directors of the Company (unless otherwise provided in this Indenture). 

“First Lien Agreement” means (i) the Senior Credit Agreement and (ii) any other credit agreement, loan
agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to extend, replace, refinance or refund in whole or
in part the indebtedness and other obligations outstanding under the Senior Credit Agreement or any other agreement or instrument referred to in this clause (ii). 
 “First Lien Collateral Agent” means the collateral agent for the First Lien Secured Parties named in any First Lien Debt Document and any successor or replacement collateral agent
designated as such by the holders of First Lien Obligations. 
 “First Lien Debt Documents” means,
collectively, all agreements, instruments and other documents evidencing, governing or providing any Lien for the benefit of any First Lien Obligations. 
 “First Lien Obligations” means, collectively, 

(1) all principal of and interest and premium (if any) on all loans made pursuant to the First Lien Agreement and any
other Indebtedness incurred pursuant to a Credit Facility to the extent that such Indebtedness is secured equally and ratably with the other First Lien Obligations by the Liens on the Collateral, 

(2) reimbursement obligations (if any) and interest thereon with respect to any letter of credit or similar instruments
issued pursuant to the First Lien Agreement, 

  
 11 

 (3) all Hedging Obligations of the Company or any Guarantor, and 

(4) all fees, expenses and other amounts payable from time to time pursuant to the First Lien Debt Documents. 

“First Lien Secured Parties” means the holders of the First Lien Obligations and the First Lien Collateral Agent.

 “Fixed Charge Coverage Ratio” means with respect to any specified Person for any four-quarter reference
period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays,
repurchases or redeems any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the applicable four-quarter reference period and on or prior to the date on
which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption,
guarantee, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom as if the same had occurred at the beginning of such period. 

In addition, for purposes of calculating the Fixed Charge Coverage Ratio: 

(1) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through
mergers or consolidations and including any related financing transactions, subsequent to the commencement of the applicable four-quarter reference period and on or prior to the Calculation Date will be given pro forma effect as if they had occurred
on the first day of such period, including any Consolidated Cash Flow (with such pro forma adjustments to be made in good faith by the Company whether or not permitted by Regulation S-X promulgated under the Securities Act or any other regulation or
policy of the Commission related thereto); 
 (2) the Consolidated Cash Flow attributable to discontinued
operations, as determined in accordance with GAAP, and assets, operations or businesses disposed of prior to the Calculation Date, will be excluded; and 
 (3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and assets, operations or businesses disposed of prior to the Calculation Date, will be excluded, but
only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Restricted Subsidiaries following the Calculation Date; 

(4) any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary
at all times during such four-quarter period; 
 (5) any Person that is not a Restricted Subsidiary on the
Calculation Date will be deemed not to have been a Restricted Subsidiary at any time during such four-quarter period; and 
 (6) if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if the rate in effect on the Calculation Date had been the applicable rate for
the entire period (taking into account any Hedging Obligation applicable to 

  
 12 

 
such Indebtedness if such Hedging Obligation has a remaining term as at the Calculation Date in excess of 12 months). 
 “Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of: 

(1) the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or
accrued including, without limitation, amortization of debt issuance costs (excluding prepayment penalties associated with the repayment of debt from the proceeds of the offering of the Notes) and original issue discount, non-cash interest payments,
the interest component of any deferred payment obligations, the interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges
incurred in respect of letter of credit or bankers’ acceptance financings), and net of the effect of all payments made or received pursuant to interest rate Hedging Obligations; plus 

(2) the consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such
period; plus 
 (3) any interest expense on Indebtedness of another Person that is guaranteed by such Person or
one of its Restricted Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon; plus 

(4) all dividends, whether paid or accrued and whether or not in cash, on any series of preferred stock of such Person or
any of its Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary of the Company, 

in each case, on a consolidated basis and in accordance with GAAP. 
 “Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not a Domestic Subsidiary. 
 “GAAP” means generally accepted accounting principles in the United States, which are in effect from time to time. 

“Global Note Legend” means the legend set forth in Section 2.06(g)(2) 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 Depository 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)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Governmental Authority” means the
government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive,
legislative, 

  
 13 

 
judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).

 The term “guarantee” or “guaranty” means a guarantee other than by endorsement of
negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of
all or any part of any Indebtedness. When used as a verb, “guarantee” or “guaranty”, as applicable, has a correlative meaning. 
 “Guarantee” means any guarantee by a Guarantor of the Company’s payment Obligations under this Indenture and on the Notes. 

“Guarantors” means each Restricted Subsidiary of the Company that executes this Indenture as an initial Guarantor or
that becomes a Guarantor in accordance with the provisions of this Indenture, and their respective successors and assigns. 

“Guaranteed Obligations” means, collectively, 

(1) the prompt and full payment of the principal of, premium and Additional Interest, if any, and interest on, the Notes
when due, whether at maturity, by acceleration, redemption or otherwise, and the prompt and full payment of the interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other Obligations of the Company to the
Holders or the Trustee under the Indenture Documents, including all amounts that constitute part of the Guaranteed Obligations and would be owed by the Company but for the fact that they are unenforceable or not allowable due to the existence of a
bankruptcy, reorganization or similar proceeding involving the Company; and 
 (2) in case of any extension of
time of payment or renewal of any Notes or any of such other Guaranteed Obligations, the prompt and full payment when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or
otherwise. 
 “Hedging Obligations” means, with respect to any specified Person, the obligations of such Person
incurred in the normal course of business and not for speculative purposes under: 
 (1) interest rate swap
agreements, interest rate cap agreements and interest rate collar agreements entered into with one of more financial institutions and designed to protect the Person or any of its Restricted Subsidiaries entering into the agreement against
fluctuations in interest rates with respect to Indebtedness incurred and not for purposes of speculation; 
 (2)
foreign exchange contracts and currency protection agreements entered into with one of more financial institutions and designed to protect the Person or any of its Restricted Subsidiaries entering into the agreement against fluctuations in currency
exchanges rates with respect to Indebtedness incurred and not for purposes of speculation; 
 (3) any commodity
futures contract, commodity option or other similar agreement or arrangement designed to protect against fluctuations in the price of oil, natural gas or other commodities used, produced, processed or sold by that Person or any of its Restricted
Subsidiaries at the time; and 

  
 14 

 (4) other agreements or arrangements designed to protect such Person or any
of its Restricted Subsidiaries against fluctuations in interest rates, commodity prices or currency exchange rates. 

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

“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.  
 “Indebtedness” means, with respect to any specified Person (excluding accrued expenses
and trade payables), without duplication, 
 (1) all obligations of such Person, whether or not contingent, in
respect of: 
 (a) the principal of and premium, if any, in respect of outstanding (A) Indebtedness of such
Person for money borrowed and (B) Indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable; 

(b) all Capital Lease Obligations of such Person and all Attributable Debt in respect of sale and leaseback transactions
entered into by such Person; 
 (c) the deferred purchase price of property, which purchase price is due more
than six months after the date of taking delivery of title to such property, including all obligations of such Person for the deferred purchase price of property under any title retention agreement, but excluding accrued expenses and trade accounts
payable arising in the ordinary course of business; and 
 (d) the reimbursement obligation of any obligor for
the principal amount of any letter of credit, banker’s acceptance or similar transaction (excluding obligations with respect to letters of credit securing obligations (other than obligations described in clauses (a) through (c) above)
entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the tenth Business Day following receipt by such
Person of a demand for reimbursement following payment on the letter of credit); 
 (2) all net obligations in
respect of Hedging Obligations except to the extent such net obligations are otherwise included in this definition; 
 (3) all liabilities of others of the kind described in the preceding clause (1) or (2) that such Person has Guaranteed or that are otherwise its legal liability; 

(4) with respect to any Production Payment, any warranties or guaranties of production or payment by such Person with
respect to such Production Payment but excluding other contractual obligations of such Person with respect to such Production Payment; 
 (5) Indebtedness (as otherwise defined in this definition) of another Person secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person, the amount of such
obligations being deemed to be the lesser of 

  
 15 

 (a) the full amount of such obligations so secured, and 

(b) the Fair Market Value of such asset as determined in good faith by such specified Person; 

(6) Disqualified Stock of such Person or a Restricted Subsidiary in an amount equal to the greater of the maximum
mandatory redemption or repurchase price (not including, in either case, any redemption or repurchase premium) or the liquidation preference thereof; 
 (7) the aggregate preference in respect of amounts payable on the issued and outstanding shares of preferred stock of any of the Company’s Restricted Subsidiaries that are not Guarantors in the event
of any voluntary or involuntary liquidation, dissolution or winding up (excluding any such preference attributable to such shares of preferred stock that are owned by such Person or any of its Restricted Subsidiaries; provided, that if such Person
is the Company, such exclusion shall be for such preference attributable to such shares of preferred stock that are owned by the Company or any of its Restricted Subsidiaries); and 

(8) any and all deferrals, renewals, extensions, refinancings and refundings (whether direct or indirect) of, or
amendments, modifications or supplements to, any liability of the kind described in any of the preceding clauses (1), (2), (3), (4), (5), (6), (7) or this clause (8), whether or not between or among the same parties. 

if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a
balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is
assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person. Subject to clause (4) of the preceding sentence, Production Payments shall not be deemed
to be Indebtedness. 
 “Indenture” means this Indenture, as amended or supplemented from time to time.

 “Indenture Documents” means, collectively, this Indenture, the Notes, the Guarantees and the Collateral
Agreements. 
 “Intercreditor Agreement” means the intercreditor agreement that is entered into as of the date
hereof by and among the Trustee, the Collateral Agent, the First Lien Collateral Agent, the Company and the Guarantors, and the other signatories thereto, as the same may be amended, supplemented, restated or modified 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 first $150,000,000 aggregate principal amount of Notes issued under this Indenture
on the date hereof, and any Notes issued upon registration of transfer thereof or in exchange therefor. 
 “Initial
Purchaser” means each of Global Hunter Securities, LLC and Knight Libertas LLC. 
 “Insolvency
Proceeding” means any proceeding in respect of bankruptcy, insolvency, winding up, receivership, dissolution or assignment for the benefit of creditors, in each of the foregoing events

  
 16 

 
whether under the Bankruptcy Law or any similar federal, state or foreign bankruptcy, insolvency, reorganization, receivership or similar law. 

“Institutional Accredited Investor” means an institution that is an “accredited investor” as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act, as amended, who are not also QIBs. 

“Investments” means, with respect to any Person, all direct or indirect investments by such Person in other Persons
(including Affiliates) in the forms of loans (including guarantees or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees made in the ordinary course of business),
purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, together with all items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. If the Company or
any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a
Restricted Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such sale or disposition in an amount equal to the Fair Market Value of the Equity Interests of such Restricted Subsidiary not sold or
disposed of in an amount determined as provided in Section 4.07. The acquisition by the Company or any Subsidiary of the Company of a Person that holds an Investment in a third Person will not be deemed to be an Investment by the Company or
such Subsidiary in such third Person unless such Investment in such third Person was contemplated by the Company or such Subsidiary and not incidental to the acquisition of such Person. 

“Issue Date” means September 24, 2010. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of payment are authorized by law, regulation or executive order to
remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. 

“Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the
Notes for use by such Holders in connection with the Registered Exchange Offer. 
 “Lien” means, with respect
to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title
retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of
any jurisdiction other than a precautionary financing statement not intended as a security agreement. 

“Mortgage” means that certain Deed of Trust, Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
Statement that is entered into on or prior to the date set forth in Section 4.19 by and among the trustee thereunder, the Collateral Agent, Century Exploration New Orleans, Inc. and Century Exploration Houston, Inc., as the same may be amended,
supplemented, restated or modified from time to time. 
 “Net Income” means, with respect to any specified
Person, the net income (loss) of such Person, determined in accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however: 

  
 17 

 (1) any gain or loss, together with any related provision for taxes realized
in connection with (a) any Asset Sale; or (b) the disposition of any securities by such Person or any of its Subsidiaries or the extinguishment of any Indebtedness of such Person or any of its Subsidiaries; and 

(2) any extraordinary gain or loss, together with any related provision for taxes on such extraordinary gain or loss.

 “Net Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted
Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of, without duplication: 

(1) the direct costs relating to such Asset Sale, including, without limitation, legal, accounting and investment banking
fees, and sales commissions, and any relocation expenses incurred as a result of the Asset Sale, 
 (2) taxes
paid or payable as a result of the Asset Sale, in each case, after taking into account any available tax credits or deductions and any tax sharing arrangements, 
 (3) amounts required to be applied to the repayment of Indebtedness secured by a Lien on the properties or assets that were the subject of such Asset Sale, and 

(4) any reserve for adjustment in respect of the sale price of such properties or assets established in accordance with
GAAP. 
 “Net Working Capital” means: 

(1) all current assets of the Company and its Restricted Subsidiaries, minus 

(2) all current liabilities of the Company and its Restricted Subsidiaries, except current liabilities included in
Indebtedness; 
 in each case, on a consolidated basis and determined in accordance with GAAP. 

“Non-Recourse Debt” means Indebtedness: 

(1) as to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind
(including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise, or (c) is the lender; 

(2) no default with respect to which (including any rights that the holders of the Indebtedness may have to take
enforcement action against an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness (other than the Notes) of the Company or any of its Restricted Subsidiaries to declare a default on such
other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity; and 
 (3) as to which the lenders have been notified in writing that they will not have any recourse to the stock or assets of the Company or any of its Restricted Subsidiaries. 

  
 18 

 “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 principal, premium, if any, interest (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization, whether or not a claim for post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses, indemnifications, reimbursement obligations, damages, guarantees, and other liabilities
or amounts payable under the documentation governing any Indebtedness or in respect thereto. 
 “Officer”
means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any
Vice-President of such Person. 
 “Officers’ Certificate” means a certificate signed on behalf of the
Company by two Officers of the Company, one of whom must be the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company, that meets the requirements of Section 13.05 hereof.

 “Oil and Gas Business” means: 

(1) the acquisition, exploration, development, operation and disposition of interests in oil, natural gas and other
hydrocarbon properties; 
 (2) the gathering, marketing, treating, processing (but not refining), storage,
selling and transporting of any production from those interests, including any hedging activities related thereto; and 
 (3) any activity necessary, appropriate, incidental or reasonably related to the activities described above. 
 “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee, that meets the requirements of Section 13.05 hereof. The counsel may be an
employee of or counsel to the Company or any Subsidiary of the Company. 
 “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). 

“Participating Broker-Dealer” has the meaning set forth in the Registration Rights Agreement. 

“Permitted Business Investments” means Investments made in the ordinary course of, and of a nature that is or shall have
become customary in, the Oil and Gas Business, including through agreements, transactions, interests or arrangements that permit one to share risk or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives
customarily achieved through the conduct of the Oil and Gas Business jointly with third parties, including without limitation: 

  
 19 

 (1) direct or indirect ownership of crude oil, natural gas, other related
hydrocarbon and mineral properties or any interest therein or gathering, transportation, processing, storage or related systems; and 
 (2) the entry into operating agreements, joint ventures, processing agreements, working interests, royalty interests, mineral leases, farm-in agreements, farm-out agreements, development agreements,
production sharing agreements, area of mutual interest agreements, contracts for the sale, transportation or exchange of crude oil and natural gas and related hydrocarbons and minerals, unitization agreements, pooling arrangements, joint bidding
agreements, service contracts, partnership agreements (whether general or limited), or other similar or customary agreements, transactions, properties, interests or arrangements and Investments and expenditures in connection therewith or pursuant
thereto, in each case made or entered into in the ordinary course of the Oil and Gas Business, excluding, however, Investments in corporations and publicly-traded limited partnerships. 

“Permitted Holders” means Howard A. Settle, Jonathan Rudney or their respective family members, heirs or their
successors, beneficiaries or any trust, foundation or other entity controlled by or established for the benefit of any of the foregoing, or any of their respective Affiliates. 
 “Permitted Investments” means: 
 (1) any
Investment in the Company or in a Restricted Subsidiary of the Company; 
 (2) any Investment in Cash
Equivalents; 
 (3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as
a result of such Investment: 
 (a) such Person becomes a Restricted Subsidiary of the Company; or 

(b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its
properties or assets to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 
 (4) any
Investment made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to and in compliance with Section 4.10; 
 (5) any Investment in any Person solely in exchange for the issuance of Equity Interests (other than Disqualified Stock) of the Company; 

(6) any Investments received in compromise of obligations of trade creditors or customers that were incurred in the
ordinary course of business, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade creditor or customer; 

(7) Hedging Obligations permitted to be incurred pursuant to Section 4.09; 

(8) Permitted Business Investments; 

(9) any repurchases of Notes permitted pursuant to the terms of this Indenture, including open market purchases of the
Notes; and 

  
 20 

 (10) other Investments in any Person having an aggregate Fair Market Value
(measured on the date each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (10) that are at the time outstanding, not to exceed
$10.0 million. 
 “Permitted Liens” means: 

(1) Liens on any property or assets securing Indebtedness and other obligations under Credit Facilities permitted under
this Indenture; 
 (2) Liens in favor of the Company or the Guarantors; 

(3) Liens on any property or assets of a Person existing at the time such Person is merged with or into or consolidated
with the Company or any Restricted Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any property or assets other than those of the Person
merged into or consolidated with the Company or the Restricted Subsidiary; 
 (4) Liens on any property or assets
existing at the time of acquisition thereof by the Company or any Restricted Subsidiary of the Company, provided that such Liens were not incurred in connection with the contemplation of such acquisition; 

(5) Liens to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other
obligations of a like nature incurred in the ordinary course of business; 
 (6) Liens existing on the Issue
Date; 
 (7) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases
entered into by the Company and its Restricted Subsidiaries in the ordinary course of business; 
 (8) Liens
securing Permitted Refinancing Indebtedness incurred to refinance Indebtedness that was previously so secured, provided that any such Lien is limited to all or part of the same property or assets (plus improvements, replacements, accessions,
proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property that is the security for a
Permitted Lien hereunder; 
 (9) Liens securing Hedging Obligations of the Company or any of its Restricted
Subsidiaries; 
 (10) Liens securing Indebtedness incurred in connection with the acquisition by the Company or
any Restricted Subsidiary of assets used in the Oil and Gas Business (including the office buildings and other real property used by the Company or such Restricted Subsidiary in conducting its operations); provided that (i) such Liens attach
only to the assets acquired with the proceeds of such Indebtedness; (ii) such Indebtedness is not in excess of the purchase price of such fixed assets; and (iii) such Indebtedness is permitted to be incurred pursuant to Section 4.09;

 (11) any Lien incurred in the ordinary course of business incidental to the conduct of the business of the
Company or the Restricted Subsidiaries or the ownership of their property 

  
 21 

 
(including (a) easements, rights of way and similar encumbrances, (b) rights or title of lessors under leases (other than Capital Lease Obligations), (c) rights of collecting banks
having rights of setoff, revocation, refund or chargeback with respect to money or instruments of the Company or the Restricted Subsidiaries on deposit with or in the possession of such banks, (d) Liens imposed by law, including Liens under
workers’ compensation or similar legislation and mechanics’, carriers’, warehousemen’s, materialmen’s, suppliers’ and vendors’ Liens, and (e) Liens incurred to secure performance of obligations with respect to
statutory or regulatory requirements, performance or return-of-money bonds, surety bonds or other obligations of a like nature and incurred in a manner consistent with industry practice; 

(12) Liens for taxes, assessments and governmental charges not yet due or the validity of which are being contested in
good faith by appropriate proceedings, promptly instituted and diligently conducted, and for which adequate reserves have been established to the extent required by GAAP as in effect at such time; 

(13) Liens incurred with respect to obligations that do not exceed $10.0 million at any one time outstanding; and

 (14) Liens created for the benefit of (or to secure) Second Lien Obligations permitted pursuant to any
Indenture Document or the Registration Rights Agreement. 
 “Permitted Refinancing Indebtedness” means any
Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted
Subsidiaries (other than intercompany Indebtedness); provided that: 
 (1) the principal amount (or
accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded (plus all
accrued interest on the Indebtedness and the amount of all expenses and premiums incurred in connection therewith); 
 (2) such Permitted Refinancing Indebtedness has a final maturity date no earlier than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average
Life to Maturity of, the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; 
 (3)
if the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded is subordinated in right of payment to the Notes or the Guarantees, such Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes or
the Guarantees on terms at least as favorable to the Holders of Notes as those contained in the documentation governing the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; and 

(4) such Indebtedness is not incurred by a Restricted Subsidiary of the Company if the Company is the obligor on the
Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded; provided, however, that a Restricted Subsidiary that is also a Guarantor may guarantee Permitted Refinancing Indebtedness incurred by the Company, whether or not such
Restricted Subsidiary was an obligor or guarantor of the Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded. 

  
 22 

 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

“Private Placement Legend” means the legend set forth in Section 2.06(g)(1) hereof to be placed on all Notes issued
under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “Production
Payments” means, collectively, Dollar-Denominated Production Payments and Volumetric Production Payments. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Registered Exchange Offer” has the meaning set forth for such term in the Registration Rights Agreement. 

“Registration Rights Agreement” means (i) the Registration Rights Agreement, dated as of September 24, 2010,
among the Company, the Guarantors and the other parties named on the signature pages thereof, as such agreement may be amended, modified or supplemented from time to time and (ii) with respect to any Additional Notes, one or more registration
rights agreements among the Company, the Guarantors and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights given by the Company to the purchasers of Additional Notes to
register such Additional Notes under the Securities Act 
 “Regulation S” means Regulation S promulgated under
the Securities Act. 
 “Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S
Permanent Global Note, as appropriate. 
 “Regulation S Permanent Global Note” means a permanent Global Note 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 Regulation S Temporary Global Note upon expiration of the Restricted Period. 
 “Regulation S Temporary
Global Note” means a temporary Global Note in the form of Exhibit A hereto 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 initially 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 department of the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and
familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 

“Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

  
 23 

 “Restricted Investment” means an Investment other than a Permitted
Investment. 
 “Restricted Period” means the 40-day distribution compliance period as defined in Regulation S.

 “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted
Subsidiary. 
 “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. 

“Sarbanes-Oxley Act of 2002” means the Public Company Accounting Reform and Investor Protection Act and the rules and
regulations promulgated thereunder. 
 “Securities Act” means the Securities Act of 1933, as amended.

 “Second Lien Obligations” means all Indebtedness and other Obligations arising permitted pursuant to this
Indenture, the Notes, the Guarantees, the Exchange Notes, the Registration Rights Agreement (including Additional Interest, if any), the Additional Notes, if any and any Collateral Agreements. 

“Second Lien Secured Parties” means the Holders of the Second Lien Obligations, the Trustee, any agent for any Second
Lien Obligations and the Collateral Agent. 
 “Secured Parties” means, collectively, the First Lien Secured
Parties and the Second Lien Secured Parties. 
 “Security Agreement” means that certain Security Agreement
entered into as of the date hereof by and among the Company, the Guarantors party thereto as “Grantors” and the Collateral Agent, as the same may be amended, supplemented, restated or modified from time to time. 

“Senior Credit Agreement” means the Third Amended and Restated Credit Agreement, as amended by the Second Amendment to
the Third Amended and Restated Credit Agreement to be in effect on the Issue Date, among the Company, each of the Restricted Subsidiaries, Union Bank, N.A. as Administrative Agent, and Capital One, National Association, Regions Bank, Fortis Capital
Corp. and Natixis as lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced from
time to time, including with different lenders or in differing amounts of Indebtedness to the extent permitted under this Indenture. 
 “Senior Debt” means all Indebtedness of the Company or any of its Restricted Subsidiaries permitted to be incurred under the terms of this Indenture, including the Notes, unless the
instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the Notes or any Guarantee, and all Obligations with respect to the foregoing. 

“Shelf Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement.

  
 24 

 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this Indenture. 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the
date on which the payment of interest or principal was scheduled to be paid in the original documentation governing such Indebtedness, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal
prior to the date originally scheduled for the payment thereof. 
 “subordinated” means, with respect to
Indebtedness, Indebtedness that is expressly subordinated in right of payment. Unsecured Indebtedness shall not be deemed subordinated to secured Indebtedness solely because of such security. For purposes of Section 4.07, Indebtedness of the
Company or a Guarantor shall not be deemed subordinated due to the operation of Article 11 hereof or the Collateral Agreements. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity of which more than 50% of the total voting power of Voting Stock
is at the time owned or controlled, directly or through another Subsidiary, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a
Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 
 “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb). 
 “Treasury Rate” means, with respect to the Notes as of any redemption date, 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 (519) that has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any
publicly available source or similar market data)) most nearly equal to the period from the redemption date to October 1, 2014; provided, however, that if the period from the redemption date to October 1, 2014 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 October 1, 2014 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 the successor serving hereunder. 
 “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. 

  
 25 

 “Unrestricted Subsidiary” means any Subsidiary of the Company that is
designated by the Board of Directors as an Unrestricted Subsidiary pursuant to a resolution of the Board of Directors, but only to the extent that such Subsidiary: 

(1) has no Indebtedness other than Non-Recourse Debt; 

(2) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of
the Company unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the
Company; 
 (3) is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has
any direct or indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and

 (4) does not guarantee or otherwise directly or indirectly provide credit support for any Indebtedness of the
Company or any of its Restricted Subsidiaries. 
 Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary
will be evidenced to the Trustee by filing with the Trustee the Board Resolution giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding conditions and was permitted by
Section 4.07. If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any
Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and any Lien of such Subsidiary will be deemed to be incurred as of such date and, if such Indebtedness is not permitted to be
incurred pursuant to Section 4.09, or such Lien is not permitted to be incurred as of such date pursuant to Section 4.12, then in, in either case, the Company will be in default of such covenant. 

“U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act. 

“Volumetric Production Payments” means production payment obligations recorded as deferred revenue in accordance with
GAAP, together with all related undertakings and obligations. 
 “Voting Stock” of any Person as of any date
means the Capital Stock of such Person that is at the time entitled (without regard to the occurrence of any contingency) 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 sum of the products obtained by multiplying (a) the amount of each then remaining
installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between
such date and the making of such payment; by  
 (2) the then outstanding principal amount of such
Indebtedness. 

  
 26 

 Section 1.02 Other Definitions. 

 

					
	 Term
	  	Defined
in
Section	 
	 “Affiliate Transaction”
	  	 	4.11	  
	 “Asset Sale Offer”
	  	 	3.09	  
	 “Authentication Order”
	  	 	2.02	  
	 “Change of Control Offer”
	  	 	4.15	  
	 “Change of Control Payment”
	  	 	4.15	  
	 “Change of Control Purchase Date”
	  	 	4.15	  
	 “Covenant Defeasance”
	  	 	8.03	  
	 “DTC”
	  	 	2.03	  
	 “Event of Default”
	  	 	6.01	  
	 “Excess Proceeds”
	  	 	4.10	  
	 “incur”
	  	 	4.09	  
	 “Legal Defeasance”
	  	 	8.02	  
	 “Offer Amount”
	  	 	3.09	  
	 “Offer Period”
	  	 	3.09	  
	 “Paying Agent”
	  	 	2.03	  
	 “Permitted Debt”
	  	 	4.09	  
	 “Payment Default”
	  	 	6.01	  
	 “Purchase Date”
	  	 	3.09	  
	 “Registrar”
	  	 	2.03	  
	 “Restricted Payments”
	  	 	4.07	  

 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 have the following meanings in this Indenture:

 “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 Guarantees means the Company and the Guarantors, respectively, and any successor obligor
upon the Notes and the 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 SEC rule under the TIA have the meanings so assigned to them. 

  
 27 

 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 
 (1) a term has the meaning assigned to it; 
 (2) an accounting term
not otherwise defined has the meaning assigned to it in accordance with GAAP; 
 (3) “or” is not
exclusive; 
 (4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

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

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the SEC 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; provided, that the form of the Exchange Notes shall include
such variations as are permitted or required by the Registration Rights Agreement (as evidenced by the Company’s execution of such Exchange Notes). The Notes may be issued in definitive or global forms hereunder. 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. Notwithstanding any
provision of this Indenture or the Notes any pro rata redemptions or repurchases of the Notes by the Company pursuant to this Indenture shall be made in a manner that preserves the authorized denominations of the Notes. 

The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of this Indenture and the Company,
the Guarantors 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 and Definitive 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 

  
 28 

 
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. 
 (c)
Temporary Global Notes. Notes offered and sold in reliance on Regulation S will be issued initially in the form of the Regulation S Temporary Global Note, which will be deposited on behalf of the purchasers of the Notes represented thereby
with the Trustee, at its New York office, as custodian for the Depositary, and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly
executed by the Company and authenticated by the Trustee as hereinafter provided. The Restricted Period will be terminated upon the receipt by the Trustee of an Officers’ Certificate from the Company. 

Following the termination of the Restricted Period, beneficial interests in the Regulation S Temporary Global Note will be exchanged for
beneficial interests in the Regulation S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the Regulation S Permanent Global Note, the Trustee will cancel the Regulation S Temporary Global Note.
The aggregate principal amount of the Regulation S Temporary Global Note and the Regulation S Permanent Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee,
as the case may be, in connection with transfers of interest as hereinafter provided. 
 Euroclear and Clearstream Procedures
Applicable. The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer
Handbook” of Clearstream will be applicable to transfers of beneficial interests in the Regulation S Temporary Global Note and the Regulation S Permanent Global Note that are held by Participants through Euroclear or Clearstream. 

Section 2.02 Execution and Authentication. 
 At least one Officer of the Company must sign the Notes for the Company by manual or facsimile signature. 
 If an Officer of the Company 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 signature of the Trustee. The signature will be conclusive evidence that the
Note has been authenticated under this Indenture. 
 The Trustee shall authenticate and deliver: (i) on the date of this
Indenture, an aggregate principal amount of $150.0 million of Notes, (ii) any Additional Notes in accordance with Section 4.09 hereof, and (iii) Exchange Notes for issue only in an Exchange Offer pursuant to the Registration
Rights Agreement, for a like principal amount of Notes, in each case upon receipt of a written order of the Company signed by two Officers (an “Authentication Order”). Such Authentication Order shall specify the amount of the Notes
to be authenticated and the date on which the original issue of the Notes is to be authenticated. 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 

  
 29 

 
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. 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. 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 The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes. 
 The Company initially appoints the Trustee to act as the Registrar and Paying
Agent and to act as Custodian with respect to the Global Notes. 
 Section 2.04 Paying Agent to Hold Money in Trust.

 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, premium or Additional Interest, if any, 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 and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the Company will furnish to the
Trustee at least seven Business Days before each regular record 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 and the Company shall otherwise comply with TIA § 312(a). 
 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. All Global Notes
will be exchanged by the Company for Definitive Notes if: 

  
 30 

 (1) 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 120 days after the date of such
notice from the Depositary; 
 (2) the Company in its sole discretion 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; provided that in no event shall the Regulation S Temporary Global Note be exchanged by the Company for Definitive Notes
prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or 

(3) upon the request of the Depositary after there has occurred and is continuing a Default or Event of Default with
respect to the Notes. 
 Upon the occurrence of any of the preceding events, 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 Sections 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 as provided in Section 2.06(b), (c) or (f) hereof. 
 (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 (1) or (2) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(1) 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 Temporary 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)(1) . 
 (2) 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)(1) above, the transferor of such beneficial interest must deliver to the
Registrar either: 
 (A) both: 

(i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the
Applicable Procedures directing the 

  
 31 

 
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 

(ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant
account to be credited with such increase; or 
 (B) both: 

(i) 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 

(ii) 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 subparagraph (1) above; 

provided that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the Regulation
S Temporary Global Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903 under the Securities Act. 

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2)
shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. 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(h) hereof. 
 (3) 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)(2) 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 Temporary Global Note or
the Regulation S Permanent 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. 

  
 32 

 (4) 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)(2) above and: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and Section 2.06(f) hereof, the Holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a
Participating Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Participating Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the
following: 
 (i) 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 

(ii) 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 (D), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar 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 is effected pursuant to
subparagraph (B) or (D) 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 pursuant to subparagraph (B) or (D) above. 

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. 

  
 33 

 (c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 

Beneficial interests in a Global Note shall not be exchangeable for Definitive Notes except in accordance with Section 2.06(a),
unless otherwise agreed by the Company. 
 (d) Transfer and Exchange of Definitive Notes for Beneficial Interests.

 (1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. 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. 

  
 34 

 (2) Restricted Definitive Notes to Beneficial Interests in Unrestricted
Global Notes. A Holder of a Restricted Definitive Note may exchange 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: 
 (A) such exchange or transfer is effected pursuant to the
Exchange Offer in accordance with the Registration Rights Agreement and Section 2.06(f) hereof and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it
is not (i) a Participating Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Participating Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the
following: 
 (i) 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 

(ii) 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 (D), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar 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)(2), the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

(3) 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. 

  
 35 

 If any such exchange or transfer from a Definitive Note to a beneficial
interest is effected pursuant to subparagraphs (2)(B), (2)(D) or (3) 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 instruction 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) . 

(1) 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. 
 (2) 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:

 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration
Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Participating Broker-Dealer, (ii) a Person participating in
the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B) any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C) any such transfer is effected by a Participating Broker-Dealer pursuant to the Exchange Offer Registration Statement
in accordance with the Registration Rights Agreement; or 

  
 36 

 (D) the Registrar receives the following: 

(i) 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 
 (ii) 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 (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar 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. 
 (3) 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. 

(f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the Registration Rights Agreement, the Company
will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate: 
 (1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in the Restricted Global Notes accepted for exchange in the Exchange
Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Participating Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as
defined in Rule 144) of the Company; and 
 (2) Unrestricted Definitive Notes in an aggregate principal amount
equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Participating Broker-Dealers, (B) they are
not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company. 
 Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company will execute and
the Trustee will authenticate and deliver to the Persons designated by the Holders of Definitive Notes so accepted Unrestricted Definitive Notes in the designated principal amount. 

(g) 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. 
 (1) Private Placement
Legend. 

  
 37 

 (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: 
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 

THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT, AS AMENDED), (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, AS AMENDED, AND IN ACCORDANCE WITH THE LAWS
APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE OR (C) IT IS AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 OF REGULATION D UNDER
THE SECURITIES ACT, AS AMENDED, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT, AS
AMENDED, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT, AS AMENDED, THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS
AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, AS AMENDED, AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS
MADE (D) TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A)(1),(2), (3) OR (7) OF RULE 501 OF REGULATION D UNDER THE SECURITIES ACT, AS AMENDED, THAT IS ACQUIRING THE SECURITY FOR ITS OWN
ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, AS AMENDED, (E) PURSUANT TO
A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, AS AMENDED, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS AMENDED, SUBJECT TO THE COMPANY’S
AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C), (D) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE
REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE EXPIRATION OF THE 

  
 38 

 
APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT, AS AMENDED.” 

(B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4), (c)(3),
(c)(4), (d)(2), (d)(3), (e)(2), (e)(3) or (f) of this Section 2.06 (and all Notes issued in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 

(2) 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 THE COMPANY. 
 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 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.” 
 (3) Regulation S Temporary Global Note Legend. The
Regulation S Temporary Global Note will bear a legend in substantially the following form: 
 “THE RIGHTS ATTACHING TO THIS REGULATION S
TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).” 

(4) Additional Legends. Definitive Notes issued to Affiliates of the Company may bear additional legends to reflect
further restrictions on transfer. 
 (h) 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

  
 39 

 
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. 
 (i) General Provisions Relating to Transfers and Exchanges. 

(1) 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. 
 (2) 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, 3.09, 4.10, 4.15 and 9.05 hereof). 
 (3) 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. 
 (4) 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. 
 (5) 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 pursuant to Section 3.02 hereof and ending at the close of
business on the day of selection; 
 (B) to register the transfer of or to exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; or 
 (C) to
register the transfer of or to exchange a Note between a record date and the next succeeding interest payment date. 
 (6) 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 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. 

  
 40 

 (7) The Trustee will authenticate Global Notes and Definitive Notes in
accordance with the provisions of Section 2.02 hereof. 
 (8) 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. 
 (j) 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 Note (including any transfers between or among Participants or beneficial owners of interests 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. 
 If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence 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 Company’s and 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. 
 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 bona fide purchaser; however, Notes held by the Company or a Subsidiary of the
Company shall not be deemed to be outstanding for purposes of Section 3.07(b) hereof 
 If the principal amount of
any Note is considered paid pursuant to Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) 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. 

  
 41 

 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 a Responsible Officer of the Trustee knows are so owned will be so disregarded. 

Section 2.10 Temporary Notes. 
 Until certificates representing Notes are ready for delivery, the Company may prepare and execute 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. 
 The Company shall cause definitive Notes
to be prepared and authenticated without unreasonable delay. After the preparation of the definitive Notes, the temporary Notes shall be exchanged for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company,
without charge to the Holder. Upon surrender for cancellation of one or more temporary Notes, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefore a like principal amount of definitive Notes of authorized
denominations. Until so exchanged, 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 (subject to the record retention requirement of the Exchange Act and the Trustee). Certification of the cancellation of all canceled Notes will be delivered to the Company upon written request. The Company may not
issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation. To the extent that any Notes are held in the form of Global Notes and less than all of such Global Notes are to be cancelled, the
reduction of the principal amount of any such Global Note and the Registrar’s notation of such cancellation on its books and records shall be deemed to satisfy any cancellation requirement, provided that certification of such
cancellation shall be delivered to the Company upon written request. 
 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 and in Section 4.01 hereof. 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

  
 42 

 
name and at the expense of the Company) will mail or cause to be mailed 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 Numbers. 
 The Company in issuing the Notes may use CUSIP, ISIN or other such numbers (if then generally in use), and, if so, the Trustee shall use CUSIP, ISIN or other such 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 shall promptly notify the Trustee in writing of any change in the CUSIP, ISIN or
other numbers. 
 ARTICLE 3 
 REDEMPTION AND PREPAYMENT 
 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 30 days but not more than 60 days before a redemption date, an Officers’ Certificate setting forth: 
 (1) the CUSIP number; 
 (2) the clause of this Indenture pursuant
to which the redemption shall occur; 
 (3) the redemption date; 

(4) the principal amount of Notes to be redeemed; 

(5) the redemption price.; and 

(6) the Notes to be redeemed, if a partial redemption. 
 Section 3.02 Selection of Notes to Be Redeemed or Purchased. 
 If less
than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption as follows: 

(1) if the relevant Notes are listed on any national securities exchange, in compliance with the requirements of the
principal national securities exchange on which the Notes are listed; or 
 (2) if the relevant Notes are not
listed on any national securities exchange, on a pro rata basis and in any event in accordance with Applicable Procedures of the Depository to the extent the Notes are Global Notes. 

No Notes of $2,000 or less can be redeemed in part. 
 If any Note is to be redeemed in part only, the notice of redemption that relates to that Note will state the portion of the principal amount of that Note that is to be redeemed. A new Note in principal
amount equal to the unredeemed portion of the original Note will be issued in the name of the Holder of 

  
 43 

 
Notes upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or
portions of them called for redemption. 
 Section 3.03 Notice of Redemption. 

Subject to the provisions of Section 3.09 hereof, at least 30 days but not more than 60 days before a redemption date, the Company
will mail or cause to be mailed, by first class mail, 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 this Indenture pursuant to Articles 8 or 12 hereof. 
 The notice will identify the Notes to be redeemed and will state: 

(1) the CUSIP number; 
 (2) the redemption date; 
 (3) the redemption price;

 (4) 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; 

(5) the name and address of the Paying Agent; 

(6) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(7) 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; 
 (8) the paragraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; and 
 (9) 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 (or such shorter periods as the Trustee
shall agree) prior to the redemption date, an Officers’ 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 and stating that all
conditions precedent to the giving of such notice have been complied with. 

  
 44 

 Section 3.04 Effect of Notice of Redemption. 

Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and
payable on the redemption date at the redemption price. A notice of redemption may not be conditional. 
 Section 3.05 Deposit of
Redemption or Purchase Price. 
 No later than 10:00 a.m. Eastern Time on the redemption or purchase date, the Company will
deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of and accrued interest and Additional Interest, if any, on all Notes to be redeemed or purchased 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 or purchase price of, and accrued interest and Additional Interest, if any,
on, all Notes to be redeemed or purchased. 
 If the Company complies with the provisions of the preceding paragraph, on and
after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related
interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender
for redemption or purchase because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase 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 and in Section 4.01 hereof. 

Section 3.06 Notes Redeemed or Purchased in Part. 
 Upon surrender of a Note that is redeemed or purchased 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 or unpurchased portion of the Note surrendered. 
 Section 3.07
Optional Redemption. 
 (a) On or after October 1, 2014, the Company may redeem all or a part of the Notes at any
time or from time to time upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the
Notes redeemed to the applicable redemption date, if redeemed during the periods set forth below: 
  

					
	 Year
	  	Percentage	 
	 October 1, 2014 through March 31, 2015
	  	 	106.250	% 
	 April 1, 2015 and thereafter
	  	 	100.000	% 

 (b) At any time on or
prior to October 1, 2014, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of the Notes issued under this Indenture at a redemption price of 112.50% of the principal amount, plus accrued and unpaid
interest and Additional Interest, if any, on the Notes to the redemption date (subject to the right of Holders of record on the 

  
 45 

 
relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date), with the net cash proceeds of one or more Equity Offerings by the Company,
provided that: 
 (1) at least 65% of the aggregate principal amount of Notes issued under this Indenture
(including Additional Notes) remains outstanding immediately after the occurrence of such redemption (excluding Notes held by the Company and its Subsidiaries); and 

(2) the redemption occurs within 90 days of the date of the closing of such Equity Offering. 

(c) At any time prior to October 1, 2014, the Notes may be redeemed in whole or in part at the option of the Company upon not less
than 30 nor more than 60 days’ prior notice at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any, to the date of redemption
(subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date). 
 (d) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 

(e) Except pursuant to the preceding paragraphs (a), (b) and (c), the Notes will not be redeemable at the Company’s option
prior to their final maturity. 
 Section 3.08 Mandatory Redemption; Open Market Purchases. 

The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the Notes at
the option of the Holders. The Company may at any time and from time to time purchase the Notes in the open market or otherwise if such purchase complies with the then applicable agreements of the Company, including this Indenture. 

Section 3.09 Offer to Purchase by Application of Excess Proceeds. 

In the event that, pursuant to Section 4.10 hereof, the Company is required to commence an offer to all Holders to purchase Notes (an
“Asset Sale Offer”), it will follow the procedures specified below. 
 The Asset Sale Offer shall be made to
all Holders and all holders of other Indebtedness that is pari passu with the Notes containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets. The
Asset Sale Offer will remain open for a period of at least 20 Business Days following its commencement and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer Period”).
No later than three Business Days after the termination of the Offer Period (the “Purchase Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and such other pari
passu Indebtedness (on a pro rata basis, if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in response to the Asset Sale Offer. 

If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued and unpaid
interest and Additional Interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no further interest will be payable on such interest payment date to Holders who tender Notes
pursuant to the Asset Sale Offer. 

  
 46 

 Upon the commencement of an Asset Sale Offer, the Company will send, by first class mail, a
notice to the Trustee and each of the Holders. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The notice, which will govern the terms of the Asset Sale Offer,
will state: 
 (1) the CUSIP number; 

(2) that the Asset Sale Offer is being made pursuant to this Section 3.09 and Section 4.10 hereof and the length
of time the Asset Sale Offer will remain open; 
 (3) the Offer Amount, the purchase price and the Purchase Date;

 (4) that any Note not tendered or accepted for payment will continue to accrete or accrue interest;

 (5) that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the
Asset Sale Offer will cease to accrete or accrue interest after the Purchase Date; 
 (6) that Holders electing
to have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in initial denominations of $2,000 and integral multiples of $1,000 in excess thereof; 

(7) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will be required to surrender the Note,
with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Company, a Depositary, if appointed by the Company, or a Paying Agent at the address specified in the
notice at least three days before the Purchase Date; 
 (8) that Holders will be entitled to withdraw their
election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal
amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 
 (9) that, if the aggregate principal amount of Notes and other pari passu Indebtedness surrendered by holders thereof exceeds the Offer Amount, the Company will select the Notes and other pari
passu Indebtedness to be purchased on a pro rata basis based on the principal amount of Notes and such other pari passu Indebtedness surrendered (with such adjustments as may be deemed appropriate by the Company so that only Notes
in denominations of $2,000 and integral multiples of $1,000 in excess thereof, will be purchased); and 
 (10)
that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 

On or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent
necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered, all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly
accepted together with an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Company in 

  
 47 

 
accordance with the terms of this Section 3.09. The Company, the Depositary or the Paying Agent, as the case may be, will promptly (but in any case not later than five days after the
Purchase Date) mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company will promptly issue a new Note, and the Trustee, upon
written request from the Company, will authenticate and mail or deliver (or cause to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted
shall be promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly announce the results of the Asset Sale Offer on the Purchase Date. 
 Other than as specifically provided in this Section 3.09, any purchase pursuant to this Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 

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 and
Additional Interest, if any, on, the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest and Additional Interest, if any 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 then due. The
Company will pay all Additional Interest, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement. 
 The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of 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 and Additional 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 in the Borough of Manhattan, the City of New York, 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; provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. The Company
will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

  
 48 

 All notices to the Trustee or the Collateral Agent hereunder shall be sent to the Corporate
Trust Office at the address set forth in Section 13.02 hereof, however, in addition, the Company hereby designates a corporate trust office of the Trustee located at 101 Barclay Street, New York, NY 10286, Attn: Corporate Trust Administration
as one such office or agency in the Borough of Manhattan of the Company in accordance with Section 2.03 hereof. 
 Section 4.03
Reports. 
 Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the
Company will furnish to the Holders of Notes and the Trustee, within the time periods specified in the SEC’s rules and regulations: 
 (1) all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required to file such reports excluding (i) information that would not
be required to be provided pursuant to (2) below if, but for (2) below, such information would otherwise be required on a current report and (ii) with respect to Form 10-K, information required to be provided pursuant to Part III
Item 11 of Form 10-K; and 
 (2) all current reports that would be required to be filed with the SEC on
Items 1.01, 1.02, 1.03, 2.01, 4.01 and 5.01 of Form 8-K if the Company were required to file such reports. 
 All such reports
will be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the
Company’s certified independent accountants. 
 If the Company has designated any of its Subsidiaries as Unrestricted
Subsidiaries, then the quarterly and annual financial information required by the preceding paragraphs will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in
“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and
results of operations of the Unrestricted Subsidiaries of the Company. 
 In addition, the Company and the Guarantors agree
that, for so long as any Notes remain outstanding, if at any time they are not required to file with the SEC the reports required by the preceding paragraphs, they will furnish to the Holders of Notes and to securities analysts and prospective
investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 

In addition, the Company will arrange and participate in quarterly conference calls to discuss its results of operations with Holders, no
later than 10 Business Days following the date on which each of the quarterly and annual reports are made available as provided above. The Company will provide to the Trustee and Holders of the Notes dial-in conference call information substantially
concurrently with the posting of such reports on its website. Access to any such reports on the Company’s website and to such quarterly conference calls may be password protected, provided that the Company makes reasonable efforts to
notify the Trustee and Holders of the Notes of the password and other information required to access such reports on its website and such quarterly conference calls. 
 Notwithstanding the foregoing, the Company will not be required to provide the following: 
 (a) Sarbanes-Ox1ey. No certifications or attestations concerning the financial statements or disclosure controls and procedures or internal controls that would otherwise be required pursuant to the

  
 49 

 
Sarbanes-Oxley Act of 2002 will be required (provided further, however, that nothing contained in the terms herein shall otherwise require the Company to comply with the terms of the
Sarbanes-Oxley Act of 2002 at any time when it would not otherwise be subject to such statute); 
 (b) Financial Statements
of Acquired Entities. The financial statements required of acquired businesses will be limited to the financial statements (in whatever form) that the Company receives in connection with the acquisition, and whether or not audited; 

(c) Financial Statements of Unconsolidated Entities. No financial statements of unconsolidated entities will be required;

 (d) Segment Reporting. The Company will not be required to prepare its financial statements in accordance with SFAS
No. 131; 
 (e) Mezzanine Securities. The Company will not be required to comply with SPAS No. ISO in respect of any
period prior to the date of this Indenture; 
 (f) Supplemental Schedules. The schedules identified in Section 5-04
of Regulation S-X will not be required; 
 (g) Item 403 of Regulation S-K. The Company may limit the information
disclosed in such reports in respect of Item 403 of Regulation S-K under the Securities Act to identifying, in each case utilizing a reference date permitted under Item 403, (A) the aggregate voting and economic ownership interests in
the Company and, if applicable, the top-level holding company of the Company of each Person (including any “group” as that term is used in Section 1 3(d)(3) under the Exchange Act) who is known to the Company to be the Beneficial
Owner of more than 5% of any class of the Company’s Capital Stock, (B) the aggregate voting and economic ownership interests in the top-level holding company of the Company beneficially owned by directors and officers of the Company as a
group and (C) the information required to be disclosed under Item 403(c); and 
 (h) Exhibits. No exhibits
pursuant to Item 601 of Regulation S-K under the Securities Act (other than in respect of material agreements governing Indebtedness) will be required. 
 The Company will post the reports specified in the preceding paragraph on its website no later than the date the Company is required to provide those reports to the Trustee and the Holders of the Notes
and maintain such posting so long as any Notes remain outstanding; provided, however, that such website may be password protected so long as the Company makes reasonable efforts to notify the Trustee and the Holders of the Notes of postings to the
website (including through the information dissemination procedures of the depositary for the Notes) and to provide the Trustee and the Holders of the Notes with access to such website. 
 Section 4.04 Compliance Certificate. 
 (a) The Company and each
Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further
stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture; and is not in default in the performance
or observance of any of the terms, provisions and 

  
 50 

 
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 the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, 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, forthwith upon any Officer of the Company becoming aware of any Default or Event of Default, an Officers’
Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

Section 4.05 Taxes. 

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. 
 The Company and each of the Guarantors 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 the Company and each of the Guarantors (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 Restricted Payments. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 

(1) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its
Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the
Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Company or payable to the Company or a
Restricted Subsidiary of the Company); 
 (2) purchase, redeem or otherwise acquire or retire for value
(including, without limitation, in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company; 

(3) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any
Indebtedness of the Company or any Guarantor that is subordinated to the Notes or the Guarantees, except a payment of interest or principal at or within one year of the Stated Maturity thereof; or 

  
 51 

 (4) make any Restricted Investment (all such payments and other actions set
forth in these clauses (1) through (4) above being collectively referred to as “Restricted Payments”), 
 unless, at
the time of and after giving effect to such Restricted Payment: 
 (1) no Default or Event of Default has
occurred and is continuing or would occur as a consequence of such Restricted Payment; 
 (2) the Company would,
at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09; and 
 (3) such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries after the date of this Indenture (excluding Restricted Payments permitted by clauses (2) through
(9) of the next succeeding paragraph), is less than the sum, without duplication, of: 
 (A) 50% of the
Consolidated Net Income of the Company for the period (taken as one accounting period) from July 1, 2010 to the end of the Company’s most recently ended fiscal quarter (commencing with the fiscal quarter ending September 30, 2010) for
which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such deficit), plus 

(B) 100% of the aggregate net cash proceeds received by the Company (including the Fair Market Value of any Additional
Assets to the extent acquired in consideration of Equity Interests of the Company (other than Disqualified Stock)) since the Issue Date as a contribution to its common equity capital or from the issue or sale of Equity Interests of the Company
(other than Disqualified Stock) or from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests (other
than Equity Interests (or Disqualified Stock or debt securities) sold to a Subsidiary of the Company), plus 

(C) to the extent that any Restricted Investment that was made after the Issue Date is sold for cash or otherwise
liquidated or repaid for cash, the lesser of (i) the cash return of capital with respect to such Restricted Investment (less the cost of disposition, if any) and (ii) the initial amount of such Restricted Investment, plus 

(D) to the extent that any Unrestricted Subsidiary of the Company is redesignated as a Restricted Subsidiary after the
Issue Date, the lesser of (i) the Fair Market Value of the Company’s Investment in such Subsidiary as of the date of such redesignation or (ii) such Fair Market Value as of the date on which such Subsidiary was originally designated
as an Unrestricted Subsidiary. 
 (b) So long as no Default or Event of Default has occurred and is continuing or would be
caused thereby, Section 4.07(a) will not prohibit: 

  
 52 

 (1) the payment of any dividend within 60 days after the date of declaration
of the dividend, if at the date of declaration the dividend payment would have complied with the provisions of this Indenture; 
 (2) the redemption, repurchase, retirement, defeasance or other acquisition of any subordinated Indebtedness of the Company or any Guarantor or of any Equity Interests of the Company in exchange for, or
out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock); provided that the amount of any such net cash proceeds that are
utilized for any such redemption, repurchase, retirement, defeasance or other acquisition will be excluded from clause (3)(b) of the preceding paragraph; 
 (3) the defeasance, redemption, repurchase, retirement or other acquisition of subordinated Indebtedness of the Company or any Guarantor with the net cash proceeds from an incurrence of, or in exchange
for, Permitted Refinancing Indebtedness; 
 (4) the repurchase, redemption or other acquisition or retirement for
value of any Equity Interests of the Company or any Restricted Subsidiary of the Company held by any current or former director or employee of the Company or any of its Restricted Subsidiaries pursuant to any director or employee equity subscription
agreement or plan, stock option agreement or similar agreement or plan; provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests may not exceed $1.0 million in any twelve-month period beginning
on or after the Issue Date; 
 (5) the acquisition of Equity Interests by the Company in connection with the
exercise of stock options or stock appreciation rights by way of cashless exercise; 
 (6) so long as no Default
has occurred and is continuing, upon the occurrence of a Change of Control or an Asset Sale and within 60 days after the completion of the offer to repurchase the Notes pursuant to Section 4.10 or Section 4.15 (including the purchase of
all Notes tendered), any purchase, repurchase, redemption, defeasance, acquisition or other retirement for value of Subordinated Indebtedness required under the terms thereof as a result of such Change of Control or Asset Sale at a purchase or
redemption price not to exceed 101% of the outstanding principal amount thereof, plus accrued and unpaid interest thereon, if any, provided that, in the notice to Holders relating to a Change of Control or Asset Sale hereunder, the Company shall
describe this clause (6); 
 (7) the payment of cash in lieu of fractional shares of Capital Stock in connection
with any transaction otherwise permitted under this Indenture; 
 (8) dividends on the Company’s Capital
Stock in an amount not to exceed $1.0 million in any twelve month period beginning on or after the Issue Date; and 
 (9) other Restricted Payments in an aggregate amount since the Issue Date not to exceed $5.0 million. 
 (c) The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the
Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. The Fair Market Value of any assets or securities that are required to be valued by this covenant will be determined by the Board of Directors, whose
determination shall be evidenced by a Board Resolution. The Board of 

  
 53 

 
Directors’ determination must be based upon an opinion or appraisal issued by an accounting, appraisal or investment banking firm of national standing if the Fair Market Value exceeds $15.0
million. Not later than the date of making any Restricted Payment under the first paragraph of this covenant the Company will deliver to the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and setting forth
the basis upon which the calculations required by this Section 4.07 were computed, together with a copy of any fairness opinion or appraisal required by this Indenture. For purposes of determining compliance with this Section 4.07, in the
event that a Restricted Payment meets the criteria of more than one of the categories of Restricted Payments described in the preceding clauses (1) — (9), the Company will be permitted to classify (or later classify or reclassify in whole
or in part in its sole discretion) such Restricted Payment in any manner that complies with this covenant. 
 Section 4.08 Dividend and
Other Payment Restrictions Affecting Subsidiaries. 
 (a) The Company will not, and will not permit any of its Restricted
Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to: 

(1) pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted
Subsidiaries, or pay any Indebtedness or other obligations owed to the Company or any of its Restricted Subsidiaries; 
 (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or 
 (3) transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. 
 (b) The restrictions in Section 4.08(a) will not apply to encumbrances or restrictions existing under or by reason of: 

(1) agreements governing Existing Indebtedness and the Senior Credit Agreement as in effect on the date of this Indenture
and any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of those agreements, provided that the amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacement or refinancings are not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in the Senior Credit Agreement on the date of this Indenture; 

(2) this Indenture, the Notes and the Guarantees; 

(3) applicable law; 
 (4) any instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition, which encumbrance or
restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired, and any amendments, modifications, restatements, renewals, increases, supplements,
refundings, replacements or refinancings of those instruments, provided that the amendments, modifications, restatements, renewals, increases, supplements, refundings, replacement or refinancings are not materially more restrictive, taken as
a whole, with respect to such dividend and other payment restrictions than those contained in those instruments; provided that, in the case of Indebtedness, such Indebtedness was permitted by the terms of this Indenture to be incurred;

  
 54 

 (5) customary non-assignment provisions in leases entered into in the
ordinary course of business and consistent with past practices; 
 (6) purchase money obligations for property
acquired in the ordinary course of business that impose restrictions on that property of the nature described in clause (3) of the preceding paragraph; 
 (7) any agreement for the sale or other disposition of a Restricted Subsidiary of the Company that restricts distributions by that Restricted Subsidiary pending its sale or other disposition; 

(8) Permitted Refinancing Indebtedness, provided that the restrictions contained in the agreements governing such
Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced; 

(9) agreements governing other Indebtedness of the Company and one or more Restricted Subsidiaries permitted under this
Indenture, provided that the restrictions in the agreements governing such Indebtedness are not materially more restrictive, taken as a whole, than those in this Indenture; 

(10) Liens securing Indebtedness otherwise permitted to be incurred pursuant to Section 4.12 that limit the right of
the debtor to dispose of the assets subject to such Liens; 
 (11) provisions with respect to the disposition or
distribution of assets or property in joint venture agreements, asset sale agreements, stock sale agreements, agreements respecting Permitted Business Investments and other similar agreements entered into in the ordinary course of business; and

 (12) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in
the ordinary course of business. 
 Section 4.09 Incurrence of Indebtedness and Issuance of Preferred Stock. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume,
guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt) and neither the Company nor any Guarantor will issue any
Disqualified Stock, and the Company will not permit any of its Restricted Subsidiaries to issue any shares of preferred stock; provided, however, that the Company and any Guarantor may incur Indebtedness (including Acquired Debt) or issue
Disqualified Stock, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is
incurred or such Disqualified Stock is issued would have been at least 4.5 to 1.0, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or Disqualified
Stock had been issued, as the case may be, at the beginning of such four-quarter period. 
 (b) The provisions of
Section 4.09(a) hereof will not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): 

  
 55 

 (1) the incurrence by the Company or any Guarantor of Indebtedness under one
or more Credit Facilities in an aggregate principal amount at any one time outstanding under this clause (1) (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its
Restricted Subsidiaries thereunder) not to exceed an amount equal to the greater of (a) $75.0 million and (b) 15% of ACNTA as of the date of such incurrence; 

(2) the incurrence by the Company or any of its Restricted Subsidiaries of the Existing Indebtedness; 

(3) the incurrence by the Company and the Guarantors of Indebtedness represented by the Notes and any Guarantees to be
issued on the date of this Indenture and the Exchange Notes and the related Guarantees issued pursuant to the Registration Rights Agreement; 
 (4) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Capital Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred
for the purpose of financing all or any part of the purchase price or cost of construction or improvement of property, plant or equipment used in the business of the Company or such Restricted Subsidiary, in an aggregate principal amount, including
all Permitted Refinancing Indebtedness incurred to refund, refinance or replace any Indebtedness incurred pursuant to this clause (4), not to exceed $10.0 million at any time outstanding; 

(5) the incurrence by the Company or any of its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange
for, or the net proceeds of which are used to refund, refinance or replace Indebtedness (other than intercompany Indebtedness) that was permitted by this Indenture to be incurred under the first paragraph of this covenant or clause (2), (3),
(4) or (11) of this paragraph or this clause (5); 
 (6) the incurrence by the Company or any of its
Restricted Subsidiaries of intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries; provided, however, that: 
 (A) if the Company is the obligor on such Indebtedness and a Guarantor is not the obligee, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations with
respect to the Notes, or if a Guarantor is the obligor on such Indebtedness and neither the Company nor another Guarantor is the obligee, such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations with
respect to the Guarantee of such Guarantor; and 
 (B) (i) any subsequent issuance or transfer of Equity
Interests that results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to a Person that is neither the Company nor a
Restricted Subsidiary of the Company will be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); 

(7) the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations; 

  
 56 

 (8) the guarantee by the Company or any of the Guarantors of Indebtedness of
the Company or any Guarantor that was permitted to be incurred by another provision of this covenant; 
 (9) the
incurrence by the Company or any of its Restricted Subsidiaries of obligations relating to net gas balancing positions arising in the ordinary course of business and consistent with past practice; 

(10) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in respect of bid, performance,
surety and similar bonds issued for the account of the Company and any of its Restricted Subsidiaries in the ordinary course of business, including guarantees and obligations of the Company and any of its Restricted Subsidiaries with respect to
letters of credit supporting such obligations (in each other than an obligation for money borrowed); 
 (11)
Indebtedness of a Restricted Subsidiary incurred and outstanding on the date on which such Restricted Subsidiary was acquired by, or merged into, the Company or any Restricted Subsidiary (other than Indebtedness Incurred (a) to provide all or
any portion of the funds utilized to consummate the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary or was otherwise acquired by the Company or (b) otherwise in
connection with, or in contemplation of, such acquisition); provided, however, that at the time such Restricted Subsidiary is acquired by the Company, the Company would have been able in Incur $1.00 of additional Indebtedness pursuant to the
first paragraph of this covenant after giving effect to the incurrence of such Indebtedness pursuant to this clause (11); 
 (12) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness arising from agreements of the Company or any of its Restricted Subsidiaries providing for indemnification,
adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the disposition of any business, assets or Capital Stock of a Subsidiary, provided that the maximum aggregate liability in respect of
all such Indebtedness shall at no time exceed the gross proceeds actually received by the Company and its Restricted Subsidiaries in connection with such disposition; and 

(13) the incurrence by the Company or any of its Restricted Subsidiaries of additional Indebtedness in an aggregate
principal amount (or accreted value, as applicable) at any time outstanding, not to exceed $15.0 million. 
 (c) For purposes of
determining compliance with this Section 4.09, in the event that an item of Indebtedness (including Acquired Debt) meets the criteria of more than one of the categories of Permitted Debt described in clauses (1) through (13) above, or
is entitled to be incurred pursuant to the first paragraph of this covenant, the Company will be permitted to classify (or later classify or reclassify in whole or in part in its sole discretion) such item of Indebtedness in any manner that complies
with this covenant. 
 (d) The amount of Indebtedness issued at a price that is less than the principal amount thereof will be
equal to the amount of the liability in respect thereof determined in accordance with GAAP. Indebtedness of any Person existing at the time such Person becomes a Restricted Subsidiary shall be deemed to have been incurred by the Company and the
Restricted Subsidiary at the time such Person becomes a Restricted Subsidiary. The accrual of interest, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with

  
 57 

 
the same terms, and the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will not be deemed to be an incurrence of Indebtedness
or an issuance of Disqualified Stock for purposes of this covenant; provided, in each such case, that the amount thereof is included in Fixed Charges of the Company as accrued. 
 Section 4.10 Asset Sales. 
 (a) The Company will not, and will not
permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Company (or the
Restricted Subsidiary, as the case may be) receives consideration at the time of the Asset Sale at least equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; 

(2) the Fair Market Value is determined by the Company’s Board of Directors and evidenced by a resolution of the
Board of Directors set forth in an Officers’ Certificate delivered to the Trustee; and 
 (3) at least 75%
of the consideration received by the Company or such Restricted Subsidiary from all Asset Sales since the Issue Date, in the aggregate, is in the form of cash or Additional Assets. 

For purposes of this provision, each of the following will be deemed to be cash: 

(A) any liabilities, as shown on the Company’s or such Restricted Subsidiary’s most recent consolidated balance
sheet, of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms expressly subordinated to the Notes or any Guarantee) that are assumed by the transferee of any such assets pursuant to a
customary novation agreement that releases the Company or such Restricted Subsidiary from further liability; and 

(B) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such
transferee that are converted within 90 days by the Company or such Restricted Subsidiary into cash, to the extent of the cash received in that conversion. 
 (b) Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company or any such Restricted Subsidiary may apply those Net Proceeds at its option to any combination of the following:

 (1) to repay or repurchase Indebtedness and other Obligations under a Credit Facility, any other First Lien
Obligations and Indebtedness and other Obligations arising under or pursuant to the Notes; 
 (2) to acquire all
or substantially all of the properties or assets of one or more other Persons primarily engaged in the Oil and Gas Business, and, for this purpose, a division or line of business of a Person shall be treated as a separate Person so long as such
properties and assets are acquired by the Company or a Restricted Subsidiary; 

  
 58 

 (3) to acquire a majority of the Voting Stock of one or more other Persons
primarily engaged in the Oil and Gas Business, if after giving effect to any such acquisition of Voting Stock, such Person is or becomes a Restricted Subsidiary; 

(4) to make one or more capital expenditures; or 

(5) to acquire other long-term assets that are not classified as current assets under GAAP and that are used or useful in
the Oil and Gas Business. 
 (c) Pending the final application of any Net Proceeds, the Company or any such Restricted
Subsidiary may temporarily reduce revolving credit borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture. 
 (d) Any Net Proceeds from Asset Sales that are not applied or invested as provided in the preceding paragraph will constitute “Excess Proceeds.” On the 361st day after the Asset Sale (or, at the
Company’s option, any earlier date), if the aggregate amount of Excess Proceeds then exceeds $15.0 million, the Company will make an Asset Sale Offer to all Holders of Notes, and all holders of other Indebtedness that is pari passu with the
Notes containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets, to purchase the maximum principal amount of Notes and such other pari passu Indebtedness that
may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of principal amount plus accrued and unpaid interest and Additional Interest, if any, to the date of settlement, subject to the right of
Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the date of settlement, and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer,
the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes and other pari passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess
Proceeds, the Trustee will select the Notes and the Company or its agent shall select such other pari passu Indebtedness to be purchased on a pro rata basis. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at
zero. 
 (e) 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 each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the
Asset Sale provisions of this Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Asset Sale provisions of this Indenture by virtue of such
conflict. 
 Section 4.11 Transactions with Affiliates. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase
any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate (each, an “Affiliate Transaction”), unless: 

(1) the Affiliate Transaction is on terms that are no less favorable to the Company or the relevant Restricted Subsidiary
than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person; and 

  
 59 

 (2) the Company delivers to the Trustee: 

(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate
consideration in excess of $10.0 million, a resolution of the Board of Directors set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with this covenant and that such Affiliate Transaction has been approved
by a majority of the disinterested members of the Board of Directors; and 
 (B) with respect to any Affiliate
Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $15.0 million, the Company delivers to the Trustee a written opinion that such Affiliate Transaction(s) is fair, from a financial point of view,
to the Company and its Restricted Subsidiaries, taken as a whole, or that such Affiliate Transaction(s) is not less favorable to the Company and its Restricted Subsidiaries than could reasonably be expected to be obtained at the time in an
arm’s-length transaction with a person who is not an Affiliate, in either such case issued by an independent accounting, appraisal or investment banking firm of recognized standing. 

(b) The following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions of
Section 4.11(a) hereof: 
 (1) any employment or severance agreement or other employee or director
compensation agreement, arrangement or plan, or any amendment thereto, entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business; 

(2) transactions between or among any of the Company and its Restricted Subsidiaries; 

(3) transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company
solely because the Company owns an Equity Interest in such Person; 
 (4) the payment of reasonable
directors’ fees, payments, the payments of other reasonable benefits and the provision of officers’ and directors’ indemnification and insurance to the extent permitted by law to persons who are officers and directors of the Company
and its Restricted Subsidiaries, in each case in the ordinary course of business and approved by the Board of Directors; 
 (5) sales of Equity Interests (other than Disqualified Stock) to Affiliates of the Company; 
 (6) transactions pursuant to any agreement in effect on the Issue Date, as such agreement may be amended, modified or supplemented from time to time provided that any such amendment, modification or
supplement will not be materially adverse to the Company or the Restricted Subsidiaries compared to the terms of such agreement in effect on the Issue Date; and 
 (7) Permitted Investments or Restricted Payments that are permitted by the provisions of Section 4.07. 

  
 60 

 Section 4.12 Liens. 
 The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Lien securing Indebtedness of any kind on any asset
now owned or hereafter acquired, except Permitted Liens. 
 Section 4.13 Business Activities. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, engage in any business other than the Oil and Gas
Business, except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole. 
 Section 4.14
Corporate Existence. 
 Subject to Article 5 hereof, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect: 
 (1) 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 

(2) 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 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 4.15 Offer to Repurchase Upon Change of Control. 

(a) Upon the occurrence of a Change of Control, the Company will make an offer (a “Change of Control Offer”) to each
Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and
unpaid interest and Additional Interest, if any, on the Notes repurchased to the date of settlement (the “Change of Control Purchase Date”), subject to the rights of Holders on the relevant record date to receive interest due on the
relevant interest payment date (the “Change of Control Payment”). Within 30 days following any Change of Control, the Company will mail a notice to each Holder and the Trustee describing the transaction or transactions that
constitute the Change of Control and stating: 
 (1) that the Change of Control Offer is being made pursuant to
this Section 4.15 and that all Notes tendered will be accepted for payment; 
 (2) the purchase price
and the Change of Control Purchase Date, which shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed; 
 (3) that any Note not tendered will continue to accrue interest; 

  
 61 

 (4) that, unless the Company defaults in the payment of the Change of
Control Payment, all Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Purchase Date; 
 (5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase”
attached to the Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Purchase Date; 

(6) that Holders will be entitled to withdraw their election if the Paying Agent receives, not later than the close of
business on the second Business Day preceding the Change of Control Purchase Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that
such Holder is withdrawing his election to have the Notes purchased; and 
 (7) that Holders whose Notes are
being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or integral multiples of $1,000 in excess
thereof. 
 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 4.15, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.15 by virtue of such compliance.

 (b) On the Change of Control Purchase Date, the Company will, to the extent lawful: 

(1) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

 (2) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or
portions of Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Notes
properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 
 (c) On the Change of Control Purchase Date, the paying agent will mail to each Holder of Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes are then in global form,
make such payment through the facilities of DTC), 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; provided that each new Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. The Company will publicly announce the results of the Change of Control Offer as soon as practicable after the Change of
Control Purchase Date. 
 (d) The provisions described above that require the Company to make a Change of Control Offer
following a Change of Control will be applicable whether or not any other provisions of this 

  
 62 

 
Indenture are applicable. Except as described in this Section 4.15 with respect to a Change of Control, this Indenture does not contain provisions that permit the Holders of the Notes
to require that the Company repurchase or redeem the Notes in the event of a takeover, recapitalization or similar transaction. 

(e) The Company will not be required to make a Change of Control Offer upon a Change of Control if (1) 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 properly tendered and not withdrawn
under the Change of Control Offer, or (2) notice of redemption has been given pursuant to Section 3.02 unless and until there is a default in payment of the applicable redemption price. 

Section 4.16 Additional Guarantees. 
 If any Restricted Subsidiary of the Company that is not already a Guarantor guarantees any other Indebtedness of the Company under a Credit Facility, then that Restricted Subsidiary will become a
Guarantor by executing a supplemental indenture and delivering it to the Trustee within 20 Business Days of the date on which it guaranteed Indebtedness of the Company under a Credit Facility; provided, however, that the foregoing shall not apply to
Subsidiaries of the Company that have properly been designated as Unrestricted Subsidiaries in accordance with this Indenture for so long as they continue to constitute Unrestricted Subsidiaries. Any such guarantee will be subject to the release
provisions set forth in Article 11. The form of the notation of Guarantee is attached as Exhibit E hereto and the form of such supplemental indenture is attached as Exhibit F hereto. 
 Section 4.17 Designation of Restricted and Unrestricted Subsidiaries. 

The Board of Directors of the Company may designate any Restricted Subsidiary of the Company to be an Unrestricted Subsidiary if that
designation would not cause a Default. If a Restricted Subsidiary of the Company is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the
Subsidiary properly designated will be deemed to be an Investment made as of the time of the designation and will reduce the amount available for Restricted Payments pursuant to Section 4.07 or represent Permitted Investments, as determined by
the Company. That designation will only be permitted if the Investment would be permitted at that time and if the Subsidiary so designated otherwise meets the definition of an Unrestricted Subsidiary. 

The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company;
provided that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and the creation, incurrence, assumption or otherwise
causing to exist any Lien of such Unrestricted Subsidiary and such designation will only be permitted if (1) such Indebtedness is permitted pursuant to Section 4.09, calculated on a pro forma basis as if such designation had occurred at
the beginning of the four-quarter reference period, (2) such Lien is permitted pursuant to Section 4.12 and (3) no Default or Event of Default would be in existence following such designation. 

Section 4.18 Impairment of Security Interest 
 Neither the Company nor any Restricted Subsidiary will take or omit to take any action which would adversely affect or impair in any material respect the Liens in favor of the Collateral Agent with
respect to the Collateral, except as otherwise permitted or required by the Collateral Agreements or the Indenture. Neither the Company nor any Restricted Subsidiary will enter into any agreement that requires the proceeds received from any sale of
Collateral to be applied to repay, redeem, defease or otherwise 

  
 63 

 
acquire or retire any Indebtedness of any Person, other than First Lien Debt Documents or as permitted by the Indenture and the Collateral Agreements (including the Intercreditor Agreement).

 Section 4.19 Post-Closing 
 The Company and the Guarantors will do or cause to be done all acts and things that may be required, including obtaining any required consents from third parties, to have all security interests and Liens
in the Collateral duly created and enforceable and perfected promptly following the date hereof, but in any event no later than the date that is 60 calendar days after the date hereof. 
 Section 4.20 Further Assurances 
 The Company and the Guarantors shall
execute any and all further documents, financing statements, agreements and instruments, and take all further action that may be required under applicable law, or that the Collateral Agent may reasonably request, in order to grant, preserve, protect
and perfect the validity and priority of the security interests created or intended to be created by the Collateral Agreements in the Collateral. In addition, from time to time, the Company will reasonably promptly secure the Obligations under the
Indenture and the Collateral Agreements by pledging or creating, or causing to be pledged or created, perfected security interests with respect to the Collateral. The Company shall deliver or cause to be delivered to the Collateral Agent all such
instruments and documents as the Collateral Agent shall reasonably request to evidence compliance with this Section 4.20. 

ARTICLE 5 

SUCCESSORS 
 Section 5.01
Merger, Consolidation, or Sale of Assets. 
 The Company will not, directly or indirectly: (1) consolidate or merge
with or into another Person (whether or not the Company is the surviving corporation); or (2) sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Restricted
Subsidiaries taken as a whole, in one or more related transactions, to another Person, unless: 
 (1) either
(a) the Company is the surviving corporation; or (b) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition has
been made is a corporation organized or existing under the laws of the United States, any state of the United States or the District of Columbia; 
 (2) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which such sale, assignment, transfer, lease, conveyance or other disposition has been
made assumes all the obligations of the Company under the Notes, this Indenture and the Registration Rights Agreement pursuant to agreements reasonably satisfactory to the Trustee; 

(3) immediately after such transaction no Default or Event of Default exists; 

(4) except with respect to a transaction solely between the Company and a Guarantor, the Company or the Person formed by
or surviving any such consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, lease, conveyance or 

  
 64 

 
other disposition has been made will, on the date of such transaction after giving pro forma effect thereto and any related financing transactions as if the same had occurred at the beginning of
the applicable four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09; and 

(5) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that such consolidation, merger or disposition and such supplemental indenture (if any) comply with this Indenture. 
 In
addition, the Company will not, directly or indirectly, lease all or substantially all of the properties and assets of it and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to any other Person. 

This Section 5.01 will not apply to: 
 (1) a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction; or 

(2) any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or other disposit ion of assets
between or among the Company and its Restricted Subsidiaries. 
 Section 5.02 Successor Corporation Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of
the properties or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the successor Person formed by such consolidation or into or with which the Company is merged or to
which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other
disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect
as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Notes except in the case of a sale of all
of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof. 
 ARTICLE 6 
 DEFAULTS AND REMEDIES 

Section 6.01 Events of Default. 
 Each of the following is an “Event of Default”: 

(1) default for 30 days in the payment when due of interest or Additional Interest, if any, on the Notes; 

(2) default in payment when due of the principal of, or premium, if any, on the Notes; 

(3) failure by the Company to comply with the provisions of Section 4.10, 4.15 or 5.01 hereof; 

  
 65 

 (4) failure by the Company or any of its Restricted Subsidiaries, as
applicable, to comply for 30 days after receipt of written notice from the Trustee or the Holders of 25% in principal amount of the Notes with the provisions of Section 4.08, 4.09, 4.11, 4.12, 4.13 or 4.16 hereof; 

(5) failure by the Company for 60 days after notice from the Trustee or the Holders of 25% of the principal amount of the
Notes outstanding to comply with any of the other agreements in this Indenture (or 120 days with respect to Section 4.03); 
 (6) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its
Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such Indebtedness or guarantee now exists, or is created after the date of this Indenture, if that default: 

(A) is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior to the
expiration of the grace period provided in such Indebtedness (a “Payment Default”); or 
 (B) results
in the acceleration of such Indebtedness prior to its Stated Maturity, 
 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, aggregates $15 million or more and such Payment Default is not cured or
such acceleration rescinded within 15 days; 
 (7) failure by the Company or any of its Restricted Subsidiaries
to pay final judgments aggregating in excess of $15 million, which judgments are not paid, discharged or stayed (including a stay pending appeal) for a period of 60 days after the date of such final judgment (or, if later, the date when payment is
due pursuant to such judgment); 
 (8) except as permitted by this Indenture, any Guarantee shall be held in any
judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, shall deny or disaffirm its obligations under its Guarantee;

 (9) the Company or any Significant Subsidiary, or group of Subsidiaries that together would constitute a
Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: commences a voluntary case, consents to the entry of an order for relief against it in an involuntary case, consents to the appointment of a custodian of it or for all
or substantially all of its assets, or makes a general assignment for the benefit of its creditors; 
 (10) a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: is for relief against the Company or any Significant Subsidiary, or group of Subsidiaries that together would constitute a Significant Subsidiary, as debtor in
an involuntary case, appoints a custodian of the Company or any Significant Subsidiary, or group of Subsidiaries that together would constitute a Significant Subsidiary, or a custodian for all or substantially all of the assets of the Company or any
Significant Subsidiary, or group of Subsidiaries that together would constitute a Significant Subsidiary, or orders the liquidation of the Company or any Significant 

  
 66 

 
Subsidiary, or group of Subsidiaries that together would constitute a Significant Subsidiary, and the order or decree remains unstayed and in effect for 60 days; or 

(11) (x) any Collateral Agreement at any time for any reason shall cease to be in full force and effect in all
material respects, except as provided in this Indenture or the Collateral Agreements; (y) any Collateral Agreement ceases to give the Collateral Agent the Liens, rights, powers and privileges purported to be created thereby with respect to any
Collateral having a Fair Market Value in excess of $2.5 million, superior to and prior to the rights of all third Persons other than the holders of Permitted Liens and subject to no other Liens except as expressly permitted by the applicable
Collateral Agreement or the Indenture; or (z) the Company or any of the Guarantors, directly or indirectly, contest in any manner the effectiveness, validity, binding nature or enforceability of any Collateral Agreement. 

Section 6.02 Acceleration. 
 (a) In the case of an Event of Default described in clauses (9) or (10) of Section 6.01 with respect to the Company, all outstanding Notes will become due and payable immediately without
further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. 

(b) The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf
of all of the Holders, rescind an acceleration and its consequences, if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium or Additional Interest,
if any, that has become due solely because of the acceleration) have been cured or waived. 
 (c) In the case of any Event of
Default occurring by reason of any willful action or inaction taken or not taken by or on behalf of the Company with the intention of avoiding payment of the premium that the Company would have had to pay if the Company then had elected to redeem
the Notes prior to stated maturity (other than with the net cash proceeds of an Equity Offering), an equivalent premium will also become and be immediately due and payable to the extent permitted by law upon the acceleration of the Notes.

 Section 6.03 Other Remedies. 
 (a) If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium and Additional Interest, if any, and interest on the Notes or
to enforce the performance of any provision of the Notes or this Indenture. 
 (b) 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 Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any past Default or Event of Default and its
consequences under this Indenture except a continuing Default or Event of Default in the payment of 

  
 67 

 
principal of, or interest, premium or Additional Interest, if any, on, the Notes or in respect of a covenant that cannot be amended without the consent of each Holder. 

Section 6.05 Control by Majority. 
 (a) 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. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be unduly prejudicial to the rights of other Holders of Notes or that
may involve the Trustee in personal liability. 
 (b) Subject to this Section 6.05 and Section 6.06, Holders of a
majority in principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold notice of any continuing Default or Event of Default from Holders of the Notes if it determines that
withholding notice is in their interest, except a Default or Event of Default relating to the payment of principal of, or interest, premium or Additional Interest, if any, on, the Notes. 
 Section 6.06 Limitation on Suits. 
 Subject to the provisions of
this Indenture relating to the duties of the Trustee, in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under this Indenture at the request or direction of any
Holders of Notes unless such Holders have offered to the Trustee reasonable indemnity or security against any loss, liability or expense. Except to enforce the right to receive payment of principal, interest, premium or Additional Interest, if any,
when due, no Holder of a Note may pursue any remedy with respect to this Indenture or the Notes unless: 
 (1)
such Holder has previously given the Trustee notice that an Event of Default is continuing; 
 (2) Holders of at
least 25% in aggregate principal amount of the then outstanding Notes have requested the Trustee to pursue the remedy; 
 (3) such Holders have offered the Trustee reasonable security or indemnity against any loss, liability or expense; 
 (4) the Trustee has not complied with such request within 60 days after the receipt of the request and the offer of security or indemnity; and 

(5) Holders of a majority in aggregate principal amount of the then outstanding Notes have not given the Trustee a
direction inconsistent with such request within such 60-day period. 
 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 receive payment of principal,
premium and Additional Interest, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after
such respective dates, shall not be impaired or affected without the consent of such Holder; provided that a Holder shall not have the right to institute any such suit for the enforcement of payment if and to the extent that the institution
or 

  
 68 

 
prosecution thereof or the entry of judgment therein would, under applicable law, result in the surrender, impairment, waiver or loss of the Lien of this Indenture upon any property subject to
such Lien. 
 Section 6.08 Collection Suit by Trustee. 

If an Event of Default specified in Section 6.01(1) or (2) 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 and Additional Interest, if any, 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. 

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 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 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 pursuant to 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 pursuant to 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 and Collateral Agent and their agents and attorneys for amounts due pursuant to
Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee or Collateral Agent and the costs and expenses of collection; 

Second: to Holders of Notes for amounts due and unpaid on the Notes for principal, premium and Additional Interest,
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 and Additional Interest, if any and interest, respectively; and 

  
 69 

 Third: to the Company or to such 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. 
 (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: 

(1) 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 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions by which any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts 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: 
 (1) this
paragraph does not limit the effect of paragraph (b) of this Section 7.01; 
 (2) 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 

  
 70 

 (3) 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 and powers under this Indenture at the request 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, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled
to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation. 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The
Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ 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 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 evidenced by an Officers’ Certificate. 
 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the
Trustee reasonable indemnity or security against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction. 
 (g) The Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture. 

  
 71 

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

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

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

 (k) In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations
hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances. 
 (l) The Trustee may request that the
Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 
 Section 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. However, in the event that the Trustee
acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as Trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and
duties. 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 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 90 days after it is known to the Trustee. Except in the case of a Default or Event of Default in payment of principal, 

  
 72 

 
interest, premium or Additional Interest, if any, 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 May 15 beginning with the May 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 SEC 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 and Collateral Agent 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 and Collateral Agent 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 against any and all losses, liabilities or expenses incurred by either of them arising out of or in connection with
the acceptance or administration of its 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 bad faith. Each of the Trustee and Collateral Agent will notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee or Collateral Agent 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 and Collateral Agent will cooperate in the defense. The Trustee and Collateral Agent may have separate counsel
and the Company will pay the reasonable fees and expenses of 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. 
 (d) To secure the Company’s and the Guarantors’ payment obligations in this Section 7.07, the
Trustee and Collateral Agent 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 and interest on particular Notes. Such Lien will survive the satisfaction and
discharge of this Indenture. 

  
 73 

 (e) When the Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(8) or (9) 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.

 (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

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: 

(1) the Trustee fails to comply with Section 7.10 hereof; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its property; or

 (4) 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 60 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. Notwithstanding replacement of the Trustee pursuant to this
Section 7.08, the Company’s obligations pursuant to Section 7.07 hereof will continue for the benefit of the retiring Trustee. 

  
 74 

 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 trustee 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. 
 ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 Section 8.01 Option to Effect Legal Defeasance and Covenant Defeasance. 
 The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ 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 pursuant to Section 8.01 hereof of the option applicable to this
Section 8.02, the Company and each of the Guarantors 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 Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and the Guarantors will be deemed to have paid and
discharged the entire Indebtedness represented by the outstanding Notes (including the 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 (1) and (2) below, and to have satisfied all their other obligations under such Notes, the 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: 
 (1) the rights of holders of outstanding Notes to receive payments in respect of the principal of, and interest, premium or Additional Interest, if any, on such Notes when such payments are due from the
trust referred to below; 

  
 75 

 (2) the Company’s obligations with respect to the Notes concerning
issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of an office or agency for payment and money for security payments held in trust; 

(3) the rights, powers, trusts, duties and immunities of the Trustee, and the Company’s obligations in connection
therewith; and 
 (4) this Article 8. 
 In addition, the Company may, at its option and at any time, elect 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 pursuant to Section 8.03 hereof. 
 Section 8.03 Covenant Defeasance. 

Upon the Company’s exercise pursuant to Section 8.01 hereof of the option applicable to this Section 8.03, the Company and
each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.03, 4.04, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12,
4.13, 4.15, 4.16, 4.17, 4.18, 4.19 or 4.20 hereof and clause (4) of Section 5.01 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 Guarantees, the Company and the Guarantors 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 pursuant to Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes and Guarantees will be unaffected thereby. In addition, upon the Company’s exercise pursuant to 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(3) through 6.01(5) and 6.01(11) 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: 
 (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the holders of the Notes, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S.
dollars and non-callable Government Securities, in amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, and interest, premium and Additional Interest, if any, on,
the outstanding Notes on the date of fixed maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to the date of fixed maturity or to a particular redemption date;

  
 76 

 (2) in the case of an election pursuant to Section 8.02 hereof, the
Company has delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that: 

(A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or 

(B) since the date of this Indenture, there has been a change in the applicable federal income tax law, 

in either case to the effect that, and based thereon such Opinion of Counsel will confirm that, the Holders of the outstanding Notes will
not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal
Defeasance had not occurred; 
 (3) in the case of an election pursuant to Section 8.03 hereof, the Company
has delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant
Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

(4) no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such deposit); 
 (5) 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 (other than this Indenture) to which the Company or any of the Guarantors is a party or by which the
Company or any of the Guarantors is bound; 
 (6) the Company must deliver to the Trustee an Officers’
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 creditors of the Company or
others; and 
 (7) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

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 (or other qualifying trustee, collectively for purposes of this Section 8.05, 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 

  
 77 

 
due thereon in respect of principal, premium and Additional Interest, 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 pursuant to Section 8.04(1) hereof), 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 or Additional Interest, if any, or interest on, any Note and remaining unclaimed for two years after such principal, premium or Additional Interest, 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 from 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 8.02 or 8.03 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 and the Guarantors’
obligations under this Indenture and the Notes and the Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply all
such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium or Additional Interest, if any, 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. 

ARTICLE 9 

AMENDMENT, SUPPLEMENT AND WAIVER 

Section 9.01 Without Consent of Holders of Notes. 
 (a) Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee may amend or supplement the Indenture Documents without the consent of any Holder of Notes: 

  
 78 

 (1) to cure any ambiguity, defect or inconsistency; 

(2) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders of the Notes and
Guarantees by a successor to the Company or such Guarantor pursuant to Article 5 or Article 11 hereof; 
 (4) to
make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights hereunder of any Holder, provided that any change to conform this Indenture to the Offering Circular
dated September 17, 2010 relating to the offering of the Initial Notes will not be deemed to adversely affect the legal rights under this Indenture of any Holder; 

(5) to secure the Notes or the Guarantees pursuant Article 10 hereof or otherwise; 

(6) to provide for the issuance of Additional Notes in accordance with Section 2.02; 

(7) to add any additional Guarantor or to evidence the release of any Guarantor from its Guarantee, in each case as
provided in this Indenture and in the Intercreditor Agreement; 
 (8) to comply with requirements of the
Commission in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; or 

(9) to evidence or provide for the acceptance of appointment under the Indenture of a successor Trustee. 

(b) Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended
or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 and 9.06 hereof, the Trustee will join with the Company and the Guarantors in the execution of any amended or supplemental indenture
authorized or permitted by the terms of this 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 amended or supplemental indenture that
affects its own rights, duties or immunities under this Indenture or otherwise. 
 (c) In addition to the foregoing, Holders of
the Notes, by the acceptance thereof, shall be deemed to agree that the Collateral Agreements may be amended without the consent of any Holder or Notes in circumstances set forth in the Intercreditor Agreement. 

Section 9.02 With Consent of Holders of Notes. 
 (a) Except as provided below in this Section 9.02, the Indenture Documents may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the
Notes affected thereby then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), and any existing Default or Event of Default or compliance with any provision
of the Indenture Documents may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, consents obtained in connection with a tender offer or exchange offer
for, Notes). 

  
 79 

 (b) Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, 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 and 9.06 hereof, the Trustee will join with the Company and the Guarantors in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly 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 amended or supplemental indenture. 

(c) It is not be 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. 
 (d) After an
amendment, supplement or waiver under this Section 9.02 becomes effective, the Company will mail 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 amended or supplemental indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of
the Notes then outstanding voting as a single class may waive compliance in a particular instance by the Company with any provision of the Indenture Documents. However, without the consent of each Holder affected thereby, an amendment, supplement or
waiver under this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder): 
 (1)
reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 
 (2)
reduce the principal of or change the fixed maturity of any Note or alter or waive any of the provisions with respect to the redemption of the Notes (except with respect to Sections 3.09, 4.10 and 4.15 hereof); 

(3) reduce the rate of or change the time for payment of interest, including default interest, on any Note; 

(4) waive a Default or Event of Default in the payment of principal of, or premium or Additional Interest, if any, or
interest on, the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in principal amount of the Notes and a waiver of the payment default that resulted from such acceleration); 

(5) make any Note payable in currency other than that stated in the Notes; 

(6) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of
Notes to receive payments of principal of, or interest or premium or Additional Interest, if any, on, the Notes; 

(7) waive a redemption payment with respect to any Note (other than a payment required by Sections 3.09, 4.10 or 4.15
hereof); 
 (8) release any Guarantor from any of its obligations under its Guarantee or this Indenture, except
in accordance with the terms of this Indenture and the Intercreditor Agreement; or 

  
 80 

 (9) make any change in the preceding amendment, supplement and waiver
provisions. 
 (e) Without the consent of the holders of at least a majority in aggregate principal amount of the Notes then
outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), an amendment, supplement or waiver may not release all or substantially all of the Collateral from the
Liens created pursuant to the Collateral Agreements, except in accordance with the Indenture and the Collateral Agreements. 

Section 9.03 Compliance with Trust Indenture Act. 
 Every amendment or supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

Section 9.04 Revocation and Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder 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, 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 9.05 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 9.06 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, liabilities or immunities of
the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves it. 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 13.04 hereof, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental
indenture is authorized or permitted by this Indenture. 
 ARTICLE 10 

COLLATERAL AND SECURITY 

  
 81 

 Section 10.01 Grant of Security Interest. 

The due and punctual payment of the principal of and interest and Additional Interest, if any, on the Notes when and as the same shall be
due and payable, whether on an interest payment date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of and interest and Additional Interest (to the extent permitted by law), if any, on the
Notes (including, but not limited to, all interest accrued or accruing (or which would, absent commencement of an Insolvency Proceeding (and the effect of provisions such as Section 502(b)(2) of the Bankruptcy Law), accrue) after commencement
of an Insolvency Proceeding, whether or not the claim for such interest is allowed as a claim in such Insolvency Proceeding), and performance of all other obligations of the Company and the Guarantors to the Holders or the Trustee under this
Indenture and the Notes, according to the terms hereunder or thereunder, shall be secured by all property and assets of the Company and the Guarantors that from time to time are subject to Liens securing First Lien Obligations, other than the
Excluded Collateral, including as provided in the Collateral Agreements which the Company and the Guarantors have entered into simultaneously with the execution of this Indenture, in each case subject to the Intercreditor Agreement. Each Holder, by
its acceptance of Notes, consents and agrees to the terms of the Intercreditor Agreement and the other Collateral Agreements (including, without limitation, the provisions providing for foreclosure and release of Collateral) as the same may be in
effect or may be amended, waived, supplemented or modified from time to time in accordance with its terms and authorizes and directs the Collateral Agent to enter into the Intercreditor Agreement and the other Collateral Agreements and to perform
its obligations and exercise its rights thereunder in accordance therewith. The Company will deliver to the Trustee copies of all documents delivered to the Collateral Agent pursuant to the Collateral Agreements, and will do or cause to be done all
such acts and things as may be necessary or proper, or as may be required by the provisions of the Collateral Agreements, to assure and confirm to the Trustee and the Collateral Agent the security interest in the Collateral contemplated hereby, by
the Collateral Agreements or any part thereof, as from time to time constituted, so as to render the same available for the security and benefit of this Indenture and of the Notes secured hereby, according to the intent and purposes herein
expressed. The Collateral Agent may open and maintain one or more accounts to hold the Collateral and the Collateral Agreements from time to time, it being understood that such accounts shall not in any way expand or otherwise affect the Collateral
Agent’s duties under the Collateral Agreements. The Trustee and the Collateral Agent are hereby authorized to enter into the Collateral Agreements, including the Intercreditor Agreement. 
 Section 10.02 Recording and Opinions. 
 (a) The Company will
furnish to the Collateral Agent and the Trustee on or within one month of October 1 in each year beginning with October 1, 2011, an Opinion of Counsel either: 

(1) (A) stating that, in the opinion of such counsel, action has been taken with respect to the recording,
registering, filing, re-recording, re-registering and re-filing of all supplemental indentures, mortgages, financing statements, mortgage reinscriptions, continuation statements or other instruments of further assurance as is necessary to maintain
the Lien of the Collateral Agreements and reciting with respect to the security interests in the Collateral the details of such action or referring to prior Opinions of Counsel in which such details are given, and (B) stating that, in the
opinion of such counsel, based on relevant laws as in effect on the date of such Opinion of Counsel, all mortgages, mortgage reinscriptions, financing statements and continuation statements have been filed that are necessary as of such date and
during the succeeding 12 months to fully preserve and protect, to the extent such protection and preservation are possible by filing, the rights of the Holders of Notes and the Collateral Agent and the Trustee hereunder and under the Collateral
Agreements with respect to the security interests in the Collateral; 

  
 82 

 (2) stating that, in the opinion of such counsel, no such action is
necessary to maintain such Lien and assignment. 
 (b) The Company will otherwise comply with the provisions of TIA
§314(b). 
 Section 10.03 Release of Collateral. 

(a) Subject to subsections (b), (c) and (d) of this Section 10.03, Collateral may be released from the Lien and security
interest created by the Collateral Agreements in accordance with the provisions of the Collateral Agreements and under the following circumstances: 
 (1) if any Subsidiary that is a Guarantor is released from its Guarantee pursuant to the terms of this Indenture, that Subsidiary’s assets will also be released from the Liens securing the Notes;

 (2) pursuant to Section 9.02 hereof, with consent of holders of a majority of the outstanding Notes;

 (3) if required in accordance with the terms of the Intercreditor Agreement; 

(4) if such Collateral becomes Excluded Collateral; 

(5) if the First Priority Lien on such Collateral is released, other than a release following a discharge of First Lien
Obligations; 
 (6) if the Company exercises its Legal Defeasance option or Covenant Defeasance option pursuant
to Sections 8.01, 8.02 and 8.03 hereof; 
 (7) upon satisfaction and discharge of the Indenture or payment in
full of the principal of, and premium and accrued and unpaid interest on, the Notes and all other Obligations that are then due and payable pursuant to Section 12.01 hereof. 

(b) In addition, upon the request of the Company pursuant to an Officers’ Certificate certifying that all conditions precedent
hereunder have been met and stating whether or not such release is in connection with a sale or disposition of assets and (at the sole cost and expense of the Company) the Collateral Agent will release Collateral that is sold, conveyed or disposed
of in compliance with the provisions of this Indenture; provided that if such sale, conveyance or disposition constitutes an Asset Sale, such Asset Sale complies with the requirements of Section 4.10 hereof. Upon receipt of such
Officers’ Certificate the Collateral Agent shall execute, deliver or acknowledge any instruments of termination, satisfaction or release reasonably requested of it to evidence the release of any Collateral permitted to be released pursuant to
this Indenture or the Collateral Agreements. 
 (c) The Company shall determine the applicability of Section 314(d) to any
such release, and if the Company determines that Section 314(d) is not applicable it shall include a statement to this effect in the Officers’ Certificate to be provided under clause (d). Any certificate or opinion required by TIA §
314(d) may be made by an Officer of the Company except in cases where TIA § 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or
approved by the Company in the exercise of reasonable care. If the Company determines that Section 314(d) of the TIA is not applicable to the release of Collateral, then the Company need not deliver the documents that would otherwise be
required under Section 314(d); provided however, that in no event is this intended to derogate the right of the Trustee and 

  
 83 

 
Collateral Agent to request and obtain an Opinion of Counsel and Officers’ Certificate stating that all conditions precedent in the Indenture Documents to such release have been complied
with whenever the Trustee and/or Collateral Agent is asked to execute or acknowledge a release of Collateral. 
 (d)
Notwithstanding anything to the contrary contained herein, at any time the Trustee or Collateral Agent is requested to acknowledge or execute a release of Collateral, the Trustee and/or the Collateral Agent shall be entitled to receive an Opinion of
Counsel and Officers’ Certificate that all conditions precedent in the Indenture Documents to such release have been complied with. The Trustee may, to the extent permitted by Sections 7.01 and 7.02 hereof, accept as conclusive evidence of
compliance with the foregoing provisions the appropriate statements contained in such documents and such Opinion of Counsel. 

Section 10.04 [Reserved] 

Section 10.05 Authorization of Actions to Be Taken by the Trustee Under the Collateral Agreements. 

Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may, in its sole discretion and without the consent of the
Holders of Notes, direct, on behalf of the Holders of Notes, the Collateral Agent to, take all actions it deems necessary or appropriate in order to: 
 (1) enforce any of the terms of the Collateral Agreements; and 

(2) collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. 

The Trustee will have power to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of
the Collateral by any acts that may be unlawful or in violation of the Collateral Agreements or this Indenture, and such suits and proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of
Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise
invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or be prejudicial to the interests of the Holders of Notes or of the Trustee). 

Section 10.06 Authorization of Receipt of Funds by the Trustee Under the Collateral Agreements. 

The Trustee is authorized to receive any funds for the benefit of the Holders of Notes distributed under the Collateral Agreements, and to
make further distributions of such funds to the Holders of Notes according to the provisions of this Indenture. 
 Section 10.07
Termination of Security Interest. 
 Upon the payment in full of all Obligations of the Company under this Indenture and
the Notes, or upon Legal Defeasance, the Trustee will, at the request of the Company, deliver a certificate to the Collateral Agent stating that such Obligations have been paid in full, and instruct the Collateral Agent to release the Liens pursuant
to this Indenture and the Collateral Agreements. 

  
 84 

 Section 10.08 Trustee’s Duties with Respect to Collateral 

(a) Beyond the exercise of reasonable care in the custody thereof, the Trustee shall have no duty as to any Collateral in its possession
or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the Trustee shall not be responsible for filing any financing or
continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any security interest in the Collateral. The Trustee shall be deemed to have
exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property and shall not be liable or responsible for any loss or diminution in
the value of any of the Collateral, by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Trustee in good faith. 
 (b) The Trustee shall not be responsible for the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral,
whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes gross negligence, bad faith or willful misconduct on the part of the Trustee, for the
validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title of the Company to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon
the Collateral or otherwise as to the maintenance of the Collateral. The Trustee shall have no duty to ascertain or inquire as to the performance or observance of any of the terms of this Indenture, the Collateral Agency Agreement or the Security
Documents by the Company, the Issuer, the Guarantors, the Secured Parties or the Collateral Agent. 
 ARTICLE 11 

GUARANTEES 

Section 11.01 Guarantee. 
 (a) The Guarantors, jointly and severally, irrevocably, absolutely and unconditionally guarantee to each Holders of Notes and the Trustee the prompt and complete payment and performance when due,
irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Company thereunder, no matter how the same shall become due, of all Guaranteed Obligations. 

(b) If the Company shall for any reason fail to pay any Guaranteed Obligation, as and when such Guaranteed Obligation shall become due
and payable, whether at its stated maturity, as a result of the exercise of any power to accelerate, or otherwise, the Guarantors will, upon demand by the Trustee, pay such Guaranteed Obligation in full to the Trustee for the benefit of the Holders
of Notes and the Trustee to which such Guaranteed Obligation is owed. If the Company shall for any reason fail to perform promptly any Guaranteed Obligation that is not for the payment of money, the Guarantors will, upon demand by the Trustee, cause
such Guaranteed Obligation to be performed or, if specified by the Trustee, provide sufficient funds, in such amount and manner as the Trustee shall in good faith determine, for the prompt, full and faithful performance of such Guaranteed Obligation
by the Trustee or such other Person as the Trustee shall designate. Without limiting the generality of the foregoing, the Guarantors will pay all amounts that constitute part of the Guaranteed Obligations that would be owing but for the fact that
they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding. 

  
 85 

 Section 11.02 Execution and Delivery of Guarantee. 

(a) To evidence its Guarantee set forth in Section 11.01 hereof, each Guarantor hereby agrees that a notation of such Guarantee
substantially in the form attached as Exhibit E hereto will be endorsed by an Officer of such Guarantor, by manual or facsimile signature, 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. 
 (b) Each Guarantor hereby agrees that its Guarantee set forth in Section 11.01
hereof will remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Guarantee. 

(c) If an Officer whose signature is on this Indenture or on the Guarantee no longer holds that office at the time the Trustee
authenticates the Note on which a Guarantee is endorsed, the Guarantee will be valid nevertheless. 
 (d) The delivery of any
Note by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Guarantee set forth in this Indenture on behalf of the Guarantors. 
 (e) In the event that the Company or any of its Restricted Subsidiaries creates or acquires any Domestic Subsidiary after the date of this Indenture, if required by Section 4.16 hereof, the Company
will cause such Domestic Subsidiary to comply to the extent applicable with the provisions of Section 4.16 hereof, this Article 11. 

Section 11.03 [Reserved] 

Section 11.04 Limitation of Liability of Certain Guarantors. 
 (a) Notwithstanding any other provision of this Article 11, each Guarantor confirms that it is the intention of each such Guarantor that the 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 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 11, result in the obligations of such Guarantor under its Guarantee not constituting a fraudulent transfer or conveyance. 
 (b) Notwithstanding any other provision of this Article 11, with respect to any Guarantor guaranteed hereby and the liability of such Guarantor for all obligations under this Article 11 and any Indenture
Document to which it is a party, liability shall be limited to the maximum liability that can be incurred by such Guarantor without rendering this Guarantee subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provisions of any applicable state or federal law. 
 Section 11.05 Unconditional Guaranty. 

(a) Each Guarantor will pay the Guaranteed Obligations strictly in accordance with the terms of the Indenture Documents to the extent
permitted by law regardless of any law, regulation or order now 

  
 86 

 
or hereafter in effect in any jurisdiction affecting any such term or any right of any Second Lien Secured Party with respect thereto. 

(b) This is a guarantee of payment and not of collection. The obligations of each Guarantor under or in respect of this Article 11 and
each Indenture Document to which such Guarantor is a party are independent of the Guaranteed Obligations or any other obligation of the Company or any other Guarantor under or in respect of the Indenture Documents, and a separate action or actions
may be brought and prosecuted against such Guarantor to enforce this Guarantee, irrespective of whether any action is brought against the Company or any other Guarantor or whether the Company or any other Guarantor is joined in any such action or
actions. 
 (c) The obligations of each Guarantor under this Article 11 and each Indenture Document to which such Guarantor is a
party shall not, to the maximum extent permitted by law, be affected by: 
 (1) any voluntary or involuntary
liquidation, dissolution, sale of all or substantially all assets, marshalling of assets or liabilities, receivership, conservatorship, assignment for the benefit of creditors, insolvency, bankruptcy, reorganization, arrangement, or composition of
the Company or any other Guarantor; 
 (2) any other proceeding involving the Company or any other Guarantor or
any asset of the Company or any other Guarantor under any law for the protection of debtors; or 
 (3) any
discharge, impairment, modification, release, or limitation of the liability of, or stay of actions or lien enforcement proceeding against, the Company or any other Guarantor, any property of the Company or any other Guarantor, or the estate in
bankruptcy of the Company or any other Guarantor in the course of or resulting from any such proceeding. 
 Section 11.06 No
Release Based on Actions of the Second Lien Secured Parties 
 No action that the Collateral Agent or any other Second Lien
Secured Party may take or omit to take in connection with any Indenture Document, any Guaranteed Obligation (or any other indebtedness owing by the Company to any Second Lien Secured Party), or any collateral security, and no course of dealing
between any Second Lien Secured Party and the Company, any Guarantor or any other Person, shall release or diminish any Guarantor’s Guaranteed Obligations, liabilities, agreements or duties hereunder, affect this Guarantee or any Indenture
Document to which Guarantor is a party, or afford any Guarantor any recourse against any Second Lien Secured Party, regardless of whether any such action or inaction may increase any risk to or liability of any Second Lien Secured Party, the Company
or any Guarantor or increase any risk to or diminish any safeguard of any collateral security. 
 Section 11.07 Waivers.

 The liability of each Guarantor under this Article 11 and each Indenture Document to which such Guarantor is a party shall
be irrevocable, absolute and unconditional irrespective of, and each Guarantor irrevocably waives, for purposes of this Article 11 and each Indenture Document to which such Guarantor is a party, any defense that it may now have or hereafter acquire
relating to any or all of the following (and each Guarantor acknowledges that it will receive substantial direct and indirect benefits from the financing arrangements contemplated by the Indenture Documents and that the waivers set forth below and
otherwise in this Article 11 are knowingly made in contemplation of such benefits), in each case to the maximum extent permitted by law: 

  
 87 

 (1) Any lack of validity or enforceability of any Indenture Document, any
agreement or instrument relating thereto, any defense arising by reason of any disability or other defense of any other Person or the cessation from any cause whatsoever of the liability of any other Person. 

(2) Any change in the time, manner or place of payment of, or in any other term of, any Guaranteed Obligation or any other
Obligation of the Company or any Guarantor in respect of the Indenture Documents, or any other amendment or waiver of or any consent to departure from any Indenture Document, including any increase in the Guaranteed Obligations resulting from the
extension of additional credit to the Company or any Guarantor or any of its Subsidiaries or otherwise. 
 (3)
Any taking, exchange, release or non-perfection of any collateral security, or any taking, release or amendment or waiver of, or consent to departure from any other guarantee of any Guaranteed Obligation. 

(4) Any manner of application of collateral security, or proceeds thereof, to any Guaranteed Obligation, or any manner of
sale or other disposition of any collateral security securing any Guaranteed Obligation or any other obligation of the Company or any Guarantor under the Indenture Documents or any other asset of the Company or any Guarantor or any of its
Subsidiaries, and any other obligation to marshall assets. 
 (5) Any right to require any Second Lien Secured
Party to proceed against any other Person, to exhaust any collateral security for the Guaranteed Obligations, to have any other Person joined with any Guarantor in any suit arising out of the Guaranteed Obligations or this Article 11 or to pursue
any other remedy in any Second Lien Secured Party’s power. 
 (6) Any change or restructuring of the
corporate structure or termination of the existence of the Company or any Guarantor or any of its Subsidiaries. 

(7) Any failure of any Second Lien Secured Party to disclose to the Company or any Guarantor any information relating to
the business, condition (financial or otherwise), operations, performance, properties or prospects of the Company or any Guarantor now or hereafter known to such Second Lien Secured Party (each Guarantor waiving any duty on the part of the Second
Lien Secured Parties to disclose such information). 
 (8) Any failure of any other Person to execute or deliver
any notation of guarantee, any supplement hereto or any other guarantee or agreement. 
 (9) Any release or
reduction of the liability of any Guarantor or other guarantor or surety with respect to the Guaranteed Obligations or any other compromise or settlement of the Guaranteed Obligations. 

(10) Promptness, diligence, notice of acceptance, presentment, demand for performance, notice of non-performance, default,
acceleration, protest or dishonor and, to the extent permitted by law, any other notice with respect to any Guaranteed Obligation and this Article 11, including notice of acceptance of this Article 11, as amended. 

(11) Any requirement that any Second Lien Secured Party create or perfect any Lien or protect or insure any property
subject thereto. 
 (12) Any right to revoke the provisions of this Article 11. 

  
 88 

 (13) Any election of remedies by any Second Lien Secured Party that in any
manner impairs, reduces, releases or otherwise adversely affects any collateral security or any subrogation, reimbursement, exoneration, contribution or indemnification right of any Guarantor or other right of any Guarantor to proceed against the
Company or any Guarantor, any other guarantor, any other Person or any collateral security. 
 (14) Any right of
set-off or counterclaim against or in respect of the Guaranteed Obligations of any Guarantor hereunder. 
 (15)
Any neglect, failure or refusal to take any action: 
  

	 	(a)	for the collection or enforcement of any Guaranteed Obligation, 

  

	 	(b)	to realize on any collateral security, 

  

	 	(c)	to enforce any Indenture Document, 

  

	 	(d)	to file or enforce a claim in any proceeding described in Section 11.05(c), 

 

	 	(e)	in connection with the administration of any Indenture Document or 

  

	 	(f)	otherwise concerning the Guaranteed Obligations or the Indenture Documents, or any delay in taking any such action. 

(16) The fact that any Guarantor may have incurred directly any Guaranteed Obligation or is otherwise primarily liable
therefor. 
 (17) Any duty of any Second Lien Secured Party to disclose to any Guarantor any matter, fact or
thing relating to the business, condition (financial or otherwise), operations, performance, properties or prospects of the Company or any Guarantor or any of its Subsidiaries now or hereafter known by such Second Lien Secured Party. 

(18) Any defense to the recovery by any Second Lien Secured Party against any Guarantor of any deficiency after a
non-judicial sale and any defense or benefit that may be afforded by applicable law (and in that connection each Guarantor acknowledges that the Collateral Agent may, without notice to or demand upon such Guarantor and without affecting the
liability of such Guarantor under this Article 11, foreclose under any mortgage by non-judicial sale). 
 (19)
Any statute of limitations applicable to the Guaranteed Obligations. 
 (20) To the extent permitted by law, any
other circumstance or any existence of or reliance on any representation by any Second Lien Secured Party, except for indefeasible payment in full in cash and performance in full of each Guaranteed Obligation, that might otherwise constitute a
defense available to, or a discharge of, any Guarantor or the Company or any other guarantor or surety. 
 Section 11.08
Continuing Guaranty; Reinstatement. 

  
 89 

 (a) The Guarantee set forth in this Article 11 is a continuing guaranty and shall remain in
full force and effect until the indefeasible payment in full in cash of the Guaranteed Obligations and all other amounts payable hereunder, unless released in accordance with this Article 11. 

(b) This Article 11 and each Indenture Document to which any Guarantor is a party shall continue to be effective or be reinstated, as the
case may be, if at any time any payment of any Guaranteed Obligation is rescinded or must otherwise be returned by any Second Lien Secured Party as a result of the insolvency, bankruptcy or reorganization of the Company or any Guarantor or
otherwise, all as though such payment had not been made, and each Guarantor jointly and severally will pay such amount to the applicable Second Lien Secured Party on demand. Any transfer by subrogation that is made as contemplated in
Section 11.02(b) prior to any such payment shall (regardless of the terms of such transfer) be automatically voided upon the making of any such payment or payments, and all rights so transferred shall thereupon automatically revert to and be
vested in the Second Lien Secured Parties. 
 Section 11.09 Subordination; Subrogation; Contribution 

(a) Subordination. Each Guarantor subordinates all debts, liabilities and other Obligations owed to such Guarantor by the Company
or any other Guarantor (the “Subordinated Obligations”) to the Guaranteed Obligations as follows: 
 (1) Except during the continuance of a Default (including the commencement and continuation of any proceeding under any Bankruptcy Law relating to the Company or any other Guarantor), any Guarantor may
receive regularly scheduled payments from the Company or any other Guarantor on account of the Subordinated Obligations. After the occurrence and during the continuance of any Default (including the commencement and continuation of any proceeding
under any Bankruptcy Law relating to the Company or any Guarantor), unless the Collateral Agent, subject to the provisions of the Intercreditor Agreement, otherwise agrees, no Guarantor shall demand, accept or take any action to collect any payment
on account of any Subordinated Obligation. 
 (2) In any proceeding under any Bankruptcy Law relating to the
Company or any Guarantor, the Second Lien Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy
Law, whether or not constituting an allowed claim in such proceeding (“Post-Petition Interest”)) before any Guarantor receives payment of any Subordinated Obligation. 

(3) After the occurrence and during the continuance of any Default (including the commencement and continuation of any
proceeding under any Bankruptcy Law relating to the Company or any Guarantor), each Guarantor shall, if the Collateral Agent, subject to the provisions of the Intercreditor Agreement, so requests, collect, enforce and receive payments on account of
the Subordinated Obligations as Collateral Agent for the Second Lien Secured Parties and deliver such payments to the Collateral Agent on account of the Guaranteed Obligations (including all Post-Petition Interest), together with any necessary
endorsements or other instruments of transfer, but without reducing or affecting in any manner the liability of such Guarantor under the other provisions of this Article 11. 
 (b) Limited Right of Subrogation. 
 (1) Until all Guaranteed
Obligations have been indefeasibly paid in full in cash and otherwise performed in full, and all obligations under each Indenture Document to which any 

  
 90 

 
Guarantor is a party have been paid and performed in full, no Guarantor shall have any right of subrogation, reimbursement, indemnity, exoneration, contribution or any other claim against the
Company or any other Guarantor or any collateral security in connection with the Guarantee provided in this Article 11. Until such time, each Guarantor waives any right to enforce any remedy that such Guarantor may have against the Company and any
right to participate in any collateral security. 
 (2) If any amount shall be paid to any Guarantor on account
of any subrogation or other right, any such other remedy, or any collateral security at any time when all of the Guaranteed Obligations and all other expenses guaranteed pursuant hereto shall not have been paid in full, such amount shall be held in
trust for the benefit of the Second Lien Secured Parties, shall be segregated from the other funds of such Guarantor and, subject to the provisions of the Intercreditor Agreement, shall forthwith be paid over to the Trustee to be held by the Trustee
for the benefit of the Second Lien Secured Parties as collateral security for, or then or at any time thereafter applied in whole or in part by the Trustee against, any Guaranteed Obligation, whether matured or unmatured, in such order as the
Trustee shall elect. 
 (3) If any Guarantor shall have paid off any Guaranteed Obligation and if all of the
Guaranteed Obligations shall have been indefeasibly paid in full in cash, the Trustee will, at the Guarantors’ expense and reasonable request, execute and deliver to such applicable Guarantor (without recourse, representation or warranty)
appropriate documents necessary to evidence the transfer, without representation or warranty, by subrogation to such Guarantor of an interest in the Guaranteed Obligations resulting from such payment by the Guarantors; provided that:

 (a) such transfer shall be subject to Section 11.08(b), and 

(b) without the consent of the Collateral Agent (which the Collateral Agent may withhold in its discretion) no Guarantor
shall have the right to be subrogated to any claim or right against the Company or any other Guarantor that has become owned by any Second Lien Secured Party, whose ownership has otherwise changed in the course of enforcement of the Indenture
Documents, or that the Collateral Agent otherwise has released or wishes to release from its Guaranteed Obligations. 
 (c)
Right of Contribution. After all Guaranteed Obligations have been indefeasibly paid in full in cash and otherwise performed in full, and all obligations under each Indenture Document to which any Guarantor is a party have been paid and
performed in full, the Guarantors that have made payments in respect of the Guaranteed Obligations shall be entitled to contribution from the other Guarantors, to the end that all such payments upon the Guaranteed Obligations shall be shared among
all such Guarantors in proportion to their respective Net Worths; provided that the contribution obligations of each such Guarantor shall be limited to the maximum amount that it can pay at such time without rendering its contribution
obligations voidable under applicable law relating to fraudulent conveyances or fraudulent transfers. “Net Worth” means, at any time and for any Guarantor: 

(1) the fair value of such Guarantor’s assets (other than such right of contribution), minus  

(2) the fair value of such Guarantor’s liabilities (other than its liabilities under its guaranty of the Guaranteed
Obligations). 

  
 91 

 Section 11.10 Guarantors May Consolidate, etc., on Certain Terms. 

(a) Except as otherwise provided in Section 11.11 hereof, no Guarantor may sell or otherwise dispose of all or substantially all of
its assets to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Company or another Guarantor, unless: 

(1) immediately after giving effect to such transaction, no Default or Event of Default exists; and 

(2) either: 
 (A) subject to Section 11.11 hereof, the Person acquiring the properties or assets in any such sale or disposition or the Person formed by or surviving any such consolidation or merger (if other than
the Guarantor) unconditionally assumes all the obligations of that Guarantor under this Indenture and the Guarantee, pursuant to a supplemental indenture substantially in the form specified in this Indenture; or 

(B) such sale or other disposition complies with Section 4.10 hereof. 

(b) In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the
Guarantor, such successor Person will succeed to and be substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the Guarantees to be
endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee. All the Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture
as the Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of such Guarantees had been issued at the date of the execution hereof. 

(c) Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses (a)(2)(A) and (a)(2)(B) above, nothing contained in this
Indenture or in any of the Notes will prevent any consolidation or merger of a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an
entirety to the Company or another Guarantor. 
 Section 11.11 Releases. 

The Guarantee of a Guarantor will be released: 
 (1) in connection with any sale or other disposition of all or substantially all of the properties or assets of that Guarantor (including by way of merger or consolidation) to a Person that is not (either
before or after giving effect to such transaction, the Company or a Subsidiary of the Company, if the sale or other disposition is not prohibited by Section 4.10 hereof; 

(2) in connection with any sale or other disposition of Capital Stock of that Guarantor to a Person that is not (either
before or after giving effect to such transaction) the Company or a Subsidiary of the Company, if after such sale or disposition such Guarantor is no 

  
 92 

 
longer a Restricted Subsidiary and the sale or other disposition is not prohibited by Section 4.10 hereof; 

(3) if the Company designates any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in accordance
with Section 4.17 hereof; 
 (4) upon Legal Defeasance or Covenant Defeasance in accordance with Article 8
hereof or satisfaction and discharge of this Indenture in accordance with Article 11 hereof; 
 (5) if such
Guarantor ceases to guarantee Indebtedness of the Company under a Credit Facility; or 
 (6) as provided in the
Intercreditor Agreement. 
 Any Guarantor not released from its obligations under its Guarantee as provided in this
Section 11.11 will remain liable for the full amount of principal of and interest and premium and Additional Interest, if any, on the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 11.

 Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that
such sale or other disposition was made by the Company in accordance with the provisions of this Indenture, including without limitation Section 4.10 hereof, the Trustee will execute any documents reasonably required in order to evidence the
release of any Guarantor from its obligations under its Guarantee. 
 ARTICLE 12 

SATISFACTION AND DISCHARGE 

Section 12.01 Satisfaction and Discharge. 
 This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when: 
 (1) 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 and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

(b) all Notes that have not been delivered to the Trustee for cancellation have become due and payable or will become due
and payable within one year by reason of the mailing of a notice of redemption or otherwise and the Company or any Guarantor 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, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, interest, premium and Additional Interest, if any, and accrued interest to the date of maturity or redemption; 

  
 93 

 (2) no Default or Event of Default has occurred and is continuing on the
date of the deposit or will occur as a result of the deposit and the deposit will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of
Guarantors is a party or by which the Company or any Guarantor is bound; 
 (3) the Company or any Guarantor has
paid or caused to be paid all sums payable by it under this Indenture; and 
 (4) the Company has delivered
irrevocable instructions to the Trustee under this Indenture to apply the deposited money toward the payment of the Notes at fixed maturity or on the redemption date, as the case may be. 
 In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating 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 (1) of this Section 12.01, the provisions of Sections 12.02 and 8.06 hereof will survive. In addition, nothing in this Section 12.01 will be deemed to discharge those provisions of Section 7.07
hereof, that, by their terms, survive the satisfaction and discharge of this Indenture. 
 Section 12.02 Application of Trust Money.

 Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 12.01
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 principal (and premium and Additional Interest, 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 12.01 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 12.01 hereof; provided that if the Company has made any payment of principal of,
premium or Additional Interest, if any, 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. 
 ARTICLE 13 

MISCELLANEOUS 

Section 13.01 Trust Indenture Act Controls. 
 If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties will control. 

  
 94 

 Section 13.02 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: 
 RAAM Global Energy Company 

1537 Bull Lea Road, Suite 200 
 Lexington, KY 40511 
 Facsimile No.: (859) 233-7471 

Attention: Jeff T. Craycraft, Treasurer 
 With a copy to: 
 Vinson & Elkins LLP 

First City Tower 

1001 Fannin Street, Suite 2500 
 Houston, TX 77002 
 Facsimile No.: (713) 615-5531 

Attention: T. Mark Kelly 
 If to the Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 

2 N. LaSalle Street, Suite 1020 
 Chicago, IL 60606 
 Facsimile No.: (312) 827-8542 

Attention: Corporate Trust Dept. 
 The Company, any Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or communications. 

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 facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight
air courier guaranteeing next day delivery. 
 Any notice or communication to a Holder will be mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any notice or communication will also be so mailed to any Person described in
TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with respect to other Holders. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the
addressee receives it. 
 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. 

  
 95 

 The Trustee agrees to accept and act upon instructions or directions pursuant to this
Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods (including pdf files). If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method)
and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. 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 instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions 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 or interception and misuse by
third parties. 
 Section 13.03 Communication by Holders of Notes with Other Holders of Notes. 

Holders 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 13.04 Certificate and
Opinion as to Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take any action under
this Indenture, the Company shall furnish to the Trustee: 
 (1) an Officers’ Certificate in form and
substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 13.05 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 
 (2) an Opinion of Counsel in form and substance
reasonably satisfactory to the Trustee (which must include the statements set forth in Section 13.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

Section 13.05 Statements Required in Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the
provisions of TIA § 314(e) and must include: 
 (1) a statement that the Person making such certificate or
opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such
covenant or condition has been satisfied; and 
 (4) a statement as to whether or not, in the opinion of such
Person, such condition or covenant has been satisfied. 

  
 96 

 Section 13.06 Rules by Trustee and Agents. 

The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules
and set reasonable requirements for its functions. 
 Section 13.07 No Personal Liability of Directors, Officers, Employees and
Stockholders. 
 No past, present or future director, officer, employee, incorporator or stockholder or other owner of
Capital Stock of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or any Guarantor under the Notes, this Indenture, the 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 13.08 Governing Law. 

THIS INDENTURE, THE NOTES AND THE GUARANTEES WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

Section 13.09 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 13.10 Successors. 

All agreements of the Company in this Indenture and the Notes will bind its successors, except as provided in Section 5.02. 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 11.10 hereof. 

Section 13.11 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. 
 Section 13.12 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 13.13 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. 
 [Signatures on following page]

  
 97 

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

 

					
	RAAM Global Energy Company
		
	By:	 	/s/ Howard Settle
		 	Name:	 	Howard Settle
		 	Title:	 	President
	
	CENTURY EXPLORATION NEW ORLEANS, INC.
	CENTURY EXPLORATION HOUSTON, INC.
	CENTURY EXPLORATION RESOURCES, INC.
	SITA ENERGY, LLC
	WINDSTAR ENERGY, LLC
		
	By:	 	/s/ Howard Settle
		 	Name:	 	Howard Settle
		 	Title:	 	President

 Indenture 

 
					
	THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., as Trustee and
Collateral Agent
		
	By:	 	/s/ Linda Garcia
		 	Name:	 	Linda Garcia
		 	Title:	 	Vice President

 Indenture 

 EXHIBIT A 
 [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] 

[Face of Note] 
  

 
 CUSIP/CINS
                 
 12.50% Senior Secured
Notes due 2015 
  

			
	 No.        
	  	$                

RAAM Global Energy Company 

promises to pay to
                                         
    or registered assigns, 
 the principal sum of
                                         
                                         
                   DOLLARS on October 1, 2015. 
 Interest Payment Dates: April 1 and October 1, commencing April 1, 2011 
 Record
Dates: March 15 and September 15 
 Dated:
                        , 20     

 

			
	RAAM Global Energy Company
		
	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-1

 [Back of Note] 
 12.50% Senior Secured Notes due 2015 
 Capitalized terms used herein have the
meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1)
INTEREST. RAAM Global Energy Company, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at 12.50% per annum from
                    , 20     until maturity and shall pay the Additional Interest, if any, payable pursuant to
Section 4 of the Registration Rights Agreement referred to below. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on April 1 and October 1 of each year, or if any such day is not a Business Day,
on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance;
provided that if there is no existing Default in the payment of interest, and 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 April 1, 2011. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
principal at the rate equal to 1% per annum in excess of 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 and Additional Interest (without regard to any applicable grace period) at the same rate to the extent lawful. 
 (2) METHOD OF PAYMENT. The Company will pay or cause to be paid the principal of, premium, if any, and interest and Additional Interest, if any, on, the
Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest and Additional Interest, if any 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 then due. The Company will pay all Additional
Interest, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement. 
 (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 any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

(4) INDENTURE. The Company issued the Notes under an Indenture dated as of September 24, 2010 (the
“Indenture”) among the Company, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act 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
Notes are secured obligations of the Company as provided in the Indenture and the Collateral Agreements. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder. 

(5) OPTIONAL REDEMPTION. 

  
 A-2

 (a) Except as set forth in subparagraph (b) of this Paragraph 5, the Company will not
have the option to redeem the Notes prior to October 1, 2014. On or after October 1, 2014, the Company may redeem all or a part of the Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as
percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed to the applicable redemption date, if redeemed during the periods set forth below, subject to the rights of
Holders on the relevant record date to receive interest on the relevant interest payment date: 
  

					
	 Year
	  	Percentage	 
	 October 1, 2014 through March 31, 2015
	  	 	106.250	% 
	 April 1, 2015 and thereafter
	  	 	100.000	% 

 (b) Notwithstanding the
provisions of subparagraph (a) of this Paragraph 5, at any time on or prior to October 1, 2014, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of the notes issued under the indenture at a
redemption price of 112.50% of the principal amount, plus accrued and unpaid interest and Additional Interest, if any, on the notes to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due
on an interest payment date that is on or prior to the redemption date), with the net cash proceeds of one or more Equity Offerings by the Company, provided that: (i) at least 65% of the aggregate principal amount of notes issued under
the indenture (including additional notes) remains outstanding immediately after the occurrence of such redemption (excluding notes held by the Company and its Subsidiaries); and (ii) the redemption occurs within 90 days of the date of the
closing of such Equity Offering. 
 (c) At any time prior to October 1, 2014, the Notes may be redeemed in whole or in part
at the option of the Company upon not less than 30 nor more than 60 days’ prior notice at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest and Additional
Interest, if any, to the date of redemption (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date). 

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 be required to make mandatory redemption or sinking fund payments with
respect to the Notes. The Company may at any time and from time to time purchase the Notes in the open market or otherwise if such purchase complies with the then applicable agreements of the Company, including this Indenture. 

(7) REPURCHASE AT THE OPTION OF
HOLDER.  
 (a) Upon the occurrence of a Change of Control, the Company will make an offer (a
“Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased to the date of settlement (the “Change of Control Purchase Date”), subject to the rights of Holders on
the relevant record date to receive interest due on the relevant interest payment date (the “Change of Control 

  
 A-3

 
Payment”). Within 30 days following any Change of Control, the Company will mail a notice to each Holder and the Trustee describing the transaction or transactions that constitute the
Change of Control and offering to repurchase notes as of the Change of Control Purchase Date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed, pursuant to the
procedures required by the indenture and described in such notice. 
 (b) If the Company or a Restricted
Subsidiary of the Company consummates any Asset Sales, on the 361st day after the Asset Sale (or, at the Company’s option, any earlier date), if the aggregate amount of Excess Proceeds then exceeds $15.0 million, the Company will make an Asset
Sale Offer to all Holders of notes, and all holders of other Indebtedness that is pari passu with the notes containing provisions similar to those set forth in the indenture with respect to offers to purchase or redeem with the proceeds of sales of
assets, to purchase the maximum principal amount of notes and such other pari passu Indebtedness that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of principal amount plus accrued and
unpaid interest and Additional Interest, if any, to the date of settlement, subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the date of settlement, and
will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by the indenture. If the aggregate principal amount of notes and
other pari passu Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select the notes and such other pari passu Indebtedness to be purchased on a pro rata basis. Upon completion of each Asset Sale
Offer, the amount of Excess Proceeds will be reset at zero. 
 (8) NOTICE OF
REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before a redemption date, the Company will mail or cause to be mailed, by first class mail, 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 this Indenture. Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. 

(9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form without coupons in denominations of $2,000 and integral multiples of $1,000. 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 corresponding Interest Payment Date. 
 (10)
PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 

(11) AMENDMENT, SUPPLEMENT AND WAIVER.
The Indenture or the Notes or Guarantees may be amended or supplemented as specified in the Indenture. 

  
 A-4

 (12) DEFAULTS AND
REMEDIES. Events of Default are specified in Indenture. In the case of an Event of Default arising from certain events of bankruptcy, insolvency or reorganization, with respect to the Company, all outstanding notes
will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding notes may declare all the notes
to be due and payable immediately. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold notice of any continuing Default or Event of Default from Holders of the notes if it determines that withholding notice is in their interest, except a Default or Event of
Default relating to the payment of principal of, or interest, premium or Additional Interest, if any, on, the notes. The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on
behalf of all of the Holders, rescind an acceleration and its consequences, if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium or Additional
Interest, if any, that has become due solely because of the acceleration) have been cured or waived. 
 (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. 
 (14)
NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or stockholder of the Company or any of the Guarantors, as such, will not have any liability
for any obligations of the Company or the Guarantors under the Notes, the Guarantees or the Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 
 (15)
AUTHENTICATION. This Note will not be valid until authenticated by the manual 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) ADDITIONAL RIGHTS OF HOLDERS OF
RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE NOTES. In addition to the rights provided to Holders of Notes under the
Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all the rights set forth in the Registration Rights Agreement dated as of September 24, 2010, among the Company, the Guarantors and the other parties named
on the signature pages thereof or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted Definitive Notes will have the rights set forth in one or more registration rights agreements, if any, among the Company, the
Guarantors and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the “Registration Rights Agreement”). 

(18) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be 

  
 A-5

 
printed on the Notes, and the Trustee may use CUSIP 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. 
 (19) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE GUARANTEES. 

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture and/or the Registration Rights
Agreement. Requests may be made to: 
 [Name of Company] 
 [Address] 
 Attention:
                     

  
 A-6

 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
	  	 

 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-7

 Option of Holder to Elect Purchase 
 If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 

 

			
	 ̈  Section 4.10	  	 ̈  Section 4.15

 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 

	4.10	or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$                    

 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-8

 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
[at maturity]
of
this Global Note
	  	 Amount of
increase in
Principal Amount
[at maturity]
of
this Global Note
	  	 Principal Amount
[at maturity] 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 
 FORM OF CERTIFICATE OF TRANSFER 
 [Company address block] 

[Registrar address block] 
 Re: [fill in full title of securities] 
 Reference is hereby made to
the Indenture, dated as of                                  (the
“Indenture”), [between/among]
                                        , as
issuer (the “Company”), [the Guarantors party thereto] and
                                    , 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 Temporary Global Note,]903(b)(3) the Regulation S [Permanent] 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 [and/,] (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 applicable holding period with respect to restricted securities set forth in Rule 144 under the Securities Act, as
amended, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person 

  
 B-1

 
(other than an 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 [Permanent] Global Note[, the Regulation S Temporary Global Note]903(b)(3) 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

  
 B-2

 
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. 

(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-3

 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. 

  
 B-4

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 [Company address block] 

[Registrar address block] 
 Re: [fill in full title of securities] 
 (CUSIP
                        ) 
 Reference is hereby made to the Indenture, dated as of
                                 (the “Indenture”),
[between/among]
                                        ,
as issuer (the “Company”), [the Guarantors party thereto] and
                                    , 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 herein, in the principal
amount of $                 in such Note[s] or interests (the “Exchange”). 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 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

  
 C-1

 
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-2

 EXHIBIT D 
 FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR 

[Company address block] 
 [Registrar
address block] 
 Re: [fill in full title of securities] 

Reference is hereby made to the Indenture, dated as of
                                 (the “Indenture”),
[between/among]
                                        ,
as issuer (the “Company”), [the guarantors party thereto] and
                                    , 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 are an “Institutional Accredited Investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended
(the “Securities Act”); 

  

	 	2.	any purchase of Notes by us will be for our own account or the account of one or more other Institutional Accredited Investors as to which we exercise sole investment
discretion; 

  

	 	3.	either (1) we are not, and will not transfer the Notes to, an entity holding “plan assets,” within the meaning of 29 C.F.R. 2510.3 -101, of any
“employee benefit plan” within the meaning of Section 3(3) of the Employee Retirement Security Act of 1974, as amended (“ERISA”) or any “plan” within the meaning of Section 4975 of the Internal Revenue Code of
1986, as amended (the “Code”) or (2) our purchase and holding of the Notes will not result in a non-exempt prohibited transaction under ERISA or Section 4975 of the Code (or any substantially similar applicable law);

  

	 	4.	we have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of purchasing the Notes, and we and any
accounts for which we are acting are able to bear the economic risks of an entire loss of our or their investment in the Notes; 

  

	 	5.	we are not acquiring the Notes with a view to any distribution thereof in a transaction that would violate the Securities Act or the securities laws of any state of the
U.S. or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary shall remain at all times within our and their control; 

 

	 	6.	 we have received a copy of the Offering Circular and acknowledge that we have had access to such financial and other information, and have been
afforded the opportunity to ask such questions of representatives of the Company and receive 

  
 D-1

	 	 
answers thereto, as we deem necessary to verify the information contained in the Offering Circular; and 

 

	 	7.	we acknowledge that the Notes have not been registered under the Securities Act and that the Notes may not be offered ors old within the U.S. or to, or for the benefit
of, U.S. persons except as set forth below. 

 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:
                                        

  
 D-2

 EXHIBIT E 
 FORM OF NOTATION OF GUARANTEE 
 For value received, each Guarantor (which term
includes any successor Person under the Indenture (as defined below)) agrees, subject to the provisions in the Indenture dated as of September 24, 2010 (the “Indenture”) among RAAM GLOBAL ENERGY COMPANY, (the
“Company”), the Guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as trustee (in such capacity, the “Trustee”) and as collateral agent (in such capacity, the “Collateral
Agent”), (a) the undersigned, jointly and severally with the other Guarantors, irrevocably, absolutely, and unconditionally guarantees to each Holder of Notes and the Trustee the prompt and complete payment and performance when due, and no
matter how the same shall become due, of all Guaranteed Obligations subject to any limitation set forth therein; (b) that each reference in the Indenture to a “Guarantor” shall also mean and be a reference to the undersigned;
(c) the obligations of the Guarantors to the Holders of Notes and to the Trustee pursuant to the Indenture are expressly set forth in Article 11 of the Indenture, and reference is hereby made to the Indenture for the precise terms of the
Guarantee; (d) to be bound by such provisions; and (e) authorizes and directs the Trustee, on behalf of such Holder, to take such action as may be necessary or appropriate to effectuate such provisions. 

NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS NOTATION OF GUARANTEE.

 Capitalized terms used but not defined herein have the meanings given to them in the Indenture. 

 

					
	[NAME OF GUARANTOR(S)]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  
 E-1

 EXHIBIT F 
 [FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT GUARANTORS]

 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
                    , 20    , among
                         (the “Guaranteeing Subsidiary”), a subsidiary of
                             (or its permitted successor), a Delaware corporation (the
“Company”), the Company, the other Guarantors (as defined in the Indenture referred to herein) and
                        , 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 September 24, 2010 providing for the issuance of 12.50% Senior
Secured Notes due 2015 (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 all of the Company’s Obligations under the Notes and the Indenture on the
terms and conditions set forth herein (the “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 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 Guarantee and in the Indenture including but not limited to Article 11 thereof. 

4. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer,
employee, incorporator, stockholder or agent of the Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Guarantees, the Indenture or this Supplemental
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the 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. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

 6. 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. 

  
 F-1

 7. EFFECT OF HEADINGS. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 8. 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-2

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated:
                    , 20     

 

					
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	[COMPANY]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	[EXISTING GUARANTORS]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

			
	[TRUSTEE],
	  as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 F-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]