Document:

Exhibit 4.6

 

 

COFFEE HOLDING CO., INC., as Issuer

 

and

 

●, as Trustee

 

INDENTURE

 

Dated as of ●

 

Subordinated Debt Securities

 

 

    	 

     

    

 

CROSS REFERENCE SHEET1

 

Between

 

Provisions of the Trust Indenture Act of 1939
and the Indenture to be dated as of _________, 20___ between COFFEE HOLDING CO., INC. and ___________________, as Trustee:

 

	Section of the Act	 	Section of Indenture
	310(a)(1) and (2)	 	5.08
	310(a)(3) and (4)	 	Inapplicable
	310(b)	 	5.09(a), (b) and (d)
	310(c)	 	Inapplicable
	311(a)	 	Inapplicable
	311(b)	 	Inapplicable
	311(c)	 	Inapplicable
	312(a)	 	3.05
	312(b)	 	3.05
	312(c)	 	4.02(c)
	313(a)	 	5.12
	313(b)(1)	 	5.12
	313(b)(2)	 	5.12
	313(c)	 	5.12
	313(d)	 	5.12
	314(a)	 	3.06
	314(b)	 	Inapplicable
	314(c)(1) and (2)	 	10.05
	314(c)(3)	 	Inapplicable
	314(d)	 	Inapplicable
	314(e)	 	10.05
	314(f)	 	Inapplicable
	315(a), (c) and (d)	 	5.01
	315(b)	 	4.11
	315(e)	 	4.12
	316(a)(1)	 	4.09
	316(a)(2)	 	Not required
	316(a) (last sentence)	 	6.04
	316(b)	 	4.07
	317(a)	 	4.02
	317(b)	 	3.03(a) and (b)
	318(a)	 	10.07

 

 

1 This Cross Reference Sheet is not part of the Indenture.

 

    	-2-

     

    

 

Table of Contents

(continued)

 

	 	 	Page
	 	 	 
	ARTICLE 1 DEFINITIONS	1
	Section 1.01	Certain Terms Defined	1
	 	 	 
	ARTICLE 2 SECURITIES	8
	Section 2.01	Forms Generally	9
	Section 2.02	Form of Trustee’s Certification of Authentication	9
	Section 2.03	Amount Unlimited; Issuable in Series	9
	Section 2.04	Authentication and Delivery of Securities	10
	Section 2.05	Execution of Securities	12
	Section 2.06	Certificate of Authentication	12
	Section 2.07	Denomination and Date of Securities; Payments of Interest	12
	Section 2.08	Registration, Transfer and Exchange	13
	Section 2.09	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	15
	Section 2.10	Cancellation of Securities; Destruction Thereof	16
	Section 2.11	Temporary Securities	16
	Section 2.12	Computation of Interest	17
	Section 2.13	CUSIP Numbers	17
	 	 	 
	ARTICLE 3 COVENANTS OF THE ISSUER AND THE TRUSTEE	17
	Section 3.01	Payment of Principal and Interest	17
	Section 3.02	Offices for Payments, etc	18
	Section 3.03	Paying Agents	18
	Section 3.04	Certificate of the Issuer	19
	Section 3.05	List of Securityholders	19
	Section 3.06	Reports by the Issuer	20
	Section 3.07	Corporate Existence	20
	Section 3.08	Restrictions on Mergers, Sales and Consolidations	20
	Section 3.09	Further Assurances	20
	 	 	 
	ARTICLE 4 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT	21
	Section 4.01	Event of Default Defined; Acceleration of Maturity; Waiver of Default	21

 

    	i

     

    

 

Table of Contents

(continued)

 

	 	 	Page
	 	 	 
	Section 4.02	Collection of Indebtedness by Trustee; Trustee May Prove Debt	23
	Section 4.03	Application of Proceeds	25
	Section 4.04	Suits for Enforcement	26
	Section 4.05	Restoration of Rights on Abandonment of Proceedings	26
	Section 4.06	Limitations on Suits by Securityholder	26
	Section 4.07	Unconditional Right of Securityholders to Institute Certain Suits	27
	Section 4.08	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	27
	Section 4.09	Control by Securityholders	27
	Section 4.10	Waiver of Past Defaults	28
	Section 4.11	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	28
	Section 4.12	Right of Court to Require Filing of Undertaking to Pay Costs	28
	 	 	 
	ARTICLE 5 CONCERNING THE TRUSTEE	29
	Section 5.01	Duties and Responsibilities of the Trustee	29
	Section 5.02	Certain Rights of the Trustee	30
	Section 5.03	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	31
	Section 5.04	Trustee and Agents May Hold Securities; Collections, etc	31
	Section 5.05	Monies Held by Trustee	32
	Section 5.06	Compensation and Indemnification of Trustee and Its Prior Claim	32
	Section 5.07	Right of Trustee to Rely on Officers’ Certificate, etc	32
	Section 5.08	Persons Eligible for Appointment as Trustee	33
	Section 5.09	Resignation and Removal; Appointment of Successor Trustee	33
	Section 5.10	Acceptance of Appointment by Successor	34
	Section 5.11	Merger, Conversion, Consolidation or Succession to Business of Trustee	35
	Section 5.12	Reports to the Trustee	35

 

    	ii

     

    

 

Table of Contents

(continued)

 

	 	 	Page
	 	 	 
	ARTICLE 6 CONCERNING THE SECURITYHOLDERS	35
	Section 6.01	Evidence of Action Taken by Securityholders	36
	Section 6.02	Proof of Execution of Instruments and of Holding of Securities; Record Date	36
	Section 6.03	Holders to be Treated as Owners	36
	Section 6.04	Securities Owned by Issuer Deemed Not Outstanding	36
	Section 6.05	Right of Revocation of Action Taken	37
	 	 	 
	ARTICLE 7 SUPPLEMENTAL INDENTURES	37
	Section 7.01	Supplemental Indentures Without Consent of Securityholders	37
	Section 7.02	Supplemental Indentures With Consent of Securityholders	39
	Section 7.03	Effect of Supplemental Indenture	40
	Section 7.04	Documents to Be Given to Trustee	40
	Section 7.05	Notation on Securities in Respect of Supplemental Indentures	41
	 	 	 
	ARTICLE 8 CONSOLIDATION, MERGER, SALE OR CONVEYANCE	41
	Section 8.01	Issuer May Consolidate, etc	41
	Section 8.02	Successor Corporation Substituted	41
	 	 	 
	ARTICLE 9 DISCHARGE OF INDENTURE	42
	Section 9.01	Defeasance Within One Year of Payment	42
	Section 9.02	Defeasance	43
	Section 9.03	Covenant Defeasance	44
	Section 9.04	Application of Trust Money	44
	Section 9.05	Repayment to Issuer	45
	 	 	 
	ARTICLE 10 MISCELLANEOUS PROVISIONS	45
	Section 10.01	Incorporators, Stockholders, Officers and Directors Exempt from Individual Liability	45
	Section 10.02	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	45
	Section 10.03	Successors and Assigns of Issuer Bound by Indenture	46
	Section 10.04	Notices and Demands on Issuer, Trustee and Securityholders	46

 

    	iii

     

    

 

Table of Contents

(continued)

 

	 	 	Page
	 	 	 
	Section 10.05	Officers’ Certificates and Opinions of Counsel; Statements to be Contained Therein	46
	Section 10.06	Payments Due on Saturdays, Sundays and Holidays	47
	Section 10.07	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939	47
	Section 10.08	New York Law to Govern	47
	Section 10.09	Counterparts	47
	Section 10.10	Effect of Headings	47
	 	 	 
	ARTICLE 11 REDEMPTION OF SECURITIES	48
	Section 11.01	Applicability of Article	48
	Section 11.02	Notice of Redemption; Partial Redemptions	48
	Section 11.03	Payment of Securities Called for Redemption	49
	Section 11.04	Exclusion of Certain Securities from Eligibility for Selection for Redemption	49
	Section 11.05	Conversion Arrangement On Call For Redemption	50
	 	 	 
	ARTICLE 12 CONVERSION OF SECURITIES	50
	Section 12.01	Applicability of Article	50
	Section 12.02	Right of Securityholders to Convert Securities	51
	Section 12.03	Issuance of Shares of Capital Stock on Conversion	51
	Section 12.04	No Payment or Adjustment for Interest or Dividends	52
	Section 12.05	Adjustment of Conversion Rate	52
	Section 12.06	No Fractional Shares to Be Issued	56
	Section 12.07	Preservation of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance	56
	Section 12.08	Notice to Security Holders of a Series Prior to Taking Certain Types of Action	57
	Section 12.09	Covenant to Reserve Shares for Issuance on Conversion of Securities	58
	Section 12.10	Compliance with Governmental Requirements	58
	Section 12.11	Payment of Taxes Upon Certificates for Shares Issued Upon Conversion	58
	Section 12.12	Trustee’s Duties with Respect to Conversion Provisions	58
	 	 	 
	ARTICLE 13 SUBORDINATION OF SECURITIES	59
	Section 13.01	Agreement Of Subordination	59

 

    	iv

     

    

 

Table of Contents

(continued)

 

	 	 	Page
	 	 	 
	Section 13.02	Payments to Holders	59
	Section 13.03	Subrogation Of Securities	61
	Section 13.04	Authorization By Holders	61
	Section 13.05	Notice to Trustee	62
	Section 13.06	Trustee’s Relation to Senior Indebtedness	62
	Section 13.07	No Impairment Of Subordination	62
	Section 13.08	Rights Of Trustee	62

 

    	v

     

    

 

THIS INDENTURE, dated as
of , between COFFEE HOLDING CO., INC., a Nevada corporation (the “Issuer”) and ●, a ● corporation,
as trustee (the “Trustee”).

 

W I T N E S S E T H:

 

WHEREAS, the Issuer has
duly authorized the issue from time to time of its unsecured debentures, notes or other evidences of indebtedness to be issued
in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be
authorized in accordance with the terms of this Indenture and to provide, among other things, for the authentication, delivery
and administration thereof, the Issuer has duly authorized the execution and delivery of this Indenture; and

 

WHEREAS, all things necessary
to make this Indenture a valid indenture and agreement according to its terms have been done;

 

NOW, THEREFORE:

 

In consideration of the
premises and the purchases of the Securities by the Holders thereof, the Issuer and the Trustee mutually covenant and agree for
the equal and proportionate benefit of the respective Holders from time to time of the Securities as follows:

 

ARTICLE 1

DEFINITIONS

 

Section 1.01 Certain
Terms Defined. The following terms (except as otherwise expressly provided or unless the context otherwise clearly requires)
for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this
Section. All other terms used in this Indenture that are defined in the Trust Indenture Act of 1939 or the definitions of which
in the Securities Act of 1933 are referred to in the Trust Indenture Act of 1939, as amended, including terms defined therein by
reference to the Securities Act of 1933, as amended, (except as herein otherwise expressly provided or unless the context otherwise
clearly requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in
force at the date of this Indenture. All accounting terms used herein and not expressly defined shall have the meanings assigned
to such terms in accordance with GAAP. The words “herein”, “hereof” and “hereunder” and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The
terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular.

 

“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 the purposes of this definition, “control” when used with respect to
any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

    	-1-

     

    

 

“Authorized Newspaper”
means a newspaper in the English language or in an official language of the country of publication, customarily printed on each
Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in the place in connection
with which the term is used or in the financial community of such place. If, because of temporary suspension of publication or
general circulation of any newspaper or for any other reason, it is impossible or impracticable to make any publication of any
notice required by this Indenture in the manner herein provided, such publication or other notice in lieu thereof which is made
at the written direction of the Issuer by the Trustee shall constitute a sufficient publication of such notice.

 

“Board of Directors”
means either the Board of Directors of the Issuer or any committee of such Board duly authorized to act hereunder.

 

“Business Day”
means, with respect to any Security, a day that in the city (or in all of the cities, if more than one) in which amounts are payable,
as specified in the form of such Security, is not a day on which banking institutions are authorized by law or regulation to close.

 

“Capitalized Lease”
means, as applied to any Person, any lease of any property (whether real, personal, or mixed) of which the discounted present value
of the rental obligations of such Person as lessee, in conformity with GAAP, is required to be capitalized on the balance sheet
of such Person; and “Capitalized Lease Obligation” is defined to mean the rental obligations, as aforesaid,
under such lease.

 

“Capital Stock”
means any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of
the Issuer’s capital stock or other ownership interests, whether now outstanding or issued after the date of this Indenture,
including, without limitation, all Common Stock and Preferred Stock.

 

“Closing Price”
on any day when used with respect to any class of Capital Stock means the closing sale price per share (or if no closing sale price
is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the
average ask prices) on that date as reported by The Nasdaq Global Select Market or, if such Capital Stock is not listed on The
Nasdaq Global Select Market, then on the principal U.S. national or regional securities exchange on which such Capital Stock is
then listed. If such Capital Stock is not listed on either The Nasdaq Global Select Market or on any U.S. national or regional
securities exchange on the relevant date, the Closing Price will be the last quoted bid price for the Company’s Common Stock
in the over-the-counter market on the relevant date as reported by the OTC Markets Group Inc. or similar organization. In the event
that no such quotation is available for any day, the Board of Directors shall be entitled to determine in good faith the current
market price on the basis of such quotations as it considers appropriate.

 

“Commission”
means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934,
or if at any time after the execution and delivery of this Indenture such Commission is not existing and performing the duties
now assigned to it under the Trust Indenture Act, then the body performing such duties on such date.

 

    	-2-

     

    

 

“Common Stock”
means any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of
the Issuer’s common stock, par value $0.001 per share, whether now outstanding or issued after the date of the Indenture,
including, without limitation, all series and classes of such common stock.

 

“Corporate Trust
Office” means the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular
time, be principally administered, which office is, at the date as of which this Indenture is dated, located at ●.

 

“Currency Agreement”
means any foreign exchange contract, currency swap agreement, or other similar agreement or arrangement designed to protect against
the fluctuation in currency values.

 

“Default”
means any Event of Default as defined in Section 4.01 and any event that is, or after notice or passage of time or both would be,
an Event of Default.

 

“Depositary”
means, with respect to the Securities of any series issuable or issued in the form of one or more Registered Global Securities,
the Person designated as Depositary by the Issuer pursuant to Section 2.03 until a successor Depositary shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each Person
who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with
respect to the Securities of any such series shall mean the Depositary with respect to the Registered Global Securities of that
series.

 

“Determination
Date” has the meaning specified in Section 12.05.

 

“Event of Default”
has the meaning specified in Section 4.01.

 

“GAAP”
means generally accepted accounting principles in the United States of America as in effect as of the date of determination, including,
without limitation, those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute
of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other
statements by such other entity as approved by a significant segment of the accounting profession. All ratios and computations
contained in this Indenture shall be computed in conformity with GAAP applied on a consistent basis.

 

“Guarantee”
means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness or other obligation
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise,
of such Person:

 

(i) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of such other Person (whether arising
by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities, or services, to take-or-pay,
or to maintain financial statement conditions or otherwise); or

 

    	-3-

     

    

 

(ii) entered into for purposes
of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such
obligee against loss in respect thereof (in whole or in part);

 

provided, that the term “Guarantee”
shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee”
used as a verb has a corresponding meaning.

 

“Holder”,
“Securityholder” or other similar terms mean the registered holder of any Security.

 

“Indebtedness”
means, with respect to any Person at any date of determination (without duplication):

 

(i) all indebtedness of such
Person for borrowed money;

 

(ii) all obligations of such
Person evidenced by bonds, debentures, notes, or other similar instruments, in each case, for value received or settlement of claims;

 

(iii) all obligations of
such Person in respect of letters of credit or other similar instruments (including reimbursement obligations with respect thereto);

 

(iv) all obligations of such
Person to pay the deferred and unpaid purchase price of property or services (but excluding trade accounts payable or accrued liabilities
arising in the ordinary course of business);

 

(v) all obligations of such
Person as lessee under Capitalized Leases;

 

(vi) all Indebtedness of
other Persons secured by a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person; provided
that the amount of such Indebtedness shall be the lesser of:

 

(1) the fair market value of such asset
at such date of determination; and

 

(2) amount of such Indebtedness;

 

(vii) all Indebtedness of
other Persons to the extent Guaranteed by such Person; and

 

(viii) to the extent not
otherwise included in this definition, obligations under Currency Agreements and Interest Rate Agreements.

 

Notwithstanding the foregoing,
in no event shall the term “Indebtedness” be deemed to include letters of credit or bonds that secure performance or
surety bonds or similar instruments that are issued in the ordinary course of business.

 

    	-4-

     

    

 

The amount of Indebtedness
of any Person at any date shall be the outstanding balance at such date of all unconditional obligations as described above and,
with respect to contingent obligations, the maximum liability upon the occurrence of the contingency giving rise to the obligation;
provided that:

 

(x) the amount outstanding
at any time of any Indebtedness issued with original issue discount is the face amount of such Indebtedness less the remaining
unamortized portion of the original issue discount of such Indebtedness at such time as determined in conformity with GAAP; and

 

(y) Indebtedness shall
not include any liability for federal, state, local, or other taxes.

 

“Indenture”
means this instrument as originally executed and delivered or, if amended or supplemented as herein provided, as so amended or
supplemented or both, and shall include the forms and terms of particular series of Securities established as contemplated hereunder.

 

“Interest”
means, when used with respect to non-interest bearing Securities, interest payable after maturity. “Interest Rate Agreement”
means any obligation of any Person pursuant to any interest rate swap, cap, collar or similar arrangement providing protection
against fluctuations in interest rates. For purposes of the Indenture, the amount of such obligation shall be the amount determined
in respect thereof as of the end of the then most recently ended fiscal quarter of such Person, based on the assumption that such
obligation had terminated at the end of such fiscal quarter, and in making such determination, if any agreement relating to such
obligation provides for the netting of amounts payable by and to such Person thereunder or if any such agreement provides for the
simultaneous payment of amounts by and to such Person, then in each such case, the amount of such obligation shall be the net amount
so determined, plus any premium due upon default by such Person.

 

“Issuer”
means the Person identified as “Issuer” in the first paragraph hereof and, subject to Article 8, its successors and
assigns.

 

“Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind, or any other
type of preferential arrangement that has the practical effect of creating a security interest, in respect of such asset. For the
purposes of this Indenture, the Issuer shall be deemed to own subject to a Lien any asset that it has acquired or holds subject
to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating
to such asset.

 

“Officers’
Certificate” means a certificate signed by the chairman of the Issuer’s Board of Directors, its president or any
vice president, and by its treasurer, any assistant treasurer, its secretary or any assistant secretary of the Issuer, and delivered
to the Trustee. Each such certificate shall comply with Section 314 of the Trust Indenture Act of 1939 and include the statements
provided for in Section 10.05.

 

“Opinion of Counsel”
means an opinion in writing signed by legal counsel who may be an employee of or counsel to the Issuer and who shall be satisfactory
to the Trustee. Each such opinion shall comply with Section 314 of the Trust Indenture Act of 1939 and include the statements provided
for in Section 10.05, if and to the extent required hereby.

 

    	-5-

     

    

 

“Original Issue
Date” of any Security (or portion thereof) means the earlier of (i) the date of such Security or (ii) the date of any
Security (or portion thereof) for which such Security was issued (directly or indirectly) on registration of transfer, exchange
or substitution.

 

“Original Issue
Discount Security” means any Security that provides for an amount less than the Principal amount thereof to be due and
payable upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01.

 

“Outstanding”,
when used with reference to Securities, shall, subject to the provisions of Section 6.04, mean, as of any particular time, all
Securities authenticated and delivered by the Trustee under this Indenture, except:

 

(i) Securities theretofore
canceled by the Trustee or delivered to the Trustee for cancellation;

 

(ii) Securities, or portions
thereof, for the payment or redemption of which monies in the necessary amount shall have been deposited in trust with the Trustee
or with any paying agent (other than the Issuer) or shall have been set aside, segregated and held in trust by the Issuer for the
Holders of such Securities (if the Issuer shall act as its own paying agent), provided that if such Securities, or portions thereof,
are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or provision
satisfactory to the Trustee shall have been made for giving such notice; and

 

(iii) Securities in substitution
for which other Securities shall have been authenticated and delivered, or which shall have been paid, pursuant to the terms of
Section 2.09 (except with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security
is held by a person in whose hands such Security is a legal, valid and binding obligation of the Issuer).

 

In determining whether
the Holders of the requisite Principal amount of Outstanding Securities of any or all series have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the Principal amount of an Original Issue Discount Security that shall be deemed
to be Outstanding for such purposes shall be the amount of the Principal thereof that would be due and payable as of the date of
such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 4.01.

 

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

 

“Preferred Stock”
means any and all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of
the Issuer’s preferred stock, par value $0.001 per share, whether now outstanding or issued after the date of the Indenture,
including, without limitation, all series and classes of such preferred stock.

 

“Principal”
means, with respect to the Securities or any Security or any portion thereof, the principal amount of such Securities, Security
or portion thereof, and shall be deemed to include “and premium, if any”.

 

    	-6-

     

    

 

“record date”
as used with respect to any interest payment date (except a date for payment of defaulted interest), has the meaning specified
in Section 2.07.

 

“Registered Global
Security” means a Security evidencing all or a part of a series of Registered Securities, issued to the Depositary for
such series in accordance with Section 2.04, and bearing the legend prescribed in Section 2.04.

 

“Registered Security”
means any Security registered on the register maintained by the Issuer pursuant to Section 2.08.

 

“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
who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively,
or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular
subject and who shall have direct responsibility for the administration of this Indenture.

 

“Security”
or “Securities” has the meaning stated in the first recital of this Indenture, or, as the case may be, Securities
that have been authenticated and delivered under this Indenture.

 

“Senior Indebtedness”
of the Issuer means (a) all Indebtedness of the Issuer, whether currently outstanding or hereafter issued, unless, by the terms
of the instrument creating or evidencing such Indebtedness, it is provided that such Indebtedness is not superior in right of payment
to the Securities, and (b) any modifications, refunding, deferrals, renewals or extensions of any such Indebtedness or securities,
notes or other evidence of Indebtedness issued in exchange for such Indebtedness; provided that in no event shall “Senior
Indebtedness” include (i) Indebtedness of the Issuer owed or owing to any Subsidiary of the Issuer or any officer, director
or employee of the Issuer or any Subsidiary of the Issuer, (ii) Indebtedness to trade creditors or (iii) any liability for taxes
owned or owing by the Issuer.

 

“Subsidiary”
means, with respect to any Person, any corporation, association or other business entity of which more than 50% of all votes represented
by all classes of outstanding Voting Stock is owned, directly or indirectly, by such Person and one or more other Subsidiaries
of such Person.

 

“Trustee”
means the Person identified as “Trustee” in the first paragraph hereof and, subject to the provisions of Article
5, shall also include any successor trustee.

 

“Trust Indenture
Act of 1939” (except as otherwise provided in Section 7.01 and Section 7.02) means the Trust Indenture Act of 1939 as
in force at the date as of which this Indenture was originally executed.

 

“UCC”
means the Uniform Commercial Code, as in effect in each applicable jurisdiction. “Unregistered Security” means any
Security other than a Registered Security.

 

“U.S. Government
Obligations” means securities that are (i) direct obligations of the United States of America for the payment of which
its full faith and credit is pledged or (ii) obligations of an agency of instrumentality of the United States of America the payment
of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, and shall also include
a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific
payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder
of a depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from
the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of interest on or principal of the U.S. Government Obligation evidenced by such depository receipt.

 

    	-7-

     

    

 

“Voting Stock”
means, with respect to any Person, capital stock of any class or kind ordinarily having the power to vote for the election of directors,
managers or other voting members of the governing body of such Person.

 

“vice president”
when used with respect to the Issuer or the Trustee, means any vice president, whether or not designated by a number or a word
or words added before or after the title of “vice president”.

 

“Wholly-Owned”
is defined to mean, with respect to any Subsidiary of any Person, such Subsidiary if all of the outstanding common stock or other
similar equity ownership interests (but not including preferred stock) in such Subsidiary (other than any director’s qualifying
shares or investments by foreign nationals mandated by applicable law) is owned directly or indirectly by such Person.

 

“Yield to Maturity”
means the yield to maturity on a series of securities, calculated at the time of issuance of such series, or, if applicable, at
the most recent redetermination of interest on such series, and calculated in accordance with accepted financial practice.

 

ARTICLE 2

SECURITIES

 

Section 2.01 Forms Generally.
The Securities of each series shall be substantially in such form (not inconsistent with this Indenture) as shall be established
by or pursuant to a resolution of the Board of Directors or in one or more indentures supplemental hereto, in each case with such
appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have
imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may
be required to comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities exchange
or to conform to general usage, all as may be determined by the officers executing such Securities, as evidenced by their execution
of the Securities. The Issuer shall furnish any such legends to the Trustee in writing.

 

The definitive Securities
shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined
by the officers executing such Securities, as evidenced by their execution of such Securities.

 

    	-8-

     

    

 

Section 2.02 Form of
Trustee’s Certification of Authentication. The Trustee’s certificate of authentication on all Securities shall
be in substantially the following form:

 

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

 

	●,	 	 
	as Trustee	 
	 	 
	By:	 	 
	 	Authorized Signatory:	 

 

Section 2.03 Amount
Unlimited; Issuable in Series. The aggregate Principal amount of Securities which may be authenticated and delivered under
this Indenture is unlimited.

 

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

 

(a) the title of the Securities
of the series (which shall distinguish the Securities of the series from all other Securities);

 

(b) any limit upon the
aggregate Principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except
for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of the series pursuant to Section 2.08, Section 2.09, Section 2.11 or Section 12.03);

 

(c) the date or dates on
which the Principal of the Securities of the series is payable;

 

(d) the rate or rates at
which the Securities of the series shall bear interest, if any, or the method by which such rate shall be determined, the date
or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable and the record
dates for the determination of Holders to whom interest is payable;

 

(e) the place or places
where the Principal of and any interest on Securities of the series shall be payable (if other than as provided in Section 3.02);

 

(f) the price or prices
at which, the period or periods within which and the terms and conditions upon which Securities of the series may be redeemed,
in whole or in part, at the option of the Issuer;

 

(g) the obligation, if
any, of the Issuer to redeem, purchase or repay Securities of the series at the option of a Holder thereof and the price or prices
at which, the period or periods within which and the terms and conditions upon which Securities of the series shall be redeemed,
purchased or repaid, in whole or in part, pursuant to such obligation;

 

    	-9-

     

    

 

(h) the obligation, if
any, of the Issuer to permit the conversion of the Securities of such series into Capital Stock, and the terms and conditions upon
which such conversion shall be effected (including, without limitation, the initial conversion price or rate, the conversion period
and any other provision in addition to or in lieu of those set forth in this Indenture relative to such obligation);

 

(i) if other than denominations
of $1,000 and any multiple thereof, the denominations in which Securities of the series shall be issuable;

 

(j) if other than the Principal
amount thereof, the portion of the Principal amount of Securities of the series which shall be payable upon declaration of acceleration
of the maturity thereof pursuant to Section 4.01 or provable in bankruptcy pursuant to Section 4.02;

 

(k) if the Securities of
the series are issuable in whole or in part as one or more Registered Global Securities, the identity of the Depositary for such
Registered Global Security or Securities;

 

(l) any other terms of
the series (which terms shall not be inconsistent with the provisions of this Indenture);

 

(m) any trustees, authenticating
or paying agents, transfer agents or registrar or any other agents with respect to the Securities of such series; and

 

(n) the extent to which
payments on the Securities will be subordinated to the payment of Senior Indebtedness of the Issuer.

 

All Securities of any one
series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to such
resolution of the Board of Directors or in any such indenture supplemental hereto.

 

Section 2.04 Authentication
and Delivery of Securities. At any time and from time to time after the execution and delivery of this Indenture, the Issuer
may deliver Securities of any series executed by the Issuer to the Trustee for authentication, and the Trustee shall thereupon
authenticate and deliver such Securities to or upon the written order of the Issuer, such order to be signed by both (a) the chairman
of its Board of Directors, its president or any vice president and by its treasurer, any assistant treasurer, its secretary or
any assistant secretary, without any further action by the Issuer. In authenticating such Securities and accepting the additional
responsibilities under this Indenture in relation to such Securities the Trustee shall receive, and (subject to Section 5.01) shall
be fully protected in relying upon:

 

(a) a certified copy of
any resolution or resolutions of the Board of Directors authorizing the action taken pursuant to the resolution or resolutions
delivered under clause (b) below;

 

    	-10-

     

    

 

(b) a copy of any resolution
or resolutions of the Board of Directors relating to such series, in each case certified by the secretary or an assistant secretary
of the Issuer;

 

(c) an executed supplemental
indenture, if any, and the documentation required to be delivered pursuant to Section 7.04;

 

(d) an Officers’
Certificate setting forth the form and terms of the Securities as required pursuant to Section 2.01 and Section 2.03, respectively
and prepared in accordance with Section 10.05;

 

(e) an Opinion of Counsel,
prepared in accordance with Section 10.05, to the effect:

 

(i) that the
form or forms and terms of such Securities have been established by or pursuant to a resolution of the Board of Directors or by
a supplemental indenture as permitted by Section 2.01 and Section 2.03 in conformity with the provisions of this Indenture; and

 

(ii) that such
Securities, when authenticated and delivered by the Trustee and issued by the Issuer in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute valid and binding obligations of the Issuer enforceable against the Issuer
in accordance with their terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance or similar laws now or hereafter in effect relating to creditors’ rights generally, and
general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law).

 

The Trustee shall have
the right to decline to authenticate and deliver any Securities under this section if the Trustee, being advised by counsel, determines
that such action may not lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of
trustees, executive committee, or a trust committee of directors or trustees or Responsible Officers shall determine that such
action would expose the Trustee to personal liability.

 

If the Issuer shall establish
pursuant to Section 2.03 that the Securities of a series or a portion thereof are to be issued in the form of one or more Registered
Global Securities, then the Issuer shall execute (in accordance with Section 2.05) and the Trustee shall authenticate and make
available for delivery one or more Registered Global Securities that (i) shall represent and shall be denominated in an amount
equal to the aggregate Principal amount of all of the Securities of such series issued in such form and not yet canceled, (ii)
shall be registered in the name of the Depositary for such Registered Global Security or Securities or the nominee of such Depositary,
(iii) shall be delivered by the Trustee to such Depositary or its custodian or pursuant to such Depositary’s instructions
and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in part
for Securities in definitive registered form, this Security 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.”

 

    	-11-

     

    

 

Section 2.05 Execution
of Securities. The Securities shall be signed on behalf of the Issuer by the chairman of its Board of Directors, its president,
any vice president, its treasurer or any assistant treasurer, under its corporate seal and attested by its secretary or any assistant
secretary. Such signatures may be the manual or facsimile signatures of the present or any future such officers. The seal of the
Issuer may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Securities.
Typographical and other minor errors or defects in any such reproduction of the seal or any such signature shall not affect the
validity or enforceability of any Security that has been duly authenticated and delivered by the Trustee.

 

In case any officer of
the Issuer who shall have signed any of the Securities shall cease to be such officer before the Security so signed shall be authenticated
and delivered by the Trustee or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or disposed
of as though the person who signed such Security had not ceased to be such officer of the Issuer; and any Security may be signed
on behalf of the Issuer by such persons as, at the actual date of the execution of such Security, shall be the proper officers
of the Issuer, although at the date of the execution and delivery of this Indenture any such person was not such an officer.

 

Section 2.06 Certificate
of Authentication. Only such Securities as shall bear thereon a certificate of authentication substantially in the form hereinbefore
recited, executed by the Trustee by the manual signature of one of its authorized signatories, shall be entitled to the benefits
of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon any Security executed by the
Issuer shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and
that the Holder is entitled to the benefits of this Indenture.

 

Section 2.07 Denomination
and Date of Securities; Payments of Interest. The Securities shall be issuable as registered securities without coupons and
in denominations as shall be specified as contemplated by Section 2.03. In the absence of any such specification with respect to
the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any multiple thereof.
The Securities shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plan as the officers
of the Issuer executing the same may determine as evidenced by the execution and authentication thereof.

 

Each Security shall be
dated the date of its authentication, shall bear interest, if any, from the date and shall be payable on the dates, in each case,
which shall be specified as contemplated by Section 2.03.

 

The person in whose name
any Security of any series is registered at the close of business on any record date applicable to a particular series with respect
to any interest payment date for such series shall be entitled to receive the interest, if any, payable on such interest payment
date notwithstanding any transfer or exchange of such Security subsequent to the record date and prior to such interest payment
date, except if and to the extent the Issuer shall default in the payment of the interest due on such interest payment date for
such series, in which case such defaulted interest shall be paid to the persons in whose names Outstanding Securities for such
series are registered at the close of business on a subsequent record date (which shall be not less than five Business Days prior
to the date of payment of such defaulted interest) established by notice given by mail by or on behalf of the Issuer to the Holders
of Securities not less than 15 days preceding such subsequent record date. The term “record date” as used with
respect to any interest payment date (except a date for payment of defaulted interest) shall mean the date specified as such in
the terms of the Securities of any particular series, or, if no such date is so specified, if such interest payment date is the
first day of a calendar month, the fifteenth day of the next preceding calendar month or, if such interest payment date is the
fifteenth day of a calendar month, the first day of such calendar month, whether or not such record date is a Business Day.

 

    	-12-

     

    

 

Section 2.08 Registration,
Transfer and Exchange. The Issuer will keep or cause to be kept at each office or agency to be maintained for the purpose as
provided in Section 3.02 a register or registers in which, subject to such reasonable regulations as it may prescribe, it will
register, and will register the transfer of, Securities as in this Article provided. Such register shall be in written form in
the English language or in any other form capable of being converted into such form within a reasonable time. At all reasonable
times such register or registers shall be open for inspection by the Trustee.

 

At the option of the Holder
thereof, Registered Securities of any series (other than a Registered Global Security, except as set forth below) may be exchanged
for a Registered Security or Registered Securities of such series and tenor having authorized denominations and an equal aggregate
Principal amount, upon surrender of such Registered Securities to be exchanged at the agency of the Issuer that shall be maintained
for such purpose in accordance with Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided.
If the Securities of any series are issued in both registered and unregistered form, except as otherwise established pursuant to
Section 2.03, at the option of the Holder thereof, Unregistered Securities of any series may be exchanged for Registered Securities
of such series and tenor having authorized denominations and an equal aggregate Principal amount, upon surrender of such Unregistered
Securities to be exchanged at the agency of the Issuer that shall be maintained for such purpose in accordance with Section 3.02
and upon payment, if the Issuer shall so require, of the charges hereinafter provided. At the option of the Holder thereof, if
Unregistered Securities of any series, maturity date, interest rate and Original Issue Date are issued in more than one authorized
denomination, except as otherwise established pursuant to Section 2.03, such Unregistered Securities may be exchanged for Unregistered
Securities of such series and tenor having authorized denominations and an equal aggregate Principal amount, upon surrender of
such Unregistered Securities to be exchanged at the agency of the Issuer that shall be maintained for such purpose in accordance
with Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided. Registered Securities
of any series may not be exchanged for Unregistered Securities of such series. Whenever any Securities are so surrendered for exchange,
the Issuer shall execute, and the Trustee shall authenticate and make available for delivery, the Securities which the Holder making
the exchange is entitled to receive.

 

    	-13-

     

    

 

All Registered Securities
presented for registration of transfer, exchange, redemption, conversion or payment shall be duly endorsed by, or be accompanied
by a written instrument or instruments of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder
or his attorney duly authorized in writing.

 

The Issuer may require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any exchange or
registration of transfer of Securities. No service charge shall be made for any such transaction.

 

Notwithstanding any other
provision of this Section 2.08, unless and until it is exchanged in whole or in part for Securities in definitive registered form,
a Registered Global Security representing all or a portion of the Securities of a series may not be transferred except as a whole
by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another
nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of
such successor Depositary.

 

If at any time the Depositary
for any Registered Global Securities of any series notifies the Issuer that it is unwilling or unable to continue as Depositary
for such Registered Global Securities or if at any time the Depositary for such Registered Global Securities shall no longer be
eligible under applicable law, the Issuer shall appoint a successor Depositary eligible under applicable law with respect to such
Registered Global Securities. If a successor Depositary eligible under applicable law for such Registered Global Securities is
not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware of such ineligibility, the Issuer
will execute, and the Trustee, upon receipt of the Issuer’s order for the authentication and delivery of definitive Registered
Securities of such series and tenor, will authenticate and make available for delivery Registered Securities of such series and
tenor, in any authorized denominations, in an aggregate Principal amount equal to the Principal amount of such Registered Global
Securities, in exchange for such Registered Global Securities.

 

The Issuer may at any time
and in its sole discretion determine that any Registered Global Securities of any series shall no longer be maintained in global
form. In such event, or in the event that there shall have occurred and be continuing an Event of Default with respect to a series
of Securities, the Issuer will, upon the request of any Holder, execute, and the Trustee, upon receipt of the Issuer’s order
for the authentication and delivery of definitive Registered Securities of such series and tenor, will authenticate and make available
for delivery, Registered Securities of such series and tenor in any authorized denominations, in an aggregate Principal amount
equal to the Principal amount of such Registered Global Securities, in exchange for such Registered Global Securities.

 

Any time the Registered
Securities of any series are not in the form of Registered Global Securities pursuant to the preceding two paragraphs, the Issuer
agrees to supply the Trustee with a reasonable supply of certificated Registered Securities without the legend required by Section
2.04 and the Trustee agrees to hold such Registered Securities in safekeeping until authenticated and delivered pursuant to the
terms of this Indenture.

 

    	-14-

     

    

 

If established by the Issuer
pursuant to Section 2.03 with respect to any Registered Global Security, the Depositary for such Registered Global Security may
surrender such Registered Global Security in exchange in whole or in part for Registered Securities of the same series and tenor
in definitive registered form on such terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute,
and the Trustee shall authenticate and make available for delivery, without service charge,

 

(i) to the Person
specified by such Depositary new Registered Securities of the same series and tenor, of any authorized denominations as requested
by such Person, in an aggregate Principal amount equal to and in exchange for such Person’s beneficial interest in the Registered
Global Security; and

 

(ii) to such
Depositary a new Registered Global Security in a denomination equal to the difference, if any, between the Principal amount of
the surrendered Registered Global Security and the aggregate Principal amount of Registered Securities authenticated and delivered
pursuant to clause (i) above.

 

Registered Securities issued
in exchange for a Registered Global Security pursuant to this Section 2.08 shall be registered in such names and in such authorized
denominations as the Depositary for such Registered Global Security, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee or an agent of the Issuer or the Trustee. The Trustee or such agent shall deliver such
Securities to or as directed by the Persons in whose names such Securities are so registered.

 

All Securities issued upon
any transfer or exchange of Securities shall be valid obligations of the Issuer, evidencing the same debt, and entitled to the
same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange.

 

Notwithstanding anything
herein or in the forms or terms of any Securities to the contrary, none of the Issuer, the Trustee or any agent of the Issuer or
the Trustee shall be required to exchange any Unregistered Security for a Registered Security if such exchange would result in
adverse Federal income tax consequences to the Issuer (such as, for example, the inability of the Issuer to deduct from its income,
as computed for Federal income tax purposes, the interest payable on the Unregistered Securities) under then applicable United
States Federal income tax laws. The Trustee and any such agent shall be entitled to rely on an Officers’ Certificate or an
Opinion of Counsel in determining such result.

 

Neither the Registrar nor
the Issuer shall be required (i) to issue, authenticate, register the transfer of or exchange Securities of any series for a period
of 15 days before the mailing of a notice of redemption of such Securities to be redeemed or (ii) to register the transfer of or
exchange any Security selected for redemption in whole or in part.

 

Section 2.09 Mutilated,
Defaced, Destroyed, Lost and Stolen Securities. In case any temporary or definitive Security shall become mutilated or defaced
and shall be surrendered to the Trustee, the Issuer shall execute, and the Trustee shall authenticate and deliver, a new Security
of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced
Security. If the Holder of any Security claims that the Security has been lost, destroyed or wrongfully taken, the Issuer shall
execute, and the Trustee shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously
outstanding, in exchange and substitution for the lost, destroyed or wrongfully taken Security, if the applicant so requests before
the Issuer has notice that the Security has been acquired by a protected purchaser, and the applicant furnishes to the Issuer and
to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify and
defend and to save each of them harmless and the applicant satisfies other reasonable requirements imposed by the Issuer.

 

    	-15-

     

    

 

Upon the issuance of any
substitute Security, the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and its counsel) connected
therewith. In case any Security which has matured or is about to mature or has been called for redemption in full shall become
mutilated or defaced or be destroyed, lost or stolen, the Issuer may instead of issuing a substitute Security, pay or authorize
the payment of the same (without surrender thereof except in the case of a mutilated or defaced Security), if the applicant for
such payment shall furnish to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or taking,
the applicant shall also furnish to the Issuer and the Trustee and any agent of the Issuer or the Trustee evidence to their satisfaction
of the destruction, loss or wrongful taking of such Security and of the ownership thereof.

 

Every substitute Security
of any series issued pursuant to the provisions of this section by virtue of the fact that any such Security is destroyed, lost
or stolen shall constitute an additional contractual obligation of the Issuer, whether or not the destroyed, lost or wrongfully
taken Security shall be at any time enforceable by anyone and shall be entitled to all the benefits of (but shall be subject to
all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of such
series duly authenticated and delivered hereunder. All Securities shall be held and owned upon the express condition that, to the
extent permitted by law, the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, defaced
or destroyed, lost or wrongfully taken Securities and shall preclude any and all other rights or remedies.

 

Section 2.10 Cancellation
of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, repurchase, conversion, registration
of transfer or exchange, if surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be delivered to the Trustee
for cancellation or, if surrendered to the Trustee, shall be canceled by it; and no Securities shall be issued in lieu thereof
except as expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of canceled Securities held
by it in accordance with the record retention policies of the Trustee in effect from time to time and, if such canceled certificates
are destroyed, shall deliver a certificate of destruction to the Issuer. If the Issuer shall acquire any of the Securities, such
acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until
the same are delivered to the Trustee for cancellation.

 

Section 2.11 Temporary
Securities. Pending the preparation of definitive Securities for any series, the Issuer may execute and the Trustee shall authenticate
and deliver temporary Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form
satisfactory to the Trustee). Temporary Securities of any series shall be issuable as registered Securities without coupons, of
any authorized denomination, and substantially in the form of the definitive Securities of such series but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Issuer with the concurrence
of the Trustee. Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every
temporary Security shall be executed by the Issuer and be authenticated by the Trustee upon the same conditions and in substantially
the same manner, and with like effect, as the definitive Securities. Without unreasonable delay the Issuer shall execute and shall
furnish definitive Securities of such series and thereupon temporary Securities of such series may be surrendered in exchange therefor
without charge at each office or agency to be maintained by the Issuer for that purpose pursuant to Section 3.02, and the Trustee
shall authenticate and deliver in exchange for such temporary Securities of such series a like aggregate Principal amount of definitive
Securities of the same series of authorized denominations. Until so exchanged, the temporary Securities of any series shall be
entitled to the same benefits under this Indenture as definitive Securities of such series.

 

    	-16-

     

    

 

Section 2.12 Computation
of Interest. Except as otherwise specified in the Securities of a series, interest shall be computed on the basis of a 360-day
year of twelve 30-day months.

 

Section 2.13 CUSIP Numbers.
The Issuer in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall
use “CUSIP” 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 Securities or as contained in any notice
of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers. The Issuer will notify the Trustee of any change
in the “CUSIP” numbers.

 

ARTICLE 3

COVENANTS OF THE ISSUER AND THE TRUSTEE

 

Section 3.01 Payment
of Principal and Interest. The Issuer covenants and agrees for the benefit of each series of Securities that it will duly and
punctually pay or cause to be paid the Principal of, and interest on, each of the Securities of such series at the place or places,
at the respective times and in the manner provided in such Securities. Each installment of interest on the Securities of any series
may be paid by mailing checks for such interest payable to or upon the written order of the Holders of Securities entitled thereto
as they shall appear on the registry books of the Issuer.

 

Notwithstanding any provisions
of this Indenture and the Securities of any series to the contrary, if the Issuer and a Holder of any Registered Security so agree
or if expressly provided pursuant to Section 2.03, payments of interest on, and any portion of the Principal of, such Holder’s
Registered Security shall be made by the paying agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m.,
New York City time (or such other time as may be agreed to between the Issuer and the paying agent) or the Issuer, directly to
the Holder of such Security (by wire transfer of Federal funds or immediately available funds or otherwise) if the Holder has delivered
written instructions to the Trustee 15 days prior to such payment date requesting that such payment will be so made and designating
the bank account to which such payments shall be so made and, in the case of payments of Principal, surrenders the same to the
Trustee. The Trustee shall be entitled to rely on the last instruction delivered by the Holder pursuant to this Section 3.01 unless
a new instruction is delivered 15 days prior to a payment date. The Issuer will indemnify and hold each of the Trustee and any
paying agent harmless against any loss, liability or expense (including attorneys’ fees and expenses) resulting from any
act or omission to act on the part of the Issuer or any such Holder in connection with any such agreement or from making any payment
in accordance with any such agreement.

 

    	-17-

     

    

 

Section 3.02 Offices
for Payments, etc. So long as any of the Securities remain outstanding, the Issuer will maintain in the Borough of Manhattan,
The City of New York an office or agency (o) where the Securities may be presented for payment, (p) where the Securities may be
presented for registration of transfer and for exchange as in this Indenture provided, (q) where notices and demands to or upon
the Issuer in respect of the Securities or of this Indenture may be served and (r) for Securities of each series that is convertible,
where such Securities may be presented for conversion. The Issuer will give to the Trustee written notice of the location of any
such office or agency and of any change of location thereof. Unless otherwise specified in accordance with Section 2.03, the Issuer
hereby initially designates the Corporate Trust Office of Trustee as the office to be maintained by it for each such purpose. In
case the Issuer shall fail to so designate or maintain any such office or agency or shall fail to give such notice of the location
or of any change in the location thereof, presentations and demands may be made and notices may be served at the Corporate Trust
Office.

 

Section 3.03 Paying
Agents. Whenever the Issuer shall appoint a paying agent other than the Trustee with respect to the Securities of any series,
it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee,
subject to the provisions of this Section:

 

(a) that it will hold all
sums received by it as such agent for the payment of the Principal of or interest on the Securities of such series (whether such
sums have been paid to it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of the
Holders of the Securities of such series or of the Trustee;

 

(b) that it will give the
Trustee notice of any failure by the Issuer (or by any other obligor on the Securities of such series) to make any payment of the
Principal of or interest on the Securities of such series when the same shall be due and payable; and during the continuance of
the failure referred to in clause Section 3.03(b) above.

 

The Issuer will, on or
prior to each due date of the Principal of or interest on the Securities of such series, deposit with the paying agent a sum sufficient
to pay such Principal or interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly notify
the Trustee of any failure to take such action.

 

If the Issuer shall act
as its own paying agent with respect to the Securities of any Series, it will, on or before each due date of the Principal of or
interest on the Securities of such series, set aside, segregate and hold in trust for the benefit of the Holders of the Securities
of such series a sum sufficient to pay such Principal or interest so becoming due. The Issuer will promptly notify the Trustee
of any failure to take such action.

 

    	-18-

     

    

 

Whenever the Issuer shall
have one or more paying agents for any series of Securities, it will, on or before each due date of the Principal of or interest
on any Securities of such series, deposit with the paying agent or agents for the Securities of such series a sum, by 11:00 a.m.
New York City time in immediately available funds on the payment date, sufficient to pay the Principal or interest so becoming
due with respect to the Securities of such series, and (unless such paying agent is the Trustee) the Issuer will promptly notify
the Trustee in writing of any failure so to act.

 

Anything in this section
to the contrary notwithstanding, the Issuer may at any time, for the purpose of obtaining a satisfaction and discharge with respect
to one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums
held in trust for any such series by the Issuer or any paying agent hereunder, as required by this Section, such sums to be held
by the Trustee upon the trusts herein contained.

 

Anything in this Section
3.03 to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section 3.03 is subject to the provisions
of Section 9.05.

 

Section 3.04 Certificate
of the Issuer. Within 120 days after the close of the fiscal year ended ●, and within 120 days after the close of each
fiscal year thereafter, the Issuer will furnish to the Trustee a brief certificate (which need not comply with Section 10.05) from
the principal executive, financial or accounting officer of the Issuer as to his or her knowledge of the Issuer’s compliance
with all conditions and covenants under the Indenture (such compliance to be determined without regard to any period of grace or
requirement of notice provided under the Indenture).

 

At the time such certificate
is filed, the Issuer will also file with the Trustee a letter or statement of the independent accountants who shall have certified
the financial statements of the Issuer for its preceding fiscal year to the effect that, in making the examination necessary for
certification of such financial statements, they have obtained no knowledge of any default by the Issuer in the performance or
fulfillment of any covenant, agreement or condition contained in this Indenture, which default remains uncured at the date of such
letter or statement, or, if they shall have obtained knowledge of any such uncured default, specifying in such letter or statement
such default or defaults and the nature and status thereof, it being understood that such accountants shall not be liable directly
or indirectly for failure to obtain knowledge of any such default or defaults, and that nothing contained in this Section 3.04
shall be construed to require such accountants to make any investigation beyond the scope required in connection with such examination.

 

Section 3.05 List of
Securityholders. If and so long as the Trustee shall not be the Security registrar for the Securities of any series, the Issuer
will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the names and
addresses of the Holders of the Securities of such series pursuant to Section 312 of the Trust Indenture Act of 1939 (a) semi-annually
not more than 10 days after each record date for the payment of interest on such Securities, as hereinabove specified, as of such
record date and on dates to be determined pursuant to Section 2.03 for non-interest bearing Securities in each year and (b) at
such other times as the Trustee may request in writing, within 30 days after receipt by the Issuer of any such request as of a
date not more than 10 days prior to the time such information is furnished.

 

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Section 3.06 Reports
by the Issuer. The Issuer covenants to:

 

(a) file, whether or not
required to do so under applicable law, with the Trustee, within 15 days after the Issuer files the same with the Commission:

 

(i) copies of
the annual reports and of the information, documents, and other reports which the Issuer files with the Commission pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934; and

 

(ii) such additional
information, documents and reports with respect to compliance by the Issuer with the conditions and covenants provided for in this
Indenture as the Issuer may from time to time file with the Commission; and

 

(b) transmit to the Securityholders,
in the manner and to the extent provided in Section 10.04, such summaries of any information, documents and reports required to
be filed with the Trustee pursuant to the provisions of subdivision (a) of this Section 3.06 as may be required by the rules and
regulations of the Commission.

 

Delivery of such reports,
information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

 

Section 3.07 Corporate
Existence. So long as any of the Securities remain unpaid, the Issuer will at all times (except as otherwise provided or permitted
elsewhere in this Indenture) do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence.

 

Section 3.08 Restrictions
on Mergers, Sales and Consolidations. So long as any of the Securities remain unpaid, the Issuer will not consolidate or merge
with or sell, convey or lease all or substantially all of its property to any other corporation except as permitted in Article
8 hereof.

 

Section 3.09 Further
Assurances. From time to time whenever requested by the Trustee, the Issuer will execute and deliver such further instruments
and assurances and do such further acts as may be reasonably necessary or proper to carry out more effectually the purposes of
this Indenture or to secure the rights and remedies hereunder of the Holders of the Securities of any series.

 

    	-20-

     

    

 

ARTICLE 4

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS

ON EVENT OF DEFAULT

 

Section 4.01 Event of
Default Defined; Acceleration of Maturity; Waiver of Default. “Event of Default” with respect to Securities
of any series wherever used herein, means any one of the following events which shall have occurred and be continuing (whatever
the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

 

(a) default by the Issuer
in the payment of any installment of interest upon any of the Securities of such series as and when the same shall become due and
payable, and continuance of such default for a period of 30 days;

 

(b) default by the Issuer
in the payment of all or any part of the Principal on any of the Securities of such series as and when the same shall become due
and payable either at maturity, upon redemption, by declaration or otherwise, and continuance of such default for a period of five
days;

 

(c) default by the Issuer
in the performance, or breach by the Issuer, of any of its covenants or agreements in respect of the Securities of such series
(other than a covenant or agreement in respect of the Securities of such series a default in whose performance or whose breach
is elsewhere in this section specifically dealt with), and continuance of such default or breach for a period of 30 consecutive
days after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee
by the Holders of at least 25% in Principal amount of the Outstanding Securities of all series affected thereby, a written notice
specifying such default or breach and requiring it to be remedied and stating that such notice is a notice of default hereunder;

 

(d) the entry by a court
having jurisdiction in the premises of a decree or order for relief in respect of the Issuer in an involuntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, or the appointment of a receiver, liquidator, assignee,
custodian, trustee or sequestrator (or similar official) of the Issuer or for any substantial part of the Issuer’s property
and assets or the ordering of the winding up or liquidation of the Issuer’s affairs, and the continuance of any such decree
or order unstayed and in effect for a period of 90 consecutive days;

 

(e) the commencement by
the Issuer of a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or
the consent by the Issuer to the entry of an order for relief in an involuntary case under any such law, or the consent by the
Issuer to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar
official) of the Issuer or for any substantial part of the Issuer’s property, or the making of any general assignment by
the Issuer for the benefit of creditors; or

 

    	-21-

     

    

 

(f) any other Event of
Default provided in the supplemental indenture or resolution of the Board of Directors under which such series of Securities is
issued or in the form of Security for such series.

 

If an Event of Default
described in clauses 4.01(a), 4.01(b), 4.01(c) or 4.01(f) occurs and is continuing, then, and in each and every such case, unless
the Principal of all of the Securities of such series shall have already become due and payable, either the Trustee or the Holders
of not less than 25% in aggregate Principal amount of the Securities of any affected series then Outstanding hereunder (each such
series voting as a separate class) by notice in writing to the Issuer (and to the Trustee if given by Securityholders), may declare
the entire Principal (or, if the Securities of such series are Original Issue Discount Securities, such portion of the Principal
amount as may be specified in the terms of such series) of all Securities of such series and the interest accrued thereon, if any,
to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable. If an Event
of Default described in clauses Section 4.01(d) or Section 4.01(e) occurs and is continuing, then the Principal amount of all the
Securities then Outstanding and interest accrued thereon, if any, shall be and become immediately due and payable, without any
notice or other action by any Holder or the Trustee, to the full extent permitted by applicable law.

 

The foregoing provisions,
however, are subject to the condition that if, at any time after the Principal (or, if the Securities are Original Issue Discount
Securities, such portion of the Principal as may be specified in the terms thereof) of the Securities of any series (or of all
the Securities, as the case may be) shall have been so declared due and payable, and before any judgment or decree for the payment
of the monies due shall have been obtained or entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee
a sum sufficient to pay all matured installments of interest upon all the Securities of such series (or of all the Securities,
as the case may be) and the Principal of any and all Securities of such series (or of all the Securities, as the case may be) which
shall have become due otherwise than by acceleration (with interest upon such Principal and, to the extent that payment of such
interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest or
Yield to Maturity (in the case of Original Issue Discount Securities) specified in the Securities of such series (or at the respective
rates of interest or Yields to Maturity of all the Securities, as the case may be) to the date of such payment or deposit) and
such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all
other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of negligence or bad faith, and
if any and all Events of Default under the Indenture, other than the non-payment of the Principal of Securities which shall have
become due by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then and in every such case
the Holders of a majority in aggregate Principal amount of all the then Outstanding Securities of all such series that have been
accelerated, each such series voting as a separate class, by written notice to the Issuer and to the Trustee, may waive all defaults
with respect to such series (or with respect to all the Securities, as the case may be) and rescind and annul such declaration
and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or
shall impair any right consequent thereon.

 

For all purposes under
this Indenture, if a portion of the Principal of any Original Issue Discount Securities shall have been accelerated and declared
due and payable pursuant to the provisions hereof, then, from and after such declaration, unless such declaration has been rescinded
and annulled, the Principal amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be
such Portion of the Principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion
of the Principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any, thereon
and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities.

 

    	-22-

     

    

 

Section 4.02 Collection
of Indebtedness by Trustee; Trustee May Prove Debt. The Issuer covenants that (h) in case default shall be made in the payment
of any installment of interest on any of the Securities of any series when such interest shall have become due and payable, and
such default shall have continued for a period of 30 days or (i) in case default shall be made in the payment of all or any part
of the Principal of any of the Securities of any series when the same shall have become due and payable, whether upon maturity
of the Securities of such series or upon any redemption or by declaration or otherwise, then in each case upon demand of the Trustee,
the Issuer will pay to the Trustee for the benefit of the Holders of the Securities of such series (x) the whole amount that then
shall have become due and payable on all Securities of such series for Principal or interest, as the case may be (with interest
to the date of such payment upon the overdue Principal and, to the extent that payment of such interest is enforceable under applicable
law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original
Issue Discount Securities) specified in the Securities of such series) and (y) in addition thereto, such further amount as shall
be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each predecessor
Trustee, their respective agents and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee
and each predecessor Trustee except as a result of its negligence or bad faith.

 

Until such demand is made
by the Trustee, the Issuer may pay the Principal of and interest on the Securities of any series to the registered Holders, whether
or not the Principal of and interest on the Securities of such series be overdue.

 

In case the Issuer shall
fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be
entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid,
and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree
against the Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Issuer
or other obligor upon such Securities, wherever situated, the monies adjudged or decreed to be payable.

 

In case there shall be
pending proceedings relative to the Issuer or any other obligor upon the Securities under Title 11 of the United States Code or
any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in
bankruptcy or reorganization, liquidator, sequestrator or similar official shall have been appointed for or taken possession of
the Issuer or its property or such other obligor, or in case of any other comparable judicial proceedings relative to the Issuer
or other obligor upon the Securities of any series, or to the creditors or property of the Issuer or such other obligor, the Trustee,
irrespective of whether the Principal of any Securities shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall
be entitled and empowered, by intervention in such proceedings or otherwise:

 

    	-23-

     

    

 

(a) to file and prove a
claim or claims for the whole amount of Principal and interest (or, if the Securities of any series are Original Issue Discount
Securities, such portion of the Principal amount as may be specified in the terms of such series) owing and unpaid in respect of
the Securities of any series, and to file such other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective
agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee
and each predecessor Trustee, except as a result of negligence or bad faith) and of the Securityholders allowed in any judicial
proceedings relative to the Issuer or other obligor upon the Securities of any series, or to the creditors or property of the Issuer
or such other obligor;

 

(b) unless prohibited by
applicable law and regulations, to vote on behalf of the Holders of the Securities of any series in any election of a trustee or
a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing
similar functions in comparable proceedings; and

 

(c) to collect and receive
any monies or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to
the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver, or liquidator, custodian or other
similar official is hereby authorized by each of the Securityholders to make payments to the Trustee, and, in the event that the
Trustee shall consent to the making of payments directly to the Securityholders, to pay to the Trustee such amounts as shall be
sufficient to cover reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and
counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except
as a result of negligence or bad faith and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section
5.06.

 

Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder
any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any series or the rights of any
Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding except,
as aforesaid, to vote for the election of a trustee in bankruptcy or similar person.

 

All rights of action and
of asserting claims under this Indenture, or under any of the Securities, may be enforced by the Trustee without the possession
of any of the Securities or the production thereof on any trial or other proceedings relative thereto, and any such action or proceedings
instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject
to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents
and attorneys, shall be for the ratable benefit of the Holders of the Securities in respect of which such action was taken.

 

    	-24-

     

    

 

In any proceedings brought
by the Trustee (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall
be a party) the Trustee shall be held to represent all the Holders of the Securities in respect to which such action was taken,
and it shall not be necessary to make any Holders of such Securities parties to any such proceedings.

 

Section 4.03 Application
of Proceeds. Any monies collected by the Trustee pursuant to this Article in respect of any series shall be applied in the
following order at the date or dates fixed by the Trustee and, in case of the distribution of such monies on account of Principal
or interest, upon presentation of the several Securities in respect of which monies have been collected and stamping (or otherwise
noting) thereon the payment, or issuing Securities of such series in reduced Principal amounts in exchange for the presented Securities
of like series if only partially paid, or upon surrender thereof if fully paid:

 

FIRST: To the payment of costs and expenses
applicable to such series in respect of which monies have been collected, including reasonable compensation to the Trustee and
each predecessor Trustee and their respective agents and attorneys and of all expenses and liabilities incurred, and all advances
made, by the Trustee and each predecessor Trustee except as a result of negligence or bad faith, and all other amounts due to the
Trustee or any predecessor Trustee pursuant to Section 5.06;

 

SECOND: In case the Principal of the Securities
of such series in respect of which monies have been collected shall not have become and be then due and payable, to the payment
of interest on the Securities of such series in default in the order of the maturity of the installments of such interest, with
interest (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest at the
same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in such Securities,
such payments to be made ratably to the persons entitled thereto, without discrimination or preference;

 

THIRD: In case the Principal of the Securities
of such series in respect of which monies have been collected shall have become and shall be then due and payable, to the payment
of the whole amount then owing and unpaid upon all the Securities of such series for Principal and interest, with interest upon
the overdue Principal, and (to the extent that such interest has been collected by the Trustee) upon overdue installments of interest
at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in
the Securities of such series; and in case such monies shall be insufficient to pay in full the whole amount so due and unpaid
upon the Securities of such series, then to the payment of such Principal and interest or yield to maturity, without preference
or priority of Principal over interest or yield to maturity, or of interest or yield to maturity over Principal, or of any installment
of interest over any other installment of interest, or of any Security of such series over any other Security of such series, ratably
to the aggregate of such Principal and accrued and unpaid interest or yield to maturity; and

 

FOURTH: To the payment of the remainder,
if any, to the Issuer or any other person lawfully entitled thereto.

 

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Section 4.04 Suits for
Enforcement. In case an Event of Default has occurred, has not been waived and is continuing, the Trustee may proceed to protect
and enforce the rights vested in it by this Indenture, either at law or in equity or in bankruptcy or otherwise, whether for the
specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in
this Indenture or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law.

 

Section 4.05 Restoration
of Rights on Abandonment of Proceedings. In case the Trustee shall have proceeded to enforce any right under this Indenture
and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee,
then and in every such case the Issuer and the Trustee shall be restored respectively to their former positions and rights hereunder,
and all rights, remedies and powers of the Issuer, the Trustee and the Securityholders shall continue as though no such proceedings
had been taken.

 

Section 4.06 Limitations
on Suits by Securityholder. No Holder of any Security of any series shall have any right by virtue or by availing of any provision
of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with
respect to this Indenture, or for the appointment of a trustee, receiver, liquidator, custodian or other similar official or for
any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event of Default
and of the continuance thereof, as hereinbefore provided, and unless also the Holders of not less than 25% in aggregate Principal
amount of the Securities of such series then outstanding shall have made written request upon the Trustee to institute such action
or proceedings in respect of such Event of Default in its own name as trustee hereunder and shall have offered to the Trustee indemnity
satisfactory to the Trustee against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60
days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceeding
and no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 4.09; it being
understood and intended, and being expressly covenanted by the Holder of every Security with every other Holder and the Trustee,
that no one or more Holders of Securities of any series shall have any right in any manner whatever by virtue or by availing of
any provision of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities, or to obtain
or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Indenture, except in
the manner herein provided and for the equal, ratable and common benefit of all Holders of Securities of the applicable series.
For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity.

 

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Section 4.07 Unconditional
Right of Securityholders to Institute Certain Suits. Notwithstanding any other provision in this Indenture and any provision
of any Security, the right of any Holder of any Security to receive payment of the Principal of or interest on such Security on
or after the respective due dates expressed in such Security, or to institute 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.

 

Section 4.08 Powers
and Remedies Cumulative; Delay or Omission Not Waiver of Default. Except as provided in Section 4.06, no right or remedy herein
conferred upon or reserved to the Trustee or to the Securityholders is intended to be exclusive of any other right or remedy, and
every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder,
or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

No delay or omission of
the Trustee or of any Securityholder to exercise any right or power accruing upon any Event of Default occurring and continuing
as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence
therein; and, subject to Section 4.06, every power and remedy given by this Indenture or by law to the Trustee or to the Securityholders
may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.

 

Section 4.09 Control
by Securityholders. The Holders of a majority in aggregate Principal amount of the Securities of each series affected (with
each series voting as a separate class) at the time outstanding shall have the right to direct the time, method, and place of conducting
any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect
to the Securities of such series by this Indenture; provided that such direction shall not be otherwise than in accordance with
law and the provisions of this Indenture and provided further that (subject to the provisions of Section 5.01) the Trustee shall
have the right to decline to follow any such direction if the Trustee, being advised by counsel, shall determine that the action
or proceeding so directed may not lawfully be taken or if the Trustee in good faith by its board of directors, the executive committee,
or a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed
would subject the Trustee to personal liability or if the Trustee in good faith shall so determine that the actions or forbearances
specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities of all series
so affected not joining in the giving of said direction.

 

Nothing in this Indenture
shall impair the right of the Trustee to take any action which is not inconsistent with such direction or directions by Securityholders.

 

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Section 4.10 Waiver
of Past Defaults. Prior to a declaration of the acceleration of the maturity of the Securities of any series as provided in
Section 4.01, the Holders of a majority in aggregate Principal amount of the Securities of such series at the time Outstanding
(each such series voting as a separate class) may on behalf of the Holders of all the Securities of such series waive an existing
default or Event of Default, except a default in the payment of Principal of or interest on any Security as specified in clauses
(a) or (b) of Section 4.01 or in respect of a covenant or provision hereof which cannot be modified or amended without the consent
of each Holder affected as provided in Section 7.02. In the case of any such waiver, the Issuer, the Trustee and the Holders of
the Securities of each series affected shall be restored to their former positions and rights hereunder, respectively.

 

Upon any such waiver, such
default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom
shall be deemed to have been cured, and not to have occurred for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other default or Event of Default or impair any right consequent thereon.

 

Section 4.11 Trustee
to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall give to the Securityholders of any
series, as the names and addresses of such Holders appear on the registry books, notice by mail of all defaults known to Responsible
Officers of the Trustee which have occurred with respect to such series, such notice to be transmitted within 90 days after the
occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default”
or “defaults” for the purposes of this section being hereby defined to mean any event or condition which is, or with
notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment
of the Principal of or interest on any of the Securities of such series, the Trustee shall be protected in withholding such notice
if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible
Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders
of such series.

 

Section 4.12 Right of
Court to Require Filing of Undertaking to Pay Costs. All parties to this Indenture agree, and each Holder of any Security by
his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement
of any right or remedy under this Indenture or in any suit against the Trustee for any action taken, suffered or omitted by it
as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court
may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant
in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided
that the provisions of this Section 4.12 shall not apply to (i) any suit instituted by the Trustee, (ii) any suit instituted by
any Securityholder or group of Securityholders of any series holding in the aggregate more than 10% in aggregate Principal amount
of the Securities of such series or (iii) any suit instituted by a Holder pursuant to Section 4.07.

 

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ARTICLE 5

CONCERNING THE TRUSTEE

 

Section 5.01 Duties
and Responsibilities of the Trustee. With respect to the Holders of any series of Securities issued hereunder, the Trustee,
prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the curing or waiving
of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties
as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred
(which has not been cured or waived) the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and
use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of such person’s own affairs.

 

(a) Prior to the occurrence
of an Event of Default with respect to the Securities of any series and after the curing or waiving of all such Events of Default
with respect to such series which may have occurred:

 

(i) the duties
and obligations of the Trustee with respect to the Securities of any Series shall be determined solely by the express provisions
of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically
set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(ii) in the absence
of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such statements, certificates or opinions which by any provision hereof
are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether
or not they conform to the requirements of this Indenture.

 

(b) No provision of this
Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act
or its own willful misconduct, except that:

 

(i) this subsection
(b) shall not be construed to limit the effect of subsection (a) of this Section 5.01;

 

(ii) the Trustee
shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee,
unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and

 

(iii) the Trustee
shall not be liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the
direction of the Holders relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee,
or exercising any trust or power conferred upon the Trustee, under this Indenture.

 

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None of the provisions
contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability
in the performance of any of its duties or in the exercise of any of its rights or powers, if there shall be reasonable ground
for believing that the repayment of such funds or adequate indemnity against such liability is not reasonably assured to it.

 

The provisions of this
Section 5.01 are in furtherance of and subject to Sections 315 and 316 of the Trust Indenture Act of 1939.

 

Whether or not therein
expressly provided, every provision of this Indenture relating to the conduct of, affecting the liability of or affording protection
to the Trustee shall be subject to the provisions of this Section 5.01.

 

Section 5.02 Certain
Rights of the Trustee. In furtherance of and subject to the Trust Indenture Act of 1939, and subject to Section 5.01:

 

(a) In the absence of bad
faith on its part, the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution,
Officers’ Certificate or any other certificate, statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture, note, coupon, security or other paper or document believed by it to be genuine and to have been signed
or presented by the proper party or parties;

 

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

 

(c) the Trustee may consult
with counsel of its selection and any advice or Opinion of Counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or Opinion
of Counsel;

 

(d) the Trustee shall be
under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the request, order or direction of
any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the
Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in connection
with such request, order or direction;

 

(e) the Trustee shall not
be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within the discretion, rights
or powers conferred upon it by this Indenture;

 

(f) prior to the occurrence
of an Event of Default hereunder and after the curing or waiving of all Events of Default, the Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or other paper or document unless requested
in writing so to do by the Holders of not less than a majority in aggregate Principal amount of the Securities of all series affected
then outstanding; provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely
to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee
by the security afforded to it by the terms of this Indenture, the Trustee may require indemnity satisfactory to it against such
expenses or liabilities as a condition to proceeding, and the reasonable expenses of every such investigation shall be paid by
the Issuer or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Issuer upon demand;

 

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(g) the Trustee may execute
any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys not
regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent
or attorney appointed with due care by it hereunder;

 

(h) the Trustee shall not
be liable for any action taken, suffered or omitted in good faith and believed by it to be authorized or within the discretion,
rights or powers conferred upon it by this Indenture;

 

(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 Securities 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 in each of its capacities hereunder, and each agent, custodian and other Person employed
to act hereunder; and

 

(k) the Trustee may request
that the Issuer deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously
delivered and not superseded.

 

Section 5.03 Trustee
Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof. The recitals contained herein and
in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and
the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or
sufficiency of this Indenture or the Securities. The Trustee shall not be accountable for the use or application by the Issuer
of any of the Securities or of the proceeds thereof.

 

Section 5.04 Trustee
and Agents May Hold Securities; Collections, etc. The Trustee or any agent of the Issuer or the Trustee, in its individual
or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee
or such agent and may otherwise deal with the Issuer and receive, collect, hold and retain collections from the Issuer with the
same rights it would have if it were not the Trustee or such agent.

 

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Section 5.05 Monies
Held by Trustee. All monies received by the Trustee in trust hereunder need not be segregated from other funds except to the
extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any
liability for interest on any monies received by it hereunder.

 

Section 5.06 Compensation
and Indemnification of Trustee and Its Prior Claim. The Issuer covenants and agrees to pay to the Trustee from time to time,
and the Trustee shall be entitled to, such compensation as shall be agreed in writing from time to time by the Issuer and the Trustee
(which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) and the Issuer
covenants and agrees to pay or reimburse the Trustee and each predecessor Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including
the reasonable compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly
in its employ) except to the extent any such expense, disbursement or advance may arise from its negligence or bad faith. The Issuer
also covenants and agrees to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any loss,
liability or expense arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder
and the performance of its duties hereunder, including the costs and expenses of defending itself against or investigating any
claim of liability (whether asserted by the Issuer, a Holder or any other Person) in the premises, except to the extent such loss,
liability or expense is due to the negligence or bad faith of the Trustee or such predecessor Trustee. The obligations of the Issuer
under this section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and
each predecessor Trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall
survive the satisfaction and discharge of this Indenture or the resignation or removal of the Trustee. Such additional indebtedness
shall be a senior claim and lien to that of the Securities upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the benefit of the Holders of particular Securities, and the Securities are hereby subordinated
to such senior claim. The parties agree that if the Trustee renders services following an Event of Default under Section 4.01(d)
or (e), compensation for such services is intended to constitute administrative expense under any bankruptcy law.

 

Section 5.07 Right of
Trustee to Rely on Officers’ Certificate, etc. Subject to Section 5.01 and Section 5.02, whenever in the administration
of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to
taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically
prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and
established by an Officers’ Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad
faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the
provisions of this Indenture upon the faith thereof.

 

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Section 5.08 Persons
Eligible for Appointment as Trustee. The Trustee for each series of Securities hereunder shall at all times be a corporation
which is eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and which has (or which
is a Wholly-Owned Subsidiary, directly or indirectly, of a bank holding company which has) a combined capital and surplus of $50,000,000.
If such corporation or holding company publishes reports of condition at least annually, pursuant to law or to the requirements
of a Federal, State or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined
capital and surplus of such corporation or holding company shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published.

 

Section 5.09 Resignation
and Removal; Appointment of Successor Trustee. (a) The Trustee, or any trustee or trustees hereafter appointed, may at any
time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer. Upon
receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with respect to the applicable
series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall
be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor Trustee shall have been
so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation,
the resigning Trustee may petition, at the expense of the Issuer, any court of competent jurisdiction for the appointment of a
successor Trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for
at least six months may, subject to the provisions of Section 4.12, on behalf of himself and all others similarly situated, petition
any such court for the appointment of a successor Trustee. Such court may thereupon, after such notice, if any, as it may deem
proper and prescribe, appoint a successor Trustee.

 

(b) In case at any time
any of the following shall occur:

 

(i) the Trustee
shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with respect to any series of Securities
after written request therefor by the Issuer or by any Securityholder who has been a bona fide Holder of a Security or Securities
of such series for at least six months;

 

(ii) the Trustee
shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939 and shall fail
to resign after written request therefor by the Issuer or by any Securityholder; or

 

(iii) the Trustee
shall become incapable of acting with respect to any series of Securities, or shall be adjudged a bankrupt or insolvent, or a receiver
or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee
or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; then, in any such case, the Issuer
may remove the Trustee with respect to the applicable series of Securities and appoint a successor trustee for such series by written
instrument, in duplicate, executed by order of the Board of Directors of the Issuer, one copy of which instrument shall be delivered
to the Trustee so removed and one copy to the successor Trustee, or, subject to Section 315(e) of the Trust Indenture Act of 1939,
any Securityholder who has been a bona fide Holder of a Security or Securities of

 

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such series for at least six months may on
behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor trustee with respect to such series. Such court may thereupon, after such notice, if any, as
it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

 

(c) The Holders of a majority
in aggregate Principal amount of the Securities of each series at the time outstanding may at any time remove the Trustee with
respect to Securities of such series and appoint a successor Trustee with respect to the Securities of such series by delivering
to the Trustee so removed, to the successor Trustee so appointed and to the Issuer the evidence provided in Section 6.01 of the
action in that regard taken by the Securityholders.

 

(d) Any resignation or
removal of the Trustee with respect to any series and any appointment of a successor trustee with respect to such series pursuant
to any of the provisions of this Section 5.09 shall become effective upon acceptance of appointment by the successor trustee as
provided in Section 5.10.

 

Section 5.10 Acceptance
of Appointment by Successor. Any successor Trustee appointed as provided in Section 5.09 shall execute and deliver to the Issuer
and to its predecessor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of
the predecessor Trustee with respect to all or any applicable series shall become effective and such successor Trustee, without
any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations with respect to such series
of its predecessor hereunder, with like effect as if originally named as Trustee for such series hereunder. On the written request
of the Issuer or of the successor Trustee, upon payment of its charges then unpaid, the Trustee ceasing to act shall, subject to
Section 5.06, pay over to the successor Trustee all monies at the time held by it hereunder and shall execute and deliver an instrument
transferring to such successor Trustee all such rights, powers, duties and obligations. Upon request of any such successor Trustee,
the Issuer shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor
Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a prior claim upon all property or funds
held or collected by such Trustee to secure any amounts then due it pursuant to the provisions of Section 5.06.

 

If a successor Trustee
is appointed with respect to the Securities of one or more (but not all) series, the Issuer, the predecessor Trustee and each successor
Trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which
shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties
of the predecessor Trustee with respect to the Securities of any series as to which the predecessor Trustee is not retiring shall
continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood
that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each
such Trustee shall be Trustee of a trust or trusts under separate indentures.

 

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Upon acceptance of appointment
by any successor Trustee as provided in this Section 5.10, the Issuer shall mail notice thereof by first-class mail to the Holders
of Securities of any series for which such successor Trustee is acting as Trustee at their last addresses as they shall appear
in the Security register. If the acceptance of appointment is substantially contemporaneous with the resignation, then the notice
called for by the preceding sentence may be combined with the notice called for by Section 5.09. If the Issuer fails to mail such
notice within 10 days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to
be mailed at the expense of the Issuer.

 

Section 5.11 Merger,
Conversion, Consolidation or Succession to Business of Trustee. Any corporation into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall
be the successor of the Trustee hereunder, provided that such corporation shall be eligible under the provisions of Section 5.08,
without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding.

 

In case at the time such
successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities of any series shall have been
authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor
Trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities of any series shall not have
been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder
or in the name of the successor Trustee; and in all such cases such certificate shall have the full force which it is anywhere
in the Securities of such series or in this Indenture provided that the certificate of the Trustee shall have; provided, that the
right to adopt the certificate of authentication of any predecessor Trustee or to authenticate Securities of any series in the
name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation.

 

Section 5.12 Reports
to the Trustee. The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture
as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by
Section 313(a) of the Trust Indenture Act, the Trustee shall, within sixty days after each May 15 following the date of the initial
issuance of Securities under this Indenture deliver to Holders a brief report, dated as of such May 15, which complies with the
provisions of such Section 313(a).

 

A copy of each such report
shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which the Securities
are listed, with the Commission and with the Issuer. The Issuer will promptly notify the Trustee when the Securities are listed
on any stock exchange and of any delisting thereof.

 

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ARTICLE 6

CONCERNING THE SECURITYHOLDERS

 

Section 6.01 Evidence
of Action Taken by Securityholders. Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by a specified percentage in Principal amount of the Securityholders of any or
all series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such specified
percentage of Securityholders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are delivered to the Trustee. Proof of execution of any
instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section
5.01 and Section 5.02) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Article.

 

Section 6.02 Proof of
Execution of Instruments and of Holding of Securities; Record Date. Subject to Section 5.01 and Section 5.02, the execution
of any instrument by a Securityholder or his agent or proxy may be proved by the certificate of any notary public or other officer
authorized to take acknowledgment of deeds, that the Person executing such instrument acknowledged to such notary public or other
such officer the execution thereof, or by an affidavit of a witness to such execution sworn to before any such notary public or
other officer. Where such execution is by an officer of a corporation or association or a member of a partnership on behalf of
such corporation, association or partnership, as the case may be, or by any other Person acting in a representative capacity, such
certificate or affidavit shall also constitute sufficient proof of such Person’s authority. The holding of Securities shall
be proved by the Security register or by a certificate of the registrar thereof. The Issuer may set a record date for purposes
of determining the identity of Holders of Securities of any series entitled to vote or consent to any action referred to in Section
6.01, which record date may be set at any time or from time to time by notice to the Trustee, for any date or dates (in the case
of any adjournment or reconsideration) not more than 60 days nor less than five days prior to the proposed date of such vote or
consent, and thereafter, notwithstanding any other provisions hereof, only Holders of Securities of such series of record on such
record date shall be entitled to so vote or give such consent or revoke such vote or consent.

 

Section 6.03 Holders
to be Treated as Owners. Prior to due presentment of a Security for registration of transfer, the Issuer, the Trustee and any
agent of the Issuer or the Trustee may deem and treat the person in whose name any Security shall be registered upon the Security
register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding
any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the Principal of and,
subject to the provisions of this Indenture, interest on such Security and for all other purposes, and neither the Issuer nor the
Trustee nor any agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to
any such person, or upon his order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge
the liability for monies payable upon any such Security.

 

Section 6.04 Securities
Owned by Issuer Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate Principal amount of Outstanding
Securities of any or all series have concurred in any direction, consent or waiver under this Indenture, Securities which are owned
by the Issuer or any other obligor on the Securities with respect to which such determination is being made or by any person directly
or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any other obligor on the
Securities with respect to which such determination is being made shall be disregarded and deemed not to be Outstanding for the
purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in relying
on any such direction, consent or waiver only Securities as to which the Trustee has received written notice are so owned shall
be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes
to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is
not the Issuer or any other obligor upon the Securities or any person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Issuer or any other obligor on the Securities. In case of a dispute as to such right,
the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon
request of the Trustee, the Issuer shall furnish to the Trustee promptly an Officers’ Certificate listing and identifying
all Securities, if any, known by the Issuer to be owned or held by or for the account of any of the above-described persons; and,
subject to Section 5.01 and Section 5.02, the Trustee shall be entitled to accept such Officers’ Certificate as conclusive
evidence of the facts therein set forth and of the fact that all Securities not listed therein are Outstanding for the purpose
of any such determination.

 

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Section 6.05 Right of
Revocation of Action Taken. At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 6.01,
of the taking of any action by the Holders of the percentage in aggregate Principal amount of the Securities of any or all series,
as the case may be, specified in this Indenture in connection with such action, any Holder of a Security the serial number of which
is shown by the evidence to be included among the serial numbers of the Securities the Holders of which have consented to such
action may, by filing written notice at the Corporate Trust Office and upon proof of holding as provided in this Article, revoke
such action so far as concerns such Security. Except as aforesaid any such action taken by the Holder of any Security shall be
conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of any Securities issued in
exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon any such Security.
Any action taken by the Holders of the percentage in aggregate Principal amount of the Securities of any or all series, as the
case may be, specified in this Indenture in connection with such action shall be conclusively binding upon the Issuer, the Trustee
and the Holders of all the Securities affected by such action.

 

ARTICLE 7

SUPPLEMENTAL INDENTURES

 

Section 7.01 Supplemental
Indentures Without Consent of Securityholders. The Issuer, when authorized by a resolution of its Board of Directors certified
to the Trustee, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto
for one or more of the following purposes:

 

    	-37-

     

    

 

(a) to evidence the succession
of another corporation to the Issuer, or successive successions, and the assumption by the successor corporation of the covenants,
agreements and obligations of the Issuer pursuant to Article 8;

 

(b) (i) to cure any ambiguity
or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent
with any other provision contained herein or in any supplemental indenture, (ii) to conform the terms of Securities to the description
thereof in the prospectus and prospectus supplement (or similar offering document) offering such Securities or (iii) to make such
other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the Board
of Directors may deem necessary or desirable and which shall not adversely affect the interests of the Holders of the Securities
in any material respect;

 

(c) to establish the form
or terms of Securities of any series as permitted by Section 2.01 and Section 2.03;

 

(d) to evidence and provide
for the acceptance of appointment hereunder by a successor trustee with respect to the Securities of one or more series and to
add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one trustee, pursuant to the requirements of Section 5.10;

 

(e) to comply with any
requirements of the Commission in connection with the qualification of this Indenture under the Trust Indenture Act of 1939;

 

(f) to provide for uncertificated
or Unregistered Securities and to make all appropriate changes for such purpose;

 

(g) to make any change
that would not reasonably be expected to adversely affect the rights of any Holder in any material respect;

 

(h) to add to the covenants
of the Issuer such new covenants, restrictions, conditions or provisions as its Board of Directors shall consider to be for the
protection of the Holders of Securities, and with respect to which the Trustee has received an Opinion of Counsel to a similar
effect, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an Event of Default; provided, that in respect of any such additional covenant, restriction, condition
or provision such supplemental indenture may provide for a particular period of grace after default (which period may be shorter
or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such an Event of Default
or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority
in aggregate Principal amount of the Securities of such series to waive such an Event of Default; or

 

(i) to make any change
so long as no Securities are Outstanding.

 

The Trustee is hereby authorized
to join with the Issuer in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations
which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder,
but the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise.

 

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Any supplemental indenture
authorized by the provisions of this section may be executed without the consent of the Holders of any of the Securities at the
time outstanding, notwithstanding any of the provisions of Section 7.02.

 

Section 7.02 Supplemental
Indentures With Consent of Securityholders. With the consent (evidenced as provided in Article 6) of the Holders of not less
than a majority in aggregate Principal amount of the Securities at the time Outstanding of all series affected by such supplemental
indenture (voting as one class), the Issuer, when authorized by a resolution of its Board of Directors, and the Trustee may, from
time to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying
in any manner the rights of the Holders of the Securities of each such series; provided, that no such supplemental indenture shall
without the consent of each Holder affected thereby:

 

(i) change the stated maturity
of the Principal of, or the time of payment of any installment of interest on, such Holder’s Security;

 

(ii) reduce the Principal
thereof or the rate of interest thereon, or any premium payable with respect thereto;

 

(iii) change any place of
payment where, or the currency in which, any Security or any premium or the interest thereon is payable;

 

(iv) change the provisions
for calculating any redemption or repurchase price, including the definitions relating thereto;

 

(v) make any change to Section
4.07 or Section 4.10 (except to include other provisions subject to Section 4.10);

 

(vi) reduce the percentage
in Principal amount of outstanding Securities of the relevant series the consent of whose Holders is required for any such supplemental
indenture, for any waiver of compliance with any provisions of this Indenture or any defaults and their consequences provided for
in this Indenture;

 

(vii) alter or impair the
right to convert any Security at the rate and upon the terms provided in Article 12;

 

(viii) waive a default in
the payment of Principal of or interest on any Security of such Holder (except pursuant to a rescission of acceleration pursuant
to Section 4.01);

 

    	-39-

     

    

 

(ix) adversely affect the
rights of such Holder under any mandatory redemption or repurchase provision or any right of redemption or repurchase at the option
of such Holder;

 

(x) modify any of the provisions
of this Section 7.02, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot
be modified or waived without the consent of the Holder of each outstanding Security affected thereby;

 

(xi) modify Article 13 of
this Indenture or the definition of “Senior Indebtedness” in Article 1 hereof in a manner adverse to Holders of any
series of Securities; or

 

(xii) change or waive any
provision that, pursuant to a board resolution or indenture supplemental hereto establishing the terms of one or more series of
Securities, is prohibited to be so changed or waived.

 

Upon the written request
of the Issuer, accompanied by a copy of a resolution of the Board of Directors certified by the secretary or an assistant secretary
of the Issuer authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of
the consent of Securityholders as aforesaid and other documents, if any, required by Section 6.01, the Trustee shall join with
the Issuer in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated
to, enter into such supplemental indenture.

 

It shall not be necessary
for the consent of the Securityholders under this section to approve the particular form of any proposed supplemental indenture,
but it shall be sufficient if such consent shall approve the substance thereof.

 

Promptly after the execution
by the Issuer and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Issuer shall mail a
notice thereof by first class mail to the Holders of Securities of each series affected thereby at their addresses as they shall
appear on the registry books of the Issuer, setting forth in general terms the substance of such supplemental indenture. Any failure
of the Issuer to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture.

 

Section 7.03 Effect
of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions hereof, this Indenture
shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations,
duties and immunities under this Indenture of the Trustee, the Issuer and the Holders of Securities of each series affected thereby
shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments,
and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions
of this Indenture for any and all purposes.

 

Section 7.04 Documents
to Be Given to Trustee. The Trustee, subject to the provisions of Section 5.01 and Section 5.02, may receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant to this Article
7 complies with the applicable provisions of this Indenture.

 

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Section 7.05 Notation
on Securities in Respect of Supplemental Indentures. Securities of any series authenticated and delivered after the execution
of any supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for
such series as to any matter provided for by such supplemental indenture or as to any action taken at any such meeting. If the
Issuer or the Trustee shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee
and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared
by the Issuer, authenticated by the Trustee and delivered in exchange for the Securities of such series then outstanding.

 

ARTICLE 8

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

 

Section 8.01 Issuer
May Consolidate, etc., on Certain Terms. The Issuer covenants that it will not merge or consolidate with any other Person or
sell, convey, transfer, lease or otherwise dispose of all or substantially all of its property and assets to any Person (other
than a consolidation with or merger with or into or a sale, conveyance, transfer, lease or other disposition to a Wholly-Owned
Subsidiary with a positive net worth; provided that, in connection with any such merger of the Issuer with a Wholly-Owned
Subsidiary, no consideration (other than common stock) in the surviving person or the Issuer shall be issued or distributed to
the stockholders of the Issuer), unless (xv) either (x) the Issuer shall be the continuing corporation, or the successor corporation
or (y) the Person formed by such consolidation or into which the Issuer is merged or that acquires by sale or conveyance substantially
all the assets of the Issuer (if other than the Issuer) shall be a corporation or limited liability company organized and validly
existing under the laws of the United States of America or any jurisdiction thereof and shall expressly assume the due and punctual
payment of the Principal of and interest on all the Securities, according to their tenor, and the due and punctual performance
and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Issuer, by supplemental
indenture satisfactory to the Trustee, executed and delivered to the Trustee by such Person, (xvi) immediately after giving effect
to such transaction, no default or Event of Default shall have occurred and be continuing and (xvii) the Issuer delivers to the
Trustee an Officers’ Certificate and Opinion of Counsel, in each case stating that such consolidation, merger or transfer
and such supplemental indenture complies with this Section 8.01 and that all conditions precedent provided for herein relating
to such transaction have been complied with; provided, however, that the foregoing limitations shall not apply if, in the
good faith determination of the Board of Directors, whose determination shall be evidenced by a board resolution certified to the
Trustee, the principal purpose of such transaction is to change the state of incorporation of the Issuer; and provided further
that any such transaction shall not have as one of its purposes the evasion of the foregoing limitations.

 

Section 8.02 Successor
Corporation Substituted. In case of any such consolidation, merger, sale, conveyance, transfer, lease or other disposition,
and following such an assumption by the successor Person, such successor Person shall succeed to and be substituted for the Issuer,
with the same effect as if it had been named herein. Such successor Person may cause to be signed, and may issue either in its
own name or in the name of the Issuer prior to such succession any or all of the Securities issuable hereunder which theretofore
shall not have been signed by the Issuer and delivered to the Trustee; and, upon the order of such successor Person instead of
the Issuer and subject to all the terms, conditions and limitations in this Indenture prescribed, the Trustee, pursuant to the
terms hereof, shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the
officers of the Issuer to the Trustee for authentication, and any Securities which such successor Person thereafter shall cause
to be signed and delivered to the Trustee for that purpose. All of the Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the terms of
this Indenture as though all of such Securities had been issued at the date of the execution hereof.

 

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In case of any such consolidation,
merger, sale, conveyance, transfer, lease or other disposition, such changes in phraseology and form (but not in substance) may
be made in the Securities thereafter to be issued as may be appropriate.

 

Upon the assumption by
the successor Person in the manner described in this Article, the Issuer shall be discharged from all obligations and covenants
under this Indenture and the Securities.

 

ARTICLE 9

DISCHARGE OF INDENTURE

 

Section 9.01 Defeasance
Within One Year of Payment. Except as otherwise provided in this Section 9.01, the Issuer may terminate its obligations under
the Securities of any series and this Indenture with respect to Securities of such series if:

 

(i) all Securities of such
series previously authenticated and delivered (other than destroyed, lost or wrongfully taken Securities of such series that have
been replaced or Securities of such series for whose payment money or securities have theretofore been held in trust and thereafter
repaid to the Issuer, as provided in Section 9.05) have been delivered to the Trustee for cancellation and the Issuer has paid
all sums payable by it hereunder; or

 

(ii) (A) the Securities of
such series mature within one year or all of them are to be called for redemption within one year under arrangements satisfactory
to the Trustee for giving the notice of redemption, (B) the Issuer irrevocably deposits in trust with the Trustee, as trust funds
solely for the benefit of the Holders of such Securities for that purpose, money or U.S. Government Obligations or a combination
thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee), without consideration of any reinvestment and
after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee,
to pay Principal of and interest on the Securities of such series to maturity or redemption, as the case may be, and to pay all
other sums payable by it hereunder and (C) the Issuer delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, in each case stating that all conditions precedent provided for herein relating to the satisfaction and discharge of this
Indenture with respect to the Securities of such series have been complied with.

 

With respect to the foregoing
clause (i), only the Issuer’s obligations under Sections 5.06 and 9.05 in respect of the Securities of such series shall
survive. With respect to the foregoing clause (ii), only the Issuer’s obligations in Sections 2.03 through 2.11, 3.02, 5.06,
5.09 and 9.05 in respect of the Securities of such series shall survive until such Securities of such series are no longer outstanding.
Thereafter, only the Issuer’s obligations in Sections 5.06 and 9.05 in respect of the Securities of such series shall survive.
After any such irrevocable deposit, the Trustee shall acknowledge in writing the discharge of the Issuer’s obligations under
the Securities of such series and this Indenture with respect to the Securities of such series except for those surviving obligations
specified above.

 

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Section 9.02 Defeasance.
Except as provided below, the Issuer will be deemed to have paid and will be discharged from any and all obligations in respect
of the Securities of any series and the provisions of this Indenture will no longer be in effect with respect to the Securities
of such series (and the Trustee, at the expense of the Issuer, shall execute instruments in form and substance satisfactory to
the Issuer and the Trustee acknowledging the same) if the following conditions shall have been satisfied:

 

(i) the Issuer has irrevocably
deposited in trust with the Trustee as trust funds specifically pledged as security for, and dedicated solely to, Holders of the
Securities of such series, for payment of the Principal of and interest on the Securities of such series, money or U.S. Government
Obligations or a combination thereof sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized
firm of independent public accountants expressed in a written certification thereof delivered to the Trustee) without consideration
of any reinvestment and after payment of all federal, state and local taxes or other charges and assessments in respect thereof
payable by the Trustee, to pay and discharge the Principal of and accrued interest on the outstanding Securities of such series
to maturity or earlier redemption (irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be;

 

(ii) such deposit will not
result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument
to which the Issuer is a party or by which it is bound;

 

(iii) no default or Event
of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit;

 

(iv) the Issuer shall have
delivered to the Trustee (1) either (x) a ruling directed to the Trustee received from the Internal Revenue Service to the effect
that the Holders of the Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a
result of the Issuer’s exercise of its option under this Section 9.02 and will be subject to federal income tax on the same
amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred
or (y) an Opinion of Counsel to the same effect as the ruling described in clause (x) above and based upon a change in law and
(2) an Opinion of Counsel to the effect that the Holders of the Securities of such series have a valid security interest in the
trust funds subject to no prior liens under the UCC; and

 

(v) the Issuer has delivered
to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided
for herein relating to the defeasance contemplated by this Section 9.02 of the Securities of such series have been complied with.

 

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The Issuer’s obligations
in Sections 2.03 through 2.11, 3.02, 5.06, 5.09 and 9.05 with respect to the Securities of such series shall survive until such
Securities are no longer outstanding. Thereafter, only the Issuer’s obligations in Sections 5.06 and 9.05 shall survive.

 

Section 9.03 Covenant
Defeasance. The Issuer may omit to comply with any term, provision or condition set forth in Sections 3.04, 3.06 or 3.08 (or
any other specific covenant relating to the Securities of any series provided for in a Board Resolution or supplemental indenture
pursuant to Section 2.03 which may by its terms be defeased pursuant to this Section 9.03), and such omission shall be deemed not
to be an Event of Default under clause (c) of Section 4.01, with respect to the outstanding Securities of such series if:

 

(i) the Issuer has irrevocably
deposited in trust with the Trustee as trust funds solely for the benefit of the Holders of the Securities of such series, for
payment of the Principal of and interest, if any, on the Securities of such series, money or U.S. Government Obligations or a combination
thereof in an amount sufficient (unless such funds consist solely of money, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee) without consideration of any reinvestment
and after payment of all Federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee,
to pay and discharge the Principal of and interest on the outstanding Securities of such series to maturity or earlier redemption
(irrevocably provided for under arrangements satisfactory to the Trustee), as the case may be;

 

(ii) such deposit will not
result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument
to which the Issuer is a party or by which it is bound;

 

(iii) no default or Event
of Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit;

 

(iv) the Issuer has delivered
to the Trustee an Opinion of Counsel to the effect that (A) the Holders of the Securities of such series have a valid security
interest in the trust funds subject to no prior liens under the UCC and (B) such Holders will not recognize income, gain or loss
for Federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to federal income tax on
the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not
occurred; and

 

(v) the Issuer has delivered
to the Trustee an Officers’ Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided
for herein relating to the covenant defeasance contemplated by this Section 9.03 of the Securities of such series have been complied
with.

 

Section 9.04 Application
of Trust Money. Subject to Section 9.05, the Trustee or Paying Agent shall hold in trust money or U.S. Government Obligations
deposited with it pursuant to 9.01, 9.02, 9.03, as the case may be, in respect of the Securities of any series and shall apply
the deposited money and the proceeds from deposited U.S. Government Obligations in accordance with the Securities of such series
and this Indenture to the payment of Principal of and interest on the Securities of such series; provided that such money need
not be segregated from other funds except to the extent required by law. The Issuer shall pay and indemnify the Trustee against
any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to 9.01, 9.02, 9.03,
as the case may be, or the Principal and interest received in respect thereof, other than any such tax, fee or other charge that
by law is for the account of the Holders.

 

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Section 9.05 Repayment
to Issuer. Subject to Sections 5.06 and 9.01, the Trustee and the Paying Agent shall promptly pay to the Issuer upon request
set forth in an Officers’ Certificate any money held by them at any time and not required to make payments hereunder and
thereupon shall be relieved from all liability with respect to such money. Subject to applicable escheat or abandoned property
laws, the Trustee and the Paying Agent shall pay to the Issuer upon written request any money held by them and required to make
payments hereunder under this Indenture that remains unclaimed for two years; provided that the Trustee or such Paying Agent
before being required to make any payment shall cause to be published at the expense of the Issuer once in an Authorized Newspaper
or mail to each Holder entitled to such money at such Holder’s address (as set forth in the register) notice that such money
remains unclaimed and that after a date specified therein (which shall be at least 30 days from the date of such publication or
mailing) any unclaimed balance of such money then remaining will be repaid to the Issuer. After payment to the Issuer, Holders
entitled to such money must look to the Issuer for payment as unsecured general creditors unless an abandoned property law designates
another Person, and all liability of the Trustee and such Paying Agent with respect to such money shall cease.

 

ARTICLE 10

MISCELLANEOUS PROVISIONS

 

Section 10.01 Incorporators,
Stockholders, Officers and Directors Exempt from Individual Liability. No recourse under or upon any obligation, covenant or
agreement contained in this Indenture or in any Security, or because of any indebtedness evidenced thereby, shall be had against
any incorporator, as such, or against any past, present or future stockholder, officer, director or employee, as such, of the Issuer
or of any successor Person thereof, either directly or through the Issuer or any successor Person thereof, under any rule of law,
statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise,
all such liability being expressly waived and released by the acceptance of the Securities by the Holders thereof and as part of
the consideration for the issue of the Securities.

 

Section 10.02 Provisions
of Indenture for the Sole Benefit of Parties and Securityholders. Nothing in this Indenture or in the Securities, expressed
or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and their successors
and the Holders of the Securities, any legal or equitable right, remedy or claim under this Indenture or under any covenant or
provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors
and of the Holders of the Securities.

 

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Section 10.03 Successors
and Assigns of Issuer Bound by Indenture. All the covenants, stipulations, promises and agreements contained in this Indenture
by or on behalf of the Issuer shall bind its successors and assigns, whether so expressed or not.

 

Section 10.04 Notices
and Demands on Issuer, Trustee and Securityholders. Any notice or demand which by any provision of this Indenture is required
or permitted to be given or served by the Trustee or by the Holders of Securities to or on the Issuer may be given or served by
being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein) addressed (until another address
of the Issuer is filed by the Issuer with the Trustee) to Coffee Holding Co., Inc. at 3475 Victory Boulevard, Staten Island, New
York, 10314, Attention: Chief Financial Officer. Any notice, direction, request or demand by the Issuer or any Securityholder to
or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made at the Corporate
Trust Office.

 

Where this Indenture provides
for notice to Holders, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each Holder entitled thereto, at such Holder’s last address as it appears in the Security
register. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any
notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this
Indenture provides for notice in any manner, such notice may be waived in writing by the person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be
filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon
such waiver.

 

In case, by reason of the
suspension of or irregularities in regular mail service, it shall be impracticable to mail notice to the Issuer and Securityholders
when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as
shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice.

 

Section 10.05 Officers’
Certificates and Opinions of Counsel; Statements to be Contained Therein. Upon any application or demand by the Issuer to the
Trustee to take any action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an Officers’
Certificate stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied
with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with,
except that in the case of any such application or demand as to which the furnishing of such documents is specifically required
by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need
be furnished.

 

Each certificate or opinion
provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for
in this Indenture shall include (a) a statement that the person making such certificate or opinion has read such covenant or condition,
(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained
in such certificate or opinion are based, (c) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has
been complied with and (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been
complied with.

 

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Any certificate, statement
or opinion of an officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of or
representations by counsel, unless such officer knows that the certificate or opinion or representations with respect to the matters
upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care
should know that the same are erroneous. Any certificate, statement or opinion of counsel may be based, insofar as it relates to
factual matters, information with respect to which is in the possession of the Issuer, upon the certificate, statement or opinion
of or representations by an officer or officers of the Issuer, unless such counsel knows that the certificate, statement or opinion
or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous,
or in the exercise of reasonable care should know that the same are erroneous.

 

Any certificate, statement
or opinion of an officer of the Issuer or of counsel may be based, insofar as it relates to accounting matters, upon a certificate
or opinion of or representations by an accountant or firm of accountants in the employ of the Issuer, unless such officer or counsel,
as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which
his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know
that the same are erroneous.

 

Any certificate or opinion
of any independent firm of public accountants filed with the Trustee shall contain a statement that such firm is independent.

 

Section 10.06 Payments
Due on Saturdays, Sundays and Holidays. If the date of maturity of interest on or Principal of the Securities of any series
or the date fixed for redemption or repayment of any such Security shall not be a Business Day, then payment of interest or Principal
need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on
the date of maturity or the date fixed for redemption, and no interest shall accrue for the period after such date.

 

Section 10.07 Conflict
of Any Provision of Indenture with Trust Indenture Act of 1939. If and to the extent that any provision of this Indenture limits,
qualifies or conflicts with another provision incorporated in this Indenture by operation of Sections 310 to 317, inclusive, of
the Trust Indenture Act of 1939, such incorporated provision shall control.

 

Section 10.08 New York
Law to Govern. This Indenture and each Security shall be deemed to be a contract under the laws of the State of New York, and
for all purposes shall be construed in accordance with the laws of such State.

 

Section 10.09 Counterparts.
This Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together
constitute but one and the same instrument.

 

Section 10.10 Effect
of Headings. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect
the construction hereof.

 

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ARTICLE 11

REDEMPTION OF SECURITIES

 

Section 11.01 Applicability
of Article. The provisions of this Article shall be applicable to the Securities of any series which are redeemable before
their maturity except as otherwise specified as contemplated by Section 2.03 for Securities of such series.

 

Section 11.02 Notice
of Redemption; Partial Redemptions. Notice of redemption to the Holders of Securities of any series to be redeemed as a whole
or in part at the option of the Issuer shall be given by mailing notice of such redemption by first class mail, postage prepaid,
at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of Securities of such series
at their last addresses as they shall appear upon the registry books. Any notice which is mailed in the manner herein provided
shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Failure to give notice by
mail, or any defect in the notice to the Holder of any Security of a series designated for redemption as a whole or in part shall
not affect the validity of the proceedings for the redemption of any other Security of such series.

 

The notice of redemption
to each such Holder shall specify the CUSIP numbers of such Securities to be redeemed, the Principal amount of each Security of
such series held by such Holder to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment,
that payment will be made upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption
will be paid as specified in such notice and that on and after said date interest thereon or on the portions thereof to be redeemed
will cease to accrue. In case any Security of a series is to be redeemed in part only the notice of redemption shall state the
portion of the Principal amount thereof to be redeemed, the method the Trustee shall use to determine such Securities to be redeemed
as specified in the last paragraph of this Section 11.02, if applicable, and shall state that on and after the date fixed for redemption,
upon surrender of such Security, a new Security or Securities of such series in Principal amount equal to the unredeemed portion
thereof will be issued.

 

The notice of redemption
of Securities of any series to be redeemed at the option of the Issuer shall be given by the Issuer or, at the Issuer’s written
request, by the Trustee in the name and at the expense of the Issuer.

 

By 11:00 a.m. (New York
City time) on the redemption date specified in the notice of redemption given as provided in this Section, the Issuer will deposit
with the Trustee or with one or more paying agents (or, if the Issuer is acting as its own paying agent, set aside, segregate and
hold in trust as provided in Section 3.03) an amount of money sufficient to redeem on the redemption date all the Securities of
such series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed for
redemption. If less than all the outstanding Securities of a series are to be redeemed, the Issuer will deliver to the Trustee
at least 70 days (unless a shorter period shall be satisfactory to the Trustee) prior to the date fixed for redemption an Officers’
Certificate stating the aggregate Principal amount of Securities to be redeemed.

 

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In the case of the redemption
of all of the Securities of a series outstanding, the Issuer shall notify the Trustee in writing of the redemption date 45 days
(unless a shorter period shall be satisfactory to the Trustee) prior to the redemption date.

 

If less than all the Securities
of a series are to be redeemed, the Trustee shall select, pro rata or by lot or in such manner as it shall deem appropriate and
fair, Securities of such series to be redeemed in whole or in part. Securities of a series may be redeemed in part in multiples
equal to the minimum authorized denomination for Securities of such series or any multiple thereof. The Trustee shall promptly
notify the Issuer in writing of the Securities of such series selected for redemption and, in the case of any Securities of such
series selected for partial redemption, the Principal amount thereof to be redeemed. For all purposes of this Indenture, unless
the context otherwise requires, all provisions relating to the redemption of Securities of any series shall relate, in the case
of any Security redeemed or to be redeemed only in part, to the portion of the Principal amount of such Security which has been
or is to be redeemed.

 

Section 11.03 Payment
of Securities Called for Redemption. If notice of redemption has been given as above provided, the Securities or portions of
Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable
redemption price, together with interest accrued to the date fixed for redemption, and on and after said date (unless the Issuer
shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest
on the Securities or portions of Securities so called for redemption shall cease to accrue and, except as provided in Section 5.05
and Section 9.04, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security
under this Indenture, and the Holders thereof shall have no right in respect of such Securities except the right to receive the
redemption price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities
at a place of payment specified in said notice, said Securities or the specified portions thereof shall be paid and redeemed by
the Issuer at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided
that any semiannual payment of interest becoming due on the date fixed for redemption shall be payable to the Holders of such Securities
registered as such on the relevant record date subject to the terms and provisions of Section 2.07 hereof.

 

If any Security called
for redemption shall not be so paid upon surrender thereof for redemption, the Principal shall, until paid or duly provided for,
bear interest from the date fixed for redemption at the rate of interest or Yield to Maturity (in the case of an Original Issue
Discount Security) borne by the Security.

 

Upon presentation of any
Security redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and deliver to or on the order of the
Holder thereof, at the expense of the Issuer, a new Security or Securities of such series, of authorized denominations, in Principal
amount equal to the unredeemed portion of the Security so presented, pursuant to Sections 2.04, 2.05 and 2.06.

 

Section 11.04 Exclusion
of Certain Securities from Eligibility for Selection for Redemption. Securities shall be excluded from eligibility for selection
for redemption if they are identified by registration and certificate number in a written statement signed by an authorized officer
of the Issuer and delivered to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as
being owned of record and beneficially by, and not pledged or hypothecated by either (a) the Issuer or (b) an entity specifically
identified in such written statement directly or indirectly controlling or controlled by or under direct or indirect common control
with the Issuer.

 

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Section 11.05 Conversion
Arrangement On Call For Redemption. In connection with any redemption of Securities, the Issuer shall deposit the amount due
in connection with such redemption as required by Section 11.02 or it may arrange for the purchase and conversion of any Securities
called for redemption by an agreement with one or more investment bankers or other purchasers to purchase such Securities and to
make the deposit required of it by Section 11.02 on its behalf by paying to the Trustee or the Paying Agent in trust for the Securityholders,
on or before 10:00 a.m. New York time on the redemption date, an amount no less than the redemption price, together with interest,
if any, accrued to the redemption date of such Securities, in immediately available funds. Notwithstanding anytime to the contrary
contained in this Article 11, the obligation of the Issuer to pay the redemption price of such Securities, including all accrued
interest, if any, shall be deemed to be satisfied and discharged to the extent such amount is so paid by such purchasers. If such
an agreement is entered into, any Securities not duly surrendered for conversion by the Holders thereof may, at the option of the
Issuer, be deemed, to the fullest extent permitted by law, acquired by such purchasers from such Holders and (notwithstanding anything
to the contrary contained in Article 12) surrendered by such purchasers for conversion, all as of immediately prior to the close
of business on the last day on which Securities of such series called for redemption may be converted in accordance with this Indenture
and the terms of such Securities, subject to payment of the above amount aforesaid. The Trustee or the Paying Agent shall hold
and pay to the Securityholders whose Securities are selected for redemption any such amount paid to it in the same manner as it
would monies deposited with it by the Issuer for the redemption of Securities. Without the Trustee’s and the Paying Agent’s
prior written consent, no arrangement between the Issuer and such purchasers for the purchase and conversion of any Securities
shall increase or otherwise affect any of the powers, duties, responsibilities or obligations of the Trustee as set forth in this
Indenture, and the Issuer agrees to indemnify the Trustee from, and hold it harmless against, any loss, liability or expense arising
out of or in connection with any such arrangement for the purchase and conversion of any Securities between the Issuer and such
purchasers, including the costs and expenses incurred by the Trustee and the Paying Agent in the defense of any claim or liability
arising out of or in connection with the exercise or performance of any of its powers, duties, responsibilities or obligations
under this Indenture.

 

ARTICLE 12

CONVERSION OF SECURITIES

 

Section 12.01 Applicability
of Article. Securities of any series which are convertible into Capital Stock at the option of the Securityholder shall be
convertible in accordance with their terms and (unless otherwise specified as contemplated by Section 2.03 for Securities of any
series) in accordance with this Article. Each reference in this Article 12 to “a Security” or “the Securities”
refers to the Securities of the particular series that is convertible into Capital Stock. Each reference in this Article to “Capital
Stock” into which Securities of any series are convertible refers to the class of Capital Stock into which the Securities
of such series are convertible in accordance with their terms (as specified as contemplated by Section 2.03). If more than one
series of Securities with conversion privileges are outstanding at any time, the provisions of this Article 12 shall be applied
separately to each such series.

 

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Section 12.02 Right
of Securityholders to Convert Securities. Subject to and upon compliance with the terms of the Securities and the provisions
of Section 11.05 and this Article 12, at the option of the Holder thereof, any Security of any series of any authorized denomination,
or any portion of the Principal amount thereof which is $1,000 or any integral multiple of $1,000, may, at any time during the
period specified in the Securities of such series, or in case such Security or portion thereof shall have been called for redemption,
then in respect of such Security or portion thereof until and including, but not after (unless the Issuer shall default in payment
due upon the redemption thereof) the close of business on the Business Day prior to the date fixed for redemption except that in
the case of redemption at the option of the Securityholder, if specified in the terms of such Securities, such right shall terminate
upon receipt of written notice of the exercise of such option, be converted into duly authorized, validly issued, fully paid and
nonassessable shares of Capital Stock, as specified in such Security, at the conversion rate for each $1,000 Principal amount of
Securities (such initial conversion rate reflecting an initial conversion price specified in such Security) in effect on the conversion
date, or, in case an adjustment in the conversion rate has taken place pursuant to the provisions of Section 12.05, then at the
applicable conversion rate as so adjusted, upon surrender of the Security or Securities, the Principal amount of which is so to
be converted, to the Issuer at any time during usual business hours at the office or agency to be maintained by it in accordance
with the provisions of Section 3.02, accompanied by a written notice of election to convert as provided in Section 12.03 and, if
so required by the Issuer and the Trustee, by a written instrument or instruments of transfer in form satisfactory to the Issuer
and the Trustee duly executed by the registered Holder or his attorney duly authorized in writing. All Securities surrendered for
conversion shall, if surrendered to the Issuer or any conversion agent, be delivered to the Trustee for cancellation and cancelled
by it, or shall, if surrendered to the Trustee, be cancelled by it, as provided in Section 2.10.

 

The initial conversion
price or conversion rate in respect of a series of Securities shall be as specified in the Securities of such series. The conversion
price or conversion rate will be subject to adjustment on the terms set forth in Section 12.05 or such other or different terms,
if any, as may be specified by Section 2.03 for Securities of such series. Provisions of this Indenture that apply to conversion
of all of a Security also apply to conversion of a portion of it.

 

Section 12.03 Issuance
of Shares of Capital Stock on Conversion. As promptly as practicable after the surrender, as herein provided, of any Security
or Securities for conversion, the Issuer shall deliver or cause to be delivered at its said office or agency to or upon the written
order of the Holder of the Security or Securities so surrendered a certificate or certificates representing the number of duly
authorized, validly issued, fully paid and nonassessable shares of Capital Stock into which such Security or Securities may be
converted in accordance with the terms thereof and the provisions of this Article 12. Prior to delivery of such certificate or
certificates, the Issuer shall require a written notice at its said office or agency from the Holder of the Security or Securities
so surrendered stating that the Holder irrevocably elects to convert such Security or Securities, or, if less than the entire Principal
amount thereof is to be converted, stating the portion thereof to be converted. Such notice shall also state the name or names
(with address and social security or other taxpayer identification number) in which said certificate or certificates are to be
issued. Such conversion shall be deemed to have been made at the time that such Security or Securities shall have been surrendered
for conversion and such notice shall have been received by the Issuer or the Trustee, the rights of the Holder of such Security
or Securities as a Securityholder shall cease at such time, the person or persons entitled to receive the shares of Capital Stock
upon conversion of such Security or Securities shall be treated for all purposes as having become the record holder or holders
of such shares of Capital Stock at such time and such conversion shall be at the conversion rate in effect at such time. In the
case of any Security of any series which is converted in part only, upon such conversion, the Issuer shall execute and the Trustee
shall authenticate and deliver to the Holder thereof, as requested by such Holder, a new Security or Securities of such series
of authorized denominations in aggregate Principal amount equal to the unconverted portion of such Security.

 

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If the last day on which
a Security may be converted is not a Business Day in a place where a conversion agent is located, the Security may be surrendered
to that conversion agent on the next succeeding day that is a Business Day.

 

The Issuer will not be
required to deliver certificates for shares of Capital Stock upon conversion while its stock transfer books are closed for a meeting
of shareholders or for the payment of dividends or for any other purpose, but certificates for shares of Capital Stock shall be
delivered as soon as the stock transfer books shall again be opened.

 

Section 12.04 No Payment
or Adjustment for Interest or Dividends. Unless otherwise specified as contemplated by Section 2.03 for Securities of such
series, Securities surrendered for conversion during the period from the close of business on any regular record date (or special
record date for payment of defaulted interest) next preceding any interest payment date to the opening of business on such interest
payment date (except Securities called for redemption on a redemption date within such period) when surrendered for conversion
must be accompanied by payment of an amount equal to the interest thereon which the registered Holder is to receive on such interest
payment date. Payment of interest shall be made, as of such interest payment date or such date, as the case may be, to the Holder
of record of the Securities as of such regular, or special record date, as applicable. Except where Securities surrendered for
conversion must be accompanied by payment as described above, no interest on converted Securities will be payable by the Issuer
on any interest payment date subsequent to the date of conversion. No other payment or adjustment for interest or dividends is
to be made upon conversion. Notwithstanding the foregoing, upon conversion of any Original Issue Discount Security, the fixed number
of shares of Capital Stock into which such Security is convertible delivered by the Issuer to the Holder thereof shall be applied,
first, to pay the accrued original issue discount attributable to the period from the date of issuance to the date of conversion
of such Security, and, second, to pay the balance of the Principal amount of such Security.

 

Section 12.05 Adjustment
of Conversion Rate. Unless otherwise specified as contemplated by Section 2.03 for Securities of such series, the conversion
rate for Securities in effect at any time shall be subject to adjustment as follows:

 

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(a) In case the Issuer
shall (i) declare a dividend or make a distribution on the class of Capital Stock into which Securities of such series are convertible
in shares of its Capital Stock, (ii) subdivide the outstanding shares of the class of Capital Stock into which Securities of such
series are convertible into a greater number of shares, (iii)combine the outstanding shares of the class of Capital Stock into
which Securities of such series are convertible into a smaller number of shares or (iv) issue by reclassification of the shares
of the class of Capital Stock into which Securities of such series are convertible (including any such reclassification in connection
with a consolidation or merger in which the Issuer is the continuing corporation) any shares, the conversion rate for the Securities
of such series in effect at the time of the record subdivision, combination or reclassification, shall be proportionately adjusted
so that the Holder of any Security of such series surrendered for conversion after such time shall be entitled to receive the number
and kind of shares which he would have owned or have been entitled to receive had such Security been converted immediately prior
to such time. Similar adjustments shall be made whenever any event listed above shall occur.

 

(b) In case the Issuer
shall fix a record date for the issuance of rights or warrants to all holders of the class of Capital Stock into which Securities
of such series are convertible entitling them (for a period expiring within 45 days after such record date) to subscribe for or
purchase shares of such class of Capital Stock (or securities convertible into shares of such class of Capital Stock) at a price
per share (or, in the case of a right or warrant to purchase securities convertible into such class of Capital Stock, having a
conversion price per share, after adding thereto the exercise price, computed on the basis of the maximum number of shares of such
class of Capital Stock issuable upon conversion of such convertible securities, per share of such class of Capital Stock, so issuable)
less than the current market price per share of such class of Capital Stock (as defined in subsection (e) below) on the date on
which such issuance was declared or otherwise announced by the Issuer (the “Determination Date”), the number
of shares of such class of Capital Stock into which each $1,000 Principal amount of Securities shall be convertible after such
record date shall be determined by multiplying the number of shares of such class of Capital Stock into which such Principal amount
of Securities was convertible immediately prior to such record date by a fraction, of which the numerator shall be the number of
shares of such class of Capital Stock outstanding on the Determination Date plus the number of additional shares of such class
of Capital Stock offered for subscription or purchase (or in the case of a right or warrant to purchase securities convertible
into such class of Capital Stock, the aggregate number of additional shares of such class of Capital Stock into which the convertible
securities so offered are initially convertible), and of which the denominator shall be the number of shares of such class of Capital
Stock outstanding on the Determination Date plus the number of shares of such class of Capital Stock obtained by dividing the aggregate
offering price of the total number of shares so offered (or, in the case of a right or warrant to purchase securities convertible
into such class of Capital Stock, the aggregate initial conversion price of the convertible securities so offered, after adding
thereto the aggregate exercise price of such rights or warrants computed on the basis of the maximum number of shares of such class
of Capital Stock issuable upon conversion of such convertible securities) by such current market price. Shares of such class of
Capital Stock of the Issuer owned by or held for the account of the Issuer shall not be deemed outstanding for the purpose of any
such computation. Such adjustment shall be made successively whenever such a record date is fixed; and to the extent that shares
of such class of Capital Stock are not delivered (or securities convertible into shares of such class of Capital Stock are not
delivered) after the expiration of such rights or warrants (or, in the case of rights or warrants to purchase securities convertible
into such class of Capital Stock once exercised, the expiration of the conversion right of such securities) the conversion rate
shall be readjusted to the conversion rate which would then be in effect had the adjustments made upon the issuance of such rights
or warrants (or securities convertible into shares) been made upon the basis of delivery of only the number of shares actually
delivered. In the event that such rights or warrants are not so issued, the conversion rate shall again be adjusted to be the conversion
rate which would then be in effect if such record date had not been fixed.

 

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(c) In case the Issuer
shall fix a record date for the making of a distribution to all holders of the class of Capital Stock into which Securities of
such series are convertible (including any such distribution made in connection with a consolidation or merger in which the Issuer
is the continuing corporation) of evidences of its indebtedness or assets (excluding any cash dividends paid from retained earnings
and dividends payable in Capital Stock for which adjustment is made pursuant to subsection (a) above or (d) below) or subscription
rights or warrants (excluding subscription rights or warrants to purchase the class of Capital Stock into which Securities of such
series are convertible), the number of shares of such class of Capital Stock into which each $1,000 Principal amount of Securities
of such series shall be convertible after such record date shall be determined by multiplying the number of shares of such class
of Capital Stock into which such Principal amount of Securities was convertible immediately prior to such record date by a fraction,
of which the numerator shall be the fair market value of the assets of the Issuer, after deducting therefrom all liabilities of
the Issuer and all preferences (including accrued but unpaid dividends) in respect of classes of Capital Stock having a preference
with respect to the assets of the Issuer over such class of Capital Stock (all as determined by the Board of Directors, whose determination
shall be conclusive, and described in a certificate signed by chairman of the Issuer’s Board of Directors, its president,
any vice president, its treasurer, any assistant treasurer, its secretary or any assistant secretary, filed with the Trustee and
each conversion agent) on such record date, and of which the denominator shall be such fair market value after deducting therefrom
such liabilities and preferences, less the fair market value (as determined by the Board of Directors, whose determination shall
be conclusive, and described in a statement filed with the Trustee and each conversion agent) of the assets or evidences of indebtedness,
so distributed or of such subscription rights or warrants applicable, so distributed. Such adjustment shall be made successively
whenever such a record date is fixed; and in the event that such distribution is not so made, the conversion rate shall again be
adjusted to the conversion rate which would then be in effect if such record date had not been fixed.

 

(d) In case the Issuer
shall, by dividend or otherwise, distribute to all holders of its Capital Stock cash (excluding any dividend or distribution in
connection with the liquidation, dissolution or winding up of the Issuer, whether voluntary or involuntary), then, in such case,
unless the Issuer elects to reserve such cash for distribution to the Holders of the Securities upon the conversion of the Securities
so that any such Holder converting Securities will receive upon such conversion, in addition to the shares of Capital Stock to
which such Holder is entitled, the amount of cash which such Holder would have received if such Holder had, immediately prior to
the record date for such distribution of cash, converted its Securities into Capital Stock, the conversion rate shall be adjusted
so that the same shall equal the rate determined by multiplying the conversion rate in effect immediately prior to the record date
by a fraction of which the denominator shall be the current market price of the Capital Stock (determined as provided in Section
12.05(e) on the record date less the amount of cash so distributed (and not excluded as provided above) applicable to one share
of Capital Stock and the numerator shall be such current market price of the Capital Stock (determined as provided in Section 12.05(e)),
such adjustment to be effective immediately prior to the opening of business on the day following the record date; provided, however,
that in the event the portion of the cash so distributed applicable to one share of Capital Stock is equal to or greater than the
current market price of the Capital Stock (determined as provided in (e)Section 12.05(e)) on the record date, in lieu of the foregoing
adjustment, adequate provision shall be made so that each Securityholder shall have the right to receive upon conversion the amount
of cash such Holder would have received had such Holder converted each Security on the record date. If such dividend or distribution
is not so paid or made, the conversion rate shall again be adjusted to be the conversion rate which would then be in effect if
such dividend or distribution had not been declared.

 

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(e) For the purpose of
any computation under subsections (b) and (d) above and Section 12.06, the current market price per share of the Capital Stock
on any date as of which such price is to be computed shall mean the average of the Closing Prices for the 30 consecutive Business
Days commencing 45 Business Days before such date.

 

(f) No adjustment in the
conversion rate shall be required unless such adjustment would require a cumulative increase or decrease of at least 1% in such
rate; provided, however, that any adjustments which by reason of this subsection (f) are not required to be made shall be carried
forward and taken into account in any subsequent adjustment; and provided further, that adjustments shall be required and
made in accordance with the provisions of this Article 12 (other than this subsection (f)) not later than such time as may be required
in order to preserve the tax-free nature of a States income tax purposes to the Holders of Securities or the class of Capital Stock
into which such Securities are convertible. All calculations under this Article 12 shall be made to the nearest cent or to the
nearest one-thousandth of a share, as the case may be. Anything in this Section 12.05 to the contrary notwithstanding, the Issuer
shall be entitled to make such adjustments in the conversion rate, in addition to those required by this Section 12.05, as it in
its discretion shall determine to be advisable in order that any stock dividend, subdivision of shares, distribution of rights
to purchase stock or securities, or distribution of securities convertible into or exchangeable for stock hereafter made by the
Issuer to its shareholders shall not be taxable for United States income tax purposes.

 

(g) Whenever the conversion
rate is adjusted, as herein provided, the Issuer shall promptly file with the Trustee and with the office or agency maintained
by the Issuer for the conversion of Securities of such series pursuant to Section 3.02, a certificate of a firm of independent
public accountants of recognized national standing selected by the Board of Directors (who may be the regular accountants employed
by the Issuer) setting forth the conversion rate after such adjustment and setting forth a brief statement of the facts requiring
such adjustment and a computation thereof. Such certificate shall be conclusive evidence of the correctness of such adjustment.
Neither the Trustee nor any conversion agent shall be under any duty or responsibility with respect to any such certificate or
any facts or computations set forth therein, except to exhibit said certificate from time to time to any Securityholder of such
series desiring to inspect the same. The Issuer shall promptly cause a notice setting forth the adjusted conversion rate to be
mailed to the Holders of Securities of such series, as their names and addresses appear upon the register of the Issuer.

 

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(h) In the event that at
any time, as a result of shares of any other class of Capital Stock becoming issuable in exchange or substitution for or in lieu
of shares of the class of Capital Stock into which such Securities are convertible or as a result of an adjustment made pursuant
to subsection (a) above, the Holder of any Security of such series thereafter surrendered for conversion shall become entitled
to receive any shares of the Issuer other than shares of the class of Capital Stock into which the Issuer of such series are convertible,
thereafter the number of such other shares so receivable upon conversion of any Security shall be subject to adjustment from time
to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the class of Capital Stock
into which the Securities of such series are convertible contained in subsections (a) to (f), inclusive, above, and the provisions
of this Article 12 with respect to the class of Capital Stock into which the Securities of such series are convertible shall apply
on like terms to any such other shares.

 

(i) The conversion rate
with respect to any Original Issue Discount Security, the terms of which provide for convertibility, shall not be adjusted during
the term of such Original Issue Discount Security for accrued original issue discount.

 

(j) In the event that the
Securities of any series are convertible into more than one class of Capital Stock, the provisions of this Section 12.05 shall
apply separately to events affecting each such class.

 

Section 12.06 No Fractional
Shares to Be Issued. No fractional shares of Capital Stock shall be issued upon conversions of Securities. If more than one
Security of any series shall be surrendered for conversion at one time by the same Holder, the number of full shares which shall
be issuable upon conversion thereof shall be computed on the basis of the aggregate Principal amount of the Securities of such
series (or specified portions thereof to the extent permitted hereby) so surrendered. Instead of a fraction of a share of Capital
Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified portions thereof), the Issuer
shall pay a cash adjustment in respect of such fraction of a share in an amount equal to the same fractional interest of the current
market price (as defined in Section 12.05) per share of Capital Stock on the Business Day next preceding the day of conversion.

 

Section 12.07 Preservation
of Conversion Rights Upon Consolidation, Merger, Sale or Conveyance. In case of any consolidation of the Issuer with, or merger
of the Issuer into, any other corporation (other than a consolidation or merger in which the Issuer is the continuing corporation),
or in the case of any sale or transfer of all or substantially all of the assets of the Issuer, the corporation formed by such
consolidation or the corporation into which the Issuer shall have been merged or the corporation which shall have acquired such
assets, as the case may be, shall execute and deliver to the Trustee, a supplemental indenture, subject to the provisions of Article
12and ARTICLE 8 as they relate to supplemental indentures, providing that the Holder of each Security then Outstanding of a series
which was convertible into Capital Stock shall have the right thereafter to convert such Security into the kind and amount of shares
of stock and other securities and property, including cash, receivable upon such consolidation, merger, sale or transfer by a holder
of the number of shares of Capital Stock of the Issuer into which such Securities might have been converted immediately prior to
such consolidation, merger, sale or transfer. Such supplemental indenture shall conform to the provisions of the Trust Indenture
Act of 1939 as then in effect and shall provide for adjustments which shall be as nearly equivalent as may be practicable to the
adjustments provided for in this Article 12. Neither the Trustee nor any conversion agent shall be under any responsibility to
determine the correctness of any provision contained in any such supplemental indenture relating either to the kind or amount of
shares of stock or other securities or property receivable by Securityholders upon the conversion of their Securities after any
such consolidation, merger, sale or transfer, or to any adjustment to be made with respect there to and, subject to the provisions
of Article 5, may accept as conclusive evidence of the correctness of any such provisions, and shall be protected in relying upon,
an Opinion of Counsel with respect thereto. If in the case of any such consolidation, merger, sale or transfer, the stock or other
securities and property receivable by a Holder of the Securities includes stock or other securities and property of a corporation
other than the successor or purchasing corporation, then such supplemental indenture shall also be executed by such other corporation
and shall contain such additional provisions to protect the interests of the Holders of the Securities as the Board of Directors
shall reasonably consider necessary. The above provisions of this Section 12.07 shall similarly apply to successive consolidations,
mergers, sales or transfers.

 

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Section 12.08 Notice to
Security Holders of a Series Prior to Taking Certain Types of Action. With respect to the Securities of any series, in case:

 

(a) the Issuer shall authorize
the issuance to all holders of the class of Capital Stock into which Securities of such series are convertible of rights or warrants
to subscribe for or purchase shares of its Capital Stock or of any other right;

 

(b) the Issuer shall authorize
the distribution to all holders of the class of Capital Stock into which Securities of such series are convertible of evidences
of its indebtedness or assets (except for the exclusions with respect to certain dividends set forth in Section 12.05(c));

 

(c) of any subdivision,
combination or reclassification of the class of Capital Stock into which Securities of such series are convertible or of any consolidation
or merger to which the Issuer is a party and for which approval by the shareholders of the Issuer is required, or of the sale or
transfer of all or substantially all of the assets of the Issuer; or

 

(d) of the voluntary or
involuntary dissolution, liquidation or winding up of the Issuer;

 

then the Issuer shall cause to be filed with
the Trustee and at the office or agency maintained for the purpose of conversion of Securities of such series pursuant to Section
3.02, and shall cause to be mailed to the Holders of Securities of such series, at their last addresses as they shall appear upon
the register of the Issuer, at least 10 days prior to the applicable record date hereinafter specified, a notice stating (i) the
date as of which the holders of such class of Capital Stock to be entitled to receive any such rights, warrants or distribution
are to be determined, or (ii) the date on which any such subdivision, combination, reclassification, consolidation, merger, sale,
transfer, dissolution, liquidation, winding up or other action is expected to become effective, and the date as of which it is
expected that holders of record of such class of Capital Stock shall be entitled to exchange their Capital Stock of such class
for securities or other property, if any, deliverable upon such subdivision, combination, reclassification, consolidation, merger,
sale, transfer, dissolution, liquidation, winding up or other action. The failure to give the notice required by this Section 12.08
or any defect therein shall not affect the legality or validity of any distribution, right, warrant, subdivision, combination,
reclassification, consolidation, merger, sale, transfer, dissolution, liquidation, winding up or other action, or the vote upon
any of the foregoing. Such notice shall also be published by and at the expense of the Issuer not later than the aforesaid filing
date at least once in an Authorized Newspaper.

 

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Section 12.09 Covenant
to Reserve Shares for Issuance on Conversion of Securities. The Issuer covenants that at all times it will reserve and keep
available out of each class of its authorized Capital Stock, free from preemptive rights, solely for the purpose of issue upon
conversion of Securities of any series as herein provided, such number of shares of Capital Stock of such class as shall then be
issuable upon the conversion of all Outstanding Securities of such series. The Issuer covenants that an shares of Capital Stock
which shall be so issuable shall, when issued or delivered, be duly and validly issued shares of the class of authorized Capital
Stock into which Securities of such series are convertible, and shall be fully paid and nonassessable, free of all liens and charges
and not subject to preemptive rights and that, upon conversion, the appropriate capital stock accounts of the Issuer will be duly
credited.

 

Section 12.10 Compliance
with Governmental Requirements. The Issuer covenants that if any shares of Capital Stock required to be reserved for purposes
of conversion of Securities hereunder require registration or listing with or approval of any governmental authority under any
Federal or State law, pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, or
any national or regional securities exchange on which such Capital Stock is listed at the time of delivery of any shares of such
Capital Stock, before such shares may be issued upon conversion, the Issuer will use reasonable efforts to cause such shares to
be duly registered, listed or approved, as the case may be.

 

Section 12.11 Payment
of Taxes Upon Certificates for Shares Issued Upon Conversion. The issuance of certificates for shares of Capital Stock upon
the conversion of Securities shall be made without charge to the converting Securityholders for any tax (including, without limitation,
all documentary and stamp taxes) in respect of the issuance and delivery of such certificates, and such certificates shall be issued
in the respective names of, or in such names as may be directed by, the Holders of the Securities converted; provided, however,
that the Issuer shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and
delivery of any such certificate in a name other than that of the Holder of the Security converted, and the Issuer shall not be
required to issue or deliver such certificates unless or until the person or persons requesting the issuance thereof shall have
paid to the Issuer the amount of such tax or shall have established to the satisfaction of the Issuer that such tax has been paid.

 

Section 12.12 Trustee’s
Duties with Respect to Conversion Provisions. The Trustee and any conversion agent shall not at any time be under any duty
or responsibility to any Securityholder to determine whether any facts exist which may require any adjustment of the conversion
rate or conversion price, or with respect to the nature or extent of any such adjustment when made, or with respect to the method
employed, or herein or in any supplemental indenture provided to be employed, in making the same. Neither the Trustee nor any conversion
agent shall be accountable with respect to the registration under securities laws, listing, validity or value (or the kind or amount)
of any shares of Capital Stock, or of any other securities or property, which may at any time be issued or delivered upon the conversion
of any Security; and neither the Trustee nor any conversion agent makes any representation with respect thereto. Neither the Trustee
nor any conversion agent shall be responsible for any failure of the Issuer to make any cash payment or to issue, transfer or deliver
any shares of stock or stock certificates or other securities or property upon the surrender of any Security for the purpose of
conversion; and the Trustee, subject to the provisions of Article 5, and any conversion agent shall not be responsible for any
failure of the Issuer to comply with any of the covenants of the Issuer contained in this Article 12.

 

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ARTICLE 13

SUBORDINATION OF SECURITIES

 

Section 13.01 Agreement
Of Subordination. The Issuer covenants and agrees, and each Holder of Securities issued hereunder by his acceptance thereof
likewise covenants and agrees, that all Securities shall be issued subject to the provisions of this ARTICLE 13; and each Holder,
whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions.

 

The payment of the principal
of, premium, if any, and interest on all Securities issued hereunder shall, to the extent and in the manner hereinafter set forth,
be subordinated and subject in right of payment to the prior payment in full of all Senior Indebtedness, whether outstanding at
the date of this Indenture or thereafter incurred.

 

The provisions of this
ARTICLE 13 define the subordination of the Securities, as obligations of the Issuer, with respect to Senior Indebtedness of the
Issuer, as defined for the Issuer.

 

No provision of this ARTICLE
13 shall prevent the occurrence of any default or Event of Default hereunder.

 

Section 13.02 Payments
to Holders. In the event and during the continuation of any default in the payment of principal, premium, interest or any other
payment due on any Senior Indebtedness of the Issuer continuing beyond the period of grace, if any, specified in the instrument
or lease evidencing such Senior Indebtedness of the Issuer, then, unless and until such default shall have been cured or waived
or shall have ceased to exist, no payment shall be made by the Issuer with respect to the principal of, or premium, if any, or
interest on the Securities, except payments made pursuant to Article 9 hereof from amounts deposited with the Trustee pursuant
thereto prior to the happening of such default.

 

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Upon any payment by the
Issuer, or distribution of assets of the Issuer of any kind or character, whether in cash, property or securities, to creditors
upon any dissolution or winding-up or liquidation or reorganization of the Issuer, whether voluntary or involuntary or in bankruptcy,
insolvency, receivership or other proceedings, all amounts due or to become due upon all Senior Indebtedness of the Issuer shall
first be paid in full, or payment thereof provided for in money in accordance with its terms, before any payment is made on account
of principal (including, if applicable, any cash due upon conversion the Securities), premium, if any, or interest on the Securities
(except payments made pursuant to ARTICLE 9 hereof from amounts deposited with the Trustee pursuant thereto prior to the happening
of such dissolution, winding-up, liquidation or reorganization); and upon any such dissolution or winding-up or liquidation or
reorganization any payment by the Issuer, or distribution of assets of the Issuer of any kind or character, whether in cash, property
or securities, to which the holders of the Securities or the Trustee would be entitled, except for the provisions of this ARTICLE
13, shall (except as aforesaid) be paid by the Issuer or by any receiver, trustee in bankruptcy, liquidating trustee, agent or
other Person making such payment or distribution, or by the holders of the Securities or by the Trustee under this Indenture if
received by them or it, directly to the holders of Senior Indebtedness of the Issuer (pro rata to such holders on the basis of
the respective amounts of Senior Indebtedness of the Issuer held by such holders, as calculated by the Issuer) or their representative
or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments evidencing any Senior Indebtedness
of the Issuer may have been issued, as their respective interests may appear, to the extent necessary to pay all Senior Indebtedness
of the Issuer in full, in money or money’s worth, after giving effect to any concurrent payment or distribution to or for
the holders of Senior Indebtedness of the Issuer, before any payment or distribution is made to the holders of the Securities or
to the Trustee.

 

In the event that, notwithstanding
the foregoing, any payment or distribution of assets of the Issuer of any kind or character, whether in cash, property or securities,
prohibited by the foregoing, shall be received by the Trustee or the holders of the Securities before all Senior Indebtedness of
the Issuer is paid in full, or provision is made for such payment in money in accordance with its terms, such payment or distribution
shall be held in trust for the benefit of and shall be paid over or delivered to the holders of Senior Indebtedness of the Issuer
or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments
evidencing any Senior Indebtedness of the Issuer may have been issued, as their respective interests may appear, as calculated
by the Issuer, for application to the payment of all Senior Indebtedness of the Issuer remaining unpaid to the extent necessary
to pay all Senior Indebtedness of the Issuer in full in money in accordance with its terms, after giving effect to any concurrent
payment or distribution to or for the holders of such Senior Indebtedness.

 

For purposes of this ARTICLE
13, the words, “cash, property or securities” shall not be deemed to include shares of stock of the Issuer as reorganized
or readjusted, or securities of the Issuer or any other corporation provided for by a plan of reorganization or readjustment, the
payment of which is subordinated at least to the extent provided in this ARTICLE 13 with respect to the Securities to the payment
of all Senior Indebtedness of the Issuer which may at the time be outstanding; provided that (i) the Senior Indebtedness of the
Issuer is assumed by the new corporation, if any, resulting from any such reorganization or readjustment, and (ii) the rights of
the holders of the Senior Indebtedness of the Issuer (other than leases) and of leases which are assumed are not, without the consent
of such holders, altered by such reorganization or readjustment. The consolidation of the Issuer with, or the merger of the Issuer
into, another corporation or the liquidation or dissolution of the Issuer following the conveyance or transfer of its property
as an entirety, or substantially as an entirety, to another corporation upon the terms and conditions provided for in ARTICLE 8
hereof shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 13.02 if such
other corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in
ARTICLE 8 hereof. Nothing in this Section 13.02 shall apply to claims of, or payments to, the Trustee under or pursuant to Section
5.06.

 

    	-60-

     

    

 

Section 13.03 Subrogation
Of Securities. Subject to the payment in full of all Senior Indebtedness of the Issuer, the rights of the holders of the Securities
shall be subrogated to the rights of the holders of Senior Indebtedness of the Issuer to receive payments or distributions of cash,
property or securities of the Issuer applicable to the Senior Indebtedness of the Issuer until principal (including, if applicable,
any cash due upon conversion the Securities), premium, if any, and interest on the Securities on the Securities shall be paid in
full; and, for the purposes of such subrogation, no payments or distributions to the holders of the Senior Indebtedness of the
Issuer of any cash, property or securities to which the holders of the Securities or the Trustee would be entitled except for the
provisions of this ARTICLE 13 to or for the benefit of the holders of Senior Indebtedness of the Issuer by holders of the Securities
or the Trustee, shall, as between the Issuer, its creditors other than holders of Senior Indebtedness of the Issuer, and the holders
of the Securities, be deemed to be a payment by the Issuer to or on account of the Senior Indebtedness of the Issuer. It is understood
that the provisions of this ARTICLE 13 are and are intended solely for the purpose of defining the relative rights of the holders
of the Securities, on the one hand, and the holders of the Senior Indebtedness of the Issuer, on the other hand.

 

Nothing contained in this
ARTICLE 13 or elsewhere in this Indenture or in the Securities is intended to or shall impair, as between the Issuer, its creditors
other than the holders of its Senior Indebtedness, and the holders of the Securities, the obligation of the Issuer, which is absolute
and unconditional, to pay to the holders of the Securities the principal (including, if applicable, any cash due upon conversion
the Securities), premium, if any, and interest on the Securities as and when the same shall become due and payable in accordance
with their terms, or is intended to or shall affect the relative rights of the holders of the Securities and creditors of the Issuer
other than the holders of its Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the holder of any
Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights,
if any, under this ARTICLE 13 of the holders of Senior Indebtedness of the Issuer in respect of cash, property or securities of
the Issuer received upon the exercise of any such remedy.

 

Upon any payment or distribution
of assets of the Issuer referred to in this ARTICLE 13, the Trustee, subject to the provisions of Section 5.01, and the holders
of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which such
dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy,
liquidating trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to the holders of the
Securities, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior
Indebtedness and other indebtedness of the Issuer, the amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this ARTICLE 13.

 

Section 13.04 Authorization
By Holders. Each holder of a Security by his or her acceptance thereof authorizes and directs the Trustee on his or her behalf
to take such action as may be necessary or appropriate to effectuate the subordination provided in this ARTICLE 13 appoints the
Trustee his attorney-in-fact for any and all such purposes.

 

    	-61-

     

    

 

Section 13.05 Notice
to Trustee. The Issuer shall give promptly written notice to a Responsible Officer of the Trustee of any fact known to the
Issuer which would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities pursuant to the
provisions of this ARTICLE 13. Notwithstanding the provisions of this ARTICLE 13 or any other provision of this Indenture, the
Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment of amounts
to or by the Trustee in respect of the Securities pursuant to the provisions of this ARTICLE 13, unless and until a Responsible
Officer of the Trustee shall have received written notice thereof at the Corporate Trust Office of the Trustee from the Issuer
or a holder or holders of Senior Indebtedness or from any trustee therefor; and before the receipt of any such written notice,
the Trustee, subject to the provisions of Section 5.01, shall be entitled in all respects to assume that no such facts exist; provided
that if on a date not fewer than three Business Days prior to the date upon which by the terms hereof any such amounts may become
payable for any purpose (including, without limitation, the payment of principal (including, if applicable, any cash due upon conversion
of the Securities), premium, if any, and interest on any Security) the Trustee shall not have received, with respect to such monies,
the notice provided for in this Section 13.05, then, anything herein contained to the contrary notwithstanding, the Trustee shall
have full power and authority to receive such amounts and to apply the same to the purpose for which they were received, and shall
not be affected by any notice to the contrary which may be received by it on or after such prior date. Notwithstanding anything
to the contrary hereinbefore set forth, nothing shall prevent any payment or delivery by the Issuer or the Trustee to the Holders
of amounts in connection with a redemption of Securities if (i) notice of such redemption has been given pursuant to ARTICLE 11
or Section 9.01 hereof prior to the receipt by the Trustee of written notice as aforesaid, and (ii) such notice of redemption is
given not earlier than 60 days before the redemption date.

 

The Trustee conclusively
shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness
of the Issuer (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness
of the Issuer or a trustee on behalf of any such holder or holders. In the event that the Trustee determines in good faith that
further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness of the Issuer to participate
in any payment or distribution pursuant to this ARTICLE 13, the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of Senior Indebtedness of the Issuer held by such Person, the extent to which such
Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under
this ARTICLE 13, and if such evidence is not furnished the Trustee may defer any payment to such Person pending judicial determination
as to the right of such Person to receive such payment.

 

Section 13.06 Trustee’s
Relation to Senior Indebtedness. The Trustee in its individual capacity shall be entitled to all the rights set forth in this
ARTICLE 13 in respect of any Senior Indebtedness of the Issuer at any time held by it, to the same extent as any other holder of
Senior Indebtedness of the Issuer and nothing elsewhere in this Indenture shall deprive the Trustee of any of its rights as such
holder.

 

With respect to the holders
of Senior Indebtedness of the Issuer, the Trustee undertakes to perform or to observe only such of its covenants and obligations
as are specifically set forth in this ARTICLE 13, and no implied covenants or obligations with respect to the holders of Senior
Indebtedness of the Issuer shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Indebtedness of the Issuer and the Trustee shall not be liable to any holder of Senior Indebtedness
of the Issuer if it shall pay over or deliver to holders of Securities, the Issuer or any other Person money or assets to which
any holder of Senior Indebtedness of the Issuer shall be entitled by virtue of this ARTICLE 13 or otherwise.

 

Section 13.07 No Impairment
Of Subordination. No right of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided
shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Issuer or by any act or
failure to act, in good faith, by any such holder, or by any noncompliance by the Issuer with the terms, provisions and covenants
of this Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with.

 

Section 13.08 Rights
Of Trustee. Nothing in this ARTICLE 13 shall apply to claims of or payments to, the Trustee pursuant to Section 5.06.

 

    	-62-

     

    

 

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

 

	COFFEE HOLDING CO., INC., as Issuer	 
	 	 	 
	By:	       	 
	Name:	 	 
	Title:	 	 

 

●, as Trustee   

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    	-63-

     

    

 

FORM OF NOTE

 

UNLESS AND UNTIL IT IS
EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY 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 DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS
THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

 

    	-64-

     

    

 

COFFEE HOLDING CO., INC.

● % Subordinated Note Due ●

 

No. ● CUSIP No.: ●

$ ●

 

COFFEE HOLDING CO., INC.,
a Nevada corporation (“Issuer”, which term includes any successor corporation), for value received promises
to pay to CEDE & CO. or its registered assigns, the principal sum of ● on ●.

 

Interest Payment Dates:
● and ● (each, an “Interest Payment Date”), commencing on ●. Interest Record Dates: ●
and ● (each, an “Interest Record Date”).

 

Reference is made to the
further provisions of this Security contained herein, which will for all purposes have the same effect as if set forth at this
place.

 

    	-65-

     

    

 

IN WITNESS WHEREOF, the
Issuer has caused this Security to be signed manually or by facsimile by its duly authorized officer.

 

COFFEE HOLDING CO., INC.

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

This is one of the series
designated herein and referred to in the within-mentioned Indenture.

 

●, as Trustee  

 

	By:	 	 
	 	Authorized Signatory	 

 

    	-66-

     

    

 

(REVERSE OF SECURITY)

COFFEE HOLDING CO., INC.

●% Subordinated Note Due ●

 

1. Interest.

 

COFFEE HOLDING CO., INC.,
a Nevada corporation (the “Issuer”), promises to pay interest on the Principal amount of this Security at the
rate per annum shown above. Cash interest on the Securities will accrue from the most recent date to which interest has been paid
or, if no interest has been paid, from ●. The Issuer will pay interest semi-annually in arrears on each Interest Payment
Date, commencing ●. Interest will be computed on the basis of a 360-day year of twelve 30-day months.

 

The Issuer shall pay interest
on overdue Principal from time to time on demand at the rate borne by the Securities and on overdue installments of interest (without
regard to any applicable grace periods) to the extent lawful.

 

2. Method of Payment.

 

The Issuer shall pay interest
on the Securities (except defaulted interest) to the persons who are the registered Holders at the close of business on the Interest
Record Date immediately preceding the Interest Payment Date notwithstanding any transfer or exchange of such Security subsequent
to such Interest Record Date and prior to such Interest Payment Date. Holders must surrender Securities to the Trustee to collect
Principal payments. The Issuer shall pay Principal and interest in money of the United States that at the time of payment is legal
tender for payment of public and private debts (“U.S. Legal Tender”). However, the payments of interest, and
any portion of the Principal (other than interest payable at maturity or on any redemption or repayment date or the final payment
of Principal) shall be made by the Paying Agent, upon receipt from the Issuer of immediately available funds by 11:00 a.m., New
York City time (or such other time as may be agreed to between the Issuer and the Paying Agent or the Issuer), directly to a Holder
(by Federal funds wire transfer or otherwise) if the Holder has delivered written instructions to the Trustee 15 days prior to
such payment date requesting that such payment will be so made and designating the bank account to which such payments shall be
so made and in the case of payments of Principal surrenders the same to the Trustee in exchange for a Security or Securities aggregating
the same principal amount as the unredeemed Principal amount of the Securities surrendered.

 

3. Paying Agent.

 

Initially, ● (the
“Trustee”) will act as Paying Agent. The Issuer may change any Paying Agent without notice to the Holders.

 

4. Indenture.

 

The Issuer issued the Securities
under an Indenture, dated as of ● (the “Indenture”), between the Issuer and the Trustee. Capitalized terms
herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities include those stated in
the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb)
(the “TIA”), as in effect on the date of the Indenture until such time as the Indenture is qualified under the
TIA, and thereafter as in effect on the date on which the Indenture is qualified under the TIA. Notwithstanding anything to the
contrary herein, the Securities are subject to all such terms, and Holders of Securities are referred to the Indenture and the
TIA for a statement of them. To the extent the terms of the Indenture and this Security are inconsistent, the terms of the Indenture
shall govern.

 

    	-67-

     

    

 

5. Subordination.

 

The indebtedness of the
Issuer evidenced by this Security, including the Principal hereof and interest hereon, is, to the extent and in the manner set
forth in the Indenture, subordinate and junior in right of payment to the Company’s obligations to holders of Senior Indebtedness
of the Issuer and each Holder of this Security, by acceptance hereof, agrees to and shall be bound by such provisions of the Indenture
and all other provisions of the Indenture.

 

6. Denominations; Transfer;
Exchange.

 

The Securities are in registered
form, without coupons, in denominations of $1,000 and multiples of $1,000. A Holder shall register the transfer of or exchange
Securities in accordance with the Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted
by the Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Securities or portions thereof
for a period of fifteen (15) days before such series is selected for redemption, nor need the Issuer register the transfer or exchange
of any security selected for redemption in whole or in part.

 

7. Persons Deemed Owners.

 

The registered Holder of
a Security shall be treated as the owner of it for all purposes.

 

8. Unclaimed Funds.

 

If funds for the payment
of Principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the Issuer at
its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.

 

9. Legal Defeasance
and Covenant Defeasance.

 

The Issuer may be discharged
from its obligations under the Securities and under the Indenture with respect to the Securities except for certain provisions
thereof, and may be discharged from obligations to comply with certain covenants contained in the Securities and in the Indenture
with respect to the Securities, in each case upon satisfaction of certain conditions specified in the Indenture.

 

    	-68-

     

    

 

10. Amendment; Supplement;
Waiver.

 

Subject to certain exceptions,
the Securities and the provisions of the Indenture relating to the Securities may be amended or supplemented with the written consent
of the Holders of at least a majority in aggregate Principal amount of the Securities then outstanding, and any existing Default
or Event of Default or compliance with certain provisions may be waived with the consent of the Holders of a majority in aggregate
Principal amount of the Securities then outstanding. Without notice to or consent of any Holder, the parties thereto may amend
or supplement the Indenture and the Securities to, among other things, cure any ambiguity, defect or inconsistency, provide for
uncertificated Securities in addition to or in place of certificated Securities or comply with any requirements of the Commission
in connection with the qualification of the Indenture under the Trust Indenture Act, or make any other change that does not adversely
affect the rights of any Holder of a Security.

 

11. Defaults and Remedies.

 

If an Event of Default
(other than certain bankruptcy Events of Default with respect to the Issuer) occurs and is continuing, the Trustee or the Holders
of at least 25% in aggregate Principal amount of Securities then outstanding may declare all of the Securities to be due and payable
immediately in the manner and with the effect provided in the Indenture. If a bankruptcy Event of Default with respect to the Issuer
occurs and is continuing, all the Securities shall be immediately due and payable immediately in the manner and with the effect
provided in the Indenture without any notice or other action on the part of the Trustee or any Holder. Holders of Securities may
not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture
or the Securities unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein
provided, Holders of a majority in aggregate Principal amount of the Securities then outstanding to direct the Trustee in its exercise
of any trust or power. The Trustee may withhold from Holders of Securities notice of certain continuing Defaults or Events of Default
if it determines that withholding notice is in their interest.

 

12. Conversion.

 

Reference is made to the
Indenture, including, without limitation, provisions giving the Holder of this Security the right to convert this Security into
Capital Stock of the Issuer on the terms and subject to the limitations as more fully specified in the Indenture. The initial conversion
rate for this Security is ●. This conversion rate is subject to modification as provided in the Indenture. Such further provisions
shall for all purposes have the same effect as though fully set forth at this place.

 

13. Trustee Dealings
with Issuer.

 

The Trustee under the Indenture,
in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with the Issuer as
if it were not the Trustee.

 

14. No Recourse Against
Others.

 

No stockholder, director,
officer, employee or incorporator, as such, of the Issuer or any successor Person thereof shall have any liability for any obligation
under the Securities or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation.
Each Holder of a Security by accepting a Security waives and releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities.

 

15. Authentication.

 

This Security shall not
be valid until the Trustee manually signs the certificate of authentication on this Security.

 

    	-69-

     

    

 

16. Abbreviations and
Defined Terms.

 

Customary abbreviations
may be used in the name of a Holder of a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by
the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A
(= Uniform Gifts to Minors Act).

 

17. CUSIP Numbers.

 

Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on
the Securities as a convenience to the Holders of the Securities. No representation is made as to the accuracy of such numbers
as printed on the Securities and reliance may be placed only on the other identification numbers printed hereon.

 

18. Governing Law.

 

The laws of the State of
New York shall govern the Indenture and this Security thereof.

 

    	-70-

     

    

 

ASSIGNMENT FORM

 

	I or we assign and transfer this Security to
	(Print or type name, address and zip code of assignee or transferee)
	(Insert Social Security or other identifying number of assignee or transferee)

 

and irrevocably appoint ___________________ agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him.

 

	Dated:	 	Signed: (Signed exactly as name appears on the other side of this Security)

 

	Signature Guarantee:	 	 
	 	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

 

    	-71-EX-4.9

 Exhibit 4.9 

Western Digital Corporation, 
 as
the Company, 
 the GUARANTORS listed on the signature pages hereto, 

as Guarantors, 
 and 

U.S. Bank National Association, 

as Trustee 
  

 
 INDENTURE 

 
  

Dated as of [●], 2018 
  

 
 [●]%
Senior Notes due 2026 

 CROSS-REFERENCE TABLE 

 

			
	 TIA Section
	  	 Indenture Section

	310 (a)(1)	  	7.10
	       (a)(2)	  	7.10
	       (a)(3)	  	N.A.
	       (a)(4)	  	N.A.
	       (a)(5)	  	7.08; 7.10
	       (b)	  	7.08; 7.10; 12.02
	       (c)	  	N.A.
	311 (a)	  	7.11
	       (b)	  	7.11
	       (c)	  	N.A.
	312 (a)	  	2.05
	       (b)	  	12.03
	       (c)	  	12.03
	313 (a)	  	7.06
	       (b)(1)	  	7.06
	       (b)(2)	  	7.06
	       (c)	  	7.06; 12.02
	       (d)	  	7.06
	314 (a)	  	4.06; 4.14; 12.02
	       (b)	  	N.A.
	       (c)(1)	  	7.02; 12.04; 12.05
	       (c)(2)	  	7.02; 12.04; 12.05
	       (c)(3)	  	N.A.
	       (d)	  	N.A.
	       (e)	  	12.05
	       (f)	  	N.A.
	315 (a)	  	7.01(b)
	       (b)	  	7.05
	       (c)	  	7.01
	       (d)	  	6.05; 7.01(c)
	       (e)	  	6.11
	316 (a)(last sentence)	  	2.09
	       (a)(1)(A)	  	6.02
	       (a)(1)(B)	  	6.04
	       (a)(2)	  	9.02
	       (b)	  	6.07
	       (c)	  	9.05
	317 (a)(1)	  	6.08
	       (a)(2)	  	6.09
	       (b)	  	2.04
	318 (a)	  	12.01
	       (c)	  	12.01

  
 N.A. means
Not Applicable 
 Note: This Cross-Reference Table shall not, for any purpose, be deemed to be a part of this Indenture. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE ONE	 
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	 
			
	SECTION 1.01.	  	Definitions.	  	 	1	 
	SECTION 1.02.	  	Other Definitions.	  	 	16	 
	SECTION 1.03.	  	Incorporation by Reference of TIA.	  	 	16	 
	SECTION 1.04.	  	Rules of Construction.	  	 	16	 
	
	ARTICLE TWO	 
	
	THE NOTES	 
			
	SECTION 2.01.	  	Form and Dating.	  	 	17	 
	SECTION 2.02.	  	Execution and Authentication.	  	 	17	 
	SECTION 2.03.	  	Registrar and Paying Agent.	  	 	18	 
	SECTION 2.04.	  	Paying Agent To Hold Money in Trust.	  	 	18	 
	SECTION 2.05.	  	Holder Lists.	  	 	19	 
	SECTION 2.06.	  	Transfer and Exchange.	  	 	19	 
	SECTION 2.07.	  	Replacement Notes.	  	 	19	 
	SECTION 2.08.	  	Outstanding Notes.	  	 	20	 
	SECTION 2.09.	  	Treasury Notes.	  	 	20	 
	SECTION 2.10.	  	Temporary Notes.	  	 	20	 
	SECTION 2.11.	  	Cancellation.	  	 	20	 
	SECTION 2.12.	  	Defaulted Interest.	  	 	20	 
	SECTION 2.13.	  	CUSIP Numbers, ISINs, etc.	  	 	21	 
	SECTION 2.14.	  	Deposit of Moneys.	  	 	21	 
	SECTION 2.15.	  	Book-Entry Provisions for Global Notes.	  	 	21	 
	
	ARTICLE THREE	 
	
	REDEMPTION	 
			
	SECTION 3.01.	  	Notices to Trustee.	  	 	22	 
	SECTION 3.02.	  	Selection of Notes to be Redeemed.	  	 	22	 
	SECTION 3.03.	  	Notice of Redemption.	  	 	23	 
	SECTION 3.04.	  	Effect of Notice of Redemption.	  	 	24	 
	SECTION 3.05.	  	Deposit of Redemption Price.	  	 	25	 
	SECTION 3.06.	  	Notes Redeemed in Part.	  	 	25	 
	SECTION 3.07.	  	Conditions to Redemption; Delay of Redemption Date.	  	 	25	 
	
	ARTICLE FOUR	 
	
	COVENANTS	 
			
	SECTION 4.01.	  	Payment of Notes.	  	 	26	 
	SECTION 4.02.	  	Maintenance of Office or Agency.	  	 	26	 
	SECTION 4.03.	  	Corporate Existence.	  	 	26	 
	SECTION 4.04.	  	Payment of Taxes and Other Claims.	  	 	27	 
	SECTION 4.05.	  	[Intentionally Omitted.]	  	 	27	 
	SECTION 4.06.	  	Compliance Certificate; Notice of Default.	  	 	27	 

  
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	 	  	 	  	Page	 
	SECTION 4.07.	  	[Reserved].	  	 	27	 
	SECTION 4.08.	  	Waiver of Stay, Extension or Usury Laws.	  	 	27	 
	SECTION 4.09.	  	Change of Control Triggering Event.	  	 	27	 
	SECTION 4.10.	  	[Reserved].	  	 	29	 
	SECTION 4.11.	  	Limitation on Non-Guarantor Subsidiary Debt.	  	 	29	 
	SECTION 4.12.	  	Limitation on Sale/Leaseback Transactions.	  	 	30	 
	SECTION 4.13.	  	Limitation on Liens.	  	 	31	 
	SECTION 4.14.	  	SEC Reports.	  	 	33	 
	
	ARTICLE FIVE	 
	
	MERGER AND CONSOLIDATION	 
			
	SECTION 5.01.	  	Consolidation, Merger, Sale or Conveyance.	  	 	33	 
	
	ARTICLE SIX	 
	
	DEFAULT AND REMEDIES	 
			
	SECTION 6.01.	  	Events of Default.	  	 	34	 
	SECTION 6.02.	  	Acceleration.	  	 	35	 
	SECTION 6.03.	  	Other Remedies.	  	 	36	 
	SECTION 6.04.	  	Waiver of Past Defaults.	  	 	36	 
	SECTION 6.05.	  	Control by Majority.	  	 	36	 
	SECTION 6.06.	  	Limitation on Suits.	  	 	37	 
	SECTION 6.07.	  	Rights of Holders To Receive Payment.	  	 	37	 
	SECTION 6.08.	  	Collection Suit by Trustee.	  	 	37	 
	SECTION 6.09.	  	Trustee May File Proofs of Claim.	  	 	37	 
	SECTION 6.10.	  	Priorities.	  	 	38	 
	SECTION 6.11.	  	Undertaking for Costs.	  	 	38	 
	
	ARTICLE SEVEN	 
	
	TRUSTEE	 
			
	SECTION 7.01.	  	Duties of Trustee.	  	 	38	 
	SECTION 7.02.	  	Rights of Trustee.	  	 	39	 
	SECTION 7.03.	  	Individual Rights of Trustee.	  	 	40	 
	SECTION 7.04.	  	Trustee’s Disclaimer.	  	 	40	 
	SECTION 7.05.	  	Notice of Default.	  	 	40	 
	SECTION 7.06.	  	Reports by Trustee to Holders.	  	 	41	 
	SECTION 7.07.	  	Compensation and Indemnity.	  	 	41	 
	SECTION 7.08.	  	Replacement of Trustee.	  	 	42	 
	SECTION 7.09.	  	Successor Trustee by Merger, Etc.	  	 	42	 
	SECTION 7.10.	  	Eligibility; Disqualification.	  	 	43	 
	SECTION 7.11.	  	Preferential Collection of Claims Against the Company.	  	 	43	 
	
	ARTICLE EIGHT	 
	
	DISCHARGE OF INDENTURE; DEFEASANCE	 
			
	SECTION 8.01.	  	Termination of the Company’s and Guarantors’ Obligations.	  	 	43	 
	SECTION 8.02.	  	Legal Defeasance and Covenant Defeasance.	  	 	44	 
	SECTION 8.03.	  	Conditions to Legal Defeasance or Covenant Defeasance.	  	 	44	 
	SECTION 8.04.	  	Application of Trust Money.	  	 	45	 
	SECTION 8.05.	  	Repayment to the Company.	  	 	46	 

  
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	 	  	 	  	Page	 
	SECTION 8.06.	  	Reinstatement.	  	 	46	 
	
	ARTICLE NINE	 
	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS	 
			
	SECTION 9.01.	  	Without Consent of Holders.	  	 	46	 
	SECTION 9.02.	  	With Consent of Holders.	  	 	47	 
	SECTION 9.03.	  	[Intentionally Omitted].	  	 	48	 
	SECTION 9.04.	  	Compliance with TIA.	  	 	48	 
	SECTION 9.05.	  	Revocation and Effect of Consents.	  	 	48	 
	SECTION 9.06.	  	Notation on or Exchange of Notes.	  	 	48	 
	SECTION 9.07.	  	Trustee To Sign Amendments, Etc.	  	 	49	 
	
	ARTICLE TEN	 
	
	[INTENTIONALLY OMITTED]	 
	
	ARTICLE ELEVEN	 
	
	NOTE GUARANTEE	 
			
	SECTION 11.01.	  	Unconditional Guarantee.	  	 	49	 
	SECTION 11.02.	  	[Intentionally Omitted].	  	 	50	 
	SECTION 11.03.	  	Limitation on Guarantor Liability.	  	 	50	 
	SECTION 11.04.	  	[Reserved].	  	 	50	 
	SECTION 11.05.	  	Release of a Guarantor.	  	 	50	 
	SECTION 11.06.	  	Waiver of Subrogation.	  	 	51	 
	SECTION 11.07.	  	[Reserved].	  	 	51	 
	SECTION 11.08.	  	No Set Off.	  	 	51	 
	SECTION 11.09.	  	[Reserved]	  	 	51	 
	SECTION 11.10.	  	Guarantee Obligations Continuing.	  	 	51	 
	SECTION 11.11.	  	Guarantee Obligations Not Reduced.	  	 	51	 
	SECTION 11.12.	  	Guarantee Obligations Reinstated.	  	 	52	 
	SECTION 11.13.	  	Guarantee Obligations Not Affected.	  	 	52	 
	SECTION 11.14.	  	Waiver.	  	 	53	 
	SECTION 11.15.	  	No Obligation To Take Action Against the Company.	  	 	53	 
	SECTION 11.16.	  	Dealing with the Company and Others.	  	 	53	 
	SECTION 11.17.	  	Default and Enforcement.	  	 	53	 
	SECTION 11.18.	  	Amendment, Etc.	  	 	54	 
	SECTION 11.19.	  	Costs and Expenses.	  	 	54	 
	SECTION 11.20.	  	No Merger or Waiver; Cumulative Remedies.	  	 	54	 
	
	ARTICLE TWELVE	 
	
	MISCELLANEOUS	 
			
	SECTION 12.01.	  	TIA Controls.	  	 	55	 
	SECTION 12.02.	  	Notices.	  	 	55	 
	SECTION 12.03.	  	Communications by Holders with Other Holders.	  	 	56	 
	SECTION 12.04.	  	Certificate and Opinion as to Conditions Precedent.	  	 	56	 
	SECTION 12.05.	  	Statements Required in Certificate or Opinion.	  	 	56	 

  
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	 	  	 	  	Page	 
	SECTION 12.06.	  	Rules by Trustee, Paying Agent, Registrar.	  	 	56	 
	SECTION 12.07.	  	Legal Holidays.	  	 	56	 
	SECTION 12.08.	  	Governing Law; Waiver of Jury Trial.	  	 	57	 
	SECTION 12.09.	  	No Adverse Interpretation of Other Agreements.	  	 	57	 
	SECTION 12.10.	  	No Recourse Against Others.	  	 	57	 
	SECTION 12.11.	  	Successors.	  	 	57	 
	SECTION 12.12.	  	Duplicate Originals.	  	 	57	 
	SECTION 12.13.	  	Severability.	  	 	57	 
	SECTION 12.14.	  	USA PATRIOT Act.	  	 	57	 
	SECTION 12.15.	  	Force Majeure.	  	 	57	 
		
	Signatures	  	 	S-1	 

					
			
	Exhibit A	  	—	  	Form of Note
	Exhibit B	  	—	  	Form of Legends

  
 Note: This
Table of Contents shall not, for any purpose, be deemed to be part of this Indenture. 

  
 -iv- 

 INDENTURE dated as of [●], 2018 among WESTERN DIGITAL CORPORATION, a Delaware
corporation (the “Company”), as issuer, and each of the Guarantors listed on the signature pages hereto, as Guarantors, and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized under the laws of the United States
of America, as Trustee (the “Trustee”). 
 The Company has duly authorized the creation of an issue of [●]% Senior
Notes due 2026, and, to provide therefor, the Company has duly authorized the execution and delivery of this Indenture. All things necessary to make the Notes, when duly issued and executed by the Company and authenticated and delivered hereunder,
the valid and binding obligations of the Company and to make this Indenture a valid and binding agreement of the Company have been done. 

Each party hereto agrees as follows for the benefit of each other party and for the equal and ratable benefit of the holders of the Notes:

 ARTICLE ONE 
 DEFINITIONS AND
INCORPORATION BY REFERENCE 
 SECTION 1.01. Definitions. 

Set forth below are certain defined terms used in this Indenture. 

“2024 Unsecured Notes” means the 10.500% Senior Unsecured Notes of the Company due 2024 (including any exchange notes issued
in exchange for the 10.500% Senior Unsecured Notes of the Company due 2024 originally issued on the Existing Notes Issue Date). 

“2023 Secured Notes” means the 7.375% Senior Secured Notes of the Company due 2023. 

“Acquisition Transaction” means: 

(1) an acquisition by the Company or a Subsidiary of a business or of assets constituting a business unit, line of business or
business division of another Person, from a Person other than the Company or its Subsidiaries that will be owned and operated by the Company and its Subsidiaries, 

(2) an acquisition of Capital Stock of a Person that becomes a Subsidiary as a result of such acquisition, 

(3) an acquisition of Capital Stock of a Subsidiary that constitutes an increase in the aggregate percentage of the Capital
Stock of such Subsidiary owned collectively by the Company and its Subsidiaries, and 
 (4) a merger, amalgamation or
consolidation of the Company or a Subsidiary with or into a Person that is not the Company or a Subsidiary, in which the Company or a Subsidiary is the surviving company or which results in the surviving company becoming a Subsidiary of the Company
or a successor entity. 
 “Additional Notes” means Notes issued after the Issue Date in accordance with this Indenture.

 “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 the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agent” means any Registrar, Paying Agent or co-Registrar. 

 “Attributable Debt” in respect of a Sale/Leaseback Transaction means, as at
the time of determination, the present value (discounted at the interest rate borne by the Notes, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale/ Leaseback
Transaction (including any period for which such lease has been extended) (other than amounts required to be paid on account of property taxes, maintenance, repairs, insurance, water rates and other items which do not constitute payments for
property rights); provided, however, that if such Sale/Leaseback Transaction results in a Capital Lease Obligation, the amount of indebtedness represented thereby will be determined in accordance with the definition of “Capital
Lease Obligation.” 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar Federal, state or foreign law for the
relief of debtors. 
 “Board of Directors” means the Board of Directors of the Company or any committee thereof duly
authorized to act on behalf of such Board of Directors, unless otherwise noted. 
 “Business Day” means each day other than
a Saturday, Sunday or a day on which the Trustee or commercial banking institutions are authorized or required by law to close in New York City or place of payment on the Notes. 

“Capital Lease Obligation” means an obligation that is required to be classified and accounted for as a capital lease for
financial reporting purposes in accordance with GAAP, and the amount of indebtedness represented by such obligation shall be the capitalized amount of such obligation determined 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 terminated by the lessee without payment of a penalty; provided that, notwithstanding the foregoing, in no event
will any lease that would have been categorized as an operating lease as determined with GAAP as of April 13, 2016 be considered a capital lease (whether or not such lease was in effect on such date) regardless of any change in GAAP following
April 13, 2016 that would otherwise require such obligations to be recharacterized (on a prospective or retroactive basis or otherwise) as a capital lease. For purposes of Section 4.13 herein, a Capital Lease Obligation will be
deemed to be secured by a Lien on the property being leased. 
 “Capital Stock” of any Person means any and all shares,
interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including any preferred stock, but excluding any debt securities convertible or exchangeable into
such equity. 
 “Change of Control” means the occurrence of any of the following: 

 

	 	(1)	any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), is or becomes the “beneficial owner” (as defined in Rules
13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; 

 

	 	(2)	the merger or consolidation of the Company with or into another Person or the merger of another Person with or into the Company, or the sale of all or substantially all the assets of the Company (determined on a
consolidated basis) to another Person other than a transaction following which (A) in the case of a merger or consolidation transaction, holders of securities that represented 100% of the Voting Stock of the Company immediately prior to such
transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least 50% of the voting power of the Voting Stock of the surviving Person in such merger or
consolidation transaction immediately after such transaction and (B) in the case of a sale of assets transaction, each transferee becomes an obligor in respect of the Notes and a Subsidiary of the transferor of such assets; or

  

	 	(3)	an event constituting a “change of control” under the indenture governing the 2023 Secured Notes to the extent any of the 2023 Secured Notes are then outstanding. 

  
 -2- 

 Notwithstanding the foregoing: 
  

	 	(a)	a transaction will not be deemed to involve a Change of Control if (x) the Company becomes a direct or indirect wholly-owned Subsidiary of another Person and (y) (i) the shares of the Company’s Voting
Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of such Person immediately after giving effect to such transaction or (ii) immediately following that
transaction, no Person (other than a Person satisfying the requirements of this clause) is the beneficial owner, directly or indirectly, of more than 50% of the voting power of the Voting Stock of such Person, and 

 

	 	(b)	the entry into one or more agreements that, upon consummation of the transactions contemplated thereon would constitute a Change of Control, do not constitute a Change of Control until such consummation.

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

 “Charges” means any charge, expense, cost, accrual or reserve of any kind. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Common Stock” shall mean the common shares or other equivalents or interests in (however designated) equity of the Company
or any direct or indirect parent company. 
 “Company” means the Person identified as such in the Preamble hereto, until a
successor Person shall have replaced the Company as obligor on the Notes pursuant to the applicable provisions of this Indenture, and thereafter means such successor Person. 

“Consolidated Interest Expense” means, for any period, the total interest expense of the Company and its Subsidiaries
calculated on a consolidated basis in accordance with GAAP (other than non-cash interest expense attributable to convertible indebtedness under Accounting Practices Bulletin
14-1 or any successor provision and amortization of debt issuance costs), plus, to the extent not included in such total interest expense, and to the extent incurred by the Company or its Subsidiaries, without
duplication: 
 (1) interest expense attributable to Capital Lease Obligations, the interest portion of rent expense
associated with Attributable Debt in respect of the relevant lease giving rise thereto, determined as if such lease were a capitalized lease in accordance with GAAP, and the interest component of any deferred payment obligations; 

(2) amortization of debt discount (including the amortization of original issue discount resulting from the issuance of
indebtedness at less than par); provided, however, that any amortization of bond premium will be credited to reduce Consolidated Interest Expense unless, pursuant to GAAP, such amortization of bond premium has otherwise reduced
Consolidated Interest Expense; 
 (3) capitalized interest; 

(4) non-cash interest expense; provided, however, that any non-cash interest expense or income attributable to the movement in the mark to market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP shall be excluded from the calculation of
Consolidated Interest Expense); 
 (5) commissions, discounts and other fees and charges owed with respect to letters of
credit and bankers’ acceptance financing; 
 (6) net cash payments pursuant to Hedging Obligations; 

  
 -3- 

 (7) the product of (a) all dividends accrued in respect of all
Disqualified Stock of the Company and all preferred stock of any Subsidiary, in each case, held by Persons other than the Company or a Subsidiary (other than dividends payable solely in Capital Stock (other than Disqualified Stock) of the Company),
times (b) a fraction of the numerator of which is one and the denominator of which is one minus the effective combined tax rate of the Company of such Disqualified Stock or preferred stock (expressed as a decimal) for such period (as estimated
by the chief financial officer of the Company in good faith); and 
 (8) solely to the extent it would be included in the
total interest expense of the Company calculated on a consolidated basis in accordance with GAAP, interest accruing on any indebtedness of any other Person to the extent such indebtedness is guaranteed by (or secured by a Lien on the assets of) the
Company or any Subsidiary. 
 “Consolidated Net Income” means, for any period, the net income (loss) attributable to the
Company and its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP, excluding, without duplication, (a) the cumulative effect of a change in accounting principles during such period to the extent included in
net income (loss), (b) accruals and reserves that are established or adjusted as a result of the Transactions in accordance with GAAP or changes as a result of the adoption or modification of accounting policies during such period, (c) the
income (or loss) of any Person in which any other Person has an ownership interest other than a Subsidiary, except to the extent of the amount of dividends or other distributions actually paid to the Company or any of its Subsidiaries by such Person
during such period, (d) the income of any Subsidiary of the Company (other than any Guarantor) to the extent that the declaration or payment of dividends or similar distributions by that Subsidiary of that income is subject to an absolute
prohibition during such period by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary (other than any prohibition that has been waived or
otherwise released), except to the extent of the amount of dividends or other distributions actually paid by such Subsidiary to the Company or any other Subsidiary that is not subject to such prohibitions, (e) the income (or loss) of any Person
accrued prior to the date it becomes a Subsidiary of the Company or is merged into or consolidated with the Company or any of its Subsidiaries or that Person’s assets are acquired by the Company or any of its Subsidiaries (except as provided in
the pro forma adjustment provisions set forth in the definition of “Consolidated Priority Debt Ratio”), (f) after tax gains or Charges (less all fees and expenses chargeable thereto) attributable to any asset dispositions outside
the ordinary course of business (including asset retirement costs) or of returned surplus assets of any employee benefit plan, (g) any net gains or Charges with respect to (i) disposed, abandoned, divested and/or discontinued assets,
properties or operations (other than assets, properties or operations pending the disposal, abandonment, divestiture and/or termination thereof) and (ii) facilities that have been closed during such period, (h) any net income or loss (less
all fees and expenses or Charges related thereto) attributable to the early extinguishment of indebtedness, Hedging Obligations or other derivative instruments and (i) any write-off or amortization made
in such period of deferred financing costs and premiums paid or other expenses incurred directly in connection with any early extinguishment of indebtedness, (j) any impairment Charge or asset write-off
or write-down, or asset write-up, related to intangible assets (including goodwill), long-lived assets and Investments in debt and equity securities, (k) Non-Cash
Compensation Expenses, (l) any unrealized gains and losses from Hedging Obligations or from the application of Accounting Standards Codification Topic 815, Derivatives and Hedging, or any comparable regulation, (m) adjustments attributable
to the application of recapitalization or acquisition accounting in relation to any consummated Acquisition Transaction, (n) any Charges (other than depreciation or amortization expense) related to any equity offering, investment, acquisition,
disposition, recapitalization or the incurrence or repayment of indebtedness (including a refinancing or amendment, waiver or other modification thereof) (whether or not successful), (o) (A) extraordinary Charges and (B) unusual or
nonrecurring Charges, (p) all cash and Non-Cash Charges and expenses incurred before the Issue Date with respect to the Seagate Arbitration to the extent that the aggregate amount of all such Charges and
expenses do not exceed $32 million, (q) transaction fees, costs and expenses incurred to the extent reimbursable by third parties pursuant to indemnification provisions or insurance; provided that the Company in good faith expects
to receive reimbursement for such fees, costs and expenses within the next four (4) fiscal quarters (it being understood that to the extent not actually received within such fiscal quarters, such reimbursement amounts shall be deducted in
calculating Consolidated Net Income at the end of such four fiscal quarter period), (r) casualty or business interruption insurance in an amount representing the losses for the applicable period that such proceeds are intended to replace (whether or
not yet received so long as the Company in good faith expects to receive the same within the next four (4) fiscal quarters (it being understood that to the extent not actually received within such fiscal quarters, such

  
 -4- 

 
proceeds shall be deducted in calculating Consolidated Net Income for such fiscal quarters in the future)) and (s) any net gain or loss resulting in such period from currency translation
gains or losses related to currency remeasurements of indebtedness (including any net loss or gain resulting from hedge agreements for currency exchange risk). 

“Consolidated Priority Debt” means, as of any date of determination, an aggregate amount equal to (without
duplication) (x) the aggregate principal amount of Debt as of such date that is then secured by Liens on Property of the Company or any Subsidiary (including all Attributable Debt) plus (y) all outstanding Non-Guarantor Subsidiary Debt as of such date; provided that the following shall be excluded from calculating such aggregate amount: (i) any Debt (or any guarantee thereof) secured by Liens described in
Sections 4.13(5) and (9)(x) and (ii) any Non-Guarantor Subsidiary Debt described in Section 4.11(5). 

“Consolidated Priority Debt Ratio” means, as of any date of determination the ratio of (a) Consolidated Priority
Debt to (b) the aggregate amount of EBITDA for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available; provided, however, that: 

(1) if the Company or any Subsidiary has incurred any Debt since the beginning of such period that remains outstanding or if
the transaction giving rise to the need to calculate the Consolidated Priority Debt Ratio is an incurrence of Debt, or both, EBITDA and Consolidated Priority Debt for such period shall be calculated after giving effect on a pro forma basis to
such Debt as if such Debt had been incurred on the first day of such period; 
 (2) if the Company or any Subsidiary has
repaid, repurchased, redeemed, defeased or otherwise discharged any Debt since the beginning of such period or if any Debt is to be repaid, repurchased, defeased or otherwise discharged (in each case other than Debt incurred under any revolving
credit facility unless such indebtedness has been permanently repaid and has not been replaced) on the date of the transaction giving rise to the need to calculate the Consolidated Priority Debt Ratio, EBITDA and Consolidated Priority Debt for such
period shall be calculated on a pro forma basis as if such discharge had occurred on the first day of such period and as if the Company or such Subsidiary had not earned the interest income actually earned during such period in respect of
cash or cash equivalents used to repay, repurchase, defease or otherwise discharge such Debt; 
 (3) if since the beginning
of such period the Company or any Subsidiary shall have made any asset disposition, EBITDA for such period shall be reduced by an amount equal to EBITDA (if positive) directly attributable to the assets which are the subject of such asset
disposition for such period, or increased by an amount equal to EBITDA (if negative), directly attributable thereto for such period; 

(4) if since the beginning of such period the Company or any Subsidiary (by merger or otherwise) shall have made an investment
in any Subsidiary (or any Person which becomes a Subsidiary) or an acquisition of assets, including any acquisition of assets occurring in connection with a transaction requiring a calculation to be made hereunder, which constitutes all or
substantially all of an operating unit of a business, EBITDA and Consolidated Priority Debt for such period shall be calculated after giving pro forma effect thereto (including the incurrence of any Debt) as if such investment or acquisition
had occurred on the first day of such period; 
 (5) if since the beginning of such period any Person (that subsequently
became a Subsidiary or was merged with or into the Company or any Subsidiary since the beginning of such period) shall have made any asset disposition, any investment or acquisition of assets that would have required an adjustment pursuant to clause
(3) or (4) above if made by the Company or a Subsidiary during such period, EBITDA and Consolidated Priority Debt for such period shall be calculated after giving pro forma effect thereto as if such asset disposition, investment or
acquisition had occurred on the first day of such period; and 
 (6) for purposes of calculating the amount under clause (1)
above on any date of determination, amounts of revolving credit indebtedness committed pursuant to the Credit Agreement or any Credit 

  
 -5- 

 
Facility that may be incurred by the Company or its Subsidiaries and which, upon incurrence, will be secured by a Lien, may at the Company’s election (as evidenced by an Officer’s
Certificate) be deemed to be outstanding at all times and subsequent borrowings, reborrowings, renewals, replacements and extensions of such revolving credit indebtedness, up to such maximum committed amount, shall not be deemed additional
incurrences of Debt requiring calculations under this definition (but subsequent incremental borrowings in connection with increases in such maximum committed amount shall require calculations under this definition or shall otherwise comply with
Section 4.13). 
 For purposes of this definition, whenever pro forma effect is to be given to an Acquisition Transaction or
disposition of assets, the amount of income, earnings or EBITDA relating thereto and the amount of Consolidated Priority Debt incurred in connection therewith, the pro forma calculations shall be determined in good faith by a responsible
financial or accounting Officer of the Company. If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such indebtedness shall be calculated as if the rate in effect on the date of
determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such indebtedness if such Interest Rate Agreement has a remaining term in excess of 12 months). If any Debt is incurred
under a revolving credit facility and is being given pro forma effect, the interest on such Debt shall be calculated based on the average daily balance of such Debt for the four fiscal quarters subject to the pro forma calculation to
the extent that such Debt was incurred solely for working capital purposes. 
 “Corporate Trust Office” means the corporate
trust office of the Trustee located at U.S. Bank National Association, 633 West Fifth Street, 24th Floor, Los Angeles, CA 90071; Attention: P. Oswald (Western Digital Corporation Senior Notes due
2026), or such other office, designated by the Trustee by written notice to the Company, at which at any particular time this Indenture shall be administered. 

“Credit Agreement” means that certain Credit Agreement dated as of April 13, 2016 (as further amended, amended
and restated, supplemented or otherwise modified from time to time), among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, including any related notes, guarantees, collateral documents, instruments and
agreements executed in connection therewith and any agreement (and related document) governing Debt incurred to Refinance, in whole or in part, the borrowings and commitments then outstanding or permitted to be outstanding under the Credit Agreement
or a successor Credit Agreement. 
 “Credit Facilities” means (a) one or more debt facilities (including the
Credit Agreement or any other credit facility), commercial paper facilities, securities purchase agreements, indentures, fiscal agency agreements, any letter of credit facility or similar agreements or any other financing agreement or arrangement,
in each case, with agents, banks or other lenders, investors, trustees or fiscal agents providing for revolving loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to
borrow from lenders against such receivables) letters of credit, the issuance of securities or other long-term indebtedness, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith,
and (b) any amendments, restatements, replacements (whether upon or after termination or otherwise), refinancings, refundings, supplements, modifications, extensions, renewals or other modifications thereof (in whole or in part, and without
limitation as to amount, terms, conditions, covenants and other provisions) from time to time, including any one or more of the foregoing that increases the amount permitted to be borrowed or issued thereunder or alters the maturity thereof
(provided that any such increase in borrowings or issuances is permitted under Section 4.13 herein) or that add additional borrowers or guarantors thereunder, and whether with the same or any other agent, trustee, fiscal agent, lender,
investor, holder or group of agents, trustees, fiscal agents, lenders, investors or holders. 
 “Currency Agreement” means
any foreign exchange contract, currency swap agreement or other similar agreement with respect to currency values. 

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

 “Debt” means any indebtedness for borrowed money. For the avoidance of doubt, Debt only includes indebtedness for
the repayment of money borrowed, and does not include any other kind of indebtedness or obligation notwithstanding that such other indebtedness or obligation may be evidenced by a note, bond, debenture or other

  
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similar instrument, may be in the nature of a financing transaction, or may be an obligation that under GAAP is classified as “debt” or another type of liability, whether required to be
reflected on the balance sheet of the obligor or otherwise. Notwithstanding the foregoing, the term “Debt” excludes any indebtedness of the Company or any of the Company’s Subsidiaries owing to the Company or a Subsidiary of the
Company. 
 “Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

 “Depository” means The Depository Trust Company, New York, New York, or a successor thereto registered under the
Exchange Act or other applicable statute or regulation. 
 “Disqualified Stock” means, with respect to any Person, any
Capital Stock which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable at the option of the holder) or upon the happening of any event: 

(1) matures (excluding any maturities as a result of an optional redemption by the issuer thereof) or is mandatorily redeemable
(other than redeemable only for Capital Stock of such Person which is not itself Disqualified Stock) pursuant to a sinking fund obligation or otherwise; 

(2) is convertible or exchangeable at the option of the holder for indebtedness or Disqualified Stock; or 

(3) is mandatorily redeemable or must be purchased upon the occurrence of certain events or otherwise, in whole or in part;

 in each case on or prior to the day that is 91 days after the earlier of the Stated Maturity of the Notes or the date the Notes are no longer
outstanding; provided, however, that (x) only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable prior to such date will be deemed to be Disqualified
Stock and (y) if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock
solely because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy obligations as a result of such employee’s death or disability; provided, further, however, that any Capital Stock
that would not constitute Disqualified Stock but for provisions thereof giving holders thereof the right to require such Person to purchase or redeem such Capital Stock upon the occurrence of a “change of control” occurring on or prior to
91 days after the Stated Maturity of the Notes shall not constitute Disqualified Stock if: 
 (1) the “change of
control” provisions applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than the terms applicable to the Notes and described under Section 4.09; and 

(2) any such requirement only becomes operative after compliance with such terms applicable to the Notes, including the
purchase of any Notes tendered pursuant thereto. 
 “EBITDA” means, for any period, the Consolidated Net Income for such
period, plus 
 (a) without duplication and to the extent already deducted (and not added back) in arriving at such
Consolidated Net Income (other than in the case of clause (vii) below), the sum of the following amounts for such period: 
  

	 	(i)	Consolidated Interest Expense; 

  

	 	(ii)	provision for taxes based on income, profits or capital, including federal, foreign, state, franchise, excise and similar taxes paid or accrued during such period (including in respect of repatriated funds);

  
 -7- 

	 	(iii)	depreciation and amortization, including amortization of intangible assets established through purchase accounting and amortization of deferred financing fees or costs; 

 

	 	(iv)	Non-Cash Charges; 

  

	 	(v)	Charges attributable to the undertaking and/or implementation of cost savings initiatives, operating expense reductions and other restructuring, integration or transformational Charges (including inventory optimization
expenses, business optimization expenses, transaction costs, costs related to the opening, closure, consolidation or separation of facilities and curtailments, costs related to entry into new markets, consulting fees, recruiter fees, signing costs,
retention or completion bonuses, transition costs, relocation costs, severance payments, and modifications to pension and post-retirement employee benefit plans); provided that amounts added back pursuant to this clause (v), together with any
amounts added back pursuant to clause (vii) below and the amount of any Pro Forma Adjustment to EBITDA for such period, shall not exceed the greater of $500 million and 15% of EBITDA for such period (calculated prior to giving effect to
any such add-back); provided further that Charges relating to the Transactions and up to $800 million of the foregoing in connection with the MOFCOM Restructuring, in each case, added back to
EBITDA pursuant to this clause (v) for any period ending on or prior to the 24th month following the Existing Notes Issue Date shall not be subject to the caps in the preceding proviso; 

 

	 	(vi)	the amount of any minority interest expense consisting of subsidiary income attributable to minority equity interests of third parties in any non-wholly owned Subsidiary;

  

	 	(vii)	expected cost savings, operating expense reductions, restructuring Charges and expenses and synergies (net of the amount of actual amounts realized) reasonably identifiable and factually supportable and reasonably
anticipated to be realized within 18 months of the date thereof (in the good faith determination of the Company) related to permitted asset sales, acquisitions, investments, dispositions, operating improvements, restructurings, cost savings
initiatives and certain other similar initiatives conducted after the Existing Notes Issue Date; provided that amounts added back pursuant to this clause (vii), together with any amounts added back pursuant to clause (v) above and the
amount of any Pro Forma Adjustment to EBITDA for such period, shall not exceed the greater of $500 million and 15% of EBITDA for such period (calculated prior to giving effect to any such add-back);
provided further that any of the foregoing in connection with (A) the SanDisk Transactions and (B) up to $650 million of the foregoing in connection with the MOFCOM Restructuring, in each case, added back to EBITDA pursuant to
this clause (vii) for any period ending on or prior to the 24th month following the Existing Notes Issue Date shall not be subject to the caps in the preceding proviso; and 

 

	 	(viii)	earn-out obligations incurred in connection with any acquisition or other investment and paid or accrued during the applicable period; less 

(b) without duplication and to the extent included in arriving at such Consolidated Net Income,
non-cash gains for such period (excluding any non-cash gain to the extent it represents the reversal of an accrual or reserve for a potential cash item that reduced
EBITDA in any prior period); provided, in each case, that, if any non-cash gain represents an accrual or asset for future cash items in any future period, the cash payment in respect thereof shall in
such future period be added to EBITDA for such period to the extent excluded from EBITDA in any prior period, 
 (c)
increased or decreased by (without duplication): 
  

	 	(i)	 any net gain or loss resulting in such period from Hedging Obligations and the application of Accounting
Standards Codification Topic 815 and International Accounting 

  
 -8- 

	 	
Standards No. 39 and their respective related pronouncements and interpretations; plus or minus, as applicable; 

 

	 	(ii)	any net gain or loss resulting in such period from currency translation gains or losses related to currency remeasurements of indebtedness (including any net loss or gain resulting from hedge agreements for currency
exchange risk); and 

  

	 	(iii)	any adjustments resulting from the application of Accounting Standards Codification Topic 460, Guarantees, or any comparable regulation; 

in each case, as determined on a consolidated basis for the Company and its Subsidiaries in accordance with GAAP. 

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

“Excluded Subsidiary” means any Subsidiary of the Company that is a bankruptcy remote special purpose vehicle that exists
solely to facilitate a Permitted Receivables Financing. 
 “Existing Notes” means the 2023 Secured Notes and the 2024
Unsecured Notes. 
 “Existing Notes Issue Date” means April 13, 2016. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time.
Notwithstanding the foregoing, (i) the Company shall be permitted to treat any agreement or arrangement, which would be accounted for on the Existing Notes Issue Date as an operating lease under GAAP, whether existing on the Existing Notes
Issue Date or entered into thereafter, under the standards applicable to operating leases under GAAP as in effect on the Existing Notes Issue Date and (ii) all obligations of any Person that are or would have been treated as operating leases
for purposes of GAAP prior to the issuance by the Financial Accounting Standards Board on February 25, 2016 of an Accounting Standards Update (the “ASU”) shall continue to be accounted for as operating leases for purposes of all
financial definitions, covenants and calculations for purposes of this Indenture (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in accordance with the ASU (on
a prospective or retroactive basis or otherwise) to be treated as a capital lease in any financial statements delivered under this Indenture. 

“Global Note” means a global Note or global Notes in registered form, registered in the name of a Depository or its nominee.

 “Government Securities” means securities that are (1) direct obligations of the United States for the timely
payment of which its full faith and credit is pledged or (2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States the timely payment of which is unconditionally guaranteed as a full
faith and credit obligation of the United States, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of the
Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depositary receipt;
provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Government
Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depositary receipt. 

“Governmental Authority” means any federal, state, municipal, national or other government, governmental department,
commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court (including
any supra-national body exercising such powers or functions, such as the European Union or the European Central Bank), in each case whether associated with a state or locality of the United States or the United States. 

  
 -9- 

 “Guarantee” or “Note Guarantee” means a guarantee by a
Guarantor of the Company’s obligations with respect to the Notes. 
 “Guarantor” means each Subsidiary of the Company
that executes this Indenture as a guarantor on the Issue Date and each other Subsidiary of the Company that thereafter executes a supplemental indenture providing its Guarantee pursuant to the terms of this Indenture. 

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any Interest Rate Agreement or Currency
Agreement. 
 “holder” or “noteholder” means the Person in whose name a Note is registered on the
Registrar’s books. 
 “Indenture” means this Indenture, as amended or supplemented from time to time in accordance
with the terms hereof. 
 “Interest Payment Date” means [●] and [●] of each year, commencing [●], 2018.

 “Interest Rate Agreement” means any interest rate swap agreement, interest rate cap agreement or other financial
agreement or arrangement with respect to exposure to interest rates. 
 “Investment” means any purchase, holding or
acquisition (including pursuant to any merger or amalgamation with any Person that was not a wholly owned Subsidiary prior to such merger or amalgamation) of any equity interests in or evidences of indebtedness or other securities (including any
option, warrant or other right to acquire any of the foregoing) of, loans or advances to, guarantees of any obligations of, or any investment or any other interest in, any other Person, or the purchase or other acquisition (in one transaction or a
series of transactions) of any assets of any other Person constituting a business unit. 
 “Investment Grade Rating” means
a rating equal to or higher than Baa3 (or the equivalent) and BBB— (or the equivalent) by Moody’s Investors Service, Inc. (or any successor to the rating agency business thereof) and S&P (or any successor to the rating agency business
thereof), respectively. 
 “Issue Date” means [●], 2018, the original date of issuance of the Notes. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale
or other title retention agreement or lease in the nature thereof); provided, however, that in no event shall an operating lease be deemed to constitute a Lien. For the avoidance of doubt, the grant by any Person of a non-exclusive license to use intellectual property owned by, licensed to, or developed by such Person and such license activity shall not constitute a grant by such Person of a Lien on such intellectual property.

 “Material Capital Markets Debt” means (i) any Debt consisting of bonds, debentures, notes or other similar debt
securities issued in (a) a public offering registered under the Securities Act, (b) a private placement to institutional investors that is resold in accordance with Rule 144A or Regulation S of the Securities Act, or (c) a placement
to institutional investors, in each case in aggregate principal amount of $100 million or more, and (ii) the Existing Notes. The term “Material Capital Markets Debt” shall not include any Debt under commercial bank facilities or
similar Debt or any other type of Debt incurred in a manner not customarily viewed as a “securities offering.” 

“Maturity Date” means [●], 2026. 

“MOFCOM Restructuring” means the sale, transfer or other disposition (i) of any assets required by any antitrust
authority or other regulatory authority in connection with the SanDisk Acquisition or (ii) that are part of any intercompany restructuring in connection with requirements imposed by the Ministry of Commerce of the People Republic of China
within 24 months of the Existing Notes Issue Date. 
 “Non-Cash Charges” means
(a) any impairment charge or asset write-off or write-down related to intangible assets (including goodwill), long-lived assets and Investments in debt and equity securities pursuant to GAAP,

  
 -10- 

 
(b) all non-cash losses from investments recorded using the equity method, (c) all Non-Cash Compensation
Expenses, (d) the non-cash impact of purchase or recapitalization accounting and (e) all other non-cash charges (provided that, in each case, if any non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from EBITDA to such extent, and excluding
amortization of a prepaid cash item that was paid in a prior period). 
 “Non-Cash
Compensation Expense” means any non-cash expenses and costs that result from the issuance of stock-based awards, limited liability company or partnership interest-based awards and similar
incentive-based compensation awards or arrangements. 
 “Notes” means the Company’s [●]% Senior Notes due 2026
issued under this Indenture. 
 “Officer” means the chairman of the Board of Directors, the chief executive officer, the
president, the chief financial officer, any executive vice president, senior vice president or vice president, the treasurer or any assistant treasurer or the secretary or any assistant secretary of the Company. 

“Officer’s Certificate” means a certificate signed on behalf of the Company by an Officer of the Company. 

“Opinion of Counsel” means a written opinion signed by legal counsel, who may be an employee of or counsel to the Company, or
other counsel who is reasonably satisfactory to the Trustee. 
 “Permitted Liens” means, with respect to any Person: 

(1) pledges or deposits by such Person under worker’s compensation laws, unemployment insurance laws or similar legislation or in
connection with old age benefits, social security obligations, statutory obligations or other similar charges (and pledges and deposits made in respect of letters of credit, surety bonds, bank guarantees or similar instruments supporting such
obligations), in connection with bids, tenders, contracts or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or pledges or deposits to secure the performance of bids, trade contracts,
leases, surety or appeal bonds, performance bonds or similar instruments (and pledges and deposits made in respect of letters of credit, surety bonds, bank guarantees or similar instruments supporting such obligations) to which such Person is a
party, or deposits as security for the payment of rent, in each case incurred in the ordinary course of business; 
 (2) carriers’,
warehousemen’s and mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law, in each case for sums not overdue by more than 60 days or being contested in good faith by appropriate proceedings or other Liens
arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review and Liens arising solely by virtue of any statutory or common law provision relating to
banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; provided, however, that such deposit accounts or
funds are not established or deposited for the purpose of providing collateral for any indebtedness and are not subject to restrictions on access by such Person in excess of those required by applicable banking regulations; 

(3) Liens for taxes not yet due and payable and Liens (or deposits as security) for taxes, which are being contested in good faith by
appropriate proceedings and as to which appropriate reserves have been provided for in accordance with GAAP; 
 (4) Liens in favor of
issuers of customs, stay, performance, bid, appeal or surety bonds, completion guarantees or letters of credit and other obligations of a like nature issued pursuant to the request of and for the account of such Person in the ordinary course of its
business; 
 (5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property or Liens
incidental to the conduct of the business of such Person or to the ownership of its properties which were not incurred in connection with indebtedness and which do not 

  
 -11- 

 
in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(6) Liens securing Hedging Obligations; 

(7) Liens incurred to secure cash management services in the ordinary course of business; 

(8) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; 

(9) Liens on any cash earnest money deposits, escrow arrangements or similar arrangements made by the Company or any Subsidiary in connection
with any letter of intent or purchase agreement in connection with a transaction permitted under this Indenture; 
 (10) Liens arising by
virtue of Uniform Commercial Code financing statement filings (or similar filings under applicable law) regarding operating leases entered into by such Person in the ordinary course of business or consignments entered into in connection with any
transaction otherwise permitted under this Indenture; 
 (11) interests or title of, or Lien securing interests of, a lessor, sublessor,
licensor or sublicensor under a lease (other than a Capital Lease Obligation) entered into by the Company or any Subsidiary in the ordinary course of business; 

(12) Liens arising out of conditional sale, title retention, consignment or similar arrangements for sale of goods by any of the Subsidiaries
in the ordinary course of business; 
 (13) Liens arising under any Permitted Receivables Financing; 

(14) leases, licenses, subleases or sublicenses, including non-exclusive software licenses, granted to
others in the ordinary course of business that do not interfere in any material respect with the business of the Company and the Subsidiaries, taken as a whole, or secure any Indebtedness; 

(15) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the
importation of goods; encumbrances or restrictions set forth in the organizational documents (or any related joint venture, shareholders’ or similar agreement) of any non-wholly owned Subsidiary or any
Person that is not a Subsidiary in respect of their respective Capital Stock; 
 (16) ground leases or subleases, licenses or sublicenses in
respect of real property on which facilities owned or leased by the Company or any of its Subsidiaries are located; 
 (17) licenses,
sublicenses, covenants not to sue or other grants of rights to intellectual property rights granted (i) in the ordinary course of business or (ii) in the reasonable business judgment of the Company or the Subsidiaries in the conduct of its
business (including in the settlement of litigation or entering into cross-licenses); 
 (18) any zoning, building or similar law or right
reserved to, or vested in, any Governmental Authority to control or regulate the use of any real property that does not materially interfere with the ordinary course of conduct of the business of the Company and its Subsidiaries, taken as a whole;
and 
 (19) Liens (i) of a collection bank arising under Section 4-210 of the Uniform
Commercial Code on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business and (iii) in favor of a banking institution arising as a
matter of law encumbering deposits (including the right to set off), which are within the general parameters customary in the banking industry; 

(20) Liens that are contractual rights of set-off (i) relating to the establishment of depository
relations with banks not given in connection with the issuance of indebtedness, (ii) relating to pooled deposit, automatic clearing 

  
 -12- 

 
house or sweep accounts of the Company or any Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Company and its
Subsidiaries, (iii) relating to purchase orders and other agreements entered into with customers of the Company or any Subsidiary in the ordinary course of business or (iv) relating to the credit cards and credit accounts of the Company or
any of its Subsidiaries in the ordinary course of business; and 
 (21) Liens on specific items of inventory or other goods and the proceeds
thereof of any Person securing such Person’s obligations under any agreement to facilitate the purchase, shipment or storage of such inventory or other goods, and pledges or deposits in the ordinary course of business securing inventory
purchases from vendors. 
 “Permitted Receivables Financing” means any transaction or series of transactions that may be
entered into by the Company or any Subsidiary pursuant to which it sells, conveys or contributes to capital or otherwise transfers (which sale, conveyance, contribution to capital or transfer may include or be supported by the grant of a security
interest in) Receivables or interests therein and all collateral securing such Receivables, all contracts and contract rights, purchase orders, security interests, financing statements or other documentation in respect of such Receivables, any
guarantees, indemnities, warranties or other obligations in respect of such Receivables, any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization
transactions involving receivables similar to such Receivables and any collections or proceeds of any of the foregoing (collectively, the “Related Assets”), all of which such sales, conveyances, contributions to capital or transfers
shall be made by the transferor for fair value as reasonably determined by the Company (calculated in a manner typical for such transactions including a fair market discount from the face value of such Receivables) (a) to a trust, partnership,
corporation or other Person (other than the Company or any Subsidiary (other than any Receivables Financing Subsidiary)), which transfer is funded in whole or in part, directly or indirectly, by the incurrence or issuance by the transferee or any
successor transferee of Debt, fractional undivided interests or other securities that are to receive payments from, or that represent interests in, the cash flow derived from such Receivables and Related Assets or interests in such Receivables and
Related Assets, or (b) directly to one or more investors or other purchasers (other than the Company or any Subsidiary), it being understood that a Permitted Receivables Financing may involve (i) one or more sequential transfers or pledges
of the same Receivables and Related Assets, or interests therein (such as a sale, conveyance or other transfer to any Receivables Financing Subsidiary followed by a pledge of the transferred Receivables and Related Assets to secure Debt incurred by
the Receivables Financing Subsidiary), and all such transfers, pledges and Debt incurrences shall be part of and constitute a single Permitted Receivables Financing, and (ii) periodic transfers or pledges of Receivables and/or revolving
transactions in which new Receivables and Related Assets, or interests therein, are transferred or pledged upon collection of previously transferred or pledged Receivables and Related Assets, or interests therein, provided that any such
transactions shall provide for recourse to such Subsidiary (other than any Receivables Financing Subsidiary) or the Company (as applicable) only in respect of the cash flows in respect of such Receivables and Related Assets and to the extent of
breaches of representations and warranties relating to the Receivables, dilution of the Receivables, customary indemnities and other customary securitization undertakings in the jurisdiction relevant to such transactions. 

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

“principal” of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue
or is to become due at the relevant time. 
 “Pro Forma Adjustment” means, for any period with respect to any
Acquisition Transaction or asset disposition, the pro forma increase in EBITDA projected by the Company in good faith based on the Company’s reasonable assumptions that are reasonably identifiable and factually supportable cost savings,
operating expense reductions and synergies to be achieved as a result thereof, within 18 months of the date of such Acquisition Transaction or asset disposition so long as the actions necessary to achieve such cost savings, operating expense
reductions or synergies have been taken or are reasonably expected to be taken within twelve months of such Acquisition Transaction or asset disposition. Any such pro forma increase to EBITDA shall be without duplication for cost savings,
operating expense reductions or synergies already included in EBITDA for such period. Notwithstanding the foregoing, any Pro Forma Adjustment to EBITDA for any period, together with any amounts added back pursuant to

  
 -13- 

 
clauses (v) and (vii) of the definition of “EBITDA” for such period, shall not exceed the greater of $500 million and 15% of EBITDA for such period (calculated prior to such add-back). 
 “Property” means any property or asset, whether real, personal or mixed,
including current assets owned on the Issue Date or thereafter acquired by the Company or any Subsidiary of the Company, but excluding deposit or other control accounts and any property or asset that the Board of Directors by resolution determines
in good faith (taking into account, among other things, the materiality of such property to the business, financial condition and earnings of the Company and its Subsidiaries taken as a whole) not to be material to the business of the Company and
its Subsidiaries, taken as a whole. 
 “Prospectus” means the Prospectus dated [●], 2018 relating to the initial
offering of the Notes. 
 “Rating Agencies” means S&P and Moody’s Investors Service, Inc. or any successor to the
respective rating agency business thereof. 
 “Rating Event” means (1) the ratings of the Notes are lowered by each of
the Rating Agencies and (2) the Notes are rated below the rating by such Rating Agency in effect immediately preceding the first public announcement of the Change of Control (or occurrence thereof if such Change of Control occurs prior to
or concurrently with a public announcement) and are rated below an Investment Grade Rating by each of the Rating Agencies on any day during the period (which period will be extended so long as the rating of the Notes is under publicly announced
consideration for a possible downgrade by any of the Rating Agencies) that (1) commences on the earlier of (x) the date of the first public announcement of the occurrence of a Change of Control or the intention of the Company to effect a
Change of Control and (y) the occurrence of such Change of Control and (2) ends 60 days following the consummation of such Change of Control. 

Notwithstanding the foregoing, a Ratings Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a Ratings Event for purposes of the definition of Change of Control Triggering Event hereunder) if the Rating Agencies making the reduction in rating to which this
definition would otherwise apply do not announce or publicly confirm or inform the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable
Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Ratings Event). The Trustee shall not have any obligation to monitor the occurrence or dates of any Rating Event and may rely conclusively on
such Officer’s Certificate related to such Change of Control Triggering Event. The Trustee shall not have any obligation to notify the holders of the occurrence or dates of any Rating Event. 

“Receivables” means accounts receivable (including all rights to payment created by or arising from the sale of goods, leases
of goods or the rendition of services, no matter how evidenced (including in the form of a chattel paper)). 
 “Receivables
Financing Subsidiary” means any wholly owned Subsidiary of the Company formed solely for the purpose of, and that engages only in, one or more Permitted Receivables Financings. 

“Record Date” means the applicable Record Date specified in the Notes. 

“Redemption Date,” when used with respect to any Note to be redeemed, means the date fixed for such redemption pursuant to
this Indenture and such Notes. 
 “Refinance” means, in respect of any Debt, to refinance, extend, renew, refund, repay,
prepay, redeem, defease or retire, or to issue other Debt in exchange or replacement for, such Debt. “Refinanced” and “Refinancing” shall have correlative meanings. 

“Responsible Officer” means, when used with respect to the Trustee, any officer in the corporate trust department of the
Trustee, including any vice president, trust officer or any other officer of the Trustee to whom any corporate trust matter relating to this Indenture is referred because of such officer’s knowledge of and familiarity

  
 -14- 

 
with the particular subject and shall also mean any officer who shall have direct responsibility for the administration of this Indenture. 

“S&P” means Standard & Poor’s Ratings Services or any successor to the rating agency business thereof. 

“Sale/Leaseback Transaction” means an arrangement relating to a Property owned by the Company or a Subsidiary of the Company
on the Issue Date or thereafter acquired by the Company or a Subsidiary of the Company whereby the Company or a Subsidiary of the Company transfers such property to a Person and the Company or the Subsidiary of the Company leases it from such
Person. 
 “SanDisk Acquisition” means the acquisition of SanDisk Corporation by the Company pursuant to the Agreement and
Plan of Merger dated as of October 21, 2015. 
 “SanDisk Transactions” means (i) the SanDisk Acquisition,
(ii) the entry into the Credit Agreement, (iii) the issuance of the Existing Notes and (iv) the payment of all fees and expenses related thereto. 

“Seagate Arbitration” means the arbitration between the Company and Seagate Technology, LLC and related matters based on the
actions initially filed by Seagate Technology, LLC on October 4, 2006. 
 “SEC” means the Securities and Exchange
Commission. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Significant Subsidiary” means any Subsidiary of the Company that would be a “significant subsidiary” of the
Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the
final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the
happening of any contingency unless such contingency has occurred). 
 “Subsidiary” means, with respect to any Person, any
corporation, association, partnership, limited liability company or other business entity of which more than 50% of the total voting power of shares of Voting Stock is at the time owned or controlled, directly or indirectly, by: 

(1) such Person; 

(2) such Person and one or more Subsidiaries of such Person; or 

(3) one or more Subsidiaries of such Person. 

“TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as amended. 

“Transactions” means the offering of the Notes, the Convertible Notes Offering (as defined in the Prospectus), the TLA
Increase (as defined in the Prospectus), extension of the Revolving Credit Facility and amendments to the Credit Agreement, the 2024 Tender Offer (as defined in the Prospectus) and the payment of all fees and expenses related thereto. 

“Trustee” means the party named as such in this Indenture until a successor replaces it in accordance with the provisions of
this Indenture and thereafter means such successor. 
 “U.S. Legal Tender” means such coin or currency of the United States
of America that at the time of payment shall be legal tender for the payment of public and private debts. 
 “Voting Stock”
of a Person means all classes of Capital Stock or other interests (including partnership interests) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to

  
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vote in the election of directors, managers or trustees thereof (or the controlling managing member or general partner, as applicable). 

SECTION 1.02. Other Definitions. 
  

			
	 Term
	  	 Defined in Section

	“Adjusted Treasury Rate”	  	Exhibit A
	“Applicable Premium”	  	Exhibit A
	“Change of Control Offer”	  	4.09
	“Change of Control Payment Date”	  	4.09
	“Comparable Treasury Issue”	  	Exhibit A
	“Comparable Treasury Price”	  	Exhibit A
	“covenant defeasance”	  	8.02
	“Debt”	  	4.13
	“delayed Redemption Date”	  	3.07
	“DTC”	  	2.03
	“Event of Default”	  	6.01
	“Guarantee Obligations”	  	11.01
	“legal defeasance”	  	8.02
	“Participants”	  	2.15
	“Paying Agent”	  	2.03
	“Physical Notes”	  	2.01
	“Quotation Agent”	  	Exhibit A
	“Reference Treasury Dealer”	  	Exhibit A
	“Reference Treasury Dealer Quotations”	  	Exhibit A
	“Remaining Scheduled Payments”	  	Exhibit A
	“Registrar”	  	2.03

 SECTION 1.03. Incorporation by Reference of TIA. 

Whenever this Indenture refers to a provision of the TIA, such provision is incorporated by reference in, and made a part of, this Indenture.
The following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means
the Notes. 
 “indenture security holder” means a holder or a noteholder. 

“indenture to be qualified” means this Indenture. 

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

“obligor” on the indenture securities means the Company, any Guarantor or any other obligor on the Notes. 

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule and
not otherwise defined herein have the meanings assigned to them therein. 
 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; 

  
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 (3) “or” is not exclusive; 

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

(5) provisions apply to successive events and transactions; 

(6) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any
particular Article, Section or other subdivision; and 
 (7) the words “including,” “includes” and
similar words shall be deemed to be followed by “without limitation.” 
 ARTICLE TWO 

THE NOTES 
 SECTION 2.01. Form
and Dating. 
 The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A
hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall approve the form of the Notes and any notation, legend or endorsement on them. Each Note shall be dated the date of its
authentication. 
 The terms and provisions contained in the Notes and the Note Guarantees shall constitute, and are hereby expressly made,
a part of this Indenture and, to the extent applicable, 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. 

The Notes shall be issued initially in the form of one or more Global Notes, substantially in the form set forth in Exhibit A,
deposited with the Trustee, as custodian for the Depository, duly executed by the Company and authenticated by the Trustee as hereinafter provided and shall bear the legends set forth in Exhibit B. The aggregate principal amount of the Global
Notes may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depository, as hereinafter provided. 

Notes may be issued in the form of permanent certificated Notes in registered form in substantially the form set forth in Exhibit A
(the “Physical Notes”) in exchange for interests in Global Notes only in the circumstances and manner set forth in Section 2.15. 

SECTION 2.02. Execution and Authentication. 

One Officer of the Company (who shall have been duly authorized by all requisite corporate actions) shall sign the Notes for the Company by
manual or facsimile signature. 
 If an Officer whose signature is on a Note or Note Guarantee, as the case may be, was an Officer at the
time of such execution but no longer holds that office at the time the Trustee authenticates the Note, the Note or Note Guarantee, as the case may be, shall nevertheless be valid. 

A Note shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Note. The
signature shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture. 
 The Trustee shall
authenticate and deliver Notes for original issue on the Issue Date in the aggregate principal amount of $[●] upon a written order of the Company in the form of an Officer’s Certificate. In addition, the Trustee shall authenticate and
deliver Additional Notes from time to time thereafter in unlimited amount (so long as not otherwise prohibited by the terms of this Indenture) for original issue upon a written order of the 

  
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Company in the form of an Officer’s Certificate. Each such Officer’s Certificate shall specify the amount of Notes to be authenticated and the date on which the Notes are to be
authenticated. 
 The Trustee may appoint an authenticating agent reasonably acceptable to the Company to authenticate Notes. Unless
otherwise provided in the appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent
has the same rights as an Agent to deal with the Company and Affiliates of the Company. 
 The Notes shall be issuable only in registered
form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 SECTION 2.03. Registrar
and Paying Agent. 
 The Company shall maintain an office or agency in the United States (which may be an office of the Trustee or an
affiliate of the Trustee, Registrar or co-registrar), where (a) Notes may be presented or surrendered for registration of transfer or for exchange (“Registrar”), (b) Notes may be
presented or surrendered for payment (“Paying Agent”) and (c) notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. 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 shall in any manner
relieve the Company of its obligation to maintain an office or agency in the United States, for such purposes. The Company may change any Paying Agent or Registrar without notice to any holder. The Company or any of its Subsidiaries may act as its
own Registrar or Paying Agent provided compliance with the proviso of the previous sentence. The Registrar shall keep a register of the Notes and of their transfer and exchange. The Company, upon notice to the Trustee, may have one or more co-Registrars and one or more additional paying agents reasonably acceptable to the Trustee. The term “Paying Agent” includes any additional paying agent. The Company initially appoints the Trustee as
Registrar and Paying Agent until such time as the Trustee has resigned or a successor has been appointed. Notwithstanding anything to the contrary herein, in no event shall the Trustee be the Company’s agent for service of legal process. 

The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, which shall incorporate the terms
of the TIA to the extent applicable. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee, in advance, of the name and address of any such Agent. If the Company fails to
maintain a Registrar or Paying Agent, the Trustee shall act as such. 
 The Company may remove any Registrar or Paying Agent upon written
notice to such Registrar or Paying Agent and to the Trustee; provided, however, that no such removal shall become effective until (i) acceptance of an appointment by a successor as evidenced by an appropriate agreement entered
into by the Company and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a
successor in accordance with clause (i) above. 
 SECTION 2.04. Paying Agent To Hold Money in Trust. 

The Company shall require each Paying Agent (other than the Trustee) to agree in writing that each Paying Agent shall hold in trust for the
benefit of holders or the Trustee all assets held by the Paying Agent for the payment of principal of, or interest on, the Notes (whether such assets have been distributed to it by the Company or any other obligor on the Notes), and shall notify the
Trustee of any Default by the Company (or any other obligor on the Notes) in making any such payment. In the event that the Paying Agent receives funds in advance of any due date, the Paying Agent shall be entitled to invest such funds in the U.S.
Bank Money Market Deposit Account or any substantially similar successor account, any earnings on which shall be for the account of the Company. The Company at any time may require a Paying Agent to distribute all assets held by it to the Trustee
and account for any assets disbursed and the Trustee may at any time during the continuance of any payment Default, upon written request to a Paying Agent, require such Paying Agent to distribute all assets held by it to the Trustee and to account
for any assets distributed. Upon distribution to the Trustee of all assets that shall have been delivered by the Company to the 

  
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Paying Agent, the Paying Agent shall have no further liability for such assets. Upon any bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall
automatically serve as Paying Agent for the Notes. 
 SECTION 2.05. Holder Lists. 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of holders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least four (4) Business Days prior to each Interest Payment Date and at such other times as the Trustee may request in writing a list in such form and
as of such date as the Trustee may reasonably require of the names and addresses of holders, which list may be conclusively relied upon by the Trustee. 

SECTION 2.06. Transfer and Exchange. 

Subject to Section 2.15, when Notes are presented to the Registrar or a co-Registrar with a
request to register the transfer of such Notes or to exchange such Notes for an equal principal amount of Notes of other authorized denominations, the Registrar or co-Registrar shall register the transfer or
make the exchange as requested if the requirements in this Indenture are met; provided, however, that the Notes surrendered for transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Registrar or co-Registrar, duly executed by the holder thereof or his or her attorney duly authorized in writing. To permit registrations of transfers and exchanges, the
Company shall execute and the Trustee shall authenticate Notes at the Registrar’s or co-Registrar’s request. No service charge shall be imposed by the Company, the Trustee or any Agent for any
registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any taxes, assessments or other governmental charge payable in connection therewith. 

Without the prior written consent of the Company, the Registrar or co-Registrar shall not be required
to register the transfer of or exchange any Note (i) during a period beginning at the opening of business 15 days before the sending of a notice of redemption of Notes and ending at the close of business on the day of such mailing or other
transmission, (ii) selected for redemption in whole or in part pursuant to Article Three, except the unredeemed portion of any Note being redeemed in part, (iii) during a Change of Control Offer if such Note is validly tendered pursuant to
such Change of Control Offer and not validly withdrawn or (iv) beginning at the opening of business 15 days before an Interest Payment Date. 

Any holder of a beneficial interest in a Global Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Notes may be effected only through a book-entry system maintained by the holder of such Global Note (or its agent), and that ownership of a beneficial interest in the Note shall be required to be reflected in a book-entry
system. 
 SECTION 2.07. Replacement Notes. 

If a mutilated Note is surrendered to the Trustee or if the holder of a Note claims that the Note has been lost, destroyed or wrongfully
taken, the Company shall issue and the Trustee shall authenticate a replacement Note if the Company determines that the requirements of the Uniform Commercial Code are met. If required by the Trustee or the Company, such holder shall furnish an
affidavit of loss and such holder must provide an indemnity bond or other indemnity, sufficient in the judgment of the Trustee, to protect the Trustee, and the Company, to protect the Company, the Trustee or any Agent from any loss which any of them
may suffer if a Note is replaced. The Company may charge such holder for its expenses in replacing a Note pursuant to this Section 2.07, including reasonable fees and expenses of counsel and of the Trustee. In the event any such mutilated,
lost, destroyed or wrongfully taken Note has become or is about to become due and payable, the Company in its discretion may pay such Note instead of issuing a new Note in replacement thereof. 

Every replacement Note is an additional obligation of the Company and every replacement Note Guarantee shall constitute an additional
obligation of the Guarantor thereof. 

  
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 The provisions of this Section 2.07 are exclusive and shall preclude (to the extent
lawful) all other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Notes. 

SECTION 2.08. Outstanding Notes. 

Notes outstanding at any time are all the Notes that have been authenticated by the Trustee except those cancelled by it, those delivered to
it for cancellation and those described in this Section as not outstanding. A Note does not cease to be outstanding because the Company, the Guarantors or any of their respective Affiliates holds the Note (subject to the provisions of
Section 2.09). 
 If a Note is replaced pursuant to Section 2.07 (other than a mutilated Note surrendered for replacement), it
ceases to be outstanding unless a Responsible Officer of the Trustee and the Company receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. A mutilated Note ceases to be outstanding upon surrender of such
Note and replacement thereof pursuant to Section 2.07. If the principal amount of any Note is considered paid under Section 4.01, it ceases to be outstanding and interest ceases to accrue. If on a Redemption Date, the Maturity Date, a
Change of Control Payment Date, an Asset Sale Payment Date or any other date payment on the Notes is due the Trustee or Paying Agent (other than the Company or an Affiliate thereof) holds U.S. Legal Tender or U.S. Government Securities sufficient to
pay all of the principal and interest due on the Notes payable on that date, then on and after that date such Notes cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.09. Treasury Notes. 

In determining whether the holder of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by
the Company or any of its Affiliates shall be disregarded, except that, for the purposes of determining whether the Trustee shall be protected in conclusively relying on any such direction, waiver or consent, only Notes that a Responsible Officer of
the Trustee actually knows are so owned shall be disregarded. 
 SECTION 2.10. Temporary Notes. 

Until definitive Notes are ready for delivery, the Company may prepare and the Trustee shall authenticate and make ready for delivery
temporary Notes. Temporary Notes shall be substantially in the form of definitive Notes but may have variations that the Company considers appropriate for temporary Notes. Without unreasonable delay, the Company shall prepare and the Trustee shall
authenticate and deliver them definitive Notes in exchange for temporary Notes. Until such exchange, temporary Notes shall be entitled to the same rights, benefits and privileges as definitive Notes. Notwithstanding the foregoing, the Notes may be
in typewritten form. 
 SECTION 2.11. Cancellation. 

The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any
Notes surrendered to them for transfer, exchange or payment. The Trustee, or at the direction of the Trustee, the Registrar or the Paying Agent (other than the Company or a Subsidiary), and no one else, shall cancel and, at the written direction of
the Company, shall dispose of all Notes surrendered for transfer, exchange, payment or cancellation in accordance with its customary procedures and deliver a certificate of such destruction to the Company upon the Company’s written request.
Subject to Section 2.07, the Company may not issue new Notes to replace Notes that it has paid or delivered to the Trustee for cancellation. If the Company or any Guarantor shall acquire any of the Notes, such acquisition shall not operate as a
redemption or satisfaction of the indebtedness represented by such Notes unless and until the same are surrendered to the Trustee for cancellation pursuant to this Section 2.11. 

SECTION 2.12. Defaulted Interest. 

If the Company defaults in a payment of interest on the Notes, it shall, unless the Trustee fixes another record date pursuant to
Section 6.10, pay the defaulted interest, plus (to the extent lawful) any interest payable on the 

  
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defaulted interest pursuant to this Indenture, in any lawful manner. The Company may pay the defaulted interest to the persons who are holder on a subsequent special record date, which date shall
be the fifteenth day next preceding the date fixed by the Company for the payment of defaulted interest. At least 15 days before any such subsequent special record date, the Company shall mail to each holder, with a copy to the Trustee, a notice
that states the subsequent special record date, the payment date and the amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. 

SECTION 2.13. CUSIP Numbers, ISINs, etc. 

The Company in issuing the Notes may use a “CUSIP” number, ISIN or “Common Code” number (in each case if then generally in
use), and if so, the Trustee shall use the CUSIP number, ISIN or “Common Code” number in notices of redemption, repurchase or exchange as a convenience to holder; provided, however, that any such notice may state that no
representation is made as to the correctness or accuracy of the number printed in the notice or on the Notes, and that reliance may be placed only on the other identification numbers printed on the Notes. The Company will promptly notify the Trustee
in writing of any change in the CUSIP numbers, ISINs or “Common Code” numbers. 
 SECTION 2.14. Deposit of Moneys. 

Prior to 11:00 a.m. New York City time on each Interest Payment Date, Maturity Date, Redemption Date, Change of Control Payment Date, the
Company shall have deposited with the Paying Agent in immediately available funds money sufficient to make cash payments, if any, due on such Interest Payment Date, Maturity Date, Redemption Date and Change of Control Payment Date, as the case may
be, in a timely manner which permits the Paying Agent to remit payment to the holders on such Interest Payment Date, Maturity Date, Redemption Date or Change of Control Payment Date, as the case may be. 

SECTION 2.15. Book-Entry Provisions for Global Notes. 

(a) The Global Notes initially shall (i) be registered in the name of the Depository or the nominee of such Depository, (ii) be
delivered to the Trustee as custodian for such Depository and (iii) bear legends as set forth in Exhibit B. 
 Members of, or
participants in, the Depository (“Participants”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Note, and the
Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and Participants, the operation of customary practices
governing the exercise of the rights of a holder or beneficial owner of any Note. 
 (b) Transfers of Global Notes shall be limited to
transfers in whole, but not in part, to the Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Notes may be exchanged for Physical Notes only as follows: Physical Notes shall be transferred to all
beneficial owners in exchange for their beneficial interests in Global Notes if (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for the Global Notes and a successor Depository is not appointed by
the Company, with a copy to the Trustee, within 90 days of such notice or (ii) an Event of Default has occurred and is continuing and the Registrar has received a written request from the Depository to issue Physical Notes. 

(c) In connection with the transfer of a Global Note to beneficial owners pursuant to paragraph (b) of this Section 2.15, such
Global Note shall be deemed to be surrendered to the Trustee for cancellation, and (i) the Company shall execute and (ii) the Trustee shall upon written instructions from the Company authenticate and deliver, to each beneficial owner
identified by the Depository in exchange for its beneficial interest in such Global Note, an equal aggregate principal amount of Physical Notes of authorized denominations. 

  
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 (d) The holder of any Global Note may grant proxies and otherwise authorize any Person,
including Participants and Persons that may hold interests through Participants, to take any action which a holder is entitled to take under this Indenture or the Notes. 

(e) No Obligation of the Trustee. 

(1) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a member of, or a
participant in the Depositary or any other Person with respect to the accuracy of the records of the Depositary or its nominee or of any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the
delivery to any participant, member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes. All notices and
communications to be given to the holders and all payments to be made to holders under the Notes shall be given or made only to the registered holders (which shall be the Depositary or its nominee in the case of a Global Note). The rights of
beneficial owners in any Global Note shall be exercised only through the Depositary subject to the applicable rules and procedures of the Depositary. The Trustee may rely and shall be fully protected in relying upon information furnished by the
Depositary with respect to its members, participants and any beneficial owners. 
 (2) 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
Depositary participants, members or beneficial owners in any Global Note) other than to require delivery of such certificates, opinions 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. 

ARTICLE THREE 
 REDEMPTION 

SECTION 3.01. Notices to Trustee. 

If the Company elects to redeem Notes pursuant to Section 5 or Section 6 of the Notes, it shall notify the Trustee in writing of the
Redemption Date, the redemption price, any conditions to such redemption and the principal amount of Notes to be redeemed. The Company shall give notice of redemption to the Paying Agent and Trustee at least 19 days (unless a shorter notice shall be
agreed to by the Trustee in writing) but not more than 60 days before the Redemption Date (except that redemption notices may be delivered 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), together with an Officer’s Certificate stating that such redemption will comply with the conditions set forth in this Article Three; provided that, without limitation to the
Company’s right to revoke a notice of redemption under the circumstances contemplated by Section 3.07 of this Indenture, such notice may be revoked by the Company by notice to the Trustee at any time prior to the time on the date specified
by the Company for the Trustee to forward notice of such redemption to holders as provided in Section 3.03 or, if the Company does not request the Trustee to forward notice of such redemption to holders, at any time prior to the Company’s
giving of the notice of such redemption to holders pursuant to Section 3.03 and shall thereby be void and of no effect. 
 SECTION
3.02. Selection of Notes to be Redeemed. 
 If less than all of the Notes are to be redeemed at any time, the Trustee will select
Notes for redemption as follows: 
 (a) if the Notes are listed on a national securities exchange, in compliance with the
requirements of the principal national securities exchange on which the Notes are listed (provided that the Company 

  
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shall have notified the Trustee of such requirements prior to the delivery of notice of redemption to holders pursuant to Section 3.03); or 

(b) if the Notes are not so listed (or if the Company has not notified the Trustee of the applicable requirements of the
principal national securities exchange on which the Notes are listed pursuant to clause (a) above), then, in the case of Notes that are not Global Notes, on a pro rata basis, by lot or by such other method as the Trustee in its sole
discretion shall deem to be fair and appropriate or, in the case of Global Notes, in accordance with the procedures of the Depository; 

(c) if the Company redeems fewer than all the Notes at any time, the Trustee will select Notes on a pro rata basis, by lot or
by such other method as the Trustee in its sole discretion shall deem to be fair and appropriate unless otherwise required by law or applicable stock exchange or depositary requirements, including the applicable procedures of DTC. 

provided that, in the case of such partial redemption pursuant to the first paragraph of Section 6 of the Notes, the Notes will be selected on
a pro rata basis (unless, in the case of Global Notes, the procedures of the Depository provide for a different basis of selection, in which case such selection shall be made in accordance with such procedures); provided,
further, that, in the case of clause (a) above, the Company shall have provided the Trustee with an Officer’s Certificate describing or attaching a copy of the applicable requirements of such securities exchange. The Trustee shall
not be responsible for determining whether or not any such requirements of any such securities exchange exist and will use reasonable efforts to comply with any such requirements of which it is so notified. 

Notes may be redeemed in part in integral multiples of $1,000; provided, that the remaining principal amount of any Note redeemed in
part must not be less than $2,000. So long as the Notes are represented by a Global Note or Global Notes registered in the name of the Depository or its nominee, neither the Trustee nor any of its agents shall have any responsibility for any actions
taken or not taken by the Depository. 
 SECTION 3.03. Notice of Redemption. 

Subject to the provisions of Section 3.07 hereof, at least 15 days but not more than 60 days before a Redemption Date, the Company shall
mail a notice of redemption by first class mail, postage prepaid, to each holder whose Notes are to be redeemed at its registered address (or deliver by electronic transmission in accordance with the applicable procedures of DTC), except that
redemption notices may be sent 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. At the Company’s request (which shall specify
the date and time at which the Trustee shall forward the notice of redemption) given at least five (5) Business Days prior to the date such notice shall be sent (unless the Trustee consents to a shorter period), the Trustee shall (on such date
and at or promptly after such time) forward the notice of redemption in the Company’s name and at the Company’s expense unless the Company shall have revoked such notice of redemption in compliance with Section 3.01. Each notice for
redemption shall identify the Notes (including the CUSIP number, ISIN or “Common Code” number) to be redeemed and shall state: 

(1) the Redemption Date; 

(2) the redemption price and the amount of accrued interest to the Redemption Date, if any, to be paid; 

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

(4) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price plus accrued
interest, if any; 
 (5) any conditions to such redemption as determined by the Company in its sole discretion, and the
Company may at its option also include a statement to the effect that the Redemption Date may be delayed, on one or more occasions and in the Company’s sole discretion, either (at the Company’s option) to a date specified by the Company in
a subsequent notice to holders (subject, if the Company shall so 

  
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elect, to the satisfaction of any or all such conditions or the Company’s written waiver of any such conditions that are not satisfied) or until such time as any or all such conditions have
been satisfied or waived by the Company in writing, and that, if any such condition shall not have been satisfied as and when required (as determined by the Company in its sole discretion and taking into account any election by the Company to delay
such Redemption Date), then (unless the Company shall have waived in writing any such conditions that are not satisfied), the Company shall have no obligation to redeem the Notes called for redemption on such Redemption Date (as the same may have
been delayed by the Company as aforesaid) and may cancel such redemption and rescind such notice of redemption; 
 (6) that,
if (in the case of a notice of a redemption that is subject to conditions) all conditions to such redemption are satisfied as and when required (as determined by the Company in its sole discretion and taking into account any election by the Company
to delay such Redemption Date) or the Company waives in writing any such conditions that are not satisfied, then, unless the Company defaults in making the redemption payment, interest on Notes called for redemption ceases to accrue on and after the
Redemption Date (or, if such redemption is subject to conditions and the Company has elected to delay such Redemption Date as described in clause (5) above, on and after such delayed Redemption Date (as defined in Section 3.07)), and the
only remaining right of the holders of such Notes is to receive payment of the redemption price upon surrender to the Paying Agent of the Notes redeemed; 

(7) 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 (or, if such redemption is subject to conditions and the Company has elected to delay such Redemption Date as described in clause (5) above, after such delayed Redemption Date), and upon surrender of such Note, a new Note or
Notes in aggregate principal amount equal to the unredeemed portion thereof will be issued; and 
 (8) if fewer than all the
Notes are to be redeemed, the identification of the particular Notes (or portion thereof) to be redeemed, as well as the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such
partial redemption. 
 The notice, if sent in a manner herein provided, shall be conclusively presumed to have been given, whether or not
the holder receives such notice. In any case, failure to send such notice or any defect in the notice to the holder of any Note designated for redemption in whole or in part shall not affect the validity of the proceedings for the redemption of any
other Note. Calculation of the redemption price will be made by the Company or on its behalf by such person as the Company shall designate; provided that such calculation or the correctness thereof shall not be a duty or obligation of the
Trustee. 
 SECTION 3.04. Effect of Notice of Redemption. 

Once notice of redemption is sent in accordance with Section 3.03 and all conditions (if any) to such redemption are satisfied as and
when required (as determined by the Company in its sole discretion and taking into account any election by the Company to delay the applicable Redemption Date as provided in this Article Three) or the Company waives in writing any such conditions
that are not satisfied, (i) Notes called for redemption become due and payable on the Redemption Date (or, if the Company has delayed such Redemption Date, the applicable delayed Redemption Date (as defined below), as the case may be) and at
the redemption price plus accrued interest, if any, (ii) upon surrender to the Trustee or Paying Agent, such Notes called for redemption shall be paid at the redemption price (which shall include accrued interest thereon to the Redemption Date
(or, if the Company has delayed such Redemption Date, the applicable delayed Redemption Date, as the case may be)), except if the Redemption Date (or, if the Company has delayed such Redemption Date, the applicable delayed Redemption Date) for any
Notes is on or after a Record Date and on or before the related Interest Payment Date, the accrued and unpaid interest, if any, will be paid to the Person in whose name such Note is registered at the close of business on such Record Date, and no
additional interest will be payable to holders whose Notes are subject to redemption by the Company on such Redemption Date (or such delayed Redemption Date, as the case may be), and (iii) on and after the Redemption Date (or, if the Company
has delayed such Redemption Date, the applicable delayed Redemption Date, as the case may be) subject to Section 3.05, interest shall cease to accrue on Notes or portions thereof called for redemption. 

  
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 SECTION 3.05. Deposit of Redemption Price. 

Unless the Company shall have cancelled the applicable redemption as provided in Section 3.07, on or before 11:00 a.m. New York time on
the Redemption Date (or, if the Company has delayed such Redemption Date, the applicable delayed Redemption Date (as defined in Section 3.07), as the case may be), the Company shall deposit with the Paying Agent U.S. Legal Tender sufficient to
pay the redemption price plus accrued interest, if any, of all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess
of the amounts necessary to pay the redemption price of, and accrued and unpaid interest on, all Notes to be redeemed. 
 If the Company
complies with the preceding paragraph, then, unless the Company defaults in the payment of such redemption price plus accrued interest, if any, interest on the Notes to be redeemed will cease to accrue on and after the applicable Redemption Date
(or, if the Company has delayed such Redemption Date, the applicable delayed Redemption Date, as the case may be), whether or not such Notes are presented for payment. 

SECTION 3.06. Notes Redeemed in Part. 

If any Note is to be redeemed in part only, the notice of redemption that relates to such Note shall state the portion of the principal amount
thereof to be redeemed. Upon surrender of a Note that is redeemed or purchased in part, a new Note or Notes in principal amount equal to the unredeemed portion of the original Note or Notes shall be issued in the name of the holder thereof. 

SECTION 3.07. Conditions to Redemption; Delay of Redemption Date. 

Any redemption may, at the Company’s sole discretion, be subject to one or more conditions precedent, which shall be described in the
related notice of redemption to holders, which conditions may include, without limitation, completion of one or more equity offerings, other securities offerings or other financings, transactions or events. If such redemption is subject to
satisfaction of one or more conditions precedent, such notice to holders may (at the option of the Company) include a statement to the effect that the Redemption Date may be delayed, on one or more occasions and in the Company’s sole
discretion, either (at the Company’s option) to a date specified by the Company in a subsequent notice to holders and the Trustee (subject, if the Company shall so elect, to satisfaction of any or all such conditions or the Company’s
written waiver of any such conditions that are not satisfied) or until such time as any or all of such conditions have been satisfied or waived by the Company in writing, and that, if any such conditions shall not have been satisfied as and when
required (as determined by the Company in its sole discretion and taking into account any election by the Company to delay such Redemption Date), then (unless the Company shall have waived in writing any such conditions that are not satisfied), the
Company shall have no obligation to redeem the Notes called for redemption on such Redemption Date (as the same may have been delayed by the Company as aforesaid) and may cancel such proposed redemption and rescind any notice of such redemption. In
order to delay any Redemption Date (or to further delay any delayed Redemption Date (as defined below)), the Company shall provide written notice to the Trustee and the holders of the Notes, at least two Business Days before such Redemption Date (or
such delayed Redemption Date, as the case may be), to the effect that the Company has elected to delay such Redemption Date (or such delayed Redemption Date, as the case may be) and specifying the new Redemption Date (a “delayed Redemption
Date”) (which may, at the Company’s option, be specified as the date on which any or all conditions to such redemption are satisfied (as determined by the Company in its sole discretion) or waived by the Company as provided in this
Article Three). Upon the Company’s written request given at least five (5) Business Days prior to the date such notice shall be sent (unless the Trustee consents to a shorter period), the Trustee shall (on at the date specified in such written
request or promptly after such time) forward such notice to the holders in the Company’s name and at the Company’s expense in the same manner in which the notice of redemption was given. The Company may delay any Redemption Date on one or
more occasions. 
 If all conditions precedent (if any) to any redemption of the Notes shall not have been satisfied as and when required
(as determined by the Company in its sole discretion and taking into account any election by the Company to delay such Redemption Date) or waived by the Company in writing and the Company has not elected to delay (or further delay) the applicable
Redemption Date (or the applicable delayed Redemption Date, as the case may be), the Company shall provide written notice to the effect that the Company has elected to cancel such redemption to the holders of Notes and the Trustee prior to close of
business two Business Days prior to such Redemption Date (or such delayed Redemption Date, as the case may be). Upon the holders of Notes and the Trustee’s receipt of such notice, the notice of such redemption shall be automatically rescinded
and such redemption shall be automatically cancelled and the Company shall have no obligation 

  
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to redeem the Notes called for redemption. Upon the Company’s written request given at least five (5) Business Days prior to the date such notice shall be sent (unless the Trustee consents
to a shorter period), the Trustee shall (on at the date specified in such written request or promptly after such time) forward such notice to the holders in the Company’s name and at the Company’s expense in the same manner in which the
notice of redemption was given. 
 Any notice to holders pursuant to this Section 3.07, if sent in a manner herein provided, shall be
conclusively presumed to have been given, whether or not the holder receives such notice. In any case, failure to give such notice or any defect in the notice to the holder of any Note designated for redemption in whole or in part shall not affect
the validity of the proceedings for the delay of any Redemption Date (or the further delay of any delayed Redemption Date) or the automatic rescission of any notice of redemption or automatic cancellation of redemption of the Notes. 

ARTICLE FOUR 
 COVENANTS 

SECTION 4.01. Payment of Notes. 

The Company shall duly and punctually pay or cause to be paid the principal of (and premium, if any) and interest on the Notes in the manner
provided in the Notes and this Indenture. An installment of principal of or interest on the Notes shall be considered paid on the date it is due if the Trustee or Paying Agent (other than the Company or an Affiliate thereof) holds on that date U.S.
Legal Tender designated for and sufficient to pay the installment. Interest on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day
months. 
 The Company will pay or cause to be paid principal of, premium, if any, and interest on, Notes in global form registered in the
name of or held by the Depository or its nominee in immediately available funds to the Depository or its nominee, as the case may be, as the registered holder of such Global Note. 

The Company will pay or cause to be paid interest (including, without limitation, post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and, to the extent such payments are lawful, interest on overdue premium, if any, and overdue installments of interest, at the rate per annum borne by the Notes. 

SECTION 4.02. Maintenance of Office or Agency. 

The Company shall maintain in the United States, the office or agency required under Section 2.03. The Company shall give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the address of the Trustee set forth in Section 12.02. 
 The
Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Company will give prompt written
notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. The Company may, at its option, pay interest on the Notes by check mailed to holders of the Notes at their registered
addresses as they appear in the Registrar’s books. 
 The Company hereby initially designates the Corporate Trust Office, as such
office of the Company in accordance with Section 2.03. 
 SECTION 4.03. Corporate Existence. 

Except as otherwise permitted by Article Five, the Company shall do or cause to be done all things necessary to preserve and keep in full
force and effect its corporate existence and the corporate, partnership, limited liability company or other existence of each of its Subsidiaries in accordance with the respective organizational documents of each such Subsidiary and the material
rights (charter and statutory) and material franchises of the Company and each of its Subsidiaries; provided, however, that the Company shall not be required to preserve any such 

  
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right, franchise or corporate, partnership, limited liability company or other existence with respect to any such Subsidiary if the loss thereof would not, individually or in the aggregate, have
a material adverse effect on the business, financial condition or results of operations of the Company and its Subsidiaries taken as a whole. 

SECTION 4.04. Payment of Taxes and Other Claims. 

Each of the Company and the Guarantors that are individually Significant Subsidiaries shall pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, (a) all material taxes, assessments and governmental charges levied or imposed upon it or upon the income, profits or property of it and (b) all lawful material claims for labor,
materials and supplies which, in each case, if unpaid, might by law become a material liability or Lien upon its property; provided, however, that the Company and the Guarantors shall not be required to pay or discharge or cause to be
paid or discharged any such tax, assessment, charge or claim (a) whose amount, applicability or validity is being contested in good faith by appropriate action and for which appropriate provision has been made or (b) where the failure to
effect such payment would not individually or in the aggregate have a material adverse effect on the ability of the Company or such Guarantors to perform each of their respective obligations hereunder. 

SECTION 4.05. [Intentionally Omitted.] 

SECTION 4.06. Compliance Certificate; Notice of Default. 

(a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the Issue Date, a
certificate that need not comply with Section 12.04 signed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company stating that a review of the activities of the Company and its
Subsidiaries has been made under the supervision of the signing Officer and further stating, as to such Officer signing such certificate, that to the best of such Officer’s knowledge, the Company and each Guarantor during such preceding fiscal
year has kept, observed, performed and fulfilled each and every such covenant and no Default occurred during such year and at the date of such certificate there is no Default that has occurred and is continuing or, if such signers do know of such
Default, the certificate shall describe its status with particularity. 
 (b) The Company shall deliver to the Trustee as soon as possible
and in any event within 30 days after the Company becomes aware of the occurrence of any Default an Officer’s Certificate specifying the Default and describing its status with particularity and the action taken or proposed to be taken in
respect thereof. 
 SECTION 4.07. [Reserved]. 

SECTION 4.08. Waiver of Stay, Extension or Usury Laws. 

Each of the Company and each Guarantor covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company or such Guarantor from paying all or any portion of the principal of and/or
interest on the Notes or the Note Guarantee of any such Guarantor as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture and (to the extent that it may
lawfully do so) each hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every
such power as though no such law had been enacted. 
 SECTION 4.09. Change of Control Triggering Event. 

Within 30 days following the occurrence of a Change of Control Triggering Event, unless we have exercised our option to redeem all the Notes
as described under Section 5 of the Notes, each holder of Notes shall have the right to require that the Company make an offer to purchase such noteholder’s Notes at a purchase price in cash

  
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equal to 101% of the principal amount thereof on the date of purchase plus accrued and unpaid interest, if any, to but excluding the date of purchase. 

If the Change of Control purchase date is on or after an interest record date and on or before the related interest payment date, any accrued
and unpaid interest to the Change of Control purchase date will be paid on the Change of Control purchase date to the Person in whose name a Note is registered at the close of business on such record date. 

Within 30 days following the occurrence of a Change of Control Triggering Event, unless the Company has exercised its option to redeem all the
Notes as described under Section 5 of the Notes, the Company will mail (or deliver by electronic transmission in accordance with the applicable procedures of DTC) a notice to each holder of Notes with a copy to the Trustee (the “Change
of Control Offer”) stating: 
 (1) that a Change of Control Triggering Event has occurred and that such noteholder
has the right to require the Company to purchase such noteholder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof on the date of purchase, plus accrued and unpaid interest, if any, to but excluding the date of
purchase; 
 (2) the purchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice
is sent) (the “Change of Control Payment Date”); and 
 (3) the instructions, as determined by the Company,
consistent with the covenant described hereunder, that a noteholder must follow in order to have its Notes purchased. 
 The Company will
not be required to make a Change of Control Offer following a Change of Control Triggering Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this
Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer or if the Company has exercised its option to redeem all the Notes pursuant to the
provisions described under Section 5 of the Notes. 
 The Company will comply, to the extent applicable, with the requirements of
Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the purchase of Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations
conflict with the provisions of the covenant described hereunder, the Company will comply with the applicable securities laws and regulations and shall not be deemed to have breached our obligations under the covenant described hereunder by virtue
of our compliance with such securities laws or regulations. 
 Notwithstanding anything to the contrary herein, a Change of Control Offer
may be made in advance of a Change of Control Triggering Event, conditional upon such Change of Control Triggering Event, if a definitive agreement is in place for the Change of Control at the time of making of such Change of Control Offer. In such
case, the notice shall state that, in the Company’s (or such third party offeror’s) discretion, the Change of Control purchase date may be delayed until such time as the Change of Control Triggering Event shall have occurred, or such
repurchase may not occur and such notice may be rescinded in the event that the Change of Control Triggering Event shall not have occurred by the Change of Control purchase date, or by the Change of Control purchase date as so delayed. If any such
repurchase shall be rescinded or delayed, the Company shall provide written notice to the holders of Notes and the Trustee prior to the close of business at least two Business Days prior to the Change of Control purchase date (unless a shorter
period shall be agreed to by the Trustee). Upon the Company’s written request given at least five (5) Business Days prior to the date such notice shall be sent (unless the Trustee consents to a shorter period), the Trustee shall (on at the date
specified in such written request or promptly after such time) forward such notice to the holders in the Company’s name and at the Company’s expense in the same manner in which the notice of redemption was given. 

  
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 SECTION 4.10. [Reserved]. 

SECTION 4.11. Limitation on Non-Guarantor Subsidiary Debt. 

The Company will not permit any of its Subsidiaries that is not a Guarantor (each such Subsidiary, a
“Non-Guarantor Subsidiary”) to create, assume, incur, guarantee or otherwise become liable for any Debt (any such Debt or guarantee,
“Non-Guarantor Subsidiary Debt”), without causing such Non-Guarantor Subsidiary (other than any Excluded Subsidiary) to guarantee the payment of the
principal of, premium, if any, and interest on the Notes on an unsecured unsubordinated basis until such time as such Debt or guarantee, as the case may be, is no longer outstanding or in effect. 

The foregoing restriction shall not apply to, and there shall be excluded from Non-Guarantor
Subsidiary Debt in any computation under such restriction, Non-Guarantor Subsidiary Debt constituting: 

(1) Non-Guarantor Subsidiary Debt of a Person existing at the time such Person is merged into or
consolidated with or otherwise acquired by the Company or any Subsidiary of the Company or otherwise becomes a Subsidiary of the Company (or arising thereafter pursuant to contractual commitments entered into prior to such Person becoming a
Subsidiary) or at the time of a sale, lease or other disposition of the properties and assets of such Person (or a division thereof) as an entirety or substantially as an entirety to a Subsidiary of the Company (or arising thereafter pursuant to
contractual commitments entered into prior to such Person becoming a Subsidiary) and is assumed by such Subsidiary, other than any increase in the amount of such Non-Guarantor Subsidiary Debt (including any
increase in the amount of such Non-Guarantor Subsidiary Debt arising pursuant to contractual commitments entered into prior to such acquisition) incurred in contemplation thereof; provided that any such
Non-Guarantor Subsidiary Debt is not guaranteed by any other Subsidiary of the Company (other than any Guarantee existing at the time of such merger, consolidation or sale, lease or other disposition of
properties and assets and that was not issued in contemplation thereof); 
 (2) Non-Guarantor
Subsidiary Debt owed to the Company or any Subsidiary or under guarantees of any such Non-Guarantor Subsidiary Debt; 

(3) Non-Guarantor Subsidiary Debt with respect to a Permitted Receivables Financing; 

(4) Non-Guarantor Subsidiary Debt permitted to be secured by Liens permitted by Section 4.13(5)
and (11) herein (whether or not such Non-Guarantor Subsidiary Debt is in fact secured by such Liens) and any Guarantees thereof; 

(5) (x) Non-Guarantor Subsidiary Debt in an aggregate amount not to exceed $1,500 million and (y) any extension, renewal, replacement or
refunding of any Guarantor Subsidiary Debt (or any guarantee thereof) referred to in the foregoing clause (x); provided that any such Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace, refinance or refund shall
be incurred within 270 days of the maturity, retirement or other repayment or prepayment (including any such repayment pursuant to amortization obligations with respect to such Non-Guarantor Subsidiary Debt) of the Non-Guarantor Subsidiary Debt
referred to in clause (x) and the outstanding amount of the Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace, refinance or refund shall not exceed the outstanding amount of Non-Guarantor Subsidiary Debt being extended,
renewed, substituted, replaced, refinanced or refunded plus any premiums or fees (including tender premiums) or other reasonable amounts payable, plus the amount of fees, expenses and other costs incurred, in connection with any such extension,
renewal, substitution, replacement, refinancing or refunding; or 
 (6) Non-Guarantor Subsidiary
Debt outstanding on the Issue Date and any extension, renewal, substitution, replacement, refinancing or refunding of any Non-Guarantor Subsidiary Debt existing on the Issue Date or referred to in clauses (1),
(2), (3) or (4); provided that any Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace, refinance or refund shall be incurred within 270 days of the maturity, retirement or
other repayment or prepayment (including any such repayment pursuant to amortization obligations with respect to such Non-Guarantor Subsidiary Debt) of the Non-Guarantor
Subsidiary Debt referred to in this clause or clauses (1), (2), (3) or (4) above and the outstanding amount of the Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace,
refinance or refund shall not exceed the outstanding amount of Non-Guarantor Subsidiary Debt being extended, renewed, substituted, replaced, refinanced or refunded plus any premiums or fees (including tender
premiums) or other reasonable amounts payable, plus the amount of fees, expenses and other costs incurred, in connection with any such extension, renewal, substitution, replacement, refinancing or refunding. 

Notwithstanding the restrictions described above, any Non-Guarantor Subsidiary of the Company may
create, assume, incur, guarantee or otherwise become liable for Non-Guarantor Subsidiary Debt that would otherwise be subject to the restrictions set forth in the first paragraph of this covenant, without
guaranteeing the notes, if after giving effect thereto, the aggregate amount of Non-Guarantor Subsidiary Debt outstanding at such time (excluding, for purposes of determining such amount, any Non-Guarantor Subsidiary Debt (or any guarantee thereof) permitted 

  
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as described in clauses (1)-(6) of the preceding paragraph) plus the aggregate principal amount of Debt secured by Liens on Properties then outstanding (excluding, for purposes of
determining such amount, any such Debt secured by Liens described in Section 4.13(1)-(11) herein) that are not equally and ratably secured with the outstanding Notes (or secured on a basis junior to the outstanding Notes) plus all
Attributable Debt of the Company and the Subsidiaries of the Company in respect of Sale/ Leaseback Transactions with respect to Properties (with the exception of such transactions that are permitted under Section 4.12(1)-(4) herein), in each
case without duplication, would not exceed the greater of (x) $1,500 million and (y) the amount that would cause the Consolidated Priority Debt Ratio to exceed 2.50 to 1.00. Any Subsidiary also may, without guaranteeing the payment of the
principal of, premium, if any, and interest on the Notes, extend, renew, substitute, replace, refinance or refund any Non-Guarantor Subsidiary Debt permitted pursuant to the preceding sentence; provided
that any Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace, refinance or refund shall be incurred within 270 days of the maturity, retirement or other repayment or prepayment
(including any such repayment pursuant to amortization obligations with respect to such Non-Guarantor Subsidiary Debt) of the Non-Guarantor Subsidiary Debt being
extended, renewed, substituted, replaced, refinanced or refunded and the outstanding amount of the Non-Guarantor Subsidiary Debt incurred to so extend, renew, substitute, replace, refinance or refund shall not
exceed the outstanding amount of Non-Guarantor Subsidiary Debt being extended, renewed, substituted, replaced, refinanced or refunded plus any premiums or fees (including tender premiums) or other reasonable
amounts payable, plus the amount of fees, expenses and other costs incurred, in connection with any such extension, renewal, substitution, replacement, refinancing or refunding. 

For purposes of the foregoing covenant, in the event that any Non-Guarantor Subsidiary Debt meets the
criteria of more than one of the types of Non-Guarantor Subsidiary Debt described above, the Company, in its sole discretion, will classify, and may reclassify, such
Non-Guarantor Subsidiary Debt and only be required to include the amount and type of such Non-Guarantor Subsidiary Debt in one of the numbered paragraphs above or the
immediately preceding paragraph, and Non-Guarantor Subsidiary Debt may be divided and classified and reclassified into more than one of the types of Non-Guarantor
Subsidiary Debt described above. In addition, for purposes of calculating compliance with the foregoing covenant, in no event will the amount of any Non-Guarantor Subsidiary Debt be required to be included
more than once despite the fact more than one Person is or becomes liable with respect to any related Debt (for example, and for avoidance of doubt, in the case where more than one Subsidiary incurs
Non-Guarantor Subsidiary Debt or otherwise becomes liable for such Non-Guarantor Subsidiary Debt, the amount of such
Non-Guarantor Subsidiary Debt shall only be included once for purposes of such calculations). 
 In
addition, the restrictions described above shall not restrict any guarantees by the Company or its Subsidiaries of operating leases of joint ventures. 

SECTION 4.12. Limitation on Sale/Leaseback Transactions. 

The Company will not, and will not permit any Subsidiary of the Company to, enter into any Sale/ Leaseback Transaction with respect to any
Property unless: 
 (1) the Sale/Leaseback Transaction is solely with the Company or another Subsidiary of the Company; 

(2) the lease is for a period not in excess of 36 months (or which may be terminated by the Company or such Subsidiary),
including renewals; 
 (3) the Sale/Leaseback Transaction was entered into prior to the Issue Date or the Company or such
Subsidiary would (at the time of entering into such arrangement) be entitled as described in Section 4.13(1)-(11) herein without equally and ratably securing the Notes then outstanding under this Indenture, to create, incur, issue, assume or
guarantee Debt secured by a Lien on such Property in the amount of the Attributable Debt arising from such Sale/Leaseback Transaction; 

(4) the Company or such Subsidiary within 365 days after the sale of such Property in connection with such Sale/Leaseback
Transaction is completed, applies an amount equal to the net proceeds of the sale of such Property to (a) the retirement of Notes, other Debt of the Company ranking on a parity with the Notes (or the Guarantees of the Notes) or Debt of a
Subsidiary of the Company, (b) the purchase, construction, development, expansion or improvement of Property; or (c) a combination thereof; or 

  
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 (5) (a) the Attributable Debt of the Company and Subsidiaries of the Company
in respect of such Sale/ Leaseback Transaction and all other Sale/Leaseback Transactions entered into after the Issue Date (other than any such Sale/Leaseback Transaction as would be permitted as described in clauses (1)-(4) of this sentence),
plus 
 (b) the aggregate amount of Non-Guarantor Subsidiary Debt outstanding at such time
(excluding, for the purposes of determining such amount, any Non-Guarantor Subsidiary Debt (or any guarantee thereof) permitted as described in clauses (1)-(6) of the second paragraph under “
— Limitation on Non-Guarantor Subsidiary Debt”), plus 
 (c) the aggregate
principal amount of Debt secured by Liens on Properties then outstanding (excluding, for the purposes of determining such amount, any such Debt secured by Liens described in Section 4.13(1)-(11)) that are not equally and ratably secured with
the outstanding Notes (or secured on a basis junior to the outstanding Notes), in each case without duplication, would not exceed the greater of (x) $1,500 million and (y) the amount that would cause the Consolidated Priority Debt Ratio to
exceed 2.50 to 1.00. 
 SECTION 4.13. Limitation on Liens. 

The Company will not, and will not permit any of its Subsidiaries to, create, incur, issue, assume or guarantee any Debt secured by a Lien
upon (a) any Property of the Company or such Subsidiary, or (b) any shares of Capital Stock or other securities issued by any Subsidiary of the Company and owned by the Company or any Subsidiary of the Company, whether owned on the Issue
Date or thereafter acquired, without effectively providing concurrently that the Notes then outstanding under this Indenture are secured equally and ratably with or, at the option of the Company, prior to such Debt so long as such Debt shall be so
secured. 
 The foregoing restriction shall not apply to, and there shall be excluded from Debt (or any guarantee thereof) in any
computation under such restriction, Debt (or any guarantee thereof) secured by: 
 (1) Liens on any property existing at the
time of the acquisition thereof; 
 (2) Liens on property of a Person existing at the time such Person is merged into or
consolidated with the Company or a Subsidiary of the Company or at the time of a sale, lease or other disposition of the properties of such Person (or a division thereof) as an entirety or substantially as an entirety to the Company or a Subsidiary
of the Company; provided that any such Lien does not extend to any property owned by the Company or any Subsidiary of the Company immediately prior to such amalgamation, merger, consolidation, sale, lease or disposition; 

(3) Liens on property of a Person existing at the time such Person becomes a Subsidiary of the Company; 

(4) Liens in favor of the Company or a Subsidiary of the Company; 

(5) (x) Liens to secure all or part of the cost of acquisition, construction, development or improvement of the underlying
property, or to secure Debt in an aggregate principal amount not to exceed $650 million incurred to provide funds for any such purpose; provided that the commitment of the creditor to extend the credit secured by any such Lien shall have
been obtained no later than 270 days after the later of (a) the completion of the acquisition, construction, development or improvement of such property or (b) the placing in operation of such property; provided, further,
that such Liens do not extend to any property other than such property subject to acquisition, construction, development or improvement and accessions thereto and improvements thereon and (y) Liens securing any extension, renewal, replacement or
refunding of any Debt (or any guarantee thereof) secured by a Lien referred to in the foregoing clause (x); provided that any Lien created or incurred in connection with such extension, renewal, replacement or refunding of such Debt (or any
guarantee thereof) shall be created within 270 days of the repaying the Debt (or any guarantee thereof) secured by the Lien referred to in the foregoing clause (x) and the principal amount of the Debt (or any guarantee thereof) secured thereby and
not otherwise authorized by clause (x) shall not exceed the principal amount of such Debt (or any guarantee thereof), plus any premium or fee payable in connection with any such extension, renewal, replacement or refunding, so secured at the time of
such extension, renewal, replacement or refunding; 
 (6) Liens existing on the Issue Date or Liens securing an extension,
renewal, replacement or refunding of any Debt (or any guarantee thereof) secured by a Lien existing on the Issue Date, or referred to in clauses 

  
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(1)-(3) or (10); provided that any Lien created or incurred in connection with such extension, renewal, replacement or refunding of such Debt (or any guarantee thereof) shall be created
within 270 days of repaying the Debt (or any guarantee thereof) secured by a Lien referred to in clauses (1)-(3) or (10) and the principal amount of the Debt (or any guarantee thereof) secured thereby and not otherwise authorized by clauses
(1)-(3) or (10) shall not exceed the principal amount of such Debt (or any guarantee thereof), plus any premium or fee payable in connection with any such extension, renewal, replacement or refunding, so secured at the time of such extension,
renewal, replacement or refunding; 
 (7) Liens in favor of the Notes and the Guarantees; 

(8) Permitted Liens; 

(9) Liens securing Debt pursuant to: 

(x) the revolving credit facility under the Credit Agreement and any other Credit Facilities that are revolving credit facilities, in an
aggregate principal amount at any time outstanding under this clause (x) not to exceed $1,500 million; 
 (y) other Credit
Facilities (including the term loans under the Credit Agreement), which may, for the avoidance of doubt, include revolving credit facilities (including an increase in a revolving credit facility incurred under clause (x) above), in an aggregate
principal amount at any time outstanding under this clause (y) not to exceed an amount equal to $7,036 million plus the aggregate amount of any increase to the term loan A facilities under the Credit Agreement, if any, following the Issue
Date in connection with the TLA Increase described in the Prospectus under “Prospectus Summary — Recent Developments — Increase and Extension of Term Loan A, the Revolving Credit Facility and Credit Agreement
Amendments”; and 
 (z) (I) the 2023 Secured Notes in an aggregate principal amount at any time outstanding not to exceed an amount
equal to (A) $1,875 million less (B) the aggregate principal amount of 2023 Senior Secured Notes repurchased, redeemed or refinanced on or after the Issue Date in connection with the TLA Increase described in the Prospectus under
“Prospectus Summary — Recent Developments — Increase and Extension of Term Loan A, the Revolving Credit Facility and Credit Agreement Amendments” and the convertible notes offering described in the Prospectus under
“Prospectus Summary — Recent Developments — Convertible Notes Offering” and (II) Liens securing any extension, renewal, replacement or refunding of the 2023 Secured Notes (or any guarantee thereof) not repurchased,
redeemed or refinanced pursuant to the foregoing clause (I)(B); provided that any Lien created or incurred in connection with such extension, renewal, replacement or refunding of the 2023 Secured Notes (or any guarantee thereof) shall be
created within 270 days of the repaying the 2023 Secured Notes (or any guarantee thereof) secured by the Lien referred to in the foregoing clause (I) and the principal amount of the Debt (or any guarantee thereof) secured thereby and not
otherwise authorized by clause (I) shall not exceed the principal amount of the 2023 Secured Notes (or any guarantee thereof), plus any premium or fee payable in connection with any such extension, renewal, replacement or refunding, so secured
at the time of such extension, renewal, replacement or refunding; 
 (10) Liens on property of
Non-Guarantor Subsidiaries securing Non-Guarantor Subsidiary Debt; and 

(11) Liens incurred in the ordinary course of business securing Debt with an aggregate principal amount at any time outstanding
not to exceed $200 million. 
 Notwithstanding the restrictions described above, the Company and any Subsidiaries of the Company may
create, incur, issue, assume or guarantee Debt secured by Liens without equally and ratably securing the Notes then outstanding if, at the time of such creation, incurrence, issuance, assumption or guarantee, after giving effect thereto and to the
retirement of any Debt which is concurrently being retired, the aggregate amount of all such Debt secured by Liens which would otherwise be subject to such restrictions (excluding, for the purposes of determining such amount, any Debt (or any
guarantee thereof) secured by Liens permitted as described in clauses (1)-(11) of the immediately preceding paragraph) plus the aggregate amount of Non-Guarantor Subsidiary Debt outstanding at such time
(excluding, for the purposes of determining such amount, any Non-Guarantor Subsidiary Debt (or any guarantee thereof) permitted as described in Section 4.11(1)-(6) herein) plus all Attributable
Debt of the Company and the Subsidiaries of the Company in respect of Sale/ Leaseback Transactions with respect to Properties (with the exception of such transactions that are permitted under, in each case without duplication,
Section 4.12(1)-(4) herein) would not exceed the greater of (x) $1,500 million and (y) the amount that would cause the Consolidated Priority Debt Ratio to exceed 2.50 to 1.00. The Company or any of its Subsidiaries also may, without
equally and ratably securing the Notes, extend, renew, substitute, replace, refinance or refund any Debt secured by Liens permitted pursuant to the preceding sentence; provided that any Debt incurred to so extend, renew, substitute, replace,
refinance or refund shall be incurred within 270 days of the maturity, retirement or other repayment or prepayment (including any such repayment pursuant to amortization obligations) of the Debt secured by Liens being extended, renewed, substituted,
replaced, refinanced or refunded and the outstanding amount of Debt incurred to so extend, renew, substitute, replace, refinance or refund shall not exceed the outstanding amount of the Debt secured by Liens being extended, renewed, substituted,
replaced, refinanced or refunded plus any premiums or fees (including tender premiums) or other reasonable amounts payable, plus the amount of fees, expenses and other costs incurred, in connection with any such extension, renewal, substitution,
replacement, refinancing or refunding. 
 For purposes of the foregoing covenant, in the event that any Lien meets the criteria of more than
one of the types of Liens described above, the Company, in its sole discretion, will classify, and may reclassify, such Liens and only be required to include the amount and type of such Liens in one of the numbered paragraphs above or the
immediately preceding paragraph, and Liens may be divided and classified and reclassified into more than one of the types of Liens described above. In addition, for purposes of calculating compliance with the foregoing covenant, in no event will the
amount of any Debt or Liens securing any Debt be required to be included more than once despite the fact more than one Person is or becomes liable with respect to such Debt and despite the fact such Debt is secured by the assets of more than one
Person (for example, and for avoidance of doubt, in the case where there are Liens on assets of one or more of the Company and its Restricted Subsidiaries securing any Debt, the amount of such Debt secured shall only be included once for purposes of
such calculations). 

  
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 For the avoidance of doubt, the loans and commitments outstanding under the Credit Agreement
and the principal amount of 2023 Secured Notes facility outstanding on the Issue Date shall be secured pursuant to Section 4.13(9) above and may not be reclassified. 

SECTION 4.14. SEC Reports. 

As long as the Notes are outstanding, the Company shall file with the Trustee, within 15 days after the Company has filed the same with the
SEC, copies of the annual reports and of the information, documents and reports (or copies of such portions of any of the foregoing as the SEC may prescribe) that the Company may be required to file with the SEC pursuant to Section 13 or
15(d) of the Exchange Act (other than confidential filings, documents subject to confidential treatment and correspondence with the SEC); provided that the electronic filing of the foregoing reports by the Company on the SEC’s EDGAR
system (or any successor system) shall be deemed to satisfy the Company’s delivery obligations to the Trustee, it being understood that the Trustee shall not be responsible for determining whether such filings have been made. The Company shall
also comply with the other provisions of TIA § 314(a), to the extent applicable. Delivery of any reports, information and documents to the Trustee will be for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee will be entitled to rely
exclusively on Officer’s Certificates). 
 ARTICLE FIVE 

MERGER AND CONSOLIDATION 

SECTION 5.01. Consolidation, Merger, Sale or Conveyance. 

(a) The Company may not (i) consolidate with or merge into any other entity or (ii) convey, transfer or lease all or substantially
all of the properties and assets of the Company and its subsidiaries taken as a whole, unless: 
 (1) the Company is the successor entity,
or the successor or transferee entity, if other than the Company, is a Person (if such Person is not a corporation, then such successor or transferee shall include a corporate co-issuer) organized and existing
under the laws of the United States of America, any State thereof or the District of Columbia, and expressly assumes by a supplemental indenture executed and delivered to the Trustee, the due and punctual payment of the principal of, any premium on
and any interest on all the outstanding Notes and the performance of every covenant and obligation in this Indenture to be performed or observed by the Company; 

(2) immediately after giving effect to the transaction, no Event of Default, as defined in this Indenture, and no event which, after notice or
lapse of time or both, would become an Event of Default, has happened and is continuing; and 
 (3) the Company has delivered to the Trustee
an Officer’s Certificate and an Opinion of Counsel, each in the form required by this Indenture and stating that such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture comply with the foregoing provisions relating to such transaction, and constitutes the legal, valid and binding obligation of the Company or successor entity, as applicable, subject to customary exceptions.

 In case of any such consolidation, merger, conveyance or transfer (but not lease), the successor entity will succeed to and be
substituted for the Company as obligor on the Notes, with the same effect as if it had been named in this Indenture as the Company. 
 (b)
No Guarantor may consolidate with or merge into any other entity, unless: 
 (1) the Company or a Guarantor is the successor entity or the
successor or transferee entity, if not such Guarantor prior to such consolidation or merger, shall be a Person organized and existing under the laws of the jurisdiction under which such Guarantor was organized or under the laws of the United States
of America, any State thereof or the District of Columbia, and expressly assumes, by a supplemental indenture executed and delivered to 

  
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the Trustee in form reasonably satisfactory to the Trustee, all the obligations of such Guarantor under its Guarantee; provided, however, that the foregoing shall not apply in the case of a
Guarantor (x) that has been, or will be as a result of the subject transaction, disposed of in its entirety to another Person (other than to the Company or an Affiliate of the Company), whether through a merger or consolidation or
(y) that, as a result of the disposition of all or a portion of its Capital Stock, ceases to be a Subsidiary; 
 (2) immediately after
giving effect to the transaction, no Event of Default, as defined in this Indenture, and no event which, after notice or lapse of time or both, would become an Event of Default, has happened and is continuing; and 

(3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each in the form required by this
Indenture and stating that such consolidation or merger and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with the foregoing provisions relating to such transaction and constitutes
the legal, valid and binding obligation of the Guarantor or successor entity, as applicable, subject to customary exceptions. 

Notwithstanding clauses (a) and (b) above, (x) clauses (a)(2)-(3) and (b)(2)-(3) of this Section 5.01 will not apply to a
merger, transfer or conveyance or other disposition of assets between or among the Company and the Guarantors and (y) this Section 5.01 will not apply to any Subsidiary consolidating with, merging into or transferring all or part of its
properties and assets to the Company and/or one or more Guarantors. 
 In addition, notwithstanding the foregoing, any Guarantor may
(x) merge with an Affiliate of the Company solely for the purpose of reincorporating the Guarantor in the United States, any state thereof, the District of Columbia or any territory thereof or (y) convert into a corporation, partnership,
limited partnership, limited liability company or trust organized or existing under the laws of the jurisdiction of organization of such Guarantor. 

ARTICLE SIX 
 DEFAULT AND REMEDIES

 SECTION 6.01. Events of Default. 

Each of the following is an Event of Default with respect to the Notes (each an “Event of Default”): 

(1) a default in the payment of interest on the Notes when due, continued for 30 days; 

(2) a default in the payment of principal of any Note when due at its Stated Maturity, upon redemption, upon required purchase,
upon declaration of acceleration or otherwise; 
 (3) failure by the Company to comply with its obligations under Article
Five and such failure continues for a period of 60 days; 
 (4) failure by the Company or any Guarantor, as the case may be,
to comply for 90 days after written notice with any of its obligations in Section 4.14 herein; 
 (5) failure by the
Company or any Guarantor to comply for 60 days after notice with its other agreements contained in this Indenture; 
 (6)
Debt of the Company, any Guarantor or any Significant Subsidiary is not paid within any applicable grace period after final maturity or is accelerated by the holders thereof because of a default and the total amount of such Debt unpaid or
accelerated exceeds $500.0 million (the “cross acceleration provision”); 

  
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 (7) (a) the Company or a Significant Subsidiary, pursuant to or within the
meaning of any Bankruptcy Law: 
 (i) commences a voluntary case or proceeding to be adjudicated bankrupt or insolvent; 

(ii) consents to the entry of judgment, decree or order for relief against it in an involuntary case or proceeding to be
adjudicated bankrupt or insolvent; 
 (iii) consents to the appointment of a Custodian of it or for substantially all of its
property; 
 (iv) makes a general assignment for the benefit of its creditors; 

(v) consents to or acquiesces in the institution of a bankruptcy or an insolvency proceeding against it; or 

(b) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief in an involuntary case against the Company or a Significant Subsidiary pursuant to or within the meaning of
any Bankruptcy Law; 
 (ii) appoints a Custodian for all or substantially all of the property of the Company or a Significant
Subsidiary pursuant to or within the meaning of any Bankruptcy Law; or 
 (iii) orders the winding up or liquidation of the
Company or a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law; 
 and in the case of each of (i), (ii) and
(iii) such order, decree or relief remains unstayed and in effect for 60 consecutive days; 
 (8) any final judgment or
decree for the payment of money (other than judgments which are covered by enforceable insurance policies issued by solvent carriers) in excess of $500.0 million is entered against the Company, any Guarantor or any Significant Subsidiary,
remains outstanding for a period of 60 consecutive days following such judgment becoming final and is not discharged, waived or stayed within 30 days after notice (the “judgment default provision”); or 

(9) a Guarantee of the Notes ceases to be in full force and effect (other than in accordance with the terms of such Guarantee)
or a Guarantor denies or disaffirms its obligations under its Guarantee of the Notes. 
 However, a default under clauses (4), (5) and
(8) will not constitute an Event of Default until the Trustee or the holders of 30% in principal amount of the outstanding Notes notify the Company (with a copy to the Trustee if given by the holders) of the default and the Company does not
cure such default within the time specified in clause (4), (5) or (8), as applicable, of this paragraph after receipt of such notice. Any default for the failure to deliver any report within the time periods prescribed in the covenant described
under Section 4.14 or to deliver any notice or certificate pursuant to any other provision of this Indenture shall be deemed to be cured upon the subsequent delivery of any such report, notice or certificate, even though such delivery is not
within the prescribed period specified. 
 SECTION 6.02. Acceleration. 

If an Event of Default (other than an Event of Default with respect to the Company of the type described in clause (7) of
Section 6.01) occurs and is continuing, the Trustee by notice to the Company, or the holders of at least 

  
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30% in principal amount of the outstanding Notes by notice to the Company and the Trustee, may declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Notes
to be due and payable. Upon such a declaration, such principal, premium, if any, and accrued and unpaid interest will be due and payable immediately. 

In the event of any Event of Default specified under clause (6), such Event of Default and all consequences thereof (excluding any resulting
payment default, other than as a result of acceleration of Notes) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the holders of Notes, if within 30 days after such Event of Default arose:
(a) holders of Notes have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (b) the default that is the basis for such Event of Default has been cured. 

If an Event of Default with respect to the Company of the type described in clause (7) of Section 6.01 occurs and is continuing, the
principal of, premium, if any, and accrued and unpaid interest on all the Notes will become and be immediately due and payable without any declaration or other act on the part of the Trustee or any holders. 

SECTION 6.03. Other Remedies. 

If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the
payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
 The
Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. To the fullest extent permitted by applicable law, a delay or omission by the Trustee or any noteholder in exercising
any right or remedy accruing upon a Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Default, no remedy is exclusive of any other remedy and all available remedies are cumulative to the fullest
extent permitted by applicable law. 
 SECTION 6.04. Waiver of Past Defaults. 

The holders of a majority in principal amount of the outstanding Notes by notice to the Trustee may (a) waive, by their consent
(including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), an existing Default or Event of Default and its consequences, except a Default or Event of Default in the payment of
the principal of, or premium, if any, or interest on a Note, and (b) rescind any such acceleration with respect to the Notes and its consequences if (1) rescission would not conflict with any judgment or decree of a court of competent
jurisdiction and (2) all existing Events of Default, other than the nonpayment of the principal of, premium, if any, and interest on the Notes that have become due solely by such declaration of acceleration, have been cured or waived. When a
Default or Event of Default is waived, it is deemed cured, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. 

SECTION 6.05. Control by Majority. 

The holders of not less than a majority in principal amount of the outstanding Notes may direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. Subject to Section 7.01, however, the Trustee may refuse to follow any direction that conflicts with any law or this Indenture, that
the Trustee determines may be unduly prejudicial to the rights of any other noteholder, or that may involve the Trustee in personal liability; provided that the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction. 
 In the event the Trustee takes any action or follows any direction pursuant to this Indenture, the
Trustee shall be entitled to indemnification or security satisfactory to it in its sole discretion against any loss or expense caused by taking or not taking such action or following such direction. 

  
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 SECTION 6.06. Limitation on Suits. 

Except to enforce the right to receive payment of principal, premium, if any, or interest not paid 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
written notice that an Event of Default is continuing; 
 (2) holders of at least 30% in principal amount of the outstanding
Notes have requested the Trustee in writing to pursue the remedy; 
 (3) such holders have offered the Trustee security or
indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (4) the Trustee has not complied with such
request within 60 days after the receipt thereof and the offer of security or indemnity; and 
 (5) holders of a majority in
principal amount of the outstanding Notes have not given the Trustee a written direction inconsistent with such request within such 60-day period. 

A noteholder may not use this Indenture to affect, disturb or prejudice the rights of another noteholder or to obtain a preference or priority
over such other noteholder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such noteholders). 

SECTION 6.07. Rights of Holders To Receive Payment. 

Notwithstanding any other provision of this Indenture, the right of any holder to receive payment of principal of and interest on a Note, on
or after the respective due dates expressed in such Note, 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 the holder. 

SECTION 6.08. Collection Suit by Trustee. 

If a Default in payment of principal or interest specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may
recover judgment in its own name and as trustee of an express trust against the Company or any other obligor on the Notes for the whole amount of principal and accrued interest remaining unpaid, together with interest on overdue principal and, to
the extent that payment of such interest is lawful, interest on overdue installments of interest, in each case at the rate per annum borne by the Notes 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 may 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 compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and the noteholders allowed in any judicial proceedings
relating to the Company, its creditors or its property and shall be entitled and empowered to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same, and any Custodian in any such
judicial proceedings is hereby authorized by each noteholder 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 noteholders, to pay to the Trustee any amount due to it
for the compensation, expenses, disbursements and advances of the Trustee, its agent and counsel, and any other amounts due the Trustee under Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any holder thereof, or to authorize the

  
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Trustee to vote in respect of the claim of any noteholder in any such proceeding. The Trustee shall be entitled to participate as a member of any official committee of creditors in the matters as
it deems necessary or advisable. 
 SECTION 6.10. Priorities. 

If the Trustee collects any money or property pursuant to this Article Six, it shall pay out the money or property in the following order:

 First: to the Trustee for amounts due under Section 7.07; 

Second: to holders for interest accrued on the Notes, ratably, without preference or priority of any kind, according to
the amounts due and payable on the Notes for interest; 
 Third: to holders for principal amounts due and unpaid on
the Notes, ratably, without preference or priority of any kind, according to the amounts due and payable on the Notes for principal; and 

Fourth: to the Company or, if applicable, the Guarantors, as their respective interests may appear. 

The Trustee, upon prior notice to the Company, may fix a record date and payment date for any payment to noteholders 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 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 and expenses, 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 the Company, a
suit by a holder pursuant to Section 6.07, or a suit by a holder or holders of more than 10% in principal amount of the outstanding Notes. 

ARTICLE SEVEN 
 TRUSTEE 

SECTION 7.01. Duties of Trustee. 

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

(b) Except during the continuance of an Event of Default: 

(1) The Trustee need perform only those duties as are specifically set forth herein or in the TIA and no duties, covenants,
responsibilities or obligations shall be implied in this Indenture against the Trustee. 
 (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 (including Officer’s Certificates) or opinions (including Opinions of Counsel) furnished to
the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the
certificates and opinions 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). 

  
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 (c) Notwithstanding anything to the contrary herein, the Trustee may not be relieved from
liability 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 shall not be
liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts. 

(3) The Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05. 
 (d) No provision of this Indenture shall require the Trustee to expend or risk
its own funds or otherwise incur any liability in the performance of any of its duties hereunder or to take or omit to take any action under this Indenture or take any action at the request or direction of holders if it shall have reasonable grounds
for believing that repayment of such funds is not assured to it. 
 (e) Whether or not therein expressly so provided, every provision of
this Indenture that in any way relates to the Trustee is subject to this Section 7.01. 
 (f) The Trustee shall not be liable for
interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

(g) In the absence of bad faith, negligence or willful misconduct on the part of the Trustee, the Trustee shall not be responsible for the
application of any money by any Paying Agent other than the Trustee. 
 SECTION 7.02. Rights of Trustee. 

Subject to Section 7.01: 

(a) The Trustee may rely conclusively on any document believed by it to be genuine and to have been signed or presented by the
proper Person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee acts or
refrains from acting, it may require an Officer’s Certificate and an Opinion of Counsel, which shall conform to the provisions of Section 12.05. The Trustee shall not be liable for any action it takes or omits to take in good faith in
reliance on such certificate or opinion. 
 (c) The Trustee may act through its attorneys and agents and shall not be
responsible for the misconduct or negligence of any agent or attorney appointed with due care. 
 (d) The Trustee shall not
be liable for any action it takes or omits to take in good faith which it reasonably believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or
negligence. 
 (e) The Trustee may consult with counsel of its selection and the advice or opinion of such counsel as to
matters of law shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

(f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the
request, order or direction of any of the holders pursuant to the provisions of this Indenture, unless such holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be
incurred therein or thereby. 

  
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 (g) The Trustee shall not be bound to make any investigation into the facts
or matters stated in any resolution, certificate (including any Officer’s Certificate), statement, instrument, opinion (including any Opinion of Counsel), notice, request, direction, consent, order, bond, debenture, or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 

(h) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties
hereunder. 
 (i) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as
duties. 
 (j) The Trustee shall not be deemed to have notice of any 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. 

(k) 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 in each of its capacities hereunder (including as Agents), and to each agent, custodian and other Person employed to act hereunder. 

(l) In no event shall the Trustee be responsible or liable for special, indirect, punitive 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. 

(m) 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, its
Subsidiaries or their respective Affiliates 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 or resign. Any Agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 

SECTION 7.04. Trustee’s Disclaimer. 

The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture, the Note Guarantees or
the Notes, it shall not be accountable for the Company’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Company in this Indenture or any document issued in connection with the sale of Notes or any
statement in the Notes other than the Trustee’s certificate of authentication. The Trustee makes no representations with respect to the effectiveness or adequacy of this Indenture. 

SECTION 7.05. Notice of Default. 

If a Default occurs and is continuing is actually known to a Responsible Officer of the Trustee, the Trustee shall mail (or deliver by
electronic transmission in accordance with the applicable procedures of DTC) to each holder notice of the Default within 90 days after being notified by the Company. Except in the case of a Default in payment of principal of, premium, if any, or
interest on, any Notes, including an accelerated payment and the failure to make payment on the Change of Control Payment Date pursuant to a Change of Control Offer, the Trustee may withhold the notice if the Trustee determines that withholding the
notice is not opposed to the interest of the holders. 

  
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 SECTION 7.06. Reports by Trustee to Holders. 

Within 60 days after each [●] beginning with [●], 2018, the Trustee shall, to the extent that any of the events described in TIA
§ 313(a) occurred within the previous twelve months, but not otherwise, mail to each noteholder a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply with TIA
§§ 313(b), 313(c) and 313(d). 
 The Company shall notify the Trustee if the Notes become listed on any securities exchange
or of any delisting thereof. 
 SECTION 7.07. Compensation and Indemnity. 

The Company shall pay to the Trustee from time to time such compensation as the Company and the Trustee shall from time to time agree in
writing for its services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket disbursements, expenses and advances (including reasonable fees and expenses of counsel) incurred or made by it in addition to the compensation for its services,
except any such disbursements, expenses and advances as shall have been caused by the Trustee’s own negligence, bad faith or willful misconduct. Such expenses shall include the reasonable fees and expenses of the Trustee’s agents and
counsel. 
 The Company and the Guarantors, jointly and severally, shall indemnify each of the Trustee or any predecessor Trustee and its
agents, employees, officers, stockholders and directors for, and hold them harmless against, any and all loss, liability or expense paid or incurred by them except for such actions to the extent caused by any negligence, bad faith or willful
misconduct on their part, arising out of or in connection with the acceptance or administration of this trust including the reasonable costs and expenses of defending themselves against or investigating any claim or liability in connection with the
exercise or performance of any of the Trustee’s rights, powers or duties hereunder. The Trustee shall notify the Company promptly of any claim asserted against the Trustee or any of its agents, employees, officers, stockholders and directors of
which a Responsible Officer has received notice for which it may seek indemnity. The Company may, subject to the approval of the Trustee (which approval shall not be unreasonably withheld), defend the claim and the Trustee shall cooperate in the
defense. The Trustee and its agents, employees, officers, stockholders and directors subject to the claim may have separate counsel at any one time and the Company shall pay the reasonable fees and expenses of such counsel; provided,
however, that the Company will not be required to pay such fees and expenses if, subject to the approval of the Trustee (which approval shall not be unreasonably withheld), it assumes the Trustee’s defense and there is no conflict of
interest between the Company, on the one hand, and the Trustee and its agents, employees, officers, stockholders and directors subject to the claim, on the other hand, in connection with such defense as reasonably determined by the Trustee. The
Company need not pay or indemnify for any settlement made without its written consent (which consent shall not be unreasonably withheld). The Company need not reimburse any expense or indemnify against any loss, damage, claim, liability or expense
to the extent caused by any negligence, bad faith or willful misconduct of the Trustee, any predecessor Trustee, or any of their respective employees, officers, stockholders or directors. 

To secure the Company’s payment obligations in this Section 7.07, the Trustee shall have a lien prior to the Notes against all money
or property held or collected by the Trustee, in its capacity as Trustee, except funds held in trust for the payment of principal of, or premium, if any, or interest on, or other amounts due under, the Notes or the Note Guarantees. 

When the Trustee incurs expenses or renders services after a Default specified in Section 6.01(7) occurs, such expenses and the
compensation for such services shall be paid to the extent allowed under any Bankruptcy Law. 
 Notwithstanding any other provision in this
Indenture, the foregoing provisions of this Section 7.07 shall survive the satisfaction and discharge of this Indenture or the resignation or removal of the Trustee. 

“Trustee” for the purposes of this Section 7.07 shall include any predecessor Trustee and the Trustee in each of its capacities
hereunder (including as Agent) and each agent, custodian and other person employed to act 

  
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hereunder; provided, however, that the negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

SECTION 7.08. Replacement of Trustee. 

The Trustee may resign at any time by so notifying the Company in writing. The holders of a majority in principal amount of the outstanding
Notes may remove the Trustee by so notifying the Company and the Trustee and may appoint a successor Trustee. The Company may remove the Trustee if: 

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

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

(4) the Trustee becomes incapable of acting. 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall notify each holder of
such event and shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the holders of a majority in principal amount of the Notes may appoint a successor Trustee to replace the successor Trustee
appointed by the Company. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the
Company. Immediately after that, the retiring Trustee shall transfer, after payment of all sums then owing to the Trustee pursuant to Section 7.07, all property held by it as Trustee to the successor Trustee, subject to the Lien provided in
Section 7.07, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its
succession to each noteholder. 
 Subject to the provisions of Section 7.09, no resignation or removal of the Trustee and no
appointment of a successor Trustee pursuant to this Section 7.08 shall become effective until the acceptance of appointment by the successor Trustee pursuant to this Section 7.08. 

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 principal amount of the outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 

If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as provided in Section 310(b)
of the TIA, any holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

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

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation or national association, the resulting, surviving or transferee corporation or national association without any further act shall, if such resulting, surviving or transferee corporation or national association is otherwise eligible
hereunder, be the successor Trustee; provided that such corporation or national association shall be otherwise qualified and eligible under this Article Seven. 

  
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 In case at the time such successor or successors by merger, conversion or consolidation to
the Trustee shall succeed to the trusts created by this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver
such Notes so authenticated; and in case at that time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the
Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have. 

SECTION 7.10. Eligibility; Disqualification. 

This Indenture shall always have a Trustee who satisfies the requirement of TIA §310(a). The Trustee shall have a combined capital and
surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. In addition, if the Trustee is a corporation included in a bank holding company system, the Trustee, independently of the bank holding company,
shall meet the capital requirements of TIA § 310(a)(2). The Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any indenture or
indentures under which other securities, or certificates of interest or participation in other securities, of the Company are outstanding, if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. The provisions of TIA
§ 310 shall apply to the Company and any other obligor of the Notes. 
 SECTION 7.11. Preferential Collection of Claims Against
the Company. 
 The Trustee, in its capacity as Trustee hereunder, shall comply with 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. 

ARTICLE EIGHT 
 DISCHARGE OF
INDENTURE; DEFEASANCE 
 SECTION 8.01. Termination of the Company’s and Guarantors’
Obligations. 
 This Indenture will be discharged and will cease to be of further effect (except as provided in the second paragraph of
this Section 8.01) as to the Notes when either: 
 (1) all Notes that have been authenticated and delivered (except
lost, stolen or destroyed Notes which have been replaced or paid and Notes for whose payment money has been deposited in trust) have been delivered to the Trustee for cancellation, or 

(2) (a) all the Notes not theretofore delivered to the Trustee for cancellation have become due and payable by reason of the
giving of a notice of redemption or otherwise, will become due and payable within one year or are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption, 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, Government Securities, or a combination thereof, in such amounts as
will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, a nationally recognized investment bank or a nationally recognized appraisal or valuation firm delivered to the Trustee if Government Securities
are delivered, without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Notes not theretofore delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the
date of maturity or redemption, as the case may be, 
 (b) no Default or Event of Default has occurred and is continuing on
the date of such deposit or will occur as a result of such deposit (other than a Default or an Event of Default resulting from the borrowing of funds to be applied to make such deposit and any similar and simultaneous deposit relating to other
indebtedness and, in each case, the granting of Liens in connection therewith), 

  
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 (c) the Company or any Guarantor has paid or caused to be paid all sums
payable by the Company under this Indenture with respect to the Notes, and 
 (d) the Company has delivered irrevocable
instructions to the Trustee to apply the deposited money toward the payment of the Notes at maturity or the redemption date, as the case may be. 

In addition, the Company shall deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion of Counsel may be
subject to customary assumptions and exclusions) each stating that all conditions precedent to satisfaction and discharge have been satisfied. 

SECTION 8.02. Legal Defeasance and Covenant Defeasance. 

(a) The Company may, at its option and at any time, elect to have all of its obligations and the obligations of the Guarantors discharged with
respect to this Indenture and the outstanding Notes and the Guarantees issued under this Indenture (“legal defeasance”) except for: 

(1) the rights of holders to receive payments in respect of the principal, premium, if any, and interest on the Notes when such
payments are due, solely out of the trust referred to below; 
 (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 Note 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) the legal defeasance provisions of this Indenture. 

If the Company exercises the legal defeasance option, the Guarantees in effect at such time will be automatically released.

 The Company at any time may be released from its obligations described under Sections 4.09, 4.11, 4.12 and 4.13 herein
(“covenant defeasance”). 
 (b) If the Company exercises the covenant defeasance option, the Guarantees in effect at such
time will be automatically released. 
 (c) The Company may exercise its legal defeasance option notwithstanding its prior exercise of its
covenant defeasance option. If the Company exercises its legal defeasance option, payment of the Notes may not be accelerated because of an Event of Default with respect to the Notes. If the Company exercises its covenant defeasance option, an Event
of Default specified in Sections 6.01(3), (4), (5), (6), (7) (other than with respect to the Company), (8) or (9) herein, in each case, shall not constitute an Event of Default. 

Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee shall acknowledge in writing the discharge
of those obligations that the Company terminates. 
 (d) Notwithstanding the provisions of Sections 8.01(2)(a) and (b), the provisions of
Sections 2.02 through 2.11, 7.07 and 7.08 and in this Article Eight shall survive until the Notes have been paid in full. After the Notes have been paid in full, the Company’s obligations under Sections 7.07, 8.04 and 8.05 shall survive. 

SECTION 8.03. Conditions to Legal Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of either the legal defeasance option as the covenant defeasance option hereof to the
outstanding Notes: 

  
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 In order to exercise either legal defeasance or covenant defeasance: 

(1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the holders, cash in U.S. dollars,
Government Securities, or a combination thereof, in amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, a nationally recognized investment bank or a nationally recognized appraisal or
valuation firm delivered to the Trustee, without consideration of any reinvestment of interest, to pay the principal, premium, if any, and interest due on the outstanding Notes on the Stated Maturity or on the applicable redemption date, as the case
may be, and the Company must specify whether the Notes are being defeased to maturity or to a particular redemption date; 

(2) in the case of an election of legal defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel
confirming that, subject to customary assumptions and exclusions, (a) the Company has received from, or there has been published by, the U.S. Internal Revenue Service a ruling, or (b) since the Issue Date, there has been a change in the
applicable U.S. federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel will confirm that the beneficial owners will be subject to U.S. federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such legal defeasance had not occurred; 
 (3) in the case of an election of
covenant defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel confirming that, subject to customary assumptions and exclusions, the beneficial owners will be subject to U.S. federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such covenant defeasance had not occurred; 
 (4) no Default
or Event of Default has occurred and is continuing on the date of such deposit or will occur as a result of such deposit (other than a Default or an Event of Default resulting from the borrowing of funds to be applied to make such deposit and any
similar and simultaneous deposit relating to other Debt and, in each case, the granting of Liens in connection therewith) and the deposit will not result in a breach or violation of, or constitute a default under, the Credit Agreement or any other
material agreement or material debt instrument (other than this Indenture) to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 

(5) the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel (which Opinion of
Counsel may be subject to customary assumptions and exclusions), each stating that all conditions precedent relating to the legal defeasance or the covenant defeasance, as the case may be, have been complied with; and 

(6) the Company shall have delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of
the Notes at maturity or the redemption date, as the case may be. 
 SECTION 8.04. Application of Trust Money. 

The Trustee or Paying Agent shall hold in trust U.S. Legal Tender and U.S. Government Securities deposited with it pursuant to this Article
Eight and the principal and interest received in respect thereof, and shall apply the deposited U.S. Legal Tender and the money from Government Securities in accordance with this Indenture to the payment of principal of and interest on the Notes.
The Trustee shall be under no obligation to invest said U.S. Legal Tender and Government Securities except as it may agree with the Company. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Legal Tender and
U.S. Government Securities deposited pursuant to Section 8.03 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. 

Anything in this Article Eight to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the
Company’s request any U.S. Legal Tender and Government Securities held by it as 

  
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provided in Section 8.03 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which
delivery shall only be required if U.S. Government Securities have been so deposited), 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 8.05. Repayment to the Company. 

Subject to this Article Eight, the Trustee and the Paying Agent shall promptly pay to the Company upon request any excess U.S. Legal Tender
and Government Securities held by them at any time and thereupon shall be relieved from all liability with respect to such money. Subject to applicable abandoned property laws, the Trustee and the Paying Agent shall pay to the Company upon request
any money held by them for the payment of principal or interest that remains unclaimed for two years. After payment to the Company, holders entitled to such money must look to the Company for payment as general creditors unless an applicable law
designates another Person. 
 SECTION 8.06. Reinstatement. 

If the Trustee or Paying Agent is unable to apply any U.S. Legal Tender and Government Securities deposited pursuant to Section 8.01 or
8.03 in accordance with Section 8.04 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 obligations
under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to this Article Eight until such time as the Trustee or Paying Agent is permitted to apply all such U.S. Legal Tender and Government
Securities in accordance with this Article Eight; provided that if the Company has made any payment of premium, if any, or interest on or principal of 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 U.S. Legal Tender and Government Securities held by the Trustee or Paying Agent. 

ARTICLE NINE 
 AMENDMENTS,
SUPPLEMENTS AND WAIVERS 
 SECTION 9.01. Without Consent of Holders. 

The Company, the Guarantors and the Trustee, together, may amend or supplement this Indenture, the Notes or the Note Guarantees without notice
to or consent of any noteholder in order to: 
 (1) cure any ambiguity, omission, defect or inconsistency, as determined in
good faith by the Company; 
 (2) provide for the assumption by a successor Person of the obligations of the Company or any
Guarantor under this Indenture; 
 (3) provide for uncertificated Notes in addition to or in place of certificated Notes
(provided that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code); 

(4) add guarantees with respect to the Notes or to secure such Notes; 

(5) add to the covenants or other obligations of the Company or any Subsidiary for the benefit of the holders of the Notes or
to surrender any right or power conferred upon the Company or any Subsidiary; 
 (6) make any change that would provide
additional rights or benefits to the holders, or that does not materially adversely affect the rights of any holder of the Notes, as determined in good faith by the Company; 

  
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 (7) comply with any requirement of the SEC in connection with any required
qualification of this Indenture under the Trust Indenture Act; 
 (8) conform the text of this Indenture, Guarantees or the
Notes to any provision of the “Description of Notes” section of the Prospesctus as determined in good faith by the Company; 

(9) release a Guarantor from its Guarantee of the Notes when permitted by the terms of this Indenture; 

(10) provide for successor trustees or to add to or change any provisions to the extent necessary to appoint a separate trustee
for the Notes; 
 (11) make any amendment to the provisions of this Indenture relating to the transfer and legending of Notes
as permitted by this Indenture, including, without limitation, to facilitate the issuance and administration of the Notes, or, if incurred in compliance with this Indenture, Additional Notes; provided, however, that (A) compliance
with this Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any applicable securities law and (B) such amendment does not materially and adversely affect the rights of holders to transfer
Notes, as determined in good faith by the Company; or 
 (12) to provide for the issuance of Additional Notes in accordance
with the terms of this Indenture. 
 SECTION 9.02. With Consent of Holders. 

(a) Subject to Section 6.07, the Company, the Guarantors and the Trustee, together, with the written consent of the holder or holders of
a majority in aggregate principal amount of the outstanding Notes of (including without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, such Notes), may amend or supplement this Indenture, the
Notes or the Note Guarantees, without notice to any other noteholders. Subject to Section 6.07, the holder or holders of a majority in aggregate principal amount of the outstanding Notes may waive any past default or compliance with any
provision of this Indenture, the Notes or the Note Guarantees without notice to any other noteholders. 
 (b) Notwithstanding
Section 9.02(a), without the consent of each holder of an outstanding Note affected, no amendment, supplement or waiver may: 

(1) reduce the amount of Notes whose holders must consent to an amendment; 

(2) reduce the stated rate of or extend the stated time for payment of interest on any Note; 

(3) reduce the principal of or extend the Stated Maturity of any Note; 

(4) change the optional redemption dates or prices or calculations of Notes from those described under Section 5 of the
Notes; 
 (5) make any Note payable in money other than that stated in such Note; 

(6) institute suit for the enforcement of any payment on or with respect to such holder’s Notes; 

(7) make any change in the amendment provisions which require each holder’s consent or in the waiver provisions; 

(8) make any change in the ranking or priority of any Note or any Guarantee thereof that would adversely affect the
noteholders; or 

  
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 (9) release any Guarantor from its Guarantee of such Notes, except as
provided for in herein. 
 A consent to any amendment, supplement or waiver under this Indenture by any holder of Notes given in connection with a tender of
such holder’s Notes will not be rendered invalid by such tender. 
 (c) It shall not be necessary for the consent of the holders under
this Section to approve the particular form of any proposed amendment, supplement or waiver but it shall be sufficient if such consent approves the substance thereof. 

(d) After an amendment, supplement or waiver under Section 9.02(b) becomes effective, the Company shall send to the holders affected
thereby with a copy to the Trustee a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
amendment, supplement or waiver. 
 SECTION 9.03. [Intentionally Omitted]. 

SECTION 9.04. Compliance with TIA. 

Every amendment, waiver or supplement of this Indenture, the Notes or the Note Guarantees shall comply with the TIA as then in effect. 

SECTION 9.05. Revocation and Effect of Consents. 

Until an amendment, waiver or supplement becomes effective, a consent to it by a holder is a continuing consent by the holder 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 or subsequent holder may revoke the consent as to
his Note or portion of his Note by notice to the Trustee and the Company received before the date on which such amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with the terms
thereof (or if silent as to effectiveness, on the date on which the Trustee receives an Officer’s Certificate certifying that the holders of the requisite principal amount of Notes have consented (and not theretofore revoked such consent) to
such amendment, supplement or waiver) and thereafter binds every holder. 
 The Company may, but shall not be obligated to, fix a record
date for the purpose of determining the holders entitled to consent to any amendment, supplement or waiver which record date shall be at least 30 days prior to the first solicitation of such consent. If a record date is fixed, then notwithstanding
the second sentence of the immediately preceding paragraph, those Persons who were holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or not such
Persons continue to be holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. The Company shall inform the Trustee in writing of the fixed record date if applicable. 

After an amendment, supplement or waiver becomes effective, it shall bind every noteholder. 

SECTION 9.06. Notation on or Exchange of Notes. 

If an amendment, supplement or waiver changes the terms of a Note, the Company may require the holder of the Note to deliver it to the
Trustee. The Company shall provide the Trustee with an appropriate notation on the Note about the changed terms and cause the Trustee to return it to the holder at the Company’s expense. Alternatively, if the Company or the Trustee so
determines, the Company in exchange for the Note shall issue and the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such
amendment, supplement or waiver. 

  
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 SECTION 9.07. Trustee To Sign Amendments, Etc. 

The Trustee shall execute any amendment, supplement or waiver authorized pursuant to this Article Nine; provided that the Trustee may,
but shall not be obligated to, execute any such amendment, supplement or waiver which affects the Trustee’s own rights, duties or immunities under this Indenture. The Trustee shall receive, and shall be fully protected in conclusively relying
upon, an Opinion of Counsel and an Officer’s Certificate each stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article Nine is authorized or permitted by this Indenture and constituted the legal,
valid and binding obligations of the Company enforceable in accordance with its terms (subject to customary exceptions). Such Opinion of Counsel shall be at the expense of the Company. 

ARTICLE TEN 
 [INTENTIONALLY
OMITTED] 
 ARTICLE ELEVEN 

NOTE GUARANTEE 
 SECTION 11.01.
Unconditional Guarantee. 
 Subject to the provisions of this Article Eleven and to the fullest extent permitted by applicable law,
each of the Guarantors hereby, jointly and severally, unconditionally and irrevocably guarantees, on a senior basis to each holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective
of the validity and enforceability of this Indenture, the Notes or the obligations of the Company or any other Guarantors to the holders or the Trustee hereunder or thereunder: (a) (x) the due and punctual payment of the principal of, premium,
if any, and interest on the Notes when and as the same shall become due and payable, whether at maturity, upon redemption or repurchase, by acceleration or otherwise, (y) the due and punctual payment of interest on the overdue principal and (to
the fullest extent permitted by applicable law) overdue premium, if any, and interest, if any, on the Notes and (z) the due and punctual payment and performance of all other obligations of the Company to the holders or the Trustee hereunder or
thereunder (including amounts due the Trustee under Section 7.07 hereof), all in accordance with the terms hereof and thereof (collectively, the “Guarantee Obligations”); and (b) in case of any extension of time of payment
or renewal of any Notes or any of such other obligations, the due and punctual payment and performance of Guarantee Obligations in accordance with the terms of the extension or renewal, whether at maturity, upon redemption or repurchase, by
acceleration or otherwise. Failing payment by the Company when due of any amount so guaranteed, or failing performance of any other obligation of the Company to the holders under this Indenture or under the Notes, for whatever reason, each Guarantor
shall be obligated to pay, or to perform or cause the performance of, the same immediately. 
 Each of the Guarantors hereby agrees that (to
the fullest extent permitted by law) its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by
any holder of the Notes with respect to any provisions hereof or thereof, any release of any other Guarantor, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute
a legal or equitable discharge or defense of a Guarantor. Each of the Guarantors hereby waives (to the fullest extent permitted by law) the benefit of diligence, presentment, demand of payment, filing of claims with a court in the event of
insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that its Note Guarantee shall not be discharged except by complete performance of the
obligations contained in the Notes, this Indenture and this Note Guarantee. This Note Guarantee is a guarantee of payment and not of collection. If any holder or the Trustee is required by any court or governmental authority to return to the Company
or to any Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to the Company or such Guarantor, any amount paid by the Company or such Guarantor to the Trustee or such holder, this Note Guarantee, to the
extent theretofore discharged, shall be reinstated in full force and effect. Each Guarantor further agrees (to the fullest extent permitted by law) that, as between it, on the one hand, and the holders of Notes and the Trustee, on the other hand,
(a) subject to this Article Eleven, the maturity of the obligations guaranteed hereby may be accelerated as provided in Article Six for the purposes of this Note Guarantee, notwith-

  
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standing any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (b) in the event of any acceleration of such obligations
as provided in Article Six hereof, such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the holders under the Note Guarantees. 

SECTION 11.02. [Intentionally Omitted]. 

SECTION 11.03. Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Notes, each holder, hereby confirms that it is the intention of all such parties that the Note
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 Note Guarantee. To effectuate the foregoing intention, the Trustee, the holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor under its Note Guarantee and this Article Eleven shall be limited to the maximum
amount as will, after giving effect to all other contingent and fixed liabilities of such Guarantor (including, without limitation, its guarantee of amounts payable under the Credit Agreement and its guarantees of the Existing Notes) 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 Guarantor under its Note Guarantee and
this Article Eleven, result in the obligations of such Guarantor under its Note Guarantee and this Article Eleven not constituting a fraudulent transfer or conveyance under such laws. Each Guarantor that makes a payment under its Note Guarantee
shall be entitled upon payment in full of all Note Guarantee obligations under this Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective net
assets of all the Guarantors at the time of such payment determined in accordance with GAAP. 
 SECTION 11.04. [Reserved]. 

SECTION 11.05. Release of a Guarantor. 

The Guarantee of a Guarantor will be automatically released upon: 

(a) at such time as such Guarantor is no longer a guarantor or obligor of any (i) Credit Facility of the Company or any
Guarantor with an aggregate principal amount of $100 million or more (including the Credit Agreement) (unless such Guarantor is released from its obligations in respect of such Credit Facility in connection with a simultaneous release of its
Guarantee of the Notes) or (ii) Material Capital Markets Debt of the Company or any Guarantor (unless such Guarantor is released from its obligations in respect of such Material Capital Markets Debt in connection with the payment in full of
such Material Capital Markets Debt); 
 (b) the sale, issuance or other disposition of Capital Stock of such Guarantor
(including by way of merger or consolidation), such that it is no longer a Subsidiary or the sale of all or substantially all of its assets to a Person that is not (either before or after giving effect to such transaction) the Company or a
Subsidiary, so long as the sale or other disposition does not violate any provisions of Article Five herein required to be performed at the time of such transaction; 

(c) the release or discharge of the indebtedness that would have required such Guarantor to provide a Guarantee pursuant to
Section 4.11 herein other than a release or discharge in connection with enforcement; 
 (d) the Company exercising its
legal defeasance option or its covenant defeasance option as described under Section 8.02 herein or if its obligations under this Indenture are discharged in accordance with the terms of this Indenture; or 

(e) in connection with the dissolution or liquidation of such Guarantor; and 

  
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 (2) such Guarantor delivering to the Trustee an Officer’s Certificate stating that all
conditions provided for in this Indenture relating to such release have been complied with. 
 SECTION 11.06. Waiver of Subrogation.

 Until all amounts then due and payable by the Company under this Indenture or the Notes have been paid in full, each Guarantor hereby
irrevocably waives and agrees not to exercise any claim or other rights which it may now or hereafter acquire against the Company that arise from the existence, payment, performance or enforcement of the Company’s obligations under the Notes or
this Indenture and such Guarantor’s obligations under this Note Guarantee and this Indenture, in any such instance including, without limitation, any right of subrogation, reimbursement, exoneration, contribution, indemnification, and any right
to participate in any claim or remedy of the holders against the Company, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without limitation, the right to take or receive from the
Company, directly or indirectly, in cash or other assets or by set off or in any other manner, payment or security on account of such claim or other rights. If any amount shall be paid to any Guarantor in violation of the preceding sentence and any
amounts owing to the Trustee or the holders of Notes under the Notes or this Indenture, shall not have been paid in full, such amount shall have been deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit
of, the Trustee or the holders and shall forthwith be paid to the Trustee for the benefit of itself or such holders to be credited and applied to the obligations in favor of the Trustee or the holders, as the case may be, whether matured or
unmatured, in accordance with the terms of this Indenture. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the waiver set forth in this
Section 11.06 is knowingly made in contemplation of such benefits. 
 SECTION 11.07. [Reserved]. 

SECTION 11.08. No Set Off. 

Each payment to be made by a Guarantor hereunder in respect of the Guarantee Obligations shall be payable in the currency or currencies in
which such Guarantee Obligations are denominated, and shall be made without set off, counterclaim, reduction or diminution of any kind or nature.] 

SECTION 11.09. [Reserved]. 

SECTION 11.10. Guarantee Obligations Continuing. 

The obligations of each Guarantor hereunder shall be continuing and shall remain in full force and effect until all such obligations have been
paid and satisfied in full. Each Guarantor agrees with the Trustee that, to the fullest extent permitted by applicable law, it will from time to time deliver to the Trustee suitable acknowledgments of this continued liability hereunder and under any
other instrument or instruments in such form as the Trustee may reasonably request and as will prevent any action brought against it in respect of any default hereunder being barred by any statute of limitations now or hereafter in force and, in the
event of the failure of a Guarantor so to do, it hereby irrevocably appoints the Trustee the attorney and agent of such Guarantor to make, execute and deliver such written acknowledgment or acknowledgments or other instruments as may from time to
time become necessary or reasonably advisable, in the judgment of the Trustee, to fully maintain and keep in force the liability of such Guarantor hereunder. 

SECTION 11.11. Guarantee Obligations Not Reduced. 

Subject to Section 11.05, the obligations of each Guarantor hereunder shall not be satisfied, reduced or discharged solely by the payment
of such principal, premium, if any, interest, fees and other monies or amounts as may 

  
 -51- 

 
at any time prior to discharge of this Indenture pursuant to Article Eight be or become owing or payable under or by virtue of or otherwise in connection with the Notes or this Indenture. 

SECTION 11.12. Guarantee Obligations Reinstated. 

Subject to Section 11.05, to the fullest extent permitted by applicable law, the obligations of each Guarantor hereunder shall continue
to be effective or shall be reinstated, as the case may be, if at any time any payment which would otherwise have reduced the obligations of any Guarantor hereunder (whether such payment shall have been made by or on behalf of the Company or by or
on behalf of a Guarantor) is rescinded or reclaimed from any of the holders upon the insolvency, bankruptcy, liquidation or reorganization of the Company or any Guarantor or otherwise, all as though such payment had not been made. If demand for, or
acceleration of the time for, payment by the Company or any other Guarantor is stayed upon the insolvency, bankruptcy, liquidation or reorganization of the Company or such Guarantor, all such indebtedness otherwise subject to demand for payment or
acceleration shall nonetheless be payable by each Guarantor as provided herein. 
 SECTION 11.13. Guarantee Obligations Not Affected.

 Subject to Section 11.05, to the fullest extent permitted by applicable law, the obligations of each Guarantor hereunder shall not
be affected, impaired or diminished in any way by any act, omission, matter or thing whatsoever, occurring before, upon or after any demand for payment hereunder (and whether or not known or consented to by any Guarantor or any of the holders)
which, but for this provision, might constitute a whole or partial defense to a claim against any Guarantor hereunder or might operate to release or otherwise exonerate any Guarantor from any of its obligations hereunder or otherwise affect such
obligations, whether occasioned by default of any of the holders or otherwise, including, without limitation: 
 (a) any
limitation of status or power, disability, incapacity or other circumstance relating to the Company or any other Person, including any insolvency, bankruptcy, liquidation, reorganization, readjustment, composition, dissolution, winding-up or other proceeding involving or affecting the Company or any other Person; 

(b) any irregularity, defect, unenforceability or invalidity in respect of any indebtedness or other obligation of the Company
or any other Person under this Indenture, the Notes or any other document or instrument; 
 (c) any failure of the Company or
any other Guarantor, whether or not without fault on its part, to perform or comply with any of the provisions of this Indenture, the Notes or any Note Guarantee, or to give notice thereof to a Guarantor; 

(d) the taking or enforcing or exercising or the refusal or neglect to take or enforce or exercise any right or remedy from or
against the Company or any other Person or their respective assets or the release or discharge of any such right or remedy; 

(e) the granting of time, renewals, extensions, compromises, concessions, waivers, releases, discharges and other indulgences
to the Company or any other Person; 
 (f) any change in the time, manner or place of payment of, or in any other term of,
any of the Notes, or any other amendment, variation, supplement, replacement or waiver of, or any consent to departure from, any of the Notes or this Indenture, including, without limitation, any increase or decrease in the principal amount of or
premium, if any, or interest on any of the Notes; 
 (g) any change in the ownership, control, name, objects, businesses,
assets, capital structure or constitution of the Company or a Guarantor; 
 (h) any merger or amalgamation of the Company or
a Guarantor with any Person or Persons; 

  
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 (i) the occurrence of any change in the laws, rules, regulations or
ordinances of any jurisdiction by any present or future action of any governmental authority or court amending, varying, reducing or otherwise affecting, or purporting to amend, vary, reduce or otherwise affect, any of the Guarantee Obligations or
the obligations of a Guarantor under its Note Guarantee; and 
 (j) any other circumstance (other than a release of a
Guarantor pursuant to Section 11.05 and other than by complete, irrevocable payment), that might otherwise constitute a legal or equitable discharge or defense of the Company under this Indenture or the Notes or of a Guarantor in respect of its
Note Guarantee hereunder. 
 SECTION 11.14. Waiver. 

Without in any way limiting the provisions of Section 11.01, each Guarantor hereby waives (to the fullest extent permitted by law) notice
of acceptance hereof, notice of any liability of any Guarantor hereunder, notice or proof of reliance by the holders upon the obligations of any Guarantor hereunder, and diligence, presentment, demand for payment on the Company, protest, notice of
dishonor or non payment of any of the Guarantee Obligations, or other notice or formalities to the Company or any Guarantor of any kind whatsoever. 

SECTION 11.15. No Obligation To Take Action Against the Company. 

To the fullest extent permitted by applicable law, neither the Trustee nor any other Person shall have any obligation to enforce or exhaust
any rights or remedies against the Company or any other Person or any property of the Company or any other Person before the Trustee is entitled to demand payment and performance by any or all Guarantors of their liabilities and obligations under
their Note Guarantees or under this Indenture. 
 SECTION 11.16. Dealing with the Company and Others. 

The holders and the Trustee, without releasing, discharging, limiting or otherwise affecting in whole or in part the obligations and
liabilities of any Guarantor hereunder and without the consent of or notice to any Guarantor, may to the fullest extent permitted by applicable law: 

(a) grant time, renewals, extensions, compromises, concessions, waivers, releases, discharges and other indulgences to the
Company or any other Person; 
 (b) take or abstain from taking security or collateral from the Company or from perfecting
security or collateral of the Company; 
 (c) release, discharge, compromise, realize, enforce or otherwise deal with or do
any act or thing in respect of (with or without consideration) any and all collateral, mortgages or other security given by the Company or any third party with respect to the obligations or matters contemplated by this Indenture or the Notes; 

(d) accept compromises or arrangements from the Company; 

(e) apply all monies at any time received from the Company or from any security upon such part of the Guarantee Obligations as
the holders may see fit or change any such application in whole or in part from time to time as the holders may see fit; and 

(f) otherwise deal with, or waive or modify their right to deal with, the Company and all other Persons and any security as the
holders or the Trustee may see fit. 
 SECTION 11.17. Default and Enforcement. 

If any Guarantor fails to pay in accordance with Section 11.07 hereof, the Trustee may proceed in its name as trustee hereunder in the
enforcement of the Note Guarantee of any such Guarantor and such Guarantor’s obligations 

  
 -53- 

 
thereunder and hereunder by any remedy provided by law, whether by legal proceedings or otherwise, and to recover from such Guarantor the obligations. 

SECTION 11.18. Amendment, Etc. 

Without limitation to the provisions of Article Nine, no amendment, modification or waiver of any provision of this Indenture relating to any
Guarantor or consent to any departure by any Guarantor or any other Person from any such provision will in any event be effective unless it is signed by such Guarantor and the Trustee. 

SECTION 11.19. Costs and Expenses. 

Each Guarantor shall pay on demand by the Trustee any and all costs, fees and expenses (including, without limitation, reasonable legal fees)
incurred by the Trustee, its agents, advisors and counsel or any of the holders in enforcing any of their rights under any Note Guarantee. 

SECTION 11.20. No Merger or Waiver; Cumulative Remedies. 

To the fullest extent permitted by applicable law, no Note Guarantee shall operate by way of merger of any of the obligations of a Guarantor
under any other agreement, including, without limitation, this Indenture. To the fullest extent permitted by applicable law, no failure to exercise and no delay in exercising, on the part of the Trustee or the holders, any right, remedy, power or
privilege hereunder or under this Indenture or the Notes, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under this Indenture or the Notes preclude any other or
further exercise thereof or the exercise of any other right, remedy, power or privilege. To the fullest extent permitted by applicable law, the rights, remedies, powers and privileges in the Note Guarantee and under this Indenture, the Notes and any
other document or instrument between a Guarantor and/or the Company and the Trustee are cumulative and not exclusive of any rights, remedies, powers and privilege provided by law. 

  
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 ARTICLE TWELVE 

MISCELLANEOUS 
 SECTION 12.01.
TIA Controls. 
 If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or
deemed to be included in this Indenture by the TIA, such required or deemed provision shall control. If any provision of this Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the latter provision shall be
deemed to apply to this Indenture as so modified or excluded, as the case may be. 
 SECTION 12.02. Notices. 

Any notices or other communications required or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand
delivery, by nationally recognized overnight courier service, sent by electronic mail in pdf format, by facsimile or registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 

if to the Company or a Guarantor: 

Western Digital Corporation. 

5601 Great Oaks Parkway 
 San
Jose, California 
 Attention: Chief Legal Officer 

Facsimile: (949) 672-9612 

if to the Trustee, at the Corporate Trust Office. 

Each of the Company, the Guarantors and the Trustee by written notice to each other such Person may designate additional or different
addresses for notices to such Person. Any notice or communication to the Company, the Guarantors and the Trustee, shall be deemed to have been given or made as of the date so delivered if personally delivered; when receipt is acknowledged (or, in
the case of the Trustee, when receipt is actually acknowledged by a Responsible Officer); if delivered electronically in pdf format; when receipt is acknowledged, if telecopied; five (5) calendar days after mailing if sent by registered or
certified mail, postage prepaid (except that a notice of change of address shall not be deemed to have been given until actually received by the addressee); and next Business Day if by nationally recognized overnight courier service. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give
such instructions or directions and containing specimen signatures of such designated persons. If the Company 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 Company 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. 

Any notice or communication mailed to a noteholder shall be sent electronically or mailed to the noteholder by first class mail or other
equivalent means at the noteholders’ address as it appears on the registration books of the Registrar and shall be sufficiently given to the noteholder if so sent within the time prescribed. 

Notwithstanding any other provision of this Indenture or any Note, where this Indenture or any Note provides for notice of any event
(including any notice of redemption) to any holder of an interest in a Global Note 

  
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(whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) according to the applicable procedures of the Depositary. 

Failure to mail a notice or communication to a noteholder or any defect in it shall not affect its sufficiency with respect to other
noteholders. If a notice or communication is sent in the manner provided above, it is duly given, whether or not the addressee receives it. 

SECTION 12.03. Communications by Holders with Other Holders. 

Noteholders may communicate pursuant to TIA § 312(b) with other noteholders with respect to their rights under this Indenture, the
Notes or the Note Guarantees. The Company, the Trustee, the Registrar and any other Person shall have the protection of TIA § 312(c). 

SECTION 12.04. Certificate and Opinion as to Conditions Precedent. 

Upon any request or application by the Company to the Trustee to take any action under this Indenture (except for authentication of the Notes
by the Trustee on the Issue Date, which shall not require an Opinion of Counsel), the Company shall furnish to the Trustee at the request of the Trustee: 

(1) an Officer’s Certificate stating that, in the opinion of the signers, all conditions precedent to be performed or
effected by the Company, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2) an Opinion of Counsel stating that, in the opinion of such counsel, any and all such conditions precedent have been
complied with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

SECTION 12.05. Statements Required in Certificate or Opinion. 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture, other than the
Officer’s Certificate required by Section 4.06, shall include: 
 (1) a statement that the Person making such
certificate or opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3)
a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with or satisfied;
and 
 (4) a statement as to whether or not, in the opinion of each such Person, such condition or covenant has been complied
with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

SECTION 12.06. Rules by Trustee, Paying Agent, Registrar. 

The Trustee, Paying Agent or Registrar may make reasonable rules for its functions. 

SECTION 12.07. Legal Holidays. 

If a payment date is not a Business Day, payment may be made on the next succeeding day that is a Business Day with the same force and effect
as if made on the original date such payment was due and no interest shall accrue or other penalty shall be payable for the period from and after the date such payment was originally due. 

  
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 SECTION 12.08. Governing Law; Waiver of Jury Trial. 

This Indenture, the Notes and the Note Guarantees will be governed by and construed in accordance with the laws of the State of New York,
as applied to contracts made and performed within the State of New York, without regard to principles of conflicts of law. 
 EACH OF
THE COMPANY, THE GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 
 SECTION 12.09. No Adverse Interpretation of Other Agreements. 

To the fullest extent permitted by applicable law, this Indenture may not be used to interpret another indenture, loan or debt agreement of
any of the Company or any of its Subsidiaries. To the fullest extent permitted by applicable law, any such indenture, loan or debt agreement may not be used to interpret this Indenture. 

SECTION 12.10. No Recourse Against Others. 

No director, officer, employee, incorporator, stockholder, partner or member of, or owner of an equity interest in, the Company or of any
Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the Note 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. Such waiver and release are part of the consideration for issuance of the Notes. 

SECTION 12.11. Successors. 

All agreements of the Company and the Guarantors in this Indenture, the Notes and the Note Guarantees shall bind their respective successors.
All agreements of the Trustee in this Indenture shall bind its successor. 
 SECTION 12.12. Duplicate Originals. 

All parties may sign any number of copies of this Indenture. Each signed copy or counterpart shall be an original, but all of them together
shall represent the same agreement. 
 SECTION 12.13. Severability. 

To the fullest extent permitted by applicable law, in case any one or more of the provisions in this Indenture, in the Notes or in the Note
Guarantees shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or
impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law. 
 SECTION
12.14. USA PATRIOT Act. 
 The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the
Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or
opens an account. The parties to this Indenture agree that they will provide the Trustee with such information as each may request in order to satisfy the requirements of the USA PATRIOT Act. 

SECTION 12.15. Force Majeure. 

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 

  
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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. 
 [Signature Pages Follow] 

  
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 SIGNATURES 

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

 

			
	WESTERN DIGITAL CORPORATION, as the Company
		
	By:	 	 
		 	Name:
		 	Title:

  
 S-1 

 GUARANTORS 

HGST, INC. 
 WD MEDIA, LLC 

WESTERN DIGITAL (FREMONT), LLC 
 WESTERN DIGITAL
TECHNOLOGIES, INC. 
  

			
		
	By:	 	 
		 	Name:
		 	Title:

  
 S-2 

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

  
 S-3 

 EXHIBIT A 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

WESTERN DIGITAL CORPORATION 

[●]% Senior Notes due 2026 

CUSIP No. [●] 
 ISIN No.
[●] 
  

			
	No.	  	$

 WESTERN DIGITAL CORPORATION, a Delaware corporation (the “Company”), for value received
promises to pay to CEDE & CO. or its registered assigns, the principal sum of
                             on [●]. 

Interest Payment Dates: [●] and [●], commencing [●]. 

Record Dates: [●] and [●]. 

Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at
this place. 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized Officers. 
  

			
	WESTERN DIGITAL CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  
 A-2 

 This is one of the [●]% Senior Notes due 2026 described in the within-mentioned
Indenture. 
 Dated: 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	 
		 	Authorized Signatory

  
 A-3 

 (Reverse of Note) 

[●]% Senior Notes due 2026 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

SECTION 1. Interest. Western Digital Corporation, a Delaware corporation (the “Company”), promises to pay interest on
the principal amount of this Note at [●]% per annum from [●] until maturity. The Company will pay interest semi-annually in arrears on [●] and [●] of each year (each an “Interest Payment Date”), or if
any such day is not a Business Day, on the next succeeding Business Day, commencing [●]. 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 Issue Date;
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. The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand to the extent lawful at the interest
rate applicable to the Notes; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the
same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

SECTION 2. Method of Payment. The Company will pay interest on the Notes to the Persons who are registered holders of Notes at the
close of business on the [●] or [●], as the case may be, next preceding the Interest Payment Date, even if such Notes are canceled after such Record Date and on or before such Interest Payment Date, except as provided in
Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The Company shall pay principal, premium, if any, and interest on
the Notes in U.S. Legal Tender. Principal, premium, if any, and interest on the Notes will be payable at the office or agency of the Company maintained for such purpose or, at the option of the Company, payment of interest may be made by check
mailed to the holders of the Notes at their respective addresses set forth in the register of holders of Notes; provided that all payments of principal, premium, if any, and interest with respect to Notes in global form registered in the name
of the Depository or its nominee shall be paid in immediately available funds to the Depository or its nominee, as the case may be. Until otherwise designated by the Company, the Company’s office or agency in the United States will be the
office of the Trustee maintained for such purpose. 
 SECTION 3. Paying Agent and Registrar. Initially, U.S. Bank National
Association, 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. 

SECTION 4. Indenture. The Company issued the Notes under an Indenture dated as of [●], as amended or supplemented
(“Indenture”), by and 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 Trust Indenture Act of 1939, as amended
(15 U.S. Code §§ 77aaa-77bbbb) (the “TIA”). The Company shall be entitled to issue Additional Notes pursuant to the Indenture. The Notes and any Additional Notes issued under the Indenture shall be treated as a
single class of securities under the Indenture. The Notes are subject to all such terms, and holders are referred to the Indenture and the TIA 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. 
 SECTION 5. Optional Redemption. 

Except as set forth below, we will not be entitled to redeem the Notes at our option. 

Notice of any redemption of the Notes in connection with a transaction or an event (including a Change of Control Triggering Event) may, at
the Company’s discretion, be given prior to the completion or the occurrence thereof and any such redemption or notice may, at the Company’s discretion, be subject to one or more 

  
 A-4 

 
conditions precedent, including, but not limited to, completion or occurrence of the related transaction or event. In addition, if such redemption is subject to one or more conditions precedent,
such notice shall describe each such condition and, if applicable, shall state that in the Company’s discretion, the redemption date may be delayed until such time (including, subject to the applicable procedures of DTC, more than 60 days after
the date the notice of redemption was mailed or delivered, including by electronic transmission) as any or all such conditions shall be satisfied (or waived by the Company in its sole discretion), or such redemption may not occur and such notice may
be rescinded in the event that any or all such conditions shall not have been satisfied by the redemption date, or by the redemption date as so delayed. The Company will provide prompt written notice to the holders and the Trustee prior to the close
of business two Business Days prior to the redemption date rescinding such redemption and notice of redemption shall be rescinded and of no force or effect. Upon the Company’s written request given at least five (5) Business Days prior to the
date such notice shall be sent (unless the Trustee consents to a shorter period), the Trustee shall (on such date and at or promptly after such time) forward such notice to the holders in the Company’s name and at the Company’s expense in
the same manner in which the notice of redemption was given. 
 Prior to [●], 2025, we will be entitled, at our option, to redeem all
or a portion of the Notes at a redemption price equal to 100% of the principal amount of the Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, on or after
[●], 2025, we may redeem the Notes in whole or in part at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the redemption date. Notice of any such redemption must be mailed
by first-class mail to each holder’s registered address (or delivered by electronic transmission in accordance with the applicable procedures of DTC), not less than 30 nor more than 60 days prior to the redemption date. Calculation of the
redemption price will be made by us or on our behalf by such person as we shall designate; provided that such calculation or the correctness thereof shall not be a duty or obligation of the Trustee. 

If the optional redemption date is on or after an interest record date but on or prior to the related interest payment date, then any accrued
and unpaid interest in respect of Notes subject to redemption will be paid on the redemption date to the Person in whose name the Note is registered at the close of business, on such record date, and no additional interest will be payable to holders
whose Notes will be subject to redemption by the Company. 
 “Applicable Premium” means with respect to a Note at any
redemption date, as provided by the Company, the excess of (1) the present value at such redemption date of the Remaining Scheduled Payments on such Note (but excluding accrued and unpaid interest, if any, to, but excluding, the redemption
date), computed using a discount rate equal to the Adjusted Treasury Rate over (2) the principal amount of such Note on such redemption date. 

“Adjusted Treasury Rate” means, with respect to any redemption date, (1) the average of the yields in each statistical
release for the immediately preceding week designated “H.15” or any successor publication which is published by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury
securities adjusted to constant maturity under “U.S. government securities—Treasury constant maturities—nominal,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or
after the remaining term of the Notes to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Adjusted Treasury Rate will be interpolated or extrapolated from
such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to
the semi-annual equivalent yield-to-maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of
its principal amount) equal to the Comparable Treasury Price for such redemption date, in each case calculated on the third Business Day immediately preceding the date that the applicable redemption notice is first mailed or sent, in each case, plus
50 basis points. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent
as having a maturity comparable to the remaining term of the Notes from the redemption date to [●], 2025, that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of a maturity most nearly equal to [●], 2025. 
 “Comparable Treasury Price” means, with respect to
any redemption date, if clause (2) of the Adjusted Treasury Rate definition is applicable, the average of four, or such lesser number as is obtained by the Company, Reference Treasury Dealer Quotations for such redemption date. 

  
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 “Quotation Agent” means the Reference Treasury Dealer selected by the
Company. 
 “Reference Treasury Dealer” means either J.P. Morgan Securities, LLC and its successors and assigns or Merrill
Lynch, Pierce, Fenner & Smith Incorporated and its successors and assigns. 
 “Reference Treasury Dealer
Quotations” means with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of
its principal amount, quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the second Business Day immediately preceding the date that the applicable redemption notice is first mailed or sent. 

“Remaining Scheduled Payments” means the remaining payments of principal of and interest on the Notes that would be due after
the redemption date but for such redemption if the Notes matured on [●], 2025. If the redemption date is not an interest payment date, the amount of the next succeeding scheduled interest payment on the Notes will be reduced by the amount of
interest accrued thereon to the redemption date. 
 SECTION 6. Selection and Notice of Redemption. If the Company is redeeming fewer
than all the Notes at any time, the Trustee will select Notes on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion shall deem to be fair and appropriate; provided, however, that global Notes will be
selected in accordance with the applicable procedures of DTC, 
 The Company will redeem Notes of $2,000 or less in whole and not in part.
We will cause notices of redemption to be mailed by first-class mail (or delivered by electronic transmission in accordance with the applicable procedures of DTC) not less than 30 nor more than 60 days prior to the redemption date to each holder of
Notes to be redeemed at its registered address with a copy to the Trustee. 
 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 thereof to be redeemed. Upon surrender of a Note that is redeemed or purchased in part, we will issue a new Note in a principal amount equal to the unredeemed
portion of the original Note surrendered in the name of the holder thereof. 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 7. Mandatory Redemption. For the avoidance of doubt, an offer to purchase pursuant to Section 9 hereof
shall not be deemed a redemption. The Company shall not be required to make mandatory redemption payments or sinking fund payments with respect to the Notes. 

SECTION 8. Repurchase at Option of Holder. Upon the occurrence of a Change of Control, and subject to certain conditions set forth in
the Indenture, each holder will have the right to require the Company to purchase all or any part (in integral multiples of $1,000, provided that the remaining principal amount of any Note repurchased in part must not be less than $2,000) of
such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, thereon to but excluding, the Change of Control Payment Date. 

SECTION 9. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and
integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a holder, among other things, to furnish appropriate
endorsements and transfer documents and the Company may require a holder to pay any taxes and fees required by law or permitted by the Indenture. The Company and the Registrar are not required to transfer or exchange any Note selected for redemption
in whole or in part, except the unredeemed portion of any Note being redeemed in part, or during a Change of Control Offer if such Note is validly tendered pursuant to such Change of Control Offer and not validly withdrawn. Also, the Company and the
Registrar are not required to transfer or exchange any Notes for a period beginning at the opening of business 15 days before the mailing of a notice of redemption and ending at the close of business on the day of such mailing or register the

  
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transfer or exchange of any Note selected for redemption in whole or in part except the unredeemed portion of any Note redeemed in part. 

SECTION 10. Persons Deemed Owners. The holder of a Note may be treated as its owner for all purposes. 

SECTION 11. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture, the Notes and the Note Guarantees in
connection with such Notes may be amended or supplemented with the written consent of the holders of at least a majority in aggregate principal amount of the Notes then outstanding, and any existing Default or Event of Default and its consequences
or compliance with any provision hereof or thereof may be waived with the consent of the holders of a majority in aggregate principal amount of the Notes then outstanding. Without notice to or consent of any holder, the parties thereto may amend or
supplement the Indenture, the Notes and the Note Guarantees in connection with such Notes to, among other things, cure any ambiguity, omission, defect or inconsistency, provide for uncertificated Notes in addition to certificated Notes, comply with
any requirements of the SEC in connection with the qualification of the Indenture under the TIA, or make any change that does not materially adversely affect the rights of any holder of a Note. 

SECTION 12. Defaults and Remedies. If an Event of Default occurs and is continuing, the Trustee or the holders of at least 30% in
principal amount of the then outstanding Notes generally may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency as set
forth in the Indenture with respect to the Company, all outstanding Notes will become due and payable without further action or notice. Holders of the Notes may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to
certain limitations, 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 from holders of the Notes notice of any continuing Default (except a
Default relating to the payment of principal, premium or interest) if it determines that withholding notice is in their interest. 
 SECTION
13. Restrictive Covenants. The Indenture contains certain covenants that, among other things, limit the ability of the Company and its Subsidiaries to incur indebtedness secured by liens, enter into sale and lease-back transactions and
consolidate, merge or sell all or substantially all of its assets and the ability of non-Guarantor Subsidiaries to create, assume, incur or guarantee certain indebtedness. The covenants are subject to a number
of important qualifications and exceptions. The Company must annually report to the Trustee on compliance with such covenants. 
 SECTION
14. No Recourse Against Others. No past, present or future director, officer, employee, incorporator, stockholder, partner or member of, or owner of any equity interest in, the Company or any Guarantor, as such, shall have any liability for
any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees in connection with such Notes 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. 

SECTION 15. Note Guarantees. This Note will be entitled to the benefits of certain Note Guarantees made for the benefit of the holders
of such Note. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the holders. 

SECTION 16. Trustee Dealings with the Company. Subject to certain limitations specified in the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Company, its Subsidiaries or their respective Affiliates with the same rights it would have if it were not the Trustee. 

SECTION 17. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. 

  
 A-7 

 SECTION 18. 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 entirety), 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).

 SECTION 19. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be 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. 

SECTION 20. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of New York, as
applied to contracts made and performed within the State of New York, without regard to principles of conflicts of laws. 

  
 A-8 

 ASSIGNMENT FORM 
  

									
	I or we assign and transfer this Note to
	
	  

	(Print or type name, address and zip code of assignee or transferee)
	
	  

	(Insert Social Security or other identifying number of assignee or transferee)
	
	and irrevocably appoint
                        
                                         
        agent to transfer this Note on the books of the Company. The agent may substitute another to act for him.
				
	Dated:
                                         
       	  		  	Signed:	  	  

		  		  		  	(Sign exactly as name appears on the other side of this Note)
			
	Signature Guarantee:	  		  	  

		  		  	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

  
 A-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.09 of the Indenture, check the box below: 

Section 4.09 [                ] 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.09 of the Indenture, state the amount
(must be $1,000 or an integral multiple of $1,000 in principal amount, provided that the remaining principal amount of any Note purchased in part must not be less than $2,000 in principal amount): $ 

 

							
			
	Dated:
                                         
       	  	Signed:	  	  

		  		  		  	(Sign exactly as name appears on the other side of this Note)
			
		  		  	  

	Signature Guarantee:	  		  	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor program reasonably acceptable to the Trustee)

  
 A-10 

 EXHIBIT B 

FORM OF LEGEND 
 Each Global Note
authenticated and delivered hereunder shall also bear the following legend: 
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY OR NOMINEE. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY
OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE
DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO WESTERN DIGITAL CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR
THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 2.15 OF THE INDENTURE. 

  
 B-1

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