Document:

EX-4.7

 Exhibit 4.7 

THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS. THIS BOND HAS BEEN ACQUIRED FOR INVESTMENT AND NOT
WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, MORTGAGED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS, OR THE
AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS. 
  

					
	 No. RR–1
	  	$	2,400,000	 

 UNITIL ENERGY SYSTEMS, INC. 

First Mortgage Bond, Series R, 3.58% 

Due September 15, 2040 
 PPN
913260 C*4 
 Unitil Energy Systems, Inc., a corporation organized under the laws of the State of New Hampshire (hereinafter called the
“Company”), for value received, hereby promises to pay to CUDD AND CO or registered assigns, on September 15, 2040 (the “Maturity Date”), the principal sum of TWO
MILLION FOUR HUNDRED THOUSAND DOLLARS ($2,400,000) and to pay interest thereon from the date hereof at the rate of three and fifty-eight hundredths per centum (3.58%) per
annum (computed on the basis of a thirty (30) day month and a three hundred sixty (360) day year) payable semi-annually in arrears on the fifteenth (15th) day of March and September in each year, commencing with the fifteenth (15th) day of
the March or the September next following the date hereof, until said principal sum is paid; and to pay interest on any overdue principal (including any overdue prepayment of principal) and premium, if any, and (to the extent permitted by applicable
law) on any overdue payment of interest at the rate of five and fifty-eight hundredths per centum 5.58% per annum. The principal of, premium, if any, and the interest on this bond shall be payable (i) on or prior to the Collateral Release Date
(as defined below), at the corporate trust office of U.S. Bank National Association, in Boston, Massachusetts, St. Paul, Minnesota, or at the corporate trust office designated by the Trustee or by its successor trustee of the trust hereinafter
referred to, or at the option of certain holders in accordance with the provisions of Section 1.01 of the Sixteenth Supplemental Indenture hereinafter referred to or (ii) following the Collateral Release Date, as provided in the certain
Bond Purchase Agreement dated as of September 15, 2020 among the Company and purchasers of the Series R Bonds party thereto, and accepted and acknowledged by the Trustee (the “2020 Series R BPA”), in
lawful money of the United States of America. The term “Collateral Release Date” is defined in the 2020 Series R BPA. 
 This
bond is one of a duly authorized issue of First Mortgage Bonds of the Company limited as to aggregate principal amount as set forth in the Indenture hereinafter mentioned, issuable in series, and is one of a Series known as First Mortgage
Bonds, Series R, and all bonds of all Series being issued and to be issued under and pursuant to the 2020 Series R BPA and in accordance with the Sixteenth Supplemental Indenture and, prior to the Collateral Release Date,

 
all equally secured (except as any sinking or other fund, established in accordance with the provisions of the Indenture hereinafter mentioned, may afford additional security for the bonds of any
particular series) by an Indenture of Mortgage and Deed of Trust dated as of July 15, 1958 (herein called the “Original Indenture”) duly executed and delivered by the Company to Old Colony Trust Company (The First National Bank
of Boston, and State Street Bank and Trust Company being the initial successor Trustees and U.S. Bank National Association being the current successor Trustee, the “Trustee”), to which Original Indenture, as amended and restated by
the Twelfth Supplemental Indenture, and supplemented by a Thirteenth Supplemental Indenture dated as of September 26, 2006, a Fourteenth Supplemental Indenture dated as of March 2, 2010, a Fifteenth Supplemental Indenture dated as of
November 29, 2018, and a Sixteenth Supplemental Indenture (the “Sixteenth Supplemental Indenture”) dated as of September 15, 2020 (herein together called the “Indenture”) reference is hereby made for a
description of the property transferred, assigned and mortgaged thereunder, the nature and extent of the security, the terms and conditions upon which the bonds are secured and additional bonds may be issued and secured, and the rights of the
holders or registered owners of said bonds, of the Trustee and of the Company in respect of such security. Neither the foregoing reference to the Indenture, nor any provision of this bond or of the Indenture, shall affect or impair the obligation of
the Company, which is absolute, unconditional and unalterable, to pay, at the stated or accelerated maturities herein provided, the principal of and premium, if any, and interest on this bond as herein provided. Bonds of this Series R are also
issued in accordance with the terms of the 2020 Series R BPA and are entitled to the benefits thereof. The 2020 Series R BPA also provides that, upon the written request of the Company and the satisfaction of the conditions provided in
Section 9.1.1 thereof, the lien of the Indenture shall be cancelled, discharged, and released from all of the property and collateral securing the repayment of the Bonds of this Series R and, at such time, the Indenture shall cease and
terminate and the 2020 Series R Bonds shall be solely governed in accordance with the terms hereof and of the 2020 Series R BPA. As provided herein, the entire unpaid principal balance of each Series R Bond shall be due and payable on
the Maturity Date. In addition, the Series R Bonds are subject to optional redemption in accordance with the terms of the Indenture and the 2020 Series R BPA. 

The following provisions only apply on or prior to the Collateral Release Date: 

(a) Bonds of this Series R are also redeemable, in whole or in part, in integral multiples of one hundred thousand dollars, at the option
of the Company on any date on no more than 60, nor less than 30 days’ notice prior to such redemption date, in the manner, with the effect, subject to the limitations and for the amounts specified in Section 1.04 of the Sixteenth
Supplemental Indenture. 
 (b) On the conditions and in the manner provided in Section 1.05 of the Sixteenth Supplemental Indenture,
Series R Bonds may also become subject to redemption, in whole or in part, at any time on any date on no more than 60, nor less than 30 days’ notice prior to such redemption date, in the manner, with the effect and for the amounts
specified in said Section 1.05, by the use of moneys deposited with or paid to the Trustee as the proceeds of the sale or condemnation of property of the Company or as the proceeds of insurance policies deposited with or paid to the Trustee
because of damage to or destruction of property of the Company. 

  
 -2- 

 (c) In the event that all or any part of the bonds of this Series R shall be redeemed
or otherwise discharged prior to their maturity pursuant to or in accordance with the order of any governmental commission or regulatory authority upon the reorganization, dissolution or liquidation of the Company, or otherwise, the registered
owners of such Series R Bonds shall be entitled to be paid therefor an amount specified in Section 1.06 of the Sixteenth Supplemental Indenture. 

(d) The Indenture provides that, if notice of redemption of any bond issued pursuant to its terms, including the Series R Bonds, or of any
portion of the principal amount of any such bond selected for redemption has been duly given, then such bond or such portion thereof shall become due and payable on the redemption date, and, if the redemption price shall have been duly deposited
with the Trustee, interest thereon shall cease to accrue from and after the redemption date, and that whenever the redemption price thereof shall have been duly deposited with the Trustee and notice of redemption shall have been duly given, or
provision thereof made as provided in the Indenture, such bond or such portion thereof shall no longer be entitled to any lien or benefit of the Indenture. 

(e) In case an Event of Default, as defined in the Indenture, occurs, the principal of this bond may become or may be declared due and payable
prior to the stated maturity hereof in the manner and with the effect and subject to the conditions provided in the Indenture. 
 (f) This
bond is transferable by the registered owner hereof, in person or by duly authorized attorney, upon books of the Company to be kept for that purpose at the corporate trust office of the Trustee under the Indenture, upon surrender thereof at said
office for cancellation and upon presentation of a written instrument of transfer duly executed, and thereupon the Company shall issue in the name of the transferee or transferees, and the Trustee shall authenticate and deliver, a new registered
bond or bonds, of like form and in an authorized denomination or in authorized denominations and of the same series, for the same aggregate principal amount. Bonds of Series R upon surrender thereof at said office may be exchanged for the same
aggregate principal amount of fully registered bonds of Series R of another authorized denomination or other authorized denominations, all upon payment of the charges, if any, and subject to the terms and conditions specified in the Indenture.

 (g) The Company and the Trustee may treat the registered owner of this bond as the absolute owner hereof for all purposes. 

(h) With the consent of the Company and to the extent permitted by and as provided in the Indenture, any of the provisions of the Indenture or
of any instrument supplemental thereto may be modified by the assent or authority of the holders of at least seventy-five per centum (75%) in principal amount of the bonds then outstanding thereunder, provided, however, that no such
modification shall (i) extend the time or times or payment of the principal of, or the interest or premium, if any, on any bond, (ii) reduce the principal amount thereof or the rate of interest or premium thereon, (iii) authorize the
creation of any lien prior or equal to the lien of the Indenture upon any property subject to the lien thereof, or deprive any bondholder of the benefit of the lien of the Indenture, (iv) affect the rights under the Indenture of the holders of
one or more, but less than all, of the Series of bonds outstanding thereunder unless assented to by the holders of seventy-five per centum (75%) in aggregate principal amount of bonds outstanding thereunder of each of the Series so
affected, (v) reduce the percentage of bonds, the holders of which are required to assent to any such modification, or (vi) in any manner affect the rights or obligations of the Trustee without its written consent thereto. 

  
 -3- 

 (i) No recourse shall be had for the payment of the principal of or the interest on this
bond or of any claim based hereon or in respect hereof or of the Indenture, against any incorporator, stockholder, officer or director of the Company, or of any successor company, whether by virtue of any statute or rule of law or by the enforcement
of any assessment of penalty or otherwise, all such liability being by the acceptance hereof expressly waived and released and being also waived and released by the terms of the Indenture. 

(j) Prior to the Collateral Release Date, this bond shall not be valid nor become obligatory for any purpose until it shall have been
authenticated by the execution of the certificate hereon endorsed by the Trustee under the Indenture. From and after the Collateral Release Date, this bond shall not be required to be authenticated by the execution of the certificate hereon endorsed
by the Trustee under the Indenture. 
 [Remainder of page is intentionally blank] 

  
 -4- 

 IN WITNESS WHEREOF, Unitil Energy Systems, Inc.
has caused this bond to be signed in its name by its President or one of its Vice Presidents and its corporate seal to be hereunto affixed and attested by its Treasurer or one of its Assistant Treasurers, and this bond to be dated the 15th day of
September, 2020. 
  

			
	UNITIL ENERGY SYSTEMS, INC.
		
	By	 	/s/ Thomas P. Meissner, Jr.
		 	Name: Thomas P. Meissner, Jr.
		 	Title: President

  

			
	ATTEST:	 	 /s/ Todd R. Diggins

 (Corporate Seal) 

 TRUSTEE’S CERTIFICATE OF
AUTHENTICATION 
 This is one of the First Mortgage Bonds, Series R, referred to in the within mentioned Indenture.

  

			
	U.S. BANK NATIONAL ASSOCIATION
		 	Trustee
		
	By	 	/s/ Karen R. Beard
		 	Authorized Officer

 (Form of Notation of Payments on Account of Principal) 

Payments on Account of Principal 
  

 
 Date
                                Amount
Paid                                         
                                         
                                         
                     Signature 
  

 
  

 
  

 
  

 
  

 
  

 
  

 

 (Form of Endorsement) 

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto ______ the within
bond, and all rights thereunder, hereby irrevocably constituting and appointing ________________________________________________________________ attorney to transfer said bond on the books of the Company, with full power of substitution in the
premises. 
  

					
	Dated: _____________________	  	                                	  	  

		  		  	Signature of Registered Owner
	
	In the presence of _____________________________________________________________________________

 NOTICE: The signature of this assignment must correspond with the name of the payee as it
appears upon the face of the within bond in every particular, without alteration or enlargement or any change whatever. 

 SCHEDULE 

Bonds (including Omitted Bonds) 

$27,500,000 First Mortgage Bonds, Series R, due September 15, 2040 

Bond Data Document 
 PPN 913260 C*4

  

									
	 NAME OF REGISTERED
PAYEE
	  	IDENTIFYING
NUMBER	 	  	PRINCIPAL 
AMOUNT	 
	 CUDD AND CO AS NOMINEE FOR
SYMETRA LIFE INSURANCE COMPANY
	  	 	RR-1	 	  	$	2,400,000	 
	 METROPOLITAN LIFE INSURANCE
COMPANY
	  	 	RR-2	 	  	$	2,300,000	 
	 METROPOLITAN TOWER LIFE INSURANCE
COMPANY
	  	 	RR-3	 	  	$	2,300,000	 
	 THE LINCOLN NATIONAL LIFE
INSURANCE COMPANY
	  	 	RR-4	 	  	$	3,000,000	 
	 LINCOLN LIFE & ANNUITY
COMPANY OF NEW YORK
	  	 	RR-5	 	  	$	3,000,000	 
	 HARE & CO., LLC AS NOMINEE
FOR SECURIAN LIFE INSURANCE COMPANY
	  	 	RR-6	 	  	$	2,000,000	 
	 HARE & CO., LLC AS NOMINEE
FOR MINNESOTA LIFE INSURANCE COMPANY
	  	 	RR-7	 	  	$	1,500,000	 
	 WELLS FARGO BANK N.A. FBO AMERICAN
REPUBLIC INSURANCE COMPANY
	  	 	RR-8	 	  	$	500,000	 
	 HARE & CO., LLC AS NOMINEE
FOR BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.
	  	 	RR-9	 	  	$	500,000	 
	 BAND & CO AS NOMINEE
FOR CATHOLIC UNITED FINANCIAL
	  	 	RR-10	 	  	$	500,000	 
	 THE STATE LIFE INSURANCE
COMPANY
	  	 	RR-11	 	  	$	2,000,000	 
	 THE STATE LIFE INSURANCE
COMPANY
	  	 	RR-12	 	  	$	2,500,000	 
	 MAC & CO., AS NOMINEE
FOR PACIFIC LIFE INSURANCE COMPANY
	  	 	RR-13	 	  	$	3,000,000	 
	 UNITED OF OMAHA LIFE
INSURANCE COMPANY
	  	 	RR-14	 	  	$	2,000,000Exhibit

Exhibit 10.1
AMENDMENT TO COOPERATION AGREEMENT
This AMENDMENT TO COOPERATION AGREEMENT (this “Amendment”) is made as of October 1, 2020, by and among Olin Corporation (the “Company”), and Sachem Head Capital Management LP, on behalf of the entities listed on Schedule A (Sachem Head Capital Management LP, together with such entities, “Sachem Head”).
WHEREAS, the Company and Sachem Head are parties to that certain Cooperation Agreement (the “Agreement”), dated February 29, 2020;
WHEREAS, the Company and Sachem Head, in accordance with Section 15 of the Agreement, have agreed to amend certain provisions of the Agreement as provided herein, which shall be effective from the date hereof.
NOW, THEREFORE, in consideration of the covenants and promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
1.Defined Terms.  Capitalized terms used but not otherwise defined herein shall have the meanings specified in the Agreement. As used herein, the “2022 Annual Meeting” shall mean the Company’s 2022 annual meeting of shareholders (including any adjournments or postponements thereof).
2.    Expiration Date.  The definition of “Expiration Date” set forth in Section 4 of the Agreement is hereby amended and restated in its entirety to mean the earlier of (i) December 31, 2021 and (ii) the date that is sixty (60) days prior to the last date pursuant to which shareholder nominations for director elections are permitted pursuant to the Company’s bylaws with respect to the 2022 Annual Meeting.
3.    Board Size.  During the period between the 2021 Annual Meeting and the 2022 Annual Meeting, the size of the Board will not be more than thirteen (13) directors.
4.    2021 Annual Meeting Nominees.  As of the date of this Amendment, the Board has resolved to nominate each Newly Appointed Director for election to the Board at the 2021 Annual Meeting. The Company agrees that the slate of nominees recommended by the Board in the Company’s proxy statement and on its proxy card relating to the 2021 Annual Meeting shall include each Newly Appointed Director. The Company shall list each Newly Appointed Director in the proxy statement and proxy card prepared, filed and delivered in connection with such meeting and recommend that the Company’s shareholders vote in favor of the election of each Newly Appointed Director and otherwise support each Newly Appointed Director in a manner no less rigorous and favorable than the manner in which the Company supports any other nominees. Notwithstanding anything to the contrary in the Agreement (as amended by this Amendment), the Company shall not be obligated to comply with any of the requirements in this Section 4 upon the occurrence of a Triggering Event. Prior to the Expiration Date, Sachem Head agrees to promptly notify the Company 

in writing in the event that, at any time, it, together with its Affiliates, do not satisfy the threshold set forth in subclause (i) of Section 1(c) of the Agreement.
5.    2021 Meeting.  Until the Expiration Date, Sachem Head shall, or shall cause its Affiliates, Associates (each as defined in Rule 12b-2 promulgated by the SEC under the Exchange Act) or representatives to, appear in person or by proxy at the 2021 Annual Meeting and vote all shares of Common Stock, over which Sachem Head, its Affiliates or Associates has voting power in accordance with the Board’s recommendations with respect to (a) the removal or election of directors, (b) any advisory vote on executive compensation and (c) the ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2021.
6.    Operating Improvements Committee.  The Company shall not, until the earlier of the 2022 Annual Meeting and the occurrence of a Triggering Event, (i) remove any Newly Appointed Director from the Operations Committee (unless he ceases to be an independent director), (ii) amend the Charter of the Operations Committee or (iii) disband the Operations Committee, in each case, without the prior written consent of Sachem Head.
7.    Filings.  (a) Sachem Head agrees that the Company will have the opportunity to review Sachem Head’s amendment to its Schedule 13D relating to entry into this Amendment in advance of filing and that Sachem Head will consider in good faith any comments provided by the Company and (b) the Company agrees that Sachem Head will have the opportunity to review the Company’s proxy statement and proxy card and any additional solicitation materials relating to the 2021 Annual Meeting in advance of filing or first use and that the Company will consider in good faith any comments provided by Sachem Head.
8.    Representations of the Company.  The Company represents and warrants to Sachem Head that (a) the Company has the corporate power and authority to execute and deliver this Amendment and to bind it hereto, (b) this Amendment has been duly and validly authorized, executed and delivered by the Company, constitutes a valid and binding obligation and agreement of the Company, and is enforceable against the Company in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law) and (c) the execution, delivery and performance of this Amendment by the Company does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to the Company, or (ii) result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which the Company is a party or by which it is bound.
9.    Representations of Sachem Head.  Sachem Head represents and warrants to the Company that (a) Sachem Head has the power and authority to execute and deliver this Amendment and to bind itself and its affiliates to this Amendment (and Sachem Head Capital Management LP has the power and authority to execute and deliver this Amendment and to bind itself and the entities 

listed on Schedule A to this Amendment), (b) this Amendment has been duly authorized, executed and delivered by Sachem Head, constitutes a valid and binding obligation of Sachem Head, and is enforceable against Sachem Head in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law), (c) the execution of this Amendment by Sachem Head does not and will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to Sachem Head, or (ii) result in any breach or violation of or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which Sachem Head is a party or by which it is bound, (d) Sachem Head, together with its Affiliates, beneficially owns (as defined in Rule 13d-3 promulgated by the SEC under the Exchange Act) in the aggregate 14,950,000 shares of Common Stock; (e) except as disclosed on Exhibit A, Sachem Head is not a party to any swap or hedging transactions or other derivative agreements of any nature with respect to any Voting Securities; and (f) Scott Ferguson is a U.S. person and Scott Ferguson (or Scott Ferguson, together with only other U.S. persons) controls Sachem Head.
10.    Term.  Unless otherwise mutually agreed in writing by each Party and except as otherwise provided in the Agreement (as amended by this Amendment), each Party’s obligations under the Agreement (as amended by this Amendment) will extend until the completion of the 2022 Annual Meeting; provided that no expiration or termination of the Agreement (as amended by this Amendment) will relieve any Party thereto from any liability for a breach of the Agreement (as amended by this Amendment) prior to such expiration or termination. Notwithstanding the foregoing, Section 12 through Section 17 of the Agreement shall survive the termination of the Agreement (as amended by this Amendment).
11.    Except as expressly amended hereby, the Agreement shall remain in full force and effect in accordance with its terms. Unless the context otherwise requires, any reference to the Agreement shall mean the Agreement as amended hereby.
12.    The provisions of Section 11 through Section 17 of the Agreement are incorporated by reference herein mutatis mutandis and this Amendment shall be governed by and construed in accordance with such provisions.

[Signature Pages Follow]

If the terms of this Amendment are in accordance with your understanding, please sign below and this Amendment will constitute a binding agreement among us.

OLIN CORPORATION

		
	By:
	/s/ John E. Fischer

Name:  John E. Fischer
Title:  Executive Chairman

[Signature Page to Amendment to Cooperation Agreement]

Acknowledged and agreed to as of the date first written above:
SACHEM HEAD CAPITAL MANAGEMENT LP
By: Uncas GP LLC, its general partner
		
	By:
	/s/ Scott Ferguson

Name:  Scott Ferguson
Title:  Managing Partner

[Signature Page to Amendment to Cooperation Agreement]

Schedule A

List of Sachem Head Entities

Sachem Head Capital Management LP
Uncas GP LLC
Sachem Head GP LLC
Sachem Head Master LP
Sachem Head LP
SH Old Quarry Master Ltd.

Exhibit A 

Sachem Head Interests

SH Old Quarry Master Ltd. has entered into cash-settled total return swaps referencing 2,420,000 shares of Common Stock in the aggregate as described in the Schedule 13D filed by Sachem Head Capital Management LP on February 24, 2020.

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