Document:

EX-4.4

 Exhibit 4.4 

FORM OF 

VOLUME SUBMITTER 

DEFINED CONTRIBUTION PLAN 

(PROFIT SHARING/401(K) PLAN) 

A FIDELITY VOLUME SUBMITTER PLAN 

Adoption Agreement No. 001 

For use With 
 Fidelity
Basic Plan Document No. 17 
 Fidelity Management & Research Company and its affiliates do not provide tax or legal advice. Nothing
herein or in any attachments hereto should be construed, or relied upon, as tax or legal advice. 
 IRS CIRCULAR 230 DISCLOSURE: To the extent this
document (including attachments), mentions or references any tax matter, it is not intended or written to be used, and cannot be used by the recipient or any other person, for the purpose of (1) avoiding penalties under the Internal Revenue
Code or (2) promoting, marketing or recommending to another party the matter addressed herein. Please consult an independent tax advisor for advice on your particular circumstances. 

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  		  	
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	

 TABLE OF CONTENTS 

 

							
	 1.01
	 	    PLAN INFORMATION	  	 	1	  
	 1.02
	 	    EMPLOYER	  	 	2	  
	 1.03
	 	    TRUSTEE	  	 	2	  
	 1.04
	 	    COVERAGE	  	 	2	  
	 1.05
	 	    COMPENSATION	  	 	6	  
	 1.06
	 	    TESTING RULES	  	 	7	  
	 1.07
	 	    DEFERRAL CONTRIBUTIONS	  	 	8	  
	 1.08
	 	    EMPLOYEE CONTRIBUTIONS (AFTER-TAX CONTRIBUTIONS)	  	 	10	  
	 1.09
	 	    ROLLOVER CONTRIBUTIONS	  	 	11	  
	 1.10
	 	    QUALIFIED NONELECTIVE EMPLOYER CONTRIBUTIONS	  	 	11	  
	 1.11
	 	    MATCHING EMPLOYER CONTRIBUTIONS	  	 	12	  
	 1.12
	 	    NONELECTIVE EMPLOYER CONTRIBUTIONS	  	 	16	  
	 1.13
	 	    EXCEPTIONS TO CONTINUING ELIGIBILITY REQUIREMENTS	  	 	19	  
	 1.14
	 	    RETIREMENT	  	 	19	  
	 1.15
	 	    DEFINITION OF DISABLED	  	 	19	  
	 1.16
	 	    VESTING	  	 	20	  
	 1.17
	 	    PREDECESSOR EMPLOYER SERVICE	  	 	21	  
	 1.18
	 	    PARTICIPANT LOANS	  	 	21	  
	 1.19
	 	    IN-SERVICE WITHDRAWALS	  	 	21	  
	 1.20
	 	    FORM OF DISTRIBUTIONS	  	 	23	  
	 1.21
	 	    TIMING OF DISTRIBUTIONS	  	 	24	  
	 1.22
	 	    TOP HEAVY STATUS	  	 	24	  
	 1.23
	 	    CORRECTION TO MEET 415 REQUIREMENTS UNDER MULTIPLE DEFINED CONTRIBUTION PLANS	  	 	25	  
	 1.24
	 	    INVESTMENT DIRECTION	  	 	25	  
	 1.25
	 	    ADDITIONAL PROVISIONS AND PROTECTED BENEFITS	  	 	25	  
	 1.26
	 	    SUPERSEDING PROVISIONS	  	 	26	  
	 1.27
	 	    RELIANCE ON ADVISORY LETTER	  	 	26	  
	 1.28
	 	    ELECTRONIC SIGNATURE AND RECORDS	  	 	26	  
	 1.29
	 	    VOLUME SUBMITTER INFORMATION:	  	 	26	  
	 EXECUTION PAGE
	  	 	27	  
	 PLAN MERGERS ADDENDUM
	  	 	28	  
	 PARTICIPATING EMPLOYERS ADDENDUM
	  	 	29	  
	 IN-SERVICE WITHDRAWALS ADDENDUM
	  	 	30	  
	 PROTECTED BENEFIT PROVISIONS ADDENDUM
	  	 	31	  
	 FORMS OF PAYMENT ADDENDUM
	  	 	32	  
	 VESTING SCHEDULE ADDENDUM
	  	 	33	  
	 ADDITIONAL PROVISIONS ADDENDUM
	  	 	34	  
	 PLAN SUPERSEDING PROVISIONS ADDENDUM
	  	 	41	  
	 ADDENDUM TO ADOPTION AGREEMENT
	  	 	42	  
	 EFFECTIVE DATES FOR INTERIM LEGAL COMPLIANCE SNAP OFF ADDENDUM
	  	 	43	  

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	

 ADOPTION AGREEMENT 

ARTICLE 1 

PROFIT SHARING/401(k) PLAN 

 

																	
	1.01	  	PLAN INFORMATION
			
		  	(a)	  	Name of Plan:
			
		  		  	This is the Fairmount Santrol Retirement Savings Plan (the “Plan”)
			
		  	(b)	  	Type of Plan:
					
		  		  	(1)	  	 ̈	  	401(k) Only
					
		  		  	(2)	  	x	  	401(k) and Profit Sharing
					
		  		  	(3)	  	 ̈	  	Profit Sharing Only
			
		  	(c)	  	Administrator Name (if not the Employer):
			
		  	(d)	  	Plan Year End (month/day):         12/31
			
		  	(e)	  	Three Digit Plan Number:            002
			
		  	(f)	  	Limitation Year (check one):
					
		  		  	(1)	  	 ̈	  	Calendar Year
					
		  		  	(2)	  	x	  	Plan Year
					
		  		  	(3)	  	 ̈	  	Other(12-month period ending on the following date):
			
		  	(g)	  	Plan Status:
				
		  		  	(1)	  	Adoption Agreement Effective Date: 01/01/2015 (cannot be earlier than the later of (i) the first day of the 2007 Plan Year or (ii) the effective date of the Plan)
				
		  		  	(2)	  	The Adoption Agreement Effective Date is:
						
		  		  		  	(A)	  	 ̈	  	A new Plan Effective Date
						
		  		  		  	(B)	  	x	  	An amendment Effective Date (check one):
							
		  		  		  		  	(i)	  	 ̈	  	an amendment and restatement of this Basic Plan Document No. 17 (or restatement of former Fidelity Basic Plan Document No. 14) and its Adoption Agreement previously executed by the Employer;
							
		  		  		  		  	(ii)	  	x	  	a conversion to Basic Plan Document No. 17 and its Adoption Agreement.
					
		  		  		  		  	The original effective date of the Plan: 12/01/1984
					
		  		  	(3)	  	 ̈	  	Special Effective Dates. Certain provisions of the Plan shall be effective as of a date other than the date specified in Subsection 1.01(g)(1) above. Please complete the Special Effective Dates Addendum to the
Adoption Agreement indicating the affected provisions and their effective dates.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		  		  	(4)	  	x	  	Plan Merger Effective Dates. Certain plan(s) were merged into the Plan on or after the date specified in Subsection 1.01(g)(1) above. Please complete the appropriate subsection(s) of the Plan Mergers
Addendum.
					
		  		  	(5)	  	 ̈	  	Frozen Plan. The Plan is currently frozen. While the Plan is frozen, the definition of Compensation for purposes of determining contributions under Section 5.02 of the Basic Plan Document shall not include
compensation earned after the date the Plan is frozen. Plan assets will continue to be held on behalf of Participants and their Beneficiaries until distributed in accordance with the Plan terms. (If this provision is selected, it will override
any conflicting provision selected in the Adoption Agreement.)(Choose one.)
						
		  		  		  	(A)	  	 ̈	  	Contributions under the Plan are permanently discontinued. Accounts of all Employees shall be 100% vested without regard to any schedule selected in 1.16.
						
		  		  		  	(B)	  	 ̈	  	Contributions under the Plan are temporarily suspended. The Employer contemplates that contributions will resume at a later date.
				
		  		  		  	Note: Deferral Contributions and Employee Contributions shall not be taken from compensation earned after the date the Plan is frozen, however, loan repayments shall continue to be made until the loan obligation
is satisfied.
		
	1.02	  	EMPLOYER
			
		  	(a)	  	Employer Name: Fairmount Santrol, Inc.
				
		  		  	(1)	  	Employer’s Tax Identification Number: 34-1513710
				
		  		  	(2)	  	Employer’s fiscal year end: 12/31
			
		  	(b)	  	The term “Employer” includes the following participating employers (choose one):
					
		  		  	(1)	  	 ̈	  	No other employers participate in the Plan.
					
		  		  	(2)	  	x	  	Certain other employers participate in the Plan. Please complete the Participating Employers Addendum.
		
	1.03	  	TRUSTEE
				
		  	(a)	  	Trustee Name:	  	Fidelity Management Trust Company
				
		  		  	Address:	  	 82 Devonshire Street
  

Boston, MA 02109

		
	1.04	  	COVERAGE
		
		  	All Employees who meet the conditions specified below shall be eligible to participate in the Plan:
			
		  	(a)	  	Age Requirement (check one):
					
		  		  	(1)	  	 ̈	  	no age requirement.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		  		  	(2)	  	x	  	must have attained age: 18 (not to exceed 21).
			
		  	(b)	  	Eligibility Service Requirement(s) – There shall be no eligibility service requirements for contributions to the Plan unless selected below for the following contributions:

  

							
	 (1)
Deferral
Contributions,
Employee
Contributions,
Qualified
Nonelective
Employer
Contributions
	  	(2) Nonelective
Employer
Contributions	  	(3) Matching
Employer
Contributions	  	 
		  		  		  	N/A – not applicable – type(s) of contribution not selected
				
		  		  		  	days of Eligibility Service requirement (no minimum Hours of Service). (Do not indicate more than 365 days in column (1) or 730 days in either of the other columns.)
				
		  		  		  	months of Eligibility Service requirement (no minimum Hours of Service). (Do not indicate more than 12 months in column (1) or 24 months in either of the other columns.)
				
		  	1 year/1000.00
hours	  	1 year/1000.00
hours	  	one year of Eligibility Service requirement (at least                    (not to exceed 1,000) Hours of Service are required during the
Eligibility Computation Period).
				
		  		  		  	two years of Eligibility Service requirement (at least                    (not to exceed 1,000) Hours of Service are required
during the Eligibility Computation Period). (Select only for column (2) or (3).)

 Note: If the Employer selects an Eligibility Service requirement of more than 365 days or 12 months or
selects the two year Eligibility Service requirement, then (1) contributions subject to such Eligibility Service requirement must be 100% vested when made, and (2) if the Plan has selected either Safe Harbor Matching Employer Contributions
in Option 1.11(a)(3) or Safe Harbor Formula in Option 1.12(a)(3), then only one year of Eligibility Service (with at least 1000 Hours of Service) is required for such contributions. 

Note: The Plan shall be disaggregated for testing pursuant to Section 6.09 of the Basic Plan Document if a more stringent
eligibility requirement is elected in Subsection 1.04(a) or (b) either (1) with respect to Matching Employer Contributions and Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, is selected or (2) with respect to
Nonelective Employer Contributions and Option 1.12(a)(3), 401(k) Safe Harbor Formula, is selected, than with respect to Deferral Contributions. 

Note: If different eligibility requirements are selected for Deferral Contributions than for Employer Contributions and the Plan
becomes a “top-heavy plan,” the Employer may need to make a minimum Employer Contribution on behalf of non-key Employees who have satisfied the eligibility requirements for Deferral Contributions and are employed on the last day of the
Plan Year, but have not satisfied the eligibility requirements for Employer Contributions. 
  

																					
						
		  		  		  	(4)	  	 ̈	  	Hours of Service Crediting. Hours of Service will be credited in accordance with the equivalency selected in the Hours of Service Equivalencies Addendum rather than in accordance with the equivalency described in
Subsection 2.01(cc) of the Basic Plan Document. Please complete the Hours of Service Equivalencies Addendum.
				
		  		  	(c)	  	Eligibility Computation Period – The Eligibility Computation Period is the 12-consecutive-month period beginning on an Employee’s Employment Commencement Date and each
12-consecutive-month period beginning on an anniversary of his Employment Commencement Date except as modified in the Additional Provisions Addendum.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		  		  	(d)	  	Eligible Class of Employees:
					
		  		  		  	(1)	  	Generally, the Employees eligible to participate in the Plan are (choose one):
							
		  		  		  		  	(A)	  	x	  	all Employees of the Employer.
							
		  		  		  		  	(B)	  	 ̈	  	only Employees of the Employer who are covered by (choose one):
								
		  		  		  		  		  	(i)	  	 ̈	  	any collective bargaining agreement with the Employer, provided that the agreement requires the employees to be included under the Plan.
								
		  		  		  		  		  	(ii)	  	 ̈	  	the following collective bargaining agreement(s) with the Employer:
								
		  		  		  		  		  		  		  	                                    
                                         
                               
						
		  		  		  	(2)	  	x	  	Notwithstanding the selection in Subsection 1.04(d)(1) above, certain Employees of the Employer are excluded from participation in the Plan:
					
		  		  		  		  	Note: Certain employees (e.g., residents of Puerto Rico) are excluded automatically pursuant to Subsection 2.01(r) of the Basic Plan Document, regardless of the Employer’s selection under this Subsection
1.04(d)(2).
							
		  		  		  		  	(A)	  	 ̈	  	employees covered by a collective bargaining agreement, unless the agreement requires the employees to be included under the Plan. (Do not choose if Option 1.04(d)(1)(B) is selected above.)
							
		  		  		  		  	(B)	  	 ̈	  	Highly Compensated Employees as defined in Subsection 2.01(bb) of the Basic Plan Document.
							
		  		  		  		  	(C)	  	x	  	Leased Employees as defined in Subsection 2.01(ee) of the Basic Plan Document.
							
		  		  		  		  	(D)	  	x	  	nonresident aliens who do not receive any earned income from the Employer which constitutes United States source income.
							
		  		  		  		  	(E)	  	x	  	other:
							
		  		  		  		  		  		  	Participants who have made an irrevocable election not to participate; Part-time employees, Temporary Employees; Employees classified as Summer help
						
		  		  		  		  		  	Note: The eligible group defined above must be a definitely determinable group and cannot be subject to the discretion of the Employer. In addition, the design of the classifications cannot be such that the only
Non-Highly Compensated Employees benefiting under the Plan are those with the lowest compensation and/or the shortest periods of service and who may represent the minimum number of such employees necessary to satisfy coverage under Code Section
410(b).
								
		  		  		  		  		  	(i)	  	x	  	Notwithstanding this exclusion, any Employee who would otherwise be excluded from participation solely because he is in a group described below shall be part of the class of Employees eligible to participate in the Plan
and, if he has never been a Participant in the Plan previously, will be required to meet different age and service requirements for

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		  		  		  		  		  		  		  	eligibility than those specified in Subsections (a) and (b) permitting him to enter on the Entry Date immediately following the end of the Eligibility Computation Period during which he first satisfies the following
requirements: (I) has attained age 21 and (II) has completed at least 1,000 Hours of Service. This Subsection 1.04(d)(2)(E)(i) applies to the following excluded Employees (Must choose if an exclusion in (E) above directly or indirectly
imposes an age and/or service requirement for participation, for example by excluding part-time or temporary employees):
								
		  		  		  		  		  		  		  	 Part-time employees, Temporary Employees

						
		  		  		  		  		  	Note: Exclusion of employees may adversely affect the Plan’s satisfaction of the minimum coverage requirements, as provided in Code Section 410(b).
				
		  		  	(e)	  	Entry Dates – The Entry Dates shall be as indicated below with respect to the applicable type(s) of contribution. (Complete the table below by checking the appropriate boxes to indicate Entry
Dates for the contributions listed.)

  

									
	 	  	(1) Deferral
Contributions,
Employee
Contributions,
Qualified
Nonelective
Employer
Contributions	  	(2) Nonelective
Employer
Contributions	  	(3) Matching
Employer
Contributions	  	 
	(A)	  		  		  		  	N/A – not applicable – type(s) of contribution not selected
					
	(B)	  	X	  		  	X	  	Immediate upon meeting the eligibility requirements specified in Subsections 1.04(a) and 1.04(b)
					
	(C)	  		  		  		  	the first day of each Plan Year and the first day of the seventh month of each Plan Year
					
	(D)	  		  		  		  	the first day of each Plan Year and the first day of the fourth, seventh, and tenth months of each Plan Year
					
	(E)	  		  	X	  		  	the first day of each month
					
	(F)	  		  		  		  	the first day of each Plan Year (Do not select if there is an Eligibility Service requirement of more than six months in Subsection 1.04(b) for the type(s) of contribution or if there is an age requirement of more than 20 1/2
in Subsection 1.04(a) for the type(s) of contribution.)

  

																					
		  		  		  	Note: If another plan is merged into the Plan, the Plan may provide on the Plan Mergers Addendum that the effective date of the merger is also an Entry Date with respect to certain Employees.
				
		  		  	(f)	  	Date of Initial Participation – An Eligible Employee shall become a Participant on the Entry Date coinciding with or immediately following the date such Eligible Employee completes the age and
service requirement(s) in Subsections 1.04(a) and (b), if any, or in Subsection 1.04(d)(2)(E)(i), if applicable, except (check one):
						
		  		  		  	(1)	  	x	  	no exceptions.
						
		  		  		  	(2)	  	 ̈	  	Eligible Employees employed on (insert date) shall become Participants on that date.
						
		  		  		  	(3)	  	 ̈	  	Eligible Employees who meet the age and service requirement(s) of Subsections 1.04(a) and (b) on (insert date) shall become Participants on that date.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
		  	5	  	

																					
			
	1.05	  		  	COMPENSATION
			
		  		  	Compensation, as defined in Subsection 2.01(k) of the Basic Plan Document, shall be modified as provided below.
				
		  		  	(a)	  	Compensation Exclusions – Compensation shall not include reimbursements or other expense allowances, fringe benefits (cash and non-cash), moving expenses, deferred compensation, welfare
benefits, unused leave (as described in Section 2.01(k)(2)), or any of the following additional item(s):
						
		  		  		  	(1)	  	 ̈	  	No additional exclusions.
						
		  		  		  	(2)	  	 ̈	  	Differential Wages.
						
		  		  		  	(3)	  	 ̈	  	Overtime pay.
						
		  		  		  	(4)	  	 ̈	  	Bonuses.
						
		  		  		  	(5)	  	 ̈	  	Commissions.
						
		  		  		  	(6)	  	 ̈	  	The value of restricted stock or of a qualified or a non-qualified stock option granted to an Employee by the Employer to the extent such value is includable in the Employee’s taxable income.
						
		  		  		  	(7)	  	 ̈	  	Severance pay received prior to termination of employment. (Severance pay received following termination of employment is a severance amount as described in Subsection 2.01(k) and is always excluded.)
						
		  		  		  	(8)	  	x	  	See Additional Provisions Addendum.
				
		  		  		  	Note: If the Employer selects an option, other than (1) or (2) above, with respect to Nonelective Employer Contributions, Compensation must be tested to show that it meets the requirements of Code Section 414(s)
or the allocations must be tested to show that they meet the general test under regulations issued under Code Section 401(a)(4). If the Employer selects an option, other than (1) or (2) above, and Option 1.11(a)(3), Safe Harbor Matching Employer
Contributions, is selected, a Participant must be permitted to make Deferral Contributions under the Plan sufficient to receive the full 401(k) Safe Harbor Matching Employer Contribution, determined as a percentage of Compensation meeting the
requirements of Code Section 414(s).
				
		  		  	(b)	  	Compensation for the First Year of Participation – Contributions for the Plan Year in which an Employee first becomes a Participant shall be determined based on the Employee’s Compensation as
provided below.
						
		  		  		  	(1)	  	 ̈	  	Compensation for the entire Plan Year. (Complete (A) below, if applicable. If (A) is not selected, the amount of any Nonelective Employer Contribution for the initial Plan Year will be determined in accordance with
this subsection 1.05(b)(1) using only Compensation from the Effective Date of the Plan through the end of the initial Plan Year.)
								
		  		  		  		  	(A)	  	 ̈	  		  	For purposes of determining the amount of Nonelective Employer Contributions, other than 401(k) Safe Harbor Nonelective Employer Contributions, Compensation for the 12-month period ending on the last day of the initial
Plan Year shall be used.
						
		  		  		  	(2)	  	x	  	Only Compensation for the portion of the Plan Year in which the Employee is eligible to participate in the Plan. (Complete (A) below, if applicable. If (A) is not selected, the amount of any Nonelective Employer
Contribution for the initial Plan Year will be determined in accordance with this subsection 1.05(b)(2) using only Compensation from the Effective Date of the Plan through the end of the initial Plan
Year.)

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
		  	6	  	

																					
							
		 		  		  		  	(A)	  	 ̈	  	For purposes of determining the amount of Nonelective Employer Contributions, other than 401(k) Safe Harbor Nonelective Employer Contributions, for those Employees who become Active Participants on the Effective
Date of the Plan, Compensation for the 12-month period ending on the last day of the initial Plan Year shall be used. For all other Employees, only Compensation for the period in which they are eligible shall be used.
			
		 	1.06	  	TESTING RULES
				
		 		  	(a)	  	ADP/ACP Present Testing Method – The testing method for purposes of applying the “ADP” and “ACP” tests described in Sections 6.03 and 6.06 of the Basic Plan Document shall
be the (check one):
						
		 		  		  	(1)	  	x	  	Current Year Testing Method – The “ADP” or “ACP” of Highly Compensated Employees for the Plan Year shall be compared to the “ADP” or “ACP” of Non-Highly Compensated
Employees for the same Plan Year. (Must choose if Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is
checked.)
						
		 		  		  	(2)	  	 ̈	  	Prior Year Testing Method – The “ADP” or “ACP” of Highly Compensated Employees for the Plan Year shall be compared to the “ADP” or “ACP” of Non-Highly Compensated
Employees for the immediately preceding Plan Year. (Do not choose if Option 1.10(a)(1), alternative allocation formula for Qualified Nonelective Contributions.)
						
		 		  		  	(3)	  	 ̈	  	Not applicable. (Only if Option 1.01(b)(3), Profit Sharing Only, is checked and Option 1.08(a)(1), Future Employee Contributions, and Option 1.11(a), Matching Employer Contributions, are not checked or Option
1.04(d)(2)(B), excluding all Highly Compensated Employees from the eligible class of Employees, is checked.)
				
		 		  		  	Note: Restrictions apply on elections to change testing methods.
				
		 		  	(b)	  	First Year Testing Method – If the first Plan Year that the Plan, other than a successor plan, permits Deferral Contributions or provides for either Employee or Matching Employer Contributions, occurs
on or after the Effective Date specified in Subsection 1.01(g), the “ADP” and/or “ACP” test for such first Plan Year shall be applied using the actual “ADP” and/or “ACP” of Non-Highly Compensated Employees for
such first Plan Year, unless otherwise provided below.
						
		 		  		  	(1)	  	 ̈	  	The “ADP” and/or “ACP” test for the first Plan Year that the Plan permits Deferral Contributions or provides for either Employee or Matching Employer Contributions shall be applied assuming a 3%
“ADP” and/or “ACP” for Non-Highly Compensated Employees. (Do not choose unless Plan uses prior year testing method described in Subsection 1.06(a)(2).)
				
		 		  	(c)	  	HCE Determinations: Look Back Year – The look back year for purposes of determining which Employees are Highly Compensated Employees shall be the 12-consecutive-month period preceding the Plan Year,
unless otherwise provided below.
						
		 		  		  	(1)	  	 ̈	  	Calendar Year Determination – The look back year shall be the calendar year beginning within the preceding Plan Year. (Do not choose if the Plan Year is the calendar
year.)

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		 		  	(d)	  	HCE Determinations: Top Paid Group Election – All Employees with Compensation exceeding the dollar amount specified in Code Section 414(q)(1)(B)(i) adjusted pursuant to Code
Section 415(d) (e.g., $115,000 for “determination years” beginning in 2013 and “look-back years” beginning in 2012) shall be considered Highly Compensated Employees, unless Top Paid Group Election below is checked.
						
		 		  		  	(1)	  	x	  	Top Paid Group Election – Employees with Compensation exceeding the dollar amount specified in Code Section 414(q)(1)(B)(i) adjusted pursuant to Code Section 415(d) shall be considered Highly Compensated
Employees only if they are in the top paid group (the top 20% of Employees ranked by Compensation).
			
		 		  	Note: Plan provisions for Sections 1.06(c) and 1.06(d) must apply consistently to all retirement plans of the Employer for determination years that begin with or within the same calendar year
			
		 	1.07	  	DEFERRAL CONTRIBUTIONS
					
		 		  	(a)	  	x	  	Deferral Contributions – Participants may elect to have a portion of their Compensation contributed to the Plan on a before-tax basis pursuant to Code Section 401(k).
					
		 		  		  	(1)	  	Regular Contributions – The Employer shall make a Deferral Contribution in accordance with Section 5.03 of the Basic Plan Document on behalf of each Participant who has an executed salary reduction agreement
in effect with the Employer for the payroll period in question. Such Deferral Contribution shall not exceed the deferral limit below.
							
		 		  		  		  	(A)	  	x	  	The deferral limit is 75.00% (must be a whole number multiple of one percent) of Compensation.
					
		 		  		  		  	Note: If Catch-Up Contributions are selected below, a Participant eligible to make Catch-Up Contributions shall (subject to the statutory limits in Treasury Regulation Section 1.414(v)-1(b)(1)(i)) in any event be
permitted to contribute in excess of the specified deferral limit up to 100% of the Participant’s “effectively available Compensation” (i.e., Compensation available after other withholding).
							
		 		  		  		  	(B)	  	 ̈	  	Instead of specifying a percentage of Compensation, a Participant’s salary reduction agreement may specify a dollar amount to be contributed each payroll period, provided such dollar amount does not exceed the
maximum percentage of Compensation specified in Subsection 5.03(a) of the Basic Plan Document or in Subsection 1.07(a)(1)(A) above, as applicable.
						
		 		  		  		  	(C)	  	A Participant may change, on a prospective basis, his salary reduction agreement (check one):
								
		 		  		  		  		  	 (i)
	  	x	  	as of the beginning of each payroll period.
								
		 		  		  		  		  	 (ii)
	  	 ̈	  	as of the first day of each month.
								
		 		  		  		  		  	 (iii)
	  	 ̈	  	as of each Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
								
		 		  		  		  		  	 (iv)
	  	 ̈	  	as of the first day of each calendar quarter.
								
		 		  		  		  		  	 (v)
	  	 ̈	  	as of the first day of each Plan Year.

  

					
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		  		  	09626-1414473010AA
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		 		  		  		  		  	(vi)	  	 ̈	  	other. (Specify, but must be at least once per Plan Year)
								
		 		  		  		  		  		  		  	                                    
                                         
             
						
		 		  		  		  		  	Note: Notwithstanding the Employer’s election hereunder, if Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to
Nonelective Employer Contributions is checked, the Plan provides that an Active Participant may change his salary reduction agreement for the Plan Year within a reasonable period (not fewer than 30 days) of receiving the notice described in Section
6.09 of the Basic Plan Document.
						
		 		  		  		  	(D)	  	A Participant may revoke, on a prospective basis, a salary reduction agreement at any time upon proper notice to the Administrator but in such case may not complete a new salary reduction agreement until (check
one):
								
		 		  		  		  		  	(i)	  	x	  	the beginning of the next payroll period.
								
		 		  		  		  		  	(ii)	  	 ̈	  	the first day of the next month.
								
		 		  		  		  		  	(iii)	  	 ̈	  	the next Entry Date. (Do not select if immediate entry is elected with respect to Deferral Contributions in Subsection 1.04(e).)
								
		 		  		  		  		  	(iv)	  	 ̈	  	as of the first day of each calendar quarter.
								
		 		  		  		  		  	(v)	  	 ̈	  	as of the first day of each Plan Year.
								
		 		  		  		  		  	(vi)	  	 ̈	  	other. (Specify, but must be at least once per Plan Year)
								
		 		  		  		  		  		  		  	                                    
                                         
             
						
		 		  		  	(2)	  	 ̈	  	Additional Deferral Contributions – The Employer shall allow a Participant upon proper notice and approval to enter into a special salary reduction agreement to make additional Deferral Contributions in an
amount up to 100% of their effectively available Compensation for the payroll period(s) designated by the Employer.
						
		 		  		  	(3)	  	 ̈	  	Bonus Contributions – The Employer shall allow a Participant upon proper notice and approval to enter into a special salary reduction agreement to make Deferral Contributions from any Employer paid cash
bonuses designated by the Employer on a uniform and nondiscriminatory basis that are made for such Participants during the Plan Year in an amount up to 100% of such bonuses. The Compensation definition elected by the Employer in Subsection 1.05(a)
must include bonuses if bonus contributions are permitted. Unless a Participant has entered into a special salary reduction agreement with respect to bonuses, the percentage deferred from any Employer paid cash bonus shall be (check (A) or (B)
below):
							
		 		  		  		  	(A)	  	 ̈	  	Zero.
							
		 		  		  		  	(B)	  	 ̈	  	The same percentage elected by the Participant for his regular contributions in accordance with Subsection 1.07(a)(1) above or deemed to have been elected by the Participant in accordance with Option 1.07(a)(6)
below.
				
		 		  		  	Note: A Participant’s contributions under Subsection 1.07(a)(2) and/or (3) may not cause the Participant to exceed the percentage limit specified by the Employer in Subsection 1.07(a)(1)(A) for the full
Plan Year. If the Administrator anticipates that the Plan will not satisfy the “ADP” and/or “ACP” test for the year, the Administrator may reduce the rate of Deferral Contributions of Participants who are Highly Compensated
Employees to an amount objectively determined by the Administrator to be necessary to satisfy the “ADP” and/or “ACP” test.

  

					
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		  		  	09626-1414473010AA
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		 		  		  	(4)	  	x	  	Catch-Up Contributions – The following Participants who have attained or are expected to attain age 50 before the close of the Taxable year will be permitted to make Catch-Up Contributions to the Plan, as
described in Subsection 5.03(a) of the Basic Plan Document:
							
		 		  		  		  	(A)	  	x	  	All such Participants.
							
		 		  		  		  	(B)	  	 ̈	  	All such Participants except those covered by a collective-bargaining agreement under which retirement benefits were a subject of good faith bargaining unless the bargaining agreement specifically provides for Catch-Up
Contributions to be made on behalf of such Participants.
					
		 		  		  		  	Note: The Employer must not select Option 1.07(a)(4) above unless all applicable plans (as defined in Code Section 414(v)(6)(A), other than any plan that is qualified under Puerto
Rican law or that covers only employees who are covered by a collective bargaining agreement under which retirement benefits were a subject of good faith bargaining) maintained by the Employer and by any other employer that is treated as a single
employer with the Employer under Code Section 414(b), (c), (m), or (o) also permit Catch-Up Contributions in the same dollar amount.
						
		 		  		  	(5)	  	x	  	Roth 401(k) Contributions. Participants shall be permitted to irrevocably designate pursuant to Subsection 5.03(b) of the Basic Plan Document that a portion or all of the Deferral Contributions made under
this Subsection 1.07(a) are Roth 401(k) Contributions that are includable in the Participant’s gross income at the time deferred.
						
		 		  		  	(6)	  	x	  	Automatic Enrollment Contributions. Unless they affirmatively elect otherwise, certain Eligible Employees will have their Compensation reduced in accordance with the provisions of Subsection 5.03(c) of the
Basic Plan Document (an “Automatic Enrollment Contribution”), Section 1.07(b) of the Additional Provisions Addendum, and the following:
							
		 		  		  		  	(A)	  	x	  	All newly Eligible Employees shall be subject to the same automatic enrollment provisions.
							
		 		  		  		  	(B)	  	 ̈	  	The automatic enrollment provisions of the Plan shall be/are different for different groups of Eligible Employees.
							
		 		  		  		  	(C)	  	x	  	Some form of automatic deferral increase will be part of the automatic enrollment provisions.
							
		 		  		  		  	(D)	  	 ̈	  	A qualified automatic contribution arrangement described in Code Section 401(k)(13) (“QACA”) has been adopted. (Select Option 1.11(a)(3) or 1.12(a)(3) and complete appropriate Addendum.)
							
		 		  		  		  	(E)	  	 ̈	  	An eligible automatic enrollment arrangement described in Code Section 414(w) (“EACA”) has been adopted.
			
		 	1.08	  	EMPLOYEE CONTRIBUTIONS (AFTER-TAX CONTRIBUTIONS)
					
		 		  	(a)	  	 ̈	  	Future Employee Contributions – Participants may make voluntary, non-deductible, after-tax Employee Contributions pursuant to Section 5.04 of the Basic Plan Document. The Employee Contribution made on
behalf of an Active Participant each payroll period shall not exceed the contribution limit specified in Subsection 1.08(a)(1) below.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
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		  	All rights reserved.	  	
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		 		  		  	(1)	  	The contribution limit is           % of Compensation.
					
		 		  	(b)	  	x	  	Frozen Employee Contributions – Participants may not currently make after-tax Employee Contributions to the Plan, but the Employer does maintain frozen Employee Contributions Accounts.
			
		 	1.09	  	ROLLOVER CONTRIBUTIONS
					
		 		  	(a)	  	x	  	Rollover Contributions – Employees may roll over eligible amounts from other plans to the Plan subject to the additional following requirements:
						
		 		  		  	(1)	  	x	  	The Plan will not accept rollovers of after-tax employee contributions.
						
		 		  		  	(2)	  	 ̈	  	The Plan will not accept rollovers of designated Roth contributions. (Must be selected if Roth 401(k) Contributions are not elected in Subsection 1.07(a)(5).)
					
		 		  	(b)	  	x	  	In-Plan Roth Rollover Contributions (Choose only if Roth 401(k) Contributions are selected in Option 1.07(a)(5) above) – Unless Option 1.09(b)(1) is selected below and in accordance with Section 5.06
of the Basic Plan Document, any Participant, spousal alternate payee or spousal Beneficiary may elect to have otherwise distributable portions of his Account, which are not part of an outstanding loan balance pursuant to Article 9 of the Basic Plan
Document and are not “designated Roth contributions” under the Plan, be considered “designated Roth contributions” for purposes of the Plan.
						
		 		  		  	(1)	  	 ̈	  	Only a Participant who is still employed by the Employer (or a spousal alternate payee or spousal Beneficiary of such a Participant) may elect to make such an in-plan Roth Rollover.
			
		 	1.10	  	QUALIFIED NONELECTIVE EMPLOYER CONTRIBUTIONS
				
		 		  	(a)	  	Qualified Nonelective Employer Contributions – The Employer may contribute an amount which it designates as a Qualified Nonelective Employer Contribution for any permissible purpose, as
provided in Section 5.07 of the Basic Plan Document. If Option 1.07(a) or 1.08(a)(1)is checked, except as provided in Section 5.07 of the Basic Plan Document or as otherwise provided below, Qualified Nonelective Employer Contributions
shall be allocated to all Participants who were eligible to participate in the Plan at any time during the Plan Year and are Non-Highly Compensated Employees in the ratio which each such Participant’s “testing compensation”, as
defined in Subsection 6.01(s) of the Basic Plan Document, for the Plan Year bears to the total of all such Participants’ “testing compensation” for the Plan Year.
						
		 		  		  	(1)	  	x	  	Qualified Nonelective Employer Contributions shall be allocated only among such Participants described above who are designated by the Employer as eligible to receive a Qualified Nonelective Employer Contribution for
the Plan Year. The amount of the Qualified Nonelective Employer Contribution allocated to each such Participant shall be as designated by the Employer, but not in excess of the “regulatory maximum.” The “regulatory maximum” means
5% (10% for Qualified Nonelective Contributions made in connection with the Employer’s obligation to pay prevailing wages) of the “testing compensation” for such Participant for the Plan Year. The “regulatory maximum” shall
apply separately with respect to Qualified Nonelective Contributions to be included in the “ADP” test and Qualified Nonelective Contributions to be included in the “ACP” test. (Cannot be selected if the Employer has elected
prior year testing in Subsection 1.06(a)(2).)

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		 	1.11	  	MATCHING EMPLOYER CONTRIBUTIONS
					
		 		  	(a)	  	x	  	Matching Employer Contributions – The Employer shall make Matching Employer Contributions on behalf of each of its “eligible” Participants as provided in this Section 1.11. For purposes of
this Section 1.11, an “eligible” Participant means any Participant who is an Active Participant during the Contribution Period and who satisfies the requirements of Subsection 1.11(e) or Section 1.13.
						
		 		  		  	(1)	  	x	  	Non-Discretionary Matching Employer Contributions – The Employer shall make a Matching Employer Contribution on behalf of each “eligible” Participant in an amount equal to the following percentage
of the eligible contributions made by the “eligible” Participant during the Contribution Period (complete all that apply):
							
		 		  		  		  	(A)	  	x	  	Flat Percentage Match: 50.00% to all “eligible” Participants.
							
		 		  		  		  	(B)	  	 ̈	  	Tiered Match:                     % of the first
                    % of the “eligible” Participant’s Compensation contributed to the Plan,
							
		 		  		  		  		  		  	                    % of the next
                    % of the “eligible” Participant’s Compensation contributed to the Plan,
							
		 		  		  		  		  		  	                    % of the next
                    % of the “eligible” Participant’s Compensation contributed to the Plan.
						
		 		  		  		  		  	Note: The group of “eligible” Participants benefiting under each match rate must satisfy the nondiscriminatory coverage requirements of Code Section 410(b) and the group to whom the match rate is
effectively available must not substantially favor HCEs.
							
		 		  		  		  	(C)	  	x	  	Limit on Non-Discretionary Matching Employer Contributions (check the appropriate box(es)):
								
		 		  		  		  		  	(i)	  	x	  	Contributions in excess of 5.00% of the “eligible” Participant’s Compensation for the Contribution Period shall not be considered for non-discretionary
Matching Employer Contributions.
								
		 		  		  		  		  	(ii)	  	 ̈	  	Matching Employer Contributions for each “eligible” Participant for each Plan Year shall be limited to $            .
						
		 		  		  	(2)	  	 ̈	  	Discretionary Matching Employer Contributions – The Employer may make a discretionary Matching Employer Contribution on behalf of “eligible” Participants, or a designated group of
“eligible” Participants, in accordance with Section 5.08 of the Basic Plan Document. An “eligible” Participant’s allocable share of the discretionary Matching Employer Contribution shall be a percentage of the eligible
contributions made by the “eligible” Participant during the Contribution Period. The Employer may limit the eligible contributions taken into account under the allocation formula to contributions up to a specified percentage of
Compensation or dollar amount or may provide for Matching Employer Contributions to be made in a different ratio for eligible contributions above and below a specified percentage of Compensation or dollar amount. The Matching Employer Contribution
is allocated among “eligible” Participants so that each “eligible” Participant receives a rate or amount that is identical to the rate or amount received by all other “eligible” Participants (or designated group of
“eligible” Participants, if applicable) as determined by the Employer on or before the due date of the Employer’s tax return for the year of allocation.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		 		  		  		  		  	Note: If the Matching Employer Contribution made in accordance with this Subsection 1.11(a)(2) matches different percentages of contributions for different groups of “eligible” Participants, the group
of “eligible” Participants benefiting under each match rate must satisfy the nondiscriminatory coverage requirements of Code Section 410(b) and the group to whom the match rate is effectively available must not substantially favor
HCEs.
							
		 		  		  		  	(A)	  	 ̈	  	4% Limitation on Discretionary Matching Employer Contributions for Deemed Satisfaction of “ACP” Test – In no event may the dollar amount of the discretionary Matching Employer Contribution made on
an “eligible” Participant’s behalf for the Plan Year exceed 4% of the “eligible” Participant’s Compensation for the Plan Year. (Only if Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective
Employer Contributions is checked.)
						
		 		  		  	(3)	  	 ̈	  	401(k) Safe Harbor Matching Employer Contributions – If the Employer elects one of the safe harbor formula Options provided in the 401(k) Safe Harbor Matching Employer Contributions Addendum to the Adoption
Agreement and provides written notice each Plan Year to all Active Participants of their rights and obligations under the Plan, the Plan shall be deemed to satisfy the “ADP” test and, under certain circumstances, the “ACP”
test.
					
		 		  	(b)	  	 ̈	  	Additional Matching Employer Contributions – The Employer may at Plan Year end make an additional Matching Employer Contribution on behalf of each “eligible” Participant in an amount equal
to a percentage of the eligible contributions made by each “eligible” Participant during the Plan Year. The additional Matching Employer Contribution may be limited to match only contributions up to a specified percentage of Compensation
or limit the amount of the match to a specified dollar amount.
					
		 		  		  		  	Note: If the additional Matching Employer Contribution made in accordance with this Subsection 1.11(b) matches different percentages of contributions for different groups of “eligible” Participants, the
group of “eligible” Participants benefiting under each match rate must satisfy the nondiscriminatory coverage requirements of Code Section 410(b) and the group to whom the match rate is effectively available must not substantially
favor HCEs.
						
		 		  		  	(1)	  	 ̈	  	4% Limitation on additional Matching Employer Contributions for Deemed Satisfaction of “ACP” Test – In no event may the dollar amount of the additional Matching Employer Contribution made on an
“eligible” Participant’s behalf for the Plan Year exceed 4% of the “eligible” Participant’s Compensation for the Plan Year. (Only if Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option
1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked.)
				
		 		  		  	Note: If the Employer elected Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, above and wants to be deemed to have satisfied the “ADP” test, the additional Matching Employer
Contribution must meet the requirements of Section 6.09 of the Basic Plan Document. In addition to the foregoing requirements, if the Employer elected Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3),
401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions, and wants to be deemed to have satisfied the “ACP” test with respect to Matching Employer Contributions for the Plan Year, the eligible contributions matched
may not exceed the limitations in Section 6.10 of the Basic Plan Document.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		 		  	(c)	  	Contributions Matched – The Employer matches the following contributions (check appropriate box(es)):
					
		 		  		  	(1)	  	Deferral Contributions - Deferral Contributions made to the Plan are matched at the rate specified in this Section 1.11. Catch-Up Contributions are not matched unless the Employer elects Option 1.11(c)(1)(A)
below.
							
		 		  		  		  	(A)	  	 ̈	  	Catch-Up Contributions made to the Plan pursuant to Subsection 1.07(a)(4) are matched at the rates specified in this Section 1.11.
							
		 		  		  		  		  		  	Note: Notwithstanding the above, if the Employer elected Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, Deferral Contributions shall be matched at the rate specified in the 401(k) Safe
Harbor Matching Employer Contributions Addendum to the Adoption Agreement without regard to whether they are Catch-Up Contributions.
				
		 		  	(d)	  	Contribution Period for Matching Employer Contributions - The Contribution Period for purposes of calculating the amount of Matching Employer Contributions is:
						
		 		  		  	(1)	  	 ̈	  	each calendar month.
						
		 		  		  	(2)	  	 ̈	  	each Plan Year quarter.
						
		 		  		  	(3)	  	x	  	each Plan Year.
						
		 		  		  	(4)	  	 ̈	  	each payroll period.
						
		 		  		  	(5)	  	 ̈	  	The Employer shall determine the Contribution Period for calculation of any discretionary Matching Employer Contributions elected pursuant to Option 1.11(a)(2) above at the time that the matching contribution formula is
determined.
				
		 		  		  	The Contribution Period for additional Matching Employer Contributions described in Subsection 1.11(b) is the Plan Year.
				
		 		  		  	Note: If Option (5) is selected, one of the other options must be selected to apply to any non-discretionary Matching Employer Contributions.
				
		 		  		  	Note: If Matching Employer Contributions are made more frequently than for the Contribution Period selected above, the Employer must calculate the Matching Employer Contribution required with respect to the full
Contribution Period, taking into account the “eligible” Participant’s contributions and Compensation for the full Contribution Period, and contribute any additional Matching Employer Contributions necessary to “true up” the
Matching Employer Contribution so that the full Matching Employer Contribution is made for the Contribution Period.
				
		 		  	(e)	  	Continuing Eligibility Requirement(s) – A Participant who is an Active Participant during a Contribution Period and makes eligible contributions during the
Contribution Period shall only be entitled to receive Matching Employer Contributions under Section 1.11 for that Contribution Period if the Participant satisfies the following requirement(s) (Check the appropriate box(es). Options (3) and
(4) may not be elected together; Option (5) may not be elected with Option (2), (3), or (4); Options (2), (3), (4), (5), and (7) may not be elected with respect to Matching Employer Contributions if Option 1.11(a)(3), 401(k) Safe
Harbor Matching Employer Contributions, is checked or if Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked and the Employer intends to satisfy the Code Section 401(m)(11) safe harbor
with respect to Matching Employer Contributions):
						
		 		  		  	(1)	  	x	  	No requirements.
						
		 		  		  	(2)	  	 ̈	  	Is employed by the Employer or a Related Employer on the last day of the Contribution Period.

  

					
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		  		  	09626-1414473010AA
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		 		  		  	(3)	  	 ̈	  	Earns at least 501 Hours of Service during the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(4)	  	 ̈	  	Earns at least (not to exceed 1,000) Hours of Service during the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(5)	  	 ̈	  	Either earns at least 501 Hours of Service during the Plan Year or is employed by the Employer or a Related Employer on the last day of the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(6)	  	 ̈	  	Is not a Highly Compensated Employee for the Plan Year.
						
		 		  		  	(7)	  	 ̈	  	Is not a partner or a member of the Employer, if the Employer is a partnership or an entity taxed as a partnership.
						
		 		  		  	(8)	  	 ̈	  	Special continuing eligibility requirement(s) for additional Matching Employer Contributions. (Only if Option 1.11(b), Additional Matching Employer Contributions, is checked.)
						
		 		  		  		  	(A)	  	The continuing eligibility requirement(s) for additional Matching Employer Contributions is/are:
                   (Fill in number of applicable eligibility requirement(s) from above, including the number of Hours of Service if Option
(4) has been selected. Options (2), (3), (4), (5), and (7) may not be elected with respect to additional Matching Employer Contributions if Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, is checked or if Option
1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions is checked and the Employer intends to satisfy the Code Section 401(m)(11) safe harbor with respect to Matching Employer
Contributions.)
				
		 		  		  	Note: Except when added in conjunction with the addition of a new Matching Employer Contribution, if Option (2), (3), (4), or (5) is adopted during a Contribution Period, such Option shall not become
effective until the first day of the next Contribution Period. Matching Employer Contributions attributable to the Contribution Period that are funded during the Contribution Period shall not be subject to the eligibility requirements of Option (2),
(3), (4), or (5). If Option (2), (3), (4), (5), or (7) is elected with respect to any Matching Employer Contributions and if Option 1.12(a)(3), 401(k) Safe Harbor Formula, is also elected, the Plan will not be deemed to satisfy the
“ACP” test in accordance with Section 6.10 of the Basic Plan Document and will have to pass the “ACP” test each year.
					
		 		  	(f)	  	x	  	Qualified Matching Employer Contributions – Prior to making any Matching Employer Contribution hereunder (other than a 401(k) Safe Harbor Matching Employer Contribution), the Employer may designate
all or a portion of such Matching Employer Contribution as a Qualified Matching Employer Contribution that may be used to satisfy the “ADP” test on Deferral Contributions and excluded in applying the “ACP” test on Employee and
Matching Employer Contributions. Unless the additional eligibility requirement is selected below, Qualified Matching Employer Contributions shall be allocated to all Participants who were Active Participants during the Contribution Period and who
meet the continuing eligibility requirement(s) described in Subsection 1.11(e) above for the type of Matching Employer Contribution being characterized as a Qualified Matching Employer Contribution.
						
		 		  		  	(1)	  	x	  	To receive an allocation of Qualified Matching Employer Contributions a Participant must also be a Non-Highly Compensated Employee for the Plan Year.
				
		 		  		  	Note: Qualified Matching Employer Contributions may not be excluded in applying the “ACP” test for a Plan Year if the Employer elected Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
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		 		  		  	Contributions, or Option 1.12(a)(3), 401(k) Safe Harbor Formula, with respect to Nonelective Employer Contributions, and the “ADP” test is deemed satisfied under Section 6.09 of the Basic Plan Document
for such Plan Year.
			
		 	1.12	  	NONELECTIVE EMPLOYER CONTRIBUTIONS
			
		 		  	If (a) or (b) is elected below, the Employer may make Nonelective Employer Contributions on behalf of each of its “eligible” Participants in accordance with the provisions of this Section 1.12.
Except as otherwise defined in this Adoption Agreement pertaining to Nonelective Employer Contributions, for purposes of this Section 1.12, an “eligible” Participant means a Participant who is an Active Participant during the
Contribution Period and who satisfies the requirements of Subsection 1.12(d) or Section 1.13.
			
		 		  	Note: An Employer may elect both a fixed formula and a discretionary formula. If both are selected, the discretionary formula shall be treated as an additional Nonelective Employer Contribution and allocated
separately in accordance with the allocation formula selected by the Employer.
					
		 		  	(a)	  	x	  	Fixed Formula:
						
		 		  		  	(1)	  	x	  	Fixed Percentage Employer Contribution – For each Contribution Period, the Employer shall contribute for each “eligible” Participant a percentage of such “eligible” Participant’s
Compensation equal to):
						
		 		  		  		  	(A)	  	0.00% (not to exceed 25%) to all “eligible” Participants.
					
		 		  		  		  	Note: The allocation formula in Option 1.12(a)(1)(A) above generally satisfies a design-based safe harbor pursuant to the regulations under Code Section 401(a)(4).
						
		 		  		  	(2)	  	 ̈	  	Fixed Flat Dollar Employer Contribution – The Employer shall contribute for each “eligible” Participant an amount equal to:
						
		 		  		  		  	(A)	  	$                     to all “eligible” Participants. (Complete (i) below).
							
		 		  		  		  		  	(i)	  	The contribution amount is based on an “eligible” Participant’s service for the following period (check one of the following):
									
		 		  		  		  		  		  	(I)	  	 ̈	  	Each paid hour.
									
		 		  		  		  		  		  	(II)	  	 ̈	  	Each Plan Year.
									
		 		  		  		  		  		  	(III)	  	 ̈	  	Other:
                                        
(must be a period within the Plan Year that does not exceed one week and is uniform with respect to all “eligible” Participants).
					
		 		  		  		  	Note: The allocation formula in Option 1.12(a)(2)(A) above generally satisfies a design-based safe harbor pursuant to the regulations under Code Section 401(a)(4).
						
		 		  		  	(3)	  	 ̈	  	401(k) Safe Harbor Formula – The Nonelective Employer Contribution specified in the 401(k) Safe Harbor Nonelective Employer Contributions Addendum is intended to satisfy the safe harbor contribution
requirements under Sections 401(k) and 401(m) of the Code such that the “ADP” test (and, under certain circumstances, the “ACP” test) is deemed satisfied. Please complete the 401(k) Safe Harbor Nonelective Employer Contributions
Addendum to the Adoption Agreement. (Choose only if Option 1.07(a), Deferral Contributions, is checked.)
						
		 		  		  	(4)	  	x	  	See Additional Provisions Addendum.

  

					
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		 		  	(b)	  	x	  	Discretionary Formula – The Employer may decide each Contribution Period whether to make a discretionary Nonelective Employer Contribution on behalf of “eligible” Participants in accordance
with Section 5.10 of the Basic Plan Document.
						
		 		  		  	(1)	  	x	  	Non-Integrated Allocation Formula – In the ratio that each “eligible” Participant’s Compensation bears to the total Compensation paid to all “eligible” Participants for the
Contribution Period.
				
		 		  		  	Note: The allocation formula in Option 1.12(b)(1) above generally satisfies a design-based safe harbor pursuant to the regulations under Code Section 401(a)(4).
						
		 		  		  	(2)	  	 ̈	  	Integrated Allocation Formula – As (1) a percentage of each “eligible” Participant’s Compensation plus (2) a percentage of each “eligible” Participant’s Compensation in
excess of the “integration level” as defined below. The percentage of Compensation in excess of the “integration level” shall be equal to the lesser of the percentage of the “eligible” Participant’s Compensation
allocated under (1) above or the “permitted disparity limit” as defined below.
					
		 		  		  		  	Note: An Employer that has elected Option 1.12(a)(3), 401(k) Safe Harbor Formula, may not take Nonelective Employer Contributions made to satisfy the 401(k) safe harbor into account in applying the integrated
allocation formula described above.
						
		 		  		  		  	(A)	  	“Integration level” means the Social Security taxable wage base for the Plan Year, unless the Employer elects a lesser amount in (i) or (ii) below.
							
		 		  		  		  		  	(i)	  	                    % (not to exceed 100%) of the Social Security taxable wage base for the Plan
Year, or
							
		 		  		  		  		  	(ii)	  	$                     (not to exceed the Social Security taxable wage base).
						
		 		  		  		  		  	“Permitted disparity limit” means the percentage provided by the following table:

 

					
	 The “Integration Level” is        % of the Taxable Wage
Base
	  	The “Permitted
Disparity
Limit” is	 
	 20% or less
	  	 	5.7	% 
	 More than 20%, but not more than 80%
	  	 	4.3	% 
	 More than 80%, but less than 100%
	  	 	5.4	% 
	 100%
	  	 	5.7	% 

  

																					
					
		 		  		  		  	The Social Security taxable wage base is the contribution and benefit base in effect under Section 230 of the Social Security Act at the beginning of the Plan Year.
					
		 		  		  		  	Note: The allocation formula in Option 1.12(b)(2) above generally satisfies a design-based safe harbor pursuant to the regulations under Code Section 401(a)(4).
					
		 		  		  		  	Note: An Employer who maintains any other plan that provides for or imputes Social Security Integration (permitted disparity) may not elect Option 1.12(b)(2).
				
		 		  	(c)	  	Contribution Period for Nonelective Employer Contributions – The Contribution Period for purposes of calculating the amount of Nonelective Employer Contributions is the Plan Year, unless the
Employer elects

  

					
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		 		  		  	another Contribution Period below. Regardless of any selection made below, the Contribution Period for 401(k) Safe Harbor Nonelective Employer Contributions under Option 1.12(a)(3) or Nonelective Employer Contributions
allocated under an integrated formula selected under Option 1.12(b)(2) is the Plan Year.
						
		 		  		  	(1)	  	 ̈	  	each calendar month.
						
		 		  		  	(2)	  	 ̈	  	each Plan Year quarter.
						
		 		  		  	(3)	  	 ̈	  	each payroll period.
				
		 		  		  	Note: If Nonelective Employer Contributions are made more frequently than for the Contribution Period selected above, the Employer must calculate the Nonelective Employer Contribution required with respect to the
full Contribution Period, taking into account the “eligible” Participant’s Compensation for the full Contribution Period, and contribute any additional Nonelective Employer Contributions necessary to “true up” the
Nonelective Employer Contribution so that the full Nonelective Employer Contribution is made for the Contribution Period.
				
		 		  	(d)	  	Continuing Eligibility Requirement(s) – A Participant shall only be entitled to receive Nonelective Employer Contributions for a Plan Year under this Section 1.12 if the Participant is an
Active Participant during the Plan Year and satisfies the following requirement(s) (Check the appropriate box(es) – Options (3) and (4) may not be elected together; Option (5) may not be elected with Option (2), (3), or (4);
Options (2), (3), (4), (5), and (7) may not be elected with respect to Nonelective Employer Contributions under the fixed formula if Option 1.12(a)(3), 401(k) Safe Harbor Formula, is checked):
						
		 		  		  	(1)	  	x	  	No requirements.
						
		 		  		  	(2)	  	 ̈	  	Is employed by the Employer or a Related Employer on the last day of the Contribution Period.
						
		 		  		  	(3)	  	 ̈	  	Earns at least 501 Hours of Service during the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(4)	  	 ̈	  	Earns at least (not to exceed 1,000) Hours of Service during the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(5)	  	 ̈	  	Either earns at least 501 Hours of Service during the Plan Year or is employed by the Employer or a Related Employer on the last day of the Plan Year. (Only if the Contribution Period is the Plan Year.)
						
		 		  		  	(6)	  	 ̈	  	Is not a Highly Compensated Employee for the Plan Year.
						
		 		  		  	(7)	  	 ̈	  	Is not a partner or a member of the Employer, if the Employer is a partnership or an entity taxed as a partnership.
						
		 		  		  	(8)	  	x	  	Special continuing eligibility requirement(s) for discretionary Nonelective Employer Contributions. (Only if both Options 1.12(a) and (b) are checked.)
						
		 		  		  		  	(A)	  	The continuing eligibility requirement(s) for discretionary Nonelective Employer Contributions is/are: (2) (Fill in number of applicable eligibility requirement(s) from above,
including the number of Hours of Service if Option (4) has been selected.)
				
		 		  		  	Note: Except when added in conjunction with the addition of a new Nonelective Employer Contribution, if Option (2), (3), (4), or (5) is adopted during a Contribution Period, such Option shall not become
effective until the first day of the next Contribution Period. Nonelective Employer Contributions attributable to the Contribution Period that are funded during the Contribution Period shall not be subject to the eligibility requirements of Option
(2), (3), (4), or (5).

  

					
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		 	1.13	  	EXCEPTIONS TO CONTINUING ELIGIBILITY REQUIREMENTS
				
		 		  	x	  	Death, Disability, and Retirement Exceptions – All Participants who become disabled, as defined in Section 1.15, retire, as provided in Subsection 1.14(a), (b), or (c), or die are excepted from any
last day or Hours of Service requirement, except as modified in the Additional Provisions Addendum. For purposes of this Section, any Participant who dies while performing qualified military service as defined in Code Section 414(u)(5) will be
excepted from any last day or Hours of Service requirement.
			
		 	1.14	  	RETIREMENT
				
		 		  	(a)	  	The Normal Retirement Age under the Plan is (check one):
						
		 		  		  	(1)	  	x	  	age 65.
						
		 		  		  	(2)	  	 ̈	  	age                      (specify between 55 and 64).
						
		 		  		  	(3)	  	 ̈	  	later of age                      (not to exceed 65) or the
                     (not to exceed 5th) anniversary of the Participant’s Employment Commencement Date.
					
		 		  	(b)	  	 ̈	  	The Early Retirement Age is the date the Participant attains age                      and
completes                     years of Vesting Service.
				
		 		  		  	Note: If this Option is elected, Participants who are employed by the Employer or a Related Employer on the date they reach Early Retirement Age shall be 100% vested in their Accounts under the
Plan.
					
		 		  	(c)	  	x	  	A Participant who becomes disabled, as defined in Section 1.15, is eligible for disability retirement.
				
		 		  		  	Note: If this Option is elected, Participants who are employed by the Employer or a Related Employer on the date they become disabled shall be 100% vested in their Accounts under the Plan. Pursuant to
Section 11.03 of the Basic Plan Document, a Participant is not considered to be disabled until he terminates his employment with the Employer.
			
		 	1.15	  	DEFINITION OF DISABLED
			
		 		  	A Participant is disabled if he/she meets any of the requirements selected below:
					
		 		  	(a)	  	 ̈	  	The Participant satisfies the requirements for benefits under the Employer’s long-term disability plan.
					
		 		  	(b)	  	x	  	The Participant satisfies the requirements for Social Security disability benefits.
					
		 		  	(c)	  	x	  	The Participant is determined to be disabled by a physician approved by the Employer.
					
		 		  	(d)	  	x	  	See Additional Provisions Addendum.

  

					
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		 	1.16	  	VESTING
			
		 		  	A Participant’s vested interest in Matching Employer Contributions and/or Nonelective Employer Contributions, other than those described in Subsection 5.11(a) of the Basic Plan Document, shall be based upon his
years of Vesting Service and the schedule selected in Subsection 1.16(c) below, except as provided in the Vesting Schedule Addendum to the Adoption Agreement or as provided in Subsection 1.22(c).
				
		 		  	(a)	  	When years of Vesting Service are determined, the elapsed time method shall be used.
					
		 		  	(b)	  	 ̈	  	Years of Vesting Service shall exclude service prior to the Plan’s original Effective Date as listed in Subsection 1.01(g)(1) or Subsection 1.01(g)(2), as applicable.
				
		 		  	(c)	  	Vesting Schedule(s)

  

									
	 (1)    
	 	 NonelectiveEmployer Contributions (check one):
	 		 	 (2)    
	  	 MatchingEmployer Contributions (check one):

					
	 (A)   
	 	  ̈      N/A – No
Nonelective Employer Contributions
	 		 	 (A)   
	  	  ̈      N/A – No Matching
Employer Contributions

					
	 (B)   
	 	 x      100% Vesting
immediately
	 		 	 (B)   
	  	 x      100% Vesting
immediately

					
	 (C)   
	 	  ̈      3 year cliff (see
C below)
	 		 	 (C)   
	  	  ̈      3 year cliff (see
C below)

					
	 (D)   
	 	  ̈      6 year graduated (see
D below)
	 		 	 (D)   
	  	  ̈      6 year graduated (see
D below)

					
	 (E)   
	 	  ̈      Other vesting
(complete E1 below)
	 		 	 (E)   
	  	  ̈      Other vesting
(complete E2 below)

  

																	
	 Years of Vesting Service
	  	Applicable Vesting Schedule(s)	 
	 	  	C	 	 	D	 	 	E1	 	 	E2	 
	 0
	  	 	0	% 	 	 	0	% 	 	 	            	% 	 	 	            	% 
	 1
	  	 	0	% 	 	 	0	% 	 	 	            	% 	 	 	            	% 
	 2
	  	 	0	% 	 	 	20	% 	 	 	            	% 	 	 	            	% 
	 3
	  	 	100	% 	 	 	40	% 	 	 	            	% 	 	 	            	% 
	 4
	  	 	100	% 	 	 	60	% 	 	 	            	% 	 	 	            	% 
	 5
	  	 	100	% 	 	 	80	% 	 	 	            	% 	 	 	            	% 
	 6 or more
	  	 	100	% 	 	 	100	% 	 	 	            	% 	 	 	100	% 

  

																					
		 		  	Note: A schedule elected under E1 or E2 above must be at least as favorable as one of the schedules in C or D above. If the vesting schedule is amended, any such amendment must satisfy the requirements of
Section 16.04 of the Basic Plan Document
			
		 		  	Note: The amendment of the plan to add a Fixed Nonelective Employer Contribution, Discretionary Nonelective Employer Contribution, 401(k) Safe Harbor Nonelective Employer Contribution, Fixed Matching Employer
Contribution, Discretionary Matching Employer Contribution, Additional Matching Employer Contribution, or 401(k) Safe Harbor Matching Employer Contribution and an attendant vesting schedule does not constitute an

  

					
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		 		  	amendment to a vesting schedule under Section 16.04 of the Basic Plan Document, unless a contribution source of the same type exists under the Plan on the effective date of such amendment. Any amendment to the
vesting schedule of one such contribution source shall not require the amendment of the vesting schedule of any other such contribution source, notwithstanding the fact that one or more Participants may be subject to different vesting schedules for
such different contribution sources.
					
		 		  	(d)	  	x	  	A vesting schedule or schedules different from the vesting schedule(s) selected above applies to certain Participants. Please complete Section (a) of the Vesting Schedule Addendum to the Adoption Agreement.
					
		 		  	(e)	  	x	  	See Additional Provisions Addendum.
			
		 	1.17	  	PREDECESSOR EMPLOYER SERVICE
					
		 		  	(a)	  	x	  	Service for purposes of eligibility in Subsection 1.04(b) and vesting in Subsection 1.16 of this Plan shall include service with the following predecessor employer(s):
					
		 		  		  		  	Hepworth U.S. Holdings, Inc. or affiliates; Technisand, Inc or affiliates; United Western Supply Co. or affiliates; The Garick Corp.; Paygro and Stan Blast Abrasives, Inc.; Construction Aggregates; Standard Sand;
Great Plains
						
		 		  		  	(1)	  	x	  	See Additional Provisions Addendum.
			
		 	1.18	  	PARTICIPANT LOANS
					
		 		  	(a)	  	x	  	Participant loans are allowed in accordance with Article 9, except as modified in the Additional Provisions Addendum.
			
		 	1.19	  	IN-SERVICE WITHDRAWALS
			
		 		  	Participants may make withdrawals prior to termination of employment under the following circumstances:
					
		 		  	(a)	  	x	  	Hardship Withdrawals – Hardship withdrawals shall be allowed in accordance with Section 10.05 of the Basic Plan Document, subject to a $500.00 minimum amount.
					
		 		  		  	(1)	  	Hardship withdrawals will be permitted from:
							
		 		  		  		  	(A)	  	 ̈	  	A Participant’s Deferral Contributions Account only.
							
		 		  		  		  	(B)	  	x	  	The Accounts specified in the In-Service Withdrawals Addendum. Please complete Section (c) of the In-Service Withdrawals Addendum.
					
		 		  	(b)	  	x	  	Age 59 1/2 – Participants shall be entitled to receive a distribution of all or any portion of the following Accounts upon attainment of age 59 1/2:
						
		 		  		  	(1)	  	 ̈	  	Deferral Contributions Account.
						
		 		  		  	(2)	  	 ̈	  	All vested Account balances.
						
		 		  		  	(3)	  	x	  	See In-Service Withdrawals Addendum.

  

					
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		 		  	(c)	  	Withdrawal of Employee Contributions, Rollover Contributions and certain other contributions
					
		 		  		  	(1)	  	Unless otherwise provided below, Employee Contributions may be withdrawn in accordance with Section 10.02 of the Basic Plan Document at any time.
							
		 		  		  		  	(A)	  	 ̈	  	Employees may not make withdrawals of Employee Contributions more frequently than:
							
		 		  		  		  		  		  	                                    
                                         
                                         
              
					
		 		  		  	(2)	  	Rollover Contributions may be withdrawn in accordance with Section 10.03 of the Basic Plan Document at any time.
					
		 		  		  	(3)	  	Active Military Distribution (HEART Act) – Certain contributions restricted from distribution only due to Code Section 401(k)(2)(B)(i)(I) may be withdrawn by Participants performing military service
in accordance with Section 10.01 of the Basic Plan Document at any time.
					
		 		  	(d)	  	 ̈	  	Qualified Disaster Distribution – One or more Qualified Disaster Distributions shall be allowed in accordance with Section 10.08 of the Basic Plan Document. Please complete the In-Service Withdrawals
Addendum to the Adoption Agreement identifying each such Qualified Disaster Distribution.
					
		 		  	(e)	  	 ̈	  	Qualified Reservist Distribution – A Qualified Reservist Distribution shall be allowed in accordance with Section 10.09 of the Basic Plan Document.
					
		 		  	(f)	  	 ̈	  	Age 62 Distribution of Money Purchase Benefits – A Participant who has attained at least age 62, shall be entitled to receive a distribution of all or any portion of the vested amounts attributable to
benefit amounts accrued as a result of the Participant’s participation in a money purchase pension plan (due to a merger into this Plan of money purchase pension plan assets), if any. (Choose only if Option 1.20(d)(1)(B) is
selected.)
					
		 		  	(g)	  	x	  	Additional In-Service Withdrawal Provisions – Benefits are payable as (check the appropriate box(es)):
						
		 		  		  	(1)	  	 ̈	  	an in-service withdrawal of vested amounts attributable to Employer Contributions maintained in a Participant’s Account (check (A) and/or (B)):
							
		 		  		  		  	(A)	  	 ̈	  	for at least                      (24 or more) months.
								
		 		  		  		  		  	(i)	  	 ̈	  	Special restrictions apply to such in-service withdrawals, see the In-Service Withdrawals Addendum to the Adoption Agreement.
							
		 		  		  		  	(B)	  	 ̈	  	after the Participant has at least 60 months of participation.
								
		 		  		  		  		  	(i)	  	 ̈	  	Special restrictions apply to such in-service withdrawals, see the In-Service Withdrawals Addendum to the Adoption Agreement.
						
		 		  		  	(2)	  	x	  	another in-service withdrawal option that is permissible under the Code. Please complete the In-Service Withdrawals Addendum to the Adoption Agreement identifying the in-service withdrawal option(s).
			
		 		  	Note: Any withdrawal indicated in this Section may be a “protected benefit” under Code Section 411(d)(6) which can be eliminated only to the extent permitted by applicable
guidance.

  

					
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		 	1.20	  	FORM OF DISTRIBUTIONS
			
		 		  	Subject to Section 13.01, 13.02 and Article 14 of the Basic Plan Document, distributions under the Plan shall be paid as provided below.
				
		 		  	(a)	  	Lump Sum Payments – Lump sum payments are always available under the Plan and are the normal form of payment under the Plan except as modified in Subsection 1.20(d)(2) below.
					
		 		  	(b)	  	x	  	Installment Payments – Participants may elect distribution under a systematic withdrawal plan (installments).
					
		 		  	(c)	  	x	  	Partial Withdrawals – A Participant whose employment has terminated and whose Account is distributable in accordance with the provisions of Article 12 of the Basic Plan Document may elect to withdraw
any portion of his Distributable vested interest in his Account in cash at any time.
					
		 		  	(d)	  	 ̈	  	Annuities (Check if the Plan is retaining any annuity form(s) of payment.)
						
		 		  		  	(1)	  	 ̈	  	An annuity form of payment is available under the Plan because the Plan either converted from or received a transfer of assets from a plan that was subject to the minimum funding requirements of Code Section 412 and
therefore an annuity form of payment is a protected benefit under the Plan in accordance with Code Section 411(d)(6).
					
		 		  		  	(2)	  	The normal form of payment under the Plan is (check (A) or (B)):
							
		 		  		  		  	(A)	  	 ̈	  	Lump sum is the normal form of payment for:
								
		 		  		  		  		  	(i)	  	 ̈	  	All Participants
								
		 		  		  		  		  	(ii)	  	 ̈	  	All Participants except those as indicated on the Forms of Payment Addendum.
							
		 		  		  		  	(B)	  	 ̈	  	Life annuity is the normal form of payment for all Participants.
						
		 		  		  	(3)	  	 ̈	  	Life Annuity – The Plan offers at least one other form of annuity as specified in the Forms of Payment Addendum.
				
		 		  		  	Note: A life annuity option will continue to be an available form of payment for any Participant who elected such life annuity payment before the effective date of its elimination.
				
		 		  	(e)	  	Cash Outs and Implementation of Required Rollover Rule
						
		 		  		  	(1)	  	x	  	If the vested Account balance payable to an individual is less than or equal to the cash out limit utilized for such individual, such Account will be distributed in accordance with the provisions of Section 13.02 or
18.04 of the Basic Plan Document. The cash out limit is:
							
		 		  		  		  	(A)	  	x	  	$1,000.
							
		 		  		  		  	(B)	  	 ̈	  	The dollar amount specified in Code Section 411(a)(11)(A) ($5,000 as of January 1, 2013). Any distribution greater than $1,000 that is made to a Participant without the Participant’s consent before the
Participant’s Normal Retirement Age (or age 62, if later) will be rolled over to an individual retirement plan designated by the Plan Administrator.
					
		 		  	(f)	  	x	  	See Forms of Payment Addendum.

  

					
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		 	1.21	  	TIMING OF DISTRIBUTIONS
			
		 		  	Except as provided in Subsection 1.21(a) or (b), distribution shall be made to an eligible Participant from his vested interest in his Account as soon as reasonably practicable following the Participant’s request
for distribution pursuant to Article 12 of the Basic Plan Document.
				
		 		  	(a)	  	Distribution shall be made to an eligible Participant from his vested interest in his Account as soon as reasonably practicable following the date the Participant’s application for distribution is received
by the Administrator, but in no event later than his Required Beginning Date, as defined in Subsection 2.01(tt).
					
		 		  	(b)	  	 ̈	  	Preservation of Same Desk Rule – Check if the Employer wants to continue application of the same desk rule described in Subsection 12.01(b) of the Basic Plan Document regarding distribution of
Deferral Contributions, Qualified Nonelective Employer Contributions, Qualified Matching Employer Contributions, 401(k) Safe Harbor Matching Employer Contributions, and 401(k) Safe Harbor Nonelective Employer Contributions. (If any of the
above-listed contribution types were previously distributable upon severance from employment, this Option may not be selected.)
			
		 	1.22	  	TOP HEAVY STATUS
				
		 		  	(a)	  	The Plan shall be subject to the Top-Heavy Plan requirements of Article 15 (check one):
						
		 		  		  	(1)	  	 ̈	  	for each Plan Year, whether or not the Plan is a “top-heavy plan” as defined in Subsection 15.01(g) of the Basic Plan Document.
						
		 		  		  	(2)	  	x	  	for each Plan Year, if any, for which the Plan is a “top-heavy plan” as defined in Subsection 15.01(g) of the Basic Plan Document.
						
		 		  		  	(3)	  	 ̈	  	Not applicable. (Choose only if (A) Plan covers only employees subject to a collective bargaining agreement, or (B) Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(a)(3),
401(k) Safe Harbor Formula, is selected, and the Plan does not provide for Employee Contributions or any other type of Employer Contributions.)
				
		 		  	(b)	  	If the Plan is or is treated as a “top-heavy plan” for a Plan Year, each non-key Employee shall receive an Employer Contribution of at least 3% (3 or 5)% of Compensation for the Plan Year or such
other amount in accordance with Section 15.03 of the Basic Plan Document or as elected on the 416 Contributions Addendum. The minimum Employer Contribution provided in this Subsection 1.22(b) shall be made under this Plan only if the
Participant is not entitled to such contribution under another qualified plan of the Employer, unless the Employer elects otherwise below:
						
		 		  		  	(1)	  	 ̈	  	The minimum Employer Contribution shall be paid under this Plan in any event.
						
		 		  		  	(2)	  	 ̈	  	Another method of satisfying the requirements of Code Section 416. Please complete the 416 Contributions Addendum to the Adoption Agreement describing the way in which the minimum contribution requirements will be
satisfied in the event the Plan is or is treated as a “top-heavy plan”.
						
		 		  		  	(3)	  	 ̈	  	Not applicable. (Choose only if (A) Plan covers only employees subject to a collective bargaining agreement, or (B) Option 1.11(a)(3), 401(k) Safe Harbor Matching Employer Contributions, or Option 1.12(b)(3),
401(k) Safe Harbor Formula, is selected, and the Plan does not provide for Employee Contributions or any other type of Employer Contributions.)

  

					
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		 		  		  	Note: The minimum Employer Contribution may be less than the percentage indicated in Subsection 1.22(b) above to the extent provided in Section 15.03 of the Basic Plan Document.
				
		 		  	(c)	  	If the Plan is or is treated as a “top-heavy plan” for a Plan Year, the vesting schedule found in Subsection 1.16(c)(1) shall apply for such Plan Year and each Plan Year thereafter, except with
regard to Participants for whom there is a more favorable vesting schedule for Nonelective Employer Contributions. If the Employer has selected Option 1.01(b)(1) and the minimum Employer Contribution will not be immediately 100% vested, the Vesting
Schedule Addendum must contain the applicable vesting schedule.
			
		 	1.23	  	CORRECTION TO MEET 415 REQUIREMENTS UNDER MULTIPLE DEFINED CONTRIBUTION PLANS
				
		 		  	 ̈	  	Other Order for Limiting Annual Additions – If the Employer maintains other defined contribution plans, annual additions to a Participant’s Account shall be limited as provided in
Section 6.12 of the Basic Plan Document to meet the requirements of Code Section 415, unless the Employer elects this Option and completes the 415 Correction Addendum describing the order in which annual additions shall be limited among
the plans.
			
		 	1.24	  	INVESTMENT DIRECTION
			
		 		  	Subject to Section 8.03 of the Basic Plan Document, Participant Accounts shall be invested (check one):
					
		 		  	(a)	  	 ̈	  	in accordance with the investment directions provided to the Trustee by the Employer for allocating all Participant Accounts among the Permissible Investments.
					
		 		  	 (b)
	  	x	  	in accordance with the investment directions provided to the Trustee by each Participant for allocating his entire Account among the Permissible Investments.
					
		 		  	(c)	  	 ̈	  	in accordance with the investment directions provided to the Trustee by each Participant for all contribution sources in his Account, except that the following sources shall be invested in accordance with the investment
directions provided by the Employer (check (1) and/or (2)):
						
		 		  		  	(1)	  	 ̈	  	Nonelective Employer Contributions
						
		 		  		  	(2)	  	 ̈	  	Matching Employer Contributions
			
		 		  	Note: The Employer must direct the applicable sources among the Permissible Investments.
			
		 	1.25	  	ADDITIONAL PROVISIONS AND PROTECTED BENEFITS
					
		 		  	(a)	  	x	  	Additional Provisions – The Plan includes certain provisions that are not delineated through the above elections in this Adoption Agreement, but are incorporated into Fidelity Basic Plan
Document 17 and are described within the Additional Provisions Addendum. The provisions included within the Additional Provisions Addendum supplement and/or alter the provisions of this Adoption Agreement and/or the Basic Plan Document.
					
		 		  	(b)	  	x	  	Protected Benefit Provisions – The Plan includes provisions that are “protected benefits” under Code Section 411(d)(6) and are not delineated through the above elections in this
Adoption Agreement, but are described within the Protected Benefit Provisions Addendum.

  

					
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		 	1.26	  	SUPERSEDING PROVISIONS
					
		 		  	(a)	  	x	  	The Employer has completed the Plan Superseding Provisions Addendum to show the provisions of the Plan which supersede provisions of this Adoption Agreement and/or the Basic Plan Document.
					
		 		  		  		  	Note: If the Employer elects superseding provisions in Option (a) above, the Employer may not be permitted to rely on the Volume Submitter Sponsor’s advisory letter for qualification of its Plan. In
addition, such superseding provisions may in certain circumstances affect the Plan’s status as a pre-approved volume submitter plan eligible for the 6-year remedial amendment cycle.
					
		 		  	(b)	  	 ̈	  	The Employer has completed the Trust Superseding Provisions Addendum to show the provisions of the Plan which supersede provisions of the Trust Agreement in the Basic Plan Document.
			
		 	1.27	  	RELIANCE ON ADVISORY LETTER
			
		 		  	An adopting Employer may rely on an advisory letter issued by the Internal Revenue Service as evidence that this Plan is qualified under Code Section 401 only to the extent provided in Section 19.02 of Revenue
Procedure 2011-49. The Employer may not rely on the advisory letter in certain other circumstances or with respect to certain qualification requirements, which are specified in the advisory letter issued with respect to this Plan and in
Section 19.03 of Revenue Procedure 2011-49. In order to have reliance in such circumstances or with respect to such qualification requirements, application for a determination letter must be made to Employee Plans Determinations of the Internal
Revenue Service.
			
		 		  	Failure to properly complete the Adoption Agreement and failure to operate the Plan in accordance with the terms of the Plan document may result in disqualification of the Plan.
			
		 		  	This Adoption Agreement may be used only in conjunction with Fidelity Basic Plan Document No. 17. The Volume Submitter Sponsor shall inform the adopting Employer of any amendments made to the Plan or of the
discontinuance or abandonment of the volume submitter plan document.
			
		 	1.28	  	ELECTRONIC SIGNATURE AND RECORDS
			
		 		  	This Adoption Agreement, and any amendment thereto, may be executed or affirmed by an electronic signature or electronic record permitted under applicable law or regulation, provided the type or method of electronic
signature or electronic record is acceptable to the Trustee.
			
		 	1.29	  	VOLUME SUBMITTER INFORMATION:

  

					
	Name of Volume Submitter Sponsor:	  	Fidelity Management & Research Company	  	
	Address of Volume Submitter Sponsor:	  	82 Devonshire Street	  	
		  	Boston, MA 02109	  	

  

					
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 EXECUTION PAGE 

Plan Name        Fairmount Santrol Retirement Savings Plan (the “Plan”) 

Employer:        Fairmount Santrol, Inc.  

The Fidelity Basic Plan Document No. 17 and the accompanying Adoption Agreement together comprise the Volume Submitter Defined Contribution Plan. It is
the responsibility of the adopting Employer to review this volume submitter plan document with its legal counsel to ensure that the volume submitter plan is suitable for the Employer and that Adoption Agreement has been properly completed prior to
signing. 
 IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be executed this      day of
                    ,             . 

 

			
	Employer:	  	Fairmount Santrol, Inc.

			
		
	By:	  	  

		
	Title:	  	  

 Note: Only one authorized signature is required to execute this Adoption Agreement unless the Employer’s corporate
policy mandates two authorized signatures. 
  

			
	Employer:	  	Fairmount Santrol, Inc.

			
		
	By:	  	  

		
	Title:	  	  

 

							
	 Accepted by:
	  	Fidelity Management Trust Company, as Trustee	 		 	

							
				
	 By:
	  	  
	 	Date:	 	  

				
	 Title:
	  	  
	 		 	

  

					
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 PLAN MERGERS ADDENDUM 

for 
 Plan
Name:  Fairmount Santrol Retirement Savings Plan 
  

	(a)	Plan Mergers - The following plan(s) were merged into the Plan on or after the Effective Date indicated in Subsection 1.01(g)(1) or (2), as applicable (the “merged-in plan(s)”). The
provisions of the Plan are effective with respect to the merged-in plan(s) as of the date(s) indicated below: 

  

	 	(1)	Name of merged-in plan: Fairmount Minerals, Ltd. Stock Bonus Trust and Plan  

Effective date: 01/01/2015  
  

							
	(A)	  	x     The above effective date shall be an Entry Date for all Eligible Employees who were employees of the employer who maintained the merged-in plan
immediately prior to the merger who (check one):
				
		  	(i)	 	x	  	have met the age and service requirements of the merged-in plan.
				
		  	(ii)	 	 ̈	  	have met the age and service requirements of this Plan.

  

					
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 PARTICIPATING EMPLOYERS ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
 Note: All participating employers must be a business entity of a type recognized under Treasury Regulation Section 301.7701-2(a). 
  

					
	(a)	  	x	  	Only the following Related Employers (as defined in Subsection 2.01(ss) of the Basic Plan Document) participate in the Plan (list each participating Related Employer and its Employer Tax Identification Number):
			
		  		  	Wedron Silica Company, 34-1440203
			
		  		  	Best Sand Corporation, 34-0097535
			
		  		  	Technisand, Inc., 34-1684239
			
		  		  	Wexford Sand Co., 38-2096445
			
		  		  	Wisconsin Industrial Sand Company, LLC, 31-1502704
			
		  		  	Construction Aggregates of Michigan, Inc., 59-2248904
			
		  		  	Mineral Visions, Inc., 20-2479524
			
		  		  	Fairmount Minerals Water Solutions, LLC, 27-1194235
			
		  		  	Alpha Resin, LLC, 45-1587503
			
		  		  	Black Lab, LLC, 45-2379715
			
		  		  	FML Sand, LLC, 46-3258925
			
		  		  	FML Terminal Logistics, LLC, 46-3262529
			
		  		  	Self-Suspending Proppants, LLC, 46-2684583
			
		  		  	 Shakopee Sand LLC 27-4480537

			
		  		  	 FML Resin, LLC 46-326259

  

					
	(b)	  	 ̈	  	All Related Employer(s) as defined in Subsection 2.01(ss) of the Basic Plan Document participate in the Plan.

  

					
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 IN-SERVICE WITHDRAWALS ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
  

	(a)	Sources Available for In-Service Hardship Withdrawal - In-service hardship withdrawals are permitted from the sub-accounts specified below, subject to the conditions applicable to hardship
withdrawals under Section 10.05 of the Basic Plan Document: 

 Deferral Contributions and vested amounts from the
following sub-accounts: 
 Profit Sharing 

Match 
 Prior Stock
Bonus 
  

	(b)	Other In-Service Withdrawal Provisions - In-service withdrawals from a Participant’s Accounts specified below shall be available to Participants who satisfy the requirements also
specified below: 

 Participants shall be entitled to receive a distribution prior to termination of employment upon
attainment of age 59 1/2 of all or any portion of all vested Account balances with the exception of the Prior Stock Bonus source. 
  

	 	(1)	The following restrictions apply to a Participant’s Account following an in-service withdrawal made pursuant to (b) above (cannot include any mandatory suspension of contributions restriction):

 Prior Stock Bonus Account excluded from 59 1/2 in-service withdrawal 

  

					
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 PROTECTED BENEFIT PROVISIONS ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
 Protected Benefit Provisions - The following benefits are retained under the Plan due to the nature of
each as a “protected benefit” under Code Section 411(d)(6) and apply for the Participants and Beneficiaries described: 

100% vesting upon involuntary separation from service due to restructuring (merged Stock Bonus Plan feature). 

  

					
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 FORMS OF PAYMENT ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
  

	(a)	In-Kind Distribution of Employer Stock. To the extent that a Participant’s Account is invested in Employer Stock, as defined in Section 20.12 of the Basic Plan Document, a Participant may
elect to receive distribution of his Account under the lump sum payment method in shares of Employer Stock instead of in cash. 

  

	(b)	Other Non-Annuity Form(s) of Payment. The Plan will continue to offer these form(s) of payment: 

Other Non-Annuity: In-Kind distribution of mutual fund shares or other property. 

  

					
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 VESTING SCHEDULE ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
  

	(a)	Different Vesting Schedule 

 Note: With regard
to contributions for plan years beginning after December 31, 2006, any schedule provided hereunder must be at least as favorable as one of the schedules in C or D in the table shown in Section 1.16(c). 

 

	 	(1)	A vesting schedule different from the vesting schedule selected in Section 1.16 applies to the Participants and contributions described below. 

 

	 	(A)	The following vesting schedule applies to the class of Participants described in (a)(1)(B) and the contributions described in (a)(1)(C) below: 

 

					
	 Years of Vesting Service
	  	Vested Interest	 
	0	  	 	0	  
	1	  	 	0	  
	2	  	 	0	  
	3	  	 	100	  

  

	 	(B)	The vesting schedule specified in (a)(1)(A) above applies to the following class of Participants: 

Plan Participants who have completed at least one Hour of Service on and after 1/1/2007 with amounts transferred from the FML Stock Bonus
Plan. 
  

	 	(C)	The vesting schedule specified in (a)(1)(A) above applies to the following contributions: 

Prior Stock Bonus. 

  

					
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 ADDITIONAL PROVISIONS ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
 (a) Additional Provision(s) – The following provisions supplement and/or, to the degree
described herein, supersede other provisions of this Adoption Agreement and the Basic Plan Document in the following manner: 
  

	(1)	The following replaces Subsection 1.04(c) and supersedes Subsection 2.01(p): 

  

	 	(a)	Eligibility Computation Period - The Eligibility Computation Period is the 12-consecutive-month period beginning on an Employee’s Employment Commencement Date and each Plan Year
beginning on or after his Employment Commencement Date. 

  

	(2)	The following replaces Subsection 1.05(a): 

  

	(a)	Compensation Exclusions - Compensation shall exclude the item(s) selected below for the indicated types of contributions. 

 

																			
	 	  	(1) Deferral
Contributions, Employee
Contributions, Qualified
Nonelective Employer
Contributions, 401(k)
Safe Harbor Matching
Employer Contributions	 	  	(2) Nonelective
Employer
Contributions -
other than 401(k)
Safe Harbor
Nonelective
Employer
Contributions	 	  	(3) Matching
Employer
Contributions -
other than 401(k)
Safe Harbor
Matching Employer
Contributions	 	  	(4) 401(k) Safe
Harbor
Nonelective
Employer
Contributions	 	  	 
						
	(A)	  				  				  				  	 	X	  	  	N/A – not applicable – type of contribution(s) not selected or no exclusions
						
	(B)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Reimbursements or other expense allowances
						
	(C)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Fringe benefits (cash and non-cash)
						
	(D)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Moving expenses
						
	(E)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Deferred compensation
						
	(F)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Welfare benefits
						
	(G)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Unused leave as described in Section 2.01(k)(2)
						
	(H)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Differential Wages
						
	(I)	  				  				  				  				  	Overtime pay
						
	(J)	  				  				  				  				  	Bonuses
						
	(K)	  				  				  				  				  	Commissions
						
	(L)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	The value of restricted stock or of a qualified or a non-qualified stock option granted to an Employee by the Employer to the extent such value is includable in the Employee’s taxable income.
						
	(M)	  	 	X	  	  	 	X	  	  	 	X	  	  				  	Severance pay received prior to termination of employment - Severance pay received following termination of employment is always excluded for purposes of
contributions.

  

					
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	(N)	  	 	X	  	  	 	X	  	  	 	X	  	  		  	Such other items as are identified in Section 1.05(a)(5) below.

  

	 	(5)	The following other items are excluded for the types of contributions indicated: 

  

	 	(A)	Compensation for Deferral Contributions, Employee Contributions, Qualified Nonelective Employer Contributions, and 401(k) Safe Harbor Matching Employer Contributions. The following items are
excluded from Compensation for purposes of determining Deferral Contributions, Employee Contributions, Qualified Nonelective Employer Contributions, and 401(k) Safe Harbor Matching Employer Contributions (Complete if Subsection 1.05(a)(1)(N) is
selected and list separately any items excluded from Compensation only for a particular group of employees and provide a description of that group: 

FAVR auto allowance compensation pursuant to Rev. Proc. 2004-64; Compensation from premiums paid by the Employer for Individual Life and
Long Term Disability policies over and above the group life insurance provided to all employees. 
 Note: If the Employer has
selected Safe Harbor Matching Employer Contributions, any exclusion listed above must be a permitted exclusion under Section 1.414(s)-1(d)(2) of the Treasury Regulations. In addition, a Participant must be permitted to make Deferral
Contributions under the Plan sufficient to receive the full 401(k) Safe Harbor Matching Employer Contribution, determined as a percentage of Compensation meeting the requirements of Code Section 414(s). 

 

	 	(B)	Compensation for Nonelective Employer Contributions (other than 401(k) Safe Harbor Nonelective Employer Contributions). The following items are excluded from Compensation for purposes of allocating
Nonelective Employer Contributions other than 401(k) Safe Harbor Nonelective Employer Contributions and Nonelective Employer Contributions that are allocated under the Integrated Formula, if elected in Subsection 1.12(a)(4) and/or 1.12(b)(2)
(Complete if Subsection 1.05(a)(2)(N) is selected and list separately any items excluded from Compensation only for a particular group of employees and provide a description of that group): 

FAVR auto allowance compensation pursuant to Rev. Proc. 2004-64; Compensation from premiums paid by the Employer for Individual Life and
Long Term Disability policies over and above the group life insurance provided to all employees. Bonuses, solely for Fixed Percentage Employer Contributions applicable employees of the Employer covered by the to the Wedron Silica Company employees
covered by collective bargaining agreement. 

  

					
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	 	(C)	Compensation for Matching Employer Contributions (other than 401(k) Safe Harbor Matching Employer Contributions). The following items are excluded from Compensation for purposes of allocating
Matching Employer Contributions other than 401(k) Safe Harbor Matching Employer Contributions (Complete if Subsection 1.05(a)(3)(N) is selected and list separately any items excluded from Compensation only for a particular group of
employees and provide a description of that group): 

 FAVR auto allowance compensation pursuant to Rev. Proc.
2004-64; Compensation from premiums paid by the Employer for Individual Life and Long Term Disability policies over and above the group life insurance provided to all employees. 

 

	 	(D)	Compensation for 401(k) Safe Harbor Nonelective Employer Contributions. The following items are excluded from Compensation for purposes of allocating 401(k) Safe Harbor Nonelective Employer
Contributions (Complete if Subsection 1.05(a)(4)(N) is selected and list separately any items excluded from Compensation only for a particular group of employees and provide a description of that group): 

 

							
		 		 	  

 Note: Any exclusion listed above must be a permitted exclusion under Section 1.414(s)-1(d)(2) of
the Treasury Regulations. In addition, the definition of Compensation must be tested to show that it meets the requirements of Code Section 414(s). 

Note: The Participant group(s) identified above must be clearly defined in a manner that will not violate the definite predetermined
allocation formula requirement of Treasury Regulation Section 1.401-1(b)(1)(ii). 
 Note: If the Employer selects Option (I),
(J), (K), (L), (M), or (N) with respect to Nonelective Employer Contributions, Compensation must be tested to show that it meets the requirements of Code Section 414(s) or the allocations must be tested to show that they meet the general
test under regulations issued under Code Section 401(a)(4). If the Employer selects Option (I), (J), (K), (L), (M), or (N) with respect to 401(k) Safe Harbor Nonelective Employer Contributions, Compensation must be tested to show that it
meets the requirements of Code Section 414(s). If the Employer selects Option (I), (J), (K), (L), (M), or (N) with respect to Deferral Contributions and Safe Harbor Matching Employer Contributions, a Participant must be permitted to make
Deferral Contributions under the Plan sufficient to receive the full 401(k) Safe Harbor Matching Employer Contribution, determined as a percentage of Compensation meeting the requirements of Code Section 414(s). If the Employer selects Option
(I), (J), (K), (L), (M), or (N) with respect to Matching Employer Contributions (other than 401(k) Safe Harbor Matching Employer Contributions), Compensation for purposes of applying the limitations on Matching Employer Contributions described
in Section 6.10 of the Basic Plan Document (for deemed satisfaction of the “ACP” test) must be tested to show that it meets the requirements of Code Section 414(s). 

 

	(3)	The following shall be added as Section 1.07(b): 

  

	 	(b)	Additional Automatic Enrollment Provisions – Automatic enrollment made in accordance with Section 5.03(c) of the Basic Plan Document is subject to the following: 

 

	 	(1)	An initial pre-tax Deferral Contribution of 3.00% will be made for: 

  

	 	(A)	Newly-eligible Employees 30 days after such Employee’s date of hire, but no sooner than such Employee’s Entry Date. 

 

	 	(B)	Each Eligible Employee having a Reemployment Commencement Date will be treated as follows for purposes of the above-described automatic enrollment contributions: 

 

	 	(i)	Shall be automatically enrolled later of 30 days from date of rehire or Entry Date. 

  

					
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 Note: If the Employer has elected a QACA in Option 1.07(a)(6)(D), then after the
effective date of this election, any Participant automatically enrolled pursuant to this subparagraph (C) who was automatically enrolled under the QACA at the time of leaving employment shall be automatically enrolled at the same rate in effect
immediately prior to his leaving employment plus any increases missed in accordance with paragraph (2) below (if applicable) prior to his Reemployment. 
  

	 	(2)	Those Participants with a deferral rate greater than zero (who are not suspended from making Deferral Contributions) will have that deferral increased annually by 1% (not to exceed 3%) as a pre-tax
Deferral Contribution until a deferral rate of 5.00% is reached with the following additional parameters: 

  

	 	(A)	Applies only to those: 

  

	 	(i)	Participants who are still automatically enrolled under paragraph (1) above. 

  

	 	(B)	Each applicable increase shall occur: 

  

	 	(i)	For Participants who are described within subparagraph (2)(A)(i) above: 

  

	 	(I)	Each year on 01/02, except with regard to the first such annual increase which shall not apply to a Participant within the first six months following the date such Participant was automatically enrolled
pursuant to paragraph (1) above. 

  

	(4)	The following replaces Subsection 1.12(a): 

  

	 	(a)	Fixed Formula: 

  

	 	(1)	Fixed Percentage Employer Contribution - For each Contribution Period, the Employer shall contribute for each “eligible” Participant (except as otherwise provided in (A)(i) below) a percentage of
such “eligible” Participant’s Compensation equal to: 

  

	 	(A)	0.00% (not to exceed 25%) to all “eligible” Participants, except as provided in (i) below. 

Note: The eligible group(s) defined below must be definitely determinable and cannot be subject to the discretion of the Employer. In
addition, the design of the classifications cannot be such that the only Non-Highly Compensated Employees benefiting under the Plan are those with the lowest compensation and/or the shortest periods of service and who may represent the minimum
number of such employees necessary to satisfy coverage under Code Section 410(b). 
  

	 	(i)	Different percentages for different groups of “eligible” Participants as follows: 

  

	 	(I)	For each Plan Year, the Employer shall contribute for the following “eligible” Participant(s) an amount equal to 5.00% (not to exceed 25%) of each such “eligible” Participant’s
Compensation: 

 Employees of the Employer covered by the collective bargaining agreement of the Wedron Silica Company.

  

	 	(II)	For each Plan Year, the Employer shall contribute for the following “eligible” Participant(s) an amount equal to 0.00% (not to exceed 25%) of each such “eligible” Participant’s
Compensation: 

 Employees of the Employer that are not covered by the collective bargaining agreement of the Wedron Silica
Company. 
  

	 	(ii)	 To the extent the allocation formula does not apply to all Participants under the Plan, the Employer may be required to restructure the Plan, as
permitted by the regulations under Code Section 401(a)(4), to satisfy the nondiscriminatory 

  

					
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benefits requirement of that Code Section. If the Plan can be restructured to satisfy the nondiscriminatory benefits requirements, then the Plan will generally satisfy a design-based safe harbor
pursuant to the regulations under Code Section 401(a)(4). If the Plan cannot be restructured to satisfy the nondiscriminatory benefits requirements, the Plan shall be required to satisfy the nondiscriminatory amount requirement by testing in
accordance with Section 1.401(a)(4)-2(a) of the Treasury Regulations. If the Plan is required to pass cross-testing in accordance with Section 1.401(a)(4)-8 of the Treasury Regulations to satisfy the nondiscriminatory amount requirement
and the Plan does not meet the exception found in Section 1.401(a)(4)-8(b)(1)(i)(B)(1) or (2), the Plan shall provide a gateway contribution to Participants required to benefit under this allocation to the extent described in
Section 1.401(a)(4)-8(b)(1)(vi). All Participants not included in an allocation group above shall be considered as not benefiting under this allocation for the Contribution Period unless otherwise is required to pass the nondiscriminatory
amount testing pursuant to Section 1.401(a)(4)-8 of the Treasury Regulations. The Employer shall notify the Plan Administrator of the amount allocable to each group. 

 

	(5)	The following replaces Section 1.13(a): 

  

	 	(b)	Exceptions to Continuing Eligibility Requirements - Participants who do not meet certain requirements under Subsection 1.11(e) or 1.12(d) for the following reason(s) shall nevertheless receive an
allocation of Nonelective Employer and/or Matching Employer Contributions: 

  

	 	(1)	Participants who become disabled, as defined in Section 1.15. 

  

	 	(2)	Participants who die. 

  

	(6)	In addition to any other options selected in Subsection 1.15, the following applies: 

  

	 	(e)	The following requirements in effect under the Plan prior to its conversion to a Fidelity Basic Plan Document No. 17 Adoption Agreement apply to Participants as described: 

Any disability which continuously disables and wholly prevents a Participant from performing duties of his occupation and expected to be of
permanent duration (excluding (a) engaged in criminal act or enterprise or (b) resulted from habitual drunkenness or addiction to narcotics or (c) from self-inflicted injury. 

 

	(7)	The following replaces Subsection 1.16(a): 

  

	 	(a)	Years of Vesting Service shall be determined: 

  

	 	(1)	using the Hours of Service crediting method. (The Employee must complete at least 1000 (not to exceed 1,000) Hours of Service in a Vesting Computation Period to be credited with a year of Vesting
Service.) 

  

	 	(A)	The Vesting Computation Period is: 

 the Plan Year. 

 

	(8)	The following is added at the end of Section 1.16 as a new Subsection 1.16(f) and supersedes Section 11.09 to the extent required: 

 

	 	(f)	Application of Forfeitures - If a Participant forfeits any portion of his non-vested Account balance, any portion of such forfeitures not used to pay Plan administrative expenses in
accordance with Section 11.09 of the Basic Plan Document shall be applied to reduce Employer Contributions, except as specified below: 

  

	 	(1)	All forfeitures shall be allocated among the Accounts of eligible Participants otherwise eligible to receive an allocation of Nonelective Employer Contributions pursuant to Section 1.12 in the manner described in
Section 5.10(b)(1) of the Basic Plan Document (regardless of whether the Employer has selected Option 1.12(b)(1) or either has been modified by this Addendum). 

  

					
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	(9)	The following replaces Subsection 1.17(a): 

  

	 	(a)	For the following purposes, the following entities shall be treated as predecessor employers: 

 

	 	(1)	Eligibility Service, as described in Subsection 1.04(b), shall include service with the following predecessor employer(s): 

Hepworth U.S. Holdings, Inc. or affiliates; Technisand, Inc or affiliates; United Western Supply Co. or affiliates; The Garick Corp.;
Paygro and Stan Blast Abrasives, Inc.; Construction Aggregates; Standard Sand; Great Plains 
  

	 	(2)	Vesting Service, as described in Subsection 1.16(a), shall include service with the following predecessor employer(s): 

Hepworth U.S. Holdings, Inc. or affiliates; Technisand, Inc or affiliates; United Western Supply Co. or affiliates; The Garick Corp.;
Paygro and Stan Blast Abrasives, Inc.; Construction Aggregates; Standard Sand; Great Plains; Alpha Resin, Inc.; Black Lab Corporation; Great Plains 
  

	(10)	The following is added at the end of Subsection 1.18(a) as a new Subsection 1.18(a)(1) and supersedes Article 9 to the extent required: 

 

	 	(1)	Loan not Due on Termination. If a Participant with an outstanding loan balance terminates employment with the Employer and all Related Employers, the outstanding principal and accrued interest on such loan shall
not be immediately due and payable as provided in Section 9.11 of the Basic Plan Document. Instead, such loan shall continue to be payable in accordance with the provisions of the loan note and Article 9 of the Basic Plan Document.

  

	(11)	The following replaces Subsection 2.01(h): 

  

	 	(h)	“Break in Vesting Service” means a Vesting Computation Period in which the Employee does not complete more than 1/2 the Hours of Service specified in Subsection 1.16(a)(1) through the Additional
Provisions Addendum to the Adoption Agreement. Notwithstanding any other provision of the Plan to the contrary, the following special rules shall apply solely for purposes of determining whether a person who is on leave has incurred a Break in
Vesting Service: 

  

	 	(1)	If an individual is absent from work because of “maternity/paternity leave”, he shall be credited with the Hours of Service with which he would otherwise be credited during such absence or, in any case
in which such number of Hours of Service cannot be determined, eight Hours of Service per day, up to a maximum of the number of Hours of Service required to prevent a Break in Service. Such Hours of Service shall be credited to the Vesting
Computation Period in which the person’s absence begins if necessary to prevent a Break in Vesting Service in such Vesting Computation Period or, in all other cases, to the Vesting Computation Period following the Vesting Computation Period in
which his absence began. For purposes of this paragraph, “maternity/paternity leave” means a leave of absence (i) by reason of the pregnancy of the individual, (ii) by reason of the birth of a child of the individual,
(iii) by reason of the placement of a child with the individual in connection with the adoption of such child by the individual, or (iv) for purposes of caring for a child for the period beginning immediately following such birth or
placement. 

  

	 	(2)	 If an individual is absent from work because of “FMLA leave”, and returns to employment with the Employer or a Related Employer
following such FMLA leave, he shall be credited with the 

  

					
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Hours of Service with which he would otherwise be credited during such absence or, in any case in which such number of Hours of Service cannot be determined, eight Hours of Service per day, for
each Vesting Computation Period during which he is absent because of FMLA leave, as necessary to prevent a Break in Vesting Service. For purposes of this paragraph, “FMLA leave” means an approved leave of absence pursuant to the Family and
Medical Leave Act of 1993. 

  

	(12)	The following modifies Subsection 2.01(cc): 

 Notwithstanding any other provision
of Subsection 2.01(cc), as provided in Subsection 1.16(a)(1)(A) through the Additional Provisions Addendum, if the Employer does not maintain records that accurately reflect the actual Hours of Service to be credited to an Employee, Hours of Service
shall be credited in accordance with the equivalency set forth therein. 
  

	(13)	The following replaces Section 3.03: 

 3.03. Crediting of Vesting
Service. 
 If the Plan provides for Matching Employer and/or Nonelective Employer Contributions that are not 100 percent vested when
made, subject to any exclusions elected by the Employer through the Additional Provisions Addendum in Subsection 1.16, an Employee shall be credited with a year of Vesting Service for each 12-consecutive-month period specified by the Employer in
Subsection 1.16(a)(1)(B) (the “Vesting Computation Period”) during which the Employee has been credited with the number of Hours of Service specified in Subsection 1.16(a)(1). 

  

					
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 PLAN SUPERSEDING PROVISIONS ADDENDUM 

for 
 Plan Name: Fairmount
Santrol Retirement Savings Plan 
  

	(A)	Superseding Provision(s) – The following provisions supersede other provisions of this Adoption Agreement and/or the Basic Plan Document (other than Article 20 thereof) in the manner described:

 1. Placeholder as needed for modification, if any, to other plan provisions in coordination with Fairmount Santrol counsel.

  

					
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 Volume Submitter Defined Contribution Plan 

ADDENDUM TO ADOPTION AGREEMENT 

FIDELITY BASIC PLAN DOCUMENT No. 17 

RE: American Taxpayer Relief Act of 2012 
  

																					
		
		 	Plan Name: Fairmount Santrol Retirement Savings Plan
		
		 	Fidelity 5-digit Plan Number: 09626
		
		 	PREAMBLE
		
		 	Adoption and Effective Date of Amendment. This amendment of the Plan is adopted to reflect certain provisions of the American Taxpayer Relief Act of 2012 (“ATRA”). This amendment is intended as
good faith compliance with the ATRA and is to be construed in accordance with applicable guidance. This amendment shall be effective with respect to Fidelity’s Volume Submitter plan as provided below.
		
		 	Supersession of Inconsistent Provisions. This amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this amendment.
				
		 	(a)	  	x	  	In-Plan Roth Conversions. In accordance with Article 5 of the Basic Plan Document and as may be limited in (2) below, any Participant who is still employed by the Employer may elect to have any part of the
below-listed portions of his Account, which is fully vested, not part of an outstanding loan balance pursuant to Article 9 of the Basic Plan Document, not currently distributable and not “designated Roth contributions” under the Plan, be
considered “designated Roth contributions” for purposes of the Plan. This subsection (a) shall be effective to permit such conversions on and after the following effective date:   01/01/2015   (can be no earlier
than January 1, 2013).
				
		 		  	(1)	  	The following sub-accounts are available to be converted:
                                .
					
		 		  	(2)	  	 ̈	  	A Participant may not make an In-Plan Roth Conversion more frequently than:
                .

Amendment Execution 
  

													
		 	IN WITNESS WHEREOF, the Employer has caused this Amendment to be executed this      day of
                    ,             .
				
		 	Employer:   Fairmount Santrol, Inc.	 	Employer:   Fairmount Santrol, Inc.	 	
							
		 	By:	 	  
	 		 	By:	 	  
	 	
							
		 	Title:	 	  
	 		 	Title:	 	  
	 	
		
		 	Note: Only one authorized signature is required to execute this Adoption Agreement unless the Employer’s corporate policy mandates two authorized signatures.
		
		 	Accepted by: Fidelity Management Trust Company, as Trustee
							
		 	By:	 	  
	 		 	Date:	 	  
	 	

  

					
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 EFFECTIVE DATES FOR INTERIM LEGAL COMPLIANCE SNAP OFF ADDENDUM 

for 
  

																					
		
		 	Plan Name: Fairmount Santrol Retirement Savings Plan
		
		 	Notwithstanding any other provision of the Plan to the contrary, to comply with changes required by the final Treasury regulations under Code Section 401(k) and 415 (“final 415 Regulations”), the
Katrina Emergency Tax Relief Act (“KETRA”), the Gulf Opportunity Zone Act of 2005 (“GOZA”), the Pension Protection Act of 2006 (“PPA”), Heroes Earnings Assistance and Relief Act of 2008 (“HEART”), the Worker,
Retiree and Employee Recovery Act of 2008 (“WRERA”), Proposed Treasury regulations under Code Section 401(k) & (m) (“proposed 401(k)&(m) Regulations”), Emergency Economic Stabilization Act of 2008
(“EESA”), and Small Business Jobs Act of 2010 (“SBJA”), except to the extent provided otherwise in (g) and/or (h) below, the following provisions shall apply effective as of the dates set forth below:
			
		 	(a)	  	415 Compliance – Effective for Plan Years and Limitation Years beginning on and after July 1, 2007, “severance amounts” (as defined in Subsection 2.01(k) of the
Basic Plan Document) shall not be included in the definition of Compensation. Amounts that would otherwise be considered “severance amounts” pursuant to Subsection 2.01(k) except for the timing or reason for the payment shall be included
in the definition of Compensation to the extent required by Subsections 2.01(k)(2)(B), (C) and/or (D) of the Basic Plan Document, and not excluded by reason of Section 1.05(a) of this Adoption Agreement, beginning on the effective
date described herein, unless a later effective date is specified below.
					
		 		  	(1)	  	 ̈	  	Later Effective Date. The Plan was amended to treat the payments described in Subsections 6.01(m)(4) and (5) of the Basic Plan Document as part of the definition of Compensation until Limitation Years
beginning on or after:                          (cannot be later than the date the Plan was restated onto the Fidelity
Volume Submitter).
			
		 	(b)	  	KETRA, GOZA and EESA Compliance – Except as otherwise indicated below, the Plan was amended to allow a Qualified Disaster Distribution to a Qualified Individual in accordance with
Section 10.08 of the Basic Plan Document for the following events provided such distribution occurred prior to January 1, 2007:
					
		 		  	(1)	  	 ̈	  	Unless a later date is specified below, effective August 25, 2005 for a Qualified Individual in the Hurricane Katrina disaster area (as defined in Code section 1400M(2)) who has sustained an economic loss by reason
of Hurricane Katrina.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than
December 31, 2006)
					
		 		  	(2)	  	 ̈	  	Unless a later date is specified below, effective September 23, 2005 for a Qualified Individual in the Hurricane Rita disaster area (as defined in Code section 1400M(4)) who has sustained an economic loss by reason
of Hurricane Rita.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than
December 31, 2006)
					
		 		  	(3)	  	 ̈	  	Unless a later date is specified below, effective October 23, 2005 for a Qualified Individual in the Hurricane Wilma disaster area (as defined in Code section 1400M(6)) who has sustained an economic loss by reason
of Hurricane Wilma.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than
December 31, 2006)

  

					
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		 		  	(4)	  	 ̈	  	For a distribution treated as a Qualified Disaster Distribution made prior to December 31, 2009 and, unless a later date is specified below, effective on the date declared by the President on or after May 20,
2008, and before August 1, 2008, under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of severe storms, tornados, or flooding occurring in any of the States of Arkansas, Illinois, Indiana, Iowa,
Kansas, Michigan, Minnesota, Missouri, Nebraska, and Wisconsin.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than
December 30, 2009)
			
		 	(c)	  	PPA Compliance – Unless a different date is specified below, the following changes for compliance with PPA were effective as of the first day of the first Plan Year beginning on or after
January 1, 2007:
					
		 		  	(1)	  	 ̈	  	Qualified Reservist Distributions – The Plan was amended to allow Participants to obtain a Qualified Reservist Distribution in accordance with Section 10.09 of the Basic Plan Document after the
following date: (cannot be prior to September 11, 2001).
				
		 		  	(2)	  	Direct Rollovers – Unless a later date is specified below, the Plan was amended to provide for the following changes:
					
		 		  		  	(A)	  	Unless a later date is specified below, effective for taxable years after December 31, 2006, the Plan was amended to separately account for amounts of Employee Contributions (and the earnings thereon) received as a
direct rollover from a 403(b) plan and to allow rollovers to a 403(b) plan of such amounts provided such contract provides for separate accounting of amounts so transferred (and earnings thereon).
							
		 		  		  		  	(i)	  	 ̈	  	Later Effective Date:                          (cannot be later than the earlier of
(I) the date the Plan was restated onto the Fidelity Volume Submitter or (II) the day the Plan was first amended to allow rollovers of Employee Contributions from 403(b) plans)
					
		 		  		  	(B)	  	Unless a later date is specified below, effective for distributions after December 31, 2006, the Plan was amended to allow a designated beneficiary (as defined in Code section 401(a)(9)(E)) of a Participant
who is not the surviving Spouse of the Participant to elect to roll over such distribution to an individual retirement plan described in clause (i) or (ii) of paragraph (8)(B) of Code section 402(c) established for the purposes of receiving such
distribution.
							
		 		  		  		  	(i)	  	 ̈	  	Later Effective Date:                          (cannot be later than the earlier of
(I) the date the Plan was restated onto the Fidelity Volume Submitter or (II) the first day of the first Plan Year beginning on or after January 1, 2010)
					
		 		  		  	(C)	  	Effective for distributions after December 31, 2007, the Plan was amended to make a Roth IRA described in Code section 408A an “eligible retirement plan,” as defined in Section 13.04(b).
					
		 		  	(3)	  	 ̈	  	Pre-Normal Retirement Age Pension Plan Distributions – The Plan was amended to allow Participants to obtain a distribution in accordance with Section 10.10 of the Basic Plan Document after the following
date:                          (cannot be prior to first day of the first plan year beginning after December 31,
2006).
				
		 		  	(4)	  	Qualified Optional Survivor Annuity – Effective for Plan Years beginning after December 31, 2007 (subject to the effective date applicable in the event that the Plan is maintained pursuant to a
collective bargaining agreement under certain circumstances, as described in (C) below), the Plan shall also permit the Participant, subject to the spousal consent rules described in Section 14.05, to elect a qualified optional survivor
annuity, which provides for a life annuity payable to the Participant and a survivor annuity payable to the Participant’s beneficiary equal to either 75% or 50% as described in (A) or (B) below, as
applicable.

  

					
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		 		  		  	(A)	  	If the survivor annuity portion of the Plan’s qualified joint and survivor annuity (as defined in Section 14.01) is less than 75%, then the survivor annuity portion of the qualified optional survivor annuity
shall be 75%.
					
		 		  		  	(B)	  	If the survivor annuity portion of the Plan’s qualified joint and survivor annuity (as defined in Section 14.01) is greater than or equal to 75%, then the survivor annuity portion of the qualified optional
survivor annuity shall be 50%.
					
		 		  		  	(C)	  	Notwithstanding the effective date described above in this Article 4, if the Plan is maintained pursuant to one or more collective bargaining agreements between employee representatives and one or more employers
ratified on or before August 17, 2006, then this Subsection (4) shall be effective for Plan Years beginning on and after the earlier of (i) the later of January 1, 2008 or the date on which the last of such collective bargaining
agreements terminates (determined without regard to any extension thereof after August 17, 2006), or (ii) January 1, 2009.
				
		 		  	(5)	  	Transfers to the Pension Benefit Guarantee Corporation upon Plan Termination – Unless a later date is specified below, the Plan was amended effective January 1, 2007 to provide that, in the event
that the Employer terminates the Plan, as described in Section 16.06, and, at the time, the whereabouts of one or more distributees are unknown, as described in Section 12.06, and the Employer so directs the Trustee, subject to applicable
guidance, the Trustee shall transfer the Accounts of such distributees to the Pension Benefit Guarantee Corporation.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than the date the
Plan was restated onto the Fidelity Volume Submitter)
				
		 		  	(6)	  	Modification of rules governing Hardship Distributions – Unless a later effective date is specified below, effective beginning on August 17, 2006, the Plan allowed hardship distributions pursuant to the
reasons presented in Subsections 10.05(a)(1), (3) and (5) of the Basic Plan Document on account of a hardship/expense of a primary beneficiary.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than the date the
Plan was restated onto the Fidelity Volume Submitter)
				
		 		  	(7)	  	Removal of Gap Period Income – Effective for plan years beginning after December 31, 2007, the Plan does not allow the calculation of income or loss allocable to “excess deferrals”,
“excess contributions”, and “excess aggregate contributions” for the period of time elapsing between the end of the “determination year” and the date of distribution (also known as the “gap
period”).
					
		 		  	(8)	  	 ̈	  	Previous QACA – Prior to the effective date in Section 1.01(g), the Plan previously utilized a QACA to meet the requirements of the ADP test for the following Plan Years (for each Plan Year list the
Participants covered by the QACA, the automatic enrollment rate and the deferral increase structure):
					
		 		  		  		  	  

					
		 		  		  		  	  

					
		 		  	(9)	  	 ̈	  	Previous EACA – Prior to the effective date in Section 1.01(g), the Plan had in place an EACA for the following Plan Years (for each Plan Year list the Participants covered by the EACA, whether there was a
permissible withdrawal permitted of the automatic enrollment contributions and, if so, the date any such permissible withdrawal was eliminated and the date after which no automatic enrollment Deferral Contributions are included in the amount of such
available withdrawal):
					
		 		  		  		  	  

					
		 		  		  		  	  

  

					
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		 		  	(10)	  	Discontinuing 401(k) Safe Harbor Nonelective Employer Contributions – Unless a later effective date is provided below, effective on or after July 1, 2009, the Plan may be amended to reduce or
eliminate 401(k) Safe Harbor Nonelective Employer Contributions in accordance with Section 6.12(d) of the Basic Plan Document.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than the date the
Plan was restated onto the Fidelity Volume Submitter)
				
		 		  	(11)	  	Notice Adjustments – Unless a later effective date is provided below, effective for Plan Years (and the notices issued therein) beginning after December 31, 2006, the Plan was amended to provide
that the notice described in Section 13.05 would state consequences of a failure to defer and that the notice period in Sections 9.08, 12.03, 13.05 and 14.05 of the Basic Plan Document would be 180 days rather than 90 days.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than the date the
Plan was restated onto the Fidelity Volume Submitter)
				
		 		  	(12)	  	Diversification out of Employer Securities – Unless a later date is provided below, the Plan was amended to provide that, if one of the Plan’s Permissible Investments is Employer Stock, all of
the following apply:
					
		 		  		  	(A)	  	With respect to the portion of a Participant’s or Beneficiary’s Account attributable to:
						
		 		  		  		  	(i)	  	Deferral, Employee and/or Rollover Contributions and invested in Employer Stock, the Participant or Beneficiary shall immediately be permitted to exchange out of Employer Stock into any other Permissible Investment
otherwise available.
						
		 		  		  		  	(ii)	  	Unless provided otherwise below, Matching and/or Nonelective Employer Contributions and invested in Employer Stock, the Participant or Beneficiary shall immediately be permitted to exchange out of Employer Stock into
any other Permissible Investment otherwise available.
								
		 		  		  		  		  	(I)	  	 ̈	  	For a Participant, such exchanges shall only be permitted after the Participant has completed at least three years of service.
					
		 		  		  	(B)	  	The Plan must have no fewer than three Permissible Investments, other than Employer Stock, each of which must be diversified and have materially different risk and return characteristics. A Participant or Beneficiary
who is permitted to exchange out of Employer Stock must be permitted to direct the investment of the proceeds from such an exchange out of Employer Stock into one of such Permissible Investments. Notwithstanding anything to the contrary, the
following shall apply:
						
		 		  		  		  	(i)	  	The Plan shall not be treated as failing to meet the requirements of this section paragraph merely because the Plan limits the time for divestment and reinvestment to periodic, reasonable opportunities occurring no less
frequently than quarterly; and
						
		 		  		  		  	(ii)	  	Except as provided in otherwise applicable guidance, the Plan shall not impose restrictions or conditions with respect to the investment of Employer Stock that are not imposed on the investment of other assets of the
Plan. However, the preceding sentence shall not apply to any restrictions or conditions imposed by reason of the application of securities laws.
					
		 		  		  	(C)	  	For purposes of this paragraph, Employer Stock shall include any employer securities (as defined in Section 407(d)(1) of ERISA) of a publicly traded company or one treated as publicly traded pursuant to
Section 401(a)(35)(F) of the Code.

  

					
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		 		  		  	(D)	  	 ̈	  	Employer Stock was acquired in a Plan Year beginning before January 1, 2007 and the provisions of this paragraph shall only apply to the “applicable percentage” of such securities. This provision shall be
applied separately with respect to each class of Employer Securities, but shall not apply to a Participant who has attained age 55 and completed at least three years of service (as defined in paragraph 13.1(a)(1) above) before the first Plan Year
beginning after December 31, 2005.
						
		 		  		  		  	(i)	  	For purposes of election, the “applicable percentage” shall be determined as follows:
							
		 		  		  		  		  	(I)	  	For the first Plan Year to which this paragraph applies, the applicable percentage is 33.
							
		 		  		  		  		  	(II)	  	For the second Plan Year to which this paragraph applies, the applicable percentage is 66.
							
		 		  		  		  		  	(III)	  	For the third Plan Year to which this paragraph applies and following, the applicable percentage is 100.
						
		 		  		  	(E)	  	 ̈	  	Delayed Effective Date for Bargained Plan. The Plan was maintained pursuant to one or more collective bargaining agreements ratified by August 17, 2006 and the effective date of the provisions of this
paragraph shall be the first day of the first Plan Year beginning on or after:
						
		 		  		  		  		  	Effective Date: Plan Year beginning                          (cannot be later than the
earlier of the Plan Year beginning after (i) December 31, 2008 or (ii) the later of the date on which the last of the collective bargaining agreements described above terminates (without regard to any extension on or after
August 17, 2006) or December 31, 2007)
			
		 	(d)	  	HEART Compliance – Unless a different date is specified below, the following changes for compliance with HEART were effective as of the first day of the first Plan Year beginning on or after
January 1, 2009:
				
		 		  	(1)	  	Death/Disability of Participant While Performing Qualified Military Service. The Plan was amended to provide that Participants dying and/or becoming disabled on or after January 1, 2007 while performing
qualified military service as defined in Code Section 414(u)(5) (“QMS”) shall be treated under the Plan for all purposes (other than benefit accruals described in paragraph (2) below), including vesting and any exceptions to
applicable last day or Hours of Service requirements, in the same way as Active Participants who die and/or become disabled while employed, as if the Participant resumed employment with the Employer and then terminated employment on account of death
or disability.
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date for Disabled Participants:                          (cannot
be later than the date the Plan was restated onto the Fidelity Volume Submitter). Participants becoming disabled before this date shall not be treated as having resumed employment pursuant to Section 18.06 of the Basic Plan Document on the
day prior to dying or becoming.
				
		 		  		  	Note: A later effective date may not be elected for Participants who die while performing QMS.
				
		 		  	(2)	  	Treatment of Qualified Military Service for Other Benefit Accrual Purposes. Unless a later effective date is specified below, the Plan was amended to provide that Participants dying and/or becoming disabled while
performing QMS on or after January 1, 2007 shall not be treated as having resumed employment pursuant to Section 18.06 of the Basic Plan Document on the day prior to dying or becoming disabled for purposes of calculating contributions
pursuant to Code Section 414(u)(9).

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
		  	47	  	

																					
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date:                          (cannot be later than the later of
(i) the date the Plan was restated onto the Fidelity Volume Submitter or (ii) the end of the first Plan Year beginning on or after January 1, 2010). Participants dying and/or becoming disabled after this date shall not be
treated as having resumed employment pursuant to Section 18.06 of the Basic Plan Document on the day prior to dying or becoming disabled for purposes of calculating contributions pursuant to Code Section 414(u)(9).
				
		 		  	(3)	  	Differential Wages. Unless a later effective date is specified below, effective for wages paid after December 31, 2008:
					
		 		  		  	(A)	  	The Plan was amended to include Differential Wages in the definition of Compensation under the Plan.
							
		 		  		  		  	(i)	  	 ̈	  	Later Effective Date. The Plan was amended to include Differential Wages in the definition of Compensation for wages paid after the following date:
                         (cannot be later than the later of (I) the date the Plan was restated onto the Fidelity
Volume Submitter or (II) the end of the first Plan Year beginning on or after January 1, 2010)
					
		 		  		  	(B)	  	The Plan was amended to provide that Compensation shall not include Differential Wages for purposes of determining the amount or allocation of contributions under Article 5 of the Plan.
							
		 		  		  		  	(i)	  	 ̈	  	Later Effective Date. The Plan was amended to exclude Differential Wages from Compensation for purposes of determining contributions for wages paid after the following date:
                         (cannot be later than the later of (I) the date the Plan was restated onto the Fidelity
Volume Submitter or (II) the end of the first Plan Year beginning on or after January 1, 2010)
				
		 		  	(4)	  	Available In-Service Withdrawal. Unless a later effective date is specified below, the Plan was amended to provide that a Participant performing service in the uniformed services as described in Code
Section 3401(h)(2)(A) shall be treated as having been severed from employment with the Employer for purposes of Code Section 401(k)(2)(B)(i)(I) and shall, as long as that service in the uniformed services continues, have the option to
request a distribution of all or any part of his or her Account restricted from distribution only due to Code Section 401(k)(2)(B)(i)(I).
						
		 		  		  	(A)	  	 ̈	  	Later Effective Date. The Plan was amended to allow the above-described distribution on and after the following date:
                         (cannot be later than the later of (i) the date the Plan was restated onto the Fidelity
Volume Submitter or (ii) the end of the first Plan Year beginning on or after January 1, 2010)
			
		 	(e)	  	Modification of minimum distribution rules for 2009 – The Plan was amended to provide all of the following with regard to required minimum distributions for 2009 but for the enactment of Code Section
401(a)(9)(H) (“2009 RMDs”):
				
		 		  	(1)	  	A Participant or Beneficiary who would have been required to 2009 RMDs, and who would have satisfied that requirement by receiving distributions specifically equal to the 2009 RMDs, will not receive those distributions
for 2009 unless the Participant or Beneficiary chooses to receive such distributions.
				
		 		  	(2)	  	Any Participant or Beneficiary who had elected a systematic withdrawal plan (“installments”) pursuant to Section 13.01 of the Basic Plan Document to satisfy (in part or wholly) a 2009 RMD is hereby
permitted to elect to stop those installments.
				
		 		  	(3)	  	For only those Participants and Beneficiaries who have made the election described in paragraph (2) immediately above, there is hereby added to the Plan a partial withdrawal to allow such a Participant or
Beneficiary to withdraw any part of his or her Account prior to December 31, 2009.

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
		  	48	  	

																					
				
		 		  	(4)	  	Participants and Beneficiaries described in paragraph (1) above will be given the opportunity to elect to receive 2009 RMDs as described in the preceding paragraphs of this Subsection.
				
		 		  	(5)	  	Solely for purposes of applying the direct rollover provisions of the plan, 2009 RMDs will be treated as eligible rollover distributions.
			
		 	(f)	  	SBJA Compliance – If selected below and on the effective date provided below, the Plan was amended to allow a conversion of pre-tax assets available for withdrawal to a Roth rollover subject to
the same distribution requirements as Roth Deferral Contributions according to the following:
					
		 		  	(1)	  	x	  	In-Plan Roth Conversion. The Plan was amended, effective on the date provided below, to allow any Participant or Beneficiary, unless otherwise specified in (B) below, to elect to have otherwise distributable
portions of his Account, which are not part of an outstanding loan balance pursuant to Article 9 of the Basic Plan Document and are not “designated Roth contributions” under the Plan, be considered “designated Roth contributions”
for purposes of the Plan.
					
		 		  		  	(A)	  	Effective Date: 01/01/2015 (cannot be prior to September 27, 2010)
						
		 		  		  	(B)	  	 ̈	  	On the same effective date as stated in (A) above, unless provided otherwise in (i) below, only a Participant who is still employed by the Employer or an alternate payee or spousal Beneficiary of such a Participant may
elect to make such an in-plan Roth Rollover.
							
		 		  		  		  	(i)	  	 ̈	  	Later Effective Date. The Plan was amended to only allow the transaction for such Participants, alternate payees and beneficiaries on and after the following date:
                          
				
		 	(g)	  	 ̈	  	Prior to the date specified in Subsection 1.01(g), the provisions of this amendment and restatement related to the provisions found within (a) through (f) of this Snap Off Addendum shall apply in accordance with the
provisions of this amendment and restatement, except as otherwise provided below:
				
		 		  		  	  

				
		 		  		  	  

				
		 		  		  	  

				
		 	(h)	  	 ̈	  	Prior to the date specified in Subsection 1.01(g), the provisions of this amendment and related to the provisions found within (a) through (f) of this Snap Off Addendum shall apply to all plans merged into the Plan
during the period covered by this Addendum except to the extent any such merged plan is amended to provide otherwise or as provided below:
				
		 		  		  	  

				
		 		  		  	  

				
		 		  		  	  

  

					
	Volume Submitter Defined Contribution Plan – 10/2014	  	PS Plan
		  		  	09626-1414473010AA
		  	© 2014 FMR LLC	  	
		  	All rights reserved.	  	
		  	49EX-4.1

 EXHIBIT 4.1 

EXECUTION COPY 
 SERIES
2014-5 
 INDENTURE SUPPLEMENT 

BETWEEN 
 ALLY MASTER
OWNER TRUST 
 ISSUING ENTITY 

AND 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION 
 INDENTURE TRUSTEE 

DATED AS OF NOVEMBER 12, 2014 

SERIES 2014-5 ASSET BACKED NOTES, 

CLASS A-1, CLASS A-2, CLASS B, CLASS C AND CLASS D 

AND 
 SERIES 2014-5
ASSET BACKED EQUITY NOTES 
 CLASS E 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I CREATION OF SERIES 2014-5 NOTES
	  	 	2	  
	 SECTION 1.01
	 	 Designation
	  	 	2	  
	 SECTION 1.02
	 	 Reopening of Class or Tranche of Notes
	  	 	3	  
		
	 ARTICLE II DEFINITIONS
	  	 	3	  
	 SECTION 2.01
	 	 Definitions
	  	 	3	  
	 SECTION 2.02
	 	 Other Definitional Provisions
	  	 	22	  
		
	ARTICLE III SERVICING FEE	  	 	22	  
	 SECTION 3.01
	 	 Servicing Compensation
	  	 	22	  
		
	ARTICLE IV RIGHTS AND OBLIGATIONS OF SERIES 2014-5 NOTEHOLDERS AND ALLOCATION AND APPLICATION OF COLLECTIONS	  	 	23	  
	 SECTION 4.01
	 	 Collections and Allocations
	  	 	23	  
	 SECTION 4.02
	 	 Determination of Monthly Interest
	  	 	23	  
	 SECTION 4.03
	 	 Determination of Monthly Principal Amount
	  	 	24	  
	 SECTION 4.04
	 	 Application of Available Funds on Deposit in Note Defeasance Account, Collection Account and Other Sources
	  	 	25	  
	 SECTION 4.05
	 	 Series Charge-Offs
	  	 	30	  
	 SECTION 4.06
	 	 Reallocated Principal Collections
	  	 	31	  
	 SECTION 4.07
	 	 Excess Interest Collections
	  	 	32	  
	 SECTION 4.08
	 	 Shared Principal Collections
	  	 	32	  
	 SECTION 4.09
	 	 Reinstatement of Invested Amount
	  	 	33	  
	 SECTION 4.10
	 	 Note Distribution Account
	  	 	34	  
	 SECTION 4.11
	 	 Reserve Fund
	  	 	34	  
	 SECTION 4.12
	 	 Determination of LIBOR
	  	 	36	  
	 SECTION 4.13
	 	 Accumulation Period Reserve Account
	  	 	37	  
	 SECTION 4.14
	 	 Transfer Restrictions
	  	 	38	  
	 SECTION 4.15
	 	 Note Defeasance Account
	  	 	40	  
	 SECTION 4.16
	 	 FATCA
	  	 	42	  
		
	ARTICLE V DELIVERY OF SERIES 2014-5 NOTES; DISTRIBUTIONS; REPORTS TO SERIES 2014-5 NOTEHOLDERS	  	 	42	  
	 SECTION 5.01
	 	 Delivery and Payment for Series 2014-5 Notes
	  	 	42	  
	 SECTION 5.02
	 	 Distributions
	  	 	42	  
	 SECTION 5.03
	 	 Reports and Statements to Series 2014-5 Noteholders
	  	 	44	  
	 SECTION 5.04
	 	 Other Information to be Provided by the Indenture Trustee and the Owner Trustee
	  	 	45	  

  
 i 

							
	 ARTICLE VI SERIES 2014-5 EARLY AMORTIZATION EVENTS AND SERIES 2014-5 EVENTS OF DEFAULT
	  	 	46	  
	 SECTION 6.01
	 	Series 2014-5 Early Amortization Events	  	 	46	  
	 SECTION 6.02
	 	Series 2014-5 Events of Default	  	 	48	  
	 SECTION 6.03
	 	Acceleration of Maturity; Rescission and Annulment	  	 	49	  
		
	 ARTICLE VII REDEMPTION OF SERIES 2014-5 NOTES; SERIES LEGAL MATURITY; FINAL DISTRIBUTIONS
	  	 	50	  
	 SECTION 7.01
	 	Optional Redemption of Series 2014-5 Notes	  	 	50	  
	 SECTION 7.02
	 	Series Legal Maturity	  	 	50	  
		
	 ARTICLE VIII MISCELLANEOUS PROVISIONS
	  	 	52	  
	 SECTION 8.01
	 	Ratification of Agreement	  	 	52	  
	 SECTION 8.02
	 	Form of Delivery of Series 2014-5 Notes	  	 	52	  
	 SECTION 8.03
	 	Counterparts	  	 	52	  
	 SECTION 8.04
	 	Governing Law	  	 	52	  
	 SECTION 8.05
	 	Effect of Headings and Table of Contents	  	 	52	  
	 SECTION 8.06
	 	Notices	  	 	53	  
	 SECTION 8.07
	 	Limitation of Liability	  	 	53	  

  

							
	 EXHIBIT A
	 	Form of Note	  	 	A-1	  
	 EXHIBIT B
	 	Form of Monthly Statement	  	 	B-1	  
	 EXHIBIT C
	 	Servicing Criteria to be Addressed in Indenture Trustee’s Assessment of Compliance	  	 	C-1	  

  
 ii 

 SERIES 2014-5 INDENTURE SUPPLEMENT, dated as of November 12, 2014, by and between ALLY
MASTER OWNER TRUST, a Delaware statutory trust, as Issuing Entity, and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Indenture Trustee. 

RECITALS 
 A.
Section 2.1 of the Indenture provides, among other things, that the Issuing Entity and the Indenture Trustee may at any time and from time to time enter into an Indenture Supplement to authorize the issuance by the Issuing Entity of
Notes in one or more Series. 
 B. The parties to this Indenture Supplement, by executing and delivering this Indenture Supplement, are
providing for the creation of the Series 2014-5 Notes and specifying the Principal Terms thereof. 
 In consideration of the mutual
covenants and agreements contained in this Indenture Supplement, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

GRANTING CLAUSES 
 In
addition to the grant of the Indenture, the Issuing Entity hereby grants to the Indenture Trustee, for the exclusive benefit of the Holders of the Series 2014-5 Notes, all of the Issuing Entity’s right, title and interest (whether now owned or
hereafter acquired) in, to and under the following (collectively, the “Series Collateral”) with respect to the Series 2014-5: 

(i) all Collections on the Receivables allocated to the Series 2014-5 Notes; 

(ii) all Eligible Investments and all monies, instruments, securities, security entitlements, documents, certificates of
deposit and other property from time to time on deposit in or credited to the Series Accounts (including any subaccount thereof) and in all interest, proceeds, earnings, income, revenue, dividends and other distributions thereof (including any
accrued discount realized on liquidation of any investment purchased at a discount) other than Investment Proceeds with respect to the Note Defeasance Account; and 

(iii) all present and future claims, demands, causes of action and choses in action regarding any of the foregoing and all
payments on any of the foregoing and all proceeds of any nature whatsoever regarding any of the foregoing, including all proceeds of the voluntary or involuntary conversion thereof into cash or other liquid property and all cash proceeds, accounts,
accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any kind and other forms of obligations and receivables, instruments and other property that at
any time constitute any part of or are included in the proceeds of any of the foregoing. 

 The foregoing grants are made in trust to secure (a) the Issuing Entity’s obligations
under the Series 2014-5 Notes equally and ratably without prejudice, priority or distinction between any Series 2014-5 Note and any other Series 2014-5 Notes, other than as expressly provided in this Indenture Supplement, (b) the payment of all
other sums payable under the Series 2014-5 Notes, the Indenture and this Indenture Supplement and (c) the compliance with the terms and conditions of the Series 2014-5 Notes, the Indenture and this Indenture Supplement, all as provided herein
or therein. 
 The Indenture Trustee, as indenture trustee on behalf of the Noteholders, hereby acknowledges the foregoing grants, accepts
the trusts under this Indenture Supplement in accordance with the provisions of this Indenture Supplement, and agrees to perform the duties herein required to the end that the interests of the Noteholders may be adequately protected. 

ARTICLE I 
 CREATION OF
SERIES 2014-5 NOTES 
 SECTION 1.01 Designation. 

(a) There is hereby created a Series of Notes to be issued by the Issuing Entity on the Closing Date pursuant to the Indenture and this
Indenture Supplement to be known as the “Series 2014-5 Asset Backed Notes” or the “Series 2014-5 Notes.” The Series 2014-5 Notes shall be issued in five Classes, the first shall be known as the “Series
2014-5 Asset Backed Notes, Class A,” the second shall be known as the “Series 2014-5 Fixed Rate Asset Backed Notes, Class B,” the third shall be known as the “Series 2014-5 Fixed Rate Asset Backed Notes, Class
C,” the fourth shall be known as the “Series 2014-5 Fixed Rate Asset Backed Notes, Class D,” and the fifth shall be known as the “Series 2014-5 Asset Backed Equity Notes, Class E.” The Series 2014-5 Asset
Backed Notes, Class A, shall be issued in two Tranches. The first shall be known as the “Series 2014-5 Floating Rate Asset Backed Notes, Class A-1” and the second shall be known as the “Series 2014-5 Fixed Rate
Asset Backed Notes, Class A-2.” The Series 2014-5 Notes shall be due and payable on the Series 2014-5 Legal Maturity Date. 

(b) Series 2014-5 shall be a Nonoverconcentration Series. Series 2014-5 shall be in Excess Interest Sharing Group One and in Principal Sharing
Group One. Series 2014-5 shall not be a Shared Enhancement Series or in an Interest Reallocation Group. Series 2014-5 shall not be subordinated to any other Series. 

(c) The Series 2014-5 Notes are “Notes” and this Indenture Supplement is an “Indenture Supplement” for all purposes under
the Indenture. If any provision of the Series 2014-5 Notes or this Indenture Supplement conflicts with or is inconsistent with any provision of the Indenture, the provisions of the Series 2014-5 Notes or this Indenture Supplement, as the case may
be, control. 
 (d) Each term defined in Section 2.01 of this Indenture Supplement relates only to Series 2014-5 and this
Indenture Supplement and to no other Series or Indenture Supplements. 

  
 2 

 (e) Notwithstanding anything to the contrary in the Indenture, the Series 2014-5 Notes, other
than the Class E Note, shall be issued in fully registered form in minimum amounts of $1,000 and in integral multiples of $1,000 in excess thereof (except that one Note from each such class may be issued in a different amount so long as such amount
exceeds $1,000); provided that the minimum amounts of the Series 2014-5 Notes, other than the Class E Note, shall be subject to the restrictions set forth in Section 4.14. The Class E Note shall be issued in fully registered form in a
principal amount equal to the Class E Note Principal Balance. The Class E Note will be issuable in a minimum denomination of 100% of the Class E Note Principal Balance. 

SECTION 1.02 Reopening of Class or Tranche of Notes. 

The Depositor may from time to time, with notice to the Rating Agencies but without notice to, or the consent of, the holders of a Class or
Tranche of Series 2014-5 Notes, create and issue additional Series 2014-5 Notes equal in rank to any Class or Tranche of Series 2014-5 Notes previously offered in all respects or in all respects, except for the payment of interest accruing prior to
the Issuance Date of such additional Series 2014-5 Notes in a Class or Tranche of Series 2014-5 Notes or except for the first payment of interest following the Issuance Date of such additional Series 2014-5 Notes in a Class or Tranche of Series
2014-5 Notes. This is called a “reopening.” When issued, the additional Series 2014-5 Notes of a Class or Tranche shall be equally and ratably entitled to the benefits of the Indenture and this Indenture Supplement applicable to
those Series 2014-5 Notes with the other Outstanding Notes of that Class or Tranche without preference, priority or distinction. These additional Series 2014-5 Notes may be consolidated and form a single Class or Tranche with the previously issued
Series 2014-5 Notes and shall have the same terms as to status, redemption or otherwise as the previously issued Series 2014-5 Notes. 

ARTICLE II 
 DEFINITIONS

 SECTION 2.01 Definitions. 

Whenever used in this Indenture Supplement, the following words and phrases have the following meanings, and the definitions of such terms are
applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such terms. 

Accumulation Period Factor: With respect to any Collection Period, a fraction: 

(a) the numerator of which is equal to the sum of the invested amounts of all outstanding Series in Principal Sharing Group One
(including the Invested Amount for Series 2014-5) as of the last day of the Revolving Period; and 
 (b) the denominator of
which is equal to the sum of (i) the Invested Amount as of the last day of the Revolving Period, plus (ii) the invested amounts as of the last day of the Revolving Period of all outstanding Series in Principal Sharing Group One (other than
the Invested Amount for Series 2014-5) that are expected to be paying or accumulating principal during the period from such Collection Period to the Collection Period immediately preceding the Series 2014-5 Expected Maturity Date; 

  
 3 

 provided, however, that this definition may be changed at any time upon receipt by
the Indenture Trustee of an Officer’s Certificate from the Servicer that such change shall not have an Adverse Effect. 

Accumulation Period Length: Has the meaning specified in Section 4.04(h). 

Accumulation Period Reserve Account: Has the meaning specified in Section 4.13(a). 

Accumulation Period Reserve Account Available Amount: With respect to each Distribution Date beginning on the Accumulation Period
Reserve Account Funding Date and until termination of the Accumulation Period Reserve Account pursuant to Section 4.13(e), the lesser of: 

(a) the amounts on deposit in the Accumulation Period Reserve Account on such Distribution Date (before giving effect to any
(i) deposits made or to be made therein pursuant to Section 4.04(a)(xi) and Section 4.04(b)(i) on such Distribution Date or (ii) any withdrawals made or to be made therefrom pursuant to Section 4.13(c)
on such Distribution Date); and 
 (b) the Accumulation Period Reserve Account Required Amount for such Distribution Date.

 Accumulation Period Reserve Account Deposit Amount: With respect to each Distribution Date beginning on the Accumulation Period
Reserve Account Funding Date and until termination of the Accumulation Period Reserve Account pursuant to Section 4.13(e), the excess of (a) the Accumulation Period Reserve Account Required Amount for such Distribution Date, over
(b) the Accumulation Period Reserve Account Available Amount for such Distribution Date. 
 Accumulation Period Reserve Account
Funding Date: The Distribution Date occurring in the third Collection Period preceding the scheduled commencement of the Controlled Accumulation Period (or such earlier or later date as may be directed by the Servicer; provided,
however, that, if the Accumulation Period Reserve Account Funding Date occurs on a later date, the Servicer expects the Accumulation Period Reserve Account to be fully funded by the commencement of the Controlled Accumulation Period). 

Accumulation Period Reserve Account Required Amount: With respect to each Distribution Date beginning on the Accumulation Period
Reserve Account Funding Date and until the Accumulation Period Reserve Account is terminated pursuant to Section 4.13(e), an amount equal to the product of (a) 0.0% (or a lower percentage upon satisfaction of the Series 2014-5
Rating Agency Condition with respect to the Series 2014-5 Notes) and (b) the Investor Note Principal Balance of the Investor Notes as of the Accumulation Period Reserve Account Funding Date. 

  
 4 

 Accumulation Period Reserve Draw Amount: With respect to any Distribution Date relating to
the Controlled Accumulation Period or the first Distribution Date relating to the Early Amortization Period, the excess, if any, of (a) the Covered Amount determined as of such Distribution Date, over (b) the portion of the Available
Series Interest Collections for such Distribution Date constituting Investment Proceeds from the Note Distribution Account and the Accumulation Period Reserve Account. 

Additional Available Series Principal Collections: With respect to any Distribution Date and the related Collection Period, an amount
equal to the sum of (i) upon the termination of the Reserve Fund pursuant to Section 4.11(e), all remaining amounts on deposit in the Reserve Fund (excluding amounts representing Investment Proceeds and after giving effect to
Section 4.04(b)(ii)), plus (ii) any Available Series Interest Collections, Reserve Fund Available Amounts and Excess Interest Collections from other Series in the same Excess Interest Sharing Group as the Series 2014-5 Notes that,
as provided in Sections 4.04(a) and (b), are to be treated as Additional Available Series Principal Collections with respect to that Distribution Date. 

Available Series Interest Collections: With respect to any Distribution Date, an amount equal to the sum of (a) the Series
Interest Collections with respect to such Distribution Date, plus (b) all interest and Investment Proceeds on Eligible Investments credited to the Reserve Fund, the Note Distribution Account and the Accumulation Period Reserve Account (net of
losses and investment expenses) during the related Collection Period, plus (c) all withdrawals from the Accumulation Period Reserve Account pursuant to Section 4.13(c), plus (d) on the termination of the Accumulation Period
Reserve Account pursuant to Section 4.13(e), all remaining amounts on deposit in the Accumulation Period Reserve Account (excluding amounts representing Investment Proceeds and after giving effect to Section 4.13(c)). 

Available Series Principal Collections: With respect to any date, an amount equal to the sum of (i) the Series Principal
Collections for such date, plus (ii) any Shared Principal Collections with respect to other Series in Principal Sharing Group One (including any amounts on deposit in the Excess Funding Account that are allocated to Series 2014-5 pursuant to
the Indenture for application as Shared Principal Collections) for such date, plus (iii) if such date is also a Distribution Date, the amount of any Additional Available Series Principal Collections remaining after application thereof pursuant
to Section 4.04(f) being treated as Available Series Principal Collections on such date plus (iv) the amounts, if any, withdrawn from the Excess Funding Account and applied pursuant to Section 4.04(g), minus (v) the
amount of any Series Principal Collections being treated as Reallocated Principal Collections pursuant to Section 4.06. 

Average Class A-1 Note Principal Balance: For any period, an amount equal to the result of (a) the aggregate of the
Class A-1 Note Principal Balance for each day during that period divided by (b) the number of days in that period. 

  
 5 

 Average Class A-2 Note Principal Balance: For any period, an amount equal to the
result of (a) the aggregate of the Class A-2 Note Principal Balance for each day during that period divided by (b) the number of days in that period. 

Average Class B Note Principal Balance: For any period, an amount equal to the result of (a) the aggregate of the Class B Note
Principal Balance for each day during that period divided by (b) the number of days in that period. 
 Average Class C Note
Principal Balance: For any period, an amount equal to the result of (a) the aggregate of the Class C Note Principal Balance for each day during that period divided by (b) the number of days in that period. 

Average Class D Note Principal Balance: For any period, an amount equal to the result of (a) the aggregate of the Class D Note
Principal Balance for each day during that period divided by (b) the number of days in that period. 
 Average Net Invested
Amount: For any period, an amount equal to the result of (a) Net Invested Amount for each day during that period divided by (b) the number of days in that period. 

Back-up Servicing Fee Rate: 0.009% per annum or such other percentage (not to exceed
0.009% without satisfaction of the Series 2014-5 Rating Agency Condition) as may be specified as such in the Back-up Servicing Agreement. 

Bloomberg Screen BTMM Page: The display page currently so designated on the Bloomberg Screen BTMM Page (or such other page as may
replace such page in that service for the purpose of displaying comparable rates or prices). 
 Class A Invested Amount: As of
any date, the sum of the Class A-1 Invested Amount and the Class A-2 Invested Amount, in each case, as of such date. 

Class A Monthly Interest: With respect to any Interest Period and the related Distribution Date, the sum of the Class A-1
Monthly Interest and the Class A-2 Monthly Interest for such Interest Period and Distribution Date. 
 Class A Note: Any
one of the Class A-1 Notes or the Class A-2 Notes. 
 Class A Note Initial Principal Balance: The sum of the
Class A-1 Note Initial Principal Balance and the Class A-2 Note Initial Principal Balance. 
 Class A Note Principal
Balance: As of any date, the sum of the Class A-1 Note Principal Balance as of such date and the Class A-2 Note Principal Balance as of such date. 

Class A Noteholder: The Person in whose name a Class A Note is registered in the Note Register. 

  
 6 

 Class A-1 Invested Amount: As of any date, an amount equal to (a) the
Class A-1 Note Principal Balance as of such date, minus (b) the excess, if any, of (i) the cumulative amount of Reallocated Principal Collections allocable to the Class A-1 Notes immediately before such date pursuant to
Section 4.06 over (ii) the cumulative amount of reimbursements thereof pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class A-1 Invested Amount to zero, minus (c) the
excess, if any, of (i) the cumulative amount of Series Charge-Offs allocable to the Class A-1 Notes immediately before such date pursuant to Section 4.05(b) over (ii) the cumulative amounts of reimbursements thereof
pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class A-1 Invested Amount to zero. 

Class A-1 Monthly Interest: Has the meaning specified in Section 4.02(a). 

Class A-1 Notes: Any one of the Series 2014-5 Floating Rate Asset Backed Notes, Class A-1 executed by the Issuing Entity and
authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 
 Class A-1 Note Initial
Principal Balance: $225,000,000. 
 Class A-1 Note Interest Rate: With respect to any Interest Period, LIBOR for such
Interest Period plus 0.49% per annum. 
 Class A-1 Note Principal Balance: As of any date, the Class A-1 Note Initial
Principal Balance, minus the aggregate amount of any principal payments made to the Class A-1 Noteholders on or prior to such date. 

Class A-2 Invested Amount: As of any date, an amount equal to (a) the Class A-2 Note Principal Balance as of such date,
minus (b) the excess, if any, of (i) the cumulative amount of Reallocated Principal Collections allocable to the Class A-2 Notes immediately before such date pursuant to Section 4.06 over (ii) the cumulative amount of
reimbursements thereof pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class A-2 Invested Amount to zero, minus (c) the excess, if any, of (i) the cumulative amount of Series
Charge-Offs allocable to the Class A-2 Notes immediately before such date pursuant to Section 4.05(b) over (ii) the cumulative amounts of reimbursements thereof pursuant to Section 4.09 before that date, but limited
to an amount that would reduce the Class A-2 Invested Amount to zero. 
 Class A-2 Monthly Interest: Has the meaning
specified in Section 4.02(b). 
 Class A-2 Notes: Any one of the Series 2014-5 Fixed Rate Asset Backed Notes,
Class A-2 executed by the Issuing Entity and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 

Class A-2 Note Initial Principal Balance: $775,000,000. 

Class A-2 Note Interest Rate: With respect to any Interest Period, 1.60% per annum. 

  
 7 

 Class A-2 Note Principal Balance: As of any date, the Class A-2 Note Initial
Principal Balance, minus the aggregate amount of any principal payments made to the Class A-2 Noteholders on or prior to such date. 

Class B Invested Amount: As of any date, an amount equal to (a) the Class B Note Principal Balance as of such date, minus
(b) the excess, if any, of (i) the cumulative amount of Reallocated Principal Collections allocable to the Class B Notes immediately before such date pursuant to Section 4.06 over (ii) the cumulative amount of
reimbursements thereof pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class B Invested Amount to zero, minus (c) the excess, if any, of (i) the cumulative amount of Series Charge-Offs allocable to the Class B Notes immediately before such date pursuant to Section 4.05(b) over (ii) the cumulative amounts of reimbursements thereof pursuant to Section 4.09
before that date, but limited to an amount that would reduce the Class B Invested Amount to zero. 
 Class B Monthly Interest: Has
the meaning specified in Section 4.02(c). 
 Class B Note: Any one of the Series 2014-5 Fixed Rate Asset Backed Notes,
Class B executed by the Issuing Entity and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 

Class B Note Initial Principal Balance: $73,826,000. 

Class B Note Interest Rate: With respect to any Interest Period, 1.90% per annum. 

Class B Note Principal Balance: As of any date, the Class B Note Initial Principal Balance, minus the aggregate amount of any principal
payments made to the Class B Noteholders on or prior to such date. 
 Class B Noteholder: The Person in whose name a Class B Note is
registered in the Note Register. 
 Class C Invested Amount: As of any date, an amount equal to (a) the Class C Note Principal
Balance as of such date, minus (b) the excess, if any, of (i) the cumulative amount of Reallocated Principal Collections allocable to the Class C Notes immediately before such date pursuant to Section 4.06 over (ii) the
cumulative amount of reimbursements thereof pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class C Invested Amount to zero, minus (c) the excess, if any, of (i) the cumulative amount
of Series Charge-Offs allocable to the Class C Notes immediately before such date pursuant to Section 4.05(b) over (ii) the cumulative amounts of reimbursements thereof pursuant to
Section 4.09 before that date, but limited to an amount that would reduce the Class C Invested Amount to zero. 
 Class C
Monthly Interest: Has the meaning specified in Section 4.02(d). 

  
 8 

 Class C Note: Any one of the Series 2014-5 Fixed Rate Asset Backed Notes, Class C executed
by the Issuing Entity and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 
 Class
C Note Initial Principal Balance: $53,691,000. 
 Class C Note Interest Rate: With respect to any Interest Period, 2.15% per
annum. 
 Class C Note Principal Balance: As of any date, the Class C Note Initial Principal Balance, minus the aggregate amount of
any principal payments made to the Class C Noteholders on or prior to such date. 
 Class C Noteholder: The Person in whose name a
Class C Note is registered in the Note Register. 
 Class D Invested Amount: As of any date, an amount equal to (a) the Class D
Note Principal Balance as of such date, minus (b) the excess, if any, of (i) the cumulative amount of Reallocated Principal Collections allocable to the Class D Notes immediately before such date pursuant to Section 4.06 over
(ii) the cumulative amount of reimbursements thereof pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class D Invested Amount to zero, minus (c) the excess, if any, of (i) the
cumulative amount of Series Charge-Offs allocable to the Class D Notes immediately before such date pursuant to Section 4.05(b) over (ii) the cumulative amounts of reimbursements thereof
pursuant to Section 4.09 before that date, but limited to an amount that would reduce the Class D Invested Amount to zero. 

Class D Monthly Interest: Has the meaning specified in Section 4.02(e). 

Class D Note: Any one of the Series 2014-5 Fixed Rate Asset Backed Notes, Class D executed by the Issuing Entity and authenticated by
or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 
 Class D Note Initial Principal Balance:
$40,268,000. 
 Class D Note Interest Rate: With respect to any Interest Period, 2.70% per annum. 

Class D Note Principal Balance: As of any date, the Class D Note Initial Principal Balance, minus the aggregate amount of any principal
payments made to the Class D Noteholders on or prior to such date. 
 Class D Noteholder: The Person in whose name a Class D Note is
registered in the Note Register. 
 Class E Invested Amount: 

(a) With respect to the Closing Date, $174,496,879, and 

  
 9 

 (b) with respect to any subsequent date, an amount equal to 

(i) the Class E Invested Amount determined as of the immediately preceding Distribution Date (or, with respect to the initial
Distribution Date, the Class E Invested Amount as of the Closing Date); 
 (ii) minus (A) the amount of
Reallocated Principal Collections allocable to the Class E Notes pursuant to Section 4.06, if any, since the Distribution Date immediately preceding such date, but limited to an amount that would reduce the Class E Invested Amount to
zero, plus (B) the amount of reimbursements of Reallocated Principal Collections allocable to the Class E Notes pursuant to Section 4.09, if any, since the Distribution Date immediately preceding such date; 

(iii) minus (A) the amount of Series Charge-Offs allocable to the Class E
Notes pursuant to Section 4.05(b), if any, since the Distribution Date immediately preceding such date, but limited to an amount that would reduce the Class E Invested Amount to zero, plus (B) the amount of reimbursements of
Series Charge-Offs allocable to the Class E Notes pursuant to Section 4.09, if any, since the Distribution Date immediately preceding such date; 

(iv) minus an amount equal to the product of (A) the Subordination Percentage and (B) the increase, if any, in
the Series 2014-5 Excess Funding Amount since the Distribution Date immediately preceding such date; 
 (v) plus an
amount equal to the product of (A) the Subordination Percentage and (B) the decrease, if any, in the Series 2014-5 Excess Funding Amount since the Distribution Date immediately preceding such date (to the extent that the Required
Nonoverconcentration Pool Balance would not exceed the Nonoverconcentration Pool Balance, any such excess to become Class E Invested Amount on the date and to the extent that such additions would not result in the Required Nonoverconcentration Pool
Balance exceeding the Nonoverconcentration Pool Balance); 
 (vi) plus an amount equal to the increase, if any, in the
Required Class E Invested Amount as a result of a change in the Subordination Factor since the Distribution Date immediately preceding such date (to the extent that the Required Nonoverconcentration Pool Balance would not exceed the
Nonoverconcentration Pool Balance, any such excess to become Class E Invested Amount on the date and to the extent that such additions would not result in the Required Nonoverconcentration Pool Balance exceeding the Nonoverconcentration Pool
Balance); 
 (vii) minus an amount equal to the decrease, if any, in the Required Class E Invested Amount as a result
of a change in the Subordination Factor since the Distribution Date immediately preceding such date; 

  
 10 

 (viii) plus the amount of any Available Series Interest Collections
treated as Additional Available Series Principal Collections on such date to ensure that the Class E Invested Amount as of such date is not less than the Required Class E Invested Amount pursuant to Section 4.04(a)(ix); 

(ix) minus the aggregate amount of any principal payments made to the Class E Noteholders since the Distribution Date
immediately preceding such date; 
 provided, however, that in no event shall the Class E Invested Amount as of any date be more than the
Required Class E Invested Amount as of such date; provided that the Depositor may at any time and from time to time increase the Class E Invested Amount by allocating a portion of the Nonoverconcentration Certificate Interest thereto; provided such
increase shall not cause the Required Nonoverconcentration Pool Balance to exceed the Nonoverconcentration Pool Balance or cause the Nonoverconcentration Certificate Amount to be less than the Required Nonoverconcentration Certificate Amount.
Notwithstanding the foregoing, the Depositor shall not be permitted to increase the Class E Invested Amount without satisfaction of the Series 2014-5 Rating Agency Condition with respect to each Class of Series 2014-5 Notes in connection therewith
if such increase would result in the aggregate amount of all such increases, together with all amounts resulting from a discretionary increase in the Series 2014-5 Subordination Factor and the Reserve Fund, exceeding 5.0% of the Note Principal
Balance as of the date of such increase. 
 Class E Note: Any one of the Series 2014-5 Asset Backed Equity Notes, Class E executed by
the Issuing Entity and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A. 
 Class E
Note Initial Principal Balance: $174,496,879. 
 Class E Note Principal Balance: As of any date, the Class E Note Initial
Principal Balance, minus the aggregate amount of any principal payments made to the Class E Noteholders before such date; provided, however, that the Depositor, at any time and from time to time, may (A) in connection with an
increase in the Class E Invested Amount increase the Class E Note Principal Balance, but not in excess of the increase in the Class E Invested Amount or (B) decrease the Class E Note Principal Balance upon satisfaction of the Series 2014-5
Rating Agency Condition and obtaining written consent of all of the Class E Noteholders. 
 Class E Noteholder: The Person in whose
name a Class E Note is registered in the Note Register. 
 Closing Date: November 12, 2014. 

Consent Rating Agency: Has the meaning set forth in the Ratings Free Writing Prospectus. 

  
 11 

 Controlled Accumulation Amount: The result of (a) the Note Principal Balance as of
the last day of the Revolving Period (less the aggregate amount, if any, already on deposit in the Note Distribution Account and the Note Defeasance Account to pay principal of the Series 2014-5 Notes as of the close of business on the last day of
the Revolving Period) divided by (b) the number of months in the Controlled Accumulation Period. 
 Controlled Accumulation
Period: Unless an Early Amortization Event has occurred prior thereto, the period beginning on the first day of the April 2017 Collection Period or such later date as is determined in accordance with Section 4.04(h) and ending on the
earlier to occur of (a) the close of business on the day immediately preceding the commencement of the Early Amortization Period and (b) the end of the Collection Period immediately preceding the Distribution Date on which the Note
Principal Balance shall be paid in full. 
 Controlled Deposit Amount: For any Collection Period with respect to the Controlled
Accumulation Period, an amount equal to the sum of (a) the Controlled Accumulation Amount for such Collection Period and (b) any Deficit Controlled Accumulation Amount for the immediately preceding Collection Period. 

Covered Amount: As of any Distribution Date on which the Servicer calculates the Accumulation Period Reserve Draw Amount pursuant to
Section 4.13(c), an amount equal to the product of (a) (i) the actual number of days in the related Collection Period divided by (ii) 360, times, (b) the product of (i) the aggregate amount on deposit in the Note
Distribution Account and the Note Defeasance Account being accumulated to pay the principal on the Series 2014-5 Notes as of the immediately preceding Distribution Date (excluding amounts representing Investment Proceeds and after giving effect to
any deposit or withdrawals therein on such preceding Distribution Date), times (ii) 0.0% (or a lower percentage upon satisfaction of the Series 2014-5 Rating Agency Condition with respect to the Series 2014-5 Notes). 

Deficit Controlled Accumulation Amount: (a) for the Collection Period immediately preceding the Controlled Accumulation Period,
zero, and (b) for any Collection Period in the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such Collection Period over the aggregate amount deposited into the Note Distribution Account or the Note
Defeasance Account with respect to such Collection Period. 
 Determination Date: The tenth day of each calendar month, or if such
tenth day is not a Business Day, the next succeeding Business Day. 
 Distribution Date: December 15, 2014, and the 15th day of
each calendar month thereafter, or if such 15th day is not a Business Day, the next succeeding Business Day. 
 Early Amortization
Period: The period beginning on the first day on which an Early Amortization Event with respect to Series 2014-5 occurs and ending on the earlier to occur of (a) the end of the Collection Period immediately preceding the Distribution Date
on which the Note Principal Balance shall be paid in full and (b) the Series 2014-5 Legal Maturity Date. 

  
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 Excess Interest Collections: With respect to Series 2014-5, the meaning specified in
Section 4.07. 
 FATCA: Sections 1471 through 1474 of the Code (or any amended or successor version) and any current or
future regulations or official interpretations thereof. 
 FATCA Withholding Tax: Any withholding or deduction pursuant to an
agreement described in Section 1471(b) of the Code or otherwise imposed pursuant to FATCA. 
 Fixed Series Percentage: With
respect to any date, the percentage equivalent (not to exceed 100%) of a fraction (a) the numerator of which is the Net Invested Amount as of such date or, if the Revolving Period is no longer in effect, as of the close of business on the last
day of the Revolving Period and (b) the denominator of which is the greater of (i) the Adjusted Nonoverconcentration Pool Balance as of the close of business on the last day of the immediately preceding Collection Period (or, in the case
of the first Collection Period, the Closing Date) and (ii) the sum of the numerators used to calculate the applicable fixed series percentages for allocating Nonoverconcentration Principal Collections to all outstanding Series (including Series
2014-5) with respect to such date. 
 Floating Series Percentage: With respect to any Collection Period, the percentage equivalent
(not to exceed 100%) of a fraction (a) the numerator of which is the Average Net Invested Amount for that Collection Period and (b) the denominator of which is the greater of (i) the average of the Adjusted Nonoverconcentration Pool
Balance for each day during such Collection Period and (ii) the sum of the numerators used to calculate the applicable floating series percentages for allocating Nonoverconcentration Interest Collections to all outstanding Series (including
Series 2014-5) with respect to such Collection Period. 
 Indenture: The Indenture, dated as of February 12, 2010, between the
Issuing Entity and the Indenture Trustee, as the same may be amended, supplemented or otherwise modified from time to time. 
 Indenture
Supplement: This Series 2014-5 Indenture Supplement, as the same may be amended, supplemented or otherwise modified from time to time. 

Initial Invested Amount: With respect to the Series 2014-5 Notes, the Initial Note Principal Balance. 

Initial Note Principal Balance: The sum of (a) the Class A Note Initial Principal Balance, plus (b) the Class B Note
Initial Principal Balance, plus (c) the Class C Note Initial Principal Balance, plus (d) the Class D Note Initial Principal Balance, plus (e) the Class E Note Initial Principal Balance. 

Insolvency Event of Default: With respect to the Series 2014-5, any Event of Default specified in Sections 6.02(e) or
(f). 

  
 13 

 Interest Collections Shortfall: Has, with respect to Series 2014-5, the meaning specified
in Section 4.07. 
 Interest Period: With respect to any Distribution Date, the period from and including the
Distribution Date immediately preceding such Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date) to but excluding such Distribution Date. 

Invested Amount: The sum of the Investor Invested Amount and the Class E Invested Amount. 

Investor Invested Amount: As of any date, the sum of the Class A Invested Amount, the Class B Invested Amount, the Class C
Invested Amount and the Class D Invested Amount, in each case, as of such date. 
 Investor Note Principal Balance: As of any date of
determination, the sum of the Class A Note Principal Balance, the Class B Note Principal Balance, the Class C Note Principal Balance and the Class D Note Principal Balance, in each case, as of such date. 

Investor Notes: The Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes. 

LIBOR: With respect to any Interest Period, the London interbank offered rate for one-month United States dollar deposits determined by
the Indenture Trustee for such Interest Period pursuant to Section 4.12. 
 LIBOR Determination Date: With respect to any
Interest Period, the second London Business Day before the commencement of such Interest Period. 
 London Business Day: Any day
other than a Saturday, Sunday or any other day on which banks in London are required or authorized to be closed for business. 
 Majority
of Manufacturers: Two or more Manufacturers that the aggregate amount of all Eligible Principal Receivables held by the Issuing Entity as of that date for which the related Vehicle Collateral Security is a Vehicle manufactured by one of those
Manufacturers is 50.0% or more of the Pool Balance. 
 Monthly Back-up Servicing Fee: With
respect to any Distribution Date on which the Back-up Servicing Agreement is in effect, an amount equal to the greater of (a) one-twelfth (or, with respect to the
first Distribution Date, 30/360) of the product of (i) the Back-up Servicing Fee Rate, (ii) the Floating Series Percentage for the related Collection Period and (iii) the Nonoverconcentration
Pool Balance as of the close of business on the last day of the immediately preceding Collection Period and (b) $4,000. 
 Monthly
Interest: With respect to any Distribution Date, the sum of (a) the Class A Monthly Interest for such Distribution Date, plus (b) the Class B Monthly Interest for such Distribution Date, plus (c) the Class C Monthly Interest
for such Distribution Date, plus (d) the Class D Monthly Interest for such Distribution Date. 

  
 14 

 Monthly Nonoverconcentration Defaulted Amount: With respect to any Collection Period, the
aggregate of Nonoverconcentration Defaulted Amounts for each day in that Collection Period. 
 Monthly Payment Rate: For any
Collection Period, the percentage equivalent of a fraction (a) the numerator of which is the Principal Collections for such Collection Period with respect to Principal Receivables arising under the Scheduled Accounts and (b) the
denominator of which is the average daily aggregate principal balance of all Principal Receivables arising under the Scheduled Accounts during such Collection Period. 

Monthly Principal Amount: With respect to any Collection Period, the aggregate amount required to be deposited into the Note
Distribution Account or the Note Defeasance Account with respect to that Collection Period in respect of the Series 2014-5 Notes as determined pursuant to Section 4.03. 

Monthly Servicing Fee: With respect to any Distribution Date, an amount equal to one-twelfth
(or, with respect to the first Distribution Date, 30/360) of the product of (a) the Servicing Fee Rate, (b) the Floating Series Percentage for the related Collection Period and (c) the Nonoverconcentration Pool Balance as of the close
of business on the last day of the immediately preceding Collection Period. 
 Monthly Statement: Has the meaning specified in
Section 5.03(b). 
 Net Invested Amount: With respect to the Series 2014-5 Notes as of any date of determination, the sum
of (a) the Net Investor Invested Amount as of such date and (b) the excess, if any, of (i) the Class E Invested Amount as of such date over (ii) the sum of (1) the Note Distribution Account Amount allocated to pay principal
of the Class E Notes, if any, on such date and (2) the amount on deposit in the Note Defeasance Account (excluding amounts representing Investment Proceeds) on that date allocated to pay principal of the Class E Notes, if any, on such date.

 Net Investor Invested Amount: With respect to the Investor Notes as of any date of determination, the excess, if any, of
(i) the Investor Invested Amount as of such date over (ii) the sum of (1) Note Distribution Account Amount allocated to pay principal of the Investor Notes, if any, on such date and (2) the amount on deposit in the Note
Defeasance Account (excluding amounts representing Investment Proceeds) on that date allocated to pay principal of the Investor Notes, if any, on such date. 

Note Defeasance Account: Has the meaning specified in Section 4.15(a). 

Note Distribution Account: Has the meaning specified in Section 4.10(a). 

  
 15 

 Note Distribution Account Amount: On any date, an amount equal to the sum of (a) the
amount on deposit in the Note Distribution Account (excluding amounts representing Investment Proceeds) on that date and (b) the aggregate amount of outstanding Permitted Delayed Remittances with respect to the Note Distribution Account. 

Note Principal Balance: As of any date of determination, the sum of the Investor Note Principal Balance on such date and the Class E
Note Principal Balance on such date. 
 Noteholder FATCA Information: With respect to any Noteholder or holder of an interest in a
Note, information sufficient to eliminate the imposition of, or determine the amount of, U.S. withholding tax under FATCA. 
 Noteholder
Tax Identification Information: With respect to any Noteholder or holder of an interest in a Note, properly completed and signed tax certifications (generally, in the case of U.S. Federal Income Tax, IRS Form W-9 (or applicable successor form)
in the case of a person that is a “United States Person” within the meaning of Section 7701(a)(30) of the Code or the appropriate IRS Form W-8 (or applicable successor form) in the case of a person that is not a “United States
Person” within the meaning of Section 7701(a)(30) of the Code). 
 Notice Rating Agency: Has the meaning set forth in the
Ratings Free Writing Prospectus. 
 Principal Sharing Group One: Series 2014-5 and each other Series specified in the related
Indenture Supplements to be included in Principal Sharing Group One. 
 Principal Shortfall: With respect to Series 2014-5, the
meaning specified in Section 4.08. 
 Rating Agency: Has the meaning set forth in the Ratings Free Writing Prospectus.

 Ratings Free Writing Prospectus: The issuer free writing prospectus, as defined in Rule 433 of the Securities Act, filed by the
Depositor on November 3, 2014, relating to the Series 2014-5 Notes. 
 Reallocated Principal Collections: With respect to any
Distribution Date, the amounts applied in accordance with Section 4.06 in an amount not to exceed: 
 (a) with
respect to amounts to be applied to pay Monthly Servicing Fees, Monthly Back-up Servicing Fees, and Class A Monthly Interest, the sum of the Class A Invested Amount, the Class B Invested Amount,
Class C Invested Amount, Class D Invested Amount and Class E Invested Amount for that Distribution Date (in each case, after giving effect to any change in that amount on that date); 

(b) with respect to amounts to be applied to pay Class B Monthly Interest, the sum of the Class B Invested Amount, the Class C
Invested Amount, the Class D Invested Amount and the Class E Invested Amount (in each case, after giving effect to any change in that amount on that date, including clause (a) above); 

  
 16 

 (c) with respect to amounts to be applied to pay Class C Monthly Interest, the
sum of the Class C Invested Amount, the Class D Invested Amount and the Class E Invested Amount (in each case, after giving effect to any change in that amount on that date, including clauses (a) and (b) above); and 

(d) with respect to amounts to be applied to pay Class D Monthly Interest, the sum of the Class D Invested Amount and the Class
E Invested Amount (in each case, after giving effect to any change in that amount on that date, including clauses (a), (b) and (c) above). 

Reassignment Amount: With respect to any Distribution Date, after giving effect to any deposits and distributions otherwise to be made
on such Distribution Date, the sum of (a) the Note Principal Balance on such Distribution Date, plus (b) the Monthly Interest for such Distribution Date, together with any Monthly Interest previously due but not paid to the Series 2014-5
Noteholders on prior Distribution Dates. 
 Required Accumulation Factor Number: A fraction, rounded upwards to the nearest whole
number, the numerator of which is one and the denominator of which is equal to the lowest Monthly Payment Rate on the Accounts, expressed as a decimal, for the 12 months preceding the date of such calculation; provided, however, that
this definition may be changed at any time upon receipt by the Indenture Trustee of an Officer’s Certificate from the Servicer that such change shall not have an Adverse Effect. 

Required Class E Invested Amount: As of any Distribution Date, the product of (i) the Subordination Percentage and (ii) the
excess, if any, of (A) (1) with respect to any Distribution Date occurring during the Controlled Accumulation Period or the Early Amortization Period, the Net Investor Invested Amount as of the last day of the Revolving Period, and
(2) with respect to any Distribution Date occurring during the Revolving Period, the Net Investor Invested Amount as of such Distribution Date, over (B) the Series 2014-5 Excess Funding Amount on such date (after giving effect to any
changes in such amount on such date). 
 Required Pool Percentage: 100%, except that the Depositor may reduce this percentage so long
as the Series 2014-5 Rating Agency Condition is satisfied with respect to the Series 2014-5 Notes, but without the consent of any Noteholder or any other Person. 

Reserve Fund: Has the meaning specified in Section 4.11(a). 

Reserve Fund Available Amount: With respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Fund
on such date (excluding any Investment Proceeds on amounts on deposit therein and before giving effect to any (i) deposit made or to be made therein pursuant to Section 4.04(a) on such date or (ii) any withdrawal made or to be
made therefrom pursuant to Section 4.04(b)(ii) on such date) and (b) the Reserve Fund Required Amount for such Distribution Date. 

  
 17 

 Reserve Fund Deposit Amount: With respect to any Distribution Date, the excess, if any, of
(a) the Reserve Fund Required Amount for such Distribution Date, over (b) the Reserve Fund Available Amount for such Distribution Date. 

Reserve Fund Initial Amount: $13,442,819. 

Reserve Fund Required Amount: With respect to any Distribution Date, an amount equal to the product of Reserve Fund Required Percentage
and the Invested Amount as of such Distribution Date (after giving effect to any changes therein on such Distribution Date); provided, however, that the Depositor may, in its discretion, increase or, upon satisfaction of the Series
2014-5 Rating Agency Condition, decrease the Reserve Fund Required Amount. Notwithstanding the foregoing, the Depositor shall not be permitted to increase the Reserve Fund Required Amount in its discretion without satisfaction of the Series 2014-5
Rating Agency Condition if such increase would result in the aggregate amount of all such increases, together with all amounts added to the Class E Invested Amount and all amount resulting from a discretionary increase in the Class E Invested Amount
or in the Subordination Factor, exceeding 5.0% of the Note Principal Balance as of the date of such increase. 
 Reserve Fund Required
Percentage: As of any date, 1.00%; provided, however, that in the event the Subordination Factor would otherwise be required to increase as a result of a decrease in the Monthly Payment Rate in accordance with the definition of Subordination
Factor, the Depositor may by delivering an Officer’s Certificate to the Indenture Trustee and the Rating Agencies prior to the date such increase was to become effective, elect to increase the Reserve Fund Required Percentage in an amount in
percentage points equal to (i) an additional 2.20% rather than increasing the Subordination Factor by 2.57% pursuant to clause (i) of the first proviso of the definition of Subordination Factor, (ii) an additional 2.40% rather than
increasing the Subordination Factor by 2.80% pursuant to clause (ii) of the first proviso of the definition of Subordination Factor or (iii) an additional 2.65% rather than increasing the Subordination Factor by 3.10% pursuant to clause
(iii) of the first proviso of the definition of Subordination Factor. In the event that the Depositor shall elect to so increase the Reserve Fund Required Percentage rather than the Subordination Factor, any increase in the Monthly Payment Rate
that otherwise would have resulted in a decrease in the Subordination Factor will alternatively result in corresponding decrease in the Reserve Fund Required Percentage to the extent that the Reserve Fund Required Percentage had been increased
rather than making the corresponding increase in the Subordination Factor. The election of the Depositor to increase the Reserve Fund Required Percentage rather than increasing the Subordination Factor shall be deemed not to be a discretionary
increase. 
 Reserve Fund Trigger Amount: As of any date, an amount equal to the product of 1.00% and the Invested Amount on such
date (after giving effect to any changes therein on such date); provided, however, that, if the Reserve Fund Required Amount has been increased solely as a result of the decrease in the Three Month Average Payment Rate, then with respect to that
Distribution Date and each Distribution Date thereafter until the amount on deposit in the Reserve Fund equals the Reserve Fund Required Amount, the Reserve Fund Trigger Amount will equal $0. 

  
 18 

 Revolving Period: The period beginning on the Closing Date and ending on the earlier of
the close of business on the day immediately preceding the date on which the Controlled Accumulation Period or the Early Amortization Period commences. 

Series 2014-5: The Series of Notes, the Principal Terms of which are specified in this Indenture Supplement. 

Series 2014-5 Early Amortization Event: Has the meaning specified in Section 6.01. 

Series 2014-5 Excess Funding Amount: As of any date of determination, the product of (a) the amount on deposit in the Excess
Funding Account (excluding amounts representing Investment Proceeds) on such date, times (b) a fraction (i) the numerator of which is the Net Invested Amount as of such date and (ii) the denominator of which is the sum of the net
invested amounts of each outstanding Nonoverconcentration Series (including Series 2014-5) being allocated a portion of the funds on deposit in the Excess Funding Account. 

Series 2014-5 Event of Default: Has the meaning specified in Section 6.02. 

Series 2014-5 Expected Maturity Date: The October 2017 Distribution Date. 

Series 2014-5 Insolvency Event of Default: The Series 2014-5 Events of Default set forth in clauses (e) or
(f) of Section 6.02. 
 Series 2014-5 Issuing Entity Insolvency Event of Default: The Series 2014-5 Event of
Default set forth in clause (f) of Section 6.02. 
 Series 2014-5 Legal Maturity Date: The October
2019 Distribution Date. 
 Series 2014-5 Note: A Class A Note, a Class B Note, a Class C Note, a Class D Note or a Class E Note.

 Series 2014-5 Noteholder: A Class A Noteholder, a Class B Noteholder, a Class C Noteholder, a Class D Noteholder or a
Class E Noteholder. 
 Series 2014-5 Noteholders’ Collateral: The Noteholders’ Collateral for the Series 2014-5. 

Series 2014-5 Private Notes: The Series 2014-5 Class B Notes, the Series 2014-5 Class C Notes, the Series 2014-5 Class D Notes and the
Series 2014-5 Class E Notes. 
 Series 2014-5 Rating Agency Condition: The condition that each of the Consent Rating Agencies with
respect to the Series 2014-5 Notes shall have notified the Depositor, the Servicer and the Issuing Entity in writing that such action shall not result in a downgrade, suspension or withdrawal of the then current rating of the Series 2014-5 Notes
then rated by such Rating Agency; provided, however, that with respect to each Notice Rating Agency, it shall be sufficient that such Notice Rating Agency shall be given prior written notice thereof. 

  
 19 

 Series Accounts: With respect to Series 2014-5, the Note Distribution Account, the Note
Defeasance Account, the Reserve Fund and the Accumulation Period Reserve Account. 
 Series
Charge-Offs: Has the meaning specified in Section 4.05. 
 Series Collateral:
Has the meaning specified in the granting clauses of this Indenture Supplement. 
 Series Cut-Off
Date: The close of business on October 31, 2014. 
 Series Defaulted Amount: With respect to any Distribution Date, the
amount of the Nonoverconcentration Defaulted Amount for the related Collection Period allocated to the Series 2014-5 pursuant to Section 4.01(d). 

Series Defaulted Percentage: With respect to any Collection Period, the Floating Series Percentage. 

Series Interest Collections: With respect to any Distribution Date, the amount of Nonoverconcentration Interest Collections for the
related Collection Period (and, in the case of the initial Distribution Date, the prior Collection Period) allocated to the Series 2014-5 pursuant to Section 4.01(b). 

Series Interest Percentage: With respect to any Collection Period, the Floating Series Percentage. 

Series Principal Collections: With respect to any date, the amount of the Nonoverconcentration Principal Collections for that date
allocated to the Series 2014-5 pursuant to Section 4.01(c). 
 Series Principal Percentage: For any date, the Fixed
Series Percentage. 
 Series Required Certificate Amount: On any date, the product of (a) the excess, if any, of (i) the
Required Pool Percentage over (ii) 100% and (b) the Net Invested Amount on that date. 
 Shared Principal Collections: With
respect to Series 2014-5, has the meaning specified in Section 4.08. 
 Significant Manufacturer: As of any date, a
Manufacturer that the aggregate amount of all Eligible Principal Receivables held by the Issuing Entity as of that date for which the related Vehicle Collateral Security is a Vehicle manufacturer by such Manufacturer is 35.0% (or, in the case of
Chrysler, 25.0%) or more of the Pool Balance. 

  
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 Special Pass-Through Entity: A grantor trust, S
corporation, or partnership where more than 50% of the value of a beneficial owner’s interest in such pass through entity is attributable to the pass-through entity’s interest in the Class B Note,
Class C Note, and/or Class D Note, as applicable. 
 Subordination Factor: As of any date, 13.00%; provided, however,
that if on any Distribution Date, the Three Month Average Payment Rate is (i) less than 25.00% but greater than or equal to 22.50%, (ii) less than 22.50% but greater than or equal to 20.00%, or (iii) less than 20.00%, then on the next
Distribution Date, the Subordination Factor shall be increased by (i) 2.57% over what it would have been had the Three Month Average Payment Rate been greater than or equal to 25.00%, (ii) 2.80% over what it would have been had the Three
Month Average Payment Rate been less than 25.00% but greater than or equal to 22.50%, or (iii) 3.10% over what it would have been had the Three Month Average Payment Rate been less than 22.50% but greater that or equal 20.00%, respectively;
provided, however, that if after any such increase in the Subordination Factor, on any Distribution Date the Three Month Average Payment Rate as of such Distribution Date is, and the Three Month Average Payment Date with respect to
each of the two prior Distribution Dates was, (i) greater than or equal to 20.00% but less than 22.50%, (ii) greater than or equal to 22.50% but less than 25.00% or (iii) greater than or equal to 25.00%, then on the next Distribution
Date, the Subordination Factor shall be decreased by (i) 3.10% over what it would have been had the Three Month Average Payment Rate been less than 20.00%, (ii) 2.80% over what it would have been had the Three Month Average Payment Rate
been less than 22.50% but greater than or equal to 20.00% or (iii) 2.57% over what it would have been had the Three Month Average Payment Rate been less than 25.00% but greater than or equal to 22.50%, respectively; provided,
further, that the Depositor may, by delivering an Officer’s Certificate to the Indenture Trustee and the Rating Agencies prior to the date such increase was to become effective, elect to increase the Reserve Fund Required Percentage by
an additional amount in percentage points equal to 2.20%, 2.40%, or 2.65%, as applicable, pursuant to the proviso in the definition of “Reserve Fund Required Percentage” rather than increasing the Subordination Factor by an additional
2.57%, 2.80%, or 3.10%, respectively. In addition, the Depositor may (a) in its discretion increase the Subordination Factor, increasing the Subordination Percentage and thereby increasing the Class E Invested Amount and the Class E Principal
Amount by an amount equal to the product of (i) the increase in the Subordination Percentage and (ii) the excess, if any, of (A) the Net Invested Amount over (B) the Series 2014-5 Excess Funding Amount on such date (after giving
effect to any changes in such amount on such date); provided such increase shall not cause the Required Nonoverconcentration Pool Balance to exceed the Nonoverconcentration Pool Balance or cause the Nonoverconcentration Certificate Amount to be less
than the Required Nonoverconcentration Certificate Amount or (b) upon satisfaction of the Series 2014-5 Rating Agency Condition with respect to each Class of Series 2014-5 Notes in connection therewith, decrease the Subordination Factor, with
corresponding decreases in the Subordination Percentage, the Class E Invested Amount and the Class E Principal Amount. Notwithstanding the foregoing, the Depositor shall not be permitted to increase the Subordination Factor in its discretion without
satisfaction of the Series 2014-5 Rating Agency Condition with respect to each Class of Series 2014-5 Notes in 

  
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connection therewith if such increase would result in the aggregate amount of all such increases, together with discretionary increases in the Class E Invested Amount and the Reserve Fund,
exceeding 5.0% of the Note Principal Balance as of the date of such increase. 
 Subordination Percentage: As of any date, an amount
(expressed as a percentage) equal to (a) the Subordination Factor divided by (b) the result of 100% minus the Subordination Factor. 

Three Month Average Payment Rate: As of any Distribution Date, the arithmetic average of the Monthly Payment Rate determined with
respect to each of the three Collection Periods immediately preceding such Distribution Date. 
 SECTION 2.02 Other Definitional
Provisions. 
 (a) Certain capitalized terms used but not otherwise defined in this Indenture Supplement shall have the respective
meanings assigned to them in Part I of the Appendix A to the Trust Sale and Servicing Agreement, dated as of February 12, 2010 (the “Trust Sale and Servicing Agreement”), among Ally Master Owner Trust, Ally
Wholesale Enterprises LLC, Ally Bank, and Ally Financial Inc. (formerly GMAC Inc.) (including any successors or assigns thereto, “Ally Financial”), as amended, supplemented, restated or otherwise modified from time to time. 

(b) All references herein to “this Indenture Supplement” are to this Indenture Supplement as it may be amended, supplemented or
modified from time to time, and all references herein to Articles, Sections, subsections and exhibits are to Articles, Sections, subsections and exhibits of this Indenture Supplement unless otherwise specified. 

(c) All terms defined in this Indenture Supplement shall have the defined meanings when used in any certificate, notice, Note or other
document made or delivered pursuant hereto unless otherwise defined therein. 
 (d) The rules of construction set forth in Part II of
Appendix A to the Trust Sale and Servicing Agreement shall be applicable to this Indenture Supplement. 
 ARTICLE III 

SERVICING FEE 

SECTION 3.01 Servicing Compensation. 

The share of the Servicing Fee and the Back-up Servicing Fee, respectively, allocable to the Series
2014-5 Noteholders with respect to any Distribution Date is equal to the Monthly Servicing Fee and the Monthly Back-up Servicing Fee, respectively. The portion of the Servicing Fee and Back-up Servicing Fee that is not allocable to the Series 2014-5 Noteholders shall be paid by the holders of the Certificate Interest or the Noteholders of other Series (as provided in the related Indenture
Supplements) and in no event shall the Issuing Entity, the Indenture Trustee or the Series 2014-5 Noteholders be liable for the share of the Servicing Fee or the Back-up Servicing Fee to be paid by the holders
of the Certificate Interest or the Noteholders of any other Series. 

  
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 ARTICLE IV 

RIGHTS AND OBLIGATIONS OF SERIES 2014-5 NOTEHOLDERS 

AND ALLOCATION AND APPLICATION OF COLLECTIONS 

SECTION 4.01 Collections and Allocations. 

(a) Allocations to Series 2014-5. As provided in Section 8.4(a) of the Indenture, Nonoverconcentration Interest Collections,
Nonoverconcentration Principal Collections and Nonoverconcentration Defaulted Amounts shall be allocated to Series 2014-5 and then applied in accordance with this Article IV. No Overconcentration Interest Collections, Overconcentration
Principal Collections or Overconcentration Defaulted Amounts shall be allocated to the Series 2014-5. 
 (b) On each Determination Date
beginning on the Determination Date in December 2014, the Servicer shall allocate to the Series 2014-5 an amount of Nonoverconcentration Interest Collections for the related Collection Period (and, in the case of the initial Distribution Date, the
prior Collection Period) equal to the product of (i) the Series Interest Percentage for the related Collection Period, and (ii) the Nonoverconcentration Interest Collections for such Collection Period; provided, however, that
for purposes of calculating the Series Interest Percentage for this Section 4.01(b), the Series 2014-5 Notes shall be deemed to have been outstanding since the Series Cut-Off Date. 

(c) On each Business Day beginning on the Closing Date, the Servicer shall allocate to the Series 2014-5 an amount of Nonoverconcentration
Principal Collections for that date equal to the product of (i) the Series Principal Percentage for that date and (ii) the Nonoverconcentration Principal Collections for such that date. 

(d) On each Determination Date beginning on the Determination Date in December 2014, the Servicer shall allocate to the Series 2014-5 an
amount of the Nonoverconcentration Defaulted Amount for the related Collection Period equal to the product of (i) the Series Defaulted Percentage for the related Collection Period and (ii) the Monthly Nonoverconcentration Defaulted Amount
for the related Collection Period. 
 SECTION 4.02 Determination of Monthly Interest. 

(a) The amount of monthly interest due with respect to the Class A-1 Notes for any Distribution Date and the related Interest Period (the
“Class A-1 Monthly Interest”) shall be calculated by the Servicer and shall be an amount equal to the product of (i) a fraction, the numerator of which is the actual number of days in the related Interest Period and the
denominator of which is 360, times (ii) the Class A-1 Note Interest Rate, times (iii) the Average Class A-1 Note Principal Balance for the related Interest Period. 

  
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 (b) The amount of monthly interest due with respect to the Class A-2 Notes for any
Distribution Date and the related Interest Period (the “Class A-2 Monthly Interest”) shall be calculated by the Servicer and shall be an amount equal to the product of (i) one-twelfth (or, in the case of the December 2014
Distribution Date, a fraction, the numerator of which is 33 and the denominator of which is 360), times (ii) the Class A-2 Note Interest Rate, times (iii) the Average Class A-2 Note Principal Balance for the related Interest
Period. 
 (c) The amount of monthly interest due with respect to the Class B Notes for any Distribution Date and the related Interest
Period (the “Class B Monthly Interest”) shall be calculated by the Servicer and shall be an amount equal to the product of (i) one-twelfth (or, in the case of the December 2014 Distribution Date, a fraction, the numerator of
which is 33 and the denominator of which is 360), times (ii) the Class B Note Interest Rate, times (iii) the Average Class B Note Principal Balance for the related Interest Period. 

(d) The amount of monthly interest due with respect to the Class C Notes for any Distribution Date and the related Interest Period (the
“Class C Monthly Interest”) shall be calculated by the Servicer and shall be an amount equal to the product of (i) one-twelfth (or, in the case of the December 2014 Distribution Date, a fraction, the numerator of which is 33
and the denominator of which is 360), times (ii) the Class C Note Interest Rate, times (iii) the Average Class C Note Principal Balance for the related Interest Period. 

(e) The amount of monthly interest due with respect to the Class D Notes for any Distribution Date and the related Interest Period (the
“Class D Monthly Interest”) shall be calculated by the Servicer and shall be an amount equal to the product of (i) one-twelfth (or, in the case of the December 2014 Distribution Date, a fraction, the numerator of which is 33
and the denominator of which is 360), times (ii) the Class D Note Interest Rate, times (iii) the Average Class D Note Principal Balance for the related Interest Period. 

SECTION 4.03 Determination of Monthly Principal Amount. 

The aggregate amount of monthly principal to be deposited into the Note Defeasance Account or the Note Distribution Account with respect to any
Collection Period in the Controlled Accumulation Period or, if earlier, any Collection Period or portion thereof in the Early Amortization Period (the “Monthly Principal Amount”), shall be equal to the least of (a) the sum of
(i) the Available Series Principal Collections for each Business Day during such Collection Period, (ii) Additional Available Series Principal Collections for the related Distribution Date and (iii) any Series 2014-5 Excess Funding
Amount with respect to such period, (b) for each Collection Period with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Collection Period, and (c) the Net Invested Amount (after taking into account any
adjustments to be made on the related Distribution Date pursuant to Sections 4.05 and 4.06).  

  
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 SECTION 4.04 Application of Available Funds on Deposit in Note Defeasance Account,
Collection Account and Other Sources. 
 (a) On each Distribution Date, the Servicer shall apply, or direct the Indenture Trustee to
apply by written instruction to the Indenture Trustee, Available Series Interest Collections with respect to such Distribution Date, (x) on deposit in the Collection Account, and (y) solely to make the allocations, distributions or
deposits specified in clauses (ii) through (v) below, in the manner and order set forth therein, on deposit in the Note Defeasance Account (excluding amounts representing Investment Proceeds), in the following priority: 

(i) first, an amount equal to the Monthly Servicing Fee for such Distribution Date, together with any Monthly Servicing Fees
previously due but not paid to the Servicer on prior Distribution Dates, shall be distributed to the Servicer (unless such amount has been netted against deposits into the Collection Account in accordance with Section 8.4 of the
Indenture); second, pro rata, an amount equal to the accrued and unpaid fees, expenses and indemnities owed to the Indenture Trustee, the Owner Trustee, the Administrator and any other fees or expenses of the Issuing Entity payable by the Servicer
or the Administrator (to the extent not paid by the Servicer or the Administrator) shall be distributed to the Indenture Trustee, the Owner Trustee, the Administrator, or the Person to whom such payment is owed, as applicable, provided that
the amount distributed pursuant to this clause second shall not exceed $150,000 in any calendar year; third, an amount equal to the Monthly Back-up Servicing Fee for such Distribution Date, together with any
Monthly Back-up Servicing Fees previously due but not paid to the Back-up Servicer on prior Distribution Dates, shall be distributed to the Back-up Servicer; 
 (ii) an amount equal to the Class A Monthly Interest for such
Distribution Date, together with any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates, shall be allocated and set aside from such funds in the Note Defeasance Account and, to the
extent such funds are not sufficient, the remainder shall be deposited into the Note Distribution Account from the Collection Account, for payment to the Class A Noteholders, pro rata, between the Class A-1 Noteholders and the
Class A-2 Noteholders; 
 (iii) an amount equal to the Class B Monthly Interest for such Distribution Date, together
with any Class B Monthly Interest previously due but not paid to the Class B Noteholders on prior Distribution Dates, shall be allocated and set aside from such funds in the Note Defeasance Account and, to the extent such funds are not sufficient,
the remainder shall be deposited into the Note Distribution Account from the Collection Account, for payment to the Class B Noteholders; 

(iv) an amount equal to the Class C Monthly Interest for such Distribution Date, together with any Class C Monthly Interest
previously due but not paid to the Class C Noteholders on prior Distribution Dates, shall be allocated and set aside from such funds in the Note Defeasance Account and, to the extent such funds are not sufficient, the remainder shall be deposited
into the Note Distribution Account from the Collection Account, for payment to the Class C Noteholders; 

  
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 (v) an amount equal to the Class D Monthly Interest for such Distribution Date,
together with any Class D Monthly Interest previously due but not paid to the Class D Noteholders on prior Distribution Dates, shall be allocated and set aside from such funds in the Note Defeasance Account and, to the extent such funds are not
sufficient, the remainder shall be deposited into the Note Distribution Account from the Collection Account, for payment to the Class D Noteholders; 

(vi) an amount equal to the Series Defaulted Amount for such Distribution Date shall be treated as Additional Available Series
Principal Collections for such Distribution Date; 
 (vii) an amount equal to the sum of Series Charge-Offs that have not been previously reimbursed shall be treated as Additional Available Series Principal Collections for such Distribution Date; 

(viii) the amount equal to the sum of Reallocated Principal Collections that have not been previously reimbursed shall be
treated as Additional Available Series Principal Collections for such Distribution Date; 
 (ix) the amount necessary to
cause the Class E Invested Amount to not be less than the Required Class E Invested Amount shall be treated as Additional Available Series Principal Collections for such Distribution Date; 

(x) an amount equal to the Reserve Fund Deposit Amount for such Distribution Date shall be deposited into the Reserve Fund;

 (xi) beginning on the Accumulation Period Reserve Account Funding Date, an amount equal to the Accumulation Period Reserve
Account Deposit Amount for such Distribution Date shall be deposited into the Accumulation Period Reserve Account; 
 (xii)
the amount required to repay the Servicer for all outstanding Servicer Advances made in respect of the Series 2014-5 Notes shall be distributed to the Servicer (unless such amount has been netted against deposits into the Collection Account in
accordance with Section 8.4 of the Indenture); 
 (xiii) pro rata, the amounts required to pay any remaining
fees, expenses, indemnities or other amounts required to be paid pursuant to clause second of subsection (i) above but not paid as a result of the proviso thereto, the amount required to reimburse the
Back-up Servicer for all unpaid Servicer Transition Costs in excess of the amounts reimbursed by funds from the Servicer Termination Costs Reserve Account and the amount required to reimburse the Back-up Servicer for all unpaid amounts due to the Back-up Servicer pursuant to the Back-up Servicing Agreement shall be distributed to
the applicable person; 

  
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 (xiv) an amount equal to the Interest Collections Shortfalls for other
outstanding Series in Excess Interest Sharing Group One shall be treated as Excess Interest Collections available from Series 2014-5 and applied to cover the Interest Collections Shortfalls for other outstanding Series in Excess Interest Sharing
Group One; and 
 (xv) all remaining Available Series Interest Collections for such Distribution Date shall be deposited in
the Certificate Distribution Account for distribution to the holders of the Certificate in accordance with the Trust Agreement (unless such amount has been netted against deposits into the Collection Account in accordance with
Section 8.4 of the Indenture), but only to the extent that such remaining amount is not otherwise required to be deposited into the Excess Funding Account or the Cash Collateral Account pursuant to Section 8.3 of the
Indenture. 
 (b) If Available Series Interest Collections with respect to any Distribution Date are insufficient to distribute or deposit
the full amounts required under Section 4.04(a), the Servicer shall apply, or direct the Indenture Trustee to apply by written instructions to the Indenture Trustee, on such Distribution Date available funds from the following sources in
the following order to make up any such shortfalls to the extent provided below: 
 (i) first, from Excess Interest
Collections available from other outstanding Series in Excess Interest Sharing Group One, but only to cover shortfalls in the distributions and deposits required under clauses (i) through (xii) of Section 4.04(a)
in that order; 
 (ii) second, from the Reserve Fund Available Amount, but only to cover shortfalls in the distributions and
deposits required under clauses (i) through (viii) of Section 4.04(a) in that order; 

(iii) third, from the Reallocated Principal Collections for such Distribution Date, but only to cover shortfalls in the
distributions required under clauses (i) through (v) of Section 4.04(a) in that order; and 

(iv) fourth, from the Servicer to the extent that the Servicer, in its sole discretion, decides to make an advance, but only to
cover shortfalls in the distributions and deposits required under clauses (i) through (xi) of Section 4.04(a) in that order, and only to the extent that the Servicer expects to recover such advances (each, a
“Servicer Advance”) pursuant to Section 4.04(a)(xii) on subsequent Distribution Dates. 
 (c) On each Business
Day with respect to the Revolving Period, the Servicer shall apply, or direct the Indenture Trustee to apply by written instruction to the Indenture Trustee, Available Series Principal Collections for such date as Shared Principal Collections with
respect to Principal Sharing Group One and applied in accordance with Section 4.08 hereof and Section 8.5(c) of the Indenture. 

  
 27 

 (d) On each Business Day with respect to the Controlled Accumulation Period, the Servicer shall
apply, or direct the Indenture Trustee to apply by written instruction to the Indenture Trustee, Available Series Principal Collections for such date to make the following distributions or deposits in the following priority: 

(i) first, an amount equal to the excess, if any, of (A) the Monthly Principal Amount for the related Collection Period
over (B) the amount previously deposited during that Collection Period for the payment of principal to the Noteholders shall be deposited into the Note Distribution Account or, if elected pursuant to Section 4.04(k), the Note
Defeasance Account, for payment of principal to the Noteholders; and 
 (ii) second, any remaining amounts shall be treated
as Shared Principal Collections with respect to Principal Sharing Group One and applied in accordance with Section 4.08 hereof and Section 8.5(c) of the Indenture. 

(e) On each Business Day with respect to the Early Amortization Period, the Servicer shall apply, or direct the Indenture Trustee to apply by
written instruction to the Indenture Trustee, Available Series Principal Collections for such date to make the following distributions or deposits in the following priority: 

(i) first, the amount necessary to reduce the Note Principal Balance to zero, but not more than the amount that would reduce
the Invested Amount to zero, shall be deposited into the Note Distribution Account or, if elected pursuant to Section 4.04(k), the Note Defeasance Account, for payment of principal to the Noteholders in accordance with
Section 5.02(b); and 
 (ii) second, any remaining amounts shall be treated as Shared Principal Collections with
respect to Principal Sharing Group One and applied in accordance with Section 4.08 hereof and Section 8.5(c) of the Indenture. 

(f) On each Distribution Date, the Servicer shall apply, or direct the Indenture Trustee to apply by written instructions to the Indenture
Trustee, Additional Available Series Principal Collections, if any, (i) first, to make the applications of Additional Available Series Principal Collections required pursuant to Section 4.06, (ii) second, to make the deposits
and distributions required to be made during the related Collection Period pursuant to Sections 4.04(c), (d) and (e) that have not otherwise been made as of such Distribution Date, and (iii) third, any remaining
Additional Available Series Principal Collections shall be treated as Available Series Principal Collections for such date. 
 (g) On the
first Business Day of the earlier to occur of the Controlled Accumulation Period and the Early Amortization Period, the Indenture Trustee, acting in accordance with written instructions from the Servicer, shall withdraw from the Excess Funding
Account and apply in accordance with Sections 4.04(d) or (e), as applicable, an amount equal to the lesser of (i) the Series 2014-5 Excess Funding Amount for such date and (ii) the amount required to be deposited or
distributed on that date pursuant to Section 4.04(d)(i) or 4.04(e)(i), as applicable that was not previously deposited or distributed on that date. 

  
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 (h) The Controlled Accumulation Period is scheduled to commence on the first day of the April
2017 Collection Period; provided, however, that, if the Accumulation Period Length (determined as described below) is less than six Collection Periods, the date on which the Controlled Accumulation Period actually commences shall be
delayed to the first day of the Collection Period that is the number of whole Collection Periods before the Series 2014-5 Expected Maturity Date at least equal to the Accumulation Period Length and, as a result, the number of Collection Periods in
the Controlled Accumulation Period shall at least equal the Accumulation Period Length. On or before each Determination Date beginning with the Determination Date in the March 2017 Collection Period and ending when the Controlled Accumulation Period
begins, the Servicer shall determine the “Accumulation Period Length” as of such Determination Date, which shall equal the number of whole Collection Periods such that the sum of the Accumulation Period Factors for each Collection
Period during such period shall be equal to or greater than the Required Accumulation Factor Number; provided, however, that the Accumulation Period Length shall not be determined to be less than one Collection Period. If the number of
whole Collection Periods remaining after such Determination Date and before the Series 2014-5 Expected Maturity Date is less than or equal to the Accumulation Period Length calculated as of such Determination Date, the Controlled Accumulation Period
shall commence on the first day of the following Collection Period; provided, however, if such number of Collection Periods is greater than such Accumulation Period Length, the commencement of the Controlled Accumulation Period shall
be delayed until at least the next Determination Date, at which time the Accumulation Period Length shall be recalculated as described above. 

(i) All distributions that are deposited by the Indenture Trustee into the Certificate Distribution Account for distribution to the holders of
the Certificate pursuant to this Indenture Supplement shall be made in accordance with such written remittance instructions as may be provided to the Indenture Trustee by the Depositor from time to time. 

(j) Notwithstanding any other provision of this Indenture Supplement or the Indenture, if any amount is required to be deposited into any
Series Account or other account pursuant to this Indenture Supplement and all or part of the amount of such deposit is to be deposited into another account or otherwise distributed on that date, such amount may be deposited directly into the
applicable subsequent account or distributed directly to the applicable recipient without first being deposited into the initial Series Account or account. 

(k) Note Defeasance Account. With respect to each Collection Period, no later than 10:00 am Central time on any Business Day of such
Collection Period, including pursuant to Section 4.04(d) and (e), the Servicer, at the direction of the Depositor, shall and, the Servicer may (if Ally Financial or an Affiliate of Ally Financial is the Servicer), in its
discretion, specify to the Indenture Trustee an amount of Available Series Interest Collections and Available Series Principal Collections to be withdrawn from the Collection Account or, with respect to any amounts on deposit in the Note
Distribution Account constituting Available Series Principal Collections, the Note Distribution Account, and deposited into the Note Defeasance Account. With respect to any Collection Period, the aggregate of such amounts deposited into the Note
Defeasance Account, as reasonably calculated by the Servicer (i) with respect to each Collection Period (or portion thereof) that does not occur during a Controlled Accumulation Period or Early Amortization Period, shall not be in excess of the
lesser of (1) Available Series Interest 

  
 29 

 
Collections for such Collection Period plus Reallocated Principal Collections for the related Distribution Date less the Monthly Servicing Fee for such Collection Period and (2) the
aggregate amount necessary to make the allocations and distributions required by clauses (ii) through (v) of Section 4.04(a) and (ii) with respect to each Collection Period (or portion thereof) that occurs during a
Controlled Accumulation Period or Early Amortization Period, shall not be in excess of the lesser of (1) the aggregate of the Available Series Interest Collections for such Collection Period, plus the Available Series Principal Collections for
such Collection Period, less the Monthly Servicing Fee for such Collection Period and (2) the aggregate amount necessary to make the allocations and distributions required by (x) clauses (ii) through (v) of
Section 4.04(a) and (y) Section 4.04(d) or 4.04(e), as applicable, during such Collection Period. The Servicer shall not have any liability for any such calculation made in good faith. Any amount on deposit in the
Note Defeasance Account on any Distribution Date (after giving effect to all deposits therein or withdrawals therefrom on such Distribution Date) shall remain on deposit in the Note Defeasance Account for distribution on the next Distribution Date
in accordance with this Indenture Supplement. 
 (l) No later than 10:00 am Central time on each Business Day on which amounts are to be
withdrawn from the Collection Account or the Note Distribution Account and deposited into the Note Defeasance Account pursuant to Section 4.04(k), the Servicer shall notify the Indenture Trustee of the sources and amounts to be deposited
in the Note Defeasance Account on such Business Day and the Indenture Trustee shall transfer such amount from the Collection Account or the Note Distribution Account, as applicable, to the Note Defeasance Account. 

(m) If an increase in the Subordination Factor is to occur on the next Distribution Date, the Required Nonoverconcentration Pool Balance for
purposes of Section 8.3 of the Indenture as of such Distribution Date and on each subsequent date until the Distribution Date on which such increase takes effect shall be calculated as if the increase in the Subordination Factor has
already occurred. 
 SECTION 4.05 Series Charge-Offs. 

(a) On each Determination Date, the Servicer shall calculate the Series Defaulted Amount, if any, for the related Distribution Date. If the
Series Defaulted Amount for any Distribution Date exceeds the sum of: 
 (i) the Available Series Interest Collections for
such Distribution Date applied to fund such Series Defaulted Amount pursuant to Section 4.04(a)(vi); 
 (ii) the
Excess Interest Collections available from other outstanding Series in Excess Interest Sharing Group One for such Distribution Date applied to fund such Series Defaulted Amount pursuant to Section 4.04(a)(vi) in accordance with
Section 4.04(b)(i); 
 (iii) the Reserve Fund Available Amount for such Distribution Date applied to fund such
Series Defaulted Amount pursuant to Section 4.04(a)(vi) in accordance with Section 4.04(b)(ii) (after giving effect to the application of such amounts to items (i) through (v) in Section 4.04(a)); and;

  
 30 

 (iv) the amount of Servicer Advances for such Distribution Date applied to fund
such Series Defaulted Amount pursuant to Section 4.04(a)(vi) in accordance with Section 4.04(b)(iv); 
 then, a “Series Charge-Off” in the amount of such excess shall exist for such Distribution Date and shall reduce the Invested Amount. 

(b) The reduction in the Invested Amount for such Distribution Date due to such Series Charge-Off
shall be allocated as follows: 
 (i) first, the Class E Invested Amount shall be reduced by the amount of such reduction
until the Class E Invested Amount is reduced to zero; then 
 (ii) second, the Class D Invested Amount shall be reduced by
any remaining amount until the Class D Invested Amount is reduced to zero; then 
 (iii) third, the Class C Invested Amount
shall be reduced by any remaining amount until the Class C Invested Amount is reduced to zero; then 
 (iv) fourth, the Class
B Invested Amount shall be reduced by any remaining amount until the Class B Invested Amount is reduced to zero; and then 

(v) fifth, the Class A Invested Amount shall be reduced, pro rata between the Class A-1 Notes and the Class A-2
Notes, by any remaining amount until the Class A Invested Amount is reduced to zero. 
 SECTION 4.06 Reallocated Principal
Collections. 
 On each Distribution Date, the Servicer shall apply, or direct the Indenture Trustee by written instruction to the
Indenture Trustee to apply the portion of Reallocated Principal Collections specified in Section 4.04(b)(iii) from the following sources and in the following order of priority, (i) first, Additional Available Series Principal
Collections for that Distribution Date available in accordance with Section 4.04(f), (ii) second, Series Principal Collections for that date, (iii) third, amounts on deposit in the Note Defeasance Account (to the extent such
funds are used to cover shortfalls in the distributions required under clauses (ii) through (v) of Section 4.04(a)), and (iv) fourth, amounts on deposit in the Note Distribution Account for the payment of principal (first
for the Class E Notes, then for the Class D Notes, then for the Class C Notes, then for the Class B Notes and then for the Class A Notes), but not in excess of the amounts specified in the definition of “Reallocated Principal
Collections,” in accordance with Section 4.04(b)(iii). If, on any Distribution Date, Reallocated Principal Collections for such Distribution Date are so applied, then, the Invested Amount shall be reduced by the amount of such
application and, if such amounts are from withdrawals from the Note Distribution Account or the Note Defeasance Account, those amounts shall be deemed not to have been allocated or deposited into the Note Distribution Account or the Note Defeasance
Account, as applicable, for purposes of this Indenture Supplement. The reduction in the Invested Amount for such 

  
 31 

 
Distribution Date due to the application of such Reallocated Principal Collections shall be allocated as follows: 

(a) first, the Class E Invested Amount shall be reduced by the amount of such reduction until the Class E Invested Amount is reduced to zero;
then 
 (b) second, the Class D Invested Amount shall be reduced by any remaining amount until the Class D Invested Amount is reduced to
zero; then 
 (c) third, the Class C Invested Amount shall be reduced by any remaining amount until the Class C Invested Amount is reduced
to zero; then 
 (d) fourth, the Class B Invested Amount shall be reduced by any remaining amount until the Class B Invested Amount is
reduced to zero; and then 
 (e) fifth, the Class A Invested Amount shall be reduced, pro rata between the Class A-1 Notes and the
Class A-2 Notes, by any remaining amount until the Class A Invested Amount is reduced to zero. 
 SECTION 4.07 Excess
Interest Collections. 
 Subject to Section 8.05(b) of the Indenture, Excess Interest Collections with respect to the Excess
Interest Sharing Series in Excess Interest Sharing Group One for any Distribution Date shall be allocated to Series 2014-5 in an amount equal to the product of (i) the aggregate amount of Excess Interest Collections with respect to all the
Excess Interest Sharing Series in Excess Interest Sharing Group One for such Distribution Date and (ii) a fraction, the numerator of which is the Interest Collections Shortfall for Series 2014-5 for such Distribution Date and the denominator of
which is the aggregate amount of Interest Collections Shortfalls for all the Excess Interest Sharing Series in Excess Interest Sharing Group One for such Distribution Date. The “Interest Collections Shortfall” for Series 2014-5 for
any Distribution Date shall equal the excess, if any, of (a) the full amount required to be paid, without duplication, pursuant to clauses (i) through (xii) of Section 4.04(a) on such Distribution Date, over
(b) the Available Series Interest Collections for such Distribution Date. The maximum amount of “Excess Interest Collections” with respect to Series 2014-5 for any Distribution Date available for other Series in Excess Sharing
Group One shall equal the excess, if any, of (a) the Available Series Interest Collections for such Distribution Date over (b) the full amount required to be distributed, without duplication, pursuant to clauses (i) through
(xii) of Section 4.04(a) on such Distribution Date. 
 SECTION 4.08 Shared Principal Collections. 

Subject to Section 8.5(c) of the Indenture, the aggregate amount of Shared Principal Collections with respect to the Principal
Sharing Series in Principal Sharing Group One for any date shall be allocated to Series 2014-5 in an amount equal to the product of (i) the aggregate amount of Shared Principal Collections, times (ii) a fraction, the numerator of which is
the Principal Shortfall for Series 2014-5 for such date and the denominator of which is the aggregate 

  
 32 

 
amount of Principal Shortfalls for all the Principal Sharing Series in Principal Sharing Group One for such date. The “Principal Shortfall” for Series 2014-5 shall equal
(a) for any date in the Revolving Period, zero, (b) for any date in the Controlled Accumulation Period, the amount to be deposited or distributed pursuant to Sections 4.04(d) over the amount previously deposited or distributed
pursuant to that subsection, and (c) for any date in the Early Amortization Period, the amount to be deposited or distributed pursuant to Section 4.04(e) over the amount previously deposited or distributed pursuant to that
subsection. The “Shared Principal Collections” with respect to Series 2014-5 for any date shall equal the excess, if any, of (a) the Available Series Principal Collections for such date (without giving effect to clause
(ii) of the definition thereof) over (b) the full amount required to be deposited or distributed, without duplication, pursuant to Sections 4.04(c), (d) or (e) on such date. 

SECTION 4.09 Reinstatement of Invested Amount. 

(a) The Invested Amount shall be reinstated on any Distribution Date by the amount of any Available Series Interest Collections that are
applied pursuant to Section 4.04(a)(vi), (vii), (viii) and (ix). This amount shall be applied as follows: 

(i) first, if the Class A Invested Amount has been reduced pursuant to Sections 4.05 or 4.06, to the
Class A Invested Amount, pro rata between the Class A-1 Notes and the Class A-2 Notes, until it equals the Class A Note Principal Balance minus the aggregate amount on deposit in the Note Distribution Account and the Note
Defeasance Account (excluding, in each case, amounts representing Investment Proceeds) allocated to it; then 
 (ii) second,
if the Class B Invested Amount has been reduced pursuant to Sections 4.05 or 4.06, to the Class B Invested Amount until it equals the Class B Note Principal Balance minus the aggregate amount on deposit in the Note Distribution Account
and the Note Defeasance Account (excluding amounts representing Investment Proceeds) allocated to it; then 
 (iii) third, if
the Class C Invested Amount has been reduced pursuant to Sections 4.05 or 4.06, to the Class C Invested Amount until it equals the Class C Note Principal Balance minus the aggregate amount on deposit in the Note Distribution Account
and the Note Defeasance Account (excluding, in each case, amounts representing Investment Proceeds) allocated to it; then 

(iv) fourth, if the Class D Invested Amount has been reduced pursuant to Sections 4.05 or 4.06, to the Class D
Invested Amount until it equals the Class D Note Principal Balance minus the aggregate amount on deposit in the Note Distribution Account and the Note Defeasance Account (excluding, in each case, amounts representing Investment Proceeds) allocated
to it; and then 

  
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 (v) fifth, if the Class E Invested Amount has been reduced pursuant to
Sections 4.05 or 4.06, to the Class E Invested Amount until it equals the Required Class E Invested Amount. 

SECTION 4.10 Note Distribution Account. 

(a) The Servicer, for the benefit of the Noteholders, shall establish and maintain with the Indenture Trustee in the name of the Indenture
Trustee, on behalf of the Issuing Entity, an Eligible Deposit Account (including any subaccounts thereof) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Noteholders (the
“Note Distribution Account”). The Indenture Trustee shall possess all right, title and interest in all Eligible Investments and all monies, cash, instruments, securities, securities entitlements, documents, certificates of deposit
and other property from time to time on deposit in or credited to the Note Distribution Account and in all Investment Proceeds with respect thereto (including any accrued discount realized on liquidation of any investment purchased at a discount)
for the benefit of the Noteholders. Except as expressly provided in this Indenture Supplement and the Trust Sale and Servicing Agreement, the Servicer agrees that it has no right of setoff or banker’s lien against, and no right to otherwise
deduct from, any funds and other property held in the Note Distribution Account for any amount owed to it by the Indenture Trustee, the Issuing Entity, any Noteholder or any Series Enhancer. The Indenture Trustee, at the written direction of the
Servicer, shall make deposits and withdrawals from the Note Distribution Account from time to time, in the amounts and for the purposes set forth in this Indenture Supplement. 

(b) Funds on deposit in the Note Distribution Account shall, at the written direction of the Servicer, be invested by the Indenture Trustee
(including the Securities Intermediary) in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Indenture Trustee or its nominee for the benefit of the Noteholders. The Indenture Trustee shall cause each
Eligible Investment to be delivered to it (including a securities intermediary) and shall be credited to the Note Distribution Account. Funds on deposit in the Note Distribution Account shall be invested in Eligible Investments. On each Distribution
Date, all Investment Proceeds on deposit in the Note Distribution Account shall be treated as Available Series Interest Collections with respect to the related Collection Period. The Indenture Trustee shall bear no responsibility or liability for
any losses resulting from investment or reinvestment of any funds in accordance with this Section 4.10(b) nor for the selection of Eligible Investments in accordance with the provisions of this Indenture Supplement, the Indenture or the
Trust Sale and Servicing Agreement. 
 SECTION 4.11 Reserve Fund. 

(a) The Servicer, for the benefit of the Series 2014-5 Noteholders, shall establish and maintain with the Indenture Trustee or its nominee in
the name of the Indenture Trustee, on behalf of the Issuing Entity, an Eligible Deposit Account (including any subaccounts thereof) bearing a designation clearly indicating that the funds and other property credited thereto are

  
 34 

 
held for the benefit of the Series 2014-5 Noteholders (the “Reserve Fund”). The Indenture Trustee shall possess all right, title and interest in all Eligible Investments and all
monies, cash, instruments, securities, securities entitlements, documents, certificates of deposit and other property from time to time on deposit in or credited to the Reserve Fund and in all interest, proceeds, earnings, income, revenue, dividends
and other distributions thereof (including any accrued discount realized on liquidation of any investment purchased at a discount) for the benefit of the Series 2014-5 Noteholders. Except as expressly provided in this Indenture Supplement and the
Trust Sale and Servicing Agreement, the Servicer agrees that it has no right of setoff or banker’s lien against, and no right to otherwise deduct from, any funds and other property held in the Reserve Fund for any amount owed to it by the
Indenture Trustee, the Issuing Entity, any Noteholder or any Series Enhancer. The Indenture Trustee, at the written direction of the Servicer, shall make deposits to and withdrawals from the Reserve Fund from time to time in the amounts and for the
purposes set forth in this Indenture Supplement. 
 (b) Funds on deposit in the Reserve Fund shall, at the written direction of the
Servicer, be invested by the Indenture Trustee or its nominee (including the Securities Intermediary) in Eligible Investments. All such Eligible Investments shall be held by the Indenture Trustee or its nominee for the benefit of the Series 2014-5
Noteholders. The Indenture Trustee shall cause each Eligible Investment to be delivered to it or its nominee (including a securities intermediary) and shall be credited to the Reserve Fund. Funds on deposit in the Reserve Fund shall be invested in
Eligible Investments. On each Distribution Date, all Investment Proceeds on deposit in the Reserve Fund shall be treated as Available Series Interest Collections for such Distribution Date. The Indenture Trustee shall bear no responsibility or
liability for any losses resulting from investment or reinvestment of any funds in accordance with this Section 4.11(b) nor for the selection of Eligible Investments in accordance with the provisions of this Indenture Supplement, the
Indenture or the Trust Sale and Servicing Agreement. 
 (c) The Reserve Fund initially shall be funded by the Depositor on the Closing Date
in the amount of the Reserve Fund Initial Amount. After the Closing Date, funds shall be deposited into the Reserve Fund as provided in Section 4.04(a)(x). The Depositor may at any time and from time to time make additional deposits into
the Reserve Fund; provided, however, the Depositor shall not be permitted to make any such discretionary deposit without satisfaction of the Series 2014-5 Rating Agency Condition with respect to each Class of Series 2014-5 Notes in
connection therewith if such deposit, together with any discretionary increases in the Subordination Factor and the Class E Invested Amount, would result in the aggregate amount of all such deposits and increases exceeding 5.0% of the Note Principal
Balance as of the date of such deposit. 
 (d) If on any Distribution Date, after giving effect to all withdrawals from and deposits to the
Reserve Fund, the amount on deposit in the Reserve Fund (excluding amounts representing Investment Proceeds) exceeds the Reserve Fund Required Amount then in effect, the Indenture Trustee shall, at the written direction of the Servicer, distribute
such excess to the Owner Trustee for distribution to the holders of the Certificate Interest in accordance with the Trust Agreement. 

  
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 (e) Upon the earlier to occur of the date on which the Series 2014-5 Notes are paid in full and
the Series 2014-5 Legal Maturity Date, any funds remaining in the Reserve Fund, after giving effect to any deposits and withdrawals made therefrom on such date, shall be treated as Additional Available Series Principal Collections. The Reserve Fund
shall thereafter be deemed to have terminated for purposes of this Indenture Supplement. 
 SECTION 4.12 Determination of LIBOR.

 (a) On each LIBOR Determination Date, the Indenture Trustee shall determine LIBOR on the basis of the rate for deposits in United States
dollars for a one-month period which appears on Bloomberg Screen BTMM Page under the heading “LIBOR FIX BBAM” as of 11:00 a.m., London time, on such date. If such rate does not appear on such page
(or such other page as may replace that page on that service, or if such service is no longer offered, such other service for displaying LIBOR or comparable rates as may be selected by the Indenture Trustee after consultation with the Depositor),
the rate shall be the One Month Reference Bank Rate. The “One Month Reference Bank Rate” shall be determined on the basis of the rates at which deposits in U.S. dollars are offered by the reference banks (which shall be four major
banks that are engaged in transactions in the London interbank market, selected by the Indenture Trustee after consultation with the Depositor) as of 11:00 a.m., London time, on the applicable LIBOR Determination Date to prime banks in the London
interbank market for a period of one month commencing on such preceding Distribution Date in amounts approximately equal to the principal balance of the Series 2014-5 Notes. The Indenture Trustee shall request the principal London office of each of
the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate shall be the arithmetic mean of the quotations, rounded upwards to the nearest one-sixteenth of
one percent. If on any such date fewer than two quotations are provided as requested, the rate shall be the arithmetic mean, rounded upwards to the nearest one-sixteenth of one percent, of the rates quoted by
one or more major banks in New York, selected by the Indenture Trustee after consultation with the Depositor, as of 11:00 a.m., New York time, on such date to leading European banks for U.S. dollar deposits for a period of one month commencing on
such applicable date in amounts approximately equal to the then outstanding principal balance of the Series 2014-5 Notes. If no such quotation can be obtained, the rate shall be LIBOR for the prior Distribution Date. 

(b) On each LIBOR Determination Date, the Indenture Trustee shall send to the Servicer, the Issuing Entity and the Administrator by facsimile
or email transmission, notification of LIBOR for the following Interest Period. 
 (c) The Servicer shall provide, in the Monthly Statement,
the Class A-1 Note Interest Rate, the Class A-2 Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D Note Interest Rate applicable to each Distribution Date. 

  
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 (d) Other than the determination of LIBOR as provided for herein, all other determinations and
calculations provided for in this Indenture Supplement shall be made by the Servicer. 
 SECTION 4.13 Accumulation Period Reserve
Account. 
 (a) If the Accumulation Period Reserve Account Required Amount is greater than zero ($0), the Servicer, for the benefit of
the Noteholders, shall establish and maintain with the Indenture Trustee or its nominee in the name of the Indenture Trustee, on behalf of the Issuing Entity, an Eligible Deposit Account (including any subaccounts thereof) bearing a designation
clearly indicating that the funds and other property credited thereto are held for the benefit of the Noteholders (the “Accumulation Period Reserve Account”). The Indenture Trustee shall possess all right, title and interest in all
Eligible Investments and all monies, cash, instruments, securities, securities entitlements, documents, certificates of deposit and other property from time to time on deposit in or credited to the Accumulation Period Reserve Account and in all
Investment Proceeds with respect thereto (including any accrued discount realized on liquidation of any investment purchased at a discount) for the benefit of the Noteholders. Except as expressly provided in this Indenture Supplement and the Trust
Sale and Servicing Agreement, the Servicer agrees that it has no right of setoff or banker’s lien against, and no right to otherwise deduct from, any funds and other property held in the Accumulation Period Reserve Account for any amount owed
to it by the Indenture Trustee, the Issuing Entity, any Noteholder or any Series Enhancer. The Indenture Trustee, at the direction of the Servicer, shall make deposits and withdrawals from the Accumulation Period Reserve Account from time to time,
in the amounts and for the purposes set forth in this Indenture Supplement. 
 (b) Funds on deposit in the Accumulation Period Reserve
Account shall, at the written direction of the Servicer, be invested by the Indenture Trustee (including the Securities Intermediary) in Eligible Investments selected by the Servicer. All such Eligible Investments shall be held by the Indenture
Trustee or its nominee for the benefit of the Noteholders. The Indenture Trustee shall cause each Eligible Investment to be delivered to it (including a securities intermediary) and shall be credited to the Accumulation Period Reserve Account. Funds
on deposit in the Accumulation Period Reserve Account shall be invested in Eligible Investments. On each Distribution Date, all Investment Proceeds on deposit in the Accumulation Period Reserve Account shall be treated as Available Series Interest
Collections with respect to the related Collection Period. The Indenture Trustee shall bear no responsibility or liability for any losses resulting from investment or reinvestment of any funds in accordance with this Section 4.13(b) nor
for the selection of Eligible Investments in accordance with the provisions of this Indenture Supplement, the Indenture or the Trust Sale and Servicing Agreement. 

(c) On or before each Distribution Date with respect to the Controlled Accumulation Period and on or before the first Distribution Date with
respect to the Early Amortization Period beginning after the commencement of the Controlled Accumulation Period, the Servicer shall calculate the Accumulation Period Reserve Draw Amount; provided, however, that such amount shall be
reduced to the extent that funds otherwise would be available for deposit into the 

  
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Accumulation Period Reserve Account pursuant to Sections 4.04(a)(xi) and Section 4.04(b)(i) on such Distribution Date. If for any Distribution Date, the Accumulation Period
Reserve Draw Amount is greater than zero, the Accumulation Period Reserve Draw Amount, up to the Available Accumulation Period Reserve Account Amount, shall be withdrawn from the Accumulation Period Reserve Account on such Distribution Date by the
Indenture Trustee (acting in accordance with the written instructions of the Servicer) and deposited into the Collection Account for application as Available Series Interest Collections. 

(d) If on any Distribution Date, after giving effect to all withdrawals from and deposits to the Accumulation Period Reserve Account, the
amount on deposit in the Accumulation Period Reserve Account exceeds the Accumulation Period Reserve Account Required Amount then in effect, the Indenture Trustee shall, at the written direction of the Servicer, distribute such excess to the Owner
Trustee for distribution to the holders of the Certificate Interest in accordance with the Trust Agreement. 
 (e) Upon the earliest to
occur of (i) the payment in full of the Series 2014-5 Notes, (ii) the first Distribution Date relating to the Early Amortization Period and (iii) the Series 2014-5 Legal Maturity Date, any funds remaining in the Accumulation Period
Reserve Account, after withdrawal of funds therefrom on such date in accordance with Section 4.13(c), shall be treated as Available Series Interest Collections. The Accumulation Period Reserve Account shall thereafter be deemed to have
terminated for purposes of this Indenture Supplement. 
 SECTION 4.14 Transfer Restrictions. 

(a) The Class E Notes (or interests therein) may not be acquired by or for the account of (i) a Benefit Plan other than an insurance
company general account (as defined in Prohibited Transaction Class Exemption (“PTCE”) 95-60) whose underlying assets include less than 25% “plan assets” and for which the purchase and
holding of the Class E Notes is eligible for and satisfied all conditions for relief under PTCE 95-60 or (ii) an employee benefit plan or plan that is not subject to the provisions of Title I of ERISA or
Section 4975 of the Code if such acquisition would result in a non-exempt prohibited transaction under, or a non-exempt violation of, any applicable law that is
substantially similar to Title I of ERISA or Section 4975 of the Code. By accepting and holding a Class E Note (or interest therein), the Holder thereof and any related Note Owner shall each be deemed to have represented and warranted that it
is not, nor is it acquiring the Note for the account of either, (i) a Benefit Plan other than an insurance company general account (as defined in Prohibited Transaction Class Exemption (“PTCE”)
95-60) whose underlying assets include less than 25% “plan assets” and for which the purchase and holding of the Class E Notes is eligible for and satisfied all conditions for relief under PTCE 95-60 or (ii) an employee benefit plan or plan that is not subject to the provisions of Title I of ERISA or Section 4975 of the Code if such acquisition would result in a
non-exempt prohibited transaction under, or a non-exempt violation of, any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the
Code. By accepting and holding a Class A Note, Class B Note, Class C Note or Class D Note (or interest therein), the Holder thereof and any related Note Owner shall be deemed to have represented and warranted that either (i) it is not, nor
is it acquiring the Note 

  
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for the account of, a Benefit Plan or any other plan that is subject to any law that is substantially similar to Title I of ERISA or Section 4975 of the Code or (ii) the acquisition and
holding of the Note will not give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a non-exempt violation
of substantially similar law. In addition, Benefit Plans may not acquire (i) a Class A Note, Class B Note, Class C Note, or Class D Note at any time that such Note would not be treated as indebtedness without substantial equity features,
or (ii) a Class B Note, Class C Note or Class D Note at any time that the ratings on such Note are below investment grade. By accepting and holding a Class A Note, Class B Note, Class C Note or Class D Note (or interest therein), the
Holder thereof and any related Note Owner shall each be deemed to have represented and warranted that its acquisition of such note is in compliance with the foregoing restriction. 

(b) The Series 2014-5 Private Notes will not be registered under the Securities Act or the securities or blue sky laws of any other
jurisdiction. Consequently, the Series 2014-5 Private Notes are not transferable other than pursuant to an exemption from the registration requirements of the Securities Act and satisfaction of certain other provisions specified herein. No sale,
pledge or other transfer of the Series 2014-5 Private Notes (or interest therein) may be made by any Person unless either (i) such sale, pledge or other transfer is made to or by the Depositor, (ii) so long as the Series 2014-5 Private
Notes are eligible for resale pursuant to Rule 144A under the Securities Act, such sale, pledge or other transfer is made to a person whom the transferor “reasonably believes” within the meaning of Rule 144A under the Securities Act is a
“qualified institutional buyer” within the meaning of Rule 144A under the Securities Act (a “Qualified Institutional Buyer”) acting for its own account (and not for the account of others) or as a fiduciary or agent for
others (which others also are Qualified Institutional Buyers) to whom notice is given that the sale, pledge or transfer is being made in reliance on Rule 144A under the Securities Act, or (iii) such sale, pledge or other transfer is otherwise
made in a transaction exempt from the registration requirements of the Securities Act, in which case (A) the Indenture Trustee shall require that both the prospective transferor and the prospective transferee certify to the Indenture Trustee
and the Depositor in writing the facts surrounding such transfer, which certification shall be in form and substance satisfactory to the Indenture Trustee and the Depositor, and (B) the Indenture Trustee shall require a written opinion of
counsel (which will not be at the expense of the Issuing Entity, the Seller, the Depositor, the Servicer or the Indenture Trustee) satisfactory to the Depositor and the Indenture Trustee to the effect that such transfer will not violate the
Securities Act. Neither the Depositor nor the Indenture Trustee shall be obligated to register the Series 2014-5 Private Notes under the Securities Act, qualify the Series 2014-5 Private Notes under the securities laws of any state or provide
registration rights to any purchaser or holder thereof. 
 (c) Transfer of a Class E Note may only be made to a Person who is a United
States Person (within the meaning of Section 7701(a)(30) of the Internal Revenue Code). Any Person acquiring a Class E Note or an interest therein (i) shall not be deemed to have made the representations set forth in
Section 2.14 of the Indenture and (ii) other than the Depositor shall not acquire or hold such Class E Note or interest therein in the form of a Book Entry Note. 

  
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 (d) No sale, pledge or other transfer may be made to any one person of a Class E Note with a face
amount of less than the amount determined in accordance with Section 1.01(E) hereof (in order to prevent the Issuing Entity from being treated as a “publicly traded partnership” under Section 7704 of the Code), and, in the
case of any Person acting on behalf of one or more third parties (other than a bank (as defined in Section 3(a)(2) of the Securities Act) acting in its fiduciary capacity), for a Class E Note with a face amount of less than such amount for each
such third party. Any attempted transfer in contravention of the immediately preceding restriction will be void ab initio and the purported transferor will continue to be treated as the owner of the Class E Notes for all purposes. No Class E
Note may be transferred unless the transferor provides to the Indenture Trustee an opinion of independent counsel that the transfer will not cause the Issuing Entity to be treated as an association (or publicly traded partnership) taxable as a
corporation for federal income tax purposes. 
 (e) (i) A sale, pledge, or transfer of a Class B Note, Class C Note or Class D Note may only
be made to a Person who is a United State Person (within the meaning of Section 7701(a)(30) of the Internal Revenue Code). A Person other than the Depositor acquiring a Class B Note, Class C Note or Class D Note or an interest therein shall be
deemed to have made the representations set forth in Section 2.14 of the Indenture; and (ii) no sale, pledge, or transfer of a Class B Note, Class C Note or Class D Note shall be made (x) to any one person with a face amount of
less than 100% of the Class B Note Principal Balance, Class C Note Principal Balance or Class D Note Principal Balance, as applicable, or (y) to a Special Pass-Through Entity, in each case, unless
(A) an opinion of counsel satisfactory to the Indenture Trustee and the Depositor that such sale, pledge, or transfer shall not cause the Issuing Entity to be treated as an association (or publicly traded partnership) taxable as a corporation
for federal income tax purposes shall have been delivered to the Indenture Trustee and the Depositor and (B) the Depositor shall have provided prior written approval; provided, however, that the restrictions in this
Section 4.14(e) shall not apply in the event counsel satisfactory to the Indenture Trustee and the Depositor has rendered an opinion to the effect that the Class B Note, Class C Note or Class D Note to be sold, pledged, or transferred
will be characterized as indebtedness for federal income tax purposes. Any attempted transfer in contravention of this Section 4.14(e) will be void ab initio and the purported transferor will continue to be treated as the owner
of, as applicable, the Class B Note, Class C Note or Class D Note for all purposes. 
 SECTION 4.15 Note Defeasance Account.

 (a) The Indenture Trustee, for the benefit of the Series 2014-5 Noteholders, shall establish and maintain in the name of the Indenture
Trustee, an Eligible Deposit Account (including any subaccounts thereof) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Series 2014-5 Noteholders (the “Note
Defeasance Account”). The Indenture Trustee shall possess all right, title and interest in all Eligible Investments and all monies, cash, instruments, securities, securities entitlements, documents, certificates of deposit and other
property from time to time on deposit in or credited to the Note Defeasance Account for the benefit of the Series 2014-5 Noteholders (other than 

  
 40 

 
Investment Proceeds, which shall be for the benefit of the Indenture Trustee). Except as expressly provided in this Indenture Supplement, the Servicer agrees that it has no right of setoff or
banker’s lien against, and no right to otherwise deduct from, any funds and other property held in the Note Defeasance Account for any amount owed to it by the Indenture Trustee, the Issuing Entity, any Noteholder or any Series Enhancer. The
Indenture Trustee, at the written direction of the Servicer, shall make deposits and withdrawals from the Note Defeasance Account from time to time, in the amounts and for the purposes set forth in this Indenture Supplement. 

(b) Funds on deposit in the Note Defeasance Account shall, at the direction or election of the Indenture Trustee, be invested by the Indenture
Trustee (including the Securities Intermediary) in Eligible Investments that mature prior to the next Distribution Date selected by the Indenture Trustee. All such Eligible Investments shall be held by the Indenture Trustee or its nominee for the
benefit of the Series 2014-5 Noteholders. The Indenture Trustee shall cause each Eligible Investment to be delivered to it (including a securities intermediary) and shall be credited to the Note Defeasance Account. Notwithstanding anything to the
contrary in the Indenture, the Indenture Trustee shall be entitled to receive all Investment Proceeds on the Note Defeasance Account when and as paid without any obligation to the Owner Trustee, the Servicer or the Depositor in respect thereof. The
Indenture Trustee will have no obligation to deposit any such amount in any account established hereunder or the Indenture. Notwithstanding Sections 6.1(f) and 8.3(f) of the Indenture, the Indenture Trustee shall be liable for any
investment losses with respect to funds on deposit in the Note Defeasance Account. 
 (c) All payments of amounts due and payable with
respect to any Notes that are to be made from amounts withdrawn from the Note Defeasance Account pursuant to this Indenture Supplement shall be made by the Indenture Trustee or by another Paying Agent from available funds on deposit in the Note
Defeasance Account. 
 (d) Upon the irrevocable deposit of any amount into the Note Defeasance Account pursuant to this Indenture
Supplement, the Issuing Entity shall have no further liability for, and shall be deemed to be discharged and released from its obligations with respect to, the Series 2014-5 Notes to the extent of the amount so deposited as such amounts are to be
applied to the payments of interest on and principal of the Series 2014-5 Notes in accordance with the priorities specified in this Indenture Supplement, and the Holders of the Series 2014-5 Notes shall have recourse and shall look solely to the
Note Defeasance Account for the payment of such amounts. 
 (e) All monies deposited with the Indenture Trustee in the Note Defeasance
Account pursuant to this Indenture Supplement shall be held in trust in a segregated trust account and (except for Investment Proceeds thereon) applied by the Indenture Trustee, in accordance with the provisions of the Series 2014-5 Notes and this
Indenture Supplement, to the payment, either directly or through any Paying Agent, as the Indenture Trustee may determine, to the Holders of Series 2014-5 Notes for payment on or redemption of the Series 2014-5 Notes, and no amounts so withdrawn
from the Note Defeasance Account for payments of Notes shall be paid over to the Issuing Entity. 

  
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 (f) The Indenture Trustee may, at such time as there are no Notes Outstanding, notify the Issuing
Entity thereof in writing and withdraw and retain any funds then on deposit in the Note Defeasance Account. 
 (g) Sections 8.3(f)
and (g) of the Indenture shall not apply to the Note Defeasance Account. 
 (h) The Note Defeasance Account shall constitute a
“Note Distribution Account” solely for purposes of Sections 2.7, 3.1, 3.3(b), and 10.1 of the Indenture. 

SECTION 4.16 FATCA. 

Each Noteholder or holder of an interest in a Note, by acceptance of such Note or such interest therein, agrees to provide to the Indenture
Trustee, any Paying Agent or the Issuing Entity, upon its request, the Noteholder Tax Identification Information and, to the extent FATCA Withholding Tax is applicable, the Noteholder FATCA Information. In addition, each Noteholder or holder of an
interest in a Note, by acceptance of such Note or such interest therein, agrees that the Indenture Trustee has the right to withhold any amounts of interest (properly withholdable under law and without any corresponding gross-up) payable to a
Noteholder or holder of an interest in a Note that fails to comply with the requirements of the preceding sentence. 
 ARTICLE V 

DELIVERY OF SERIES 2014-5 NOTES; 

DISTRIBUTIONS; REPORTS TO SERIES 2014-5 NOTEHOLDERS 

SECTION 5.01 Delivery and Payment for Series 2014-5 Notes. 

The Indenture Trustee shall authenticate the Series 2014-5 Notes in accordance with Section 2.2 of the Indenture. The Indenture
Trustee shall deliver the Series 2014-5 Notes to the Issuing Entity when so authenticated. 
 SECTION 5.02 Distributions. 

(a) On each Distribution Date, based solely on the information contained in the Monthly Statement, the Indenture Trustee shall distribute to
each Class A-1 Noteholder, Class A-2 Noteholder, Class B Noteholder, Class C Noteholder and Class D Noteholder of record on the related Record Date (other than as provided in Section 11.2 of the Indenture) such Class A-1
Noteholder’s, Class A-2 Noteholder’s, Class B Noteholder’s, Class C Noteholder’s and Class D Noteholder’s, respectively, pro rata share of the amounts allocated and available in the Note Distribution Account and the
Note Defeasance Account on such Distribution Date to pay interest on the Class A-1 Notes, the Class A-2 Notes, the Class B Notes, the Class C Notes and the Class D Notes, respectively, pursuant to this Indenture Supplement. 

(b) On the Series 2014-5 Expected Maturity Date and on each Distribution Date with respect to the Early Amortization Period, based solely on
the information contained in the Monthly Statement, from the amounts allocated during the related or any prior Collection 

  
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Period or, with respect to Additional Available Series Principal Collections, on such or any prior Distribution Date and available in the Note Distribution Account and the Note Defeasance Account
on such Distribution Date to pay principal of the Series 2014-5 Notes pursuant to this Indenture Supplement, the Indenture Trustee shall distribute: 

(i) first, pro rata to each Class A-1 Noteholder of record and each Class A-2 Noteholder of record, as applicable, on
the related Record Date (other than as provided in Section 11.2 of the Indenture), principal of the Class A Notes (allocated pro rata between the Class A-1 Notes and the Class A-2 Notes) until the Class A Notes have
been paid in full, 
 (ii) second, pro rata to each Class B Noteholder of record on the related Record Date (other than as
provided in Section 11.2 of the Indenture), principal of the Class B Notes until the Class B Notes have been paid in full, provided, however, that in no event shall any amount be paid as principal with respect to the Class
B Notes unless the Class A Principal Balance is zero, 
 (iii) third, pro rata to each Class C Noteholder of record on
the related Record Date (other than as provided in Section 11.2 of the Indenture), principal of the Class C Notes until the Class C Notes have been paid in full, provided, however, that in no event shall any amount be paid
as principal with respect to the Class C Notes unless the Class A Principal Balance and the Class B Principal Balance are zero, 

(iv) fourth, pro rata to each Class D Noteholder of record on the related Record Date (other than as provided in
Section 11.2 of the Indenture), principal of the Class D Notes until the Class D Notes have been paid in full, provided, however, that in no event shall any amount be paid as principal with respect to the Class D Notes
unless the Class A Principal Balance, the Class B Principal Balance and the Class C Principal Balance are zero, and 

(v) fifth, pro rata to each Class E Noteholder of record on the related Record Date (other than as provided in
Section 11.2 of the Indenture), principal of the Class E Notes until the Class E Notes have been paid in full, provided, however, that in no event shall any amount be paid as principal with respect to the Class E Notes
unless the Class A Principal Balance, the Class B Principal Balance, the Class C Principal Balance and the Class D Principal Balance are zero. 

(c) The distributions to be made pursuant to this Section are subject to the provisions of Sections 2.5 of the Trust Sale and Servicing
Agreement, Section 11.2 of the Indenture and Section 7.01 of this Indenture Supplement. 
 (d) Except as provided in
Section 11.2 of the Indenture with respect to a final distribution, distributions to Series 2014-5 Noteholders hereunder shall be made by (i) wire transfer (to the account specified by the applicable Noteholder) or check mailed
first class, postage prepaid to each Series 2014-5 Noteholder (at such Noteholder’s address as it appears in 

  
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the Note Register), except that with respect to any Series 2014-5 Notes registered in the name of the nominee of a Clearing Agency, such distribution shall be made in immediately available funds
and (ii) without presentation or surrender of any Series 2014-5 Note or the making of any notation thereon. 
 (e) The amount of all
distributions and deposits that are required to be made by the Indenture Trustee on each Distribution Date pursuant to this Section 5.02 shall be set forth in written instructions (which may be in the form of the Monthly Statement)
provided by the Servicer to the Indenture Trustee no later than the second Business Day prior to the related Distribution Date. 
 (f)
Except with respect to the reimbursement of investment losses pursuant to Section 4.15(b), the Indenture Trustee shall have no duty to make any deposits or distributions or any other payments under this Indenture Supplement unless and
until it has sufficient cash to make such payments and it has received written instructions from the Servicer as to such deposits, distributions and payments. 

SECTION 5.03 Reports and Statements to Series 2014-5 Noteholders. 

(a) The Indenture Trustee will make available each month to each Series 2014-5 Noteholder the statements referred to in
Section 5.03(b) below (and certain other documents, reports and information regarding the Receivables provided by the Servicer form time to time) via the Indenture Trustee’s internet website, with the use of a password provided by
the Indenture Trustee. The Indenture Trustee’s internet website will be located at www.CTSLink.com or at such other address as the Indenture Trustee shall notify the Series 2014-5 Noteholders from time to time. For assistance with regard to
this service, the Series 2014-5 Noteholders can call the Indenture Trustee’s Corporate Trust Office at (866) 846-4526. The Indenture Trustee shall have the right to change the way the statements
referred to in Section 5.03(b) below are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then
current Series 2014-5 Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.4, Section 12.5 or
Section 12.6 of the Indenture, as appropriate. 
 (b) No later than the second Business Day preceding each Distribution Date,
the Servicer shall deliver to the Owner Trustee, the Indenture Trustee and, if Ally Financial or an Affiliate of Ally Financial is the Servicer, each Rating Agency (or, if Ally Financial or an Affiliate of Ally Financial is not the Servicer, to the
Depositor, who shall promptly provide such Monthly Statement to each Rating Agency) a statement substantially in the form of Exhibit B (the “Monthly Statement”) prepared by the Servicer; provided that the Servicer may amend
the form of Exhibit B from time to time. 
 (c) A copy of each statement or certificate provided pursuant to
Section 5.03(a) or (b) may be obtained by any Series 2014-5 Noteholder by a request in writing to the Servicer. 

(d) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Indenture
Supplement, the Indenture Trustee and the 

  
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Administrator shall furnish (or cause to be furnished), to each Person who at any time during such calendar year shall have been a holder of record of Series 2014-5 Notes, and received any
payment thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such Noteholder to prepare its federal income tax returns. 

SECTION 5.04 Other Information to be Provided by the Indenture Trustee and the Owner Trustee. 

(a) The Indenture Trustee agrees to deliver on or before March 1 of each year, a report signed by an authorized officer of the Indenture
Trustee regarding the Indenture Trustee’s assessment of compliance with the servicing criteria specified on Exhibit C, including disclosure of any material instance of non-compliance identified by the Indenture Trustee, for the preceding
calendar year relating to the Indenture Trusee’s servicing platform with respect to asset-backed securities that are backed by assets of the same type as the Receivables and including the Receivables. The Indenture Trustee agrees to cooperate
in good faith with any reasonable request by the Depositor for information regarding the Indenture Trustee which is required in order to enable the Depositor to comply with the provisions of Items 1104(e) and 1121(c) of Regulation AB and Rule 15Ga-1
under the Exchange Act as it relates to the Indenture Trustee or to the Indenture Trustee’s obligations under this Indenture Supplement and the Indenture; provided that with respect to Rule 15Ga-1, and Items 1121(c) and 1104(e), the
Indenture Trustee shall not be deemed a “securitizer” or an “issuer” under Regulation AB or under the Exchange Act. 

(b) The Indenture Trustee shall provide the Depositor with notification, as soon as practicable and in any event within five Business Days, of
all demands communicated to the Indenture Trustee for the repurchase or replacement of any Receivable pursuant to Section 3.04(c), 4.01(c) or 4.02(c) of the Pooling and Servicing Agreement or Section 2.5 or
3.1(c) of the Trust Sale and Servicing Agreement, as applicable. 
 (c) The Owner Trustee agrees to cooperate in good faith with any
reasonable request by the Depositor for information regarding the Owner Trustee which is required in order to enable the Depositor to comply with the provisions of Items 1104(e) and 1121(c) of Regulation AB and Rule 15Ga-1 under the Exchange Act as
it relates to the Owner Trustee or to the Owner Trustee’s obligations under the Trust Agreement; provided that with respect to Rule 15Ga-1, and Items 1121(c) and 1104(e), the Owner Trustee shall not be deemed a “securitizer” or
an “issuer” under Regulation AB or under the Exchange Act; and provided further, that any such request shall be limited to information reasonably available to the Responsible Officers of the Owner Trustee. 

(d) The Owner Trustee shall provide the Depositor with notification, as soon as practicable and in any event within five Business Days, of all
demands communicated to a Responsible Officer of the Owner Trustee for the repurchase or replacement of any Receivable pursuant to Section 3.04(c), 4.01(c) or 4.02(c) of the Pooling and Servicing Agreement or Section
2.5 or 3.1(c) of the Trust Sale and Servicing Agreement, as applicable; provided that any such request shall be limited to information reasonably available to the Responsible Officers of the Owner Trustee. 

  
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 ARTICLE VI 

SERIES 2014-5 EARLY AMORTIZATION EVENTS AND SERIES 2014-5 EVENTS OF 

DEFAULT 
 SECTION 6.01
Series 2014-5 Early Amortization Events. 
 If any one of the following events occurs with respect to the Series 2014-5 Notes: 

(a) failure on the part of the Depositor, the Servicer or the Seller, as applicable, to duly observe or perform in any material respect any
other covenants or agreements of the Depositor, the Servicer or the Seller, as the case may be, set forth in the Trust Sale and Servicing Agreement or the Pooling and Servicing Agreement, which failure continues unremedied for a period of 60 days
after the date on which written notice of such failure, requiring the same to be remedied, shall have been given by the Indenture Trustee or the Owner Trustee to the Depositor, provided, however, that no Early Amortization Event shall
be deemed to occur if such failure results in the creation of Warranty Receivables or Administrative Receivables and such Warranty Receivables or Administrative Receivables are purchased by the Seller, the Depositor or the Servicer in accordance
with the Basic Documents; 
 (b) any representation or warranty made by the Seller in the Pooling and Servicing Agreement or the Depositor
in the Trust Sale and Servicing Agreement or any information contained on the Schedule of Accounts, (i) shall prove to have been incorrect in any material respect when made or when delivered, and shall continue to be incorrect in any material
respect for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Depositor by the Indenture Trustee or the Owner Trustee and (ii) as a result of such
incorrectness the interests of the Noteholders are materially and adversely affected, provided, however, that no Early Amortization Event shall be deemed to occur if such failure results in the creation of Warranty Receivables or
Administrative Receivables and such Warranty Receivables or Administrative Receivables are purchased by the Seller, the Depositor or the Servicer in accordance with the Basic Documents; 

(c) failure on the part of the Depositor, the Servicer or the Seller, as applicable, to pay (or set aside for payment) all amounts required to
be paid as principal on any Series 2014-5 Notes on the Series 2014-5 Expected Maturity Date; 
 (d) on any Distribution Date, the average of
the Monthly Payment Rates for the three preceding Collection Periods is less than 17.50%; 
 (e) on any three consecutive Distribution
Dates, the amount on deposit in the Reserve Fund is less than the Reserve Fund Required Amount; 
 (f) on any Distribution Date, the Reserve
Fund Required Amount for such Distribution Date exceeds the amount on deposit in the Reserve Fund by more than the Reserve Fund Trigger Amount; 

  
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 (g) the unpaid principal amount of Outstanding Series 2014-5 Notes (together with accrued and
unpaid interest thereon) shall have become immediately due and payable as a result of an Event of Default pursuant to Section 6.03 of this Indenture Supplement; 

(h) an Insolvency Event with respect to the Seller, the Depositor or the Servicer (or Ally Financial, if Ally Financial is not the Servicer);

 (i) on any Distribution Date, the amount on deposit in the Excess Funding Account exceed 30.0% of the sum of the Net Invested Amounts of
all outstanding Series (including Series 2014-5), being determined as the average over the six Collection Periods immediately preceding the Distribution Date, or, if shorter, the period from the initial issuance date through and including the last
day of the immediately preceding Collection Period); 
 (j) the Issuing Entity or the Depositor is required to register under the Investment
Company Act; 
 (k) a Liquidation Event occurs with respect to a Significant Manufacturer or with respect to a Majority of Manufacturers;

 (l) on any Distribution Date, the Required Class E Invested Amount for such Distribution Date exceeds the Class E Invested Amount; 

(m) a failure by the Depositor to transfer to the Issuing Entity Receivables arising in connection with Additional Accounts within 15 Business
Days after the date on which the Depositor is required to convey such Receivables pursuant to Section 2.7(a) of the Trust Sale and Servicing Agreement; or 

(n) on the first Distribution Date related to the Controlled Accumulation Period, the amount on deposit in the Accumulation Period Reserve
Account is less than the Accumulation Period Reserve Account Required Amount; 
 then, (i) in the case of any event described in
clauses (a) or (b) above, after any applicable grace period, either the Indenture Trustee or the Holders of at least a majority of the Outstanding Amount of Series 2014-5 Notes by notice then given in writing to the Depositor and
the Servicer (and to the Indenture Trustee if given by the Series 2014-5 Noteholders) may declare that an Early Amortization Event with respect to the Series 2014-5 Notes (a “Series 2014-5 Early Amortization Event”) has occurred as
of the date of such notice, and (ii) in the case of any event described in clauses (c) through (n) above, immediately and without any notice or other action on the part of the Indenture Trustee or the Series 2014-5
Noteholders, a Series 2014-5 Early Amortization Event shall be deemed to have occurred. 

  
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 SECTION 6.02 Series 2014-5 Events of Default. 

For the purposes of this Indenture Supplement, “Event of Default” wherever used herein, means any one of the following events:

 (a) failure to pay any interest on any Investor Note as and when the same becomes due and payable, and such default shall continue
unremedied for a period of thirty-five (35) days; or 
 (b) except as set forth in
Section 6.02(c) below, failure to pay any instalment of the principal of any Investor Note as and when the same becomes due and payable, and such default continues unremedied for a period of thirty (30) days after there shall have
been given, by registered or certified mail, written notice thereof to the Issuing Entity and the Servicer by the Indenture Trustee or to the Issuing Entity, the Servicer and the Indenture Trustee by the Holders of not less than 25% of the
Outstanding Amount of such Notes, a written notice specifying such default and demanding that it be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(c) failure to pay in full the Outstanding Amount attributable to the Series 2014-5 Notes on or prior to the Series 2014-5 Legal Maturity Date
for such Notes; 
 (d) default in the observance or performance in any material respect of any covenant or agreement of the Issuing Entity
made in the Indenture or this Indenture Supplement in respect of the Series 2014-5 Notes (other than a covenant or agreement in respect of the Series 2014-5 Notes a default in the observance or performance which is specifically dealt with elsewhere
in this Section 6.02), which failure materially and adversely affects the rights of the Noteholders, and such default shall continue or not be cured for a period of 30 days after there shall have been given, by registered or certified
mail, to the Issuing Entity and the Servicer by the Indenture Trustee or to the Issuing Entity, the Servicer and the Indenture Trustee by the Holders of at least 25% of the Outstanding Amount of the Series 2014-5 Notes, a written notice specifying
such default and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; 
 (e) the
filing of an order for relief by a court having jurisdiction in the premises in respect of the Issuing Entity or any substantial part of the Trust Estate in an involuntary case under the Bankruptcy Code, and such order shall have continued
undischarged or unstayed for a period of 90 days; or the filing of a decree or order by a court having jurisdiction in the premises approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of the Issuing
Entity under any other Insolvency Law, and such decree or order shall have continued undischarged or unstayed for a period of 90 days; or the filing of a decree or order of a court having jurisdiction in the premises appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuing Entity or for any substantial part of the Trust Estate, or ordering the winding-up or liquidation of the Issuing
Entity’s affairs, and such decree or order shall have continued undischarged and unstayed for a period of 90 consecutive days; or 

(f) the commencement by the Issuing Entity of a voluntary case under the Bankruptcy Code; or the filing of a petition or answer or consent by
the Issuing Entity seeking reorganization, arrangement, adjustment or composition under any other Insolvency Law, or consent to the filing of any such petition, answer or consent; or the consent by the Issuing Entity to the appointment or taking
possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuing Entity or for any substantial part of the Trust Estate, or the making by the Issuing Entity of an assignment for the benefit of
creditors, or the admission in writing of its inability to pay its debts generally as such debts become due. 

  
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 The Issuing Entity shall deliver to the Indenture Trustee within five Business Days after
learning of the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under Section 6.02(d), its status and
what action the Issuing Entity is taking or proposes to take with respect thereto. 
 SECTION 6.03 Acceleration of Maturity;
Rescission and Annulment. 
 (a) If an Event of Default, other than an Event of Default as a result of an Insolvency Event with respect
to the Issuing Entity, should occur and is continuing, then the Indenture Trustee may, or shall, at the direction of the Holders of at least a majority of the Outstanding Amount of the Series 2014-5 Notes, declare all the Series 2014-5 Notes to be
immediately due and payable, by a notice in writing to the Issuing Entity and the Servicer (and to the Indenture Trustee if declared by such Noteholders) setting forth the Event or Events of Default. If an Insolvency Event of Default occurs and is
continuing, then the Series 2014-5 Notes shall be immediately and without further action become due and payable, and the Indenture Trustee shall give a notice to such effect in writing to the Issuing Entity (although failure to give such notice
shall not affect the immediate acceleration of maturity). Upon any such declaration or automatic occurrence, the Revolving Period or the Controlled Accumulation Period, as applicable, with respect to the Series 2014-5 Notes shall terminate, an Early
Amortization Period shall commence and the unpaid principal amount of such Series 2014-5 Notes, together with accrued and unpaid interest thereon through the date of acceleration, shall become immediately due and payable. 

(b) At any time after such acceleration of maturity has occurred pursuant to Section 6.03(a) and before a judgment or decree for
payment of the money due has been obtained by the Indenture Trustee as provided in Article V of the Indenture, the Holders of at least a majority of the Outstanding Amount of the Series 2014-5 Notes, by written notice to the Issuing Entity,
the Servicer and the Indenture Trustee, may rescind and annul such acceleration and its consequences with respect to the Series 2014-5 Notes. No such rescission and annulment shall extend to or affect any subsequent Event of Default or impair any
right consequent thereto; and provided, further, that if the Indenture Trustee shall have proceeded to enforce any right under the Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and
annulment or for any other reason, or shall have been determined adversely to the Indenture Trustee, then and in every such case, the Indenture Trustee, the Issuing Entity and the Noteholders, as the case may be, shall be restored to their
respective former positions and rights hereunder and under the Indenture, and all rights, remedies and powers of the Indenture Trustee, the Issuing Entity and the Noteholders, as the case may be, shall continue as though no such proceedings had been
commenced. 
 (c) If the Series 2014-5 Notes shall have been accelerated following an Event of Default, the Indenture Trustee may exercise
the remedies available to it as set forth in Article V the Indenture. 

  
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 (d) Any money or property collected by the Indenture Trustee pursuant to this
Section 6.03 following the acceleration of the maturities of the Series 2014-5 Notes (so long as such acceleration has not been rescinded or annulled) shall be paid out or allocated in accordance with Section 5.4(b) of the
Indenture. 
 ARTICLE VII 

REDEMPTION OF SERIES 2014-5 NOTES; SERIES LEGAL MATURITY; FINAL 

DISTRIBUTIONS 

SECTION 7.01 Optional Redemption of Series 2014-5 Notes. 

(a) On any day occurring on or after the date on which the Note Principal Balance is reduced to 10% or less of the Initial Note Principal
Balance, the Servicer (if Ally Financial or an Affiliate of Ally Financial is the Servicer) shall have the option to purchase the Series 2014-5 Noteholders’ Collateral and thereby cause a redemption of the Series 2014-5 Notes, at a purchase
price equal to (i) if such day is a Distribution Date, the Reassignment Amount for such Distribution Date or (ii) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. 

(b) Upon any such election, the Servicer shall give the Depositor, the Indenture Trustee, the Issuing Entity and, if applicable, other holders
of the Certificate Interest at least 30 days prior written notice of the date on which the Servicer intends to exercise such optional redemption as well as the Reassignment Amount and the Indenture Trustee shall provide notice to Holders of the
Series 2014-5 Notes that it has received such notice from the Servicer. No later than 11:00 a.m. (New York City time) on such day the Servicer shall deposit the Reassignment Amount into the Collection Account or, at the direction of the Depositor or
election of the Servicer in an amount not to exceed the interest and principal to be paid with respect to the Series 2014-5 Notes, the Note Defeasance Account, in immediately available funds. Such redemption option is subject to payment in full of
the Reassignment Amount. Following such deposit into the Collection Amount or the Note Defeasance Account, as applicable, in accordance with the foregoing, the Invested Amount of the Series 2014-5 Notes shall be deemed reduced to zero and the Series
2014-5 Noteholders shall be deemed to have no further interest in the Receivables. The Reassignment Amount shall be distributed as set forth in Section 7.02. 

SECTION 7.02 Series Legal Maturity. 

(a) The amount to be paid by the Depositor with respect to Series 2014-5 in connection with a reassignment of the Noteholders’ Collateral
pursuant to Section 2.5 of the Trust Sale and Servicing Agreement shall be the Reassignment Amount for the first Distribution Date following the Collection Period in which the reassignment obligation arises under the Trust Sale and
Servicing Agreement. With respect to the Reassignment Amount deposited into the Collection Account or the Note Defeasance Account, as applicable, pursuant to Section 2.5 of the Trust Sale and Servicing Agreement or pursuant to
Section 7.01 of this Indenture Supplement or the proceeds from any Foreclosure Remedy pursuant to Section 5.4 of the Indenture, the Indenture Trustee shall, in accordance with the written direction of the Servicer, no later
than 11:00 a.m. (New York City time) on the related Distribution Date, make deposits or distributions 

  
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of the following amounts (in the priority set forth below and, in each case after giving effect to any deposits and distributions otherwise to be made on such date) in immediately available funds
first, from amounts on deposit in the Note Defeasance Account and, to the extent the amounts on deposit in the Note Defeasance Account are insufficient to make such allocations, second, from available funds on deposit in the Collection Account, to
make the following distributions or deposits in the following priority: 
 (i) (A) the Class A Note Principal Balance on
such Distribution Date shall be distributed to the Indenture Trustee for payment to the Class A Noteholders, pro rata, between the Class A-1 Noteholders and the Class A-2 Noteholders, and (B) an amount equal to the sum of
(1) the Class A Monthly Interest for such Distribution Date and (2) any Class A Monthly Interest previously due but not paid to the Class A Noteholders on prior Distribution Dates, shall be distributed to the Indenture
Trustee for payment to the Class A Noteholders, pro rata on the basis of the amount of Class A Monthly Interest owed, between the Class A-1 Noteholders and the Class A-2 Noteholders, on such Distribution Date; 

(ii) (A) the Class B Note Principal Balance on such Distribution Date shall be distributed to the Indenture Trustee for payment
to the Class B Noteholders and (B) an amount equal to the sum of (1) the Class B Monthly Interest for such Distribution Date and (2) any Class B Monthly Interest previously due but not paid to the Class B Noteholders on prior
Distribution Dates, shall be distributed to the Indenture Trustee for payment to the Class B Noteholders on such Distribution Date; 

(iii) (A) the Class C Note Principal Balance on such Distribution Date shall be distributed to the Indenture Trustee for
payment to the Class C Noteholders and (B) an amount equal to the sum of (1) the Class C Monthly Interest for such Distribution Date and (2) any Class C Monthly Interest previously due but not paid to the Class C Noteholders on prior
Distribution Dates, shall be distributed to the Indenture Trustee for payment to the Class C Noteholders on such Distribution Date; 

(iv) (A) the Class D Note Principal Balance on such Distribution Date shall be distributed to the Indenture Trustee for payment
to the Class D Noteholders and (B) an amount equal to the sum of (1) the Class D Monthly Interest for such Distribution Date and (2) any Class D Monthly Interest previously due but not paid to the Class D Noteholders on prior
Distribution Dates, shall be distributed to the Indenture Trustee for payment to the Class D Noteholders on such Distribution Date; and 

(v) the Class E Note Principal Balance on such Distribution Date shall be distributed to the Indenture Trustee for payment to
the Class E Noteholders on such Distribution Date. 
 (b) Notwithstanding anything to the contrary in this Indenture Supplement, the
Indenture or the Trust Sale and Servicing Agreement, (i) all amounts distributed to the Indenture 

  
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Trustee pursuant to Section 7.02(a) for payment to the Series 2014-5 Noteholders shall be deemed distributed in full to the Series 2014-5 Noteholders on the date on which such funds
are distributed to the Indenture Trustee pursuant to this Section and shall be deemed to be a final distribution pursuant to Section 11.2 of the Indenture and (ii) in the event that the amounts available for final distribution to
the Series 2014-5 Noteholders and to the Noteholders of any other Series on any Distribution Date are less than the full amount required to be so distributed, the available amounts shall be allocated to each Series based on the respective amounts
required to be distributed to each such Series (including Series 2014-5) on such Distribution Date. 
 ARTICLE VIII 

MISCELLANEOUS PROVISIONS 

SECTION 8.01 Ratification of Agreement. 

As supplemented by this Indenture Supplement, the Indenture is in all respects ratified and confirmed and the Indenture as so supplemented by
this Indenture Supplement is to be read, taken and construed as one and the same instrument. 
 SECTION 8.02 Form of Delivery of
Series 2014-5 Notes. 
 The Series 2014-5 Notes shall be delivered as Registered Notes as provided in Section 2.2 of the
Indenture. 
 SECTION 8.03 Counterparts. 

This Indenture Supplement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all
counterparts shall together constitute one and the same instrument. 
 SECTION 8.04 Governing Law. 

THIS INDENTURE SUPPLEMENT AND EACH SERIES 2014-5 NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF
NEW YORK, WITHOUT REFERENCE TO THE CONFLICT OF LAW PROVISIONS THEREOF OR OF ANY OTHER JURISDICTION OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

SECTION 8.05 Effect of Headings and Table of Contents. 

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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 SECTION 8.06 Notices. 

(a) The Issuing Entity (or the Servicer or Administrator on its behalf) shall deliver all notices, requests, consents or other communications
delivered to the Rating Agencies hereunder to Standard & Poor’s concurrently with the delivery thereof to the Rating Agencies. 

(b) All notices, requests, reports, consents or other communications deliverable to the Rating Agencies hereunder or under any other Basic
Document by the Owner Trustee, the Issuing Entity or the Indenture Trustee shall instead be delivered to the Depositor, which shall promptly deliver such document to the Rating Agencies (which may be delivered by posting such document to the website
maintained by the Depositor for notifications to nationally recognized statistical rating organizations). 
 SECTION 8.07 Limitation
of Liability. 
 It is expressly understood that (i) this Indenture Supplement and each Series 2014-5 Note has been
executed by U.S. Bank Trust National Association, not in its individual capacity but solely as Owner Trustee on behalf of the Issuing Entity, (ii) each of the representations, undertakings and agreements herein or therein made on the part of
the Issuing Entity is made and intended not as a personal representation, undertaking or agreement by U.S. Bank Trust National Association but is made and intended for the purpose of binding only the Issuing Entity, (iii) nothing herein
contained shall be construed as creating any liability on U.S. Bank Trust National Association, individually or personally, to perform any covenant of the Issuing Entity either expressed or implied contained herein, all such liability, if any, being
expressly waived by the parties hereto and by any Person claiming by, through or under the parties hereto, and (iv) under no circumstances will U.S. Bank Trust National Association be personally liable for the payment of any obligation,
indebtedness or expenses of the Issuing Entity or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuing Entity under this Indenture Supplement or any Series 2014-5 Note. 

  
 53 

 IN WITNESS WHEREOF, the Issuing Entity and the Indenture Trustee have caused this Indenture Supplement to be duly
executed by their respective duly authorized officers, all as of the day and year first above written. 
  

			
	 ALLY MASTER OWNER TRUST, as Issuing Entity

	
	By U.S. Bank Trust National Association, not in its individual capacity, but solely as Owner Trustee
		
	 By
	 	 /s/ Edwin J. Janis

	 Name:
	 	 Edwin J. Janis

	 Title:
	 	 Vice President

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Indenture Trustee and Securities Intermediary
		
	 By
	 	 /s/ Chad Schafer

	 Name:
	 	 Chad Schafer

	 Title:
	 	 Vice President

  

			
	 Acknowledged and Agreed, solely for

purposes of Sections 5.04(c) and (d)

	
	 U.S. BANK TRUST NATIONAL

ASSOCIATION, not in its individual

capacity, but solely as Owner Trustee

		
	 By
	 	 /s/ Edwin J. Janis

	 Name:
	 	 Edwin J. Janis

	 Title:
	 	 Vice President

  
 54 

 EXHIBIT A 

FORM OF CLASS [A-1][A-2][B][C][D][E] NOTE 

[Unless this Class [A-1][A-2] Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuing Entity or its agent for registration of transfer, exchange or payment, and any Note 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.] 
 [This Class [B][C][D][E] Note has not and will not
be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the securities or blue sky laws of any State in the United States or any foreign securities laws. By its acceptance of this
Class [B][C][D][E] Note (or interest therein), the Holder of this Class [B][C][D][E] Note (or such interest), if other than the Depositor, is deemed to represent and warrant to the Depositor and the Indenture Trustee that it is a “Qualified
Institutional Buyer” as defined in Rule 144A under the Securities Act and is acquiring this Class [B][C][D][E] Note (or interest therein) for its own account (and not for the account of others) or as a fiduciary or agent for others (which
others also are Qualified Institutional Buyers) or has otherwise acquired an interest in the Class [B][C][D][E] Note in a transaction that is exempt from the registration requirements of the Securities Act.] 

[No sale, pledge or other transfer of this Class [B][C][D][E] Note (or interest therein) may be made by any Person unless either (i) such
sale, pledge or other transfer is made by or to the Depositor, (ii) at the time of such sale, pledge or other transfer, (A) this Class [B][C][D][E] Note is eligible for resale pursuant to Rule 144A under the Securities Act, and such sale,
pledge or other transfer is made to a person whom the transferor “reasonably believes” within the meaning of Rule 144A under the Securities Act is a “qualified institutional buyer” within the meaning of Rule 144A under the
Securities Act (a “Qualified Institutional Buyer”) acting for its own account or the accounts of other Qualified Institutional Buyers, and (B) the transferee is aware that the transferor of this Class [B][C][D][E] Note intends
to rely on the exemption from the registration requirements of the Securities Act provided by Rule 144A under the Securities Act, or (iii) such sale, pledge or other transfer is otherwise made in a transaction exempt from the registration
requirements of the Securities Act, in which case (A) the Indenture Trustee shall require that both the prospective transferor and the prospective transferee certify to the Indenture Trustee and the Depositor in writing the facts surrounding
such transfer, which certification shall be in form and substance satisfactory to the Indenture Trustee and the Depositor, and (B) the Indenture Trustee shall require a written opinion of 

  
 Ex. A-1 

 
counsel (which will not be at the expense of the Seller, the Depositor, the Administrator, the Issuing Entity, the Servicer or the Indenture Trustee) satisfactory to the Depositor and the
Indenture Trustee to the effect that such transfer will not violate the Securities Act and satisfaction of certain other provisions specified herein.] 

Each Noteholder or Note Owner, by acceptance of this Note (or interest therein), hereby covenant and agree that by accepting the benefits of
the Indenture such Noteholder or Note Owner shall not, prior to the date which is one year and one day after the termination of the Indenture with respect to the Issuing Entity and, with respect to the Depositor, the Securities issued by each other
trust formed by and each other financing by the Depositor, acquiesce, petition or otherwise invoke or cause the Depositor or the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or sustaining a
case against the Depositor or the Issuing Entity under any Insolvency Law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Depositor or the Issuing Entity or any substantial part of
the property of either of them, or ordering the winding up or liquidation of the affairs of the Depositor or the Issuing Entity. 
 Each
Noteholder, by acceptance of this Note (or interest therein), covenants and agrees that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuing Entity, the Owner Trustee or the Indenture Trustee on the Notes
or under the Indenture or any certificate or other writing delivered in connection herewith or therewith, against: 
 (i) the
Indenture Trustee or the Owner Trustee in its individual capacity; 
 (ii) the Depositor or any other owner of a beneficial
interest in the Issuing Entity; or 
 (iii) any partner, owner, beneficiary, agent, officer, director or employee of the
Indenture Trustee or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuing Entity, the Owner Trustee or the Indenture Trustee or of any successor or assign of the Indenture Trustee or the Owner Trustee in
its individual capacity, except as any such Person may have expressly agreed (it being understood that the Indenture Trustee and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or
beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 

Except as expressly provided in the Basic Documents, none of the Seller, the Depositor, the Servicer, the Indenture Trustee nor the Owner
Trustee in their respective individual capacities, any owner of a beneficial interest in the Issuing Entity, nor any of 

  
 Ex. A-2 

 
their respective partners, owners, beneficiaries, agents, officers, directors, employees or successors or assigns, shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of [or interest on], or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being expressly understood that said covenants, obligations
and indemnifications have been made solely by the Issuing Entity. Each Noteholder by accepting this Note (or any interest therein) acknowledges that such Noteholder’s Note (or interest therein) represents beneficial interests in the Issuing
Entity only and does not represent interests in or obligations of the Depositor, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any Affiliate thereof (other than the Issuing Entity) and no recourse, either directly or
indirectly, may be had against such parties or their assets, except as may be expressly set forth or contemplated in the Basic Documents. Each Noteholder by the acceptance of a Note (or beneficial interest therein) agrees that except as expressly
provided in the Basic Documents, in the event of nonpayment of any amounts with respect to the Notes, it shall have no claim against any of Depositor, the Servicer, the Administrator, the Owner Trustee, the Indenture Trustee or any Affiliate for any
deficiency, loss or claim therefrom; provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuing Entity for any and all liabilities, obligations and
undertakings contained in the Indenture or in the Notes. 
 If any of the foregoing covenants of a Noteholder is prohibited by, or declared
illegal or otherwise unenforceable against or with respect to any Noteholder under applicable law by any court or other authority of competent jurisdiction, and, as a result, a Noteholder is deemed to have an interest in any assets of the Depositor
or any Affiliate of the Depositor other than the Issuing Entity (“other assets”), each Noteholder or Note Owner by the acceptance of this Note (or beneficial interest therein), agrees that (i) its claim against any such other assets
shall be, and hereby is, subject and subordinate in all respects to the rights of other Persons to whom rights in the other assets have been expressly granted (“entitled Persons”), including to the payment in full of all amounts owing to
such entitled Persons, and (ii) the covenant set forth in the preceding clause (i) constitutes a “subordination agreement” within the meaning of, and subject to, Section 510(a) of the Bankruptcy Code. 

[The holder of this Note, by acceptance of this Note, and each holder of a beneficial interest therein, unless otherwise required by the
appropriate taxing authorities, agree to treat this Note as indebtedness of the Issuing Entity for applicable United States federal, state and local income and franchise tax purposes and any other taxes imposed upon, measured by or based upon gross
or net income.] 
 [Any holder of this Class [A-1][A-2][B][C][D] Note, by its acceptance of this Class [A-1][A-2][B][C][D] Note, shall be
deemed to have represented that either (a) it is not acquiring the Class [A-1][A-2][B][C][D] Note with the assets of (i) an employee benefit plan (as defined in Section 3(3) of the Employee Retirement Income Security Act

  
 Ex. A-3 

 
of 1974, as amended (“ERISA”)) that is subject to the provisions of Title I of ERISA, (ii) a plan described in Section 4975(e)(1) of the Internal Revenue Code of 1986,
as amended (the “Code”) which is subject to Section 4975 of the Code, (iii) an entity whose underlying assets are treated under regulations issued by the U.S. Department of Labor, as modified by Section 3(42) of
ERISA, to include plan assets by reason of investment by an employee benefit plan or a plan in such entity or (iv) any other plan that is subject to any law that is substantially similar to Title I of ERISA or Section 4975 of the Code; or
(b) the acquisition and holding of the Class [A-1][A-2][B][C][D] Note will not give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a non-exempt violation of any substantially similar applicable law. Employee benefit plans subject to the provisions of Title I of ERISA, plans subject to Section 4975 of the Code and entities whose underlying
assets include plan assets by reason of an employee benefit plan’s or plan’s investment in such entity may not acquire this Class [A-1][A-2][B][C][D] Note at any time that this Class [A-1][A-2][B][C][D] Note would not be treated as
indebtedness without substantial equity features [or the ratings on this Class [B][C][D] Note are below investment grade]. [Any holder of this Class [E] Note, by its acceptance of this Class [E] Note, shall be deemed to have represented that
(a) it is not acquiring the Class [E] Note with the plan assets of (i) an employee benefit plan (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject
to the provisions of Title I of ERISA, (ii) a plan described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended (the “Code”) which is subject to Section 4975 of the Code, (iii) an entity whose
underlying assets include plan assets by reason of investment by an employee benefit plan or a plan in such entity other than an insurance company general account (as defined in Prohibited Transaction Class Exemption (“PTCE”) 95-60) whose underlying assets include less than 25% “plan assets” and for which the purchase and holding of the Class [E] Notes is eligible for and satisfied all conditions for relief under PTCE 95-60 or (iv) an employee benefit plan or plan that is not subject to the provisions of Title I of ERISA or Section 4975 of the Code if such acquisition would result in a
non-exempt prohibited transaction under, or a non-exempt violation of, any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the
Code.] 
 [Transfer of this Class E Note may only be made to a Person who is a United States Person (within the meaning of
Section 7701(a)(30) of the Internal Revenue Code). Any Person acquiring this Class E Note or an interest therein (i) shall not be deemed to have made the representations set forth in Section 2.14 of the Indenture and (ii) other
than the Depositor shall not acquire or hold this Class E Note or interest herein in the form of a Book Entry Note.] 
 [No sale, pledge or
other transfer may be made to any one person of a Class E Note with a face amount of less than the amount determined in accordance with Section 1.01(f) of the Indenture Supplement (in order to prevent the Issuing Entity from being
treated as a “publicly traded partnership” under Section 7704 of the Code, and, in the case 

  
 Ex. A-4 

 
of any Person acting on behalf of one or more third parties (other than a bank (as defined in Section 3(a)(2) of the Securities Act) acting in its fiduciary capacity), for a Class E Note
with a face amount of less than such amount for each such third party. Any attempted transfer in contravention of the immediately preceding restriction will be void ab initio and the purported transferor will continue to be treated as the
owner of the Class E Notes for all purposes. No Class E Note may be transferred unless the transferor provides to the Indenture Trustee an opinion of independent counsel that the transfer will not cause the Issuing Entity to be treated as an
association (or publicly traded partnership) taxable as a corporation for federal income tax purposes.] 

  
 Ex. A-5 

			
	Registered	  	$            1
	No. R-    	  	
CUSIP No.                    

ISIN No.                    

Common Code                    

 ALLY MASTER OWNER TRUST 

SERIES 2014-5 [FLOATING][FIXED] RATE ASSET BACKED][ASSET BACKED EQUITY] NOTE, CLASS [A-1][A-2][B][C][D][E] 

Ally Master Owner Trust (herein referred to as the “Issuing Entity”), a Delaware statutory trust governed by the Trust
Agreement, dated as of February 12, 2010, for value received, hereby promises to pay to
                                        , or
registered assigns, subject to the following provisions, the principal sum of
                                         
               
                             DOLLARS, or such greater or lesser amount as determined in
accordance with the Indenture and the Indenture Supplement (each referred to herein), on the October 2019 Distribution Date (the “Series 2014-5 Legal Maturity Date”), except as otherwise provided below or in the Indenture or the
Indenture Supplement. Beginning on December 15, 2014, and on each Distribution Date thereafter until the principal amount of this Note is paid in full, the Issuing Entity shall pay interest on the unpaid principal amount of this Note at an
annual rate equal to the Class [A-1][A-2][B][C][D] Note Interest Rate, as determined pursuant to the Indenture Supplement. Interest on this Note shall begin accruing from November 12, 2014 (the “Closing Date”) and shall be
payable in arrears on each Distribution Date, computed on the basis of a 360-day year and [the actual number of days elapsed][twelve 30-day months]. The principal of this Note shall be paid in the manner
specified on the reverse hereof. 
 The principal of [and interest] on this Note are payable in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference is made to the further provisions
of this Note set forth on the reverse hereof, which shall have the same effect as though fully set forth on the face of this Note. 
 Unless
the certificate of authentication hereon has been executed by or on behalf of the Indenture Trustee, by manual signature, this Note shall not be entitled to any benefit under the Indenture or the Indenture Supplement referred to on the reverse
hereof, or be valid for any purpose. 
  
  

	1 	[This Class [A-1][A-2][B][C][D] Note may be issued in denominations of $1,000 and integral multiples of $1,000 in excess thereof.][This Class E Asset Backed Equity Note may be issued only in denominations equal to the
Class E Note Principal Balance.] 

  
 Ex. A-6 

 IN WITNESS WHEREOF, the Issuing Entity has caused this Note to be duly executed. 

 

			
	ALLY MASTER OWNER TRUST, as Issuing Entity
	  
 By U.S. Bank Trust National Association, not in its
individual capacity, but solely as Owner Trustee

		
	 By
	 	  

	 Name:
	 	
	 Title:
	 	

 Dated: 

INDENTURE TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes described in the within-mentioned Indenture. 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Indenture Trustee
		
	By	 	  

		 	Authorized Officer

  
 Ex. A-7 

 ALLY MASTER OWNER TRUST 

SERIES 2014-5 [[FLOATING][FIXED] RATE ASSET BACKED][ASSET BACKED 

EQUITY] NOTE, CLASS [A-1][A-2][B][C][D][E] 

Summary of Terms and Conditions 

This Note is one of a duly authorized issue of Notes of the Issuing Entity, designated as the Series 2014-5 [[Floating][Fixed] Rate] Asset
Backed Notes (the “Notes”), issued under the Indenture, dated as of February 12, 2010 (the “Indenture”), between the Issuing Entity and Wells Fargo Bank, National Association, as indenture trustee (the
“Indenture Trustee”), as supplemented by the Series 2014-5 Indenture Supplement, dated as of November 12, 2014 (the “Indenture Supplement” and, together with the Indenture, the “Series
Agreement”), and representing the right to receive certain payments from the Issuing Entity. The Notes are subject to all of the terms of the Series Agreement. All terms used in this Note that are defined in the Series Agreement have the
meanings assigned to them in or pursuant to the Series Agreement. In the event of any conflict or inconsistency between the Series Agreement and this Note, the Series Agreement controls. 

The [Class A-1 Notes, the Class A-2 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Note] with initial
principal amounts of $[            ], $[            ],
$[            ], $[            ] and $[            ], respectively,
shall also be issued under the Series Agreement. [The rights of the holders of the [Class A-1 Notes, the Class A-2 Notes, the Class B Notes, the Class C Notes, and the Class D Notes] to receive payments on [the Class A-1 Notes, the
Class A-2 Notes, the Class B Notes, the Class C Notes and the Class D Notes] are senior to the rights of the holders of the Class [B][C][D][E] Notes to receive payments as specified in the Series Agreement.] [The rights of the holders of [the
Class B Notes, the Class C Notes, the Class D Notes, and the Class E Notes] to receive payments on [the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes] are subordinate to the rights of the holders of the Class
[A-1][A-2][B][C][D] Notes to receive payments as specified in the Series Agreement.] 
 The Series 2014-5 Notes only represent interest in
the Issuing Entity allocated to the Series 2014-5 Notes. The Noteholder, by its acceptance of this Note, agrees that it shall look solely to the property of the Issuing Entity allocated to the payment of the Notes for payment hereunder and under the
Series Agreement and that the Indenture Trustee is not liable to the Noteholders for any amount payable under the Notes or the Series Agreement or, except as expressly provided in the Series Agreement, subject to any liability under the Series
Agreement. 
 Upon the irrevocable deposit of any amount into the Note Defeasance Account pursuant to the Series Agreement, the Issuing
Entity shall have no further liability for, and shall be deemed to be discharged and released from its obligations with respect to, 

  
 Ex. A-8 

 
this Note to the extent of the amount so deposited as such amounts are to be applied to the payments of interest on and principal of this Note in accordance with the priorities specified in the
Series Agreement, and the Noteholder shall have recourse and shall look solely to the Note Defeasance Account for the payment of such amounts. 

Each Noteholder or holder of an interest in a Note, by acceptance of such Note or such interest therein, agrees to provide to the Indenture
Trustee, any Paying Agent or the Issuing Entity, upon its request, the Noteholder Tax Identification Information and, to the extent FATCA Withholding Tax is applicable, the Noteholder FATCA Information. In addition, each Noteholder or holder of an
interest in a Note, by acceptance of such Note or such interest therein, agrees that the Indenture Trustee has the right to withhold any amounts of interest (properly withholdable under law and without any corresponding gross-up) payable to a
Noteholder or holder of an interest in a Note that fails to comply with the requirements of the preceding sentence. 
 This Note does not
purport to summarize the Series Agreement and reference is made to the Series Agreement for the interests, rights and limitations of rights, benefits, obligations and duties evidenced thereby, and the rights, duties and immunities of the Indenture
Trustee. 
 The Class [A-1][A-2][B][C][D][E] Note Initial Principal Balance is
$[            ]. The Class [A-1][A-2][B][C][D][E] Note Principal Balance on any date of determination shall be an amount equal to the Class [A-1][A-2][B][C][D][E] Note Initial Principal
Balance minus the aggregate amount of any principal payments made to the Class [A-1][A-2][B][C][D][E] Noteholders before such date. 
 The
Series 2014-5 Expected Maturity Date is the October 2017 Distribution Date, but principal with respect to the Class [A-1][A-2][B][C][D][E] Notes may be paid earlier or later under certain circumstances described in the Series Agreement. If for one
or more months during the Controlled Accumulation Period there are not sufficient funds to deposit the Controlled Deposit Amount into the Note Distribution Account or, to the extent permitted by the Indenture Supplement, the Note Defeasance Account,
then to the extent that excess funds are not available on subsequent Distribution Dates with respect to the Controlled Accumulation Period to make up for such shortfalls, the final payment of principal of the Notes shall occur later than the Series
2014-5 Expected Maturity Date. Payments of principal of the Notes shall be payable in accordance with the provisions of the Series Agreement. 

Subject to the terms and conditions of the Series Agreement, the Depositor may, from time to time, direct the Owner Trustee, on behalf of the
Issuing Entity, to issue one or more new Series of notes. 

  
 Ex. A-9 

 On each Distribution Date, the Indenture Trustee shall distribute to each Class
[A-1][A-2][B][C][D][E] Noteholder of record on the related Record Date (except for the final distribution in respect of this Note) such Class [A-1][A-2][B][C][D][E] Noteholder’s pro rata share of the amounts held by the Indenture Trustee that
are allocated and available on such Distribution Date to pay [interest and] principal on the Class [A-1][A-2][B][C][D][E] Notes pursuant to the Indenture Supplement. Except as provided in the Series Agreement with respect to a final distribution,
distributions to the Noteholders shall be made by (a) wire transfer (to the account specified by the applicable Noteholder) or check mailed to the applicable Noteholder (at such Noteholder’s address as it appears in the Note Register),
except that with respect to any Notes registered in the name of the nominee of a Clearing Agency, such distribution shall be made in immediately available funds and (b) without presentation or surrender of any Note or the making of any notation
thereon. Final payment of this Note shall be made only upon presentation and surrender of this Note at the office or agency specified in the notice of final distribution delivered by the Indenture Trustee to the Noteholders in accordance with the
Series Agreement. 
 On any day occurring on or after the date on which the Note Principal Balance is reduced to 10% or less of the Initial
Note Principal Balance, the Servicer (if Ally Financial or an Affiliate of Ally Financial is the Servicer) shall have the option to redeem the Notes, at a purchase price equal to (a) if such day is a Distribution Date, the Reassignment Amount
for such Distribution Date or (b) if such day is not a Distribution Date, the Reassignment Amount for the Distribution Date following such day. 

This Note does not represent an obligation of, or an interest in, Ally Bank, Ally Financial, Inc., Ally Wholesale Enterprises LLC, the
Indenture Trustee, the Owner Trustee or any Affiliate of any of them (other than the Issuing Entity) and is not insured or guaranteed by any governmental agency or instrumentality. 

The Issuing Entity is permitted by the Indenture, under certain circumstances, to merge or consolidate subject to the rights of the Indenture
Trustee and the Noteholders. 
 [Except as otherwise provided in the Indenture Supplement, the Class [A-1][A-2][B][C][D] Notes are issuable
only in minimum denominations of $1,000 and integral multiples of $1,000.][Except as otherwise provided in the Indenture Supplement, the Class E Notes are issuable only in a minimum denomination of 100% of the Class E Note Principal Balance] The
transfer of this Note shall be registered in the Note Register upon surrender of this Note for registration of transfer at any office or agency maintained by the Transfer Agent and Registrar accompanied by a written instrument of transfer, in a form
satisfactory to the Indenture Trustee or the Transfer Agent and Registrar, duly executed by the Noteholder or such Noteholder’s attorney, and duly authorized in writing with such signature guaranteed, and thereupon one or more new Class
[A-1][A-2][B][C][D][E] Notes in any authorized denominations of like aggregate principal amount shall be issued to the designated transferee or transferees. 

  
 Ex. A-10 

 As provided in the Series Agreement and subject to certain limitations therein set forth, Class
[A-1][A-2][B][C][D][E] Notes are exchangeable for new Class [A-1][A-2][B][C][D][E] Notes in any authorized denominations and of like aggregate principal amount, upon surrender of such Notes to be exchanged at the office or agency of the Transfer
Agent and Registrar. No service charge may be imposed for any such exchange but the Issuing Entity or Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
connection therewith. 
 The Issuing Entity, the Depositor, the Indenture Trustee and any agent of the Issuing Entity, the Depositor or the
Indenture Trustee shall treat the person in whose name this Note is registered as the owner hereof for all purposes, and none of the Issuing Entity, the Depositor, the Indenture Trustee or any agent of the Issuing Entity, the Depositor or the
Indenture Trustee shall be affected by notice to the contrary. 
 This Note is to be construed in accordance with the laws of the State of
New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder are to be determined in accordance with such laws. 

  
 Ex. A-11 

 ASSIGNMENT 

Social Security or other identifying number of assignee
                                         
        
 FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers unto 
  
  

 
  

 
  

 
  

(name and address of assignee) 
 the within note
and all rights thereunder, and hereby irrevocably constitutes and appoints
                                        ,
attorney, to transfer said note on the books kept for registration thereof, with full power of substitution in the premises. 
  

					
	Dated:
                                    	 		 	                                     
                                         
      2
			
		 		 	Signature Guaranteed:
		 		 	
		 		 	  

  
  

	2 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 Ex. A-12 

 EXHIBIT B 

FORM OF MONTHLY STATEMENT 
  

 
 ALLY MASTER
OWNER TRUST 
 SERIES 2014-5 ASSET BACKED NOTES 
  

 

  
 Ex. B 

 EXHIBIT C 

SERVICING CRITERIA TO BE ADDRESSED IN 

INDENTURE TRUSTEE’S ASSESSMENT OF COMPLIANCE 

The assessment of compliance to be delivered by the Indenture Trustee, as applicable, shall address, at a minimum, the criteria identified
below as “Applicable Indenture Trustee Servicing Criteria”, as applicable: 
  

							
	 Servicing Criteria
	  	Applicable
Indenture
Trustee
Servicing 
Criteria	 
	 Reference
	  	 Criteria
	  	 	 
	 	  	General Servicing Considerations	  	 	 
			
	 1122(d)(1)(i)
	  	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	  			
			
	 1122(d)(1)(ii)
	  	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	  	 	X	  
			
	 1122(d)(1)(iii)
	  	Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained.	  			
			
	 1122(d)(1)(iv)
	  	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of
the transaction agreements.	  	 	X	  
			
		  	Cash Collection and Administration	  			
			
	 1122(d)(2)(i)
	  	Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction
agreements.	  	 	X	  
			
	 1122(d)(2)(ii)
	  	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	  	 	X	  
			
	 1122(d)(2)(iii)
	  	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	  			
			
	 1122(d)(2)(iv)
	  	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the
transaction agreements.	  	 	X	  
			
	 1122(d)(2)(v)
	  	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a
foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	  	 	X	  
			
	 1122(d)(2)(vi)
	  	Unissued checks are safeguarded so as to prevent unauthorized access.	  	 	X	  

  
 Ex. C-1 

							
	 Servicing Criteria
	  	Applicable
Indenture
Trustee
Servicing 
Criteria	 
	 Reference
	  	 Criteria
	  	 	 
			
	 1122(d)(2)(vii)
	  	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B)
prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain
explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	  	 	X	  
			
		  	Investor Remittances and Reporting	  			
			
	 1122(d)(3)(i)
	  	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance
with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and
regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of pool assets serviced by the Servicer.	  	 	X	1 
			
	 1122(d)(3)(ii)
	  	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	  	 	X	  
			
	 1122(d)(3)(iii)
	  	Disbursements made to an investor are posted within two business days to the Servicer’s investor records, or such other number of days specified in the transaction agreements.	  	 	X	  
			
	 1122(d)(3)(iv)
	  	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	  	 	X	  
			
		  	Pool Asset Administration	  			
			
	 1122(d)(4)(i)
	  	Collateral or security on pool assets is maintained as required by the transaction agreements or related asset pool documents.	  			
			
	 1122(d)(4)(ii)
	  	Pool assets and related documents are safeguarded as required by the transaction agreements	  			
			
	 1122(d)(4)(iii)
	  	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	  			
			
	 1122(d)(4)(iv)
	  	Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer’s obligor records maintained no more than two business days after receipt, or such other number
of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related asset pool documents.	  			
			
	 1122(d)(4)(v)
	  	The Servicer’s records regarding the accounts and the accounts agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.	  			

  

	1 	Only for (A) – applicable to the timeframe the relevant investor reports are distributed to investors. 

  
 Ex. C-2 

							
	 Servicing Criteria
	  	Applicable
Indenture
Trustee
Servicing 
Criteria	 
	 Reference
	  	 Criteria
	  	 	 
			
	 1122(d)(4)(vi)
	  	Changes with respect to the terms or status of an obligor’s account (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool
asset documents.	  			
			
	 1122(d)(4)(vii)
	  	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or
other requirements established by the transaction agreements.	  			
			
	 1122(d)(4)(viii)
	  	Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g.,
illness or unemployment).	  			
			
	 1122(d)(4)(ix)
	  	Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents.	  			
			
	 1122(d)(4)(x)
	  	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s Account documents, on at least an annual basis, or such other period specified in the
transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable Account documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the
related Accounts, or such other number of days specified in the transaction agreements.	  			
			
	 1122(d)(4)(xi)
	  	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support
has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	  			
			
	 1122(d)(4)(xii)
	  	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or
omission.	  			
			
	 1122(d)(4)(xiii)
	  	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	  			
			
	 1122(d)(4)(xiv)
	  	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	  			
			
	 1122(d)(4)(xv)
	  	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	  	 	X	  

  
 Ex. C-3

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